Agenda packet — Lake Elsinore City Council, March 24, 2026 (part 1 of 4)

City of Lake Elsinore Meeting Date:

City Council Meeting March 24, 2026
Agenda
Cultural Center Meeting Time:
183 N. Main Street Closed Session: 5:00 PM
Lake Elsinore, CA 92530 Open Session: 7:00 PM
Mayor Magee
Mayor Pro Tem Sheridan
Council Member Tisdale
Council Member Manos
Council Member Carroll
The City of Lake Elsinore appreciates your attendance. Citizens’ comments, input and interests provide the City Council with valuable information regarding issues of the community.

Meeting Information
Meetings are held on the 2nd and 4th Tuesday of every month, and the agenda is posted 72 hours prior to each meeting outside of City Hall. The agenda and related reports are also available on the City’s website at www.Lake-Elsinore.org. Meetings are conducted in person, televised live on Spectrum Cable Station Channel 29 and Frontier Cable Channel 31, and streamed online at http://www.lake-elsinore.org/city-government/citycouncil/webcast-videos. If you are attending the meeting in person, please park in the parking lot across the street from the Cultural Center to assist us in limiting the impact of meetings on the Downtown Business District. Thank you for your cooperation.

Public Comments – Addressing the City Council
Any person wishing to address the City Council on items not included on the Agenda may do so during Public Comments for 1 minute at the beginning of the meeting or during Public Comments for 3 minutes at the end of the meeting. We respectfully ask those interested in addressing the City Council to either submit a request to speak online at http://www.lake-elsinore.org/city-government/agendas-and-minutes or complete and present a “Request to Speak” form to the City Clerk at the meeting. This Form is available on the table located inside the Council Chamber. Members of the public may also provide comments on Agenda items by noting the item on the “Request to Speak” form and will be called to address the City Council when the item is considered by the City Council during the meeting.

Written Communications
If you would like to submit written public comments, you may do so prior to the meeting either by entering them online at the link above or emailing them to the City Clerk at [email protected]. Any written communications or additional documents distributed to the City Council within 72 hours of the meeting will also be made available to the public in accordance with Government Code Section 54957.5.

Accessibility Accommodations
In compliance with the Americans with Disabilities Act, any person with a disability who requires a modification or accommodation in order to participate in a meeting should contact the City Clerk’s Department at (951) 674- 3124, Option 6, at least 48 hours before the meeting to make reasonable arrangements to ensure accessibility.

Dream Extreme 2040 is the City’s FIRST long-term strategic plan to assist the City in its pursuit of achieving its vision. The plan is a living document that will be updated regularly and serve as the framework to guide all decision-making over the next 20 years by identifying key Anchors, Aspirations, and Strategies.

Our Vision is that the City of Lake Elsinore will be the ultimate destination where all can live, work, play, build futures, and fulfill dreams.

The Anchors are the City of Lake Elsinore’s unique community assets and opportunities: The Lake, Downtown, and Action and Adventure.
• The Lake: Lake Elsinore is a vital community asset. Protecting, enhancing, and celebrating the Lake is critical to the health of the City and community.
• Downtown: Enhancing and creating the highest-quality downtown experience will serve to establish a strong sense of place that will shape the City’s identity as a place where residents and visitors can live, work, and play.
• Action and Adventure: Lake Elsinore’s programs, facilities, and natural environment will define the City as a destination for action and adventure for both visitors and residents.

Our Aspirations are broad, long-term goals that encapsulate what we hope to achieve in Lake Elsinore’s future. The City has identified 4 key aspirations to work towards.

Items on the agenda that align with Aspirations from the Dream Extreme 2040 Plan are noted by the Aspiration’s icon to highlight City Council actions that help the City pursue its goals.

To read the plan and learn more about its implementation in the City, visit www.LakeElsinore.org/DreamExtreme2040.

City Council Agenda March 24, 2026
City of Lake Elsinore Page 2

CALL TO ORDER

ROLL CALL

PUBLIC COMMENTS ON CLOSED SESSION ITEMS
CLOSED SESSION - 5:00 P.M.

PUBLIC EMPLOYEE PERFORMANCE EVALUATION
Recommendation:
(Gov’t Code Section 54957(b)): City Manager
APN’s 371-090-001, 002, 003, 004, 371-150-010 & 371-160-007 Recommendation:
(Gov’t Code Section 54956.8)
Property: APN’s 371-090-001, 002, 003, 004, 371-150-010 & 371-160-007 Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and GMB Land, LLC/Steve Galvez Under negotiation: Price and terms of payment

CONFERENCE WITH LEGAL COUNSEL--ANTICIPATED LITIGATION
Recommendation:

Significant exposure to litigation pursuant to paragraph (2) of subdivision (d) of Gov’t Code Section 54956.9: One potential case.

RECESS
The City Council will recess to Closed Session.

RECONVENE/CALL TO ORDER - 7:00 P.M.

The Regular Meeting of the City Council will reconvene and the Regular Meeting of the Successor Agency will be called to order.

PLEDGE OF ALLEGIANCE

ROLL CALL

CLOSED SESSION REPORT

PRESENTATIONS/CEREMONIALS
Certificate of Recognition to Kaz Egan
Recommendation:

Present a Certificate of Recognition to Lake Elsinore Storm emcee Kaz Egan in appreciation of his years of service and contributions to the Lake Elsinore community.

1. 2.

3. 4.

4.1 4.2

4.3 5.

6. 7.

8. 9.

10. 10.1
City Council Agenda March 24, 2026
City of Lake Elsinore Page 3
DMV Donate Life Month 2026
Recommendation:

Present a Proclamation proclaiming the month of April 2026 as “DMV Donate Life Month” in the City of Lake Elsinore.

Business in Action Monthly Spotlight - Pacific Freedom Marine Group Recommendation:

Recognize Pacific Freedom Marine Group as the City of Lake Elsinore’s Business in Action Monthly Spotlight for March 2026.

PUBLIC COMMENTS - NON-AGENDIZED ITEMS - 1 MINUTE
(Please read & complete a Request to Address the City Council/Successor Agency form prior to the start of the meeting and turn it in to the City Clerk/Clerk. The Mayor/Chair or City Clerk/Clerk will call on you to speak.)

CITY COUNCIL CONSENT CALENDAR
Minutes of the Regular City Council Meeting of March 10, 2026 Recommendation:

Approve the Minutes.

CC Warrant Report Dated February 23, 2026, to March 01, 2026.

Recommendation:

Receive and file.

CC Warrant Report Dated March 02, 2026 to March 08, 2026 Recommendation:

Receive and file.

CC Investment Report for February 2026
Recommendation:

Receive and file the Investment Report for February 2026.

Second Reading of an Ordinance Amending Central Tree Collective, Inc.’s Development Agreement to Revise the Community Benefit Fee Recommendation:

Adopt by title only and waive further reading of AN ORDINANCE OF THE CITY COUNCIL

OF THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING THE DEVELOPMENT AGREEMENT AMENDMENT (DA-2025-13) FOR CENTRAL TREE COLLECTIVE INC., LOCATED AT 18532 PASADENA STREET (APN: 377-430-023).

10.2 10.3

11. 12.

12.1 12.2

12.3 12.4

12.5 City Council Agenda March 24, 2026
City of Lake Elsinore Page 4
Second Reading of an Ordinance Amending and Restating Chapter 8.44 of the Lake Elsinore Municipal Code Regarding Bowfishing on Lake Elsinore Recommendation:

Adopt by title only and waive further reading of AN ORDINANCE OF THE CITY COUNCIL

OF THE CITY OF LAKE ELSINORE, CALIFORNIA, AMENDING AND RESTATING CHAPTER 8.44 OF THE LAKE ELSINORE MUNICIPAL CODE REGARDING BOWFISHING ON LAKE ELSINORE.

Amendments to the On-Call Agreements in Support of the City‘s Construction and Maintenance Operations
Recommendation:

Approve and authorize the City Manager to executed Amendment No. 3 to the On-Call Contractor Services Agreements for Minor Construction and Repair Services with Endresen Development, Inc. to increase compensation by an additional not to exceed amount of $600,000 annually, with Cotter Construction, Inc. to increase compensation by an additional not to exceed amount of $500,000 annually, and with B&B Nurseries, Inc. (dba Landscape Center) to increase compensation by an additional not to exceed amount of $325,000 annually, in such final form as approved by the City Attorney.

Amendment No. 1 to the Agreement with GEI Consultants, Inc. for Lake Water Quality Testing & Reporting
Recommendation:

Approve and authorize the City Manager to execute Amendment No. 1 to the Professional Services Agreement with GEI Consultants, Inc. for lake water quality testing and reporting for an additional amount of $80,000 for a new not to exceed amount of $150,000 in such final form as approved by the City Attorney.

Public Works Construction Agreement with Rapid Fire Safety and Security for the Design, Purchase, and Installation of the Fire Suppression System, in the New Library (CIP Project No. Z20003)
Recommendation:

Approve and authorize the City Manager to execute a Public Works Construction Agreement with Rapid Fire Safety & Security in an amount not to exceed $271,686.29 for the design, purchase, and installation of the fire suppression system in the new library in such final form as approved by the City Attorney; authorize the City Manager to execute change orders not to exceed the 10% contingency amount of $27,169.00; and authorize the City Clerk to record the Notice of Completion once work is completed.

12.6 12.7

12.8 12.9
City Council Agenda March 24, 2026
City of Lake Elsinore Page 5
Public Works Construction Agreement with Rapid Fire Safety & Security for the Design, Purchase, and Installation of the Fire Suppression System, in the Senior Housing CIP Project No. Z20026
Recommendation:

Approve and authorize the City Manager to execute a Public Works Construction Agreement with Rapid Fire Safety & Security in an amount not to exceed $204,405.91 for the design, purchase, and installation of the fire suppression system in the Senior Housing Project in such final form as approved by the City Attorney; authorize the City Manager to execute change orders not to exceed the 10% contingency amount of $20,440.00; and authorize the City Clerk to record the Notice of Completion once work is completed.

Professional Services Agreement with Albert A. Webb Associates for Environmental, Final PS&E, and Construction Support for the Highway Safety Improvement Program Cycle 12 Railroad Canyon Road Safety Improvement Project
Recommendation:

Approve and authorize the City Manager to execute a Professional Services Agreement with Albert A. Webb Associates (Webb) for the Highway Safety Improvement Program Cycle 12 Railroad Canyon Road Safety Improvement project in an amount not to exceed $334,854 in such final form as approved by City Attorney; authorize the City Manager to execute change orders not to exceed a 10% contingency of $33,485 for uncertainties and adjustments.

Amendment No. 1 to Agreement with Hemet Fence in Support of City of Lake Elsinore Public Works Operations
Recommendation:

Approve and authorize the City Manager to execute Amendment No.1 with Hemet Fence for additional fencing improvements and increase compensation by an additional $146,700 for a total amount not to exceed $346,700 in such final form as approved by the City Attorney.

Annual On-Call Services Agreement with Sasser Restoration in Support of Lake Elsinore Public Works Operations
Recommendation:

Approve and authorize the City Manager to execute an On-Call Contractor Services Agreement with Sasser Restoration in an amount not to exceed $200,000 for on-call services to support City of Lake Elsinore public works operations in such final form as approved by the City Attorney.

Spring and Summer Downtown Event Road Closures
Recommendation:

Approve temporary road closures for various Spring and Summer Events in Historic Downtown and neighboring roads for April 4, April 25, May 30, June 27, and July 25, 2026 events, as identified in the attached traffic plans, and allow for changes as necessary and approved by the City Engineer.

12.10 12.11

12.12 12.13

12.14 City Council Agenda March 24, 2026
City of Lake Elsinore Page 6

SUCCESSOR AGENCY CONSENT CALENDAR
Minutes of the Regular Successor Agency Meeting of March 10, 2026 Recommendation:

Approve the Minutes.

SA Warrant Report Dated February 23, 2026, to Mar 01, 2026 Recommendation:

Receive and file.

SA Warrant Report Dated March 02, 2026 to Mar 08, 2026
Recommendation:

Receive and file.

SA Investment Report for February 2026
Recommendation:

Receive and file the Investment Report for February 2026.

PUBLIC HEARINGS
Election for Annexation Proceedings for Annexation No. 16 Into Community Facilities District No. 2015-1 (Safety Services)
Recommendation:

Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE

ELSINORE, CALIFORNIA, ACTING AS THE LEGISLATIVE BODY OF CITY OF LAKE ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2015-1 (SAFETY

SERVICES), ANNEXING TERRITORY TO COMMUNITY FACILITIES DISTRICT NO. 2015-1 (SAFETY SERVICES), AND CALLING ELECTIONS THEREIN; and

1. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE

ELSINORE, CALIFORNIA, ACTING AS THE LEGISLATIVE BODY OF THE CITY OF LAKE ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2015-1 (SAFETY SERVICES) CERTIFYING THE RESULTS OF THE MARCH 24, 2026, ANNEXATION AND SPECIAL TAX ELECTIONS.

2. 13.

13.1 13.2

13.3 13.4

14. 14.1
City Council Agenda March 24, 2026
City of Lake Elsinore Page 7
Election for Annexation Proceedings for Annexation No. 28 Into Community Facilities District No. 2015-2 (Maintenance Services) for Assessor’s Parcel Numbers (APNs) 381-320-020 and 381-320-026 (Bamiyan Marketplace) Recommendation:

Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE

ELSINORE, CALIFORNIA, CALLING AN ELECTION TO SUBMIT TO THE

QUALIFIED ELECTORS THE QUESTION OF LEVYING A SPECIAL TAX WITHIN

THE AREA PROPOSED TO BE ANNEXED TO COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) (ANNEXATION NO. 28);

1. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE

ELSINORE, CALIFORNIA, DECLARING ELECTION RESULTS FOR COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) (ANNEXATION NO. 28); and

2. Introduce by title only and waive further reading of AN ORDINANCE AMENDING ORDINANCE NO. 2016-1359 OF THE CITY COUNCIL OF THE CITY OF LAKE

ELSINORE, CALIFORNIA, ACTING IN ITS CAPACITY AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 2015-2 OF THE CITY OF

LAKE ELSINORE (MAINTENANCE SERVICES) AUTHORIZING THE LEVY OF SPECIAL TAXES.

3. Comprehensive User Fee Study
Recommendation:

Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,

CALIFORNIA, APPROVING A COMPREHENSIVE USER FEE STUDY AND ADOPTING A CITY-WIDE USER FEE SCHEDULE.

BUSINESS ITEMS
PUBLIC COMMENTS - NON-AGENDIZED ITEMS - 3 MINUTES
(Please read & complete a Request to Address the City Council/Successor Agency form prior to the start of the meeting and turn it in to the City Clerk/Clerk. The Mayor/Chair or City Clerk/Clerk will call on you to speak.)

CITY MANAGER COMMENTS

CITY ATTORNEY COMMENTS

CITY COUNCIL COMMENTS/REPORTS ON MEETINGS ATTENDED

ADJOURNMENT
The Lake Elsinore City Council will adjourn to the next Regular meeting on Tuesday, April 14, 2026 in the Cultural Center located at 183 N. Main Street. Closed Session will commence at 5:00 p.m. or such later time as noticed on the Agenda, and the regular Open Session business meeting will commence at 7:00 p.m.

14.2 14.3

15. 16.

17. 18.

19. 20.

City Council Agenda March 24, 2026
City of Lake Elsinore Page 8

AFFIDAVIT OF POSTING
I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, do hereby affirm that a copy of the foregoing agenda was posted at City Hall at 6:00 p.m. on Thursday, March 19, 2026. ______________________________
Candice Alvarez, MMC, City Clerk

21. City Council Agenda March 24, 2026
City of Lake Elsinore Page 9

Page 1 of 1 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Barbara Leibold, City Attorney
Date: March 24, 2026
Subject: APN’s 371-090-001, 002, 003, 004, 371-150-010 & 371-160-007 (Gov’t Code Section 54956.8)
Property: APN’s 371-090-001, 002, 003, 004, 371-150-010 & 371-160-007 Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and GMB Land, LLC/Steve Galvez Under negotiation: Price and terms of payment

Page 1 of 1 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Barbara Leibold, City Attorney
Date: March 24, 2026
Subject: CONFERENCE WITH LEGAL COUNSEL--ANTICIPATED LITIGATION Significant exposure to litigation pursuant to paragraph (2) of subdivision (d) of Gov’t Code Section 54956.9: One potential case.

Page 1 of 2 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Candice Alvarez, MMC, City Clerk
Date: March 24, 2026
Subject: Certificate of Recognition to Kaz Egan
Recommendation
Present a Certificate of Recognition to Lake Elsinore Storm emcee Kaz Egan in appreciation of his years of service and contributions to the Lake Elsinore community.

Background
For multiple seasons, Kaz Egan has served as the on-field emcee for the Lake Elsinore Storm baseball team at The Diamond Stadium in Lake Elsinore. In this role, he has been a central part of the fan experience, leading in-game promotions, on-field contests, and fan engagement activities, and helping to create a family-friendly, high-energy atmosphere at home games.

Through his work with the Storm organization, Kaz has participated in hundreds of events, including regular season games, postseason contests, special theme nights, and community programming at the ballpark. His personality, professionalism, and showmanship have made him a familiar and well‑loved presence to local residents, season ticket holders, youth groups, and visitors.

Kaz is now moving on to a new professional opportunity in baseball entertainment outside the Lake Elsinore area. The City wishes to recognize his service, acknowledge the positive impact he has had on the game‑day experience, and thank him for his role in promoting Lake Elsinore as a fun and welcoming destination for fans.

Kaz Egan Certificate of Recognition

Page 2 of 2 ends

Discussion
The Lake Elsinore Storm and Diamond Stadium are key community assets that support local identity, quality of life, and economic activity in the City. The in‑park experience created by staff, performers, and game day personnel is an important part of how residents and visitors experience Lake Elsinore.

As the Storm’s emcee, Kaz Egan has:
• Helped create a lively, engaging environment at home games through crowd interaction, coordinated promotions, and fan‑focused entertainment.
• Supported community‑oriented events at the ballpark, including themed nights, youth and family activities, and special presentations.
• Served as a recognizable ambassador for the Storm organization and, by extension, the City of Lake Elsinore.

A Certificate of Recognition is an appropriate way for the City Council to formally acknowledge his contributions, express appreciation on behalf of the community, and wish him success in his future endeavors. The certificate highlights his years of service, his role in enhancing the fan experience, and the City’s gratitude for his positive representation of Lake Elsinore.

Fiscal Impact
There is no fiscal impact associated with this item.

Attachments
Attachment 1 – Certificate of Recognition

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REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Candice Alvarez, MMC, City Clerk
Date: March 24, 2026
Subject: DMV Donate Life Month 2026
Recommendation
Present a Proclamation proclaiming the month of April 2026 as “DMV Donate Life Month” in the City of Lake Elsinore.

Attachments
Attachment 1 – Proclamation
DMV / Donate Life Month
Proclamation
Robert E. Magee
Mayor
NOW, THEREFORE, BE IT RESOLVED that in
recognition of National Donate Life Month, the
month of April 2026 is hereby proclaimed
“DMV/Donate Life Month” in the City of Beverly
Hills, and in doing so we encourage all Californians to check “YES!” online, or when applying for or
renewing their driver’s license or I.D. card at the
DMV.

WHEREAS, organ, eye, tissue, marrow and blood donation are life-giving acts recognized worldwide as expressions of compassion to those in need; WHEREAS, more than 103,000 individuals nationwide and more than 23,000 in California are currently on the national organ transplant waiting list, and on average, 17 people die each day while waiting;
WHEREAS, the need for donated organs is especially urgent in Hispanic, Latino, and African American communities;
WHEREAS, a single individual’s donation of the heart, lungs, liver, kidneys, pancreas and small intestine can save up to eight lives;
WHEREAS, donation of tissue can save and heal the lives of more than 75 others; WHEREAS, organ donors saved more than 46,000 lives last year, WHEREAS, any person can register to be an organ, eye and tissue donor regardless of age or medical conditions;
WHEREAS, being a registered donor does not impact the quality of life-saving medical care a person receives in an emergency;
WHEREAS, California residents can sign up with the Donate Life California Donor Registry online at any time by visiting www.donateLIFEcalifornia.org or, for Spanish-speakers, www.doneVIDAcalifornia.org
WHEREAS, California residents can sign up to be an organ, eye and tissue donor when applying for or renewing their driver’s licenses or ID cards at the California Department of Motor Vehicles;
WHEREAS, California residents interested in saving a life through living kidney donation may visit www.LivingDonationCalifornia.org;

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REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Gina Gonzalez, Director of Economic Development and Legislative Affairs Date: March 24, 2026
Subject: Business in Action Monthly Spotlight - Pacific Freedom Marine Group Recommendation
Recognize Pacific Freedom Marine Group as the City of Lake Elsinore’s Business in Action Monthly Spotlight for March 2026.

Background
The City of Lake Elsinore’s Business in Action Monthly Spotlight Program recognizes exemplary local businesses that contribute to the city’s economic vitality, community engagement, and overall quality of life. Pacific Freedom Marine Group is a Lake Elsinore–based boat dealership that has become a trusted partner for boating and action sports enthusiasts throughout the region.

Serving customers across Lake Elsinore and the greater Southern California area, the company plays an important role in supporting the city’s reputation as a destination for outdoor recreation and an active lifestyle centered around the lake and surrounding natural amenities.

Discussion
As a boat dealership serving the Lake Elsinore community, Pacific Freedom Marine Group helps residents, families, and water recreation enthusiasts access high-quality boats designed for a variety of activities, including wakeboarding, waterskiing, and other action sports. The dealership offers a selection of new and pre-owned boats and provides customer guidance to help buyers select the right vessel for fishing, family outings, and high-energy water sports on local waterways.

With Lake Elsinore being one of Southern California’s few natural lakes open to public boating, Pacific Freedom Marine Group plays an important role in supporting the local boating and action March 2026 Business Spotlight

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sports community. By connecting residents with boats suited for both recreational and performance-based water activities, the dealership helps more people enjoy the lake and the outdoor lifestyle that makes Lake Elsinore unique.

Pacific Freedom Marine Group’s commitment to customer service, product knowledge, and community relationships reflects Lake Elsinore’s values of professionalism, integrity, and community partnership. Through its work serving boat owners and action sports enthusiasts, the company contributes to the city’s recreation-focused economy and strengthens Lake Elsinore’s identity as the action sports capital of the world.

Fiscal Impact
No fiscal impact associated with this recognition.

Attachments
None.

Economic Development

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REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Candice Alvarez, MMC, City Clerk
Date: March 24, 2026
Subject: Minutes of the Regular City Council Meeting of March 10, 2026 Recommendation
Approve the Minutes
Attachments
Attachment 1 – Draft Minutes
City of Lake Elsinore Meeting Date:

City Council Meeting March 10, 2026
Minutes - Draft
Meeting Time:

Closed Session: 5:00 P.M.

Mayor Magee Open Session: 7:00 P.M.

Mayor Pro Tem Sheridan
Council Member Tisdale Cultural Center
Council Member Manos 183 N. Main Street
Council Member Carroll Lake Elsinore, CA 92530

1. CALL TO ORDER
The Regular Meeting of the City Council was called to order at 5:00 p.m.

2. ROLL CALL

Present: 4 - Council Members Manos and Carroll; Mayor Pro Tem Sheridan; and Mayor Magee

Absent: 1 - Council Member Tisdale

3. PUBLIC COMMENTS ON CLOSED SESSION ITEMS
There were no speakers.

4. CLOSED SESSION – 5:00 P.M.

4.1 CONFERENCE WITH LABOR NEGOTIATOR (Gov’t Code Section 54957.6) City negotiators: City Manager Jason Simpson; Assistant City Manager Shannon Buckley, Special Counsel Nate Kowalski
Employee organization: Lake Elsinore Chapter of Laborer’s International Union of North America, Local 777

5. RECESS
The City Council recessed into Closed Session at 5:01 p.m.

6. RECONVENE/CALL TO ORDER - 7:00 P.M.

The Regular Meeting of the City Council reconvened and the Regular Meeting of the Successor Agency was called to order at 7:00 p.m.

City Council Minutes - Draft March 10, 2026
City of Lake Elsinore Page 2

7. PLEDGE OF ALLEGIANCE
Mayor Magee led the Pledge of Allegiance.

8. ROLL CALL

Present: 4 - Council/Agency Members Manos and Carroll; Mayor Pro Tem/Vice Chair Sheridan; and Mayor/Chair Magee

Absent: 1 - Council/Agency Members Tisdale

9. CLOSED SESSION REPORT
City Attorney Leibold reported that one item was discussed; however, no reportable action was taken.

10. PRESENTATIONS/CEREMONIALS

10.1 CalFire 2025 Fourth Quarter Statistical Update
Chief Reed presented the update.

11. PUBLIC COMMENTS - NON-AGENDIZED ITEMS - 1 MINUTE
Douglas Norfolk was called to speak.

Kimberly Davidson was called to speak.

Renee Leach was called to speak.

Jason Devor was called to speak.

12. CITY COUNCIL CONSENT CALENDAR
Moved by Mayor Pro Tem Sheridan, Seconded by Council Member Manos to approve the City Council Consent Calendar with Agenda Item Nos. 12.13 and 12.17 being removed for discussion. The motion carried by the following vote:

Yes (4: Council Members Manos and Carroll; Mayor Pro Tem Sheridan; and Mayor Magee
Absent (1): Council Member Tisdale
Carried (4 to 0)

12.1 Minutes of the Regular City Council Meeting of February 24, 2026 Approve the Minutes.

This item was approved on the City Council Consent Calendar.

City Council Minutes - Draft March 10, 2026
City of Lake Elsinore Page 3

12.2 CC Warrant Report Dated February 09, 2026, to February 15, 2026 Receive and file.

This item was approved on the City Council Consent Calendar.

12.3 CC Warrant Report Dated February 16, 2026, to February 22, 2026 Receive and file.

This item was approved on the City Council Consent Calendar.

12.4 Second Reading of an Ordinance Approving Zone Change No. 2021-02 Changing the Zoning Designation from General Commercial (C-2) to Limited Manufacturing (M-1) for the Collier Commercial Properties Located at APNs 377-190-002, 377-190-003, and 377-190-004
Adopt by title only and waive further reading of AN ORDINANCE OF THE CITY

COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, AN ORDINANCE

OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING ZONE CHANGE NO. 2021-02 CHANGING THE ZONING
DESIGNATION FROM GENERAL COMMERCIAL (C-2) TO LIMITED
MANUFACTURING (M-1) FOR THE COLLIER COMMERCIAL PROPERTIES LOCATED AT APNS 377-190-002, 377-190-003, AND 377-190-004.

This item was approved on the City Council Consent Calendar.

12.5 Second Reading of Ordinances to Amend Development Agreements for Three Existing Cannabis Businesses to Revise Community Benefit Fees for Hyperwolf, The Nugg Hubb, and Roots 2 Harvest

1. Adopt by title only and waive further reading of AN ORDINANCE OF THE CITY

COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING DEVELOPMENT AGREEMENT AMENDMENT (DA-2025-07) FOR
HYPERWOLF LOCATED AT 571 CRANE STREET, UNITS D, E, AND F (APN:
377-410-034, 377-410-031, AND 377-410-020);

2. Adopt by title only and waive further reading of AN ORDINANCE OF THE CITY

COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING DEVELOPMENT AGREEMENT AMENDMENT (DA-2025-10) FOR ROOTS 2 HARVEST LOCATED AT 29370 HUNCO WAY (APN: 377-120-032); and

3. Adopt by title only and waive further reading of AN ORDINANCE OF THE CITY

COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING DEVELOPMENT AGREEMENT AMENDMENT (DA-2025-11) FOR THE
NUGG HUBB LOCATED AT 570 CENTRAL AVENUE SUITE D-1 (APN: 377- 410-037.

This item was approved on the City Council Consent Calendar.

City Council Minutes - Draft March 10, 2026
City of Lake Elsinore Page 4

12.6 Second Reading of an Ordinance Amending Chapter 16.83 of the Lake Elsinore Municipal Code to Establish Construction Cost Index Adjustments to the Western Riverside County TUMF Program
Adopt by title only and waive further reading of AN ORDINANCE OF THE CITY

COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, AMENDING CHAPTER 16.83 OF THE LAKE ELSINORE MUNICIPAL CODE TO ESTABLISH

CONSTRUCTION COST INDEX ADJUSTMENTS TO THE WESTERN

RIVERSIDE COUNTY TRANSPORTATION UNIFORM MITIGATION FEE (TUMF) PROGRAM.

This item was approved on the City Council Consent Calendar.

12.7 Resolution of Consideration of Change Proceedings for Community Facilities District No. 2025-1 of the City of Lake Elsinore (Canyon Hills Heights)
Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE

ELSINORE, CALIFORNIA, ACTING AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 2025-1 OF THE CITY OF LAKE

ELSINORE (CANYON HILLS HEIGHTS), DECLARING ITS INTENTION TO

CONSIDER AN AMENDMENT TO THE RATE AND METHOD OF
APPORTIONMENT OF SPECIAL TAX.

This item was approved on the City Council Consent Calendar.

12.8 Annexation No. 29 Into Community Facilities District No. 2015-2 (Maintenance Services) for Tentative Tract Map (TTM) 34249 (Canyon Hills Heights)
Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE

ELSINORE CALIFORNIA, DECLARING ITS INTENTION TO ANNEX
TERRITORY INTO COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) OF THE CITY OF LAKE ELSINORE, ADOPTING A MAP OF THE AREA TO BE PROPOSED (ANNEXATION NO. 29) AND
AUTHORIZING THE LEVY OF SPECIAL TAXES THEREIN.

This item was approved on the City Council Consent Calendar.

12.9 Amendment No. 1 to the Agreement with Semper Patrol, Inc. for Security Services at the New City Hall Project (CIP Project No. Z20006) Approve and authorize the City Manager to execute Amendment No. 1 to the Contractor Services Agreement with Semper Patrol, Inc. for the New City Hall Project (CIP Project No. Z20006) for an additional amount of $100,000, not to exceed a total amount of
$219,808.00, for site security services in such final form as approved by the City Attorney.

This item was approved on the City Council Consent Calendar.

City Council Minutes - Draft March 10, 2026
City of Lake Elsinore Page 5

12.10 Professional Services Agreement with Engineering Resources of Southern California, Inc. (ERSC) for the Storm Water Pollution Prevention Plan and Monitoring for the Library Project (CIP Project No. Z20003) Approve and authorize the City Manager to execute a Professional Services Agreement with Engineering Resources of Southern California, Inc. (ERSC) for the Storm Water Pollution Prevention Plan and Monitoring for the Library Project (CIP Project No. Z20003) in an amount not to exceed $38,865.00 in such final form as approved by the City Attorney and authorize the City Manager to execute change orders not to exceed a 10% contingency of $3,886.00 for uncertainties and adjustments.

This item was approved on the City Council Consent Calendar.

12.11 Change Order No. 1 to the Public Works Construction Agreement with Endresen Development, Inc. for the Library Site Retaining Wall for the New City Library Project (CIP Project No. Z20003)
Approve and authorize the City Manager to execute Change Order No.1 to the Public Works Construction Agreement with Endresen Development, Inc. in an amount not to exceed $199,000.00 for the Library Site Retaining Wall for the New City Library Project (CIP Project No. Z20003).

This item was approved on the City Council Consent Calendar.

12.12 Change Order No. 2 to the Public Works Construction Agreement with Double Play Glass Company for Bid Set “D”, Exterior Window/Storefront & Glazing for the New City Hall Project (CIP Project No. Z20006) Approve and authorize the City Manager to execute Change Order No. 2 to the Public Works Construction Agreement with Double Play Glass Company for Bid Set “D”, Exterior Window/Storefront & Glazing, on the New City Hall Project (CIP Project No. Z20006) in an amount not to exceed $580,000.00.

This item was approved on the City Council Consent Calendar.

12.13 Amended and Restated Agreement with the Lake Elsinore Valley Chamber of Commerce to Refocus to Business Retention & Expansion Services Approve and authorize the City Manager to execute an Amended and Restated Agreement with the Lake Elsinore Valley Chamber of Commerce for an amount not to exceed $162,000 annually, refocusing contracted services from general economic development activities to a structured Business Retention & Expansion (BRE) program with performance-based deliverables and measurable outcomes, subject to any minor modifications as approved by the City Attorney.

This item was removed from the City Council Consent Calendar for discussion.

City Council Minutes - Draft March 10, 2026
City of Lake Elsinore Page 6

12.14 Memorandum of Understanding (MOU) with the Lake Elsinore Downtown Merchant Association
Approve and authorize the City Manager to execute a Memorandum of Understanding
(MOU) with the Lake Elsinore Downtown Merchant Association (DMA) to formalize a collaborative partnership supporting Downtown Main Street initiatives, programming, and economic vitality.

This item was approved on the City Council Consent Calendar.

12.15 First Amendment to Right of Entry Agreement and License (City Properties Adjacent to Jack’s Bar-B-Q)
Approve and authorize the City Manager to execute the First Amendment to the Right of Entry Agreement and License with Jack’s Bar-B-Q, LLC updating the terms for the use of City-owned property adjacent to Jack’s Bar-B-Q.

This item was approved on the City Council Consent Calendar.

12.16 Agreement with Cotter Construction, Inc. for the Installation of New Trash Enclosures
Approve and authorize the City Manager to execute a Contractor Services Agreement with Cotter Construction, Inc. for the installation of the new trash enclosures at the Neighborhood Center and Lakepoint Park in an amount not to exceed $85,000 in such final form as approved by the City Attorney and authorize the City Manager to execute change orders not to exceed a 10% contingency of $8,500 for uncertainties and adjustments, and authorize the City Clerk to record the Notice of Completion once the work is complete and the improvements are accepted.

This item was approved on the City Council Consent Calendar.

12.17 Recreation Master Plan Update and Adoption
Adopt the City of Lake Elsinore Recreation Department Master Plan, incorporating the requested revisions.

This item was removed from the City Council Consent Calendar for discussion.

City Council Minutes - Draft March 10, 2026
City of Lake Elsinore Page 7

ITEMS REMOVED FROM THE CITY COUNCIL CONSENT CALENDAR FOR DISCUSSION

Jason Devor was called to speak.

Moved by Mayor Pro Tem Sheridan, Seconded by Council Member Manos to approve staff’s recommendation. The motion carried by the following vote:

Yes (4): Council Members Manos and Carroll; Mayor Pro Tem Sheridan; and Mayor Magee
Absent (1): Council Member Tisdale
Carried (4 to 0)

12.17 Recreation Master Plan Update and Adoption
Adopt the City of Lake Elsinore Recreation Department Master Plan, incorporating the requested revisions.

