First American Title Company
California Department of Insurance License No. 2549-4
Escrow Officer: Aaron Capili
Phone: (916)677-8383
Fax No.: (866)648-7806
E-Mail: [email protected]
Title Officer: Jeanne Salm
Phone: (714)250-1072
Fax No.: (925)671-9437
E-Mail: [email protected]
E-Mail Loan Documents to: Lenders please contact the Escrow Officer for email address for sending loan documents.
Buyer: Jasper - Lincoln, L.P.
Owner: JEN California 24, LLC
Property: Lots 1-11, 30-42, 48-83, 86-101, 110-114 Final Map 2024- 218, oiner Ranch East - Phase 1
Lincoln, CA
PRELIMINARY REPORT
In response to the above referenced application for a policy of title insurance, this company hereby reports that it is prepared to issue, or cause to be issued, as of the date hereof, a Policy or Policies of Title Insurance describing the land and the estate or interest therein hereinafter set forth, insuring against loss which may be sustained by reason of any defect, lien or encumbrance not shown or referred to as an Exception below or not excluded from coverage pursuant to the printed Schedules, Conditions and Stipulations of said Policy forms.
The printed Exceptions and Exclusions from the coverage and Limitations on Covered Risks of said policy or policies are set forth in Exhibit A attached. The policy to be issued may contain an arbitration clause. When the Amount of Insurance is less than that set forth in the arbitration clause, all arbitrable matters shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. Limitations on Covered Risks applicable to the CLTA and ALTA Homeowner's Policies of Title Insurance which establish a Deductible Amount and a Maximum Dollar Limit of Liability for certain coverages are also set forth in Exhibit A. Copies of the policy forms should be read. They are available from the office which issued this report.
Please read the exceptions shown or referred to below and the exceptions and exclusions set forth in Exhibit A of this report carefully. The exceptions and exclusions are meant to provide you with notice of matters which are not covered under the terms of the title insurance policy and should be carefully considered.
It is important to note that this preliminary report is not a written representation as to the condition of title and may not list all liens, defects, and encumbrances affecting title to the land.
Please be advised that any provision contained in this document, or in a document that is attached, linked or referenced in this document, that under applicable law illegally discriminates against a class of individuals based upon personal characteristics such as race, color, religion, sex, sexual orientation, gender identity, familial status, disability, national origin, or any other legally protected class, is illegal and unenforceable by law.
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This report (and any supplements or amendments hereto) is issued solely for the purpose of facilitating the issuance of a policy of title insurance and no liability is assumed hereby. If it is desired that liability be assumed prior to the issuance of a policy of title insurance, a Binder or Commitment should be requested.
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Dated as of March 11, 2025 at 7:30 A.M.
The form of Policy of title insurance contemplated by this report is:
To Be Determined
A specific request should be made if another form or additional coverage is desired.
Title to said estate or interest at the date hereof is vested in:
JEN CALIFORNIA 24, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY The estate or interest in the land hereinafter described or referred to covered by this Report is:
Fee
The Land referred to herein is described as follows:
(See attached Legal Description)
At the date hereof exceptions to coverage in addition to the printed Exceptions and Exclusions in said policy form would be as follows:
1. General and special taxes and assessments for the fiscal year 2025-2026, a lien not yet due or payable.
2. General and special taxes for the fiscal year 2024-2025, are unsegregated at this time.
3. The lien of special tax assessed pursuant to Chapter 2.5 commencing with Section 53311 of the California Government Code for Community Facilities District No. 2018-1 (City Maintenance Services), as disclosed by Notice of Special Tax Lien recorded October 10, 2018 as Instrument No. 2018- 0073309 of Official Records.
The terms and provisions contained in the document entitled "Notice of Special Tax Lien (Annexation)" recorded October 09, 2024 as Instrument No. 2024-0053736 of Official Records.
4. The lien of special tax assessed pursuant to Chapter 2.5 commencing with Section 53311 of the California Government Code for Community Facilities District No. 2018-2 (Public Services), as disclosed by Notice of Special Tax Lien recorded October 10, 2018 as Instrument No. 2018-0073310 of Official Records.
The terms and provisions contained in the document entitled "Notice of Special Tax Lien (Annexation)" recorded October 09, 2024 as Instrument No. 2024-0053738 of Official Records. 523
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5. The lien of supplemental taxes, if any, assessed pursuant to Chapter 3.5 commencing with Section 75 of the California Revenue and Taxation Code.
6. The terms and provisions contained in the document recorded November 17, 1989, in Book 3762,
7. An option in favor of D.R. HORTON CA2, INC., a California corporation as contained in or disclosed by a document recorded September 6, 2023 as Instrument No. 2023-0047459-00 of Official Records.
8. A Deed of Trust to secure an original indebtedness of $4,606,463.00 recorded September 6, 2023 as Instrument No. 2023-0047460-00 of Official Records.
Dated: September 6, 2023
Trustor: JEN CALIFORNIA 24, LLC, a California limited liability company Trustee: FIRST AMERICAN TITLE COMPANY
Beneficiary: D.R. HORTON CA2, INC., a California corporation
Affects: The land and other property.
a. If this deed of trust is to be eliminated in the policy or policies contemplated by this report/commitment, the company will require the following for review prior to the recordation of any documents or the issuance of any policy of title insurance:
i. Original note and deed of trust.
ii. Payoff demand statement signed by all present beneficiaries. iii. Request for reconveyance or substitution of trustee and full reconveyance must be signed by all present beneficiaries and must be notarized by a First American approved notary.
b. If the payoff demand statement or the request for reconveyance is to be signed by a servicer, we will also require a full copy of the loan servicing agreement executed by all present beneficiaries.
c. If any of the beneficial interest is presently held by trustees under a trust agreement, we will require a certification pursuant to Section 18100.5 of the California Probate Code in a form satisfactory to the Company.
9. The terms and provisions contained in the document entitled "Frontage/Public Improvement Agreement" recorded August 01, 2024 as Instrument No. 2024-0040606 of Official Records.
10. An easement for nuisance and incidental purposes, recorded November 20, 2024 as Instrument No. 2024-0063252 of Official Records.
In Favor of: SIERRA PACIFIC INDUSTRIES, a California corporation Affects: as described therein
Terms and provisions contained in the above document.
11. An easement shown or dedicated on the Map as referred to in the legal description
For: Public utility and incidental purposes.
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12. The following matters shown or disclosed by the filed or recorded map referred to in the legal description:
The following is a dedication to the City Of Lincoln for Underground Water Rights:
We hereby relinquish and waive our priority to any and all Underground Water Rights associated with the real property within all Lots as shown within this Subdivision boundary.
13. The terms and provisions contained in the document entitled "Joiner Ranch East (Phase 1) Subdivision Improvement Agreement" recorded November 20, 2024 as Instrument No. 2024-0063254 of Official Records.
14. Water rights, claims or title to water, whether or not shown by the Public Records.
15. Rights of parties in possession.
16. Any facts, rights, interests or claims which would be disclosed by a correct ALTA/NSPS survey.
Prior to the issuance of any policy of title insurance, the Company will require:
17. With respect to JEN CALIFORNIA 24, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY:
a. A copy of its operating agreement or similar document and any amendments thereto; b. A official copy of its articles of organization or similar incorporation document and any corrections, amendments or restatements thereto;
c. Evidence that the limited liability company is properly formed and is in good standing in the state of its domicile;
d. Other requirements which the Company may impose following its review of the material required herein and other information which the Company may require.
18. An ALTA/NSPS survey of recent date which complies with the current minimum standard detail requirements for ALTA/NSPS land title surveys.
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INFORMATIONAL NOTES
Note: The policy to be issued may contain an arbitration clause. When the Amount of Insurance is less than the certain dollar amount set forth in any applicable arbitration clause, all arbitrable matters shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. If you desire to review the terms of the policy, including any arbitration clause that may be included, contact the office that issued this Commitment or Report to obtain a sample of the policy jacket for the policy that is to be issued in connection with your transaction.
1. General and special taxes and assessments for the fiscal year 2024-2025.
First Installment: $10,105.04, PAID
Penalty: $0.00
Second Installment: $10,105.04, PAID
Penalty: $0.00
Tax Rate Area: 003006
A. P. No.: 021-310-075-000
(Affects a portion of land and other property)
2. General and special taxes and assessments for the fiscal year 2024-2025.
First Installment: $54,397.22, PAID
Penalty: $0.00
Second Installment: $54,397.22, PAID
Penalty: $0.00
Tax Rate Area: 003002
A. P. No.: 021-310-077-000
(Affects a portion of land and other property)
3. Supplemental taxes for the year 2023-2024 assessed pursuant to Chapter 3.5 commencing with Section 75 of the California Revenue and Taxation Code.
First Installment: $9,251.90, PAID
Penalty: $0.00
Second Installment: $8,410.82, PAID
Penalty: $0.00
Tax Rate Area: 003006
A. P. No.: 021-310-075-000
(Affects a portion of land and other property)
4. Supplemental taxes for the year 2023-2024 assessed pursuant to Chapter 3.5 commencing with Section 75 of the California Revenue and Taxation Code.
First Installment: $45,236.58, PAID
Penalty: $0.00
Second Installment: $45,236.58, PAID
Penalty: $0.00
Tax Rate Area: 003002
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A. P. No.: 021-310-077-000
(Affects a portion of land and other property)
5. The property covered by this report is vacant land.
6. According to the public records, there has been no conveyance of the land within a period of twenty four months prior to the date of this report, except as follows:
A document recorded August 30, 2023 as INSTRUMENT NO. 2023-0046395 of Official Records.
From: JAMES S. JOINER, AS SUCCESSOR TRUSTEE OF THE KATHLEEN JOINER SWIFT IRREVOCABLE TRUST DATED DECEMBER 28, 2012
To: JOINER LIMITED PARTNERSHIP, A CALIFORNIA LIMITED PARTNERSHIP
A document recorded August 30, 2023 as INSTRUMENT NO. 2023-0046396 of Official Records.
From: JAMES S. JOINER, AS SUCCESSOR TRUSTEE OF SIERRA TRUST DATED MAY 2, 1977
To: THE JOINER LIMITED PARTNERSHIP, A CALIFORNIA LIMITED
PARTNERSHIP
A document recorded August 30, 2023 as INSTRUMENT NO. 2023-0046397 of Official Records.
From: JAMES S. JOINER, AS SUCCESSOR TRUSTEE OF THE RICHARD JOINER IRREVOCABLE TRUST DATED DECEMBER 28, 2012
To: JOINER LIMITED PARTNERSHIP, A CALIFORNIA LIMITED PARTNERSHIP
A document recorded August 30, 2023 as INSTRUMENT NO. 2023-0046398 of Official Records.
From: JAMES S. JOINER, AS SUCCESSOR TRUSTEE OF THE PAUL JOINER IRREVOCABLE TRUST DATED DECEMBER 28, 2012
To: JOINER LIMITED PARTNERSHIP, A CALIFORNIA LIMITED PARTNERSHIP
A document recorded August 30, 2023 as INSTRUMENT NO. 2023-0046399 of Official Records.
From: JAMES S. JOINER, AS SUCCESSOR TRUSTEE OF THE JAMES S. JOINER IRREVOCABLE TRUST DATED DECEMBER 28, 2012
To: JOINER LIMITED PARTNERSHIP, A CALIFORNIA LIMITED PARTNERSHIP
A document recorded August 30, 2023 as INSTRUMENT NO. 2023-0046400 of Official Records.
