Agenda — Indio City Council, August 19, 2026 (part 6 of 6)

HOLDINGS REPORT
City of Indio | Account #10043 | As of June 30, 2026
Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
3137F4D41 FHMSK-074 A2 3.6 01/25/2028 987,771.02 04/10/2023

4.44%
969,443.24
969,443.24

98.76 4.32%
975,541.43
2,963.31

0.82%
6,098.19
Aa1/AA+
AAA

1.57 1.45
3137FJEH8 FHMSK-081 A2 3.9 08/25/2028 3,100,000.00
--

5.15%
2,937,750.01
2,937,750.01

98.79 4.41%
3,062,403.20
10,075.00

2.56%
124,653.19
Aa1/AA+
AAA

2.15 1.99
3137FJKE8 FHMSK-082 A2 3.92 09/25/2028 750,000.00 11/28/2023

4.75%
723,398.44
723,398.44

98.81 4.41%
741,087.00
2,450.00

0.62%
17,688.56
Aa1/AA+
AAA

2.24 2.02
3137H5YC5 FHMSK-748 A2 2.26 01/25/2029 1,000,000.00 04/11/2024

4.85%
888,476.56
888,476.56

94.87 4.43%
948,669.00
1,883.33

0.79%
60,192.44
Aa1/AA+
AAA

2.57 2.36
3137FLMV3 FHMSK-090 A2 3.422 02/25/2029 1,500,000.00 05/30/2024

4.87%
1,405,195.31
1,405,195.31

97.42 4.43%
1,461,268.50
4,277.50

1.22%
56,073.19
Aa1/AAA
AA+

2.66 2.43
3137FRUT6 FHMSK-106 A2 2.069 01/25/2030 1,250,000.00 06/06/2025

4.31%
1,131,298.83
1,131,298.83

92.25 4.44%
1,153,097.50
2,155.21

0.96%
21,798.67
Aa1/AA+
AAA

3.57 3.33
3137FTZQ3 FHMSK-110 A2 1.477 04/25/2030 1,300,000.00 09/03/2025

3.84%
1,168,832.03
1,168,832.03

90.04 4.45%
1,170,520.00
1,600.08

0.98%
1,687.97
Aa1/AA+
AAA

3.82 3.48
3137FWG79 FHMSK-115 A2 1.383 06/25/2030 1,000,000.00 12/10/2025

3.93%
893,671.88
893,671.88

88.98 4.45%
889,810.00
1,152.50

0.74%
(3,861.88)
Aa1/AA+
AAA

3.99 3.75
3137FX3Q9 FHMSK-117 A2 1.406 08/25/2030 1,000,000.00 06/03/2026

4.35%
885,820.31
885,820.31

88.69 4.46%
886,929.00
1,171.67

0.74%
1,108.69
Aa1/AA+
AAA

4.15 3.88
3137F83Q4 FHMSK-121 A2 1.547 10/25/2030 1,250,000.00
--

4.16%
1,114,461.56
1,114,461.56

88.68 4.46%
1,108,507.50
1,611.46

0.93%
(5,954.06)
Aa1/AA+
AAA

4.32 4.06
3137F9Z79 FHMSK-125 A2 1.846 01/25/2031 1,375,000.00 02/19/2026

3.84%
1,250,444.34
1,250,444.34

89.37 4.46%
1,228,838.88
2,115.21

1.03%
(21,605.47)
Aa1/AA+
AAA

4.57 4.22
13,368,792.51 94.09 13,626,672.00 11.39% 3.11
Total Agency CMBS 14,512,771.02 4.51% 13,368,792.51 4.43% 31,455.27 257,879.50 2.87 CASH
CCYUSD Receivable 2,418.16 -- 2,418.16
2,418.16

1.00 2,418.16

0.00 0.00%

0.00 Aaa/AAA
AAA

0.00 0.00
2,418.16 1.00 2,418.16 0.00% 0.00
Total Cash 2,418.16 2,418.16 0.00 0.00 0.00

CORPORATE
46

Page 49 of 76 ends

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
037833DN7 APPLE INC 2.05 09/11/2026 700,000.00 12/02/2021

1.49%
717,388.00
717,388.00

99.62 3.98%
697,360.30
4,384.72

0.58%
(20,027.70)
Aaa/AA+
NA

0.20 0.19
79466LAQ7 SALESFORCE INC 4.5 03/15/2028 780,000.00 03/12/2026

4.37%
781,891.50
781,891.50

99.87 4.57%
779,015.64
10,530.00

0.65%
(2,875.86)
A2/A+
NA

1.71 1.60
64952WFD0 NEW YORK LIFE GLOBAL FUNDING

4.9 06/13/2028 1,000,000.00 09/21/20235.48%
976,220.00
976,220.00
100.68

4.53%
1,006,758.00
2,450.00

0.84%
30,538.00
Aa1/AA+
AAA

1.96 1.84
74340XCG4 PROLOGIS LP 4.875 06/15/2028 1,305,000.00
--

5.17%
1,288,811.25
1,288,811.25
100.87

4.41%
1,316,302.61
2,827.50

1.10%
27,491.36
A2/A
NA

1.96 1.77
69371RS64 PACCAR FINANCIAL CORP 4.95
08/10/2028 885,000.00 08/03/20234.99%
883,601.70
883,601.70
101.10

4.40%
894,724.38
17,157.94

0.75%
11,122.68
A1/A+
NA

2.11 1.95
89236TLL7 TOYOTA MOTOR CREDIT CORP

4.65 01/05/2029 500,000.00 01/03/20244.61%
500,905.00
500,905.00
100.48

4.45%
502,387.50
11,366.67

0.42%
1,482.50
A1/A+
A+

2.52 2.30
66815L2Q1

NORTHWESTERNMUTUAL
GLOBAL FUNDING 4.71
01/10/2029
500,000.00
--

4.67%
500,919.44
500,919.44
100.45

4.52%
502,270.50
11,186.25

0.42%
1,351.06
Aa1/AA+
AAA

2.53 2.31
58989V2M5 MET TOWER GLOBAL FUNDING

4.0 01/14/2029 760,000.00 01/07/20264.05%
759,019.60
759,019.60

98.60 4.59%
749,386.60
14,102.22

0.63%
(9,633.00)
Aa3/AA-
AA-

2.54 2.34
57629W5B2 MASSMUTUAL GLOBAL FUNDING
II 4.85 01/17/2029 680,000.00 01/09/20244.85%
679,911.60
679,911.60
100.63

4.59%
684,254.08
15,024.22

0.57%
4,342.48
Aa3/AA+
AA+

2.55 2.32
17275RBR2 CISCO SYSTEMS INC 4.85
02/26/2029 585,000.00 02/21/20244.86%
584,795.25
584,795.25
101.06

4.42%
591,212.12
9,851.56

0.49%
6,416.87
A1/AA-
NA

2.66 2.36
14913UAJ9 CATERPILLAR FINANCIAL SERVICES
CORP 4.85 02/27/2029 1,000,000.00 03/18/20244.84%
1,000,490.00
1,000,490.00
101.21

4.36%
1,012,140.00
16,705.56

0.85%
11,650.00
A1/A
A+

2.66 2.43
38151LAJ9 GOLDMAN SACHS BANK USA

4.656 06/03/2029 390,000.00 05/27/20264.57%
390,000.00
390,000.00
100.06

4.54%
390,241.41
1,412.32

0.33%
241.41
A1/A+
AA-

2.93 1.81
64952WFG3 NEW YORK LIFE GLOBAL FUNDING

5.0 06/06/2029 560,000.00 06/03/20245.04%
558,924.80
558,924.80
101.27

4.53%
567,114.80
1,944.44

0.47%
8,190.00
Aa1/AA+
AAA

2.93 2.69
24422EXT1 JOHN DEERE CAPITAL CORP 4.85
06/11/2029 1,000,000.00 06/07/20245.04%
991,780.00
991,780.00
101.25

4.39%
1,012,523.00
2,694.44

0.85%
20,743.00
A1/A
A+

2.95 2.71
341081GT8 FLORIDA POWER
& LIGHT CO 5.15
06/15/2029 500,000.00 06/13/20244.82%
506,932.49
506,932.49
101.87

4.47%
509,372.00
1,144.44

0.43%
2,439.51
Aa2/A+
AA-

2.96 2.57
44891AEN3 HYUNDAI CAPITAL AMERICA 4.75
06/18/2029 600,000.00 06/15/20264.79%
599,382.00
599,382.00

99.66 4.87%
597,948.60
1,029.17

0.50%
(1,433.40)
A3/A-
A-

2.97 2.73
47

Page 50 of 76 ends

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
437076DC3 HOME DEPOT INC 4.75
06/25/2029 1,000,000.00 07/30/20244.57%
1,007,690.00
1,007,690.00
100.99

4.39%
1,009,897.00
791.67

0.84%
2,207.00
A2/AA2.99

2.68 713448FX1 PEPSICO INC 4.5 07/17/2029 1,000,000.00 07/15/2024

4.53%
998,450.00
998,450.00
100.31

4.39%
1,003,094.00
20,500.00

0.84%
4,644.00
A1/A+
NA

3.05 2.69
171239AL0 CHUBB INA HOLDINGS LLC 4.65
08/15/2029 1,105,000.00 08/15/20244.51%
1,111,828.90
1,111,828.90
100.49

4.48%
1,110,441.02
19,411.17

0.93%
(1,387.88)
A2/AA3.13

2.76 40139LBJ1 GUARDIAN LIFE GLOBAL FUNDING

4.179 09/26/2029 805,000.00 09/23/20244.18%
805,000.00
805,000.00

98.69 4.62%
794,461.75
8,877.47

0.66%
(10,538.26)
Aa1/AA+
NA

3.24 2.96
89236TNA9 TOYOTA MOTOR CREDIT CORP

4.95 01/09/2030 965,000.00 01/06/20255.00%
962,934.90
962,934.90
101.15

4.59%
976,076.27
22,822.25

0.82%
13,141.37
A1/A+
A+

3.53 3.13
57629TBV8 MASSMUTUAL GLOBAL FUNDING
II 4.95 01/10/2030 500,000.00 01/03/20254.96%
499,760.00
499,760.00
100.70

4.73%
503,502.50
11,756.25

0.42%
3,742.50
Aa3/AA+
AA+

3.53 3.13
61747YFK6 MORGAN STANLEY 5.173
01/16/2030 750,000.00 01/13/20255.39%
744,187.50
744,187.50
100.90

4.87%
756,759.75
17,782.19

0.63%
12,572.25
A1/A-
A+

3.55 2.30
63743HFX5

NATIONAL RURAL UTILITIES
COOPERATIVE FINANCE CORP 4.95
02/07/2030
1,000,000.00
02/05/2025

4.88%
1,002,873.61
1,002,873.61
101.05

4.63%
1,010,538.00
19,800.00

0.84%
7,664.39
A2/NA A3.61

3.14 571748CA8 MARSH
& MCLENNAN
COMPANIES INC 4.65 03/15/2030 1,000,000.00 03/11/20254.69% 998,100.00
998,100.00

99.90 4.68%
998,989.00
13,691.67

0.84%
889.00
A3/A-
A-

3.71 3.32
06051GMY2 BANK OF AMERICA CORP 4.477
04/23/2030 1,200,000.00 05/13/20264.59%
1,195,368.00
1,195,368.00

99.37 4.67%
1,192,431.60
10,147.87

1.00%
(2,936.40)
A1/A-
AA-

3.81 2.59
828807DK0 SIMON PROPERTYGROUP LP 2.65
07/15/2030 1,250,000.00 08/19/20254.32%
1,158,362.50
1,158,362.50

92.73 4.64%
1,159,157.50
15,274.31

0.97%
795.00
A3/A
NA

4.04 3.71
40139LBN2 GUARDIAN LIFE GLOBAL FUNDING

4.327 10/06/2030 600,000.00 09/30/20254.33%
600,000.00
600,000.00

98.37 4.75%
590,195.40
6,129.92

0.49%
(9,804.60)
Aa1/AA+
NA

4.27 3.81
141781CF9 CARGILL INC 4.125 10/23/2030 640,000.00 10/20/2025

4.14%
639,519.95
639,519.95

97.93 4.66%
626,764.80
4,986.67

0.52%
(12,755.15)
A2/A
NA

4.31 3.87
30303MAB8 META PLATFORMS INC 4.2
11/15/2030 1,250,000.00 11/13/20254.16%
1,252,412.50
1,252,412.50

98.43 4.60%
1,230,391.25
6,708.33

1.03%
(22,021.25)
Aa3/AA-
NA

4.38 3.93
74153WCZ0 PRICOA GLOBAL FUNDING I 4.35
11/25/2030 600,000.00 12/08/20254.36%
599,754.00
599,754.00

98.33 4.77%
589,975.20
2,610.00

0.49%
(9,778.80)
Aa3/NA
AA-

4.41 3.94
26444HAT8 DUKE ENERGY FLORIDA LLC 4.2
12/01/2030 700,000.00 01/08/20264.17%
700,763.00
700,763.00

98.26 4.64%
687,810.20
2,450.00

0.57%
(12,952.80)
A1/A
NA

4.42 3.97
48

Page 51 of 76 ends

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
74456QCX2 PUBLIC SERVICE ELECTRICAND
GAS CO 4.2 01/01/2031 1,000,000.00 06/18/20264.61%
983,460.00
983,460.00

98.32 4.62%
983,209.00
20,300.00

0.82%
(251.00)
A1/A
NA

4.51 4.05
66815L2Z1 NORTHWESTERNMUTUAL
GLOBAL FUNDING 4.3 01/13/2031 590,000.00 01/06/20264.30% 589,946.90
589,946.90

98.44 4.69%
580,774.17
11,839.33

0.49%
(9,172.73)
Aa1/AA+
AAA

4.54 3.99
6944PL3M9 PACIFIC LIFE GLOBAL FUNDING II

4.375 02/03/2031 500,000.00 01/29/20264.34%
500,690.00
500,690.00

98.72 4.69%
493,578.00
8,993.06

0.41%
(7,112.00)
Aa3/AA-
AA-

4.60 4.04
92826CAZ5 VISA INC 4.1 02/12/2031 775,000.00 02/03/2026

4.13%
773,961.50
773,961.50

98.91 4.36%
766,557.93
12,268.68

0.64%
(7,403.58)
Aa3/AA-
NA

4.62 4.09
02079KBK2 ALPHABET INC 4.1 02/15/2031 1,500,000.00 02/12/2026

4.10%
1,500,087.78
1,500,087.78

98.26 4.52%
1,473,870.00
23,575.00

1.23%
(26,217.78)
Aa2/AA+
NA

4.63 4.10
46647PBJ4 JPMORGAN CHASE
& CO 4.493
03/24/2031 1,250,000.00 05/13/20264.60%
1,244,462.50
1,244,462.50

99.12 5.30%
1,239,006.25
15,132.67

1.04%
(5,456.25)
A1/A
AA-

4.73 3.35
14913V2D9 CATERPILLAR FINANCIAL SERVICES
CORP 4.5 05/15/2031 305,000.00 05/11/20264.53%
304,582.15
304,582.15

99.53 4.61%
303,557.05
1,753.75

0.25%
(1,025.11)
A1/A
A+

4.87 4.30
57636QBL7 MASTERCARD INC 4.6 06/08/2031 1,020,000.00 06/04/2026

4.62%
1,019,184.00
1,019,184.00

99.85 4.63%
1,018,432.26
2,997.67

0.85%
(751.74)
Aa3/A+
NA

4.94 4.36
Total Corporate 33,050,000.00 4.56%
32,914,352.32
32,914,352.32

99.61 4.58%
32,912,481.42
404,411.37

27.51%
(1,870.91)

3.41 2.97

MONEY MARKET
FUND
60934N104 FEDERATED HRMS GVO INST 575,508.65
--

3.51%
575,508.65
575,508.65

1.00 5.17%
575,508.65

0.00 0.48%

0.00 Aaa/AAAm
AAA

0.00 0.00
Total Money Market
Fund 575,508.65 3.51%
575,508.65
575,508.65

1.00 5.17%
575,508.65

0.00 0.48%

0.00 0.00

0.00 MUNICIPAL BONDS
13063EGT7 CALIFORNIA STATE 4.5 08/01/2029 1,160,000.00 10/30/2024

4.38%
1,166,113.20
1,166,113.20
100.46

4.34%
1,165,326.72
21,750.00

0.97%
(786.48)
Aa2/AA-
AA

3.09 2.80
Total Municipal
Bonds 1,160,000.00 4.38%
1,166,113.20
1,166,113.20
100.46

4.34%
1,165,326.72
21,750.00

0.97%
(786.48)

3.09 2.80

SUPRANATIONAL
49

Page 52 of 76 ends

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
459058LN1

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.875 10/16/2029
1,150,000.00
12/12/2024

4.25%
1,131,278.00
1,131,278.00

99.00 4.20%
1,138,537.95
9,280.50

0.95%
7,259.95
Aaa/AAA
NA

3.30 3.03
Total Supranational 1,150,000.00 4.25%
1,131,278.00
1,131,278.00

99.00 4.20%
1,138,537.95
9,280.50

0.95%
7,259.95

3.30 3.03

US TREASURY
91282CCZ2 UNITED STATES TREASURY 0.875
09/30/2026 630,000.00 10/18/20211.19%
620,574.61
620,574.61

99.28 3.81%
625,438.80
1,385.66

0.52%
4,864.19
Aa1/AA+
AA+

0.25 0.25
91282CFB2 UNITED STATES TREASURY 2.75
07/31/2027 2,000,000.00 08/24/20223.23%
1,956,093.75
1,956,093.75

98.54 4.15%
1,970,704.00
22,941.99

1.65%
14,610.25
Aa1/AA+
AA+

1.08 1.04
91282CFH9 UNITED STATES TREASURY 3.125
08/31/2027 2,300,000.00
--

3.22%
2,290,085.94
2,290,085.94

98.86 4.13%
2,273,766.20
24,023.44

1.90%
(16,319.74)
Aa1/AA+
AA+

1.17 1.12
91282CFZ9 UNITED STATES TREASURY 3.875
11/30/2027 450,000.00 12/05/20223.81%
451,406.25
451,406.25

99.61 4.16%
448,224.75
1,476.95

0.37%
(3,181.50)
Aa1/AA+
AA+

1.42 1.36
91282CGC9 UNITED STATES TREASURY 3.875
12/31/2027 1,400,000.00 01/25/20233.57%
1,419,359.38
1,419,359.38

99.58 4.17%
1,394,093.40
147.42

1.17%
(25,265.98)
Aa1/AA+
AA+

1.50 1.44
91282CGH8 UNITED STATES TREASURY 3.5
01/31/2028 2,200,000.00 02/07/20233.81%
2,169,148.44
2,169,148.44

98.97 4.18%
2,177,313.60
32,118.78

1.82%
8,165.16
Aa1/AA+
AA+

1.59 1.50
91282CGP0 UNITED STATES TREASURY 4.0
02/29/2028 3,000,000.00
--

4.03%
2,995,625.00
2,995,625.00

99.73 4.16%
2,992,032.00
40,108.70

2.50%
(3,593.00)
Aa1/AA+
AA+

1.67 1.57
91282CHA2 UNITED STATES TREASURY 3.5
04/30/2028 1,550,000.00
--

3.59%
1,543,572.26
1,543,572.26

98.82 4.17%
1,531,775.10
9,139.95

1.28%
(11,797.16)
Aa1/AA+
AA+

1.84 1.74
91282CHE4 UNITED STATES TREASURY 3.625
05/31/2028 2,600,000.00
--

4.05%
2,551,578.13
2,551,578.13

99.02 4.16%
2,574,405.60
7,982.92

2.15%
22,827.47
Aa1/AA+
AA+

1.92 1.82
91282CHQ7 UNITED STATES TREASURY 4.125
07/31/2028 950,000.00 08/07/20234.15%
948,923.83
948,923.83

99.93 4.16%
949,332.15
16,346.17

0.79%
408.32
Aa1/AA+
AA+

2.08 1.94
91282CNY3 UNITED STATES TREASURY 3.375
09/15/2028 1,750,000.00 10/30/20253.61%
1,738,994.14
1,738,994.14

98.34 4.17%
1,720,878.25
17,333.56

1.44%
(18,115.89)
Aa1/AA+
AA+

2.21 2.08
91282CJF9 UNITED STATES TREASURY 4.875
10/31/2028 550,000.00 10/27/20234.79%
552,083.98
552,083.98
101.54

4.17%
558,465.05
4,517.32

0.47%
6,381.07
Aa1/AA+
AA+

2.34 2.17
91282CJN2 UNITED STATES TREASURY 4.375
11/30/2028 600,000.00 12/28/20233.83%
614,625.00
614,625.00
100.46

4.17%
602,765.40
2,223.36

0.50%
(11,859.60)
Aa1/AA+
AA+

2.42 2.26
50

Page 53 of 76 ends

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CJR3 UNITED STATES TREASURY 3.75
12/31/2028 3,000,000.00
--

4.14%
2,949,052.74
2,949,052.74

99.01 4.17%
2,970,234.00
305.71

2.48%
21,181.26
Aa1/AA+
AA+

2.50 2.36
91282CJW2 UNITED STATES TREASURY 4.0
01/31/2029 3,000,000.00
--

4.30%
2,960,214.84
2,960,214.84

99.57 4.18%
2,987,109.00
50,055.25

2.50%
26,894.16
Aa1/AA+
AA+

2.59 2.39
91282CQA2 UNITED STATES TREASURY 3.5
02/15/2029 1,500,000.00 04/27/20263.82%
1,487,343.75
1,487,343.75

98.34 4.17%
1,475,157.00
19,723.76

1.23%
(12,186.75)
Aa1/AA+
AA+

2.63 2.45
91282CKG5 UNITED STATES TREASURY 4.125
03/31/2029 3,000,000.00 04/10/20244.57%
2,940,820.31
2,940,820.31

99.88 4.17%
2,996,484.00
31,106.56

2.50%
55,663.69
Aa1/AA+
AA+

2.75 2.55
91282CKP5 UNITED STATES TREASURY 4.625
04/30/2029 2,300,000.00
--

4.47%
2,315,736.33
2,315,736.33
101.20

4.17%
2,327,491.90
17,921.88

1.95%
11,755.57
Aa1/AA+
AA+

2.83 2.61
91282CKX8 UNITED STATES TREASURY 4.25
06/30/2029 1,200,000.00 07/18/20244.09%
1,208,484.38
1,208,484.38
100.23

4.17%
1,202,719.20
138.59

1.01%
(5,765.18)
Aa1/AA+
AA+

3.00 2.79
91282CLC3 UNITED STATES TREASURY 4.0
07/31/2029 2,000,000.00 04/27/20263.84%
2,009,687.50
2,009,687.50

99.52 4.17%
1,990,468.00
33,370.17

1.66%
(19,219.50)
Aa1/AA+
AA+

3.08 2.82
91282CLK5 UNITED STATES TREASURY 3.625
08/31/2029 2,250,000.00 09/11/20243.45%
2,267,666.02
2,267,666.02

98.40 4.17%
2,213,964.00
27,261.38

1.85%
(53,702.02)
Aa1/AA+
AA+

3.17 2.92
91282CLN9 UNITED STATES TREASURY 3.5
09/30/2029 1,200,000.00 10/04/20243.76%
1,185,750.00
1,185,750.00

97.97 4.17%
1,175,625.60
10,557.38

0.98%
(10,124.40)
Aa1/AA+
AA+

3.25 3.01
91282CMA6 UNITED STATES TREASURY 4.125
11/30/2029 2,300,000.00 12/16/20244.25%
2,286,792.97
2,286,792.97

99.84 4.17%
2,296,407.40
8,035.86

1.92%
9,614.43
Aa1/AA+
AA+

3.42 3.14
91282CGS4 UNITED STATES TREASURY 3.625
03/31/2030 1,250,000.00 04/04/20253.62%
1,250,048.83
1,250,048.83

98.06 4.19%
1,225,781.25
11,390.03

1.02%
(24,267.58)
Aa1/AA+
AA+

3.75 3.43
91282CMZ1 UNITED STATES TREASURY 3.875
04/30/2030 1,250,000.00 05/20/20254.06%
1,239,599.61
1,239,599.61

98.92 4.18%
1,236,475.00
8,160.67

1.03%
(3,124.61)
Aa1/AA+
AA+

3.83 3.50
91282CNG2 UNITED STATES TREASURY 4.0
05/31/2030 1,500,000.00 06/03/20254.02%
1,498,945.31
1,498,945.31

99.32 4.19%
1,489,863.00
5,081.97

1.25%
(9,082.31)
Aa1/AA+
AA+

3.92 3.58
91282CNK3 UNITED STATES TREASURY 3.875
06/30/2030 2,000,000.00 07/09/20253.95%
1,993,125.00
1,993,125.00

98.84 4.19%
1,976,876.00
210.60

1.65%
(16,249.00)
Aa1/AA+
AA+

4.00 3.66
91282CNX5 UNITED STATES TREASURY 3.625
08/31/2030 2,250,000.00
--

3.72%
2,240,800.79
2,240,800.79

97.83 4.20%
2,201,220.00
27,261.38

1.84%
(39,580.79)
Aa1/AA+
AA+

4.17 3.77
91282CPN5 UNITED STATES TREASURY 3.5
11/30/2030 1,500,000.00 12/15/20253.73%
1,484,414.06
1,484,414.06

97.20 4.20%
1,457,929.50
4,446.72

1.22%
(26,484.56)
Aa1/AA+
AA+

4.42 4.03
91282CQK0 UNITED STATES TREASURY 3.875
04/30/2031 1,250,000.00 05/28/20264.16%
1,234,326.17
1,234,326.17

98.56 4.21%
1,232,031.25
8,160.67

1.03%
(2,294.92)
Aa1/AA+
AA+

4.83 4.33
51

Page 54 of 76 ends

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
Total US Treasury 52,730,000.00 3.90%
52,404,879.32
52,404,879.32

99.14 4.17%
52,275,030.40
442,934.75

43.70%
(129,848.92)

2.67 2.47
Total Portfolio 121,118,498.11 4.23%
119,472,845.50
119,472,845.50

98.36 4.33%
119,628,735.35
975,715.14
100.00%
155,889.85

2.93 2.48
Total Market Value+
Accrued 120,604,450.48
52

Page 55 of 76 ends

HOLDINGS REPORT
City of Indio LAIF | Account #10067 | As of June 30, 2026 Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
CASH
CCYUSD Receivable 963,652.68 -- 963,652.68
963,652.68

1.00 963,652.68

0.00 0.77%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 963,652.68
963,652.68
963,652.68

1.00 963,652.68

0.00 0.77%

0.00 0.00

0.00 LAIF
90LAIF$00 Local Agency Investment Fund
State Pool 124,925,307.08
--

3.82%
124,925,307.08
124,925,307.08

1.00 3.82%
124,925,307.08

0.00 99.23%

0.00 NA/NA
NA

0.00 0.00
Total LAIF 124,925,307.08 3.82%
124,925,307.08
124,925,307.08

1.00 3.82%
124,925,307.08

0.00 99.23%

0.00 0.00

0.00 Total Portfolio 125,888,959.76 3.82%
125,888,959.76
125,888,959.76

1.00 3.82%
125,888,959.76

0.00 100.00%

0.00 0.00

0.00 Total Market Value+
Accrued 125,888,959.76
53

Page 56 of 76 ends

HOLDINGS REPORT
City of Indio - 2022 Lease Revenue Bonds - City Hall and Public Safety Financing | Account #10975 | As of June 30, 2026
Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
CASH
CCYUSD Receivable 17,323.87 -- 17,323.87
17,323.87

1.00 17,323.87

0.00 0.18%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 17,323.87
17,323.87
17,323.87

1.00 17,323.87

0.00 0.18%

0.00 0.00

0.00 MONEY MARKET
FUND
31846V203 FIRST AMER:GVT OBLG Y 3,339,134.91 --

3.25%
3,339,134.91
3,339,134.91

1.00 3.25%
3,339,134.91

0.00 34.58%

0.00 Aaa/AAAm
AAA

0.00 0.00
Total Money Market
Fund 3,339,134.91 3.25%
3,339,134.91
3,339,134.91

1.00 3.25%
3,339,134.91

0.00 34.58%

0.00 0.00

0.00 US TREASURY
91282CLB5 UNITED STATES TREASURY 4.375
07/31/2026 1,800,000.00 10/16/20253.64%
1,810,054.69
1,810,054.69
100.05

3.67%
1,800,941.40
32,848.76

18.65%
(9,113.29)
Aa1/AA+
AA+

0.08 0.08
91282CHU8 UNITED STATES TREASURY 4.375
08/15/2026 2,500,000.00 10/16/20253.63%
2,514,746.09
2,514,746.09
100.05

3.89%
2,501,312.50
41,091.16

25.90%
(13,433.59)
Aa1/AA+
AA+

0.13 0.12
91282CLP4 UNITED STATES TREASURY 3.5
09/30/2026 2,000,000.00 10/16/20253.58%
1,998,515.63
1,998,515.63

99.91 3.83%
1,998,204.00
17,595.63

20.69%
(311.63)
Aa1/AA+
AA+

0.25 0.25
Total US Treasury 6,300,000.00 3.62%
6,323,316.41
6,323,316.41
100.01

3.81%
6,300,457.90
91,535.55

65.24%
(22,858.51)

0.15 0.15
Total Portfolio 9,656,458.78 3.49%
9,679,775.19
9,679,775.19

65.60 3.62%
9,656,916.68
91,535.55
100.00%
(22,858.51)

0.10 0.10
Total Market Value +
Accrued 9,748,452.23
54

Page 57 of 76 ends

HOLDINGS REPORT
City of Indio- Capitalized Interest Fund | Account #10977 | As of June 30, 2026 Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
CASH
CCYUSD Receivable 4.54 -- 4.54