Moved by Mayor Pro Tem Sheridan, Seconded by Council Member Manos to approve staff’s recommendation. The motion carried by the following vote:

Yes (4): Council Members Manos and Carroll; Mayor Pro Tem Sheridan; and Mayor Magee
Absent (1): Council Member Tisdale
Carried (4 to 0)
City Council Minutes - Draft March 10, 2026
City of Lake Elsinore Page 8

13. SUCCESSOR AGENCY CONSENT CALENDAR
Moved by Agency Member Manos, Seconded by Agency Member Carroll to approve the Successor Agency Consent Calendar. The motion carried by the following vote:

Yes (4): Agency Members Manos and Carroll; Vice Chair Sheridan; and Chair Magee
Absent (1): Agency Member Tisdale
Carried (4 to 0)

13.1 Minutes of the Regular Successor Agency Meeting of February 24, 2026 Approve the Minutes.

This item was approved on the Successor Agency Consent Calendar.

13.2 SA Warrant Report Dated February 09, 2026, to February 15, 2026 Receive and file.

This item was approved on the Successor Agency Consent Calendar.

13.3 SA Warrant Report Dated February 16, 2026, to February 22, 2026 Receive and file.

This item was approved on the Successor Agency Consent Calendar.

14. PUBLIC HEARINGS

14.1 Request to Amend Central Tree Collective, Inc.’s Development Agreement to Revise the Community Benefit Fee

1. Find that the proposed project is exempt from the California Environmental Quality Act (CEQA) pursuant to CEQA Guidelines Section 15301 (Existing Facilities); and

2. Introduce by title only and waive further reading of AN ORDINANCE OF THE

CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA,
APPROVING THE DEVELOPMENT AGREEMENT AMENDMENT (DA-2025- 13) FOR CENTRAL TREE COLLECTIVE INC., LOCATED AT 18532
PASADENA STREET (APN: 377-430-023).

The Public Hearing was opened at 7:21 p.m.

Principal Planner Hyunh presented the staff report.

There were no speakers.

The Public Hearing was closed at 7:23 p.m.

City Council Minutes - Draft March 10, 2026
City of Lake Elsinore Page 9
Moved by Council Member Carroll, Seconded by Mayor Pro Tem Sheridan to approve staff’s recommendations. The motion carried by the following vote:

Yes (4): Council Members Manos and Carroll; Mayor Pro Tem Sheridan; and Mayor Magee
Absent (1): Council Member Tisdale
Carried (4 to 0)

14.2 Planning Application No. 2024-08 Walmart Gas Station Appeal No action is required by the City Council as the applicant/appellant withdrew the appeal request on March 5, 2026.

There were no speakers.

No action was taken on this item.

15. BUSINESS ITEMS

15.1 Ordinance Amending Chapter 8.44 of the Lake Elsinore Municipal Code Regarding Bowfishing on Lake Elsinore
Introduce by title only and waive further reading of AN ORDINANCE OF THE CITY

COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, AMENDING AND RESTATING CHAPTER 8.44 OF THE LAKE ELSINORE MUNICIPAL CODE REGARDING BOWFISHING ON LAKE ELSINORE.

Recreation Director Skinner presented the staff report.

Douglas Norfolk was called to speak.

Moved by Council Member Manos, Seconded by Council Member Carroll to introduce the Ordinance. The motion carried by the following vote:

Yes (4): Council Members Manos and Carroll; Mayor Pro Tem Sheridan; and Mayor Magee
Absent (1): Council Member Tisdale
Carried (4 to 0)

15.2 Compensation for Members of the City Council
Introduce by title only and waive further reading AN ORDINANCE OF THE CITY

COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, AMENDING LAKE ELSINORE MUNICIPAL CODE (LEMC) SECTION 2.08.020 FOR THE PURPOSE OF INCREASING CITY COUNCIL COMPENSATION TO $1,680 PER MONTH.

City Council Minutes - Draft March 10, 2026
City of Lake Elsinore Page 10
City Attorney Leibold requested that this item be continued off-calendar.

There were no speakers.

Moved by Council Member Manos, Seconded by Mayor Pro Tem Sheridan to continue this item off-calendar. The motion carried by the following vote:

Yes (4): Council Members Manos and Carroll; Mayor Pro Tem Sheridan; and Mayor Magee
Absent (1): Council Member Tisdale
Carried (4 to 0)

16. PUBLIC COMMENTS - NON-AGENDIZED ITEMS - 3 MINUTES
Tina Breese was called to speak.

17. CITY MANAGER COMMENTS
City Manager Simpson had no comments.

18. CITY ATTORNEY COMMENTS
City Attorney Leibold had no comments.

19. CITY COUNCIL COMMENTS/REPORTS ON MEETINGS ATTENDED
Council Member Carroll shared photos from Lake Elsinore Little League's Opening Day; shared Temescal Canyon High School's Engineering Academy; and invited the community to attend and participate in the Bunny Trunk Hop from 10:00 a.m. to 1:00 p.m. on April 4, 2026 in Downtown and the Color Run on the morning of April 11, 2026 at the Lake Elsinore Levee.

Council Member Manos announced that March is Arts & Culture Month in Riverside County.

Mayor Pro Tem Sheridan reported on his attendance at the Riverside Transit Agency Board of Directors meeting on February 26, 2026; invited the community to attend the Lake Elsinore Historical Society's fourth Ruth Atkins Speaker Series event at 7:00 p.m. on March 25, 2026 in the Cultural Center; shared his attendance at the Islamic Society of Corona Norco Interfaith Iftar on February 22, 2026, Menifee Union School District Annual State of the District on February 24, 2026, ONT Field, new home of the MiLB's Ontario Tower Buzzers, on February 27, 2026, and Riverside County State of Education Address on March 4, 2026; reported on the Downtown Merchants Association meeting on March 5, 2026; and invited the community to participate in the COPS for Kids Golf Classic on May 1, 2026 at the Glen Ivy Golf Club and Hit Fore Homes Golf Classic on June 15, 2026 at Bear Creek Golf Club.

City Council Minutes - Draft March 10, 2026
City of Lake Elsinore Page 11
Mayor Magee invited the community to participate in the Larry Minor Memorial West Coast Shootout March 27-29, 2026; announced the grand reopening of The Wreck; and wished all residents a Happy St. Patrick's Day.

20. ADJOURNMENT
The Lake Elsinore City Council adjourned at 8:07 p.m. to the next Regular meeting of Tuesday, March 24, 2026 in the Cultural Center located at 183 N. Main Street. Closed Session will commence at 5:00 p.m. or such later time as noticed on the Agenda, and the regular Open Session business meeting will commence at 7:00 p.m.

Candice Alvarez, MMC
City Clerk

Page 1 of 1 ends

Recommendation
Receive and file.

Discussion
The Warrant Report lists all general checks issued since the prior Warrant Report Attachments
Attachment 1 – City Warrant Summary
Attachment 2 – City Warrant List
FEBRUARY 23, 2026
TO MARCH 01, 2026

CITY OF LAKE ELSINORE CITY WARRANT SUMMARY
FUND NO. FUND DESCRIPTION TOTAL
100 GENERAL 3,605,923.39 $
103 THE ANCHOR 40,769.94
110 GAS TAX 12,178.61
130 LIGHTING, LANDSCAPE, MAINTENANCE DIST - CITYWIDE 27,149.18 135 LIGHTING, LANDSCAPE, MAINTENANCE DIST - NO. 1 511.84 180 LAUNCH POINTE 61,168.68
300 INSURANCE SERVICE (11,080.73)
305 INFORMATION SYSTEMS SERVICE 36,610.18
310 SUPPORT SERVICE 2,114.85
315 FLEET SERVICE 12,300.91
320 FACILITIES SERVICE 22,873.20
500 CAPITAL IMPROVEMENT PLAN 1,594,151.96
620 COST RECOVERY TRUST DEPOSITS 23,026.00
GRAND TOTAL 5,427,698.01 $
Attachment 1 1 of 1
FEBRUARY 23, 2026
TO MARCH 01, 2026

CITY OF LAKE ELSINORE CITY WARRANT LIST
WARRANT NO. VENDOR NAME AMOUNT
APA26001546 ARIEL SUPPLY INC 105.43 $
APA26001547 AZTECA CLEANING SERVICES LLC 8,742.08
APA26001548 CALIFORNIA BUILDING OFFICIALS 355.00
APA26001549 CED LAGUNA 20,479.13
APA26001550 CHARLES ABBOTT ASSOCIATES, INC. 16,093.89
APA26001551 CITY NET 40,769.94
APA26001552 COLLINS COMPANY 176.81
APA26001553 DISCOUNT HAULING & CLEANUP SERVICE 6,390.00 APA26001554 FRONTIER CALIFORNIA - INTERNET 969.76
APA26001555 FRONTIER CALIFORNIA, INC. 79.63
APA26001556 GOLDSTAR ASPHALT PRODUCTS 2,314.19
APA26001557 GREAT AMERICA FINANCIAL SERVICES 2,114.85
APA26001558 HAZZARD BACKFLOW, INC. 3,080.00
APA26001559 HEMET FENCE CORP 4,200.00
APA26001560 INTERSTATE STRIPING, INC. 2,679.00
APA26001561 KELLEN'S BAIT 207.30
APA26001562 LIUNA LOCAL 777 744.00
APA26001563 LSA ASSOCIATES, INC. 22,558.00
APA26001564 MARK THOMAS & COMPANY, INC. 12,645.00
APA26001565 MOTOPORT USA 4,022.65
APA26001566 PLACEWORKS, INC 125.00
APA26001567 RIVERSIDE ASSESSOR-COUNTY CLERK-RECORDER 20.00 APA26001568 RIVERSIDE COUNTY OFFICE OF ECONOMIC DEVELOPMENT 4,300.00 APA26001569 RIVERSIDE COUNTY TRANSPORTATION & LAND MANAGEMENT 5,068.18 APA26001570 SAS CONSTRUCTION 1,200,705.00
APA26001571 SHRED-IT USA, LLC 84.00
APA26001572 SOUTHERN CALIFORNIA EDISON CO. 565.59
APA26001573 STAUFFER LAWN EQUIPMENT 122.23
APA26001574 STORYLAND STUDIOS DBA PLAINJOE STUDIOS 87.78 APA26001575 TRB AND ASSOCIATES, INC. 39,434.41
APA26001576 URBAN RESTORATION GROUP US, INC. 1,385.02
APA26001577 VULCAN MATERIALS COMPANY 411.50
APA26001578 WILLDAN 810.00
11025 BARROZO, ANTHONY 503.50
11026 BASUBAS, EDGARDO 1,913.79
11027 BEAR SAVER 18,570.84
11028 BLOCK, DIANE 1,169.00
11029 BOBO, LAWRENCE 1,169.00
11030 BOONE, ROBERT 1,169.00
11031 BRADY, ROBERT A. 1,163.88
11032 CASTANEDA, FRANCISCO 319.29
Attachment 2 1 OF 4
FEBRUARY 23, 2026
TO MARCH 01, 2026

CITY OF LAKE ELSINORE CITY WARRANT LIST
WARRANT NO. VENDOR NAME AMOUNT
11033 CHADD, DANIEL 2,658.58
11034 CHIPMAN, ROBIN 1,913.79
11035 DAVIS, CLAUDIA 1,169.00
11036 DAVIS, RITA 800.58
11037 DOUGLAS, JOSE A. 1,776.10
11038 EAKINS, CATHERINE 755.91
11039 ELKINS, MARIAN C. 503.50
11040 ESPINOZA, GUILLERMO PEREZ 551.66
11041 FAZZIO, JON 194.83
11042 FERGUSON, DAVID 1,935.31
11043 FOSTER, MAUREEN 551.66
11044 GIRON, DIANA 807.05
11045 GOMEZ, GUADALUPE 2,357.53
11046 GONZALES, RAMON 800.58
11047 GORDON, CAROL 188.16
11048 GULBRANSEN, ARLINE 319.29
11049 HANSEN, VI M. 319.29
11050 HOFFARTH, GARY 551.66
11051 HOUTZ, WILLIAM M 1,163.88
11052 JECTER, MICHELE 1,169.00
11053 KILROY, PAT 1,169.00
11054 LEON, CHARLES KIM 503.50
11055 LEPPER, LUCIUS 503.50
11056 MACHOTT, RICHARD J. 1,169.00
11057 MAGEE, KIMBERLY 503.50
11058 MILLER, CORDIE 800.58
11059 MOLENDYK, RONALD 1,169.00
11060 NORTH, EDWARD L. 551.66
11061 ODONNELL, RAYMOND 503.50
11062 PAYNE, WILLIAM 981.40
11063 PEREZ, SHAR-MARIE 1,776.10
11064 PORCHE, DANA 551.66
11065 PREISENDANZ, ROLFE 1,169.00
11066 RAMIREZ, FRANCES 800.58
11067 REID, SUSAN 1,169.00
11068 RUSSELL, LAWRENCE 1,169.00
11069 SANTA CRUZ, MARY 1,169.00
11070 SAPP, DAVID 1,033.14
11071 SOLORZANO, LEONEL 1,776.10
11072 STORAASLI, PEGGY 503.50
11073 TAYLOR, GRANT 800.58
11074 TEYLER, KENNETH 194.83
Attachment 2 2 OF 4
FEBRUARY 23, 2026
TO MARCH 01, 2026

CITY OF LAKE ELSINORE CITY WARRANT LIST
WARRANT NO. VENDOR NAME AMOUNT
11075 THOMPSON, RITA 1,913.79
11076 TURK, JILL 503.50
11077 UNSWORTH, NOLA 1,248.29
11078 WAITE, DENNIS 1,169.00
11079 WATENPAUGH, RICHARD 503.50
11080 WILKIE, RAE 194.83
11081 YATES, GRANT 2,701.62
11082 AK SECURITY ALARM LLC 17,376.69
11083 AMAZON BUSINESS 3,700.09
11084 AMERICAN MATERIAL COMPANY 473.90
11085 GABRIELLE V. DENNY 1,165.00
11086 HDR ENGINEERING, INC. 26,674.57
11087 METROCELL CONSTRUCTION, INC. 302,366.53
11088 RIVERSIDE COUNTY FIRE DEPARTMENT 1,444,062.21
11089 RIVERSIDE COUNTY SHERIFF'S, ACCOUNTING & FINANCE 1,453,774.02 11090 RIVERSIDE COUNTY SHERIFF'S, ACCOUNTING & FINANCE 153.74 11091 RUTAN & TUCKER, LLP 79.00
11092 SEARLE CREATIVE GROUP LLC 3,060.00
11093 SEMPER PATROL, INC 14,976.00
11094 TC SPORTS MANAGEMENT, LLC 27,733.00
11095 WEST COAST ARBORISTS, INC. 11,182.00
11096 WKE, INC. 1,940.13
11097 WKE, INC. 9,692.00
11098 YESCO SIGNS LLC 1,994.60
11099 YUNEX, LLC 7,570.50
144031 MCDANIELS, DELORES 503.50
144032 CALIFORNIA JPIA 25.00
144033 CALIFORNIA JPIA 10.00
144034 CR&R, INC. 5,445.87
144035 CR&R, INC. 4,998.95
144036 EVMWD 15,635.98
DFT260573 FRONTIER CALIFORNIA - INTERNET 822.20
DFT260583 FRONTIER CALIFORNIA - INTERNET 490.98
DFT260588 CALIFORNIA, DEPT OF TAX AND FEE ADMINISTRATION 4,072.25 DFT260593 COLONIAL LIFE 1,737.02
DFT260594 FRANCHISE TAX BOARD 25,794.30
DFT260595 INTERNAL REVENUE SERVICE 198.50
DFT260596 INTERNAL REVENUE SERVICE 122,392.45
DFT260597 LEGAL SHIELD 108.65
DFT260598 CHARTER COMMUNICATIONS 1,035.00
DFT260599 CHARTER COMMUNICATIONS 550.00
DFT260600 MISSION SQUARE RETIREMENT 450.77
Attachment 2 3 OF 4
FEBRUARY 23, 2026
TO MARCH 01, 2026

CITY OF LAKE ELSINORE CITY WARRANT LIST
WARRANT NO. VENDOR NAME AMOUNT
DFT260601 CHARTER COMMUNICATIONS 241.97
DFT260602 CHARTER COMMUNICATIONS 189.98
DFT260603 CHARTER COMMUNICATIONS 475.00
DFT260604 CHARTER COMMUNICATIONS 885.00
DFT260605 CHARTER COMMUNICATIONS 45.81
DFT260606 CHARTER COMMUNICATIONS 475.00
DFT260607 MISSION SQUARE RETIREMENT 10,300.80
DFT260608 NATIONWIDE TRUST COMPANY, FSB 2,094.00
DFT260609 PAYCHEX OF NEW YORK, LLC 2,257.96
DFT260610 RIVERSIDE COUNTY SHERIFF'S OFFICE 926.50
DFT260611 STATE DISBURSEMENT UNIT 245.53
DFT260612 STATE DISBURSEMENT UNIT 134.30
DFT260613 TASC 11,803.34
DFT260615 CALPERS 77,025.75
DFT260616 CALPERS 251.36
DFT260622 CALIFORNIA DEPARTMENT OF FISH AND WILDLIFE 35.09 DFT260623 FRONTIER CALIFORNIA - INTERNET 505.11
PR02122026 NET PAYROLL 331,047.42
GRAND TOTAL 5,427,698.01 $
Attachment 2 4 OF 4

Page 1 of 1 ends

Discussion
The Warrant Report lists all general checks issued since the prior Warrant Report.

Attachments
Attachment 1 – City Warrant Summary
Attachment 2 – City Warrant List
MARCH 02, 2026
TO MARCH 08, 2026

CITY OF LAKE ELSINORE CITY WARRANT SUMMARY
FUND NO. FUND DESCRIPTION TOTAL
100 GENERAL 455,362.99 $
103 THE ANCHOR 21,857.14
106 AFFORDABLE HOUSING 3,804.00
110 GAS TAX 1,278.90
116 CITY HALL/PUBLIC WORKS FACILITIES DIF 809.00
117 COMMUNITY CENTER FACILITIES DIF 545.00
118 LAKESIDE FACILITIES DIF 779.00
119 ANIMAL SHELTER FACILITIES DIF 348.00
130 LIGHTING, LANDSCAPE, MAINTENANCE DIST - CITYWIDE 61,367.28 135 LIGHTING, LANDSCAPE, MAINTENANCE DIST - NO. 1 14,798.26 155 NATIONAL POLLUTANT DISCHARGE ELIMINATION SYSTEM 596.52 180 LAUNCH POINTE 60,545.01
205 TRAFFIC IMPACT FEE 1,369.00
221 QUIMBY ACT 66477 - PARK C.I.P. 1,600.00
231 LIBRARY FACILITIES DIF 150.00
232 FIRE PROTECTION FACILITIES DIF 751.00
300 INSURANCE SERVICE 3,880.22
305 INFORMATION SYSTEMS SERVICE 131,944.79
310 SUPPORT SERVICE 3,113.62
315 FLEET SERVICE 21,574.67
320 FACILITIES SERVICE 20,990.76
330 CFD 2015-2S MAINTENANCE SERVICES 11,628.25
331 CFD 2006-1 IA-CC SUMMERLY IMPROVEMENT 835.13
332 CFD 2006-1 IA-B SUMMERLY IMPROVEMENT 835.13
333 CFD 2015-4 TERRACINA IMPROVEMENT 835.13
334 CFD 2015-5 TRIESTE IMPROVEMENT 813.33
336 CFD 2006-1 IA-FF SUMMERLY IMPROVEMENT 813.33
337 CFD 2016-2 CANYON HILLS IMPROVEMENT 789.64
338 CFD 2006-1 IA-JJ SUMMERLY IMPROVEMENT 813.33
339 CFD 2006-1 IA-KK SUMMERLY IMPROVEMENT 835.13
340 CFD 2006-1 IA-EE SUMMERLY IMPROVEMENT 813.33
342 CFD 2007-5S RED KITE SERVICES 596.52
343 CFD 2006-2S VISCAYA SERVICES 596.52
344 CFD 2005-2S ALBERHILL RANCH SERVICES 596.52
345 CFD 2003-2 IA-D CANYON HILLS IMPROVEMENT 1,648.47
347 CFD 2006-1 IA-A SUMMERLY IMPROVEMENT 1,431.65
350 CFD 98-1 SUMMERHILL IMPROVEMENT 835.13
351 CFD 2006-1 IA-II SUMMERLY IMPROVEMENT 835.13
355 RAD 2021-1 CANYON HILLS IMPROVEMENT 2,279.85
357 CFD 2003-2 IA-A CANYON HILLS IMPROVEMENT 1,073.74
358 CFD 2007-4S MAKENNA SERVICES 596.52
359 CFD 2021-1 IA-2 TUSCANY VALLEY & CREST IMPROVEMENT 715.28 Attachment 1 1 of 2
MARCH 02, 2026
TO MARCH 08, 2026

CITY OF LAKE ELSINORE CITY WARRANT SUMMARY
FUND NO. FUND DESCRIPTION TOTAL
361 CFD 2022-2 LAKESHORE IMPROVEMENT 694.44
362 CFD 2006-8S RUNNING DEER ESTATES SERVICES 596.52
363 CFD 2023-1 LAKESIDE IMPROVEMENT 694.44
364 CFD 2023-2 COASTAL MISSION TRAIL IMPROVEMENT 707.30 366 CFD 2005-6 CITY CENTER TOWNHOMES IMPROVEMENT 596.52 367 CFD 2006-1S SUMMERLY SERVICES 596.52
368 CFD 2006-2 VISCAYA IMPROVEMENT 596.52
369 CFD 2004-3 IA-1 ROSETTA CANYON IMPROVEMENT 835.13
370 CFD 2006-1 IA-HH SUMMERLY IMPROVEMENT 835.13
371 CFD 2005-1 SERENITY IMPROVEMENT 835.13
372 CFD 2005-2 IA-A ALBERHILL RANCH IMPROVEMENT 835.13
373 CFD 2005-5S WASSON CANYON SERVICES 596.52
374 CFD 2005-4 LAKEVIEW VILLAS IMPROVEMENT 298.26
375 CFD 2006-4 ROSETTA HILLS IMPROVEMENT 2,298.26
376 CFD 2006-3 LA STRADA IMPROVEMENT 596.52
377 CFD 2006-6 TESSARA IMPROVEMENT 357.91
378 CFD 2006-8 RUNNING DEER ESTATES IMPROVEMENT 789.64
379 CFD 2022-1 ALBERHILL IMPROVEMENT 694.44
380 CFD 2015-4S TERRACINA SERVICES 607.56
381 CFD 2025-1 CANYON HILLS HEIGHTS IMPROVEMENT 12,500.00 384 CFD 2003-2 IA-B CANYON HILLS IMPROVEMENT 3,676.64
385 CFD 2004-3 IA-2 ROSETTA CANYON IMPROVEMENT 835.13
386 CFD 2007-4 MAKENNA IMPROVEMENT 789.64
387 CFD 2007-5 RED KITE IMPROVEMENT 789.64
390 CFD 2003-2 IA-C CANYON HILLS IMPROVEMENT 2,147.48
394 CFD 2005-5 WASSON CANYON IMPROVEMENT 596.52
395 CFD 2018-1 WASSON CANYON II IMPROVEMENT 564.03
396 CFD 2019-2 NICHOLS RANCH IMPROVEMENT 802.15
397 CFD 2019-1 WESTLAKE IMPROVEMENT 802.15
398 CFD 2021-1 IA-1 TUSCANY VALLEY & CREST IMPROVEMENT 715.28 500 CAPITAL IMPROVEMENT PLAN 648,423.91
617 HOUSING 8,165.86
620 COST RECOVERY TRUST DEPOSITS 5,822.29
631 DESTRATIFICATION EQUIPMENT REPLACEMENT 5,953.67
650 CFD 2003-1S LAW,FIRE, PARAMEDIC SERVICES 835.13
651 CFD 2006-5S PARK, OPEN SPACE, STORM DRAIN SERVICES 596.52 652 GAS TAX 596.52
653 CFD 2009-1S PARK,OPEN SPACE,STREET LIGHT SERVICES 596.52 655 CFD 2015-1S LAW, FIRE, PARAMEDIC SERVICES 5,948.95
GRAND TOTAL 1,552,902.14 $
Attachment 1 2 of 2
MARCH 02, 2026
TO MARCH 08, 2026

CITY OF LAKE ELSINORE CITY WARRANT LIST
WARRANT NO. VENDOR NAME AMOUNT
APA26001579 AARON FORD OF LAKE ELSINORE 1,302.19 $
APA26001580 ACTION GAS & WELDING SUPPLY 187.55
APA26001581 ADVANCED HEATING AND AIR CONDITIONING 2,950.00 APA26001582 AMBER AIR CONDITIONING, INC. 7,148.88
APA26001583 AMERICAN LADY VETS, INC 14,260.80
APA26001584 AUTOZONE PARTS, INC. 206.63
APA26001585 AZTECA CLEANING SERVICES LLC 1,890.00
APA26001586 BERRYDUNN 1,812.00
APA26001587 CA PARK & RECREATION SOCIETY, INC. 150.00
APA26001588 CARDLOCK FUELS SYSTEM LLC 5,142.32
APA26001589 CED LAGUNA 9,214.15
APA26001590 CENTURY LINK 41.10
APA26001591 CHARTER COMMUNICATIONS 61.54
APA26001592 CITY NET 14,322.69
APA26001593 CONCENTRA 286.00
APA26001594 CORONA, MANUEL 447.79
APA26001595 COUNTY OF RIVERSIDE DEPT. OF ENVIRONMENTAL HEALTH 1,389.00 APA26001596 CR&R, INC. 498.00
APA26001597 CREATIVE INDUSTRIES MEDIA GROUP 3,515.00
APA26001598 DAVID EVANS AND ASSOCIATES, INC. 29,439.60
APA26001599 DAVID'S EQUIPMENT REPAIR 357.21
APA26001600 DOST ENGINEERING 18,132.00
APA26001601 DUSTIN THOMPSON PHOTOGRAPHY 4,625.00
APA26001602 ENSURITY MOBILE CORP. 1,044.00
APA26001603 ENVIROMINE, INC. 4,717.50
APA26001604 EXCEL LANDSCAPE, INC. 42,516.68
APA26001605 FEHR & PEERS 8,277.50
APA26001606 FRONTIER CALIFORNIA - INTERNET 156.36
APA26001607 FRONTIER CALIFORNIA, INC. 7,676.94
APA26001608 GREAT AMERICA FINANCIAL SERVICES 192.49
APA26001609 HANCOCK, LORENA 3,570.00
APA26001610 HAZZARD BACKFLOW, INC. 1,385.00
APA26001611 HELIX ENVIRONMENTAL PLANNING INC. 35,103.63 APA26001612 HEMET FENCE CORP 32,900.00
APA26001613 HUNSAKER & ASSOCIATES IRVINE, INC. 28,634.75 APA26001614 IMAGEN, INC. 1,683.90
APA26001615 INTERSTATE STRIPING, INC. 3,000.00
APA26001616 JOHNSON EQUIPMENT CO. 913.20
APA26001617 KELLEN'S BAIT 177.00
APA26001618 LAKE ELSINORE CENTRAL AUTO GLASS & TINTING 154.37 APA26001619 M & M AIR CONDITIONING INC 300.00
Attachment 2 1 OF 3
MARCH 02, 2026
TO MARCH 08, 2026

CITY OF LAKE ELSINORE CITY WARRANT LIST
WARRANT NO. VENDOR NAME AMOUNT
APA26001620 MIG 51,053.95
APA26001621 MOTOPORT USA 1,135.31
APA26001622 NFPA 450.00
APA26001623 NSIDEOUT 300.00
APA26001624 O'REILLY AUTO STORES INC/FIRST CALL 1,787.41 APA26001625 PACIFIC PRODUCTS & SERVICES LLC 868.48
APA26001626 PUBLIC SAFETY ENTERPRISE COMMUNICATION 730.56 APA26001627 PUBLIC SAFETY ENTERPRISE COMMUNICATION 1,217.60 APA26001628 QUICK CRETE PRODUCTS CORP. 19,136.92
APA26001629 RAPID FIRE SAFETY & SECURITY LLC 300.00
APA26001630 RP LANDSCAPE & IRRIGATION 1,171.93
APA26001631 SAFEGUARD BY FONTIS 695.03
APA26001632 SHRED-IT USA, LLC 85.60
APA26001633 SOUTHERN CALIFORNIA EDISON CO. 71,628.99
APA26001634 THE CENTRE FOR ORGANIZATION EFFECTIVENESS 3,015.00 APA26001635 TRANSTECH ENGINEERS, INC. 52,660.75
APA26001636 TYLER TECHNOLOGIES, INC. 79,637.10
APA26001637 UNIFIRST CORP 2,193.85
APA26001638 VALLEY-WIDE ELITE GYMNASTICS 1,832.25
APA26001639 WILLSCOT MOBILE MINI 1,707.14
11100 AK SECURITY ALARM LLC 27,160.36
11101 ALVAREZ ENTERPRISE SERVICES 11,180.51
11102 AMAZON BUSINESS 4,732.46
11103 AREA 63 PRODUCTIONS 7,500.00
11104 CLEARGOV, INC. 27,444.42
11105 CLEARGOV, INC. 13,659.09
11106 CM WASH EQUIPMENT 4,103.45
11107 COMMERCIAL DOOR COMPANY, INC. 58,350.00
11108 COST RECOVERY SYSTEMS, INC. 9,000.00
11109 DELONE, MARIA JAZMINE 1,125.00
11110 DENNIS JANDA, INC. 3,425.00
11111 DENNIS JANDA, INC. 280.00
11112 DENNIS JANDA, INC. 15,632.50
11113 ENDRESEN DEVELOPMENT, INC. 19,877.84
11114 ENDRESEN DEVELOPMENT, INC. 32,744.00
11115 ENDRESEN DEVELOPMENT, INC. 19,877.84
11116 ENDRESEN DEVELOPMENT, INC. 19,877.84
11117 ENDRESEN DEVELOPMENT, INC. 19,877.84
11118 ENDRESEN DEVELOPMENT, INC. 12,151.62
11119 ENDRESEN DEVELOPMENT, INC. 19,877.84
11120 FERGUSON 147.86
11121 FERGUSON 865.97
Attachment 2 2 OF 3
MARCH 02, 2026
TO MARCH 08, 2026

CITY OF LAKE ELSINORE CITY WARRANT LIST
WARRANT NO. VENDOR NAME AMOUNT
11122 HDR ENGINEERING, INC. 171,640.63
11123 HEFINGTON MARTIAL ARTS 281.25
11124 HI-WAY SAFETY, INC. 14,052.44
11125 INNOVATIVE DOCUMENT SOLUTIONS 2,921.13
11126 J & M LEYVA GENERAL ENGINEERING, INC 22,386.65
11127 KPA SERVICES, LLC 2,103.78
11128 LAKE ELSINORE TIRE & AUTO, INC. 3,855.81
11129 LEIBOLD, MCCLENDON & MANN, PC 61,034.30
11130 MICHAEL BAKER INTERNATIONAL, INC. 28,779.25
11131 MICHAEL BAKER INTERNATIONAL, INC. 4,339.75
11132 REGIONAL CONSERVATION AUTHORITY 6,356.00
11133 REGIONAL FIRST AID, INC. 957.46
11134 RENTERIA, YARABITH BUENFIL 1,012.50
11135 SEMPER PATROL, INC 240.00
11136 SKYLINE SAFETY AND SUPPLY, LLC 955.48
11137 SO CAL SANDBAGS,INC. 1,278.90
11138 SOBOBA BAND OF LUISENO INDIANS 3,001.50
11139 SPICER CONSULTING GROUP 80,731.78
11143 STAPLES ADVANTAGE 15.52
11144 THOMSON REUTERS - WEST PUBLISHING CORP. 565.61
11145 WEST COAST ARBORISTS, INC. 3,978.00
11146 WEST COAST SERVICES 1,325.00
11148 WILMINGTON TRUST, NATIONAL ASSOCIATION 2,000.00
144039 ACEVEDO, MIGUEL ANGEL 59.00
144040 AMERICAN ALLIANCE DRUG TESTING 20.00
144041 CEJA, LUIS 150.00
144042 DE SANTIAGO, RICK 199.66
144043 EVMWD 15,857.62
144047 GEORGE MCDONOUGH 460.00
144048 HUNG NGUYEN 12,741.38
144049 KERR, CHRISTIAN 59.00
DFT260589 DISH 154.22
DFT260638 CALPERS 199,106.44
GRAND TOTAL 1,552,902.14 $
Attachment 2 3 OF 3

Page 1 of 1 ends

Discussion
The Investment Report lists all funds invested for the City as the date shown on the report.

Fiscal Impact
No fiscal impact.

Attachments
Attachment 1 – Investment Report February 2026

CITY OF LAKE ELSINORE

INVESTMENT REPORT

BANK DEPOSITS OUTSTANDING BOOK

CASH ACCOUNTS BALANCE IN TRANSIT PAYMENTS BALANCE
Bank Accounts:

General Checking Account $ 1,560,056 $ 44,573 $ (29,362) $ 1,575,266 Cash On Hand:

Cashier Drawers #1 & #2 - - - 300
City of Lake Elsinore Petty Cash Fund - - - 2,000
Total Cash Accounts 1,560,056 44,573 (29,362) 1,577,566

INVESTMENTS
Local Agency Investment Funds 64,399,513 - - 64,399,513 CAMP Investments:

CAMP Pool Account 466,400 - - 466,400.34
U.S. Treasury Bond / Note 26,811,796 - - 26,811,795.92
Municipal Bond / Note 200,000 - - 200,000.00
Federal Agency Commercial Mortgage-Backed Security 7,791,483 - - 7,791,483.17 Federal Agency Bond / Note - - - -
Corporate Note 13,896,959 - - 13,896,959.07
Certificate of Deposit - - - -
Bank Note 525,525 - - 525,525.00
Asset-Backed Security 6,638,032 - - 6,638,031.93
Sub-total Investments 120,729,709 - - 120,729,709
Market Value Adjustment:

Unrealized Gain/(Loss) at 02/28/2026 1,266,728 - - 1,266,728 Total Investments 121,996,437 - - 121,996,437
Total Pooled Cash and Investments $ 123,556,493 $ 44,573 $ (29,362) $ 123,574,003 TOTAL POOLED CASH AND INVESTMENTS $ 123,574,003
I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the City Council on June 24, 2025. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures.