From: JOINER LIMITED PARTNERSHIP, A CALIFORNIA LIMITED PARTNERSHIP To: JEN CALIFORNIA 24, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY
The map attached, if any, may or may not be a survey of the land depicted hereon. First American expressly disclaims any liability for loss or damage which may result from reliance on this map except to the extent coverage for such loss or damage is expressly provided by the terms and provisions of the title insurance policy, if any, to which this map is attached. 527
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LEGAL DESCRIPTION
Real property in the City of Lincoln, County of Placer, State of California, described as follows:
Lots 1 through 11, 30 through 42, 48 through 83, 86 through 101 and 110 through 114, inclusive, as shown on the map entitled “Final Map No. 2024-218 ", JOINER RANCH EAST - PHASE 1, filed for record on November 20, 2024 in Book GG of Maps, at Page 99, Placer County Records.
APN: Portions of 021-310-075-000 and 021-310-077-000 (Underlying APN's);
009-410-001-000 through 009-410-011-000 (Lots 1 through 11), 009-410-030-000 through 009-410-042- 000 (Lots 30 through 42), 009-410-048-000 through 009-410-083-000 (Lots 48 through 83), 009-410- 086-000 through 009-410-101-000 (Lots 86 through 101), 009-410-110-000 through 009-410-114-000 (Lots 110 through 114)(New APN's, Not yet assessed).
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NOTICE
Section 12413.1 of the California Insurance Code, effective January 1, 1990, requires that any title insurance company, underwritten title company, or controlled escrow company handling funds in an escrow or sub- escrow capacity, wait a specified number of days after depositing funds, before recording any documents in connection with the transaction or disbursing funds. This statute allows for funds deposited by wire transfer to be disbursed the same day as deposit. In the case of cashier's checks or certified checks, funds may be disbursed the next day after deposit. In order to avoid unnecessary delays of three to seven days, or more, please use wire transfer, cashier's checks, or certified checks whenever possible.
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EXHIBIT A
LIST OF PRINTED EXCEPTIONS AND EXCLUSIONS (BY POLICY TYPE) CLTA/ALTA HOMEOWNER'S POLICY OF TITLE INSURANCE [(07-01-2021) v. 01.00]
EXCLUSIONS FROM COVERAGE
The following matters are excluded from the coverage of this policy and We will not pay loss or damage, costs, attorneys' fees, or expenses that arise by reason of:
1. a. any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) that restricts, regulates, prohibits, or relates to:
i. the occupancy, use, or enjoyment of the Land;
ii. the character, dimensions, or location of any improvement on the Land; iii. the subdivision of land; or
iv. environmental remediation or protection.
b. any governmental forfeiture, police, or regulatory, or national security power. c. the effect of a violation or enforcement of any matter excluded under Exclusion 1.a. or 1.b.
Exclusion 1 does not modify or limit the coverage provided under Covered Risk 8.a., 14, 15, 16, 18, 19, 20, 23, or 27.
2. Any power to take the Land by condemnation. Exclusion 2 does not modify or limit the coverage provided under Covered Risk 17.
3. Any defect, lien, encumbrance, adverse claim, or other matter:
a. created, suffered, assumed, or agreed to by You;
b. not Known to Us, not recorded in the Public Records at the Date of Policy, but Known to You and not disclosed in writing to Us by You prior to the date You became an Insured under this policy; c. resulting in no loss or damage to You;
d. attaching or created subsequent to the Date of Policy (Exclusion 3.d. does not modify or limit the coverage provided under Covered Risk 5, 8.f., 25, 26, 27, 28, or 32); or
e. resulting in loss or damage that would not have been sustained if You paid consideration sufficient to qualify You as a bona fide purchaser of the Title at the Date of Policy.
4. Lack of a right:
a. to any land outside the area specifically described and referred to in Item 3 of Schedule A; and b. in any street, road, avenue, alley, lane, right-of-way, body of water, or waterway that abut the Land.
Exclusion 4 does not modify or limit the coverage provided under Covered Risk 11 or 21.
5. The failure of Your existing structures, or any portion of Your existing structures, to have been constructed before, on, or after the Date of Policy in accordance with applicable building codes. Exclusion 5 does not modify or limit the coverage provided under Covered Risk 14 or 15.
6. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors’ rights law, that the transfer of the Title to You is a:
a. fraudulent conveyance or fraudulent transfer;
b. voidable transfer under the Uniform Voidable Transactions Act; or c. preferential transfer:
i. to the extent the instrument of transfer vesting the Title as shown in Schedule A is not a transfer made as a contemporaneous exchange for new value; or
ii. for any other reason not stated in Covered Risk 30.
7. Contamination, explosion, fire, flooding, vibration, fracturing, earthquake, or subsidence.
8. Negligence by a person or an entity exercising a right to extract or develop oil, gas, minerals, groundwater, or any other subsurface substance.
9. Any lien on Your Title for real estate taxes or assessments imposed or collected by a governmental authority that becomes due and payable after the Date of Policy. Exclusion 9 does not modify or limit the coverage provided under Covered Risk 8.a. or 27.
10. Any discrepancy in the quantity of the area, square footage, or acreage of the Land or of any improvement to the Land.
LIMITATIONS ON COVERED RISKS
Your insurance for the following Covered Risks is limited on the Owner’s Coverage Statement as follows:
For Covered Risk 16, 18, 19, and 21 Your Deductible Amount and Our Maximum Dollar Limit of Liability shown in Schedule A.
The deductible amounts and maximum dollar limits shown on Schedule A are as follows:
Your Deductible Amount Our Maximum Dollar Limit of Liability
Covered Risk 16: 1% of Policy Amount Shown in Schedule A or $2,500 $10,000 (whichever is less)
Covered Risk 18: 1% of Policy Amount Shown in Schedule A or $5,000 $25,000 (whichever is less)
Covered Risk 19: 1% of Policy Amount Shown on Schedule A or $5,000 $25,000 (whichever is less)
Covered Risk 21: 1% of Policy Amount Shown on Schedule A or $2,500 $5,000 (whichever is less)
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ALTA OWNER'S POLICY [(07-01-2021) V. 01.00]
CLTA STANDARD COVERAGE OWNER'S POLICY [(02-04-22) V. 01.00]
EXCLUSIONS FROM COVERAGE
The following matters are excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys’ fees, or expenses that arise by reason of:
1. a. any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) that restricts, regulates, prohibits, or relates to:
i. the occupancy, use, or enjoyment of the Land;
ii. the character, dimensions, or location of any improvement on the Land; iii. the subdivision of land; or
iv. environmental remediation or protection.
b. any governmental forfeiture, police, regulatory, or national security power. c. the effect of a violation or enforcement of any matter excluded under Exclusion 1.a. or 1.b.
Exclusion 1 does not modify or limit the coverage provided under Covered Risk 5 or 6.
2. Any power of eminent domain. Exclusion 2 does not modify or limit the coverage provided under Covered Risk 7.
3. Any defect, lien, encumbrance, adverse claim, or other matter:
a. created, suffered, assumed, or agreed to by the Insured Claimant; b. not Known to the Company, not recorded in the Public Records at the Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy;
c. resulting in no loss or damage to the Insured Claimant; d. attaching or created subsequent to the Date of Policy (Exclusion 3.d. does not modify or limit the coverage provided under Covered Risk 9 or 10); or
e. resulting in loss or damage that would not have been sustained if consideration sufficient to qualify the Insured named in Schedule A as a bona fide purchaser had been given for the Title at the Date of Policy.
4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors’ rights law, that the transaction vesting the Title as shown in Schedule A is a:
a. fraudulent conveyance or fraudulent transfer;
b. voidable transfer under the Uniform Voidable Transactions Act; or c. preferential transfer:
i. to the extent the instrument of transfer vesting the Title as shown in Schedule A is not a transfer made as a contemporaneous exchange for new value; or
ii. for any other reason not stated in Covered Risk 9.b.
5. Any claim of a PACA-PSA Trust. Exclusion 5 does not modify or limit the coverage provided under Covered Risk 8.
6. Any lien on the Title for real estate taxes or assessments imposed or collected by a governmental authority that becomes due and payable after the Date of Policy. Exclusion 6 does not modify or limit the coverage provided under Covered Risk 2.b.
7. Any discrepancy in the quantity of the area, square footage, or acreage of the Land or of any improvement to the Land.
NOTE: The 2021 ALTA Owner’s Policy may be issued to afford either Standard Coverage or Extended Coverage. In addition to variable exceptions such as taxes, easements, CC&R’s, etc., the Exceptions from Coverage in a Standard Coverage policy will also include the Western Regional Standard Coverage Exceptions listed below as numbers 1 through 7. The 2021 CLTA Standard Coverage Owner’s Policy will include the Western Regional Standard Coverage Exceptions listed below as numbers 1 through 7.
EXCEPTIONS FROM COVERAGE
Some historical land records contain Discriminatory Covenants that are illegal and unenforceable by law. This policy treats any Discriminatory Covenant in a document referenced in Schedule B as if each Discriminatory Covenant is redacted, repudiated, removed, and not republished or recirculated. Only the remaining provisions of the document are excepted from coverage.
This policy does not insure against loss or damage and the Company will not pay costs, attorneys’ fees, or expenses resulting from the terms and conditions of any lease or easement identified in Schedule A, and the following matters:
1. (a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public Records.
2. Any facts, rights, interests, or claims that are not shown by the Public Records but that could be ascertained by an inspection of the Land or that may be asserted by persons in possession of the Land.
3. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records.
4. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and not shown by the Public Records.
5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by the Public Records.
6. Any lien or right to a lien for services, labor or material unless such lien is shown by the Public Records at Date of Policy.
7. Any claim to (a) ownership of or rights to minerals and similar substances, including but not limited to ores, metals, coal, lignite, oil, gas, 533
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uranium, clay, rock, sand, and gravel located in, on, or under the Land or produced from the Land, whether such ownership or rights arise by lease, grant, exception, conveyance, reservation, or otherwise; and (b) any rights, privileges, immunities, rights of way, and easements associated therewith or appurtenant thereto, whether or not the interests or rights excepted in (a) or (b) appear in the Public Records or are shown in Schedule B.
2006 ALTA OWNER'S POLICY (06-17-06)
EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys' fees, or expenses that arise by reason of:
1. (a) Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to
(i) the occupancy, use, or enjoyment of the Land;
(ii) the character, dimensions, or location of any improvement erected on the Land; (iii) the subdivision of land; or
(iv) environmental protection;
or the effect of any violation of these laws, ordinances, or governmental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5.
(b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 6.
2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8.
3. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed, or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy;
(c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 9 and 10); or
(e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title.
4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors’ rights laws, that the transaction vesting the Title as shown in Schedule A, is
(a) a fraudulent conveyance or fraudulent transfer; or
(b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy.
5. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A.
NOTE: The 2006 ALTA Owner’s Policy may be issued to afford either Standard Coverage or Extended Coverage. In addition to variable exceptions such as taxes, easements, CC&R’s, etc., the Exceptions from Coverage in a Standard Coverage policy will also include the Western Regional Standard Coverage Exceptions listed below as numbers 1 through 7.
