DEVELOPER’S STATEMENT Legend Communities, with headquarters in Austin, , manages the development of single family residential, multi-family and associated commercial projects in , as well as California. The company’s Principals – Haythem Dawlett and John Scardino – bring decades of planning, construction, sales and marketing experience to diverse recreational, master planned residential and mixed use communities featuring lake and golf course amenities, as well as retail, office and multi-use commercial projects. They have developed over 6,000 acres of single family residential, and have 500+units under development in Texas. Legend has developed over 186,000 SF of office space, 1,000,000 SF of self storage, over 900 boat slips, and more than 500 multifamily condominium and apartment units.

Legend Communities and its affiliates have earned recognition for their projects from a number of highly-regarded local and national industry associations including the U.S. Department of Housing and Urban Development (HUD), Urban Land Institute (ULI), National Association of Home Builders and the City of Austin Green Builder Program.

For its residential real estate efforts, the mission of Legend Communities is to acquire and develop highly amenitized master-planned communities in supply restricted markets with strong buyer demand. In the Central Coast of California, where projects may take up to 14 years to obtain approval, limited supply matched with a growing demand allow the Principals’ fully amenitized projects to significantly outsell the rest of the market. Similarly, in Austin, the developers have acquired properties that are difficult to entitle and provided planning, amenities and product that appeals to buyers and tenants. Special emphasis is placed on the active adult market as it represents a growing buyer profile with the resources to buy in many of the desirable communities. Legend Communities is increasing a commercial core development of residential rental and Class A self storage as well as other income producing opportunities.

The company is committed to the highest standards of quality construction, service and attention to detail in all endeavors, and places an emphasis on giving back to the communities where it operates through business, civic and charitable contributions. THE PRINCIPALS

Haythem Dawlett is a Founder and Vice President of Austin, Texas-based development company Legend Communities.

Dawlett’s experience in the industry spans over three decades, specializing in the development, construction and sales of single family residential, multi-family and associated commercial, self storage and marina projects in Texas and California. Whether for entry-level, move-up or high-end custom homes, as well as small to mid-size commercial projects, Dawlett has built a reputation for quality construction, unmatched service and critical to detail throughout the development process. He is personally invested in all elements of the project, from planning and development through the construction and marketing phases, resulting in over $2.0 billion in sales. Dawlett’s development companies and projects have earned recognition from a number of well-regarded local and national industry associations including the U.S. Department of Housing and Urban Development (HUD), Urban Land Institute (ULI), National Association of Home Builders, Home Builders Association of and the City of Austin Green Builder Program. Dawlett is highly active in the Central Texas community, with an emphasis on supporting area civic, business, education and sports initiatives. His activities have contributed to the growth and enhancement of facilities and programs involving the Lake Travis Education Foundation, Lake Travis Elementary, Lake Travis High School, Lakeway Heritage Center and Lake Travis Library. Dawlett is heavily involved with helping foster children and underprivileged youth. Dawlett has served on the board of TexArts, and has been involved with other non- profit organizations including Any Baby Can, A World for Children and Green Santa.

He resides in Austin, Texas with his two sons Grant and Pierce. John Scardino is a founder and President of JHS, LLC of California, and affiliate companies Western Pacific Land Group, and Texas-based Legend Communities. Scardino began his career as a licensed attorney in 1983 in Washington and California, before entering the development field in 1985. Over the past 30 years he has specialized in real estate acquisition, construction, sales, leasing and syndication for diverse single family residential, multi-family and associated commercial projects in the central coast of California, as well as Central Texas. Scardino has acquired, planned, developed or constructed over $2.0 billion of real estate since joining the industry, with an emphasis on recreational, master planned residential and mixed use communities featuring lake and golf course amenities, as well as retail, office and multi-purpose commercial projects.

Scardino’s development companies and projects have earned recognition from a number of well-regarded local and national industry associations including the U.S. Department of Housing and Urban Development (HUD), Urban Land Institute (ULI), National Association of Home Builders and the City of Austin Green Builder Program.. Scardino invests his time and resources in causes that bring him a very different type of satisfaction than business dealings. He is committed to supporting the Boys & Girls Clubs, as well as over 25 separate children’s charities such as Maldonado Youth Center, Big Brothers Big Sisters and Nipomo Community Center that provide an avenue for children to better themselves and achieve their goals.

