Murrieta City Council
October 21, 2025

The City of Murrieta intends to comply with the Americans with Disabilities Act (ADA). Persons with special needs should call the City Clerk Department at (951) 461-6031 or email at [email protected] at least 72 hours in advance. Any writings or documents provided to a majority of the City Council regarding any item on this agenda will be made available for public inspection at the public counter at City Hall located at 1 Town Square, Murrieta, CA during normal business hours.

Any presentation requiring the use of the City of Murrieta’s equipment must be submitted to the City Clerk ’s department 72 hours prior to the scheduled City Council meeting at City Hall located at 1 Town Square, Murrieta, CA; via email at [email protected] or call (951) 461-6031. Any writings or documents provided to a majority of the City Council regarding any item on this agenda will be made available for public inspection at the public counter at City Hall located at 1 Town Square, Murrieta, CA during normal business hours.

Cindy Warren
Mayor
Jon Levell Lisa DeForest Mayor Pro Tem Council Member Lori Stone Ron Holliday Council Member Council Member Justin Clifton, City Manager
Tiffany Israel, City Attorney
Cristal McDonald, City Clerk

MURRIETA CITY COUNCIL (CC)

MURRIETA COMMUNITY SERVICES DISTRICT (CSD)

MURRIETA FIRE DISTRICT (FD)

MURRIETA LIBRARY BOARD (LB)

MURRIETA REDEVELOPMENT SUCCESSOR AGENCY (RSA)

MURRIETA HOUSING AUTHORITY (HA)

MURRIETA FINANCING AUTHORITY (FA)
YOU MAY VIEW THE MEETING LIVESTREAMED VIA THE CITY’S WEBSITE AT https://murrieta.legistar.com/Calendar.aspx

CITY OF MURRIETA
Council Chambers
1 Town Square
Murrieta, CA 92562
Tuesday, October 21, 2025
4:00 PM WORKSHOP
5:30 PM CLOSED SESSION
6:00 PM REGULAR MEETING
1 City Council Meeting Agenda October 21, 2025
4:00 PM WORKSHOP

CALL TO ORDER

ROLL CALL

WORKSHOP
WS1. Hillside Updates (DCA-2021-2396) - Workshop 4
Recommended Action:

Receive a presentation by staff, receive public comments, discuss the proposed ordinance; and
Provide direction related to policy options under the proposed ordinance framework.

RECESS
5:30 PM CLOSED SESSION

CALL TO ORDER

ROLL CALL

PUBLIC COMMENTS - CLOSED SESSION ITEMS ONLY

ANNOUNCEMENT OF CLOSED SESSION ITEMS

CLOSED SESSION
CS1. Conference with Legal Counsel - Anticipated Litigation The City Council will conduct a closed session, pursuant to Government Code section 54956.9(d)(4), because the City is considering whether to initiate litigation in 1 case.

CS2. Conference with Real Property Negotiations
The City Council will conduct a closed session, pursuant to Government Code Section 54956.8, to enable the City Council to consider negotiations and to give direction to its negotiators regarding that certain real property at the intersection of Kalmia Street and Jefferson Avenue, APNs 906-080-041, 906-080-042, and 906-080-033 with Bold Communities and Fidelis Advisors. The City's real property negotiators, the City Manager, Assistant City Manager, Development Services Director, Economic Development Director, and City Attorney, will seek direction from the City Council regarding the price and terms for this property.

RECESS TO CLOSED SESSION
6:00 PM REGULAR MEETING

2 City Council Meeting Agenda October 21, 2025

CALL TO ORDER

ANNOUNCEMENT OF CLOSED SESSION ACTION

ROLL CALL

PLEDGE OF ALLEGIANCE

INVOCATION

PRESENTATIONS
Proclamation: Retirement, Corporal Matt Mozingo

APPROVAL OF AGENDA

CITY MANAGER - ADMINISTRATIVE UPDATE
Police Department: E-Bike Social Media Campaign
Police Department/United States Postal Inspection Services: Broken Mailboxes

GOVERNING BODY COMMISSION/COMMITTEE/BOARD (CCB)

REPORTS/ANNOUNCEMENTS
Governing Body CCB Reports is the opportunity for the City Council to provide a brief report on conferences, seminars, and Commission, Committees, and /or Boards meeting attendance.

Reports shall not exceed three minutes. Governing Body Announcements is the opportunity for the City Council to provide miscellaneous reports and announcements. Announcements shall not exceed two minutes. The City Clerk will use the computerized timer.

PUBLIC COMMENTS (NON-AGENDA)
At this time any person may address the governing bodies on any subject pertaining to City business, which does not relate to any item listed on the printed agenda. Normally no action may be considered or taken by the governing bodies on any matter not listed on the agenda .

Each speaker will be limited to three minutes.

CONSENT CALENDAR - APPROVAL OF ITEMS 1 – 9
All matters listed on the Consent Calendar are to be considered routine by the governing bodies, and will be enacted by one motion in the form listed. There will be no discussion of these items unless, before the governing body votes on the motion to adopt, specific items are removed from the Consent Calendar for separate motions.

3 City Council Meeting Agenda October 21, 2025

1. Waive Reading of All Ordinance Adoptions on the Agenda and Read by Title Only Recommended Action:

Waive reading, by title only, of all Ordinances and Resolutions. Said Ordinances and Resolutions which appear on the public agenda shall be determined to have been read by title and further reading waived.

2. Minutes
Recommended Action:

Approve the October 7, 2025 Regular meeting minutes.

3. Monthly Investment Transaction Report for August 2025 Recommended Action:

Receive and file the Monthly Investment Transaction Report for August 2025.

4. Library Zip Books Grant Funding
Recommended Action:

Authorize the City Manager to accept grant funding from the California State Library for the Zip Books program for Fiscal Year 2025/26 in the amount of $14,760; and Amend the Fiscal Year 2025/26 Operating Budget to allocate the grant funds.

5. Second Amended Agreement with Architerra, Inc ., for On-Call As-Needed Landscape Services
Recommended Action:

Approve a Second Amendment to an Agreement with Architerra, Inc., increasing the annual maximum contract amount for on -call landscape services to $200,000 per fiscal year through June 30, 2027;
Amend the Fiscal Year 2025/26 and 2026/27 Operating Budget as described in the Fiscal Impact section of this report; and
Authorize the City Manager to execute the Second Amendment.

6. Community Wildfire Protection Plan Agreement
Recommended Action:

Award the Community Wildfire Protection Plan contract to DUDEK, in the amount of $125,000; Approve a 20% contingency (up to $25,000) to address unforeseen conditions or project requirements;
Authorize the Fire Chief to approve change orders not to exceed the contingency; and Authorize the City Manager to execute the agreement.

4 City Council Meeting Agenda October 21, 2025

7. Acceptance of a Grant from the Public Entity Risk Management Authority Recommended Action:

Accept a Public Entity Risk Management Authority Grant Award of $2,500; and Amend the Fiscal Year 2025/26 Operating Budget to allocate and appropriate the grant funding.

8. Collectible Work Authorization Agreement with Southern California Gas Company for the Murrieta Hot Springs Road Improvement Project, CIP No. 8079 Recommended Action:

Approve a Collectible Work Authorization Agreement with Southern California Gas Company in the amount of $157,372.10 for improvements relating to the Murrieta Hot Springs Road Improvement Project, CIP No. 8079;
Authorize a fifteen percent (15%) construction contingency of $23,605.82; and Authorize the City Manager to sign the Collectible Work Authorization Agreement.

9. Amendment to Agreement with Jacobs Engineering for Engineering Design Services for the Keller Road at I-215 Interchange Project, CIP No. 8449 Recommended Action:

Approve Amendment No. 10 to the Engineering Design Services Agreement for the Keller Road at I -215 Interchange, CIP No. 8449, with Jacobs Engineering Group, Inc., revising the scope of work and reducing the total not to exceed contract amount by $279,448; and

Authorize the Mayor to execute the Amendment on behalf of the City.

PULLED CONSENT CALENDAR ITEMS

DISCUSSION

10. Discussion Regarding the Start Time and Schedule for City Council Meeting Days Recommended Action:

Review and discuss the start time and schedule for City Council meeting days beginning with the first regular meeting in 2026; and
Direct the City Clerk to amend Resolution No. 19 -417 entitled: A Resolution of the City Council of the City of Murrieta, California, Adopting the Following Rules of Procedure for Council Meetings and Related Functions, and return for adoption by the end of the year.

OR
Take other actions the City Council considers appropriate.

RECONSIDERATION

COUNCIL MEMBER REQUESTS TO ADD ITEMS TO FUTURE AGENDAS

5 City Council Meeting Agenda October 21, 2025

ADJOURNMENT

6 CITY OF MURRIETA
City Council Meeting Agenda
Report
10/21/2025
Agenda Item No. WS1.

TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: David Chantarangsu, AICP Development Services Director PREPARED BY: Chris Tracy, AICP Senior Planner, Advanced Planning SUBJECT: ..title
Hillside Updates (DCA-2021-2396) - Workshop 4

RECOMMENDATION
Receive a presentation by staff, receive public comments, discuss the proposed ordinance; and Provide direction related to policy options under the proposed ordinance framework.

PRIOR ACTION/VOTE
On March 29, 2022, the City Council directed staff to review the hillside development standards (Non-Action Item).

On June 28, 2023, the Planning Commission recommended the introduction and first reading of an Ordinance updating the hillside development standards, amending Murrieta Municipal Code (MMC) Chapters 8.20 and

15.52, and updating portions of Title 16 (Vote 4-0-1) (Attachment 1).

On August 15, 2023, the City Council hosted a workshop on this item. The City Council requested additional information, so the workshop was continued to a future meeting date (Attachment 2).

On March 5, 2024, the City Council hosted a second workshop on this item. Due to additional time needed for the discussion and feedback, the workshop was continued for a second time (Attachment 3).

On June 17, 2025, the City Council hosted a third workshop on this item. The direction from Council was that more detailed examples were needed to assist the Council with moving forward, in particular with retaining wall criteria (Attachment 4).

CITY COUNCIL GOAL
Maintain a high performing organization that values fiscal sustainability, transparency, accountability and organizational efficiency.

BACKGROUND
The City Council directed staff at its annual priority and goal-setting workshop on March 29, 2022, to review CITY OF MURRIETA Printed on 10/16/2025Page 1 of 8
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The City Council directed staff at its annual priority and goal-setting workshop on March 29, 2022, to review the hillside development standards, as there were concerns about how they were being interpreted and implemented at the project level. The City’sexisting hillside development standards, contained in Chapter

16.24 (Hillside Development) of the Murrieta Development Code (MDC), were added in 1997 to support the City’s1994 General Plan land use goals and policies associated with the City’shillside features. The General Plan continues to contain goals and policies in hillside areas to “maintain the natural character and the environmental and aesthetic values of sloped areas.”
For details about the historical context of the hillside development standards and why these updates are being brought forward, please refer to the “BackgroundSection”as provided within Attachments 1, 2, 3, and 4. Staff is bringing forward these updates in a continued workshop format for the City Council to review the proposed standards and provide input ahead of a future public hearing.

DISCUSSION / NEXT STEPS
The primary objective of these updates is to revise the development standards to make them clearer and more precise, ensuring both applicants and staff can apply them effectively when applicable. By simplifying the language and improving accuracy, staff’sapproach aims to reduce or eliminate confusion and streamline the review process, ultimately saving time and resources for everyone involved.

In the context of the General Plan, the following statements are made that encourage good stewardship of the City’s hillside resources:

Land Use Element Goal LU15-1.1: Encourage the preservation of natural and visual resources within Los Alamos Hills, such as rock outcroppings and scenic views of the local hills and valleys, to the greatest degree practicable.

Conservation Element Goal CSV-5: Hills and ridges are protected for their environmental and aesthetic values.

Conservation Element - Policy CSV-5.1: Promote compliance with hillside development standards and guidelines to maintain the natural character and the environmental and aesthetic values of sloped areas.

Ultimately, the recommended regulations should not impose excessive burdens on property owners or project applicants. These standards must strike a balance between protecting community interests as described in the General Plan language above, and support reasonable development in hillside areas so that development is responsible and achievable.

Focus Topic - Applicability of Standards
At the June 17, 2025, City Council meeting several members of the City Council expressed interest in re- visiting the applicability of the ordinance and its potential impact on property rights. Similar comments were raised during the public comment period. Staff has designed this workshop to focus on the areas of the City where the standards should apply.

1. Identifying The City’s Hillside Areas: 20 Percent Slope Versus 25 Percent As described below the MDC indicates that any areas that have a slope of 20 percent or greater or are mapped by the Planning Division are subject to the hillside ordinance:

16.24.020 “Applicability”
“ A. Hillside Area. The standards contained in this chapter apply to uses and structures within areas that CITY OF MURRIETA Printed on 10/16/2025Page 2 of 8
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“ A. Hillside Area. The standards contained in this chapter apply to uses and structures within areas that have a slope of twenty (20) percent or greater and/or are designated on the significant features map on file with the department.”
As currently written in the MDC, the Hillside Area criteria apply to all areas of the City that are 20 Percent or greater and/or are designated on the significant features map on file with the department.

Pros
· If the objective is to maximize hillside preservation across the City, this approach is advantageous, as it includes a larger number of properties for analysis and establishes a broader baseline for potential area preservation.
· Including more properties helps maintain the scenic quality and natural aesthetics of hillside neighborhoods.
· A larger number of properties provides a stronger foundation for evaluating trade-offs and prioritizing areas for conservation versus development.

Cons
· The definition references a map that doesn’texist, and requires parcel-by-parcel analysis as property owners submit applications. Further, staff does not have the tools to measure slopes independently. · Elsewhere in the MDC, a conflicting 25 percent baseline for a Hillside Area/Condition is referenced, creating confusion and inconsistency with how the definition is currently framed. · The City does not presently have a codified hillside slope map or significant features map. · Subjecting a larger number of properties to the hillside requirements means additional costs, more data collection, technical reports, and review, which can be time-consuming for property owners and staff to prepare and review.
· Properties that might otherwise be buildable as a non-hillside property could face restrictions, such as unusable lot area.
· Reviewing and enforcing hillside criteria across a wider set of properties increases permitting delays. · More extensive technical and environmental review may extend timelines for development approvals.

2. 25 Percent Slope Criteria
The following language specifies a 25% Slope Criteria in the Development Code:
a. MDC Section 16.24.020(D). The development standards, guidelines and provisions of this chapter shall be applied to those portions of land with a predominance of significant natural slopes exceeding twenty-five (25) percent and areas that are integrally contiguous, or slopes determined as significant by the director. The provisions of this chapter shall apply to projects relating to subdivisions, permits, uses, structures, specific plans, master development plans, and associated site plans for development review except as specifically exempted by Section 16.02.020 <https://codelibrary.amlegal.com/codes/murrieta/latest/murrieta_ca/0-0-0-24072>.” b. MDC Section 16.24.040(D) Slope Analysis Map. A slope analysis map for the purpose of determining the amount and location of land as it exists in its natural state and for calculating average slope categories. A base topographical map of the site shall be prepared and shall have a scale of not less than one inch to two hundred (200) feet. The base topographical map shall include adjoining properties within one hundred (100) feet of the site boundaries to portray the site's context. Slope bands in contrasting colors shall be delineated in the range of zero to twenty-five (0-25) percent, twenty-six to fifty (26-50) percent, and fifty (50) percent or greater. A tabulation of the land area by slope percentage shall also be provided.

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The exact method for computing the percent slope and area of each slope category shall be sufficiently described and presented so that a review can be readily made. A heavy solid line indicating the twenty-five (25) percent grade differential shall be clearly marked on the plan. An eight and one-half by eleven (8 1/2 x 11) inch legible acetate reduction of the slope analysis with appropriate legend shall also be provided.
c. MDC Section 16.24.060(A) identifies slopes up to 25 percent as a non-hillside condition and slopes between 25 and 50 percent as a hillside condition.
d. MDC Chapter 16.110 - Hillside. Land with an average rise or fall of twenty-five (25) percent or greater or a vertical rise of thirty (30) feet or more. e. MDC Chapter 16.110 - Slope, Significant Natural. A slope that is not man-made that exceeds twenty-five (25) percent and a vertical rise of thirty (30) feet or more.

As noted above, an area qualifies as a “Hillside Area” if it meets or exceeds a 25 percent slope threshold, which determines its classification as a hillside condition. This 25 percent threshold is referenced five times in MDC Chapter 16.24 in relation to the application criteria that define a hillside condition.

Prior Direction
· During the 2022 City Priorities Workshop, staff received direction that the 25 percent criteria should apply versus the other described criteria in the MDC, and only to designated hillside areas depicted on a non-codified map.
· It was explained to staff by the Mayor and Council at the time of the Workshop it was never intended to apply on a citywide basis. However, the original ordinance’sadministrative record contains no information. The lack of a clear standard has led to unequal application of the hillside standards. · A potential recommendation to clarify the conflicting language would be to revise the definition in Section 16.24.020 and adopt the map (Attachment 5) within the Municipal Code to depict the areas to which the Hillside Overlay applies (Attachments 6 through 17 for detailed discussion).

Pros
· It has been noted five times as a baseline numeric percentage across Chapter 16.24 in comparison to the lone 20 percent association.
· A number of properties will remain for analysis under this condition for potential areas of hillside preservation/grading techniques as a baseline condition. · Implementation of the 25 percent threshold still helps the City meet the City’sGeneral Plan Goals and Objectives as relates to the preservation of hillside areas. · This has been a main area of confusion versus the 20 percent/citywide thresholds. · There could still be some cost for homeowners/project applicants versus having no standard. · Adoption of a hillside map would resolve questions concerning the applicability of the hillside standards to a property
· By clearly defining and mapping the specific areas of where it applies, the result will be reducing potential confusion, streamlining the review process, and minimizing costs and delays for homeowners and project applicants.

Cons
· Adoption of a proposed hillside map utilizes a less precise methodology for measuring slope than the CITY OF MURRIETA Printed on 10/16/2025Page 4 of 8
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City’s current average slope formula, but still provides an effective tool for identifying hillside properties. · If the hillside standards remain in effect citywide, and not to focused areas of the City, all projects would require slope analysis, which would increase costs on non-hillside development projects.

Key Policy Questions to Resolve Concerning Slope
Based on the background information from the MDC above, how should hillside slopes be defined and applied?
Should the hillside slope definition apply on a Citywide basis, or only to areas specified by an adopted hillside map?
Is there agreement that the 20 percent threshold for a hillside area seems to be an anomaly whereas the 25 percent criteria is more consistently referenced as criteria?

3. Specific Plans
At a previous workshop, a speaker suggested identifying the City’sSpecific Plans in relation to the Hillside Area Overlay (Attachment 5). This could mean making properties within Specific Plans subject to the Hillside Ordinance. Alternatively, it could mean identifying Specific Plans on the Hillside Map in order to make clear that those areas are not subject to the Hillside Ordinance because hillside standard were addressed as part of the Specific Plan.

Pros
· Including Specific Plans within the Hillside Area Overlay, can provide further clarity on what standards apply.

Cons
· There might still be some confusion about what standards would apply at times. · Making Specific Plan areas subject to the Hillside Ordinance risks overturning that were previously made within the context of a specific development area.

Recommendation
Staff agrees that mapping these Specific Plans alongside the overlay area would be the most effective approach for cross-referencing. To support this, staff recommends including a note in the draft ordinance directing users to consult the applicable Specific Plan for hillside development criteria. Staff recommends that Specific Plans are not subject to the Hillside Ordinance because hillside standards were already addressed during the Specific Plan process.

Key Policy Question To Resolve Concerning Specific Plans Does the Council concur with the proposed approach to incorporate Specific Plans into the Hillside Overlay Exhibit Map, along with the corresponding cross-referencing framework? Does Council concur that Specific Plans would supersede the general Hillside Ordinance if and when there are conflicting standards for Hillside Development?

4. Use Of Geographic Info. Systems (GIS) And Average Slope Formula Geographic Information Systems (GIS)
GIS analyzes slope by using ground elevation data (such as Digital Elevation Models (DEMs)) to calculate slope at random points. It compares elevation changes across grid cells to create a slope map, showing steepness as a percentage. GIS enables rapid and visual slope analysis; however, its accuracy relies on the CITY OF MURRIETA Printed on 10/16/2025Page 5 of 8
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steepness as a percentage. GIS enables rapid and visual slope analysis; however, its accuracy relies on the quality of elevation data.

Pros
· It provides efficiency in that large areas can be analyzed quickly. · It provides objectivity in that it reduces subjective or manual slope calculations. · It combines easily with other spatial data (e.g., soils, vegetation, zoning). · It provides greater precision when evaluating a subject site, especially with the sourcing of high- resolution data that is available from software vendors in the GIS industry. · City staff widely use GIS on a daily basis.

Cons
· Slope algorithms vary slightly between software platforms, which may produce different results for the same dataset.
· Interpolation errors may arise when converting contour data into GIS data, resulting in slope distortions.
· Parcel boundaries rarely align perfectly with raster grids, which can introduce data distortions at the edge of a parcel.
· Small or narrow parcels may contain too few raster cells to allow for meaningful slope analysis, particularly at coarser resolutions.
· A property that might be just over the threshold of being subject to the hillside standard would lose the benefit of the more precise average slope formula that potentially places the property’sslope under the threshold.

Alternative Option - Average Slope Formula in conjunction with the use of AutoCAD MDC Chapter 16.24 currently has an Average Slope Formula for determining the slope at a subject property. It is a commonly used method across municipalities (local examples include the Cities of Riverside, Menifee, and Calimesa, and Riverside County) to quantify the overall steepness of a parcel of land. This measurement is critical for determining land suitability for development, enforcing hillside regulations, and managing environmental impacts.

The average slope formula is defined as follows:

16.24.030 “Definitions”
Pros
· It provides a simple and easy-to-calculate method using basic elevation and distance data. · It provides a clear, single metric for comparing terrain steepness, especially if there is disagreement CITY OF MURRIETA Printed on 10/16/2025Page 6 of 8
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· It provides a clear, single metric for comparing terrain steepness, especially if there is disagreement with the outcomes from a GIS analysis.
· Can be efficient for early planning, screening, or regulatory classification of sloped areas, · AutoCAD and similar drafting programs are widely available and used by engineers and architects.

Cons
· Requires survey data from a process that may oversimplify terrain by masking local variations or steep sections.
· May not accurately represent irregular or complex topography. · The results can vary depending on data resolution or calculation method.

Recommendation
As proposed, the use of Geographic Information Systems (GIS) mapping data is proposed to replace the traditional average slope calculation methodology. As presently proposed, in the event that there is a discrepancy or a dispute with how this information is documented, the City Engineer may permit an alternative method for demonstrating this information, such as a CAD-based program with the utilization of the Average Slope Formula.

Key Policy Question To Resolve Concerning Average Slope Is there concurrence to use a City, GIS-generated slope map to replace the average slope formula approach, but allowing it to remain as an alternative?
Conclusion
In conclusion, by revisiting the original intent of these updates and carefully evaluating the best path forward, staff remains committed to developing clear, balanced, and practical standards for a future draft ordinance.

These refinements are intended to support responsible hillside development that aligns with the City’sGeneral Plan Goals and Policies, reflects community input, and facilitates a more efficient and transparent review process for all stakeholders.

The primary focus remains on revising development standards to make them clearer, more precise, and easier to apply at the project level for homeowners, project applicants, and staff. Simplifying the language and enhancing accuracy will help reduce confusion and streamline the review process, ultimately saving time and resources for homeowners and project applicants. These improvements are designed to create a more transparent and efficient system that benefits everyone involved.

At the same time, staff recognize the importance of recommending regulations that avoid placing undue burdens on homeowners and project applicants. The standards must strike a careful balance between protecting hillside areas while still enabling reasonable, achievable hillside development. This result would foster a responsible approach to the updates for responsible growth that respects existing environmental conditions while supporting the community’s long-term vision to manage development in hillside areas.

Once the Key Policy Questions pertaining to ordinance applicability are resolved, the next workshop will concentrate on an in-depth review of standards related to hillside development, such as retaining walls and landscaping requirements. It will also cover any outstanding issues that need further discussion or evaluation to ensure all matters are fully addressed prior to returning with an ordinance for adoption.

FISCAL IMPACT
None.

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ATTACHMENTS

1. Planning Commission Ordinance Introduction Staff Report, June 28, 2023

2. City Council Workshop 1 Staff Report, August 15, 2023

3. City Council Workshop 2 Staff Report, March 5, 2024

4. City Council Workshop 3 Staff Report, June 17, 2025

5. Citywide - Hillside Overlay Map Exhibit - With Specific Plans

6. Focused 1 - Hillside - Los Alamos Hills Area 1

7. Focused 2 - Hillside - Los Alamos Hills Area 2

8. Focused 3 - Hillside - Los Alamos Hills Area 3

9. Focused 4 - Hillside - Greer Ranch Area 1

10. Focused 5 - Hillside - Greer Ranch Area 2

11. Focused 6 - Hillside - Greer Ranch Area 3

12. Focused 7 - Hillside - Greer Ranch Area 4

13. Focused 8 - Hillside - Murrieta Hills Area 1

14. Focused 9 - Hillside - Murrieta Hills Area 2

15. Focused 10 - Hillside - Bear Creek Area

16. Focused 11 - Hillside - Copper Canyon

17. Focused 12 - Hillside - Westside

18. Draft Ordinance - Title 16 - Strikeout-Underline

19. Correspondence - Prior to Workshop 3
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Final Action
☒ City Council
☐ Planning Commission
Subject: Hillside Updates (DCA-2021-2396) to amend Chapters 8.20 and

15.52 of the Murrieta Municipal Code, and to amend the Murrieta Development Code (Title 16) for the purpose of revising and updating Chapters 16.08, 16.10, 16.11, 16.12, 16.13, 16.14, 16.18,

16.22, 16.24, 16.28 and new Sections 16.24.080, entitled “Exceptions”, 16.24.090, entitled “Reserved”, 16.24.100, entitled “Hillside Overlay Map”, and 16.24.110, entitled “Prominent Ridgelines Map”
Date: June 28, 2023
Prepared by: Christopher Tracy, AICP, Senior Planner
Reviewed by: Carl Stiehl, Interim City Planner
Approved by: Jarrett Ramaiya, Deputy Development Services Director David Chantarangsu, AICP - Development Services Director

RECOMMENDATION

1. Find that the proposed action is consistent with the Public Resources Code Section 21000 et.

Seq. (the California Environmental Quality Act (CEQA)) pursuant to Title 14, Division 6, Chapter 3 of the California Code of Regulations (CEQA Guidelines), Section 15162 for the reasons specified in this report; and

2. Receive public comments; and

3. Adopt a Resolution (Attachment 1) recommending that the City Council introduce and place on first reading an Ordinance for the Title 16 updates reflective of Attachment 1.3 and Attachment 1.4 (Exhibits “C” and “D”).

BACKGROUND
The City adopted a General Plan in 1994 following incorporation in 1991. At that time, it was determined that all development decisions were to continue using Riverside County’s Ordinance No. 348 (Zoning) until such time that the City adopted its own zoning code, provided that the County’s Ordinance No. 348 was not in conflict with the General Plan. For context, Title 16 of the Murrieta Development Code (Development Code) within the Murrieta Municipal Code (MMC) is the primary instrument for implementing the City’s General Plan. It provides the City’s regulations for the development and use of property within the City limits and provides standards for development, subdivisions, and other related land use activities.

Planning Commission Meeting Agenda Report
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In August 1996, the City Council retained a design consultant to assist with the development of a new zoning code. In September 1997, the City began the adoption process for the Development Code after holding several joint Planning Commission and City Council public workshops to receive public input and to identify development standards. In early 1998, the City implemented new zoning and development standards replacing Riverside County Ordinance No. 348. The new standards included hillside development. Other than minor updates in 2003, the City’s hillside development standards have remained relatively unchanged since adoption.

When the standards were initially adopted, they were applied on a citywide basis and not specifically to designated hillside areas within the City. Further, the City did not have the ability to identify hillside areas on its own. At some point in time, a map of the City’s hillside features was created which was not codified within the MMC. The information has been utilized in the past with respect to project review, but uncertainty remained regarding its accuracy. With changes in technology, the ability exists to identify hillside areas on a citywide basis with certainty using geographic information software commonly referred to as GIS.

Additionally, over time staff discovered inconsistent standards between existing Municipal Code sections that conflict with interpretations of the current standards. For example, Staff has received feedback from applicants that the City’s hillside standards and general height standards are overly complicated and have not been consistently applied.

The overall goal of these updates is to re-draft the development standards into language that is more concise and accurate for applicants and staff. With these proposed modifications, staff anticipates that proposed modifications would improve readability, resolve code inconsistencies, incorporate best practices, and simplify standards to make them more user-friendly to staff and applicants.

City Council directed staff at its annual priority goals workshop on March 29, 2022, to review the hillside development standards as there were concerns about how it was being interpreted. For reference, the City’s existing hillside development standards are contained in Chapter 16.24 “Hillside Development” of the Development Code. The proposed updates were recently reviewed and approved by the Riverside County Airport Land Use Commission (Attachment 2). Lastly, a webpage was created for the proposed modifications to inform the public about the proposed changes at the following link on the City’s website: https://www.murrietaca.gov/1314/Hillside- Ordinance-Updates.

Development Advisory Group
On August 25, 2022, staff presented an overview of proposed changes to the Development Advisory Group (DAG) to receive feedback on proposed standards. The consensus from the group was that the proposed standards will be beneficial in clarifying the applicability of hillside standards. Staff notes it also had the benefit of consultant assistance through a grant program administered by the Western Regional Council of Governments (WRCOG). Within the parameters of this grant program, staff was able to obtain updated graphic images as provided within the draft Ordinance by working with PlaceWorks, at no cost to the City. 16

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Planning Commission Workshop 1
This item was continued from the December 14, 2022 meeting. No report or presentation was provided.

Planning Commission Workshop 2
On January 25, 2023, staff presented proposed changes to the Planning Commission in a workshop format to review the current and proposed standards ahead of a future public hearing.

The purpose of this effort was to receive feedback on the more substantial issues with current MMC provisions and potential standards. Below is an overview of these Discussion Items:

1. Code conflicts for measuring building height, and staff’s recommendation to use an specific grade reference point that accounts for topography.

2. Hillside mapping using Geographic Information Systems (GIS) software.

3. Removal of the Average Slope Calculation from the Development Code and replacement with GIS information for identification of slope contours using 2-foot contour data.

4. Ridgeline mapping using GIS software for identification of these locations and application of techniques for development screening at ridgeline locations.

5. Updated standards for retaining walls, both inside and outside hillside areas.

The other items presented by staff were potential techniques to improve the readability of the existing MMC, examples of graphics that could be incorporated, highlights of areas to resolve code inconsistencies, ways to incorporate best practices, and suggestions from staff on how to simplify the standards to make them more user-friendly to both staff and applicants.

Due to time constraints from the robust discussion from both the public and Planning Commission, there was not enough time to cover the proposed retaining wall updates. Staff will cover this in more detail within the Analysis portion of this report. Comprehensively, all of the updates for consideration which relate to the hillside development standards are included in the draft Ordinance.

Community Outreach Workshop
On April 11, 2023 at the Alderwood Park Clubhouse, staff hosted a presentation on the existing and proposed hillside standards. Staff held the workshop to obtain additional feedback from the community on the proposed hillside development standards. This additional outreach was conducted per direction from the prior Planning Commission meeting for further community input and transparency. Areas that were covered were inclusive of existing and proposed Hillside Overlay applicability, height allowances for structures, height measurement criteria, hillside slope applicability, average slope calculation, prominent ridgelines, and retaining wall criteria. Lastly, staff provided some time for questions/answers at the end of the presentation for feedback.

Overview - Greer Ranch and Copper Canyon Specific Plans It should be noted that portions of the proposed Hillside Area Overlay cover both the Greer Ranch and Copper Canyon Specific Plans areas. For context, a Specific Plan is a planning document that implements the goals and policies of the Murrieta General Plan. Specific Plans serve as 17

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standalone planning documents with their own unique development standards within a defined area. This would include their own development standards for hillside areas. Areas with adopted specific plans would be excluded from any changes to the hillside regulations, except where noted.

Greer Ranch
With the implementation of the Greer Ranch Specific Plan, it was described as “...the site is characterized by two valleys created by three northeast to southwest trending ridgelines.

Elevations range from 1,560 to 2,160 feet above mean sea level. A highlands area is created by the hills in the northwestern portion of the Site. Development will be primarily restricted to areas of less than 25 percent slope (Greer Ranch Specific Plan, Page 1).” Given this standard in the specific plan, a project would avoid areas over 25 percent slope within Greer Ranch that would otherwise be considered a “Hillside Area” under the City’s hillside development standards.

When reviewing projects within the Greer Ranch Specific Plan on the steeper hillside areas of the plan area, there are provisions for limited pad grading and landform grading techniques. This mirrors the same approaches as provided in the Citywide Development Code: “...The Estate Residential use areas (Planning Areas 6 and 7) are characterized by more steeply-sloped, visible hillsides, particularly in the northwest portions of the Site. Limited pad grading and other minimal grading techniques, in addition to landform grading, will be stressed in the design of development within these areas (see Exhibit 12). A key factor affecting the grading here is access, which is provided with a modified "Mountain Local" road designed to minimize grading and reduce landform impacts (Greer Ranch Specific Plan, Page 34).” Copper Canyon
As described within the Specific Plan “...The prominent ridgelines and hillsides onsite are preserved in open space. Adherence to special hillside grading design criteria and development standards is required in the adjacent development areas to minimize and soften transitional grading impacts. (Copper Canyon Specific Plan, Page 290).” Furthermore, “...A slope analysis of the site was prepared early in the planning process to determine the site development opportunities and constraints. The analysis evaluated slopes of 0-15%, 16%-20%, 25% and 50% with an emphasis on slopes of less than 25% as a benchmark for determining developable areas and preservation requirements. Areas of 25% slope or greater are largely avoided.

The preservation of visually prominent ridgelines and steep hillside areas is a major design feature of the Specific Plan, supported by a comprehensive set of hillside grading, infrastructure, land use, and landscaping design standards and guidelines (Copper Canyon Specific Plan, Page 292).” Similar to Greer Ranch, Copper Canyon would also avoid those areas considered a “Hillside Area” under the citywide development standards.

In addition, the Specific Plan does have provisions for consistency with the hillside development standards when implemented: “...Based upon a directive from the City’s General Plan process a Hillside Overlay Zone (HOZ) was developed to identify prominent hillside and ridge line features of the City. The HDO establishes policies for the treatment of areas identified as being within or adjacent to the HOZ. A portion of the Copper Canyon site associated with the escarpment has been included in the HOZ and is subject to the provisions of the HDO. 18

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To ensure that the development of the proposed specific plan will be consistent with the HDO, the portions of the project site subject to the provisions of the HDO were identified. While much of the project site is proposed for open space uses where the HOZ is identified, Planning Area 1, Planning Area 2, Planning Area 16 (the golf course), and Planning Area 18 (the golf clubhouse, under the “Golf Course Alternative”) are largely located within the HOZ (Cooper Canyon Specific Plan, Page 40).”

ANALYSIS
The following analysis covers the major proposed modifications that were previously discussed at both the Planning Commission and Community Workshops, as well as, a summary of the more non-substantive modifications.

Summary of Code Changes – Chapters 8.20 and 15.52 (For Informational Purposes Only – Limited to City Council Review) (Attachments 1.1 and 1.2):
Updates to Section §8.20.030 “Declaration of Nuisance” oCode Enforcement Division’s request to address revegetation of sloped areas after a catastrophic event.
oFollowing a catastrophic event causing a loss of vegetation (i.e. wildfire, landslide, etc.), all impacted sloped areas of a subject parcel shall be revegetated to prevent further erosion pursuant to Section 16.28.080 “Landscaping Standards”. Updates to Section §15.52.020 “Definitions” for Consistency oClarification of a definition for “Hillside Area” and “Hillside Site” for consistency with the proposed updates under Chapter 16.
o“Hillside Area,” means those areas specifically designated in a Hillside Overlay as adopted by the City.

Summary of Code Changes – Title 16 (Attachments 1.3 and 1.4):

The proposed code changes are intended to clarify existing Hillside Development regulations and applicability, remove redundancies, clarify code sections, and streamline review processes where applicable. A summary of the changes proposed is reflected below. The modifications as described below run parallel with the order of the attached Ordinance Amendment:
Updates to Development Standards Table Updates: Tables 16.08-3, and 16.08-4 oAddition of footnotes on where someone would go to find the maximum building height and if the property is within a “Hillside Area”. oUpdates Section §16.08.020 “Residential Districts General Development Standards”, Table 16.08-03 “Residential (Single-Family) Zones General Development Standards” refers back to this footnote.
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oUpdates Section §16.08.020 “Residential Districts General Development Standards”, Table 16.08-04 “Residential (Multi-Family) Zones General Development Standards” refers back to this footnote.
Updates to Section §16.08.030.5.c “Single-family Residential Design Standards and Design Features”
oProvides a new cross-reference from Section §16.08.030.5.c “Single-family Residential Design Standards and Design” to Section §16.22.070(F) “Retaining Walls” for someone to locate retaining wall criteria.
Updates to Section §16.08.040.7.c “Multi-family Residential Design Standards” oProvides a new cross-reference from Section §16.08.040.7.c “Walls” to Section §16.22.070(F) “Retaining Walls” for the centralized retaining wall criteria. Development Standards Table Updates: Tables 16.10-2, 16.11-2, and 16.12-2 oAddition of footnotes on where to go to find the maximum building height and if the property is within a “Hillside Area”.
oSection §16.10.020 “Commercial District General Development Standards”, Table

16.10-2 “Commercial Zones General Development Standards Requirements” refers to this footnote.
oSection §16.11.020 “Office Districts General Development Standards”, Table 16.11- 2 “Office Districts General Development Standards” refers to this footnote. oSection §16.12.020 “Business Park and Industrial Districts General Development Standards”, Table 16.12-2 “Business Park and Industrial Zones General Development Standards” refers to this footnote.
Updates to Section §16.12.030 “Business Park and Industrial Zoning Districts Design Standards”
oProvides a new cross-reference from Section §16.12.030.4.d “Screen Walls/Fencing” to Section §16.22.070(F) “Retaining Walls” for the centralized retaining wall criteria.
Development Standards Table Updates: Tables 16.13-2 and Table 16.14-2 oProvides footnotes on where to go to find the maximum building height and if the property is within a “Hillside Area”.
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oSection §16.13.020 “Innovation District General Development Standards”, Table

16.13-2 “Innovation District General Development Standards” refers to this footnote. oSection §16.14.010 “Purpose”, Table 16.14-2 “Special Purpose Districts General Development Standards” refers to this footnote.
Updates to Section §16.18.080 “Height Measurement and Height Limit Exceptions” Please Note: Covered Under Discussion Item 1 from 1/25/23 PC Workshop Background:

This standard creates ambiguity as to when the City’s Hillside Development standards apply. Relatedly, Chapter 16.24 could be misapplied beyond the maximum slope height criteria as identified under Section 16.18.080 “Height Measurement and Height Limit Exceptions”. Staff is aware of an inconsistent interpretation that has been raised regarding how an applicant would measure a slope under a 14.3 percent slope (one- foot rise or fall in 7 feet). The measurement for a building pad would remain unchanged with these proposed modifications.

Planning Commission Workshop – 1/25/23:

This was presented at the Planning Commission Workshop as Discussion Item 1. Staff suggested the below updates as they would provide uniform standards for measuring height on a slope and pad irrespective of a given percentage. Outside of the Hillside Overlay area, the maximum height would be based on the underlying zone maximum height criteria. If a project is located within the mapped Hillside Overlay area, then a 30- foot maximum height would apply to those to those areas greater than 25 percent. The direction to staff from the Planning Commission was that this approach was agreeable for incorporation into the Ordinance amendment.

Community Workshop – 4/11/23:

This issue area was presented for a second time at the hosted community workshop.

The feedback from the group was positive and felt the proposed modifications were easier to implement versus the current criteria.

Proposed Modifications / Discussion:

Section 16.18.080 (Height Measurement and Height Limit Exceptions) of the Murrieta Municipal Code is hereby amended to read as follows:

All structures shall meet the following standards relating to height, except for fences and walls, which shall comply with Chapter 16.22 (Fences, Hedges, and Walls).

A. Maximum Height. The height of structures shall not exceed the standard established by the applicable zoning district in Article II (Zoning Districts and Allowable Land Uses) or for structures within a Hillside Area under Section 16.24.020.A. In addition, the Mmaximum height for structures on a specific parcel shall be measured as follows:the vertical distance from finish grade to an imaginary plane located the allowed number of feet above and parallel to the finish grade.
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FIGURE 3-1

HEIGHT MEASUREMENT

1. Establishing the high point and low point on the property as reference grade points as follows:
a. A measurement is taken from the lower of existing or proposed grade, 5 feet away from the lowest grade point around the structure in accordance with Figure 16.18-

1. This point shall be the low reference grade point. The highest point anywhere on the structure may not exceed the elevation of that low grade point by more than the allowable height plus the grade differential between the low point of structure and high point of structure (excluding items as detailed under Section 16.18.080(B) (Exceptions to Height Limits)), but in such case where the actual grade differential exceeds 10 feet, only a maximum of 10 feet may be added to the maximum allowable height per the zone.

The measurement is the difference in elevation between the highest and the lowest adjacent ground elevation surrounding the building.

FIGURE 16.18-1

MEASUREMENT LOCATIONS
b. If the difference in elevation is 10 feet or less, the reference grade point is established at the highest adjacent ground elevation. See Figure 16.18-2. If the difference in elevation is greater than 10 feet, the reference grade point is established at 10 feet above the lowest adjacent ground elevation. See Figure 16.18-3. For stepped 22

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or terraced buildings, the building height is the overall height as illustrated in Figures

16.18-4 and Figure 16.18-5.

FIGURES 16.18-2, -3, -4. -5

MEASUREMENT CRITERIA
c. For a project with a proposed pad configuration, the height of the structure measured by the vertical distance from the finished grade to the height of the roof line.

See Figure 16.18-6.
oThe structure height measurement is the difference in elevation between the highest and the lowest “Adjacent Ground Elevation” located five feet from the building. If the actual grade difference exceeds 10 feet, a maximum of 10 feet may be added to the maximum allowable height per the zone to accommodate areas such as crawl spaces.

Additionally, staff is proposing under this scenario, chimneys, vent pipes, etc. would be permitted to exceed this limit up to 15 percent as provided currently under MMC §16.18.080.C. - “Exceptions to Height Limits.” This approach reduces grading in some respects and promotes a grading design that follows natural grades. oIf the difference in elevation is 10 feet or less, the reference grade height is established at the highest “Adjacent Ground Elevation”. Figures 16.18-2 and 16.18-4. 23

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oIf the difference in elevation is greater than 10 feet, the reference grade height is established at 10 feet above the lowest “Adjacent Ground Elevation”. Figures 16.18- 3 and 16.18-5.
oProvides some flexibility to account for some subterranean areas that one would encounter on a sloped property (i.e. crawl space areas below a stem wall). oProvides some flexibility for someone to have a covered elevated deck or balcony within this height envelope.
oFor where there are steeper slopes, where the elevation difference is 10 feet or greater, the measurement envelope tightens as height would pull back with the slope.

This would minimize the overall height.
oFor gentler slopes where there is a differential of less than or equal to 10 feet, it accounts for slight variation at a building site.
oOn a very steep lot, it may limit the height of the building on the highest uphill side.

FIGURE 16.18-6

MEASUREMENT WITH PAD CONFIGURATION
B. Structures on Sloping Parcels. Where the average slope of a parcel is greater than one foot rise or fall in 7 feet of distance from the street elevation at the property line, structure height shall be measured in compliance with Chapter 16.24 (Hillside Development).

CB. Exceptions to Height Limits. Exceptions to the height limits identified in this development code shall apply in the following manner:

1. Roof-mounted Features. Roof-mounted features including chimneys, cupolas, clock towers, elevator equipment rooms, equipment enclosures, and similar architectural features shall be allowed, up to a maximum of fifteen (15) feet above the allowed structure height. The total square footage of all structures above 24

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the heights allowed in the zoning districts shall not occupy more than twenty-five (25) percent of the total roof area of the structure. Greater height or area coverage may be allowed subject to the approval of a minor conditional use permit in compliance with Chapter 16.52.

2. Parapet Walls. Fire or parapet walls may extend up to four feet above the allowable height limit of the structure.

3. Public Assembly, Hotels, Class "A" Office and Public Structures. Places of public assembly including churches, schools, assembly halls, Class "A" office buildings greater than three (3) stories, hotels and other similar structures may exceed the established height limit by one (1) foot for every two (2) feet that the minimum required front, rear and side yard setbacks are increased. The increase in the front, rear and side yard setbacks is determined by averaging the total of the increased building setbacks at the closest point on all sides. The maximum additional height allowed is thirty (30) feet above the height limit established for the applicable zoning district. This exception shall not apply when the site is adjacent to single-family zoned property. This exception may be used in conjunction with the height exception for rooftop equipment.

4. Telecommunications Facilities. Telecommunication facilities, including antennae, poles, towers, and necessary mechanical appurtenances, may be authorized to exceed the height limit established for the applicable zoning district, subject to the approval of a conditional use permit in compliance with Chapter 16.52.

5. Basement. A basement is defined as a story that has its floor surface below the adjoining finished grade as both conditioned and unconditioned space per the California Building and Residential Codes.
…
oFor a proposed building pad location, the height of the building is the vertical distance from the finished grade to the height of the roof line. oThe finished grade is a known metric and easily identifiable element. oThis mirrors the current standard and it is a simple approach for both a project applicant and City staff.
oThis is a relatively easy standard for an applicant to show compliance with elevations and height measurements on a standard set of plans.
Updates Section §16.18.140.D.4.b “Setback Regulations and Exceptions” Please Note: Covered Under Discussion Item 5 from 1/25/23 PC Workshop Background:

Presently, Section §16.18.140.D.4.b refers to two retaining wall standards with one standard facing outward and inward; however, it is missing some other wall components that are needed to address line-of-sight and visibility triangles, required offset for step- 25

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back, general design criteria, and a cross-reference to retaining wall criteria in Hillside Areas.
oMakes our existing standards easier to follow for applicants and staff for retaining wall criteria.
oApplies Citywide
Planning Commission Workshop – 1/25/23:

This was presented at the Planning Commission Workshop as Discussion Item 5. As mentioned in the introduction, due to time constraints from the robust discussion from both the public and the Planning Commission; there was not enough time to cover the proposed retaining wall updates at the Planning Commission Workshop on January 25, 2023.

Community Workshop – 4/11/23:

This issue area was presented at the hosted community workshop. The feedback from the group was that having Table 16.18-2 and having the existing parameters consolidated into one table would be easier for staff and project applicants to follow. Having the retaining wall offset at 12 feet in height was positively received as well.

Proposed Modifications:

TABLE 16.18-2

RETAINING WALLS - NON-HILLSIDE AREAS
Criteria
Facing Outward Within Front or
Street-Side Setback
For residential, mixed-use
locations, commercial, and
industrial, retaining walls within
a front yard or street-side
setback shall not exceed four
feet in height.

Facing Inward Retaining walls up to six feet in
height may be located within a
required setback provided the
exposed side of the wall faces
into the subject parcel and shall
incorporate landscaping to
screen the wall(s).

Line-of-Sight Locations/Visibility
Triangles
For any required line–of–sight
locations or visibility triangles, a
maximum of thirty inches in
height shall be permitted.

Six Feet or Greater - Retaining
Wall Facing Outward
Retaining walls six feet or
greater in height shall be subject
to the same setback
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requirements as the main
structure in the applicable
zoning district and shall
incorporate landscaping to
screen the wall(s).

Required Offset At twelve feet in height, a
retaining wall shall be separated
by a minimum of six feet
horizontally to accommodate
landscaping.

Design Criteria Refer to Section 16.22.070(F)
(Retaining Walls).

Retaining Wall(s) within Hillside
Areas
Refer to Table 16.24-2
(Retaining Walls – Designated
Hillside Areas)
Discussion:

To walk through the proposed parameters:

First, for the first row, with a retaining wall facing outward within the front or street-side setback, an applicant would be looking at a 4-foot maximum height. This would be for walls within a required front or side setback. Past the setback line, a retaining wall can be as tall a structure for that underlying zone. This is the current standard. For the second row, with a retaining wall facing inward, an applicant would be looking at a 6-foot maximum height. An example would be a parking area at a lower elevation than the street. For the third row, for any line-of-sight areas, a proposed maximum height would be thirty inches for safety issues for vehicle visibility. This is consistent with current standards for this design by engineering but just reinforced here. For the fourth row, for a retaining wall six feet or greater would be subject to the same setback requirements as the main structure.