EXCEPTIONS FROM COVERAGE
This policy does not insure against loss or damage, and the Company will not pay costs, attorneys’ fees or expenses, that arise by reason of:
The above policy form may be issued to afford either Standard Coverage or Extended Coverage. In addition to the above Exclusions from Coverage, the Exceptions from Coverage in a Standard Coverage policy will also include the following Exceptions from Coverage:
1. (a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public Records.
2. Any facts, rights, interests, or claims that are not shown by the Public Records at Date of Policy but that could be (a) ascertained by an inspection of the Land, or (b) asserted by persons or parties in possession of the Land.
3. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records at Date of Policy.
4. Any encroachment, encumbrance, violation, variation, easement, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and not shown by the Public Records at Date of Policy.
5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by the Public Records.
6. Any lien or right to a lien for services, labor, material or equipment unless such lien is shown by the Public Records at Date of Policy.
7. Any claim to (a) ownership of or rights to minerals and similar substances, including but not limited to ores, metals, coal, lignite, oil, gas, uranium, clay, rock, sand, and gravel located in, on, or under the Land or produced from the Land, whether such ownership or rights arise by lease, grant, exception, conveyance, reservation, or otherwise; and (b) any rights, privileges, immunities, rights of way, and easements associated therewith or appurtenant thereto, whether or not the interests or rights excepted in (a) or (b) appear in the Public Records or are shown in Schedule B.
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First American Title Company
California Department of Insurance License No. 2549-4
Escrow Officer: Aaron Capili
Phone: (916)677-8383
Fax No.: (866)648-7806
E-Mail: [email protected]
Title Officer: Jeanne Salm
Phone: (714)250-1072
Fax No.: (925)671-9437
E-Mail: [email protected]
E-Mail Loan Documents to: Lenders please contact the Escrow Officer for email address for sending loan documents.
Buyer: D.R. Horton CA2, Inc.
Owner: JEN California 24, LLC
Property: Lots 12-29, 84 & 85, Final Map 2024-218 Joiner Ranch, East - Phase 1
Lincoln, CA
PRELIMINARY REPORT
In response to the above referenced application for a policy of title insurance, this company hereby reports that it is prepared to issue, or cause to be issued, as of the date hereof, a Policy or Policies of Title Insurance describing the land and the estate or interest therein hereinafter set forth, insuring against loss which may be sustained by reason of any defect, lien or encumbrance not shown or referred to as an Exception below or not excluded from coverage pursuant to the printed Schedules, Conditions and Stipulations of said Policy forms.
The printed Exceptions and Exclusions from the coverage and Limitations on Covered Risks of said policy or policies are set forth in Exhibit A attached. The policy to be issued may contain an arbitration clause. When the Amount of Insurance is less than that set forth in the arbitration clause, all arbitrable matters shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. Limitations on Covered Risks applicable to the CLTA and ALTA Homeowner's Policies of Title Insurance which establish a Deductible Amount and a Maximum Dollar Limit of Liability for certain coverages are also set forth in Exhibit A. Copies of the policy forms should be read. They are available from the office which issued this report.
Please read the exceptions shown or referred to below and the exceptions and exclusions set forth in Exhibit A of this report carefully. The exceptions and exclusions are meant to provide you with notice of matters which are not covered under the terms of the title insurance policy and should be carefully considered.
It is important to note that this preliminary report is not a written representation as to the condition of title and may not list all liens, defects, and encumbrances affecting title to the land.
Please be advised that any provision contained in this document, or in a document that is attached, linked or referenced in this document, that under applicable law illegally discriminates against a class of individuals based upon personal characteristics such as race, color, religion, sex, sexual orientation, gender identity, familial status, disability, national origin, or any other legally protected class, is illegal and unenforceable by law.
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CLTA Preliminary Report Form Order Number: 0131-627197-001 (Rev. 11/06) Page Number: 2
First American Title
This report (and any supplements or amendments hereto) is issued solely for the purpose of facilitating the issuance of a policy of title insurance and no liability is assumed hereby. If it is desired that liability be assumed prior to the issuance of a policy of title insurance, a Binder or Commitment should be requested.
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Dated as of March 11, 2025 at 7:30 A.M.
The form of Policy of title insurance contemplated by this report is:
To Be Determined
A specific request should be made if another form or additional coverage is desired.
Title to said estate or interest at the date hereof is vested in:
JEN CALIFORNIA 24, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY The estate or interest in the land hereinafter described or referred to covered by this Report is:
Fee
The Land referred to herein is described as follows:
(See attached Legal Description)
At the date hereof exceptions to coverage in addition to the printed Exceptions and Exclusions in said policy form would be as follows:
1. General and special taxes and assessments for the fiscal year 2025-2026, a lien not yet due or payable.
2. General and special taxes for the fiscal year 2024-2025, are unsegregated at this time.
3. The lien of special tax assessed pursuant to Chapter 2.5 commencing with Section 53311 of the California Government Code for Community Facilities District No. 2018-1 (City Maintenance Services), as disclosed by Notice of Special Tax Lien recorded October 10, 2018 as Instrument No. 2018- 0073309 of Official Records.
The terms and provisions contained in the document entitled "Notice of Special Tax Lien (Annexation)" recorded October 09, 2024 as Instrument No. 2024-0053736 of Official Records.
4. The lien of special tax assessed pursuant to Chapter 2.5 commencing with Section 53311 of the California Government Code for Community Facilities District No. 2018-2 (Public Services), as disclosed by Notice of Special Tax Lien recorded October 10, 2018 as Instrument No. 2018-0073310 of Official Records.
The terms and provisions contained in the document entitled "Notice of Special Tax Lien (Annexation)" recorded October 09, 2024 as Instrument No. 2024-0053738 of Official Records. 537
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5. The lien of supplemental taxes, if any, assessed pursuant to Chapter 3.5 commencing with Section 75 of the California Revenue and Taxation Code.
6. The terms and provisions contained in the document recorded November 17, 1989, in Book 3762,
7. An option in favor of D.R. HORTON CA2, INC., a California corporation as contained in or disclosed by a document recorded September 6, 2023 as Instrument No. 2023-0047459-00 of Official Records.
8. A Deed of Trust to secure an original indebtedness of $4,606,463.00 recorded September 6, 2023 as Instrument No. 2023-0047460-00 of Official Records.
Dated: September 6, 2023
Trustor: JEN CALIFORNIA 24, LLC, a California limited liability company Trustee: FIRST AMERICAN TITLE COMPANY
Beneficiary: D.R. HORTON CA2, INC., a California corporation
Affects: The land and other property.
a. If this deed of trust is to be eliminated in the policy or policies contemplated by this report/commitment, the company will require the following for review prior to the recordation of any documents or the issuance of any policy of title insurance:
i. Original note and deed of trust.
ii. Payoff demand statement signed by all present beneficiaries. iii. Request for reconveyance or substitution of trustee and full reconveyance must be signed by all present beneficiaries and must be notarized by a First American approved notary.
b. If the payoff demand statement or the request for reconveyance is to be signed by a servicer, we will also require a full copy of the loan servicing agreement executed by all present beneficiaries.
c. If any of the beneficial interest is presently held by trustees under a trust agreement, we will require a certification pursuant to Section 18100.5 of the California Probate Code in a form satisfactory to the Company.
9. The terms and provisions contained in the document entitled "Frontage/Public Improvement Agreement" recorded August 01, 2024 as Instrument No. 2024-0040606 of Official Records.
10. An easement for nuisance and incidental purposes, recorded November 20, 2024 as Instrument No. 2024-0063252 of Official Records.
In Favor of: SIERRA PACIFIC INDUSTRIES, a California corporation Affects: as described therein
The location of the easement cannot be determined from record information.
Terms and provisions contained in the above document.
11. An easement shown or dedicated on the Map as referred to in the legal description
For: Public Utility and incidental purposes.
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12. The following matters shown or disclosed by the filed or recorded map referred to in the legal description:
The following is a dedication to the City of Lincoln for underground water rights:
We hereby relinquish and waive our priority to any and all underground water rights associated with the real property within all Lots as shown within this subdivision boundary.
13. The terms and provisions contained in the document entitled "Joiner Ranch East (Phase 1) Subdivision Improvement Agreement" recorded November 20, 2024 as Instrument No. 2024-0063254 of Official Records.
14. Water rights, claims or title to water, whether or not shown by the Public Records.
15. Any facts, rights, interests or claims which would be disclosed by a correct ALTA/NSPS survey.
16. Rights of parties in possession.
Prior to the issuance of any policy of title insurance, the Company will require:
17. With respect to JEN CALIFORNIA 24, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY:
a. A copy of its operating agreement or similar document and any amendments thereto; b. A official copy of its articles of organization or similar incorporation document and any corrections, amendments or restatements thereto;
c. Evidence that the limited liability company is properly formed and is in good standing in the state of its domicile;
d. Other requirements which the Company may impose following its review of the material required herein and other information which the Company may require.
18. An ALTA/NSPS survey of recent date which complies with the current minimum standard detail requirements for ALTA/NSPS land title surveys.
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INFORMATIONAL NOTES
Note: The policy to be issued may contain an arbitration clause. When the Amount of Insurance is less than the certain dollar amount set forth in any applicable arbitration clause, all arbitrable matters shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. If you desire to review the terms of the policy, including any arbitration clause that may be included, contact the office that issued this Commitment or Report to obtain a sample of the policy jacket for the policy that is to be issued in connection with your transaction.
1. General and special taxes and assessments for the fiscal year 2024-2025.
First Installment: $10,105.04, PAID
Penalty: $0.00
Second Installment: $10,105.04, PAID
Penalty: $0.00
Tax Rate Area: 003006
A. P. No.: 021-310-075-000
(Affects Portion of the land and other property)
2. General and special taxes and assessments for the fiscal year 2024-2025.
First Installment: $54,397.22, PAID
Penalty: $0.00
Second Installment: $54,397.22, PAID
Penalty: $0.00
Tax Rate Area: 003002
A. P. No.: 021-310-077-000
(Affects Portion of the land and other property)
3. Supplemental taxes for the year 2023-2024 assessed pursuant to Chapter 3.5 commencing with Section 75 of the California Revenue and Taxation Code.
First Installment: $9,251.90, PAID
Penalty: $0.00
Second Installment: $8,410.82, PAID
Penalty: $0.00
Tax Rate Area: 003006
A. P. No.: 021-310-075-000
(Affects Portion of the land and other property)
4. Supplemental taxes for the year 2023-2024 assessed pursuant to Chapter 3.5 commencing with Section 75 of the California Revenue and Taxation Code.
First Installment: $45,236.58, PAID
Penalty: $0.00
Second Installment: $45,236.58, PAID
Penalty: $0.00
Tax Rate Area: 003002
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A. P. No.: 021-310-077-000
(Affects Portion of the land and other property)
5. The property covered by this report is vacant land.
6. According to the public records, there has been no conveyance of the land within a period of twenty four months prior to the date of this report, except as follows:
A document recorded August 30, 2023 as INSTRUMENT NO. 2023-0046395 of Official Records.
From: JAMES S. JOINER, AS SUCCESSOR TRUSTEE OF THE KATHLEEN JOINER SWIFT IRREVOCABLE TRUST DATED DECEMBER 28, 2012
To: JOINER LIMITED PARTNERSHIP, A CALIFORNIA LIMITED PARTNERSHIP
A document recorded August 30, 2023 as INSTRUMENT NO. 2023-0046396 of Official Records.