4.54 1.00 4.54

0.00 0.27%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 4.54

4.54 4.54

1.00 4.54

0.00 0.27%

0.00 0.00

0.00 MONEY MARKET
FUND
31846V203 FIRST AMER:GVT OBLGY 1,696.44 --

3.25%
1,696.44
1,696.44

1.00 3.25%
1,696.44

0.00 99.73%

0.00 Aaa/AAAm
AAA

0.00 0.00
Total Money Market
Fund 1,696.44 3.25%
1,696.44
1,696.44

1.00 3.25%
1,696.44

0.00 99.73%

0.00 0.00

0.00 Total Portfolio 1,700.98 3.25%
1,700.98
1,700.98

1.00 3.25%
1,700.98

0.00 100.00%

0.00 0.00

0.00 Total Market Value+
Accrued 1,700.98
55

Page 58 of 76 ends

HOLDINGS REPORT
City of Indio - Cons Bond Proceeds | Account #10978 | As of June 30, 2026 Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
CASH
CCYUSD Receivable 17,323.87 -- 17,323.87
17,323.87

1.00 17,323.87

0.00 0.18%

0.00 Aaa/AAA
AAA

0.00 0.00
CCYUSD Receivable 4.54 -- 4.54

4.54 1.00 4.54

0.00 0.00%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 17,328.41
17,328.41
17,328.41

1.00 17,328.41

0.00 0.18%

0.00 0.00

0.00 MONEY MARKET
FUND
31846V203 FIRST AMER:GVT OBLG Y 3,339,134.91 --

3.25%
3,339,134.91
3,339,134.91

1.00 3.25%
3,339,134.91

0.00 34.57%

0.00 Aaa/AAAm
AAA

0.00 0.00
31846V203 FIRST AMER:GVT OBLG Y 1,696.44 --

3.25%
1,696.44
1,696.44

1.00 3.25%
1,696.44

0.00 0.02%

0.00 Aaa/AAAm
AAA

0.00 0.00
Total Money Market
Fund 3,340,831.35 3.25%
3,340,831.35
3,340,831.35

1.00 3.25%
3,340,831.35

0.00 34.59%

0.00 0.00

0.00 US TREASURY
91282CLB5 UNITED STATES TREASURY 4.375
07/31/2026 1,800,000.00 10/16/20253.64%
1,810,054.69
1,810,054.69
100.05

3.67%
1,800,941.40
32,848.76

18.65%
(9,113.29)
Aa1/AA+
AA+

0.08 0.08
91282CHU8 UNITED STATES TREASURY 4.375
08/15/2026 2,500,000.00 10/16/20253.63%
2,514,746.09
2,514,746.09
100.05

3.89%
2,501,312.50
41,091.16

25.90%
(13,433.59)
Aa1/AA+
AA+

0.13 0.12
91282CLP4 UNITED STATES TREASURY 3.5
09/30/2026 2,000,000.00 10/16/20253.58%
1,998,515.63
1,998,515.63

99.91 3.83%
1,998,204.00
17,595.63

20.69%
(311.63)
Aa1/AA+
AA+

0.25 0.25
Total US Treasury 6,300,000.00 3.62%
6,323,316.41
6,323,316.41
100.01

3.81%
6,300,457.90
91,535.55

65.23%
(22,858.51)

0.15 0.15
Total Portfolio 9,658,159.76 3.49%
9,681,476.17
9,681,476.17

65.58 3.62%
9,658,617.66
91,535.55
100.00%
(22,858.51)

0.10 0.10
Total Market Value +
Accrued 9,750,153.21
56

Page 59 of 76 ends

HOLDINGS REPORT
Indio PFA LRBs 2025A Capitalized Interest Acct | Account #11510 | As of June 30, 2026 Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
CASH
CCYUSD Receivable 43.14 -- 43.14

43.14 1.00 43.14

0.00 0.27%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 43.14

43.14 43.14

1.00 43.14

0.00 0.27%

0.00 0.00

0.00 MONEY MARKET
FUND
31846V203 FIRST AMER:GVT OBLG Y 16,124.12 --

3.25%
16,124.12
16,124.12

1.00 3.25%
16,124.12

0.00 99.73%
(0.00)
Aaa/AAAm
AAA

0.00 0.00
Total Money Market
Fund 16,124.12 3.25%
16,124.12
16,124.12

1.00 3.25%
16,124.12

0.00 99.73%
(0.00)

0.00 0.00
Total Portfolio 16,167.26 3.25%
16,167.26
16,167.26

1.00 3.25%
16,167.26

0.00 100.00%
(0.00)

0.00 0.00
Total Market Value +
Accrued 16,167.26
57

Page 60 of 76 ends

HOLDINGS REPORT
Indio PFA LRBs 2025A Project Acct | Account #11511 | As of June 30, 2026 Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
CASH
CCYUSD Receivable 7,341.77 -- 7,341.77
7,341.77

1.00 7,341.77

0.00 0.02%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 7,341.77
7,341.77
7,341.77

1.00 7,341.77

0.00 0.02%

0.00 0.00

0.00 MONEY MARKET
FUND
31846V203 FIRST AMER:GVT OBLG Y 2,856,008.42 --

3.25%
2,856,008.42
2,856,008.42

1.00 3.25%
2,856,008.42

0.00 9.59%

0.00 Aaa/AAAm
AAA

0.00 0.00
Total Money Market
Fund 2,856,008.42 3.25%
2,856,008.42
2,856,008.42

1.00 3.25%
2,856,008.42

0.00 9.59%

0.00 0.00

0.00 US TREASURY
91282CLS8 UNITED STATES TREASURY 4.125
10/31/2026 1,300,000.00 10/16/20253.57%
1,307,261.72
1,302,337.55
100.06

3.93%
1,300,731.90
9,034.65

4.37%
(1,605.65)
Aa1/AA+
AA+

0.34 0.33
91282CJK8 UNITED STATES TREASURY 4.625
11/15/2026 2,200,000.00 10/16/20253.57%
2,224,234.38
2,208,426.68
100.26

3.90%
2,205,636.40
12,995.24

7.41%
(2,790.28)
Aa1/AA+
AA+

0.38 0.37
91282CME8 UNITED STATES TREASURY 4.25
12/31/2026 3,400,000.00 10/16/20253.53%
3,428,289.06
3,411,765.68
100.13

3.98%
3,404,515.20
392.66

11.43%
(7,250.48)
Aa1/AA+
AA+

0.50 0.49
91282CMH1 UNITED STATES TREASURY 4.125
01/31/2027 3,300,000.00 10/16/20253.51%
3,325,007.81
3,311,362.36
100.06

4.01%
3,302,059.20
56,781.42

11.09%
(9,303.16)
Aa1/AA+
AA+

0.59 0.56
91282CMP3 UNITED STATES TREASURY 4.125
02/28/2027 2,300,000.00 10/16/20253.49%
2,319,226.56
2,309,324.30
100.07

4.01%
2,301,547.90
31,710.94

7.73%
(7,776.40)
Aa1/AA+
AA+

0.67 0.64
91282CMV0 UNITED STATES TREASURY 3.875
03/31/2027 1,400,000.00 10/16/20253.47%
1,407,875.00
1,404,056.37

99.90 4.01%
1,398,537.00
13,636.61

4.70%
(5,519.37)
Aa1/AA+
AA+

0.75 0.72
91282CKJ9 UNITED STATES TREASURY 4.5
04/15/2027 1,500,000.00 10/16/20253.47%
1,522,382.81
1,511,827.98
100.36

4.02%
1,505,434.50
14,200.82

5.06%
(6,393.48)
Aa1/AA+
AA+

0.79 0.76
91282CKR1 UNITED STATES TREASURY 4.5
05/15/2027 2,500,000.00 10/16/20253.47%
2,539,257.81
2,521,711.28
100.33

4.10%
2,508,350.00
14,368.21

8.42%
(13,361.28)
Aa1/AA+
AA+

0.87 0.84
91282CKV2 UNITED STATES TREASURY 4.625
06/15/2027 3,200,000.00 10/16/20253.45%
3,260,125.00
3,234,626.44
100.48

4.10%
3,215,401.60
6,469.95

10.80%
(19,224.84)
Aa1/AA+
AA+

0.96 0.93
58

Page 61 of 76 ends

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CNP2 UNITED STATES TREASURY 3.875
07/31/2027 1,400,000.00 10/16/20253.44%
1,410,390.63
1,406,294.94

99.71 4.14%
1,396,007.20
22,629.14

4.69%
(10,287.74)
Aa1/AA+
AA+

1.08 1.03
91282CNV9 UNITED STATES TREASURY 3.625
08/31/2027 900,000.00 10/16/20253.43%
903,093.75
901,929.63

99.42 4.13%
894,797.10
10,904.55

3.00%
(7,132.53)
Aa1/AA+
AA+

1.17 1.12
91282CPB1 UNITED STATES TREASURY 3.5
09/30/2027 1,400,000.00 10/16/20253.42%
1,401,968.75
1,401,259.12

99.21 4.15%
1,389,007.20
12,316.94

4.66%
(12,251.92)
Aa1/AA+
AA+

1.25 1.20
91282CLQ2 UNITED STATES TREASURY 3.875
10/15/2027 1,100,000.00 10/16/20253.42%
1,109,496.09
1,106,143.76

99.64 4.16%
1,096,046.60
8,967.55

3.68%
(10,097.16)
Aa1/AA+
AA+

1.29 1.24
91282CLX7 UNITED STATES TREASURY 4.125
11/15/2027 1,000,000.00 10/16/20253.42%
1,013,984.38
1,009,249.22

99.94 4.17%
999,375.00
5,268.34

3.36%
(9,874.22)
Aa1/AA+
AA+

1.38 1.31
Total US Treasury 26,900,000.00 3.49%
27,172,593.75
27,040,315.30
100.07

4.04%
26,917,446.80
219,677.03

90.39%
(122,868.50)

0.78 0.75
Total Portfolio 29,763,350.19 3.46%
30,035,943.94
29,903,665.49

90.54 3.97%
29,780,796.99
219,677.03
100.00%
(122,868.50)

0.71 0.68
Total Market Value +
Accrued 30,000,474.02
59

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TRANSACTIONS
60

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TRANSACTION LEDGER
City of Indio | Account #10043|04/01/2026 Through 06/30/2026| Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount Interest Pur/Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 04/21/2026 89240QAD7 440,000.00 TAOT 2026-B A3 4.13 12/16/2030 99.979 4.14% (439,907.20) 0.00 (439,907.20) 0.00 Purchase 04/28/2026 91282CLC3 2,000,000.00

UNITED STATES
TREASURY 4.0
07/31/2029
100.484 3.84% (2,009,687.50) (19,226.52) (2,028,914.02) 0.00 Purchase 04/28/2026 91282CQA2 1,500,000.00

UNITED STATES
TREASURY 3.5
02/15/2029

99.156 3.82% (1,487,343.75) (10,441.99) (1,497,785.74) 0.00 Purchase 05/14/2026 46647PBJ4 1,250,000.00 JPMORGAN CHASE & CO 4.493 03/24/2031 99.557 4.60% (1,244,462.50) (7,800.35) (1,252,262.85) 0.00 Purchase 05/14/2026 06051GMY2 1,200,000.00

BANK OF AMERICA
CORP 4.477
04/23/2030

99.614 4.59% (1,195,368.00) (3,133.90) (1,198,501.90) 0.00 Purchase 05/15/2026 14913V2D9 305,000.00

CATERPILLAR

FINANCIAL SERVICES
CORP 4.5 05/15/2031

99.863 4.53% (304,582.15) 0.00 (304,582.15) 0.00
Purchase 05/29/2026 91282CQK0 1,250,000.00

UNITED STATES
TREASURY 3.875
04/30/2031

98.746 4.16% (1,234,326.17) (3,817.09) (1,238,143.26) 0.00 Purchase 06/03/2026 38151LAJ9 390,000.00

GOLDMAN SACHS
BANK USA 4.656
06/03/2029
100.000 4.57% (390,000.00) 0.00 (390,000.00) 0.00
Purchase 06/03/2026 38151LAJ9 390,000.00

GOLDMAN SACHS
BANK USA 4.656
06/03/2029
100.000 4.57% (390,000.00) 0.00 0.00 0.00
Purchase 06/03/2026 38151LAJ9 (390,000.00)

GOLDMAN SACHS
BANK USA 4.656
06/03/2029
100.000 4.57% 390,000.00 0.00 0.00 0.00
Purchase 06/08/2026 3137FX3Q9 1,000,000.00 FHMS K-117 A2 1.406 08/25/2030 88.582 4.35% (885,820.31) (273.39) (886,093.70) 0.00 Purchase 06/08/2026 57636QBL7 1,020,000.00 MASTERCARD INC 4.6 06/08/2031 99.920 4.62% (1,019,184.00) 0.00 (1,019,184.00) 0.00 Purchase 06/17/2026 44935KAD5 675,000.00 HART 26B A3 4.81 02/18/2031 99.988 4.81% (674,918.53) 0.00 (674,918.53) 0.00 61

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HYUNDAI CAPITAL
AMERICA 4.75
06/18/2029

99.969 4.76% (279,913.20) 0.00 (279,913.20) 0.00
Purchase 06/18/2026 44891AEN3 320,000.00

HYUNDAI CAPITAL
AMERICA 4.75
06/18/2029

99.834 4.81% (319,468.80) 0.00 (319,468.80) 0.00
Purchase 06/22/2026 74456QCX2 1,000,000.00

PUBLIC SERVICE

ELECTRIC AND GAS CO

4.2 01/01/2031

98.346 4.61% (983,460.00) (19,250.00) (1,002,710.00) 0.00 Purchase 06/23/2026 3137F83Q4 708,000.00 FHMS K-121 A2 1.547 10/25/2030 88.906 4.33% (629,456.25) (669.33) (630,125.58) 0.00 Total Purchase 13,338,000.00 (13,097,898.36) (64,612.57) (13,162,510.93) 0.00 TOTAL
ACQUISITIONS 13,338,000.00 (13,097,898.36) (64,612.57) (13,162,510.93) 0.00

DISPOSITIONS
Maturity 04/20/2026 4581X0DV7 (2,080,000.00)

INTER-AMERICAN

DEVELOPMENT BANK

0.875 04/20/2026
100.000 0.88% 2,080,000.00 0.00 2,080,000.00 1,256.60
Total Maturity (2,080,000.00) 2,080,000.00 0.00 2,080,000.00 1,256.60 Sale 05/12/2026 89115A2U5 (500,000.00)

TORONTO-DOMINION
BANK 5.523
07/17/2028
102.339 4.76% 511,695.00 8,821.46 520,516.46 (3,840.00) Sale 05/14/2026 57629TBV8 (370,000.00)

MASSMUTUAL GLOBAL
FUNDING II 4.95
01/10/2030
100.988 4.96% 373,655.60 6,308.50 379,964.10 3,833.20
Sale 05/14/2026 74153WCZ0 (400,000.00)

PRICOA GLOBAL
FUNDING I 4.35
11/25/2030

98.697 4.36% 394,788.00 8,168.33 402,956.33 (5,048.00)
Sale 05/14/2026 59217GFT1 (900,000.00)

METROPOLITAN LIFE
GLOBAL FUNDING I 4.9
01/09/2030
100.675 4.95% 906,075.00 15,312.50 921,387.50 7,929.00
Sale 05/14/2026 40139LBN2 (350,000.00)

GUARDIAN LIFE

GLOBAL FUNDING

4.327 10/06/2030

98.639 4.33% 345,236.50 1,598.59 346,835.09 (4,763.50)
62

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UNITED STATES
TREASURY 1.125
10/31/2026

98.867 1.27% 1,483,007.81 1,238.11 1,484,245.92 (6,855.47) Sale 06/05/2026 78016HZS2 (750,000.00)

ROYAL BANK
OF CANADA 5.2
08/01/2028
101.725 4.68% 762,937.50 13,433.33 776,370.83 (2,955.00) Sale 06/08/2026 3137FAWS3 (1,500,000.00) FHMS K-067 A2 3.194 07/25/2027 98.902 3.46% 1,483,535.16 931.58 1,484,466.74 4,824.22 Sale 06/16/2026 02665WFY2 (955,000.00)

AMERICAN HONDA
FINANCE CORP 4.8
03/05/2030

99.909 4.82% 954,130.95 12,860.67 966,991.62 (28.65)
Sale 06/22/2026 74456QBX3 (1,000,000.00)

PUBLIC SERVICE

ELECTRIC AND GAS CO

3.65 09/01/2028

98.311 4.77% 983,110.00 11,254.17 994,364.17 29,860.00
Total Sale (8,225,000.00) 8,198,171.52 79,927.24 8,278,098.76 22,955.80 TOTAL
DISPOSITIONS (10,305,000.00) 10,278,171.52 79,927.24 10,358,098.76 24,212.40 63

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TRANSACTION LEDGER
City of Indio LAIF | Account #10067|04/01/2026 Through 06/30/2026| Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount Interest Pur/Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 04/15/2026 90LAIF$00 377,975.28
Local Agency
Investment Fund State
Pool

1.000 3.81% (377,975.28) 0.00 (377,975.28) 0.00
Purchase 04/15/2026 90LAIF$00 478,504.66
Local Agency
Investment Fund State
Pool

1.000 3.81% (478,504.66) 0.00 (478,504.66) 0.00
Purchase 05/29/2026 90LAIF$00 13,000,000.00
Local Agency
Investment Fund State
Pool

1.000 3.81% (13,000,000.00) 0.00 (13,000,000.00) 0.00
Purchase 06/10/2026 90LAIF$00 12,500,000.00
Local Agency
Investment Fund State
Pool

1.000 3.81% (12,500,000.00) 0.00 (12,500,000.00) 0.00
Purchase 06/10/2026 90LAIF$00 7,500,000.00
Local Agency
Investment Fund State
Pool

1.000 3.81% (7,500,000.00) 0.00 (7,500,000.00) 0.00
Total Purchase 33,856,479.94 (33,856,479.94) 0.00 (33,856,479.94) 0.00 TOTAL
ACQUISITIONS 33,856,479.94 (33,856,479.94) 0.00 (33,856,479.94) 0.00 64

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TRANSACTION LEDGER
City of Indio - 2022 Lease Revenue Bonds - City Hall and Public Safety Financing | Account #10975|04/01/2026 Through 06/30/2026|
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount Interest Pur/Sold Total Amount Gain/Loss

DISPOSITIONS
Maturity 05/15/2026 91282CHB0 (1,500,000.00)

UNITED STATES
TREASURY 3.625
05/15/2026
100.000 3.70% 1,500,000.00 0.00 1,500,000.00 644.53
Maturity 06/30/2026 91282CKY6 (1,500,000.00)

UNITED STATES
TREASURY 4.625
06/30/2026
100.000 3.69% 1,500,000.00 0.00 1,500,000.00 (9,492.19) Total Maturity (3,000,000.00) 3,000,000.00 0.00 3,000,000.00 (8,847.66) TOTAL
DISPOSITIONS (3,000,000.00) 3,000,000.00 0.00 3,000,000.00 (8,847.66) 65

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TRANSACTION LEDGER
City of Indio - Cons Bond Proceeds | Account #10978|04/01/2026 Through 06/30/2026| Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount Interest Pur/Sold Total Amount Gain/Loss

DISPOSITIONS
Maturity 05/15/2026 91282CHB0 (1,500,000.00)

UNITED STATES
TREASURY 3.625
05/15/2026
100.000 3.70% 1,500,000.00 0.00 1,500,000.00 644.53
Maturity 06/30/2026 91282CKY6 (1,500,000.00)

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IMPORTANT DISCLOSURES
2026 Chandler Asset Management, Inc, An Independent Registered Investment Adviser.

Information contained herein is confidential. Prices are provided by ICE Data Services Inc (“IDS”), an independent pricing source. In the event IDS does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A.

Performance results are presented gross-of-advisory fees and represent the client’s Total Return. The deduction of advisory fees lowers performance results. These results include the reinvestment of dividends and other earnings. Past performance may not be indicative of future results. Therefore, clients should not assume that future performance of any specific investment or investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Economic factors, market conditions or changes in investment strategies, contributions or withdrawals may materially alter the performance and results of your portfolio.

Index returns assume reinvestment of all distributions. Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results. It is not possible to invest directly in an index.

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE permits use of the ICE indices and related data on an “asis” basis; ICE, its affiliates and their respective third party suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE data, its affiliates or their respective third party providers guarantee the quality, adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof, and the indices and index data and all components thereof are provided on an “as is” basis and licensee’s use it at licensee’s own risk. ICE data, its affiliates and their respective third party do not sponsor, endorse, or recommend chandler asset management, or any of its products or services.

This report is provided for informational purposes only and should not be construed as a specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of publication, but may become outdated or superseded at any time without notice. Any opinions or views expressed are based on current market conditions and are subject to change. This report may contain forecasts and forward-looking statements which are inherently limited and should not be relied upon as indicator of future results. Past performance is not indicative of future results. This report is not intended to constitute an offer, solicitation, recommendation or advice regarding any securities or investment strategy and should not be regarded by recipients as a substitute for the exercise of their own judgment.

Fixed income investments are subject to interest, credit and market risk. Interest rate risk: the value of fixed income investments will decline as interest rates rise. Credit risk: the possibility that the borrower may not be able to repay interest and principal. Low rated bonds generally have to pay higher interest rates to attract investors willing to take on greater risk. Market risk: the bond market in general could decline due to economic conditions, especially during periods of rising interest rates.

Ratings information have been provided by Moody’s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy.

Security level ratings for U.S. Agency issued mortgage-backed securities (“MBS”) reflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest.

LGIP Yields: Reported yields for local government investment pools may be presented as either the 30-day yield or the monthly distribution yield, as applicable. For certain funds, the 30-day yield is calculated using reported daily yield data. Yield calculations are subject to change and may not be directly comparable across funds.

LAIF Yields: Additional Disclosure for CA Clients - As a result of a reporting lag from the Local Agency Investment Fund (LAIF), reported LAIF yieldsrepresent the most recently available Daily Effective Yield and may reflect data from approximately 7–10 days prior to month-end. 67

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BENCHMARK DISCLOSURES
Benchmark Disclosure
ICE BofA 3-Month US Treasury Bill
Index
The ICE BofA US 3-Month Treasury Bill Index is comprised of a single issue purchased at the beginning of the month and held for a full month. At the end of the month that issue is sold and rolled into a newly selected issue. The issue selected at each monthend rebalancing is the outstanding Treasury Bill that matures closest to, but not beyond, three months from the rebalancing date.

ICE BofA 1-5 Yr Unsubordinated US
Treasury & Agency Index
The ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of Moody’s, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less than five years remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies. 68

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Attachment A
Quarter Ending Quarter Ending Quarter Ending Quarter Ending CASH ACCOUNTS Sept 30, 2025 Dec 31, 2025 Mar 31, 2026 Jun 30, 2026 Petty Cash Funds $ 6,850 $ 7,450 $ 7,450 $ 7,450
US Bank of CA - City Checking $ 8,566,724 $ 19,259,529 $ 18,084,912 $ 24,965,744 US Bank of CA - IWA Checking $ 12,205,039 $ 10,489,005 $ 9,662,935 $ 8,018,068 Cash $ 20,778,613 $ 29,755,984 $ 27,755,296 $ 32,991,262 Local Agency Investment Fund (LAIF) $ 75,471,194 $ 69,887,909 $ 91,068,827 $ 124,925,307 Short-Term Investments $ 75,471,194 $ 69,887,909 $ 91,068,827 $ 124,925,307 Asset Backed Securities $ 10,116,901 $ 11,499,280 $ 12,173,936 $ 12,489,024 Federal Agency Securities $ 5,511,204 $ 5,524,928 $ 7,202,132 $ 8,668,011 Collateralized Mortgage Obligations $ 13,785,434 $ 14,248,921 $ 11,945,889 $ 10,402,397 U.S. Corporate $ 31,996,458 $ 32,319,455 $ 32,575,201 $ 32,912,481 Money Market $ 239,301 $ 467,958 $ 1,614,602 $ 577,927
Municipal Bonds $ 1,190,299 $ 1,188,652 $ 1,180,447 $ 1,165,327 Negotiable CD $ - $ - $ - $ -
Supranational $ 5,275,567 $ 3,220,139 $ 3,227,148 $ 1,138,538 Agency Securities $ 49,639,432 $ 50,445,840 $ 49,406,138 $ 52,275,030 Long-Term Investments (Market Value) $ 117,754,597 $ 118,915,172 $ 119,325,493 $ 119,628,735 TOTAL CASH AND INVESTMENTS $ 214,004,404 $ 218,559,065 $ 238,149,616 $ 277,545,304 $ - $ - $ -
1966186

CITY OF INDIO

HISTORICAL CASH & INVESTMENT BALANCES

CASH AND INVESTMENT BALANCE COMPOSITION
AS OF June 30, 2026

REPORT OF INVESTMENTS

4.00% 8.81% 7.59% 5.70% 9.00%

4.80% 4.06%

2.89%

35.27%

31.98%

38.24%

45.01%

4.73% 5.26%

5.11%

4.50%

2.58% 2.53%

3.02%

3.12%

6.44% 6.52%

5.02%

3.75%

14.95% 14.79%

13.68%

11.86%
<1%
<1%
<1%
<1%

2.47% 1.47%

1.36%

0.41%

23.20% 23.08%

20.75%

18.83%
$214,004,404 $218,559,065
$238,149,616
$277,545,304
$(20,000,000)
$5,000,000
$30,000,000
$55,000,000
$80,000,000
$105,000,000
$130,000,000
$155,000,000
$180,000,000
$205,000,000
$230,000,000
$255,000,000
$280,000,000
Sept 30, 2025 Dec 31, 2025 Mar 31, 2026 Jun 30, 2026

CASH AND INVESTMENT BALANCE COMPOSITION
(CURRENT & PRIOR THREE QUARTERS)
Petty Cash Funds US Bank of CA - City Checking US Bank of CA - IWA Checking Local Agency Investment Fund (LAIF) Asset Backed Securities Federal Agency Securities Collateralized Mortgage Obligations U.S. Corporate Money Market Municipal Bonds Negotiable CD Supranational
Agency Securities
$201,593,113
$220,393,808 $229,804,516 $214,004,404
$277,545,304
$0
$25,000,000
$50,000,000
$75,000,000
$100,000,000
$125,000,000
$150,000,000
$175,000,000
$200,000,000
$225,000,000
$250,000,000
Jun, 2022 Jun, 2023 Jun, 2024 Jun, 2025 Jun, 2026

YEAR-OVER-YEAR TOTAL

Page 1 of 5 ends

Page 72 of 76 ends

Attachment A
Fund Category Other City Funds General Fund Succ. Agcy. Water IEFA Waste Transfer EV Reclam. Auth. Housing Auth. ERICA JPA Jun, 2026 $ 114,250,519 $ 78,669,595 $ 4,395,600 $ 61,831,551 $ 4,199,818 $ 1,107,368 $ 347,161 $ 1,659,348 $ 145,392 Int. Allocation - Jun. 30, 2026 $ 914,673 $ 588,800 $ 28,696 $ 440,492 $ 32,253 $ 7,530 $ 2,195 $ 12,822 $ 1,117 Int. Allocation - Mar. 31, 2026 $ 730,256 $ 560,380 $ 28,480 $ 603,332 $ - $ 9,853 $ 4,835 $ 16,388 $ 1,518 Int. Allocation - Dec. 31, 2025 $ 876,366 $ 208,050 $ 29,652 $ 437,886 $ - $ 6,174 $ 4,069 $ 13,900 $ 1,756 Int. Allocation - Sept. 30, 2025 $ 770,836 $ 655,496 $ 36,529 $ 559,955 $ - $ 11,664 $ 4,682 $ 15,293 $ 1,265 25046.93
$ 437,886
1966186
$ 1,577,854
$ 2,055,720

POOLED FUND BALANCE COMPOSITION
AS OF June 30, 2026

REPORT OF INVESTMENTS

CITY OF INDIO
Total
$ 277,545,304
$ 2,028,577
$ 1,955,042
Other City
Funds
43%
General Fund
29% Succ. Agcy.
<1%
Water
23%
IEFA
<1%
Waste Transfer
<1%
EV Reclam.

Auth.
<1%
Housing Auth.
<1%

ERICA JPA
<1%

POOL CASH & INVESTMENTS BY INVESTOR
$-
$20,000,000
$40,000,000
$60,000,000
$80,000,000
$100,000,000
$120,000,000
Jun, 2022 Jun, 2023 Jun, 2024 Jun, 2025 Jun, 2026

POOL INVESTOR BALANCE HISTORY
Other City Funds General Fund Succ. Agcy. Water Auth.

E. Valley Reclam. Housing Auth. ERICA JPA Waste Transfer

YEAR-OVER-YEAR POOLED FUND POOL

BALANCE HISTORY BY INVESTOR
Except for cash in certain restricted and special funds, the City consolidates cash and reserve balances from all funds into "pooled funds" to maximize investment earnings and to increase efficiencies with regard to investment pricing, safekeeping and administration. Interest allocation is computed based on average cash balance during the quarter. Interest payments are recorded quarterly.