No change in comparison to the current standard. For the fifth row, staff proposes a required offset at twelve feet in height. The retaining wall offset would be separated by a minimum of six feet horizontally in width to accommodate landscaping. This situation is concerning to staff for aesthetic reasons, as it can lead to the creation of large retaining walls with hard edges without landscaping. The idea here was to provide for additional landscaping to help soften tall retaining walls as shown in the images below. 27

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For the sixth row and fourth rows; this is just a cross-reference to the uniform retaining wall design criteria and for retaining walls in the Hillside Overlay which have their own criteria. This will be covered further within this report. Minor Table Numbering Update: Table 3-3 to become renumbered Table 16.22-1 oRenumbers Table 3-3 to Table 16.22-1 (Maximum Height of Fences, Hedges, and Walls).
oThis would be in-line with other recent table numbering updates within the MMC. Updates to Section §16.22.040 “Exceptions to Height Limitations” oMinor updates to the title to note “Non-Retaining”.
oIntention for this update is to clarify that the exceptions under this Section are applicable to non-retaining walls and not all walls.
Updates to Section §16.22.050 “Measurement of Fence or Wall Height” oThe objective here is to clarify the measurement criteria under Section §16.18.080 (Height Measurement and Height Limit Exceptions) is to utilize the standards under Chapter 16.24 for parcels located within the Hillside Overlay. oProvides parameters for when there is a difference in the ground level between two adjacent parcels and how that is determined.
Updates to Section §16.22.060 “Walls Required Between Different Zoning Districts” oClean-up of criteria and errors in the MMC with respect to wall criteria between Business Park (BP), General Industrial (GI), or General Industrial-A (GIA) Zones. 28

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oIncorporation of Innovation (INN) Zone fencing criteria in alignment with existing wall standards. This is presently absent.
oProvides for pedestrian and vehicle access standards within the INN Zone with a few exceptions for pedestrian access.
New Section §16.22.070.F “Retaining Walls”
Please Note: Covered Under Discussion Item 5 from 1/25/23 PC Workshop Background:

It was brought to staff’s attention through internal dialog with the Planning Division that Section §16.22.070 is lacking design criteria for retaining walls; however, it covers other general wall and fencing requirements. This lack of clarity has created issues for both project applicants and City staff when reviewing a development project. To help resolve this, staff is proposing a new centralized design section. oMakes our existing standards easier to follow for applicants and staff. oApplies Citywide.
oProvides a variety of design choices.

Planning Commission Workshop – 1/25/23:

Similar to the other retaining wall items, this was to be presented at the Planning Commission Workshop under Discussion Item 5. As previously noted, there was not enough time to cover this item. Below is a synopsis of the proposed updates.

Community Workshop – 4/11/23:

This issue area was presented at the hosted community workshop. The feedback from the group was positive and the group was in agreement with the proposed modifications as presented.

Proposed Modifications / Discussion:

To highlight the proposed modifications:
oProviding cross-referencing of unifying standards for all zones with respect to retaining walls for design consistency under Section §16.22.070.F “Retaining Walls”. oRetaining walls may be used to reduce grading, preserve natural, features, or increase soil stabilization.
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oCrib walls, keystone, loffelstein walls, and other similar living wall systems are a design option as long as it can be demonstrated on the project plans that the walls are structurally acceptable and provisions are provided for acceptable landscaping. 30

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Such walls would be subject to the following standards:
oUtilize a curvilinear slope pattern consistent with the appearance of the natural hillside terrain.
oBe planted with landscape material suitable for the climate and wall exposure relative to the sun.
oThe color palette and materials selected for the retaining wall would be required to blend in with the adjacent hillsides and landscape plant palette. oWalls and fences would incorporate materials and colors used with adjacent structures. All materials used to construct the retaining wall(s) would consist of either:
native stone, poured-in-place concrete, precast concrete block, color treated, textured or veneered to blend in with the surrounding natural colors and textures of the existing landscape and native plant materials.
oWalls and fencing visible from the public right-of-way would be designed to provide variation in placement, use of planters, differing materials, and modulation of the wall plane.
oWalls and fences would follow landform grading shapes and contours. oUse of tubular steel or wrought-iron safety fencing may be necessary in conjunction with these wall locations for landscape safety maintenance personnel. Placement shall be consistent with the California Building Code and related codes. Minor Modifications to Section §16.24.010 “Purpose”
oMinor typographical updates with capitalization and italicizes to reference a given definition.

Updates to Section §16.24.020 “Applicability”
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Please Note: Covered Under Discussion Item 2 from 1/25/23 PC Workshop Background:

The issue is MMC §16.24.060.A under “Hillside Slope Categories” applies the “Hillside Condition” to all natural slopes within the threshold of 25% slope up to 50% slope throughout the City (no development is permitted on slopes over 50%). Staff understands that the intent of this original criteria was for it to be limited to mapped areas (see below image and Attachment 3) within the Hillside Overlay, not on a citywide basis. The other issue is that this map was never codified within the MMC, which should have been the case for ease of reference for project review for both City staff and project applicants.

Planning Commission Workshop – 1/25/23:

This was presented at the Planning Commission Workshop as Discussion Item 2. Staff suggested the following updates to limit the applicable criteria to those mapped area within the Hillside Overlay that are 25 percent or greater area and utilize the City’s GIS to have this mapped at two-foot contours for project review. Planning Commission concurred with this approach.
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Community Workshop – 4/11/23:

This issue area was presented for second time at the hosted community workshop. The feedback from the group was positive and felt the proposed modifications to have this mapped and codified within the MMC would work with consensus from the group.

Proposed Modifications / Discussion:

Staff believes with implementation of the following modifications it will bring clarity to the issue:
oUtilization of Geographic Information System (GIS) for identification of mapped “Hillside Areas”.
oUpdates to MMC which address the existing discrepancy with a 20 percent slope being referenced, versus the 25 percent slope as described for the Hillside Overlay Area.

This has been a key issue of misunderstanding and applicability in the past with respect to project review.
oUpdates to Section §16.24.020. The updates here help clarify that hillside overlay criteria only applies to those areas that are located within the Hillside Overlay. Updates to Section §16.24.030 “Definitions”
Removal of Average Slope Calculation
Please Note: Covered Under Discussion Item 3 from 1/25/23 PC Workshop Background:

As part of the definitions updates it has been brought to staff’s attention the below calculation may have been misinterpreted or misapplied for determining a slope. 33

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Slope, Average. The method of determining average natural slope of land using the following equation:

I x L x .0023 where
A
I = Contour interval in feet.

L = Combined length in feet of contour lines measured on the project site. .0023 = A constant that converts square feet into acres and expresses slope in percent.

A = Project site area in acres.

Planning Commission Workshop – 1/25/23:

This was presented at the Planning Commission Workshop as Discussion Item 3. Staff suggested the removal of this formula. This was based on the fact that with today’s technology, this formula is no longer necessary by using the City’s GIS using two-foot contours. The Planning Commission concurred with this approach.

Community Workshop – 4/11/23:

This issue area was presented for a second time at the hosted community workshop. The feedback from the group was positive and they felt the removal of the formula from the MMC would work.

Proposed Modifications / Discussion:

The proposed modifications would remove this formula. As mentioned within the introduction portion of this discussion item, with today’s technology, this formula is no longer necessary in the MMC and the slope criteria can be mapped utilizing the City’s GIS service using two-foot contours. This will be beneficial to project applicants and City staff in reviewing projects since it simplifies the analysis.

Prominent Ridgeline Updates – Part 1
Please Note: Covered Under Discussion Item 4 from 1/25/23 PC Workshop Background:

An issue that has come is the misapplication of Prominent Ridgelines. The Definitions section currently provides very vague language in defining where these locations are. This lack of clarity could create issues for both project applicants and City staff when reviewing a future project that lies within these areas. A potential solution would be to identify these locations within the Prominent Ridgelines Map (See below image and Attachment 4) and more precisely on the City’s GIS.
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Planning Commission Workshop – 1/25/23:

This was presented at the Planning Commission Workshop as Discussion Item 4. With these updates, there was some concern from residents that have property within the Los Alamos Hills area by having this mapped, it may limit future development at these locations. Their contention was that it should only apply to those mapped areas that are conserved for open space and not to existing developed ridgeline properties within the Hillside Overlay. From this dialog, Planning Commission directed staff to host a community workshop to discuss this item further with residents. The last takeaway from this was that the Planning Commission was in favor of using GIS technology to have these areas mapped and codified within the MMC.

Community Workshop – 4/11/23:

This discussion item was presented at the hosted community workshop. The feedback from the group was much the same as Planning Commission. Again, it was noted that these locations should only apply to those mapped areas that are conserved for open- space and not to existing developed ridgeline properties within the Hillside Overlay.

Proposed Modifications / Discussion:
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With these updates, staff does not foresee by having these locations mapped using both GIS and codified within an MMC, it would result in a barrier to future development at these locations. It will be a helpful tool for site analysis for both City staff and project applicants with respect to these locations when reviewing future proposals. Additionally, staff is proposing enhanced landscaping at these locations which will be covered in greater detail under Section §16.24.060 “Hillside Development Standards” within this report.

Other Definition Updates
oProvides new definitions consistent with other portions of the MMC including “City”, “City Engineer”, “City Manager”, and “Director”.
oCorrects/updates existing definitions consistent with other portions of the MMC. oUpdates provided to Figure 16.24-1 (Slope Examples) with the inclusion of a new 4:1, 25 percent slope example and clearer graphics.
Updates to Section §16.24.040 “Application Submittal Requirements”

oUpdates to Section §16.24.040. This covers existing standards for the submittal of a natural features map, a conception grading plan, a drainage map, a slope analysis map, slope profile drawings, data sources, provisions for a geotechnical report, objective design guidelines, criteria for when no grading is required, and additional information that may be needed.
oThe proposed language is moving from a subjective interpretation to objective standards. This is consistent and required with recent State housing legislation.

Updates to Section §16.24.050 “Project Review Procedures” oCross-referencing to the Hillside Overlay Map for applicability. oClarification of “Commission” to mean “Planning Commission”. oUpdates with referencing to objective criteria consistent with recent State housing legislation, versus existing subjective criteria and requirements. Updates to Section §16.24.060 “Hillside Development Standards” Retaining Wall Updates – Part 2
Please Note: Covered Under Discussion Item 5 from 1/25/23 PC Workshop Background:
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Similar to the approach for covering the updates proposed under the Citywide retaining walls updates which was covered earlier within this report, staff is suggesting the addition of a new table to make both the existing and proposed standards easier to follow for applicants and staff within 25 percent or greater areas within the mapped Hillside Area overlay.

E. Walls and Fences.

TABLE 16.24-2
RETAINING WALLS – DESIGNATED HILLSIDE OVERLAY
AREAS
Criteria
Up to Three Feet Within Front or
Street-Side Setback
Walls within the required front
yard or street-side setback shall
not exceed three feet in height,
shall be separated by a
minimum of three feet, and shall
incorporate landscaping to
screen the wall(s).

Line-of-Sight Locations/Visibility
Triangles
For any required line–of–sight
locations, or visibility triangles, a
maximum of thirty inches in
height shall be permitted.

Up to Six Feet. Where multiple terraced
retaining walls are designed to
retain larger slopes, they shall
not exceed six feet in height.

Refer to Figure 16.24-2.

Over Six Feet Prohibited
Over Six Feet and as Part of
Structure.

Walls that are an integral part of
the primary structure may
exceed six feet in height;
however, their visual impact
shall be mitigated through
contour grading and landscape
treatment. Refer to Figure

16.24-3.

Required Offset At six feet in height, a retaining
wall shall be separated by a
minimum of six feet horizontally.

Refer to Figure 16.24-2.

Design Criteria Refer to Section 16.22.070.F
(Retaining Walls).
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1. Retaining walls, not exceeding six feet in height, may be allowed to reduce grading, preserve natural features, or increase soil stabilization. Within the required front yard setback, individual retaining walls shall not exceed three feet in height.

2. Where multiple (terraced) walls are designed to retain larger slopes they shall not exceed six feet in height and shall be separated by a minimum of six feet horizontally. A maximum of two walls shall be placed together. Walls within the required front yard setback shall not exceed three feet in height and shall be separated by a minimum of three feet and shall incorporate landscaping to screen the wall(s).

Planning Commission Workshop – 1/25/23:

Similar to the other retaining wall items, this was to be presented at the Planning Commission Workshop under Discussion Item 5. As previously noted, there was not enough time to cover this item. Below is a synopsis of the proposed updates.

Community Workshop – 4/11/23:

This issue area was presented at the hosted community workshop. The overall feedback from the group was positive and the group was in agreement with the proposed modifications as presented.

Proposed Modifications / Discussion:

The proposed standards here would apply only to designated Hillside Areas. To walkthrough the above table, for the first row above, for a retaining wall within the front or street-side setback, a 3-foot maximum height would be permitted. This reflects the current standard with the additional of the street-side criteria. For the second row, for any line-of- sight areas, a proposed maximum height would be thirty inches for safety issues. This is consistent with current standards for this design by engineering, but just reinforced here.

For the third row, a 6-foot maximum height would be set for terraced walls. This is consistent with the current standard. For the fourth row, for a retaining wall over 6-feet and as part of structure may exceed six feet in height; however, their visual impact shall be mitigated through contour grading and landscape treatment. This is also consistent with the current standards. For the sixth row, at 6-feet in height, a retaining wall shall be separated by a minimum of six feet horizontally in width. This is consistent with the current standard. For the last row, this is just a cross-reference to the uniform retaining wall design criteria that was described earlier within this staff report.

Prominent Ridgelines Updates – Part 2
Please Note: Covered Under Discussion Item 4 from 1/25/23 PC Workshop Background:
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Presently, MMC §16.24.60.G provides some parameters that structures are not permitted to be closer to a prominent ridge than fifty (50) feet as measured vertically on a cross- section or one hundred fifty (150) feet horizontally on a topographic map.

3. Structures shall not visually impair ridgeline silhouettes. Structures are not permitted closer to a prominent ridge than fifty (50) feet measured vertically on a cross- section or one hundred fifty (150) feet horizontally on a topographic map. whichever is more restrictive. Exceptions to this requirement for public facilities. utilities. and infrastructure necessary to serve the public health, safety, and welfare may be considered by the commission

3. In order to help address visual impacts at Prominent Ridgelines, use of the combination of natural occurring vegetation (trees/shrubs) and proposed landscaping shall be implemented to screen proposed structures at these locations. Additionally, any required Fuel Modification Zone and California Fire Code standards shall be considered in the design of this screening method blending with the terrain and existing vegetation.

Planning Commission Workshop – 1/25/23:

This was presented at the Planning Commission Workshop as Discussion Item 4. There was some concern from residents that have property within the Los Alamos Hills area that having this standard no longer makes sense as a number of properties have developed along the ridgeline areas. It was described by the residents the original intention was that it should only apply to ridgelines when the City was beginning to be developed as there was a much more naturalized context surrounding the Hillside Areas. It was suggested that if this standard were to remain should only apply to the properties located within open- space lots or other undeveloped land.

The challenge is how to balance this goal while providing property owners the ability to utilize their property; so staff suggested a few options to the Planning Commission including:
oProviding the opportunity for a landform depression/berming grading. oUtilization of muted earth-tone colors for exterior walls and roofing with the incorporation of exterior paint and roof elements with a low reflective value. oUtilization of natural occurring vegetation (trees/shrubs) to help screen proposed structures.

The takeaway from this dialog was with the utilization of natural occurring vegetation (trees/shrubs) to help screen proposed structures as a solution was the preferred solution for updating this existing standard.

Community Workshop – 4/11/23:

This issue area was presented at second time at the hosted community workshop. The dialog/feedback from the group was much the same as Planning Commission. Again, it 39

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was noted with the utilization of natural occurring vegetation (trees/shrubs) to help screen structures, it would be an amenable solution for all.

Proposed Modifications / Discussion:

As proposed, staff believes with the implementation of the proposed modifications at these ridgeline locations, the end result will be largely the preservation the visual characteristics at these ridgeline locations while providing property owners the ability to utilize their property. Furthermore, any required Fuel Modification Zone and California Fire Code standards will be implemented. With the modification for enhanced landscaping at these locations, it would still meet the intent following General Plan Goals and Policies: Land Use Goal LU-22 “Natural and visual resources are valued resources to maintain the rural character of the Los Alamos Hills.” and the following corresponding Policy LU-22.2 “Encourage new construction and landscape design that utilizes grading techniques to mimic the natural terrain.” Additionally, the modifications would still meet the intent of Goal CSV-5 “Hills and ridges are protected for their environmental and aesthetic values” and following Policy CSV-5.1 “Promote compliance with hillside development standards and guidelines to maintain the natural character and the environmental and aesthetic values of sloped areas.” All in all, future development at these locations and would involve careful siting, grading, and landscaping techniques to minimize exposure and preserve vistas of these ridgelines.

Other General Updates to Section
oUpdates to Table 16.24-1 (Hillside Development Standards) for criteria. oUpdates to site design and roadway placement for consistency with current California Fire Code and City standards.
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oMinor updates for cross-lot profiles which cover the building envelope for a structure on a downhill lot, the building envelope for an uphill lot, and for the building envelope at cross-lot slopes.
oMinor updates for walls and fencing criteria. Refers to Section §16.22.070.F (Retaining Walls) for additional criteria and for consistency with citywide design standards for retaining walls.
oCross-referencing for consistency with citywide landscaping standards at sloped areas and use of drought tolerant and fire resistive landscaping materials. oUpdates for grading techniques at hillside areas, drainage improvements at hillside areas, and for public safety.
Updates to Section §16.24.070 Hillside Development Guidelines oMinor updates for the site design and building placement of a residence at a site on a slope. Buildings are encouraged to be placed parallel to the slope and not counter to it, which is the current guidance.
oMinor updates to roadway placement at hillside locations. Placement is encouraged to work with the terrain and not counter to it. These are the current parameters. oMinor updates to grading techniques which covers site situations with minimal grading, contour grading, landform grading, and drainage improvements in a more objective and naturalized manner.
oCross-referencing of unifying standards for all zones with respect to landscaping on sloped areas.

New Section §16.24.080 “Exceptions”
oProvide exceptions from requiring a grading permit in a Hillside Area if meets the current criteria as provided under Section §15.52.040 “Permit Exceptions”. These exceptions include exploratory excavations, installation of underground utilities, clearing and brushing when directed by the fire chief to mitigate a potential fire hazard, etc.
oProvides exceptions from requiring a grading permit for flatwork, pools, or spas, which results in the disturbance of 50 cubic yards or less, does not require a grading permit. oAll other activities resulting in the disturbance of 50 cubic yards or less (excluding those areas that are identified within Section 16.24.060.G “Grading”), shall require the applicant to provide a statement to that effect, which shall be filed with the City Engineer including the following information: parcel boundaries, pad elevations, on or off-site existing grade elevations, vehicular access to and from the project site with 41

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both private and public roadways, existing utilities, and, if applicable, septic system location(s).
New Section §16.24.090 “Reserved”
oReserved blank section for future hillside updates/amendments. New Section §16.24.100 “Hillside Overlay Map”
oCodifies the Hillside Overlay Map within the MMC. This has been missing up to this point in time which has made it challenging for City staff and project applicants to reference.
oProvided that these updates are approved, staff will work with Code publisher on uploading a high-resolution image.
oThis information will also be incorporated into the City’s online Geographic Information System (GIS) as a layer for future reference which will assist City staff and project applicants.
New Section §16.24.110 “Prominent Ridgelines Map”
oCodifies where these locations would apply within the MMC. oSimilar to the Hillside Overlay Map as described above, provided that these updates are approved, staff will work with Code publisher on uploading a high-resolution image. oThis information will also be incorporated into the City’s online Geographic Information System (GIS) as a layer for future reference which will assist City staff and project applicants.

Conclusion
All in all, the changes proposed in this update are intended to reconcile the various code sections and achieve consistency throughout the Development Code (Title 16), as well as, the Municipal Code (Chapter 15.52) for hillside standards. With the implementation of these updates, it will bring clarity for residents and project applicants on what standards apply, and where, with respect to hillside development that is currently lacking. Lastly, with the application of the proposed modifications covered in this ordinance amendment, it will continue to preserve the visual and aesthetic quality of hillsides and ridgelines as viewed from the surrounding community and avoid and minimize site disturbance at these locations to the extent feasible.

General Plan Consistency
It should be noted that these updates will be consistent with Conservation Element - Goal CSV-5 by maintaining that “...Hills and ridges are protected for their environmental and aesthetic values.

To substantiate this determination, this ordinance update will remain consistent with Policy CSV- 42

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5.1 in that it will “..Promote compliance with hillside development standards and guidelines to maintain the natural character and the environmental and aesthetic values of sloped areas.

Compliance with this goal and policy will be achieved in that future projects at hillside locations will be required to utilize landform, contour, and similar grading techniques which will be designed to blend with the natural existing site contours. This will be required to be demonstrated in future grading plans. Furthermore, proposed building pads and buildings with stem wall configurations will be sited in a manner to necessitate only minimal grading and to preserve open areas of the hillside areas as much as possible. Finally, naturally occurring vegetation (trees/shrubs) will be utilized at these locations, and confirmation will be verified on landscaping plans. This will help reinforce the natural aesthetic values of a given location.

It should be noted that the updates will be also be consistent with the following goal and policies with respect to the Los Alamos Hills community: Land Use Goal LU-22 with “Natural and visual resources are valued resources to maintain the rural character of the Los Alamos Hills” and implemented with the following policies: LU-22.1 “Encourage the preservation of natural and visual resources within Los Alamos Hills, such as rock outcroppings and scenic views of the local hills and valleys, to the greatest degree practicable” LU-22.2 “Encourage new construction and landscape design that utilizes grading techniques to mimic the natural terrain”; and LU-22.3 “Encourage development that minimizes impacts to existing water courses, mature trees, and natural features as much as possible. In those cases that these areas/features are impacted, the final design should provide adequate mitigation on-site and/or in nearby areas.” Projects in Los Alamos Hills will also be required utilize landform, contour, and similar grading techniques which will be designed and implemented in a manner to blend with the natural existing site contours which will be consistent with the description of LU-22.2. Lastly, projects in Los Alamos Hills will be placed in a manner to that minimizes impacts to natural features as much as possible to the community and mitigation for impacts will be assessed on project-level basis through CEQA review which is consistent with LU-22.1 and LU-22.3.

Moreover, the modifications for the utilization of naturalized landscaping for aesthetic purposes at hillside areas will be consistent with the following goal and policy: Goal CSV-9 “A community that promotes the growth of an urban forest and water-efficient landscaping, recognizing that plants provide natural services such as habitat, storm water management, soil retention, air filtration, and cooling, and also have aesthetic and economic value” and Policy CSV-9.6 “Maintain a guide to preferred trees, shrubs, and ground cover plants of noninvasive species, or refer private parties to an existing guide that meets City needs to assist private landscaping efforts.” Implementation of this policy supports our fire resistant standards for vegetation planting, maintenance, and for public safety for hillside development proposals as reviewed by Murrieta Fire & Rescue.

ENVIRONMENTAL DETERMINATION
The proposed action was reviewed for consistency with the citywide Comprehensive Development Code in 1998. These standards were originally evaluated and implemented under the adopted Negative Declaration for implementation of the Comprehensive Development Code on October 28, 1997. These updates have been evaluated for consistency for the current “Project” proposal utilizing this Negative Declaration and the Murrieta General Plan Final FEIR and Subsequent SEIR in 2021 (SCH No. 2010111084), by the City of Murrieta, in accordance with Public Resources Code Section 21166 and California Environmental Quality Act (CEQA) 43

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Guidelines Section 15162. Based on this evaluation, Staff determined the project would not result in new impacts or changed circumstances that would require a new environmental document and the previous environmental document adequately covers these modifications (Attachments 5 and 6).

NOTICING
The Project was noticed in compliance with Section 16.76 of the Development Code, including sending the notice to all properties that lie within the Hillside Area Overlay and publication occurred within a newspaper a minimum of 10 Days prior to the hearing and posting of the agenda (Attachment 7).

ATTACHMENTS

1. Hillside Updates (PC Resolution)

1.1 Ex. A - Draft Ord. – Title 8 And 15 - Strike_Undl. (For Info. Purposes Only)

1.2 Ex. B - Draft Ord. – Title 8 And 15 - Clean (For Info. Purposes Only)

1.3 Ex. C - Draft Ord. – Title 16 - Strike_Undl

1.4 Ex. C - Draft Ord. – Title 16 - Clean

2. Riverside Co. Airport Land Use Commission, Approval Letter, June 2, 2023

3. Hillside Overlay Map Exhibit

4. Prominent Ridgelines Map Exhibit

5. Hillside Ordinance Updates 15162 Consistency Analysis

6. Hillside Ordinance Updates Subsequent NOD

7. Public Notice
44 45
46 47
48 49
50 51
52 53
CITY OF MURRIETACity Council Meeting AgendaReport3/5/2024Agenda Item No. WS1.TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCILFROM: David Chantarangsu, AICP Development Services DirectorPREPARED BY: Chris Tracy, AICP Senior Planner, Advanced PlanningSUBJECT: Hillside Updates Workshop (DCA-2021-2396) - Ordinance Overview RECOMMENDATIONReceive a presentation by staff, discuss the Ordinance overview, and provide direction related to policyoptions under the proposed Ordinance framework; andReceive public comments.PRIOR ACTION/VOTEOn March 29, 2022, the City Council directed staff to review the hillside development standards (Non-ActionItem).On June 28, 2023, the Planning Commission recommended the introduction and first reading of an Ordinanceproviding updates to the hillside development standards amending Murrieta Municipal Code (MMC) Chapters8.20, 15.52, and updating portions of Title 16 (Vote 4-0-1) (Attachment 1).On August 15, 2023, the City Council hosted a workshop on this item. The City Council requested additionalinformation. The workshop was continued to a future meeting date . Additional details from this discussion areprovided within the Analysis portion of this report below (Attachment 2).CITY COUNCIL GOALMaintain a high performing organization that values fiscal sustainability, transparency, accountability andorganizational efficiency.BACKGROUNDFor details about the historical context of the hillside development standards and why these updates are beingbrought forward, please refer to the Background Section as provided within Attachment 1. Staff is bringingforward these updates in a continued workshop for the City Council to review the proposed standards andprovide input ahead of a future public hearing. This allows for time for staff to walk through the more complexupdates with the City Council and allows for feedback on new information produced by staff since the lastCITY OF MURRIETA Printed on 3/4/2024Page 1 of 8powered by Legistar™54 3/5/2024Agenda Item No. WS1.workshop.The purpose of this effort to update the City’s hillside standards is to improve readability and graphic exhibits,resolve code inconsistencies, incorporate best practices, and simplify the standards to make them more user-friendly to staff and applicants. The City’s existing hillside development standards, contained in Chapter 16.24(Hillside Development) of the Development Code, were added in 1997 to support the City’s 1994 General Planland use goals and policies associated with the City’s hillside features. The General Plan continues to containgoals and policies in hillside areas to “maintain the natural character and the environmental and aestheticvalues of sloped areas.”AnalysisAs described in the beginning of this report, the City Council conducted a first workshop on this item on August15, 2023. The workshop was continued to allow staff to conduct additional analysis in response to City Councilquestions and public concerns. Specifically, the City Council directed staff to provide additional mappingdetails for both the hillside areas and prominent ridgeline map exhibits. These recommended updates coverparcels that are owned by the Riverside Conservation Authority (RCA), properties that fall under Multi-SpeciesHabitat Conservation Preservation (MSHCP) Criteria Cells, City-owned parcels, and to identify undevelopedand developed parcels within areas potentially affected by changes to the proposed standards. Attachments 3through 11 depict the data described above graphically through multiple maps and were created using theCity’s land use data available through its GIS software.As a result of the additional analysis conducted by staff, it was determined that out of 371 privately ownedparcels, only 51 would be fully affected by changes to the hillside standards since they were not previouslydeveloped. The developed 179 parcels would be subject to the new hillside standards if adopted, but existingdevelopment would remain. Only new developments such as additions, property redevelopment wherehousing structures were rebuilt, or future subdivisions/ lot splits would be affected. City and RCA-ownedparcels would be unaffected since parcel development is not the goal of public agency ownership of openspace lands other than for recreational purposes. Staff notes a key development restriction applicable toridgelines would be removed with the proposed regulations and replaced with requirements for landscapescreening.Hillside Area(s)319 parcels are developed and are privately owned. These parcels would be subject to the newrequirements if additional development on the parcels was ever proposed, such as a room addition,reconstruction of a home, or a subdivision or parcel map.179 parcels that are developed, are privately owned and are within an MSHCP Criteria Cell.51 parcels in the study area are undeveloped and privately owned. These parcels represent theremaining undeveloped areas within the proposed Hillside Overlay area that would be required tofollow the new requirements if adopted.30 parcels are undeveloped, are privately owned and are within an MSHCP Criteria Cell.0 parcels are undeveloped, publicly owned, and are within the boundaries of an MSHCP Criteria Cell.25 parcels are undeveloped and owned by the RCA.1 parcel is undeveloped and is privately owned by an entity for conservation purposes.Prominent Ridgeline(s)22 parcels are developed and are privately owned.21 parcels are developed, are privately owned and are within an MSHCP Criteria Cell.CITY OF MURRIETA Printed on 3/4/2024Page 2 of 8powered by Legistar™55 3/5/2024Agenda Item No. WS1.8 parcels are undeveloped and privately owned.7 parcels are undeveloped, privately owned and are within an MSHCP Criteria Cell.0 parcels are undeveloped and publicly owned.0 parcels are undeveloped, publicly owned and are within the boundaries of an MSHCPCriteria Cell.0 parcels are undeveloped and are owned by the RCA.With respect to acreage, the total acreage for all parcels within the mapped hillside areas encompasses 2,157acres throughout the City. Staff notes this figure includes prominent ridgeline areas. Undeveloped privately-owned parcels represent approximately 457 acres, conserved publicly-owned parcels represent approximately492 acres, City-owned parcels represent approximately 163 acres, developed and publicly-owned parcelsrepresent approximately 177 acres, and developed privately owned parcels represent approximately 1,152acres.Lastly, the total acreage for all parcels within the mapped Prominent Ridgelines Area encompassesapproximately 445 acres. Staff notes that overlay does not cover the entirety of a parcel. Undevelopedprivately owned parcels within the ridgelines area represent approximately 114 acres, conserved publicly-owned parcels represent approximately 170 acres, and developed privately owned parcels representapproximately 161 acres.Mapping UpdatesOn December 2022, the Murrieta Hills Specific Plan was annexed into the City’s boundaries as approved byRiverside County’s Local Agency Formation Commission (LAFCO). Murrieta Hills is adjacent to the GreerRanch Specific Plan along its northerly boundary and has a large variation in topography throughout theproject’s boundaries. The prior Hillside Overlay Map Exhibit identified much of the Murrieta Hills project areaas being within the overlay boundaries. Similar to other specific plans within the City, Murrieta Hills has its ownhillside development protocols. Given this additional detail, staff updated the map (see the following page forthe image and as referenced under Attachment 3) to reflect this recent boundary modification.Image 1 - Hillside Overlay ExhibitSummary of Proposed Code Modifications - MMC Chapters 8.20 and 15.52:Updates to MMC Section §8.20.030 “Declaration of Nuisance”oCode Enforcement Division’s request to address revegetation of sloped areas after acatastrophic event.Updates to MMC Section §15.52.020 “Definitions” for Consistency”oClarification of a definition for “Hillside Area” and “Hillside Site” for consistency with theproposed updates under Chapter 16.Summary of Proposed Code Modifications - MMC Title 16For the updates as proposed under Title 16, please refer to Attachment 12 for a“side-by-side” comparison asit relates to the current MMC Section versus the proposed updates. Lastly, as provided in Attachment 12, a“Strikeout-Underline” version of the proposed amendments is included for further details as the PlanningCommission recommends (Attachment 13).For the City Council’s reference, staff also prepared the table below to describe the changes recommended bystaff and approved by the Planning Commission. Attachment 13 depicts additions and deletions to theCITY OF MURRIETA Printed on 3/4/2024Page 3 of 8powered by Legistar™56 3/5/2024Agenda Item No. WS1.proposed ordinance in redline/strike-through format.Summary of Changes CITY OF MURRIETA Printed on 3/4/2024Page 4 of 8powered by Legistar™57 3/5/2024Agenda Item No. WS1.

The following points summarize the findings from the mapping analysis:“ ” “ ” Natural Areas versus Manufactured Grading - Ridgeline Discussion and ParametersThere is public interest in these overall updates, particularly concerning ridgeline development parameters andhow regulations apply to existing natural hillside areas versus areas previously graded referred to asmanufactured slopes. The applicability of the current standards is summarized below as contained in MMCSection 16.24.020. Regardless of how the ordinance may have been applied in the past, the Municipal Coderequires the standards be applied in the following situations as specified in MMC Section 16.24.020:To uses and structures within areas with a slope of twenty (20) percent or greater and/or aredesignated on the significant features map on file with the department.CITY OF MURRIETA Printed on 3/4/2024Page 5 of 8powered by Legistar™58 3/5/2024Agenda Item No. WS1.Development standards, guidelines, and provisions of Chapter 16.24 shall be applied to those portionsof land with a predominance of significant natural slopes exceeding twenty-five (25) percent and areasthat are integrally contiguous or slopes determined as significant by the director.The determination of slope is to be computed on the natural slope of the land before grading iscommenced.Notwithstanding the conflicting slope language that currently exists, the application of City hillside standards inMMC Chapter 16.24 applies to property that exceeds a certain natural slope. Since many properties potentiallyeligible for the proposed regulations were developed under county jurisdiction, there is no precise way todetermine which areas of a site are natural or disturbed other than through an engineering opinion. Adoption ofthe proposed Hillside Overlay Map eliminates any debate or confusion about this topic. Even the currenthillside ordinance recognizes that a property with natural and disturbed grades is still subject to therequirements of the hillside ordinance as described by the second bullet point above.The following information also provides the current General Plan within the Municipal Code and staff’s relatedanalysis.General Plan Provisions and RidgelinesThe following summarizes the General Plan’s Goals and Policies related to ridgeline development.Goal CSV-5:“Hills and ridges are protected for their environmental and aesthetic values", andrelated implementing Policy CSV-5.1. To substantiate this determination, this ordinance updatewill remain consistent with Policy CSV-5.1 and the following discussion.oPolicy CSV-5.1:“Promote compliance with hillside development standards and guidelinesto maintain the natural character and the environmental and aesthetic values of slopedareas.”For the Los Alamos Hills community: Land Use Goal LU-22 applies to ridgeline development in that“...Naturaland visual resources are valued resources to maintain the rural character of the Los Alamos Hills”and isachieved with the following policies:oLU-22.1:“Encourage the preservation of natural and visual resourceswithin Los AlamosHills, such as rock outcroppings and scenic views of the local hills and valleys, to thegreatest degree practicable."oLU-22.2“Encourage new construction and landscape design that utilizes gradingtechniques to mimic the natural terrain.”Development Code Provisions and RidgelinesChapter 16.24 Current Definitions and Design Parameters:Prominent Ridge: A ridge or hill location that is visible from Interstate 15 or Interstate 215 or from an arterial orsecondary street that forms part of the skyline or is seen as a distinct edge against a backdrop of land.Ridge: An extended, narrow, conspicuous elevation of land generally between valleys. (Staff note: the definedterm “Ridge” has been separated from the definition of “Prominent Ridge” for the purposes of this report. As ofthis writing, it is not known if the language should be separated or left as is. This will require further staffreview). A. Site Design.CITY OF MURRIETA Printed on 3/4/2024Page 6 of 8powered by Legistar™59 3/5/2024Agenda Item No. WS1. 1. Design of building sites should be sensitive to the natural terrain. Structures should belocated to minimize grading and preserve natural features (e.g., prominent knolls, ridgelines, etc.)2. Preserve views of significant visual features, as designated on the hillside overlay zone map, as seenfrom both within and outside a hillside development. When designing lots and plotting homes, the followingprovisions should be considered:a. Dwellings should be oriented to allow view opportunities even though views may be limited.Residential privacy should not be unreasonably sacrificed, andb. A significant public vista, skyline, open space corridor, or vertical open space corridor as seen froman interstate, an arterial, or a secondary street should be a major design element in the site planning process3. Structures shall not visually impair ridgeline silhouettes. Structures are not permitted closer to aprominent ridge than fifty (50) feet measured vertically on a cross-section or one hundred fifty (150) feethorizontally on a topographic map, whichever is more restrictive. Exceptions to this requirement for publicfacilities, utilities, and infrastructure necessary to serve the public health, safety, and welfare may beconsidered by the commission.e. Manufactured cut and fill slopes exceeding ten feet in height that will be either exposed to permanentpublic view or are adjacent to environmentally sensitive areas should be designed with features characteristicof natural slopes, where physically feasible so that their ultimate appearance will resemble a natural slope.This will include slopes along streets and highways adjacent to parks, schools, open spaces, other publicfacilities, and other prominent and visible slopes.DiscussionAs demonstrated in the above descriptions, both the General Plan and Municipal Code call for thepreservation of “ridgeline-related” visual resources covering both natural and manmade areas. Policy CSV-5.1speaks to maintaining the aesthetic values of sloped areas where the ridgeline would be a slope component.For the Los Alamos Hills Area under LU-22.1, calls for the preservation of both natural and visual resources,and LU-22.2 speaks to encouraging new construction and landscape design that utilizes grading techniques tomimic the natural terrain. Again, the ridgeline would be an aesthetic component under both of theseimplementing policies.As described within the Development Code, it calls for the preservation ofsignificant visual features, and onecould make the case that a ridgeline represents this type of feature, whether natural or manmade. Further, itdescribes that structures shall not visually impair ridgeline silhouettes with setback criteria. Lastly,manufactured cut and fill slopes with prominent and visible slopes need to be designed in a manner thatemulates natural conditions.FISCAL IMPACTNone.ATTACHMENTS1. Planning Commission Ordinance Introduction Staff Report, June 28, 20232. City Council Workshop 1 Staff Report, August 15, 20233. Citywide - Hillside Overlay Map Exhibit4. Citywide - Prominent Ridgelines Map Exhibit5. Focused 1 - Prominent Ridgelines - Los Alamos Hills Area6. Focused 2 - Hillside - Los Alamos Hills Area7. Focused 3 - Hillside - Greer Ranch AreaCITY OF MURRIETA Printed on 3/4/2024Page 7 of 8powered by Legistar™60 3/5/2024Agenda Item No. WS1.8. Focused 4 - Hillside - Murrieta Hills Area9. Focused 5 - Hillside - Bear Creek Area10. Focused 6 - Hillside - Western City Quadrant - Northwest Section11. Focused 7 - Hillside - Western City Quadrant - Southwest Section12. Title 16 Modifications - “Side-by-Side” Comparison13. Draft Ordinance - Title 16 - Strikeout-Underline14. Correspondence CITY OF MURRIETA Printed on 3/4/2024Page 8 of 8powered by Legistar™61

CITY OF MURRIETA
City Council Meeting Agenda
Report
6/17/2025
Agenda Item No. WS1.

TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: David Chantarangsu, AICP Development Services Director PREPARED BY: Chris Tracy, AICP Senior Planner, Advanced Planning SUBJECT:

Hillside Updates (DCA-2021-2396) - Workshop 3

RECOMMENDATION
Receive a presentation by staff, receive public comments, discuss the proposed Ordinance, and provide direction related to policy options under the proposed Ordinance framework.

PRIOR ACTION/VOTE
On March 29, 2022, the City Council directed staff to review the hillside development standards (Non-Action Item).

On June 28, 2023, the Planning Commission recommended the introduction and first reading of an Ordinance providing updates to the hillside development standards amending Murrieta Municipal Code (MMC) Chapters

8.20, 15.52 and updating portions of Title 16 (Vote 4-0-1) (Attachment 1).

On August 15, 2023, the City Council hosted a workshop on this item. The City Council requested additional information. The workshop was continued to a future meeting date (Vote 5-0-0) (Attachment 2).

On March 5, 2024, the City Council hosted a second workshop on this item. Due to additional time needed for the discussion and feedback, the workshop was continued for a second time (Vote 5-0-0) (Attachment 3).

CITY COUNCIL GOAL
Maintain a high performing organization that values fiscal sustainability, transparency, accountability and organizational efficiency.

BACKGROUND
The City Council directed staff at its annual priority and goal setting workshop on March 29, 2022, to review the hillside development standards, as there were concerns about how they were being interpreted. The overall goal of these updates is to re-draft the development standards into language that is more concise and accurate for applicants and staff. With these proposed modifications, staff anticipates that the proposed modifications would improve readability, resolve code inconsistencies, incorporate best practices, and simplify standards to make them more user-friendly to staff and applicants. The City’sexisting hillside development CITY OF MURRIETA Printed on 6/12/2025Page 1 of 16
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standards to make them more user-friendly to staff and applicants. The City’sexisting hillside development standards, contained in Chapter 16.24 (Hillside Development) of the Murrieta Development Code (MDC), were added in 1997 to support the City’s1994 General Plan land use goals and policies associated with the City’s hillside features. The General Plan continues to contain goals and policies in hillside areas to “maintain the natural character and the environmental and aesthetic values of sloped areas.” For details about the historical context of the hillside development standards and why these updates are being brought forward, please refer to the “BackgroundSection”as provided within Attachments 1, 2, and 3. Staff is bringing forward these updates in a continued workshop format for the City Council to review the proposed standards and provide input ahead of a future public hearing.

Feedback from Council Workshop 2
As noted above, on March 5, 2024, the City Council hosted a second workshop on this item. Due to additional time needed for the discussion/feedback, it was continued a second time. Detailed informational maps of the City’shillside areas were included, which are provided in Attachments 4 through 10 for reference and for context. Attachment 4 depicts the overall Hillside Overlay area as mapped using digital geographic information data. Exhibits 5-10 display specific areas of the City within the proposed Hillside Overlay area at a greater level of detail.

Following are some of the key takeaways from that meeting’spublic commentators, staff’sanalysis of each topic, and potential solutions:
“Having an Alternative to Geographic Information Systems (GIS) mapping for determining Slopes”:

Issue: Having an alternative to the Geographic Information Systems (GIS) mapping and slope information.

The concern related to this issue was that the GIS data source may not be up to date or as accurate as possible, and therefore, there needs to be an alternative method for determining this information as it relates to evaluating a project site within a hillside area.

Background/Analysis: Staff concurs that having an alternative method is a reasonable approach if there is any doubt that the data being pulled has a discrepancy.

Potential Solution: Staff is suggesting the use of AutoCAD or a similar industry-benchmarked CAD-related platform as approved by City Engineering (Potential industry alternatives include Sketch-up 3D, Civil 3D, TerraModeler, etc.).

Example of AutoCAD 3D Terrain Modeling
Image Source: <https://www.designworkshopsydney.com.au/autocad-3d-lofted-terrain/> For context, AutoCAD is a widely utilized software application for computer-aided design and drafting in the Civil Engineering and Architectural industries. It should be noted that it supports various coordinate systems CITY OF MURRIETA Printed on 6/12/2025Page 2 of 16
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Civil Engineering and Architectural industries. It should be noted that it supports various coordinate systems and projections, allowing data to be displayed in the correct spatial context. It can also ensure that imported data aligns properly with existing drawings and allows users to geo-reference their drawings by assigning real- world coordinates (latitude and longitude) to a drawing. “Moving the Geogrid wall type outside of the Wall section”:

Issue: The speaker suggested moving the Geogrid wall type outside of the Wall section of the Municipal Code, as the retaining wall criteria does not apply because it uses reinforcement in the soil behind the wall.

Background/Analysis: For context, this is a type of retaining wall that uses geogrid material to reinforce the structure and provide stability. The following images illustrate this wall type:

Image 1 - Geogrid Wall Installation Image 2 - Geogrid Wall Installation Image 1 Source: <https://www.paramountmaterials.com/products/retaining-wall-reinforcement-grid> Image 2 Source: <https://pavetool.com/blogs/pave-tool-blog/how-to-install-geogrid-for-retaining-wall> In a geogrid wall, the geogrid mesh layers are placed between the layers of soil and extend horizontally into the backfill or slope. The geogrid mesh acts as a reinforcement and is designed in a manner to resist lateral forces such as pressure from the surrounding soil or water (Images 1 and 2).

Image 3 - Conventional Retaining Wall Installation
Image 3 Source: <https://www.retainingwallcompanies.com/walls/concrete-masonry.html> This type of wall is very similar to that of a conventional retaining wall in terms of appearance and functionality (Image 3); therefore, staff recommends that it should be treated as a wall and be subject to the same CITY OF MURRIETA Printed on 6/12/2025Page 3 of 16
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placement and height criteria as a typical wall.
“Looking at the retaining wall height as being measured from the face of a wall, rather than from the footing”:

Issue: The speaker suggested that the retaining wall height be measured from the face of a wall, rather than from the footing.

Background/Analysis: Staff prefers to measure walls from the top of a wall footing and not the finished grade adjacent to a wall face. Finished grades can change or be artificially raised or lowered by grading, or other variables. These variables may include settlement, erosion, landscaping modifications, or future grading changes, all of which can alter the apparent grade and compromise the reliability and consistency of height measurements taken from the wall face. For this reason, staff recommends a more stable and standardized point of reference which is the top of a wall footing.

Potential Solution: A suggested solution here could be to measure from the top of the footing (rather than at the bottom) since that is a known metric. This approach provides a consistent, verifiable point of reference that is established during construction and is less likely to be affected by future site alterations such as backfill settling, landscaping changes, or erosion. Using the top of the footing also aligns with typical construction documentation and inspection practices, making it easier to verify and review during plan checks and field inspections.
“A six-foot wall height is too restrictive for the maximum height for retaining walls within a Hillside Area”:

Issue: The speaker suggested that a six-foot wall height is too restrictive for the maximum height for retaining walls within a Hillside Area.

Background/Analysis: Staff’sconcern is that placing taller walls in highly visible locations may conflict with hillside standards aimed at reducing visual impacts. Prominent wall faces can obstruct scenic views, disrupt the natural landscape, and appear visually intrusive, particularly when they are uniform in color and texture. In residential settings, larger monolithic structures can sometimes feel out of place and create a sense of imbalance.

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Images 5 and 6 - Examples of Tall Retaining Walls at highly visible locations “We have had inconsistent application of the hillside criteria since its implementation in 1997”:

Issue: The speaker stated that the hillside criteria have been inconsistently applied since their first implementation.

Background/Analysis: The primary challenge has been ongoing confusion among both staff and project applicants regarding when the regulations apply to a specific property. This uncertainty often stems from vague or subjective language in the existing criteria, as seen within the MDC. This has likely led to inconsistent interpretations by different reviewers. A likely contributing factor has been the absence of a codified hillside area map within the Municipal Code, something that would provide a clear and reliable point of reference.

Additionally, the current hillside provisions in the MDC lack clear guidance on when and where the regulations are triggered, further compounding the issue.

Potential Solution: To address this issue, it is essential to have clear and well-defined criteria, as in the proposed Ordinance, and further implemented within the MDC for all stakeholders involved to ensure that standards are applied consistently at projects and properties. This clarity will help reduce ambiguity during the permitting and inspection processes, minimize disputes or misinterpretations among stakeholders, and create a more predictable framework for both developers and staff. By establishing uniform guidelines, the City can better maintain the integrity of its built environment and uphold community expectations. “Look at having Specific Plans hatched with the outline of the boundaries of the Hillside Area”:

Issue: The speaker suggested hatching out the Specific Plan Areas within the parameters of the Hillside Overlay Map boundaries (such as Greer Ranch, Murrieta Oaks, Copper Canyon, The Vineyard, and Murrieta Springs).

Background/Analysis: Applying a hatched overlay to areas within Specific Plan boundaries presents a challenge, as it may create confusion because Specific Plans include their own hillside development standards. This could lead to situations where an applicant refers to both the Specific Plan and the hillside regulations, resulting in conflicting guidance.

Such overlaps may cause inconsistencies in interpretation, delays in the review process, and an increased need for clarification from planning staff. More importantly, if two sets of standards appear to apply simultaneously, it could raise questions about enforceability and ultimately weaken the clarity and authority of CITY OF MURRIETA Printed on 6/12/2025Page 5 of 16
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simultaneously, it could raise questions about enforceability and ultimately weaken the clarity and authority of both.
“TheGeneral Plan’sGoals and Policies for hillside areas are obsolete since these areas are no longer visible as they once were due to development within the City since 1997”:

Issue: At the previous workshop, a speaker mentioned that the General Plan’sGoals and Policies for hillside areas are obsolete since these areas are no longer visible as they once were due to development within the City since 1997.

While it's true that development throughout the City since 1997 has affected the visibility and context of some hillside areas in some portions of the City, that does not render the General Plan’s Goals and Policies obsolete. In fact, those policies were often created not just to protect views, but to guide responsible development, minimize environmental impacts, preserve natural terrain, and ensure safety in areas of the City prone to erosion, landslides, or wildfire.

For context within the General Plan, as described within the Conservation Element, under Hills and Ridges, “Murrieta’snatural setting offers views and vistas of features that have both scenic and ecological value. A variety of rolling hillsides, mountain ranges, the Valley floor, and varied natural vegetation contribute to the unique visual character of Murrieta, as well as the surrounding region. The Hogbacks are a prominent visual feature within the Murrieta landscape that can be seen from many vantage points. This ridgeline crosses the eastern portion of the City and supports areas of relatively undisturbed natural vegetation along the western slope.