Jason P. Simpson March 9, 2026
City Manager Date

C I T Y O F L A K E E L S I N O R E

INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS
AS OF FEBRUARY 28, 2026

FUND NO FUND NAME AMOUNT
100 General $ 11,434,625
101 Supplemental Law Enforcement 8,333
102 Measure Z 15,494,503
106 Affordable Housing In Lieu 1,576,516
109 Road Maintenance and Rehabilitation (SB1) 1,621,161 110 State Gas Tax 1,086,054
112 Measure A 1,357,028
114 SB1186 CASP Education Program 92,126
115 Traffic Safety 4,943
116 City Hall-Public Works DIF 522,447
117 Community Center DIF 635,992
118 Lake Side Facility DIF 1,014,801
119 Animal Shelter DIF 24,461
121 T.R.I.P.-2014A 4,637
135 Lighting & Landscape Maintenance - Dist. No. 1 2,427,818 140 Geothermal 13,267
160 PEG Grant 1,763
202 La Strada RBBD 27,059
203 E.L.S.P. - S.T.I.F. 3,815,765
205 Traffic Impact Fee 619,060
211 Storm Drain C.I.P. 2,077,057
221 Quimby Park C.I.P. 35,191
231 Library C.I.P. 969,542
232 City Fire Protection 1,489,248
300 Insurance Service 1,418,305
305 Information Systems Service 3,453,967
310 Support Service 66,724
315 Fleet Service 996,034
320 Facilities Service 3,154,657
331 CFD 2006-1CC Summerly Improvement Area CC 66,251
332 CFD 2006-1 Improvement Area B, Summerly 35,360
333 CFD 2015-4 Terracina 679,953
334 CFD 2015-5 Trieste - Far West Industries 45,114
335 CFD 2003-2E Canyon Hills Improvement Area E 55,499
336 CFD 2006-1FF Summerly Improvement Area FF 43,137
337 CFD 2016-2 Canyon Hills 329,830
338 CFD 2006-1 IA-JJ Summerly Improvement Area 94,916
339 CFD 2006-1 IA-KK Summerly Improvement Area 60,709
340 CFD 2006-1 IA-EE Summerly Improvement Area 59,745
345 CFD 2003-2 Improvement Area D, Canyon Hills 692,524

C I T Y O F L A K E E L S I N O R E

POOLED CASH AND INVESTMENTS BY FUND
AS OF FEBRUARY 28, 2026

FUND NO FUND NAME AMOUNT

C I T Y O F L A K E E L S I N O R E

POOLED CASH AND INVESTMENTS BY FUND
AS OF FEBRUARY 28, 2026
346 CFD 2014-1 Southshore 65,652
347 CFD 2006-1 Improvement Area A, Summerly 74,064
350 CFD 98-1 Summerhill 501,214
351 CFD 2006-1 IA-II Summerly Improvement 106,441
354 CFD 90-2 Tuscany Hills 13,735
355 RAD 2021-1 Canyon Hills Improvement 473,001
357 CFD 2003-2 Canyon Hills Improvement Area 249,666
359 CFD 2021-1 IA-2 Tuscany Valley & Crest Improvement 6,295 361 CFD 2022-2 Lakeshore Improvement 5,224
364 CFD 2023-2 Coastal Mission Trail Improvement 5,846
366 CFD 2005-6 City Center Townhomes 123,547
368 CFD 2006-2 Viscaya 136,140
369 CFD 2004-3 Area 1 Rosetta Canyon Improvement Area 433,314 370 CFD 2006-1 IA-HH Summerly Improvement 80,485
371 CFD 2005-1 Serenity 146,687
372 CFD 2005-2 Alberhill Ranch Improvement Area 343,934 374 CFD 2005-4 Lakeview Villas 1,880
375 CFD 2006-4 Clurman 60,448
377 CFD 2006-6 Tessara 46,951
378 CFD 2006-8 Running Deer Estates 47,318
379 CFD 2022-1 Alberhill 171,937
384 CFD 2003-2 Area B Canyon Hills Improvement Area 519,961 385 CFD 2004-3 Area 2 Rosetta Canyon Improvement Area 352,798 386 CFD 2007-4 Mekenna Court 47,083
387 CFD 2007-5 Red Kite 37,998
388 CFD 2007-6 Holiday Inn Express 2,365
390 CFD 2003-2 Area C Canyon Hills Improvement Area 154,098 392 CFD 95-1 City Center 1,426
394 CFD 2005-5 (2012A) Wasson Canyon 117,093
396 CFD 2018-2 Nichols Ranch Improvement Area 100,254
397 CFD 2018-3 Village at Lakeshore 100,897
500 Capital Improvement Plan 5,360,620
540 Successor To RDA Diamond Stadium 608,407
603 Endowment Trust - Carl Graves 72,382
604 Endowment Trust - Korn Memorial 38,124
605 Public Improvement Trust 3,293,852
606 Mobile Source Air Polution Reduction 292,813
608 Trust Deposit & Pre Paid Expense 1,850,636
617 Successor Agency Housing 42,567,934
620 Cost Recovery System 6,925,530

FUND NO FUND NAME AMOUNT

C I T Y O F L A K E E L S I N O R E

POOLED CASH AND INVESTMENTS BY FUND
AS OF FEBRUARY 28, 2026
631 Lake Destratification Equipment Replacement 368,977 650 CFD 2003-1 Law & Fire Service 42,128
651 CFD 2006-5 Park & Open Space Service 205
653 CFD 2009-1 Parks & Lighting Service 3,559
655 CFD 2015-1s Law, Fire, Paramedic Services 14,961
Total Pooled Cash & Investments $ 123,574,003

MAXIMUM DIVERSIFICATION CURRENT

TYPES OF SECURITIES PERCENTAGE PERCENTAGE BALANCE
CAMP - Pooled Sweep Account Unlimited 0.39% $ 466,400
U.S. Treasury Bond / Note Unlimited 22.21% $ 26,811,796 Supra-National Agency Bond / Note 30% 0.00% $ -
Municipal Bond / Note Unlimited 0.17% $ 200,000
Federal Agency Collaterized Mortgage Obligation 40% 6.45% $ 7,791,483 Federal Agency Bond / Note Unlimited 0.00% (1) $ -
Banker's Acceptance 40.00% 0.00% $ -
Corporate Note (Includes Bank Note) 30% 11.95% $ 14,422,484 Commercial Paper 25% 0.00% $ -
Negotiable Certificates of Deposit 30% 0.00% $ -
Asset-Backed Security / Collaterized Mortgage 20% 5.50% $ 6,638,032 Repurchase Agreements Unlimited 0 $ -
Reverse Repurchase Agreements 10.00% 0.00% $ -
LAIF (Local Agency Investment Funds) $150 Million 53.34% (2) $ 64,399,513 Placement Service Deposits (PDS) 30% 0.00% $ -
TOTAL 100.00% $ 120,729,709
Note:
(1) No more than 40% in any one federal agency. See CAMP Portfolio Statement for listing of agencies. (2) Investment in LAIF may not exceed $75 million in each agency.

C I T Y O F L A K E E L S I N O R E

SUMMARY OF POLICY LIMITATIONS
FOR THE MONTH ENDING FEBRUARY 28, 2026
Local Agency Investment Fund
February 3.871
January 3.931
December 4.025
November 4.096
October 4.150
September 4.212
LAIF Apportionment Rate(2): 4.20
LAIF Earnings Ratio(2): 0.00011512010685708
LAIF Administrative Cost(1)*: 0.27
PMIA Average Life(1): 244
LAIF Fair Value Factor(1): 1.002181483
PMIA Daily(1): 3.97
PMIA Quarter to Date(1): 4.09
Treasuries

57.45%
Agencies

23.67%
Certificates of
Deposit/Bank Notes

9.52%
Time
Deposits

3.15%
Commercial
Paper

5.50%
Corporate
Bonds

0.56%
Loans

0.15%
Notes: The apportionment rate includes interest earned on the CalPERS Supplemental Pension Payment pursuant to Government Code 20825 (c)(1) .
*The percentage of administrative cost equals the total administrative cost divided by the quarterly interest earnings. The law provides that administrative costs are not to exceed 5% of quarterly EARNINGS of the fund. However, if the 13-week Daily Treasury Bill Rate on the last day of the fiscal year is below 1%, then administrative costs shall not exceed 8% of quarterly EARNINGS of the fund for the subsequent fiscal year.

Source:
(1) State of California, Office of the Treasurer
(2) State of California, Office of the Controller
PMIA Average Monthly
Effective Yields(1)
PMIA/LAIF Performance Report
as of 03/04/26
Daily rates are now available here. View PMIA Daily Rates Quarterly Performance
Quarter Ended 12/31/25
Chart does not include $882,000.00 in mortgages, which equates to 0.001%. Percentages may not total 100% due to rounding.

Pooled Money Investment Account
Monthly Portfolio Composition (1)
1/31/26
$170.9 billion
Yield Purchase Date Maturity Rate

3.871% Daily 24-Hour
Investment Beginning Balance Net Increase/(Decrease) Ending Balance Total Investments Held with
Local Agency Investment Fund: $ 53,649,513 $ 10,750,000 $ 64,399,513 Note:

Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained.

C I T Y O F L A K E E L S I N O R E

LOCAL AGENCY INVESTMENT FUND

TRANSACTION SUMMARY
FOR THE MONTH ENDING FEBRUARY 28, 2026
CAMP
Investment Portfolio

CITY OF LAKE ELSINORE

ACCOUNT STATEMENT
For the Month Ending
February 28, 2026
Customer Service
PO Box 11813
Harrisburg, PA 17108-1813
Contents
Cover/Disclosures
Summary Statement
Individual Accounts

CITY OF LAKE ELSINORE
Accounts included in Statement

LAKE ELSINORE - CITY FUNDS
Online Access www.camponline.com Customer Service 1-800-729-7665 Important Messages
CAMP will be closed on 04/03/2026 for Good Friday.

For the Month Ending February 28, 2026
Account Statement
Important Disclosures
Important Disclosures
365 and dividing the result by 7. The yields quoted should not be considered a representation of the yield of the fund in the future, since the yield is not fixed.

Average maturity represents the average maturity of all securities and investments of a portfolio, determined by multiplying the par or principal value of each security or investment by its maturity (days or years), summing the products, and dividing the sum by the total principal value of the portfolio. The stated maturity date of mortgage backed or callable securities are used in this statement. However the actual maturity of these securities could vary depending on the level or prepayments on the underlying mortgages or whether a callable security has or is still able to be called.

Monthly distribution yield represents the net change in the value of one share (normally $1.00 per share) resulting from all dividends declared during the month by a fund expressed as a percentage of the value of one share at the beginning of the month. This resulting net change is then annualized by multiplying it by 365 and dividing it by the number of calendar days in the month.

YTM at Cost The yield to maturity at cost is the expected rate of return, based on the original cost, the annual interest receipts, maturity value and the time period from purchase date to maturity, stated as a percentage, on an annualized basis.

YTM at Market The yield to maturity at market is the rate of return, based on the current market value, the annual interest receipts, maturity value and the time period remaining until maturity, stated as a percentage, on an annualized basis.

Managed Account A portfolio of investments managed discretely by PFMAM according to the client’s specific investment policy and requirements. The investments are directly owned by the client and held by the client’s custodian.

Unsettled Trade A trade which has been executed however the final consummation of the security transaction and payment has not yet taken place.

Please review the detail pages of this statement carefully. If you think your statement is wrong, missing account information, or if you need more information about a transaction, please contact PFMAM within 60 days of receipt. If you have other concerns or questions regarding your account, or to request an updated copy of PFMAM's current disclosure statement, please contact a member of your client management team at PFMAM Service Operations at the address below.

PFM Asset Management
Attn: Service Operations
213 Market Street
Harrisburg, PA 17101
NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE This statement is for general information purposes only and is not intended to provide specific advice or recommendations. PFM Asset Management ("PFMAM") is a division of U.S. Bancorp Asset Management, Inc. ("USBAM"), a SEC-registered investment adviser. USBAM is direct subsidiary of U.S. Bank National Association ("U.S. Bank") and an indirect subsidiary of U.S. Bancorp. U.S. Bank is not responsible for and does not guarantee the products, services or performance of PFMAM. PFMAM maintains a written disclosure statement of our background and business experience. If you would like to receive a copy of our current disclosure statement, please contact Service Operations at the address below.

Proxy Voting PFMAM does not normally receive proxies to vote on behalf of its clients.

However, it does on occasion receive consent requests. In the event a consent request is received the portfolio manager contacts the client and then proceeds according to their instructions. PFMAM’s Proxy Voting Policy is available upon request by contacting Service Operations at the address below.

Questions About an Account PFMAM’s monthly statement is intended to detail our investment advisory activity as well as the activity of any accounts held by clients in pools that are managed by PFMAM. The custodian bank maintains the control of assets and executes (i.e., settles) all investment transactions. The custodian statement is the official record of security and cash holdings and transactions. PFMAM recognizes that clients may use these reports to facilitate record keeping and that the custodian bank statement and the PFMAM statement should be reconciled and differences resolved.

Many custodians use a settlement date basis which may result in the need to reconcile due to a timing difference.

Account Control PFMAM does not have the authority to withdraw funds from or deposit funds to the custodian outside the scope of services provided by PFMAM. Our clients retain responsibility for their internal accounting policies; implementing and enforcing internal controls and generating ledger entries or otherwise recording transactions.

Market Value Generally, PFMAM’s market prices are derived from closing bid prices as of the last business day of the month as supplied by ICE Data Services. There may be differences in the values shown for investments due to accrued but uncollected income and the use of differing valuation sources and methods. Non-negotiable FDIC-insured bank certificates of deposit are priced at par. Although PFMAM believes the prices to be reliable, the values of the securities may not represent the prices at which the securities could have been bought or sold. Explanation of the valuation methods for a registered investment company or local government investment program is contained in the appropriate fund offering documentation or information statement.

Amortized Cost The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase date until the date of the report. Discount or premium with respect to short term securities (those with less than one year to maturity at time of issuance) is amortized on a straightline basis. Such discount or premium with respect to longer term securities is amortized using the constant yield basis.

Tax Reporting Cost data and realized gains / losses are provided for informational purposes only. Please review for accuracy and consult your tax advisor to determine the tax consequences of your security transactions. PFMAM does not report such information to the IRS or other taxing authorities and is not responsible for the accuracy of such information that may be required to be reported to federal, state or other taxing authorities.

Financial Situation In order to better serve you, PFMAM should be promptly notified of any material change in your investment objective or financial situation.

Callable Securities Securities subject to redemption prior to maturity may be redeemed in whole or in part before maturity, which could affect the yield represented.

Portfolio The securities in this portfolio, including shares of mutual funds, are not guaranteed or otherwise protected by PFMAM, the FDIC (except for certain non-negotiable certificates of deposit) or any government agency. Investment in securities involves risks, including the possible loss of the amount invested. Actual settlement values, accrued interest, and amortized cost amounts may vary for securities subject to an adjustable interest rate or subject to principal paydowns. Any changes to the values shown may be reflected within the next monthly statement’s beginning values.

Rating Information provided for ratings is based upon a good faith inquiry of selected sources, but its accuracy and completeness cannot be guaranteed.

Shares of some local government investment programs and TERM funds are distributed by representatives of USBAM's affiliate, U.S. Bancorp Investments, Inc. which is registered with the SEC as a broker/dealer and is a member of the Financial Industry Regulatory Authority (“FINRA”) and the Municipal Securities Rulemaking Board (“MSRB”). You may reach the FINRA by calling the FINRA Hotline at 1-800-289-9999 or at the FINRA website address
https://www.finra.org/investors/investor-contacts. A brochure describing the FINRA Regulation Public Disclosure Program is also available from FINRA upon request.

Key Terms and Definitions
Dividends on local government investment program funds consist of interest earned, plus any discount ratably amortized to the date of maturity, plus all realized gains and losses on the sale of securities prior to maturity, less ratable amortization of any premium and all accrued expenses to the fund. Dividends are accrued daily and may be paid either monthly or quarterly. The monthly earnings on this statement represent the estimated dividend accrued for the month for any program that distributes earnings on a quarterly basis. There is no guarantee that the estimated amount will be paid on the actual distribution date.

Current Yield is the net change, exclusive of capital changes and income other than investment income, in the value of a hypothetical fund account with a balance of one share over the seven-day base period including the statement date, expressed as a percentage of the value of one share (normally $1.00 per share) at the beginning of the seven-day period. This resulting net change in account value is then annualized by multiplying it by
Account Statement - Transaction Summary For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Opening Market Value
Purchases
Redemptions
Change in Value
Closing Market Value
133,287.76
2,676,667.88
(2,343,555.30)

0.00 $466,400.34
CAMP Pool
Unsettled Trades 0.00
Cash Dividends and Income 1,096.00
Opening Market Value
Purchases
Redemptions
Change in Value
Closing Market Value
57,043,610.50
1,788,286.07
(1,979,925.34)
262,253.12
$57,114,224.35
CAMP Managed Account
Unsettled Trades 0.00
Cash Dividends and Income 200,054.94
February 28, 2026 January 31, 2026
Asset Summary
CAMP Pool 466,400.34 133,287.76
CAMP Managed Account 57,114,224.35 57,043,610.50
Total $57,580,624.69 $57,176,898.26
Asset Allocation

0.81%
CAMP Pool

99.19%
CAMP Managed
Account
PFM Asset Management, a division of Page 1
U.S. Bancorp Asset Management, Inc.

Managed Account Summary Statement For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dividend
Closing Market Value
Redemptions
Purchases
Opening Market Value
Closing Market Value
Change in Current Value
Unsettled Trades
Principal Acquisitions
Principal Dispositions
Maturities/Calls
Opening Market Value
Closing Market Value
Opening Market Value
Account Total
Total Cash Basis Earnings
Plus Net Realized Gains/Losses
Less Purchased Interest Related to Interest/Coupons
Interest/Dividends/Coupons Received
Earnings Reconciliation (Cash Basis) - Managed Account
Dividends
Less Beginning Accrued Interest
Less Beginning Amortized Value of Securities
Less Cost of New Purchases
Plus Coupons/Dividends Received
Plus Proceeds of Maturities/Calls/Principal Payments
Plus Proceeds from Sales
Ending Accrued Interest
Ending Amortized Value of Securities
Earnings Reconciliation (Accrual Basis)
Reconciling Transactions
Net Cash Contribution
Security Purchases
Principal Payments
Coupon/Interest/Dividend Income
Sale Proceeds
Maturities/Calls
Cash Transactions Summary- Managed Account
$133,287.76
2,676,667.88
(2,343,555.30)
$466,400.34
1,096.00
$57,043,610.50
(104,900.24)
(1,875,025.10)
1,788,286.07

0.00 262,253.12
$57,114,224.35
$57,176,898.26
$57,580,624.69
99,487.29
(851.17)
101,418.82
$200,054.94

0.00 1,877,408.55
97,103.84
104,900.24
(1,789,137.24)
(290,275.39)

0.00 Managed Account Total
56,327,448.58 56,793,848.92
337,867.39
1,877,408.55
104,900.24
97,103.84
(1,789,137.24)
(56,458,537.63)
(267,226.75)

0.00 337,867.39
4,220,963.85
104,900.24
97,103.84
(4,465,805.12)
(56,591,825.39)
(267,226.75)
1,096.00
Total Accrual Basis Earnings $229,826.98 $230,922.98
Transaction Summary - Money Market Transaction Summary - Managed Account _______________________________________________ _______________________________________________ _____________________________________________________ Cash Balance
Closing Cash Balance $0.00
PFM Asset Management, a division of Page 2
U.S. Bancorp Asset Management, Inc.

Portfolio Summary and Statistics For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Account Summary
Description Par Value Market Value Percent
U.S. Treasury Bond / Note 27,625,000.00 27,453,440.31 47.68 Municipal Bond / Note 200,000.00 202,461.60 0.35
Federal Agency Commercial
Mortgage-Backed Security
7,914,789.61 8,026,595.55 13.94
Corporate Note 14,056,000.00 14,208,497.61 24.68
Bank Note 525,000.00 531,724.20 0.92
Asset-Backed Security 6,635,175.05 6,691,505.08 11.62
Managed Account Sub-Total 56,955,964.66 57,114,224.35 99.19% Accrued Interest 337,867.39
Total Portfolio 56,955,964.66 57,452,091.74
CAMP Pool 466,400.34 466,400.34 0.81
Total Investments 57,422,365.00 57,918,492.08 100.00%
Unsettled Trades 0.00 0.00
Sector Allocation

11.62%
ABS

0.92%
Bank Note

24.17%
Corporate Note

13.94%
Federal Agency
Commercial
Mortgage-Backed
Security

0.81%
Joint Powers
Authority

0.35%
Muni Bond / Note

0.51%
Priv Placement
Bond

47.68%
US TSY Bond / Note
0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years

2.44% 3.32%

8.63%

39.26%

35.51%

10.84%

0.00%
Maturity Distribution Characteristics
Yield to Maturity at Cost
Yield to Maturity at Market
Weighted Average Days to Maturity 1051

4.21%

3.61%
PFM Asset Management, a division of Page 3
U.S. Bancorp Asset Management, Inc.

Managed Account Issuer Summary For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Credit Quality (S&P Ratings)

4.44%
A

7.89%
A+

4.21%
A1.82%
AA

62.95%
AA+

4.25%
AA9.61%
AAA

0.81%
AAAm

0.71%
BBB+

3.31%
NR
Issuer Summary
Issuer of Holdings Percent
Market Value
Adobe Inc 385,010.63 0.67
Air Products and Chemicals Inc 347,788.04 0.60
Amazon.com Inc 579,225.10 1.01
American Express Co 1,403,950.40 2.44
Analog Devices Inc 409,063.60 0.71
Apple Inc 767,400.35 1.33
BA Credit Card Trust 605,642.99 1.05
Bank of America Corp 689,082.28 1.20
Bank of New York Mellon Corp 467,969.53 0.81
Bayerische Motoren Werke AG 172,909.63 0.30
Berkshire Hathaway Inc 468,474.93 0.81
BlackRock Inc 795,458.45 1.38
Bristol-Myers Squibb Co 212,015.33 0.37
CAMP Pool 466,400.34 0.81
Capital One Financial Corp 490,582.12 0.85
CarMax Inc 2,375.41 0.00
Caterpillar Inc 221,100.75 0.38
Charles Schwab Corp 298,320.30 0.52
Cisco Systems Inc 432,526.92 0.75
Citigroup Inc 1,343,538.35 2.33
Deere & Co 385,584.75 0.67
Discover Card Execution Note Trust 671,218.19 1.17
Federal Home Loan Mortgage Corp 7,517,681.93 13.06
Federal National Mortgage Association 508,913.62 0.88
Fifth Third Auto Trust 176,311.05 0.31
Ford Credit Auto Owner Trust 38,690.09 0.07
GM Financial Consumer Automobile Receiv 108,494.63 0.19 Harley-Davidson Inc 36,983.68 0.06
Home Depot Inc 386,185.12 0.67
Honda Auto Receivables Owner Trust 450,130.93 0.78
Honda Motor Co Ltd 405,636.40 0.70
Hyundai Auto Receivables Trust 165,425.04 0.29
PFM Asset Management, a division of Page 4
U.S. Bancorp Asset Management, Inc.

Managed Account Issuer Summary For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Issuer of Holdings Percent
Market Value
JPMorgan Chase & Co 407,973.11 0.71
Lockheed Martin Corp 60,811.32 0.11
Mars Inc 118,219.42 0.21
Mercedes-Benz Auto Receivables Trust 557,446.45 0.97
Microsoft Corp 747,567.75 1.30
Morgan Stanley 531,724.20 0.92
National Australia Bank Ltd 501,474.50 0.87
National Rural Utilities Cooperative Fi 347,673.20 0.60 Nissan Auto Receivables Owner Trust 18,659.80 0.03
Northern Trust Corp 579,940.98 1.01
Novartis AG 513,361.92 0.89
PACCAR Inc 409,702.80 0.71
Porsche Innovative Lease Owner 101,131.50 0.18
Shell PLC 579,578.73 1.01
State of California 202,461.60 0.35
State Street Corp 206,026.00 0.36
Target Corp 39,395.48 0.07
Texas Instruments Inc 86,395.70 0.15
TotalEnergies SE 580,152.00 1.01
Toyota Auto Receivables Owner Trust 204,018.34 0.35
Toyota Motor Corp 381,337.88 0.66
United States Treasury 27,453,440.31 47.68
UnitedHealth Group Inc 223,741.35 0.39
Verizon Master Trust 418,251.53 0.73
Wells Fargo & Co 407,806.40 0.71
WF Card Issuance Trust 492,241.54 0.85
Total $57,580,624.69 100.00%
PFM Asset Management, a division of Page 5
U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending February 28, 2026

US TREASURY N/B
DTD 11/15/2016 2.000% 11/15/2026
912828U24 75,000.00 AA+ Aa1 01/13/23 01/17/23 70,441.41 3.72 439.23 74,155.45 74,158.80

US TREASURY N/B
DTD 06/30/2021 1.250% 06/30/2028
91282CCH2 225,000.00 AA+ Aa1 07/01/24 07/03/24 198,641.60 4.49 466.16 209,030.74 214,338.83

US TREASURY N/B
DTD 06/30/2021 1.250% 06/30/2028
91282CCH2 700,000.00 AA+ Aa1 06/06/24 06/11/24 619,199.22 4.39 1,450.28 651,746.03 666,831.90

US TREASURY N/B
DTD 06/30/2021 1.250% 06/30/2028
91282CCH2 1,275,000.00 AA+ Aa1 09/04/24 09/06/24 1,169,364.26 3.59 2,641.57 1,208,684.05 1,214,586.68

US TREASURY N/B
DTD 06/30/2021 1.250% 06/30/2028
91282CCH2 1,300,000.00 AA+ Aa1 08/01/24 08/05/24 1,173,960.94 3.96 2,693.37 1,222,323.13 1,238,402.10

US TREASURY N/B
DTD 06/30/2021 1.250% 06/30/2028
91282CCH2 2,400,000.00 AA+ Aa1 10/01/24 10/07/24 2,211,468.75 3.51 4,972.38 2,279,208.80 2,286,280.80

US TREASURY N/B
DTD 01/02/2024 3.750% 12/31/2028
91282CJR3 1,200,000.00 AA+ Aa1 10/31/24 11/05/24 1,182,093.75 4.14 7,458.56 1,187,454.84 1,211,577.60

US TREASURY N/B
DTD 01/02/2024 3.750% 12/31/2028
91282CJR3 1,375,000.00 AA+ Aa1 01/02/25 01/07/25 1,344,653.32 4.36 8,546.27 1,352,876.09 1,388,266.00

US TREASURY N/B
DTD 01/02/2024 3.750% 12/31/2028
91282CJR3 1,475,000.00 AA+ Aa1 02/03/25 02/06/25 1,444,693.36 4.33 9,167.82 1,452,473.68 1,489,230.80

US TREASURY N/B
DTD 01/02/2024 3.750% 12/31/2028
91282CJR3 2,600,000.00 AA+ Aa1 12/03/24 12/06/24 2,565,773.44 4.10 16,160.22 2,575,569.94 2,625,084.80

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 600,000.00 AA+ Aa1 07/01/25 07/03/25 589,054.69 3.75 3,232.04 590,751.97 596,859.60

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 900,000.00 AA+ Aa1 04/01/25 04/04/25 878,414.06 3.87 4,848.07 882,739.78 895,289.40

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 900,000.00 AA+ Aa1 06/02/25 06/05/25 875,566.41 3.98 4,848.07 879,699.20 895,289.40

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 925,000.00 AA+ Aa1 08/01/25 08/05/25 902,236.33 3.94 4,982.73 905,341.36 920,158.55 PFM Asset Management, a division of Page 6
U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending February 28, 2026

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 1,500,000.00 AA+ Aa1 05/01/25 05/06/25 1,476,796.88 3.65 8,080.11 1,481,097.34 1,492,149.00

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 2,650,000.00 AA+ Aa1 03/03/25 03/06/25 2,565,117.19 4.06 14,274.86 2,583,218.56 2,636,129.90

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 3,900,000.00 AA+ Aa1 09/02/25 09/05/25 3,841,652.34 3.67 21,008.29 3,848,613.72 3,879,587.40

US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
91282CMG3 300,000.00 AA+ Aa1 11/04/25 11/07/25 306,820.31 3.66 1,021.41 306,355.38 308,625.00

US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
91282CMG3 900,000.00 AA+ Aa1 01/02/26 01/07/26 920,285.16 3.65 3,064.23 919,610.61 925,875.00

US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
91282CMG3 975,000.00 AA+ Aa1 10/01/25 10/06/25 997,242.19 3.67 3,319.58 995,337.01 1,003,031.25

US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
91282CMG3 1,450,000.00 AA+ Aa1 02/02/26 02/05/26 1,478,320.31 3.72 4,936.81 1,477,882.96 1,491,687.50 Security Type Sub-Total 27,625,000.00 26,811,795.92 3.89 127,612.06 27,084,170.64 27,453,440.31 Municipal Bond / Note
CA ST
DTD 03/15/2023 4.846% 03/01/2027
13063D3N6 200,000.00 AA- Aa2 03/09/23 03/15/23 200,000.00 4.85 4,846.00 200,000.00 202,461.60 Security Type Sub-Total 200,000.00 200,000.00 4.85 4,846.00 200,000.00 202,461.60 Federal Agency Commercial Mortgage-Backed Security
FHMS K058 A2
DTD 11/01/2016 2.653% 08/01/2026
3137BSP72 550,000.00 AA+ Aa1 04/06/23 04/12/23 526,839.84 3.98 1,215.96 546,677.77 546,306.20 FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
3137BTUM1 360,513.13 AA+ Aa1 05/19/23 05/24/23 349,416.09 4.29 1,005.53 358,189.88 358,817.63 FHMS K064 A2
DTD 05/01/2017 3.224% 03/01/2027
3137BXQY1 550,000.00 AA+ Aa1 08/16/23 08/18/23 518,804.69 4.94 1,477.67 540,764.07 546,707.70 PFM Asset Management, a division of Page 7
U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Federal Agency Commercial Mortgage-Backed Security
FHMS K065 A2
DTD 07/01/2017 3.243% 04/01/2027
3137F1G44 550,000.00 AA+ Aa1 06/08/23 06/13/23 527,033.20 4.42 1,486.38 543,169.36 546,572.40 FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
3137HBC69 376,048.29 AA+ Aa1 12/06/23 12/14/23 376,045.28 4.86 1,522.37 376,047.49 383,138.30 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 429,091.78 AA+ Aa1 07/19/23 07/27/23 429,081.08 4.78 1,708.14 429,086.73 432,524.94 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
3137HACX2 550,000.00 AA+ Aa1 07/13/23 07/20/23 555,493.40 4.59 2,208.71 552,581.12 561,695.75 FNA 2023-M6 A2
DTD 07/01/2023 4.181% 07/01/2028
3136BQDE6 504,136.42 AA+ Aa1 07/18/23 07/31/23 495,589.73 4.58 1,756.67 500,020.29 508,913.62 FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
3137HAQ74 500,000.00 AA+ Aa1 10/11/23 10/19/23 489,032.00 5.25 1,975.00 494,018.09 510,857.50 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
3137HAMH6 800,000.00 AA+ Aa1 09/07/23 09/14/23 788,165.60 4.99 3,100.00 793,675.56 816,425.60 FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
3137HAST4 375,000.00 AA+ Aa1 10/25/23 10/31/23 363,043.88 5.60 1,515.63 368,209.99 384,810.00 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
3137HAMS2 500,000.00 AA+ Aa1 09/20/23 09/28/23 494,023.50 5.07 2,000.00 496,679.89 511,623.00 FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
3137HB3D4 180,000.00 AA+ Aa1 11/14/23 11/21/23 179,479.62 5.14 760.35 179,703.18 185,809.68 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
3137HB3G7 275,000.00 AA+ Aa1 11/28/23 12/07/23 274,209.93 4.93 1,113.75 274,546.63 282,563.88 FHMS K514 A2
DTD 02/01/2024 4.572% 12/01/2028
3137HBLV4 290,000.00 AA+ Aa1 02/01/24 02/08/24 292,899.71 4.34 1,104.90 291,752.74 295,842.92 FHMS K524 A2
DTD 07/01/2024 4.720% 05/01/2029
3137HDV56 440,000.00 AA+ Aa1 07/16/24 07/25/24 442,702.04 4.58 1,730.67 441,906.03 452,474.00 FHMS K526 A2
DTD 08/01/2024 4.543% 07/01/2029
3137HDXL9 495,000.00 AA+ Aa1 08/07/24 08/15/24 499,630.23 4.33 1,873.99 498,294.14 507,254.72 PFM Asset Management, a division of Page 8
U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending February 28, 2026

UNITEDHEALTH GROUP INC (CALLABLE)
DTD 05/19/2021 1.150% 05/15/2026
91324PEC2 225,000.00 A+ A2 05/17/21 05/19/21 224,608.50 1.19 761.88 224,983.87 223,741.35

BMW US CAPITAL LLC (CALLABLE)
DTD 08/12/2021 1.250% 08/12/2026
05565EBW4 175,000.00 A A2 08/12/21 08/16/21 174,947.50 1.26 115.45 174,995.29 172,909.63

CATERPILLAR FINL SERVICE
DTD 01/10/2022 1.700% 01/08/2027
14913R2U0 225,000.00 A A2 01/11/22 01/13/22 223,863.75 1.81 563.13 224,805.67 221,100.75

TARGET CORP (CALLABLE)
DTD 01/24/2022 1.950% 01/15/2027
87612EBM7 40,000.00 A A2 01/19/22 01/24/22 39,932.00 1.99 99.67 39,988.08 39,395.48

BANK OF NY MELLON CORP (CALLABLE)
DTD 01/26/2022 2.050% 01/26/2027
06406RBA4 475,000.00 A Aa3 01/26/22 01/28/22 473,945.50 2.10 946.70 474,809.39 467,969.53

MICROSOFT CORP (CALLABLE)
DTD 02/06/2017 3.300% 02/06/2027
594918BY9 750,000.00 AAA Aaa 03/14/23 03/17/23 721,942.50 4.36 1,718.75 743,281.44 747,567.75

AMERICAN EXPRESS CO (CALLABLE)
DTD 03/04/2022 2.550% 03/04/2027
025816CS6 300,000.00 A- A2 01/13/23 01/18/23 277,203.00 4.59 3,761.25 294,431.15 296,635.80

BERKSHIRE HATHAWAY FIN (CALLABLE)
DTD 03/15/2022 2.300% 03/15/2027
084664CZ2 475,000.00 AA Aa2 03/15/22 03/17/22 466,089.00 2.70 5,037.64 473,146.43 468,474.93

CHARLES SCHWAB CORP (CALLABLE)
DTD 09/24/2021 3.300% 04/01/2027
808513BW4 300,000.00 A- A2 02/17/23 02/22/23 284,925.00 4.66 4,125.00 296,024.85 298,320.30

NATIONAL AUSTRALIA BK/NY
DTD 06/09/2022 3.905% 06/09/2027
63254ABE7 500,000.00 AA- Aa2 01/13/23 01/18/23 488,325.00 4.50 4,447.36 496,617.87 501,474.50

APPLE INC (CALLABLE)
DTD 09/12/2017 2.900% 09/12/2027
037833DB3 775,000.00 AA+ Aaa 01/19/23 01/23/23 741,062.75 3.94 10,550.76 763,796.03 767,400.35