Page 2 of 5 ends

Page 73 of 76 ends

Attachment A
25046.93

CITY OF INDIO

REPORT OF INVESTMENTS
AS OF June 30, 2026

LONG-TERM INVESTMENT SNAPSHOT
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
9/11/20265/17/20277/31/2027
11/30/2027
1/18/20281/31/20283/15/20284/17/20285/22/2028
6/8/2028
6/15/20287/31/20288/25/20289/15/20289/25/2028
10/31/202811/30/202812/31/2028
1/10/20291/17/20291/25/20292/15/20292/26/20292/27/20293/31/20295/15/2029 6/6/2029
6/15/20296/25/20297/17/2029
8/1/2029
8/31/20299/26/2029
10/15/202910/15/202911/15/202912/17/2029
1/10/20301/16/2030
2/7/2030
3/31/20304/23/20304/30/20306/21/20306/30/20308/25/203010/6/2030 10/25/203011/25/2030
12/1/2030
1/1/2031
1/25/20312/12/20312/18/20314/30/2031
6/8/2031
Market Value of Investment
Maturity Date

MATURITY DISTRIBUTION BY DATE
2025 - 2030 $1,417,520

1.19%

1.62%
$22,867,793

19.21%

3.99%
$41,033,395

34.47%

4.53% $32,759,309

27.52%

4.19%
$20,972,792

17.62%

4.19%
To better reflect the effects of economic and market conditions, this maturity distribution has been updated with market values as of the end of the applicable quarter.

Page 3 of 5 ends

Report of investments for the quarter ending June 30, 2026 (Ruby D. Wall... Page 822 of 953 Attachment A
Quarter Ending Quarter Ending Quarter Ending Quarter Ending Quarter Ending Jun. 30, 2025 Sept. 30, 2025 Dec.31, 2025 Mar.31, 2026 Jun. 30, 2026

INVESTMENTS
Average
Purchase YTM
Average
Purchase YTM
Average
Purchase YTM
Average
Purchase YTM
Average
Purchase YTM
Advisor-Managed Investments 3.79% 3.91% 4.11% 4.14% 4.23% Local Agency Investment Fund (LAIF) 4.40% 4.34% 4.20% 3.98% 3.92% WEIGHTED AVERAGE PURCHASE YTM* 4.08% 4.08% 4.14% 4.07% 4.07% 25046.93

4.11%
1966186
*Weighted Average Purchase YTM is expressed in annualized terms. Percentages are weighted based on the share of Advisor-managed investments and the share of Local Agency Investment Fund (LAIF) compared to the total investment pool.

WEIGHTED AVERAGE PURCHASE YIELD-TO-MATURITY (YTM)

CITY OF INDIO

INVESTMENT BALANCES AND WEIGHTED AVERAGE PURCHASE YIELD-TO-MATURITY AS OF June 30, 2026
$34,156,601
$20,778,613
$29,755,984 $27,755,296 $32,991,262
$116,109,563 $117,754,597
$118,915,172 $119,325,493 $119,628,735
$104,003,195
$75,471,194
$69,887,909
$91,068,827
$124,925,307
$-
$25,000,000
$50,000,000
$75,000,000
$100,000,000
$125,000,000
$150,000,000
$175,000,000
$200,000,000
$225,000,000
$250,000,000
Jun. 30, 2025 Sept. 30, 2025 Dec.31, 2025 Mar.31, 2026 Jun. 30, 2026

POOLED INVESTMENT BALANCES
(CURRENT & PRIOR FOUR QUARTERS)
Bank Balance Advisor-Managed LAIF

40.9%
$214,004,404 $218,559,065

45.7% 55.0%

54.4% 50.1% 43.1%
$254,269,359

32.0%

38.2%
$238,149,616

35.3%

45.0%

11.9% 13.6% 11.7% 9.7%

13.4%
$277,545,304

Page 4 of 5 ends

Page 75 of 76 ends

Attachment A
Indio AD 01-1 Refund 2012 Reserve -711 $329,377 Indio CFD 2005-1 (Area #2) Reserve -751 $286,573 Indio AD 02-1 Refund 2012 Reserve -712 $314,881 Indio CDF 2006-1 Reserve -759 $365,419 Indio AD 02-2 Refund 2012 Reserve -713 $206,253 2012 IPFA Asmt. Rev. Bonds Reserve -702 $2,146,118 Indio AD 02-3 Refund 2012 Reserve -714 $384,974 Indio Suc.Agcy 04A Reserve -870 $1,127,681 Indio AD 03-1 Reserve -718 $86,916 Indio Suc.Agcy 2008A Reserve -870 $1,519,563 Indio AD 03-2 Reserve -719 $69,553 2018 SA Subordinate Tax Allocation Bond -870 $3,166,870 Indio AD 03-3 Reserve -720 $221,773 Climatec Lease Payment Fund Reserve -604 $83,317 Indio AD 03-5 Reserve -723 $66,626 2017 IFA Assessment Refunding Reserve -705 $3,333,200 Indio AD 03-6 Reserve -724 $80,715 Indio JOB Series 2017 Fund Reserve -400 $16,750 Indio AD 04-1 Reserve -707 $162,025 DeBonne Escrow Settlement -312 $1,958,183 Indio AD 04-2 Reserve -709 $256,590 Indio PFA Lse Rev Bds 2022A -805 $18,017,115 Indio AD 04-3 Reserve -716 $432,437 JT2 Worker Comp - 601 $25,401 Indio CFD 2005-1 (Area #1) Reserve -754 $325,670 Indio Electric FA - 820 $7,159,258 Indio PFA Lease Rev Bonds 2025A-804 $31,723,654 Indio CA Fish & Wildlife Escrow 2024 $123,153 Indio FA SPL Tax 2014 Rev Bonds - 756 $14,852,002 Indio FA 2014 Rev Refunding Bonds-703 $3,220,038 TOTAL CASH WITH FISCAL AGENT AS OF June 30, 2026 $92,062,085 The CERBT is a Section 115 trust fund dedicated to prefunding Other Post-Employment Benefits (OPEB) for all eligible California public agencies.

CERBT MARKET VALUE (LATEST STATEMENT DATE June 30, 2026) $6,209,987 The PRSP is a Section 115 trust fund dedicated to prefunding rising pension costs and address pension liabilities.

PARS PRSP MARKET VALUE (LATEST STATEMENT DATE June 30, 2026 $5,717,860

PARS PENSION RATE STABILIZATION PROGRAM (PRSP)

FISCAL AGENT ACCOUNTS

CITY OF INDIO

REPORT OF OTHER INVESTMENT HOLDINGS
AS OF June 30, 2026

CALIFORNIA EMPLOYER'S RETIREE BENEFIT TRUST (CERBT)
Fiscal Agent accounts are typically held for the payment of matured bonds and interest. The above list indicates the amount and the purpose of the cash held.

Page 5 of 5 ends

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City of Indio
City Council
August 19, 2026

STAFF REPORT
To: City Council
From: Jonathan Nicks, City Manager
Prepared by: Brian Halvorson, Dir. Of Community Development Subject: Receive a presentation, project update, and input from the Planning Commission on proposed land use and annexation concepts for the East Indio Employment Corridor Annexation Project.

RECOMMENDATION:

Receive a presentation, project update, Planning Commission input and provide direction to staff on proposed land use and annexation concepts for the East Indio Employment Corridor Annexation Project.

SUMMARY:

In 2024, the City initiated the East Indio Employment Corridor Annexation Study to evaluate opportunities for future employment growth within the Eastern Sphere of Influence (SOI). On May 7, 2025, City staff and the City’s planning consultant, Dudek, presented a status update on the first phase of the East Indio Employment Corridor Annexation Study during a City Council Study Session. The presentation provided an overview of the preliminary feasibility analysis for the annexation of a portion of the City’s Eastern Sphere of Influence (SOI), including a summary of key opportunities and constraints. The purpose of the presentation was to inform City Council and discuss the project’s progress to date. On July 16, 2025, City staff and Planning Consultant Dudek presented options for proceeding with the second phase of the East Indio Employment Corridor Annexation Study, including potential study area configurations. Based on the presentation, the City Council directed staff to analyze the full 4,609 acres of the City’s Eastern Sphere of Influence (SOI) as defined in the City’s General Plan 2024. As part of the second phase of the East Indio Employment District Annexation Study, staff are providing the City Council with an informational update on the study's progress, proposed land use and annexation concepts, and next steps. The concepts under consideration vary in annexation boundaries, development area, and land use mix and have been evaluated based on fiscal and community benefits, environmental and site constraints, and safety and risk considerations. Staff and the consultant team will be presenting the concepts (refer to attached presentation), along with feedback received from the Planning Commission on August 12, 2026, to determine the preferred concept which will be the basis of the forthcoming Environmental Impact Report (EIR) and the Riverside Local Agency Formation Commission (LAFCO) application.

BACKGROUND INFORMATION:

The East Indio Annexation project is intended to address the following Goals:

AGENDA ITEM #10.2
Receive a presentation, project update, and input from the Planning Comm... Page 825 of 953 i. City’s long-term vision is to expand industrial development opportunities in Indio to support job creation, enhance services, and promote investment in the city. ii. Analyze constraints within the Project Area to determine feasibility of development. iii. Identify potential land uses through assessment of environmental and economic constraints, market demand analysis, and conceptual planning.
iv. Formalized annexation of all or a portion of the Eastern Sphere of Influence (SOI) through a Riverside Local Agency Formation Commission (LAFCO) application.

Annexation Study Area
The City of Indiois studying a 4,609-acre area east of the current city limits and part of the City’s approved Eastern Sphere of Influence known in this project as the East Indio Employment Corridor.

The goal is to explore the project area and its potential for future business development, job growth, and infrastructure improvements.

The Project Area is largely undeveloped, with most land currently vacant or used for agriculture, including vineyards, citrus groves, and a date garden. Small areas of quarry operations, heavy manufacturing, and retail operate in the area. Under the County of Riverside’s Western Coachella Valley Area Plan, the Project Area is currently designated as open space rural with smaller areas designated as conservation habitat. The East Indio Employment Corridor project would continue to preserve important habitat and open space while improving select lands for development.

To date, the project has completed a desktop analysis that includes:

Phase 1:

During Phase 1, which occurred during Fiscal Year (FY) 2024-2025, the project team focused on understanding opportunities and constraints to developing the Project Area, as well as creating conceptual scenarios. The project team includes Dudek, CV Strategies, Pro Forma Advisors, and Intersecting Metrics who together bring complementary technical expertise and local knowledge.

Engagement and coordination were conducted with a variety of interested parties throughout Phase 1, including public utility and service providers, tribal representatives, a Technical Advisory Committee (TAC), Riverside Local Agency Formation Commission (LAFCO) staff, the real estate/development community, and City Council to inform the project and support general buy-in.

Phase 1 concluded with a summary of key opportunities and constraints and series of conceptual planning scenarios intended to be further analyzed and refined by Phase 2 of the project. More detail on the Phase 1 scope of services is provided below:
 A total of 3,320 acres of unincorporated land in Riverside County, which is part of the City’s existing sphere of influence “Eastern Sphere Annexation Area” was studied.  Comprehensive opportunities and constraints analysis of existing land uses and ownership, conservation lands, environmental hazards, public utilities and services, and biological, archeological, paleontological, and cultural resources were undertaken.  Targeted outreach to interested parties was conducted to inform the analyses, including public utility and service providers, tribal representatives, a Technical Advisory Committee (TAC), Riverside Local Agency Formation Commission (LAFCO) staff, the real estate/development community, and City Council.
 A preliminary market demand and economic development analysis/strategy was undertaken by Dudek’s economic subconsultant, ProForma Advisors. Preliminary market analysis showed potential demand in the Project Area’s location for a mixed-use business park, with the strongest near- and mid-term demand being for industrial.  Three conceptual scenarios were developed and evaluated using environmental, infrastructure, and market data to evaluate feasibility, access, costs, and growth compatibility.

The Final Phase 1 study can be reviewed on the City’s Development Dashboard located at:
https://experience.arcgis.com/experience/987b64ca5e4b477e98058edeee6db883

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Receive a presentation, project update, and input from the Planning Comm... Page 826 of 953 Phase 2:

Currently underway as part of FY 2025-2026, began with additional analyses of the City’s Eastern Sphere of Influence (SOI) and includes the same project team as the Phase 1 effort. Specifically, Phase 2 expands the Project Area analyzed during Phase 1 to include an additional 1,289 acres, resulting in a total project area of approximately 4,609 acres. As an early task, the project team analyzed this additional area and provided a comparable level of evaluation for the remainder of the Eastern SOI in addition to a hydrology feasibility study to determine the extent of any potential flood hazard areas. This phase also includes a fiscal impact analysis to refine and select a preferred concept.

Proposed annexation concepts have been prepared for review by key interested parties (noted above), including the City’s Planning Commission, property and business owners, and the broader community. Once the preferred concept is selected by City Council, the focus shifts to preparing the LAFCO application, including a Services and Utilities Plan and Fiscal Impact Report. Continued engagement with interested parties will support project development and approvals. More detail on the Phase 2 scope of services is provided below:
 Based on findings of Phase 1 analysis, Council decided to move forward with Phase 2 in July 2025.
 Phase 2 focuses on additional analysis of an additional 1,289 acres in the Eastern SOI (area total: 4,609 acres) and developing proposed annexation concept for review by interested parties.
 Environmental constraints report to assess expanded Project Area was undertaken.  Conducted hydrology feasibility study to assess the risk of flooding in the area.  Continued engagement with City Council and service providers has been conducted, and expanded outreach to the Planning Commission, property and business owners, and the broader community is being undertaken.
 Drafted three annexation concept alternatives.
 Includes a fiscal impact analysis, and additional transportation analyses to assist in the evaluation of the three proposed annexation concepts.

Project Outreach
 Consulted property owners, interested parties and organizations, and decision makers to gather input and solicit interest.
 Held a roundtable meeting with regional agencies, local jurisdictions, and service providers.

Held individual meetings with County of Riverside, BLM, and City of Coachella.  Reached out to individual landowners in the Project Area to gather input on the project.  Held a community open house in May 2026 to gather feedback from the public, developers, and property owners on the environmental constraint reports, market analysis, and potential land uses.
 Conducted an online community survey to understand community sentiment about the project goals and priority land uses.

Land Use & Annexation Concepts
The Annexation Concepts were developed and informed by policy context, interested parties’ engagement, and desktop constraints and opportunities analyses conducted in Phases 1 and 2. The purpose of the exercise is to explore trade-offs, support strategic growth planning, and inform City decision-making. All four of the concepts share: significant preservation of open space for habitat conservation and environmental mitigation and they feature light industrial, office, and retail uses under the Place Type Workplace Employment District. Where they differ is how much land is included in the annexation boundary, the development area size, whether a residential place type is introduced, and whether the CVMSHO Conservation Area and federal lands are annexed.

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Receive a presentation, project update, and input from the Planning Comm... Page 827 of 953 The Annexation Concepts (graphically displayed in the attached presentation) include:
 Concept 1A: Full Annexation, Employment Focused: includes an annexation area of 4,609 acres (full annexation area), a development core of 582 acres, and it captures the Stonewater Solar Project for property tax revenue purposes and potential benefit to IID.

Could potentially introduce a new place type to the City’s Development Code: Utilities and Infrastructure.
 Concept 1B: Full Annexation, Adds Housing: Uses the identical annexation boundary as Concept 1A (4,609 acres), development core is 582 acres, and it reallocates a portion of the development area to Connected Neighborhood High, reducing the Workplace Employment District acreage.
 Concept 2A: Reduced Annexation, Employment Focus: Reduces the annexation area to 2,650 acres by removing open space, agricultural lands, and lands owned by federal agencies and the development core remains the same as Concept 1A.  Concept 2B: Reduced Annexation/Development Area, Employment Focus: Reduces the annexation boundary to 2,650 acres (same as Concept 2A) and reduces the development core to 300 acres and repositions open space to serve as buffer to the Stonewater Solar project.

Each concept has been tested against a set of evaluation metrics, grouped into three distinct categories: Site & environmental factors (federal lands, topography, hazards and sensitive resources, resource protection; infrastructure and services (proximity to existing service and infrastructure and services costs); and fiscal and community considerations (tax revenue, environmental impacts, open space preservation, trip generation, housing affordability, compatibility with existing uses. From this exercise, based on Planning Commission and City Council direction, a Preferred Concept will be identified which will become the basis for analyzing required infrastructure and services cost and timing, the LAFCO annexation application, and the required environmental documentation.

Annexation Process and LAFCO
The Local Agency Formation Commission (LAFCO) is an independent agency in every California county that oversees changes to city and special district boundaries, promoting orderly growth, efficient services, and limiting urban sprawl. Riverside LAFCO carries out these same state-mandated responsibilities within Riverside County, reviewing local proposals such as annexations, service extensions, and other boundary changes. A Sphere of Influence (SOI) is a legally defined area outside a city’s boundary that identifies where a city may provide services or potentially annex in the future. The City has several SOI areas, including the Eastern Sphere of Influence which includes this Annexation study area. Riverside LAFCO defines annexation as “the inclusion, attachment, or addition of territory to a city or special district.” The Annexation process for this project includes:
 The City identifying the annexation area;
 Extensive community engagement to property owners, adjacent cities and the County of origin, utility and service providers, and the general public;  City identifying future land use designation and corresponding pre-zoning;  Negotiations with the County on tax exchanges;
 LAFCO review and analysis and Public Hearing;

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Receive a presentation, project update, and input from the Planning Comm... Page 828 of 953  A protest period; and
 Potential boundary update
To initiate the annexation process, a jurisdiction must file an annexation application (if the area is already designated within a jurisdiction’s sphere of influence). The Riverside LAFCO annexation application requires the following key studies to determine if a City can responsibly add to the City’s boundaries:
 Environmental Review
 Public services and utilities analysis
 Infrastructure capacity and needs
 Fiscal impacts and costs
 Consistency with regional and local plans
Next Steps
The City Council will consider the Planning Commission’s input (not available at the time of writing this report but will be presented on August 19, 2026) on the annexation concepts and will provide direction on the preferred annexation concept (which could either be one of the four proposed concepts or a new preferred concept based on elements within the four proposed concepts).

Proforma Advisors will prepare a Fiscal Impact Report that identifies costs associated with the potential annexation (including both municipal and countywide services) based on the Preferred Concept. As part of third phase of work, as required by the Riverside LAFCO annexation application, the City’s consultant (Dudek) will prepare a Plan of Services to evaluate the infrastructure and public service needs associated with the Preferred Annexation Concept. The analysis will identify how necessary transportation, utility, and public service systems will be provided, funded, and phased to support future development and inform the Riverside LAFCO annexation application.

As part of the annexation process, the City will be required to establish future land use designations and pre-zoning for the Project Area consistent with Riverside LAFCO requirements. The study will evaluate appropriate General Plan land use designations and zoning classifications based on the Preferred Concept and will prepare the necessary General Plan Amendment and pre-zoning documentation.

As the environmental review process is underway and once a Preferred Plan has been selected, the project team will begin compiling the Riverside LAFCO annexation application materials. The annexation process will involve coordination with LAFCO staff, service providers, property owners, and other stakeholders to support application preparation, review, and consideration. Building on previous annexation efforts completed for the City, the project team will provide ongoing coordination and guidance to facilitate an efficient and streamlined application process. The City will prepare a Program Environmental Impact Report (PEIR) pursuant to CEQA to evaluate the potential environmental impacts of the proposed annexation and future development within the Project Area.

The City’s consultant anticipates that once the EIR is initiated, anticipated for early Fall, the environmental assessment process will be completed within one year (Fall/2027).

FINANCIAL SUMMARY:

Current FY Financial
Impact:

In current year budget: Yes
Current FY General Budget adjustment: No

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Receive a presentation, project update, and input from the Planning Comm... Page 829 of 953 Fund Impact:

Next FY Financial
Impact:

Strategic Objective: Economic Opportunity
Source of funds: Fund-Org-Object
Reference:

ATTACHMENTS:

East Indio Employment Corridor Presentation
APPROVAL(S):

Ruby D. Walla, Director of Finance Approved - 12 Aug 2026 Steven Graham Pacifico, City Attorney Approved - 13 Aug 2026 Jonathan Nicks, City Manager Approved - 13 Aug 2026

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Receive a presentation, project update, and input from the Planning Comm... Page 830 of 953 1 City of Indio East Indio Employment Corridor Annexation Study

CITY OF INDIO
East Indio Employment Corridor Annexation
Study - Phase 2
AUGUST 19, 2026: CITY COUNCIL MEETING
AUGUST 19, 2026

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2 City of Indio East Indio Employment Corridor Annexation Study Tonight’s Agenda § High-level project overview, background and status update § Outline of land use and annexation concepts § Next steps, including the LAFCO annexation process

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3 City of Indio East Indio Employment Corridor Annexation Study Purpose and Need
Key Statistics
6 Low Industrial Land
Only 1.6% industrial
zoned parcels citywide
Workforce Diversification, Development
% of industrial,
commercial flex jobs
(11.5) in 2023
versus the County (15%)
% of service jobs
(30) in 2023
versus the County (20%)
Employee
Outmigration
Almost 84% of Indio
residents are employed
outside of the city (2021)
Project Area
Largely
vacant, open
space

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4 City of Indio East Indio Employment Corridor Annexation Study Purpose and Need
§ Approximately 4,609 acres of unincorporated
County of Riverside land; requires LAFCO
application
6 What is Annexation?
§ Sphere of Influence (SOI) – A SOI is a legally
defined area outside a City’s boundary
that identifies where a city may provide services
or potentially annex in the future.
§ Annexation – Riverside LAFCO defines
“annexation” as “the inclusion, attachment or
addition of territory to a city or special district.
4,409
acres

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5 City of Indio East Indio Employment Corridor Annexation Study Project Vision and Process
Phase
1 Phase
2 Phase
3 We are
here!
Preliminary Annexation
Feasibility Annexation Concepts EIR and LAFCO Application Project Vision
Expand industrial development opportunities in Indio to support job creation and diversification, enhance services, and promote investment within the city.

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6 City of Indio East Indio Employment Corridor Annexation Study Progress & Status
Update

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7 City of Indio East Indio Employment Corridor Annexation Study About the Project Area § Project Area is mostly vacant open space, followed by vineyard and citrus grove uses in the southern portion, a date garden in along Dillon Road, a quarry in the center of the area, and small amounts of manufacturing and
retail along Fargo Canyon Road.
§ Zoned primarily for Open Space Rural, Conservation
Habitat, with the quarry area zoned for Mineral
Resources under the Riverside County General Plan.
§ No water, wastewater, or power infrastructure is
present in the Project Area.

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8 City of Indio East Indio Employment Corridor Annexation Study Phase 1 Overview
3,320
acres
§ Evaluated 3,320 acres in the Eastern Sphere of Influence (SOI) § Assessed opportunities, constraints, infrastructure, and resources
§ Coordinated outreach with various interested parties, such as agencies, tribes, utilities, and stakeholders
§ Completed market demand and economic development
analyses
§ Compared three development scenarios for feasibility and growth compatibility

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9 City of Indio East Indio Employment Corridor Annexation Study Phase 1 Results
Area between 40th
Avenue and Fargo
Canyon Road has the
lowest level of constraint
(approx. 600 acres)
§ Opportunity and constraints analysis identified the area between 40th Avenue and Fargo Canyon Road as the most
suitable for development
§ Market analysis indicated demand for a mixed-use business park, with industrial uses showing the strongest near- and mid-term potential
§ Based on these findings, a conceptual land use program was defined:

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10 City of Indio East Indio Employment Corridor Annexation Study Updated environmental constraints reports and conducted hydrology feasibility study on the expanded Project Area to assess the risk of flooding in the area.

Held a roundtable with meeting with regional agencies, local jurisdictions, and service providers. Held individual meetings with County of Riverside, BLM, and City of Coachella.

Reached out to individual landowners in the Project Area to gather input on the Project.

Held a community open house to gather feedback from the public, developers, and property owners on the environmental constraint reports, market analysis, and potential land uses.

Conducted an online community survey to understand community sentiment about the Project goals and priority land uses.

Drafted three annexation and land use concepts, to be presented to the Planning Commission on August 12th for feedback and City Council on August 19th for direction on the preferred concept.

Phase 2 Progress to Date
4,609
acres

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11 City of Indio East Indio Employment Corridor Annexation Study Project Timeline: Phases 2 and 3
We are here!

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12 City of Indio East Indio Employment Corridor Annexation Study Land Use & Annexation
Concepts

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13 City of Indio East Indio Employment Corridor Annexation Study Concepts Overview
Explore trade-offs
Support strategic growth
planning
Inform City decisionmaking
Purpose ALL FOUR CONCEPTS SHARE
● Preservation of open space for habitat
conservation and environmental mitigation
● Light industrial, office, and retail uses under the
City’s Workplace Employment District Place Type

WHERE THEY DIFFER
● Amount of land included in the annexation
boundary
● Development area size
● Whether a residential place type is introduced
● Whether the CVMSHP Conservation Area and
federal lands are annexed

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14 City of Indio East Indio Employment Corridor Annexation Study Evaluation Criteria
Site & Environmental
Factors
• Waterbody protection
• Habitat preservation
• CVMSHCP compliance
• GHG emissions
• Presence of federal lands
Infrastructure & Services
• Proximity to existing infrastructure (water, wastewater, power) Fiscal & Community
Considerations
• Projected annual tax revenue
• Number and type of jobs
created
• Square feet of employmentgenerating uses
• O&M cost to City for public
services
• Capital costs of infrastructure
to developers
• Dwelling units of workforce
housing
• Compatibility with existing
uses/activities
Safety and Risk
Management
• Proximity to fault lines
• Proximity to flood hazard
zones
• Proximity to cultural/paleo
resources

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15 City of Indio East Indio Employment Corridor Annexation Study Concept 1A: Full Annexation, Employment Focus
Proposed General Plan Place Type Acres
Workplace Employment District 522
Parks & Open Space (multi-use park/flood mitigation) 60 Parks & Open Space (habitat conservation) 2,105
Utilities & Infrastructure (Stonewater Solar) 1,112
Desert Estates (agriculture) 242
Resource Recovery (existing quarry) 59
CVMSHCP Overlay 400
Weaknesses
High cost to developers ($361.9M)
Annexation includes conservation lands;
City would have oversight responsibilities
Fault zone and flood risk area overlap with
development area—require mitigation
Strengths
Very strong fiscal return-on-investment
(revenue-costs): $2.24M/year
Highest potential for future expansion due to
large amount of mitigation banking lands and
strong fiscal performance
5,049
jobs
4,495,392 ft
2 industrial space
$2.24M annual
fiscal return

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16 City of Indio East Indio Employment Corridor Annexation Study Concept 1B: Full Annexation, Adds Housing
Proposed General Plan Place Type Acres
Workplace Employment District 484
Parks & Open Space (multi-use park/flood mitigation) 60 Connected Neighborhood High (housing) 38
Parks & Open Space (habitat conservation) 2,105
Utilities & Infrastructure (Stonewater Solar) 1,112
Desert Estates (agriculture) 242
Resource Recovery (existing quarry) 59
CVMSHCP Overlay 400
Weaknesses
Highest cost to both developers ($364.67M)
and the City ($2.78M/yr)
Annexation includes conservation lands;
City would have oversight responsibilities
Fault zone and flood risk area overlap with
development area
Strengths
Provides 722 units of workforce housing,
which could help attract employees/talent
Strong potential for future expansion due to
large amount of mitigation banking lands
Highest annual tax revenue ($4.12M)
4,643
jobs
4,181,760 ft
2 industrial space
$1.34M
annual fiscal
return

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17 City of Indio East Indio Employment Corridor Annexation Study Concept 2A: Reduced Annexation, Employment Focus
Proposed General Plan Place Type Acres
Workplace Employment District 522
Parks & Open Space (multi-use park/flood mitigation) 60 Parks & Open Space (habitat conservation) 2,105
Utilities & Infrastructure (Stonewater Solar) 1,112
Desert Estates (agriculture) 242
Resource Recovery (existing quarry) 59
CVMSHCP Overlay 400
Weaknesses
Most limited mitigation banking area
Fault zone and flood risk area overlap with
development area—require mitigation
Strengths
Very strong fiscal return-on-investment
(revenue-costs): $2.24M/year (same as 1A)
Avoids federal lands and CVMSHCP
conservation areas—reduced coordination
responsibility
5,042
jobs
4,495,392 ft
2 industrial space
$2.24M
annual fiscal
return

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18 City of Indio East Indio Employment Corridor Annexation Study Concept 2B: Reduced Annexation/Development Area; Employment Focus
Proposed General Plan Place Type Acres
Workplace Employment District 522
Parks & Open Space (multi-use park/flood mitigation) 60 Parks & Open Space (habitat conservation) 2,105
Utilities & Infrastructure (Stonewater Solar) 1,112
Desert Estates (agriculture) 242
Resource Recovery (existing quarry) 59
CVMSHCP Overlay 400
Weaknesses
return-on-investment (revenue-costs):
$1.34M/yr
Lowest job creation (≈2,701 jobs)
Reduced capacity for phased expansion
Strengths
Lowest City expenditures ($543K/year) and
lowest cost to developers ($330.2M)
Lowest VMT (62,319/day)
Development area avoids major fault zones
and flooding risk
2,701
jobs
2,247,696 ft2
industrial space
$1.3M annual
fiscal return

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19 City of Indio East Indio Employment Corridor Annexation Study Technical Advisory Committee Meeting
§ Held August 6, 2026, virtually
§ Participants generally favored Concept 1A
(Comprehensive Annexation) for its long-term strategic
benefits
§ Housing needs are expected to be met through infill
development; annexation is not needed to expand
housing capacity
§ A larger annexation area was viewed as maximizing the value of the annexation effort
§ Existing City staff experience coordinating within
CVMSHCP conservation areas
§ More coordination is needed with CVWD water and
wastewater engineering staff
Participants
City Manager’s Office
Economic Development
Engineering
Finance
Coachella Valley Water District
Indio Water

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20 City of Indio East Indio Employment Corridor Annexation Study LAFCO Process
28 Page 26 of 29 AGENDA ITEM #10.2
Receive a presentation, project update, and input from the Planning Comm... Page 850 of 953 21 City of Indio East Indio Employment Corridor Annexation Study Local Agency Formation Commissions (LAFCOs)
Established: 1963 by State
Legislature
Role: Oversees city/county
and special district boundary
changes
Purpose: Encourage orderly
growth and efficient service
delivery
Balance: Growth, open space
preservation, and agricultural
protection
Riverside LAFCO: Reviews
annexations and other
boundary changes within
Riverside County
32 Page 27 of 29 AGENDA ITEM #10.2
Receive a presentation, project update, and input from the Planning Comm... Page 851 of 953 22 City of Indio East Indio Employment Corridor Annexation Study LAFCO Annexation Process
City identifies
annexation
area
Community
engagement
and outreach
Pre-application
discussions
with LAFCO
City adopts
resolution, prezoning, and
General Plan
Amendment
City-County tax
exchange
negotiation
LAFCO review
and staff
analysis
LAFCO public
hearing and
decision
Protest period
Final filings
and boundary
update
1 2 3 4 5 6 7 8 9
Application Requirements
§ Plan of Services
§ Boundary Description
§ California Environmental Quality Act Compliance
§ Fiscal Impact

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23 City of Indio East Indio Employment Corridor Annexation Study Next Steps
Present to Council
(Aug 19th) –
Preferred Concept
Initiate CEQA
environmental
review
Finalize Fiscal
Analysis based on
Preferred Concept
Complete Services
and Utilities Plan
2 nd Public
Workshop, online
survey & outreach
to landowners
Prepare LAFCO
Application
Back to PC and CC
for GPA and Prezoning

Page 29 of 29 ends

City of Indio
City Council
August 19, 2026

STAFF REPORT
To: City Council
From: Jonathan Nicks, City Manager
Prepared by: Brian Halvorson, Dir. Of Community Development Subject: Introduction and First Reading of Ordinance 1843 Approving a Fourth Amendment to a Development Agreement with Pacific Indio Properties to Extend the Term of the Agreement that applies to approximately 241 acres of land, extending north from Interstate 10 to Avenue 42 and east from a boundary between Clinton and Monroe Streets near Jackson Street.