Image 7 - View of Los Alamos Hills from Sports Park
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Image 8 - View westward of the Santa Rosa Plateau
Image Source: <https://www.google.com/maps>
Image 9 - View westward of the Santa Rosa Plateau
Image Source: <https://www.google.com/maps>
Views of the Santa Rosa Plateau occur along the I-15 and I-215 Freeways, as well as from lands located to the west of the Hogbacks. Views from these locations also include the largely undisturbed ridgelines that extend to the north and south of the Plateau, combined with hillside areas supporting chaparral habitat. Oak woodland habitat and a variety of canyons are also present along the foothills of the Santa Ana Mountains and CITY OF MURRIETA Printed on 6/12/2025Page 7 of 16
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add to the existing visual character.

The Murrieta Municipal Code establishes guidelines for future development proposed in the City’shillsides.

Chapter 16.24, Hillside Development, provides measures for the long-term protection of existing natural topography and scenic character whenever feasible through the regulation of grading activities, intensity, and density of development proposed, structural massing, building height, and other characteristics in order to minimize potential impacts on the
existing viewshed.”
Although visibility may have declined from certain vantage points within the City since 1997, the underlying objectives remain as pertinent as ever. Principles such as preserving slope stability, protecting native habitat, and ensuring that development blends appropriately into the natural terrain are all still desirable strategies as implemented by the City’sGeneral Plan and Goals and Policies. These standards are crucial for preserving natural landscapes, preventing soil erosion, ensuring public safety, and maintaining the aesthetic and environmental integrity of development in these Hillside Areas.

The following images visually demonstrate the importance of consistently applying hillside standards at a project site, highlighting undesirable techniques involving mass grading, over-excavation, and the use of highly visible retaining walls in hillside areas throughout parts of the western Inland Empire.

Inland Empire - Hillside Grading Examples
Image 10 - Earlier in the Development of the Project - Example of mass-grading hillsides that don’t blend into a hillside with hard edge lines.

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Image 11 - Later in the Development of the Project
Image 12 - Example of manufactured hillsides that do not blend into a hillside with hard edge lines.

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Image 13 - Before - Example of over-excavation/retaining walls that do not blend into a hillside with hard edge lines.

Image Source: <https://www.google.com/maps>
Image 14 - After
Image Source: <https://www.google.com/maps>
Draft Ordinance
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As requested during the previous workshop discussion, the following is a summary of the less critical and more critical updates for Council consideration in the development of the Ordinance Updates. A copy of the draft Ordinance is provided in Attachment 11, and previous correspondence from Workshop 2 is provided in Attachment 12. In terms of the draft Ordinance, it has been revised to be more streamlined in both the content and structure as it relates to the proposed amendment. Staff are available to walk through the details of each section to provide additional context and to support further discussion.

Please note that references to the Commercial Zones, Office Districts, Business Park and Industrial Zones, and Innovation Zones have been removed, as these areas are not impacted by the current version of the Hillside Area Overlay Map. In addition, the Prominent Ridgelines Map exhibit has been omitted following further review, as staff concluded that the applicable locational criteria for structures and screening methods can be effectively implemented without the need for a reference map.

Staff will present a final version of the Ordinance at the conclusion of these workshops once all components have been finalized under the Ordinance Introduction phase. This final version will reflect input gathered from stakeholders, incorporate any necessary revisions based on feedback, and ensure alignment with the City's broader advanced planning objectives.

Hillside Updates Ordinance Review
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FISCAL IMPACT
None.

ATTACHMENTS

1. Planning Commission Ordinance Introduction Staff Report, June 28, 2023

2. City Council Workshop 1 Staff Report, August 15, 2023

3. City Council Workshop 2 Staff Report, March 5, 2023

4. Citywide - Hillside Overlay Map Exhibit

5. Focused 2 - Hillside - Los Alamos Hills Area

6. Focused 3 - Hillside - Greer Ranch Area

7. Focused 4 - Hillside - Murrieta Hills Area

8. Focused 5 - Hillside - Bear Creek Area

9. Focused 6 - Hillside - Western City Quadrant - Northwest Section

10. Focused 7 - Hillside - Western City Quadrant - Southwest Section

11. Draft Ordinance - Title 16 - Strikeout-Underline

12. Correspondence - Prior to Workshop 2
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78 Los Alamos Hills Sports Park

LOS ALAMOS RD
W
HITEW
OOD RD
M

ASON AVE

MARY PL
HUNTER
RD

BUSMAN RD

RUTH ELLEN W
AY

SHANNON LN

PERRY RD

SHEA LN

ERNEST W
AY

RANCH HOUSE ST

STARFALL WAY

COUGAR PL

SPRINGHAVEN ST

LONGBRANCH
AVE

ROSEMARY ST

TREE RIDGE ST

BILOXI PL
LYNW

OOD AVE

CANYON HILLS WAY

EUCALYPTUS ST

TAMRACK WAY

PONDEROSA CT

TWILIGHT CT
Hillside Overlay
City-Owned Parcels
RCA Owned Parcels
.

FOCUS
AREA
79 §¨¦
215
W
HITEW
OOD RD

CLINTON KEITH RD

LOS ALAM
OS RD
M
ENIFEE
RD

BRONCO W
AY

RAVENNA ST

PERRY RD

SOCORRO ST

SHEA LN

COUGAR PL

ARENDT LN

BILOXI PL

CREIGHTON AVE

TREE RIDGE ST

HUNTER RD

COURTNEY BROOK LN

BRONCO COURT
Hillside Overlay
City-Owned Parcels
RCA Owned Parcels
. FOCUS
AREA
80 CLINTON KEITH RD
Murrieta Springs SP 309

LOS ALAM
OS RD

CLINTON KEITH RD
WHITEW
OOD
RD
M
ENIFEE
RD
BR

ONCO WAY

SHANNON LN

RAVENNA ST

PERRY RD

SOCORRO ST

JESSIECEAS
LN

CRAWFORD CAN YONRD

SHEA LN

ARENDT LN

ETIENNE CIR
Hillside Overlay
City-Owned Parcels
RCA Owned Parcels
Undeveloped_Parcels
Specific Plan
Murrieta Springs SP 309
.

FOCUS
AREA
81 Murrieta Hills SP 4
§¨¦
215
Greer Ranch SP 2
Loma Linda University
Medcal Center-Murrieta
I-215

ANTELOPE RD

BOTTLEBRUSH
W

AYTREFOIL ST

SOMERS RD

BAXTER RD

SUMACAVE

PAPERBARK
AVE

MCELWAIN RD

CRABAPPLEST

PUMPKIN ST

FERN PINE WAY

ELDERBERRY ST
BENT
G
RASS
AVE
W
ALT
RD
I-215
Hillside Overlay
Specific Plan
Murrieta Hills SP 4
Greer Ranch SP 2
.

FOCUS
AREA
82 Greer Ranch SP 2

GREER RD

DUSTER RD

PABESURD

LINNEL LN

SIERRA LN
M

ITCHELL RD

MCELWAIN RD

CRABAPPLEST

VIRIDIAN ST

BISHOP RD

HOLLINGSWORTH DR

CHAMOMILEST

CLINTON KEITH RD

PEPPERMINTPL

FENTON LN

NEALA LN

HAZE LHURSTST

LAJUNE ST

SAGE GLEN ST

BOWERVINEPL

PAPILLION ST

GRISHAM ST

LANDON LN

TUBEROSEST

BELLA LN

BRECKYN LN

BROGAN LN

CORNFLOWER
PL

PECAN TREE LN

TRIANGLE ST

KATELYN AVE
PLUM
E LN
M

ADIA LN
SUNDEW
LN
Hillside Overlay
Specific Plan
Greer Ranch SP 2
Undeveloped_Parcels
.

FOCUS
AREA
83 GREER RD

EVANDE LRD

A B ELIA ST

PABESU RD

CHAMOMILEST

HORSETAIL ST
DARCY

PL NUTMEG ST
CHIVE
ST
STOCK
ST
ORCHID
TREE
AVE

EUCLID ST

ALOE WY

P UMPKINST

DESERTLOCUST ST

ICEPLANT LN

REDMAPLE ST

GRISHAM ST

MAHONIA WAY

VINCA CT

LEMON GRASS WAY

TRIANGLE ST

RED LEAF LN
Hillside Overlay
Specific Plan
Murrieta Hills SP 4
Greer Ranch SP 2
.

FOCUS
AREA
84 GREER RD

CLINTON KEITH RD

NUTMEG ST

A B ELIA ST

PABESU RD

VIA SEGOVIA

VIA MADRID

CHAMOMILEST

HORSETAIL ST

HOLLINGSWORTH DR

DARCY PL

SONATA DR
M

URANOST

ST RAPHAEL DR

CATT RD

KETTLE RD
CHIVE
ST

TINDERBOXWAY
STOCK
ST

SPINDLE WAY

MANDELIEU DR

WOODEN HORSE TR

NICE AVE

PUMPKINST

EUCLID ST

ALOE WY

BISHOP RD

CANDYAPPLE
W
AY

COPPERCRAFTDR
RED
BLUFF
PL

CRABAPPLEST

EVANDEL RD

TOULON DR

TUBEROSEST

ASHLANDWAY

O AK GLEN ST

GRISHAM ST

MAHONIA WAY

LEMON GRASS WAY

PECAN TREE LN

TRIANGLE ST

KATELYN AVE

RED LEAF LN

ANTIBES DR

NEVILLE ST
Hillside Overlay
Specific Plan
Greer Ranch SP 2
Undeveloped_Parcels
.

FOCUS
AREA
85 Murrieta Hills SP 4
§¨¦
215

ANTELOPE RD
HillSide Overlay
Specific Plan
Murrieta Hills SP 4
.

FOCUS
AREA
86 Murrieta Springs SP 309
M
ARY PL

LOS ALAMOS RD

CELIARD
M

ASON AVE

WRANGLER DR
RUTH
ELLEN
W
AY

WHITEWOOD RD

SHANNON LN

ARIEL ST
HUNTER
RD

ERNEST W
AY

HACHTEN RD

CORTE SOMBRERO

SMOKEWOOD DR

VIA LAR

BUSMAN RD

VIA PERA

BROKEN ARROW WAYVIA SONRISA
W

ILLIE LN

FLORA CT

ROSEMARY ST
Hillside Overlay
City-Owned Parcels
RCA Owned Parcels
CNLM Owned Parcels
Undeveloped_Parcels
Specific Plan
Murrieta Springs SP 309
.

FOCUS
AREA
87 Copper Canyon SP 9

CLINTON KEITH RD

VIA MORENO

CALLE DEL OSO ORO

BEAR CREEK DR

SKYHIGHDR
OXFORD
DR

MONTANYAPL

CALLECIPRES

SHOALCREEK
DR

SETTLERS RDG

BENDING OAK CT
HOLLY
DR

JOAQUINRIDGE DR
AM
BER LN

HILLSIDETRAIL
DR

MOUNTAINSIDE CT

LYNX CT
CLEAR

CREEKST

BOTANICAPL

MOUNTAIN SHADOW RD

GLENABBEY LN

ABERDEENDR

WINDSOR
CT

SILVERWOOD ST
KENTCT

MUIRFIEL D
DR

POPLAR CT
ASH CT

LUPINE PL
Hillside Overlay
Undeveloped_Parcels
Specific Plan
Copper Canyon SP 9
.

FOCUS
AREA
88 Copper Canyon SP 9

CALLE DEL OSO ORO

CLINTON
KEITH
RD
HAYES
AVE

SKYHIGHDR
CELLAR
SPRING
S
DR
VIA
ALISOL

B EAR CREEK DR

VIAMORENO

VINEYARD
PKY

MONTANYAPL
OXFORD
DR

CLAIRISSA WAY

CALLECIPRES

ASPEN DR

PEPP ERLEA F ST

SILVERWOOD ST

PINE CREEK
PL

BENDING OAK CT
DRY
CREEK
DR
WILDW
OOD
LN
AM
BER LN

MOUNTAINSIDE CT

KAREN PL
CLEAR

CREEKST

FIELDCREST LN

BOTANICAPL

SILVERLEAF WAYCLOVERLEAF WAY

MUIR FIELDDR
WILLOW
CT

CALLE RAMBLA ORIENTA

COPPERWOOD ST

TRAIL BLAZE PASS

LUPINE PL
Specific Plan
Copper Canyon SP 9
Hillside Overlay
.

FOCUS
AREA
89 FIG ST

DOUGLASS AVE

DELUZRD

SHAW LN

MEADOWLARKRDG

JAN VALERIE RD

JOHN WAYNE RD

MANCE RD

LUCILLE CIRCLE RD

MILES ST

BAYMEADOWSWAY

MORNING DEW CT
Hillside Overlay
Undeveloped_Parcels
.

FOCUS
AREA
90

ATTACHMENT 11

STRIKEOUT/UNDERLINE VERSION

Section 16.08.020 (Residential Districts General Development Standards), Table 16.08-03 (Residential (Single-Family) Zones General Development Standards) of the Murrieta Municipal Code is hereby amended in its entirety to read as follows:
“
TABLE 16.08-3

RESIDENTIAL (SINGLE-FAMILY) ZONES

GENERAL DEVELOPMENT STANDARDS
Development
Feature
RR ER-1 ER-2 ER-3 SF-1 SF-2(3)
Minimum
Parcel Size

2.5 acres(2)

1.0 acres

0.5 acres(1)
10,000
sq. ft.
7,200 sq.
ft.
4,350 sq. ft.

Density Range 0.1 - 0.4
dus/acre

0.4 - 1.0
dus/acre

1.0 - 2.0
dus/acre

2.0 - 3.0
dus/acre

2.1 - 5.0
dus/acre

5.1 - 10.0
dus/acre
Minimum
Parcel Width
100 feet 100 feet 100 feet 70 feet 70 feet 55 feet, 45 feet for parcels less than
5,000 square feet.

This parcel width
shall be increased
to a 50 foot width
for every fifth lot
on a non-cul-d e-
sac parcel street
frontage.

Minimum
Livable Area
1,000
sq. ft.
1,000
sq. ft.
1,000
sq. ft.
1,000
sq. ft.
1,000 sq.
ft.
1,000 sq. ft.

Setbacks
Front 20 feet 20 feet 20 feet 20 feet 20 feet 20 feet
Interior 20 feet 20 feet 20 feet 10 feet 10 feet 7.5 feet per side.

For parcels less
than 5,000 sq. ft. =
A minimum of an
average of 12 feet
overall for the
combination on of
both interior sides
with no side
setback of less
than 5 feet.

Street Side 20 feet 20 feet 20 feet 20 feet 20 feet 10 feet Rear 20 feet 20 feet 20 feet 20 feet 20 feet 20 feet
Accessory
Structures
Consistent with Section 16.44.150
91

Maximum
Parcel
Coverage
25% 25% 35% 35% 35% for
two-
story;
45% for
single
story
50%
Maximum
Building
Height(4)
40 feet(4) 40 feet(4) 40 feet(4) 35 feet(4) 35 feet(4) 35 feet(4) Minimum On-
site
Landscaping
25% of front yard area
Small Attached
Unit
Configuration
Refer to Section 16.16.020 “Planned Residential Development General Standards” for development standards and project review and 16.16.030 “Planned Residential Development Design Standards and Parameters.” Notes:
(1) A forty (40) foot wide buffer shall be provided along Washington Avenue (from Guava to Elm Street) in the public right-of-way. Landscaping to include six-foot high block wall, pedestrian trails and/or sidewalk, and landscaping berms to act as natural buffers. New residential projects will be allowed to access from Washington Avenue with residential lots abutting Washington Avenue are prohibited from taking direct access from Washington Avenue.
(2) The minimum parcel area for properties zoned RR can include adjacent area to the centerline of the public street right-of-way.
(3) For projects proposing a clustering configuration with detached single-family homes or within small attached unit configurations, please see 16.16.020 “Planned Residential Development General Standards” and 16.16.030 “Planned Residential Development Design Standards and Parameters” for requirements.
(4) For structures located within a Hillside Area, see maximum height criteria as provided within Section 16.24 (Hillside Development) and applicability. “

92

Section 16.08.020 (Residential Districts General Development Standards), Table 16.08-04 (Residential (Multi-Family) Zones General Development Standards) of the Murrieta Municipal Code is hereby amended in its entirety to read as follows:
“
TABLE 16.08-4

RESIDENTIAL (MULTI-FAMILY) ZONES

GENERAL DEVELOPMENT STANDARDS
Development Feature MF-1(5) MF-2 MF-3 MF-4
Minimum Parcel Size 5 acres 5 acres 5 acres 5 acres Minimum Parcel Width 100 feet 100 feet 100 feet 100 feet Density Range 10.1 - 15
du/acre

15.1 - 18.0
du/acre

18.1-29.0 du-
acre
Min. 30
du/acre
Minimum Livable Area 500 sq. ft. 500 sq. ft. 500 sq. ft. 500 sq. ft.

Setbacks
Street 10 feet 10 feet 10 feet 10 feet
Interior 10 feet 10 feet 10 feet 10 feet
Maximum Parcel Coverage 35% 35% 50% None
Maximum Height Limit 50 feet 50 feet 60 feet 100 feet Open Space (per dwelling unit)
Private Open Space 60 sq.
ft./upper floor
100 sq.
ft./ground
floor
60 sq.
ft./upper floor
100 sq.
ft./ground
floor
All units 50
sq. ft.(2)
All units 50
sq. ft.(2)
Common Open Space 200 sq. ft. 200 sq. ft. 150 sq. ft.(3) 150 sq. ft.(3) Recreational Amenities For projects
containing 25
or more
dwelling units,
provide one
recreational
amenity for
each 30
dwelling units
or fraction
thereof(4)
For projects
containing 25
or more
dwelling units,
provide one
recreational
amenity for
each 30
dwelling units
or fraction
thereof(4)
Minimum On-site
Landscaping 10% of the site area
Notes:

(1) When adjacent to existing single-family residential use or zone, the building setback from the nearest property line shall be 10 feet for the first 25 feet in height, above 25 feet in height the setback shall be 20 feet, and above 50 feet, the setback shall be 30 feet. (2) For stand-alone multi-family residential projects or as part of a mixed-use development, each residential unit shall be provided with at least one area of private open space accessible directly from the living area of the unit, in the form of a fenced yard or patio, a deck or balcony 93

at a minimum area of 50 square feet. The minimum dimension, width or depth of a balcony shall be 5 feet.
(3) All common open space shall be conveniently located and accessible to all dwelling units on the site. Common open space may include landscaping, pedestrian paths and recreational amenities. In projects containing fewer than 10 units, the common open space shall have a minimum width and depth of 10 feet. In projects containing 10 or more or units, the minimum width and depth shall be 20 feet.
(4) One common recreational amenity shall be provided for each 30 units or fraction thereof.

The following listed amenities satisfy the above recreational facilities requirements.

Recognizing that certain facilities serve more people than others, have a wider interest or appeal, and/or occupy more area, specified items may be counted as two amenities, as noted.

In all cases, each square foot of land area devoted to a recreational amenity shall be credited as common open space on a 1:1 basis.
a. Clubhouse (two)
b. Swimming Pool (two)
c. Tennis, Basketball or Racquetball court
d. Weightlifting facility
e. Children's playground equipment
f. Sauna or Jacuzzi
g. Day Care Facility (two)
h. Other recreational amenities deemed adequate by the director.

(5) For projects proposing a clustering configuration with detached single-family homes or within small attached unit configurations, please see 16.16.020 “Planned Residential Development General Standards” and 16.16.030 “Planned Residential Development Design Standards and Parameters” for requirements.
(6) For structures located within a Hillside Area, see maximum height criteria as provided within Section 16.24 (Hillside Development) and applicability. “

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Section 16.08.030(A)(5) (Single-family Residential Design Standards and Design Features) of the Murrieta Municipal Code is hereby amended in part to read as follows:

16.08.030 Single-family Residential Design Standards and Design Features. …

“5. Walls.
a. Standard: Walls shall be designed using masonry materials such as split face and slumpstone, with colors that complement the architectural design of adjacent buildings. b. Standard: Walls adjacent to streets shall run in a continuous plane for more than forty-eight (48) feet without incorporating at least two of the following design features:
1) A minimum two-foot change in plane for at least ten feet; 2) A minimum eighteen- (18-) inch raised planter for at least ten feet; 3) A minimum eighteen- (18-) inch change in height for at least ten feet; 4) Use of pilasters at forty-eight (48) foot intervals and at changes in wall planes and height; or
5) A section of open grillwork a minimum of four feet in height for at least ten feet. c. Standard: Refer to Section 16.22.070(F) (Retaining Walls) for retaining wall criteria.” …

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Section 16.08.040(D)(7) (Multi-family Residential Design Standards) of the Murrieta Municipal Code is hereby amended in part to read as follows:

16.08.040 Multi-family Residential Design Standards.
…
“7. Walls.
a. Standard. Walls shall be designed using masonry materials such as split face and slump stone, with colors that complement the architectural design of adjacent buildings. b. Standard: Walls adjacent to streets shall not run in a continuous plane for more than forty-eight (48) feet without incorporating at least two of the following design features:
1) A minimum two-foot change in plane for at least ten feet; 2) A minimum eighteen (18) inch raised planter for at least ten feet; 3) Use of pilasters at forty-eight (48) foot intervals and at changes in wall planes and height; or
4) A section of open grillwork a minimum of four feet in height for at least ten feet. c. Standard: Refer to Section 16.22.070(F) (Retaining Walls) for retaining wall criteria.”

…

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Section 16.18.080 (Height Measurement and Height Limit Exceptions) of the Murrieta Municipal Code is hereby amended in its entirety to read as follows:

“All structures shall meet the following standards relating to height, except for fences and walls, which shall comply with Chapter 16.22 (Fences, Hedges, and Walls).

A. Maximum Height. The height of structures shall not exceed the standard established by the applicable zoning district in Article II (Zoning Districts and Allowable Land Uses). or for structures within a Hillside Area under Section 16.24.020.A. In addition, the Mmaximum height for structures on a specific parcel shall be measured as follows: the vertical distance from finish grade to an imaginary plane located the allowed number of feet above and parallel to the finish grade.

FIGURE 3-1

HEIGHT MEASUREMENT

1. Establishing the high point and low point on the property as reference grade points as follows:
a. A measurement is taken from the lower of existing or proposed grade, 5 feet away from the lowest grade point around the structure , in accordance with Figure 16.18 -1. This point shall be the low reference grade point. The highest point anywhere on the structure may not exceed the elevation of that low grade point by more than the allowable height plus the grade differential between the low point of structure and high point of structure (excluding items as detailed under Section 16.18.080(B) (Exceptions to Height Limits)), but in such case where the actu al grade differential exceeds 10 feet, only a maximum of 10 feet may be added to the maximum allowable height per the zone. The measurement is the difference in elevation between the highest and the lowest adjacent ground elevation surrounding the building.

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FIGURE 16.18-1

MEASUREMENT LOCATIONS

b. If the difference in elevation is 10 feet or less, the reference grade point is established at the highest adjacent ground elevation. See Figure 16.18-2. If the difference in elevation is greater than 10 feet, the reference grade point is established at 10 feet above the lowest adjacent ground elevation. See Figure 16.18-3. For stepped or terraced buildings, the building height is the overall height as illustrated in Figures 16.18-4 and Figure 16.18-5.

FIGURES 16.18-2, -3, -4. -5

MEASUREMENT CRITERIA

c. For a project with a proposed pad configuration, the height of the structure is measured by the vertical distance from the finished grade to the height of the roof line. See Figure 16.18-6.

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FIGURE 16.18-6

MEASUREMENT WITH PAD CONFIGURATION

B. Structures on Sloping Parcels. Where the average slope of a parcel is greater than one foot rise or fall in 7 feet of distance from the street elevation at the property line, structure height shall be measured in compliance with Chapter 16.24 (Hillside Development).

CB. Exceptions to Height Limits. Exceptions to the height limits identified in this development code shall apply in the following manner:

1. Roof-mounted Features. Roof-mounted features including chimneys, cupolas, clock towers, elevator equipment rooms, equipment enclosures, and similar architectural features shall be allowed, up to a maximum of fifteen (15) feet above the allowed structure height. The total square footage of all structures above the heights allowed in the zoning districts shall not occupy more than twenty-five (25) percent of the total roof area of the structure.

Greater height or area coverage may be allowed subject to the approval of a minor conditional use permit in compliance with Chapter 16.52.

2. Parapet Walls. Fire or parapet walls may extend up to four feet above the allowable height limit of the structure.

3. Public Assembly, Hotels, Class "A" Office and Public Structures. Places of public assembly, including churches, schools, assembly halls, Class "A" office buildings greater than three (3) stories, hotels, and other similar structures may exceed the established height limit by one (1) foot for every two (2) feet that the minimum required front, rear, and side yard setbacks are increased. The increase in the front, rear, and side yard setbacks is determined by averaging the total of the increased building setbacks at the closest point on all sides. The maximum additional height allowed is thirty (30) feet above the height limit established for the applicable zoning district. This exception shall not apply when the site is adjacent to single- family zoned property. This exception may be used in conjunction with the height exception for rooftop equipment.

4. Telecommunications Facilities. Telecommunication facilities, including antennae, poles, towers, and necessary mechanical appurtenances, may be authorized to exceed the height limit established for the applicable zoning district, subject to the approval of a conditional use permit in compliance with Chapter 16.52.

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5. Basement. A basement is defined as a story that has its floor surface below the adjoining finished grade as both conditioned and unconditioned space per the California Building and Residential Codes.”

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Section 16.18.140(D)(4)(b) (Setback Regulations and Exceptions) of the Murrieta Municipal Code is hereby amended to read in part as follows:

16.18.140 – Setback Regulations and Exceptions
..

4. Setback Requirements for Specific Structures:
..
“b. Retaining Walls. (Retaining walls up to four feet in height are exempt.)Refer to Table 16.18-2 (Retaining Walls – Non-Hillside Areas) below:

1) Up to Six Feet. Retaining walls up to six feet in height may be located within a required set-back provided the exposed side of the wall faces into the subject parcel; and

2) Over Six Feet. Retaining walls greater than six feet in height, or where the exposed side of the wall faces out from the subject parcel without regard to height, shall be subject to the same requirements as the main structure in the applicable zoning district.

TABLE 16.18-2

RETAINING WALLS - NON-HILLSIDE AREAS
Criteria
Facing Outward Within Front or
Street-Side Setback
For residential, mixed-use
locations, commercial and
industrial, retaining walls within
a front yard or street-side
setback shall not exceed four
feet in height.

Facing Inward Retaining walls up to six feet in
height may be located within a
required setback provided the
exposed side of the wall faces
into the subject parcel and shall
incorporate landscaping to
screen the wall(s).

Line-of-Sight Locations/Visibility
Triangles
For any required line–of–sight
locations or visibility triangles, a
maximum of thirty inches in
height shall be permitted.

Six Feet or Greater - Retaining
Wall Facing Outward
Retaining walls six feet or
greater in height, shall be
subject to the same setback
requirements as the main
structure in the applicable
zoning district and shall
incorporate landscaping to
screen the wall(s).

Required Offset At twelve feet in height, a
retaining wall shall be separated
101

by a minimum of six feet
horizontally to accommodate
landscaping.

Design Criteria Refer to Section 16.22.070(F)
(Retaining Walls).

Retaining Wall(s) within Hillside
Areas
Refer to Table 16.24-2
(Retaining Walls – Designated
Hillside Areas)
“

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Section 16.22.030 (General Height Limitations), Table 3-3 (Maximum Height of Fences, Hedges, and Walls) of the Murrieta Municipal Code is hereby amended in its entirety to read as follows:

16.22.030 General Height Limitations.

“Fences, hedges, and walls may be erected/maintained to the heights shown in Table 3-316.22-

1. TABLE 3-3

MAXIMUM HEIGHT OF FENCES, HEDGES, AND WALLS

TABLE 16.22-1

MAXIMUM HEIGHT OF FENCES, HEDGES, AND WALLS

Location Maximum Height (within Setback Areas)
Rear and side yards (interior and street side) Six feet* Front yards Three feet*
At intersections of streets, alleys and
driveways within traffic safety sight areas.

Twenty-four (24) inches

* The director may approve additional height to enclose or screen areas.”

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Section 16.22.040 (Exceptions to Height Limitations) of the Murrieta Municipal Code is hereby amended in its entirety to read as follows:

“16.22.040 Exceptions to Height Limitations – Non-Retaining Walls.

A. Fences and walls otherwise limited to three feet in height, may be allowed up to five feet in height with see-through (e.g., wrought iron or grille work) fencing material;

B. Fences and walls otherwise limited to six feet in height, may be approved up to eight feet in height with see-through (e.g., wrought iron or grille work) fencing material; and

C. Fences and walls may be allowed up to ten feet when the required setbacks are maintained. Heights greater than ten feet may be allowed subject to approval of the director.”

104

Section 16.22.050 (Measurement of Fence or Wall Height) of the Murrieta Municipal Code is hereby amended in its entirety to read as follows:

“16.22.050 Measurement of Fence or Wall Height.

Where there is a difference in the ground level between two adjacent parcels of less than two feet, the height of a fence or wall constructed along the property line shall be determined by using the finish grade of the highest contiguous parcel. When there is a difference in the ground level between two adjacent parcels of two feet or more, the height of a fence or wall shall be determined by the director.”

105

Section 16.22.060 (Walls Required Between Different Zoning Districts) of the Murrieta Municipal Code is hereby amended in its entirety to read as follows:

“16.22.060 Walls Required Between Different Zoning Districts.

Walls shall be provided and maintained between different zoning districts as follows:

A. Where a nonresidential or multi-family zoning district abuts a residential zoning district, a solid masonry wall Cof six feet in height shall be constructed on the zone boundary line. Walls may be constructed higher than six feet if the viewshed is not impeded. This is and subject to the approval of the Ddirector. If retaining areas are proposed at these locations, please refer to the design standards as described under Section 16.22.070(F) (Retaining Walls);

B. Where a Business Park (BP), General Industrial (GI), or General Industrial-A (GIA) IG zoning district abuts another zoning district, a solid masonry wall six feet in height shall be constructed on the zone boundary line. This standard may be applicable at a project location within the Innovation District (INN) depending on the proposed site layout and pedestrian and vehicle access. Please see Section 16.13.030 (Innovation District Design Standards) for additional details and criteria;

C. Walls shall be of solid masonry construction and shall be of a decorative design when in view of public rights-of-way subject to approval of the director; and

D. The director may waive or modify requirements for walls between different zoning districts where a solid masonry wall already exists on the contiguous property if the following findings can be made:

1. The existing wall meets or can be modified to conform to the intent of this chapter;

2. Suitable landscaping can be installed adjacent to the existing wall to supplement and enhance the de-sireddesired physical separation;

3. The existing wall can be protected to prevent vehicle damage, if necessary; and

4. Concurrence of the adjacent property owner can be obtained, to modify the existing wall to meet the requirements of this chapter.”

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Section 16.22.070 (Special Wall and Fencing Requirements) of the Murrieta Municipal Code is hereby amended in its entirety to read as follows:

“16.22.070 Special Wall and Fencing Requirements.

A. Swimming Pools, Spas and Similar Features. Swimming pools, spas and other similar features shall be fenced in compliance with Chapter 15.48 (Swimming Pool Enclosures) of the municipal code.

B. Outdoor Equipment, Storage and Work Areas. Screening of outdoor uses and equipment and activities shall be provided in compliance with Section 16.18.120 (Screening and Buffering).

C. Temporary Fencing. Temporary fencing may be necessary to protect archaeological or historic resources and/or trees during site preparation and construction. Temporary fencing for these purposes shall be subject to the approval of the director.

D. Fence and Wall Design. Perimeter fences/walls adjoining public rights-of-way shall be articulated in compliance with subsection 16.08.030(A)(5)(b) (Walls). The design shall include an appropriate mix of materials and landscaping subject to the approval of the director.

E. Construction Fencing. Active construction sites shall be enclosed with a locked temporary construction fence or similar barrier to prevent ease of access into the site.

F. Retaining Walls.

1. Retaining walls may be allowed to reduce grading, preserve natural, features, or increase soil stabilization.

2. Crib walls, keystone, loffelstein walls, and other similar living wall systems are a design option as long as it can be demonstrated on the project plans that the walls are structurally acceptable and provisions are provided for acceptable landscaping. Such wall shall be subject to the following standards:

a. Utilization of a curvilinear slope pattern consistent with the appearance of the natural hillside terrain.

b. Planted with landscape material suitable for the climate and wall exposure relative to the sun.

c. The landscape aesthetic effect to be achieved by the overall development shall be emphasized and considered.

d. The color palette and materials selected for the retaining wall shall blend in with the adjacent hillsides and landscape plant palette.

3. Retaining Walls shall incorporate materials and colors used in adjacent structures. All materials used to construct the retaining wall(s) shall consist of native stone, poured-in-place concrete, precast concrete block, color treated, textured or veneered to blend in with the surrounding natural colors and textures of the existing landscape and native plant materials.

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4. Retaining Walls visible from the public right-of-way shall be designed to provide variation in placement, use of planters, differing materials, and modulation of the wall plane.

5. Retaining Walls shall follow landform grading shapes and contours.

6. Tubular steel or wrought-iron safety fencing may be necessary in conjunction with retaining wall locations. If necessary, these wall locations are to provide for landscape safety maintenance personnel. Construction shall be consistent with the California Building Code and related codes.

7. Refer to Table 16.18-1 (Retaining Walls) and 16.24-2 (Retaining Walls – Designated Hillside Areas) for additional criteria.”

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Chapter 16.24 (Hillside Development) is hereby amended in its entirety to read as follows:

“16.24.010 Purpose.

The purpose of this chapter is to provide regulations for the development of areas in the cityCity that, because of their topography, require special consideration to ensure that they are developed in a way that substantially maintains their natural character and environmental and aesthetic values to implement the City’s Ggeneral Pplan, and to provide for the safety, health, and welfare of the public by:

A. Providing guidelines and standards for development in visually sensitive hillside areasHillside Areas to minimize the ad-verseadverse impacts of gradinggrading and to promote the goals and objectives of the City’s Ggeneral Pplan;

B. Maintaining an environmental equilibrium consistent with existing vegetation, wildlife, soils, geology, slopesslopes, and drainage patterns, and to preserve natural topography and scenic character, including canyons, creeks, knolls, rock outcrops, and ridgelines whenever feasible;

C. Encouraging development proposals that feature water conservation and aquifer recharge techniques;

D. Encouraging development proposals that are sensitive to fire, flood, slide, erosionerosion, pollution, or other safety hazards;

E. Encouraging sensitive development through flexible design and innovative arrangement of building sites by utilizing variable lot sizes, clustering, and setback variations;

F. Utilizing nontraditional design standards for streets and hillside gradinggrading where development quality and public safety are not affected;

G. Encouraging developments that incorporate desirable existing features of land (e.g., natural vegetation, viewsheds, topographic features);

H. Protecting significant natural areas for ecologic purposes, educational, and other scientific study purposes; 1. Encouraging the use of drought-tolerant plant material to protect slopesslopes from soil erosionerosion and slippage, preserve natural watershed, minimize fire hazard, and minimize the scarring and deformation of the natural landscape;

IJ. Limiting the impact of cutcut slopesslopes on adjacent developed and undeveloped properties; and

JK. Providing for appropriate intensity of development (e.g., density, massing, etc.) in hillside areas through a variety of design techniques to ensure that development intensity decreases as slopesslopes become steeper (e.g., lot sizes appropriate for steeper topography and separation of structures sufficient to preserve thea viewshed).

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16.24.020 Applicability.

A. Hillside Area. The standards contained in this chapter apply to uses and structures within areas that have a slope of twenty (20) percent or greater and/or are designated on the significant features map on file with the department.

A. Location Consideration for Analysis. Notwithstanding any other provisions of this Code, the standards contained in this chapter apply to uses and structures within HIillside Areas that have a slope of twenty-five (25) percent or greater and as designated within the boundaries of a Hillside Overlay Map. Additionally, please refer to 16.02.020 (Exemptions from Land Use Permit Requirements), 16.24.080 (Exceptions) for activities and features exempt from review.

B. Basis for Slope Determinations. For the purpose of this chapter, slope shall be computed on the natural slope of the land before grading is commenced, as determined from a topographic map having a scale of not less than one inch equals one hundred (100) feet and a contour tour interval of not more than five feet. Slope determinations shall be based upon citywide contour data as provided on the City’s website under the Geographic Information System webpage under Interactive Mapping.

C. Development Plan Permit Required. Hillside developments shall be subject to the approval of a development plan permit in compliance with Chapter 16.56, unless exempt per adopted City policy or State Law (Example: Accessory Dwelling Unit).

D. The development standards, guidelines and provisions of this chapter shall be applied to those portions of land with a predominance of significant natural slopes exceeding twenty-five (25) percent and areas that are integrally contiguous or slopes determined as significant by the director. The provisions of this chapter shall apply to projects relating to subdivisions, permits, uses, structures, specific plans, master development plans, and associated site plans for development review except as specifically exempted by Section 16.02.020.

D. The development standards, guidelines, and provisions of this chapter shall be applied to those portions of land with a predominance of natural slopes exceeding twenty-five (25) percent or greater and areas that are integrally contiguous. The provisions of this chapter shall apply to projects relating to subdivisions, permits, uses, structures, specific plans, master development plans, and associated site plans for development review except as specifically exempted by Section 16.02.020 (Exemptions from Land Use Permit Requirements), and 16.24.080 (Exceptions).

16.24.030 Definitions.

For the purposes of this chapter the following definitions shall apply:

City. The City of Murrieta, state of California, referred to in this development code as the “City.”

City Engineer. The dDirector of Public Works/City Engineer of the city or their duly delegated representative.

City Manager. The official employed by an elected council to direct the administration of the City. See Chapter 2.08 “City Manager”

Clearing. The removal of vegetation (grass, brush, trees, and similar plant types) by hand or mechanical means (e.g. brushing, and/or grubbing).

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Cluster Development. A concept where structures are grouped on certain portions of a site, frequently of different shapes and sizes, surrounded by large expanses of open space.

Contour. A line drawn on a plan that connects points of equal elevation.

Cut. The mechanical removal of earth material.An act by which soil, sand, gravel, or rock is cut into, dug, quarried, uncovered, removed, or relocated, and shall include the conditions resulting therefrom.

Daylight Line. The line between the finished grade and natural terrain drawn by connecting points where pro-posed contours meet existing contours.

Director. See Section 16.46.050 “Director.”

Elevation. Height or distance above mean sea level.

Erosion. The process by which the soil and rock components of the earth's crust are worn away and removed from one place to another by natural forces (e.g., as wind, and water)

Fill. A deposit of earth material placed by artificial means.deposit of soil, sand, gravel, rock, or other material placed by artificial means.

Finished Grade. The final elevation of the ground surface after development, that is in conformance with the approved plans.

Grading. To bring an existing surface to a designed form by excavating, filling, or landforming operations in excess of fifty (50) cubic yards.

Contour Grading. A grading concept designed to result in earth formsshaping that resembles natural terrain characteristics. Horizontal and vertical curve variations are often used for slope banks.

Conventional Grading. A grading concept that results in simple, straight forward, cut and fill lines and even planed slopesslopes. This is the most basic type of grading often resulting in an "engineered or man-made" appearance attributable to a lack of curvilinear or natural-appearing shapes.

Landform Grading. A grading method that replicates the irregular shapes of the natural slopesground surface. Landform graded slopesland surfaces are characterized by continuous series of concave and convex forms interspersed with mounds that blend into profiles, 111

nonlinearity in plan view, varying slope gradients, and significant transition zones, between man-made and natural slopesland surfaces.

Hillside Area. Land with an average rise or fall of twenty-five (25) percent or greater or a vertical rise of thirty (30) feet or moreMeans those areas specifically designated on a Hillside Overlay Map as adopted by the City Council under Section 16.24.100.

Mass Grading. The movement of large quantities of earth over large areas. Disruption of the majority of the on-site surface terrain resulting in a successive pad/terrace configuration.

Modification or elimination of natural landforms may result.

Minimal Grading. A grading concept designed to minimize excavation and filling. Allows the movement of earth for projects (e.g., as individual building foundations, driveways, local roads, and utility excavation). The concept is associated with roads conforming closely to natural contours and with structures being built on natural terrain.

Pad. A level area created by grading to accommodate development.

Prominent Ridge. A ridge or hill location that is visible from Interstate 15, Interstate 215, or from an arterial or secondary street, that forms part of the skyline or is seen as a distinct edge against a backdrop of land.

Ridge. An extended, narrow, conspicuous elevation of land generally between valleys.

Slope. An inclined ground surface, the inclination of which is expressed as a ratio of the vertical distance (rise), or change in elevation, to the horizontal distance (run). The percent of a given slope is determined by dividing the rise by the run, multiplied by one hundred (100).

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Slope, Average. The method of determining average natural slope of land using the following equation:

I x L x .0023 where
A
I = Contour interval in feet.

L = Combined length in feet of contour lines measured on the project site. .0023 = A constant that converts square feet into acres and expresses slope in percent.

A = Project site area in acres.

Slope, Man-made. A manufactured slope consisting wholly or partially of either cut or filled material. Slope, Natural. A slope that is not man-made.

Slope, Significant Natural. A slope that is not man-made that exceeds twenty-five (25) percent and a vertical rise of thirty (30) feet or more.

Slope Ratio. The relationship of a slope's horizontal length to vertical height, with the height specified as one (e.g. 2:1).

Slope Transition. The area where a slope plane changes to meet the natural terrain or a level graded area either vertically or horizontally.

16.24.040 Application Submittal Requirements.

Applications for development within the hillside overlay zoning district shall comply with the submittal requirements of this chapter. When a development project is a specific plan or master development plan, the submittal requirements shall be incorporated in the appropriate sections 113

of the corresponding documents. If adequate detailed studies are provided with the specific plan and/or master development plan, subsequent implementing development applications shall be reviewed for substantial conformance with these plans.

Application filing requirements are as follows:

A. A Natural Features Map. This map shall identify slope banks, ridgelines, canyons, natural drainage courses, United States Geological Survey (U.S.G.S.) blueline streams, rock outcroppings, sensitive bioticbiological habitats, cultural resources, and other natural features for the purposes of project review and California Environmental Quality Act (CEQA) analysis determined to be worthy of consideration for preservation.

B. A Conceptual Grading Plan. A conceptual grading plan shall be submitted at a minimum scale of one inch to two hundred (200) feet (this scale may be adjusted with the approval of the department). The plan shall include the following items:

1. A legend with appropriate symbols indicating high point, low point, spot elevations, pad and finished floor elevations, top of wall, top of curb, change in direction of drainage, and planned drainage improvements;

2. A separate map with proposed fill areas and cut areas, depths of these areas clearly shown in five-foot topographic lines. Quantities of each cut and fill area shall be clearly marked and calculated as a percentage of the total site area. The fill and cut areas shall be either colored green and red, respectively, cross-hatched, or screened to delineate the separate areas;

3. Contours for existing and proposed land conditions. Existing contours shall be depicted with a dashed line with every fifth contour darker, and proposed contours shall be depicted as above except with a solid line. Contours shall be shown at minimum intervals of five feet of change in elevation, with two-foot contours in the flatter areas (if using Riverside County flood control district topographic maps, a four-foot interval may be used); and

4. Additional information as required to assist department review of the project.

B. Overall Conceptual Grading Plan. An overall conceptual grading plan shall be submitted at a minimum scale of one (1) inch equals twenty (20) feet). The plan shall include the following items:

1. A legend with symbols identifying the following, but not limited to: high point, low point, spot elevations, pad, top of wall, top of footing, top of curb, top of ground surface on both sides of a retaining wall, and planned drainage improvements;

2. A separate map shall be provided with proposed cut and fill areas, depths of these identified areas shown in five-foot topographic lines. Quantities of each cut and fill area shall be identified and calculated as a percentage of the total site area. The cut and fill areas shall be either colored green and red, cross-hatched, or screened to delineate each respective area;

3. Contours for existing and proposed topographic conditions shall be provided within submitted plan exhibits. Existing contours shall be depicted with continuous screened lines and proposed contours shall be depicted as above except with a solid line. Contours shall be shown at minimum intervals of two feet of change in elevation. Elevations of less than two feet shall be depicted with spot elevations; and

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4. Additional information as required to assist with review of the project.

C. Drainage Map. A conceptual drainage and flood control facilities map describing planned drainage improvements. The map shall utilize cityCity standards or an acceptable alternate as determined by the city engineerCity Engineer or their designee.

D. Slope Analysis Map. A slope analysis map for the purpose of determining the quantity amount and location of land as it exists in its natural state and for calculating average slope categories. A base topographical map forof the site shall be prepared and shall have a scale of not less than one inch to onetwo hundred (100200) feet. The base topographical map shall include adjoining properties within one hundred (100) feet of the site boundaries to portray the site's context. Slope bands in contrasting colors shall be delineated in the range of zero to twenty-five (0—25) percent, twenty-six to fifty (26—50) percent, and fifty (50) percent or greater.

A tabulation of the land area by slope percentage shall also be provided.

The exact method for computing the percent slope and area of each slope category shall be sufficiently de-scribed and presented so that a review can be readily made. A heavy solid line indicating the twenty-five (25) percent grade differential shall be clearly marked on the plan. An eight and one-half by eleven (8 1/2 x 11) inch legible acetate reduction of the slope analysis with appropriate legend shall also be provided.

DE. Slope Profile Drawings. A sufficient number of slope profiles shall be provided to clearly illustrate the ex-tent of the proposed grading. A minimum of four cCross-section slope profiles shall be included with the slope analysis. Additional profiles may be required as determined by the city engineerCity Engineer or their designee. The slope profiles shall:

1. Be drawn at the same scale and indexed, or keyed, to the slope analysis map, grading grading plan, and project site map. Both vertical and horizontal scales shall be indicated;

2. Show existing and proposed topography, structures, and infrastructure. Proposed topography, structures, and infrastructures shall be drawn with a thin, solid line. Existing topography and features shall be drawn with a dashed line;

3. Extend at a minimum of least one hundred (100) feet outside the project site boundary to clearly show the impact on adjacent property. Additional distance may be necessary to determine off-site terrain and features;

4. Be drawn along those portions of the subject site where:

a. The greatest portion of the site where alteration of existing topography is proposed;

b. The most intensive or massive development portion of the site where development is proposed (e.g. where structures are proposed);

c. The site is most visible from surrounding land uses; and

cd. Where proposed gradinggrading willwould potentially impact existing natural drainage conditions.

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5. At least two of the slope profiles shall be roughly parallel to each other and roughly perpendicular to existing contourcontour lines. At least one other slope profile shall be roughly at a ninety (90) degree angle to the other slope profiles and existing contour lines.

F. Indicate Source of Data. Both the slope analysis and slope profiles shall Iindicate the datum, source, data, and scale of topographic data used in the slope analysis and slope profiles.

G. Geotechnical Report. A geotechnical and soils report, shall be prepared by a registered geotechnical engineer to cityCity standards and provide in sufficient detail to substantiate and support the design concepts presented in the application as submitted. Additional environmental technical studies and investigations, including, but not limited to, hydrologic, seismic, access/circulation, cultural, tribal cultural, and biota researchbiological resources may also be required to help in the determination of the buildable area of a subject site for consistency with project review and for California Environmental Quality Act (CEQA) analysis.

H. Objective Design Guidelines. Objective Ddesign guidelines shall be provided for projects that are to be reviewed by the Planning Ccommission. Otherwise, illustrative building elevationselevations showing all sides of the structure shall be provided.

I. No Grading Proposed. In the event that no grading is proposed, (e.g., custom lot subdivision) a statement to that effect shall be filed with a plan that shows possible future house plotting, pad grading, driveway de-sign, and septic system location for each parcel proposed.

The plan shall be prepared on a topographic map drawn at a scale of one inch to two hundred (200) feet.See 16.24.080 (Exceptions) for applicability.

J. Additional Information. The following items may be required if determined necessary by the directorCity Engineer or their designee to aid in the analysis of the proposed project:

1. A line of sight or view analysis;

2. Photographic and/or computer generated graphic renderings;

3. A topographic model and/or large scale detailed partial model; or

4. Other illustrative techniques determined necessary to aid in review of the project.

K. Exceptions to the filing requirements shall be determined by the director.

16.24.050 Project Review Procedures.

Projects within designated hillside areas shall be subject to review and approval by the director or the commission in compliance with the provisions of this chapter.

A. Director Approval. The director shall approve, approve with conditions, or deny development proposal applications when the following conditions apply:

1. Development plan permits;

2. Extensions of time; or

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3. Building permit reviews.

B. Commission Approval. The commission shall approve, approve with conditions, or deny development proposal applications when one or more of the following conditions apply:

1. When padded building sites are proposed; or

2. Proposals referred to the commission by the director.

C. Modification of Requirements. The commission may modify or waive a development standard:

when an improved or more sensitive design will result. Further, where it can be demonstrated that imposing hillside development standards would either render a parcel unbuildable and create a loss of its reasonable economic use, or place an undue restriction on the improvement of the property, development consistent with the general plan shall be allowed subject to approval by the commission, if the following findings can be made:

a. The site is physically suitable for the design and siting of the proposed development.