TOYOTA MOTOR CREDIT CORP
DTD 01/12/2023 4.625% 01/12/2028
89236TKQ7 375,000.00 A+ A1 02/08/23 02/10/23 376,282.50 4.55 2,360.68 375,485.64 381,337.88 PFM Asset Management, a division of Page 9
U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending February 28, 2026

NATIONAL RURAL UTIL COOP (CALLABLE)
DTD 02/07/2018 3.400% 02/07/2028
637432NP6 350,000.00 A- A1 02/17/23 02/22/23 329,189.00 4.76 793.33 341,885.46 347,673.20

TEXAS INSTRUMENTS INC (CALLABLE)
DTD 11/18/2022 4.600% 02/15/2028
882508BV5 85,000.00 A+ Aa3 05/11/23 05/18/23 87,043.40 4.04 173.78 85,821.26 86,395.70

BRISTOL-MYERS SQUIBB CO (CALLABLE)
DTD 07/15/2020 3.900% 02/20/2028
110122DE5 211,000.00 A A2 03/09/23 03/13/23 201,583.07 4.93 251.44 207,242.77 212,015.33

LOCKHEED MARTIN CORP (CALLABLE)
DTD 05/25/2023 4.450% 05/15/2028
539830BZ1 60,000.00 A- A2 05/23/23 05/25/23 59,892.00 4.49 786.17 59,952.09 60,811.32

JOHN DEERE CAPITAL CORP
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 375,000.00 A A1 07/21/23 07/25/23 377,865.00 4.78 2,423.44 376,366.04 385,584.75

CITIBANK NA (CALLABLE)
DTD 09/29/2023 5.803% 09/29/2028
17325FBB3 750,000.00 A+ Aa3 10/02/23 10/04/23 746,280.00 5.92 18,376.17 747,943.42 785,490.75

AIR PRODUCTS & CHEMICALS (CALLABLE)
DTD 02/08/2024 4.600% 02/08/2029
009158BH8 340,000.00 A A2 02/06/24 02/08/24 339,547.80 4.63 999.22 339,722.10 347,788.04

CISCO SYSTEMS INC (CALLABLE)
DTD 02/26/2024 4.850% 02/26/2029
17275RBR2 420,000.00 AA- A1 02/21/24 02/26/24 419,853.00 4.86 282.92 419,908.80 432,526.92

BLACKROCK FUNDING INC (CALLABLE)
DTD 03/14/2024 4.700% 03/14/2029
09290DAA9 50,000.00 AA- Aa3 03/05/24 03/14/24 49,909.50 4.74 1,090.14 49,942.67 51,319.90

BLACKROCK FUNDING INC (CALLABLE)
DTD 03/14/2024 4.700% 03/14/2029
09290DAA9 725,000.00 AA- Aa3 03/06/24 03/14/24 725,355.25 4.69 15,807.01 725,227.29 744,138.55

ADOBE INC (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029
00724PAF6 170,000.00 A+ A1 04/02/24 04/04/24 169,775.60 4.83 3,332.00 169,855.19 174,538.15

ADOBE INC (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029
00724PAF6 205,000.00 A+ A1 04/01/24 04/04/24 204,694.55 4.83 4,018.00 204,802.68 210,472.48

WELLS FARGO & COMPANY (CALLABLE)
DTD 04/23/2025 4.970% 04/23/2029
95000U3T8 110,000.00 BBB+ A1 04/16/25 04/23/25 110,088.00 4.95 1,943.82 110,064.35 112,146.76

WELLS FARGO & COMPANY (CALLABLE)
DTD 04/23/2025 4.970% 04/23/2029
95000U3T8 290,000.00 BBB+ A1 04/15/25 04/23/25 290,000.00 4.97 5,124.62 290,000.00 295,659.64 PFM Asset Management, a division of Page 10
U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending February 28, 2026

BANK OF AMERICA CORP (CALLABLE)
DTD 05/09/2025 4.623% 05/09/2029
06051GMT3 600,000.00 A- A1 05/06/25 05/09/25 600,000.00 4.62 8,629.60 600,000.00 608,515.80

HOME DEPOT INC (CALLABLE)
DTD 06/25/2024 4.750% 06/25/2029
437076DC3 125,000.00 A A2 06/17/24 06/25/24 124,193.75 4.90 1,088.54 124,443.94 128,728.37

HOME DEPOT INC (CALLABLE)
DTD 06/25/2024 4.750% 06/25/2029
437076DC3 250,000.00 A A2 06/18/24 06/25/24 248,627.50 4.88 2,177.08 249,053.95 257,456.75

AMERICAN HONDA FINANCE
DTD 09/05/2024 4.400% 09/05/2029
02665WFQ9 400,000.00 A- A3 09/03/24 09/05/24 399,520.00 4.43 8,604.44 399,652.36 405,636.40

MARS INC (CALLABLE)
DTD 03/12/2025 4.800% 03/01/2030
571676AY1 115,000.00 A A2 03/05/25 03/12/25 114,875.80 4.83 2,760.00 114,897.78 118,219.42

STATE STREET CORP (CALLABLE)
DTD 04/24/2025 4.834% 04/24/2030
857477DB6 200,000.00 A Aa3 04/22/25 04/24/25 200,000.00 4.83 3,410.66 200,000.00 206,026.00

PACCAR FINANCIAL CORP
DTD 05/08/2025 4.550% 05/08/2030
69371RT71 400,000.00 A+ A1 05/05/25 05/08/25 399,380.00 4.59 5,712.78 399,472.37 409,702.80

ANALOG DEVICES INC (CALLABLE)
DTD 06/16/2025 4.500% 06/15/2030
032654BE4 400,000.00 A- A2 06/12/25 06/16/25 399,648.00 4.52 3,800.00 399,694.42 409,063.60

NOVARTIS CAPITAL CORP (CALLABLE)
DTD 11/05/2025 4.100% 11/05/2030
66989HAY4 510,000.00 AA- Aa3 11/03/25 11/05/25 508,470.00 4.17 6,737.67 508,561.59 513,361.92

SHELL FINANCE US INC (CALLABLE)
DTD 11/06/2025 4.125% 11/06/2030
822905AN5 125,000.00 A+ Aa2 11/03/25 11/06/25 124,520.00 4.21 1,647.14 124,548.25 125,995.38

SHELL FINANCE US INC (CALLABLE)
DTD 11/06/2025 4.125% 11/06/2030
822905AN5 450,000.00 A+ Aa2 11/04/25 11/06/25 449,136.00 4.17 5,929.69 449,186.93 453,583.35

NORTHERN TRUST CORP
DTD 11/19/2025 4.150% 11/19/2030
665859AY0 115,000.00 A+ A2 11/12/25 11/19/25 114,943.65 4.16 1,352.21 114,946.83 115,988.20

NORTHERN TRUST CORP
DTD 11/19/2025 4.150% 11/19/2030
665859AY0 460,000.00 A+ A2 11/13/25 11/19/25 459,443.40 4.18 5,408.83 459,473.37 463,952.78 AMAZON.COM INC (CALLABLE)
DTD 11/20/2025 4.100% 11/20/2030
023135CT1 575,000.00 AA A1 11/17/25 11/20/25 574,384.75 4.12 6,614.10 574,416.22 579,225.10 PFM Asset Management, a division of Page 11
U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending February 28, 2026

TOTALENERGI CAP USA LLC (CALLABLE)
DTD 01/13/2026 4.248% 01/13/2031
89158TAA7 240,000.00 A+ Aa3 01/06/26 01/13/26 240,000.00 4.25 1,359.36 240,000.00 242,150.40

TOTALENERGI CAP USA LLC (CALLABLE)
DTD 01/13/2026 4.248% 01/13/2031
89158TAA7 335,000.00 A+ Aa3 01/07/26 01/13/26 335,613.05 4.21 1,897.44 335,598.13 338,001.60 Security Type Sub-Total 14,056,000.00 13,896,959.07 4.29 157,019.87 14,005,045.97 14,208,497.61 Bank Note

MORGAN STANLEY BANK NA (CALLABLE)
DTD 07/19/2024 4.968% 07/14/2028
61690U8E3 525,000.00 A+ Aa3 07/18/24 07/19/24 525,525.00 4.94 3,405.15 525,250.57 531,724.20 Security Type Sub-Total 525,000.00 525,525.00 4.94 3,405.15 525,250.57 531,724.20 Asset-Backed Security
CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
14318MAD1 2,375.10 AAA NR 07/12/22 07/20/22 2,375.04 3.97 4.19 2,375.09 2,375.41 NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
65480JAC4 18,645.22 AAA Aaa 09/20/22 09/28/22 18,641.36 4.46 36.96 18,644.21 18,659.80 GMCAR 2022-4 A3
DTD 10/12/2022 4.820% 08/16/2027
36265QAD8 17,782.06 AAA NR 10/04/22 10/12/22 17,779.14 4.82 35.71 17,781.18 17,797.58 TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
891940AC2 63,227.49 AAA NR 01/24/23 01/30/23 63,227.46 4.63 130.11 63,227.48 63,352.36 HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
41285JAD0 36,895.28 NR Aaa 02/13/23 02/23/23 36,891.56 5.05 82.81 36,893.89 36,983.68 FORDO 2023-A A3
DTD 03/31/2023 4.650% 02/15/2028
344928AD8 38,601.27 AAA NR 03/28/23 03/31/23 38,597.24 4.65 79.78 38,599.65 38,690.09 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
43815QAC1 136,482.04 AAA NR 08/15/23 08/22/23 136,453.90 5.42 266.63 136,469.73 137,384.59 DCENT 2023-A1 A
DTD 04/11/2023 4.310% 03/15/2028
254683CY9 320,000.00 NR Aaa 04/04/23 04/11/23 319,981.44 4.31 612.98 319,992.32 320,061.44 PFM Asset Management, a division of Page 12
U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Asset-Backed Security
BACCT 2023-A1 A1
DTD 06/16/2023 4.790% 05/15/2028
05522RDG0 170,000.00 AAA NR 06/08/23 06/16/23 169,961.51 4.79 361.91 169,982.72 170,343.23 AMXCA 2023-1 A
DTD 06/14/2023 4.870% 05/15/2028
02582JJZ4 190,000.00 AAA NR 06/07/23 06/14/23 189,983.15 4.87 411.24 189,992.45 190,398.43 COMET 2023-A1 A
DTD 05/24/2023 4.420% 05/15/2028
14041NGD7 490,000.00 AAA NR 05/17/23 05/24/23 489,887.64 4.42 962.58 489,950.19 490,582.12 DCENT 2023-A2 A
DTD 06/28/2023 4.930% 06/15/2028
254683CZ6 350,000.00 AAA Aaa 06/21/23 06/28/23 349,952.72 4.93 766.89 349,978.20 351,156.75 HAROT 2023-4 A3
DTD 11/08/2023 5.670% 06/21/2028
438123AC5 51,211.62 NR Aaa 11/01/23 11/08/23 51,202.60 5.67 80.66 51,206.88 51,756.16 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
31680EAD3 174,954.97 AAA Aaa 08/15/23 08/23/23 174,944.13 5.53 430.00 174,949.62 176,311.05 CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
161571HT4 405,000.00 AAA NR 09/07/23 09/15/23 404,887.73 5.17 928.80 404,939.41 407,973.11 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
02582JKD1 410,000.00 AAA NR 09/12/23 09/19/23 409,981.67 5.23 953.02 409,990.27 413,227.93 PILOT 2025-1A A3
DTD 05/21/2025 4.610% 10/20/2028
73329KAD8 100,000.00 AAA NR 05/14/25 05/21/25 99,989.29 4.61 140.86 99,991.82 101,131.50 BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
05522RDH8 180,000.00 NR Aaa 12/07/23 12/14/23 179,975.83 4.98 398.40 179,986.36 181,535.76 AMXCA 2024-1 A
DTD 04/23/2024 5.230% 04/16/2029
02582JKH2 495,000.00 AAA NR 04/16/24 04/23/24 494,898.53 5.23 1,150.60 494,898.53 503,688.24 HAROT 2025-2 A3
DTD 05/08/2025 4.150% 10/15/2029
437921AD1 115,000.00 NR Aaa 04/29/25 05/08/25 114,987.15 4.15 212.11 114,989.57 115,693.22 BAAT 2025-1A A3
DTD 05/12/2025 4.350% 11/20/2029
05594BAD8 80,000.00 NR Aaa 05/06/25 05/12/25 79,994.48 4.35 106.33 79,995.61 80,566.48 MBART 2025-1 A3
DTD 01/23/2025 4.780% 12/17/2029
58773DAD6 550,000.00 NR Aaa 04/08/25 04/09/25 553,673.83 4.62 1,168.44 553,034.39 557,446.45 PFM Asset Management, a division of Page 13
U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Asset-Backed Security
VZMT 2025-3 A1A
DTD 03/31/2025 4.510% 03/20/2030
92348KDY6 415,000.00 NR Aaa 03/25/25 03/31/25 414,982.16 4.51 571.89 414,986.19 418,251.53 GMCAR 2025-2 A3
DTD 05/14/2025 4.280% 04/16/2030
362549AD9 90,000.00 AAA Aaa 05/06/25 05/14/25 89,986.75 4.28 160.50 89,988.79 90,697.05 BACCT 2025-A1 A
DTD 06/12/2025 4.310% 05/15/2030
05522RDK1 250,000.00 AAA NR 06/05/25 06/12/25 249,999.05 4.31 478.89 250,000.00 253,764.00 WFCIT 2025-A1 A
DTD 06/10/2025 4.340% 05/15/2030
92970QAJ4 485,000.00 AAA NR 06/03/25 06/10/25 484,991.95 4.34 935.51 484,994.42 492,241.54 CCCIT 2025-A1 A
DTD 06/26/2025 4.300% 06/21/2030
17305EHA6 550,000.00 AAA Aaa 06/18/25 06/26/25 549,850.79 4.31 4,598.61 549,869.46 558,047.60 TAOT 2026-A A3
DTD 01/21/2026 3.860% 09/16/2030
89240KAD0 140,000.00 AAA Aaa 01/13/26 01/21/26 139,988.07 3.86 240.18 139,988.35 140,665.98 HAROT 2026-1 A3
DTD 02/18/2026 3.780% 09/23/2030
43815CAD0 145,000.00 NR Aaa 02/10/26 02/18/26 144,976.90 3.78 197.93 144,977.56 145,296.96 HART 2026-A A3
DTD 02/18/2026 3.790% 02/18/2031
448981AD2 165,000.00 AAA NR 02/10/26 02/18/26 164,988.86 3.79 225.82 164,989.56 165,425.04 Security Type Sub-Total 6,635,175.05 6,638,031.93 4.66 16,730.34 6,637,663.90 6,691,505.08 Managed Account Sub-Total 56,955,964.66 55,863,795.09 4.21 337,867.39 56,327,448.58 57,114,224.35 Joint Powers Authority
CAMP Pool 466,400.34 AAAm NR 466,400.34 0.00 466,400.34 466,400.34 Liquid Sub-Total 466,400.34 466,400.34 0.00 466,400.34 466,400.34 $57,422,365.00 $56,330,195.43 4.21% $337,867.39 $56,793,848.92 $57,580,624.69 $57,918,492.08
$337,867.39
Total Investments
Accrued Interest
Securities Sub-Total
PFM Asset Management, a division of Page 14
U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
U.S. Treasury Bond / Note
US TREASURY N/B 912828U24 75,000.00 JPMorgan 98.88 74,158.80 3,717.39 3.35 DTD 11/15/2016 2.000% 11/15/2026

0.70 3.62
US TREASURY N/B 91282CCH2 225,000.00 BMO 95.26 214,338.83 15,697.23 5,308.09 DTD 06/30/2021 1.250% 06/30/2028

2.26 3.38
US TREASURY N/B 91282CCH2 700,000.00 BMO 95.26 666,831.90 47,632.68 15,085.87 DTD 06/30/2021 1.250% 06/30/2028

2.26 3.38
US TREASURY N/B 91282CCH2 1,275,000.00 MorganSt 95.26 1,214,586.68 45,222.42 5,902.63 DTD 06/30/2021 1.250% 06/30/2028

2.26 3.38
US TREASURY N/B 91282CCH2 1,300,000.00 BMO 95.26 1,238,402.10 64,441.16 16,078.97 DTD 06/30/2021 1.250% 06/30/2028

2.26 3.38
US TREASURY N/B 91282CCH2 2,400,000.00 BMO 95.26 2,286,280.80 74,812.05 7,072.00 DTD 06/30/2021 1.250% 06/30/2028

2.26 3.38
US TREASURY N/B 91282CJR3 1,200,000.00 Citigrou 100.96 1,211,577.60 29,483.85 24,122.76 DTD 01/02/2024 3.750% 12/31/2028

2.66 3.39
US TREASURY N/B 91282CJR3 1,375,000.00 MorganSt 100.96 1,388,266.00 43,612.68 35,389.91 DTD 01/02/2024 3.750% 12/31/2028

2.66 3.39
US TREASURY N/B 91282CJR3 1,475,000.00 JPMorgan 100.96 1,489,230.80 44,537.44 36,757.12 DTD 01/02/2024 3.750% 12/31/2028

2.66 3.39
US TREASURY N/B 91282CJR3 2,600,000.00 MorganSt 100.96 2,625,084.80 59,311.36 49,514.86 DTD 01/02/2024 3.750% 12/31/2028

2.66 3.39
US TREASURY N/B 91282CEV9 600,000.00 Citigrou 99.48 596,859.60 7,804.91 6,107.63 DTD 06/30/2022 3.250% 06/30/2029

3.12 3.42
US TREASURY N/B 91282CEV9 900,000.00 BMO 99.48 895,289.40 16,875.34 12,549.62 DTD 06/30/2022 3.250% 06/30/2029

3.12 3.42
US TREASURY N/B 91282CEV9 900,000.00 BMO 99.48 895,289.40 19,722.99 15,590.20 DTD 06/30/2022 3.250% 06/30/2029

3.12 3.42
US TREASURY N/B 91282CEV9 925,000.00 Citigrou 99.48 920,158.55 17,922.22 14,817.19 DTD 06/30/2022 3.250% 06/30/2029

3.12 3.42
US TREASURY N/B 91282CEV9 1,500,000.00 Citigrou 99.48 1,492,149.00 15,352.12 11,051.66 DTD 06/30/2022 3.250% 06/30/2029

3.12 3.42
US TREASURY N/B 91282CEV9 2,650,000.00 MorganSt 99.48 2,636,129.90 71,012.71 52,911.34 DTD 06/30/2022 3.250% 06/30/2029

3.12 3.42
US TREASURY N/B 91282CEV9 3,900,000.00 RBC Capi 99.48 3,879,587.40 37,935.06 30,973.68 DTD 06/30/2022 3.250% 06/30/2029

3.12 3.42
PFM Asset Management, a division of Page 15
U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
U.S. Treasury Bond / Note
US TREASURY N/B 91282CMG3 300,000.00 Citigrou 102.88 308,625.00 1,804.69 2,269.62 DTD 01/31/2025 4.250% 01/31/2030

3.59 3.46
US TREASURY N/B 91282CMG3 900,000.00 Citigrou 102.88 925,875.00 5,589.84 6,264.39 DTD 01/31/2025 4.250% 01/31/2030

3.59 3.46
US TREASURY N/B 91282CMG3 975,000.00 HSBC 102.88 1,003,031.25 5,789.06 7,694.24 DTD 01/31/2025 4.250% 01/31/2030

3.59 3.46
US TREASURY N/B 91282CMG3 1,450,000.00 Citigrou 102.88 1,491,687.50 13,367.19 13,804.54 DTD 01/31/2025 4.250% 01/31/2030

3.59 3.46
Security Type Sub-Total 27,625,000.00 27,453,440.31 641,644.39 369,269.67 2.89 3.41 Municipal Bond / Note
CA ST 13063D3N6 200,000.00 WellsFar 101.23 202,461.60 2,461.60 2,461.60 DTD 03/15/2023 4.846% 03/01/2027

0.97 3.58
Security Type Sub-Total 200,000.00 202,461.60 2,461.60 2,461.60 0.97 3.58 Federal Agency Commercial Mortgage-Backed Security
FHMS K058 A2 3137BSP72 550,000.00 BREAN 99.33 546,306.20 19,466.36 (371.57) DTD 11/01/2016 2.653% 08/01/2026

0.44 3.81
FHMS K061 A2 3137BTUM1 360,513.13 Citigrou 99.53 358,817.63 9,401.54 627.75 DTD 01/01/2017 3.347% 11/01/2026

0.65 3.76
FHMS K064 A2 3137BXQY1 550,000.00 MorganSt 99.40 546,707.70 27,903.01 5,943.63 DTD 05/01/2017 3.224% 03/01/2027

0.88 3.69
FHMS K065 A2 3137F1G44 550,000.00 Citigrou 99.38 546,572.40 19,539.20 3,403.04 DTD 07/01/2017 3.243% 04/01/2027

1.03 3.66
FHMS KJ48 A1 3137HBC69 376,048.29 JPMorgan 101.89 383,138.30 7,093.02 7,090.81 DTD 12/01/2023 4.858% 05/01/2028

1.85 3.71
FHMS KJ46 A1 3137HAD45 429,091.78 JPMorgan 100.80 432,524.94 3,443.86 3,438.21 DTD 07/01/2023 4.777% 06/01/2028

1.27 3.94
FHMS K505 A2 3137HACX2 550,000.00 JPMorgan 102.13 561,695.75 6,202.35 9,114.63 DTD 07/01/2023 4.819% 06/01/2028

2.06 3.68
FNA 2023-M6 A2 3136BQDE6 504,136.42 JPMorgan 100.95 508,913.62 13,323.89 8,893.33 DTD 07/01/2023 4.181% 07/01/2028

2.20 3.66
PFM Asset Management, a division of Page 16
U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Federal Agency Commercial Mortgage-Backed Security
FHMS K508 A2 3137HAQ74 500,000.00 BMO 102.17 510,857.50 21,825.50 16,839.41 DTD 10/01/2023 4.740% 08/01/2028

2.24 3.68
FHMS K506 A2 3137HAMH6 800,000.00 WellsFar 102.05 816,425.60 28,260.00 22,750.04 DTD 09/01/2023 4.650% 08/01/2028

2.22 3.63
FHMS K509 A2 3137HAST4 375,000.00 MorganSt 102.62 384,810.00 21,766.12 16,600.01 DTD 10/01/2023 4.850% 09/01/2028

2.33 3.64
FHMS K507 A2 3137HAMS2 500,000.00 BOFAML 102.32 511,623.00 17,599.50 14,943.11 DTD 09/01/2023 4.800% 09/01/2028

2.28 3.69
FHMS K510 A2 3137HB3D4 180,000.00 JPMorgan 103.23 185,809.68 6,330.06 6,106.50 DTD 11/01/2023 5.069% 10/01/2028

2.36 3.62
FHMS K511 A2 3137HB3G7 275,000.00 BOFAML 102.75 282,563.88 8,353.95 8,017.25 DTD 12/01/2023 4.860% 10/01/2028

2.39 3.63
FHMS K514 A2 3137HBLV4 290,000.00 JPMorgan 102.01 295,842.92 2,943.21 4,090.18 DTD 02/01/2024 4.572% 12/01/2028

2.48 3.68
FHMS K524 A2 3137HDV56 440,000.00 PIER 102.84 452,474.00 9,771.96 10,567.97 DTD 07/01/2024 4.720% 05/01/2029

2.92 3.70
FHMS K526 A2 3137HDXL9 495,000.00 BMO 102.48 507,254.72 7,624.49 8,960.58 DTD 08/01/2024 4.543% 07/01/2029

3.08 3.69
FHMS K539 A2 3137HKXJ8 190,000.00 JPMorgan 102.24 194,257.71 4,264.36 4,263.17 DTD 04/01/2025 4.410% 01/01/2030

3.51 3.73
Security Type Sub-Total 7,914,789.61 8,026,595.55 235,112.38 151,278.05 1.93 3.70 Corporate Note
UNITEDHEALTH GROUP INC (CALLABLE) 91324PEC2 225,000.00 Citigrou 04/15/26 99.44 223,741.35 (867.15) (1,242.52) DTD 05/19/2021 1.150% 05/15/2026

0.20 3.90
BMW US CAPITAL LLC (CALLABLE) 05565EBW4 175,000.00 SUMITR 07/12/26 98.81 172,909.63 (2,037.87) (2,085.66) DTD 08/12/2021 1.250% 08/12/2026

0.45 3.97
CATERPILLAR FINL SERVICE 14913R2U0 225,000.00 JPMorgan 98.27 221,100.75 (2,763.00) (3,704.92) DTD 01/10/2022 1.700% 01/08/2027

0.84 3.78
TARGET CORP (CALLABLE) 87612EBM7 40,000.00 Citigrou 12/15/26 98.49 39,395.48 (536.52) (592.60) DTD 01/24/2022 1.950% 01/15/2027

0.86 3.73
BANK OF NY MELLON CORP (CALLABLE) 06406RBA4 475,000.00 Deutsche 12/24/26 98.52 467,969.53 (5,975.97) (6,839.86) DTD 01/26/2022 2.050% 01/26/2027

0.88 3.73
PFM Asset Management, a division of Page 17
U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Corporate Note
MICROSOFT CORP (CALLABLE) 594918BY9 750,000.00 GoldmanS 11/06/26 99.68 747,567.75 25,625.25 4,286.31 DTD 02/06/2017 3.300% 02/06/2027

0.82 3.66
AMERICAN EXPRESS CO (CALLABLE) 025816CS6 300,000.00 RBS 02/01/27 98.88 296,635.80 19,432.80 2,204.65 DTD 03/04/2022 2.550% 03/04/2027

0.96 3.69
BERKSHIRE HATHAWAY FIN (CALLABLE) 084664CZ2 475,000.00 SEEL 02/15/27 98.63 468,474.93 2,385.93 (4,671.50) DTD 03/15/2022 2.300% 03/15/2027

1.00 3.66
CHARLES SCHWAB CORP (CALLABLE) 808513BW4 300,000.00 Barclays 01/01/27 99.44 298,320.30 13,395.30 2,295.45 DTD 09/24/2021 3.300% 04/01/2027

0.96 3.83
NATIONAL AUSTRALIA BK/NY 63254ABE7 500,000.00 CAS 100.29 501,474.50 13,149.50 4,856.63 DTD 06/09/2022 3.905% 06/09/2027

1.23 3.66
APPLE INC (CALLABLE) 037833DB3 775,000.00 TD Secur 06/12/27 99.02 767,400.35 26,337.60 3,604.32 DTD 09/12/2017 2.900% 09/12/2027

1.39 3.56
TOYOTA MOTOR CREDIT CORP 89236TKQ7 375,000.00 WellsFar 101.69 381,337.88 5,055.38 5,852.24 DTD 01/12/2023 4.625% 01/12/2028

1.77 3.68
NATIONAL RURAL UTIL COOP (CALLABLE) 637432NP6 350,000.00 MorganSt 11/07/27 99.34 347,673.20 18,484.20 5,787.74 DTD 02/07/2018 3.400% 02/07/2028

1.76 3.76
TEXAS INSTRUMENTS INC (CALLABLE) 882508BV5 85,000.00 JPMorgan 01/15/28 101.64 86,395.70 (647.70) 574.44 DTD 11/18/2022 4.600% 02/15/2028

1.80 3.72
BRISTOL-MYERS SQUIBB CO (CALLABLE) 110122DE5 211,000.00 MAXE 11/20/27 100.48 212,015.33 10,432.26 4,772.56 DTD 07/15/2020 3.900% 02/20/2028

1.73 3.64
LOCKHEED MARTIN CORP (CALLABLE) 539830BZ1 60,000.00 Barclays 04/15/28 101.35 60,811.32 919.32 859.23 DTD 05/25/2023 4.450% 05/15/2028

2.01 3.80
JOHN DEERE CAPITAL CORP 24422EXB0 375,000.00 Citigrou 102.82 385,584.75 7,719.75 9,218.71 DTD 07/14/2023 4.950% 07/14/2028

2.21 3.69
CITIBANK NA (CALLABLE) 17325FBB3 750,000.00 Barclays 08/29/28 104.73 785,490.75 39,210.75 37,547.33 DTD 09/29/2023 5.803% 09/29/2028

2.28 3.86
AIR PRODUCTS & CHEMICALS (CALLABLE) 009158BH8 340,000.00 Barclays 01/08/29 102.29 347,788.04 8,240.24 8,065.94 DTD 02/08/2024 4.600% 02/08/2029

2.68 3.77
CISCO SYSTEMS INC (CALLABLE) 17275RBR2 420,000.00 Citigrou 01/26/29 102.98 432,526.92 12,673.92 12,618.12 DTD 02/26/2024 4.850% 02/26/2029

2.72 3.78
BLACKROCK FUNDING INC (CALLABLE) 09290DAA9 50,000.00 Citigrou 02/14/29 102.64 51,319.90 1,410.40 1,377.23 DTD 03/14/2024 4.700% 03/14/2029

2.71 3.77
BLACKROCK FUNDING INC (CALLABLE) 09290DAA9 725,000.00 BOFAML 02/14/29 102.64 744,138.55 18,783.30 18,911.26 DTD 03/14/2024 4.700% 03/14/2029

2.71 3.77
PFM Asset Management, a division of Page 18
U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Corporate Note
ADOBE INC (CALLABLE) 00724PAF6 170,000.00 SEEL 03/04/29 102.67 174,538.15 4,762.55 4,682.96 DTD 04/04/2024 4.800% 04/04/2029

2.76 3.87
ADOBE INC (CALLABLE) 00724PAF6 205,000.00 BOFAML 03/04/29 102.67 210,472.48 5,777.93 5,669.80 DTD 04/04/2024 4.800% 04/04/2029

2.76 3.87
WELLS FARGO & COMPANY (CALLABLE) 95000U3T8 110,000.00 SEEL 04/23/28 101.95 112,146.76 2,058.76 2,082.41 DTD 04/23/2025 4.970% 04/23/2029

1.99 4.33
WELLS FARGO & COMPANY (CALLABLE) 95000U3T8 290,000.00 WellsFar 04/23/28 101.95 295,659.64 5,659.64 5,659.64 DTD 04/23/2025 4.970% 04/23/2029

1.99 4.33
BANK OF AMERICA CORP (CALLABLE) 06051GMT3 600,000.00 BOFAML 05/09/28 101.42 608,515.80 8,515.80 8,515.80 DTD 05/09/2025 4.623% 05/09/2029

2.04 4.20
HOME DEPOT INC (CALLABLE) 437076DC3 125,000.00 MorganSt 05/25/29 102.98 128,728.37 4,534.62 4,284.43 DTD 06/25/2024 4.750% 06/25/2029

2.98 3.78
HOME DEPOT INC (CALLABLE) 437076DC3 250,000.00 PNCBank 05/25/29 102.98 257,456.75 8,829.25 8,402.80 DTD 06/25/2024 4.750% 06/25/2029

2.98 3.78
AMERICAN HONDA FINANCE 02665WFQ9 400,000.00 Deutsche 101.41 405,636.40 6,116.40 5,984.04 DTD 09/05/2024 4.400% 09/05/2029

3.17 3.97
MARS INC (CALLABLE) 571676AY1 115,000.00 BOFAML 02/01/30 102.80 118,219.42 3,343.62 3,321.64 DTD 03/12/2025 4.800% 03/01/2030

3.58 4.04
STATE STREET CORP (CALLABLE) 857477DB6 200,000.00 MorganSt 03/24/30 103.01 206,026.00 6,026.00 6,026.00 DTD 04/24/2025 4.834% 04/24/2030

3.64 4.04
PACCAR FINANCIAL CORP 69371RT71 400,000.00 TD Secur 102.43 409,702.80 10,322.80 10,230.43 DTD 05/08/2025 4.550% 05/08/2030

3.74 3.91
ANALOG DEVICES INC (CALLABLE) 032654BE4 400,000.00 BOFAML 05/15/30 102.27 409,063.60 9,415.60 9,369.18 DTD 06/16/2025 4.500% 06/15/2030

3.81 3.92
NOVARTIS CAPITAL CORP (CALLABLE) 66989HAY4 510,000.00 JPMorgan 10/05/30 100.66 513,361.92 4,891.92 4,800.33 DTD 11/05/2025 4.100% 11/05/2030

4.15 3.94
SHELL FINANCE US INC (CALLABLE) 822905AN5 125,000.00 MorganSt 10/06/30 100.80 125,995.38 1,475.38 1,447.13 DTD 11/06/2025 4.125% 11/06/2030

4.15 3.94
SHELL FINANCE US INC (CALLABLE) 822905AN5 450,000.00 RBC Capi 10/06/30 100.80 453,583.35 4,447.35 4,396.42 DTD 11/06/2025 4.125% 11/06/2030

4.15 3.94
NORTHERN TRUST CORP 665859AY0 115,000.00 BOFAML 100.86 115,988.20 1,044.55 1,041.37 DTD 11/19/2025 4.150% 11/19/2030

4.21 3.95
NORTHERN TRUST CORP 665859AY0 460,000.00 CIDLY 100.86 463,952.78 4,509.38 4,479.41 DTD 11/19/2025 4.150% 11/19/2030

4.21 3.95
PFM Asset Management, a division of Page 19
U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Corporate Note
AMAZON.COM INC (CALLABLE) 023135CT1 575,000.00 JPMorgan 10/20/30 100.73 579,225.10 4,840.35 4,808.88 DTD 11/20/2025 4.100% 11/20/2030

4.19 3.93
TOTALENERGI CAP USA LLC (CALLABLE) 89158TAA7 240,000.00 Citigrou 12/13/30 100.90 242,150.40 2,150.40 2,150.40 DTD 01/13/2026 4.248% 01/13/2031

4.32 4.04
TOTALENERGI CAP USA LLC (CALLABLE) 89158TAA7 335,000.00 TD Secur 12/13/30 100.90 338,001.60 2,388.55 2,403.47 DTD 01/13/2026 4.248% 01/13/2031

4.32 4.04
Security Type Sub-Total 14,056,000.00 14,208,497.61 311,538.54 203,451.64 2.44 3.84 Bank Note
MORGAN STANLEY BANK NA (CALLABLE) 61690U8E3 525,000.00 Citigrou 07/14/27 101.28 531,724.20 6,199.20 6,473.63 DTD 07/19/2024 4.968% 07/14/2028

1.31 4.25
Security Type Sub-Total 525,000.00 531,724.20 6,199.20 6,473.63 1.31 4.25 Asset-Backed Security
CARMX 2022-3 A3 14318MAD1 2,375.10 RBC Capi 100.01 2,375.41 0.37 0.32 DTD 07/20/2022 3.970% 04/15/2027

0.04 3.66
NAROT 2022-B A3 65480JAC4 18,645.22 WellsFar 100.08 18,659.80 18.44 15.59 DTD 09/28/2022 4.460% 05/17/2027