From: JAMES S. JOINER, AS SUCCESSOR TRUSTEE OF SIERRA TRUST DATED MAY 2, 1977
To: THE JOINER LIMITED PARTNERSHIP, A CALIFORNIA LIMITED
PARTNERSHIP
A document recorded August 30, 2023 as INSTRUMENT NO. 2023-0046397 of Official Records.
From: JAMES S. JOINER, AS SUCCESSOR TRUSTEE OF THE RICHARD JOINER IRREVOCABLE TRUST DATED DECEMBER 28, 2012
To: JOINER LIMITED PARTNERSHIP, A CALIFORNIA LIMITED PARTNERSHIP
A document recorded August 30, 2023 as INSTRUMENT NO. 2023-0046398 of Official Records.
From: JAMES S. JOINER, AS SUCCESSOR TRUSTEE OF THE PAUL JOINER IRREVOCABLE TRUST DATED DECEMBER 28, 2012
To: JOINER LIMITED PARTNERSHIP, A CALIFORNIA LIMITED PARTNERSHIP
A document recorded August 30, 2023 as INSTRUMENT NO. 2023-0046399 of Official Records.
From: JAMES S. JOINER, AS SUCCESSOR TRUSTEE OF THE JAMES S. JOINER IRREVOCABLE TRUST DATED DECEMBER 28, 2012
To: JOINER LIMITED PARTNERSHIP, A CALIFORNIA LIMITED PARTNERSHIP
A document recorded August 30, 2023 as INSTRUMENT NO. 2023-0046400 of Official Records.
From: JOINER LIMITED PARTNERSHIP, A CALIFORNIA LIMITED PARTNERSHIP To: JEN CALIFORNIA 24, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY
The map attached, if any, may or may not be a survey of the land depicted hereon. First American expressly disclaims any liability for loss or damage which may result from reliance on this map except to the extent coverage for such loss or damage is expressly provided by the terms and provisions of the title insurance policy, if any, to which this map is attached. 541
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Page Number: 8
First American Title
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LEGAL DESCRIPTION
Real property in the City of Lincoln, County of Placer, State of California, described as follows:
Lots 12 through 29, inclusive, 84 and 85 as shown on the map entitled “FINAL MAP NO. 2024-218 ", JOINER RANCH EAST - PHASE 1, filed for record on November 20, 2024 in Book GG of Maps, at Page 99, Placer County Records.
APN: Portions of 021-310-075-000 and 021-310-077-000 (Underlying APN), Portion of 021-310-102-000 (New Underlying APN, not yet assessed);
009-410-012-000 through 009-410-029-000 (Lots 12 through 29), 009-410-084-000 (Lot 84) and 009- 410-085-000 (Lot 85) (New APNs, not yet assessed)
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NOTICE
Section 12413.1 of the California Insurance Code, effective January 1, 1990, requires that any title insurance company, underwritten title company, or controlled escrow company handling funds in an escrow or sub- escrow capacity, wait a specified number of days after depositing funds, before recording any documents in connection with the transaction or disbursing funds. This statute allows for funds deposited by wire transfer to be disbursed the same day as deposit. In the case of cashier's checks or certified checks, funds may be disbursed the next day after deposit. In order to avoid unnecessary delays of three to seven days, or more, please use wire transfer, cashier's checks, or certified checks whenever possible.
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EXHIBIT A
LIST OF PRINTED EXCEPTIONS AND EXCLUSIONS (BY POLICY TYPE) CLTA/ALTA HOMEOWNER'S POLICY OF TITLE INSURANCE [(07-01-2021) v. 01.00]
EXCLUSIONS FROM COVERAGE
The following matters are excluded from the coverage of this policy and We will not pay loss or damage, costs, attorneys' fees, or expenses that arise by reason of:
1. a. any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) that restricts, regulates, prohibits, or relates to:
i. the occupancy, use, or enjoyment of the Land;
ii. the character, dimensions, or location of any improvement on the Land; iii. the subdivision of land; or
iv. environmental remediation or protection.
b. any governmental forfeiture, police, or regulatory, or national security power. c. the effect of a violation or enforcement of any matter excluded under Exclusion 1.a. or 1.b.
Exclusion 1 does not modify or limit the coverage provided under Covered Risk 8.a., 14, 15, 16, 18, 19, 20, 23, or 27.
2. Any power to take the Land by condemnation. Exclusion 2 does not modify or limit the coverage provided under Covered Risk 17.
3. Any defect, lien, encumbrance, adverse claim, or other matter:
a. created, suffered, assumed, or agreed to by You;
b. not Known to Us, not recorded in the Public Records at the Date of Policy, but Known to You and not disclosed in writing to Us by You prior to the date You became an Insured under this policy; c. resulting in no loss or damage to You;
d. attaching or created subsequent to the Date of Policy (Exclusion 3.d. does not modify or limit the coverage provided under Covered Risk 5, 8.f., 25, 26, 27, 28, or 32); or
e. resulting in loss or damage that would not have been sustained if You paid consideration sufficient to qualify You as a bona fide purchaser of the Title at the Date of Policy.
4. Lack of a right:
a. to any land outside the area specifically described and referred to in Item 3 of Schedule A; and b. in any street, road, avenue, alley, lane, right-of-way, body of water, or waterway that abut the Land.
Exclusion 4 does not modify or limit the coverage provided under Covered Risk 11 or 21.
5. The failure of Your existing structures, or any portion of Your existing structures, to have been constructed before, on, or after the Date of Policy in accordance with applicable building codes. Exclusion 5 does not modify or limit the coverage provided under Covered Risk 14 or 15.
6. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors’ rights law, that the transfer of the Title to You is a:
a. fraudulent conveyance or fraudulent transfer;
b. voidable transfer under the Uniform Voidable Transactions Act; or c. preferential transfer:
i. to the extent the instrument of transfer vesting the Title as shown in Schedule A is not a transfer made as a contemporaneous exchange for new value; or
ii. for any other reason not stated in Covered Risk 30.
7. Contamination, explosion, fire, flooding, vibration, fracturing, earthquake, or subsidence.
8. Negligence by a person or an entity exercising a right to extract or develop oil, gas, minerals, groundwater, or any other subsurface substance.
9. Any lien on Your Title for real estate taxes or assessments imposed or collected by a governmental authority that becomes due and payable after the Date of Policy. Exclusion 9 does not modify or limit the coverage provided under Covered Risk 8.a. or 27.
10. Any discrepancy in the quantity of the area, square footage, or acreage of the Land or of any improvement to the Land.
LIMITATIONS ON COVERED RISKS
Your insurance for the following Covered Risks is limited on the Owner’s Coverage Statement as follows:
For Covered Risk 16, 18, 19, and 21 Your Deductible Amount and Our Maximum Dollar Limit of Liability shown in Schedule A.
The deductible amounts and maximum dollar limits shown on Schedule A are as follows:
Your Deductible Amount Our Maximum Dollar Limit of Liability
Covered Risk 16: 1% of Policy Amount Shown in Schedule A or $2,500 $10,000 (whichever is less)
Covered Risk 18: 1% of Policy Amount Shown in Schedule A or $5,000 $25,000 (whichever is less)
Covered Risk 19: 1% of Policy Amount Shown on Schedule A or $5,000 $25,000 (whichever is less)
Covered Risk 21: 1% of Policy Amount Shown on Schedule A or $2,500 $5,000 (whichever is less)
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ALTA OWNER'S POLICY [(07-01-2021) V. 01.00]
CLTA STANDARD COVERAGE OWNER'S POLICY [(02-04-22) V. 01.00]
EXCLUSIONS FROM COVERAGE
The following matters are excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys’ fees, or expenses that arise by reason of:
1. a. any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) that restricts, regulates, prohibits, or relates to:
i. the occupancy, use, or enjoyment of the Land;
ii. the character, dimensions, or location of any improvement on the Land; iii. the subdivision of land; or
iv. environmental remediation or protection.
b. any governmental forfeiture, police, regulatory, or national security power. c. the effect of a violation or enforcement of any matter excluded under Exclusion 1.a. or 1.b.
Exclusion 1 does not modify or limit the coverage provided under Covered Risk 5 or 6.
2. Any power of eminent domain. Exclusion 2 does not modify or limit the coverage provided under Covered Risk 7.
3. Any defect, lien, encumbrance, adverse claim, or other matter:
a. created, suffered, assumed, or agreed to by the Insured Claimant; b. not Known to the Company, not recorded in the Public Records at the Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy;
c. resulting in no loss or damage to the Insured Claimant; d. attaching or created subsequent to the Date of Policy (Exclusion 3.d. does not modify or limit the coverage provided under Covered Risk 9 or 10); or
e. resulting in loss or damage that would not have been sustained if consideration sufficient to qualify the Insured named in Schedule A as a bona fide purchaser had been given for the Title at the Date of Policy.
4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors’ rights law, that the transaction vesting the Title as shown in Schedule A is a:
a. fraudulent conveyance or fraudulent transfer;
b. voidable transfer under the Uniform Voidable Transactions Act; or c. preferential transfer:
i. to the extent the instrument of transfer vesting the Title as shown in Schedule A is not a transfer made as a contemporaneous exchange for new value; or
ii. for any other reason not stated in Covered Risk 9.b.
5. Any claim of a PACA-PSA Trust. Exclusion 5 does not modify or limit the coverage provided under Covered Risk 8.
6. Any lien on the Title for real estate taxes or assessments imposed or collected by a governmental authority that becomes due and payable after the Date of Policy. Exclusion 6 does not modify or limit the coverage provided under Covered Risk 2.b.
7. Any discrepancy in the quantity of the area, square footage, or acreage of the Land or of any improvement to the Land.
NOTE: The 2021 ALTA Owner’s Policy may be issued to afford either Standard Coverage or Extended Coverage. In addition to variable exceptions such as taxes, easements, CC&R’s, etc., the Exceptions from Coverage in a Standard Coverage policy will also include the Western Regional Standard Coverage Exceptions listed below as numbers 1 through 7. The 2021 CLTA Standard Coverage Owner’s Policy will include the Western Regional Standard Coverage Exceptions listed below as numbers 1 through 7.
EXCEPTIONS FROM COVERAGE
Some historical land records contain Discriminatory Covenants that are illegal and unenforceable by law. This policy treats any Discriminatory Covenant in a document referenced in Schedule B as if each Discriminatory Covenant is redacted, repudiated, removed, and not republished or recirculated. Only the remaining provisions of the document are excepted from coverage.
This policy does not insure against loss or damage and the Company will not pay costs, attorneys’ fees, or expenses resulting from the terms and conditions of any lease or easement identified in Schedule A, and the following matters:
1. (a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public Records.
2. Any facts, rights, interests, or claims that are not shown by the Public Records but that could be ascertained by an inspection of the Land or that may be asserted by persons in possession of the Land.
3. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records.
4. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and not shown by the Public Records.
5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by the Public Records.
6. Any lien or right to a lien for services, labor or material unless such lien is shown by the Public Records at Date of Policy.
7. Any claim to (a) ownership of or rights to minerals and similar substances, including but not limited to ores, metals, coal, lignite, oil, gas, 547
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uranium, clay, rock, sand, and gravel located in, on, or under the Land or produced from the Land, whether such ownership or rights arise by lease, grant, exception, conveyance, reservation, or otherwise; and (b) any rights, privileges, immunities, rights of way, and easements associated therewith or appurtenant thereto, whether or not the interests or rights excepted in (a) or (b) appear in the Public Records or are shown in Schedule B.
