WATERFORD at LAKE TRAVIS Lago Vista, Texas • +/-123 Acres • Development Portfolio

waterfordatlaketravis.com WATERFORD AT LAKE TRAVIS Lago Vista, Texas • +/-123 acres • Development Portfolio

Presented by: John St. Clair 214.238.8003 | [email protected] Robert Grunnah, CCIM 214.238.8010 | [email protected] Michael Ytem 214.238.8020 | [email protected] 123 +/- AC IN LAGO VISTA (ETJ) • WATERFORD AT LAKE TRAVIS

First United Bank is proud to offer for purchase Waterford at Lake Travis, located in the very INTRODUCTION desirable area north of Point Venture in the ETJ of Lago Vista, Texas, which the former lender acquired through foreclosure. This pristine property, while having a volatile history, can now be acquired with its nearly completed advanced entitlements in place for the benefit of a new owner. The property contains approximately 123 acres of titled land with an additional 80 slip marina. The development has all utilities in place to service the completion of single family construction on the remaining lots and vacant land. Utilities are controlled by Travis County MUD 10. Originally a lakeside resort development with homes, condominiums, and golf courses, Lago Vista was incorporated in 1984. It is currently the largest town on the north shore of Lake Travis, with a population of just over 5,000. The community encompasses more than 15 miles of shoreline on Lake Travis in an area known for its scenic beauty. Rolling hills, steep canyons, reforestation of oak and cedar trees and access to Lake Travis draw tourists from throughout Texas. Lago Vista is also the gateway to the Balcones Canyonlands National Wildlife Refuge, which consists of 22 square miles dedicated to the protection of the endangered Golden-cheeked warbler and the Black- capped vireo. WATERFORD This offering pertains to the remaining four phases, Phase 2, 4A, 4B and 6. Collectively, Phase 4A and AT LAKE TRAVIS Phase 6 have a total of 49 developed available lots, ready for single family home construction. Phase DEVELOPMENT PORTFOLIO 2 and Phase 4B are larger tracts of vacant land that have yet to be developed. It is believed that all infrastructure, and entitlements are in place to complete the construction of ETJ Lago Vista, Texas homes on the remaining single family lots. Several homes have been completed and are occupied. Because of the bankruptcy and subsequent foreclosure, the current property owners association is non-functioning, managed by the seller and will need to be revitalized. Lewisville (9/4), Inc. currently possesses approximately 300 of the voting rights, while current owners equate to approximately 40 votes. Ownership of the Waterford Properties offers a unique opportunity to complete a pristine development that has taken years of effort to achieve. Possessing title to land along Lake Travis of this magnitude with the potential of MUD reimbursements and an operative marina is a rare opportunity. Additionally, to have a majority of the entitlements and available infrastructure in place is even more difficult to achieve. The seller, First United Bank anticipates a 60 to 90 day marketing period for this asset at which time they will call for offers choosing to negotiate with qualified purchasers only. Further, the sellers have elected not to set a minimum asking price, choosing instead to allow the market to determine its value. While all reasonable offers will be reviewed, the demonstrated seriousness of the buyer and financial capacity to perform will be important contributing factors. A War Room has been created housing pertinent due diligence material. Should you have further interest, please complete the attached NDA and return it to the broker via email.

PROPERTY OVERVIEW

• The subject’s developed lots are located within an established, partially sold development in PROPERTY DETAILS Lago Vista (ETJ), Texas. • The subject topography offers excellent hill country and Lake Travis views . LAND SIZE: ±123 Acres Total • The subject exhibits lots sizes and configurations which appear to be in the most demand CITY/COUNTY: Lago Vista (ETJ)/Travis within the submarket. • ZONING: Single Family The subject lots include access to all utilities including water and wastewater discharge. • The area of the subject provides for excellent recreational activities surrounding Lake Travis UTILITIES: Available and the Texas Hill Country for area residents. • The subject is located north of and immediately across Lake Travis from the very successful • Approximately 5 miles south of Lago Vista, TX Lakeway Development. • 49 lots ready for development • MUD reimbursements • Income producing 80-Slip Marina • Infrastructure has capacity to serve future • From Round Rock, TX take TX-45 to US 183 North. Take exit FM 1431 towards Cedar Park and development turn left, then left (south) on Lohman Ford Road for approximately 12 miles. • Cash flowing marina – 80 slips Phase 2 36.63 acres 0 lots

Phase 4A 28.82 acres 43 lots

The information contained herein has been Phase 4B 51.92 acres 0 lots accumulated from various sources deemed to be reliable. However, due to the project’s history, the seller and its representative make no representations or warranties to it accuracy or content. Verification of Phase 6 5.78 acres 6 lots all due diligence materials shall be the full responsibility of the purchasers, who will acquire the property “where is, as is”, and shall rely solely on their * Ancillary Land refers to tracts that are of little value and were investigation. Ancillary Land * not originally part of the planned development. They will be conveyed with the sale of this portfolio. Acreage to be verified. PHASE OVERVIEW