0.17 4.03
GMCAR 2022-4 A3 36265QAD8 17,782.06 RBC Capi 100.09 17,797.58 18.44 16.40 DTD 10/12/2022 4.820% 08/16/2027

0.08 3.73
TAOT 2023-A A3 891940AC2 63,227.49 BOFAML 100.20 63,352.36 124.90 124.88 DTD 01/30/2023 4.630% 09/15/2027

0.29 3.97
HDMOT 2023-A A3 41285JAD0 36,895.28 JPMorgan 100.24 36,983.68 92.12 89.79 DTD 02/23/2023 5.050% 12/15/2027

0.25 4.13
FORDO 2023-A A3 344928AD8 38,601.27 BNPPSA 100.23 38,690.09 92.85 90.44 DTD 03/31/2023 4.650% 02/15/2028

0.33 3.99
HAROT 2023-3 A3 43815QAC1 136,482.04 BOFAML 100.66 137,384.59 930.69 914.86 DTD 08/22/2023 5.410% 02/18/2028

0.46 4.02
DCENT 2023-A1 A 254683CY9 320,000.00 RBC Capi 100.02 320,061.44 80.00 69.12 DTD 04/11/2023 4.310% 03/15/2028

0.04 3.84
BACCT 2023-A1 A1 05522RDG0 170,000.00 BOFAML 100.20 170,343.23 381.72 360.51 DTD 06/16/2023 4.790% 05/15/2028

0.20 3.83
PFM Asset Management, a division of Page 20
U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Asset-Backed Security
AMXCA 2023-1 A 02582JJZ4 190,000.00 RBC Capi 100.21 190,398.43 415.28 405.98 DTD 06/14/2023 4.870% 05/15/2028

0.20 3.87
COMET 2023-A1 A 14041NGD7 490,000.00 RBC Capi 100.12 490,582.12 694.48 631.93 DTD 05/24/2023 4.420% 05/15/2028

0.20 3.87
DCENT 2023-A2 A 254683CZ6 350,000.00 BOFAML 100.33 351,156.75 1,204.03 1,178.55 DTD 06/28/2023 4.930% 06/15/2028

0.29 3.81
HAROT 2023-4 A3 438123AC5 51,211.62 JPMorgan 101.06 51,756.16 553.56 549.28 DTD 11/08/2023 5.670% 06/21/2028

0.62 4.02
FITAT 2023-1 A3 31680EAD3 174,954.97 JPMorgan 100.78 176,311.05 1,366.92 1,361.43 DTD 08/23/2023 5.530% 08/15/2028

0.54 4.13
CHAIT 2023-A1 A 161571HT4 405,000.00 JPMorgan 100.73 407,973.11 3,085.38 3,033.70 DTD 09/15/2023 5.160% 09/15/2028

0.53 3.81
AMXCA 2023-3 A 02582JKD1 410,000.00 Citigrou 100.79 413,227.93 3,246.26 3,237.66 DTD 09/19/2023 5.230% 09/15/2028

0.53 3.78
PILOT 2025-1A A3 73329KAD8 100,000.00 Barclays 101.13 101,131.50 1,142.21 1,139.68 DTD 05/21/2025 4.610% 10/20/2028

1.46 3.88
BACCT 2023-A2 A2 05522RDH8 180,000.00 BOFAML 100.85 181,535.76 1,559.93 1,549.40 DTD 12/14/2023 4.980% 11/15/2028

0.69 3.78
AMXCA 2024-1 A 02582JKH2 495,000.00 Barclays 101.76 503,688.24 8,789.71 8,789.71 DTD 04/23/2024 5.230% 04/16/2029

1.07 3.66
HAROT 2025-2 A3 437921AD1 115,000.00 JPMorgan 100.60 115,693.22 706.07 703.65 DTD 05/08/2025 4.150% 10/15/2029

1.52 3.79
BAAT 2025-1A A3 05594BAD8 80,000.00 BOFAML 100.71 80,566.48 572.00 570.87 DTD 05/12/2025 4.350% 11/20/2029

1.22 3.81
MBART 2025-1 A3 58773DAD6 550,000.00 WellsFar 101.35 557,446.45 3,772.62 4,412.06 DTD 01/23/2025 4.780% 12/17/2029

1.14 3.64
VZMT 2025-3 A1A 92348KDY6 415,000.00 BOFAML 100.78 418,251.53 3,269.37 3,265.34 DTD 03/31/2025 4.510% 03/20/2030

1.55 4.10
GMCAR 2025-2 A3 362549AD9 90,000.00 TD Secur 100.77 90,697.05 710.30 708.26 DTD 05/14/2025 4.280% 04/16/2030

1.31 3.72
BACCT 2025-A1 A 05522RDK1 250,000.00 BOFAML 101.51 253,764.00 3,764.95 3,764.00 DTD 06/12/2025 4.310% 05/15/2030

2.07 3.63
WFCIT 2025-A1 A 92970QAJ4 485,000.00 WellsFar 101.49 492,241.54 7,249.59 7,247.12 DTD 06/10/2025 4.340% 05/15/2030

2.07 3.66
PFM Asset Management, a division of Page 21
U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Asset-Backed Security
CCCIT 2025-A1 A 17305EHA6 550,000.00 Citigrou 101.46 558,047.60 8,196.81 8,178.14 DTD 06/26/2025 4.300% 06/21/2030

2.17 3.63
TAOT 2026-A A3 89240KAD0 140,000.00 BNP Sec 100.48 140,665.98 677.91 677.63 DTD 01/21/2026 3.860% 09/16/2030

2.20 3.68
HAROT 2026-1 A3 43815CAD0 145,000.00 MUFG 100.20 145,296.96 320.06 319.40 DTD 02/18/2026 3.780% 09/23/2030

2.21 3.72
HART 2026-A A3 448981AD2 165,000.00 BOFAML 100.26 165,425.04 436.18 435.48 DTD 02/18/2026 3.790% 02/18/2031

2.28 3.71
Security Type Sub-Total 6,635,175.05 6,691,505.08 53,473.15 53,841.18 1.08 3.79 Managed Account Sub-Total 56,955,964.66 57,114,224.35 1,250,429.26 786,775.77 2.41 3.61 Joint Powers Authority
CAMP Pool 466,400.34 1.00 466,400.34 0.00 0.00 0.00
Liquid Sub-Total 466,400.34 466,400.34 0.00 0.00 0.00
Total Investments $57,918,492.08
$337,867.39
$57,580,624.69
Accrued Interest
Securities Sub-Total $57,422,365.00 $1,250,429.26 $786,775.77 2.41 3.61% PFM Asset Management, a division of Page 22
U.S. Bancorp Asset Management, Inc.

Managed Account Security Transactions & Interest For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Transaction Type
Trade Settle Security Description CUSIP Par Proceeds
Principal Accrued
Interest Total Cost
Realized G/L Realized G/L Sale
Amort Cost Method
BUY
02/05/26 US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
02/02/26 91282CMG3 1,450,000.00 (1,478,320.31) (851.17) (1,479,171.48) 02/18/26 HART 2026-A A3
DTD 02/18/2026 3.790% 02/18/2031
02/10/26 448981AD2 165,000.00 (164,988.86) 0.00 (164,988.86) 02/18/26 HAROT 2026-1 A3
DTD 02/18/2026 3.780% 09/23/2030
02/10/26 43815CAD0 145,000.00 (144,976.90) 0.00 (144,976.90) Transaction Type Sub-Total 1,760,000.00 (1,788,286.07) (851.17) (1,789,137.24)

INTEREST
02/25/26 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
02/01/26 3137HAD45 0.00 1,710.14 1,710.14
02/25/26 FHMS K058 A2
DTD 11/01/2016 2.653% 08/01/2026
02/01/26 3137BSP72 0.00 1,215.96 1,215.96
02/25/26 FHMS K514 A2
DTD 02/01/2024 4.572% 12/01/2028
02/01/26 3137HBLV4 0.00 1,104.90 1,104.90
02/25/26 FHMS K539 A2
DTD 04/01/2025 4.410% 01/01/2030
02/01/26 3137HKXJ8 0.00 698.25 698.25
02/25/26 FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
02/01/26 3137HB3D4 0.00 760.35 760.35
02/25/26 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
02/01/26 3137HAMS2 0.00 2,000.00 2,000.00
02/25/26 FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
02/01/26 3137HAQ74 0.00 1,975.00 1,975.00
02/25/26 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
02/01/26 3137HACX2 0.00 2,208.71 2,208.71
02/25/26 FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
02/01/26 3137BTUM1 0.00 1,007.67 1,007.67
02/25/26 FHMS K522 A2
DTD 06/01/2024 4.803% 05/01/2029
02/01/26 3137HDJJ0 0.00 2,143.96 2,143.96
02/25/26 FHMS K064 A2
DTD 05/01/2017 3.224% 03/01/2027
02/01/26 3137BXQY1 0.00 1,477.67 1,477.67
02/25/26 FHMS K524 A2
DTD 07/01/2024 4.720% 05/01/2029
02/01/26 3137HDV56 0.00 1,730.67 1,730.67
PFM Asset Management, a division of Page 23
U.S. Bancorp Asset Management, Inc.

Managed Account Security Transactions & Interest For the Month Ending February 28, 2026

INTEREST
02/25/26 FHMS K065 A2
DTD 07/01/2017 3.243% 04/01/2027
02/01/26 3137F1G44 0.00 1,486.38 1,486.38
02/25/26 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
02/01/26 3137HAMH6 0.00 3,100.00 3,100.00
02/25/26 FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
02/01/26 3137HAST4 0.00 1,515.63 1,515.63
02/25/26 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
02/01/26 3137HB3G7 0.00 1,113.75 1,113.75
02/25/26 FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
02/01/26 3137HBC69 0.00 1,527.00 1,527.00
02/25/26 FHMS K526 A2
DTD 08/01/2024 4.543% 07/01/2029
02/01/26 3137HDXL9 0.00 1,873.99 1,873.99
02/25/26 FNA 2023-M6 A2
DTD 07/01/2023 4.181% 07/01/2028
02/01/26 3136BQDE6 0.00 1,829.20 1,829.20
02/06/26 MICROSOFT CORP (CALLABLE)
DTD 02/06/2017 3.300% 02/06/2027
02/06/26 594918BY9 0.00 12,375.00 12,375.00
02/07/26 NATIONAL RURAL UTIL COOP
(CALLABLE)
DTD 02/07/2018 3.400% 02/07/2028
02/07/26 637432NP6 0.00 5,950.00 5,950.00
02/08/26 AIR PRODUCTS & CHEMICALS
(CALLABLE)
DTD 02/08/2024 4.600% 02/08/2029
02/08/26 009158BH8 0.00 7,820.00 7,820.00
02/12/26 BMW US CAPITAL LLC (CALLABLE)
DTD 08/12/2021 1.250% 08/12/2026
02/12/26 05565EBW4 0.00 1,093.75 1,093.75
02/15/26 AMXCA 2023-1 A
DTD 06/14/2023 4.870% 05/15/2028
02/15/26 02582JJZ4 0.00 771.08 771.08
02/15/26 HAROT 2025-2 A3
DTD 05/08/2025 4.150% 10/15/2029
02/15/26 437921AD1 0.00 397.71 397.71
02/15/26 TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
02/15/26 891940AC2 0.00 283.06 283.06
02/15/26 HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
02/15/26 41285JAD0 0.00 184.32 184.32
02/15/26 DCENT 2023-A2 A
DTD 06/28/2023 4.930% 06/15/2028
02/15/26 254683CZ6 0.00 1,437.92 1,437.92
PFM Asset Management, a division of Page 24
U.S. Bancorp Asset Management, Inc.

Managed Account Security Transactions & Interest For the Month Ending February 28, 2026

INTEREST
02/15/26 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
02/15/26 02582JKD1 0.00 1,786.92 1,786.92
02/15/26 BACCT 2023-A1 A1
DTD 06/16/2023 4.790% 05/15/2028
02/15/26 05522RDG0 0.00 678.58 678.58
02/15/26 MBART 2025-1 A3
DTD 01/23/2025 4.780% 12/17/2029
02/15/26 58773DAD6 0.00 2,190.83 2,190.83
02/15/26 DCENT 2023-A1 A
DTD 04/11/2023 4.310% 03/15/2028
02/15/26 254683CY9 0.00 1,149.33 1,149.33
02/15/26 BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
02/15/26 05522RDH8 0.00 747.00 747.00
02/15/26 TAOT 2026-A A3
DTD 01/21/2026 3.860% 09/16/2030
02/15/26 89240KAD0 0.00 360.27 360.27
02/15/26 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
02/15/26 31680EAD3 0.00 881.85 881.85
02/15/26 BACCT 2025-A1 A
DTD 06/12/2025 4.310% 05/15/2030
02/15/26 05522RDK1 0.00 897.92 897.92
02/15/26 FORDO 2023-A A3
DTD 03/31/2023 4.650% 02/15/2028
02/15/26 344928AD8 0.00 170.07 170.07
02/15/26 COMET 2023-A1 A
DTD 05/24/2023 4.420% 05/15/2028
02/15/26 14041NGD7 0.00 1,804.83 1,804.83
02/15/26 CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
02/15/26 161571HT4 0.00 1,741.50 1,741.50
02/15/26 TEXAS INSTRUMENTS INC (CALLABLE)
DTD 11/18/2022 4.600% 02/15/2028
02/15/26 882508BV5 0.00 1,955.00 1,955.00
02/15/26 WFCIT 2025-A1 A
DTD 06/10/2025 4.340% 05/15/2030
02/15/26 92970QAJ4 0.00 1,754.08 1,754.08
02/15/26 CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
02/15/26 14318MAD1 0.00 33.24 33.24
02/15/26 NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
02/15/26 65480JAC4 0.00 87.87 87.87
02/15/26 AMXCA 2024-1 A
DTD 04/23/2024 5.230% 04/16/2029
02/15/26 02582JKH2 0.00 2,157.37 2,157.37
02/16/26 GMCAR 2025-2 A3
DTD 05/14/2025 4.280% 04/16/2030
02/16/26 362549AD9 0.00 321.00 321.00
PFM Asset Management, a division of Page 25
U.S. Bancorp Asset Management, Inc.

Managed Account Security Transactions & Interest For the Month Ending February 28, 2026

INTEREST
02/16/26 GMCAR 2022-4 A3
DTD 10/12/2022 4.820% 08/16/2027
02/16/26 36265QAD8 0.00 113.45 113.45
02/18/26 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
02/18/26 43815QAC1 0.00 684.58 684.58
02/20/26 VZMT 2025-3 A1A
DTD 03/31/2025 4.510% 03/20/2030
02/20/26 92348KDY6 0.00 1,559.71 1,559.71
02/20/26 PILOT 2025-1A A3
DTD 05/21/2025 4.610% 10/20/2028
02/20/26 73329KAD8 0.00 384.17 384.17
02/20/26 BRISTOL-MYERS SQUIBB CO
(CALLABLE)
DTD 07/15/2020 3.900% 02/20/2028
02/20/26 110122DE5 0.00 4,114.50 4,114.50
02/20/26 BAAT 2025-1A A3
DTD 05/12/2025 4.350% 11/20/2029
02/20/26 05594BAD8 0.00 290.00 290.00
02/21/26 HAROT 2023-4 A3
DTD 11/08/2023 5.670% 06/21/2028
02/21/26 438123AC5 0.00 262.70 262.70
02/26/26 CISCO SYSTEMS INC (CALLABLE)
DTD 02/26/2024 4.850% 02/26/2029
02/26/26 17275RBR2 0.00 10,185.00 10,185.00
Transaction Type Sub-Total 0.00 97,103.84 97,103.84

PAYDOWNS
02/25/26 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
02/01/26 3137HAD45 500.99 500.99 0.00 500.99 0.01 0.01
02/25/26 FNA 2023-M6 A2
DTD 07/01/2023 4.181% 07/01/2028
02/01/26 3136BQDE6 20,813.71 20,813.71 0.00 20,813.71 352.86 175.84 02/25/26 FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
02/01/26 3137BTUM1 767.79 767.79 0.00 767.79 23.63 5.51 02/25/26 FHMS K522 A2
DTD 06/01/2024 4.803% 05/01/2029
02/01/26 3137HDJJ0 59.76 59.76 0.00 59.76 0.00 0.00
02/25/26 FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
02/01/26 3137HBC69 1,143.58 1,143.58 0.00 1,143.58 0.01 0.00 02/15/26 HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
02/15/26 41285JAD0 6,903.35 6,903.35 0.00 6,903.35 0.69 0.26 02/15/26 NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
02/15/26 65480JAC4 4,997.14 4,997.14 0.00 4,997.14 1.03 0.28 PFM Asset Management, a division of Page 26
U.S. Bancorp Asset Management, Inc.

Managed Account Security Transactions & Interest For the Month Ending February 28, 2026

PAYDOWNS
02/15/26 TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
02/15/26 891940AC2 10,135.84 10,135.84 0.00 10,135.84 0.01 0.00 02/15/26 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
02/15/26 31680EAD3 16,404.41 16,404.41 0.00 16,404.41 1.02 0.51 02/15/26 CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
02/15/26 14318MAD1 7,671.89 7,671.89 0.00 7,671.89 0.18 0.04 02/15/26 FORDO 2023-A A3
DTD 03/31/2023 4.650% 02/15/2028
02/15/26 344928AD8 5,286.98 5,286.98 0.00 5,286.98 0.56 0.23 02/16/26 GMCAR 2022-4 A3
DTD 10/12/2022 4.820% 08/16/2027
02/16/26 36265QAD8 10,462.50 10,462.50 0.00 10,462.50 1.72 0.53 02/18/26 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
02/18/26 43815QAC1 15,365.29 15,365.29 0.00 15,365.29 3.17 1.41 02/21/26 HAROT 2023-4 A3
DTD 11/08/2023 5.670% 06/21/2028
02/21/26 438123AC5 4,387.01 4,387.01 0.00 4,387.01 0.77 0.41 Transaction Type Sub-Total 104,900.24 104,900.24 0.00 104,900.24 385.66 185.03 SELL
02/05/26 US TREASURY N/B
DTD 06/30/2021 1.250% 06/30/2028
02/02/26 91282CCH2 1,400,000.00 1,325,789.06 1,740.33 1,327,529.39 87,390.62 24,912.33 FIFO 02/10/26 FHMS K522 A2
DTD 06/01/2024 4.803% 05/01/2029
02/05/26 3137HDJJ0 267,797.55 274,576.18 321.56 274,897.74 6,779.43 6,778.63 FIFO 02/10/26 FHMS K522 A2
DTD 06/01/2024 4.803% 05/01/2029
02/05/26 3137HDJJ0 267,797.55 274,659.86 321.56 274,981.42 6,863.11 6,862.31 FIFO Transaction Type Sub-Total 1,935,595.10 1,875,025.10 2,383.45 1,877,408.55 101,033.16 38,553.27 Managed Account Sub-Total 191,639.27 98,636.12 290,275.39 101,418.82 38,738.30 Total Security Transactions $191,639.27 $98,636.12 $290,275.39 $101,418.82 $38,738.30 PFM Asset Management, a division of Page 27
U.S. Bancorp Asset Management, Inc.

Account Statement For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Trade Settlement Share or Dollar Amount Total
Date Date Transaction Description Unit Price of Transaction Shares Owned CAMP Pool
Opening Balance 133,287.76
02/02/26 02/02/26 Purchase - Interest 91282CMG3 1.00 46,218.75 179,506.51 02/05/26 02/05/26 Purchase - Interest 91282CCH2 1.00 1,740.33 181,246.84 02/05/26 02/05/26 Purchase - Principal 91282CCH2 1.00 1,325,789.06 1,507,035.90 02/05/26 02/05/26 Redemption - Principal 91282CMG3 1.00 (1,478,320.31) 28,715.59 02/05/26 02/05/26 Redemption - Interest 91282CMG3 1.00 (851.17) 27,864.42 02/06/26 02/06/26 Purchase - Interest 594918BY9 1.00 12,375.00 40,239.42 02/09/26 02/09/26 Purchase - Interest 009158BH8 1.00 7,820.00 48,059.42 02/09/26 02/09/26 Purchase - Interest 637432NP6 1.00 5,950.00 54,009.42 02/10/26 02/10/26 Purchase - Interest 3137HDJJ0 1.00 321.59 54,331.01 02/10/26 02/10/26 Purchase - Interest 3137HDJJ0 1.00 321.59 54,652.60 02/10/26 02/10/26 Purchase - Principal 3137HDJJ0 1.00 274,606.81 329,259.41 02/10/26 02/10/26 Purchase - Principal 3137HDJJ0 1.00 274,690.51 603,949.92 02/12/26 02/12/26 Purchase - Interest 05565EBW4 1.00 1,093.75 605,043.67 02/17/26 02/17/26 Purchase - Interest 882508BV5 1.00 1,955.00 606,998.67 02/17/26 02/17/26 Purchase - Interest 02582JJZ4 1.00 771.08 607,769.75 02/17/26 02/17/26 Purchase - Interest 02582JKD1 1.00 1,786.92 609,556.67 02/17/26 02/17/26 Purchase - Interest 02582JKH2 1.00 2,157.37 611,714.04 02/17/26 02/17/26 Purchase - Interest 05522RDG0 1.00 678.58 612,392.62 02/17/26 02/17/26 Purchase - Interest 05522RDH8 1.00 747.00 613,139.62 02/17/26 02/17/26 Purchase - Interest 05522RDK1 1.00 897.92 614,037.54 02/17/26 02/17/26 Purchase - Interest 14041NGD7 1.00 1,804.83 615,842.37 PFM Asset Management, a division of Page 28
U.S. Bancorp Asset Management, Inc.

Account Statement For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Trade Settlement Share or Dollar Amount Total
Date Date Transaction Description Unit Price of Transaction Shares Owned CAMP Pool
02/17/26 02/17/26 Purchase - Interest 14318MAD1 1.00 33.24 615,875.61 02/17/26 02/17/26 Purchase - Interest 161571HT4 1.00 1,741.50 617,617.11 02/17/26 02/17/26 Purchase - Interest 254683CY9 1.00 1,149.33 618,766.44 02/17/26 02/17/26 Purchase - Interest 254683CZ6 1.00 1,437.92 620,204.36 02/17/26 02/17/26 Purchase - Interest 31680EAD3 1.00 881.85 621,086.21 02/17/26 02/17/26 Purchase - Interest 344928AD8 1.00 170.07 621,256.28 02/17/26 02/17/26 Purchase - Interest 362549AD9 1.00 321.00 621,577.28 02/17/26 02/17/26 Purchase - Interest 36265QAD8 1.00 113.45 621,690.73 02/17/26 02/17/26 Purchase - Interest 41285JAD0 1.00 184.32 621,875.05 02/17/26 02/17/26 Purchase - Interest 437921AD1 1.00 397.71 622,272.76 02/17/26 02/17/26 Purchase - Interest 58773DAD6 1.00 2,190.83 624,463.59 02/17/26 02/17/26 Purchase - Interest 65480JAC4 1.00 87.87 624,551.46 02/17/26 02/17/26 Purchase - Interest 891940AC2 1.00 283.06 624,834.52 02/17/26 02/17/26 Purchase - Interest 89240KAD0 1.00 360.27 625,194.79 02/17/26 02/17/26 Purchase - Interest 92970QAJ4 1.00 1,754.08 626,948.87 02/17/26 02/17/26 Purchase - Principal 14318MAD1 1.00 7,671.89 634,620.76 02/17/26 02/17/26 Purchase - Principal 31680EAD3 1.00 16,404.41 651,025.17 02/17/26 02/17/26 Purchase - Principal 41285JAD0 1.00 6,903.35 657,928.52 02/17/26 02/17/26 Purchase - Principal 344928AD8 1.00 5,286.98 663,215.50 02/17/26 02/17/26 Purchase - Principal 65480JAC4 1.00 4,997.14 668,212.64 02/17/26 02/17/26 Purchase - Principal 891940AC2 1.00 10,135.84 678,348.48 02/17/26 02/17/26 Purchase - Principal 36265QAD8 1.00 10,462.50 688,810.98 PFM Asset Management, a division of Page 29
U.S. Bancorp Asset Management, Inc.

Account Statement For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Trade Settlement Share or Dollar Amount Total
Date Date Transaction Description Unit Price of Transaction Shares Owned CAMP Pool
02/18/26 02/18/26 Purchase - Interest 43815QAC1 1.00 684.58 689,495.56 02/18/26 02/18/26 Purchase - Principal 43815QAC1 1.00 15,365.29 704,860.85 02/18/26 02/18/26 Redemption - Principal 43815CAD0 1.00 (144,976.90) 559,883.95 02/18/26 02/18/26 Redemption - Principal 448981AD2 1.00 (164,988.86) 394,895.09 02/20/26 02/20/26 Purchase - Interest 110122DE5 1.00 4,114.50 399,009.59 02/20/26 02/20/26 Purchase - Interest 05594BAD8 1.00 290.00 399,299.59 02/20/26 02/20/26 Purchase - Interest 73329KAD8 1.00 384.17 399,683.76 02/20/26 02/20/26 Purchase - Interest 92348KDY6 1.00 1,559.71 401,243.47 02/23/26 02/23/26 Purchase - Interest 438123AC5 1.00 262.70 401,506.17 02/23/26 02/23/26 Purchase - Principal 438123AC5 1.00 4,387.01 405,893.18 02/25/26 02/25/26 Purchase - Interest 3137BXQY1 1.00 1,477.67 407,370.85 02/25/26 02/25/26 Purchase - Interest 3137F1G44 1.00 1,486.38 408,857.23 02/25/26 02/25/26 Purchase - Interest 3137HACX2 1.00 2,208.71 411,065.94 02/25/26 02/25/26 Purchase - Interest 3137HAD45 1.00 1,710.14 412,776.08 02/25/26 02/25/26 Purchase - Interest 3137HAMH6 1.00 3,100.00 415,876.08 02/25/26 02/25/26 Purchase - Interest 3137HAMS2 1.00 2,000.00 417,876.08 02/25/26 02/25/26 Purchase - Interest 3137HAQ74 1.00 1,975.00 419,851.08 02/25/26 02/25/26 Purchase - Interest 3137HAST4 1.00 1,515.63 421,366.71 02/25/26 02/25/26 Purchase - Interest 3137HB3D4 1.00 760.35 422,127.06 02/25/26 02/25/26 Purchase - Interest 3137HB3G7 1.00 1,113.75 423,240.81 02/25/26 02/25/26 Purchase - Interest 3137HBC69 1.00 1,527.00 424,767.81 02/25/26 02/25/26 Purchase - Interest 3136BQDE6 1.00 1,829.20 426,597.01 PFM Asset Management, a division of Page 30
U.S. Bancorp Asset Management, Inc.

Account Statement For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Trade Settlement Share or Dollar Amount Total
Date Date Transaction Description Unit Price of Transaction Shares Owned CAMP Pool
02/25/26 02/25/26 Purchase - Interest 3137BSP72 1.00 1,215.96 427,812.97 02/25/26 02/25/26 Purchase - Interest 3137BTUM1 1.00 1,007.67 428,820.64 02/25/26 02/25/26 Purchase - Interest 3137HBLV4 1.00 1,104.90 429,925.54 02/25/26 02/25/26 Purchase - Interest 3137HDJJ0 1.00 2,143.96 432,069.50 02/25/26 02/25/26 Purchase - Interest 3137HDV56 1.00 1,730.67 433,800.17 02/25/26 02/25/26 Purchase - Interest 3137HDXL9 1.00 1,873.99 435,674.16 02/25/26 02/25/26 Purchase - Interest 3137HKXJ8 1.00 698.25 436,372.41 02/25/26 02/25/26 Purchase - Principal 3137HAD45 1.00 500.99 436,873.40 02/25/26 02/25/26 Purchase - Principal 3137BTUM1 1.00 767.79 437,641.19 02/25/26 02/25/26 Purchase - Principal 3137HBC69 1.00 1,143.58 438,784.77 02/25/26 02/25/26 Purchase - Principal 3136BQDE6 1.00 20,813.71 459,598.48 02/26/26 02/26/26 Purchase - Interest 17275RBR2 1.00 10,185.00 469,783.48 02/26/26 02/26/26 Purchase-Principal 3137HDJJ0 1.00 274,659.82 744,443.30 02/26/26 02/26/26 Purchase-Principal 3137HDJJ0 1.00 274,576.22 1,019,019.52 02/26/26 02/26/26 Purchase-Interest 3137HDJJ0 1.00 321.61 1,019,341.13 02/26/26 02/26/26 Purchase-Interest 3137HDJJ0 1.00 321.51 1,019,662.64 02/26/26 02/26/26 Purchase - Principal 3137HDJJ0 1.00 59.76 1,019,722.40 02/26/26 02/26/26 Redemption-Interest 3137HDJJ0 1.00 (321.64) 1,019,400.76 02/26/26 02/26/26 Redemption-Interest 3137HDJJ0 1.00 (321.54) 1,019,079.22 02/26/26 02/26/26 Redemption-Principal 3137HDJJ0 1.00 (274,690.46) 744,388.76 02/26/26 02/26/26 Redemption-Principal 3137HDJJ0 1.00 (274,606.86) 469,781.90 02/27/26 02/27/26 IP Fees January 2026 1.00 (4,267.48) 465,514.42 PFM Asset Management, a division of Page 31
U.S. Bancorp Asset Management, Inc.

Account Statement For the Month Ending February 28, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Trade Settlement Share or Dollar Amount Total
Date Date Transaction Description Unit Price of Transaction Shares Owned CAMP Pool
02/27/26 02/27/26 U.S. Bank Fees December 2025 1.00 (210.08) 465,304.34 02/27/26 03/02/26 Accrual Income Div Reinvestment - Distributions 1.00 1,096.00 466,400.34 466,400.34
466,400.34
466,400.34
373,707.73
1,902.73

0.00 (4,001,697.35)
3,513,529.70
954,567.99
1,096.00
466,400.34

0.00 (2,343,555.30)
2,676,667.88
133,287.76
Monthly Distribution Yield
Average Monthly Balance
Closing Balance
Month of Fiscal YTD
Cash Dividends and Income
Closing Balance
Check Disbursements
Redemptions (Excl. Checks)
Purchases
Opening Balance
Closing Balance
February January-February

3.83%
PFM Asset Management, a division of Page 32
U.S. Bancorp Asset Management, Inc.

Page 1 of 1 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Candice Alvarez, MMC, City Clerk
Date: March 24, 2026
Subject: Second Reading of an Ordinance Amending Central Tree Collective, Inc.’s Development Agreement to Revise the Community Benefit Fee Recommendation
Adopt by title only and waive further reading of AN ORDINANCE OF THE CITY COUNCIL OF

THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING THE DEVELOPMENT AGREEMENT AMENDMENT (DA-2025-13) FOR CENTRAL TREE COLLECTIVE INC., LOCATED AT 18532 PASADENA STREET (APN: 377-430-023).

Background/Discussion
At its Regular meeting on March 10, 2026, the City Council introduced by title only and waived further reading of the Ordinance.

Attachment
Attachment 1 – Ordinance
Exhibit A – DA Amendment
ORDINANCE NO. 2026-1529

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,

CALIFORNIA, APPROVING THE DEVELOPMENT AGREEMENT AMENDMENT (DA-2025-13) FOR CENTRAL TREE COLLECTIVE INC., LOCATED AT 18532 PASADENA STREET (APN: 377-430-023)
Whereas, Misty Babcock, Central Tree Collective, Inc, has filed an application with the City of Lake Elsinore (City) requesting approval of Development Agreement (DA) No. 2025-13 to amend the DA to revise the Community Benefit Fee (CBF) and establish a separate CBF rate for retail (e.g. storefront, delivery to customers) versus non-retail (e.g. cultivation, distribution, manufacturing and testing laboratory) cannabis operations. The proposed amendment also includes revisions to the definitions and general provisions. The project is located at 18532 Pasadena Street (APN: 377-430-023);
Whereas, Section 6.0 of the Western Riverside County Multiple Species Habitat Conservation Plan (MSHCP) requires that all discretionary projects within an MSHCP Criteria Cell undergo the Lake Elsinore Acquisition Process (LEAP) and Joint Project Review (JPR) to analyze the scope of the proposed development and establish a building envelope that is consistent with the MSHCP criteria;
Whereas, Section 6.0 of the MSHCP further requires that the City adopt consistency findings demonstrating that the proposed discretionary entitlement complies with the MSHCP Criteria Cell, and the MSHCP goals and objectives;
Whereas, pursuant to Chapter 19.12 (Development Agreements) of the Lake Elsinore Municipal Code (LEMC), the Planning Commission (Commission) has been delegated with the responsibility of reviewing and making a recommendation to the City Council (Council) whether the development agreement is consistent with the City’s General Plan and whether to approve the development agreement;
Whereas, on February 17, 2026, at a duly noticed public hearing, the Commission has considered evidence presented by the Community Development Department and other interested parties with respect to this item, and adopted a resolution recommending that the Council approve Development Agreement Amendment No. 2025-13; and
Whereas, on March 10, 2026, at a duly noticed Public Hearing, the Council has considered the recommendation of the Commission as well as evidence presented by the Community Development Department and other interested parties with respect to this item.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, DOES HEREBY RESOLVE, DETERMINE, AND ORDER AS FOLLOWS:

Section 1: That, in accordance with the MSHCP, the Council makes the following findings for MSHCP consistency:

1. The Project is not subject to the City’s LEAP and the Western Riverside County Regional Conservation Authority’s (RCA) JPR processes as it is not located within a Criteria Cell.

2. The Project is consistent with the Riparian/Riverine Areas, Vernal Pools Guidelines, and the Fuel Management Guidelines, as the Project is wholly located within an existing Ord. No. 2026-1529

Page 2 of 4 ends

building and does not include any earth disturbing activities; therefore, Sections 6.1.2 or

6.3.1 of the MSHCP are not applicable.

3. The Project is consistent with the Protection of Narrow Endemic Plant Species Guidelines and the Additional Survey Needs and Procedures because the project is not located within any Narrow Endemic Plant Species Survey Areas or Critical Species Survey Areas.

4. The Project is consistent with the Fuels Management Guidelines because the Project site is not within or adjacent to any MSHCP Criteria Cell or conservation areas.

5. The Project has been conditioned to pay any applicable MSHCP Local Development Mitigation fees.

Section 2: The Council hereby finds and determines that the Project is categorically exempt from California Environmental Quality Act (Cal. Publ. Res. Code §§21000 et seq. “CEQA”) and CEQA Guidelines (14. Cal. Code Regs. §§15000 et seq.), specifically pursuant to Section 15301 (Class 1 – Existing Facilities), because the proposed project is an existing cannabis business that is operating within a fully developed site and building. The proposed amendment to the business’s development agreement would not result in new construction, additional square footage, or expansion of the existing use.