RECOMMENDATION:

Approve a Fourth Amendment (PLAN-DA-0004) to a Development Agreement with Pacific Indio Properties extending the term of the Agreement by Five Years.

SUMMARY:

A fourth amendment (PLAN-DA-0004, Attachment 1) to the DA with Pacific Indio Properties has been requested in order to facilitate additional development which has been an area (The Palms) of increased development activity recently which has included tenants such as Raising Canes, In & Out Burger and Sumo Dog which have been constructed and occupied. Design review entitlements at The Palms have been conducted through an Administrative Design Review process and is intended to be followed for future buildings that are constructed by the applicant, if the DA remains active. Allowing the lapse of the DA would be detrimental to the development community. Therefore, the applicant, Stan Rothbart, has requested a 5-year extension to the DA terms.

BACKGROUND INFORMATION:

The City of Indio and Pacific Indio Properties, Inc., entered into a DA dated November 27, 1991, which was recorded on February 11, 1992 (Original DA, Attachment 2). Special Development Standards for the Pacific Indio Properties apply to the Planning Areas that encompass the original DA.

The first amendment to said DA was subsequently amended on September 3, 1997 (Attachment 3).

The original DA and the first amendment applied to approximately 242 acres of land extending north from Interstate 10 to Avenue 42, and east from a boundary between Clinton Street and Monroe Street to near Jackson Street.

A second amendment was entered into on November 20, 2010 (Attachment 4). The second amendment did not encompass the entire site and was entered into only by certain owners of real property within the site as set forth in the second amendment which included real property of approximately 11 acres in size and generally located immediately south of Avenue 42 and immediately west of Spectrum Street. It also encompassed certain real property with the site AGENDA ITEM #11.1
Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 854 of 953 consisting of approximately 21.5 acres and generally located along the north side of Interstate 10 immediately west of Jackson Street, immediately south of Avenue 42 on both sides of Caspian Street, and immediately south of Showcase Parkway and immediately west of Caspian Street.

On July 14, 2026, a third agreement to the DA was recorded (Attachment 5). The owners of the third agreement will also be signatories to the fourth agreement. Stan Rothbart, with Rothbart Development Corp, applied for a fourth amendment (PLAN-DA-0004) to the DA in order to continue development within The Palms commercial center. At this time, the only request is to extend the DA for an additional 5-year term.

The City has determined that the fourth amendment to the DA is exempt from environmental review pursuant Environmental Quality Act Guideline Section 15168(c)(2) and the impacts associated with the DA were previously analyzed in Environmental Impact Report 90-1. No further environmental review is required.

ATTACHMENTS:

Attachment 1 Ordinance 1843
Attachment 2 Original DA Pacific Indio Properties
Attachment 3 First DA Amendment
Attachment 4 Second DA Amendment
Attachment 5 Third DA Amendment
APPROVAL(S):

Ruby D. Walla, Director of Finance Approved - 12 Aug 2026 Steven Graham Pacifico, City Attorney Approved - 13 Aug 2026 Jonathan Nicks, City Manager Approved - 13 Aug 2026

Page 2 of 100 ends

Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 855 of 953 ORDINANCE NO. 1843

ORDINANCE OF THE CITY COUNCIL OF THE CITY OF INDIO,
CALIFORNIA, APPROVING A FOURTH AMENDMENT (PLAN-DA-0004) TO PACIFIC INDIO PROPERTIES, INC., DEVELOPMENT AGREEMENT NO. 13-3
WHEREAS, on or about January 19, 1992, Pacific Indio Properties, Inc. and the City of Indio ("City") entered into a Development Agreement designated No. 13-3 in the City's official records and recorded in the official records of Riverside County as Instrument Number 047277 (the “DA”); and, WHEREAS, that certain "First Amendment to Development
Agreement," dated September 3, 1997 (the "First Amendment"), implemented a Memorandum of Understanding that modified previous entitlement conditions, clarified certain operative provisions, and extended the original term of the DA for an additional five (5) years to a total term of twenty {20) years from the original Effective Date; and, WHEREAS, neither the City nor any property owner(s) of the site subject to the Development Agreement (the "Site") has expressed any desire to change or in any way modify the standards, or the substantive terms and conditions under which the property will be developed as covered by the DA and First Amendment; and,
WHEREAS, a Second Amendment to the Pacific Indio Properties DA (the "Second Amendment"), dated November 20, 2010. The Second Amendment did not encompass the entire site and was entered into only by certain owners of real property within the site as set forth in the Second Amendment. The Second amendment extended the term of the Amended Development Agreement until and through January 19, 2022, and such term applied exclusively to the terms of the Amended Development Agreement that addressed permissible land uses of the site and the density thereof; and, WHEREAS, a Third Amendment to the Development Agreement was entered into on January 19, 2022, by and among the City of Indio and certain owners of real property subject to that certain development agreement by and between the City and Pacific Indio Properties, Inc. and an extension of 18 months was approved to allow the owners that are signatories to the Third Agreement additional time to pursue the development opportunities that were lost during the COVID-19 pandemic; and,
WHEREAS, the proposed five (5) year DA extension per the Fourth Amendment to the Development Agreement would extent the DA to July 19, 2028, by and among the City of Indio and certain owners of real property subject to that certain development agreement by and between the City of Indio and Pacific Indio Properties, Inc.; and,

Page 3 of 100 ends

Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 856 of 953 WHEREAS, the City has determined and specifically found that per California Environmental Quality Act Guideline Section 15168(c)(2), this Fourth Amendment does not require any new environmental analysis or the preparation of any new environmental document because: (i) the Fourth Amendment does not modify existing land use designations or development standards and regulations for the Site that remains subject to the DA, and will have no impact upon the environment beyond that analyzed at the time of the DA's approval, and (ii) the Council findings concurrent with the approval of the DA that the environmental impacts associated therewith were analyzed in the environmental impact report designated EIR 90-1 were correct; and,
WHEREAS, Section 18 of the DA allows the DA's amendment, in whole or in part, by mutual consent of the Developer and the City.

NOW,THEREFORE,THE CITY COUNCIL OF THE CITY OF INDIO,
CALIFORNIA, HEREBY FINDS, AS FOLLOWS:

1. The above recitals are true and correct and hereby incorporated by reference herein together with all definitions set forth.

2. The Fourth Amendment to Development Agreement 13-3 is consistent with the goals and policies of the Indio General Plan.

3. The Fourth Amendment is consistent with the land uses and density for the site specified in the General Plan and the development standards for the site.

4. The Fourth Amendment is consistent with the Zoning Ordinance of the City of Indio, compatible with the present and future logical growth of the site (as envisioned in the Indio General Plan and with the adopted development standards), and designed to protect and promote the public health, safety and welfare.

5. The City Council hereby finds that amendments to the Term contained within the Fourth Amendment (PLAN-DA-0004) to Development Agreement 13-3 will not modify existing land use designations or development standards for the original project site, that there will be no impact upon the environment beyond that analyzed at the time of the Original Development Agreement adoption, and that pursuant to the California Quality Act, this project was previously reviewed as part of Final Environmental Impact Report 90-1 for the Pacific Indio Properties and therefore no further environmental review is required for the Fourth Amendment to the Development Agreement.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF
INDIO, CALIFORNIA, DOES HEREBY ORDAIN AS FOLLOWS:

Section 1. That the above recitals and findings are true and correct, incorporated therein by this reference inclusive of all definitions, constitute

Page 4 of 100 ends

Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 857 of 953 the findings of the City Council in this matter.

Section 2. That the Fourth Amendment is hereby approved.

Section 3. That a fully executed copy of the Fourth Amendment to Development Agreement 13-3 between the City of Indio and Pacific Indio Properties, Inc. is on file in the Office of the Clerk and will be recorded at the Office of the Recorder for Riverside County.

Section 4. That the City Attorney shall prepare a document consistent with the adoption of this ordinance and shall cause said document to be recorded in the Official Records of Riverside County.

Section 5. That the City Clerk shall certify to the passage and adoption of this ordinance and shall cause a summary of same to be published once in the Desert Sun, a newspaper of General circulation, printed, published, and circulated within the City of Indio and the same shall be in full force and effect thirty (30) days after its adoption.

PASSED, APPROVED, AND ADOPTED this 19th day of August 2026.

ELAINE HOLMES, MAYOR
ATTEST:

CITY CLERK
_____________________

SABDI SANCHEZ,MMC
DIR. OF CITY CLERK

SERVICES

Page 5 of 100 ends

Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 858 of 953 RECO! IDfNG REQUESTED BY AND
WHEN RECORDED M.\IL TO:

DAVID EnWIN

BEST, BEST & KRIEGER
39700 BOB HOPE DRIVE, ~ 1JJTE 312
P.O. BOX 1555
RANCHO MIRAGE, CA 91170
lV, 2U\ OOl' I.\DEYRLOM. AOM
n;,' YELOPMENT AGREEMENT

BETWEEN

CITY OF INDIO AND
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 859 of 953

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 860 of 953

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 861 of 953 DEVELOI' ME," ff ;\.GREEM. ENT
Govt. Code Sections 65364- 65869. 5)
1lffS DHVHLOP! vffi.l\ff AGREEMENT (" Agreement~) is entered into as of the 27th day of Novcmlsor, 1991, between ? AClF! C INDIO PROPERTIES, INC., a c:a1Uo111lil CJrporation (" Property Owner") , ind City OF INDIO CCity~), a municipal corpora1ion organ•!.'.'. d and exi~1.ing under the law5 of the State of C:ilifomia.

RECJTALS
This Agreement is predicated upon the foilowin3 facts:

1. Govemment Code Sections 65864-~ 65869. S authorize <: ity 10 e.nter in.in binding dcvc! opmer., agreements with persons having leg~ tl or equitable intel' t"st.'> in real property for the devdopment of such property.

2. Under $ t,'<.1ion 65865, City bas adopted mtes an< l rcgul. ztinns e.Tiib!! shint procedures and requirements for consideration of development agreem. er-ts.

3. Property Owner is the fee owner a.n<l proposed developer of approximately two hundred forty one ( 241} acres of I.and as described on Exh.ibi1 " A~ (t,be " Rt:3.1 Proi"?ett:,n which is locate< i in City.

4. c:ty'~ general plan designat. ion for the Real Property is agrictdrure, urm...'! transitional, low density resicemial and touri! tt. Devclop, er MS re.que5tod City to ,:ipprove:

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 862 of 953 a) An amendment to the general plan (" GPA No. 90-10-86") which would designate the Real Property for regional commercial, tourist co'11mercial, light industrial and medium density residenlial;
b) A re:wning cf the Real Property (" Zone Change No. 90- 10-524~) from its current zoning to C-7.. ( general commercial), C-3 ( heavy c.ommercial), C-T (commercial tourist), M ( industrial}, O ( office), ?., nd r 3 ( multifamily residential); c) A Tentative Tract Map No. 26535 ('' T<;nt:itivc 1.'mct V.,.ap No, 2658.':i"); and
d) Environmental Impact Report No. 90-l ("BIR No. ~- I").

5. Property Owner propo!! eS to rfovclop a multi- phased ma,~ ter pLwned mixed use proy, , Jn the Rea! Property over an ~ xtcnd1; J p,eriod of time.

6. Property Owner has rcquestr, d City to consider entering into a < levclopmcnt agreement and proceedings have been W.ken in accordance with City's mies :- ini1 regulations.

7. City Council of City h,is found that this Agn.,"" Cment is consistent w, u the General Plan.

8. City Council of City has found and dctennined that the e;,;ecution of ! his Agreement is in the best interest& of the public health, safety and genera. I wdfare (. ·/ ,-: md its residents and that adopting this Agreement constitutes a present exercise of it~ police power.

9. On November 27, 1991, City Council of Indio ad.opted Ordinanr. e No . .LlJd .. &. appmving this . Agreement with Property Owner and the ordinance thereafter took effect on 6, 7) a_, 191_ JNOW, THEREFORE, the parties agree:
l. Oefioitiom. In this Agreement, unless the context otherwise rcquinc,~ a) " City~ is City oflndio, California.
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Page 10 of 100 ends

Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 863 of 953 b)
Re.al Property" is the R..al property described in Exhibit " A~ hereto. c) " Projc-ct" is the development ofReal Property as a multi-phased mir.ed use project w;tlt commercial ; ndustrial, office and res;dential uses as pcrmitte< l by: ( i) change of land us,e des;g;1aOon for tltc l>.e.11 Propcny, approve< l by c;ty Coundl of c;ty pursuant to GPA No, 90-10-86 and Zcr.c Chanee No, 90-10-524; and ( ii) tlte entitlements approved by c;ty Council pursu:rnt to Tentative Tract No. 26585 ; 111d BIR No. 90··1. d) " Pn:. perty Cwncr" m~ris the person havinf; a legal or equitable- intere:> t in the Rr.1! Property and includes, the pwpmy Q« n:::': •:••"''"" in interest to all or any pait of the Real Property.
2, ! lx)1ilii1S, The follow; ng documents are referred to in this Agreement, att,,clicd Exhibit
X&W.atLQn
A
B
C
D
Rea.I property
Map of Zoning Designation
Map of General Plan Designation
Reimbursement Af:: cement
3, Reference to () llwr DQ<; JimeQt;, Rcfcmnce ;, made to the following addit; onal documents nnd procce,Engs relating to the Project to which reference is made fc, , dier particulars:
fM1Ui\ 0011. IOBV! l.LOPl. AOM
City's General Plan
General Plan Amendment No. 90-10-86
Zone Change No, 90-10-524
fontative Tract Map No. 26585
Environmental Impact Report No. 90-1
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Page 11 of 100 ends

Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 864 of 953

4. f..o~J.:~l·11..of.J~IQJ.~ 11Y~- Property Owner xprescnts that it has a legal interest in the ReaJ Property and that all other persons holding legal or equitable interests in the Real Property uc to be bound by this Agreement. 7.'hc ~; d Property is hereby made subject to this Agreement.

5. 85-filf!J.llilt_rrt. Property Owner shn.H have the right to sell, trn.osfcr or assign its egal interests in an< l to the Rea.'. ~- rop:~ rty, in whole or iI1 p: ut, to any person, partne: ship, joint ventme, firm or con:: oration at any t.imc: during ! he term of this Agreement. Concurrent with any such sa! e, transfer or assignment, or within fift~n ( 15) business ( fays tbereaft. cr, ? rope:iy Owner shall notify City, in ,vritirig, of :.uch sate., transfer or assignment and shall provide Ci1y with an executed agreement (" Assumption Agreement"), in a form re.1.sonably acceptable to City, by thL·
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Chascr, ! mn~fr,n-.,e or 1ssi3nce and providing r.h~rein that the purchaser, transferr, e or assignee expressly and unconditionally assumes all the duties nnd obligations of Property Owner under this Agreement.

N0twithst..· rnding the faih: rc of any purchaser, transfcn." e or assignee to execute nn A.' 5sumption Agreement, the burdens of this Agreement shall be binding upon such purchaser, transferee or assignee, but the benefits of this Agreement sha.!! not inure to such purch,' tser, tram: feree or assignee until and unless such Assumption Agreement is executed, Notwithstanding any sale, transfer or assignment, a iransferring . Prop:~ rty Ow:1er shall continue to be obligated under this Agreement unless wch transferring Property Owner is givc:1 a rel& 1se in writing: by City which release shall be provided by City upon the full satisfaction by such transferring Property Owner of the following conditions:
a) Property Owner no longer has legal or equitable interest in the part of :he Real Property subj<'.. ct to an Assumption Agreement;
b) Property Owner is not then in default under this Agreement; and 411-'. V121l6\ 00l!. IJ) BVR1. 01' 2.AOM 4
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 865 of 953 c) Property Owner has provided City with the notice and an executed Assumption Agreement.

6. S.\ lb. sm. umLAsfilgnmmt. Any subsequent sab, transfer or assignment after an initial sale, transfer or assir, nment slla!! be made only in accordance with, :: md subject 10 the tenns and condi! ions of, Section 5 herein. Notwithstanding Section 5 of this Agreement, in the event that any person or entity (" Property Purchaser"), purrha,; cs a p," Jrtion of the Real Property the " Purchased Parcel") and th~ Property Purcha.~ cr 11. nd City exe. cute and record a development agreement is recorded, this Agn,,";; mcnt shall c:asc to aµply 1. 0 the Purchased Parcel and the owner of the Purchased Parcel, as such, shall have no rights or obligations under this Agreement, and ---,._, ocrty Ownc: hereunder shall b-e rc! ca.'> t:.d from its obligations under this Agreement with respect to the Purchased Pa. reel as provided in Section 5 but without any rca11irement to satisfy the conditions ret forth in such Section. 7. m!:! di. ng. J:,ffuL. 12LAgwmtnt. The burdens of this Agreement bind nnd the benefits of the Agn~ ment inure to the successors in interest to the parties to it. Bubj<', ct to compliance with Section 5 herein. S. E~
JaJ: j.911,' illi! L0. fhn. i~-It is understood that the contractual rda. ticnship between City ,:u1d Property Ownm· is wch that the :?rope, ; y Owner is an independe. nt contractor ; md not the agent of City, 9. T.
w_ n. '. fhe term of this Agrccmcnl. shall commence upon the Effective D: i.te of this Agreement and shall continue for a period of fifteen ( 15) years thereafter. As used herein, the term " Effective Dil. te" shalJ me.- 1n that date which is the later to occur of: (a) the time for filing a referend11m petition relating to this Agreement expires ifno such petition is filed within such period; ( b) the results of n referendum c:k . . ction arc <leclzred approving this Agreement if 4111:\ AlM\ 0011:\ DiWJll., 01' 1.AOM 5 ii :• • '

Page 13 of 100 ends

Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 866 of 953 a referendum pctition is filed within the applicable period; or (c) in the event of any legal actjon relating to or affecting the validity or enforceabifoy of this Agn-. ement, including without limitation ~ ny < 1ction ch. 1! lenging the approval or validity of this Agreement or any referendum related to it, tile date of dismif; sal \ l/ith prejudice of the , 1, ction, or of final dispositicn of the action by the c0u1t and exli:.iustion er tem1ination of all applicable periods for judicial review, whether by writ, appeal, or othcn' lisc.

Vi>,stc(I Ri.gl]l,~. It ls the inient of the Property Owner ,md City timt: { a) GPA No. 1, which designate the pennitted uses of the Real Prope: ty, shall be vested in the Pro1Jerty Owner for the term of this Agreement. GPA No. 90- 10- 86, Zone Change No. 90- 10- 524, f\~:l!ativc Tract No, 26585 and BIR No. 90- l as well as th~ ordinances, resolutions, c-.orfr•. s ( other than Unifom1 Codes), mtc~ .. regulations, i!-.nd official po!icic!I of City governing the development and use of tJie Rea.l Property as of the date of this Agreement (" Agreement Date"), including, without limitation, the permitted uses of ( he Real Property, the density and intensity of use., the maximum height and size of proposed buildings, the provisions for reservation or dedication of land for public purposes, irnd the design, improvement and constmction standards and specifications applicable ;, o the development of the Real Property :; ha. II be hereinafter C' l!JcctiveJ:. 1 referred to as the '' Development Plan." By entering into this Agreement and re1ying thcre,-: in, ro~ rty Owner is obtaining a vested right to proceed with the Project in accordruicc with tlir.-.

Dcvelcpment Plan. To the extent any of the foregoing are amended from time to time with ~/ J!.:· cc-nsent of Property Owner, the " Development Pl:;.n" ~ haH include such matters as s.o amended.

Any site specific development applications
1 submitted subsequent to and < luring fhe tem1 of this Agreement, shall be reviewed to b;; in compfornce with the Development Plan, includir. g wid1qut limitation the provisions of City Code Section 25 . 195. Sub~~ uent site specific development 4\R\A2MIOOl! IDBVnLOl' 2.AOM 6

Page 14 of 100 ends

Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 867 of 953 may apply for and receive up to the maximum density or intensity as set forth in the appUcable z.cning designation on the Agreemer: t Date as designated in EIR No. 90• 1; provided, however, that with respect to the portion of the Real Property 7,0ncd R· 3 ( Mul! i--family residential) the density ~/ Jal! not exceed fifteen ur.'. ts per rJ.Crc.

To the extent that the maximum density or intensity of a propos~'. d site specific development •~ xcceds that set fo,1h in HtR t,Jo. '. JO- l, City reserves the right to require additional CEQA enviromr: en! Jl review of any such subst, qucnl site specific develofnnent, Conditions may alleviate potential en-, ironmcntal impacts as:: cciatcd with such increased density o, intensity nf use.

With respect to Government Code Section 65865. 2, the development regul2- r.i.,:::~s governing subsequent discretionary actions arc the ordinances, and regulations 1tnd official policic. J of City adopted as of the Agrremcnt Date. As provided in Government Code. Section 6_ 5865: 2, __ ~_! IY :, ubsequent discretionary action$ by City or any conditions, tcnns, restrictions and requircm(; nts for such discretionary actions by City shall not prevent the development of the Project for the uses and to the maximum density or intensity of development set forth in this Agreement. City reserves th0 1ight to impose on subsequent development approval$ anv Jic~ rf~ taxes, benefit assessment') or impact fees adopted and effective at the time of development approval and having n bc: 1efit area consisting of no less than the are'. 1 bm, nded by the Shadow Hills Area or of general application to developments then 1,~ cated in City, I l. Iim. inufJE. YdQ121I!! ID!. The Parties acknowledge: that Property Owner cannot at thin time predict when or the rate at which phases of the Real Property will be developed.

Such decisions depend on numerous factors which are not within the control of Property Owner, such as market orientation and demand, interest rates, absorption, competition and similar 4\ll.\A'lll6\C()ll.10IlVlll.. OM. hOM 7
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 868 of 953 s. Since the California Suprt .. ine Court held in Pardee Coostmction Company v City m· C. illlli! IilLQ ( 1984) 37 Cal. Jct 465, that the failure to the part1~ s therein to provide for the timing of development resulted in a later adopted initiative restricting the timing of development to prevail over \ UC/ J parties' agreement, it is the parties' intent to cure th?. t deficiency ! 1y acknowledging and providing that, to the extent permitted by the Development Plaa and this Agreement, Pri::; pe11y Own1~ r shall have the right to develop the Project in pha2es in :.uc~,_ order and at such rat. c and at -- ich times as Property Owner deems a. ppr0priate within the exercise of subjective bttsincss judgment. Accordingly, City agrees that, neither City Council nor City nor any other agency of City shall enncl ; rn ordinance, policy, rule, regu! atlon or other : nC": lsur.:
applicable to the Proje, ct which relates to the rate, ti;r.ing or sequencing of the development or construction of a! l or any part of lhe Pmje<:: t m which is 01_ 1-.,erwix in ,;- 0nflict with the Pm} r,rt l.1: dc'.:cribd iu this Agrr: tment. Ir, i\ddition to and not in limit- uion of the foregoing:, i1 is thr.:
intent of Property Owner and City th& I no moratorium 01· other limitation ( whether rckting tc tho rate, timing or Scql! cndng of the dcYclopmen! or constmction of aU or any r,m 0f th•:-:

Project and whether or not efl. ll.cted by l.nitiative or otherwiic) ;' l.ffcding subdivii; ion m::, r~. imitntimi b h mnflict with this Agreemem. ' Tit- e foregoing ~. hail no! be dc-<.' J11t: d eo limit ; J;::

Property Owner' s right to ippeal ~ ny ddermination of wch nrdinanct:, gcne, ml p!~ si nr ? l:nir\ g amendme: 1t, measure, policy, mlc, n..-~ bti- on ~ moratorium or other Hmit..: 1tion which ; 1; irp,:-; rti:
to invalidntc: or prcvatl over all or : my part of tllis Agreement. City a.groes to cooperate '., vii.h Property Owner i.o ~ H reasonable manners in order fO ke., T , hi:. ,<'\. g:reement In fol! force ; 1_nd effC' f:t.
411lt\ A2U10Qa\ DUViiLO!"' l.AOM

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 869 of 953

12. iS~.rJD& KY,llikti2n12tU&...':'. rJQi,lW .. YJJL.0LJi~JL.PJ:QJm.tx. Specific restrictions as imposed pursuant to Tentative Tract Map No. 26585 govern the u~ of the Rea! Property. To the ex.tent such restrictions are. inconsistent with the provisions of this Agreement, the provisions of this Agreement shall prnvail. In c0nne. ction with any , 1pprnval which City is permitted or bas the right to make under this /\ gr('.. cment. rn! ating ! o the Project, or otherwise under its other mlcs, regulations and official policies, City .~ lmll e:: ercise its discretion to tak~ action in a manner which is as expeditious as pc ) bk and which c- omplic:::: ai1d is consistent with the Development Plari and the terms and conditions of this Agreement, and in a manner which wilJ not interfere with the development of the Project :: Or the uses and to the height, density and intensity spr., cific< l i:1 this Agreement or witJi the rate of development selec~ ed by Property Owner. City shall acc,-: 1t for processing and timely review and act on all applications for further land use en;.,,. ; 110nt approvals with respect to the Project called for or required under this Agrt': Cment in ; is expeditious a manner as is possible. Such applic. 1. tion shall be processed in the nomw. l manner for processing such matters.

13. £ 11bfa;,1_111J2£ 9_YMJ..\W.t.s..,_:Ea0li 1ies. and Services.

J.lJ. Prope11y Owner, in order to develop the Project and to mi~ jgatc. certain impacts resulting therefrom, will have to comply with the Conditions of Approval for Map No. 26585 and the Mitigation Monitoring Cl1ecklist for the Project. ll2 For those public improvements or facilities (" Facmtics") designed, constructed or installed by Property Owner whicb benefit not only the Reai Property, bm al.~ o property ln addition to the Real Property (" Bcnefitting Properties") a reimbur.; cmcr: r agreement the " Reimbursement Agreement") shall be exccute..' 1 by City and Property Chvncr .

Ll.,) Tiw Reimbursement Agreement ;; hall: ( a) be in fom1 and substan- ee identical to Ex. hibit HD" attached hercto arid incorporated herein by this reference; and 41ll. lA1UIOO' RIDU VllLOl" l .AOM 9

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 870 of 953 JDvidc for reimburseme11t to Property Owner when: ( i) a Benefit Zone Srudy prepared pursuant hereto shows that, with respect to any public improvement or facility designed, constructed or installed by Property Owner, there exists Benefitting Properties; or ( ii) Property Owner is enti! led to reimbursement pursuant to City ordinances, resolutions and policies, e. g., reimbursement for certain warer, sewer and stonn facilities .

Ll..1- City shall, from time to time, at the rcque:. i of Property Owner and at Property Owner' s expense, L \ SC an cnginec1ing benefit zone study (" EBZ Study~) with respect to one or more of the Fnciiities to be prepared ana, after review and acceptance by City of the 1Z Study, shaU enter into Reimbursement Agreements with Property Owner wirh ~- p-~c: 10 the Benefitte- d Proj) Crties identified in such Study.