The proposed development will result in minimum disturbance of environmentally sensitive areas;

b. The grading proposed in connection with the development will not result in soil erosion, silting of lower slopes, flooding, severe scarring or other geological instability or fire hazard that would affect health, safety and general welfare as determined by the city engineer;

c. The proposed development retains the visual quality of the site, the aesthetic qualities of the area and the neighborhood characteristics by utilizing proper structural scale and character, varied architectural treatments, and appropriate plant materials; and

d. The proposed development is in conformance with the qualitative development standards and guidelines as established in this chapter and is conformance with the goals, objectives and policies of the general plan.

1. When an improved or more environmentally sensitive design would result. Further, where it can be demonstrated that imposing the objective hillside development standards would either render a parcel unbuildable and create a loss of its reasonable economic use, or place an undue restriction on the improvement of the property, development consistent with the City’s General Plan shall be allowed subject to approval by the Planning Commission, if the following findings can be made:

a. The site is physically suitable for the design and siting of the proposed development.

The proposed development will result in minimum disturbance of environmentally sensitive areas;

b. The grading in connection with the development would not result in soil erosion, silting of lower slopes, flooding, severe scarring, create other geological instability conditions, or a fire hazard condition that would affect the public’s health, safety and general welfare for the City, as determined by the City Engineer. 117

16.24.060 Hillside Development Standards.

The following are minimum standards and shall apply to a use, development, or alteration of land in compliance with Section 16.24.020 (Applicability). These standards are supplemented by the provisions of the development guidelines contained in Section 16.24.070 (Hillside Development Guidelines) of this chapter.

A. Hillside Slope Categories. The following descriptionscategories serve as general standardsguidelines for determining the applicability of hillside slopeconditions at a subject site categories to ensure that development will compliment the overall character of the landform.

TABLE 16.24-1

HILLSIDE DEVELOPMENT STANDARDS

% Natural
Slope
Category
Standards
Up toUnder
25%
This is not considered a hillside condition.

Over 25%
up tobut
less than
50%
This is a hillside condition. Development within this slope category is limited to the less visually prominent slopesslopes of a subject site, and then only where it can be showndemonstrated that gradinggrading, vegetation removal, safety, and environmental and aesthetic, and other environmental impacts arecan be minimized.

Potential Iimpacts of from site access and roadways shall be minimized by following natural contourscontours or using grade separations. Proposed Sstructures shall blend with the natural landform through their shape, material, and utilization of natural occurring color(s). Special hillside architectural and design techniques are required, which may include the use of larger lots, variable setbacks, and variable building structural techniques and clustering. Padded building sites may be considered in some instances. Where this occurs, the commission may consider padded building sites adjacent to special features when it is found that grading of padded building sites will create a better relationship between the special feature(s) and the building sites. 50% and
over(1)
This is an excessive slope condition and development is prohibited. (1) This applies to the property as a whole.

B. Site Design.

1. Projects located in hillside areas shall incorporate clustering, variable setbacks, multiple orientations, and other site planning techniques to preserve open spaces, protect natural features, and offer views to residents.
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2. When clustering techniques are usedutilized, the minimum lot sizes may be decreased to five thousand (5,000) square feet when it is necessary to preserve sensitive lands (e.g., hillsides, creeks, habitat areas, etc.). Lots may be allowed smaller than five thousand (5,000) square feet, but not smaller than four thousand (4,000) square feet, for up to twenty (20) percent of the total approved lots and only under an approved specific plan when absolutely necessary to preserve sensitive and hillside areasHillside Areas. Lots under five thou-sandthousand (5,000) square feet are prohibited in slope areas of twenty-five (25) percent or greater.

C. Driveways and Roadways.

1. Driveways shall be designed in a manner as to when a vehicle is entering a public/and /or private streets, maintaining adequate sight distance shall be maintained as determined by the city engineerCity Engineer or their designee.

2. Driveways shall not be located within three feet of a side property line. Exceptions to this standard may be considered based on lot size, percentage of slope, appropriate drainage facilities and use as a common (joint) driveway by the City Engineer or their designee.

3. Only slopesslopes less than fifty (50) percent (2:1) shall be allowedpermitted adjacent to driveways.

4. Driveway grades above fifteen (15) percent may only be considered by the City Engineer or their designee when driveways are aligned with the natural contourscontours of the land, and are necessary to achieve effective site design, and safety considerations are met to the satisfaction of the building and safety official, city engineer, and the fire departmentbuilding and safety official, City Engineer, or designee, and fire code official. Proper dDesign considerations shall be employed, including the use of vertical curves. On proposed driveways that may be approved with a slope greater than fifteen (15) percent, a coarse, all-weather paving material (e.g. asphalt or concrete), or grooves for traction, shall be incorporated into the designconstruction.

5. Roadways shall conform to the natural landform. Significant alterations to the physical and visual character of a hillside shall be avoided by eliminating large notches in ridgelines and wide straight alignments. Modified or reduced widthreduced-width road sections and split sections shall be considered in the layout of hillside streets to reduce gradinggrading and cutscuts in topography while allowing access for fire trucks and other emergency vehicles. 119

120

FIGURE 16.24-1

ROADWAY PLACEMENT

6. Where road construction is proposed in hillside areas, the standards shall be consistent with those identified for high fire hazard areas, the California Fire Code, and with City design standards.

7. The extent of vegetation and visual disruption shall be minimized by the combined use of retaining structures and regrading to approximate natural slopesslopes. The view along a street frontage shall be screened with landscaping and the maintenance of views shall be preserved as demonstrated on the project plans. shall provide a pleasant appearance with a sense of open space and landscaping. The use of terraced walls and landscaping to reduce grading impact associated with retaining walls is a recommended design technique to address this visual impactencouraged.

8. Wet utilities shall be placed in the road right-of-way, where feasible, and approved by the reviewing agency.

9. AppropriateScaled roadway drainage facilities and grades shall be provided consistent with City design standards.

D. Architecture.

1. The building envelope for primary structures, except for padded building sites,The maximum structure height shall be thirty (30) feet. Refer to Section 16.18.080.A (Maximum Height) for additional criteria on how to calculate the maximum height for a sloped parcel.as follows:

a. Downhill Lot. The maximum structure height shall be thirty (30) feet, measured from finished grade at the front setback line extending towards the rear of the lot. The maximum 121

height at the side setbacks shall be fifteen (15) feet extending up toward the center of the lot at a forty-five (45) degree angle to a maximum height of thirty (30) feet as measured from finished grade.

FIGURE 3-4

BUILDING ENVELOPE FOR DOWNHILL LOT

b. Uphill Lot. The maximum structure height shall be fifteen (15) feet, measured from finished grade at the front setback line extending up towards the rear of the lot at a forty-five- (45-) degree angle to a maxi-mum height of thirty (30) feet. The maximum height at the side setbacks shall be fifteen (15) feet extending up towards the center of the lot at a forty-five- (45-) degree angle to a maximum height of thirty (30) feet as measured from finished grade.

FIGURE 3-5

BUILDING ENVELOPE FOR UPHILL LOT

c. Cross Slope Lot. The maximum structure height shall be thirty (30) feet, measured from finished grade at the maximum front setback line extending towards the rear of the lot. The maximum height at the side setbacks shall be fifteen (15) feet extending up towards the center of the lot at a forty-five-(45-) degree angle to a maximum of thirty (30) feet as measured from finished grade.
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FIGURE 3-6

BUILDING ENVELOPE FOR CROSS LOT SLOPE

ad. Architectural Projections Allowed. Architectural projections and variations in roof design are encouraged. Projections above the maximum height limits for architectural features may be allowed subject to approval by the directorDirector.

2. In steeper terrain, Rreduction of front yard setbacks may be considered in order to minimize rear yard grading.

3. Architectural treatments shall be provided on all sides of a structure. Elements of the architectural treatment used on the front facade shall be repeated on all sides of a structure with additional emphasis on those elevations visible from public rights-of-way.

43. Building materials and color schemes shall blend with the natural landscape. Colors shall be of earth tones and the value (lightness or darkness) of the specific hue shall be as close to that of the immediately surrounding landscape as possible as demonstrated on the project plans. Where exterior stucco is used, it shall have a final coat of integrated color in a muted earth tone. Contrasting color accents shall be kept to a minimum.

54. Treated wood or materials of a wood-like appearance, having the necessary fire retardant characteristics. are a design optionencouraged for exterior surfaces. Use of other natural materials (e.g., river rock) is also strongly encourageda design option as well. The reflectivity of exposed surfaces (walls, roofs, windows, frames, and paved surfaces) shall be mitigated bywith the incorporation of overhangs, trellises, planting, and similar features.

65. Exterior lighting shall be located and shielded so as to not impact adjacent property owners in terms of glare and privacy in compliance with Section 16.18.100 (Lighting).

E. Walls and Fences.

TABLE 16.24-2
RETAINING WALLS – DESIGNATED HILLSIDE OVERLAY
AREAS
Criteria
Up to Three Feet Within Front or
Street-Side Setback
Walls within the required front
yard or street-side setback shall
not exceed three feet in height,
shall be separated by a
minimum of three feet, and shall
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incorporate landscaping to
screen the wall(s).

Line-of-Sight Locations/Visibility
Triangles
For any required line–of–sight
locations, or visibility triangles, a
maximum of thirty inches in
height shall be permitted.

Up to Six Feet. Where multiple terraced
retaining walls are designed to
retain larger slopes, they shall
not exceed six feet in height.

Refer to Figure 16.24-2.

Over Six Feet Prohibited
Over Six Feet and as Part of the
Structure.

Walls that are an integral part of
the primary structure may
exceed six feet in height;
however, their visual impact
shall be mitigated through
contour grading and landscape
treatment. Refer to Figure

16.24-3.

Required Offset At six feet in height, a retaining
wall shall be separated by a
minimum of six feet horizontally.

Refer to Figure 16.24-2.

Design Criteria Refer to Section 16.22.070.F
(Retaining Walls).

1. Retaining walls, not exceeding six feet in height, may be allowed to reduce grading, preserve natural features, or increase soil stabilization. Within the required front yard setback, individual retaining walls shall not exceed three feet in height.

2. Where multiple (terraced) walls are designed to retain larger slopes they shall not exceed six feet in height and shall be separated by a minimum of six feet horizontally. A maximum of two walls shall be placed together. Walls within the required front yard setback shall not exceed three feet in height and shall be separated by a minimum of three feet and shall incorporate landscaping to screen the wall(s).
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FIGURE 3-716.24-2

HEIGHT OF RETAINING WALLS

3. Walls that are an integral part of the primary structure may exceed six feet in height; however, their visual impact shall be mitigated through contour grading and landscape treatment.
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FIGURE 3-816.24-3

RETAINING WALL AS PART OF PRIMARY STRUCTURE

41. Refer to Section 16.22.070.F (Retaining Walls) for additional criteria.Crib walls may be approved on a case by case basis if it can be demonstrated that excessive height is not being created and provisions for extensive landscaping are incorporated.

5. Walls and fences shall incorporate materials and colors used in an adjacent structures.

Naturally occur-ring materials (e.g., river rock, flagstone, etc.) shall be used whenever possible.

6. Walls and fencing visible from the public right-of-way shall be designed to incorporate visual interest through variation in placement, use of planters, differing materials, and modulation of the wall plane.

7. Walls and fences shall follow landform grading shapes and contours.

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FE. Landscaping. Revegetation in hillside areas shall reflect the visual patterns found naturally in local canyons and valleys. The landscaping as viewed from urban areas and arterial roadway system shall mask and screen man-made structures.

1 . Indigenous, or naturalized plants that blend naturally with the landscape shall be utilized in areas where planting is required. Plant selection shall be deep-rooted, drought tolerant, and fire resistive.

2. Natural landform planting shall be used to soften manufactured slopes, reduce the impact of development on steep slopes or ridgelines. and provide erosion control. These landscape techniques shall serve to reintroduce landscape patterns that occur naturally in the hillsides.
127

128

FIGURE 16.24-4

NATURAL LANDFORM PLANTING

3. A "vegetative backdrop" shall be maintained by replanting with native trees or the same vegetation that was removed. The vegetation should screen structures to the extent possible at maturity and preserve the appearance of the natural skyline.

3. A “vegetative backdrop” shall be maintained by replanting the site with native trees and/or providing the same vegetation that was removed consistent with City landscaping standards. As demonstrated on the project plans, the proposed vegetation shall be sized and spaced appropriately to screen structures for growth of the species at maturity and to preserve the appearance of the natural skyline.

4. The surface of graded or disturbed slopes with three feet or greater vertical height shall be protected against damage by erosion through the planting of deep rooted ground cover as demonstrated on the project plans. Slopes exceeding eight feet in vertical height shall be planted with ground cover and a combination ofof shrubs and trees that have a high "root-to- shoot" ratio. The size of shrubs and trees shall be determined based on the individual project area as deemed appropriate by the department and/or Planning Ccommission.

5. Jute mesh or an equivalent shall be required when planting occurs between August fifteenth and April fifteenth, and when determined, as necessary, by a soils engineer and/or licensed landscape architect. Jute mesh shall be used in combination with required plantings as outlined in the slope landscaping guidelines available on the City of Murrieta’s website for optimal long-term slope stabilization.

6. Indigenous, native vegetation shall be retained and supplemented within canyons and along natural drainage courses where grading does not occur, provided that it conforms with fuel modification and tire prevention plans.

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7. Common open areas and front and side yards adjacent to a street shall be adequately landscaped and irrigated. The areas shall be provided with native plant materials that blend with the natural character of the surrounding landscape.

7. Common open space areas, front, and side yards adjacent to a street shall be landscaped and irrigated consistent with City landscaping and fire protection standards. These areas shall be provided with native plant materials that blend with the natural character of the surrounding landscape.

8. In order to protect slopes from soil erosion and slippage and to facilitate revegetation, an automatic irrigation system shall be installed on slopes with planting. Design and operation of the irrigation system shall respect the special conditions that exist in hillside situations specific to maintaining slope stabilization and integrity. In all cases, the emphasis shall be toward using plant materials that may eventually not need to be irrigated: therefore, temporary irrigation systems may be used as approved by the city's landscape architect and city engineer. Water and energy conservation techniques shall be utilized (e.g., drip irrigation, alluvial rockscape, etc.) Where irrigation systems are installed above ground, ultraviolet light resistant. brown line or other approved color, shall be used.

8. In order to protect slopes from soil erosion and failure, and to facilitate revegetation, and automatic irrigation system shall be installed on slopes with planting. Design and operation of the irrigation system shall respect the special conditions that exist in hillside situations specific to maintaining slope stabilization and integrity. In all cases, the emphasis shall be toward using plant materials that may eventually not need to be irrigated; therefore, temporary irrigation systems may be used as approved by the City’s landscape architect and City Engineer. Water and energy conservation techniques shall be utilized (e.g. drip irrigation, alluvial rockscape, etc.). Where irrigation systems are installed above ground, ultraviolet light resistant brown line, or other approved color, shall be used.

9. A permanent fuel modification area shall be required around development projects that are adjacent or exposed to hazardous fire areas for the purpose of fire protection. The fuel modification area shall be maintained by its owners, a homeowners' association, or other public nonprofit agency or conveyed in a public easement. Adequate provisions shall be made for the continual maintenance of these areas and the fire chief may require brush, vegetation, or debris to be removed and cleared consistent with the provisions of Chapter 8.32 of the municipal code.

Where feasible, fuel modification areas shall be designated as common open space rather than private open space. The recommended width of the fuel modification area shall be based on applicable building and fire codes and the recommendations of the fire chief with consideration given to:

a. A worst-case Santa Ana wind condition;

b. The natural ungraded slope of the land within the project and in the areas adjacent to the project;

c. Fuel loading:

d. Access to the project by fire suppression equipment. and access directly to the fuel modified area, and egress out of the project in case of evacuation;

e. The on-site availability of water that can be used for fire fighting purposes with regard to fire flows, water pressure, and duration:

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f. "Built-in" fire protection within structures (i.e., sprinklers etc.);

g. Soil erosion and sediment control measures; and

h. The fire department fuel modification policy document.

10. Fuel modification areas shall also incorporate soil erosion and sediment control measures to alleviate permanent scarring and accelerated erosion.

9. A permanent fuel modification area shall be required around projects that are located within high or very-high fire severity zone, adjacent to a high or very-high fire severity zone, or exposed to hazardous fire areas for the purpose of fire protection. The fuel modification area shall be maintained by its owners, a homeowners' association, or other public nonprofit agency, or conveyed within a public easement. Adequate provisions shall be made for the continual maintenance of these areas and the fire code official may require brush, vegetation, combustible item(s), or debris to be removed, cleared, and maintained, consistent with the provisions of Chapter 8.32 of the Municipal Code. Where feasible, fuel modification areas shall be designated as common open space rather than private open space. The recommended width of the fuel modification area shall be based on applicable building and fire codes and the recommendations of the fire code official with consideration given to:

a. A worst-case Santa Ana wind condition;

b. The natural ungraded slope of the land within the project and in the areas adjacent to the project;

c. Fuel load;

d. All weather access to the project by fire suppression equipment and personnel, access directly to the fuel modified area, and egress out of the project area in case of evacuation;

e. The on-site availability of water that can be used for firefighting purposes with regard to fire flows, water pressure, and duration;

f. "Built-in" fire protection within structures (i.e., sprinklers etc.);

g. Soil erosion and sediment control measures;

h. The fire department fuel modification policy and the Wild Urban Interface Undesirable Plants & Trees list;

i. Fuel modification zones for landscaping as outlined by the California Department of Forestry and Fire Protection.

10. Fuel modification areas shall also incorporate soil erosion and sediment control measures to alleviate permanent scarring and accelerated erosion.

G. Grading.

1. GradingGrading shall not take place on natural slopesslopes that exceed fifty (50) percent.

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2. Slopes created by grading of the site shall not exceed fifty (50) percent or 2:1, without a soils report and stabilization study indicating a greater permissible slope. Slopes shall not exceed thirty (30) feet in height between terraces or benches, except that the commission may permit slopes exceeding these dimensions where the slopes will result in a natural appearance and will not create geological or erosion hazards. The soils report and stabilization study will be subject to third party review prior to approval by the city. Refer to the hillside development guidelines (16.24.070) for methods to accomplish this standard.

2. Slopes created by grading of the site shall not exceed fifty (50) percent or 2:1. Slopes exceeding 2:1 but less than or equal to 1.5:1 may be considered upon additional analysis by a licensed geotechnical engineer. Slopes shall not exceed thirty (30) feet in height between terraces or benches, except that the Planning Commission may permit slopes exceeding these dimensions where the slopes will result in a natural appearance and will not create geological or erosion hazards. The soils report and stabilization study shall be subject to third-party review prior to approval by the City.

3. Structures shall not visually impair ridgeline silhouettes. Structures are not permitted closer to a prominent ridge than fifty (50) feet measured vertically on a cross-section or one hundred fifty (150) feet horizontally on a topographic map. whichever is more restrictive.

Exceptions to this requirement for public facilities. utilities. and infrastructure necessary to serve the public health, safety, and welfare may be considered by the commission.

3. In order to help address visual impacts at Prominent Ridge(s), the use of the combination of naturally occurring vegetation (trees/shrubs) and proposed landscaping shall be implemented to screen proposed structures at these locations. Additionally, any required Fuel Modification Zone and California Fire Code standards shall be considered in the design of this screening method blending with the terrain and existing vegetation.

4. ClearingClearing and/or grubbing, excavation, orand other earth disturbances shall not be permittedinitiated on hillside areashillside areas prior to the issuance of a gradinggrading permit,. with the exception of county/state authorized soils remediation operations, drill holes, and exploratory trenches for the collection of geologic and soil data or for weed abatement activities. Trenches are to be properly backfilled and in addition, erosionerosion treatment provided where slopesslopes exceed twenty-five (25) percent.

5. Manufactured cutcut and fillfill slopesslopes exceeding ten feet in height which willwould be either exposed to public view, or are adjacent to environmentally sensitive areas, shall be landformlandform or contourcontour graded, where physically feasible, so that their ultimate appearance will resemble a natural slope. This will include slopesslopes alongadjacent to streets and highways, slopesslopes, adjacent to parks, schools, open spaces, and other public facilities and other prominent slopesslopes. Refer to the hillside development guidelines (16.24.070) for methods to accomplish this standard.

6. LandformLandform gradinggrading shall be used where zero to twenty-five (0-25) percent (non-hillside) slopesslopes intersect with twenty-five to fifty (25-50) percent (hillside) slopesslopes. Proper transitioning from manufactured slopesslopes created by conventionalconventional gradinggrading methods to natural slopesslopes shall be achieved gradually and naturally through the use of radii or irregular curvilinear shapes that will blend into the adjoining topography tangentially and not create abrupt changes.

7. FillFill slopesslopes shall not be placed perpendicularly across a canyon. Straight line cutcut ofF fillof fill slopesslopes shall not be made to appear like a dam. The terminus of the fillfill shall, instead, be concave in shape to restore the can-yoncanyon appearance. This 132

concave configuration shall be in combination with the use of substantially flatter slope ratiosslope ratios (4:1, 3.5:1, 3: I ) at or near the center of this indentation. Symmetrical or unsymmetrical con-cave configurations shall be used depending upon the adjoining or underlying topographic characteristics.

8. Minimal radius rounding at the edges of cutcut and fillfill slopesslopes is not an acceptable method. Proper Ttransitioning from manufactured slopesslopes to natural slopesslopes shall be achieved gradually and naturally through the use of radii or irregular curvilinear shapes that will blend into the adjoining topography tangentially and not create abrupt changes.

9. In the planning, design, and development of public utilities and infrastructure, every reasonable effort as demonstrated shall be made to minimize gradinggrading impacts and incorporates a design that follows harmonize with the natural contourscontours and character of the land.

10. Side yard slopesslopes and low (less than twenty (20) feet in height) rear yard slopesslopes (less than twenty (20) feet in height) whose view is blocked by future structures need not have landform design applied.

11. GradingGrading shall be phased so that prompt revegetation or construction will control erosionerosion. Where possible,. only those areas that will be built on, resurfaced, or landscaped shall be disturbed. Top soil shall be stockpiled during the rough gradinggrading phase and usedutilized on padspads or revegetated habitat areas, upon the recommendation of the soils engineer. Refer to the hillside development guidelines for methods to accomplish this standard.

12. Applicable requirements of the cityCity and state shall be complied with in conjunction with athe latest National Pollution Discharge Elimination System (NPDES) permit prior to the issuance of a gradinggrading permit., whichThis may include, but is not limited to, an Grading Plan, and ErosionErosion Control Plan, Best Management Plan (including Notice of Intent to be filed with the state Water Resources Control Board)(During Construction and Post-Construction Phases) and Construction Monitoring Program.

H. Drainage.

1. Debris basins, energy dissipatingenergy-dissipating devices, and down drains shall be provided, where necessary, to reduce erosionerosion when gradinggrading is undertaken in the hillside areashillside areas. Natural drainage courses shouldshall be retained where health and safety can be maintainedare not jeopardized. Drainage courses retained in a natural state shall be protected from gradinggrading activity. In instances where a crossing is required,. a natural crossing and bank protection shall be a preferreddesign option over steel and concrete systems.

Where drainage structures are required, they shall be naturalized with coloration, plant materials, native rocks and/or concealment with gradinggrading techniques.

2. Drainage channels, slope drainage devices, interceptor drains and terrace drains shouldshall be placed in less visible locations as demonstrated on the project plans and evaluated for erosion. Down drains shall be hidden in swales diagonally or curvilinear across a slope face. In this manner they will be built into the overall landform of the slope. They shouldshall also receive a naturalizing treatment, which may include native rock, colored concrete, and/or landscaping so that the structure appears as an integral part of the 133

environment. In all cases, a concrete liner shall be used in addition to a naturalizing treatment as demonstrated on the project plans and evaluated for erosion.

FIGURE 16.24-5

NATURALIZED VERSUS CONVENTIONAL LANDFORMING
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3. Cross lotCross-lot drainage usage shall be minimized. In situations where this is not possible using conventional design., optional techniques (e.g., single loaded streets, reduced densities, etc.) shall be considered. Use of cross lotcross-lot drainage may be considered only after demonstration that this method will not adversely affect the proposed lots or adjacent properties, and that it is absolutely required in order to minimize the amount of gradinggrading which would result with conventional drainage practices.

4. Where cross lot drainage is utilized, the following shall apply:

a. Project Interiors. One lot may drain across one other lot if a maintenance easement is provided within either an improved, open “V”-swale gutter which has a naturalized appearance, or within a closed drainage pipe that shall be a minimum twelve (12) inches in diameter. This drainage shall be conveyed to either to a public street or to a drainage easement.

If drainage is conveyed to a private easement, it shall be maintained by its owners or a Homeowners' Association; otherwise,. the drain-agedrainage shall be conveyed to a public easement. The easement width shall be determined on an individual basis and shall be dependent on appropriate hydrologic studies and access requirements. Irrigation lines shall be placed above swales to minimize the impacts in the event of a system failure. When irrigation lines cross an open “V”-swale they shall be placed into a galvanized pipe, which is to be clamped to the soil on both sides of the swale subject to the review of the directorCity Engineer or their designee.

b. Project Boundaries. On-site drainage shall be conveyed in an improved open “V”- swale gutter, which has a naturalized appearance, or within an underground pipe in either a private drainage easement, that is to be maintained by its owners or a homeowners' association, or it shall be conveyed in a public easement. The easement width shall be a minimum of ten feet. A greater width may be determined necessary on an individual basis and shall be dependent on appropriate hydrologic studies and access requirements.

I. Public Safety.

1. Residential developments shall be constructed in a manner so as to reduce the potential for spread of brushfireswildfires as follows:

a. In the case of a conflict where more restrictive provisions are contained in the uniformadopted and/or locally adopted version(s) of the California Building Code building code or in the uniform fire codeCalifornia Fire Code, the more restrictive provisions shall apply.

b. Roofs shall be covered with noncombustible materials (e.g., clay tile, concrete shake, tile, or similar materials). Open ends shall be stopped in order to prevent bird nests, or other combustible material, lodging within the roof and to prevent entry of flames.

c. Exterior walls and fences shall be surfaced with noncombustible or flame resistive materials. Alternate surface materials may be approved subject to the approval of the fire chiefcode official and Bbuilding Oofficial. Except as otherwise provided herein, exterior walls shall extend to the ground.

d. Balconies., patio roofs, eaves and other similar overhangs shall be of noncombustible or flame resistive materials.

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e. Plastic webbing, split or whole bamboo, reed or straw-like materials, corrugated plastic or fiberglass materials, and similar flammable materials are not permitted for use on patio covers.

f. Vents for attics and underfloor areas shall be designed and located to minimize the likelihood of spreading of fire.

g. Chimneys shall be provided with approved spark arresters.

2. Adequate water supply and pressure for proposed development shall be required in compliance with fire department Standards.

3. The fire chiefcode official shall require brush, vegetation, or combustible debris to be removed and cleared within ten feet on each side of every roadway and access drive, and may enter upon private property to do so. This requirement shall not apply to single specimens of trees, ornamental shrubbery, or cultivated groundcover provided they do not form a means of readily transmitting fire.

4. If the fire chiefcode official determines in a specific case that difficult terrain, danger of erosionerosion, or other unusual circumstances make strict compliance with the clearance of vegetation undesirable or impractical, he or she may suspend enforcement thereof and require reasonable alternative measures designed to advance the purposes of this chapter.

5. Site design shall provide for all-weather equipment access to publicly maintained slope areas for maintenance and emergency purposes. Secondary access shall be provided, or an alternative method may be considered by the fire code official with evidence to ensure public safety.

6. Structures and facilities shall be restricted in geologically hazardous areas.

7. Special construction features shall be required in the design of structures where site investigations con-firmconfirm potential geologic hazards.

8. Development not on public sewers shall be permitted only after site specific investigations have been conducted that demonstrate the soils are suitable for on-site wastewater disposal and the disposal of wastewater will not degrade the subsurface water quality.

9. Due to the hazard associated with saturated soils in areas of steep slopesslopes, irrigation systems in critical areas that have the potential for failure in the judgement of the city engineerCity Engineer or their designee shall be required to be equipped with potentiometers to make sure that the systems will not operate when there is sufficient moisture in the soil.

16.24.070 Hillside Development Guidelines.

The hillside development guidelines are intended to illustrate and amplify the appropriate development concepts for designated hillside areashillside areas. The guidelines are not intended to be an exhaustive list of standards, but rather policy statements, to encourage development that is sensitive to the unique characteristics common to hillside properties. The guidelines allow for flexibility and they encourage creativity, especially where a specific plan is prepared. How-everHowever, the objective development standards provided in 136

Section 16.24.060 shall be considered as a "benchmark" against which hillside development proposals will be reviewed for compliance with the purposes of this chapter.

The guideline's purpose is to allow for innovative or alternate methods of design in hillside areashillside areas. Innovation is encouraged as long as the end result is one that respects the natural character of the hillside and is consistent with the purposes of this chapter and the goals, objectives and policies of the City’s Ggeneral Pplan .

Conformance with the guidelines willshall be incorporated in the preparation and approval of subdivisions and individual site developments. During the application review process, the cityCity will evaluate the consistency of the proposal with the purposes of this chapter. Prior to the start of the design effort, it is recommended that the project design team members read the City’s Ggeneral Pplan and become familiar with its policies.

A. Site Design.

1. Design of building sites shouldshall be sensitive to the natural terrain. Structures shouldshall be located in a way that minimizes gradinggrading and preserves natural features (e.g., prominent knolls, ridgelines, etc.)

2. Preserve views of significant visual features, as designated on the hillside overlay zone map, as seen from both within and outside a hillside development. When designing lots and plotting homes, the following provisions should be considered:

a. Dwellings should be oriented to allow view opportunities. even though views may be limited. Residential privacy should not be unreasonably sacrificed; and

b. A significant public vista, skyline, open space corridor, or vertical open space corridor as seen from an interstate, an arterial, or a secondary street should be a major design element in the site planning process.

3. Where possible, graded areas should be designed with manufactured slopes located on the uphill side of structures.
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FIGURE 16.24-6
EXHIBIT 2 - BUILDING PLACEMENT AT A SITE

4. To the extent possible,. the width of a building, measured in the direction of the slope, shouldshall be minimized in order to limit the amount of cutting and tilling and to better "fit" the house to the natural terrain. The degree of slope will dictate how this is accomplishedthe slope will dictate how this is accomplished and shall be demonstrated on the project plans (See Figure

16.24-6 Exhibit 3 – Building Placement at a Site.”
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FIGURE 16.24-6
EXHIBIT 3 - BUILDING PLACEMENT AT A SITE

5. Clustering of development is encouraged. in hillside areas regardless of size. This is particularly important in environmentally sensitive areas in order to reduce the potential for tire hazard, erosion and excess runoff, and to preserve existing natural features and open space.

B. Driveways and Roadways.

1. Driveways that serve more than one parcel are encouraged as a method of reducing unnecessary grading grading, paving, and site disturbance. 139

FIGURE 16.24-7

ROADWAY PLACEMENT AT A SITE

C. Architecture.

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1. The form, mass, and profile of the individual buildings and architectural features shouldshall be designed to blend with the natural terrain and preserve the character and profile of the natural slope. Techniques that should be consideredto accomplish this include:

a. Detaching the garage from the residence;

b. Integrating retaining walls into garage walls on sloping lots to reduce gradinggrading and minimize visibility of walls:; and

c. Including architectural enrichments and variations in roof massing. Roofs should have shall incorporate low profiles (for example 3:12 slope) to minimize their visual impact. On sloping land, the roof pitch shouldshall follow the slope of the hill-side hillside, instead of being perpendicular to the hillside or opposing hillside slope slope. Care should be taken to avoid the use of gabled ends on downhill elevations. Gable ends shall not be used on downhill elevations.

Upper stories shouldshall not be cantilevered out of the opposite direction of the hillside slope.

2. The design of the structure shouldshall give consideration to the lot's size and configuration in order to avoid the appearance of overbuildingbuilding scale and to minimize the blocking of views as demonstrated on the project plans. For example, within a development, the majority of the units should not be designed with minimum setback to minimum setback. See additional criteria as provided under Section 16.08.030 “Single-family Residential Design Standards and Design Features” and Section 16.08.040 “Multi-family Residential Design Standards”.

3. Large expanses of a single material on walls, roofs, or paving areas should be avoided.

Create interesting, small scale patterns by breaking up building mass, varying building materials, and through design and placement of windows and doors. Building plans and elevations should be varied throughout a development to avoid a monotonous "cookie-cutter" look.

D. Walls and Fences.

1. Walls and fences can be used to define a sense of place and create an attractive appearance. However, walls should not dominate a view, and their height should be limited adjacent to a street or trail or within a rear yard. Extensive landscaping should be used to reduce the visual impact of walls. In addition, street front walls should incorporate varying 141

design and natural materials. The use of open view fencing is encouraged, so long as adequate public safety and residential privacy are maintained.

12. When possible, walls and fences shouldshall be designed as an integral part of the building in order to minimize the visual impact on surrounding areas.

3. Visually obtrusive solid fencing should be avoided in highly visible areas (unless required for sound attenuation), with the preference being for open (wrought iron) fencing.

E. Landscaping.

1. Street trees shouldshall be provided in select areas to enhance the natural character of the areas and to create a more rural appearance. Street tree species selection, and spacing of trees, shouldshall be sensitive to the context in which they are planted. Species selection shouldshall be considered to minimize potential impacts to infrastructure also be respectful of potential impact on infra-structure improvements (i.e., root damage to streets, sidewalks, etc.).

2. SlopesSlopes shouldshall be designed with informal clusters of trees and shrubs to soften and vary the slope planes, consistent with landformlandform gradinggrading concepts.

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FIGURE 16.24-8

BUILDING ENVELOPE ON SLOPE

F. Grading.

There are three distinct types of gradinggrading proposed in these guidelines, each with a unique quality, and each with an individual and appropriate application as determined by the City Engineer or designee. Larger sites will most likely incorporate all three concepts in various parts of the plan.

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1. Minimal Grading. This is typically used for large lot single family homes, custom homes with variable foundations that conform to the existing slopesslopes, and other uses that utilize the least amount of gradinggrading in order to get the facility and structures built. This technique embraces the following concepts:

a. GradingGrading shouldshall be limited to individual flat graded pad areas for residential building sites. GradingGrading shouldshall be limited to only the required building areas and adjacent outdoor amenities in steep hillside areashillside areas;

b. Foundation systems that require little or no gradinggrading are encouraged, forcing the architecture to con-formconform to the land rather than the land to conform to the dwelling:

c. Roadways, driveways, and individual building pads should be designed to conform with the contours and to attempt to daylight in the center of the road or building pad to ensure a minimum cut and fill situation; and
c. Cut and fill lines delineating the grading activity whereby cut areas adjoining next to fill areas shall be situated outside of areas where differential settlement is not desirable (e.g., roadways, building pads, driveways, etc.).

d. The balancing of gradinggrading is the concept to minimizes the amountvolume of cubic yards of earth excavated and filled.

2. Contour Grading. This concept results in post-development landforms that exhibit many of the characteristics present within natural landforms. ContourContour gradinggrading is typically used in situations where conventional, terraced, gradinggrading with benches and slopesslopes might be used but a "softened" gradinggrading look is desired. This would be desirable for areas that are limited in public view (i.e. concealed rear yards). Typically, contourcontour gradinggrading can reduce required cutcut and fillfill volumes as compared with traditional, terraced, gradinggrading. The design elements associated with this type of gradinggrading include: (See Figure 3-916.24-9 “Contour Grading”)

a. The use of horizontal and vertical curve variations for slope banks creating a curvilinear pattern;

b. Post-development landforms that exhibit natural terrain characteristics (without the heavy modeling effects of landformlandform gradinggrading);

c. A general rounding of slopesslopes at slopeslope intersections and transition zones with natural grade;

d. PadPad configurations that are curvilinear; and

e. SlopesSlopes that are designed with contourcontour gradinggrading techniques (e.g., the location of slopesslopes behind structure (not in side yards), slopesslopes in hidden locations, or slopesslopes less than ten feet in height).

FIGURE 3-9

CONTOUR GRADING
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FIGURE 16.24-9

CONTOUR GRADING

FIGURE 3-10

LANDFORM GRADING
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FIGURE 16.24-10

LANDFORM GRADING

3. Landform Grading. Graded slopesslopes in this category will replicate the irregular shapes of natural slopesslopes. LandformLandform gradinggrading techniques shouldshall be used whenever slopesslopes are created that will be open to public view. This is particularly true for slopes that exceed ten feet in height.

The intent of these gradinggrading guidelines, is to incorporate the basic principles of the landformlandform gradinggrading concept as the preferred method in the design and construction of hillside development projects. so that they w ill be in harmony with the natural topography and reflect natural plant distribution patterns. (See Figure 3-1016.24-10 “Landform Grading”)
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LandformLandform gradinggrading techniques embraceshall incorporate the following concepts:

a. Land plans shouldshall flow with the natural topography rather than against it. This means that street pat-ternspatterns and building padpad configurations shall follow the underlying topographic features rather than cutting across them:

b. Landform graded slopes are characterized by continuous series of concave and convex forms interspersed with mounds that blend into profiles with varying slope gradients and with significant transition zones between man-made and natural slopes;;

c. Pad configurations are irregular. Slope down-draindrainage devices either follow natural lines of the slopes or are tucked away in special Swale and berm combinations in order to conceal the drains from view. Exposed segments in visible areas are treated with natural rock for a more aesthetically pleasing appearance;

d. Theis technique shouldshall be used wherever possible to provide for a variety of both slope percentage, slope direction, and topographical detailing in a three-dimensional, undulating. pattern similar to existing terrain;: and

e. Manufactured cutcut and fillfill slopesslopes exceedingin excess of ten feet in height that will be either exposed to permanent public view or are adjacent to environmentally sensitive areas, shouldshall be designed with features characteristic ofof natural slopesslopes,. This design shall be implemented, where physically feasibleas determined by the City Engineer based on the project plans so that theirthe ultimate appearance will resemble a natural slope.

This will includeis applicable to, but not limited to, slopesslopes along streets, and highways, adjacent to parks, schools, open spaces,. other public facilities, and other prominent and visible slopesslopes.

4. The following basic gradinggrading guidelines and techniques serve to implement preferred landformlandform grading techniques and help avoid unnecessary cutcut and fillfill:

a. CutsCuts. When convex shaped natural features. (e.g., protruding minor landforms) are cutcut, the residual landform shouldshall be in a form to maintain positive drainage and resemble the original slope. not be a flat slope face, but rather should be restored to resemble the original. This will require more than just rounding at the edges but, in effect, reconfiguring it so the final result will give the appearance of a protruding ridgeline.

b. Use of variable slope ratiosslope ratios. Because Landform grading designs require the use of variable slope ratios at greater than 2:1 and may create valleys or concave indentations on building pad areas, they may result in loss of usable area. In addition, engineering and construction costs may increase. Be-cause of this, segments of a cut or fill slope may be designed with variable slope ratios less than 2:1, but not less than 1.5: I within the following guidelines and subject to third party review at the applicant's expense: Because landform grading designs require the use of variable slope ratios, this may result in loss of usable area near building pads. Therefore, only cut slopes may be steeper than 2:1, but not steeper than 1.5:1 and shall meet the following guidelines:

1) A geotechnical engineer shall certify that slopesslopes will meet standard stability requirements;
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2) A licensed landscape architect shall certify the plantability of the slopes, with an emphasis on the slopes steeper than 2:1: and

32) The overall ratio from top to toe will be 2:1 or flatter; and

43) Ratios flatter than 2:1 will also be used in the slope design.

c. GradingGrading operations should be plannedshall occur to avoid the rainy season, October fifteenth (15th) to April fifteenth (I 5th15th). GradingGrading permits shall only be issued when a plan for erosion controlerosion and silt retentionsediment control has been approved by the cityCity without regard to time of year. Additionally, those projects also requiring a Storm Water Pollution Prevention Plan (SWPPP) shall obtain approval of the SWPPP prior to any grading permit issuance.

d. A rRounded and smooth transitions should be madeshall occur where when the planes of man-made and natural slopesslopes intersect. Where cutcut or fillfill conditions are created, slopesslopes shouldshall be varied. rather than left at a constant angle or create an unnatural, rigid, `'engineered" appearance. The angle of a graded slopeslope shouldshall be gradually adjusted to the angle of the natural terrain.

e. Manufactured slopesslopes adjacent to roadways shall be consistent with the landformlandform gradinggrading and revegetation techniques., where physically feasible to create visually interesting and pleasing streetscapes. The higher the slope becomes, the more important the modeling effect of landform grading becomes.

f. Top of slope berms shall be used to eliminate the possibility of drainage sheet flow over the slope that would potentially cause an unstable condition. Tops of slopes should be rounded in conformance with landform grading techniques, or increased in size to reduce the visual impact of the back of a home.

f. Slopes shall implement drainage measures as detailed within Sub-article 11 of the City of Murrieta Grading Manual.

G.G. Drainage.

1. Natural drainage courses shouldshall be preserved and enhanced to the extent possiblemaximum extent per the associated National Pollution Discharge Elimination System (NPDES) permit associated with the subject site. Rather than filling them in, drainage features should be incorporated as an integral part of the project design in order to enhance the overall quality and aesthetics of a site, to provide attractive open space vistas, and to preserve the natural character of the site. Encourage the use of natural drainage courses as natural boundaries between neighborhoods.

2. Storm drainage runoff resulting from project development should be minimized. Where possible, flood control plans for storm waters should encourage the detention of water for percolation in to the ground-water to conserve it for future uses and to mitigate downstream flooding.The NPDES Permit also requires a project’s stormwater runoff to be retained onsite through filtration to the maximum extent per State law. Runoff not retained onsite shall be conveyed offsite per City standards, codes, and policies.

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16.24.080 Exceptions.

A. No Grading Permit Required. A grading permit is not required if the project meets the criteria as provided under Section 15.52.040 (Permit Exceptions). Additionally, flatwork, pools, or spas, which results in the disturbance of 50 cubic yards or less, does not require a grading permit. For the purpose of this section, flatwork is hardscaping (such as concrete or pavers) for patios, walkways, etc. All other activities resulting in the disturbance of 50 cubic yards or less (excluding those areas that are identified within Section 16.24.060(G) (Grading)), shall require the applicant to provide a statement to that effect, which shall be filed with the City Engineer including the following information: parcel boundaries, pad elevations, on or off-site existing grade elevations, vehicular access to and from the project site with both private and public roadways, existing utilities, and, if applicable, septic system location(s). The plan may be prepared on a topographic map drawn at a scale as large as one (1) inch to one-hundred (100) feet subject to the satisfaction of City Engineer.

B. Residential Accessory Structures and Accessory Dwelling Units. This Chapter shall not apply to the development of residential accessory structures and accessory dwelling units on parcels with existing development approvals when the new construction:

1. Requires the removal of no more than 50 cubic yards of soil;

2. Does not require the use of a retaining wall;

3. Meets the criteria as described within Section 16.44.150 (Residential Accessory Uses and Structures) and Section 16.44.160 (Accessory Dwelling Units); and,

4. Satisfies the criteria as identified within Section 16.24.060(G).

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16.24.090 (Reserved).

Reserved for future updates

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16.24.100 Hillside Overlay Map.

A. Refer to the City’s online Geographic Information System (GIS) as an additional mapping resource for project review.

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Section 16.28.080 (Landscaping Standards) is hereby amended in its entirety to read as follows:

“16.28.080 Landscape Standards.

Landscape areas and materials shall be designed, installed, and maintained in compliance with the following:

A. General Design Standards. The following features shall be incorporated into the design of the proposed landscape and shown on required landscape plans:

1. Landscaping shall be planned as an integral part of the overall project design and not simply located in excess space after parking areas and structures have been planned;

2. Pedestrian access to sidewalks and structures shall be considered in the design of all landscaped areas;

3. Landscape planting shall be provided for all adjacent public rights-of-way, in compliance with Chapter 16.108 (Improvements);

4. With the exception of single-family residential units, landscape adjacent to driveways and parking areas shall be protected from vehicle damage through the provision of minimum six (6) inch high concrete curbs or other types of barriers as approved by the director;

5. Landscaped areas shall not be less than five (5) feet in width, except where determined by the director;

6. Concrete strips, a minimum of four (4) inches in width, shall be provided to separate all turf areas from other landscaped areas, except for single-family residential landscape projects;

7. Permeable surfaces shall be used wherever permissible in place of impervious paving, to encourage on-site water infiltration and support water conservation measures. Permeable surfaces shall be identified on plans; and

8. Protective tree grates shall be provided for trees planted in pedestrian areas, except for single-family residential landscape projects and as determined by the director.

B. Plant Materials. Plant materials shall be selected and installed to comply with the following requirements:

1. A mix of plant materials shall be provided in compliance with the following table (Table 3- 516.28-2). Calculations documenting the required mix shall be shown on the landscape plan;

Table 3-5TABLE 16.28-2

MINIMUM REQUIRED MIX OF PLANT MATERIALS
Plant Material Minimum Required Percentage
Trees
Twenty-four (24) inch box 35%*
Fifteen- (15) -gallon 65%
Shrubs
Five- (5-) gallon 70%
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One- (1-) gallon (herbaceous only) with city
approval
30%
Groundcover
Coverage within two (2) years 100%
A greater percentage of specimen trees may be utilized with a corresponding reduction in the number of fifteen- (15-) gallon trees subject to the review of the director.

2. Trees for shade shall be provided for buildings/structures, as well as for parking lots and open space areas. These trees can be deciduous or evergreen and are to be incorporated to provide natural cooling opportunities for the purpose of energy and water conservation;

3. Trees shall be planted in areas of public view adjacent to and along structures, at an equivalent of at least one (1) tree per thirty (30) linear feet of structure. Other areas shall provide trees at a ratio of one (1) tree for each three hundred (300) square feet of landscaped area. The clustering of trees is encouraged;

4. Mature specimen trees in thirty-six (36) inch and forty-eight (48) inch boxes shall be provided for large projects in sufficient quantity subject to the approval of the Director, to provide variety and emphasis at main focal areas;

5. All trees shall be staked or guyed (on a case-by-case basis) subject to the review of the director and in compliance with city standards;

6. Trees and shrubs shall be planted so that at maturity they do not interfere with service lines and traffic safety sight areas;

7. Trees and shrubs shall be planted and maintained in a manner that protects the basic rights of adjacent property owners, particularly the right to solar access;

8. Trees planted near public sidewalks or curbs shall be of a species and installed in a manner that prevents physical damage to sidewalks, curbs, gutters and other public improvements; and

9. Groundcover shall be of live plant material. Limited quantities of gravel, colored rock, bark, and similar materials may be used in combination with a living groundcover.”

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1 Tracy, Christopher
From: Tracy, Christopher
Sent: Tuesday, August 15, 2023 4:11 PM
To: McDonald, Cristal; Ramirez, Kimberly; Garcia, Sylvia Cc: Chantarangsu, David; Stiehl, Carl
Subject: FW: Hillside Ord - Please Distribute for Council Workshop Attachments: Ltr to Council Hillside Grading Ord.pdf
Hi Cristal,
Please ensure that this is distributed to the Council for the workshop:

Thank you,

Chris Tracy, AICP

SENIOR PLANNER

DEVELOPMENT SERVICES DEPARTMENT

CITY OF MURRIETA
O: (951) 461-6046
[email protected]
1 Town Square | Murrieta, CA 92562
www.MurrietaCA.gov | Connect with us

From: A Long <[email protected]>
Date: August 15, 2023 at 8:29:00 AM PDT
To: "Warren, Cindy" <[email protected]>
Subject: Hillside Ord

CAUTION: This email originated from outside of the organization. Do not click links or open attachments unless you recognize the sender and know the content is safe.

Please see my attached letter regarding the workshop on the Hillside Grading Ordinance.

Also, I appreciate staff's effort on retaining walls, but this is a good example of "throwing the baby out with the bath water." While there are examples of tall retaining walls that are an eyesore. There are more examples of tall retaining walls that work well, but you can't see. This is my point. What difference does it make if a retaining wall is 5' or 50' if you can't see it??? I can think of several commercial site that would not be able to build unless the built a very tall retaining wall that can't bee seen. Also, if fire codes keep widening road standard, there may be many rural residential homeowners needing to widen their driveways with retaining if they propose to build accessory structures like a bar,

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2 Please keep in mind, this ordinance and direction being sought is not mandated by the region, state, or federal agencies. It is one of the few items you can exercise local control over. Please consider those residents you are placing this map upon.