Section 3: That, in accordance with California Planning and Zoning Law and Section

19.12.080.B. of the LEMC, the Council makes the following findings regarding Development Agreement Amendment No. 2025-13:

1. It is consistent with the objectives, policies, general land uses, and programs specified in the General Plan and any applicable specific plan.

The proposed development agreement amendment will continue to help offset the potential costs incurred by the City associated with the establishment of a cannabis facility within an industrial district. The project site’s General Plan Land Use designation is Limited Industrial (LI). The proposed project is consistent with the LI land use designation and with the objectives, policies, general land uses, and programs specified in the General Plan.

2. It is compatible with the uses authorized in, and the regulations prescribed for, the land use district in which the real property is located.

The proposed development agreement amendment will continue to facilitate the establishment of the cannabis facility within an existing industrial building. The cannabis facility has been in operation, which includes manufacturing and storage uses consistent with other similar businesses within the Limited Industrial (LI) General Plan Land use designation and the Limited Manufacturing (M-1) Zoning designation.

3. It is in conformity with public convenience, general welfare, and good land use practices.

The existing cannabis facility has been operating in a manner that has not resulted in negative impacts to the public and its general welfare. The proposed development agreement amendment will ensure the cannabis facility continues to have beneficial impacts to the surrounding community. Furthermore, the project has been reviewed and conditioned by all applicable City departments to reduce the potential for any adverse effects.

Ord. No. 2026-1529

Page 3 of 4 ends

4. It will not be detrimental to the health, safety, and general welfare.

The proposed development agreement amendment will not be detrimental to the health, safety, and general welfare of the community because the existing cannabis facility has been operating without negative impacts or concerns. The development agreement amendment will ensure the cannabis facility continues to operate in a safe manner.

Furthermore, the proposed project has been reviewed and conditioned by all applicable City departments to reduce the potential for any adverse effects on the health, safety, and general welfare.

5. It will not adversely affect the orderly development of property or the preservation of property values;
The cannabis facility is an existing business that has been operating without land use issues and has not caused adverse impacts for existing businesses and future developments. The proposed development agreement amendment will ensure the cannabis facility continues to operate as such.

6. It is consistent with the provisions of Government Code Sections 65864 through 65869.5.

The proposed development agreement amendment includes all mandatory provisions required by Government Code § 65865.2 and does not include any provisions that are not authorized by the Development Agreement Act.

Section 4: Approval. The City Council hereby approves the Development Agreement Amendment No. 2025-13 attached hereto as Exhibit A with such modifications as approved by the City Attorney. The Mayor and City Clerk are hereby authorized and directed to execute and attest, respectively, the Development Agreement Amendment on behalf of the City of Lake Elsinore. The City Clerk is directed to transmit the Development Agreement Amendment to the County Recorder for recordation no later than ten (10) days after the adoption of this ordinance.

Section 5: Severability. If any provision of this Ordinance or its application is held invalid by a court of competent jurisdiction, such invalidity shall not affect other provisions, sections, or applications of the Ordinance which can be given effect without the invalid provision or application, and to this end, each phrase, section, sentence, or word is declared to be severable.

Section 6: Effective Date. This Ordinance shall become effective at 12:01 a.m. on the thirty-first (31st) day after the date of adoption.

Section 7: Certification. The City Clerk shall certify to the passage of this Ordinance and shall cause a synopsis of the same to be published according to law PASSED, APPROVED, AND ADOPTED at a regular meeting of the City Council of the City of Lake Elsinore, California, on this 24th day of March 2026.

Robert E. Magee
Mayor
Ord. No. 2026-1529

Page 4 of 4 ends

Attest:

Candice Alvarez, MMC
City Clerk

STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.

CITY OF LAKE ELSINORE )
I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, California, do hereby certify that Ordinance No. 2026-1529 was introduced by the City Council of the City of Lake Elsinore, California, at the Regular meeting of March 10, 2026 and adopted at the Regular meeting of March 24, 2026 and that the same was adopted by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:

Candice Alvarez, MMC
City Clerk

RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:

City of Lake Elsinore
130 South Main Street
Lake Elsinore, CA 92530
Attn: City Clerk
(Space Above Line For Recorder’s Use Only)
(Exempt from Recording Fees Per Gov. Code § 27383)
_______________ AMENDMENT TO

DEVELOPMENT AGREEMENT

BY AND BETWEEN THE

CITY OF LAKE ELSINORE
AND
___________________________________
Approved ___________ __, 2025
Ordinance No. 2025-_____
-1-
______________ AMENDMENT TO

DEVELOPMENT AGREEMENT

BY AND BETWEEN THE CITY OF LAKE ELSINORE
AND ________________________.

This _________ Amendment to Development Agreement (“Second Amendment”), dated for identification only as of May 20, 2025, is made by and between the City of Lake Elsinore, a California municipal corporation (“City”), and _______________, a California _______________ (“Developer”). This Amendment shall take effect on the “Amendment Effective Date,” as this term is hereafter defined. City and Developer may each be referred to herein individually as a “Party” or collectively as the “Parties.”

RECITALS
A. On ___________, ______, pursuant to Ordinance No. 20__-_____, the City approved and adopted that certain “Development Agreement by and between the City of Lake Elsinore and _____________________,” which Development Agreement was recorded on __________ in the Official Records of Riverside County, California as Instrument No. 20__- _____ (the “Development Agreement”).

B. [If applicable] On ___________, ______, pursuant to Ordinance No. 20__-_____, the City approved and adopted that certain, the City approved and adopted that certain “First Amendment To Development Agreement by and between the City of Lake Elsinore and _________________.,” which Development Agreement was recorded on _________ in the Official Records of Riverside County, California as Instrument No. 20__-_____ (the “First Amendment”).

C. In connection with the Developer Agreement [and the First Amendment], Developer acquired an equitable interest in that certain real property located at _______________________ in the City of Lake Elsinore, County of Riverside, State of California, Assessor Parcel Number ______________, which is within a manufacturing zoning district (the “Site”).

D. The Site is more particularly described in the Legal Description attached hereto as Exhibit A, and the Site is attached hereto as Exhibit B.

E. The total Cannabis Retail Business Floor Area (as defined below) is [ ] sq. ft. The total Non-Retail Cannabis Business Floor Area (as defined below) is [ ] sq. ft. The Floor Plan depicting the total floor area is attached hereto as Exhibit C.

F. Developer affirms that it has an equitable interest in the Site, evidenced by way of a lease with the Property Owner of the Site, [insert name].

G. The Property Owner have provided notarized written consent to the terms of this Amendment and the recordation thereof, attached hereto as Exhibit D.

H. Developer uses the Site for a Cannabis Business in accordance with California Cannabis Laws and the LEMC, as each may be amended from time to time (the “Project”). -2-
I. On __________ __, 2025, the City Council approved Ordinance No. 2025-____ amending the Lake Elsinore Municipal Code (“LEMC”) Chapter 17.156 to: (i) streamline the regulation of cannabis-related business; (ii) to limit the number of cannabis-related business in the City.

J. To strengthen the public planning process, encourage private participation in comprehensive planning, and reduce the economic risk of development, the California Legislature adopted Government Code section 65864 et seq. (the “Development Agreement Statute”), which authorizes the City and an individual with an interest in real property to enter into a development agreement that establishes certain development rights in real property that is subject to a development agreement application.

K. Consistent with the requirements of the Development Agreement Statute, the City adopted LEMC, Chapter 19.12 (“Development Agreement Ordinance”), authorizing the use of and establishing the procedures and requirements for the consideration of development agreements within the City along with amendments thereto. LEMC, Section 19.12.020, provides for amendments to a development agreement “is the same as the procedure for entering into an agreement in the first instance.” LEMC, Section 19.12.010 requires submittal of an application along with information and supporting data as requested by the Director of Community Development for consideration of any development agreement. Developer has satisfied this requirement.

L. On _________ __, 2025, the City of Lake Elsinore Planning Commission held a duly noticed public hearing to consider the application for this __________ Amendment and recommended to the City Council approval of this Amendment.

M. On ___________ __, 2025, the City Council held a duly noticed public hearing to consider this ______ Amendment and found and determined that this ___________ Amendment:
(a) is consistent with the objectives, policies, general land uses, and programs specified in the City’s General Plan and any applicable specific plan; (b) is compatible with the uses authorized in, and the regulations prescribed for the Site and the surrounding area and will not adversely affect the orderly development of the Site or the preservation of property values; (c) is in conformity with public convenience, general welfare, and good land use practices; (d) will have an overall positive effect on the health, safety and welfare of the residents of and visitors to the City; and (e) constitutes a lawful, present exercise of the City’s police power and authority under the Development Agreement Statute and Development Agreement Ordinance.

N. Based on the findings set forth in Recital __herein, the City Council entered into this Amendment pursuant to and in compliance with the requirements of the Development Agreement Statute and the Development Agreement Ordinance; and did, therefore, in approving this Amendment introduce for first reading Ordinance No. 2025-___ (the “Enabling Ordinance”).

On __________ __, 2025, the City Council conducted the second reading of the Enabling Ordinance, thereby approving this Amendment to become effective thirty (30) days after the adoption thereof.
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NOW, THEREFORE, in consideration of the mutual terms, obligations, promises, covenants, and conditions contained herein and for other valuable consideration, the sufficiency of which is hereby acknowledged, the Parties, and each of them, agree as follows:

SECTION 1. EXHIBITS
The Development Agreement has attached to it four exhibits designated alphabetically as Exhibit A through Exhibit D. Exhibits A through D of the Development Agreement shall remain in full force and effect except to the extent that the provisions of this Section 1 of the Second Amendment modify those Exhibits.

The following documents are referred to in this _______Amendment, attached hereto and incorporated herein by this reference:

Exhibit A Legal Description
Exhibit B Site Plan1
Exhibit C Floor Plan1
Exhibit D Property Owner’s Consent
1 The Approved Site Plan and Floor Plan exhibits are on file as a public record and available for review at the City of Lake Elsinore’s City Clerk’s Office located at 130 South Main Street, Lake Elsinore, CA 92530.

SECTION 2. REVISIONS TO DEFINITIONS
The words and phrases used in this ______Amendment as defined terms shall have the meaning set forth in Section 2 of the Development Agreement, except as added and/or modified below, which defined terms shall be applicable to both the Development Agreement and the ______Amendment.
“Amendment Effective Date” means the later of: (i) the latest date of execution shown on the signature page hereto; or (ii) the Effective Date of the Enabling Ordinance. The Amendment Effective Date does not amend the Effective Date as defined in the Development Agreement, nor does the Amendment Effective Date modify or change the “Term” or the “Term Commencement Date.”
“Cannabis Business License” or “Cannabis Business Permit” means the City license established and authorized by LEMC, Section 17.156.080, authorizing permissible Cannabis Business activity, which can only be issued upon City approval of a conditional use permit, development agreement, and Additional City Approvals for each proposed Cannabis Business activity project.
“Conditional Use Permit” means Conditional Use Permit No. ____-__ issued by the City to Developer pertaining to Developer’s original development of the Project and any subsequent amendments thereto. In the event that an amendment to the Conditional Use Permit -4-
pertaining to the Suite G Site has not been issued to the Developer as of the Amendment Effective Date, the City hereby reserves its discretion under the police power to approve, conditionally approve, or deny the issuance of any amendment to the Conditional Use Permit. “Development Regulations” means the following regulations as they are in effect as of the Effective Date and to the extent they govern or regulate the development of the Site, but excluding any amendment or modification to the Development Regulations adopted, approved, or imposed after the Effective Date that impairs or restricts Developer’s rights set forth in this Agreement, unless such amendment or modification is expressly authorized by this Agreement or is agreed to by Developer in writing: the City’s General Plan; any existing Specific Plan that include the Site, and, to the extent not expressly superseded by this Agreement, all other land use and subdivision regulations governing the permitted uses, density and intensity of use for obtaining required City permits and approvals for development, and similar matters that may apply to development of the Project on the Site during the Term of this Agreement that are set forth in Title 16 of the LEMC (Subdivisions), Title 17 of the LEMC (Zoning), except that Chapter 17.156 of Title 17 shall be as amended by Ordinance No. 2025-___, and Title 19 of the LEMC (Development). Notwithstanding the foregoing, the term “Development Regulations,” as used herein, does not include any City ordinance, resolution, code, rule, regulation, or official policy governing any of the following: (i) the conduct of businesses, professions, and occupations; (ii) taxes and assessments; (iii) the control and abatement of nuisances; (iv) the granting of encroachment permits and the conveyance of rights and interests which provide for the use of or the entry upon public property; (v) the exercise of the power of eminent domain; or (vi) the California Building Standards Codes.
“Cannabis Retail Business Floor Area” means interior gross floor area allocated and dedicated to the retail operation of a Cannabis Retail Business and shall include but not limited to reception or entrance lobby area for customer check-in, retail product storage room(s), office(s), and other ancillary area(s) to support the retail operation (including cannabis delivery). “Cannabis Non-Retail Business Floor Area” means interior gross floor area allocated and dedicated to the cannabis non-retail operation(s) of a Cannabis Non-Retail Business, such as cultivation, distribution, manufacturing, and/or testing laboratory, and shall include but not limited to storage room(s) of finished and raw products, office(s), and other ancillary area(s) to support the non-retail operation(s).

SECTION 3. REVISIONS TO GENERAL PROVISIONS
In order to update certain renumbering of the Lake Elsinore Municipal Code, subparts e and f of Section 1.8 of the Development Agreement entitled Termination are hereby amended to read as follows.
e. abandonment of the Developer’s Conditional Use Permit pursuant to LEMC, Section 17.415.070(D), including the failure of the Developer to commence operation of the Project on the Site within the time presented following the approval of the Conditional Use Permit;
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f. suspension or revocation of Developer’s Conditional Use Permit pursuant to LEMC, Section 17.415.070(G);
In order to address the potential for Developer modifications to the square footage of area allocated to the Cannabis Retail Business and/or Cannabis Non-Retail Business, Section 1.9(a) of the Development Agreement entitled Operating Memoranda; Amendment of Agreement is hereby amended to read as follows.
a. Operating Memoranda. The provisions of this Agreement require a close degree of cooperation between the City and the Developer. The Development of the Developer Property may demonstrate that clarifications to this Agreement and the Existing Land Use Regulations are appropriate with respect to the details of performance of the City and the Developer. To the extent allowable by law, the Developer shall retain a certain degree of flexibility as provided herein with respect to all matters, items and provisions covered in general under this Agreement, except for those which relate to the (i) term; or (ii) permitted uses. When and if the Developer finds it necessary or appropriate to make changes, adjustments or clarifications to matters, items or provisions not enumerated in (i) through (ii) above, the Parties shall effectuate such changes, adjustments or clarifications through operating memoranda (the “Operating Memoranda”) approved by the Parties in writing which reference this Section 1.9(a). Operating Memoranda are not intended to constitute an amendment to this Agreement but mere ministerial clarifications; therefore public notices and hearings shall not be required. The City Manager shall be authorized, upon consultation with, and approval of, the Developer, to determine whether a requested clarification may be effectuated pursuant to this Section or whether the requested clarification is of such character to constitute an amendment to this Agreement which requires compliance with the provisions of Section 1.9(b) below. The Parties agree that proposed changes to the Cannabis Retail Business Floor Area and/or the Cannabis Non-Retail Business Floor Area may be addressed by way of an Operating Memoranda and shall generally include and be evidenced by an updated Floor Plan (Exhibit C) reflecting such changes.

SECTION 4. REVISIONS TO COMMUNITY BENEFITS FEE
Section 4.2 of the Development Agreement entitled Community Benefits Fee is hereby amended to add the following subparts c and d:
c. Community Benefits Fee Upon the Amendment Effective Date.

Notwithstanding subparts (a) and (b) above, concurrent with the Amendment Effective Date, and on each anniversary thereafter, Developer shall make payment to the City pursuant to the following fee schedule:
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All Cannabis Business
activities
$[insert rate as of 6/30/25] per square foot
of area allocated to the Cannabis Retail
Business with an annual 4% increase but
in no event to exceed $25 per square foot;
and
$5 per square foot of area allocated to
Cannabis Non-Retail Business with no
annual increase as provided in subpart d.

Developer may elect to make payments of the Community Benefit Fee due on the Amendment Effective Date and each Adjustment Date (as defined herein) in up to 12 (monthly) equal installments, the first installment to be made on the Amendment Effective Date or Adjustment Date, as applicable. Installment payment plans shall be evidenced by separate agreements of the Parties.
d. Annual Increase. In order to account for the increasing cost of providing City services, the Community Benefits Fee set forth in Section 4.2(c) for any Cannabis Retail Business shall be increased annually commencing on each anniversary of the Amendment Effective Date (each of which day shall be continued to be referred to as an “Adjustment Date”) until said fee reaches $25 per square foot of Floor Area. Each Adjustment Date shall be continued to be numbered in sequence (e.g., Third Adjustment Date, Fourth Adjustment Date, etc.).

The annual increase shall not apply to the area allocated and dedicated to any Cannabis Non-Retail Business. Each such annual increase in the Community Benefits Fee shall be determined as follows:

Article 4 of the Development Agreement is hereby amended to add the following Section

4.5:

4.5 Tax Payment and Facility Payment Offset.
a. In the event that the voters of the City of Lake Elsinore approve a Cannabis business tax or any percentage of gross receipts based fee, Developer shall pay the amount established by any such measure or initiative (“Tax Payment”) in accordance with any procedure so established by the City, provided, however, that Developer shall be entitled to an offset, dollar for dollar, of such Tax Payment against the Community Benefit Fee then owing or, alternatively, if the Community Benefit Fee then owing is insufficient to fully satisfy the offset as provided herein, such unsatisfied offset shall be a credit against the payment of any future Community Benefit Fee until such offset is fully satisfied. b. In the event that the voters of the City of Lake Elsinore or the City Council approve a fee based on the square footage of premises where permitted commercial cannabis activities, Developer shall pay the amount established thereby -7-
(“Facility Payment”) in accordance with any procedure so established by the City, provided, however, that Developer shall be entitled to an offset, dollar for dollar, of such Facility Payment against the Community Benefit Fee then owing or, alternatively, if the Community Benefit Fee then owing is insufficient to fully satisfy the offset as provided herein, such unsatisfied offset shall be a credit against the payment of any future Community Benefit Fee until such offset is fully satisfied.
c. Imposition of a Tax Payment and/or a Facility Payment obligation by the City or the voters of the City of Lake Elsinore shall not relieve Developer of its obligation to pay the Community Benefit Fee except for the offset as set forth in Sections 4.5.a, 4.5.b, 4.5.c, and 4.5.d above.

SECTION 5. ADDITIONAL PROVISIONS

5.1 Release. In consideration for this ______________ Amendment and the provisions as set forth herein, and subject to the City Council approving/adopting this ______________ Amendment Developer, on behalf of itself and its respective successors, assigns, officials, directors, officers, employees, insurers, lenders, lien holders, attorneys, agents, and other representatives, do hereby release the City as any and all claims, actions and causes of action, obligations, liabilities, indebtedness, breaches of duty, claims for injunctive and other equitable relief, suits, liens, losses, costs or expenses, including attorney’s fees, of any nature whatsoever, known or unknown, fixed or contingent as of the Amendment Effective Date.

5.2 Counterparts. This ______________ Amendment may be executed in counterparts, each of which so executed shall be deemed an original, and such counterparts together shall constitute but one ______________ Amendment.

5.3 No Other Changes. Except as modified by this ______________ Amendment, the terms and conditions of the Original Development Agreement, remain in full force and effect and shall be incorporated as a part of and interpreted as one integrated agreement covering the subjects included therein. If there are any conflicts between the provisions of this ______________ Amendment and the original Development Agreement, the provisions of this ______________ Amendment shall control.

5.4 Recordation by City Clerk. Pursuant to Government Code Section 65868.5, within ten (10) days of execution of this ______________ Amendment by the Parties, the City Clerk shall record a copy with the Riverside County Recorder. Thereafter, pursuant to Government Code Section 65868.5, the burdens of the ______________ Amendment shall be binding upon, and the benefits of the agreement shall inure to, all successors in interest to the Parties to the ______________ Amendment.
[SIGNATURES ON NEXT PAGE]
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IN WITNESS WHEREOF, the Parties have executed this ______________ Amendment as of the dates set forth below.
“CITY”

CITY OF LAKE ELSINORE,
a municipal corporation
Date: By:

Mayor
ATTEST:

By:

Candice Alvarez, MMC, City Clerk
APPROVED AS TO FORM:

By:

David Mann, Acting City Attorney
“DEVELOPER”
____________________________,
a ___________________
Date: By:
_______________, Its: ____________

STATE OF CALIFORNIA )
) §
County of )
On , before me, a
Notary Public, personally appeared who proved to me on
the basis of satisfactory 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.

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.

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 of Notary
(Affix seal here)
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.

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EXHIBIT A

LEGAL DESCRIPTION
The real property referred to herein is situated in the County of Riverside, City of Lake Elsinore, State of California, and is described as follows:

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EXHIBIT B

SITE PLAN
[TO BE INSERTED]

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EXHIBIT C

FLOOR PLAN
[Delineated to Show Cannabis Retail Business Area versus Non-Retail Area(s)] [TO BE INSERTED]

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EXHIBIT D
PROPERTY OWNER’S CONSENT
[ATTACHED]

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PROPERTY OWNER’S CONSENT
__________________________, a California ________________, being the owner of the real properties described in Exhibit A to this ____________ Amendment to Development Agreement by and between the City of Lake Elsinore and ______________________, dated for identification as of ________________, 2025 (the “________ Amendment”), do hereby consent to the recordation of said ____________ Amendment in the Official Records of the County of Riverside. ____________________________,
a ___________________
Date: By:
_______________, Its: ____________
[notary required]

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REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Candice Alvarez, MMC, City Clerk
Date: March 24, 2026
Subject: Second Reading of an Ordinance Amending and Restating Chapter 8.44 of the Lake Elsinore Municipal Code Regarding Bowfishing on Lake Elsinore Recommendation
Adopt by title only and waive further reading of AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, AMENDING AND RESTATING CHAPTER 8.44

OF THE LAKE ELSINORE MUNICIPAL CODE REGARDING BOWFISHING ON LAKE ELSINORE.

Background/Discussion
At its Regular meeting on March 10, 2026, the City Council introduced by title only and waived further reading of the Ordinance.

Attachment
Attachment 1 – Ordinance
ORDINANCE NO. 2026-1530

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, AMENDING AND RESTATING CHAPTER 8.44 OF THE LAKE

ELSINORE MUNICIPAL CODE REGARDING BOWFISHING ON LAKE

ELSINORE
Whereas, the City Council of the City of Lake Elsinore desires to revise the existing restrictions regarding bow fishing at Lake Elsinore, as established under Section 8.44.075 of the Lake Elsinore Municipal Code (LEMC);
Whereas, the City Council has considered the recommendation of the City Attorney as well as evidence presented by interested parties with respect to this item.

NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE DOES ORDAIN AS FOLLOWS:

Section 1: The foregoing recitals are true and correct and are hereby incorporated into these findings by this reference.

Section 2: The City Council has reviewed and analyzed the proposed amendment to the LEMC and finds and determines that the ordinance will not be detrimental to the public interest, health, safety, convenience, or general welfare of the city; and that it is internally consistent with other applicable provisions of the LEMC.

Section 3: The City Council hereby finds and determines that the proposed amendment to the LEMC is exempt from the California Environmental Quality Act (Cal. Publ. Res. Code §§21000 et seq. “CEQA”) and the State CEQA Guidelines (14. Cal. Code Regs §§15000 et seq.), specifically pursuant to Sections 15060(c)(2), 15060(c)(3), and 15061(b)(3) of the State CEQA Guidelines because it will not result in a direct or reasonably foreseeable indirect physical change in the environment, because there is no possibility that it may have a significant effect on the environment, and because it is not a “project” as that term is defined in Section 15378 of the State CEQA Guidelines.

Section 4: Chapter 8.44 of the Lake Elsinore Municipal Code is hereby amended and restated in its entirety to read as follows:

Chapter 8.44

FISHING ON LAKE ELSINORE
Sections:

8.44.010 Purpose.

8.44.020 Definitions.

8.44.030 Fishing license.

8.44.040 Size and fish quantity limits.

8.44.050 Fishing in restricted areas.

8.44.060 Fishing hours.

8.44.070 Restrictions on fishing methods.

8.44.075 Bow fishing.

8.44.080 Cleaning of fish.

Ord. No. 2026-1530

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8.44.090 Fishing near fish habitat areas.

8.44.100 Enforcement
Prior legislation: Ordinances 606 and 615.

8.44.010 Purpose.

The purpose of this chapter is to provide rules and regulations for fishing activities on and around Lake Elsinore (hereinafter referred to as “the lake”). [Ord. 1354 § 1, 2016].

8.44.020 Definitions.
“Bow fishing” means tackle that must have the arrow’s shaft or the point, or both, securely attached by a line to the bow or to a fishing reel (includes crossbow). “California Freshwater Sport Fishing Regulations” means the publication of the same name by the California Department of Fish and Wildlife, setting forth the provisions of the California Fish and Game Code and Title 14 of the California Code of Regulations related to freshwater fishing. “City Manager” means the City Manager of the City of Lake Elsinore or the City Manager’s designee.
“Take” means hunt, pursue, catch, capture, or kill, or attempt to hunt, pursue, catch, capture, or kill. [Ord. 1354 § 1, 2016].

8.44.030 Fishing license.

A. All persons 16 years of age and older must have in their possession a valid California sport fishing license to take any kind of fish from the lake.

B. Every person, while engaged in taking any fish from the lake, shall display a valid sport fishing license by attaching it to their outer clothing at or above the waistline so that it is plainly visible. [Ord. 1354 § 1, 2016; Ord. 1053 § II, 1999. Formerly 8.44.010].

8.44.040 Size and fish quantity limits.

A. No fish less than the legal minimum size as set forth in the current California Freshwater Sport Fishing Regulations may be taken from the lake.

B. No person shall retain any fish from the lake in excess of the bag limit set forth in the current California Freshwater Sport Fishing Regulations.

C. Fish caught that do not meet the legal minimum size set forth in the current California Freshwater Sport Fishing Regulations or are caught in excess of the bag limits set forth in the current California Freshwater Sport Fishing Regulations shall be immediately released back into the water. [Ord. 1354 § 1, 2016; Ord. 1060 § I, 2000; Ord. 1053 § II, 1999.

Formerly 8.44.020].

8.44.050 Fishing in restricted areas.

No person shall fish in restricted areas unless authorized by the City Manager. [Ord. 1354 § 1, 2016; Ord. 1053 § II, 1999. Formerly 8.44.030].

8.44.060 Fishing hours.

Ord. No. 2026-1530

Page 3 of 5 ends

Fishing at designated public beaches is only allowed between the hours of 6:00 a.m. and 10:00 p.m. daily. Fishing by boat is permitted from sunrise to sunset, unless authorization has been obtained from the City Manager. [Ord. 1354 § 1, 2016; Ord. 1053 § II, 1999. Formerly 8.44.040].

8.44.070 Restrictions on fishing methods.

A. No person shall fish by means of a seine or cast net unless authorized by the City Manager.

B. All persons shall fish with only one pole, unless they have purchased a second-rod sport fishing validation as provided by California Fish and Game Code Section 7149.45. Anglers in possession of a second-rod sport fishing validation and anglers under 16 years of age may use up to two rods. [Ord. 1354 § 1, 2016; Ord. 1053 § II, 1999. Formerly 8.44.050].

8.44.075 Bow fishing.

A. Bow fishing is permitted by vessel upon the surface of the lake, except within wading areas, marinas, and boating channels.

B. Bow fishing by persons walking or wading along the shoreline is permitted only upon that portion of the levee system between Shoreline Zone Identification Sign SS2 to Rome Hill.

C. Bow fishing is restricted to fishing for carp only.

D. Bow fishing is prohibited within 100 feet of any person or domesticated animal outside the vessel of the person bow fishing or adjacent to the person bow fishing by shoreline.

E. Children 15 years of age or younger are required to be accompanied by an adult in order to bow fish.

F. All fish taken by bow fishing shall be removed from the lake and disposed of in a proper manner. Proper disposal of such fish shall include disposal at City-designated fish disposal bins. Disposal of carp into the lake, upon the shoreline of the lake, or in public trashcans other than designated fish disposal bins is prohibited.

G. It is unlawful for any person to carry a bow used for bow fishing in a ready or armed position when not on or in the permitted areas of the lake set forth in subsections (A) and (B) of this section. A bow shall be deemed ready or armed unless it shall be in a harmless position incapable of projecting arrows or other dangerous projectiles.

H. The provisions of subsections A through F in this section are subject to waiver by the City for bow fishing events as determined by the City Manager, subject to such events being authorized pursuant to a special event permit as provided in Chapter 5.108 LEMC. [Ord. 1354 § 1, 2016; Ord. 1275 § 1, 2010. Formerly 8.44.055].

8.44.080 Cleaning of fish.

Cleaning of fish on the water or shoreline is prohibited, unless in a designated cleaning area. [Ord. 1354 § 1, 2016; Ord. 1053 § II, 1999. Formerly 8.44.070].

8.44.090 Fishing near fish habitat areas.

Fishing within 25 feet of marked buoyed fish habitat areas is prohibited. [Ord. 1354 § 1, 2016; Ord. 1053 § II, 1999. Formerly 8.44.080].

Ord. No. 2026-1530

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8.44.100 Enforcement
Any violation of this chapter shall be assessed administrative fines in the following amounts:

1. An administrative fine not exceeding $250.00 for a first violation.

2. An administrative fine not exceeding $500.00 for a second violation within one year of the first violation.

3. An administrative fine not exceeding $1,000 for each additional violation within one year of the first violation.

Section 6: Effective Date. This Ordinance shall become effective at 12:01 a.m. on the thirty-first (31st) day after the date of adoption.

Section 7: Certification. The City Clerk shall certify to the passage of this Ordinance and shall cause a synopsis of the same to be published according to law.

PASSED, APPROVED, AND ADOPTED at a regular meeting of the City Council of the City of Lake Elsinore, California, on this 24th day of March 2026.

Robert E. Magee
Mayor
Attest:

Candice Alvarez, MMC
City Clerk
Ord. No. 2026-1530

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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.

CITY OF LAKE ELSINORE )
I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, California, do hereby certify that Ordinance No. 2026-1530 was introduced by the City Council of the City of Lake Elsinore, California, at the Regular meeting of March 10, 2026 and adopted at the Regular meeting of March 24, 2026 and that the same was adopted by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:

Candice Alvarez, MMC
City Clerk

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REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Shannon Buckley, Assistant City Manager
Date: March 24, 2026
Subject: Amendments to the On-Call Agreements in Support of the City‘s Construction and Maintenance Operations
Recommendation
Approve and authorize the City Manager to executed Amendment No. 3 to the On-Call Contractor Services Agreements for Minor Construction and Repair Services with Endresen Development, Inc. to increase compensation by an additional not to exceed amount of $600,000 annually, with Cotter Construction, Inc. to increase compensation by an additional not to exceed amount of $500,000 annually, and with B&B Nurseries, Inc. (dba Landscape Center) to increase compensation by an additional not to exceed amount of $325,000 annually, in such final form as approved by the City Attorney.

Background
On-call contracts allow the City to mobilize maintenance and construction services quickly and efficiently under pre-negotiated terms and conditions. The City may require services due to an urgent matter or because the City is unable to provide or perform those services internally. For a City who needs to engage a general or specific maintenance or construction service, the benefits of having an on-call contract in place include:

Wide span of technical expertise
Resource availability and flexibility
Commitments as needed for services
Accelerated procurement and authorization

On-Call Contracts Amendment No. 3

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Independent and objective assessments and proposals
Validation of resolution-oriented actions
On January 9, 2024, the City Council approve the on-call minor construction contractor services agreement, 1st amendments and 2nd amendments on February 24, 2026, between City of Lake Elsinore and the below list of contractors with not to exceed contract annual amounts:

Contractor Annual Amount
Endresen Development Inc. $600,000
Cotter Construction Inc. $500,000
B&B Nurseries Inc. (dba Landscape Center) $325,000
Discussion
The on-call and minor construction services in Lake Elsinore are essential to maintaining City amenities and efficiently constructing low-cost projects. Amendment No.3 will further establish the not exceed contract amount for the on-call services at the amounts established in amendment No 1. These on-call contractors will perform various on-call repairs and specific construction scopes of work. All assigned work will be proposed in writing, reviewed, negotiated by Staff, and approved before execution. Several of these contractors have performed as both contractors and sub-contractors on several large City and Agency projects at the Diamond Stadium, Rosetta Canyon Sports Park, Launch Pointe RV Resort, City Hall, The Neighborhood Community Center, Camino Del Norte, Anchor, and various other City projects. These amendments are needed to ensure continued on-call and minor construction contractor support for immediate operational demands and minor construction projects.

Fiscal Impact
Funds are budgeted in the Fiscal Year 2025/26 budget.

Attachments
Attachment 1 – Endresen Amendment No. 3
Attachment 2 – Endresen Amendment No. 2
Attachment 3 – Endresen Amendment No. 1
Attachment 4 – Endresen Original Agreement
Attachment 5 – Cotter Amendment No. 3
Attachment 6 – Cotter Amendment No. 2
Attachment 7 – Cotter Amendment No. 1
Attachment 8 – Cotter Original Agreement
Attachment 9 – B&B Nurseries Amendment No. 3
Attachment 10 – B&B Nurseries Amendment No. 2
Attachment 11 – B&B Nurseries Amendment No. 1
Attachment 12 – B&B Nurseries Original Agreement
AMENDMENT NO. 3

TO AGREEMENT FOR ON-CALL SERVICES
Endresen Development Inc.

This Amendment No. 3 to Agreement for On-Call Services is made and entered into as of 3/24/2026, by and between the City of Lake Elsinore, a municipal corporation (“City), and Endresen Development Inc., a (“Contractor”).

RECITALS
A. The City and Contractor have entered into that certain Agreement for on call services dated as of 1/24/2023, (the “Original Agreement”). Except as otherwise defined herein, all capitalized terms used herein shall have the meanings set forth for such terms in the Original Agreement.

B. The Original Agreement provided for compensation to Contractor in an amount of three hundred and fifty thousand dollars and no cents ($350,000.00).

C. The Original Agreement had a term of one year with two one-year renewal options, commencing on 1/24/2023 and ending on 6/30/2023.

D. Amendment No. 1 approved on January 9, 2024, increased Contractor compensation in an amount of $250,000.

E. Amendment No. 2 approved on February 10, 2026, extended the term to June 30, 2027.

F. The parties now desire to increase payment for such services as set forth in this Amendment No 3.

NOW, THEREFORE, in consideration of the mutual covenants and conditions set forth herein, City and Contractor agree as follows:

1. Section 3, Compensation, of the Original Agreement is hereby amended to read in its entirety as follows:

Notwithstanding the foregoing, for purposes of Amendment No. 3 and the term thereof, compensation to be paid to Contractor shall be in accordance with the Schedule of Charges set forth in Contractor ’s Proposal (Exhibit A).