14. J, Q- t;ffilllt.~~. JB.~ tcr. ff City detcrmbe:: on thr. har, is of .~11llstm1i. n! evidence that Property Owner has 1101 oompi! ed in g;ocd faith with ihi:-: ! crrm: and conditionr- ef this Agreement, City shall, by written notice to Property Owr.er, specify the manner in which Properly Owner has failed to !".<l ccmply and st.. 1te the st~ Prcpcrty Owru~ muct !; i.ke ( o h1nr itself into complinnr., r., lf, within nindy ( 90) driys ~ fter tfa! cffectfvc tfate of lXi"ticc f:om Cit~· specifying th~ manm: r in which Property Owner has failed io so comply. Property Ownet d1:'1c.'; not commence ail steps reasonably ner.. essary to bring itself into C".,Dmpl. ia.i~ as re.quin-..~ i :?:Yl thereafter diligently pursue such steps to completion, then Property Owner . shall be dcf! mC{ j l~) be in dc:foult undc, rhc terms of this Agreement and City ma? !~ ni.!');l.te thL-; Azw..eir.!?'TTl i=' accordance with the provi: ciions of City ~... olut. ion No. 5294

1. 1.,. 2. l&.fw.UJr. v...C.~- ff Property Ollvner determ. ine:.~ on the ~ si5 of 5Uhstantfa. 1 evidence that City has not complied in good faith with the t.erm~ and condif. ioos of this Agreement, Property Owner shall, by written ! KJtice to City. q,ecify rf;-t: manner in which City 4111\ A2t6\! lOl'.IIDBVlll. 01'1.,\0M 10

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 871 of 953 n.as failed to so comply and state the steps City must take to bring it.self into compliance. If, within ninety ( 90) days after the effective date of notice from the Property Owner specifying the manner in which City has failed to so comply, City does not commence al! steps re3sonably necessary to bring itself into compliance as required and thereafter diligently pursue such steps to completion, then City shall be deemed to be. in default under the temrn of this Agreement arid Property Owner may terminate this Agreement or .~ eek specific pclfor- nr,ce as Sci forth ir.

Section 14. 3.
it will not be practic. 1. l or possible to restore ihc RcaJ Property to it! i ni\ turnl cond! tion once irr.; olanentation of this Agreement has begun. Afte. r such implementaticm, Property Owner may 1,
e forec! oS1'.- d from other choices it may have had fo urifo.•. c the Rt:' 1! . Property ; rnd _ rrov: J~ for other benefits. Prop,::: rty Owner has invc.~ted <: ir,niflc:mt time and rcwJrce'.' I : 1o< l p-erfont1&." l cxten~ivc ptanniog ! ind processing of the Project in agreeing: to the ierms 0fr.hts Agn:.-crn~l an<l will be invl': sting even more i.Ubss! lntial lime <(! 1d re~ mrces in imple-: mer. ting the Projt. el' in reliant~ tlj) On ihe tcnn5 of this Agreeme- nt, and i! is not po! tSib! e ~ o d:-! 1! nninc the mm of mtmcy which would adequately c-ompensalc Property Owmer for m.1ch dforts. For tJic: nbo- ve ~!~•:. carry out its obligations under ! his Ag: rc, r_men1. Therefore, 0)".:: dfo:: perforn: mnce r-f il!ir Agreement is th<:! only remedy which would o::, mp,: nsare Property O"" vner if City fails to r:.T:;_1· out its obliga. ticns under the Agreement, and City herrby agrees th. 11 P~ rty O, vocr sh~ i! b(! entitled fo ~ ific perfr•: maoce in the event of a default by City hercmtrler. Notwitb! t2: ndb. g the foregoing, nothing in this Agreement is intended to deprive Property Owner from recovc- r·intappropriate damages in 1he event trn': t the lerm!' l of this Agmeme. m are b~ chcd.. City : md Property Owner acknowledge that, if Property Owner fa. its to carry oo" i ils oblig; Uiort'> u.r.der r.h.i~ 411l\ A1& S\OOXIDIIVF. LOM. AOM 11
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 872 of 953 Agreement, City shall have the right to refuse to issue any permits or other approvals which Property Owner would not otherwise h;: ve been entitled to pursuant to this Agreement.

Therefore, City' s remedy of terminating this Agreement shall be sufficic! l! in most circumstances if Propeiiy Owner fail:; to carry out its obligations hereunder. Notwithstanding ! he foregoing, if City issues a permit or o!hcr approval pursuar. t t0 thi:; Agreement in reliance upon a specified condition being satisfied by Property Owner in the future, and if Prcperty Owner th~n foiis to satisfy such condition, City s!. JI be entitled to specific P'.! rforrnancc for the sole putposc of cat1~inr. Property Owner ro satisfy such condition. City' s :-:ight to specific performance sb;:;)l b~ limited to thos,~ circmnsia. nccs set forth <. ibovc, and City shall h?.vc ! lO iight HJ ~,~ k spcci.fic perforrnancc to cause Prope11y Owner to otherwise proceed with the development of the Project in : my tmi.r.ncr.

15. rru;ruJUlLu!) QIL\)_.daull,
a) Upon the concurrence of any event of default, City may 1r: m1innte ll;i:; Agreement in accordance with the procedures adopted by City. b) City docs not wa. ive any claim of defect in performance by Property Owner implied if on periodic review City does not propose to modify Dr terminate the Agreement. c) Non- pe: formance shall not be excused because of 2. failr. ire of <\ third person.
d) An express repudiation, refusal or remmci; J. tion of the Agrezment, if !11e same is in writing and signed by the Fropcrty Owner, shall be sufficient to terminate ! he Agreement and a hearing on the matter shall not be required. e) Non-perl'onnance shall be excused only when it is prevented or delayed by & cts of G0<: l or nn emergency declared by the Governor, 4\~\A2UIOOll:\ PBVELOP1. AOM 12
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 873 of 953 f) All other remedies at law or in equity which arc not otherwise provided for in the Agreement, or specifically excluded in the Agreement, or in City' s regulations governing deveJopment agn:-.. cments are available to the parties to pursne in the event : here is a breach.

16. : f:Jo) d H,1m1t~ s~. Property Owner agrees to and shall hold City, its officers. agents, employees and rqJf-esentatives harmless from liability for damage or cl2.ims for damage for personal injury includh,,., de.a.th and claims for propt: rty damage which may arise frorr; the iirrr.t ( lf indire..r1 0per,1tions of the Property Owner er th0se of his contractor, subcontractor, agent, employee or other person acting on his behalf which relate io the : Project and subsequent development approvals. Property Owner agrees to and shall indemnify and defend City and it.s officcr8, <, gents, employees and representatives from : 1ctlons for damages caused or n! lr:grd t,o have bcc: 11 causr, d by reason of Propcny Owner' s activities in connection with the Projc{~ t or subsequent development ::. ppr- ovals.

City agrees to and shall hold ham1lcss Property Owner, its officers, agen1s, cmp: Jyees, partners and representatives from liability for damage or claims for damage persona! injury including dec1th and claims for property damage which may ariS<! from the activitir~ s of Cit~.' or those of City' s contractors, subcontractors, agents, emplo~ ces or other person~ ~ c~ ini_; on City's behalf which relate to the Project. City agrees to and shall defend Property Owner and its officers, agents, employees, part. nets and rcpre~ nlat! ves from actions for d; images r..au.~ ed or allcgi: d to have been caused by reason of City' s activities in conne'.: tion with th~ Proj:: x:L Property Owner further agrees to indemnify, hold harmless, pay all costs - 1.nd provide a defense for City in any action challenging the validity of this Development Agreement. 4;J1. 1A1U. IOCRIOBVP. L0? 2./\0M 13
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 874 of 953

17. a) City and Property Owner shall review this Agreement at least once every 12-rnonth period from the date this Agreement is exe. cuted. City shall notify Pmperty Owner in writing of the dare for review at least thirty ( 30) days prior thereto. b) Du1ing r/:ch pciiodic review by City. each party is required to demonstrate good faith compli. aocc witJi the tem1s of the 1\ grcemcnt. Ea. ch Party & grccs to furnish such evidence of good faith compliance as the other party in the exercise of its discretion may require.
cancelled in w!nle or '.n part onJy by nrntm: l consent of il1e parties <\ nd in !be manner provided for \ n government Code ~. cctions 65868, 65867 and 65867. 5. i.n addition, the parties : icknowledge th;:t refinements and further development of the Project may demonstrate that changes arc appropriate with respect to the Jetaiis 3.w::
pcrfo:- nrn: 1cc of the parties under this Agreement. ' The parties desire to rct1lin a certain dr.;.!tee of flexibility with respect to ihc details of the development of the Project and with respect tc those items covered in general terms under this Agreement. If and when the parties find tb. 11. changes or a. djust1ncnts are necessary or appropriate, th~ y _ sh~ U, un_ le~ 1s . othcrwis_ c rcquir::-: d bx aw, effectuate such changes or adjustments through administrative amcndmcr.: .. ., fDvnd by C'. ity Diredor of Planning and Deve! opment, which, aJter cxc. cution, shall be attachi: xl h:.: r~o a:i an addenda and become a pa. rt hereof, and may be further cha. nged and amended from time 10 time as necessary, with approval by City and Property Owner. Any such administrative change~ or amendments shall not be deemed to be an amen- dment to this Agreement under Government Code Section 65868, and unless otherwise required by law, no such : ulministmtivc amcndrnenis shall require prior notice or hearing. Notwithstanding the foregoing, the following matters shall RV. 2!.6\CORIPBVP. l..01'1.AOM

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 875 of 953 Je considered administrative changes or amendments, but sha. lJ be considcnx! substantJvc amendments which shall be reviewed by tile: Planning Commission ar.d approved by City Council;
a) Alteration of thC', pennirtcd uses of the Real Property; h) rncre: 1se in the densi: y or intensity of use;
c) Incrc-'. l.se in : h-2 maximt~ m hdgllt and size in permitted buildinis; d) r.re; ction of a rr:-.. quirnment for the rescrv, 1tion or dedication of J.and for public purposes except for minor boundary adjustments approved by City Director of Planning md Development and
c) Any amendment or cl1? JJgc fCQ! lirin, g a subsequent or supp! emcnt. 11 envi. mnmcntal impact report purs1rnnt to California Public Resources Code Section

19. A!.! Q... fDfil' tl.~ 053ruL~. S. ts .. If )(~gal action by either party is brought bec-,; msc of br' t•.;i.ch of this Agreement or to enforce a pmvision of I.his Agreement, the prevailing party is entitled to reasonable attorneys' fees a. nd court costs.

20. ]: J.Qt.i0.'i, All notices required or provided for under this Agreement shall be in writing and delivered in person or sent by certified mail, p,ostagc prq:,..,_;d, Not.ice required to be given to City shall be addressed as follows;
4\RU. 2!l6100!?\ DllVlll.- OM .AOU
City of Indio
P. O. llox 1788
Indio, CA 92202
Altn; City Clerk
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 876 of 953 Notices required to be given to Property Owner shall be addresse-, d as follows:

Pacific Indio Properties, Inc.
1875 Century Parl< East
Suite 1880
Los Angeles, California 90067
Attention: Mazen Habiby
A party may change the address by giving notice in writing to the other party and thereafter notices shall be addressed and trammittt~ d io the new address.

21. a) The singular includes the plural; the mascidinc gender indmlcs the::
feminine; " stw. l!" i.<: m.' l.rldatory, " may" is permissive. b) If a part of this Agreement is held to be invalid, ihe remainder of the Agreement is not affr:<: ted.
c) If there i,; more than one signer of this Agreement their obligations are joint and several.
d) The time limits set forth in this Agreement may be extended by mutual consent of the pattfos in accordance with th(, procedures for adoption of nn agreement.

22. ~ J.l.:.R.M~.. DIDJJJ1J11lliYJ~. a£ iJ. i.tiy13J2L~! OO;_ Qfilcr. As.. @. s.lll!;..! lt.l2! ll..t.ri.lliLE. ir0JJring If~n. llim. s.. Pursuant to Chapter 2.5 ( commencing with Section··. 53j12Y" i?itft"(· b-iV! S! Oil ___ : f,-· Tit. le 5 of the Government Code, commonly known as the " Mello- Roos Community Facility A,":~ of 1982", Property Owner may, at its sole elect. ion, petition City Council of City to establish a community faciliti~ s district including the Re. 1.l Property for the purpose of acquiring, constructing and financing through the sale of bonds the acquisition and constrnction of certain public facilities which arc necessary to meet increased demands placed on City c: s a result of the development of Property Owner' s Real Property. Alternatively, or in addition thereto, Property Owner may request r.hat City initiate and complete proceedings under the Municipal 4\R\AlS6\ 00J\ IDBVHLOP2 . AOM 16
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 877 of 953

1. mprovement Act of 1911, the Municipal Improvement Act of 1913, the Improvement Bond Act of 19J 5, the Landscaping and Lighting Act of 1972, or any and all other available financing mechanisms to provide public conduit financing for the construction of public improvements on me Real Property. If so requested by Property Owner, City shall cooperate with r'roperty Owner and use its best efforts in taking all steps n~asary to cause. the community facilities district or other entity to issue bonds for such purposes.

J!~ _,_f!. .. m.enL.,: 10.iD.!.J!i, City shall timely pmcess, in as expeditious : t manner as possible for precessing such matters. any necessary cntillement. s to use, including part.:e! map~;, vc~ s( ing tent. 1. tive tract maps, tentative tract maps, conditional use pennits, or other di:•; crct. ion:, xy approvais or entitlements to use contemplated by the Project, and any grading, corn.~rnction or vtJier permit.'> filN1 by Property Owner in accordance wi! h the substantive development standc. rrls set forth i!l !he Development !'! an. TI1e tcm1 of Tentative Tract No. 26585 as we!! : i.1.; ~ r,y oib:: r tent2tive map filed for the Rea! Property withi. n the t.cnns of t!1is Agreement s! Ja!! a.ulom21. iw. lly be extended for the term of this Agreement.

24. Rw.,,.Jll'Jllllilllil!LuW9..DJ'.fkfaU.QJ.kks .

21....l Me~. lnis Agreement shall not prevent City frvm applying new mks, regulations and policic::; relating to Uniform Cod(~ S such as the Unifom1 Baildi:! g Co, fo, Unifonn Electrical Code, Unifonn Mechanical Cfldc or Uniform Fire CJde, which: (<>.) rc.i:Hc to public s~ fety; ( b) are based on recommendations of a multi- state profession:::.\ org; miZ. s'\ tion; and ( c) become applicable throughout City,

21...2 . New L'lWS, In the event that state or federal laws or regulations. en<? ctcd after this Agrecmrnt is executed, prevent or preclude compliance with one ' Jr more of the provisi0ns of this Agreement, such provisions of thbi Agreement shall be modified or suspended as may be necessary to comply with such state or federal laws or rcgu! ation:- i; provided, 4\1!:V.2!.6\00! llDEVfil. OM. AOM 17

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 878 of 953 er, that this Agreement shall remain in full force and effect to t_he extent it is not inconsistent with such laws or regulations and to the extent such laws or regulations do not render such remainir. g pmvisions impractical to enforce.

Z.4..1 S1J~illlLA.Q.tJ0.ns...and.AJ:m.rnyaUi, In accordance with Government Code Section 65866, this Agreement shall not prevent City in subsequent actions applicable to the Real Property from applying new 1ules, regul;. tions and policies which do not conflict with those existing nilcs, :- egulz. tions :-! mi , , licics set forth in ( he Development Pl.an, nor shall thi~ Aµ: w:mcnt prevent City from denying or conditionally approving ;: my subsequent dcvelopmeni project application on the basis of such e; dsting: or new tuks, regulations or policies; provided that Property Owner' s • 1ested right to develop the Project pursuant to this Ag:fl'"..,emcnt is not impaired by e. ny such 3pplications or actions by City.

E&.G..o.rtlati..Q.Q. 111is Agreement and any , i.mendmcnt or cancellation hereto shall be recorded in the Office of Official Records of the County of Riverside, by City Clerk within the period required by Section 65868. 5 of the Government Code. 26 ~~- J:wjgro. Property 0-wner and City agree that this Agreement shall not prevent or limit Property Owner, in any manner, at PPJperty Owner' s sole discretion, from encumbering the Real Property or any po1tion thereof or any improvement thereon by any mo11gage, deed of !.rust or other security device securing financing with respect to the Real Property. City acknowledges that the lenders providing such financing Mortgagees") may require certain Agreement interpretations and modifi~ tions and agrees upon request, from tiiUe to time, to meet with Property Owner and representatives of such Mortgagees to negotiate in good faith any such request for interpretation or modification. City will not unreasonably withhold its consent to any such requested interpretation or modification provided such interpretation or modification is consistent with the intent and purposes of this Agreement. 4\ 1:: 1. Al« i\OOR\ DBVBLOl'" l .AOM 18

Page 26 of 100 ends

Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 879 of 953 vfortgagee of all or any portion of the Real Property shail be entitled to the foi! 0· ~ ing rights and privileges:
a) Neither entering into this Agreement nor a breach of this Agreement shall defeat, render invalid, diminish or impair the lien of any mortgage on au or any por- jon of the Rcai Property made in good faith and for w. h: e, unless otherwise required by law. b) Any Mortgagee of a mortgage or deed of trust encumbering ;, 11! or any portion of th~ Re-. aJ Pror rty which llas submitted ?, reqw:: st in ':'! ritJng to City in the m: inn~ r spe(: ificd herein for giving notices shall b~ ~ ntitlcd to receive wrlt1cn notificntion from City cf any default by i?r~pc: ty Owner in the performance of Property Owncr 1s obligations 1wiJer t! Jis Agreement.
c) ! f City timely fe<'~ i•;es a. request from a Mortgagee requesting a copy of ny : 1oticc of default given to Property Owner under the tcm1s of tllis Agreement, City '.; hc:. ll provide a copy cf tliat notice to the Mortgagee within ten ( 10) days of sending ! he notice of default to Propeity Owner. The Mortgagee shall have the right, but not the obligation, to cure the default during the remaining cure period allowed such party under this Agreement. d) A.ny Mortgagee who comes into possession of al! or any porlion of the Re. al Property, pursuant to foreclosure of the mortgage or deed of tmst, or deed in lieu of such foreclosure, shall take the Real Property, or part · thereof, subject to the tcm1s o! ~.,,., Agreement.

Notwithstandi. ng any other provision of this Agreement to the con! mry, no M01tgagc: e shall have an obiigation or duty under this Agreement to perfonn any of Property Owner' s o! J! ig, i,tionr, o'.· other affim1ativc covenants of Property Owner hereunder, or to guarantee such pcrfonn, mc-~; provided, however, that to the extent that any covenant to oe performed tJ:,; ~: y Owner is a condition precedent to ! he performance of a covenant by City, the performance thereof . sh1ll continut to be a condition precedent to City' s performance hrrcunder, and furthl.',. provided that o!\!J;V, ;1!,6\00lt\ DfiVRLOP' l.,\<JM 19

Page 27 of 100 ends

Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 880 of 953 my sale, transfer or assignment by any Mortgagee in possession shall be subject to the nrovi<: ions of this Agreement,

27. S.te.~.ahiJity of Teans. If any tern1, provision, covenant or condition of thi.s Agreement shall t)(! deicm1incd invalid, void or unenforceable, the remainder of this Agreement shall not be affected thereby 10 the extent such remaining provisions are not rendered impractical to enforce.

28. Sl!! lsffi!! t!J!.A.m~..;.;.Qlfil.ll1JQ.Au.1!1orjzinr• Staw. tg. ' T11is Agreement has been entered ntn in rr-H,rn,·r• n~rn f!w. pmvisions of !he Development Agreement Law ( California Government Code Sections 65864 - 65869. 5) in effo:: t as of the Agreement Date. Accordingly, to the extent the subsequent amendment to the Government Code would affcct the provisio: 1:; of this An-rr;-.ement, such amendment shall not be applirnble to the Agreement unless ncces:; ary for this Agreement to be enforceable or unless this Agreement is modified pursuant to the provisions set forth in the Agreemcrt and Government Code Section 65868 as in efTc,:: t Oil the Agreement Date.

29. ~ k. Property Owner and City agree that this Agreement shall not create ; Li encumbrance Oil rtny portion of the Real Property which is sold to an ultimate user of all 0r an" portion of the Real Property.

R\A1116100ll.\ 08VRLOJ> l.AOM 20

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 881 of 953 IN WITNESS WH '1EREOPtIS execuh• Agreement las been daytedbytheP artics on the d
written. ear first al~9-\(e
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City Attome,
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llitl.LD City Cieri< -
P 00D ' .

KACaliforniaCityofIn10, , d'
AOM4\ llY:U.OM. lt\Alt. 610($. 21
PROPERTY OW . NER·
Properties, Inc.! n
Pncific Indio ration ~
CaJifomL1 COl] lO
By:
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 882 of 953 ATIJ OF CALlFORNIA

COUNTY OF RIVERSIDE
On this&!!_ da.y of..~-' 199)" e kfore me, ~~.. if:..P/ _, a Notary Public in and for said · coUnty al}' 6 State, personally appeared t?1'4n" cir' 5 Jc /)f· .z, pcnona!ly knowntome (o~edfomeOQ ti:le baG. is-Gf~- e) to 't>e the person who executed thi:; instmment as Mayor nf the City of Jndio and acknowledged to me that ! he City of :ndio executed it
WITNESS myh. an- d andofficial .<:-e: 1!.

STATil OF CAUFORNJA
COUNT\' or R!Vl.'.llSlDE
Ou ml• .L''/._ day ttf "' i)e_cu,, d_~. l9'll. hdm-< "'"· J/, j_.L~;; l!,;;,;\.,, N<'ory Public In ><Id frN ;_;;;. rcoonly om! Sl:>. 1',, ~ y ~ - lbblby, !"-""°" ll~ 10 me ( or f"""""l !O me oo tho IJ& m d "' 1i~ ,:vldcoo<) "' !>< rt,,, - who e.x""1Jled 1hb .,.,,,,_ " Vl<c ~ of !':>rifle lndlo ~ le<. In<.. • CaH( orni> e<ttJ'O"'loo .. .,,. ""-~ ! U ""' ! It>< ,;, i,;l ~ ''"'' m,,d ii. r~---0-~~~t-;.?!i·~:~'-l
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 883 of 953

REAL PROPERTY DESCRIPTION
All : hat certain real property located in the City of Indio, County of Riverside, State of California, described as follows:

PARCEL 1:

LOT 3 OF '" Il{E COACHELLA L\ND AND Wt.TER COMPANY' S SUBDIVISION, OF A PORTION OF SECTION 15, TOWNS!! JP 5 SOlffil, RANGE 7 EAST, SAN BERNARDINO MER! DIAN." IN THE COACHPJ.. LA VALLEY STORM WATER DISTRICT, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA. AS PER MAP RECORDED IN MAP BOOK 6 PAGE 24 IN TI{E OF\ . CE OF THE COUNTY RECORDER OF SAID COUNTY; PARCEL 2:

LOT 4 OF " TiiE COACHELLA UND AND WATER COMPANY' S SUBDIVISION OF A PORTIOH OF SECTION 15, TOWNSHIP 5 SOlffii, RANGE 7 EAST, SAN BERNARDINO MER! DIAN," IN 11IB COACHELLA VALLEY STORM WATER DISTRICT, COUNTY OF RIVERSIDE. STATE OF CALIFORNIA, AS PER MAP RECORDED IN MAP BOOK 6 PAGE 24 IN nm OFFICE OF THE COUNTY RECORDER OF SAID COUNTY; EXCEPT TilAT PORTION DESCRIBED IN THE DEED TO TilE STATE OF CALIFORNIA RECORDED MARCH 24, 1969 AS INSTRUMENT NO 2800 OF OFFICIAL RECORDS; PARCEL 3:

J1l0SE PORTIONS OF LOTS 5 AND 6 OF THE "TilE COACHELLA LAND AND WATER OMPANY' S SUBDIVISION OF A PORTION OP SECTION 15, TOWNSHIP 5 SOUTI!, RANGE 7 EAST, SAN BERNARDINO MERIDIAN," IN Tim COACHELLA VALLEY

STORM WATER DISTRICT, COUNTY OP RIVERSIDE, STATE OF CAIJFORNIA, AS PER MAP RECORDED IN MAP BOOK 6 PAGE 24 IN nm OFFICE OF TIIE COUNTY RECORDER OF SAID COUNTY LYING NORTI! ERLY OF Tim NORTI, LINE OF TiiE L\ ND DESCRIBED IN Tim DEED TO THE STA TE OF CALJFORlY •• '. ECORD ED MARCH 14, 1969 AS INSTRUMENT NO. 28000 OF OFFICIAL RECORL' S; PARCEL 4:

Tim EAST 440, 00 FEET OF Tim NORTHWEST QUARTER OF 11IB NORTilEAST QUARTER OF SECTION 14, TOWNSHIP 5 SOUTIJ, RANGE 7 EAST, SAN BERNARDINO MERIDIAN, IN 11IB COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, ACCORDING TO nm OFFICIAL PLAT TI!E.REOF;
EXCEPT THE NORIB 30.00 FEET;
EXHIBIT " A") ( Page l of 3)
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 884 of 953 J LAND JS INCLUDED WJTIIlN 11IB AREA SHOWN ON A MAP FILED IN BOOK PAGE 34 OF RECORD OF SURVEYS, JN' l1{ E OFFICE OF 11{ E COUNTY RECORDER OF SAID COUNTY;
PARCEL 5:

TifAT PORTION OF THE NORTilEAST QUARTER OF IBE NORTIJEAST QUARTER OF S>oCTION 14, TOWNSHIP 5 SOUTil, . RANGE 7 EAST, SAN BERNARDINO MERIDIAN, IN ' 11-JP COUNTY OF RIVERSIDE, STATE OF CALIFORN1A, ACCORDING TO TI!E OFFICIAL PLAT IBEREOF, DESCR1BED AS FOLLOWS:

BEGINNING AT A POIN1 > N THE NORTil LINE OF 111E NORTIIEAST QUARTER OF SAID SEC110N, ! J20 FEET EAST OF IBE NORTIIWEST CORNER TIJEREOF, SAID POINT BEING THE NORTHEAST CORNER OF THAT CERTAIN f,\RCEL CONVEYED tu WNG BJ:. I_J\l.,H lRUJT / J~ D .' Ji\\' i.NGG n,\!' f".!~ DY : rinrn pprnRnRn OCTOBER 15, 1921 IN BOOK 553 PAGE 187 OF DEEDS, R1VERSJDE COUNTY RECORDS; nmNCE SOUTif, AWNG nm EAST LINE OF SAID LAND 1320 PEET, TO nm SOUTil LINE OF TilE NORIB HALF OF THE NORIBEAST QUARTER OF SAID SECTION; TIIBNCE EAST, ALONG SAID so1m1 LINE OP IBE NORTII HAI..F OF nm NORTilEAST UARTEQ OF SAID SECTION, 440 FEET, TO TIJE SOUTilWEST CORNER OP IBAT 1nA! N PARCEL CONVEYED TO BAILEY ROSS HY DEED RECORDED IN BOOK 272 Ai.ill 107 OF DEEDS, RIVERSIDE COUNTY RECORDS; TI!ENCE NORTil, ALONG TilE VEST LINE OP SAID LAND, 660 PEET, SAID POINT BEING nm SOUTilEAST CORNER OP IBAT CERTAIN LAND CONVEYED TO EVELYN L. GREEN BY DEED PlLED FOR RECORD APRIL 18, 1938 AS INSTRUMENT NO, 1577; 11lENCE WEST, ALONG 11lE SOUTil LINE OF SAID LAND, 330 FEET TO 11IE SOUTHWEST CORNE.".

TilEREOF; TIIENCE NOR11l , ON 11lE WEST LINE OF SAID LAND, 660 FT'.£'1', TO TIIB NOR11l LINE OP 11lE NORTIIEAST QUARTER. OF SAID SECTION; THENCE WEST, ALONG SAID NORTH LINE, I10 FEET TO TIIB POINT OP BEGINNING; EXCEPTING TIIERFl' ROM IBE NORU! 30 FEET;
PARCEL 6:

UlAT PORTION OF TI!E SOUTIJ ONll-IIALll OF '!11;.l NORTIIEAST QUARTER OF SECTION 14, TOWNSHIP 5 SOUTil, RANGE 7 EAST, SAN BERNARDINO MERIDIAN, IN TilE COUNTY OF RIVERSIDE, STATE OF CALIFORN1A, ACCORDING TO 11lE OFFICIAL PLAT TI!EREOF, LYING NOR11lERLy OF nm NORTH LINE OF 11lE LAND DESCRIBED IN TI-IE DEED TO TI-IE STATE OF CALIFORNIA, RECORDED MARCH 24, 1969 AS INSTRUMENT NO, 28002 OF OFFICIAL RECORDS;
EXCEPT TI!E NOR11l 99,QO FEET OP TI!E WEST 880, 00 FEET.

EX.! IlBIT " A") ( Page 2 of 3)
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 885 of 953 rARCEL 7:

A
J/ J1dif!! JJ;$/! i;'?;"''-'"'lWK"·'·'·""·"''~'"""""'"'''•"'• C"'"'''°' PARCEL 2 OF PARCEL MAPS AS PER MAP RECORDED IN BOOK 1 PAGE 58 OF PARCEL MAPS, IN TilE OFFICE OF TilE COUNTY RECORDER OP RIVERSIDE COUNTY;
PARCEL 8:

PARCELS 3 AND 4 OF PARCEL MAPS, AS PER MAP RECORDED IN BOOK 1, PAGE 58 OF PARCEL MAPS, IN TilE OFFICE OF THE COUNTY RECORDER OF RIVERSIDE COUNTY, EXCEPT TilAT PORTION AS CONDEMNED TO 11ffi STATE OF CAUFORNIA BY FINAL ORDER OF CONDEMNATION AS RECORDED JANUARY 8, 1970 AS INSTRUME' IT I ). 1905, OFF! CrAL RECORDS;
PARCEL 9:

PARCEL I OF PARCEL MAPS AS PER MAP RECORDED IN BOOK 2, PAGE 21 OP

PARCEL MAPS, JN THE OFHCE OF THE COUNTY RECORDER OF RIVERSIDE COUNTY.

