1 4905-4399-3402v2/022042-0035
WAIVER OF CERTAIN ELECTION PROCEDURES
WITH RESPECT TO LANDOWNER ELECTION FOR
COMMUNITY FACILITIES DISTRICT NO. 2021-1
OF THE CITY OF LAKE ELSINORE (TUSCANY VALLEY/CREST)
IMPROVEMENT AREA NO. 1
The undersigned, Scott Hansen, acting on behalf of KB HOME Cal Management Services LLC, a Delaware limited liability company (the “Owner”), hereby certifies to the City of Lake Elsinore (the “City”), with respect to the proposed change proceedings for Improvement Area No. 1 (the “Improvement Area”) of Community Facilities District No. 2021-1 of the City of Lake Elsinore (Tuscany Valley/Crest) (the “District”), as follows:
1. The undersigned has been duly authorized by the Owner and possesses all authority necessary to execute this Waiver on behalf of the Owner in connection with the election to be called by the City Council of the City with respect to the District. The Owner hereby appoints Scott Hansen to act as its authorized representative to vote in the election referred to herein and certifies that his true and exact signature is set forth below:
Signature of Scott Hansen: __________________________________
2. The Owner is the present owner of 46.42 acres of land located within the boundaries of the Improvement Area. There are no registered voters residing within the territory owned by the Owner and have been none during the 90-day period preceding August 26, 2025.
3. The Owner has received notice of the August 26, 2025 public hearing to be held by the City Council of the City regarding (i) the approval of a new rate and method of apportionment for the Improvement Area and (ii) increasing the authorized bonded indebtedness with respect to Improvement Area No. 1 from $14,000,000 to $16,000,000 (the “Change Proceedings”). The Owner agrees that it received adequate notice of the August 26, 2025 hearing.
4. The Owner has received from the City and the City has made available to the Owner necessary and relevant information regarding the proposed Change Proceedings, as set forth in Resolution No. 2025-51 adopted by the City Council on July 22, 2025 (the “Resolution”).
5. The undersigned understands that if the Change Proceedings are undertaken on or after August 26, 2025, an election will be held by the District for the Improvement Area on the proposition set forth in the sample ballot attached hereto as Exhibit “A” less than 90 days after the close of the August 26, 2025 public hearing as in accordance with Section 53326 of the Government Code, without the preparation of an impartial analysis, arguments or rebuttals concerning the election as provided for by Elections Code Sections 9160 to 9167, inclusive, and 9190 and without preparation of a tax rate statement as provided in Section 9401 of the Elections Code and without further notice of such election as required pursuant to the Elections Code or the Government Code. Having been fully advised with respect to the election, in accordance with the authority contained in Government Code Sections 53326 and 53327, the Owner waives compliance with the foregoing provisions of the Elections Code and Government Code, with any time limits or other procedural requirements pertaining to the conduct of the election which are not being complied with and consents to having the election on any date on 2 4905-4399-3402v2/022042-0035
or after the close of the August 26, 2025 public hearing and consents to the closing of the election as soon as all ballots are received by the City Clerk.
6. The undersigned hereby represents that compliance with the procedural requirements for conducting the election, including the receipt of any ballot arguments and impartial analysis and the time limitations which apply in connection with scheduling, mailing and publishing notices for such an election, are unnecessary in light of the fact that the undersigned has received sufficient information regarding the imposition of the special tax and the issuance of bonded indebtedness as set forth in the Resolution to allow it to properly complete the attached ballot. The Owner further waives its right to make any protest or complaint or undertake any legal action challenging the validity of the election, the validity of any bonded indebtedness issued by the District for the Improvement Area as approved at the election, or the validity of the authorization of the special tax to finance facilities for the benefit of the District or to repay bonded indebtedness issued by the District for the Improvement Area in accordance with the rate and method of apportionment of special taxes provided in the Resolution.
Dated: August 26, 2025
KB HOME Cal Management Services LLC,
a Delaware limited liability company
By:
Name: Scott Hansen
Title: VP Forward Planning
A-1
4905-4399-3402v2/022042-0035
EXHIBIT A
SAMPLE BALLOT
COMMUNITY FACILITIES DISTRICT NO. 2021-1
OF THE CITY OF LAKE ELSINORE (TUSCANY VALLEY/CREST)
(IMPROVEMENT AREA NO. 1)
SPECIAL ELECTION
August 26, 2025
This ballot represents 29 votes.
To vote, write or stamp a cross (“+” or “X”) in the voting square after the word “YES” or after the word “NO”. All marks otherwise made are forbidden. All distinguishing marks are forbidden and make the ballot void.
If you wrongly mark, tear or deface this ballot, return it to the City Clerk of City of Lake Elsinore and obtain another.
PROPOSITION A: Shall a special tax with a Second Amended and Restated Rate and Method of Apportionment (the “Second Amended and Restated Rate and Method”) as provided in Attachment “B” to Resolution No. 2025-51 adopted by the City Council of the City of Lake Elsinore on July 22, 2025, acting as the legislative body of Community Facilities District No. 2021-1 of the City of Lake Elsinore (Tuscany Valley/Crest) (the “District”), be levied to pay for the Facilities, Incidental Expenses (as defined in Resolution No. 2021-53) and other purposes described in Resolution No. 2021-53, adopted by the City Council of the City of Lake Elsinore on April 27, 2021, including the payment of the principal of and interest on bonds issued by the District for Improvement Area No. 1 of the District to finance the Improvements and Incidental Expenses? YES____
NO_____
PROPOSITION B: Shall the maximum authorized bonded indebtedness with respect to Improvement Area No. 1 be increased from $14,000,000 to $16,000,000, with interest at a rate or rates not to exceed the maximum interest rate permitted by law, to finance the Facilities and the Incidental Expenses described in Resolution No. 2021-53 adopted by the City Council of the City of Lake Elsinore on April 27, 2021?
YES____
NO_____