In no event shall Contractor ’s annual compensation related to Exhibit A exceed one million two hundred thousand dollars ($1,200,000) without additional written authorization from the City Council.

Notwithstanding any provision of Contractor ’s Proposal to the contrary, out of pocket expenses set forth in Exhibit A respectively, shall be reimbursed at cost without an inflator or administrative charge. Payment by City under this Agreement shall not be deemed a waiver of defects, even if such defects were known to the City at the time of payment.

2. Except for the changes specifically set forth herein, all other terms and conditions of the Original Agreement as amended by amendment No. 3 shall remain in full force and effect.

IN WITNESS WHEREOF, the parties have caused this Amendment No. 3 to be executed on the respective dates set forth below.
“CITY”
CITY OF LAKE ELSINORE, a municipal
corporation
“CONTRACTOR”
Endresen Development Inc.

City Manager
Date:

Josh Endresen, Owner
Date: __
ATTEST:

City Clerk
APPROVED AS TO FORM:

City Attorney

Assistant City Manager
EXHIBIT A-1
CONTRACTOR’S PROPOSAL
[ATTACHED]
AMENDMENT NO. 2

TO AGREEMENT FOR ON-CALL SERVICES
Endresen Development Inc.

This Amendment No. 2 to Agreement for On-Call Services is made and entered into as of 2/10/2026, by and between the City of Lake Elsinore, a municipal corporation (“City), and Endresen Development Inc., a (“Contractor”).

B. The Original Agreement provided for compensation to Contractor in an amount of three hundred and fifty thousand dollars and no cents ($350,000.00).

C. The Original Agreement had a term of one year with two one-year renewal options, commencing on 1/24/2023 and ending on 6/30/2023.

D. Amendment No. 1 approved on January 9, 2024, increased Contractor compensation in an amount of $250,000.

E. The parties now desire to amend the term as set forth in this Amendment No 2.

NOW, THEREFORE, in consideration of the mutual covenants and conditions set forth herein, City and Contractor agree as follows:

1. Section 2c, Term and Compliance Task/Work Order System, of the Original Agreement is hereby amended to read in its entirety as follows:

Unless earlier terminated as provided elsewhere in this Agreement, this Agreement shall continue in full force and effect for a period commencing January 24, 2023 and ending June 30, 2027.

Contractor hereby agrees and acknowledges that any and all work or services performed pursuant to this Agreement shall be based upon the issuance of a Task/Work Order by the City. Contractor acknowledges that it is not guaranteed any minimum or specific amount of work or services as all work or services shall be authorized through a Task/Work Order issued by the City.

2. Except for the changes specifically set forth herein, all other terms and conditions of the Original Agreement as amended by amendment No. 1 shall remain in full force and effect.

IN WITNESS WHEREOF, the parties have caused this Amendment No. 2 to be executed on the respective dates set forth below.
“CITY”
CITY OF LAKE ELSINORE, a municipal
corporation
“CONTRACTOR”
Endresen Development Inc.

City Manager
Date:

Josh Endresen, Owner
Date: __
ATTEST:

City Clerk
APPROVED AS TO FORM:

City Attorney

Assistant City Manager
Attachments: Amendment No.1
EXHIBIT A-1
CONTRACTOR’S PROPOSAL
[ATTACHED]
AMENDMENT NO. 1

TO AGREEMENT FOR CONTRACTOR SERVICES
Endresen Development Inc.

ON-CALL SERVICES
This Amendment No. 1 to Agreement for On-Call Services is made and entered into as of 1/9/2024, by and between the City of Lake Elsinore, a municipal corporation (“City), and Endresen Development Inc., a (“Contractor”).

B. The Original Agreement provided for compensation to Contractor in an amount of three hundred and fifty thousand dollars and no cents ($350,000.00).

C. The Original Agreement had a term of one year with three one-year renewal options, commencing on 1/24/2023 and ending on 6/30/2024.

D. The parties now desire to amend the agreement and increase the payment for such services as set forth in this Amendment No 1.

NOW, THEREFORE, in consideration of the mutual covenants and conditions set forth herein, City and Contractor agree as follows:

1. Section 3, Compensation, of the Original Agreement is hereby amended to read in its entirety as follows:

Notwithstanding the foregoing, for purposes of Amendment No. 1 and the term thereof, compensation to be paid to Contractor shall be in accordance with the Schedule of Charges set forth in Contractor’s Proposal (referenced collectively as Exhibit A-1 Amendment No. 1). In no event shall Contractor’s compensation related to Exhibit A-1 to Amendment No. 1 exceed two hundred fifty thousand dollars and no cents ($250,000.00) without additional written authorization from the City Council. Annual compensation during each renewal term, if any, shall not exceed six hundred thousand Dollars ($600,000.00).

Notwithstanding any provision of Contractor’s Proposal to the contrary, out of pocket expenses set forth in Exhibit A-1 respectively, shall be reimbursed at cost without an inflator or administrative charge. Payment by City under this Agreement shall not be deemed a waiver of defects, even if such defects were known to the City at the time of payment.

2. Except for the changes specifically set forth herein, all other terms and conditions of the Original Agreement shall remain in full force and effect.

IN WITNESS WHEREOF, the parties have caused this Amendment No. 1 to be executed on the respective dates set forth below.
“CITY”
CITY OF LAKE ELSINORE, a municipal
corporation
“CONTRACTOR”
Endresen Development Inc.

City Manager
Date:

Josh Endresen, Owner
Date: __
ATTEST:

City Clerk
APPROVED AS TO FORM:

City Attorney

Assistant City Manager
Attachments: Exhibit A-1 – Contractor’s Proposal
EXHIBIT A-1
CONTRACTOR’S PROPOSAL
[ATTACHED]
DocuSign Envelope ID: 052A75D2- CE4A- 4142- BFB4- 47A93550EA02

AGREEMENT FOR CONTRACTOR SERVICES
Endresen Development Inc.

ON- CALL SERVICES
This Agreement for Contractor Services ( On -Call) ( the " Agreement") is made and entered into as of January 24, 2023 by and between the City of Lake Elsinore, a municipal corporation ( the " City") and Endresen Development Inc., a Licensed General Contractor ( the " Contractor").

RECITALS
A. The City has determined that it requires the following services:

On- call minor construction and repair services
B. The City has prepared a request for a proposals and Contractor has submitted to City a proposal, dated August 8, 2022, both of which are attached hereto as Exhibit A (collectively, the " Contractor's Proposal") and incorporated herein, to provide services and related work to the City pursuant to the terms of this Agreement.

C. Contractor possesses the skill, experience, ability, background, certification and knowledge to perform the services and related work described in this Agreement on the terms and conditions Agreement.

AGREEMENT
I . Scope of Services. Contractor shall perform the services and related work described in Contractor' s Proposal ( Exhibit A). Contractor shall provide such services and related work at the time, place, and in the manner specified in Contractor' s Proposal ( Exhibit A), subject to the direction of the City through its staff that it may provide from time to time. Contractor acknowledges that the Scope of Services provides for 24 hour -a -day, 7 day -a -week, on- call and minor construction support on an as needed basis.

2. Time of Performance.
a. Time of Essence. Time is of the essence in the performance of this Agreement. The time for completion of the services and related work to be performed by Contractor is an essential condition of this Agreement. Contractor shall prosecute regularly and diligently the services and related work contemplated pursuant to this Agreement consistent with Contractor' s Proposal ( Exhibit A) and shall provide, furnish and pay all labor, materials, necessary tools, expendable equipment, and all taxes, utility and transportation services required to perform such the services and related work.
b. Performance Schedule. Contractor shall commence the services and related work pursuant to this Agreement upon receipt of a written notice to proceed and shall perform all services and related work within the time period( s) established in the Contractor' s Proposal ( Exhibit A). When requested by Contractor, extensions to the time period( s) specified may be approved in writing by the City Manager.

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DocuSign Envelope ID: 052A75D2- CE4A- 4142- BFB4- 47A93550EA02 C. Term and Compliance with TaskfVVork Order System. Unless earlier terminated as provided elsewhere in this Agreement, this Agreement shall continue in full force and effect for a period commencing on January 24, 2023 and ending June 30, 2023. The City may, at its sole discretion, extend the term of this Agreement on a 12 -month basis not to exceed 2 additional twelve ( 12) month renewal terms by giving written notice thereof to Contractor not less than thirty 30) days before the end of the contract term, such notice to be exercised by the City Manager.

3. Compensation. Compensation to be paid to Contractor shall be in accordance with the fees set forth in Contractor' s Proposal ( Exhibit A), which is attached hereto and incorporated herein by reference. In no event shall Contractor' s annual compensation exceed for three hundred fifty thousand dollars and no cents ($ 350, 000. 00) without additional written authorization from the City. Notwithstanding any provision of Contractor's Proposal to the contrary, out of pocket expenses set forth in Exhibit A shall be reimbursed at cost without an inflator or administrative charge. Payment by City under this Agreement shall not be deemed a waiver of defects, even if such defects were known to the City at the time of payment.

4. Method of Payment. Contractor shall promptly submit billings to the City describing the services and related work performed during the preceding month to the extent that such services and related work were performed. Contractor' s bills shall be segregated by project task, if applicable, such that the City receives a separate accounting for work done on each individual task for which Contractor provides services. Contractor' s bills shall include a brief description of the services performed, the date the services were performed, the number of hours spent and by whom, and a description of any reimbursable expenditures. City shall pay Contractor no later than forty-five (45) days after receipt of the monthly invoice by City staff.

5. Background Checks. At any time during the term of this Agreement, the City reserves the right to make an independent investigation into the background of Contractor' s personnel who perform work required by this Agreement, including but not limited to their references, character, address history, past employment, education, social security number validation, and criminal or police records, for the purpose of confirming that such personnel are lawfully employed, qualified to provide the subject service or pose a risk to the safety of persons or property in and around the vicinity of where the services will be rendered or City Hall. If the City makes a reasonable determination that any of Contractor' s prospective or then current personnel is deemed objectionable, then the City may notify Contractor of the same.

Contractor shall not use that personnel to perform work required by this Agreement, and if necessary, shall replace him or her with a suitable worker.

6. Suspension or Termination.
a. The City may at any time, for any reason, with or without cause, suspend or terminate this Agreement, or any portion hereof, by serving upon the Contractor at least ten ( 10) days prior written notice. Upon receipt of such notice, the Contractor shall immediately cease all work under this Agreement, unless the notice provides otherwise. If the City suspends or terminates a portion of this Agreement, such suspension or termination shall not make void or invalidate the remainder of this Agreement.
b. In the event this Agreement is terminated pursuant to this Section, the City shall pay to Contractor the actual value of the work performed up to the time of termination, provided that the work performed is of value to the City. Upon termination of the Agreement pursuant to this

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DocuSign Envelope ID: 052A75D2- CE4A- 4142- BFB4- 47A93550EA02 Section, the Contractor will submit an invoice to the City, pursuant to Section entitled " Method of Payment" herein.

7. Plans, Reports. Documents
a. Ownership of Documents. All plans, studies, documents and other writings prepared by and for Contractor, its officers, employees and agents and subcontractors in the course of implementing this Agreement, except working notepad internal documents, shall become the property of the City upon payment to Contractor for such work, and the City shall have the sole right to use such materials in its discretion without further compensation to Contractor or to any other party. Contractor shall, at Contractor' s expense, provide such reports, plans, studies, documents and other writings to City upon written request. City shall have sole determination of the public's rights to documents under the Public Records Act, and any third -party requests of Contractor shall be immediately referred to City, without any other actions by Contractor. b. Licensing of Intellectual Propertx. This Agreement creates a nonexclusive and perpetual license for City to copy, use, modify, reuse, or sublicense any and all copyrights, designs, and other intellectual property embodied in plans, specifications, studies, drawings, estimates, and other documents or works of authorship fixed in any tangible medium of expression, including but not limited to, physical drawings or data magnetically or otherwise recorded on computer diskettes, which are prepared or caused to be prepared by Contractor under this Agreement (" Documents & Data"). Contractor shall require that all subcontractors agree in writing that City is granted a nonexclusive and perpetual license for any Documents & Data the subcontractor prepares under this Agreement. Contractor represents and warrants that Contractor has the legal right to license any and all Documents & Data. Contractor makes no such representation and warranty in regard to Documents & Data, which were prepared by design professionals otherthan Contractor or provided, to Contractor by the City. City shall not be limited in any way in its use of the Documents & Data at any time, provided that any such use not within the purposes intended by this Agreement shall be at City' s sole risk.

C. Confidentiality. All ideas, memoranda, specifications, plans, procedures, drawings, descriptions, computer program data, input record data, written information, and other Documents & Data either created by or provided to Contractor in connection with the performance of this Agreement shall be held confidential by Contractor. Contractor shall not, without the prior written consent of City, use such materials for any purposes other than the performance of the services under this Agreement. Nor shall such materials be disclosed to any person or entity not connected with the performance of the services under this Agreement. Nothing furnished to Contractor, which is otherwise known to Contractor or is generally known, or has become known, to the related industry shall be deemed confidential. Contractor shall not use City' s name or insignia, photographs relating to project for which Contractor' s services are rendered, or any publicity pertaining to the Contractor' s services under this Agreement in any magazine, trade paper, newspaper, television or radio production or other similar medium without the prior written consent of City.

8. Contractor' s Books and Records.
a. Contractor shall maintain any and all ledgers, books of account, invoices, vouchers, canceled checks, and other records or documents evidencing or relating to charges for services, or expenditures and disbursements charged to City for a minimum period of three (3) years, or for any longer period required by law, from the date of final payment to Contractor to this Agreement.
b. Contractor shall maintain all documents and records which demonstrate performance under this Agreement for a minimum period of three ( 3) years, or for any longer period

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DocuSign Envelope ID: 052A75D2- CE4A- 4142- BFB4- 47A93550EA02 required by law, from the date of termination or completion of this Agreement.

G. Any records or documents required to be maintained pursuant to this Agreement shall be made available far inspection or audit, at any time during regular business hours, upon written request by the City Manager, City Attorney, City Auditor or a designated representative of these officers. Copies of such documents shall be provided to the City for inspection at City Hall when it is practical to do so. Otherwise, unless an alternative is mutually agreed upon, the records shall be available at Contractor' s address indicated for receipt of notices in this Agreement. d. Where City has reason to believe that such records or documents may be lost or discarded due to dissolution, disbandment or termination of Contractor' s business, City may, by written request by any of the above- named officers, require that custody of the records be given to the City and that the records and documents be maintained in City Hall. Access to such records and documents shall be granted to any party authorized by Contractor, Contractor's representatives, or Contractor' s successor - in -interest.

9. Independent Contractor.
a. Contractor is and shall at all times remain as to the City a wholly independent contractor pursuant to California Labor Code Section 3353. The personnel performing the services under this Agreement on behalf of Contractor shall at all times be under Contractor' s exclusive direction and control. Neither City nor any of its officers, employees, or agents shall have control over the conduct of Contractor or any of Contractor' s officers, employees, or agents, except as set forth in this Agreement. Contractor shall not at any time or in any manner represent that it or any of its officers, employees, or agents are in any manner officers, employees, or agents of the City.

Contractor shall not incur or have the power to incur any debt, obligation, or liability whatsoever against City, or bind City in any manner.
b. Notwithstanding any other federal, state and local laws, codes, ordinances and regulations to the contrary, Contractor and any of its employees, agents, and subcontractors providing service under this Agreement shall not qualify for or become entitled to, and hereby agree to waive any claims to, any compensation, benefit, or any incident of employment by City, including but not limited to eligibility to enroll in PERS as an employee of City and entitlement to any contribution to be paid by City for employer contribution and/ or employee contributions for PERS benefits.

19. PERS Eligibility Indemnification. In the event that Contractor or any employee, agent, or subcontractor of Contractor providing services under this Agreement claims or is determined by a court of competent jurisdiction or the California Public Employees Retirement System ( PERS) to be eligible for enrollment in PERS as an employee of the City, Contractor shall indemnify, defend, and hold harmless City for the payment of any employee and/ or employer contributions for PERS benefits on behalf of Contractor or its employees, agents, or subcontractors, as well as for the payment of any penalties and interest on such contributions, which would otherwise be the responsibility of City.

11. Interests of Contractor. Contractor ( including principals, associates and management employees) covenants and represents that it does not now have any investment or interest in real property and shall not acquire any interest, direct or indirect, in the area covered by this Agreement or any other source of income, interest in real property or investment which would be affected in any manner or degree by the performance of Contractor' s services hereunder. Contractor further covenants and represents that in the performance of its duties hereunder no person having any such interest shall perform any services under this Agreement.

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DocuSign Envelope ID: 052A75D2- CE4A- 4142- BFB4- 47A93550EA02 Contractor is not a designated employee within the meaning of the Political Reform Act because Contractor:
a. will conduct research and arrive at conclusions with respect to his/ her rendition of information, advice, recommendation or counsel independent of the control and direction of the City or of any City official, other than normal agreement monitoring; and b. possesses no authority with respect to any City decision beyond rendition of information, advice, recommendation or counsel. ( FPPC Reg. 18700( a) ( 2).)

12. Ability of Contractor. City has relied upon the training and ability of Contractor to perform the services hereunder as a material inducement to enter into this Agreement. Contractor shall therefore provide properly skilled personnel to perform all services under this Agreement. All work performed by Contractor under this Agreement shall be in accordance with applicable legal requirements and shall meet the standard of quality ordinarily to be expected of competent contractors in Contractor' s field of expertise.

13. Compliance with Laws.
a. Contractor shall comply with all local, state and federal laws and regulations applicable to the services required hereunder, including any rule, regulation or bylaw governing the conduct or performance of Contractor and/ or its employees, officers, or board members. b. Contractor represents that it has obtained and will maintain at all times during the term of this Agreement all professional and/ or business licenses, certifications and/ or permits necessary for performing the services described in this Agreement, including a City business license.

14. Licenses. Contractor represents and warrants to City that it has the licenses, permits, qualifications, insurance and approvals of whatsoever nature, which are legally required of Contractor to practice its profession. Contractor represents and warrants to City that Contractor shall, at its sole cost and expense, keep in effect or obtain at all times during the term of this Agreement, any licenses, permits, insurance and approvals which are legally required of Contractor to practice its profession.

Contractor shall maintain a City of Lake Elsinore business license.

15. Indemnity. Contractor shall indemnify, defend, and hold harmless the City and its officials, officers, employees, agents, and volunteers from and against any and all losses, liability, claims, suits, actions, damages, and causes of action arising out of any personal injury, bodily injury, loss of life, or damage to property, or any violation of anyfederal, state, or municipal law orordinance, to the extent caused, in whole or in part, by the willful misconduct or negligent acts or omissions of Contractor or its employees, subcontractors, or agents, by acts for which they could be held strictly liable, or by the quality or character of their work. The foregoing obligation of Contractor shall not apply when ( 1) the injury, loss of life, damage to property, or violation of law arises from the sole negligence or willful misconduct of the City or its officers, employees, agents, or volunteers and ( 2) the actions of Contractor or its employees, subcontractor, or agents have contributed in no part to the injury, loss of life, damage to property, or violation of law. It is understood that the duty of Contractor to indemnify and hold harmless includes the duty to defend as set forth in Section 2778 of the California Civil Code. Acceptance by City of insurance certificates and endorsements required under this Agreement does not relieve Contractor from liability under this indemnification and hold harmless clause. This indemnification and hold harmless clause shall applyto any damages orclaims for damages whether or not such insurance policies shall have been determined to apply. By execution of this Agreement, Contractor acknowledges and agrees to the provisions of this Section and that it is a material element of consideration.

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DocuSign Envelope ID: 052A75D2- CE4A- 4142- BFB4- 47A93550EA02

16. Insurance Requirements .
a. Insurance. Contractor, at Contractor' s own cost and expense, shall procure and maintain, for the duration of the contract, unless modified by the City's Risk Manager, the following insurance policies.
i. Workers' Compensation Coverage. Contractor shall maintain Workers' Compensation Insuranee and Employer's Liability Insurance for his/her employees in accordance with the laws of the State of California. In addition, Contractor shall require each subcontractor to similarly maintain Workers' Compensation Insurance and Employer' s Liability Insurance in accordance with the laws of the State of California for all of the subcontractor' s employees. Any notice of cancellation or non -renewal of all Workers' Compensation policies must be received by the City at least thirty 30) days prior to such change. The insurer shall agree to waive all rights of subrogation against City, its officers, agents, employees and volunteers for losses arising from work performed by Contractor for City. In the event that Contractor is exempt from Worker' s Compensation Insurance and Employer' s Liability Insurance for his/ her employees in accordance with the laws of the State of California, Contractor shall submit to the City a Certificate of Exemption from Workers Compensation Insurance in a form approved by the City Attorney.
ii. General Liability Coverage. Contractor shall maintain commercial general liability insurance in an amount not less than one million dollars ($ 1, 000, 000) per occurrence for bodily injury, personal injury and property damage. If a commercial general liability insurance form or other form with a general aggregate limit is used, either the general aggregate limit shall apply separately to the work to be performed under this Agreement or the general aggregate limit shall be at least twice the required occurrence limit. Required commercial general liability coverage shall be at least as broad as Insurance Services Office Commercial General Liability occurrence form CG 0001 ( ed. 11188) or Insurance Services Office form number GL 0002 ( ed. 1173) covering comprehensive General Liability and Insurance Services Office form number GL 0404 covering Broad Form Comprehensive General Liability. No endorsement may be attached limiting the coverage.
iii. Automobile Liability Coverage. Contractor shall maintain automobile liability insurance covering bodily injury and property damage for all activities of the Contractor arising out of or in connection with the work to be performed under this Agreement, including coverage for owned, hired and non -owned vehicles, in an amount of not less than one million dollars 1, 000, 000} combined single limit for each occurrence. Automobile liability coverage must be at least as broad as Insurance Services Office Automobile Liability form CA 0001 ( ed. 12/ 90) Code 1 any auto"). No endorsement may be attached limiting the coverage. b. Endorsements. Each general liability and automobile liability insurance policy shall be with insurers possessing a Best' s rating of no less than A:VII and shall be endorsed with the following specific language:
i. Notwithstanding any inconsistent statement in any required insurance policies or any subsequent endorsements attached thereto, the protection offered by all policies, except for Workers' Compensation, shall bear an endorsement whereby it is provided that, the City and its officers, employees, servants, volunteers and agents and independent contractors, including without limitation, the City Manager and City Attorney, are named as additional insureds. Additional insureds shall be entitled to the full benefit of all insurance policies in the same manner and to the same extent as any other insureds and there shall be no limitation to the benefits conferred upon them other than policy limits to coverages.

This policy shall be considered primary insurance as respects the City,

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DocuSign Envelope ID: 052A75D2- CE4A- 4142- BFB4- 47A93550EA02 its elected or appointed officers, officials, employees, agents and volunteers. Any insurance maintained by the City, including any self-insured retention the City may have, shall be considered excess insurance only and shall not contribute with it. iii. This insurance shall act for each insured and additional insured as though a separate policy had been written for each, except with respect to the limits of liability of the insuring company.
iv. The insurer waives all rights of subrogation against the City, its elected or appointed officers, officials, employees or agents.

V. Any failure to comply with reporting provisions of the policies shall not affect coverage provided to the City, its elected or appointed officers, officials, employees, agents or volunteers.
vi. The insurance provided by this Policy shall not be suspended, voided, canceled, or reduced in coverage or in limits except after thirty ( 30) days written notice has been received by the City.
c. Deductibles and Self -Insured Retentions. Any deductibles or self-insured retentions must be declared to and approved by the City. At the City' s option, Contractor shall demonstrate financial capability for payment of such deductibles or self-insured retentions. d. Certificates of Insurance. Contractor shall provide certificates of insurance with original endorsements to City as evidence of the insurance coverage required herein. Certificates of such insurance shall be filed with the City on or before commencement of performance of this Agreement. Current certification of insurance shall be kept on file with the City at all times during the term of this Agreement.

17. Notices. Any notice required to be given under this Agreement shall be in writing and either served personally or sent prepaid, first class mail. Any such notice shall be addressed to the other party at the address set forth below. Notice shall be deemed communicated within 48 hours from the time of mailing if mailed as provided in this section.

If to City: City of Lake Elsinore
Attn: City Manager
130 South Main Street
Lake Elsinore, CA 92530
With a copy to: City of Lake Elsinore
Attn: City Clerk
130 South Main Street
Lake Elsinore, CA 92530
If to Contractor: Enderesen Development Inc.

Attn: Josh Endresen
15301 Alvarado St
Lake Elsinore CA 92530

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DocuSign Envelope ID: 052A75D2- CE4A- 4142- BFB4- 47A93550EA02

18. Assignment and Subcontractina. The parties recognize that a substantial inducement to City for entering into this Agreement is the reputation, experience and competence of Contractor.

Contractor shall be fully responsible to City for all acts or omissions of any subcontractors.

Assignments of any or all rights, duties or obligations of the Contractor under this Agreement will be permitted only with the express consent of the City. Contractor shall not subcontract any portion of the work to be performed under this Agreement without the written authorization of the City. If City consents to such subcontract, Contractor shall be fully responsible to City for all acts or omissions of those subcontractors. Nothing in this Agreement shall create any contractual relationship between City and any subcontractor nor shall it create any obligation on the part of the City to pay or to see to the payment of any monies due to any such subcontractor other than as otherwise is required by law.

19. Waiver. Waiver of a breach or default under this Agreement shall not constitute a continuing waiver of a subsequent breach of the same or any other provision under this Agreement.

20. Litigation Expenses and Attorneys' Fees. If either party to this Agreement commences any legal action against the other party arising out of this Agreement, the prevailing party shall be entitled to recover its reasonable litigation expenses, including court costs, expert witness fees, discovery expenses, and attorneys' fees.

21. Mediation. The parties agree to make a good faith attempt to resolve any disputes arising out of this Agreement through mediation prior to commencing litigation. The parties shall mutually agree upon the mediator and share the costs of mediation equally. If the parties are unable to agree upon a mediator, the dispute shall be submitted to JAMS or its successor in interest. JAMS shall provide the parties with the names of five qualified mediators. Each party shall have the option to strike two of the five mediators selected by JAMS and thereafter the mediator remaining shall hear the dispute. If the dispute remains unresolved after mediation, either party may commence litigation.

22. Prohibited Interests. Contractor maintains and warrants that it has not employed nor retained any company or person, other than a bona fide employee working solely for Contractor, to solicit or secure this Agreement. Further, Contractor warrants that it has not paid nor has it agreed to pay any company or person, other than a bona fide employee working solely for Contractor, any fee, commission, percentage, brokerage fee, gift or other consideration contingent upon or resulting from the award or making of this Agreement. For breach or violation of this warranty, City shall have the right to rescind this Agreement without liability. For the term of this Agreement, no member, officer or employee of City, during the term of his or her service with City, shall have any direct interest in this Agreement, or obtain any present or anticipated material benefit arising therefrom.

23. Equal Opportunity Employment. Contractor represents that it is an equal opportunity employer and it shall not discriminate against any subcontractor, employee or applicant for employment because of race, religion, color, national origin, handicap, ancestry, sex or age. Such non- discrimination shall include, but not be limited to, all activities related to initial employment, upgrading, demotion, transfer, recruitment or recruitment advertising, layoff or termination.

24. Prevailing Wages. Contractor is aware of the requirements of California Labor Code Section 1720, et seq., and 1770, et seq., as well as California Code of Regulations, Title 8, Section 15000, et seq., (" Prevailing Wage Laws"), which require the payment of prevailing wage rates and the performance of other requirements on " public works" and " maintenance" projects. Contractor agrees to fully comply with all applicable federal and state labor laws ( including, without limitation, if applicable, the Prevailing Wage Laws). It is agreed by the parties that, in connection with the work or services provided pursuant to this Agreement, Contractor shall bear all risks of payment or nonpayment of prevailing wages under California law, and Contractor hereby agrees to defend,

Page 8 ends

DocuSign Envelope ID: 052A75D2- CE4A- 4142- BFB4- 47A93550EA02 indemnify, and hold the City, and its officials, officers, employees, agents, and volunteers, free and harmless from any claim or liability arising out of any failure or alleged failure to comply with the Prevailing Wage Laws. The foregoing indemnity shall survive termination of this Agreement.

25. Severability. If any term or portion of this Agreement is held to be invalid, illegal, or otherwise unenforceable by a court of competent jurisdiction, the remaining provisions of this Agreement shall continue in full force andeffect.
2$. Controlling Law Venue. This Agreement and all matters relating to it shall be governed by the laws of the State of California and any action brought relating to this Agreement shall be held exclusively in a state court in the County of Riverside.

27. Authority to Enter Agreement. Contractor has all requisite power and authority to conduct its business and to execute, deliver, and perform the Agreement. Each party warrants that the individuals who have signed this Agreement have the legal power, right, and authority to make this Agreement and to bind each respective party. The City Manager is authorized to enter into an amendment or otherwise take action on behalf of the City to make the following modifications to the Agreement: ( a) a name change; ( b) grant extensions of time; ( c) non -monetary changes in the scope of services; and/ or (d) suspend or terminate the Agreement.

28. Counterparts. This Agreement may be executed in several counterparts, each of which shall constitute one and the same instrument and shall become binding upon the parties when at least one copy hereof shall have been signed by both parties hereto. In approving this Agreement, it shall not be necessary to produce or account for more than one such counterpart.

29. Entire Agreement: Incorporation: Conflict. This Agreement contains the entire understanding between the parties relating to the obligations described herein. All prior or contemporaneous understandings, agreements, representations and statements, oral or written, are superseded in total by this Agreement and shall be of no further force or effect. Contractor' s Proposal is incorporated only for the description of the scope of services and/ or the schedule of performance and no other terms and conditions from such proposal shall apply to this Agreement unless specifically agreed to in writing. In the event of conflict, this Agreement shall take precedence over those contained in the Contractor' s Proposal.

30. Amendments. This Agreement may be modified or amended only by a written document executed by both Contractor and City and approved as to form by the City Attorney.

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed on the date first written above.

CITY OF LAKE ELSINORE, a municipal
corporation
DOCU igned by:
asaw S I.MPW
f11101011: 7:[oio]_k4
Endresen Development Inc., a Click or tap here
to enter text.

Page 9 ends

Dxu3igned 6y:

C
DocuSign Envelope ID: 052A75D2- CE4A- 4142- BFB4- 47A93550EA02 City Manager
ATTEST:

L
Signed by:

City Clerk
APPROVED AS TO FORM:

DocuSigned by:

City ttarney
Doc uSigned by:

Sew
Assistant City Manager
Attachments: Exhibit A — Contractor' s Proposal
By: Josh Endresen
Its: Owner

Page 10 ends

DocuSign Envelope ID: 052A75D2- CE4A- 4142- BFB4- 47A93550EA02

EXHIBIT A

CONTRACTOR' S PROPOSAL
ATTACHED]

EXHIBIT A
DocuSign Envelope ID: 052A75D2- CE4A- 4142- BFB4- 47A93550EA02 civv csciv

DEVELOPMENT
City of Lake Elsinore
To whom it may concern:

August 23, 2022
I would like to take this opportunity to introduce to you, Endresen Development, INC. We are a General Construction company located in Lake Elsinore, California. Our Company' s experience includes new construction, minor and major renovations to existing buildings, commercial construction, including tenant improvements. Our goal is to provide you with the best quality construction and customer service while completing the project on time and under budget.

Endresen Development, INC has over forty years of building experience with Josh, as a General Contactor and Jim as a General Contractor and consultant. Both come from a customer service/ residential building background and pride themselves in making sure that the job is of the highest quality and the customer is completely satisfied. Jessica, CFO and accountant ensures the accounting and monetary aspect of the project comes in on target. No company provides the quality and service of Endresen Development, LLC on projects of any size.

Endresen Development, INC is a full- service construction company that has experience in all forms of construction. We offer 24 hour/ 7 days a week emergency services. If needed, we can provide, before, during, and after photos of projects. No job is too small or large. We are fully licensed, bonded, and insured.

I have enclosed for your reference, just a few of our clients that we have made completely satisfied in the past, as well as clients that we continue to do business with.

If you would like any additional information on our company, Endresen Development, INC, please feel free to contact us. We look forward to working with you in the near future.

Thank you
Josh Endresen
Endresen Development, INC
License # 922677
Office- 951- 678- 1977/ Cell- 951- 757- 5695
Endresen Development@gmail. com
Endresen Development, INC 15301 Alvarado Street Lake Elsinore, CA 92530 DocuSign Envelope ID: 052A75D2- CE4A- 4142- BFB4- 47A93550EA02 C5 scAv

DEVELOPMENT
Endresen Development, INC is a family owned small company located in Lake Elsinore, California. Josh is a General Contractor with a B construction license. He has been in construction for over 20 years. Josh is a finish carpenter by trade with an eye for detail. Endresen Development, INC recently expanded and has 3 employees in the field that work alongside hire. All our employees come from a construction background and have experience in various areas. We also have an accountant/ bookkeeper who keeps the office and financials in order.

Josh has had his General Contractors, B license since 2009- License # 922577. We carry liability insurance, workers Compensation Insurance, and are fully bonded. We are proud to say we have not been involved in any legal issues/ lawsuits and have never had a worker' s compensation claim. Endresen Development, INC always complies with all existing State and Federal laws. We also comply with all OSHA and Cal OSHA standards and requirements.

Endresen Development, INC works with several subcontractors that have similar qualifications and work ethic.

We ensure that our sub -contracts also abide by necessary State and Federal laws and all OSHA and Cal OSHA standards and requirements.

This following is a list of the sub -contractors that we currently work with:

Advanced Heating and Air ( HVAC) Temecula, CA
JARCO Roofing ( Roofing) Perris, CA
Pursuit Electric ( Electric) Lake Elsinore, Ca
Canyon Hills Plumbing and Drain ( Plumbing) Lake Elsinore, CA Endresen Development, LC is an on- call contractor for several Commercial Management Companies and Investment Companies, including the following:

SR Commercial- Sabrina McChesney
o Lake Elsinore Central Marketplace
City Com Commercial Property Management
City of Lake Elsinore
Val Verde School District
Endresen Development, INC 15301 Alvarado Street Lake Elsinore, CA 92530 DocuSign Envelope ID: 052A75D2- CE4A- 4142- BFB4- 47A93550EA02 Attachment " A"
Cost Proposal Sheet — General Maintenance Services
Please provide the fee quotes as follows { Include a schedule of rates by classification hourly rates}:

In the column labeled " Bidder Notes" mark each maintenance area beginning with 1 to 11 ( 1 = most preferred area, 11= least preferred area). Please attach additional pages if necessary.