EXHIBIT " A") ( Page 3 of 3)
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 886 of 953

MAP OF ZONING DESIGNATIONS
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 887 of 953 EXHIBIT " C")
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 888 of 953 REIMBURSF. MENT AGREEMENT FOR CONSTRUCTION

OF PUBUC IMPROVEMENTS
TI- IJS AGR. f'.:!EMENT ( HAgrecment") is made this·---·- d.: iy of ______ , 19~ by and between City oflndio, a municipal corporation ( lhc " City"), and Pacific Indio Properties, Inc., a California corporation ( herei· · dtcr referred!~> as " Developer").

JWA:; ITALS
A. Developer owns approximately 241 acres of real property located within City ( the Developer' s Property"), more particularly described on Exhitit " l" attached hereto and incorpor,. • herein by rcfcn: ncc.

B. City has adopted the Indio Municipal Code ( the " Code") establishing various development impact foes to offset the cost of development of City infrastrncturc, C. As a condition to the ; ipproval of a development agreement bctwttrl Developer and City ( the " DA"), City has required Developer to design, construct and instaU certain public facilities to serve Developer' s Property and other properties ( the " Xmprovements"). · n1c Improvements are identified in the Conditions of Approval for Tentative Tract Map No. 26,il:$:'.l adopted as part of the Project ( as such tenn is defined in the DA) and the Project' s Mitigation Monitoring Checklist.

D. The DA provides that engineering benefit wne studies ( collectively the " EBZ Sludyff) will be done by Citv at Developer' s cost to determine '» hich of the Improvements benefit property in addition to De~ 1elopcr' s Property ( the ~ nenefitting Properties~). City agnY.! s BXHlllIT " D") (
Page I of I0)
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 889 of 953 u reimburse Developer for the pro rata share of the costs of those Improvements that : t!so benefit other properties ( coilectively the " Faciliticsn). The amount of the reimbursement will be dctem1incd by the EBZ Study and will be made from funds collectc< l by City from the owners or developers of rhe Bencfitting Properties,
E. X) eve! oper ls willing to advance the costs of designing, constructing, installing and inspecting th<" Reimburs. 1b! e Facilities subject to n:: imbursement from the Ben::: itting Propertie: ..

TERMS
A. . I&-5.WJill.~ LCQ. n,•il.JJlCtion of Im. 9IQvcmcnt;; i. Pon:: uant to the provisions of the DA, including the timing set forth thexin, Developer shall be responsitJle for designing, constructing, install in:, ,'! rid providing for the inspection of the lmprovements. TI1e pl. ans and specifications for the work shall be approved by City prior to construction, and the d~ sign, construction and installation of the Jmprovemcr. ts ~ hall be to the satisfaction of City in its soil~ and re.: 1.!; onably exersised discretion.

B. SD.!!-~_i!nd Metb.Qg_~1.w.!llim!;__Maximum Rcimbu!"" femer1. l. City shall reimburse Developer for the costs, including an amount attributable to interest computed at t'~e then existing Bank of America' s Reference Rate upon t~ie outstanding costs incurnxl, as~ dated with the dc:; ign, construction, installation and inspect. ion of the Fadl! ties, in an amount dctennined by the EBZ Study: ( a) from tl1w~ available development impact fees collected pursvant to ! he Code from subsequent developers of Benefitting Properties; ( b) from the proceeds of any community facilities district or assessment distrir. t fom1ed, in part, to pay the same; or ( c) from other fees that City may impose upon any developers of the Benefitting Properties ( the nRcimbursement Fllnds"). Ci: y shall exercise its EXHIBIT " D") ( Page 2 of 10)
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 890 of 953 vlice power to the maximum lawful extent to collect fees for the pro rata share of the costs for the Reimbursable Improvements as detennined by the EBZ Study, including enactmen: of new ordinances if nccess1. ry. Reimbursement shall be from the Reimbursement Funds ; ind from no other source.

2. The total amount of the reimbursement obligation over the life of this Agreement shall be as determined in the f'::BZ Study.

3. City .. ,iall disburse reimbursements due to Developer under this Agrecme1lt c(' ini- c'\ nn11:; llv from the Reimbur.--£ ment Funds collr, cted from developers of Benefitting Properties as provided i!1 this Agreement. The ftrst reimbursement shall occur no later than 6 months following City' s formal acceptance of the lmprovements.

C. TornLQf.. R__Jllillb~ iggJ.!. Qn. City' s obligation under this Agreement, to reimburse Developer for the Facilities shat! contimie for a period of thirty ( 30) years from the date of the DA, unless the obligation is sooner satisfied by payment in full of all reimbursable amounts due and owing to Developer under this Agreement. After such tJ1irty- ycar period or pay. nent in full, whichever occurs first, the reimbursement process shall ce, 1.SC.

D. lli.d.LJ! lliL... CQntrnct! l.. Developer shall b_ e sol_ e_ ly __ re. sponsible for sec_ uring appropriate bids and awarding the contract for construction and installation of the Improvements in compliance with all applicable federal and state Jaws. Developer shall dGfend, i:'!demnify , ind hold City, its elected officials, officers, agents ; rnd employees free and harmless from any and all claims, actions or liability whatsoever, including attorney' s fees and court rosts, arising out of or in conne<..' tion with Developer' .' I construction of the Improvements.

B. lnmection. City shall hnve th~ right at all time.~ to inspect the construction of the Improvements to measure compliance with City plans and sr, e, clfications.

EXHIBIT " D") ( Page 3 of I0)
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 891 of 953 F. lmlemnificatiQU; Ins!: fance,
l. Developer shall defend, indemnify and hold City, its elected officials, officers, employees and agents free z.nd ham1less from any and all liability from loss, damagt"., or injury to or death of persons or property in any manner arising out of or incident to Developer' s peifonnancc of this Agreement, including without limitation all consequential damages, attorney' s fees and court costs, resulting from the negligence. of Developer or Developer' s agents. 1l1is imk : mity shall extend to any claims arising because Developer has foi] r>d tn r1- nrx~- rlv secure any nccessar:/ casements, land rights, contracts, or approvals, but shall nor extend to any claims arising out cf the negligence of City,

2. Developer shall require all persons doing work on the Improvements, incl:. tdi: 1g their contractors and subcontrw:: tors, to obtain and maintain insurance of tbe types and in th1~ amounts described below in a fonn and with c; uTiers satisfactory to City, a. Olmnl~. rcia. L~ raLUahll.~~. Occurrence vc:- sion
commercial general liability insurance or equivalent fonn with a limit of not less than 1,000,000.00 each occurrence shall be maintained. If such insurance contains ;. general aggregate limit, it shall apply separately to thi.<: Agreement or be no k5S than two times the occurrence limit. Such insurance shall:
i. Name City, its electl', d officials, officers, empkiyees and agents as insureds with respect to pcrfonnancc of this Agreement. The coverage shall contain no special limitation~ on the scope of its protection afforded to the above- listed insureds. ii. Be primary with respect to any insurance or self insuranet programs covering City, its elected officials, officers, employees and agents. iii. Contain sU\. ndard separation of insureds provisions.

BXJllBIT " D") ( Page 4 of 10)
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 892 of 953 b. B.usioess A11tomob. ik; Liability Insuran<&- Business automobile liability insurance or equivalent fonn with a limit of not less than $ 500, 000. 00 each accident shall be maintained. Such insurance shall include coverage for owne.d, hired and non-owned automobiles.
c. Ylw: kc! L ... ... C0.1ll!N.Dili1li. lliL1. P.1!!.! Jllli:~- Workers' compensation insurance with stal1: Wry limits and employers' li3.bility insurance with limits of not less than 1, 000, 000. 00 e-'. lch accidc . shall be maintiine< l. d.

Ql/ J.. crJUfil~.... R..GQ.!) jITJJJ. Y11ll• Developer shall:
i. Prior to taking any actions under this Agreement, furnish City with properly executed certificates of insurance which shall dearly evidence all insurance quired in this Sc:: tior. and provide that such insurance shall not be canceled, allowed to expire or bt.: materially rcducij'/ in c,overage except on forty- five ( 45) days' prior written notice to City. ii. Provide to City certified copies of endorsements, and policies if requested Oy City, and properly exe. cuted certificates of insurance evidencing the insurance req: • ired herein.
iii. Replace or require the replacement of certificates, policies nd endorsements for any insurance reriuired herein expiring prior to completion and acceptance of the Improvements.
iv. Require to be mruntained all :nsurancc required herein from the time of execution of this Agreement until the acceptance of the Improvements. v. Require the placement ofall insur: ince required herein with insurers licensed to do b~ 3iness in California.

EXHIBIT " D") (

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 893 of 953 G. ~) fConstruction a.nd lnSDf& lion. Developer and its contractors and subcontractors shall not commence construction of any Improvements until Developer has received written authorization from City lo proceed. All work perfonmxl on the Improv0mcnts shall be done in . c-.ubstantial compliance with City- approved plans, specifications and contract documents and in a good and workmanlike manner. A!! work perfonned by Devc! o;x:r. its contractors and subcontractors to construct the Improvements shall be subject t0 inspection by City, and Developer ., hall 1-equire its employees, contractors and agents to comply with ri.ll mst1111... tiUib giv,.: n t:r r·,:1••: , 111riflf' constniction of the Improvements. All fees and costs to constrnct the Improvements 5hall be bontc solely by Developer, subject to reimbursement as provided herein. Inspection by City or its employees or agents shalJ not relieve Developer of liabilit_ v, if any, for design defects or improper or inadequate workmanship.

H. Compliance v<lth....A.m2illd1. bJ~L.Lal1!~~. Developer shall require that all work performed on the Improvements is perfonned in a manner which complies with all applicable federal, st.:.te, county and local govemme11t laws, regulations and rules, including all rule$ and regulations of City, as these rnies and regulations may be modified or changed from time to time,
I. ~ g_~. Developer is aware of the requirements of Califomia Labor Code Sections 1770 ct ~., which would require the p:1yment of prevailing waec rates and the perfonn: l:ice of other requirements if it wr;-; re determined that Developer' s contracts with its coutractor( s) to constmct the Improvements were a public works contract ;;. s defined in Sections 1720 and 1720.2 vf"the California Labor Code. The parties hereto agree, however, that: (;) to the maximum extent pcnnitte< l by law, Developer' s contracts with its subcontractors shaH not be di>emed ttpub\ic works contmctsn as defined in the Cdifomi~. Labor Code; and ( ii) none of EXH! Bl'!' " D'') ( Page 6 of I0)
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 894 of 953 t/ JC panies hereto sr. aH take a position inconsistent witb the fo( egoing treatment of Developer' s contracts. Developer ag1ecs to hold City and its elected officials, officers, employees and agents hannless from any claim or liability including, without ! imitation, attorneys' fees and court costs, arising from r1ny failure or alleged failure to comply with thes. e provision,-; of the California L.. a! Jor Code.

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9JltffiC1Q. LJJs: t11::~. All work perfonncd on the Improvc! mcnt.~ shall b!~ donec only by contnctors JicenS(', d in th.: State of California and qualific: d to perform the type of work requi!\ YJ.

K. h, i;;;~. mK Upon completion of the Improvements lo the satisfaction of City, the ! mprovements shall be presented to the Indio City Council for dedication and 11 cceptnnce, and for authorization to file a Notice of Completion. City Council may accept the Improvements if it determines that the Improvements were constructed in accordance with the approved plans, specific. ations and contract documents, that they operate satisfactorily, and 1/rn.t all other requirements of this Agreement have been satisfied. Upon acceptance of the improvements, Developer shall assign to City all of Developer' s rights and remedies, including warranties, ;, s set forth in the approved contract documents, and thereafter City shall have the same recourse under said contract documents that City would have had if City itsdf had engaged De•. 1elopr; r's contractor to construct the Improvements.

L. Lia1illitY for Work PrioL1Q.. t.QilllaL. b&{ 1W. Hill~• Until City Council ha. s formally accepted the Improvements, Developer shall be solely resr> ensibie for all ciamage to the work caused by or arising out of Developer' s or its contractor' s or subcontractor' s negiigence and for all damages or injuries i::, any peroon or property at the work site caused by or arising out of EXHIBIT " D") (

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 895 of 953 I"'''" or its contractor' s or subcontractor' s negligence, exec- pt damage or injury due to tile negUgcnce of City, its agents or (~mployccs.

M,
Guarnnll½<· Developer shall require its contractor( s) to provide one or more bonds, in form and content acceptzble to City, to guarantee ail work and materials fer the Improvements to \ Jc free from all defects doe to faulty materials or workmanship for a period of one ( 1) year after the date of fom1; il acceptance of the work by City.

N. ) 3g-£ Qcl.. J2. n1. Y{.)_ QJ;. S- Prior to acccpt: tnce of the lmprovcr-: 1cnts by City Council, Developer shall provide City w ,th three ( 3) copies of record drawings with certification by a licensed crlgwt; t.:> i11 liH.: ~ 111,.. nf f'a! ifomia as to accuracy and complctcncss. Developer'~; contractor( s) shall be solely responsible and liable for insuring the completeness ar. d accuracy of the record drawings.

Qw..nfrsbjJLQ. fJb.u.mJ2fC.. lY.~JD~· From and after acceptanc. e of the : ••• ;n-ovements 0 y rormal action of City Council. owner. ship of the Improvements shall he vested e,clusivtly in City.

P. 8wroval of ImproveJPenI ~- Upon (.',. omplct. ion and final acceptance of the Improvements by formal action of City Council, Developer shall, within thirty ( 30) days, provide City with an itemi,"' 1 bill showing all reasonable costs, includin~ an amount attributable to interest at the Bank of Ar.-: crica' s Reference Rate, incurred by Developer to design, constmct and install the Improvements. Such reasonable costs shall be limited to ccs'. S t.'l ~ iring necessary land and easements not currently owned by Developer, pennit fees, and costs directly and necessarily related to the design, construction and insta. Ilalioo oi the Improvements.

Developer agrees to provide City with bills evidencing costs incurred. Developer also agrees to provide City with any : ulditional information as to any items shown on the cost bill as

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 896 of 953 tt% fl- lcstod by City to substantiate the costs. Poilowing completion of its analysis, City shall advise Developer, in writing, of any fees or costs shown on the cost bill which City will disallow and the reasons why these items arc being disallowed by City, Only those costs approved by City, in its reasonably cxcr-:: ised discretion, wil! be allowed for reimbursement in accordance with this Agreement.

Q. Nillk!<, Any notices requi· , J or desired to be sent pursuant to this A; r,reemcnt shall be addressed as follows:

City of Indio
P. 0. Box 1778
Indio, Califomi2 0?,202
Attn; ·:, v Mnnagcr
Pacific Indio Properties, Inc.
1875 Century Park East, Suite 1880
Los Angeles, California 90067
Attn: Mazen Habiby
R. tJmntlmM!- This Reimbursement Agreement may be amended by the parties hereto . . Snch ame. ndment or amendments sha! l not require an amendment to the DA.

S. ~_'..: LfttS, In the event any action is commenced to enforce or interpret any tenn or condition of this Agreement, in addition ta costs and any other relief, the prevailing party shall be entitled to reasonable altomey· s foes.

T. ~. ' This .\ grecment contains the entire agreement of the parties hereto with respect to the matters contained herein.

U.
bssigmnent. T11is Agreement shall not he assigw~ d witho~ 1t the written consent of the pz. rties hercto, and any assignment without such written consent shall be void and ineffective.
v. I.iJ: ne~. Time is of the essence of this Agreemc-. nt.

EXHIBIT " D") (

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 897 of 953 ATfEST:

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City ' Clerk
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Pacific Indio Properties, Inc.,
a California corporation
By:

Developer"

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 898 of 953 Developer' s Property
All that certain reaJ property located in the City of Indio, County of Riverside, St.ate of California, descrilx-, d as follows:

PARCEL I:

WT 3 OF " TT! E COACHELLA LAND AND WATER COMPANY' S SUBDIV! SION, OF A PORTION OF SEC' I10N 15, TOWNSHIP j sourn, RANGE 7 EAST, SAN . BERNARDINO MERIDIAN," IN TT!E COACHELLA VALLEY STORM WATF. R DISTIUCT, COUNTY OF RIVERSIDE, STATE F CAIJFORNIA, AS PER MAP RECORDED IN MAP BOOK 6 PAGB 24 IN TIJE OFFJCE OF ' D1E COUNTY RECORDER OF SAID COUNTY; PARCEL l:

WT 4 OF " THE COACHELLA LAND AND WATER COMPANY' S SUBDIVISION OF A PORTION OF SECTION 15, TOWNSHIP 5 sourn, RANGE 7 EAST, SAN BERNARDINO MERIDIAN," ! NTHE COACHELLA VALLEY STORM WATER DISTRICT, COUNTY OF RIVERSIDE, STATE OF C/.JJFORNIA, AS PER MAP RECORDED IN MAP BOOK 6 PAGE 24 IN 11!11 OFFICE OF 'ffill COUNTY RECORDER OF SAID COUNTY; EXCEPT THAT PORTION DESCRIBED IN THE DEED TO THE STA TE OP CAJ. JFORNIA RECORDED MARCH 24, I969 AS INSTRUMENT NO 2800 OF OFFICIAL RECORDS; PARCEL 3:

HOSE POR' I10NS OF LOTS 5 AND 6 OF THE " THE COACHELLA LAND AND WATim COMPANY' S SUBDIVISION OF A PORTION OF SECTION 15, TOWNSHlP 5 SOUTH, RANGE 7 EAST, SAN BERNARDINO MBruDIAN," IN THE COACHELLA VALLEY

STORM WATER DISTIUCT, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS PER MAP RECORDED IN MAP BOOK 6 PAGE 24 IN THE OFFICE OF TIIB COUN1Y RECORDER OF SAID COUNTi LYING NORTIIBRLY OF THE NORTI! LINE OF THE LAND DESCRIBED IN THE DEED TO TIIE STATE OF CALIFORN .. ', ,< l'-,,CORDED MARCH 24, 1969 AS INSTRUMENT NO, 28000 OF OFF! OAL RECORDS; PARCEL 4:

THJl EAST 440,00 FEET OF THE NORTHWEST QUART"... R OF TilE NORTHEAST QUARTER OF SECTION 14, TOWNSHIP 5 SOUTH, RANGE 7 EAST, SAN BERNARDINO MERIDIAN, IN THJl COUNTY OF RIVERSIDE, STATE OP CALIFORNIA, ACCORDING TO TIIE OFFICIAL PLAT THEREOF;
EXCEPT TIJE NORTII 30.00 PEET;
EXl' llBIT " I") ( Page I of 3)
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I

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 899 of 953 AJV LAND IS INCLUDF, D WITHIN TI!B AREA SHOWN ON A MAP FILED IN BOOK 5, PAGB 34 OF RECORD OF SURVEYS, IN TI!E OFFICE OF THE COUNTY RECORDER OF SAID COUNTY;
PARCEL 5:

TI{ AT PORTION OF nrn NORTI! EAST QUARTER OF TIIE NORTI! EAST QUARTER OF SECTION 14, TOWNS! IlP 5 SOUTH, RANGE 7 EAST, SAN BERNARDINO MERIDIAN, IN TI!E COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL PLAT TilEREOF, DESCRIBED AS FOLLOWS:

BEGINNING AT A POINT ON THE NOR, H UNE OF THE NORTHEAST QUARTER OF SAID SECTION, 1320 FEET EAST OF T1{ E NORTHWEST CORNER 11-IEREOF, SAID POINT ~ E.!NU IHB NuR11! G\f;T ('() JlNFR nr TIIAT CERTAJN PARCEL CONVEYED TO LONG BEACH TRUST AND SAVlNGS BANK BY DEED RHCU! WBD OCTODDl1 1,, 1921 IN BOOK 553 PAGE 187 OF DEEDS, RIVERSIDE COUNTY RECORDS; THENCE SOtIT! l, ALONG nm EAST LlNE OP SAID LAND 1320 FEET, TO TIIE SOtIT! l LINE OF TIU! NORTH HALF OF THE NOR111EAST QUARTER OP SAID SECTION; THENCE EAST ALONG SAID SOt! TH LlNE OF TI-IE NORTil HALF OF nm NORTI- IEAST QUARTER(), " A.JD SECTION, 44- 0 FEET, TO THE SOUTilWEST CORNER OF TilAT CERTAIN PARC"'" CONVEYED TO BAILEY ROSS BY DEED RECORDED IN BOOK 272 PAGE 107 OF DEEDS, RIVERSIDE COUNTY RECORDS; TIUlNCE NORTH, ALONG TilE WEST LINE OF SAID LAND, 6«J FEET, SAID POINT BEING 11ill SOUTHEAST CORNER OF TilAT CERTAIN LAND CONVEYED TO EVELYN L. GREEN BY DEED FILED FOR RECORD APRIL 18, 1938 AS ! NSTRUMENT NO, 1577; THENCE WEST, ALONG THE SOUTil LINE OF SAID LAND, 330 FEET TO TIIE SOUTI! WEST CORNER 11! EREOF; TI! ENCE NORTil , ON nm WEST LINE OF SAID LAND, 6« J FEJIT, TO TIIE NORTII LINE OF TIIE NORTHEAST QUARTER OF SAID SECTION; THENCE WEST, ALONG SAID NORTil LINE, 1lO FEET TO nm POINT OF BEGINNING; EXCEPTING TI!EREFROM 111B NORTil 30 FEET;
PARCEL 6:

THAT PORTION OF 11- lE SOUTH ONE- HALF OF TIIE NORTHEAST QUARTER OF SE.CHON 14, TOWNSHIP 5 SOtIT! l, RANGE 7 EAST, SAN BERNARDINO MERIDIAN IN THE COUNTY OF RIVERSIDE, STATE OP CAJJFORNIA, ACCORDING TO TilE OFFICIAL PLAT TilEREOF, LY1NG NORTI- lERLY OP THE NORTH LlNll OF 11-! E LAND DESCRIBED IN nm DEED TO THE STAT!: OF CALIFORNIA, RECORDED MARCH 24, 1969 AS INSTRUMENT ~: 0. 28002 OP OFFICIAL RECORDS;
EXCEPT TIIE NORTII 99.00 PBBT OP TI!E WEST 880.00 FEET. l!XllJBIT " l ") ( Page 2 of 3)
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 900 of 953 pµtCfIL 7: pAJlCEL 2
OF PARCEL MAPS AS PER MAP RECORDED ! N BOOK IPAGE 58 OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF RIVERSIDE COUNTY; PARCF.

L
8: PARCELS 3
AND 4 OP PARCEL MAPS, AS PPJl MAP RECORDED IN BOOK I, PAGE 58 OP

PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF RIVERSIDE COUNTY, EXCEPT TIMT PORTIOI' AS CONDEMNED TO TI!E STATE OF CALlFORNIA BY FINAL ORDER OF CuNDEMNATION AS RECORDED JANUARY 8, 1970 AS INSTRUMENT NO. 1905, OFFICIAL RECORDS; PARCEL 9:

PARCEL I
OF PARCEL MAPS AS PER MAJ' RECORDED IN BOOK 2, PAGE 21 OF PARCF. L MAPS, IN THE OFFICE OP THE COUN'. IY RECORDL' R OP RIVERSIDE COUN1Y. llXHIBIT " I")

Page 3 ends

of 3) 41R\ AU61()(
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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 911 of 953 Lyman” 51’(=~r~,/2_‘:>

AMENDMENT TO DEVELOPMENT AGREEMENT
ThisAmendment to DevelopmentAgreement (the “Amendment”)is made as of this 3rdday of September, 1997 by and between Paci?c Indio Properties, Inc, a California corporation (“PropertyOwner”) and the City of Indio, a municipalcorporationorganized and existing under the laws of the State of California (the “City”).

RECITALS
A. On or about November 27, 1991, Property Owner and City entered into a written Development Agreement 13—3(the “DA”) with respect to approximately two hundred forty~one (241) acres of land described on Exhibit “A” to the DA (the ”Real Property”).

B On or about March 19, 1997, the Property Owner and the City entered into a Memorandumof Understanding(the “MOU’Uin order to: (a) facilitate the development of the Real Propertyand the sale of approximately ?fty-four (54) acres thereof (the “RV Showcase Property") to RV ShowcaseProductions, Inc., a Nevada corporation (“RV Showcase”);and (b) recognize the change in the development climate since the execution of the Agreement; C. The implementation of theMOUwillrequiremodi?cation to: (i)TentativeTract Map No. 26585 (“TIM—26585");(ii) the City’sGeneral Plan; (iii) the conditionsfor previously approved Changeonone90-10~524(“Zone ChangeNo. 9040624"); and (iv) the DA1 D, On or about June 18, 1997, the City Council of lndio adopted the following resolutions: (1) Resolution No. 6098, which approved General Plan Amendment 97—4—13 (“ResolutionNo. 6098"); (ii) ResolutionNo 6099, which approved modi?cation to certain of the 7\LDB\R0027\001\Docs\FirstAmd.DA3. 1

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 912 of 953 conditionsononeChangeNo. 90—10624(“ResolutionNo. 6099"); and (iii) ResolutionNo. 6100, whichapproved modi?cationsto certain of the conditions of TIM—26585(“Resolution No. 6100“).

B. By execution of this Amendment, Property Owner and City (collectively the “Parties”) desire to implement certain of the provisions of the MOU by amending the DA.

OPERATIVE PROVYSIONS
Now, therefore, the Parties agree as follows:
1‘ W.

Property Owner shallbearthecosts for any additions,updates, changes, amendments,special studiesor replacements to the Environmean Impact Report No, 901 (the “EIR”). The City shall includeProperty Owner in the preparationof the Request for Quali?cations,Scope of Services, and choiceof the Consultants to be awarded each contract. Each contract shall include a clause which limitsthe expenditures to a not-to~exceedamount agreed.in writing by Property Owner. The City shall have full edit control of the screencheckdraft of any changes to the EIR.

2. Extensionof Tenn of DA.

The term of the DA is hereby extendedfor an additionalfive (5) years. Accordingly,-theterm of the DA shall be for a periodoftwenty (20) years from the EffectiveDate (as suchterm is de?ned in the DA).
qa. Public Improvements. Facilities and Services.

Q The DA andZoneChangeN0. 90-15-524,are modi?ed by ResolutionNo. 6099and "HM-26585 as modi?ed byResolutionNo. 6100are hereby amended,as necessary and appropriate, to provide that the costs incurred by the Property Owner, or its successor in interest, to improve Avenue 42 shall be reimbursedby the City substantially in the manner provided hereinbelow. 7\LDB\R0027\001\DOCS\Fir$tAmd.DA3. 2

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 913 of 953 Q The off—siteimprovements on Avenue 42 adjacent to Phases 5, 4, 1, 2, 6 and 7 as shown on the Phasing Map attachedhereto as Exhibit “A” and incorporatedherein (the “Phasing Map”)shall commence on a date to be determined by the Property Owner in its sole and absolute discretion.
,1; The Property Owner shall, at such time as the same may, in the opinion of Property Owner, be requiredto facilitate development of the Real Property, improvethe south one—half(V2) of Avenue 42 between the western boundary of “Phase 7" and the easterlyboundary of “Phase 5" (the “Avenue 42 Improvement”)as depicted on the map attached as Exhibit “C” to the MOU and incorporated herein (the “Avenue 42 Map”).
3,4 In orderto facilitatethe Avenue 42 Improvement,the City agrees to: (a) set aside, in a manner mutually acceptable to City and Property Owner, an amount equal to twentye?ve percent (25%) of the “Project Sales Tax” (as de?ned below)for an initialperiod often (10) years afterthe date upon whichthe deed fromPropertyOwner to RV Showcase for the RV Showcase Property is recorded in the Of?cial Records of the Riverside County Recorder (collectively the “Available Project Sales Tax”); and (b) pay to Property Owner,from time to time, as and when agreedby the City and Property Owner, but in no event lessthan semi—annually,that amount which is equal toone hundredpercent (100%) ofthe AvailableProject Sales Tax, to reimburseProperty Owner for:(i) the actual cost incurredby PropertyOwner to complete the Avenue 42 Improvements; and (ii) interest accruedon amounts actuallyexpended by Property Owner for such Improvements from the date of each expenditure untilpaid at the rate of seven percent (7%)per annum, compounded monthly. As used herein, the term “ProjectSalesTax” shallmean salestax receivedby the City from businesses now or hereafter locatedon land within an area boundedby Jackson Street on the east, Avenue 42 7\LDB\R0027\00imocsmrsmmdb/u 3

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 914 of 953 on the north, the western border of Phase 7 on the west, and Interstate 10 on the south (“Sales Tax Area”).

Q In the event that, upon expiration of the ten (10) year period referred to above, Property Ownerhasnot then been fully reimbursed for such amounts plus accrued interest, the ten (10) year period shall be extended an additionalten (10) years and Property Owner shall continue to be reimbursedby the City until the earlier of: (a) the date upon which Property Owner has been fully reimbursed as provided herein; or (b) the expiration of such second ten (10) year period.

Property Owner’sright to reimbursementhereundershall, expireconcurrently with the expiration of such second ten (10) year period.

Q The Parties agree that the PropertyOwner shall not bear the costs for the installation of the of?site improvementson Jackson street and the necessary street transition (collectively the ”Jackson Street Improvements”),it being the intentionof the Parties that the costs of the Jackson Street Improvementsshallbe allocatedto otherspursuant to the City’sDevelopmentAgreement with RV Showcase or any other developer/user withrespect to the RV Showcase Property. _3._7_ The Parties agree that the fair—sharefee for the traf?c signals which are the subject to Condition 30MUM—26585shall be paid byRV Showcase or any other developer/userof theRV Showcase Property.