He resides in San Luis Obispo, California, and he has two daughters, Kathryn and Anna. TEXAS MANAGERS & ASSOCIATES

Susan Crawford, CPA, CFO/Controller, joined Legend Communities in 2007. Susan oversees all aspects of finance, administration, analysis, and information technology. She has 30+ years of experience in the financial sector including more than 20 years in the real estate industry. Susan previously worked with both national and regional real estate development and land management companies in large Texas markets in and Austin, overseeing the financial aspects of new acquisition, development, construction and amenity operations.

Bill Hayes, Chief Operating Officer, joined Legend Communities in 2015. Bill oversees all aspects of residential and commercial acquisition, development and construction. He has over 20 years of experience in the real estate industry. Before joining Legend Communities, Bill was Division President of Scott Felder Homes, a regional homebuilding company, where he managed the startup of both the Austin and Divisions. Prior to that he was Vice President of Operations at Newmark Homes.

Jennifer Langlois, Personal Assistant to Haythem Dawlett and Commercial Property Manager, joined Legend Communities in 2009, bringing 20+ years of real estate industry experience to her position as personal assistant to Haythem Dawlett and property manager for the company’s commercial real estate properties. Prior to Legend Communities, she was a custom operations manager for Legacy International Resort Properties, and has also served as an executive assistant for Austin Premiere Properties and as a leasing consultant for Falconhead Apartments. TEXAS MANAGERS & ASSOCIATES (CONT’D)

Randy Hughes, Texas Regional Construction Manager, has overseen construction projects of Legend Communities since 1994. He is involved in all aspects of the planning, permitting, building and warranting of developments. Prior to joining the company, he worked for over two decades in management positions for other local builders and his own companies in Texas and Oregon. Hughes has completed hundreds of successful single- and multi-family residential and commercial projects.

Kristin Deloney, Senior Real Estate Manager, joined Legend Communities in 2008 with over 20 years of business and real estate industry experience in the Texas, California, Nevada and New Mexico markets. Kristin previously worked for Crescent Communities, where she was a senior community coordinator and worked on Crescent’s various Texas development projects. She also worked with SWD Communities, Lake Las Vegas and Deloney Newkirk Fine Art. Kristin oversees many aspects of Legend Communities’ various businesses, including HOA setup and administration for our communities, real estate contract negotiation and builder contract / closing administration.

Rhiannan Oxos, Project Controller, joined Legend Communities in 2013, with years of accounting experience in the architecture and commercial real estate fields. Rhiannan is involved with the Rough Hollow residential project in Lakeway and oversees the general accounting of Legend Communities. Prior to joining the Legend Communities team, she worked for Capital Commercial Investments as a Senior Accountant for more than five years overseeing the accounting of 10 properties. Rhiannan also spends time outside of the office volunteering for Faith In Action Caregivers that provides rides and chores around the homes for seniors that are able to live on their own but don’t have a means of transportation.

Jen Marek, Project Accountant, rejoined Legend Communities in 2019 with a strong background in small business administration and more than 20 years of bookkeeping experience. She specializes in real estate, property management and residential construction accounting. Jen works in the Austin office where she oversees general accounting for multiple entities.

Becky Hernandez, Accounting Assistant, joined the Legend Communities team in 2014. Becky handles office administrative and support duties for Legend Communities. She is responsible for accounts payable processing, entry and check runs for our Marina/ Yacht Club operations and assisting with our Commercial property management. She brings over five years’ experience in office management, with two of those years being in the Real Estate Industry.

Debbie McCoy, Accounts Payable Specialist, joined Legend Communities in 2018 as an Accounts Payable Specialist. She brings more than 30 years of experience in commercial construction and residential real estate accounting. Prior to joining Legend Communities, Debbie worked as an Accounts Payable Specialist for a Regional Insurance Company.

Rick Schmalz, Construction Manager, joined Legend Communities in 2009, bringing over 20 years of residential building experience in both single and multi-family construction. Rick works on various projects including Tuscan Village and Lake Ridge at Rough Hollow. He is responsible for all phases of construction from permitting, construction and the warranty process. Prior to joining the company, he worked for other local builders and also in the Chicago market. TEXAS MANAGERS & ASSOCIATES (CONT’D)

Mike Gabel, Development Project Manager, joined Legend Communities in 2018. He brings over a decade of civil engineering, general contracting and construction experience to the team. Mike is instrumental in the planning, execution and over-site of land planning and development construction. Mike also served as a Combat Medic in the US Army.