GENERAL MAINTENANCE SERVICES WAGE RATES
ConstructionUnit
Normal Business Hours
Rate
Emergency and After
Hours Rate of
Measure
Subcontractor
Services
Bidder Notes
Maintenance Non- Non- Hourly, y, Yes ! No
Attached if Needed)
Area Prevailing Prevailing Prevailing Prevailing Hour
Wage Rate Wa a Rate Wage Rate Wage Rate Etc....

Carpent 3°= 76 Zy 1/ 214- NO
Finishwood
b 8 3
p 750"
t ZL LO—
ZK Nd 3
Plumbing 5
60 S Ba = 136 5° 11L fill- no
Electrical 9.5
A
011
1ODI
l th aa- Iss L4
Concrete and
Mason 65 `- 13- 7 et' 1E° I Z !- lttr ryo 2
HVAC two 12 lie r
ID
Painting W50 75 bO 114 141L 1 4
Sheet Metal b:s
a^ f3- 7
ae 8 13o'Se t! #l 4i'Z
Dry Wall Z- m- J` 7- -,
41 t2. t-AitZ N6
Roofing jam s j 7,5 1 7- L4t I Z,4 t— las
Irrigation
Repair 0 75
Or{
e Z? 4 kiL Sr iJ
Material Markup: 20 % ( percent)
Normal Business Hours: 7: 30 a. m. to 5: 30 p. m. ( Monday — Friday) Emergency and After Hours Service: 5: 30 p. m. to 7: 30 a. m. ( Weekends and Holidays)

Page 7 ends

DocuSign Envelope ID: 052A75D2- CE4A- 4142- BFB4- 47A93550EA02 ACQRD® CERTIFICATE OF LIABILITY INSURANCE DATE IM MID DIYYYYI 1011 2J2022
THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS

CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER( S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER.

IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy( ies) must have ADDITIONAL INSURED provisions or be endorsed.

If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement( s).

PRODUCER CONTACT Customer Service Team NAME:

A1C No E10: ( 888) 745- 0002 FVC Ne _ ( Preferred American Insurance 888) 834- 0006 EMAIL
customerservice@preferredamerioan. com
ADDRESS: P. O. Bax 79498
IN SU RERIS) AFFORDING COVERAGE NAIC d
INSURER A: Preferred Contractors insurance Company Corona CA 92877 12497

INSURED
INSURER B:

INSURER C: Endresen Development, IncINSURER D:
15301 Alvarado StINSURER E
INSURER F:

Lake Elsinore CA 92530
COVERAGES CERTIFICATE NUMBER: 22- 23 Certs REVISION NUMBER:

THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN. THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS.

LTR TYPE OF INSURANCE INSD VIVD POLICY NUMBER

POLICY EFF
MM1DD

POLICY EXP

MMIDDIYYYY LIMITS
X COMMERCIAL GENERAL LIABILITY EACH OCCURRENCE $ 1, 000,000

CLAIMS - MADE OCCUR
DAMAGE TO RENTFIT_
PREMISES Ea occurrence $ 50,000
MED EXP (Any one person) $ 5,000
PERSONAL& ADV INJURY S 1, 000, 000 A Y PC443115 10/26/2022 10/ 26/2023 GEN' L AGGREGATE LIMIT APPLIES PER: GENERAL AGGREGATE S 2. 000, 000 POLICY
PROLOC PRODUCTS - COMPIOP AGG $ 1, 000,000
OTHER:

AUTOMOBILE LIABILITY COMBINED SINGLE LIMIT $
Ea aocident)
ANYAUTO BODILY INJURY ( Per person) $

OWNED SCHEDULED

AUTOS ONLY AUTOS
BODILY INJURY ( Per accident) $
PROPERTY DAMAGE $
Per acadenl

HIRED NON - OWNED

AUTOS ONLY AUTOS ONLY
S

UMBRELLALIAB OCCUR EACH OCCURRENCE S
AGGREGATE $ EXCESS LIAB

CLAIMS - MADE
DED I I RETENTIONS r $

WORKERS COMPENSATION PER

EMPLOYERS' LIABILITY Y I N

STATUTE EORER
ANY PROPRIETOR1PARTNERIEXECUTIVE E. L. EACH ACCIDENT 5
OFFiCERIMEMSER EXCLUDED? NIA
Mandatory in NH) E. L. DISEASE- EA EMPLOYEE $
If yes, describe under
DESCRIPTION OF OPERATIONS below E. L. DISEASE- POLICY LIMIT S DESCRIPTION OF OPERATIONS I LOCATIONS 1 VEHICLES ( ACORD 101. Additional Remarks Schedule, may be attached if mare space is required) City of Lake Elsinore is named as Additional insured as required by written contract.

ACORD 25 ( 2016103) The ACORD name and logo are registered marks of ACORD

SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE

THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN City of Lake Elsinore
ACCORDANCE WITH THE POLICY PROVISIONS.
130 South Main Street

ACORD 25 ( 2016103) The ACORD name and logo are registered marks of ACORD DocuSign Envelope ID: 052A75D2- CE4A- 4142- BFB4- 47A93550EA02 Preferred Contractors Insurance Company. RRCs
THIS ENDORSEMENT CHANGES T1IE POLICY. PLEASE READ IT CAREFULLY.

PREFERRED CONTRACTORS INSURANCE COMPANY

RISK RETENTION GROUP, LLC

COMMERCIAL GENERAL LIABILITY POLICY
ADDITIONAL INSU RED• OWNERS, LESSEES OR CONTRACTORS

SCHEDULED PERSON OR ORGANIZATION ONGOING OPERATIONS ONLY This endorsement modifies insurance provided under the following:

COMMERCIAL GENERAL LIABILITY COVERAGE PART.

Name of Additional Insured:

As required by a legally enforceable written agreement entered into prior to commencement of the Named Insured' s work.

Designated Project/ Location to which this endorsement applies:

All Projects and Locations
If no entry appears above, the information required to complete this endorsement will be shown in the Declarations as applicable to this endorsement.)
A. Section III - Who is An Insured is amended to include as an additional insured the person( s) or organization( s) shown in the Schedule, but only with respect to liability for "bodily injury", " property damage" or " personal and advertising injury" caused, in whale or in part, by:

1. Your acts or omissions; or

2. The acts or omissions of those acting on your behalf in tate performance of your ongoing operations performed during the policy period for the additional insured( s) at the location( s) designated above.

B. This insurance does not apply to " bodily injury" or " property damage" that takes place after, and the Additional Insured' s status as an additional insured hereunder terminates, upon the earlier of:

1. All work, including materials, parts or equipment furnished by the Named Insured in connection with such work, on tate project ( other than service, maintenance or repairs) to be performed by or on behalf of the additional insureds) at the location of the covered operations has been completed:
or

2. That portion of "your work" out of which the injury or damage arises has been put to its intended use by any person or organization other than another contractor engaged in performing operations for a principal as part of the same project.

Coverage for any additional insured is governed by the terms, conditions, and exclusions of this policy and all endorsements, including the Insuring Agreement.

The coverage provided for any additional insured is only to the extent of and in the proportion the additional Insured is held liable for the negligence or strict liabilitylconductlacts of the Named Insured_ No coverage is provided for liability based upon the acts, errors or omissions of the Additional Insured.

Except as set forth above, all ofthe terms, conditions and exclusions of this policy apply and remain in effect.

Policy No.: PC443115
Date: 10/ 26/ 2022
Time: 12: 01 a. m.

Preferred Contractors Insurance Company
Risk Retention Group, LLC
27 North 27th Street, Suite 1900
Billings, Mpya $ 9101
By'= !
ut} z£ zed Representative
PCIC AEE ONO 00 01 0318 Page 1 of 1
DocuSign Envelope ID: 052A75D2- CE4A- 4142- BFB4- 47A93550EA02

PACIFIC PROPERTY AND CASUALTY COMPANY
r rF
1949 E. SUNSHINE POLICY NUMBER THIS FAMILY AUTOMOBILE RENEWAL DECLARATION REPLACES SPRINGFIELD, MISSOURI 65899- 0001 044- 00581- 0- 9 ALL PRIOR DECLARATIONS, IF ANY, AND WITH POLICY 417) 887. 0220 POLICY TERM PROVISIONS AND ANY ENDORSEMENTS ISSUED TO FORM A PART wwwAmericanNabonal. 00m
10- 16- 2022 TO 04- 16- 2023 THEREOF COMPLETES THIS POLICY.

AND SUBSEQUENT RENEWALS.

NAMED INSURED AND ADDRESS

SMALL- ENDRESEN, JESSICA &

ENDRESEN, JOSHUA J
15301 ALVARADO ST
LAKE ELSINORE CA 92530- 6963
AGENT: D5195 - P 1- RX7
RATING ADDRESS: BILLY MCDOUGALL FOR CUSTOMER SERVICE:
15301 ALVARADO ST 32174 CALA TORRENTE 951- 302- 9429
LAKE ELSINORE CA 92530- 6963 TEMECULA CA 92592- 3649

DESCRIPTION OF INSURED PROPERTY
RATED

VEH DR DESCRIPTION ID NUMBER TYPE
1 0 2004 CHE TAHOE LS 4D 4 1GNEK13T74R293500 AUTO
2 0 2016 RAM 5500 CREW CC 3C7WRMFL4GG363631 PICKUP
3 1 2014 AU Q7 4D QUATTRO WA1 WMAFE6ED018696 AUTO
4 2 2021 RAM 2500 CREW CAB 3C6UR5DL5MG515528 PICKUP

RATING INFORMATION, COVERAGES, PREMIUMS, AND LIMITS OF LIABILITY INSURANCE IS PROVIDED ONLY WITH RESPECT TO TN OSE OF THE FOLLOMI NG COVERAGES WHICH ARE INDICATED BY A SPECIRC LIMIT OF UA& LITY ANMR PREMUM APPLICABLE THERETO.

VEHICLE 04 CHE TAHOE LS 4D 16 RAM 5500 CREW C 14 AUD Q7 4D QUATT 21 RAM 2500 CREW C

EXPIRING POLICY VERIFICATION VERIFIED VERIFIED VERIFIED VERIFIED EXPIRING POLICY ANNUAL MILEAGE 2. 157 13, 836 29, 987 15, 337

CURRENT POLICY VERIFICATION VERIFIED VERIFIED VERIFIED VERIFIED CURRENT POLICY ANNUAL MILEAGE 2. 157 13, 836 29, 987 23, 866 BODILY INJURY LIABILITY 88. 00 126. 00 136. 00 411. 00
LIMIT PER PERSONIOCCURRENCE 250. 0001500. 000 250. 0001500. 000 250. 0001500. 000 250. 0001500. 000 PROPERTY DAMAGE LIABILITY 80. 00 91. 00 100. 00 320. 00 LIMIT PER OCCURRENCE 100. 000 100. 000 100. 000 100. 000 UNINSURED & UNDERINSURED MOTORIST $ 44. 00 63.00 56.00 103. 00 LIMIT PER PERSONIACCIDENT 250. 0001500. 000 250. 0001500. 000 250. 0001500. 000 250. 0001500. 000

UNINSURED PROPERTY DAMAGE INCLUDED INCLUDED INCLUDED INCLUDED LIMIT PER ACCIDENT 3, 500 3, 500 3, 500 3, 500
COMPREHENSIVE 24. 00 99. 00 79. 00 105. 00
DEDUCTIBLE 500 500 500 500

ADDED COVERAGE ENDORSEMENT NO NO NO NO
LIMIT OF CUSTOMIZED EQUIPMENT 2, 000 9, 999 2, 000 2, 000 COLLISION 50. 00 371. 00 256. 00 394. 00
DEDUCTIBLE 1. 000 1. 000 1. 000 1. 000

ADDED COVERAGE ENDORSEMENT NO NO NO NO
LIMIT OF CUSTOMIZED EQUIPMENT 2, 000 9, 999 2, 000 2, 000

REIMBURSEMENT OF RENTAL EXPENSE INCLUDED INCLUDED INCLUDED INCLUDED LIMIT PER DAY/ AGGREGATE 251750 251750 251750 251750
TOTAL 286. 00' 750. 00 627. 00' 51. 333.00
THIS PREMIUM REFLECTS A 30% CALIFORNIA GOOD DRIVER DISCOUNT.

IMPORTANT NOTICE: THIS POLICY REDUCES THE APPLICABLE LIMITS FOR BODILY INJURY LIABILITY, PROPERTY DAMAGE LIABILITY,

UNINSURED AND UNDERINSURED MOTORIST COVERAGES SHOWN ON THIS DECLARATIONS PAGE TO THE LEGALLY REQUIRED MINIMUM

FINANCIAL RESPONSIBILITY LIMITS IN THE STATE WHEN AN INSURED VEHICLE IS OPERATED BY ANYONE OTHER THAN YOU, OR A RELATIVE, OR A PERSON LISTED ON THE DECLARATIONS AS AN OPERATOR.

VEHICLES ENDORSEMENTS TAXIFEE TOTAL PREMIUM

BILLY MCDOUGALL
TOTAL

AUTHORIZED REPRESENTATIVE
PREMIUMS $ 2. 996. 00 $ 0. 00 $ 0. 00 $ 2, 996. 00
DATE 09- 09- 2022 THIS IS NOT A BILL. SEE DECLARATION SECTION II FOR ADDITIONAL INFORMATION

PRINTED

SEE REVERSE SIDE FOR IMPORTANT INFORMATION
SM - 484 [ 1- 06]
DocuSign Envelope ID: 052A75D2- CE4A- 4142- BFB4- 47A93550EA02

IMPORTANT INFORMATION ON HOW TO REPORT A CLAIM

BUCKLE UP AND DRIVE DEFENSIVELY
One in five drivers will have an accident this year. We hope it is not you. However, if it happens, remember to get the following information from the other driver:

1. Vehicle Owner' s Name, Address, and Telephone Numbers

2. Make and Model of Vehicle

3. Car License Plate Number

4. Driver' s Name ( if other than owner), Address, and Telephone Numbers

5. Driver' s License Number

5. Insurance Company Name and Policy Number

7. Owner' s and Driver' s Place of Employment

8. Promptly File State Safety Responsibility Forms
REMEMBER TO REPORT YOUR CLAIM TO PACIFIC IMMEDIATELY ( TOLL FREE) 1- 800- 333- 2860 R
DocuSign Envelope ID: 052A75D2- CE4A- 4142- BFB4- 47A93550EA02 04- V- 0058LO- 9 SMALL- ENDRESEN, JESSICA & 10- 16- 2022 DECLARATIONS, SECTION II PAGE 1 POLICY TERM: 10- 16- 2022 TO 04- 16- 2023 VEH. DR.# RATING INFORMATION
1 0 ANNUAL MILEAGE 15 LESS THAN 2. 500. MILEAGE IS VERIFIED 2 0 ANNUAL MILEAGE IS 13. 000 TO 13. 999. MILEAGE IS VERIFIED 3 1
DRIVER HAS 28 YEARS DRIVING EXPERIENCE. ANNUAL MILEAGE IS 20. 000 OR GREATER. MILEAGE 15 VERIFIED. WORK USE 10+ MILES
4 2
DRIVER HAS 28 YEARS DRIVING EXPERIENCE, ANNUAL MILEAGE IS 20. 000 OR GREATER. MILEAGE IS VERIFIED. BUSINESS USE
VEH. DR.# OPERATOR INFORMATION ACCDTICONV
3 1 PRINCIPAL MAR SMALL- ENDRESEN JESSICA 0 0
4 2 PRINCIPAL MAR ENDRESEN JOSHUA J 1 1
VEH. POLICY DISCOUNTS
1 GOOD DRVR: AUTO - HOME: THREE LINE: MULTI - CAR: RENEWAL 2 GOOD DRVR: AUTO - HOME: THREE LINE: MULTI - CAR: RENEWAL 3 GOOD DRVR: AUTO - HOME: THREE LINE: MULTI - CAR: RENEWAL 4 AUTO - HOME: THREE LINE: MULTI - CAR: RENEWAL
VEH. THIS POLICY IS SUBJECT TO THE FOLLOWING FORMS AND ENDORSEMENTS

1. 2. 3. 4 FV2476 10- 15 CUSTOMIZED EQUIPMENT
POL FV405CA 04- 20 CALIFORNIA AUTO POLICY
4 FV768 01- 08 ADDL INT END INTERESTED PARTY
POL # SA3004C 04- 20 LIMITED DELIVERY ENDORSEMENT
LOSS PAYEE{ S] IADDITIONAL INTEREST( S)
VEHICLE: 4 VEHICLE: 4 VEHICLE: 4

CITY OF LAKE ELSINORE CHRYSLER CAPITAL ALLY FINANCIAL
130 S MAIN ST PO BOX 3610 PO BOX 380901
LAKE ELSINORE CA 92530- 4109 Carmel IN 46082- 3610 Bloomington MN 55438- 0901

INTERESTED PARTY LOSS PAYEE LOSS PAYEE
0024887773

IMPORTANT POLICY INFORMATION
NM158 0618 # FA007 0420 # IV913 0219 # IA292 0219 # FM159 0215 # NM227 0621 # UM55 0120 DocuSign Envelope ID: 052A75D2- CE4A- 4142- BFB4- 47A93550EA02 AcaR" r

CERTIFICATE OF LIABILITY INSURANCE
DATE ( MMrDDrrrrr) 1 02/ 28/ 2022
THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS

IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy( jes) must have ADDITIONAL INSURED provisions or be endorsed.

If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer ri ghts to the certificate holder in lieu of such endorsements .

PRODUCER

CONTACT
NAME:

Levoy & Associates Insurance Agency PHONEAMC No. ExU, ( 916) 652- 2705 FAX Na PO Box 30 A ESSS: david@levoyins. eom
INSURER( S) AFFORDING COVERAGE MAIC 0
OTHER
Loomis CA 95650 INSURER A. PREFERRED PROFESSIONAL INS CO 36234 INSURED INSURER 6
Endresen Development INSURER C : Inc.
15301 Alvarado St INSURER D:

INSURER E:

Lake Elsinore CA 92530 INSURER F!
COVERAGES CERTIFICATE NUMBER: REVISION NUMBER:

CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS.

IHSRR

TYPE OF INSURANCE

ADOL SUBR

POLICY NUMBER

POLICY EFF POLICY EXP
LIMITS

COMMERCIAL GENERAL LIABILITY EACH OCCURRENCE S

DAMAGE TO RENTED
I CLAIMS - MADE OCCUR PREMISES ! Ea oodttrartoel S
I MED ERP ( AM ons MMM) 15 1
DESCRIPTION OF OPERATIONS I LOCATIONS? VEHICLES ( ACORD 101, Additional Remarks Schedule, may be attached if MOFe space is Fequired)

CERTIFICATE HOLDER CANCELLATION
Proof of Insurance"
ACORD 25 ( 2016103)

SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE

THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS.

The ACORD name and logo are registered marks of ACORD
LGEWL AGGREGATE LIMIT APPLIES PER: GENERAL AGGREGATE S
P11Y
F7 PRO. r7
LOC PRODUCTS- COA1P1pPAGG S

S OTHER
AUTOMOBILE LIABILITY COMBINED SINGLE LIMIT S Ea a n!
ANY AUTO BODILY INJURY ( Par pwum) S

OWNED SCHEDULED

AUTOS ONLYAUTOS
BODILY INJURY ( Parawlt W) S

HIRED NON - OWNED

AUTOS ONLY NAUTOS ONLY

PROPERTY DAMAGE S
S

UMBRELLA LUIS OCCUR EACH OCCURRENCE S
EXCESS LIABH CAMs -MA AGGREGATE $

DED RETENTION S S

WORKERS COMPENSATION

AND EMPLOYERS' LIABILITY
A
ANY XCCLUD D?
TNEREXEcvTIVE YlJ
Myyandatory in NH)
NIA ON12487- 01 03/ 06/ 2022 031D6/ 2023
X PEAR OT" - ER
E• L. EACH ACCIt NT : 1
E. L. DISEASE - EA EMPLOYE S 1
be under
DESCRIPTION OF OPERATIONS below E. L. DISEASE - POLICY LIMIT S 1 DESCRIPTION OF OPERATIONS I LOCATIONS? VEHICLES ( ACORD 101, Additional Remarks Schedule, may be attached if MOFe space is Fequired)

CERTIFICATE HOLDER CANCELLATION
Proof of Insurance"
ACORD 25 ( 2016103)

SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE

THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS.

The ACORD name and logo are registered marks of ACORD
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DocuSign Envelope ID: 052A75D2- CE4A- 4142- BFB4- 47A93550EA02

BUSINESS LICENSE
This business license is issued for revenue purposes only and does not grant authorization to operate a business. This business license is issued without verification that the holder is subject to or exempted from licensing by the state, county, federal government, or any other governmental agency.

Business Name: ENDRESEN DEVELOPMENT, INC
Business Location: 15301 ALVARADO ST
LAKE ELSINORE, CA 92530- 6963
Owner Name(s): JOSH ENDRESEN

ENDRESEN DEVELOPMENT, INC

ENDRESEN DEVELOPMENT/ JOSH ENDRESEN
15301 ALVARADO ST
LAKE ELSINORE, CA 92530- 6963

CITY OF LAKE ELSINORE
Administrative Services - Licensing
130 South Main Street, Lake Elsinore, CA 92530
PH ( 951) 674- 3124
BUSINESS LICENSE NO. 020309
Business Type: GENERAL BUILDING CONTRACTOR
Description: GENERAL CONTRACTOR
Issue Date: 10/ 1/ 2022 Expiration Date: 9/ 30/ 2023
Starting January 1, 2021, Assembly Bill 1607 requires the prevention of gender- based discrimination of business establishments. A full notice is available in English or other languages by going to: https:// www. dca. ca.gov/ publications/ TO BE POSTED IN A CONSPICUOUS PLACE THIS IS YOUR LICENSE • NOT TRANSFERABLE AMENDMENT NO. 3

TO AGREEMENT FOR ON-CALL SERVICES
Cotter Construction Inc.

This Amendment No. 3 to Agreement for On-Call Services is made and entered into as of 3/24/2026, by and between the City of Lake Elsinore, a municipal corporation (“City), and Cotter Construction Inc., a (“Contractor”).

B. The Original Agreement provided for compensation to Contractor in an amount of two hundred and fifty thousand dollars and no cents ($250,000.00).

C. The Original Agreement had a term of one year with two one-year renewal options, commencing on 1/24/2023 and ending on 6/30/2023.

D. Amendment No. 1 approved on January 9, 2024, increased Contractor compensation in an amount of $250,000.

E. Amendment No. 2 approved on February 10, 2026, extended the term to June 30, 2027.

F. The parties now desire to increase payment for such services as set forth in this Amendment No 3.

NOW, THEREFORE, in consideration of the mutual covenants and conditions set forth herein, City and Contractor agree as follows:

1. Section 3, Compensation, of the Original Agreement is hereby amended to read in its entirety as follows:

In no event shall Contractor ’s annual compensation related to Exhibit A exceed one million dollars ($1,000,000) without additional written authorization from the City Council.

2. Except for the changes specifically set forth herein, all other terms and conditions of the Original Agreement as amended by Amendment No. 3 shall remain in full force and effect.

City Manager
Date:

Andrew Cotter, Owner
Date: __
ATTEST:

City Clerk
APPROVED AS TO FORM:

City Attorney

Assistant City Manager
EXHIBIT A-1
CONTRACTOR’S PROPOSAL
[ATTACHED]
AMENDMENT NO. 2

TO AGREEMENT FOR ON-CALL SERVICES
Cotter Construction Inc.

This Amendment No. 2 to Agreement for On-Call Services is made and entered into as of 2/10/2026, by and between the City of Lake Elsinore, a municipal corporation (“City), and Cotter Construction Inc., a (“Contractor”).

B. The Original Agreement provided for compensation to Contractor in an amount of two hundred and fifty thousand dollars and no cents ($250,000.00).

C. The Original Agreement had a term of one year with two one-year renewal options, commencing on 1/24/2023 and ending on 6/30/2023.

D. Amendment No. 1 approved on January 9, 2024, increased Contractor compensation in an amount of $250,000.

E. The parties now desire to amend the term as set forth in this Amendment No 2.

NOW, THEREFORE, in consideration of the mutual covenants and conditions set forth herein, City and Contractor agree as follows:

1. Section 2c, Term and Compliance Task/Work Order System, of the Original Agreement is hereby amended to read in its entirety as follows:

Unless earlier terminated as provided elsewhere in this Agreement, this Agreement shall continue in full force and effect for a period commencing January 24, 2023 and ending June 30, 2027.

2. Except for the changes specifically set forth herein, all other terms and conditions of the Original Agreement as amended by Amendment No. 1 shall remain in full force and effect.

City Manager
Date:

Andrew Cotter, Owner
Date: __
ATTEST:

City Clerk
APPROVED AS TO FORM:

City Attorney

Assistant City Manager
Attachments: Amendment No.1
EXHIBIT A-1
CONTRACTOR’S PROPOSAL
[ATTACHED]
AMENDMENT NO. 1

TO AGREEMENT FOR CONTRACTOR SERVICES
Cotter Construction Inc.

B. The Original Agreement provided for compensation to Contractor in an amount of two hundred and fifty thousand dollars and no cents ($250,000.00).

C. The Original Agreement had a term of one year with three one-year renewal options, commencing on 1/24/2023 and ending on 6/30/2024.

D. The parties now desire to amend the agreement and increase the payment for such services as set forth in this Amendment No 1.

NOW, THEREFORE, in consideration of the mutual covenants and conditions set forth herein, City and Contractor agree as follows:

1. Section 3, Compensation, of the Original Agreement is hereby amended to read in its entirety as follows:

2. Except for the changes specifically set forth herein, all other terms and conditions of the Original Agreement shall remain in full force and effect.

City Manager
Date:

Andre Cotter, Owner
Date: __
ATTEST:

City Clerk
APPROVED AS TO FORM:

City Attorney

Assistant City Manager
Attachments: Exhibit A-1 – Contractor’s Proposal
EXHIBIT A-1
CONTRACTOR’S PROPOSAL
[ATTACHED]

AGREEMENT FOR CONTRACTOR SERVICES
Cotter Construction Inc.

ON-CALL SERVICES
This Agreement for Contractor Services (On-Call) (the "Agreement") is made and entered into as of January 24, 2023 by and between the City of Lake Elsinore, a municipal corporation (the "City") and Cotter Construction Inc., a Licensed Contractor (the "Contractor").

RECITALS
A. The City has determined that it requires the following services:

On-call minor construction and repair services
B. The City has prepared a request for a proposals and Contractor has submitted to City a proposal, dated August 8, 2022, both of which are attached hereto as Exhibit A (collectively, the "Contractor's Proposal") and incorporated herein, to provide services and related work to the City pursuant to the terms of this Agreement.

AGREEMENT

1. Scope of Services. Contractor shall perform the services and related work described in Contractor' s Proposal (Exhibit A). Contractor shall provide such services and related work at the time, place, and in the manner specified in Contractor's Proposal (Exhibit A), subject to the direction of the City through its staff that it may provide from time to time. Contractor acknowledges that the Scope of Services provides for 24 hour-a-day, 7 day-a-week, on-call and minor construction support on an as needed basis.

2. Time of Performance.
a. Time of Essence. Time is of the essence in the performance of this Agreement. The time for completion of the services and related work to be performed by Contractor is an essential condition of this Agreement. Contractor shall prosecute regularly and diligently the services and related work contemplated pursuant to this Agreement consistent with Contractor's Proposal ( Exhibit A) and shall provide, furnish and pay all labor, materials, necessary tools, expendable equipment, and all taxes, utility and transportation services required to performsuch the services and related work.
b. Performance Schedule. Contractor shall commence the services and related work pursuant to this Agreement upon receipt of a written notice to proceed and shall perform all services and related work within the time period(s) established in the Contractor's Proposal (Exhibit A). When requested by Contractor, extensions to the time period(s) specified may be approved in writing by the City Manager.

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DocuSign Envelope ID: 6102C73A- 61EE-4237-88E7-6005B6565EBB c. Term and Compliance with Task/ Work Order System. Unless earlier terminated as provided elsewhere in this Agreement, this Agreement shall continue in full force and effect for a period commencing on January 24, 2023 and ending June 30, 2023. The City may, at its sole discretion, extend the term of this Agreement on a 12-month basis not to exceed 2 additional twelve ( 12) month renewal terms by giving written notice thereof to Contractor not less than thirty 30) days before the end of the contract term, such notice to be exercised by the City Manager.

Contractor hereby agrees and acknowledges that any and all work or services performed pursuant to this Agreement shall be based upon the issuance of a Task/ Work Order by the City. Contractor acknowledges that it is not guaranteed any minimum or specific amount of work or services as all work or services shall be authorized through a Task/Work Order issued by the City.

3. Compensation. Compensation to be paid to Contractor shall be in accordance with the fees set forth in Contractor' s Proposal ( Exhibit A), which is attached hereto and incorporated herein by reference. In no event shall Contractor' s annual compensation exceed for two hundred fifty thousand dollars and no cents ($ 250,000.00) without additional written authorization from the City. Notwithstanding any provision of Contractor' s Proposal to the contrary, out of pocket expenses set forth in Exhibit A shall be reimbursed at cost without an inflator or administrative charge. Payment by City under this Agreement shall not be deemed a waiver of defects, even if such defects were known to the City at the time of payment.

4. Method of Payment. Contractor shall promptly submit billings to the City describing the services and related work performed during the preceding month to the extent that such services and related work were performed. Contractor' s bills shall be segregated by project task, if applicable, such that the City receives a separate accounting for work done on each individual task for which Contractor provides services. Contractor' s bills shall include a brief description of the services performed, the date the services were performed, the number of hours spent and by whom, and a description of any reimbursable expenditures. City shall pay Contractor no later than forty-five ( 45) days after receipt of the monthly invoice by City staff.

Contractor shall not use that personnel to perform work required by this Agreement, and if necessary, shall replace him or her with a suitable worker.

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DocuSign Envelope ID: 6102C73A- 61EE-4237-88E7-6005B6565EBB Section, the Contractor will submit an invoice to the City, pursuant to Section entitled " Method of Payment" herein.

7. Plans, Reports, Documents
a. Ownership of Documents. All plans, studies, documents and other writings prepared by and for Contractor, its officers, employees and agents and subcontractors in the course of implementing this Agreement, except working notepad internal documents, shall become the property of the City upon payment to Contractor for such work, and the City shall have the sole right to use such materials in its discretion without further compensation to Contractor or to any other party. Contractor shall, at Contractor' s expense, provide such reports, plans, studies, documents and other writings to City upon written request. City shall have sole determination of the public' s rights to documents under the Public Records Act, and any third-party requests of Contractor shall be immediately referred to City, without any other actions by Contractor. b. Licensing of Intellectual Property. This Agreement creates a nonexclusive and perpetual license for City to copy, use, modify, reuse, or sublicense any and all copyrights, designs, and other intellectual property embodied in plans, specifications, studies, drawings, estimates, and other documents or works of authorship fixed in any tangible medium of expression, including but not limited to, physical drawings or data magnetically or otherwise recorded on computer diskettes, which are prepared or caused to be prepared by Contractor under this Agreement (" Documents & Data"). Contractor shall require that all subcontractors agree in writing that City is granted a nonexclusive and perpetual license for any Documents & Data the subcontractor prepares under this Agreement. Contractor represents and warrants that Contractor has the legal right to license any and all Documents & Data. Contractor makes no such representation and warranty in regard to Documents & Data, which were prepared by design professionals other than Contractor or provided, to Contractor by the City. City shall not be limited in any way in its use of the Documents & Data at any time, provided that any such use not within the purposes intended by this Agreement shall be at City's sole risk. c. Confidentiality. All ideas, memoranda, specifications, plans, procedures, drawings, descriptions, computer program data, input record data, written information, and other Documents & Data either created by or provided to Contractor inconnection with the performance of this Agreement shall be held confidential by Contractor. Contractor shall not, without the prior written consent of City, use such materials for any purposes other than the performance of the services under this Agreement. Nor shall such materials be disclosed to any person or entity not connected with the performance of the services under this Agreement. Nothing furnished to Contractor, which is otherwise known to Contractor or is generally known, or has become known, to the related industry shall be deemed confidential. Contractor shall not use City's name or insignia, photographs relating to project for which Contractor' s services are rendered, or any publicity pertaining to the Contractor' s services under this Agreement in any magazine, trade paper, newspaper, television or radio production or other similar medium without the prior written consent of City.

8. Contractor' s Books and Records.
a. Contractor shall maintain any and all ledgers, books of account, invoices, vouchers, canceled checks, and other records or documents evidencing or relating to charges for services, or expenditures and disbursements charged to City for a minimum period of three ( 3) years, or for any longer period required by law, from the date of final payment to Contractor to this Agreement.
b. Contractor shall maintain all documents and records which demonstrate performance under this Agreement for a minimum period of three ( 3) years, or for any longer period

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DocuSign Envelope ID: 6102C73A- 61EE-4237-88E7-6005B6565EBB required by law, from the date of termination or completion of this Agreement. c. Any records or documents required to be maintained pursuant to this Agreement shall be made available for inspection or audit, at any time during regular business hours, upon written request by the City Manager, City Attorney, City Auditor or a designated representative of these officers. Copies of such documents shall be provided to the City for inspection at City Hall when it is practical to do so. Otherwise, unless an alternative is mutually agreed upon, the records shall be available at Contractor' s address indicated for receipt of notices in this Agreement. d. Where City has reason to believe that such records or documents may be lost or discarded due to dissolution, disbandment or termination of Contractor' s business, City may, by written request by any of the above-named officers, require that custody of the records be given to the City and that the records and documents be maintained in City Hall. Access to such records and documents shall be granted to any party authorized by Contractor, Contractor' s representatives, or Contractor' s successor- in-interest.

9. Indepe ndent Contractor.
a. Contractor is and shall at all times remain as to the City a wholly independent contractor pursuant to California Labor Code Section 3353. The personnel performing the services under this Agreement on behalf of Contractor shall at all times be under Contractor' s exclusive direction and control. Neither City nor any of its officers, employees, or agents shall have control over the conduct of Contractor or any of Contractor' s officers, employees, or agents, except as set forth in this Agreement. Contractor shall not at any time or in any manner represent that it or any of its officers, employees, or agents are in any manner officers, employees, or agents of the City.

10. PERS Eligibility Indemnification. In the event that Contractor or any employee, agent, or subcontractor of Contractor providing services under this Agreement claims or is determined by a court of competent jurisdiction or the California Public Employees Retirement System ( PERS) to be eligible for enrollment in PERS as an employee of the City, Contractor shall indemnify, defend, and hold harmless City for the payment of any employee and/or employer contributions for PERS benefits on behalf of Contractor or its employees, agents, or subcontractors, as well as for the payment of any penalties and interest on such contributions. which would otherwise be the responsibility of City.

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Lake Elsinore City CouncilMarch 24, 2026

Lake Elsinore City Council
March 24, 2026