1.3 TheJackson Street Improvementsshall commence on the earlierof: (a)the date upon which the installationof the on-site improvementson the RV Showcase Property commences;or (b) the dateupon whichPropertyOwner,or itssuccessor—in—interest, commences signi?cant commercial developmenton the Real Property.
7\LDB\R0027\001“DocsWirstAmdD/B. 4

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 915 of 953

4. Notice.

All noticesunder the DA and this Amendmentshall be in writing and shall be delivered by personalserviceor by certi?ed or registered mail, postage prepaid, return receipt requested, of the parties. Any written notice to any of the Partiesrequired or permitted hereundershall be deemed to have been duly given on the date of service if served personally or if served by facsimile transmission(with confirmation of receipt), or seventy-two (72) hours after mailing, Rejection or refusalto accept or the inability to deliver becauseof changed addressof whichno notice was given as provided hereundershall be deemed to be receipt of the notice, demand,or request sent. Notices to the Parties shall be addressed as follows:

City:

With copiesto:

Property Owner:

With a copy to:

Each party shallprovide the other party with telephoneand written notice of any change of address as soon as practicable.
7\LDB\ROOZ7\OOl\Docs\FirstAmd.DA3.

Allyn Waggle, City Manager
City of Indio
100 Civic Center Mall
Indio, CA 92201
Law Of?ces of R. Zaiden Corporation
A Law Corporation
850 East ChapmanAvenue, Suite “C”
Orange, CA 92866
Paci?c Indio Properties,Inc.
c/o Mazen Habiby
18359Coast Line Drive
Malibu, CA 90265
Frank J. Delany, Esq.

Carney & Delany, LLP
3801 University Avenue, Suite 650
Riverside, CA 92501

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 916 of 953 S. Amendments.

This Amendmentmay be amended at any time but only by a written amendment signed by the Parties hereto.

6. interpretation
The provisions of this Amendmentshall not be construed in favor of or against either party but shall be construed as if both Parties prepared this Amendment.

7. - Effective Date.

This Amendment shall become effective as of the 3rd day of September, 1997.

8. Severability.

8._l Property Owner agrees to bear all risk of any challenge to the provisions of Sections

3.1 through 3.5 hereof (collectivelythe “FinancingProvisions”). If any one or more of the Financing Provisionsof this Amendment are prohibited, unenforceableor not authorized in any jurisdiction, or to any particular extent, or in any particular circumstances,or as to any particular person or entity, such provision shall be deemed unenforceableand stricken from the Amendment only as to such jurisdiction,such event , such circumstances,and/or such person or entity, without invalidatingthe remainingprovisions of this Amendmentor affecting the validity, enforceabilityor legality. of the remainderof this Amendment or affectingthe validity, enforceabilityor legality of the stricken or unenforceable provision in any other jurisdiction, other event, other circumstances,or as to any other person or entity. It is the intention of the parties that this Amendment and each provision herein shall constitute a binding and legally enforceableagreement, in the event: (a) a court of competent jurisdiction; or (b) the Attorney General of the State of California,the Fair Political Practices Commission of the State of California, or another State governmental agency with jurisdiction over the City, shall for any reason determine that one or more of the Financing 7\LDB\R0027\00 l\Docs\FirstAmd.D/\3. 6

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 917 of 953 Provisions or any otherprovisionof this Amendmentshallbe stricken or unenforceableas described above, then in that event, the parties agree to forthwith bargain in good faith for the purpose of reformingor other or otherwise amendingthe Amendment so as to obtain, for Property Owner, the bene?t of Property Owner’s bargainwith the City as evidenced by the FinancingProvisionsand the other provisions of this Amendment, it being understood that, absent such City support as set forth herein, Property Owner will not be able to develop the Real Property or to consummate the sale of the RV Showcase Property to RV Showcase.

Q» If the Financing Provisions of thisAmendment are challenged by any person or entity, Property Owner shall indemnify, hold harmless and defend the City against any such challenge with attorneys reasonably acceptable to the City. Property Owner’s duties under this Section 8. l are in addition to and not exclusive of those duties under Section 16of the DA. iii In the event of any dispute or disagreement between the parties hereto as to the validity, construction,or the enforceabilityof the FinancingProvisions or any otherprovisionof this Amendmentwhich cannot be resolved by the good faith bargaining as providedin Section 8.1above, and mindful of the high cost of litigation, not only in dollarsbut time and energy as well, the parties intend to and do hereby establisha quick, ?nal and binding out-of-couztdispute resolutionprocedure to be followedin the unlikelyevent any controversy shouldarise out of or concerning the provisions of this Amendment. Accordingly, the parties do hereby covenant and agree as follows:
(i) Any controversy, dispute, or claim of whatever nature arising out of, in connection with, or in relationto the interpretation,performance or breach of this Amendment, includingany claimbased on contract, tort, or statute, shall be settled, at the request of any party to this Amendment through a two~step disputeresolutionprocess administeredby Judicial Arbitration & MediationServices,Inc. (J.A_M.S.)involving?rst mediationbefore a retiredjudge or justice from 7\LDB\ROO27\OOI\Docs\FirstAmd.DA3, 7

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 918 of 953 the J.A.M.S. panel followed, if necessary, by ?nal and binding arbitration conducted at a location determinedby the arbitratorin San Bernardino,California administeredby and in accordance with the then existing Rules of Practice and Procedure of Judicial Arbitration& Mediation Services (J.A.M.S.), andjudgment upon any award rendered by the arbitrator(s)may be entered by any state or federal court having jurisdiction thereof.
(ii) The provisionsof CaliforniaCode of Civil ProceduresSection 1283.05 or its successor section(s)are incorporatedin and made a part of this Amendment. Depositionsmay be taken and discovery may be obtainedin any arbitrationunderthis Amendmentin accordance with such section(s).
(iii) The arbitratorshall determinewhich isthe prevailing party and shall include in the award that party’s reasonable attorney fees and costs. (iv) As soon as practicable after selectionof the arbitrator, the arbitrator or such arbitrator’s designated representative shall determinea reasonableestimate of anticipated fees and costs of the arbitrator,and render a statement to each party setting forth that party’s pro rata share of such fees and costs. Thereafter each party shall, within ten (10) days of receipt of such statement, depositsuch sum with the arbitrator. Failure of any party to make such a depositshall result in a forfeitureby the non—depositingparty of the right of prosecute or defend the claim which is the subject of the arbitration,but shall not otherwiseserve to abate,stay or suspend the arbitration proceedings.

M Theprovisionsof this Section 8.1 and 8.2 shall not limit,require the postponement of, or in any otherway preclude the exercise of any right or remediesotherwiseenjoyed by any party to this Amendment under the provisions hereof.
7\LDB\R0027\OOl\Docs\FirstAmd.D/\3. 8

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 919 of 953

9. Effectivenessof the DA Zone Change Noi 90-10-524and TTM—26585.

Except as set forth in thisAmendment, all of the provisionsof the DA, Zone Change No. 90~ 10—524,as amendedby ResolutionNo. 6099,andTTM~26585,as amended by Resolution No 6100, shall remain unchanged and in full force and effect.

CITY OF TNDIO PACIFIC INDIO PROPERTIES, INC,
AMunicipal Corporation A California Corpor ' n. Wm\WW By:

Mazen Habiby
Its: )MA 3g [3 Its: Vice President
“CITY” “PROI’ERTY OWNER”
ATT EST:
7U.DB\R0027\00l\DOCS\FirSlAmd,DA3. 9

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 920 of 953

PHASING MAP

FOR REAL PROPERTY
TENTATWE TRACT NC}.26585
Wig
PHASE'4' 4%:

EXHIBIT "A" TO AMENDMENTTO DEVELOPMENTAGREEMENT (Pagclofl)

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 921 of 953

ATTACHMENT D
Settlement and Mutual Release Agreement

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 922 of 953

SETTLEMENT AND MUTUAL RELEASE AGREEMENT
This Settlement and Mutual Release Agi'icemmt (the "Agreement“,l is made aztd entered mmas ot‘tliis day of July, 2007 by and bethccn (i) WN lNDlO LLC 2:50‘ 460 NORTH 1 MDRIVELLC bo1l1 (,1: riomia limited liability compamus,and “’EIN'l"ILAUB lINANClAL SERVlCES, l\‘(, a California corporation (in the aggregate: “\l‘cinmub”), (ii) the CITY OF lNDlO, :1 California Municipal Cummxion and the REDEVELOPMENT AGENCY OF THE CITY OF INDIO, a public body, corporate and politic of the Siatc of California (collectively, the "City"), and (iii) LEONARD H. LUNDIN, di’b/aLUNDB‘ JEVELOPME‘ '1‘COMPAN ; LMZ, INC, :1 ‘ ifumia corporation, and ALJACKS REYAILPAR' ‘ 8, LP, a California limited partnursliip (in 1lic aggregate, “Lundin”). Wuiiitmu'u, l, ndin 21ndCity arc liereinnller collectively referenced as club“Parties,“ and sometimes altci‘itativcly referenced as a “Party-3'

RECITALS
A. 011 or about Nm-cmbcr 17, 2006 W'intmub tiled that certain “\fliRlFl'Fl') Pl}:llllON lOR \VRll OI MA\DAT]:‘ A\D COMPL" ‘
violtitiun oi the California Environmental Quality Act (“CL lX“) Subdivision Map Act, and Calimmia Community Rcdttvclopnicnt 1:lsm, 211213 initiating Riverside County Superior Court case number
lingzition"). the Litigation alleges, among other tln
improptrly 011 November 1, 2006 2'11approving Real Party ‘ lutercst Lundin‘s various land use entitlements and an agrcamem with Lunrliii related in a proposal retail commcrcial development project to be located West of Jackson Street betwcm Interstate 10 and Avenue 42. This project previdcs for construction by Lundin or his successor in interest of a shopping tar approz- natuly three hundred and scvunty ?ve thousand (375:000) square far, n size, including but not limited to a 1 w" r department storm covering twenty-eight (28) acres (131C ”Showcase Project”):
’
r' 11nd Lumiin have. vigorously camestcrl Wraint1‘zurb’sall tuitionand cuntimic to do so.
(1 In addition to the CEQALitigation, on January )1: 2007, Wcintrarib initimad a second lawsuit against the City alleging City’s violation of 1211:Put. c Rcwrds Act, ?ling a second “\‘ElUFIBD PE'l'lTlON FOR WRIT OlT MANDATE ANT) (IIOMPLAINT . . .” in Riverside County Superior Court case number INC 0611159 ‘ “PKA Litigation"). In the aggregate, the CRQA litigation and the FHA _4tir)r1are referenced herein as the “Litigation”
all matters in dispute between them including txptrss 3, but without limitation, any actual or potential dispute arising from or related 11') tit-3 Litigation

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 923 of 953 Er
H.

Furthermore, the Parties have agreed to reach a comprehensive and conclusive settlement of all (if their differences with, grievances about and claims against each other, To that end, the Parties have agreed to execute this Agreement and thither agreed upon va?nus temis and conditions related to other litigation pending between Weintraub and Ltmdin (the “Weintranb/Lundin Dispute").

The Weintmnb/LnnclinDisputerelates to the following facts:
3 a portion of the Showcase Project site is subject to those certain Covenant; Conditions & Restrictions recorded in the.Official Records 01‘ Riverside County Recorder ns Instrument Nu 2002421122 on July '31, 2002 (the “C(It‘inRs");
b, Weintraub owns approximately 16‘) acres oflantl south oi‘Avenne 4?. on the east and west side of Monzoe Sheet, identi?ed by Riverside County Assessor’s Parcel Numbers 6i0-OZI)~ 7? 2, 6l(l~02tl«010»0, (”04320021— 0, 610-080-0294, 6l0~08()»032‘6, 6i0~080~tl31~5, also subject to the CC&RS (the “Vt-'einttnubSite"); and
e. Weintraub has assencd authority pursuant to the CCSLRSthat Litmlin contends has imp. ted Ltmdiu‘s development of the Showcase Project, and Lundin has challenged this exercise ofziuthority,
Weinlt'anh has stilnnilztztl an application to the C. j {Cit land use entitlements; supporting Ll retail commercial project on the Weintmu'b Site (the “Weintrzntb Project"). The portion of the Weintraub Project ll) be located on the west side of Monroe Street shall be referenced herein as the “Mannie West Project." 'lht:
ponion rifthe Wclntraul) Protestm be located on the east tide of Monroe Street shall be referenced herein as the “Monroe hast Project.“ The Wclntrzlul) Site and other real property owned by Weintmtib is subject to that cenain Development Agreement between the City of Indie and PM lniiio Properties, lne. recorded in the Of?cial Records of Riverside County Recorder as Instrument No. 047277 on February ll, 199.7,,as amended by that certain unrecorded Amencirnmxtto Development Agreement, dated September 3, 299‘? (“Development Agreement“), that expires twenty (20) years from the “El active Date," as that term is de?ned in the Development Agreement, On August 15, 2007‘ the City‘s City Council and the Board of its Redevelopment Agency voted unanimously to authorize and direct the City ; Innagtr ecutive Director and the City AttaimeyllAgency Counsel to take any and all appropriate and necessary actions to achim‘c the dismissal of the Litigation, concurrent with resolution of the Weinlrtiub-lLuttdinDispute in a manner that will insure the implementation of the Showcase Project.

SETTLEN ‘
'TA; 1) Ml
l’r’;V/I:dtri Li.(‘ (-5 a] r
‘Al.i{lj '\
('13! i}:

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 924 of 953 I. City’s Planning Commission agenda for Wednesday, August 8, 2007 includes consideration ofa land use entitlement related to the Weinn‘a‘ulal’t‘ojcct.

NOW, THEREFORE, for good and valuable consideration, including but not limited to the mutual promises herein contained, the receipt and adequacy of which are hereby acknowledged, each of the Parties.hereto agrees as follows:
1‘ MUTUAL GENERAL ‘uVAl‘VlZRANT) RFl ST.

Effective upon the ”Closing Date," as that term is de?ned in section 3i below, each of the Pnrties, on behalf of" itscli‘, and each of its respective members, ass :itites, predecessor's. Successors, assigns, parents, subsidiaries, alter egos, and af?liates, ii‘ any (and each of their respcelive present and femur of?cers, employees, independent contractors, directors, shareholders, partners, agents, attorneys, insurers, accountants, heirs, and successors and assigns, if (my) (collectively, “Related Entities and Representatives") herchv fully and forever waives and releases 2m}! and till rights, claims, suits, rights of administrative action or appeal, chose in action, and causes of action (it every nature whatsoever (“Actinntsjl”) that it has or may have aminrt any other Patty arising from, or related in any way to the» Litigation (collectively, the elettsed Claittts”). [inch of the Part on behalf of itself and each of its respective Related Entities and Representatives, hereby discharges ranchand all of the others from titty and all Released Claims. Each of the Patties, on hehalt‘ot‘itseli‘and each oi‘its respective Related Entities and Representatives, covenants not to threaten, bring, continent: * 'nitinte, institute, l'tlc, join, maintain, prosecute, support, (it threaten any 2\ctititt(s) base in whole or part upon any of the Released Claims, except as necassawto enforce this Agreement and the obligations set forth herein. Each of the ’tirties understands and agrees that this Agreement may be pled as it full and complete ttel‘ett and bar to, and may he used as the basis to dismiss with prejudice or enjoin, any Action(s’) hosed in whole or in part upon a Released Claim.

7., CALIFORNLA CIVIL CODE SEC'J'ION 1542.

Effective upon the "Closing Date," (is that term is de?ned in se tiott 3i below, 0.. the Parties hits “it“: and has otherwise been inibm'ted (tithe meaning of Section 15 - the C‘ziliitmtiaCivil Code, and has consulted with its respective counsel, to the extent that (my was desired, and understands the provisions of Section 1542, Each of the Parties hereby expressly waives the rights and bene?ts conferred upon it by the provisions of Section 1542 ot'tttc California Civil Code, which provides:

TLEtV
o LLC
NT \‘D ,V'fll’l
”In I
it in“.

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 925 of 953 “A generalrelease does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of execu‘ing the release, which if known by him or her must have materially affected his or h ‘set‘ Ementwith the debtor.”
(a
(
City Initials Weintraub Initials
141171875133 talsmw

3. CONSIDERATION.

Each of the Parties hereby provides its general waiver and release as re?ected in Sections I and 2 above as consideration to the others for entry into this Agreement. As additional considerationfor entry into this Agreement, the Parties agree to the following:
a.

CI
Constructionof OlilSite Improvements: The City agrees to timely construct, at its sole cost and expense, all of?site infrastructure improvements (“Improvements”) necessary to support the development of the Monroe East Project and the Monroe West Project. Such Improvements are speci?ed in EXHIBIT A. Further, a construetion/performance schedule as to City’s commencement and completion ofthc Improvements acceptable to the Parties is set forth in EXHIBIT B. Finally, the general location and nature of the Improvements are graphically reflected in EXHIBIT C Each of these three (3) exhibits is attached hereto and incorporatedherein by this reference.

Movie 'I‘heater. The City shall use best efforts to encourage the development and operationof a movie theater as part of the Monroe West Project.

Staff Recommendation as to Amendment to Development Agreement amt Flanning Commission Approval. Weintraub and the City agree that City staff will, within one hundred and eighty (180) days of the “Closing Date” as that term is defined below in Section 3i, recommend that the City Council approve an amendment to the Development Agreement extending by ten (IO) years its twenty (20) year tenn, only insofar as that term relates to the Development Agreemcnt’s provisions addressing allowable land use and density. Weintraub and the City further agree that City staff will recommend that the Planning Commission approve the land use entitlement underlying the Weintraul) Project at the public hearing currently scheduled to take place on Wednesday, August 8, 2007. The Parties understand and agree that this Agreement does not have the legal capacity to bind any City hearing body considering a discretionary approval related to the Weintranb Project in the future.

SETTLEM ENT AN D MUTUAL RELISASE AGRlil'iMENT
li/N India LLC 2/ al. v, City qflndio e! (11. ~ NC 063108 and INC 064159

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Page 73 of 100 ends

Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 926 of 953 1 ‘ City Initials
“A general release does not cxtcnd to claims which th: CICdIiUfdocs not knnw or suspect to exist in his or her favor 2n the time of executing thu minim-c.which if lmown by him or itcl' must have materiallyztffcutm'll '. or her settlement with the debtor."
Ltindm ann 2: CONS lDEXM'I'ION.
liach of “it: l’nnics hereby provides it.» genera! waiver and release as re?ected in Sections l and 2 abovr: as consideration to the others for entry into this Agreement. As additional cnnsidemtion for entry into this Agreement, the Panic
b.
rrcc sothe fisllowing:
(In) itc ln?vrovcrmmts: Tilt; City algrucs to timely construct, at its .sole cast and expense, all off-site infrastructure improvcmcnts (“Improvements") necessary to support (in: development of the Monroe East Project and the Menu»: West Project. Such Improvements are spur: led in EXHIBY'I‘ it. Further, a constructiorifpei'forrmncc schedule as; to Citv‘s commencement and completion of the improvements; acceptable to the Panties 13 set forth in EXHIBIT B. Finally. the. general location and nature of the l)71[)r0\/t'ntt:nts are graphically reflected in EXlilt‘ttT C. .acli ol‘thc ‘ tltl’cc [3) exhilaits is attached harem and incorporated lmrnin by this reference. w it: 'l’liuritcr. l‘ltc City shall use best efforts to cucmimnu the development and operation oin movie theater as part ofthc Monroe \‘vcst Puncct.

Staff Bgcomrggndntipn as to A?tmdmcnt tn Duvcltmmglt Asyccmcnt and Planning COIUT'US 512p}: Weintmul) and the City ngrcc that City stall" will, within one hundred and :3 guy (180) days oftlie “Closing Date" as that term is de?ned below in Section 3i, rccommcnd that the City Council approve an amendment to the Dcvclopmcnt Agrucmunt extending; by ten ( )0) years its twenty (20) yuar term, only insofar as that tcnn relates to the Dzvulnpmcnt .-'\3;rccmunt’s provisions addressing alltiwablc land use and density. Wcintrauli and the City further agree that City staff will recommend that the Planning Commission approvc thy~ land use entitlement underlying tin: Wcimrnnb Project at tlic public lican‘n Murrcntly scheduled to take plzrcc‘onWednesday, August 8. 2007. The Parties tmdurnmnd and agrcc thnt this Agrccmsm does not have the legal capacity to bind any City hisaring body considering :1 discretionary approval related in the Weintraub Project in the future.

Page 74 of 100 ends

Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 927 of 953 .. tutor; in consideration of the City‘s agreement to
construct the Improvements nd encourage the development of the movie theater pursuant to this Agreement, Weinttaub shall cause its counsel of record in the Litigation to immediately execute a Request for Dismissal of the CEQA Litigation, with prejudice, dismi "mg; that lawsuit in its entirety, with the exception of Count Four (4) thereof, undressed by Section 3.l<helow (It “Request for Dismissal”) upon the earlier of (1')?ve (5) business days after the (late that (A) the applicable Statute of limitations mm as to any potential CEQA—boscti challenge, by petition to a court of competent jurisdiction, to the City‘s approval, if any, of the Weintraub Project; or (B) the applicable appeal period expires as to any potential appeal to the Cit) Council of any City Planning Commit on approval ofthe Weinttanb Project (in either instance, a “Challenge? (ii) DVD (2,) business days After the (late that the applicable statute of limitations runs it the City notifies Weintt'ziub that it has not been servrxl with a summons and complaint, 2: notice of intent to File a summons and complaint, or a document commencing an appeal to the City Council as to a City Planning Commission approval ol’ the Weintraub Project, as to any Challenge: or (iii) one (1) business day after the date that a court of competent jurisdiction has entered a ?nal non appealnble judgment with tcspeet to that Challenge, Weinttaub shall ?le a fully executed copy of the Requu for Dismissal in " throw," as that term is defined below in Section 3.i, at or beiorc the close oilnr'n s on the “l" ectttiott Date" as that term is defined below in Section 1-1. I ept HS otherwise specifically set forth below in Section 3g of this Agreemeuh the Parties understand and agree that if a Challenge to the Weinlmttb Project is ?led by any person or entity, this Agreement and performance hereunder shall be suspended (an event described herein as a “Suspensimt”) pending cmtry of a ?nal non—nppeulz‘ihle judgment with respect to that Challenge In the event that a Challenge is ?led and 3 Suspension takes place. this Agreement shall remain in full force and effect by and between the Parties pending the entry by a court of competent jurisdiction of :1 ?nal nonappenlahle judgment with respect to that Challenge. Further, in the event that a Challenge in the form of an appeal to the City Council as to any City Planning Commission approval ol‘thc Weintraub Project takes place, and the patty or entity" initiating such appeal fails to llle a petition presenting its allonge to at court of competent jurisdiction within the time specified by the appl ble stzttn ‘ of limitatimis, the Suspension based upon that Challenge shall L‘Ol :lnile “V. business days after the (late that the applicable ‘tztlute of limitations runs.

Non--lint_‘_q_t't‘e_rnettt of Judgment in?PRALit ration. Weintrnuh shall not enforce or seek to enforce what it views as a default Judgment against the (City in lltc PRA litigation, Weintmub shail deposit in “Escrow,“ as thztt term is de?ned below in Section 3J1, on or before the “Execution Date" as that term is de?ned below in Section l4, it declaration uttdtrpcnztlty ofpetjuty consistent with this Section 3t— ll 1“» \‘l AND MU'I'UAL REL
WA"India Li.
.E Mill."
(IL v. City v/Imiiew m2v 063W? a

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 928 of 953 lL
ymm Aprnoglgithc Showcase Projcc ; Effective upon the Closing Date as that term is de?ned below in Section 1i, Wcintraub covenants to exercise its authority pursuant to the CC&R$ and cause the “Development Committee" of the “Master Association" existing under the CC&R5 to unconditionally approve the Showcase Project as approved by the City (the “Development Committee Approval"). At or before the close ofbttsinoss on “Execution Date" as thnt mm is de?ned below in Section 14, Weintraub covenants to deposit any and all documentsnecessary to site-(Imam the Development Committee Approval in “Escrow,” as that term is de?ned below in Section 3i Weinn'zmh further covenants that in the event that Lundin requires a modi?cation of the Showcase Project acceptable to the City (a “Showcase Modi?cation"), that, upon Lundin's request, it shall take any and all future action and execute any required documents necessary to insure that Lundin Secures the Development Committee‘s ands'or Master A ‘ociation‘s approval of ‘neh a Showcase Mt‘sclilicationwithin ?ve (5) business days of Weint‘rauh‘sreceipt of notice that the (3in has approved the same.

EVeintmLtlg?CumtntetiorLQgspireChalleim: lnmmvementsm Proceethitlt Sprintzinn Dismi an] & Devglgpmem C(mtmittec Approval Notwithstanding any Suspension or any other provision of this Agreement, in the event that Weinlrauh or its succes. r in interest elects to proceed, to any degree or extent, with either the Monroe 1 Project or the Monroe W '1 Project ( , tiles an Application for the issuance of a City permit) pending re zlution of ;4 Clnllenge, the following obligations shall spring into effect: (1) the 3' shall remain obligated to construct the Improvements as set forth in section 3n above; (ii) ‘1. row”, as that term is de?ned in Section 3i below, shrillfile, on \«l’cintrttuh’s behalfancl at Weintraub‘s cost: the Request for Dismissal with the Clerk of the Riverside County Superior Court; (iii) ifnot previously done, crow" as that term ts de?ned in Section 3i shall release to Aljitoks the “Development Committee Approval" and the approval ot’anv“Showcase Modi?cation" as those;- temts are de?ned in Section lfabove, cm of th_e_We' traub/Lu tin Dig A condition precedent to this neunent becoming effective by and between the Parties shall be the execution at a settlement agreement settling all claims and counterclaims arising from or related to the Weinti‘auh/lntndin Dispute”
l _Qt_v The Parties agree that all documents, beyond this Agreement ltseli' winch shall have been cchulCt’i on the F caution Date. necessary to effectuate this. Agreement (“Documents“) shall he executed by Lunrlin‘s and \N’einn-auh‘s only authorized representatives at or before the close. of business on lhe “Bxeetztion Date” n5 thnt term is defined below in Section 1-?and that City shall on the satin: on the Effective Date. All Documents executed by Lundin iuiil Weintrnnh shall be deposited in escrow at First American ’l‘itlc(ifompany, loot Ct] at 44801 Village Court, Suite B, Palm Desert:CA 07.260 (“Escrow”), at or before the close oi‘busin as on the “Execution Date" as that term is defined below in Section 24, All Documents executed by the (Luv shall be: deposited in Escrow ‘ ‘TTl ' ‘ AMY) MUl‘lJAL l’ W.\’Ind L1,!" 5/ . v. (Citynj’lirrli‘n('i‘ a} « I AGR
063 f0}? and 06‘1159
:ztgc 501' 26

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 929 of 953 ti.
within one (1) business day of the Effective Date, liscmw shall be icsponsiblc to implement this Agrccmcnt and may incorpomw same in “standard” instructions to he executed by all Parties within ten (l0) business days of the Effective Date Except with respect to documents filed with a court or utilized by Escrow in order to implement the Development Committee Approval or a Show ’XSCModi?cation as provided in Section 34;, if any, the close of Escrow (“Closing Date”) shall occur as follow .

M lgigL; (1’)On the date that is [we (5) business days
after the date that an applicable statute of limitations has run as to any Challenge to the City’s approval, it" any, of the Weintrauh Project, or(i1') two (2) business days after the date that an applicable statute of limitations has Rm if the City noti?es Weintmub that it has not been served with a
sun‘tmons and complaint, :1 notice of intent to ?le a summons and complainu or it document commencing, an appeal as to any Challenge; 0r
A.

B. Challg?g; 0n the date that is one (1) business day alter thc date that a court of competent jurisdiction has entered a ?nal non~anpealablejudgment with respect to that Challenge.

C. Challengg??tpgglkV C ut‘t /\‘ ' 1;. In the event that a patty or entity initiates l t in the form of em appeal
as to a City Planning, Commission approval of the ‘vVClJlln‘tUlJ Project but fails to ?le it petition in a cunt”: of compctcnt jurisdiction within the applicable show: of limitations art to the Challenge in qucstion, on the date that is ?vc (5) business days after the date that said statute of limitations has run :5 said Challenge,
Post (Slosin_g-_l')atc(Ihnllenge_t,o_MIME?“ 1339319111 tApgmv'tLQLlLeinty‘gh Project. in the event that a person or entity ?les a lawsuit in a court ofcompctcnt jurisdiction, to the extent that Such a lawsuit challenges a City limil use entitlement approval of the Weintt'aub Project and is tiled during the period commencing on the date after the Closing Date and concluding on the ninetieth (00“) day after the li-t‘fective Date (an “Entitlement Challcngu”), City shall ho responstble to reimburse Weintraub for the cost of legal sewices required to defend against that Entitlement Challenge, payable to an attorney ot"Wcituraulo‘s choosing but in an amount not to exceed the hourly rate that the City pays to ita logal counsel for the port‘omtanceofstich legal SBTVlCCH. l) wgfwgg‘u?twfl of CEt'lA ligation ‘Ql?tl ‘11;ny ln furthcr con idemtion of the City’s agreement to construct the Improvements and encourage the development of the movie theater pursuant to this Agrccmcnt, Weitttraub shall cause its counsel of record in tho Litinatiun - to immutliatuly M SD EMF
il’N India LLL
\l'r AND MUTUAL RELEASE AL EM» "
oat alt 'uu City oflmtm u! (1!. ~~ LN: MHz/A and /.\C 0.714;59

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 930 of 953

4. execute a Request for Dismissal of Count Your (4) of the FQA litigation on Weintraub’s behalf and at Weint‘raub’s cost of the (Ii; )A Litigation, with prejudice,dismissing that single count of the lawsuit (a “Request for Count Your Dismissal") upon the ninetyL?rst(91") day after the lit‘ftxztiveDate (the “Count four Dismissal Date”), Weintrauh shall ?le a fully ex ted copy of the Request for Count Four Dismissal in a second escrow with Escrow Holder Ztl or before the close ofbttsiness on the “Execution Date" 218that term is de?ned below in Section t4. Escrow shall be responsible to implement this Agreement as it relates to this Request for Count Your Dismissaland may incomoratethis Agreement) including this Section 3.k in “standard" instructions to be executed by all Parties within ten (10) business days of the Effective Date. Unless this Agreement is subject to n Suspension as of the Count Four Dismissal Date, Escrow Holder shall ?le the Request for Count Four Dismissal with the court ot‘cnmnetcntjurisdiction on that date.