Respectfully,

Alan
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Honorable Mayor, Mayor Pro-Tem, and Council members, I am writing you out of grave concern, due to the damage that the proposed Hillside grading ordinance will cause my family, business, and neighbors. The current Hillside Ordinance is to be applied citywide as written and originally adopted in 1998. Admittedly, the city has not been consistent when and where they enforce this ordinance. Development has been approved within and outside of the proposed Hillside Overlay Map (HOM), Prominent Ridgeline Map (PRM) and current unofficial map the city periodically uses to enforce the Hillside Ordinance. Also, it’s worthy to mention, the city claims it was not the intent for the policy to be enforced citywide, yet it is written as such. While I cannot opine on what everyone’s past intent was/is, I can tell you the General Plans (GP) mentions viewshed and views from the major freeways of the “NATURAL SETTING.” While I agree with staff, the GP lacks detail and is vague. However, it clearly places value on the “views from major freeways” for “people passing through the area” on major freeways. The GP also mentions “the Valley Floor” to be a protected viewshed, but that’s another confusing topic. In either case, the views from the I15 & 1215 freeways have changed since 1998. Frankly, you only get peekaboo view of our hills due to all the development that has occured. The better question is to be asking is, with all the development along the I15 and I215, does this section GP and Hillside ordinance still make since? The vagueness and ambiguity of this topic should not be a surprise, but the recommendations being made should be. In July 2019, I had several conversations and emails with the Murrieta Planning Director regarding the wording in the Conservation section of our GP and Hillside Grading Ordinance. Specifically, I informed staff that the vagueness and wording would cause confusion for future staff and governing bodies. I suggested that, since the GP was being opened, this language be cleared up. After staff reviewed the language, I was assured that development could occur on my property and the current CUP and past Tentative Tract Map (TTM) approval set the precedence. Well, here we are fighting again. BACKGROUND: On January 6, 2005, an application was filed by DFC Family Limited Partnership for a tentative tract map, for property located west of the intersection of Los Alamos and Mason Roads on the southernmost hill of what is known as the Hogbacks, to allow for a fifteen (lot) residential subdivision of 37.86 acres (38 acres). Several workshops and discussions were scheduled regarding the Hillside Grading Ordinance and potential development. On July 26, 2006, the Planning Commission met in a study session workshop to consider the DFC Family Limited Partnership for a tentative tract map and one other property owner proposing to develop on the Hogbacks in the Los Alamos District. Neighboring residents near the project overwhelmingly spoke in favor of the project. Feedback was requested from the Commissioners at the workshop on “the feasibility” of the project. It was the Commission’s consensus that “a subdivision on the 156
Hogbacks in the Los Alamos District will be possible. The project and CEQA documents were later approved. Since this time, I purchased the above-mentioned property and applied for a CUP. Again, the CEQA documents and CUP were approved. We have made significant investment in time and funding to get through the CUP process on properties that have been significantly developed and are NOT in their natural setting. This can be said about my adjacent neighbors at the bottom of slope (42 Lots). In fact, the property I own had a slope analysis done for the approved TTM. Most of my property is less than 25%, yet is identified in both the HOM and PRM. The areas that are greater than 25% has been placed into conservation through the CUP process. Also, I do not support using the “Technology” available to the city to determine whether a parcel should be in a definitive map. This “Technology” has already proven not to be reliable as there are several lots identified on the HOM that are completely flat. As you know, the same areas identified in the HOM and PRM are within the Multi Species Habitat Conservation Plan, another layer of conservation requirments. The MSHCP has been the primary vehicle used to gain most conservation land in Murrieta. Most of the land identified in the PRM has already been placed into conservation and the remaining land already developed. In essence, the MSHCP accomplished more than what was identified in the conservation section of the GP. The developed parcels identified on the newly proposed HOM and PRM should not be singled, preventing them the use their property like the rest of the city. To summarize, most of my property is not more than 25% slope, the areas that are greater than 25% has already been conserved, the previous staff and governing body aproned TTM, there is a current CUP for commercial business, and land has been every portion of land that remains has been disturbed by way of grading, imported dirt and/or structures and is NOT in its “natural setting.” For these reasons, and many others, I am asking to be removed from the Hillside Overlay map and Prominent Ridgeline Map. The following picture is my property. We have 9 lots, an underlying tract map of 15 lots, 6 SFD units, multiple accessory structures, water tanks, and an active commercial business. Every square foot of the parcels on top of this hill has been developed by grading, trenching, importing fill dirt, and/or built upon. Additionally, many of the adjacent parcels (42 lots) can say the same, some having little to no slope. See picture below with yellow stars indicating homes mid-slope. 157
Also, the growth around the city has blocked the viewshed of these areas and now only offers a “peekaboo” view from few areas. Many of these areas have approved development projects that will continue to block the view. See following pictures:

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159

160

161
Yellow stars indicate homes
Yellow stars indicate homes
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The following pictures are some of the development and homes that cannot be seen from most viewsheds

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165

166
Again, every square foot or our property has been graded, trenched, built on and/or had imported fill dirt. Clearly, our properties are NOT in the natural ridgeline state. Placing us in these HOM and/or PRM, restricting our use of land that has already been developed will cause us hardship and will significantly impact our business and family that has been here for 5 generations. There are several ridgelines that are still in their natural state. However, as development continues the viewshed will continue to dwindle. Nevertheless, if the city council continues to support a PRM. I suggest preserving undeveloped ridgelines that are in their natural state as stated in the General Plan. See below picture: The Center Hogback is the tallest and largest Hogback and the ridgeline is in its natural state. This Ordinance is not being mandated from the region, state, and/or federal government. On the contrary, it is a local decision, one of the few you get to make these days. We ask that you reconsider our property and remove it from the HOM, PRM or any other map that would cause us restrictions the rest of the city is free from, and instead focus on preserving undeveloped ridgelines that are in their natural state, such as the below picture:
167
Respectfully. Alan Long Resident Heritage Hill, Owner
168

CITY OF MURRIETA
City Council Meeting Agenda
Report
10/21/2025
Agenda Item No. CS1.

Subject:

Conference with Legal Counsel - Anticipated Litigation
The City Council will conduct a closed session, pursuant to Government Code section 54956.9(d)(4), because the City is considering whether to initiate litigation in 1 case.

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CITY OF MURRIETA
City Council Meeting Agenda
Report
10/21/2025
Agenda Item No. CS2.

Subject:

Conference with Real Property Negotiations
The City Council will conduct a closed session, pursuant to Government Code Section 54956.8, to enable the City Council to consider negotiations and to give direction to its negotiators regarding that certain real property at the intersection of Kalmia Street and Jefferson Avenue, APNs 906-080-041, 906-080-042, and 906-080-033 with Bold Communities and Fidelis Advisors. The City's real property negotiators, the City Manager, Assistant City Manager, Development Services Director, Economic Development Director, and City Attorney, will seek direction from the City Council regarding the price and terms for this property.

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CITY OF MURRIETA
City Council Meeting Agenda
Report
10/21/2025
Agenda Item No.

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CITY OF MURRIETA
City Council Meeting Agenda
Report
10/21/2025
Agenda Item No.

Subject:

Police Department: E-Bike Social Media Campaign
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CITY OF MURRIETA
City Council Meeting Agenda
Report
10/21/2025
Agenda Item No.

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CITY OF MURRIETA
City Council Meeting Agenda
Report
10/21/2025
Agenda Item No. 1.

TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Cristal McDonald, City Clerk
PREPARED BY: Kimberly Ramirez, Deputy City Clerk
SUBJECT:

Waive Reading of All Ordinance Adoptions on the Agenda and Read by Title Only

RECOMMENDATION
Waive reading, by title only, of all Ordinances and Resolutions. Said Ordinances and Resolutions which appear on the public agenda shall be determined to have been read by title and further reading waived.

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CITY OF MURRIETA
City Council Meeting Agenda
Report
10/21/2025
Agenda Item No. 2.

TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Cristal McDonald, City Clerk
PREPARED BY: Cristal McDonald, City Clerk
SUBJECT:

Minutes

RECOMMENDATION
Approve the October 7, 2025 Regular meeting minutes.

ATTACHMENTS

1. October 7, 2025 Minutes
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Meeting Agenda
City Council October 7, 2025

CITY OF MURRIETA Tuesday, October 7, 2025
Council Chambers 5:00 PM CLOSED SESSION
1 Town Square 5:30 PM RECESS
Murrieta, CA 92562 6:00 PM REGULAR MEETING

MINUTES

The City of Murrieta intends to comply with the Americans with Disabilities Act (ADA). Persons with special needs should call the City Clerk Department at (951) 461-6031 or email at [email protected] at least 72 hours in advance. Any writings or documents provided to a majority of the City Council regarding any item on this agenda will be made available for public inspection at the public counter at City Hall located at 1 Town Square, Murrieta, CA during normal business hours.

Any presentation requiring the use of the City of Murrieta’s equipment must be submitted to the City Clerk’s department 72 hours prior to the scheduled City Council meeting at City Hall located at 1 Town Square, Murrieta, CA; via email at [email protected] or call (951) 461-6031. Any writings or documents provided to a majority of the City Council regarding any item on this agenda will be made available for public inspection at the public counter at City Hall located at 1 Town Square, Murrieta, CA during normal business hours.

Cindy Warren
Mayor

Jon Levell Lisa DeForest Mayor Pro Tem Council Member

Lori Stone Ron Holliday Council Member Council Member Justin Clifton, City Manager
Tiffany Israel, City Attorney
Cristal McDonald, City Clerk

MURRIETA CITY COUNCIL (CC)

MURRIETA COMMUNITY SERVICES DISTRICT (CSD)

MURRIETA FIRE DISTRICT (FD)

MURRIETA LIBRARY BOARD (LB)

MURRIETA REDEVELOPMENT SUCCESSOR AGENCY (RSA)

MURRIETA HOUSING AUTHORITY (HA)

MURRIETA FINANCING AUTHORITY (FA)

YOU MAY VIEW THE MEETING LIVESTREAMED VIA THE CITY’S WEBSITE AT https://murrieta.legistar.com/Calendar.aspx

5:00 PM CLOSED SESSION
CALL TO ORDER 5:00 p.m.

ROLL CALL

Present: Council Member Ron Holliday
Council Member Lori Stone
Council Member Lisa DeForest
Mayor Pro Tem Jon Levell
Mayor Cindy Warren
PUBLIC COMMENTS - CLOSED SESSION ITEMS ONLY None
176

Meeting Agenda
City Council October 7, 2025

ANNOUNCEMENT OF CLOSED SESSION ITEMS

Deputy City Clerk Kimberly Ramirez announced the following Closed Session item:

CLOSED SESSION
CS1. Conference with Legal Counsel - Anticipated Litigation The City Council will conduct a closed session, pursuant to Government Code Section 54956.9(d)(2), because there is significant exposure to litigation for two cases.

RECESS TO CLOSED SESSION 5:01 p.m.
5:30 PM RECESS
The City Council will take a brief recess to join as guests in a community vigil event at the flagpole located between City Hall and the Police Station.

CALL TO ORDER 5:28 p.m.

ROLL CALL

Present: Council Member Lisa DeForest
Council Member Lori Stone
Mayor Pro Tem Jon Levell
Mayor Cindy Warren

Absent: Council Member Ron Holliday

RECESS TO EVENT 5:28 p.m.

6:00 PM REGULAR MEETING
CALL TO ORDER 6:03 p.m.

ANNOUNCEMENT OF CLOSED SESSION ACTION

City Attorney Tiffany Israel reported the following Closed Session Action:

CS1. – Case 1 and 2: No reportable action.

ROLL CALL

Present: Council Member Ron Holliday
Council Member Lori Stone
Council Member Lisa DeForest
Mayor Pro Tem Jon Levell
Mayor Cindy Warren
177

Meeting Agenda
City Council October 7, 2025

PLEDGE OF ALLEGIANCE Mayor Pro Tem Jon Levell
INVOCATION Pastor Mark Brunette, Promise Christian Church

PRESENTATIONS
Public comments relating to the Presentation will be taken during the respective item.

Proclamation: SAFE Family Justice Center - Domestic Violence Awareness Month Proclamation: Breast Cancer Awareness Month
Presentation: Champion for Murrieta, Frank Donahoe

APPROVAL OF AGENDA

Action: It was moved by Council Member Holliday, seconded by Council Member DeForest, to approve the Agenda for October 7, 2025.

The motion carried by the following vote:

Ayes: DeForest, Stone, Holliday, Levell, Warren
Noes: None

Absent: None

CITY MANAGER - ADMINISTRATIVE UPDATE

Community Update: Public Information Officer Cristina Davies

GOVERNING BODY COMMISSION/COMMITTEE/BOARD (CCB)

REPORTS/ANNOUNCEMENTS

Council Member DeForest: Deferred Reports/Announcements to the next meeting.

Council Member Stone: Provided attendance/reported the following:
• Western Regional Council of Governments (WRCOG)

Provided Announcements to be made part of the City’s
record.

Council Member Holliday: Provided attendance/reported the following:
• Town Square Park & Amphitheater Ad-Hoc
Subcommittee
• Regional Conservation Authority (RCA)

Provided Announcements to be made part of the City’s
record.
178

Meeting Agenda
City Council October 7, 2025

Mayor Pro Tem Levell: Provided verbal Announcements.

Mayor Warren: Provided attendance/reported the following:
• Town Square Park & Amphitheater Ad-Hoc
Subcommittee
• Riverside Transit Agency (RTA)

Provided Announcements to be made part of the City’s
record.

PUBLIC COMMENTS (NON-AGENDA)
Adam Eventov: Representing SoCal Gas, spoke on recent legislation passed and clarified the effects on the community.

CONSENT CALENDAR - APPROVAL OF ITEMS 1 – 8
All matters listed on the Consent Calendar are to be considered routine by the governing bodies, and will be enacted by one motion in the form listed. There will be no discussion of these items unless, before the governing body votes on the motion to adopt, specific items are removed from the Consent Calendar for separate motions.

Action: It was moved by Council Member Holliday, seconded by Council Member DeForest to approve Consent Calendar Item Nos. 1-8.

The motion carried by the following vote:

Ayes: DeForest, Stone, Holliday, Levell, Warren
Noes: None

Absent: None

1. Waive Reading of All Ordinance Adoptions on the Agenda and Read by Title Only Recommended Action:

Waive reading, by title only, of all Ordinances and Resolutions. Said Ordinances and Resolutions which appear on the public agenda shall be determined to have been read by title and further reading waived.

2. Minutes

Recommended Action:

Approve the September 16, 2025 Regular meeting minutes.

3. Murrieta Supervisors’ Association Successor Memorandum of Understanding for the Period July 1, 2024, through June 30, 2027
Recommended Action:

Adopt Resolution No. 25-4889 entitled: A Resolution of the City Council of the City of Murrieta, California, Approving, Adopting and Implementing a Successor Memorandum of Understanding between the City of Murrieta and the Murrieta Supervisors’ Association for the Period July 1, 2024, through June 30, 2027.
179

Meeting Agenda
City Council October 7, 2025

4. Updated Murrieta Management, Professional, and Confidential Employees’ Compensation Plan
Recommended Action:

Adopt Resolution No. 25-4890 entitled: A Resolution of the City Council of the City of Murrieta, California, Approving an Updated Murrieta Management, Professional, and Confidential Employees’ Compensation Plan.

5. License Agreement with Murrieta Valley Unified School District for Sidewalk at Vintage Reserve Park
Recommended Action:

Approve a License Agreement with Murrieta Valley Unified School District for the construction and maintenance of a gate access and sidewalk from Buchanan Elementary School to Vintage Reserve Park; and

Authorize the City Manager to execute the Agreement.

6. Notice of Completion - Glen Arbor Dog Park Project
Recommended Action:

Accept the public improvements for the Glen Arbor Dog Park Project, Capital Improvement Project No. 8273; and

Authorize the City Clerk to record a Notice of Completion and release bonds in accordance with State law and City ordinances.

7. Purchase Radios from Motorola for Police Vehicles
Recommended Action:

Approve the purchase of ten police radios from Motorola Solutions, Inc. for a total of $108,074.34.

8. Subdivision Improvement Agreement for Tentative Parcel Map 2022-2549 and Development Plan 2022-2551, Gierson Ranch
Recommended Action:

Approve the Subdivision Improvement Agreement for Tentative Parcel Map 2022-2549 and Development Plan 2022-2551; and

Authorize and direct the City Engineer to execute the Subdivision Improvement Agreement.

PULLED CONSENT CALENDAR ITEMS None

DISCUSSION

9. Finding that Emergency Conditions Persist in Connection with the Hayes Avenue Bridge at Miller Canyon Creek

Staff report and PowerPoint presentation provided by City Engineer Jeff Hitch.

Director of Public Works Bob Moehling was available to answer questions from the City Council.
180

Meeting Agenda
City Council October 7, 2025

Public Comments: None

Action: After discussion, it was moved by Council Member DeForest, seconded by Mayor Pro Tem Levell, to adopt Resolution 25-4891 entitled: A Resolution of the City Council of the City of Murrieta, California, Declaring that Emergency Conditions Persist in Connection with the Hayes Avenue Bridge at Miller Canyon Creek.

The motion carried by the following vote:

Ayes: DeForest, Stone, Holliday, Levell, Warren
Noes: None

Absent: None

10. Third Amendment to Agreement with Flock Group, Inc. to Add the “Drone as First Responder” Program

Staff report and PowerPoint presentation provided by Police Chief Matt Henry and Police Captain Jeremy Durrant.

Public Comments: None

Action: After discussion, it was moved by Council Member DeForest, seconded by Mayor Pro Tem Levell, to Amend the Fiscal Year 2025/26 Operating Budget to establish an appropriation of $150,000 using Measure T Unassigned Fund Balance; Authorize the exemption from bidding requirements; Approve the third amendment to the Agreement with Flock Group, Inc. to add the “Drone as First Responder” Program in the total amount of $750,000 for a three year agreement; and Authorize the City Manager to execute the third amendment to the agreement and amend the agreement with a contingency amount not to exceed $75,000.

The motion carried by the following vote:

Ayes: DeForest, Stone, Holliday, Levell, Warren
Noes: None

Absent: None

NOTIFICATIONS None

RECONSIDERATION None

COUNCIL MEMBER REQUESTS TO ADD ITEMS TO FUTURE AGENDAS

Council Member DeForest: None.
181

Meeting Agenda
City Council October 7, 2025

Council Member Stone: Council Member Stone withdrew her request from the September 16, 2025, meeting regarding Proposition 50, as the Legislative Subcommittee had already taken a position on the legislative bills related to that item.

Council Member Holliday: None.

Mayor Pro Tem Levell: None.

Mayor Warren: None.

ADJOURNMENT 7:55 p.m.

_________________________
Cristal McDonald, City Clerk

182

CITY OF MURRIETA
City Council Meeting Agenda
Report
10/21/2025
Agenda Item No. 3.

TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Javier Carcamo, Finance Director
PREPARED BY: Tanner Benson, Financial Analyst - Finance SUBJECT:

Monthly Investment Transaction Report for August 2025

RECOMMENDATION
Receive and file the Monthly Investment Transaction Report for August 2025.

PRIOR ACTION/VOTE
None.

CITY COUNCIL GOAL
Maintain a high performing organization that values fiscal sustainability, transparency, accountability and organizational efficiency.

DISCUSSION
This report is filed with the City Council in compliance with Government Code Section 53607, which states that a monthly report of transactions related to the purchase, sale, or exchange of securities is made monthly to the legislative body. The City of Murrieta (City) has both long-term and short-term investments. The City’s managed investment portfolio is for longer-term investments, managed by Chandler Asset Management. The Local Agency Investment Fund (LAIF), managed by the California State Treasurer, is used for short-term investments and functions more like a savings account to facilitate cash flow.

This report includes funds under management from Chandler Asset Management, funds deposited with LAIF, and earnings from the Wells Fargo Cash Sweep Program. Bond funds held by the City’sTrustee are not included in this report but are on file and available upon request.

The transactions in the long-term investment portfolio for August 2025 include dispositions of $4,728,928.20 in cash, payables, receivables, maturities, and sales, which also includes a withdrawal for bank fees.

Subsequently, these proceeds, together with the dispositions and monthly interest earnings, were reinvested in security and money market fund purchases totaling $5,322,944.26.

The California State Treasurer allocates and reinvests LAIF interest earnings on a quarterly basis. Quarterly CITY OF MURRIETA Printed on 10/16/2025Page 1 of 2
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10/21/2025
Agenda Item No. 3.

The California State Treasurer allocates and reinvests LAIF interest earnings on a quarterly basis. Quarterly interest earnings are reflected in the statement one month following the end of the quarter. This account's last interest earnings deposit was in July 2025, for the prior quarter. There are no LAIF transactions to report for the month of August. The ending balance as of August 31, 2025, is $2,021,589.77.

As of August 31, 2025, the City’sTotal Ending Book Value (or what the City actually paid for the investments) for both investment accounts (long and short-term accounts) is $154,079,295.50. Both accounts combined had an overall increase of $606,164 or 0.39%, which includes any deposits, dispositions, applicable interest earning, and less any realized gain/loss or monthly fees charged to the account.

The City is also earning monthly dividends in the General Checking account. The Wells Fargo “CashSweep Program” allows the City to earn a return on uninvested cash balances in our General Checking Account by automatically "sweeping" cash balances into a Sweep investment vehicle until such balances are otherwise needed to satisfy obligations arising in the account.

The total earnings from the Cash Sweep Program for the month of August were $422,908.78.

Attached are the investment portfolio accounts for Chandler for the month of August (Attachment 1) and the regular monthly statement for LAIF (Attachment 2), which lists all transactions associated with the respective accounts. In addition, Attachment 3 provides a summary of daily transactions for the Wells Fargo Cash Sweep Program.

This report also includes a statement of compliance with state law and the City’sinvestment policy for the various investment categories.

FISCAL IMPACT
The recommended action has no fiscal impact. Interest earnings projections are included in the Fiscal Year 2025/26 Operating Budget.

ATTACHMENTS

1. Chandler Asset Management Monthly Account Statement for August 2025

2. Local Agency Investment Fund (LAIF) Monthly Statement for August 2025

3. Wells Fargo Cash Sweep Program August 2025 Statement CITY OF MURRIETA Printed on 10/16/2025Page 2 of 2
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MONTHLY ACCOUNT STATEMENT
Murrieta Consolidated | Account | As of August 31, 2025 CHANDLER ASSET MANAGEMENT | chandlerasset.com
Custodian:

US Bank
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Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

PORTFOLIO SUMMARY
Portfolio Characteristics
Sector Allocation
Account Summary
Maturity Distribution
Top Issuers
Credit Quality (S&P)
Average Modified Duration 1.78
Average Coupon 3.83%
Average Purchase YTM 4.35%
Average Market YTM 3.91%
Average Credit Quality* AA+
Average Final Maturity 2.11
Average Life 1.83
End Values as of
07/31/2025
End Values as of
08/31/2025
Market Value 153,419,733.84 154,849,484.58
Accrued Interest 1,269,685.61 1,168,174.53
Total Market Value 154,689,419.46 156,017,659.12
Income Earned 486,387.71 363,421.13
Cont/WD 0.00 0.00
Par 154,193,825.62 154,808,461.69
Book Value 151,451,541.73 152,057,705.74
Cost Value 151,451,541.73 152,057,705.74
Government of The United States 35.14%
Federal Home Loan Banks 11.66%
FHLMC 10.35%
Farm Credit System 7.05%
U.S. Bancorp 1.93%
Massachusetts Mutual Life Insurance 1.36%
New York Life Insurance Company 1.27%
American Express Credit Master Trust 1.24%
*The average credit quality is a weighted average calculation of the highest of S&P , Moody’s and Fitch. 186
| 3
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes

AGENCY MORTGAGE SECURITIES (CMOS)
Max % (MV) 20.0 10.4 Compliant
Max % Issuer (MV) 30.0 10.4 Compliant
Max Maturity (Years) 5.0 4.6 Compliant

ASSET-BACKED SECURITIES (ABS)
Max % (MV) 20.0 8.6 Compliant
Max % Issuer (MV) 5.0 0.9 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant

BANKERS' ACCEPTANCES
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 180 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant

CERTIFICATE OF DEPOSIT PLACEMENT SERVICE (CDARS)
Max % (MV) 30.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant

COLLATERALIZED TIME DEPOSITS (NON-NEGOTIABLE
CD/TD)
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant

COMMERCIAL PAPER
Max % (MV) 40.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 270 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant

CORPORATE MEDIUM TERM NOTES
Max % (MV) 30.0 24.9 Compliant
Max % Issuer (MV) 5.0 1.4 Compliant
Max Maturity (Years) 5 3 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

FDIC INSURED TIME DEPOSITS (NON-NEGOTIABLE CD/
TD)
187
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Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes
Max % (MV) 20.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant

FEDERAL AGENCIES
Max % (MV) 100.0 18.7 Compliant
Max % Issuer (MV) 30.0 11.7 Compliant
Max Callables (MV) 20.0 0.0 Compliant
Max Maturity (Years) 5 3 Compliant

LOCAL AGENCY INVESTMENT FUND (LAIF)
Max Concentration (MV) 75.0 0.0 Compliant

MONEY MARKET MUTUAL FUNDS
Max % (MV) 20.0 1.1 Compliant
Max % Issuer (MV) 10.0 1.1 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, LOCAL AGENCY)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

MUTUAL FUNDS
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 10.0 0.0 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1 if > FDIC Limit) 0.0 0.0 Compliant

REPURCHASE AGREEMENTS
Max % (MV) 20.0 0.0 Compliant
Max Maturity (Years) 1.0 0.0 Compliant

SUPRANATIONAL OBLIGATIONS
Max % (MV) 30.0 1.2 Compliant
Max % Issuer (MV) 10.0 1.2 Compliant
Max Maturity (Years) 5 2 Compliant
188
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Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes
Min Rating (AA- by 1) 0.0 0.0 Compliant
U.S. TREASURIES
Max % (MV) 100.0 35.1 Compliant
Max Maturity (Years) 5 4 Compliant
189
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Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

RECONCILIATION SUMMARY
Accrual Activity Summary
Fair Market Activity Summary
Month to Date Fiscal Year to Date
(01/01/2025)
Beginning Book Value 151,451,541.73 148,126,527.34
Maturities/Calls (2,375,000.00) (25,150,000.00)
Principal Paydowns (535,600.80) (2,820,948.64)
Purchases 5,322,944.26 73,781,007.12
Sales (1,948,411.25) (42,341,084.67)
Change in Cash, Payables, Receivables 130,083.85 107,847.13 Amortization/Accretion 0.00 0.00
Realized Gain (Loss) 12,147.94 354,357.46
Ending Book Value 152,057,705.74 152,057,705.74
Month to Date Fiscal Year to Date
(01/01/2025)
Beginning Market Value 153,419,733.84 149,082,097.03
Maturities/Calls (2,375,000.00) (25,150,000.00)
Principal Paydowns (535,600.80) (2,820,948.64)
Purchases 5,322,944.26 73,781,007.12
Sales (1,948,411.25) (42,341,084.67)
Change in Cash, Payables, Receivables 130,083.85 107,847.13 Amortization/Accretion 0.00 0.00
Change in Net Unrealized Gain (Loss) 823,586.74 1,836,209.16 Realized Gain (Loss) 12,147.94 354,357.46
Ending Market Value 154,849,484.58 154,849,484.58
Maturities / Calls
Month to Date (2,375,000.00)
Fiscal Year to Date (25,150,000.00)
Principal Paydowns
Month to Date (535,600.80)
Fiscal Year to Date (2,820,948.64)
Purchases
Month to Date 5,322,944.26
Fiscal Year to Date 73,781,007.12
Sales
Month to Date (1,948,411.25)
Fiscal Year to Date (42,341,084.67)
Interest Received
Month to Date 468,963.46
Fiscal Year to Date 3,663,295.24
Purchased / Sold Interest
Month to Date (4,031.25)
Fiscal Year to Date (186,321.43)
190
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Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
ABS
43815PAC3 HAROT 2022-2 A3 3.73
07/20/2026 36,600.14 08/15/2022

3.73%
36,597.96
36,597.96

99.92 4.49%
36,571.70

49.30 0.02%
(26.26)
NA/AAA
AAA

0.88 0.11
05602RAD3 BMWOT 2022-A A3 3.21
08/25/2026 7,517.38 05/10/2022

3.21%
7,516.99
7,516.99

99.90 4.79%
7,510.05

4.02 0.00%
(6.94)
Aaa/AAA
NA

0.98 0.06
47787JAC2 JDOT 2022 A3 2.32 09/15/2026 20,371.67 03/10/2022

2.33%
20,367.16
20,367.16

99.90 3.79%
20,350.77

21.01 0.01%
(16.40)
Aaa/NA
AAA

1.04 0.07
379929AD4 GMALT 2023-3 A3 5.38
11/20/2026 89,425.22 08/08/2023

5.38%
89,414.50
89,414.50
100.13

4.26%
89,537.53
147.01

0.06%
123.03
NA/AAA
AAA

1.22 0.11
36269FAD8 GMALT 2024-1 A3 5.09
03/22/2027 413,349.17 02/08/2024

5.09%
413,297.50
413,297.50
100.31

4.28%
414,621.45
642.87

0.27%
1,323.95
NA/AAA
AAA

1.56 0.35
05611UAD5 BMWLT 2024-1 A3 4.98
03/25/2027 939,719.50 06/20/2024

5.19%
934,727.24
934,727.24
100.37

4.13%
943,149.57
779.97

0.61%
8,422.33
Aaa/AAA
NA

1.56 0.40
36265WAD5 GMCAR 2022-3 A3 3.64
04/16/2027 56,217.47 07/06/2022

3.64%
56,217.09
56,217.09

99.87 4.52%
56,143.79

85.26 0.04%
(73.30)
Aaa/NA
AAA

1.62 0.15
58770JAD6 MBALT 2024-A A3 5.32
01/18/2028 350,000.00 05/17/2024

5.32%
349,959.05
349,959.05
101.19

4.17%
354,155.06
827.56

0.23%
4,196.01
Aaa/NA
AAA

2.38 0.98
58769GAD5 MBALT 2024-B A3 4.23
02/15/2028 545,000.00 09/17/2024

4.24%
544,908.28
544,908.28
100.11

4.15%
545,609.69
1,024.60

0.35%
701.41
NA/AAA
AAA

2.46 0.96
362962AD4 GMALT 2025-2 A3 4.58
05/22/2028 705,000.00 05/20/2025

4.58%
704,988.30
704,988.30
100.82

4.05%
710,804.97
986.61

0.46%
5,816.67
NA/AAA
AAA

2.73 1.42
437918AC9 HAROT 2024-1 A3 5.21
08/15/2028 1,250,000.00 02/13/2024

5.21%
1,249,945.63
1,249,945.63
100.87

4.20%
1,260,818.50
2,894.44

0.81%
10,872.87
Aaa/AAA
NA

2.96 0.80
161571HT4 CHAIT 2023-1 A 5.16 09/15/2028 1,320,000.00 09/07/2023

5.23%
1,319,634.10
1,319,634.10
101.14

4.07%
1,335,036.78
3,027.20

0.86%
15,402.68
NA/AAA
AAA

3.04 0.99
47800RAD5 JDOT 2024 A3 4.96 11/15/2028 335,000.00 03/11/2024

4.96%
334,981.24
334,981.24
100.95

4.14%
338,181.19
738.49

0.22%
3,199.95
Aaa/NA
AAA

3.21 1.08
096919AD7 BMWOT 2024-A A3 5.18
02/26/2029 600,000.00 06/04/2024

5.18%
599,908.86
599,908.86
101.13

4.06%
606,802.38
518.00

0.39%
6,893.52
Aaa/AAA
NA

3.49 0.96
02582JKH2 AMXCA 2024-1 A 5.23
04/16/2029 640,000.00 04/16/2024

5.23%
639,868.80
639,868.80
102.03

3.97%
652,994.62
1,487.64

0.42%
13,125.82
NA/AAA
AAA

3.62 1.52
58768YAD7 MBALT 2025-A A3 4.61
04/16/2029 770,000.00 05/14/2025

4.61%
769,906.14
769,906.14
101.36

4.00%
780,481.32
1,577.64

0.50%
10,575.18
NA/AAA
AAA

3.62 2.07
47800DAD6 JDOT 2025 A3 4.23 09/17/2029 670,000.00 03/04/2025

4.23%
669,957.86
669,957.86
100.54

3.99%
673,591.33
1,259.60

0.43%
3,633.47
Aaa/NA
AAA

4.05 1.90
191
| 8
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
44935XAD7 HART 2025-B A3 4.36
12/17/2029 585,000.00 06/03/2025

4.36%
584,947.18
584,947.18
100.99

3.90%
590,789.92
1,133.60

0.38%
5,842.74
NA/AAA
AAA

4.30 1.99
92348KDY6 VZMT 2025-3 A1A 4.51
03/20/2030 1,050,000.00 03/25/2025

4.51%
1,049,954.85
1,049,954.85
100.65

4.27%
1,056,861.12
1,446.96

0.68%
6,906.27
Aaa/NA
AAA

4.55 1.47
02582JKP4 AMXCA 2025-2 A 4.28
04/15/2030 1,255,000.00 05/06/2025

4.28%
1,254,977.28
1,254,977.28
101.10

3.87%
1,268,778.65
2,387.29

0.82%
13,801.37
NA/AAA
AAA

4.62 2.43
362549AD9 GMCAR 2025-2 A3 4.28
04/16/2030 370,000.00 05/06/2025

4.28%
369,945.54
369,945.54
100.78

3.82%
372,887.89
659.83

0.24%
2,942.35
Aaa/AAA
NA

4.62 1.57
92970QAJ4 WFCIT 2025-1 A 4.34
05/15/2030 1,210,000.00 06/03/2025

4.33%
1,209,979.91
1,209,979.91
101.26

3.88%
1,225,227.97
2,333.96

0.79%
15,248.06
NA/AAA
AAA

4.70 2.50
Total ABS 13,218,200.56 4.74%
13,212,001.47
13,212,001.47
100.93

4.05%
13,340,906.26
24,032.86

8.62%
128,904.79

3.46 1.43
AGENCY
3133EPW68

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.125
01/22/2026
1,400,000.00 01/24/2024

4.40%
1,392,860.00
1,392,860.00
100.01

4.09%
1,400,087.28
6,256.25

0.90%
7,227.28
Aa1/AA+
AA+

0.39 0.38
3133ERDZ1 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.75 05/08/2026 1,000,000.00 05/20/2024

4.87%
997,690.00
997,690.00
100.52

3.96%
1,005,235.42
14,909.72

0.65%
7,545.42
Aa1/AA+
AA+

0.68 0.66
3130AWLZ1 FEDERAL HOME LOAN BANKS

4.75 06/12/2026 2,000,000.00 08/16/2023

4.78%
1,998,620.00
1,998,620.00
100.62

3.92%
2,012,483.02
20,847.22

1.30%
13,863.02
Aa1/AA+
AA+

0.78 0.75
3133EPZY4 FEDERAL FARM CREDIT BANKS
FUNDING CORP 5.0 07/30/2026 2,000,000.00 11/09/2023

4.85%
2,007,480.00
2,007,480.00
100.96

3.91%
2,019,233.88
8,611.11

1.30%
11,753.88
Aa1/AA+
AA+

0.91 0.88
3133EPSW6 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.5 08/14/2026 2,405,000.00 08/09/2023

4.58%
2,399,468.50
2,399,468.50
100.62

3.83%
2,419,866.39
5,110.63

1.56%
20,397.89
Aa1/AA+
AA+

0.95 0.92
3130AWTQ3 FEDERAL HOME LOAN BANKS

4.625 09/11/2026 4,500,000.00 --

4.81%
4,476,030.00
4,476,030.00
100.75

3.87%
4,533,861.56
98,281.25

2.93%
57,831.56
Aa1/AA+
AA+

1.03 0.97
3130AXU63 FEDERAL HOME LOAN BANKS

4.625 11/17/2026 1,750,000.00 11/30/2023

4.53%
1,754,427.50
1,754,427.50
100.98

3.78%
1,767,187.40
23,381.94

1.14%
12,759.90
Aa1/AA+
AA+

1.21 1.15
3130AYPN0 FEDERAL HOME LOAN BANKS

4.125 01/15/2027 2,000,000.00 01/30/2024

4.21%
1,995,560.00
1,995,560.00
100.46

3.78%
2,009,154.86
10,541.67

1.30%
13,594.86
Aa1/AA+
AA+

1.38 1.31
3133EP6K6 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.5 03/26/2027 1,000,000.00 04/08/2024

4.66%
995,520.00
995,520.00
101.10

3.77%
1,010,950.47
19,375.00

0.65%
15,430.47
Aa1/AA+
AA+

1.57 1.47
3130B0TY5 FEDERAL HOME LOAN BANKS

4.75 04/09/2027 1,500,000.00 04/10/2024

4.84%
1,496,115.00
1,496,115.00
101.61

3.70%
1,524,161.79
28,104.17

0.98%
28,046.79
Aa1/AA+
AA+

1.61 1.51
192
| 9
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
3133ERFJ5 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.5 05/20/2027 1,000,000.00 05/20/2024

4.69%
994,830.00
994,830.00
101.27

3.73%
1,012,707.01
12,625.00

0.65%
17,877.01
Aa1/AA+
AA+

1.72 1.62
3130ATS57 FEDERAL HOME LOAN BANKS 4.5
03/10/2028 3,000,000.00 03/24/2025

4.02%
3,039,480.00
3,039,480.00
102.11

3.62%
3,063,295.17
64,125.00

1.98%
23,815.17
Aa1/AA+
AA+

2.53 2.32
3130AVVX7 FEDERAL HOME LOAN BANKS

3.75 06/09/2028 1,120,000.00 06/07/2023

4.00%
1,107,243.20
1,107,243.20
100.37

3.61%
1,124,141.27
9,566.67

0.73%
16,898.07
Aa1/AA+
AA+

2.77 2.59
3130AWC24 FEDERAL HOME LOAN BANKS 4.0
06/09/2028 2,000,000.00 07/06/2023

4.49%
1,956,940.00
1,956,940.00
101.01

3.61%
2,020,206.86
18,222.22

1.30%
63,266.86
Aa1/AA+
AA+

2.77 2.58
3133EPWK7 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.5 09/22/2028 2,000,000.00 10/12/2023

4.71%
1,981,460.00
1,981,460.00
102.40

3.66%
2,048,001.56
39,750.00

1.32%
66,541.56
Aa1/AA+
AA+

3.06 2.79
Total Agency 28,675,000.00 4.56%
28,593,724.20
28,593,724.20
101.03

3.79%
28,970,573.92
379,707.85

18.71%
376,849.72

1.55 1.46

AGENCY CMBS
3137BM7C4 FHMS K-051 A2 3.308
09/25/2025 339,324.19 06/23/2022

3.30%
338,608.42
338,608.42

99.69 4.29%
338,275.98
935.40

0.22%
(332.44)
Aa1/AA+
AAA

0.07 0.07
3137BSP72 FHMS K-058 A2 2.653
08/25/2026 2,000,000.00 02/09/2023

4.35%
1,890,546.88
1,890,546.88

98.51 4.12%
1,970,149.20
4,421.67

1.27%
79,602.32
Aa1/AA+
AAA

0.98 0.91
3137BTUM1 FHMS K-061 A2 3.347
11/25/2026 862,923.88 09/22/2022

4.23%
831,946.26
831,946.26

98.81 4.25%
852,644.21
2,406.84

0.55%
20,697.95
Aa1/AA+
AAA

1.24 1.11
3137BVZ82 FHMS K-063 A2 3.43 01/25/2027 862,000.00 --

4.09%
839,600.51
839,600.51

99.06 4.05%
853,912.20
2,463.88

0.55%
14,311.69
Aa1/AA+
AAA

1.40 1.21
3137F1G44 FHMS K-065 A2 3.243
04/25/2027 1,000,000.00 09/19/2022

4.08%
965,468.75
965,468.75

98.71 3.99%
987,116.10
2,702.50

0.64%
21,647.35
Aa1/AA+
AAA

1.65 1.49
3137FBU79 FHMS K-069 A2 3.187
09/25/2027 1,222,473.43 05/18/2023

4.13%
1,174,290.79
1,174,290.79

98.50 3.89%
1,204,165.17
3,246.69

0.78%
29,874.39
Aa1/AAA
AA+

2.07 1.91
3137F4X72 FHMS K-075 A2 3.65 02/25/2028 1,165,000.00 09/14/2023

4.92%
1,107,478.13
1,107,478.13

99.27 3.89%
1,156,546.41
3,543.54

0.75%
49,068.28
Aa1/AA+
AAA

2.49 2.30
3137FJEH8 FHMS K-081 A2 3.9 08/25/2028 1,250,000.00 05/28/2024

4.94%
1,197,265.63
1,197,265.63

99.91 3.87%
1,248,918.25
4,062.50

0.81%
51,652.62
Aa1/AA+
AAA

2.99 2.74
3137FK4M5 FHMS K-085 A2 4.06 10/25/2028 2,000,000.00 05/07/2025

4.12%
1,990,703.13
1,990,703.13
100.34

3.88%
2,006,760.00
6,766.67

1.30%
16,056.87
Aaa/AA+
AA+

3.15 2.87
3137H5YC5 FHMS K-748 A2 2.26 01/25/2029 1,500,000.00 08/19/2024

4.12%
1,385,332.03
1,385,332.03

94.75 3.94%
1,421,216.85
2,825.00

0.92%
35,884.82
Aa1/AA+
AAA

3.40 3.13
3137FLMV3 FHMS K-090 A2 3.422
02/25/2029 2,000,000.00 03/27/2025

4.30%
1,932,500.00
1,932,500.00

98.34 3.90%
1,966,741.20
5,703.33

1.27%
34,241.20
Aa1/AAA
AA+

3.49 3.17
193
| 10
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
3137HA4B9 FHMS K-751 A2 4.412
03/25/2030 2,000,000.00 03/26/2025

4.37%
1,997,890.63
1,997,890.63
101.40

4.01%
2,028,043.20
7,353.33

1.31%
30,152.57
Aaa/AA+
AA+

4.56 3.78
Total Agency CMBS 16,201,721.49 4.31%
15,651,631.17
15,651,631.17

99.00 3.98%
16,034,488.78
46,431.35

10.35%
382,857.61

2.63 2.36
CASH
CCYUSD Receivable 135,930.18 -- 135,930.18
135,930.18

1.00 0.00%
135,930.18

0.00 0.09%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 135,930.18
135,930.18
135,930.18

1.00 0.00%
135,930.18

0.00 0.09%

0.00 0.00

0.00 CORPORATE
437076CR1 HOME DEPOT INC 4.0
09/15/2025 1,000,000.00 09/14/2022

4.13%
996,380.00
996,380.00

99.96 4.97%
999,616.26
18,444.44

0.65%
3,236.26
A2/A
A

0.04 0.04
023135CN4 AMAZON.COM INC 4.6
12/01/2025 425,000.00 11/29/2022

4.60%
424,974.50
424,974.50
100.11

4.10%
425,467.65
4,887.50

0.27%
493.15
A1/AA
AA-

0.25 0.24
037833BY5 APPLE INC 3.25 02/23/2026 1,000,000.00 02/22/2023

4.72%
959,390.00
959,390.00

99.52 4.27%
995,237.14
722.22

0.64%
35,847.14
Aaa/AA+
NA

0.48 0.47
57629W6F2

MASSMUTUAL GLOBAL
FUNDING II 4.5 04/10/2026 750,000.00 04/04/2023

4.52%
749,482.50
749,482.50
100.18

4.19%
751,341.10
13,218.75

0.49%
1,858.60
Aa3/AA+
AA+

0.61 0.58
00440EAV9 CHUBB INA HOLDINGS LLC 3.35
05/03/2026 1,000,000.00 09/13/2023

5.23%
954,220.00
954,220.00

99.41 4.25%
994,080.73
10,980.56

0.64%
39,860.73
A2/A
A

0.67 0.65
58989V2F0 MET TOWER GLOBAL FUNDING

5.4 06/20/2026 1,000,000.00 06/12/2023

5.38%
1,000,440.00
1,000,440.00
100.87

4.27%
1,008,736.54
10,650.00

0.65%
8,296.54
Aa3/AA-
AA-

0.80 0.77
69371RS56 PACCAR FINANCIAL CORP 5.05
08/10/2026 1,450,000.00 --

4.99%
1,451,925.00
1,451,925.00
100.87

4.09%
1,462,656.69
4,271.46

0.94%
10,731.69
A1/A+
NA

0.94 0.91
06428CAA2 BANK OF AMERICA NA 5.526
08/18/2026 1,000,000.00 09/13/2023

5.57%
998,810.00
998,810.00
101.25

4.18%
1,012,516.97
1,995.50

0.65%
13,706.97
Aa2/A+
AA

0.96 0.85
713448FW3 PEPSICO INC 5.125 11/10/2026 510,000.00 11/08/2023

5.13%
509,862.30
509,862.30
101.27

4.02%
516,459.80
8,059.06

0.33%
6,597.50
A1/A+
NA

1.19 1.05
48125LRU8 JPMORGAN CHASE BANK NA

5.11 12/08/2026 1,575,000.00 --

5.08%
1,576,460.00
1,576,460.00
101.29

4.05%
1,595,302.30
18,555.69

1.03%
18,842.30
Aa2/AA-
AA

1.27 1.13
24422EXF1 JOHN DEERE CAPITAL CORP 4.5
01/08/2027 1,000,000.00 01/10/2024

4.52%
999,460.00
999,460.00
100.76

3.91%
1,007,587.37
6,625.00

0.65%
8,127.37
A1/A
A+

1.36 1.29
78016HZT0 ROYAL BANK OF CANADA 4.875
01/19/2027 1,245,000.00 01/10/2024

4.88%
1,244,688.75
1,244,688.75
101.21

3.97%
1,260,009.93
7,080.94

0.81%
15,321.18
A1/A
AA-

1.39 1.32
194
| 11
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
17275RBQ4 CISCO SYSTEMS INC 4.8
02/26/2027 1,500,000.00 02/29/2024

4.78%
1,500,810.00
1,500,810.00
101.25

3.92%
1,518,781.32
1,000.00

0.98%
17,971.32
A1/AA-
NA

1.49 1.34
857477CL5 STATE STREET CORP 4.993
03/18/2027 1,210,000.00 03/13/2024

4.99%
1,210,000.00
1,210,000.00
101.55

3.95%
1,228,695.33
27,354.71

0.79%
18,695.33
Aa3/A
AA-

1.54 1.37
665859AW4 NORTHERN TRUST CORP 4.0
05/10/2027 1,000,000.00 09/14/2022

4.23%
990,460.00
990,460.00
100.04

3.97%
1,000,400.48
12,333.33

0.65%
9,940.48
A2/A+
A+

1.69 1.60
009158AY2 AIR PRODUCTS AND CHEMICALS
INC 1.85 05/15/2027 1,500,000.00 02/09/2024

4.71%
1,371,945.00
1,371,945.00

96.61 3.92%
1,449,200.42
8,170.83

0.94%
77,255.42
A2/A
NA

1.70 1.64
437076DB5 HOME DEPOT INC 4.875
06/25/2027 740,000.00 --

4.95%
738,545.60
738,545.60
101.60

3.95%
751,871.94
6,613.75

0.49%
13,326.34
A2/A
A

1.82 1.63
09290DAH4 BLACKROCK INC 4.6 07/26/2027 750,000.00 07/18/2024

4.57%
750,645.00
750,645.00
101.25

3.91%
759,406.91
3,354.17

0.49%
8,761.91
Aa3/AA-
NA

1.90 1.72
532457CP1 ELI LILLY AND CO 4.15
08/14/2027 1,250,000.00 08/22/2024

4.10%
1,251,637.50
1,251,637.50
100.58

3.84%
1,257,235.09
2,449.65

0.81%
5,597.59
Aa3/A+
NA

1.95 1.78
023135BC9 AMAZON.COM INC 3.15
08/22/2027 1,000,000.00 07/30/2024

4.55%
960,450.00
960,450.00

98.71 3.83%
987,142.02
787.50

0.64%
26,692.02
A1/AA
AA-

1.97 1.89
89236TKJ3 TOYOTA MOTOR CREDIT CORP

4.55 09/20/2027 1,000,000.00 06/20/2024

4.89%
989,900.00
989,900.00
101.13

3.97%
1,011,269.39
20,348.61

0.65%
21,369.39
A1/A+
A+

2.05 1.90
64952WFJ7 NEW YORK LIFE GLOBAL
FUNDING 3.9 10/01/2027 1,000,000.00 09/25/2024

3.91%
999,820.00
999,820.00

99.71 4.04%
997,123.89
16,250.00

0.64%
(2,696.11)
Aa1/AA+
AAA

2.08 1.95
91324PDE9 UNITEDHEALTH GROUP INC 2.95
10/15/2027 1,250,000.00 07/30/2024

4.60%
1,189,300.00
1,189,300.00

97.78 4.05%
1,222,262.61
13,930.56

0.79%
32,962.61
A2/A+
A

2.12 2.01
24422EXZ7 JOHN DEERE CAPITAL CORP 4.65
01/07/2028 700,000.00 01/06/2025

4.66%
699,790.00
699,790.00
101.66

3.90%
711,648.33
4,882.50

0.46%
11,858.33
A1/A
A+

2.35 2.19
64952WCX9 NEW YORK LIFE GLOBAL
FUNDING 3.0 01/10/2028 1,000,000.00 08/26/2025

4.04%
976,720.00
976,720.00

97.68 4.04%
976,834.67
4,250.00

0.63%
114.67
Aa1/AA+
AAA

2.36 2.24
63743HFW7

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE CORP

4.75 02/07/2028
1,500,000.00 06/17/2025

4.40%
1,512,345.00
1,512,345.00
101.57

4.07%
1,523,476.31
4,750.00

0.98%
11,131.31
A2/NA
A

2.44 2.20
57629TBW6 MASSMUTUAL GLOBAL
FUNDING II 4.45 03/27/2028 1,340,000.00 03/20/2025

4.49%
1,338,405.40
1,338,405.40
101.16

3.97%
1,355,555.38
25,508.39

0.88%
17,149.98
Aa3/AA+
AA+

2.57 2.37
74456QBU9 PUBLIC SERVICE ELECTRIC AND
GAS CO 3.7 05/01/2028 750,000.00 06/22/2023

4.79%
715,005.00
715,005.00

99.46 3.91%
745,951.22
9,250.00

0.48%
30,946.22
A1/A
NA

2.67 2.48
341081GN1 FLORIDA POWER & LIGHT CO 4.4
05/15/2028 1,500,000.00 05/22/2023

4.64%
1,484,025.00
1,484,025.00
100.93

4.03%
1,513,980.41
19,433.33

0.98%
29,955.41
Aa2/A+
AA-

2.71 2.35
195
| 12
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
90331HPS6 US BANK NA 4.73 05/15/2028 1,330,000.00 05/12/2025