2006 ALTA OWNER'S POLICY (06-17-06)
EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys' fees, or expenses that arise by reason of:
1. (a) Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to
(i) the occupancy, use, or enjoyment of the Land;
(ii) the character, dimensions, or location of any improvement erected on the Land; (iii) the subdivision of land; or
(iv) environmental protection;
or the effect of any violation of these laws, ordinances, or governmental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5.
(b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 6.
2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8.
3. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed, or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy;
(c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 9 and 10); or
(e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title.
4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors’ rights laws, that the transaction vesting the Title as shown in Schedule A, is
(a) a fraudulent conveyance or fraudulent transfer; or
(b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy.
5. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A.
NOTE: The 2006 ALTA Owner’s Policy may be issued to afford either Standard Coverage or Extended Coverage. In addition to variable exceptions such as taxes, easements, CC&R’s, etc., the Exceptions from Coverage in a Standard Coverage policy will also include the Western Regional Standard Coverage Exceptions listed below as numbers 1 through 7.
EXCEPTIONS FROM COVERAGE
This policy does not insure against loss or damage, and the Company will not pay costs, attorneys’ fees or expenses, that arise by reason of:
The above policy form may be issued to afford either Standard Coverage or Extended Coverage. In addition to the above Exclusions from Coverage, the Exceptions from Coverage in a Standard Coverage policy will also include the following Exceptions from Coverage:
1. (a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public Records.
2. Any facts, rights, interests, or claims that are not shown by the Public Records at Date of Policy but that could be (a) ascertained by an inspection of the Land, or (b) asserted by persons or parties in possession of the Land.
3. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records at Date of Policy.
4. Any encroachment, encumbrance, violation, variation, easement, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and not shown by the Public Records at Date of Policy.
5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by the Public Records.
6. Any lien or right to a lien for services, labor, material or equipment unless such lien is shown by the Public Records at Date of Policy.
7. Any claim to (a) ownership of or rights to minerals and similar substances, including but not limited to ores, metals, coal, lignite, oil, gas, uranium, clay, rock, sand, and gravel located in, on, or under the Land or produced from the Land, whether such ownership or rights arise by lease, grant, exception, conveyance, reservation, or otherwise; and (b) any rights, privileges, immunities, rights of way, and easements associated therewith or appurtenant thereto, whether or not the interests or rights excepted in (a) or (b) appear in the Public Records or are shown in Schedule B.
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First American Title
First American Title Company
California Department of Insurance License No. 2549-4
Escrow Officer: Aaron Capili
Phone: (916)677-8383
Fax No.: (866)648-7806
E-Mail: [email protected]
Title Officer: Jeanne Salm
Phone: (714)250-1072
Fax No.: (925)671-9437
E-Mail: [email protected]
E-Mail Loan Documents to: Lenders please contact the Escrow Officer for email address for sending loan documents.
Buyer: D.R. Horton CA2, Inc.
Owner: JASPER - LINCOLN, L.P.
Property: Lots 3-11, 30-35 & 53-55, Final Map 2024-218 Joiner Ranch, East - Phase 1
Lincoln, CA
PRELIMINARY REPORT
In response to the above referenced application for a policy of title insurance, this company hereby reports that it is prepared to issue, or cause to be issued, as of the date hereof, a Policy or Policies of Title Insurance describing the land and the estate or interest therein hereinafter set forth, insuring against loss which may be sustained by reason of any defect, lien or encumbrance not shown or referred to as an Exception below or not excluded from coverage pursuant to the printed Schedules, Conditions and Stipulations of said Policy forms.
The printed Exceptions and Exclusions from the coverage and Limitations on Covered Risks of said policy or policies are set forth in Exhibit A attached. The policy to be issued may contain an arbitration clause. When the Amount of Insurance is less than that set forth in the arbitration clause, all arbitrable matters shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. Limitations on Covered Risks applicable to the CLTA and ALTA Homeowner's Policies of Title Insurance which establish a Deductible Amount and a Maximum Dollar Limit of Liability for certain coverages are also set forth in Exhibit A. Copies of the policy forms should be read. They are available from the office which issued this report.
Please read the exceptions shown or referred to below and the exceptions and exclusions set forth in Exhibit A of this report carefully. The exceptions and exclusions are meant to provide you with notice of matters which are not covered under the terms of the title insurance policy and should be carefully considered.
It is important to note that this preliminary report is not a written representation as to the condition of title and may not list all liens, defects, and encumbrances affecting title to the land.
Please be advised that any provision contained in this document, or in a document that is attached, linked or referenced in this document, that under applicable law illegally discriminates against a class of individuals based upon personal characteristics such as race, color, religion, sex, sexual orientation, gender identity, familial status, disability, national origin, or any other legally protected class, is illegal and unenforceable by law.
549
CLTA Preliminary Report Form Order Number: 0131-627197LB01 (Rev. 11/06) Page Number: 2
First American Title
This report (and any supplements or amendments hereto) is issued solely for the purpose of facilitating the issuance of a policy of title insurance and no liability is assumed hereby. If it is desired that liability be assumed prior to the issuance of a policy of title insurance, a Binder or Commitment should be requested.
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Order Number: 0131-627197LB01
Page Number: 3
First American Title
Dated as of June 11, 2025 at 7:30 A.M.
The form of Policy of title insurance contemplated by this report is:
To Be Determined
A specific request should be made if another form or additional coverage is desired.
Title to said estate or interest at the date hereof is vested in:
JASPER - LINCOLN, L.P., A DELAWARE LIMITED PARTNERSHIP
The estate or interest in the land hereinafter described or referred to covered by this Report is:
Fee
The Land referred to herein is described as follows:
(See attached Legal Description)
At the date hereof exceptions to coverage in addition to the printed Exceptions and Exclusions in said policy form would be as follows:
1. General and special taxes and assessments for the fiscal year 2025-2026, a lien not yet due or payable.
2. General and special taxes for the fiscal year 2024-2025, are unsegregated at this time.
3. The lien of special tax assessed pursuant to Chapter 2.5 commencing with Section 53311 of the California Government Code for Community Facilities District No. 2018-1 (City Maintenance Services), as disclosed by Notice of Special Tax Lien recorded October 10, 2018 as Instrument No. 2018- 0073309 of Official Records.
The terms and provisions contained in the document entitled "Notice of Special Tax Lien (Annexation)" recorded October 09, 2024 as Instrument No. 2024-0053736 of Official Records.
4. The lien of special tax assessed pursuant to Chapter 2.5 commencing with Section 53311 of the California Government Code for Community Facilities District No. 2018-2 (Public Services), as disclosed by Notice of Special Tax Lien recorded October 10, 2018 as Instrument No. 2018-0073310 of Official Records.
The terms and provisions contained in the document entitled "Notice of Special Tax Lien (Annexation)" recorded October 09, 2024 as Instrument No. 2024-0053738 of Official Records. 551
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5. The lien of supplemental taxes, if any, assessed pursuant to Chapter 3.5 commencing with Section 75 of the California Revenue and Taxation Code.
6. The terms and provisions contained in the document recorded November 17, 1989, in Book 3762,
7. Intentionally Deleted
8. Intentionally Deleted
9. The terms and provisions contained in the document entitled "Frontage/Public Improvement Agreement" recorded August 01, 2024 as Instrument No. 2024-0040606 of Official Records.
10. An easement for nuisance and incidental purposes, recorded November 20, 2024 as Instrument No. 2024-0063252 of Official Records.
In Favor of: Sierra Pacific Industries, a California corporation Affects: as described therein
Terms and provisions contained in the above document.
11. An easement shown or dedicated on the Map as referred to in the legal description
For: public utility and incidental purposes.
12. The following matters shown or disclosed by the filed or recorded map referred to in the legal description:
The following is a dedication to the City of Lincoln for Underground Water Rights:
We hereby relinquish and waive our priority to any and all Underground Water Rights associated with the real property within all Lots as shown within this Subdivision boundary.
13. The terms and provisions contained in the document entitled "Joiner Ranch East (Phase 1) Subdivision Improvement Agreement" recorded November 20, 2024 as Instrument No. 2024-0063254 of Official Records.
13a. An option in favor of D.R. Horton CA2, Inc., a California Corporation as contained in or disclosed by a document recorded April 8, 2025 as Instrument No. 2025-0018886 of Official Records.
13b. A Deed of Trust to secure an original indebtedness of $1,888,388.00 recorded April 8, 2025 as Instrument No. 2025-0018887 of Official Records.
Dated: April 8, 2025
Trustor: Jasper - Lincoln, L.P., a delaware limited partnership Trustee: First American Title Company
Beneficiary: D.R. Horton CA2, Inc., a California Corporation
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Page Number: 5
First American Title
Affects: The land and other property.
a. If this deed of trust is to be eliminated in the policy or policies contemplated by this report/commitment, the company will require the following for review prior to the recordation of any documents or the issuance of any policy of title insurance:
i. Original note and deed of trust.
ii. Payoff demand statement signed by all present beneficiaries. iii. Request for reconveyance or substitution of trustee and full reconveyance must be signed by all present beneficiaries and must be notarized by a First American approved notary.
b. If the payoff demand statement or the request for reconveyance is to be signed by a servicer, we will also require a full copy of the loan servicing agreement executed by all present beneficiaries.
c. If any of the beneficial interest is presently held by trustees under a trust agreement, we will require a certification pursuant to Section 18100.5 of the California Probate Code in a form satisfactory to the Company.
13c. The terms and provisions contained in the document entitled "Construction License and Indemnity Agreement" recorded April 8, 2025 as Instrument No. 2025-0018888 of Official Records.
14. Water rights, claims or title to water, whether or not shown by the Public Records.
15. Any facts, rights, interests or claims which would be disclosed by a correct ALTA/NSPS survey.
16. Rights of parties in possession.
Prior to the issuance of any policy of title insurance, the Company will require:
17. Intentionally Deleted
17a. With respect to JASPER - LINCOLN, L.P., a Delaware limited partnership:
a. That a certified copy of the application for registration, foreign limited partnership (form LP-5) and any amendments thereto (form LP-6) be recorded in the public records; b. A full copy of the partnership agreement and any amendments; c. Satisfactory evidence of the consent of a majority in interest of the limited partners to the contemplated transaction;
d. Other requirements which the Company may impose following its review of the material required herein and other information which the Company may require.
18. An ALTA/NSPS survey of recent date which complies with the current minimum standard detail requirements for ALTA/NSPS land title surveys.
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Page Number: 6
First American Title
INFORMATIONAL NOTES
Note: The policy to be issued may contain an arbitration clause. When the Amount of Insurance is less than the certain dollar amount set forth in any applicable arbitration clause, all arbitrable matters shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. If you desire to review the terms of the policy, including any arbitration clause that may be included, contact the office that issued this Commitment or Report to obtain a sample of the policy jacket for the policy that is to be issued in connection with your transaction.