W
lmmtav; Apart
from Veintmu ' . (ppmval that advance the public
health, safety and welfare, Lag. drainage, ?re, water, police, name,«1:2,. the City shall not condition its approval of the Weintmub Project‘s development. or other development on the Weinrraub Site (in the aggregate “Weintmub Developrncm“), upon conditions at" nppt'oval or mitigation measures nnt. reqtiimd in connection with City‘s approval of the Development Agreement. Nnt‘ shall the City require, witheut agreement by Weintmub or its successor in intercsh additional enviromriemal review pursuant to the requirements of ( )A for any proposed Weinrmuh l)eveloprncnt project that conforms with the use and density restrictions set forth in the Development Agreement. Nothing in this Section 3i m‘ elsewhere in this Agreement shall be relied upon or interpreted to relieve Weintraub of his obligation to comply with applicable State law (3.33.,the Subdivtsinn Map Act) or with the Code ot‘lndio (tag, the requirement for Di ' yr:

Review).

MUFUAI,. ACCEPTANCEOF RELFASES.
liueh individual Party nclzrinwletlges and accepts the.release ofench zmdall oi'the other Parties as provided nhove in Section 1 and .7.and the. consideration received, if any, as speci?ed abnvc in Section 3, in full compromixe, settlement, and sausfactiOn(if and as the sole consideration for the release given and the cmsidet‘ation provided by that individual Party.

IN ‘ltiiRA’l‘lON,MODIFICA’l'lON.

The Parties acknowledge that this Agreement is siivnetl and executed without reliance upon any actual or implied prom warranties Ul' representationsmade by any of the Parties or by any TCpl’C. native ol'atry ()ftlte Parties, other than those which are expressly contained within this Agreement.

SE'HIE MEli'l‘
it"h'lndr'oLLC orul 2’.
7) Mlll'UAl "i
:y oflmiz'ue!
IE\SEZAGREEMENT
NC 0113I 05' and INC 5‘64I59

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 931 of 953 h. This Agreement, including the true turd correct Recitals above, inclusive of all de?nitions contained therein, that are incorporated by reference herein as operative covenants and speci?cally relied upon by the Parties in executing this Agreement, constitutes the entire agreement and understanding arming and between the Parties,
This Agreement stincrsedesall prior and contenipmtmeous agreements, untlemtandings, terms, conditions, and representations, written or oral, with the sole exception of those reflected in the legal settlement of the Weinti'nttb/‘LtindinDispute, made by the Parties hereto or their attorneys, concerning the matters covered by this Agreement
ti. This Agreement cannot be modi?ed or changed except by written instrument signed by all ot'the Parties.

6. Sli’l'l'lJiMliN'l‘, NO ADMISSION RY PAR’I'IES
liaclt of the Parties acknowledges that this Agreement retailer to the avoidance of litigatitui and the preclusion of Actions based in whole or in part upon any Re ‘etl (Illaimt's). The Parties, therefore, agree that this Agreement is not in be treated or construed, at any time Dr in any manner whatsoever, as an admission by either Party that any of the allegations in the Litigation. or any actual or potential Relettted Claimts), has any merit.
‘7_ BINDING liFl‘ Cfl'i
To the maximum extent allnwetl by law and except as otherwise speci?ed herein, this Agreement inning to the benefit ofantt is binding upon the Panic; and all their respective predccctiom, :sigris bene?ciaries, employees, aft tintedentities, shareholders, of?cers and (lir partners, jnint venturers, dependents, spouses, respectivu representatives, agents, accountants, attorneys, insurance carriers, and successors. ti lil‘itsllONSlBllLl'l‘YFOR COSTS 'I‘ODA'l‘lrl.

The Parties agree that except its otherwise speci?ed in this Agreement, each eithem shall bear its; 0er cents and attorneys‘ fees, directly or indirectly relating In or arising from the Litigation and other matters covered by this Agreement. 94 lNDl‘Ll’ENDlBN’l‘ LEGAL Col .l'NSEL
ii h Pttny acknowledges that it has been represented by independent legal counsel of its own tthnice throughout all of the negotiations that preceded the execution of thin Agreement or hurt knowingly and voluntarily declined to consult legal counsel, and that each Party has executed this Agreement with the consent and (in the advice of such independent legal counsel,
SHIT! Emil"
We"!Int-[in LL
\l'i’ AND ML 'UAi, RF‘ EASE \(inliMl‘
:1 at. v City nj'lun’io cl (3: ‘IA' , -n."_’)8and MC {lb-H39

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 932 of 953 it). DRAWING.

This Agreement shall be deemed to have been negotiated and drafted by the Parties and their respective attorneys. No provision herein shall be interpreted or construed in favor of or against any Party on the ground that said Party or its attorney dialled that pmvision of the Agreement. Uncertainty and ambiguity in a provision herein shall not he interpreted against that provision‘s drafter.
t l. APPLICABLE LAW AND VENUE.
this Agreement shell be deemed to have been executed and delivered within the State of California; the rights and obligations of the Parties hereunder shall be governed, construed and enforced in accordance with the laws of the Sit-tic of California. The venue for any dispute arising from or related to this Agreement, its performance, and its interpretation shall be the Superior Court of California, County of Riverside, lndio Branch.
12 NO THIRD PA RTY lftE'MEFTCIARlES.

It is expmssly agreed that this Agreement is not for the bene?t of any person 9r entity not a Party hereto ur described (rs it Related Entity and Representative herein. This Agreement is not intended to constitute a third party bene?ciary contract. l3 . SliV ISRAB11.,I'l‘Y.

If any portion, pt‘ovisiun, or part of this Agreement is held:determined or adjudicated m be invalid, unenforceable, or void for (my reason whatsoever (an "Adverse l'lulding“), each such portion, provision or part shall he severed From the rerrraining portions, pmvisinns or parts of this Agreement, and shall not affect the validity or enforceability of any remaining portions, provisions or pins. Furthemtore, in the event of an Adverse Holding, the Parties shall meet and confer in good faith, and use best efforts to effectuate each of the purposes of this Agreement despite the Adverse Holding, including the. negotiution and execution of any additional documents that may be necessary, which documents may include, but shall not be limited to, an amendment to the terms of the Development Agreement.
11L EXECUTION DATE, EFFECTIVE DATE, COUNTERPARTS AND
ENFORCEMENT.

Execution of this Agreement may be via facsimile or eleetmnic menus. Weintraul) and l,nrn'.lir‘r shall execute this Agreement on (it beibrc August 6, 2007 (the “Execution Date“). Further, Weintrauh and Lundin snail provide is duly authorized and full)- executed copy of this Agreement to City at or before to: 0 am, on the Execution Dare, Furthermore, Weinttauh and Lundin shall execute It senlament agreement its to the Weintrarrb/Luntlin Dispute and provrde a true and correct copy of same to City on or before the clnse of business on the Execution Date. 'lhe City‘s titty Council rind ?ll'l‘LiAit. R57
a} r’mlr'or! at.
i’nge limit" lti
GR FMFV’"
1510631029 and 1ch 064”?

Page 80 of 100 ends

Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 933 of 953 Redevelapment Agency Board shall consider and vote upon the speci?c terms of this Agreement on August 15, 2007 (the "Effective Date” of this Agreement) City shall execute this Agreement immediately upon approval on the Effective Date. ’1"his Agreement may be executed in one or more countcmarts, each of which will be deemed an original. but all of which constitute one and the same instrument. This Agreement shall only become effective by and between the Parties on the Effective Date if approved by the City Council and the Redevelnpmunt Agency’s Board. The Parties hereby agree that, subsequent to the Effective Date, the Superior Conn speci?ed above in Section ll shall have and retain jurisdiction over the subject matter of this Agreement for purposes of its enforcement.

15. ATTORNEYS ‘ FEES.

In the event any Party hereto brings an action or proceeding for a declaration of the rights of the Parties, for injunctive relief, for :m alleged breach or default, or any other action arising from or related to this Agreement, the prevailing ’nr‘ty in any such action shall be entitled to an award of actual attomcys’ fees and costs incurred in such action or proceeding, without regard to any rule of court 0 tedule ot‘such fees maintained by the court. in addition to any other dzm'mges in relief awarded, regardless of whether such action proceeds in ?naljtidgment.

16. W mil’liNDENT INVESTIGATION.

Each Party to this Agreement has matte an independent investigation of the {a s pertaining to the provisions container} in this Agreement and all of i te matters pertaining thereto as deemed necessary.
17‘ PARTIES Dl ELYAUTHORJZ
Each Patty executing this Agreement is duly authorized and empowered to do so. l8. l-llEADl‘NGSAND FORMA'X‘FNG.

The heading: and formatting in this Agreement are lllSCted for convenience only. 'l'hcy (it) its“)! constitute part of this Agreement and shall not be used in its construction. l9l TIME OF ESSENCE
Time is; (if the essence in the performance of the provisions of this Agreement as to which time is an Ulcmcm.

20. BREACH AND Rh MEDIES.
‘Nutwithswnding any provision ol‘this Agreement to the cannery. no Party lien'tn shall be deemed to be in default under this Agreement with respect to any obligation owed to another unless the Party asserting a breach or default shall have ?rst delivered a written S
H"; ’ hit in
1‘AND MUTUAL ELEAS‘SAGREEMY
LLC L. at. v. City r/If/ItdtnI at. 7- INC (”1'3“)?! (11“!th [16-1159 Page l l of 10

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 934 of 953 notice of any alleged default to the allegedly defaulting Party that specifies the nature of such default. if such default is not cured by the allegedly defaulting Party within sixty (60) days after receipt of such notice ofdcfnult, or with respect to defaults that cannot be cured within such period the allegedly defaulting Party fails to commence to cure the alleged default within thirty (30) days after receipt of the rmtioe ot‘deihnlt or thereafter fails to diligently pursue the: cure of such default. the Party alleging default by another may bring an action to enforce this Agreement or, at the option or”the Party Claiming default, bring a motion to animate this Agreement under Section 664.6 ntthr‘: Code of Civil Procedure. Default by any Weintraul) assignce m successor in interest with respect to a particular obligation hereunder shall only affect the portion of the Weintmub Site with respect in which nuch default has occurred, arrl Shall not effect any other Party‘s rights hereunder. In the event that a breach nt‘this Agreement occurs, irreparable harm is likely to occur to the rmrrbrcaehing l’zmy and damages will he an inadequate remedy. in the extent permitted by law, therefore, it is expressly recognized that injunctive relict‘tmrl speci?c enforcement of this Agreement are proper and desirable remedies, Ilntl it is; agreed that any claim by a Party alleging a default against an Allegedly defaulting Party for an alleged breach of his Agreement may he rerttedied by injunctive reliel~or an appropriate action for speci?c enforcement of this Agreement in adtiitinn to any Other remedy available at law or in equity.
2 l , WAIVER
Failure by a Party to insist upon the strict performance of any at this Agreements provisiuusby another Part)" or the failure by a Party to exercise its rights upon an tlllli' Ll default of another Party, Shilllnot constitute a waiver of such Party’s right to insist 21ml demand strict compliance lay the other Party with the terms ofthis Agreement thereafter.

22. NOTICE,
All notices or other eomrrrunicntinnsrequired tir permitted hereunder thall he in writing; and Silllll be either personally delivered (winch shall include delivery by means «it prot'e ionnl nvcrriight ctrun'er service which con?rms receipt in writing, I. i as Federal Express or UPSD,sent by mic-copieror facsimile (“Fax“) machine C‘lpitblt:of con?nning transmission and receipt, or sent by certi?ed or registered mail, return receipt requested, postage: prepaid to the following parties at the following adtlrcsse:t or numbers:

If to City: City ot‘lndin
lOOCivic Center Mall
Indie, California 92201
Attention: City ll’lanrrger and City Attorney
'l’clephonc:(7’60) 39l-~‘¢015; l (760) 39l—4DOS
SETTLE AND ,‘vlllltlALi ' EEMEVT
”W Int/ItoLLC' 6! m‘.v. City Qflmt'r‘oe! (I! ~ INC mm and NC 0641.29 Page ll! nt‘ 16

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 935 of 953 RECORDING REQUESTED By
WHEN RECORDED MAIL TO:

City of Indio
Attn: City Clerk
Indio City Hall
100 Civic Center Mall
Indio, CA 92210
2026- 0217738
07/ 14/ 2026 09: 57 AM Fee: $ 0. 00

Page 1 of 18 ends

Recorded in Official Records
County of Riverside
Peter Aldana
Assessor - County Clerk - Recorder
I91R. hMl;'P') VK, ff. IIIINo Recording Fee,
Government Code Section 6103 (Above Space for Recorder' s Use Only) THIRD AMENDMENT TO

DEVELOPMENT AGREEMENT THIS THIRD AMENDMENT
TO DEVELOPMENT AGREEMENT (" Third Amendment") is made
and entered into this 19th day of January 2022 ("Effective Date"), by and among the City ofIndio, a California municipal corporation (" theCity") and certain owners of real property subject to that certain development agreement byand between the City and Pacific Indio Properties, Inc. (" PIP") as amended by the Second Amendment to Development Agreement (in theaggregate "Owners").

The Owners executing this Third Amendment are: (i) I -Ten Monroe, LLC, a California Limited Liability Company ("I -Ten Monroe"); BH Indio Land LLC, a California Limited Liability Company (` BH Indio"); Charlotte Southwest Corporation, a Delaware Corporation (" Charlotte) and Urbanica, LLC, a California Limited Liability Company. Accordingly, the City and Owners enter into this Third Amendment with reference tothe following: RECITALS A.

The
City
and Pacific Indio Properties, Inc. (" PIP") entered into a Development Agreement dated November 27, 1991, which was recorded inthe office of the Riverside County Recorder as Instrument Number 047277 on February 11, 1992 (" Original Development Agreement"). The Original Development Agreement was subsequently amended by that certain Amendment to Development Agreement by and between the City and PIP dated September 3, 1997 ("First Amendment").

The Original Development Agreement and the First Amendment collectively referred to asthe "Development Agreement") apply toapproximately two hundred and forty-one ( 241) acres of land, generally described as extending north from Interstate 10 to Avenue 42, and east from aboundary between Clinton and Monroe Streets to near Jackson Street, and approved by the City for phase development (" Site"). B. Subsequently, the City entered into the "Second Amendment to Development Agreement" dated November 20, 2010, which was recorded inthe office of the Riverside County Recorder as Instrument Number 20011- 050690 ("Second Amendment"). The Second Amendment did not encompass the entire Site and was entered into only by certain owners of real property within the Site as set forth in the Second Amendment and said property is generally described as follows: 1-

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 936 of 953

1. The owner of that certain real property within the Site that is approximately 11 acres in size and generally located immediately south of Avenue 42 and immediately west of Spectrum Boulevard;

2. The owner of that certain real property within the Site consisting of approximately 21. 5 acres and generally located ( i) along the north side of Interstate 10 immediately west of Jackson Street, ( ii) immediately south of Avenue 42 on both sides of Caspian Street, and iii) immediately south of Showcase Parkway and immediately west of Caspian Street;

3. The owner of that certain real property within the Site consisting of 165 acres in size and generally located ( i) west of Monroe Street, east of Clinton Street, and immediately south of Avenue 42, and ( ii) east of Monroe Street, west of Spectrum Boulevard and immediately south of Avenue 42;

4. The owner of that certain real property within the Site consisting of approximately thirteen and one-half (13. 5) acres in size and generally located south ofAvenue 42, east of Monroe Street and west of Spectrum Boulevard.

The Second Amendment extended the term of the Amended Development Agreement until and through January 19, 2022 (" Term") and such Term applied exclusively to the terms of the Amended Development Agreement that addressed permissible land uses ofthe Site and the density thereof. The Development Agreement and the Second Amendment shall collectively be referred to herein as the " Amended Development Agreement."
C. I -Ten Monroe is the current owner and holder of rights under the Amended Development Agreement as to that certain real property within the Site, that totals approximately

13. 52 acres in size and is more particularly described in Exhibit A attached hereto and incorporated herein by this reference.

D. BH Indio is the current owner and holder of rights under the Amended Development Agreement as to that certain real property within the Site, that totals approximately

93. 51 acres in size and is more particularly described in Exhibit B attached hereto and incorporated herein by this reference.

E. Charlotte is the current owner and holder of rights under the Amended Development Agreement as to that certain real property within the Site, that is totals approximately

13. 94 acres in size and is more particularly described in Exhibit C attached hereto and incorporated herein by this reference.

F. Urbanica is the current owner and holder of rights under the Amended Development Agreement as to that certain real property within the Site, that is totals approximately

11. 43 acres in size and is more particularly described in Exhibit D attached hereto and incorporated herein by this reference.

F. The Site in recent years has been an area of increased development activity, however, with the continuance of the COVID- 19 pandemic and its impact on the development community as well as the City, allowing the lapse of the Development Agreement would be detrimental. Accordingly, the Parties desire an extension of the Development Agreement for an 2-

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 937 of 953 additional 18 months to allow the Owners that are signatories to this Third Amendment additional time to pursue the development opportunities that were lost during the COVID- 19 pandemic.

G. The City has reviewed the request by the Owners and has concluded that the additional time extension is in the City' s best interests and constitutes sufficient consideration to support the request.

NOW, THEREFORE, in consideration of the above -referenced facts and the covenants of the parties contained below in this Third Amendment, and for other good and valuable consideration, the receipt and sufficiency of which the parties hereby acknowledge, the parties hereby agree as follows:

AGREEMENT
Section 1. Incorporation of Recitals. The recitals above are true and correct and incorporated by reference into this Third Amendment.

Section 2. Term Extended. The term of the Amended Development Agreement as set forth in the Second Amendment is hereby extended to July 18, 2023. Similar to the provisions of Paragraph 5 of the Second Amendment, the extension of the term affected by this Third Amendment applies exclusively to the provisions of the Amended Development Agreement that address land uses and density as well as the development standards for the Site. Accordingly, except as otherwise amended herein, the remaining text ofParagraph 5 of the Second Amendment remains in full force and effect.

Section 3. Environmental Analysis of Future Development. Each undersigned party understands and agrees that the City reserves the right to require any Owner proposing new development of any portion of the Site subject to this Third Amendment to comply, at its own cost, with such requirements of the California Environmental Quality Act as the City determines applicable in an exercise of City' s sole discretion.

Section 4. General Provisions.
a. Notice, All notices or other communications required or permitted hereunder shall be in writing and shall be either personally delivered ( which shall include delivery by means of professional overnight courier service which confirms receipt in writing ( such as Federal Express or UPS) or sent by certified or registered mail, return receipt requested, postage prepaid to the following parties at the following addresses or numbers:

If to City: City of Indio
100 Civic Center Mall
Indio, California 92210
Attention: City Manager
3-

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 938 of 953 If to I -Ten Monroe I -Ten Monroe
10990 Wilshire Boulevard
Suite 1000
Los Angeles, California 90024
Attn: Stanley Rothbart
If to Urbanica: Urbanica, LLC
c/ o Bruce E. Hood, Esq.

Withers Bergman LLP
430 Park Avenue, 1 Oth Floor
New York, New York 10022- 3505
If to Charlotte: Charlotte Southwest Corporation
c/ o Bruce E. Hood, Esq.

Withers Bergman LLP
430 Park Avenue, loth Floor
New York, New York 10022- 3505
Ifto BH Indio: BH Indio Land LLC
11111 Santa Monica Boulevard, Suite 600
Los Angeles, California 90025
Notices sent in accordance with this paragraph shall be deemed delivered as follows: ( i) the date of delivery as indicated on the written confirmation of delivery ( if sent by overnight courier service); ( ii) the date of actual receipt ( if personally delivered by other means); or ( iii) the date of delivery as indicated on the return receipt if sent by certified or registered mail, return receipt requested. Notice of change of address shall be given by written notice in the manner detailed in this paragraph.
b. Applicable Law. This Third Amendment shall be construed and enforced in accordance with the laws of the State of California, and the venue for any legal actions brought by any Parry with respect to this Third Amendment shall be the County of Riverside, State of California for state actions and the Central District of California for any federal actions.

C. Binding Effect. This Third Amendment, and all of the terms and conditions herein, shall be binding upon and inure to the benefit of the Parties, any subsequent developer of all or any portion of the real property interests of the Owners, and their respective assigns, heirs or successors in interest, whether or not any reference to this Third Amendment is contained in the instrument by which the person acquired an interest in the real property interests herein. d. No Third Party Beneficiaries. The only parties to this Third Amendment are the City and the Owners and their successors -in -interest. There are no third party beneficiaries and this Third Amendment is not intended, and shall not be construed, to benefit or be enforceable by any other person whatsoever.

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 939 of 953 e. Applicability. This Third Amendment applies to the real property interests of the Owners as set further described in Exhibits A, B, C and D. f. Remedies. The Parties agree that the remedies for breach of this Third Agreement shall be injunctive relief and/or specific performance. Owners shall not be entitled to monetary damages or consequential or special damages for the City' s breach or if this Third Amendment is found invalid or unenforceable by a court of competent jurisdiction. g. Nonliability of City Officers and Employees. No official, officer, employee, agent or representative of City, acting in his/her official capacity, shall be personally liable to any Owner, or any successor or assign, for any loss, costs, damage, claim, liability, or judgment, arising out of or connection with this Third Amendment, or for any act or omission on the part of City.
h. Entire Agreement. This Third Amendment and the exhibits herein contain the entire agreement between the Parties and is intended by the Parties to completely state the agreement in full. Any agreement or representation respecting the matters dealt with herein or the duties of any Party in relation thereto, not expressly set forth in this Third Amendment or the Development Agreement, is null and void.
i. Severability. If any term, provision, condition, or covenant of this Third Amendment, or the application thereof to any Party or circumstance, shall to any extent be held invalid or unenforceable, the remainder of the instrument, or the application of such term, provision, condition or covenant to persons or circumstances other than those as to whom or which it is held invalid or unenforceable, shall not be affected thereby and each term and provision of this Third Amendment shall be valid and enforceable to the fullest extent permitted by law. j. Counterparts. This Third Amendment may be executed in one or more counterparts each of which will be deemed an original, but all of which constitute one and the same instrument.
k. Authorization. Each person executing this Third Amendment represents and warrants that he or she is authorized and has the legal capacity to execute and deliver this Third Amendment on behalf ofthe Party for which execution has been made.

1. Recordation of Agreement. As provided in Section 65868. 5 of the Development Agreement Act, the City shall cause a copy ofthis Third Amendment to be recorded against the Owner' s real property interests subject to this Third Amendment with the County Recorder within ten ( 10) days following the Effective Date. in. Time is of the Essence. Time is of the essence of this Third Amendment and every term or performance hereunder.

IN WITNESS WHEREOF, the undersigned have executed this Third Amendment as ofthe day and year first above written.
5-

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 940 of 953 CITY"
CITY OF INDIO, a California municipal
corporation
a - V '%,
Bry Montgomery, Ci ana r
ATTEST:
152r I 3-
Cyn emandez, City CkA
APPROVED AS TO FORM:

Roxanne Diaz, ity Attorney
BE

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 941 of 953

ACKNOWLEDGMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or
validity of that document.

State of California
County of Riverside
On September 2, 2022 before me, Sabdi Sanchez, Notary Public insert name and title of the officer)
personally appeared Bryan H. Montgomery
who proved to me on the basis of satisfactory evidence to be thzt; on(. whose name is are subscribed to the within instrument and acknowled ed to me thhe/they executed the same in is erltheir authorized capacity( ies and that b his erltheir signatur on the instrument the personNor the entity upon behalf of which the person' acted, executed the instrument.

I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.

WITNESS my hand and eal. SAEDI SANCHEZ
Notary Public - California
Riverside County
Commission N 2257512
My Comm. Expires Oct 1, 2022
Signature ( Seal)

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 942 of 953 I -TEN MONROE, a California Limited
Liability Company
Stanley Rothbart
BH INDIO LAND LLC, a California
Limited Liability Company
Farzaneh Gozini, Trustee of the Gozini
Children' s Trust of 2005, Its Sole Member

CHARLOTTE SOUTHWEST
CORPO TiON, a Delaware Corpor ' on
Bruce E. Hood
URBANICA, LLC, a California L'
Liability ompany i
Bruce E. Hood
7-

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 943 of 953 I -TEN MONROE, a California Limited
Liability Company
Stanley Rothbart
BH INDIO LAND LLC, a California
Limited Liability Company
Farzaneh Gozini, Trustee of the Gozini
Children' s Trust of2005, Its Sole Member

CHARLOTTE SOUTHWEST
CORPO TION, a Delaware Corpor ' on
Bruce E. Hood
URBANICA, LLC, a California Li
Liability " onipany
f
C
Bruce E. Hood
7-

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 944 of 953 State ofNew York
ss..

County of New York
On the 22nd day of August in the year 2022 before me, the undersigned, personally appeared Bruce E. Hood, personally known to me or proved to me on the basis of satisfactory evidence to be the individual( s) whose name( s) is ( are) subscribed to the within instrument and acknowledged to me that he/ she/ they executed the same in his/her/their capacity(ies), and that by his/ her their signature( s) on the instrument, the individual(s), or the person upon behalf of which the individual( s) acted, executed the instrument.
na re -and Office of individual taking acknowledgment
E
t5 W.tNG CHAN
s
OF NEW YORK TAfiP1 4. 1C- STATE
cH6324921
Ovalified in'Oueens Gount
2023 06. 24
ft)[ y Contimissior+ ExP

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 945 of 953 ACKNOWLEDGMENT1T
A notary public or other officer completing this
certificate verifies only the identity of the individual who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or
validity of that document. ;
State of California
County of Los i" ULS
On I
i c j ?AZ-(.; before me, _~ L: . =, i
insert nam= d title of the offic r)
personally appeared ' S- AW1 k- VA'\ 10 }'
who proved to me on the basis of satisfact ry evidence to be the person( s) whose name( s) is/ are subscribed to the within instrument and acknowledged to me that he/ she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature( s) on the instrument the person( s), or the entity upon behalf of which the person( s) acted, executed the instrument. certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.

TARA GIPSON
WITNESS my hand and official seal. o
COMM.# 2516757 z
Not Public - C
County
o
Los Angeles County -+
My Comm. Expires May 5, 2029
Signature 6L ( Seal)

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 946 of 953

ACKNOWLEDGMENTS
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.

STATE OF CALIFORNIA

COUNTY OF LOS ANGELES
On ,& , 2026, before me, _, a Notary Public, personally appeared Farzaneh Gozini and who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that she executed the same in her authorized capacity, and that by her signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument.

I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.

Signature
Y. WACHTEL
K.- Notary Public - California
i Los Angeles County >
Commission R 2439278
T' My Cemm. Expires Mar 26, 2027

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 947 of 953

EXHIBIT A
LEGAL DESCRIPTION (APN 610-330- 027)
I-10 MONROE LLC

Page 95 of 100 ends

Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 948 of 953

EXHIBIT B

LEGAL DESCRIPTION
APNS 610- 020- 010, 610- 020- 021, 610- 020- 034, 610- 020- 036) B.H. INDIO LAND LLC

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 949 of 953

EXHIBIT C

LEGAL DESCRIPTIONS
APNS 610- 270- 068, 610- 270- 069, 610- 080- 062)

CHARLOTTE SOUTHWEST CORPORATION

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 950 of 953

EXHIBIT D

LEGAL DESCRIPTIONS
APNS 610- 330- 026)

URBANICA, LLC

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 951 of 953

PETER ALDANA
Recorder
P. O. Box 751
COUNTY OF RIVERSIDE Riverside, CA 92502- 0751

ASSESSOR -COUNTY CLERK -RECORDER (
951) 486- 7000
www. rivcoacr. org

CERTIFICATION
Pursuant to the provisions of Government Code 27361. 7, 1 certify under the penalty of perjury that the following is a true copy of illegible wording found in the attached document:

Print or type the page number(s) and wording below):
ice kvr y
N
J
Q n c 1,7o- k7
NG. 0 C/ 161-32y9z
Q t'L6L&_ e 0(
4'p-e-V13 C(_L_11)
P0' 6U&
tyboe_ aJ Jo_&W \/( jy
Date: l C a ' 7
f
Signature:

Print Name: c_ _ o lM -s! Gl Z6 1
ACR 601( Rev. 09/ 2005) Available in Alternate Formats

Page 99 of 100 ends

Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 952 of 953

PETER ALDANA
Recorder
P.O. Box 751
COUNTY OF RIVERSIDE Riverside, CA 92502- 0751

ASSESSOR -COUNTY CLERK -RECORDER (
951) 486- 7000
WW W Avcuacr.pr;

NOTARY CLARITY
Under the provisions of Government Code 27361. 7, 1 certify under the penalty of perjury that the notary seal on the document to which this statement is attached reads as follows:

Name of Notary:

Commission #:

Place of Execution
FIZ
u PP,ra.t CZ&12&,
Date Commission Expires:

Date: 7—
Signature:

Print Name: CL.

ACR 186 ( Rev. 07/ 2013) Available in Alternate Formats

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Introduction and First Reading of Ordinance 1843 Approving a Fourth Amen... Page 953 of 953

Indio City CouncilAugust 19, 2026

Indio City Council
August 19, 2026