4.88%
1,330,000.00
1,330,000.00
100.91

4.56%
1,342,058.15
18,523.21

0.87%
12,058.15
A2/A+
A+

2.71 1.60
87612EBU9 TARGET CORP 4.35 06/15/2028 570,000.00 06/05/2025

4.35%
569,994.30
569,994.30
101.04

3.95%
575,953.65
5,578.88

0.37%
5,959.35
A2/A
A

2.79 2.51
26444HAE1 DUKE ENERGY FLORIDA LLC 3.8
07/15/2028 1,000,000.00 06/04/2025

4.32%
985,120.00
985,120.00

99.63 3.94%
996,318.06
4,855.56

0.64%
11,198.06
A1/A
NA

2.87 2.68
66815L2X6

NORTHWESTERN MUTUAL
GLOBAL FUNDING 4.125
08/25/2028
1,000,000.00 08/25/2025

4.03%
1,002,660.00
1,002,660.00
100.35

4.00%
1,003,483.92
687.50

0.65%
823.92
Aa1/AA+
AAA

2.99 2.78
74456QBX3 PUBLIC SERVICE ELECTRIC AND
GAS CO 3.65 09/01/2028 1,000,000.00 07/24/2025

4.23%
983,400.00
983,400.00

98.97 4.02%
989,742.13
18,250.00

0.64%
6,342.13
A1/A
NA

3.00 2.81
713448GL6 PEPSICO INC 4.1 01/15/2029 1,000,000.00 07/24/2025

4.19%
997,190.00
997,190.00
100.23

4.02%
1,002,340.11
4,327.78

0.65%
5,150.11
A1/A+
NA

3.38 3.03
06368MJG0 BANK OF MONTREAL 5.004
01/27/2029 1,500,000.00 01/24/2025

4.96%
1,501,860.00
1,501,860.00
102.00

4.37%
1,530,070.70
7,089.00

0.99%
28,210.70
A2/A-
AA-

3.41 2.24
Total Corporate 38,345,000.00 4.65%
37,916,120.85
37,916,120.85
100.37

4.07%
38,479,814.89
345,470.36

24.85%
563,694.04

1.89 1.68

MONEY MARKET
FUND
31846V567 FIRST AMER:GVT OBLG Z 1,647,609.46 --

4.17%
1,647,609.46
1,647,609.46

1.00 4.17%
1,647,609.46

0.00 1.06%

0.00 Aaa/
AAAm
AAA

0.00 0.00
Total Money
Market Fund 1,647,609.46 4.17%
1,647,609.46
1,647,609.46

1.00 4.17%
1,647,609.46

0.00 1.06%

0.00 0.00

0.00 SUPRANATIONAL
459058LT8

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.625 05/05/2028
1,335,000.00 04/29/2025

3.70%
1,332,036.30
1,332,036.30
100.02

3.62%
1,335,234.59
15,459.11

0.86%
3,198.29
Aaa/AAA
NA

2.68 2.50
459058KT9

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.5 07/12/2028
500,000.00 07/24/2023

4.26%
483,115.00
483,115.00

99.61 3.64%
498,070.83
2,381.94

0.32%
14,955.83
Aaa/AAA
NA

2.87 2.69
Total
Supranational 1,835,000.00 3.86%
1,815,151.30
1,815,151.30

99.91 3.62%
1,833,305.42
17,841.06

1.18%
18,154.12

2.73 2.55
196
| 13
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

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

US TREASURY
9128285C0 UNITED STATES TREASURY 3.0
09/30/2025 3,250,000.00 --

2.90%
3,259,882.81
3,259,882.81

99.89 4.37%
3,246,471.96
41,024.59

2.10%
(13,410.85)
Aa1/AA+
AA+

0.08 0.08
9128285J5 UNITED STATES TREASURY 3.0
10/31/2025 2,500,000.00 06/23/2022

3.02%
2,498,632.81
2,498,632.81

99.78 4.33%
2,494,521.48
25,271.74

1.61%
(4,111.34)
Aa1/AA+
AA+

0.17 0.16
912828M56 UNITED STATES TREASURY 2.25
11/15/2025 2,500,000.00 06/23/2022

3.11%
2,431,152.34
2,431,152.34

99.59 4.26%
2,489,843.75
16,661.01

1.61%
58,691.41
Aa1/AA+
AA+

0.21 0.20
9128285T3 UNITED STATES TREASURY 2.625
12/31/2025 2,500,000.00 09/14/2022

3.76%
2,412,792.97
2,412,792.97

99.50 4.15%
2,487,573.25
11,234.71

1.61%
74,780.28
Aa1/AA+
AA+

0.33 0.32
9128286L9 UNITED STATES TREASURY 2.25
03/31/2026 2,500,000.00 09/14/2022

3.74%
2,377,832.03
2,377,832.03

99.00 4.03%
2,474,921.88
23,668.03

1.60%
97,089.85
Aa1/AA+
AA+

0.58 0.56
91282CGV7 UNITED STATES TREASURY 3.75
04/15/2026 2,000,000.00 03/20/2024

4.63%
1,965,703.13
1,965,703.13

99.85 3.99%
1,997,093.74
28,483.61

1.29%
31,390.61
Aa1/AA+
AA+

0.62 0.60
912828U24 UNITED STATES TREASURY 2.0
11/15/2026 3,000,000.00 09/13/2023

4.66%
2,767,031.25
2,767,031.25

97.89 3.81%
2,936,835.93
17,771.74

1.90%
169,804.68
Aa1/AA+
AA+

1.21 1.16
912828YX2 UNITED STATES TREASURY 1.75
12/31/2026 1,750,000.00 12/27/2023

3.96%
1,641,240.23
1,641,240.23

97.41 3.77%
1,704,746.09
5,242.87

1.10%
63,505.85
Aa1/AA+
AA+

1.33 1.29
91282CEF4 UNITED STATES TREASURY 2.5
03/31/2027 2,500,000.00 11/17/2022

4.02%
2,349,414.06
2,349,414.06

98.17 3.70%
2,454,296.88
26,297.81

1.58%
104,882.82
Aa1/AA+
AA+

1.58 1.51
91282CEW7 UNITED STATES TREASURY 3.25
06/30/2027 1,300,000.00 12/12/2022

3.87%
1,266,687.50
1,266,687.50

99.30 3.65%
1,290,910.15
7,233.02

0.83%
24,222.65
Aa1/AA+
AA+

1.83 1.75
91282CFB2 UNITED STATES TREASURY 2.75
07/31/2027 2,000,000.00 07/26/2023

4.30%
1,887,109.38
1,887,109.38

98.35 3.65%
1,966,953.12
4,782.61

1.27%
79,843.74
Aa1/AA+
AA+

1.91 1.84
91282CFH9 UNITED STATES TREASURY 3.125
08/31/2027 2,500,000.00 01/24/2023

3.65%
2,445,117.19
2,445,117.19

99.04 3.63%
2,476,074.23
215.81

1.60%
30,957.04
Aa1/AA+
AA+

2.00 1.91
91282CFM8 UNITED STATES TREASURY 4.125
09/30/2027 1,600,000.00 02/22/2023

4.19%
1,595,500.00
1,595,500.00
101.01

3.62%
1,616,124.99
27,770.49

1.04%
20,624.99
Aa1/AA+
AA+

2.08 1.94
9128283F5 UNITED STATES TREASURY 2.25
11/15/2027 1,400,000.00 06/07/2023

4.05%
1,298,937.50
1,298,937.50

97.14 3.61%
1,359,914.07
9,330.16

0.88%
60,976.57
Aa1/AA+
AA+

2.21 2.11
91282CGH8 UNITED STATES TREASURY 3.5
01/31/2028 1,500,000.00 11/26/2024

4.24%
1,467,070.31
1,467,070.31

99.77 3.60%
1,496,542.97
4,565.22

0.97%
29,472.66
Aa1/AA+
AA+

2.42 2.28
9128283W8 UNITED STATES TREASURY 2.75
02/15/2028 2,750,000.00 09/27/2024

3.51%
2,684,257.81
2,684,257.81

98.04 3.59%
2,695,966.79
3,493.55

1.74%
11,708.98
Aa1/AA+
AA+

2.46 2.34
9128284V9 UNITED STATES TREASURY 2.875
08/15/2028 2,500,000.00 11/12/2024

4.34%
2,374,804.69
2,374,804.69

98.01 3.59%
2,450,292.98
3,320.31

1.58%
75,488.29
Aa1/AA+
AA+

2.96 2.80
197
| 14
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
9128285M8 UNITED STATES TREASURY 3.125
11/15/2028 2,000,000.00 04/22/2024

4.72%
1,870,625.00
1,870,625.00

98.57 3.60%
1,971,484.38
18,512.23

1.27%
100,859.38
Aa1/AA+
AA+

3.21 2.99
91282CKD2 UNITED STATES TREASURY 4.25
02/28/2029 2,250,000.00 01/30/2025

4.31%
2,244,726.56
2,244,726.56
102.09

3.61%
2,297,021.49
264.16

1.48%
52,294.93
Aa1/AA+
AA+

3.50 3.23
91282CLC3 UNITED STATES TREASURY 4.0
07/31/2029 2,000,000.00 10/29/2024

4.10%
1,991,093.75
1,991,093.75
101.32

3.63%
2,026,406.24
6,956.52

1.31%
35,312.49
Aa1/AA+
AA+

3.91 3.58
91282CFJ5 UNITED STATES TREASURY 3.125
08/31/2029 2,750,000.00 12/17/2024

4.26%
2,618,730.47
2,618,730.47

98.13 3.63%
2,698,437.50
237.40

1.74%
79,707.03
Aa1/AA+
AA+

4.00 3.72
91282CFT3 UNITED STATES TREASURY 4.0
10/31/2029 1,700,000.00 02/12/2025

4.49%
1,665,203.13
1,665,203.13
101.35

3.65%
1,722,976.55
22,913.04

1.11%
57,773.42
Aa1/AA+
AA+

4.17 3.76
91282CFY2 UNITED STATES TREASURY 3.875
11/30/2029 3,000,000.00 03/24/2025

4.06%
2,976,679.69
2,976,679.69
100.85

3.66%
3,025,546.86
29,538.93

1.95%
48,867.17
Aa1/AA+
AA+

4.25 3.85
91282CGB1 UNITED STATES TREASURY 3.875
12/31/2029 3,000,000.00 07/30/2025

3.91%
2,995,312.50
2,995,312.50
100.86

3.66%
3,025,898.43
19,901.49

1.95%
30,585.93
Aa1/AA+
AA+

4.33 3.93
Total US Treasury 54,750,000.00 3.95%
53,085,537.11
53,085,537.11

99.39 3.80%
54,406,855.68
354,691.06

35.14%
1,321,318.57

2.12 1.98
Total Portfolio 154,808,461.69 4.35%
152,057,705.74
152,057,705.74

98.91 3.91%
154,849,484.58
1,168,174.53
100.00%
2,791,778.85

2.11 1.78
Total Market Value
+ Accrued 156,017,659.12
198
| 15
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 08/04/2025 31846V567 5,846.33 FIRST AMER:GVT OBLG Z 1.000 4.18% (5,846.33) 0.00 (5,846.33) 0.00 Purchase 08/07/2025 31846V567 35,625.00 FIRST AMER:GVT OBLG Z 1.000 4.17% (35,625.00) 0.00 (35,625.00) 0.00 Purchase 08/11/2025 31846V567 36,612.50 FIRST AMER:GVT OBLG Z 1.000 4.18% (36,612.50) 0.00 (36,612.50) 0.00 Purchase 08/12/2025 31846V567 25,093.75 FIRST AMER:GVT OBLG Z 1.000 4.18% (25,093.75) 0.00 (25,093.75) 0.00 Purchase 08/12/2025 31846V567 1,375,000.00 FIRST AMER:GVT OBLG Z 1.000 4.18% (1,375,000.00) 0.00 (1,375,000.00) 0.00 Purchase 08/14/2025 31846V567 80,050.00 FIRST AMER:GVT OBLG Z 1.000 4.18% (80,050.00) 0.00 (80,050.00) 0.00 Purchase 08/15/2025 31846V567 1,128,614.96 FIRST AMER:GVT OBLG Z 1.000 4.17% (1,128,614.96) 0.00 (1,128,614.96) 0.00 Purchase 08/15/2025 31846V567 8,634.08 FIRST AMER:GVT OBLG Z 1.000 4.17% (8,634.08) 0.00 (8,634.08) 0.00 Purchase 08/18/2025 31846V567 27,630.00 FIRST AMER:GVT OBLG Z 1.000 4.18% (27,630.00) 0.00 (27,630.00) 0.00 Purchase 08/18/2025 31846V567 33,397.15 FIRST AMER:GVT OBLG Z 1.000 4.18% (33,397.15) 0.00 (33,397.15) 0.00 Purchase 08/20/2025 31846V567 86,228.56 FIRST AMER:GVT OBLG Z 1.000 4.19% (86,228.56) 0.00 (86,228.56) 0.00 Purchase 08/22/2025 31846V567 15,750.00 FIRST AMER:GVT OBLG Z 1.000 4.16% (15,750.00) 0.00 (15,750.00) 0.00 Purchase 08/25/2025 31846V567 94,806.36 FIRST AMER:GVT OBLG Z 1.000 4.18% (94,806.36) 0.00 (94,806.36) 0.00 Purchase 08/25/2025 31846V567 390,275.57 FIRST AMER:GVT OBLG Z 1.000 4.18% (390,275.57) 0.00 (390,275.57) 0.00 Purchase 08/26/2025 66815L2X6 1,000,000.00

NORTHWESTERN

MUTUAL GLOBAL
FUNDING 4.125
08/25/2028
100.266 4.03% (1,002,660.00) (114.58) (1,002,774.58) 0.00 Purchase 08/27/2025 64952WCX9 1,000,000.00 NEW YORK LIFE GLOBAL FUNDING 3.0 01/10/2028 97.672 4.04% (976,720.00) (3,916.67) (980,636.67) 0.00 Total Purchase 5,343,564.26 (5,322,944.26) (4,031.25) (5,326,975.51) 0.00 TOTAL
ACQUISITIONS 5,343,564.26 (5,322,944.26) (4,031.25) (5,326,975.51) 0.00

DISPOSITIONS
Maturity 08/12/2025 14913R2Z9 (1,375,000.00)

CATERPILLAR FINANCIAL
SERVICES CORP 3.65
08/12/2025
100.000 3.69% 1,375,000.00 0.00 1,375,000.00 1,663.75
Maturity 08/15/2025 26442UAA2 (1,000,000.00) DUKE ENERGY PROGRESS LLC 3.25 08/15/2025 100.000 3.57% 1,000,000.00 0.00 1,000,000.00 9,290.00 Total Maturity (2,375,000.00) 2,375,000.00 0.00 2,375,000.00 10,953.75 199
| 16
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Sale 08/26/2025 31846V567 (967,774.58) FIRST AMER:GVT OBLG Z 1.000 4.20% 967,774.58 0.00 967,774.58 0.00 Sale 08/27/2025 31846V567 (980,636.67) FIRST AMER:GVT OBLG Z 1.000 4.20% 980,636.67 0.00 980,636.67 0.00 Total Sale (1,948,411.25) 1,948,411.25 0.00 1,948,411.25 0.00 TOTAL
DISPOSITIONS (4,323,411.25) 4,323,411.25 0.00 4,323,411.25 10,953.75 OTHER

TRANSACTIONS
Coupon 08/01/2025 3137FJEH8 0.00 FHMS K-081 A2 3.9
08/25/2028 4.94% 4,062.50 0.00 4,062.50 0.00
Coupon 08/01/2025 3137F4X72 0.00 FHMS K-075 A2 3.65
02/25/2028 4.92% 3,543.54 0.00 3,543.54 0.00
Coupon 08/01/2025 3137HA4B9 0.00 FHMS K-751 A2 4.412
03/25/2030 4.37% 7,353.33 0.00 7,353.33 0.00
Coupon 08/01/2025 3137BSP72 0.00 FHMS K-058 A2 2.653
08/25/2026 4.35% 4,421.67 0.00 4,421.67 0.00
Coupon 08/01/2025 3137FLMV3 0.00 FHMS K-090 A2 3.422
02/25/2029 4.30% 5,703.33 0.00 5,703.33 0.00
Coupon 08/01/2025 3137BTUM1 0.00 FHMS K-061 A2 3.347
11/25/2026 4.23% 2,411.81 0.00 2,411.81 0.00
Coupon 08/01/2025 3137FBU79 0.00 FHMS K-069 A2 3.187
09/25/2027 4.13% 3,252.14 0.00 3,252.14 0.00
Coupon 08/01/2025 3137FK4M5 0.00 FHMS K-085 A2 4.06
10/25/2028 4.12% 6,766.67 0.00 6,766.67 0.00
Coupon 08/01/2025 3137H5YC5 0.00 FHMS K-748 A2 2.26
01/25/2029 4.12% 2,825.00 0.00 2,825.00 0.00
Coupon 08/01/2025 3137BVZ82 0.00 FHMS K-063 A2 3.43
01/25/2027 4.09% 2,463.88 0.00 2,463.88 0.00
Coupon 08/01/2025 3137F1G44 0.00 FHMS K-065 A2 3.243
04/25/2027 4.08% 2,702.50 0.00 2,702.50 0.00
Coupon 08/01/2025 3137BM7C4 0.00 FHMS K-051 A2 3.308
09/25/2025 3.30% 1,870.09 0.00 1,870.09 0.00
200
| 17
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 08/07/2025 63743HFW7 0.00

NATIONAL RURAL

UTILITIES COOPERATIVE
FINANCE CORP 4.75
02/07/2028

4.40% 35,625.00 0.00 35,625.00 0.00
Coupon 08/10/2025 69371RS56 0.00 PACCAR FINANCIAL CORP

5.05 08/10/2026 4.99% 36,612.50 0.00 36,612.50 0.00
Coupon 08/12/2025 14913R2Z9 0.00

CATERPILLAR FINANCIAL
SERVICES CORP 3.65
08/12/2025

3.69% 25,093.75 0.00 25,093.75 0.00
Coupon 08/14/2025 3133EPSW6 0.00

FEDERAL FARM CREDIT

BANKS FUNDING CORP

4.5 08/14/2026

4.58% 54,112.50 0.00 54,112.50 0.00
Coupon 08/14/2025 532457CP1 0.00 ELI LILLY AND CO 4.15
08/14/2027 4.10% 25,937.50 0.00 25,937.50 0.00
Coupon 08/15/2025 58770JAD6 0.00 MBALT 2024-A A3 5.32
01/18/2028 5.32% 1,551.67 0.00 1,551.67 0.00
Coupon 08/15/2025 02582JKH2 0.00 AMXCA 2024-1 A 5.23
04/16/2029 5.23% 2,789.33 0.00 2,789.33 0.00
Coupon 08/15/2025 161571HT4 0.00 CHAIT 2023-1 A 5.16
09/15/2028 5.23% 5,676.00 0.00 5,676.00 0.00
Coupon 08/15/2025 437918AC9 0.00 HAROT 2024-1 A3 5.21
08/15/2028 5.21% 5,427.08 0.00 5,427.08 0.00
Coupon 08/15/2025 47800RAD5 0.00 JDOT 2024 A3 4.96
11/15/2028 4.96% 1,384.67 0.00 1,384.67 0.00
Coupon 08/15/2025 58768YAD7 0.00 MBALT 2025-A A3 4.61
04/16/2029 4.61% 2,958.08 0.00 2,958.08 0.00
Coupon 08/15/2025 44935XAD7 0.00 HART 2025-B A3 4.36
12/17/2029 4.36% 2,125.50 0.00 2,125.50 0.00
Coupon 08/15/2025 9128284V9 0.00 UNITED STATES TREASURY

2.875 08/15/2028 4.34% 35,937.50 0.00 35,937.50 0.00
Coupon 08/15/2025 92970QAJ4 0.00 WFCIT 2025-1 A 4.34
05/15/2030 4.33% 4,376.17 0.00 4,376.17 0.00
Coupon 08/15/2025 02582JKP4 0.00 AMXCA 2025-2 A 4.28
04/15/2030 4.28% 4,476.17 0.00 4,476.17 0.00
201
| 18
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 08/15/2025 58769GAD5 0.00 MBALT 2024-B A3 4.23
02/15/2028 4.24% 1,921.13 0.00 1,921.13 0.00
Coupon 08/15/2025 47800DAD6 0.00 JDOT 2025 A3 4.23
09/17/2029 4.23% 2,361.75 0.00 2,361.75 0.00
Coupon 08/15/2025 26442UAA2 0.00 DUKE ENERGY PROGRESS
LLC 3.25 08/15/2025 3.57% 16,250.00 0.00 16,250.00 0.00 Coupon 08/15/2025 9128283W8 0.00 UNITED STATES TREASURY

2.75 02/15/2028 3.51% 37,812.50 0.00 37,812.50 0.00
Coupon 08/15/2025 47787JAC2 0.00 JDOT 2022 A3 2.32
09/15/2026 2.33% 62.85 0.00 62.85 0.00
Coupon 08/16/2025 362549AD9 0.00 GMCAR 2025-2 A3 4.28
04/16/2030 4.28% 1,319.67 0.00 1,319.67 0.00
Coupon 08/16/2025 36265WAD5 0.00 GMCAR 2022-3 A3 3.64
04/16/2027 3.64% 215.70 0.00 215.70 0.00
Coupon 08/18/2025 06428CAA2 0.00 BANK OF AMERICA NA

5.526 08/18/2026 5.57% 27,630.00 0.00 27,630.00 0.00
Coupon 08/18/2025 43815PAC3 0.00 HAROT 2022-2 A3 3.73
07/20/2026 3.73% 166.00 0.00 166.00 0.00
Coupon 08/20/2025 379929AD4 0.00 GMALT 2023-3 A3 5.38
11/20/2026 5.38% 559.86 0.00 559.86 0.00
Coupon 08/20/2025 36269FAD8 0.00 GMALT 2024-1 A3 5.09
03/22/2027 5.09% 1,929.96 0.00
1,929.96 0.00
Coupon 08/20/2025 362962AD4 0.00 GMALT 2025-2 A3 4.58
05/22/2028 4.58% 2,690.75 0.00 2,690.75 0.00
Coupon 08/20/2025 92348KDY6 0.00 VZMT 2025-3 A1A 4.51
03/20/2030 4.51% 3,946.25 0.00 3,946.25 0.00
Coupon 08/22/2025 023135BC9 0.00 AMAZON.COM INC 3.15
08/22/2027 4.55% 15,750.00 0.00 15,750.00 0.00
Coupon 08/23/2025 037833BY5 0.00 APPLE INC 3.25
02/23/2026 4.72% 16,250.00 0.00 16,250.00 0.00
Coupon 08/25/2025 05611UAD5 0.00 BMWLT 2024-1 A3 4.98
03/25/2027 5.19% 4,150.00 0.00 4,150.00 0.00
Coupon 08/25/2025 096919AD7 0.00 BMWOT 2024-A A3 5.18
02/26/2029 5.18% 2,590.00 0.00 2,590.00 0.00
202
| 19
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 08/25/2025 05602RAD3 0.00 BMWOT 2022-A A3 3.21
08/25/2026 3.21% 50.83 0.00 50.83 0.00
Coupon 08/26/2025 17275RBQ4 0.00 CISCO SYSTEMS INC 4.8
02/26/2027 4.78% 36,000.00 0.00 36,000.00 0.00
Coupon 08/31/2025 91282CKD2 0.00 UNITED STATES TREASURY

4.25 02/28/2029 4.31% 47,812.50 0.00 47,812.50 0.00
Coupon 08/31/2025 91282CFJ5 0.00 UNITED STATES TREASURY

3.125 08/31/2029 4.26% 42,968.75 0.00 42,968.75 0.00
Coupon 08/31/2025 91282CFH9 0.00 UNITED STATES TREASURY

3.125 08/31/2027 3.65% 39,062.50 0.00 39,062.50 0.00
Total Coupon 0.00 592,960.88 0.00 592,960.88 0.00
Custody Fee 08/26/2025 CCYUSD (1,000.00) Cash 0.00% (1,000.00) 0.00 (1,000.00) 0.00 Total Custody Fee (1,000.00) (1,000.00) 0.00 (1,000.00) 0.00 Dividend 08/31/2025 31846V567 0.00 FIRST AMER:GVT OBLG Z 4.17% 6,086.43 0.00 6,086.43 0.00 Total Dividend 0.00 6,086.43 0.00 6,086.43 0.00
Principal Paydown 08/01/2025 3137BTUM1 1,781.56 FHMS K-061 A2 3.347 11/25/2026 4.23% 1,781.56 -- 1,781.56 63.96
Principal Paydown 08/01/2025 3137FBU79 2,053.43 FHMS K-069 A2 3.187 09/25/2027 4.13% 2,053.43 -- 2,053.43 80.94
Principal Paydown 08/01/2025 3137BM7C4 339,064.12
FHMS K-051 A2 3.308
09/25/2025 3.30% 339,064.12 -- 339,064.12 715.22
Principal Paydown 08/15/2025 47787JAC2 12,138.64 JDOT 2022 A3 2.32 09/15/2026 2.33% 12,138.64 -- 12,138.64 2.68
Principal Paydown 08/16/2025 36265WAD5 14,892.12 GMCAR 2022-3 A3 3.64 04/16/2027 3.64% 14,892.12 -- 14,892.12 0.10
Principal Paydown 08/18/2025 43815PAC3 16,803.66 HAROT 2022-2 A3 3.73 07/20/2026 3.73% 16,803.66 -- 16,803.66 1.00
Principal Paydown 08/20/2025 379929AD4 35,450.90 GMALT 2023-3 A3 5.38 11/20/2026 5.38% 35,450.90 -- 35,450.90 4.25
Principal Paydown 08/20/2025 36269FAD8 41,650.84 GMALT 2024-1 A3 5.09 03/22/2027 5.09% 41,650.84 -- 41,650.84 5.21
Principal Paydown 08/25/2025 05611UAD5 60,280.50 BMWLT 2024-1 A3 4.98 03/25/2027 5.19% 60,280.50 -- 60,280.50 320.24
203
| 20
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Principal Paydown 08/25/2025 05602RAD3 11,485.03 BMWOT 2022-A A3 3.21 08/25/2026 3.21% 11,485.03 -- 11,485.03 0.59
Total Principal
Paydown 535,600.80 535,600.80 -- 535,600.80 1,194.19

TOTAL OTHER
TRANSACTIONS 534,600.80 1,133,648.11 0.00 1,133,648.11 1,194.19 204
| 21
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income

CASH & EQUIVALENTS
31846V567 FIRST AMER:GVT OBLG Z
1,647,609.46
252,456.45
3,343,564.26
(1,948,411.25)
1,647,609.46

0.00 5,846.33

0.00 5,846.33

0.00 0.00

0.00 5,846.33
5,846.33
CCYUSD Receivable
135,930.18
5,846.33

0.00 0.00
135,930.18

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 Total Cash & Equivalents 1,783,539.64
258,302.78
3,343,564.26
(1,948,411.25)
1,783,539.64

0.00 5,846.33

0.00 5,846.33

0.00 0.00

0.00 5,846.33 5,846.33

FIXED INCOME
00440EAV9 CHUBB INA HOLDINGS LLC

3.35 05/03/2026
09/13/2023
09/15/2023
1,000,000.00
954,220.00

0.00 0.00
954,220.00
8,188.89

0.00 10,980.56
2,791.67

0.00 0.00

0.00 2,791.67
2,791.67
009158AY2

AIR PRODUCTS AND
CHEMICALS INC 1.85
05/15/2027
02/09/2024
02/13/2024
1,500,000.00
1,371,945.00

0.00 0.00
1,371,945.00
5,858.33

0.00 8,170.83
2,312.50

0.00 0.00

0.00 2,312.50
2,312.50
023135BC9 AMAZON.COM INC 3.15
08/22/2027
07/30/2024
07/30/2024
1,000,000.00
960,450.00

0.00 0.00
960,450.00
13,912.50
15,750.00
787.50
2,625.00

0.00 0.00

0.00 2,625.00
2,625.00
023135CN4 AMAZON.COM INC 4.6
12/01/2025
11/29/2022
12/01/2022
425,000.00
424,974.50

0.00 0.00
424,974.50
3,258.33

0.00 4,887.50
1,629.17

0.00 0.00

0.00 1,629.17
1,629.17
02582JKH2 AMXCA 2024-1 A 5.23
04/16/2029
04/16/2024
04/23/2024
640,000.00
639,868.80

0.00 0.00
639,868.80
1,487.64
2,789.33
1,487.64
2,789.33

0.00 0.00

0.00 2,789.33
2,789.33
205
| 22
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
02582JKP4 AMXCA 2025-2 A 4.28
04/15/2030
05/06/2025
05/13/2025
1,255,000.00
1,254,977.28

0.00 0.00
1,254,977.28
2,387.29
4,476.17
2,387.29
4,476.17

0.00 0.00

0.00 4,476.17
4,476.17
037833BY5 APPLE INC 3.25 02/23/2026
02/22/2023
02/28/2023
1,000,000.00
959,390.00

0.00 0.00
959,390.00
14,263.89
16,250.00
722.22
2,708.33

0.00 0.00

0.00 2,708.33
2,708.33
05602RAD3 BMWOT 2022-A A3 3.21
08/25/2026
05/10/2022
05/18/2022
7,517.38
19,001.43

0.00 (11,484.44)
7,516.99

10.17 50.83

4.02 44.69

0.00 0.00

0.00 44.69

44.69 05611UAD5 BMWLT 2024-1 A3 4.98
03/25/2027
06/20/2024
06/21/2024
939,719.50
994,687.50

0.00 (59,960.26)
934,727.24
830.00
4,150.00
779.97
4,099.97

0.00 0.00

0.00 4,099.97
4,099.97
06368MJG0 BANK OF MONTREAL 5.004
01/27/2029
01/24/2025
01/27/2025
1,500,000.00
1,501,860.00

0.00 0.00
1,501,860.00
834.00

0.00 7,089.00
6,255.00

0.00 0.00

0.00 6,255.00
6,255.00
06428CAA2 BANK OF AMERICA NA 5.526
08/18/2026
09/13/2023
09/15/2023
1,000,000.00
998,810.00

0.00 0.00
998,810.00
25,020.50
27,630.00
1,995.50
4,605.00

0.00 0.00

0.00 4,605.00
4,605.00
09290DAH4 BLACKROCK INC 4.6
07/26/2027
07/18/2024
07/26/2024
750,000.00
750,645.00

0.00 0.00
750,645.00
479.17

0.00 3,354.17
2,875.00

0.00 0.00

0.00 2,875.00
2,875.00
096919AD7 BMWOT 2024-A A3 5.18
02/26/2029
06/04/2024
06/11/2024
600,000.00
599,908.86

0.00 0.00
599,908.86
518.00
2,590.00
518.00
2,590.00

0.00 0.00

0.00 2,590.00
2,590.00
14913R2Z9

CATERPILLAR FINANCIAL
SERVICES CORP 3.65
08/12/2025
08/08/2022
08/12/2022

0.00 1,373,336.25

0.00 (1,373,336.25)

0.00 23,560.24
25,093.75

0.00 1,533.51

0.00 0.00

0.00 1,533.51
1,533.51
206
| 23
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
161571HT4 CHAIT 2023-1 A 5.16
09/15/2028
09/07/2023
09/15/2023
1,320,000.00
1,319,634.10

0.00 0.00
1,319,634.10
3,027.20
5,676.00
3,027.20
5,676.00

0.00 0.00

0.00 5,676.00
5,676.00
17275RBQ4 CISCO SYSTEMS INC 4.8
02/26/2027
02/29/2024
03/04/2024
1,500,000.00
1,500,810.00

0.00 0.00
1,500,810.00
31,000.00
36,000.00
1,000.00
6,000.00

0.00 0.00

0.00 6,000.00
6,000.00
24422EXF1 JOHN DEERE CAPITAL CORP

4.5 01/08/2027
01/10/2024
01/17/2024
1,000,000.00
999,460.00

0.00 0.00
999,460.00
2,875.00

0.00 6,625.00
3,750.00

0.00 0.00

0.00 3,750.00
3,750.00
24422EXZ7 JOHN DEERE CAPITAL CORP

4.65 01/07/2028
01/06/2025
01/09/2025
700,000.00
699,790.00

0.00 0.00
699,790.00
2,170.00

0.00 4,882.50
2,712.50

0.00 0.00

0.00 2,712.50
2,712.50
26442UAA2 DUKE ENERGY PROGRESS LLC

3.25 08/15/2025
06/23/2022
06/27/2022

0.00 990,710.00

0.00 (990,710.00)

0.00 14,986.11
16,250.00

0.00 1,263.89

0.00 0.00

0.00 1,263.89
1,263.89
26444HAE1 DUKE ENERGY FLORIDA LLC

3.8 07/15/2028
06/04/2025
06/05/2025
1,000,000.00
985,120.00

0.00 0.00
985,120.00
1,688.89

0.00 4,855.56
3,166.67

0.00 0.00

0.00 3,166.67
3,166.67
3130ATS57 FEDERAL HOME LOAN BANKS

4.5 03/10/2028
03/24/2025
03/25/2025
3,000,000.00
3,039,480.00

0.00 0.00
3,039,480.00
52,875.00

0.00 64,125.00
11,250.00

0.00 0.00

0.00 11,250.00
11,250.00
3130AVVX7 FEDERAL HOME LOAN BANKS

3.75 06/09/2028
06/07/2023
06/09/2023
1,120,000.00
1,107,243.20

0.00 0.00
1,107,243.20
6,066.67

0.00 9,566.67
3,500.00

0.00 0.00

0.00 3,500.00
3,500.00
3130AWC24 FEDERAL HOME LOAN BANKS

4.0 06/09/2028
07/06/2023
07/10/2023
2,000,000.00
1,956,940.00

0.00 0.00
1,956,940.00
11,555.56

0.00 18,222.22
6,666.67

0.00 0.00

0.00 6,666.67
6,666.67
207
| 24
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
3130AWLZ1 FEDERAL HOME LOAN BANKS

4.75 06/12/2026
08/16/2023
08/17/2023
2,000,000.00
1,998,620.00

0.00 0.00
1,998,620.00
12,930.56

0.00 20,847.22
7,916.67

0.00 0.00

0.00 7,916.67
7,916.67
3130AWTQ3 FEDERAL HOME LOAN BANKS

4.625 09/11/2026 4,500,000.00
4,476,030.00

0.00 0.00
4,476,030.00
80,937.50

0.00 98,281.25
17,343.75

0.00 0.00

0.00 17,343.75
17,343.75
3130AXU63 FEDERAL HOME LOAN BANKS

4.625 11/17/2026
11/30/2023
12/01/2023
1,750,000.00
1,754,427.50

0.00 0.00
1,754,427.50
16,637.15

0.00 23,381.94
6,744.79

0.00 0.00

0.00 6,744.79
6,744.79
3130AYPN0 FEDERAL HOME LOAN BANKS

4.125 01/15/2027
01/30/2024
01/31/2024
2,000,000.00
1,995,560.00

0.00 0.00
1,995,560.00
3,666.67

0.00 10,541.67
6,875.00

0.00 0.00

0.00 6,875.00
6,875.00
3130B0TY5 FEDERAL HOME LOAN BANKS

4.75 04/09/2027
04/10/2024
04/15/2024
1,500,000.00
1,496,115.00

0.00 0.00
1,496,115.00
22,166.67

0.00 28,104.17
5,937.50

0.00 0.00

0.00 5,937.50
5,937.50
3133EP6K6

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.5
03/26/2027
04/08/2024
04/09/2024
1,000,000.00
995,520.00

0.00 0.00
995,520.00
15,625.00

0.00 19,375.00
3,750.00

0.00 0.00

0.00 3,750.00
3,750.00
3133EPSW6

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.5
08/14/2026
08/09/2023
08/14/2023
2,405,000.00
2,399,468.50

0.00 0.00
2,399,468.50
50,204.38
54,112.50
5,110.63
9,018.75

0.00 0.00

0.00 9,018.75
9,018.75
3133EPW68

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.125
01/22/2026
01/24/2024
01/25/2024
1,400,000.00
1,392,860.00

0.00 0.00
1,392,860.00
1,443.75

0.00 6,256.25
4,812.50

0.00 0.00

0.00 4,812.50
4,812.50
3133EPWK7

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.5
09/22/2028
10/12/2023
10/16/2023
2,000,000.00
1,981,460.00

0.00 0.00
1,981,460.00
32,250.00

0.00 39,750.00
7,500.00

0.00 0.00

0.00 7,500.00
7,500.00
208
| 25
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
3133EPZY4

FEDERAL FARM CREDIT
BANKS FUNDING CORP 5.0
07/30/2026
11/09/2023
11/10/2023
2,000,000.00
2,007,480.00

0.00 0.00
2,007,480.00
277.78

0.00 8,611.11
8,333.33

0.00 0.00

0.00 8,333.33
8,333.33
3133ERDZ1

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.75
05/08/2026
05/20/2024
05/21/2024
1,000,000.00
997,690.00

0.00 0.00
997,690.00
10,951.39

0.00 14,909.72
3,958.33

0.00 0.00

0.00 3,958.33
3,958.33
3133ERFJ5

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.5
05/20/2027
05/20/2024
05/21/2024
1,000,000.00
994,830.00

0.00 0.00
994,830.00
8,875.00

0.00 12,625.00
3,750.00

0.00 0.00

0.00 3,750.00
3,750.00
3137BM7C4 FHMS K-051 A2 3.308
09/25/2025
06/23/2022
06/28/2022
339,324.19
676,957.33

0.00 (338,348.90)
338,608.42
1,870.09
1,870.09
935.40
935.40

0.00 0.00

0.00 935.40
935.40
3137BSP72 FHMS K-058 A2 2.653
08/25/2026
02/09/2023
02/14/2023
2,000,000.00
1,890,546.88

0.00 0.00
1,890,546.88
4,421.67
4,421.67
4,421.67
4,421.67

0.00 0.00

0.00 4,421.67
4,421.67
3137BTUM1 FHMS K-061 A2 3.347
11/25/2026
09/22/2022
09/27/2022
862,923.88
833,663.87

0.00 (1,717.60)
831,946.26
2,411.81
2,411.81
2,406.84
2,406.84

0.00 0.00

0.00 2,406.84
2,406.84
3137BVZ82 FHMS K-063 A2 3.43
01/25/2027 862,000.00
839,600.51

0.00 0.00
839,600.51
2,463.88
2,463.88
2,463.88
2,463.88

0.00 0.00

0.00 2,463.88
2,463.88
3137F1G44 FHMS K-065 A2 3.243
04/25/2027
09/19/2022
09/22/2022
1,000,000.00
965,468.75

0.00 0.00
965,468.75
2,702.50
2,702.50
2,702.50
2,702.50

0.00 0.00

0.00 2,702.50
2,702.50
3137F4X72 FHMS K-075 A2 3.65
02/25/2028
09/14/2023
09/19/2023
1,165,000.00
1,107,478.13

0.00 0.00
1,107,478.13
3,543.54
3,543.54
3,543.54
3,543.54

0.00 0.00

0.00 3,543.54
3,543.54
209
| 26
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
3137FBU79 FHMS K-069 A2 3.187
09/25/2027
05/18/2023
05/23/2023
1,222,473.43
1,176,263.28

0.00 (1,972.49)
1,174,290.79
3,252.14
3,252.14
3,246.69
3,246.69

0.00 0.00

0.00 3,246.69
3,246.69
3137FJEH8 FHMS K-081 A2 3.9
08/25/2028
05/28/2024
05/31/2024
1,250,000.00
1,197,265.63

0.00 0.00
1,197,265.63
4,062.50
4,062.50
4,062.50
4,062.50

0.00 0.00

0.00 4,062.50
4,062.50
3137FK4M5 FHMS K-085 A2 4.06
10/25/2028
05/07/2025
05/12/2025
2,000,000.00
1,990,703.13

0.00 0.00
1,990,703.13
6,766.67
6,766.67
6,766.67
6,766.67

0.00 0.00

0.00 6,766.67
6,766.67
3137FLMV3 FHMS K-090 A2 3.422
02/25/2029
03/27/2025
03/31/2025
2,000,000.00
1,932,500.00

0.00 0.00
1,932,500.00
5,703.33
5,703.33
5,703.33
5,703.33

0.00 0.00

0.00 5,703.33
5,703.33
3137H5YC5 FHMS K-748 A2 2.26
01/25/2029
08/19/2024
08/22/2024
1,500,000.00
1,385,332.03

0.00 0.00
1,385,332.03
2,825.00
2,825.00
2,825.00
2,825.00

0.00 0.00

0.00 2,825.00
2,825.00
3137HA4B9 FHMS K-751 A2 4.412
03/25/2030
03/26/2025
03/31/2025
2,000,000.00
1,997,890.63

0.00 0.00
1,997,890.63
7,353.33
7,353.33
7,353.33
7,353.33

0.00 0.00

0.00 7,353.33
7,353.33
341081GN1 FLORIDA POWER & LIGHT CO

4.4 05/15/2028
05/22/2023
05/24/2023
1,500,000.00
1,484,025.00

0.00 0.00
1,484,025.00
13,933.33

0.00 19,433.33
5,500.00

0.00 0.00

0.00 5,500.00
5,500.00
362549AD9 GMCAR 2025-2 A3 4.28
04/16/2030
05/06/2025
05/14/2025
370,000.00
369,945.54

0.00 0.00
369,945.54
659.83
1,319.67
659.83
1,319.67

0.00 0.00

0.00 1,319.67
1,319.67
36265WAD5 GMCAR 2022-3 A3 3.64
04/16/2027
07/06/2022
07/13/2022
56,217.47
71,109.10

0.00 (14,892.02)
56,217.09
107.85
215.70

85.26 193.11

0.00 0.00

0.00 193.11
193.11
210
| 27
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
36269FAD8 GMALT 2024-1 A3 5.09
03/22/2027
02/08/2024
02/15/2024
413,349.17
454,943.13

0.00 (41,645.63)
413,297.50
707.65
1,929.96
642.87
1,865.18

0.00 0.00

0.00 1,865.18
1,865.18
362962AD4 GMALT 2025-2 A3 4.58
05/22/2028
05/20/2025
05/29/2025
705,000.00
704,988.30

0.00 0.00
704,988.30
986.61
2,690.75
986.61
2,690.75

0.00 0.00

0.00 2,690.75
2,690.75
379929AD4 GMALT 2023-3 A3 5.38
11/20/2026
08/08/2023
08/16/2023
89,425.22
124,861.15

0.00 (35,446.65)
89,414.50
205.28
559.86
147.01
501.58

0.00 0.00

0.00 501.58
501.58
437076CR1 HOME DEPOT INC 4.0
09/15/2025
09/14/2022
09/19/2022
1,000,000.00
996,380.00

0.00 0.00
996,380.00
15,111.11

0.00 18,444.44
3,333.33

0.00 0.00

0.00 3,333.33
3,333.33
437076DB5 HOME DEPOT INC 4.875
06/25/2027 06/25/2024
740,000.00
738,545.60

0.00 0.00
738,545.60
3,607.50

0.00 6,613.75
3,006.25

0.00 0.00

0.00 3,006.25
3,006.25
437918AC9 HAROT 2024-1 A3 5.21
08/15/2028
02/13/2024
02/21/2024
1,250,000.00
1,249,945.63

0.00 0.00
1,249,945.63
2,894.44
5,427.08
2,894.44
5,427.08

0.00 0.00

0.00 5,427.08
5,427.08
43815PAC3 HAROT 2022-2 A3 3.73
07/20/2026
08/15/2022
08/24/2022
36,600.14
53,400.62

0.00 (16,802.66)
36,597.96

71.93 166.00

49.30 143.37

0.00 0.00

0.00 143.37
143.37
44935XAD7 HART 2025-B A3 4.36
12/17/2029
06/03/2025
06/11/2025
585,000.00
584,947.18

0.00 0.00
584,947.18
1,133.60
2,125.50
1,133.60
2,125.50

0.00 0.00

0.00 2,125.50
2,125.50
459058KT9

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.5 07/12/2028
07/24/2023
07/26/2023
500,000.00
483,115.00

0.00 0.00
483,115.00
923.61

0.00 2,381.94
1,458.33

0.00 0.00

0.00 1,458.33
1,458.33
211
| 28
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
459058LT8

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.625 05/05/2028
04/29/2025
05/06/2025
1,335,000.00
1,332,036.30

0.00 0.00
1,332,036.30
11,426.30

0.00 15,459.11
4,032.81

0.00 0.00

0.00 4,032.81
4,032.81
47787JAC2 JDOT 2022 A3 2.32
09/15/2026
03/10/2022
03/16/2022
20,371.67
32,503.12

0.00 (12,135.96)
20,367.16

33.52 62.85

21.01 50.33

0.00 0.00

0.00 50.33

50.33 47800DAD6 JDOT 2025 A3 4.23
09/17/2029
03/04/2025
03/11/2025
670,000.00
669,957.86

0.00 0.00
669,957.86
1,259.60
2,361.75
1,259.60
2,361.75

0.00 0.00

0.00 2,361.75
2,361.75
47800RAD5 JDOT 2024 A3 4.96
11/15/2028
03/11/2024
03/19/2024
335,000.00
334,981.24

0.00 0.00
334,981.24
738.49
1,384.67
738.49
1,384.67

0.00 0.00

0.00 1,384.67
1,384.67
48125LRU8 JPMORGAN CHASE BANK NA

5.11 12/08/2026 12/08/2023
1,575,000.00
1,576,460.00

0.00 0.00
1,576,460.00
11,848.81

0.00 18,555.69
6,706.88

0.00 0.00

0.00 6,706.88
6,706.88
532457CP1 ELI LILLY AND CO 4.15
08/14/2027
08/22/2024
08/23/2024
1,250,000.00
1,251,637.50

0.00 0.00
1,251,637.50
24,064.24
25,937.50
2,449.65
4,322.92

0.00 0.00

0.00 4,322.92
4,322.92
57629TBW6 MASSMUTUAL GLOBAL
FUNDING II 4.45 03/27/2028
03/20/2025
03/27/2025
1,340,000.00
1,338,405.40

0.00 0.00
1,338,405.40
20,539.22

0.00 25,508.39
4,969.17

0.00 0.00

0.00 4,969.17
4,969.17
57629W6F2 MASSMUTUAL GLOBAL
FUNDING II 4.5 04/10/2026
04/04/2023
04/12/2023
750,000.00
749,482.50

0.00 0.00
749,482.50
10,406.25

0.00 13,218.75
2,812.50

0.00 0.00

0.00 2,812.50
2,812.50
58768YAD7 MBALT 2025-A A3 4.61
04/16/2029
05/14/2025
05/21/2025
770,000.00
769,906.14

0.00 0.00
769,906.14
1,577.64
2,958.08
1,577.64
2,958.08

0.00 0.00

0.00 2,958.08
2,958.08
212
| 29
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
58769GAD5 MBALT 2024-B A3 4.23
02/15/2028
09/17/2024
09/25/2024
545,000.00
544,908.28