1. General and special taxes and assessments for the fiscal year 2024-2025.
First Installment: $10,105.04, PAID
Penalty: $0.00
Second Installment: $10,105.04, PAID
Penalty: $0.00
Tax Rate Area: 003006
A. P. No.: 021-310-075-000
(Affects Portion of land and other property)
2. General and special taxes and assessments for the fiscal year 2024-2025.
First Installment: $54,397.22, PAID
Penalty: $0.00
Second Installment: $54,397.22, PAID
Penalty: $0.00
Tax Rate Area: 003002
A. P. No.: 021-310-077-000
(Affects Portion of land and other property)
3. Supplemental taxes for the year 2023-2024 assessed pursuant to Chapter 3.5 commencing with Section 75 of the California Revenue and Taxation Code.
First Installment: $9,251.90, PAID
Penalty: $0.00
Second Installment: $8,410.82, PAID
Penalty: $0.00
Tax Rate Area: 003006
A. P. No.: 021-310-075-000
(Affects Portion of land and other property)
4. Supplemental taxes for the year 2023-2024 assessed pursuant to Chapter 3.5 commencing with Section 75 of the California Revenue and Taxation Code.
First Installment: $45,236.58, PAID
Penalty: $0.00
Second Installment: $45,236.58, PAID
Penalty: $0.00
Tax Rate Area: 003002
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Page Number: 7
First American Title
A. P. No.: 021-310-077-000
(Affects Portion of land and other property)
5. The property covered by this report is vacant land.
6. According to the public records, there has been no conveyance of the land within a period of twenty four months prior to the date of this report, except as follows:
A document recorded August 30, 2023 as INSTRUMENT NO. 2023-0046395 of Official Records.
From: JAMES S. JOINER, AS SUCCESSOR TRUSTEE OF THE KATHLEEN JOINER SWIFT IRREVOCABLE TRUST DATED DECEMBER 28, 2012
To: JOINER LIMITED PARTNERSHIP, A CALIFORNIA LIMITED PARTNERSHIP
A document recorded August 30, 2023 as INSTRUMENT NO. 2023-0046396 of Official Records.
From: JAMES S. JOINER, AS SUCCESSOR TRUSTEE OF SIERRA TRUST DATED MAY 2, 1977
To: THE JOINER LIMITED PARTNERSHIP, A CALIFORNIA LIMITED
PARTNERSHIP
A document recorded August 30, 2023 as INSTRUMENT NO. 2023-0046397 of Official Records.
From: JAMES S. JOINER, AS SUCCESSOR TRUSTEE OF THE RICHARD JOINER IRREVOCABLE TRUST DATED DECEMBER 28, 2012
To: JOINER LIMITED PARTNERSHIP, A CALIFORNIA LIMITED PARTNERSHIP
A document recorded August 30, 2023 as INSTRUMENT NO. 2023-0046398 of Official Records.
From: JAMES S. JOINER, AS SUCCESSOR TRUSTEE OF THE PAUL JOINER IRREVOCABLE TRUST DATED DECEMBER 28, 2012
To: JOINER LIMITED PARTNERSHIP, A CALIFORNIA LIMITED PARTNERSHIP
A document recorded August 30, 2023 as INSTRUMENT NO. 2023-0046399 of Official Records.
From: JAMES S. JOINER, AS SUCCESSOR TRUSTEE OF THE JAMES S. JOINER IRREVOCABLE TRUST DATED DECEMBER 28, 2012
To: JOINER LIMITED PARTNERSHIP, A CALIFORNIA LIMITED PARTNERSHIP
A document recorded August 30, 2023 as INSTRUMENT NO. 2023-0046400 of Official Records.
From: JOINER LIMITED PARTNERSHIP, A CALIFORNIA LIMITED PARTNERSHIP To: JEN CALIFORNIA 24, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY
A document recorded April 8, 2025 as INSTRUMENT NO. 2025-0018885-00 of Official Records.
From: JEN CALIFORNIA 24, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY To: JASPER - LINCOLN, L.P., A DELAWARE LIMITED PARTNERSHIP
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Order Number: 0131-627197LB01
Page Number: 8
First American Title
The map attached, if any, may or may not be a survey of the land depicted hereon. First American expressly disclaims any liability for loss or damage which may result from reliance on this map except to the extent coverage for such loss or damage is expressly provided by the terms and provisions of the title insurance policy, if any, to which this map is attached.
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Order Number: 0131-627197LB01
Page Number: 9
First American Title
LEGAL DESCRIPTION
Real property in the City of Lincoln, County of Placer, State of California, described as follows:
Lots 3 through 11, inclusive, Lots 30 through 35, inclusive, Lots 53 through 55, inclusive, as shown on the map entitled “FINAL MAP NO. 2024-218", JOINER RANCH EAST - PHASE 1, filed for record on November 20, 2024 in Book GG of Maps, at Page 99, Placer County Records.
APN: Portions of 021-310-075-000 and 021-310-077-000 (Underlying APN's); Portion of 021-310-102-000 (New Underlying APN, not yet assessed);
New APN's, Not Yet Assessed as follows:
009-410-003-000 through 009-410-011-000 (Lots 3 through 11) 009-410-030-000 through 009-410-035-000 (Lots 30 through 35) 009-410-053-000 through 009-410-055-000 (Lots 53 through 55)
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Page Number: 10
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Page Number: 11
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NOTICE
Section 12413.1 of the California Insurance Code, effective January 1, 1990, requires that any title insurance company, underwritten title company, or controlled escrow company handling funds in an escrow or sub- escrow capacity, wait a specified number of days after depositing funds, before recording any documents in connection with the transaction or disbursing funds. This statute allows for funds deposited by wire transfer to be disbursed the same day as deposit. In the case of cashier's checks or certified checks, funds may be disbursed the next day after deposit. In order to avoid unnecessary delays of three to seven days, or more, please use wire transfer, cashier's checks, or certified checks whenever possible.
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Page Number: 12
First American Title
EXHIBIT A
LIST OF PRINTED EXCEPTIONS AND EXCLUSIONS (BY POLICY TYPE) CLTA/ALTA HOMEOWNER'S POLICY OF TITLE INSURANCE [(07-01-2021) v. 01.00]
EXCLUSIONS FROM COVERAGE
The following matters are excluded from the coverage of this policy and We will not pay loss or damage, costs, attorneys' fees, or expenses that arise by reason of:
1. a. any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) that restricts, regulates, prohibits, or relates to:
i. the occupancy, use, or enjoyment of the Land;
ii. the character, dimensions, or location of any improvement on the Land; iii. the subdivision of land; or
iv. environmental remediation or protection.
b. any governmental forfeiture, police, or regulatory, or national security power. c. the effect of a violation or enforcement of any matter excluded under Exclusion 1.a. or 1.b.
Exclusion 1 does not modify or limit the coverage provided under Covered Risk 8.a., 14, 15, 16, 18, 19, 20, 23, or 27.
2. Any power to take the Land by condemnation. Exclusion 2 does not modify or limit the coverage provided under Covered Risk 17.
3. Any defect, lien, encumbrance, adverse claim, or other matter:
a. created, suffered, assumed, or agreed to by You;
b. not Known to Us, not recorded in the Public Records at the Date of Policy, but Known to You and not disclosed in writing to Us by You prior to the date You became an Insured under this policy; c. resulting in no loss or damage to You;
d. attaching or created subsequent to the Date of Policy (Exclusion 3.d. does not modify or limit the coverage provided under Covered Risk 5, 8.f., 25, 26, 27, 28, or 32); or
e. resulting in loss or damage that would not have been sustained if You paid consideration sufficient to qualify You as a bona fide purchaser of the Title at the Date of Policy.
4. Lack of a right:
a. to any land outside the area specifically described and referred to in Item 3 of Schedule A; and b. in any street, road, avenue, alley, lane, right-of-way, body of water, or waterway that abut the Land.
Exclusion 4 does not modify or limit the coverage provided under Covered Risk 11 or 21.
5. The failure of Your existing structures, or any portion of Your existing structures, to have been constructed before, on, or after the Date of Policy in accordance with applicable building codes. Exclusion 5 does not modify or limit the coverage provided under Covered Risk 14 or 15.
6. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors’ rights law, that the transfer of the Title to You is a:
a. fraudulent conveyance or fraudulent transfer;
b. voidable transfer under the Uniform Voidable Transactions Act; or c. preferential transfer:
i. to the extent the instrument of transfer vesting the Title as shown in Schedule A is not a transfer made as a contemporaneous exchange for new value; or
ii. for any other reason not stated in Covered Risk 30.
7. Contamination, explosion, fire, flooding, vibration, fracturing, earthquake, or subsidence.
8. Negligence by a person or an entity exercising a right to extract or develop oil, gas, minerals, groundwater, or any other subsurface substance.
9. Any lien on Your Title for real estate taxes or assessments imposed or collected by a governmental authority that becomes due and payable after the Date of Policy. Exclusion 9 does not modify or limit the coverage provided under Covered Risk 8.a. or 27.
10. Any discrepancy in the quantity of the area, square footage, or acreage of the Land or of any improvement to the Land.
LIMITATIONS ON COVERED RISKS
Your insurance for the following Covered Risks is limited on the Owner’s Coverage Statement as follows:
For Covered Risk 16, 18, 19, and 21 Your Deductible Amount and Our Maximum Dollar Limit of Liability shown in Schedule A.
The deductible amounts and maximum dollar limits shown on Schedule A are as follows:
Your Deductible Amount Our Maximum Dollar Limit of Liability
Covered Risk 16: 1% of Policy Amount Shown in Schedule A or $2,500 $10,000 (whichever is less)
Covered Risk 18: 1% of Policy Amount Shown in Schedule A or $5,000 $25,000 (whichever is less)
Covered Risk 19: 1% of Policy Amount Shown on Schedule A or $5,000 $25,000 (whichever is less)
Covered Risk 21: 1% of Policy Amount Shown on Schedule A or $2,500 $5,000 (whichever is less)
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Page Number: 13
First American Title
ALTA OWNER'S POLICY [(07-01-2021) V. 01.00]
CLTA STANDARD COVERAGE OWNER'S POLICY [(02-04-22) V. 01.00]
EXCLUSIONS FROM COVERAGE
The following matters are excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys’ fees, or expenses that arise by reason of:
1. a. any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) that restricts, regulates, prohibits, or relates to:
i. the occupancy, use, or enjoyment of the Land;
ii. the character, dimensions, or location of any improvement on the Land; iii. the subdivision of land; or
iv. environmental remediation or protection.
b. any governmental forfeiture, police, regulatory, or national security power. c. the effect of a violation or enforcement of any matter excluded under Exclusion 1.a. or 1.b.
Exclusion 1 does not modify or limit the coverage provided under Covered Risk 5 or 6.
2. Any power of eminent domain. Exclusion 2 does not modify or limit the coverage provided under Covered Risk 7.
3. Any defect, lien, encumbrance, adverse claim, or other matter:
a. created, suffered, assumed, or agreed to by the Insured Claimant; b. not Known to the Company, not recorded in the Public Records at the Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy;
c. resulting in no loss or damage to the Insured Claimant; d. attaching or created subsequent to the Date of Policy (Exclusion 3.d. does not modify or limit the coverage provided under Covered Risk 9 or 10); or
e. resulting in loss or damage that would not have been sustained if consideration sufficient to qualify the Insured named in Schedule A as a bona fide purchaser had been given for the Title at the Date of Policy.
4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors’ rights law, that the transaction vesting the Title as shown in Schedule A is a:
a. fraudulent conveyance or fraudulent transfer;
b. voidable transfer under the Uniform Voidable Transactions Act; or c. preferential transfer:
i. to the extent the instrument of transfer vesting the Title as shown in Schedule A is not a transfer made as a contemporaneous exchange for new value; or
ii. for any other reason not stated in Covered Risk 9.b.