Jeff Smith, Project Manager, joined Legend Communities in 2015, as Project Manager for Tuscan Village and Lake Ridge at Rough Hollow. Jeff brings over 10 years of experience in residential and commercial project management, including custom homebuilding and construction management in the Central Texas area.

Melanie Music, Purchasing Manager, joined Legend Communities in 2018 as a Purchasing Manager. She brings more than 17 years of experience in all phases of residential and commercial construction in the Central Texas area. Melanie will be working on several projects related to Legend Communities, Inc. Cynthia Galloway, Purchasing Coordinator, joined Legend Communities in 2017 as a Purchasing Coordinator. She plays a vital role in pricing and acquiring materials and options for the residential communities in Lakeway and beyond. Cynthia brings a background that includes many years in the healthcare industry. During this period she cultivated the organizational skills necessary for purchasing in the construction field. She has been an integral part of an expanding and exciting team.

Anthony Calise, Construction Superintendent, joined Legend Communities in 2012 as a Construction Assistant. Now in 2018, he is a Construction Superintendent and is currently working on the Tuscan Village Condos as well as warranties. Anthony is a recent graduate from Concordia University Texas, where he earned a degree in Marketing.

Carlee Gonzalez, Contract Administrator, joined Legend Communities in 2019. Carlee works closely with customers, title officers, and our construction and sales teams to coordinate successful transactions from contract execution to closing. She brings over 5 years of experience in customer relations and corporate account management. Prior to joining the Legend Communities team, she worked as an Account Manager at Fishman Corporation. Dana Warren, Director of Marketing, has been involved with real estate marketing for over 25 years. He started with his own marketing firm and has managed the marketing for Centex’s central valley division in California for 17 years. Warren has been effective in creating and implementing marketing programs for masterplanned and other residential communities and coordinates with the sales department in planning product and pricing.

Denise Martin, Residential Sales Director, is a licensed real estate agent since with over 20 years of experience in California, specializing in new home sales. She oversees coordination of new home sales and market research, design of sales offices and collateral materials and management of all project on-site agents.

Paul Vuocolo, California Construction Manager, oversees the company’s California construction operations. He has been in construction since 1977 as a general contractor and superintendent. Vuocolo also has experience in off-site development and has supervised the construction of over 4,000 homes.

Carlo Alfano AIA, Director of Development, a licensed Architect in the State of California, has extensive experience in development and construction with companies including Prudential, D.K. Ludwig, American Hawaiian, Griffin Development Company and Wilma Pacific, a subsidiary of Wilma International. He has completed projects that total over 20,000 housing units and several hundred thousand square feet of commercial and industrial over his career. Alfano directs all engineering, architectural and field development in China. CURRENT TEXAS PROJECTS - RESIDENTIAL

Rough Hollow Lakeway, Lakeway, Texas - 1,787-acre lakefront community and yacht club featuring 2,140 home sites in the Texas Hill Country overlooking Lake Travis.

Lake Ridge at Rough Hollow, Lakeway, Texas - 43 unit paired home gated neighborhood adjoining the Rough Hollow Yacht Club.

Tuscan Village Lakeway, Lakeway, Texas - 42-acres age-restricted master-planned, resort-style community with upscale Villas, Townhomes and Condominiums. Selling from the $200's to the $700's.

Tuscan Village Horseshoe Bay, Horseshoe Bay Resort, Texas – 70 +/- acre proposed age-restricted master planned, resort-style community with upscale Villas, Townhomes and Condominiums. Selling from the $200's to $1 million.

SOFI South Austin, Texas - 3.82 acres proposed multi-family boutique-style apartments. Approximately 155 units

Harborwalk, Galveston, Texas – 550-acre master-planned gated community featuring 380 lots, with real estate offerings to include club villas, coastal cottages and a preferred custom homebuilder line-up. CURRENT TEXAS PROJECTS - COMMERCIAL

Rough Hollow Yacht Club, Lakeway, Texas – Exclusive 278-slip floating marina and ship store with upland club components such as a restaurant, swimming pool, fitness center and event pavilion.