0.00 0.00
544,908.28
1,024.60
1,921.13
1,024.60
1,921.13

0.00 0.00

0.00 1,921.13
1,921.13
58770JAD6 MBALT 2024-A A3 5.32
01/18/2028
05/17/2024
05/23/2024
350,000.00
349,959.05

0.00 0.00
349,959.05
827.56
1,551.67
827.56
1,551.67

0.00 0.00

0.00 1,551.67
1,551.67
58989V2F0 MET TOWER GLOBAL
FUNDING 5.4 06/20/2026
06/12/2023
06/20/2023
1,000,000.00
1,000,440.00

0.00 0.00
1,000,440.00
6,150.00

0.00 10,650.00
4,500.00

0.00 0.00

0.00 4,500.00
4,500.00
63743HFW7

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE CORP

4.75 02/07/2028
06/17/2025
06/18/2025
1,500,000.00
1,512,345.00

0.00 0.00
1,512,345.00
34,437.50
35,625.00
4,750.00
5,937.50

0.00 0.00

0.00 5,937.50
5,937.50
64952WCX9 NEW YORK LIFE GLOBAL
FUNDING 3.0 01/10/2028
08/26/2025
08/27/2025
1,000,000.00

0.00 976,720.00

0.00 976,720.00

0.00 (3,916.67)
4,250.00
333.33

0.00 0.00

0.00 333.33
333.33
64952WFJ7 NEW YORK LIFE GLOBAL
FUNDING 3.9 10/01/2027
09/25/2024
10/01/2024
1,000,000.00
999,820.00

0.00 0.00
999,820.00
13,000.00

0.00 16,250.00
3,250.00

0.00 0.00

0.00 3,250.00
3,250.00
665859AW4
NORTHERN TRUST CORP 4.0
05/10/2027
09/14/2022
09/16/2022
1,000,000.00
990,460.00

0.00 0.00
990,460.00
9,000.00

0.00 12,333.33
3,333.33

0.00 0.00

0.00 3,333.33
3,333.33
66815L2X6

NORTHWESTERN MUTUAL
GLOBAL FUNDING 4.125
08/25/2028
08/25/2025
08/26/2025
1,000,000.00

0.00 1,002,660.00

0.00 1,002,660.00

0.00 (114.58)
687.50
572.92

0.00 0.00

0.00 572.92
572.92
69371RS56 PACCAR FINANCIAL CORP

5.05 08/10/2026 1,450,000.00
1,451,925.00

0.00 0.00
1,451,925.00
34,781.88
36,612.50
4,271.46
6,102.08

0.00 0.00

0.00 6,102.08
6,102.08
213
| 30
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
713448FW3 PEPSICO INC 5.125
11/10/2026
11/08/2023
11/10/2023
510,000.00
509,862.30

0.00 0.00
509,862.30
5,880.94

0.00 8,059.06
2,178.13

0.00 0.00

0.00 2,178.13
2,178.13
713448GL6 PEPSICO INC 4.1 01/15/2029
07/24/2025
07/25/2025
1,000,000.00
997,190.00

0.00 0.00
997,190.00
911.11

0.00 4,327.78
3,416.67

0.00 0.00

0.00 3,416.67
3,416.67
74456QBU9 PUBLIC SERVICE ELECTRIC
AND GAS CO 3.7 05/01/2028
06/22/2023
06/26/2023
750,000.00
715,005.00

0.00 0.00
715,005.00
6,937.50

0.00 9,250.00
2,312.50

0.00 0.00

0.00 2,312.50
2,312.50
74456QBX3

PUBLIC SERVICE ELECTRIC
AND GAS CO 3.65
09/01/2028
07/24/2025
07/25/2025
1,000,000.00
983,400.00

0.00 0.00
983,400.00
15,208.33

0.00 18,250.00
3,041.67

0.00 0.00

0.00 3,041.67
3,041.67
78016HZT0 ROYAL BANK OF CANADA

4.875 01/19/2027
01/10/2024
01/19/2024
1,245,000.00
1,244,688.75

0.00 0.00
1,244,688.75
2,023.13

0.00 7,080.94
5,057.81

0.00 0.00

0.00 5,057.81
5,057.81
857477CL5 STATE STREET CORP 4.993
03/18/2027
03/13/2024
03/18/2024
1,210,000.00
1,210,000.00

0.00 0.00
1,210,000.00
22,320.10

0.00 27,354.71
5,034.61

0.00 0.00

0.00 5,034.61
5,034.61
87612EBU9 TARGET CORP 4.35
06/15/2028
06/05/2025
06/10/2025
570,000.00
569,994.30

0.00 0.00
569,994.30
3,512.63

0.00 5,578.88
2,066.25

0.00 0.00

0.00 2,066.25
2,066.25
89236TKJ3 TOYOTA MOTOR CREDIT
CORP 4.55 09/20/2027
06/20/2024
06/21/2024
1,000,000.00
989,900.00

0.00 0.00
989,900.00
16,556.94

0.00 20,348.61
3,791.67

0.00 0.00

0.00 3,791.67
3,791.67
90331HPS6 US BANK NA 4.73 05/15/2028
05/12/2025
05/15/2025
1,330,000.00
1,330,000.00

0.00 0.00
1,330,000.00
13,280.79

0.00 18,523.21
5,242.42

0.00 0.00

0.00 5,242.42
5,242.42
214
| 31
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
9128283F5 UNITED STATES TREASURY

2.25 11/15/2027
06/07/2023
06/09/2023
1,400,000.00
1,298,937.50

0.00 0.00
1,298,937.50
6,676.63

0.00 9,330.16
2,653.53

0.00 0.00

0.00 2,653.53
2,653.53
9128283W8 UNITED STATES TREASURY

2.75 02/15/2028
09/27/2024
09/30/2024
2,750,000.00
2,684,257.81

0.00 0.00
2,684,257.81
34,887.78
37,812.50
3,493.55
6,418.27

0.00 0.00

0.00 6,418.27
6,418.27
9128284V9 UNITED STATES TREASURY

2.875 08/15/2028
11/12/2024
11/15/2024
2,500,000.00
2,374,804.69

0.00 0.00
2,374,804.69
33,157.80
35,937.50
3,320.31
6,100.01

0.00 0.00

0.00 6,100.01
6,100.01
9128285C0 UNITED STATES TREASURY 3.0
09/30/2025 3,250,000.00
3,259,882.81

0.00 0.00
3,259,882.81
32,766.39

0.00 41,024.59
8,258.20

0.00 0.00

0.00 8,258.20
8,258.20
9128285J5 UNITED STATES TREASURY 3.0
10/31/2025
06/23/2022
06/24/2022
2,500,000.00
2,498,632.81

0.00 0.00
2,498,632.81
18,953.80

0.00 25,271.74
6,317.93

0.00 0.00

0.00 6,317.93
6,317.93
9128285M8 UNITED STATES TREASURY

3.125 11/15/2028
04/22/2024
04/23/2024
2,000,000.00
1,870,625.00

0.00 0.00
1,870,625.00
13,247.28

0.00 18,512.23
5,264.95

0.00 0.00

0.00 5,264.95
5,264.95
9128285T3 UNITED STATES TREASURY

2.625 12/31/2025
09/14/2022
09/15/2022
2,500,000.00
2,412,792.97

0.00 0.00
2,412,792.97
5,706.52

0.00 11,234.71
5,528.19

0.00 0.00

0.00 5,528.19
5,528.19
9128286L9 UNITED STATES TREASURY

2.25 03/31/2026
09/14/2022
09/15/2022
2,500,000.00
2,377,832.03

0.00 0.00
2,377,832.03
18,903.69

0.00 23,668.03
4,764.34

0.00 0.00

0.00 4,764.34
4,764.34
912828M56 UNITED STATES TREASURY

2.25 11/15/2025
06/23/2022
06/24/2022
2,500,000.00
2,431,152.34

0.00 0.00
2,431,152.34
11,922.55

0.00 16,661.01
4,738.45

0.00 0.00

0.00 4,738.45
4,738.45
215
| 32
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
912828U24 UNITED STATES TREASURY 2.0
11/15/2026
09/13/2023
09/14/2023
3,000,000.00
2,767,031.25

0.00 0.00
2,767,031.25
12,717.39

0.00 17,771.74
5,054.35

0.00 0.00

0.00 5,054.35
5,054.35
912828YX2 UNITED STATES TREASURY

1.75 12/31/2026
12/27/2023
12/28/2023
1,750,000.00
1,641,240.23

0.00 0.00
1,641,240.23
2,663.04

0.00 5,242.87
2,579.82

0.00 0.00

0.00 2,579.82
2,579.82
91282CEF4 UNITED STATES TREASURY 2.5
03/31/2027
11/17/2022
11/18/2022
2,500,000.00
2,349,414.06

0.00 0.00
2,349,414.06
21,004.10

0.00 26,297.81
5,293.72

0.00 0.00

0.00 5,293.72
5,293.72
91282CEW7 UNITED STATES TREASURY

3.25 06/30/2027
12/12/2022
12/13/2022
1,300,000.00
1,266,687.50

0.00 0.00
1,266,687.50
3,673.91

0.00 7,233.02
3,559.10

0.00 0.00

0.00 3,559.10
3,559.10
91282CFB2 UNITED STATES TREASURY

2.75 07/31/2027
07/26/2023
07/27/2023
2,000,000.00
1,887,109.38

0.00 0.00
1,887,109.38
149.46

0.00 4,782.61
4,633.15

0.00 0.00

0.00 4,633.15
4,633.15
91282CFH9 UNITED STATES TREASURY

3.125 08/31/2027
01/24/2023
01/25/2023
2,500,000.00
2,445,117.19

0.00 0.00
2,445,117.19
32,693.61

0.00 215.81
(32,477.80)

0.00 0.00

0.00 (32,477.80)
(32,477.80)
91282CFJ5 UNITED STATES TREASURY

3.125 08/31/2029
12/17/2024
12/20/2024
2,750,000.00
2,618,730.47

0.00 0.00
2,618,730.47
35,962.98

0.00 237.40
(35,725.58)

0.00 0.00

0.00 (35,725.58)
(35,725.58)
91282CFM8 UNITED STATES TREASURY

4.125 09/30/2027
02/22/2023
02/28/2023
1,600,000.00
1,595,500.00

0.00 0.00
1,595,500.00
22,180.33

0.00 27,770.49
5,590.16

0.00 0.00

0.00 5,590.16
5,590.16
91282CFT3 UNITED STATES TREASURY 4.0
10/31/2029
02/12/2025
02/14/2025
1,700,000.00
1,665,203.13

0.00 0.00
1,665,203.13
17,184.78

0.00 22,913.04
5,728.26

0.00 0.00

0.00 5,728.26
5,728.26
216
| 33
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
91282CFY2 UNITED STATES TREASURY

3.875 11/30/2029
03/24/2025
03/25/2025
3,000,000.00
2,976,679.69

0.00 0.00
2,976,679.69
19,692.62

0.00 29,538.93
9,846.31

0.00 0.00

0.00 9,846.31
9,846.31
91282CGB1 UNITED STATES TREASURY

3.875 12/31/2029
07/30/2025
07/31/2025
3,000,000.00
2,995,312.50

0.00 0.00
2,995,312.50
10,108.70

0.00 19,901.49
9,792.80

0.00 0.00

0.00 9,792.80
9,792.80
91282CGH8 UNITED STATES TREASURY 3.5
01/31/2028
11/26/2024
11/27/2024
1,500,000.00
1,467,070.31

0.00 0.00
1,467,070.31
142.66

0.00 4,565.22
4,422.55

0.00 0.00

0.00 4,422.55
4,422.55
91282CGV7 UNITED STATES TREASURY

3.75 04/15/2026
03/20/2024
03/21/2024
2,000,000.00
1,965,703.13

0.00 0.00
1,965,703.13
22,131.15

0.00 28,483.61
6,352.46

0.00 0.00

0.00 6,352.46
6,352.46
91282CKD2 UNITED STATES TREASURY

4.25 02/28/2029
01/30/2025
01/31/2025
2,250,000.00
2,244,726.56

0.00 0.00
2,244,726.56
40,016.98

0.00 264.16
(39,752.83)

0.00 0.00

0.00 (39,752.83)
(39,752.83)
91282CLC3 UNITED STATES TREASURY 4.0
07/31/2029
10/29/2024
10/31/2024
2,000,000.00
1,991,093.75

0.00 0.00
1,991,093.75
217.39

0.00 6,956.52
6,739.13

0.00 0.00

0.00 6,739.13
6,739.13
91324PDE9 UNITEDHEALTH GROUP INC

2.95 10/15/2027
07/30/2024
07/31/2024
1,250,000.00
1,189,300.00

0.00 0.00
1,189,300.00
10,857.64

0.00 13,930.56
3,072.92

0.00 0.00

0.00 3,072.92
3,072.92
92348KDY6 VZMT 2025-3 A1A 4.51
03/20/2030
03/25/2025
03/31/2025
1,050,000.00
1,049,954.85

0.00 0.00
1,049,954.85
1,446.96
3,946.25
1,446.96
3,946.25

0.00 0.00

0.00 3,946.25
3,946.25
92970QAJ4 WFCIT 2025-1 A 4.34
05/15/2030
06/03/2025
06/10/2025
1,210,000.00
1,209,979.91

0.00 0.00
1,209,979.91
2,333.96
4,376.17
2,333.96
4,376.17

0.00 0.00

0.00 4,376.17
4,376.17
217
| 34
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
Total Fixed Income 153,024,922.05
151,193,238.95
1,979,380.00
(2,898,452.86)
150,274,166.10
1,269,685.61
459,085.88
1,168,174.53
357,574.80

0.00 0.00

0.00 357,574.80 357,574.80
TOTAL PORTFOLIO 154,808,461.69
151,451,541.73
5,322,944.26
(4,846,864.11)
152,057,705.74
1,269,685.61
464,932.21
1,168,174.53
363,421.13

0.00 0.00

0.00 363,421.13 363,421.13
218
| 35
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount SEPTEMBER 2025
09/02/2025 Dividend 31846V567 0.00 6,086.43 6,086.43
09/02/2025 Coupon 74456QBX3 0.00 PUBLIC SERVICE ELECTRIC AND GAS CO 3.65 09/01/2028 18,250.00 18,250.00
09/02/2025 Coupon 91282CFH9 0.00 UNITED STATES TREASURY 3.125 08/31/2027 39,062.50 39,062.50 09/02/2025 Coupon 91282CFJ5 0.00 UNITED STATES TREASURY 3.125 08/31/2029 42,968.75 42,968.75 09/02/2025 Coupon 91282CKD2 0.00 UNITED STATES TREASURY 4.25 02/28/2029 47,812.50 47,812.50 09/10/2025 Coupon 3130ATS57 3,000,000.00 FEDERAL HOME LOAN BANKS 4.5 03/10/2028 67,500.00 67,500.00 09/11/2025 Coupon 3130AWTQ3 4,500,000.00 FEDERAL HOME LOAN BANKS 4.625 09/11/2026 104,062.50 104,062.50
09/15/2025 Coupon 02582JKH2 640,000.00 AMXCA 2024-1 A 5.23 04/16/2029 2,789.33 2,789.33 09/15/2025 Coupon 02582JKP4 1,255,000.00 AMXCA 2025-2 A 4.28 04/15/2030 4,476.17 4,476.17 09/15/2025 Coupon 161571HT4 1,320,000.00 CHAIT 2023-1 A 5.16 09/15/2028 5,676.00 5,676.00 09/15/2025 Coupon 437076CR1 1,000,000.00 HOME DEPOT INC 4.0 09/15/2025 20,000.00 20,000.00 09/15/2025 Final Maturity 437076CR1 1,000,000.00 HOME DEPOT INC 4.0 09/15/2025 1,000,000.00 1,000,000.00 09/15/2025 Coupon 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 5,427.08 5,427.08 09/15/2025 Principal Paydown 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 5,569.26 5,569.26 09/15/2025 Coupon 44935XAD7 585,000.00 HART 2025-B A3 4.36 12/17/2029 2,125.50 2,125.50 09/15/2025 Coupon 47787JAC2 20,371.67 JDOT 2022 A3 2.32 09/15/2026 36.96 36.96 09/15/2025 Principal Paydown 47787JAC2 20,371.67 JDOT 2022 A3 2.32 09/15/2026 10,984.00 10,984.00 09/15/2025 Coupon 47800DAD6 670,000.00 JDOT 2025 A3 4.23 09/17/2029 2,361.75 2,361.75
09/15/2025 Coupon 47800RAD5 335,000.00 JDOT 2024 A3 4.96 11/15/2028 1,384.67 1,384.67 09/15/2025 Coupon 58768YAD7 770,000.00 MBALT 2025-A A3 4.61 04/16/2029 2,958.08 2,958.08 09/15/2025 Coupon 58769GAD5 545,000.00 MBALT 2024-B A3 4.23 02/15/2028 1,921.13 1,921.13 09/15/2025 Coupon 58770JAD6 350,000.00 MBALT 2024-A A3 5.32 01/18/2028 1,551.85 1,551.85 09/15/2025 Coupon 92970QAJ4 1,210,000.00 WFCIT 2025-1 A 4.34 05/15/2030 4,376.17 4,376.17 09/16/2025 Coupon 362549AD9 370,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 1,319.67 1,319.67 09/16/2025 Coupon 36265WAD5 56,217.47 GMCAR 2022-3 A3 3.64 04/16/2027 192.80 192.80 09/16/2025 Principal Paydown 36265WAD5 56,217.47 GMCAR 2022-3 A3 3.64 04/16/2027 14,096.67 14,096.67 09/18/2025 Coupon 43815PAC3 36,600.14 HAROT 2022-2 A3 3.73 07/20/2026 126.04 126.04 09/18/2025 Principal Paydown 43815PAC3 36,600.14 HAROT 2022-2 A3 3.73 07/20/2026 14,542.73 14,542.73 09/18/2025 Coupon 857477CL5 1,210,000.00 STATE STREET CORP 4.993 03/18/2027 30,207.65 30,207.65 219
| 36
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 09/22/2025 Coupon 3133EPWK7 2,000,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.5 09/22/2028 45,000.00 45,000.00
09/22/2025 Coupon 36269FAD8 413,349.17 GMALT 2024-1 A3 5.09 03/22/2027 1,753.29 1,753.29 09/22/2025 Principal Paydown 36269FAD8 413,349.17 GMALT 2024-1 A3 5.09 03/22/2027 40,335.17 40,335.17 09/22/2025 Coupon 362962AD4 705,000.00 GMALT 2025-2 A3 4.58 05/22/2028 2,690.75 2,690.75 09/22/2025 Coupon 379929AD4 89,425.22 GMALT 2023-3 A3 5.38 11/20/2026 400.92 400.92 09/22/2025 Principal Paydown 379929AD4 89,425.22 GMALT 2023-3 A3 5.38 11/20/2026 34,849.44 34,849.44 09/22/2025 Coupon 89236TKJ3 1,000,000.00 TOYOTA MOTOR CREDIT CORP 4.55 09/20/2027 22,750.00 22,750.00 09/22/2025 Coupon 92348KDY6 1,050,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 3,946.25 3,946.25 09/25/2025 Coupon 05602RAD3 7,517.38 BMWOT 2022-A A3 3.21 08/25/2026 22.22 22.22 09/25/2025 Effective Maturity 05602RAD3 7,517.38 BMWOT 2022-A A3 3.21 08/25/2026 8,306.95 8,306.95 09/25/2025 Coupon 05611UAD5 939,719.50 BMWLT 2024-1 A3 4.98 03/25/2027 3,878.60 3,878.60 09/25/2025 Principal Paydown 05611UAD5 939,719.50 BMWLT 2024-1 A3 4.98 03/25/2027 84,939.67 84,939.67 09/25/2025 Coupon 096919AD7 600,000.00 BMWOT 2024-A A3 5.18 02/26/2029 2,590.00 2,590.00 09/25/2025 Coupon 3137BM7C4 339,324.19 FHMS K-051 A2 3.308 09/25/2025 1,210.50 1,210.50 09/25/2025 Final Maturity 3137BM7C4 339,324.19 FHMS K-051 A2 3.308 09/25/2025 439,116.24 439,116.24 09/25/2025 Coupon 3137BSP72 2,000,000.00 FHMS K-058 A2 2.653 08/25/2026 4,421.67 4,421.67 09/25/2025 Coupon 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 2,406.84 2,406.84 09/25/2025 Principal Paydown 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 1,786.38 1,786.38 09/25/2025 Coupon 3137BVZ82 862,000.00 FHMS K-063 A2 3.43 01/25/2027 2,463.89 2,463.89 09/25/2025 Coupon 3137F1G44 1,000,000.00 FHMS K-065 A2 3.243 04/25/2027 2,702.50 2,702.50 09/25/2025 Coupon 3137F4X72 1,165,000.00 FHMS K-075 A2 3.65 02/25/2028 3,543.54 3,543.54 09/25/2025 Coupon 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 3,246.69 3,246.69 09/25/2025 Principal Paydown 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 2,059.43 2,059.43 09/25/2025 Coupon 3137FJEH8 1,250,000.00 FHMS K-081 A2 3.9 08/25/2028 4,062.50 4,062.50 09/25/2025 Coupon 3137FK4M5 2,000,000.00 FHMS K-085 A2 4.06 10/25/2028 6,766.67 6,766.67 09/25/2025 Coupon 3137FLMV3 2,000,000.00 FHMS K-090 A2 3.422 02/25/2029 5,703.33 5,703.33 09/25/2025 Coupon 3137H5YC5 1,500,000.00 FHMS K-748 A2 2.26 01/25/2029 2,825.00 2,825.00 09/25/2025 Coupon 3137HA4B9 2,000,000.00 FHMS K-751 A2 4.412 03/25/2030 7,353.33 7,353.33 09/26/2025 Coupon 3133EP6K6 1,000,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.5 03/26/2027 22,500.00 22,500.00
220
| 37
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 09/29/2025 Coupon 57629TBW6 1,340,000.00 MASSMUTUAL GLOBAL FUNDING II 4.45 03/27/2028 29,815.00 29,815.00
09/30/2025 Coupon 9128285C0 3,250,000.00 UNITED STATES TREASURY 3.0 09/30/2025 48,750.00 48,750.00 09/30/2025 Final Maturity 9128285C0 3,250,000.00 UNITED STATES TREASURY 3.0 09/30/2025 3,250,000.00 3,250,000.00 09/30/2025 Coupon 9128286L9 2,500,000.00 UNITED STATES TREASURY 2.25 03/31/2026 28,125.00 28,125.00 09/30/2025 Coupon 91282CEF4 2,500,000.00 UNITED STATES TREASURY 2.5 03/31/2027 31,250.00 31,250.00 09/30/2025 Coupon 91282CFM8 1,600,000.00 UNITED STATES TREASURY 4.125 09/30/2027 33,000.00 33,000.00 September 2025
Total 4,912,672.36 729,765.58 5,642,437.94
OCTOBER 2025
10/01/2025 Coupon 64952WFJ7 1,000,000.00 NEW YORK LIFE GLOBAL FUNDING 3.9 10/01/2027 19,500.00 19,500.00
10/09/2025 Coupon 3130B0TY5 1,500,000.00 FEDERAL HOME LOAN BANKS 4.75 04/09/2027 35,625.00 35,625.00 10/10/2025 Coupon 57629W6F2 750,000.00 MASSMUTUAL GLOBAL FUNDING II 4.5 04/10/2026 16,875.00 16,875.00
10/15/2025 Coupon 02582JKH2 640,000.00 AMXCA 2024-1 A 5.23 04/16/2029 2,789.33 2,789.33 10/15/2025 Coupon 02582JKP4 1,255,000.00 AMXCA 2025-2 A 4.28 04/15/2030 4,476.17 4,476.17 10/15/2025 Coupon 161571HT4 1,320,000.00 CHAIT 2023-1 A 5.16 09/15/2028 5,676.00 5,676.00 10/15/2025 Coupon 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 5,402.90 5,402.90 10/15/2025 Principal Paydown 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 71,750.78 71,750.78 10/15/2025 Coupon 44935XAD7 585,000.00 HART 2025-B A3 4.36 12/17/2029 2,125.50 2,125.50 10/15/2025 Coupon 47787JAC2 20,371.67 JDOT 2022 A3 2.32 09/15/2026 15.72 15.72 10/15/2025 Effective Maturity 47787JAC2 20,371.67 JDOT 2022 A3 2.32 09/15/2026 8,133.10 8,133.10
10/15/2025 Coupon 47800DAD6 670,000.00 JDOT 2025 A3 4.23 09/17/2029 2,361.75 2,361.75 10/15/2025 Coupon 47800RAD5 335,000.00 JDOT 2024 A3 4.96 11/15/2028 1,384.67 1,384.67 10/15/2025 Coupon 58768YAD7 770,000.00 MBALT 2025-A A3 4.61 04/16/2029 2,958.08 2,958.08 10/15/2025 Coupon 58769GAD5 545,000.00 MBALT 2024-B A3 4.23 02/15/2028 1,921.13 1,921.13 10/15/2025 Coupon 58770JAD6 350,000.00 MBALT 2024-A A3 5.32 01/18/2028 1,551.85 1,551.85 10/15/2025 Coupon 91282CGV7 2,000,000.00 UNITED STATES TREASURY 3.75 04/15/2026 37,500.00 37,500.00 10/15/2025 Coupon 91324PDE9 1,250,000.00 UNITEDHEALTH GROUP INC 2.95 10/15/2027 18,437.50 18,437.50 10/15/2025 Coupon 92970QAJ4 1,210,000.00 WFCIT 2025-1 A 4.34 05/15/2030 4,376.17 4,376.17 10/16/2025 Coupon 362549AD9 370,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 1,319.67 1,319.67 221
| 38
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 10/16/2025 Coupon 36265WAD5 56,217.47 GMCAR 2022-3 A3 3.64 04/16/2027 150.04 150.04 10/16/2025 Principal Paydown 36265WAD5 56,217.47 GMCAR 2022-3 A3 3.64 04/16/2027 13,203.10 13,203.10 10/20/2025 Coupon 36269FAD8 413,349.17 GMALT 2024-1 A3 5.09 03/22/2027 1,582.20 1,582.20 10/20/2025 Principal Paydown 36269FAD8 413,349.17 GMALT 2024-1 A3 5.09 03/22/2027 53,710.51 53,710.51 10/20/2025 Coupon 362962AD4 705,000.00 GMALT 2025-2 A3 4.58 05/22/2028 2,690.75 2,690.75 10/20/2025 Coupon 379929AD4 89,425.22 GMALT 2023-3 A3 5.38 11/20/2026 244.68 244.68 10/20/2025 Principal Paydown 379929AD4 89,425.22 GMALT 2023-3 A3 5.38 11/20/2026 32,632.94 32,632.94 10/20/2025 Coupon 43815PAC3 36,600.14 HAROT 2022-2 A3 3.73 07/20/2026 80.84 80.84 10/20/2025 Principal Paydown 43815PAC3 36,600.14 HAROT 2022-2 A3 3.73 07/20/2026 14,010.30 14,010.30 10/20/2025 Coupon 92348KDY6 1,050,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 3,946.25 3,946.25 10/27/2025 Coupon 05611UAD5 939,719.50 BMWLT 2024-1 A3 4.98 03/25/2027 3,526.10 3,526.10 10/27/2025 Principal Paydown 05611UAD5 939,719.50 BMWLT 2024-1 A3 4.98 03/25/2027 85,593.41 85,593.41 10/27/2025 Coupon 096919AD7 600,000.00 BMWOT 2024-A A3 5.18 02/26/2029 2,590.00 2,590.00 10/27/2025 Coupon 3137BSP72 2,000,000.00 FHMS K-058 A2 2.653 08/25/2026 4,421.67 4,421.67 10/27/2025 Coupon 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 2,401.86 2,401.86 10/27/2025 Principal Paydown 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 1,895.02 1,895.02 10/27/2025 Coupon 3137BVZ82 862,000.00 FHMS K-063 A2 3.43 01/25/2027 2,463.88 2,463.88 10/27/2025 Coupon 3137F1G44 1,000,000.00 FHMS K-065 A2 3.243 04/25/2027 2,702.50 2,702.50 10/27/2025 Coupon 3137F4X72 1,165,000.00 FHMS K-075 A2 3.65 02/25/2028 3,543.54 3,543.54 10/27/2025 Coupon 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 3,241.22 3,241.22 10/27/2025 Principal Paydown 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 2,199.75 2,199.75 10/27/2025 Coupon 3137FJEH8 1,250,000.00 FHMS K-081 A2 3.9 08/25/2028 4,062.50 4,062.50 10/27/2025 Coupon 3137FK4M5 2,000,000.00 FHMS K-085 A2 4.06 10/25/2028 6,766.67 6,766.67 10/27/2025 Coupon 3137FLMV3 2,000,000.00 FHMS K-090 A2 3.422 02/25/2029 5,703.33 5,703.33 10/27/2025 Coupon 3137H5YC5 1,500,000.00 FHMS K-748 A2 2.26 01/25/2029 2,825.00 2,825.00 10/27/2025 Coupon 3137HA4B9 2,000,000.00 FHMS K-751 A2 4.412 03/25/2030 7,353.33 7,353.33 10/31/2025 Coupon 9128285J5 2,500,000.00 UNITED STATES TREASURY 3.0 10/31/2025 37,500.00 37,500.00 10/31/2025 Final Maturity 9128285J5 2,500,000.00 UNITED STATES TREASURY 3.0 10/31/2025 2,500,000.00 2,500,000.00 10/31/2025 Coupon 91282CFT3 1,700,000.00 UNITED STATES TREASURY 4.0 10/31/2029 34,000.00 34,000.00 October 2025 Total 2,783,128.90 296,092.79 3,079,221.70 NOVEMBER 2025
11/03/2025 Coupon 00440EAV9 1,000,000.00 CHUBB INA HOLDINGS LLC 3.35 05/03/2026 16,750.00 16,750.00 222
| 39
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 11/03/2025 Coupon 74456QBU9 750,000.00 PUBLIC SERVICE ELECTRIC AND GAS CO 3.7 05/01/2028 13,875.00 13,875.00
11/05/2025 Coupon 459058LT8 1,335,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.625 05/05/2028 24,062.45 24,062.45
11/10/2025 Coupon 3133ERDZ1 1,000,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.75 05/08/2026 23,750.00 23,750.00
11/10/2025 Coupon 665859AW4 1,000,000.00 NORTHERN TRUST CORP 4.0 05/10/2027 20,000.00 20,000.00 11/10/2025 Coupon 713448FW3 510,000.00 PEPSICO INC 5.125 11/10/2026 13,068.75 13,068.75 11/17/2025 Coupon 009158AY2 1,500,000.00 AIR PRODUCTS AND CHEMICALS INC 1.85 05/15/2027 13,875.00 13,875.00
11/17/2025 Coupon 02582JKH2 640,000.00 AMXCA 2024-1 A 5.23 04/16/2029 2,789.33 2,789.33 11/17/2025 Coupon 02582JKP4 1,255,000.00 AMXCA 2025-2 A 4.28 04/15/2030 4,476.17 4,476.17 11/17/2025 Coupon 161571HT4 1,320,000.00 CHAIT 2023-1 A 5.16 09/15/2028 5,676.00 5,676.00 11/17/2025 Coupon 3130AXU63 1,750,000.00 FEDERAL HOME LOAN BANKS 4.625 11/17/2026 40,468.75 40,468.75
11/17/2025 Coupon 341081GN1 1,500,000.00 FLORIDA POWER & LIGHT CO 4.4 05/15/2028 33,000.00 33,000.00 11/17/2025 Coupon 362549AD9 370,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 1,319.67 1,319.67 11/17/2025 Coupon 36265WAD5 56,217.47 GMCAR 2022-3 A3 3.64 04/16/2027 109.99 109.99 11/17/2025 Principal Paydown 36265WAD5 56,217.47 GMCAR 2022-3 A3 3.64 04/16/2027 12,481.14 12,481.14 11/17/2025 Coupon 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 5,091.39 5,091.39 11/17/2025 Principal Paydown 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 69,939.19 69,939.19 11/17/2025 Coupon 44935XAD7 585,000.00 HART 2025-B A3 4.36 12/17/2029 2,125.50 2,125.50 11/17/2025 Coupon
47800DAD6 670,000.00 JDOT 2025 A3 4.23 09/17/2029 2,361.75 2,361.75 11/17/2025 Coupon 47800RAD5 335,000.00 JDOT 2024 A3 4.96 11/15/2028 1,384.67 1,384.67 11/17/2025 Coupon 58768YAD7 770,000.00 MBALT 2025-A A3 4.61 04/16/2029 2,958.08 2,958.08 11/17/2025 Coupon 58769GAD5 545,000.00 MBALT 2024-B A3 4.23 02/15/2028 1,921.13 1,921.13 11/17/2025 Coupon 58770JAD6 350,000.00 MBALT 2024-A A3 5.32 01/18/2028 1,551.85 1,551.85 11/17/2025 Coupon 90331HPS6 1,330,000.00 US BANK NA 4.73 05/15/2028 31,454.50 31,454.50 11/17/2025 Coupon 9128283F5 1,400,000.00 UNITED STATES TREASURY 2.25 11/15/2027 15,750.00 15,750.00 11/17/2025 Coupon 9128285M8 2,000,000.00 UNITED STATES TREASURY 3.125 11/15/2028 31,250.00 31,250.00 11/17/2025 Coupon 912828M56 2,500,000.00 UNITED STATES TREASURY 2.25 11/15/2025 28,125.00 28,125.00 11/17/2025 Final Maturity 912828M56 2,500,000.00 UNITED STATES TREASURY 2.25 11/15/2025 2,500,000.00 2,500,000.00 11/17/2025 Coupon 912828U24 3,000,000.00 UNITED STATES TREASURY 2.0 11/15/2026 30,000.00 30,000.00 223
| 40
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 11/17/2025 Coupon 92970QAJ4 1,210,000.00 WFCIT 2025-1 A 4.34 05/15/2030 4,376.17 4,376.17 11/18/2025 Coupon 43815PAC3 36,600.14 HAROT 2022-2 A3 3.73 07/20/2026 37.29 37.29 11/18/2025 Effective Maturity 43815PAC3 36,600.14 HAROT 2022-2 A3 3.73 07/20/2026 11,996.28 11,996.28 11/20/2025 Coupon 3133ERFJ5 1,000,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.5 05/20/2027 22,500.00 22,500.00
11/20/2025 Coupon 36269FAD8 413,349.17 GMALT 2024-1 A3 5.09 03/22/2027 1,354.38 1,354.38 11/20/2025 Principal Paydown 36269FAD8 413,349.17 GMALT 2024-1 A3 5.09 03/22/2027 50,015.00 50,015.00 11/20/2025 Coupon 362962AD4 705,000.00 GMALT 2025-2 A3 4.58 05/22/2028 2,690.75 2,690.75 11/20/2025 Coupon 379929AD4 89,425.22 GMALT 2023-3 A3 5.38 11/20/2026 98.38 98.38 11/20/2025 Effective Maturity 379929AD4 89,425.22 GMALT 2023-3 A3 5.38 11/20/2026 21,942.85 21,942.85 11/20/2025 Coupon 92348KDY6 1,050,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 3,946.25 3,946.25 11/25/2025 Coupon 05611UAD5 939,719.50 BMWLT 2024-1 A3 4.98 03/25/2027 3,170.88 3,170.88 11/25/2025 Principal Paydown 05611UAD5 939,719.50 BMWLT 2024-1 A3 4.98 03/25/2027 89,090.93 89,090.93 11/25/2025 Coupon 096919AD7 600,000.00 BMWOT 2024-A A3 5.18 02/26/2029 2,590.00 2,590.00 11/25/2025 Coupon 3137BSP72 2,000,000.00 FHMS K-058 A2 2.653 08/25/2026 4,421.67 4,421.67 11/25/2025 Coupon 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 2,396.57 2,396.57 11/25/2025 Principal Paydown 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 1,797.57 1,797.57 11/25/2025 Coupon 3137BVZ82 862,000.00 FHMS K-063 A2 3.43 01/25/2027 2,463.88 2,463.88 11/25/2025 Coupon 3137F1G44 1,000,000.00 FHMS K-065 A2 3.243 04/25/2027 2,702.50 2,702.50 11/25/2025 Coupon 3137F4X72 1,165,000.00 FHMS K-075 A2 3.65 02/25/2028 3,543.54 3,543.54 11/25/2025 Coupon 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 3,235.38 3,235.38 11/25/2025 Principal Paydown 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 2,072.95 2,072.95 11/25/2025 Coupon 3137FJEH8 1,250,000.00 FHMS K-081 A2 3.9 08/25/2028 4,062.50 4,062.50 11/25/2025 Coupon 3137FK4M5 2,000,000.00 FHMS K-085 A2 4.06 10/25/2028 6,766.67 6,766.67 11/25/2025 Coupon 3137FLMV3 2,000,000.00 FHMS K-090 A2 3.422 02/25/2029 5,703.33 5,703.33 11/25/2025 Coupon 3137H5YC5 1,500,000.00 FHMS K-748 A2 2.26 01/25/2029 2,825.00 2,825.00 11/25/2025 Coupon 3137HA4B9 2,000,000.00 FHMS K-751 A2 4.412 03/25/2030 7,353.33 7,353.33 November 2025
Total 2,759,335.91 453,433.44 3,212,769.35
DECEMBER 2025
12/01/2025 Coupon 023135CN4 425,000.00 AMAZON.COM INC 4.6 12/01/2025 9,775.00 9,775.00 12/01/2025 Final Maturity 023135CN4 425,000.00 AMAZON.COM INC 4.6 12/01/2025 425,000.00 425,000.00 224
| 41
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 12/01/2025 Coupon 91282CFY2 3,000,000.00 UNITED STATES TREASURY 3.875 11/30/2029 58,125.00 58,125.00 12/08/2025 Coupon 48125LRU8 1,575,000.00 JPMORGAN CHASE BANK NA 5.11 12/08/2026 40,241.25 40,241.25 12/09/2025 Coupon 3130AVVX7 1,120,000.00 FEDERAL HOME LOAN BANKS 3.75 06/09/2028 21,000.00 21,000.00 12/09/2025 Coupon 3130AWC24 2,000,000.00 FEDERAL HOME LOAN BANKS 4.0 06/09/2028 40,000.00 40,000.00 12/12/2025 Coupon 3130AWLZ1 2,000,000.00 FEDERAL HOME LOAN BANKS 4.75 06/12/2026 47,500.00 47,500.00 12/15/2025 Coupon 02582JKH2 640,000.00 AMXCA 2024-1 A 5.23 04/16/2029 2,789.33 2,789.33 12/15/2025 Coupon 02582JKP4 1,255,000.00 AMXCA 2025-2 A 4.28 04/15/2030 4,476.17 4,476.17 12/15/2025 Coupon 161571HT4 1,320,000.00 CHAIT 2023-1 A 5.16 09/15/2028 5,676.00 5,676.00 12/15/2025 Coupon 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 4,787.73 4,787.73 12/15/2025 Principal Paydown 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 66,350.30 66,350.30 12/15/2025 Coupon 44935XAD7 585,000.00 HART 2025-B A3 4.36 12/17/2029 2,125.50 2,125.50 12/15/2025 Coupon 47800DAD6 670,000.00 JDOT 2025 A3 4.23 09/17/2029 2,361.75 2,361.75 12/15/2025 Coupon 47800RAD5 335,000.00 JDOT 2024 A3 4.96 11/15/2028 1,384.67 1,384.67 12/15/2025 Coupon 58768YAD7 770,000.00 MBALT 2025-A A3 4.61 04/16/2029 2,958.08 2,958.08 12/15/2025 Coupon 58769GAD5 545,000.00 MBALT 2024-B A3 4.23 02/15/2028 1,921.13 1,921.13 12/15/2025 Coupon 58770JAD6 350,000.00 MBALT 2024-A A3 5.32 01/18/2028 1,551.85 1,551.85 12/15/2025 Coupon 87612EBU9 570,000.00 TARGET CORP 4.35 06/15/2028 12,741.88 12,741.88 12/15/2025 Coupon 92970QAJ4 1,210,000.00 WFCIT 2025-1 A 4.34 05/15/2030 4,376.17 4,376.17 12/16/2025 Coupon 362549AD9 370,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 1,319.67 1,319.67 12/16/2025 Coupon 36265WAD5 56,217.47 GMCAR 2022-3 A3 3.64 04/16/2027 72.13 72.13 12/16/2025 Principal Paydown 36265WAD5 56,217.47 GMCAR 2022-3 A3 3.64 04/16/2027 11,867.00 11,867.00 12/22/2025 Coupon 36269FAD8 413,349.17 GMALT 2024-1 A3 5.09 03/22/2027 1,142.23 1,142.23 12/22/2025 Principal Paydown 36269FAD8 413,349.17 GMALT 2024-1 A3 5.09 03/22/2027 45,091.47 45,091.47 12/22/2025 Coupon 362962AD4 705,000.00 GMALT 2025-2 A3 4.58 05/22/2028 2,690.75 2,690.75 12/22/2025 Coupon 58989V2F0 1,000,000.00 MET TOWER GLOBAL FUNDING 5.4 06/20/2026 27,000.00 27,000.00 12/22/2025 Coupon 92348KDY6 1,050,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 3,946.25 3,946.25 12/25/2025 Coupon 05611UAD5 939,719.50 BMWLT 2024-1 A3 4.98 03/25/2027 2,801.16 2,801.16 12/25/2025 Principal Paydown 05611UAD5 939,719.50 BMWLT 2024-1 A3 4.98 03/25/2027 76,333.45 76,333.45 12/25/2025 Coupon 096919AD7 600,000.00 BMWOT 2024-A A3 5.18 02/26/2029 2,590.00 2,590.00 12/25/2025 Coupon 3137BSP72 2,000,000.00 FHMS K-058 A2 2.653 08/25/2026 4,421.67 4,421.67 12/25/2025 Coupon 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 2,391.56 2,391.56 12/25/2025 Principal Paydown 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 1,905.77 1,905.77 225
| 42
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 12/25/2025 Coupon 3137BVZ82 862,000.00 FHMS K-063 A2 3.43 01/25/2027 2,463.88 2,463.88 12/25/2025 Coupon 3137F1G44 1,000,000.00 FHMS K-065 A2 3.243 04/25/2027 2,702.50 2,702.50 12/25/2025 Coupon 3137F4X72 1,165,000.00 FHMS K-075 A2 3.65 02/25/2028 3,543.54 3,543.54 12/25/2025 Coupon 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 3,229.87 3,229.87 12/25/2025 Principal Paydown 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 2,212.77 2,212.77 12/25/2025 Coupon 3137FJEH8 1,250,000.00 FHMS K-081 A2 3.9 08/25/2028 4,062.50 4,062.50 12/25/2025 Coupon 3137FK4M5 2,000,000.00 FHMS K-085 A2 4.06 10/25/2028 6,766.67 6,766.67 12/25/2025 Coupon 3137FLMV3 2,000,000.00 FHMS K-090 A2 3.422 02/25/2029 5,703.33 5,703.33 12/25/2025 Coupon 3137H5YC5 1,500,000.00 FHMS K-748 A2 2.26 01/25/2029 2,825.00 2,825.00 12/25/2025 Coupon 3137HA4B9 2,000,000.00 FHMS K-751 A2 4.412 03/25/2030 7,353.33 7,353.33 12/26/2025 Coupon 437076DB5 740,000.00 HOME DEPOT INC 4.875 06/25/2027 18,037.50 18,037.50 12/31/2025 Coupon 9128285T3 2,500,000.00 UNITED STATES TREASURY 2.625 12/31/2025 32,812.50 32,812.50 12/31/2025 Final Maturity 9128285T3 2,500,000.00 UNITED STATES TREASURY 2.625 12/31/2025 2,500,000.00 2,500,000.00 12/31/2025 Coupon 912828YX2 1,750,000.00 UNITED STATES TREASURY 1.75 12/31/2026 15,312.50 15,312.50 12/31/2025 Coupon 91282CEW7 1,300,000.00 UNITED STATES TREASURY 3.25 06/30/2027 21,125.00 21,125.00 12/31/2025 Coupon 91282CGB1 3,000,000.00 UNITED STATES TREASURY 3.875 12/31/2029 58,125.00 58,125.00 December 2025
Total 3,128,760.76 496,230.04 3,624,990.80
JANUARY 2026
01/07/2026 Coupon 24422EXZ7 700,000.00 JOHN DEERE CAPITAL CORP 4.65 01/07/2028 16,275.00 16,275.00 01/08/2026 Coupon 24422EXF1 1,000,000.00 JOHN DEERE CAPITAL CORP 4.5 01/08/2027 22,500.00 22,500.00 01/12/2026 Coupon 459058KT9 500,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.5 07/12/2028 8,750.00 8,750.00
01/12/2026 Coupon 64952WCX9 1,000,000.00 NEW YORK LIFE GLOBAL FUNDING 3.0 01/10/2028 15,000.00 15,000.00
01/15/2026 Coupon 02582JKH2 640,000.00 AMXCA 2024-1 A 5.23 04/16/2029 2,789.33 2,789.33 01/15/2026 Coupon 02582JKP4 1,255,000.00 AMXCA 2025-2 A 4.28 04/15/2030 4,476.17 4,476.17 01/15/2026 Coupon 161571HT4 1,320,000.00 CHAIT 2023-1 A 5.16 09/15/2028 5,676.00 5,676.00 01/15/2026 Coupon 26444HAE1 1,000,000.00 DUKE ENERGY FLORIDA LLC 3.8 07/15/2028 19,000.00 19,000.00 01/15/2026 Coupon 3130AYPN0 2,000,000.00 FEDERAL HOME LOAN BANKS 4.125 01/15/2027 41,250.00 41,250.00
01/15/2026 Coupon 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 4,499.66 4,499.66 226
| 43
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 01/15/2026 Principal Paydown 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 65,046.02 65,046.02 01/15/2026 Coupon 44935XAD7 585,000.00 HART 2025-B A3 4.36 12/17/2029 2,125.50 2,125.50 01/15/2026 Coupon 47800DAD6 670,000.00 JDOT 2025 A3 4.23 09/17/2029 2,361.75 2,361.75 01/15/2026 Coupon 47800RAD5 335,000.00 JDOT 2024 A3 4.96 11/15/2028 1,384.67 1,384.67 01/15/2026 Principal Paydown 47800RAD5 335,000.00 JDOT 2024 A3 4.96 11/15/2028 25,307.14 25,307.14 01/15/2026 Coupon 58768YAD7 770,000.00 MBALT 2025-A A3 4.61 04/16/2029 2,958.08 2,958.08 01/15/2026 Coupon 58769GAD5 545,000.00 MBALT 2024-B A3 4.23 02/15/2028 1,921.13 1,921.13 01/15/2026 Principal Paydown 58769GAD5 545,000.00 MBALT 2024-B A3 4.23 02/15/2028 20,774.00 20,774.00 01/15/2026 Coupon 58770JAD6 350,000.00 MBALT 2024-A A3 5.32 01/18/2028 1,551.85 1,551.85 01/15/2026 Principal Paydown 58770JAD6 350,000.00 MBALT 2024-A A3 5.32 01/18/2028 21,099.20 21,099.20 01/15/2026 Coupon 713448GL6 1,000,000.00 PEPSICO INC 4.1 01/15/2029 19,588.89 19,588.89 01/15/2026 Coupon 92970QAJ4 1,210,000.00 WFCIT 2025-1 A 4.34 05/15/2030 4,376.17 4,376.17 01/16/2026 Coupon 362549AD9 370,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 1,319.67 1,319.67 01/16/2026 Coupon 36265WAD5 56,217.47 GMCAR 2022-3 A3 3.64 04/16/2027 36.14 36.14 01/16/2026 Principal Paydown 36265WAD5 56,217.47 GMCAR 2022-3 A3 3.64 04/16/2027 11,640.84 11,640.84 01/20/2026 Coupon 36269FAD8 413,349.17 GMALT 2024-1 A3 5.09 03/22/2027 950.97 950.97 01/20/2026 Principal Paydown 36269FAD8 413,349.17 GMALT 2024-1 A3 5.09 03/22/2027 45,956.14 45,956.14 01/20/2026 Coupon 362962AD4 705,000.00 GMALT 2025-2 A3 4.58 05/22/2028 2,690.75 2,690.75 01/20/2026 Coupon 78016HZT0 1,245,000.00 ROYAL BANK OF CANADA 4.875 01/19/2027 30,346.88 30,346.88 01/20/2026 Coupon 92348KDY6 1,050,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 3,946.25 3,946.25 01/22/2026 Coupon 3133EPW68 1,400,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.125 01/22/2026 28,875.00 28,875.00
01/22/2026 Final Maturity 3133EPW68 1,400,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.125 01/22/2026 1,400,000.00 1,400,000.00
01/26/2026 Coupon 05611UAD5 939,719.50 BMWLT 2024-1 A3 4.98 03/25/2027 2,484.37 2,484.37 01/26/2026 Principal Paydown 05611UAD5 939,719.50 BMWLT 2024-1 A3 4.98 03/25/2027 139,544.26 139,544.26 01/26/2026 Coupon 09290DAH4 750,000.00 BLACKROCK INC 4.6 07/26/2027 17,250.00 17,250.00 01/26/2026 Coupon 096919AD7 600,000.00 BMWOT 2024-A A3 5.18 02/26/2029 2,590.00 2,590.00 01/26/2026 Principal Paydown 096919AD7 600,000.00 BMWOT 2024-A A3 5.18 02/26/2029 16,569.44 16,569.44 01/26/2026 Coupon 3137BSP72 2,000,000.00 FHMS K-058 A2 2.653 08/25/2026 4,421.67 4,421.67 01/26/2026 Coupon 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 2,386.24 2,386.24 01/26/2026 Principal Paydown 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 1,808.82 1,808.82 227
| 44
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 01/26/2026 Coupon 3137BVZ82 862,000.00 FHMS K-063 A2 3.43 01/25/2027 2,463.88 2,463.88 01/26/2026 Coupon 3137F1G44 1,000,000.00 FHMS K-065 A2 3.243 04/25/2027 2,702.50 2,702.50 01/26/2026 Coupon 3137F4X72 1,165,000.00 FHMS K-075 A2 3.65 02/25/2028 3,543.54 3,543.54 01/26/2026 Coupon 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 3,223.99 3,223.99 01/26/2026 Principal Paydown 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 2,086.55 2,086.55 01/26/2026 Coupon 3137FJEH8 1,250,000.00 FHMS K-081 A2 3.9 08/25/2028 4,062.50 4,062.50 01/26/2026 Coupon 3137FK4M5 2,000,000.00 FHMS K-085 A2 4.06 10/25/2028 6,766.67 6,766.67 01/26/2026 Coupon 3137FLMV3 2,000,000.00 FHMS K-090 A2 3.422 02/25/2029 5,703.33 5,703.33 01/26/2026 Coupon 3137H5YC5 1,500,000.00 FHMS K-748 A2 2.26 01/25/2029 2,825.00 2,825.00 01/26/2026 Coupon 3137HA4B9 2,000,000.00 FHMS K-751 A2 4.412 03/25/2030 7,353.33 7,353.33 01/27/2026 Coupon 06368MJG0 1,500,000.00 BANK OF MONTREAL 5.004 01/27/2029 37,530.00 37,530.00 01/30/2026 Coupon 3133EPZY4 2,000,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