5. Any claim of a PACA-PSA Trust. Exclusion 5 does not modify or limit the coverage provided under Covered Risk 8.
6. Any lien on the Title for real estate taxes or assessments imposed or collected by a governmental authority that becomes due and payable after the Date of Policy. Exclusion 6 does not modify or limit the coverage provided under Covered Risk 2.b.
7. Any discrepancy in the quantity of the area, square footage, or acreage of the Land or of any improvement to the Land.
NOTE: The 2021 ALTA Owner’s Policy may be issued to afford either Standard Coverage or Extended Coverage. In addition to variable exceptions such as taxes, easements, CC&R’s, etc., the Exceptions from Coverage in a Standard Coverage policy will also include the Western Regional Standard Coverage Exceptions listed below as numbers 1 through 7. The 2021 CLTA Standard Coverage Owner’s Policy will include the Western Regional Standard Coverage Exceptions listed below as numbers 1 through 7.
EXCEPTIONS FROM COVERAGE
Some historical land records contain Discriminatory Covenants that are illegal and unenforceable by law. This policy treats any Discriminatory Covenant in a document referenced in Schedule B as if each Discriminatory Covenant is redacted, repudiated, removed, and not republished or recirculated. Only the remaining provisions of the document are excepted from coverage.
This policy does not insure against loss or damage and the Company will not pay costs, attorneys’ fees, or expenses resulting from the terms and conditions of any lease or easement identified in Schedule A, and the following matters:
1. (a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public Records.
2. Any facts, rights, interests, or claims that are not shown by the Public Records but that could be ascertained by an inspection of the Land or that may be asserted by persons in possession of the Land.
3. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records.
4. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and not shown by the Public Records.
5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by the Public Records.
6. Any lien or right to a lien for services, labor or material unless such lien is shown by the Public Records at Date of Policy.
7. Any claim to (a) ownership of or rights to minerals and similar substances, including but not limited to ores, metals, coal, lignite, oil, gas, 561
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uranium, clay, rock, sand, and gravel located in, on, or under the Land or produced from the Land, whether such ownership or rights arise by lease, grant, exception, conveyance, reservation, or otherwise; and (b) any rights, privileges, immunities, rights of way, and easements associated therewith or appurtenant thereto, whether or not the interests or rights excepted in (a) or (b) appear in the Public Records or are shown in Schedule B.
2006 ALTA OWNER'S POLICY (06-17-06)
EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys' fees, or expenses that arise by reason of:
1. (a) Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to
(i) the occupancy, use, or enjoyment of the Land;
(ii) the character, dimensions, or location of any improvement erected on the Land; (iii) the subdivision of land; or
(iv) environmental protection;
or the effect of any violation of these laws, ordinances, or governmental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5.
(b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 6.
2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8.
3. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed, or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy;
(c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 9 and 10); or
(e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title.
4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors’ rights laws, that the transaction vesting the Title as shown in Schedule A, is
(a) a fraudulent conveyance or fraudulent transfer; or
(b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy.
5. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A.
NOTE: The 2006 ALTA Owner’s Policy may be issued to afford either Standard Coverage or Extended Coverage. In addition to variable exceptions such as taxes, easements, CC&R’s, etc., the Exceptions from Coverage in a Standard Coverage policy will also include the Western Regional Standard Coverage Exceptions listed below as numbers 1 through 7.
EXCEPTIONS FROM COVERAGE
This policy does not insure against loss or damage, and the Company will not pay costs, attorneys’ fees or expenses, that arise by reason of:
The above policy form may be issued to afford either Standard Coverage or Extended Coverage. In addition to the above Exclusions from Coverage, the Exceptions from Coverage in a Standard Coverage policy will also include the following Exceptions from Coverage:
1. (a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public Records.
2. Any facts, rights, interests, or claims that are not shown by the Public Records at Date of Policy but that could be (a) ascertained by an inspection of the Land, or (b) asserted by persons or parties in possession of the Land.
3. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records at Date of Policy.
4. Any encroachment, encumbrance, violation, variation, easement, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and not shown by the Public Records at Date of Policy.
5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by the Public Records.
6. Any lien or right to a lien for services, labor, material or equipment unless such lien is shown by the Public Records at Date of Policy.
7. Any claim to (a) ownership of or rights to minerals and similar substances, including but not limited to ores, metals, coal, lignite, oil, gas, uranium, clay, rock, sand, and gravel located in, on, or under the Land or produced from the Land, whether such ownership or rights arise by lease, grant, exception, conveyance, reservation, or otherwise; and (b) any rights, privileges, immunities, rights of way, and easements associated therewith or appurtenant thereto, whether or not the interests or rights excepted in (a) or (b) appear in the Public Records or are shown in Schedule B.
562
Addenda
City of Lincoln CFD No. 2025-1 (Joiner Ranch East)
Addendum D
Comparable Data
563
Addenda
City of Lincoln CFD No. 2025-1 (Joiner Ranch East)
Land Sales
564
Land Sale Profile Sale No. 1
Location & Property Identification
Village 15/16 - Phase 1C
Placer One
Property Name:
Sub-Property Type: Residential, Single Family
Development Land
Sunset Blvd. Address:
Placer County, CA 95747 City/State/Zip:
Placer County:
Suburban Market Orientation:
IRR Event ID: 3360329
Sale Information
$25,746,975 Sale Price:
$25,746,975 Effective Sale Price:
05/27/2025 Sale Date:
Contract Date: 02/10/2025
Sale Status: Closed
$/Acre(Gross): $914,635
$/Land SF(Gross): $21.00
$/Building SF: $8,300.12
$128,094 /Unit $/Unit (Potential):
Grantor/Seller: Jen CA Placer Ranch, LLC
Grantee/Buyer: Taylor Morrison of California
LLC
Assets Sold: Real estate only
Property Rights: Fee Simple
% of Interest Conveyed: 100.00
Financing: Cash to seller
Conditions of Sale: Arm's-length
Document Type: Deed
Verified By: Blake Fassler
Verification Date: 05/12/2025
Verification Type: Confirmed-Seller
Sale Analysis
Expenditures After Purchase: $136,806
Expenditures Description: Site development and
permits and fees
Other Adjustment: $3,000
Adjustment Comments: Estimated bond
encumbrance
Improvement and Site Data
017-500-018 Legal/Tax/Parcel ID:
28.15 Acres(Gross):
1,226,214 Land-SF(Gross):
Potential Building SF: 3,102
No. of Units (Potential): 201
Zoning Code: SPL-PRSP
Zoning Desc.: Medium Density Residential
Source of Land Info.: Public Records
Comments
201 residential lots with a typical lot size of 3,102 square feet sold in bluetop condition for $128,094 per lot. The site development costs to bring the lots to finished condition is estimated at $64,906 per lot. Permits and fees are estimated at $71,900 per lot. We were not provided with an estimated bond encumbrance. Therefore, based on a survey of
surrounding properties, it is estimated the subject would have a bond encumbrance of $3,000 per lot. The purchase price is in addition to a Master Marketing Fee of 0.50% of the
purchase price in connection with the closing of each
individual home.
Village 15/16 - Phase 1C Placer One
565
Land Sale Profile Sale No. 2
Location & Property Identification
Freedom at Liberty Property Name:
Sub-Property Type: Residential, Single Family
Development Land
Tribute Ln. Address:
Lincoln, CA 95648 City/State/Zip:
Placer County:
Suburban Market Orientation:
IRR Event ID: 3400258
Sale Information
$14,960,000 Sale Price:
$14,960,000 Effective Sale Price:
01/22/2025 Sale Date:
Contract Date: 06/14/2024
Sale Status: Closed
$/Acre(Gross): $14,960,000
$/Land SF(Gross): $343.43
$/Building SF: $3,911.11
$170,000 /Unit $/Unit (Potential):
Grantor/Seller: Lincoln Land Holdings LLC
(Lewis Group)
Grantee/Buyer: Woodside O5N LP
Assets Sold: Real estate only
Property Rights: Fee Simple
% of Interest Conveyed: 100.00
Financing: Cash to seller
Conditions of Sale: Arm's-length
Document Type: Deed
Verified By: Blake Fassler
Verification Date: 08/26/2025
Verification Type: Confirmed-Seller
Sale Analysis
Expenditures After Purchase: $70,694
Expenditures Description: Permits and fees
Other Adjustment: $3,100
Adjustment Comments: Bond encumbrance
Improvement and Site Data
327-410-001 through -063,
327-400-001, -075
through -087
Legal/Tax/Parcel ID:
1.00 Acres(Gross):
43,560 Land-SF(Gross):
Potential Building SF:
3,825
No. of Units (Potential): 88
Zoning Code: VMDR
Zoning Desc.: Village Medium Density
Residential
Source of Land Info.: Public Records
Comments
This is a sale of 88 finished lots with a typical lot size of 3,825 square feet within Liberty at Lincoln. Permits and fees are estimated at $70,694 per lot, while special taxes are estimated at $3,100 per lot per year. The community is located
proximate to the City of Lincoln Wastewater Treatment Plant.
Freedom at Liberty
566
Land Sale Profile Sale No. 3
Location & Property Identification
Noble at Liberty Property Name:
Sub-Property Type: Residential, Single Family
Development Land
Liberty Pky. Address:
Lincoln, CA 95648 City/State/Zip:
Placer County:
Suburban Market Orientation:
IRR Event ID: 3400252
Sale Information
$9,900,000 Sale Price:
$9,900,000 Effective Sale Price:
01/17/2025 Sale Date:
Contract Date: 07/15/2024
Sale Status: Closed
$/Acre(Gross): $9,900,000
$/Land SF(Gross): $227.27
$/Building SF: $2,329.41
$165,000 /Unit $/Unit (Potential):
Grantor/Seller: Lincoln Land Holdings LLC
(Lewis Group)
Grantee/Buyer: Richmond American Homes of
Maryland Inc
Assets Sold: Real estate only
Property Rights: Fee Simple
% of Interest Conveyed: 100.00
Financing: Cash to seller
Conditions of Sale: Arm's-length
Document Type: Deed
Verified By: Blake Fassler
Verification Date: 08/26/2025
Verification Type: Confirmed-Seller
Sale Analysis
Expenditures After Purchase: $69,708
Expenditures Description: Permits and fees
Other Adjustment: $3,350
Adjustment Comments: Bond encumbrance
Improvement and Site Data
327-390-001 Legal/Tax/Parcel ID:
1.00 Acres(Gross):
43,560 Land-SF(Gross):
Potential Building SF: 4,250
No. of Units (Potential): 60
Zoning Code: VMDR
Zoning Desc.: Village Medium Density
Residential
Source of Land Info.: Public Records
Comments
This is the first phase of the transaction of 60 finished lots with a typica lot size of 4,250 at Liberty at Lincoln. The second phase consists of nine lots and will transfer upon completion of dry-utility improvements and final map recordation.
Permits and fees are estimated at $69,708 per lot, while special taxes are estimated at $3,350 per lot per year. The community is located proximate to the City of Lincoln
Wastewater Treatment Plant.