Tuscan Village Office Plaza – Office Building site, appropriately entitled for up to 30,000 square feet of professional office space and parking at the heart of Lakeway and at the entrance of the Italian inspired, 55+ enclave neighborhood, Tuscan Village Lakeway.

Cove Harbor Yacht Club and Boathouse Resort, Rockport, Texas – State-of the- art 650-slip marina and drystack with access to the Intercostal Canal, Aransas Bay, Redfish Bay and the Gulf of Mexico.

Cove Harbor Event Center and RV Park, Rockport, Texas – COMING SOON

Cove Harbor Yacht Club and Boathouse Resort The Grant Building CURRENT CALIFORNIA PROJECTS - RESIDENTIAL

Vista Del Mar, Arroyo Grande, Calif. – 104-acre, 54-lot high end residential.

Rice Ranch, Santa Barbara, Calif. – The largest project ever entitled in Santa Barbara County (14-year process), with 725 approved homes spanning 580 acres, of which 350 will remain open space. Amenitized with a 27-acre regional park with hiking and biking trails, dog parks, viewing pavilions, baseball and soccer fields, and multiple play areas.

Woodlands Village, Nipomo, Calif. – The largest project in the Central Coast area, at $1+ billion with over 14 years to gain entitlement. Development features 1,320 homes and three championship golf courses under the Monarch Dunes name. Also includes 31,000 square-foot Monarch Club and Spa, 140,000 square feet of retail/commercial, 350,000 square feet of industrial and up to 500-room hotel. COMPLETED PROJECTS The following represents projects in which the principals have been involved with development, construction or remodel over the past 20 years.

360 Self Storage - 110,000 SF Class A state-of-the-art climate controlled facility with wine storage in Austin, Texas.

Spring Climatized Storage - 82,000 SF Class A climatized self-storage in , Texas.

Hill Country Climatized Storage - Cedar Park, Texas - 80,000 SF selfstorage and 10 ,000 SF retail. Lakeway, Texas - 90,000 SF self-storage and 10,000 SF retail. New Braunsfel, Texas - 82,000 SF self-storage. All facilities are Class A properties. CATP, Austin Texas - Residential and office project for non-profit organization.

Collinwood West, Austin, Texas - 45-acre single family and senior development.

Franklin Square, San Marcos, Texas - 45-acre, 165 home HUD development.

Hills of Texas, Hays Country, Texas - 34 custom-home development.

Meadowlark Estates, Port Neches, Texas - 107-unit mobile home park.

Meadows of Walnut Creek, Austin, Texas - 106-lot residential development.

Ranch at Cypress Creek, Cedar Park, Texas - 170-acre masterplanned community.

SCIP 2, Austin, Texas - 54-home development in conjunction with City of Austin.

St. John's Village, Austin, Texas - 156-unit multi-family development.

The Gardens of Decker Lake, Austin, Texas - 200-unit multi-family development. COMPLETED PROJECTS

The following represents projects in which the principals have been involved with development, construction or remodel over the past 10 years.

Blacklake Fairways, Nipomo, Calif. - 51-home golf course development.

Bradley Square, Santa Maria, Calif. - 747-lot master-planned residential community.

Chandler Ranch, Paso Robles, Calif. - 800-acre master planned residential community.

Monarch Grove, Los Osos, Calif. - 48-acre residential development.

Northgate, Westlake Village, Calif. - 100-unit condominiums.

Oak View Apartments, Westlake Village, Calif. - 175-unit apartments.

The Estates at Blacklake, Nipomo, Calif. - 80-home golf course development.

The Legends at Blacklake, Nipomo, Calif. - 57-home golf course development.

Village Green, Westlake Village, Calif. - 120-unit condominiums.

West Arms Apartments, Westlake Village, Calif. - 200-unit apartments.

Hill Country Climatized Storage, Lakeway, Texas Post Oak Center South- Austin, Texas For More Information, Please Contact:

WWW.LEGENDCOMMUNITIESINC.COM 2101 Lakeway Blvd., Ste 100 Austin, Texas 78734 PHONE: (512) 306-1444 FAX: (512) 306-1620 [email protected]