5.0 07/30/2026 50,000.00 50,000.00
January 2026 Total 1,749,832.42 399,956.87 2,149,789.30 FEBRUARY 2026
02/02/2026 Coupon 91282CFB2 2,000,000.00 UNITED STATES TREASURY 2.75 07/31/2027 27,500.00 27,500.00 02/02/2026 Coupon 91282CGH8 1,500,000.00 UNITED STATES TREASURY 3.5 01/31/2028 26,250.00 26,250.00 02/02/2026 Coupon 91282CLC3 2,000,000.00 UNITED STATES TREASURY 4.0 07/31/2029 40,000.00 40,000.00 02/09/2026 Coupon 63743HFW7 1,500,000.00 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP 4.75 02/07/2028 35,625.00 35,625.00
02/10/2026 Coupon 69371RS56 1,450,000.00 PACCAR FINANCIAL CORP 5.05 08/10/2026 36,612.50 36,612.50 02/16/2026 Coupon 161571HT4 1,320,000.00 CHAIT 2023-1 A 5.16 09/15/2028 5,676.00 5,676.00 02/16/2026 Coupon 362549AD9 370,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 1,319.67 1,319.67 02/16/2026 Coupon 36265WAD5 56,217.47 GMCAR 2022-3 A3 3.64 04/16/2027 0.83 0.83 02/16/2026 Effective Maturity 36265WAD5 56,217.47 GMCAR 2022-3 A3 3.64 04/16/2027 272.88 272.88 02/16/2026 Coupon 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 4,217.25 4,217.25 02/16/2026 Principal Paydown 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 64,095.24 64,095.24 02/16/2026 Coupon 44935XAD7 585,000.00 HART 2025-B A3 4.36 12/17/2029 2,125.50 2,125.50 02/16/2026 Coupon 47800DAD6 670,000.00 JDOT 2025 A3 4.23 09/17/2029 2,361.75 2,361.75 02/16/2026 Coupon 47800RAD5 335,000.00 JDOT 2024 A3 4.96 11/15/2028 1,280.06 1,280.06 02/16/2026 Principal Paydown 47800RAD5 335,000.00 JDOT 2024 A3 4.96 11/15/2028 20,286.72 20,286.72 02/16/2026 Coupon 58768YAD7 770,000.00 MBALT 2025-A A3 4.61 04/16/2029 2,958.08 2,958.08 228
| 45
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 02/16/2026 Coupon 58769GAD5 545,000.00 MBALT 2024-B A3 4.23 02/15/2028 1,847.90 1,847.90 02/16/2026 Principal Paydown 58769GAD5 545,000.00 MBALT 2024-B A3 4.23 02/15/2028 43,917.68 43,917.68 02/16/2026 Coupon 58770JAD6 350,000.00 MBALT 2024-A A3 5.32 01/18/2028 1,458.31 1,458.31 02/16/2026 Principal Paydown 58770JAD6 350,000.00 MBALT 2024-A A3 5.32 01/18/2028 23,996.69 23,996.69 02/17/2026 Coupon 02582JKH2 640,000.00 AMXCA 2024-1 A 5.23 04/16/2029 2,789.33 2,789.33 02/17/2026 Coupon 02582JKP4 1,255,000.00 AMXCA 2025-2 A 4.28 04/15/2030 4,476.17 4,476.17 02/17/2026 Coupon 3133EPSW6 2,405,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.5 08/14/2026 54,112.50 54,112.50
02/17/2026 Coupon 532457CP1 1,250,000.00 ELI LILLY AND CO 4.15 08/14/2027 25,937.50 25,937.50 02/17/2026 Coupon 9128283W8 2,750,000.00 UNITED STATES TREASURY 2.75 02/15/2028 37,812.50 37,812.50 02/17/2026 Coupon 9128284V9 2,500,000.00 UNITED STATES TREASURY 2.875 08/15/2028 35,937.50 35,937.50 02/17/2026 Coupon 92970QAJ4 1,210,000.00 WFCIT 2025-1 A 4.34 05/15/2030 4,376.17 4,376.17 02/18/2026 Coupon 06428CAA2 1,000,000.00 BANK OF AMERICA NA 5.526 08/18/2026 27,630.00 27,630.00 02/20/2026 Coupon 36269FAD8 413,349.17 GMALT 2024-1 A3 5.09 03/22/2027 756.04 756.04 02/20/2026 Principal Paydown 36269FAD8 413,349.17 GMALT 2024-1 A3 5.09 03/22/2027 48,523.86 48,523.86 02/20/2026 Coupon 362962AD4 705,000.00 GMALT 2025-2 A3 4.58 05/22/2028 2,690.75 2,690.75 02/20/2026 Coupon 92348KDY6 1,050,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 3,946.25 3,946.25 02/23/2026 Coupon 023135BC9 1,000,000.00 AMAZON.COM INC 3.15 08/22/2027 15,750.00 15,750.00 02/23/2026 Coupon 037833BY5 1,000,000.00 APPLE INC 3.25 02/23/2026 16,250.00 16,250.00 02/23/2026 Final Maturity 037833BY5 1,000,000.00 APPLE INC 3.25 02/23/2026 1,000,000.00 1,000,000.00 02/25/2026 Coupon 05611UAD5 939,719.50 BMWLT 2024-1 A3 4.98 03/25/2027 1,905.27 1,905.27 02/25/2026 Principal Paydown 05611UAD5 939,719.50 BMWLT 2024-1 A3 4.98 03/25/2027 110,535.83 110,535.83 02/25/2026 Coupon 096919AD7 600,000.00 BMWOT 2024-A A3 5.18 02/26/2029 2,518.48 2,518.48 02/25/2026 Principal Paydown 096919AD7 600,000.00 BMWOT 2024-A A3 5.18 02/26/2029 32,524.30 32,524.30 02/25/2026 Coupon 3137BSP72 2,000,000.00 FHMS K-058 A2 2.653 08/25/2026 4,421.67 4,421.67 02/25/2026 Coupon 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 2,381.20 2,381.20 02/25/2026 Principal Paydown 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 1,814.30 1,814.30 02/25/2026 Coupon 3137BVZ82 862,000.00 FHMS K-063 A2 3.43 01/25/2027 2,463.88 2,463.88 02/25/2026 Coupon 3137F1G44 1,000,000.00 FHMS K-065 A2 3.243 04/25/2027 2,702.50 2,702.50 02/25/2026 Coupon 3137F4X72 1,165,000.00 FHMS K-075 A2 3.65 02/25/2028 3,543.54 3,543.54 02/25/2026 Coupon 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 3,218.45 3,218.45 02/25/2026 Principal Paydown 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 2,093.15 2,093.15 229
| 46
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 02/25/2026 Coupon 3137FJEH8 1,250,000.00 FHMS K-081 A2 3.9 08/25/2028 4,062.50 4,062.50 02/25/2026 Coupon 3137FK4M5 2,000,000.00 FHMS K-085 A2 4.06 10/25/2028 6,766.67 6,766.67 02/25/2026 Coupon 3137FLMV3 2,000,000.00 FHMS K-090 A2 3.422 02/25/2029 5,703.33 5,703.33 02/25/2026 Coupon 3137H5YC5 1,500,000.00 FHMS K-748 A2 2.26 01/25/2029 2,825.00 2,825.00 02/25/2026 Coupon 3137HA4B9 2,000,000.00 FHMS K-751 A2 4.412 03/25/2030 7,353.33 7,353.33 02/25/2026 Coupon 66815L2X6 1,000,000.00 NORTHWESTERN MUTUAL GLOBAL FUNDING

4.125 08/25/2028 20,625.00 20,625.00
02/26/2026 Coupon 17275RBQ4 1,500,000.00 CISCO SYSTEMS INC 4.8 02/26/2027 36,000.00 36,000.00 February 2026
Total 1,348,060.64 528,188.37 1,876,249.01
MARCH 2026
03/02/2026 Coupon 74456QBX3 1,000,000.00 PUBLIC SERVICE ELECTRIC AND GAS CO 3.65 09/01/2028 18,250.00 18,250.00
03/02/2026 Coupon 91282CFH9 2,500,000.00 UNITED STATES TREASURY 3.125 08/31/2027 39,062.50 39,062.50 03/02/2026 Coupon 91282CFJ5 2,750,000.00 UNITED STATES TREASURY 3.125 08/31/2029 42,968.75 42,968.75 03/02/2026 Coupon 91282CKD2 2,250,000.00 UNITED STATES TREASURY 4.25 02/28/2029 47,812.50 47,812.50 03/10/2026 Coupon 3130ATS57 3,000,000.00 FEDERAL HOME LOAN BANKS 4.5 03/10/2028 67,500.00 67,500.00 03/11/2026 Coupon 3130AWTQ3 4,500,000.00 FEDERAL HOME LOAN BANKS 4.625 09/11/2026 104,062.50 104,062.50
03/16/2026 Coupon 02582JKH2 640,000.00 AMXCA 2024-1 A 5.23 04/16/2029 2,789.33 2,789.33 03/16/2026 Coupon 02582JKP4 1,255,000.00 AMXCA 2025-2 A 4.28 04/15/2030 4,476.17 4,476.17 03/16/2026 Coupon 161571HT4 1,320,000.00 CHAIT 2023-1 A 5.16 09/15/2028 5,676.00 5,676.00 03/16/2026 Coupon 362549AD9 370,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 1,319.67 1,319.67
03/16/2026 Coupon 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 3,938.97 3,938.97 03/16/2026 Principal Paydown 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 62,137.17 62,137.17 03/16/2026 Coupon 44935XAD7 585,000.00 HART 2025-B A3 4.36 12/17/2029 2,125.50 2,125.50 03/16/2026 Coupon 47800DAD6 670,000.00 JDOT 2025 A3 4.23 09/17/2029 2,361.75 2,361.75 03/16/2026 Coupon 47800RAD5 335,000.00 JDOT 2024 A3 4.96 11/15/2028 1,196.21 1,196.21 03/16/2026 Principal Paydown 47800RAD5 335,000.00 JDOT 2024 A3 4.96 11/15/2028 14,161.97 14,161.97 03/16/2026 Coupon 58768YAD7 770,000.00 MBALT 2025-A A3 4.61 04/16/2029 2,958.08 2,958.08 03/16/2026 Coupon 58769GAD5 545,000.00 MBALT 2024-B A3 4.23 02/15/2028 1,693.09 1,693.09 03/16/2026 Principal Paydown 58769GAD5 545,000.00 MBALT 2024-B A3 4.23 02/15/2028 45,682.84 45,682.84 230
| 47
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 03/16/2026 Coupon 58770JAD6 350,000.00 MBALT 2024-A A3 5.32 01/18/2028 1,351.92 1,351.92 03/16/2026 Principal Paydown 58770JAD6 350,000.00 MBALT 2024-A A3 5.32 01/18/2028 22,602.33 22,602.33 03/16/2026 Coupon 92970QAJ4 1,210,000.00 WFCIT 2025-1 A 4.34 05/15/2030 4,376.17 4,376.17 03/18/2026 Coupon 857477CL5 1,210,000.00 STATE STREET CORP 4.993 03/18/2027 30,207.65 30,207.65 03/20/2026 Coupon 36269FAD8 413,349.17 GMALT 2024-1 A3 5.09 03/22/2027 550.22 550.22 03/20/2026 Principal Paydown 36269FAD8 413,349.17 GMALT 2024-1 A3 5.09 03/22/2027 52,045.14 52,045.14 03/20/2026 Coupon 362962AD4 705,000.00 GMALT 2025-2 A3 4.58 05/22/2028 2,690.75 2,690.75 03/20/2026 Coupon 89236TKJ3 1,000,000.00 TOYOTA MOTOR CREDIT CORP 4.55 09/20/2027 22,750.00 22,750.00 03/20/2026 Coupon 92348KDY6 1,050,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 3,946.25 3,946.25 03/23/2026 Coupon 3133EPWK7 2,000,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.5 09/22/2028 45,000.00 45,000.00
03/25/2026 Coupon 05611UAD5 939,719.50 BMWLT 2024-1 A3 4.98 03/25/2027 1,446.54 1,446.54 03/25/2026 Principal Paydown 05611UAD5 939,719.50 BMWLT 2024-1 A3 4.98 03/25/2027 111,977.56 111,977.56 03/25/2026 Coupon 096919AD7 600,000.00 BMWOT 2024-A A3 5.18 02/26/2029 2,378.08 2,378.08 03/25/2026 Principal Paydown 096919AD7 600,000.00 BMWOT 2024-A A3 5.18 02/26/2029 31,528.03 31,528.03 03/25/2026 Coupon 3137BSP72 2,000,000.00 FHMS K-058 A2 2.653 08/25/2026 4,421.67 4,421.67 03/25/2026 Coupon 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 2,376.14 2,376.14 03/25/2026 Principal Paydown 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 2,125.95 2,125.95 03/25/2026 Coupon 3137BVZ82 862,000.00 FHMS K-063 A2 3.43 01/25/2027 2,463.88 2,463.88 03/25/2026 Coupon 3137F1G44 1,000,000.00 FHMS K-065 A2 3.243 04/25/2027 2,702.50 2,702.50 03/25/2026 Coupon 3137F4X72 1,165,000.00 FHMS K-075 A2 3.65 02/25/2028 3,543.54 3,543.54 03/25/2026 Coupon 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 3,212.89 3,212.89 03/25/2026 Principal Paydown 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 2,497.15 2,497.15 03/25/2026 Coupon 3137FJEH8 1,250,000.00 FHMS K-081 A2 3.9 08/25/2028 4,062.50 4,062.50 03/25/2026 Coupon 3137FK4M5 2,000,000.00 FHMS K-085 A2 4.06 10/25/2028 6,766.67 6,766.67 03/25/2026 Coupon 3137FLMV3 2,000,000.00 FHMS K-090 A2 3.422 02/25/2029 5,703.33 5,703.33 03/25/2026 Coupon 3137H5YC5 1,500,000.00 FHMS K-748 A2 2.26 01/25/2029 2,825.00 2,825.00 03/25/2026 Coupon 3137HA4B9 2,000,000.00 FHMS K-751 A2 4.412 03/25/2030 7,353.33 7,353.33 03/26/2026 Coupon 3133EP6K6 1,000,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.5 03/26/2027 22,500.00 22,500.00
03/27/2026 Coupon 57629TBW6 1,340,000.00 MASSMUTUAL GLOBAL FUNDING II 4.45 03/27/2028 29,815.00 29,815.00
231
| 48
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 03/31/2026 Coupon 9128286L9 2,500,000.00 UNITED STATES TREASURY 2.25 03/31/2026 28,125.00 28,125.00 03/31/2026 Final Maturity 9128286L9 2,500,000.00 UNITED STATES TREASURY 2.25 03/31/2026 2,500,000.00 2,500,000.00 03/31/2026 Coupon 91282CEF4 2,500,000.00 UNITED STATES TREASURY 2.5 03/31/2027 31,250.00 31,250.00 03/31/2026 Coupon 91282CFM8 1,600,000.00 UNITED STATES TREASURY 4.125 09/30/2027 33,000.00 33,000.00 March 2026 Total 2,844,758.15 653,010.05 3,497,768.21
APRIL 2026
04/01/2026 Coupon 64952WFJ7 1,000,000.00 NEW YORK LIFE GLOBAL FUNDING 3.9 10/01/2027 19,500.00 19,500.00
04/09/2026 Coupon 3130B0TY5 1,500,000.00 FEDERAL HOME LOAN BANKS 4.75 04/09/2027 35,625.00 35,625.00 04/10/2026 Coupon 57629W6F2 750,000.00 MASSMUTUAL GLOBAL FUNDING II 4.5 04/10/2026 16,875.00 16,875.00
04/10/2026 Final Maturity 57629W6F2 750,000.00 MASSMUTUAL GLOBAL FUNDING II 4.5 04/10/2026 750,000.00 750,000.00
04/15/2026 Coupon 02582JKH2 640,000.00 AMXCA 2024-1 A 5.23 04/16/2029 2,789.33 2,789.33 04/15/2026 Coupon 02582JKP4 1,255,000.00 AMXCA 2025-2 A 4.28 04/15/2030 4,476.17 4,476.17 04/15/2026 Coupon 161571HT4 1,320,000.00 CHAIT 2023-1 A 5.16 09/15/2028 5,676.00 5,676.00 04/15/2026 Coupon 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 3,669.19 3,669.19 04/15/2026 Principal Paydown 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 64,108.28 64,108.28 04/15/2026 Coupon 44935XAD7 585,000.00 HART 2025-B A3 4.36 12/17/2029 2,125.50 2,125.50 04/15/2026 Coupon 47800DAD6 670,000.00 JDOT 2025 A3 4.23 09/17/2029 2,361.75 2,361.75 04/15/2026 Coupon 47800RAD5 335,000.00 JDOT 2024 A3 4.96 11/15/2028 1,137.68 1,137.68 04/15/2026 Principal Paydown 47800RAD5 335,000.00 JDOT 2024 A3 4.96 11/15/2028 17,546.79 17,546.79
04/15/2026 Coupon 58768YAD7 770,000.00 MBALT 2025-A A3 4.61 04/16/2029 2,958.08 2,958.08 04/15/2026 Coupon 58769GAD5 545,000.00 MBALT 2024-B A3 4.23 02/15/2028 1,532.05 1,532.05 04/15/2026 Principal Paydown 58769GAD5 545,000.00 MBALT 2024-B A3 4.23 02/15/2028 52,943.56 52,943.56 04/15/2026 Coupon 58770JAD6 350,000.00 MBALT 2024-A A3 5.32 01/18/2028 1,251.72 1,251.72 04/15/2026 Principal Paydown 58770JAD6 350,000.00 MBALT 2024-A A3 5.32 01/18/2028 25,204.87 25,204.87 04/15/2026 Coupon 91282CGV7 2,000,000.00 UNITED STATES TREASURY 3.75 04/15/2026 37,500.00 37,500.00 04/15/2026 Final Maturity 91282CGV7 2,000,000.00 UNITED STATES TREASURY 3.75 04/15/2026 2,000,000.00 2,000,000.00 04/15/2026 Coupon 91324PDE9 1,250,000.00 UNITEDHEALTH GROUP INC 2.95 10/15/2027 18,437.50 18,437.50 04/15/2026 Coupon 92970QAJ4 1,210,000.00 WFCIT 2025-1 A 4.34 05/15/2030 4,376.17 4,376.17 04/16/2026 Coupon 362549AD9 370,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 1,319.67 1,319.67 232
| 49
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 04/20/2026 Coupon 36269FAD8 413,349.17 GMALT 2024-1 A3 5.09 03/22/2027 329.46 329.46 04/20/2026 Principal Paydown 36269FAD8 413,349.17 GMALT 2024-1 A3 5.09 03/22/2027 56,427.53 56,427.53 04/20/2026 Coupon 362962AD4 705,000.00 GMALT 2025-2 A3 4.58 05/22/2028 2,690.75 2,690.75 04/20/2026 Coupon 92348KDY6 1,050,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 3,946.25 3,946.25 04/27/2026 Coupon 05611UAD5 939,719.50 BMWLT 2024-1 A3 4.98 03/25/2027 981.83 981.83 04/27/2026 Principal Paydown 05611UAD5 939,719.50 BMWLT 2024-1 A3 4.98 03/25/2027 122,525.17 122,525.17 04/27/2026 Coupon 096919AD7 600,000.00 BMWOT 2024-A A3 5.18 02/26/2029 2,241.98 2,241.98 04/27/2026 Principal Paydown 096919AD7 600,000.00 BMWOT 2024-A A3 5.18 02/26/2029 31,701.50 31,701.50 04/27/2026 Coupon 3137BSP72 2,000,000.00 FHMS K-058 A2 2.653 08/25/2026 4,421.67 4,421.67 04/27/2026 Coupon 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 2,370.21 2,370.21 04/27/2026 Principal Paydown 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 1,826.33 1,826.33 04/27/2026 Coupon 3137BVZ82 862,000.00 FHMS K-063 A2 3.43 01/25/2027 2,463.88 2,463.88 04/27/2026 Coupon 3137F1G44 1,000,000.00 FHMS K-065 A2 3.243 04/25/2027 2,702.50 2,702.50 04/27/2026 Coupon 3137F4X72 1,165,000.00 FHMS K-075 A2 3.65 02/25/2028 3,543.54 3,543.54 04/27/2026 Coupon 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 3,206.26 3,206.26 04/27/2026 Principal Paydown 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 2,107.77 2,107.77 04/27/2026 Coupon 3137FJEH8 1,250,000.00 FHMS K-081 A2 3.9 08/25/2028 4,062.50 4,062.50 04/27/2026 Coupon 3137FK4M5 2,000,000.00 FHMS K-085 A2 4.06 10/25/2028 6,766.67 6,766.67 04/27/2026 Coupon 3137FLMV3 2,000,000.00 FHMS K-090 A2 3.422 02/25/2029 5,703.33 5,703.33 04/27/2026 Coupon 3137H5YC5 1,500,000.00 FHMS K-748 A2 2.26 01/25/2029 2,825.00 2,825.00 04/27/2026 Coupon 3137HA4B9 2,000,000.00 FHMS K-751 A2 4.412 03/25/2030 7,353.33 7,353.33 04/30/2026 Coupon 91282CFT3 1,700,000.00 UNITED STATES TREASURY 4.0 10/31/2029 34,000.00 34,000.00 April 2026 Total 3,124,391.82 251,219.98 3,375,611.80
MAY 2026
05/01/2026 Coupon 74456QBU9 750,000.00 PUBLIC SERVICE ELECTRIC AND GAS CO 3.7 05/01/2028 13,875.00 13,875.00
05/04/2026 Coupon 00440EAV9 1,000,000.00 CHUBB INA HOLDINGS LLC 3.35 05/03/2026 16,750.00 16,750.00 05/04/2026 Final Maturity 00440EAV9 1,000,000.00 CHUBB INA HOLDINGS LLC 3.35 05/03/2026 1,000,000.00 1,000,000.00 05/05/2026 Coupon 459058LT8 1,335,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.625 05/05/2028 24,196.88 24,196.88
05/08/2026 Coupon 3133ERDZ1 1,000,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.75 05/08/2026 23,750.00 23,750.00
233
| 50
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 05/08/2026 Final Maturity 3133ERDZ1 1,000,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.75 05/08/2026 1,000,000.00 1,000,000.00
05/11/2026 Coupon 665859AW4 1,000,000.00 NORTHERN TRUST CORP 4.0 05/10/2027 20,000.00 20,000.00 05/11/2026 Coupon 713448FW3 510,000.00 PEPSICO INC 5.125 11/10/2026 13,068.75 13,068.75 05/15/2026 Coupon 009158AY2 1,500,000.00 AIR PRODUCTS AND CHEMICALS INC 1.85 05/15/2027 13,875.00 13,875.00
05/15/2026 Coupon 02582JKH2 640,000.00 AMXCA 2024-1 A 5.23 04/16/2029 2,789.33 2,789.33 05/15/2026 Coupon 02582JKP4 1,255,000.00 AMXCA 2025-2 A 4.28 04/15/2030 4,476.17 4,476.17 05/15/2026 Coupon 161571HT4 1,320,000.00 CHAIT 2023-1 A 5.16 09/15/2028 5,676.00 5,676.00 05/15/2026 Coupon 341081GN1 1,500,000.00 FLORIDA POWER & LIGHT CO 4.4 05/15/2028 33,000.00 33,000.00 05/15/2026 Coupon 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 3,390.86 3,390.86 05/15/2026 Principal Paydown 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 61,625.95 61,625.95 05/15/2026 Coupon 44935XAD7 585,000.00 HART 2025-B A3 4.36 12/17/2029 2,125.50 2,125.50 05/15/2026 Coupon 47800DAD6 670,000.00 JDOT 2025 A3 4.23 09/17/2029 2,361.75 2,361.75 05/15/2026 Coupon 47800RAD5 335,000.00 JDOT 2024 A3 4.96 11/15/2028 1,065.15 1,065.15 05/15/2026 Principal Paydown 47800RAD5 335,000.00 JDOT 2024 A3 4.96 11/15/2028 16,917.98 16,917.98 05/15/2026 Coupon 58768YAD7 770,000.00 MBALT 2025-A A3 4.61 04/16/2029 2,958.08 2,958.08 05/15/2026 Coupon 58769GAD5 545,000.00 MBALT 2024-B A3 4.23 02/15/2028 1,345.43 1,345.43 05/15/2026 Principal Paydown 58769GAD5 545,000.00 MBALT 2024-B A3 4.23 02/15/2028 45,036.16 45,036.16 05/15/2026 Coupon 58770JAD6 350,000.00 MBALT 2024-A A3 5.32 01/18/2028 1,139.98 1,139.98
05/15/2026 Principal Paydown 58770JAD6 350,000.00 MBALT 2024-A A3 5.32 01/18/2028 25,557.99 25,557.99 05/15/2026 Coupon 90331HPS6 1,330,000.00 US BANK NA 4.73 05/15/2028 31,454.50 31,454.50 05/15/2026 Coupon 9128283F5 1,400,000.00 UNITED STATES TREASURY 2.25 11/15/2027 15,750.00 15,750.00 05/15/2026 Coupon 9128285M8 2,000,000.00 UNITED STATES TREASURY 3.125 11/15/2028 31,250.00 31,250.00 05/15/2026 Coupon 912828U24 3,000,000.00 UNITED STATES TREASURY 2.0 11/15/2026 30,000.00 30,000.00 05/15/2026 Coupon 92970QAJ4 1,210,000.00 WFCIT 2025-1 A 4.34 05/15/2030 4,376.17 4,376.17 05/18/2026 Coupon 3130AXU63 1,750,000.00 FEDERAL HOME LOAN BANKS 4.625 11/17/2026 40,468.75 40,468.75
05/18/2026 Coupon 362549AD9 370,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 1,319.67 1,319.67 05/20/2026 Coupon 3133ERFJ5 1,000,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.5 05/20/2027 22,500.00 22,500.00
05/20/2026 Coupon 36269FAD8 413,349.17 GMALT 2024-1 A3 5.09 03/22/2027 90.11 90.11 234
| 51
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 05/20/2026 Effective Maturity 36269FAD8 413,349.17 GMALT 2024-1 A3 5.09 03/22/2027 21,244.34 21,244.34 05/20/2026 Coupon 362962AD4 705,000.00 GMALT 2025-2 A3 4.58 05/22/2028 2,690.75 2,690.75 05/20/2026 Coupon 92348KDY6 1,050,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 3,946.25 3,946.25 05/25/2026 Coupon 05611UAD5 939,719.50 BMWLT 2024-1 A3 4.98 03/25/2027 473.35 473.35 05/25/2026 Principal Paydown 05611UAD5 939,719.50 BMWLT 2024-1 A3 4.98 03/25/2027 101,947.93 101,947.93 05/25/2026 Coupon 096919AD7 600,000.00 BMWOT 2024-A A3 5.18 02/26/2029 2,105.14 2,105.14 05/25/2026 Principal Paydown 096919AD7 600,000.00 BMWOT 2024-A A3 5.18 02/26/2029 30,428.65 30,428.65 05/25/2026 Coupon 3137BSP72 2,000,000.00 FHMS K-058 A2 2.653 08/25/2026 4,421.67 4,421.67 05/25/2026 Coupon 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 2,365.11 2,365.11 05/25/2026 Principal Paydown 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 1,933.42 1,933.42 05/25/2026 Coupon 3137BVZ82 862,000.00 FHMS K-063 A2 3.43 01/25/2027 2,463.88 2,463.88 05/25/2026 Coupon 3137F1G44 1,000,000.00 FHMS K-065 A2 3.243 04/25/2027 2,702.50 2,702.50 05/25/2026 Coupon 3137F4X72 1,165,000.00 FHMS K-075 A2 3.65 02/25/2028 3,543.54 3,543.54 05/25/2026 Coupon 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 3,200.66 3,200.66 05/25/2026 Principal Paydown 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 2,246.33 2,246.33 05/25/2026 Coupon 3137FJEH8 1,250,000.00 FHMS K-081 A2 3.9 08/25/2028 4,062.50 4,062.50 05/25/2026 Coupon 3137FK4M5 2,000,000.00 FHMS K-085 A2 4.06 10/25/2028 6,766.67 6,766.67 05/25/2026 Coupon 3137FLMV3 2,000,000.00 FHMS K-090 A2 3.422 02/25/2029 5,703.33 5,703.33 05/25/2026 Coupon 3137H5YC5 1,500,000.00 FHMS K-748 A2 2.26 01/25/2029 2,825.00 2,825.00 05/25/2026 Coupon 3137HA4B9 2,000,000.00 FHMS K-751 A2 4.412 03/25/2030 7,353.33 7,353.33 May 2026 Total 2,306,938.74 417,676.76 2,724,615.51
JUNE 2026
06/01/2026 Coupon 91282CFY2 3,000,000.00 UNITED STATES TREASURY 3.875 11/30/2029 58,125.00 58,125.00 06/08/2026 Coupon 48125LRU8 1,575,000.00 JPMORGAN CHASE BANK NA 5.11 12/08/2026 40,241.25 40,241.25 06/09/2026 Coupon 3130AVVX7 1,120,000.00 FEDERAL HOME LOAN BANKS 3.75 06/09/2028 21,000.00 21,000.00 06/09/2026 Coupon 3130AWC24 2,000,000.00 FEDERAL HOME LOAN BANKS 4.0 06/09/2028 40,000.00 40,000.00 06/12/2026 Coupon 3130AWLZ1 2,000,000.00 FEDERAL HOME LOAN BANKS 4.75 06/12/2026 47,500.00 47,500.00 06/12/2026 Final Maturity 3130AWLZ1 2,000,000.00 FEDERAL HOME LOAN BANKS 4.75 06/12/2026 2,000,000.00 2,000,000.00 06/15/2026 Coupon 02582JKH2 640,000.00 AMXCA 2024-1 A 5.23 04/16/2029 2,789.33 2,789.33 06/15/2026 Coupon 02582JKP4 1,255,000.00 AMXCA 2025-2 A 4.28 04/15/2030 4,476.17 4,476.17 06/15/2026 Coupon 161571HT4 1,320,000.00 CHAIT 2023-1 A 5.16 09/15/2028 5,676.00 5,676.00 06/15/2026 Coupon 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 3,123.30 3,123.30 235
| 52
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 06/15/2026 Principal Paydown 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 60,437.72 60,437.72 06/15/2026 Coupon 44935XAD7 585,000.00 HART 2025-B A3 4.36 12/17/2029 2,125.50 2,125.50 06/15/2026 Coupon 47800DAD6 670,000.00 JDOT 2025 A3 4.23 09/17/2029 2,361.75 2,361.75 06/15/2026 Coupon 47800RAD5 335,000.00 JDOT 2024 A3 4.96 11/15/2028 995.22 995.22 06/15/2026 Principal Paydown 47800RAD5 335,000.00 JDOT 2024 A3 4.96 11/15/2028 15,271.36 15,271.36 06/15/2026 Coupon 58768YAD7 770,000.00 MBALT 2025-A A3 4.61 04/16/2029 2,958.08 2,958.08 06/15/2026 Coupon 58769GAD5 545,000.00 MBALT 2024-B A3 4.23 02/15/2028 1,186.68 1,186.68 06/15/2026 Principal Paydown 58769GAD5 545,000.00 MBALT 2024-B A3 4.23 02/15/2028 42,484.75 42,484.75 06/15/2026 Coupon 58770JAD6 350,000.00 MBALT 2024-A A3 5.32 01/18/2028 1,026.67 1,026.67 06/15/2026 Principal Paydown 58770JAD6 350,000.00 MBALT 2024-A A3 5.32 01/18/2028 31,474.91 31,474.91 06/15/2026 Coupon 87612EBU9 570,000.00 TARGET CORP 4.35 06/15/2028 12,397.50 12,397.50 06/15/2026 Coupon 92970QAJ4 1,210,000.00 WFCIT 2025-1 A 4.34 05/15/2030 4,376.17 4,376.17 06/16/2026 Coupon 362549AD9 370,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 1,319.67 1,319.67 06/22/2026 Coupon 362962AD4 705,000.00 GMALT 2025-2 A3 4.58 05/22/2028 2,690.75 2,690.75 06/22/2026 Coupon 58989V2F0 1,000,000.00 MET TOWER GLOBAL FUNDING 5.4 06/20/2026 27,000.00 27,000.00 06/22/2026 Final Maturity 58989V2F0 1,000,000.00 MET TOWER GLOBAL FUNDING 5.4 06/20/2026 1,000,000.00 1,000,000.00 06/22/2026 Coupon 92348KDY6 1,050,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 3,946.25 3,946.25 06/25/2026 Coupon 05611UAD5 939,719.50 BMWLT 2024-1 A3 4.98 03/25/2027 50.27 50.27 06/25/2026 Effective Maturity 05611UAD5 939,719.50 BMWLT 2024-1 A3 4.98 03/25/2027 12,113.49 12,113.49 06/25/2026 Coupon 096919AD7 600,000.00 BMWOT 2024-A A3 5.18 02/26/2029 1,973.79 1,973.79 06/25/2026 Principal Paydown 096919AD7 600,000.00 BMWOT 2024-A A3 5.18 02/26/2029 29,942.64 29,942.64 06/25/2026 Coupon 3137BSP72 2,000,000.00 FHMS K-058 A2 2.653 08/25/2026 4,421.67 4,421.67 06/25/2026 Coupon 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 2,359.72 2,359.72 06/25/2026 Principal Paydown 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 1,837.74 1,837.74 06/25/2026 Coupon 3137BVZ82 862,000.00 FHMS K-063 A2 3.43 01/25/2027 2,463.88 2,463.88 06/25/2026 Coupon 3137F1G44 1,000,000.00 FHMS K-065 A2 3.243 04/25/2027 2,702.50 2,702.50 06/25/2026 Coupon 3137F4X72 1,165,000.00 FHMS K-075 A2 3.65 02/25/2028 3,543.54 3,543.54 06/25/2026 Coupon 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 3,194.70 3,194.70 06/25/2026 Principal Paydown 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 2,121.58 2,121.58 06/25/2026 Coupon 3137FJEH8 1,250,000.00 FHMS K-081 A2 3.9 08/25/2028 4,062.50 4,062.50 06/25/2026 Coupon 3137FK4M5 2,000,000.00 FHMS K-085 A2 4.06 10/25/2028 6,766.67 6,766.67 06/25/2026 Coupon 3137FLMV3 2,000,000.00 FHMS K-090 A2 3.422 02/25/2029 5,703.33 5,703.33 236
| 53
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 06/25/2026 Coupon 3137H5YC5 1,500,000.00 FHMS K-748 A2 2.26 01/25/2029 2,825.00 2,825.00 06/25/2026 Coupon 3137HA4B9 2,000,000.00 FHMS K-751 A2 4.412 03/25/2030 7,353.33 7,353.33 06/25/2026 Coupon 437076DB5 740,000.00 HOME DEPOT INC 4.875 06/25/2027 18,037.50 18,037.50 06/30/2026 Coupon 912828YX2 1,750,000.00 UNITED STATES TREASURY 1.75 12/31/2026 15,312.50 15,312.50 06/30/2026 Coupon 91282CEW7 1,300,000.00 UNITED STATES TREASURY 3.25 06/30/2027 21,125.00 21,125.00 06/30/2026 Coupon 91282CGB1 3,000,000.00 UNITED STATES TREASURY 3.875 12/31/2029 58,125.00 58,125.00 June 2026 Total 3,195,684.20 445,336.19 3,641,020.38
JULY 2026
07/07/2026 Coupon 24422EXZ7 700,000.00 JOHN DEERE CAPITAL CORP 4.65 01/07/2028 16,275.00 16,275.00 07/08/2026 Coupon 24422EXF1 1,000,000.00 JOHN DEERE CAPITAL CORP 4.5 01/08/2027 22,500.00 22,500.00 07/10/2026 Coupon 64952WCX9 1,000,000.00 NEW YORK LIFE GLOBAL FUNDING 3.0 01/10/2028 15,000.00 15,000.00
07/13/2026 Coupon 459058KT9 500,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.5 07/12/2028 8,750.00 8,750.00
07/15/2026 Coupon 02582JKH2 640,000.00 AMXCA 2024-1 A 5.23 04/16/2029 2,789.33 2,789.33 07/15/2026 Coupon 02582JKP4 1,255,000.00 AMXCA 2025-2 A 4.28 04/15/2030 4,476.17 4,476.17 07/15/2026 Coupon 161571HT4 1,320,000.00 CHAIT 2023-1 A 5.16 09/15/2028 5,676.00 5,676.00 07/15/2026 Coupon 26444HAE1 1,000,000.00 DUKE ENERGY FLORIDA LLC 3.8 07/15/2028 19,000.00 19,000.00 07/15/2026 Coupon 3130AYPN0 2,000,000.00 FEDERAL HOME LOAN BANKS 4.125 01/15/2027 41,250.00 41,250.00
07/15/2026 Coupon 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 2,860.90 2,860.90 07/15/2026 Principal Paydown 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 59,127.35 59,127.35
07/15/2026 Coupon 44935XAD7 585,000.00 HART 2025-B A3 4.36 12/17/2029 2,125.50 2,125.50 07/15/2026 Coupon 47800DAD6 670,000.00 JDOT 2025 A3 4.23 09/17/2029 2,361.75 2,361.75 07/15/2026 Coupon 47800RAD5 335,000.00 JDOT 2024 A3 4.96 11/15/2028 932.10 932.10 07/15/2026 Principal Paydown 47800RAD5 335,000.00 JDOT 2024 A3 4.96 11/15/2028 15,626.09 15,626.09 07/15/2026 Coupon 58768YAD7 770,000.00 MBALT 2025-A A3 4.61 04/16/2029 2,958.08 2,958.08 07/15/2026 Coupon 58769GAD5 545,000.00 MBALT 2024-B A3 4.23 02/15/2028 1,036.92 1,036.92 07/15/2026 Principal Paydown 58769GAD5 545,000.00 MBALT 2024-B A3 4.23 02/15/2028 39,587.84 39,587.84 07/15/2026 Coupon 58770JAD6 350,000.00 MBALT 2024-A A3 5.32 01/18/2028 887.13 887.13 07/15/2026 Principal Paydown 58770JAD6 350,000.00 MBALT 2024-A A3 5.32 01/18/2028 29,346.32 29,346.32 07/15/2026 Coupon 713448GL6 1,000,000.00 PEPSICO INC 4.1 01/15/2029 20,500.00 20,500.00 237
| 54
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 07/15/2026 Coupon 92970QAJ4 1,210,000.00 WFCIT 2025-1 A 4.34 05/15/2030 4,376.17 4,376.17 07/16/2026 Coupon 362549AD9 370,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 1,319.67 1,319.67 07/20/2026 Coupon 06428CAA2 1,000,000.00 BANK OF AMERICA NA 5.526 08/18/2026 23,025.00 23,025.00 07/20/2026 Effective Maturity 06428CAA2 1,000,000.00 BANK OF AMERICA NA 5.526 08/18/2026 1,000,000.00 1,000,000.00 07/20/2026 Coupon 362962AD4 705,000.00 GMALT 2025-2 A3 4.58 05/22/2028 2,690.75 2,690.75 07/20/2026 Coupon 78016HZT0 1,245,000.00 ROYAL BANK OF CANADA 4.875 01/19/2027 30,346.88 30,346.88 07/20/2026 Coupon 92348KDY6 1,050,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 3,946.25 3,946.25 07/27/2026 Coupon 06368MJG0 1,500,000.00 BANK OF MONTREAL 5.004 01/27/2029 37,530.00 37,530.00 07/27/2026 Coupon 09290DAH4 750,000.00 BLACKROCK INC 4.6 07/26/2027 17,250.00 17,250.00 07/27/2026 Coupon 096919AD7 600,000.00 BMWOT 2024-A A3 5.18 02/26/2029 1,844.54 1,844.54 07/27/2026 Principal Paydown 096919AD7 600,000.00 BMWOT 2024-A A3 5.18 02/26/2029 29,380.78 29,380.78 07/27/2026 Coupon 3137BSP72 2,000,000.00 FHMS K-058 A2 2.653 08/25/2026 4,421.67 4,421.67 07/27/2026 Principal Paydown 3137BSP72 2,000,000.00 FHMS K-058 A2 2.653 08/25/2026 972,664.75 972,664.75 07/27/2026 Coupon 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 2,354.60 2,354.60 07/27/2026 Principal Paydown 3137BTUM1 862,923.88 FHMS K-061 A2 3.347 11/25/2026 1,944.38 1,944.38 07/27/2026 Coupon 3137BVZ82 862,000.00 FHMS K-063 A2 3.43 01/25/2027 2,463.88 2,463.88 07/27/2026 Coupon 3137F1G44 1,000,000.00 FHMS K-065 A2 3.243 04/25/2027 2,702.50 2,702.50 07/27/2026 Coupon 3137F4X72 1,165,000.00 FHMS K-075 A2 3.65 02/25/2028 3,543.54 3,543.54 07/27/2026 Coupon 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 3,189.06 3,189.06 07/27/2026 Principal Paydown 3137FBU79 1,222,473.43 FHMS K-069 A2 3.187 09/25/2027 2,259.63 2,259.63 07/27/2026 Coupon 3137FJEH8 1,250,000.00 FHMS K-081 A2 3.9 08/25/2028 4,062.50 4,062.50 07/27/2026 Coupon 3137FK4M5 2,000,000.00 FHMS K-085 A2 4.06 10/25/2028 6,766.67 6,766.67 07/27/2026 Coupon 3137FLMV3 2,000,000.00 FHMS K-090 A2 3.422 02/25/2029 5,703.33 5,703.33 07/27/2026 Coupon 3137H5YC5 1,500,000.00 FHMS K-748 A2 2.26 01/25/2029 2,825.00 2,825.00 07/27/2026 Coupon 3137HA4B9 2,000,000.00 FHMS K-751 A2 4.412 03/25/2030 7,353.33 7,353.33 07/30/2026 Coupon 3133EPZY4 2,000,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

5.0 07/30/2026 50,000.00 50,000.00
07/30/2026 Final Maturity 3133EPZY4 2,000,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

5.0 07/30/2026 2,000,000.00 2,000,000.00
07/31/2026 Coupon 91282CFB2 2,000,000.00 UNITED STATES TREASURY 2.75 07/31/2027 27,500.00 27,500.00 07/31/2026 Coupon 91282CGH8 1,500,000.00 UNITED STATES TREASURY 3.5 01/31/2028 26,250.00 26,250.00 07/31/2026 Coupon 91282CLC3 2,000,000.00 UNITED STATES TREASURY 4.0 07/31/2029 40,000.00 40,000.00 238
| 55
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount July 2026 Total 4,149,937.14 480,844.21 4,630,781.35
Grand Total 619,236,347.42 32,303,501.06 5,151,754.28 37,455,255.34 239
| 56
Murrieta Consolidated | Account | As of August 31, 2025 Execution Time: 09/04/2025 12:47:57 AM

IMPORTANT DISCLOSURES
Chandler Asset Management, Inc. (“Chandler”) is an SEC registered investment adviser. For additional information about our firm, please see our current disclosures (Form ADV).

To obtain a copy of our current disclosures, you may contact your client service representative by calling the number on the front of this statement or you may visit our website at www.chandlerasset.com.

Information contained in this monthly statement is confidential and is provided for informational purposes only and should not be construed as specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of this statement, but may become outdated or superseded at any time without notice.

Custody: Your qualified custodian bank maintains control of all assets reflected in this statement and we urge you to compare this statement to the one you receive from your qualified custodian. Chandler does not have any authority to withdraw or deposit funds from/to the custodian account.

Valuation: Prices are provided by IDC, an independent pricing source. In the event IDC does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A.

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

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE INDICES AND RELATED DATA ON AN “AS IS” BASIS; ICE, ITS AFFILIATES AND

THEIR RESPECTIVE THIRD PARTY SUPPLIERS DISCLAIM ANY AND ALL WARRANTIES AND REPRESENTATIONS, EXPRESS AND/OR IMPLIED, INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, INCLUDING THE INDICES, INDEX DATA AND ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM.

NEITHER ICE DATA, ITS AFFILIATES OR THEIR RESPECTIVE THIRD PARTY PROVIDERS GUARANTEE THE QUALITY , ADEQUACY , ACCURACY , TIMELINESS OR COMPLETENESS OF THE INDICES OR THE INDEX DATA OR ANY COMPONENT THEREOF, AND THE INDICES AND INDEX DATA AND ALL COMPONENTS THEREOF ARE PROVIDED ON AN “AS IS” BASIS AND LICENSEE’S USE IS AT LICENSEE’S OWN RISK. ICE DATA, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY DO NOT SPONSOR, ENDORSE, OR RECOMMEND CHANDLER, OR ANY OF ITS PRODUCTS OR SERVICES.

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

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

Security level ratings for U.S. Agency issued mortgage-backed securities (“MBS”) reflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest. 240
Local Agency Investment Fund
P.O. Box 942809
Sacramento, CA 94209-0001
(916) 653-3001
September 19, 2025
LAIF Home
PMIA Average Monthly
Yields

CITY OF MURRIETA

FINANCE DIRECTOR
1 TOWNE SQUARE
MURRIETA, CA 92562
Tran Type Definitions

0.00 Beginning Balance: 2,021,589.77
Account Number:

August 2025 Statement
Account Summary
Total Deposit:

Total Withdrawal:

0.00 Ending Balance: 2,021,589.77
9/19/25, 12:04 PM LAIF Regular Monthly Statement
https://laifms.treasurer.ca.gov/RegularStatement.aspx 1/1241

STAGECOACH SWEEP
WELLS FARGO BANK, N.A.

THIS STATEMENT COVERS 08/01/2025 THROUGH 08/31/2025

FUNDS HELD ON COMPANY'S BEHALF IN THE OMNIBUS DEPOSIT ACCOUNT AT BANK ARE

DEPOSITS AND ARE ELIGIBLE FOR FDIC INSURANCE IN ACCORDANCE WITH FDIC RULES AND LIMITS. COMPANY'S MMMF SHARES HELD IN THE OMNIBUS INVESTMENT ACCOUNT IN

BANK'S NAME AT THE CUSTODIAN OF THE MMMF ARE NOT DEPOSITS AND ARE NOT ELIGIBLE FOR FDIC INSURANCE. COMPANY IS THE OWNER OF ITS MMMF SHARES.

ALLSPRING GOVERNMENT FUND SELECT CLS
Transaction Detail
Date Description Amount
8-01-2025 Beginning Balance 119,544,405.52
8-01-2025 Sweep Funds Return To DDA 184,152.65
8-04-2025 Next Day Sweep Purchase 182,652.59
8-05-2025 Next Day Sweep Purchase 26,459.80
8-06-2025 Sweep Funds Return To DDA 753,282.81
8-07-2025 Sweep Funds Return To DDA 1,635,906.17
8-08-2025 Sweep Funds Return To DDA 36,631.60
8-11-2025 Next Day Sweep Purchase 170,369.13
8-12-2025 Sweep Funds Return To DDA 620,329.93
8-13-2025 Sweep Funds Return To DDA 77,528.35
8-14-2025 Sweep Funds Return To DDA 183,529.62
8-15-2025 Next Day Sweep Purchase 33,509.91
8-18-2025 Next Day Sweep Purchase 354,753.77
8-19-2025 Next Day Sweep Purchase 2,228,107.48
8-20-2025 Sweep Funds Return To DDA 2,139,748.19
8-21-2025 Sweep Funds Return To DDA 594,717.95
8-22-2025 Sweep Funds Return To DDA 131,063.33
8-25-2025 Sweep Funds Return To DDA 412,549.06
8-26-2025 Sweep Funds Return To DDA 146,329.56
8-27-2025 Next Day Sweep Purchase 4,346,089.19
8-28-2025 Next Day Sweep Purchase 730.35
8-29-2025 Next Day Sweep Purchase 112,953.89
8-31-2025 Ending Balance 120,084,262.41
Daily Balance Information
Date Investment Balance Annualized Fund Yield Daily Dividend Factor Daily Accrual 08-01 119,360,252.87 4.225 % .000115761 13,817.26
08-02* 119,360,252.87 4.225 % .000115761 13,817.26
08-03* 119,360,252.87 4.225 % .000115761 13,817.26