Noble at Liberty
567
Land Sale Profile Sale No. 4
Location & Property Identification
Placer One - Village 14 Property Name:
Sub-Property Type: Residential, Single Family
Development Land
Sunset Blvd. Address:
Placer County, CA 95747 City/State/Zip:
Placer County:
Suburban Market Orientation:
IRR Event ID: 3412990
Sale Information
$11,700,000 Sale Price:
$11,700,000 Effective Sale Price:
01/03/2025 Sale Date:
Contract Date: 05/22/2024
Sale Status: Closed
$/Acre(Gross): $503,442
$/Land SF(Gross): $11.56
$/Building SF: $3,594.47
$75,000 /Unit $/Unit (Potential):
Grantor/Seller: JEN CA Placer Ranch, LLC
Grantee/Buyer: KB Homes of Sacramento Inc.
Assets Sold: Real estate only
Property Rights: Fee Simple
% of Interest Conveyed: 100.00
Financing: Cash to seller
Conditions of Sale: Arm's-length
Document Type: Deed
Verified By: Blake Fassler
Verification Date: 09/29/2025
Verification Type: Confirmed-Buyer
Sale Analysis
Expenditures After Purchase: $182,594
Expenditures Description: Site development costs
and permits and fees
Other Adjustment: $2,671
Adjustment Comments: Bond encumbrance
Improvement and Site Data
017-500-016 and -017 Legal/Tax/Parcel ID:
23.24 Acres(Gross):
1,012,334 Land-SF(Gross):
Potential Building SF: 3,255
No. of Units (Potential): 156
Zoning Code: SPL-PRSP
Zoning Desc.: Placer Ranch Specific Plan
Source of Land Info.: Public Records
Comments
156 alley-loaded residential lots with a typical lot size of 3,255 square feet sold in bluetop condition for $75,000 per lot. The site development costs to bring the lots to finished condition is estimated at $100,894 per lot. Permits and fees are
estimated at $81,700 per lot. Special taxes are estimated at $2,671 per lot. The purchase price is in addition to a Master Marketing Fee of 0.50% of the purchase price in connection with the closing of each individual home.
Placer One - Village 14
568
Land Sale Profile Sale No. 5
Location & Property Identification
Legacy at Liberty Property Name:
Sub-Property Type: Residential, Single Family
Development Land
Liberty Pky. Address:
Lincoln, CA 95648 City/State/Zip:
Placer County:
Suburban Market Orientation:
IRR Event ID: 3399667
Sale Information
$15,750,000 Sale Price:
$15,750,000 Effective Sale Price:
12/04/2024 Sale Date:
Contract Date: 08/28/2024
Sale Status: Closed
$/Acre(Gross): $15,750,000
$/Land SF(Gross): $361.57
$/Building SF: $3,579.55
$164,063 /Unit $/Unit (Potential):
Grantor/Seller: Lincoln Land Holdings LLC
(Lewis Group)
Grantee/Buyer: Meritage Homes of California,
Inc.
Assets Sold: Real estate only
Property Rights: Fee Simple
% of Interest Conveyed: 100.00
Financing: Cash to seller
Conditions of Sale: Arm's-length
Document Type: Deed
Verified By: Blake Fassler
Verification Date: 08/25/2025
Verification Type: Confirmed-Seller
Sale Analysis
Expenditures After Purchase: $72,326
Expenditures Description: Permits and fees
Other Adjustment: $3,400
Adjustment Comments: Bond encumbrance
Improvement and Site Data
327-380-008 and -009 Legal/Tax/Parcel ID:
1.00 Acres(Gross):
43,560 Land-SF(Gross):
Potential Building SF: 4,400
No. of Units (Potential): 96
Zoning Code: VLDR
Zoning Desc.: Village Low Density
Residential
Source of Land Info.: Public Records
Comments
This is a sale of 96 finished lots with a typical lot size of 4,400 square feet within Liberty at Lincoln. Permits and fees are estimated at $72,326 per lot, while special taxes are estimated at $3,400 per lot per year. The community is located
proximate to the City of Lincoln Wastewater Treatment Plant.
Legacy at Liberty
569
Land Sale Profile Sale No. 6
Location & Property Identification
Winding Creek - Villages C-6 &
C-8
Property Name:
Sub-Property Type: Residential, Single Family
Development Land
E/O Westbrook Blvd., N/O
Blue Oaks Blvd.
Address:
Roseville, CA 95747 City/State/Zip:
Placer County:
Suburban Market Orientation:
IRR Event ID: 3315170
Sale Information
$15,280,000 Sale Price:
$15,280,000 Effective Sale Price:
11/04/2024 Sale Date:
Contract Date: 07/16/2024
Sale Status: Closed
$/Acre(Gross): $1,115,328
$/Land SF(Gross): $25.60
$/Building SF: $3,772.84
$191,000 /Approved Lot $/Unit (Potential):
Grantor/Seller: Anthem United Creekview
Development, LP.
Grantee/Buyer: Beazer Home Holdings, LLC.
Portfolio Sale: No
Assets Sold: Real estate only
Property Rights: Fee Simple
% of Interest Conveyed: 100.00
Financing: Cash to seller
Conditions of Sale: Arm's-length
Document Type: Deed
Recording No.: 2024.61804
Verified By: Kari Tatton
Verification Date: 01/09/2025
Confirmation Source: Purchase Agreement/Public
Records
Verification Type: Confirmed-Seller
Sale Analysis
Expenditures After Purchase: $92,423
Expenditures Description: Permits & Fees
Other Adjustment: $3,237
Adjustment Comments: Special taxes
Sale Price Includes FF&E? No
Improvement and Site Data
MSA: Sacramento--Roseville--Arden
-Arcade, CA
496-620-001, -003 Legal/Tax/Parcel ID:
13.70 Acres(Gross):
596,772 Land-SF(Gross):
Potential Building SF: 4,050
No. of Units (Potential): 80
Shape: Irregular
Topography: Level
Corner Lot: No
Zoning Code: RS/DS
Zoning Desc.: Small lot residential
No Easements:
Environmental Issues: No
Flood Zone Designation: X (Shaded)
Winding Creek - Villages C-6 & C-8
570
Land Sale Profile Sale No. 6
Improvement and Site Data (Cont'd)
Source of Land Info.: Past Appraisal
Comments
This comparable represents the sale of 80 finished lots with a typical lot size of 4,050 square feet. Permits & fees average $92,423 per lot and annual special assessments are $3,237 per lot. The purchase price is in addition to a Master Marketing Fee of 0.75% of HUD Purchase Price which is to be paid in connection with each home closing.
Winding Creek - Villages C-6 & C-8
571
Land Sale Profile Sale No. 7
Location & Property Identification
Placer One - Villages 8
through 11
Property Name:
Sub-Property Type: Residential, Single Family
Development Land
Momentum Dr. Address:
Placer County, CA 95747 City/State/Zip:
Placer County:
Suburban Market Orientation:
IRR Event ID: 3399197
Sale Information
$23,591,500 Sale Price:
$23,591,500 Effective Sale Price:
09/17/2024 Sale Date:
Contract Date: 01/24/2024
Sale Status: Closed
$/Acre(Gross): $502,910
$/Land SF(Gross): $11.55
$/Building SF: $4,578.21
$93,247 /Unit $/Unit (Potential):
Grantor/Seller: Jen CA Placer Ranch, LLC
Grantee/Buyer: KB Home Sacramento Inc.
Assets Sold: Real estate only
Property Rights: Fee Simple
% of Interest Conveyed: 100.00
Financing: Cash to seller
Conditions of Sale: Arm's-length
Document Type: Deed
Verified By: Blake Fassler
Verification Date: 08/22/2025
Verification Type: Confirmed-Seller
Sale Analysis
Expenditures After Purchase: $191,547
Expenditures Description: Site development costs
and permits and fees
Other Adjustment: $3,061
Adjustment Comments: Estimated bond
encumbrance
Improvement and Site Data
017-500-015, 017-500-007,
017-500-006, 017-500-008
Legal/Tax/Parcel ID:
46.91 Acres(Gross):
2,043,400 Land-SF(Gross):
Potential Building SF:
5,153
No. of Units (Potential): 253
Zoning Code: MDR & LDR
Zoning Desc.: Medium and Low Density
Residential
Source of Land Info.: Public Records
Comments
This is a sale of 253 bluetop lots consisting of Villages 8 through 11 in Placer One. Village 8 consists of 82 residential lots with an estimated 3,600 square foot typical lot size and have a four-pack configuration. The remaining villages have a traditional lot configuration. The remaining site development costs were estimated at $105,347 per lot, while permits and fees are estimated at $86,200 per lot. Based on other projects in the area, the special taxes
Placer One - Villages 8 through 11
572
Land Sale Profile Sale No. 7
Comments (Cont'd)
are estimated at $3,061 per lot. The purchase price is in addition to a Master Marketing Fee of 0.50% of the purchase price in connection with the closing of each individual home.
Placer One - Villages 8 through 11
573
Land Sale Profile Sale No. 8
Location & Property Identification
Winding Creek - Village C-20 Property Name:
Sub-Property Type: Residential, Single Family
Development Land
W/O Westbrook Blvd., N/O
Blue Oaks Blvd.
Address:
Roseville, CA 95747 City/State/Zip:
Placer County:
Suburban Market Orientation:
IRR Event ID: 3315157
Sale Information
$12,127,500 Sale Price:
$12,127,500 Effective Sale Price:
09/12/2024 Sale Date:
Contract Date: 07/08/2024
Sale Status: Closed
$/Acre(Gross): $1,393,966
$/Land SF(Gross): $32.00
$/Building SF: $4,331.25
$157,500 /Approved Lot $/Unit (Potential):
Grantor/Seller: Anthem United Creekview
Development, LP.
Grantee/Buyer: Dragonfly-Roseville LP (DR
Horton)
Portfolio Sale: No
Assets Sold: Real estate only
Property Rights: Fee Simple
% of Interest Conveyed: 100.00
Financing: Cash to seller
Conditions of Sale: Arm's-length
Document Type: Deed
Recording No.: 2024.49092
Verified By: Kari Tatton
Verification Date: 10/23/2023
Confirmation Source: Brian Moore - Anthem United
Verification Type: Confirmed-Seller
Sale Analysis
Expenditures After Purchase: $86,286
Expenditures Description: Permits & Fees
Other Adjustment: $2,547
Adjustment Comments: Annual Special
Assessments
Sale Price Includes FF&E? No
Improvement and Site Data
MSA: Sacramento--Roseville--Arden
-Arcade, CA
496-620-005 Legal/Tax/Parcel ID:
8.70 Acres(Gross):
378,972 Land-SF(Gross):
Potential Building SF: 2,800
No. of Units (Potential): 77
Shape: Irregular
Topography: Level
Corner Lot: No
Zoning Code: RS/DS
Zoning Desc.: Small lot residential
No Easements:
Environmental Issues: No
Flood Zone Designation: X (Shaded)
Winding Creek - Village C-20
574
Land Sale Profile Sale No. 8
Improvement and Site Data (Cont'd)
Source of Land Info.: Past Appraisal
Comments
This comparable represents the sale of 77 finished MDR lots with a typical lot size of 2,800 square feet (35'x80'). Permits & fees are $86,286 per lot and annual special assessments are $2,547 per lot. The purchase price is in addition to a Master Marketing Fee of 0.75% of HUD Purchase Price which is to be paid in connection with each home closing. The lots are located in RCSD/RJUHSD.
Winding Creek - Village C-20
575