REMAINING HOMESITE AND VACANT LAND INVENTORY

VACANT LAND AVAILABLE LOTS Phase 2 Sec Lot # Blk View Address Acres 4 44 A Lake 300 Westwater Court 0.75 36.63 acres, unplatted 4 2 A HC 812 Bluffwater Way 0.55 4 45 A Lake 216 Westwater Court 0.68 4 3 A HC 808 Bluffwater Way 0.52 4 46 A WF 200 Westwater Court 1.12 4 4 A HC 804 Bluffwater Way 0.47 4 51 A Cove WF 0.96 Phase 4B 4 5 A HC 800 Bluffwater Way 0.47 4 52 A Cove WF 221 Westwater Court 0.78 51.92 acres 4 6 A HC 712 Bluffwater Way 0.47 4 53 A Cove WF 301 Westwater Court 0.79 42 Preliminary Platted 4 7 A HC 708 Bluffwater Way 0.47 4 54 A Cove WF 305 Westwater Court 0.75 Lots 4 8 A HC 704 Bluffwater Way 0.47 4 55 A Cove WF 18816 Silver Maple 0.82 4 9 A HC 700 Bluffwater Way 0.47 4 56 A Cove WF 18800 Silver Maple 0.79 4 15 A HC 605 Bluffwater Way 0.63 4 2 B HC 0.44 4 16 A HC 609 Bluffwater Way 0.63 4 3 B HC 0.46 4 17 A HC 613 Bluffwater Way 0.48 4 4 B HC 0.54 4 18 A HC 701 Bluffwater Way 0.62 4 5 B HC 0.61 4 19 A Lake 713 Bluffwater Way 0.64 4 6 B Lake 0.69 4 20 A Lake 18704 Sugar Maple 0.42 4 7 B Lake 0.92 4 21 A Lake 18700 Sugar Maple 0.42 4 8 B Lake 18509 Sugar Maple 1.24 4 23 A Lake 18500 Sugar Maple 1.55 4 9 B Lake 1.13 4 24 A Lake 18717 Sugar Maple 0.81 4 10 B Lake 1.18 4 25 A Lake 18801 Sugar Maple 0.74 TOTAL ACREAGE 28.82 4 26 A Lake 18817 Sugar Maple 0.26 4 27 A Lake 18901 Sugar Maple 0.51 Sec Lot # Blk View Address Acres 4 32 A Lake 19105 Sugar Maple 0.51 6 10 A Lake 18116 Cedar Sage Ct 0.73 4 35 A WF 19108 Sugar Maple sold 6 17 A Lake 18109 Cedar Sage Ct 1.01 4 36 A WF 19104 Sugar Maple 0.65 6 18 A Lake 18113 Cedar Sage Ct 1.02 4 38 A WF 19020 Sugar Maple 0.63 6 19 A Lake 18117 Cedar Sage Ct 0.99 4 40 A WF 19008 Sugar Maple 0.78 6 20 A Lake 18201 Cedar Sage Ct 1.04 4 41 A WF 19000 Sugar Maple sold 6 21 A Lake 18205 Cedar Sage Ct 0.99 4 42 A WF 18920 Sugar Maple 1.28 TOTAL ACREAGE 5.78

The information contained herein has been accumulated from various sources deemed to be reliable. However, due to the project’s history, the seller and its representative make no representations or warranties to it accuracy or content. Verification of all due diligence materials shall be the full responsibility of the purchasers, who will acquire the property “where is, as is”, and shall rely solely on their investigation. TRAVIS COUNTY MUD 10 TRAVIS COUNTY MUD 10 PHASE 2 PHASE 4A PHASE 4B PHASE 6 TOPO PROPERTY PHOTOS

Surrounding Development Surrounding Development not included in sale not included in sale PROPERTY PHOTOS CONFIDENTIALITY AGREEMENT Waterford at Lake Travis, Lago Vista, TX The undersigned recipient (the “Recipient”), has requested information (the “Evaluation Material”) from Younger Partners, LLC, in connection with Recipient’s consideration of a possible acquisition (an “Acquisition Transaction”) by Recipient for Waterford at Lake Travis, Lago Vista, TX (the “Real Property”). Recipient agrees to treat with the strictest confidence the Evaluation Material and any other information that Younger Partners, LLC, its agents or its representatives furnishes to Recipient or Recipient’s directors, officers, employees, agents, or advisors. The owner, First United Bank, reserves the right to negotiate with any other prospective purchaser of the Real Property at any time. Moreover, unless and until a definitive written agreement is entered into, to acquire the Real Property, First United Bank, its affiliates or Recipient will not be under any legal obligation of any kind whatsoever with respect to such an Acquisition Transaction except for the matters specifically agreed to in this Agreement. Upon written request, Recipient will promptly return to First United Bank the Evaluation Material and all documents and information furnished by Younger Partners, LLC . Recipient understands that, although Younger Partners, LLC and First United Bank have endeavored to include in the Evaluation Material information known to it which it believes to be relevant for the purpose of Recipient’s investigation, neither Younger Partners, LLC and First United Bank nor their agents or their representatives shall have any liability to Recipient or any of Recipient’s representatives resulting from the use of the Evaluation Material by Recipient or such representatives. Recipient agrees that if Recipient determines to engage in an Acquisition Transaction such determination will be based solely on the terms of such written agreement and on Recipient’s own investigation, analysis and assessment of the Real Property. Younger Partners, LLC and First United Bank make no representations or warrantees as to the accuracy of the information provided. With respect to an Acquisition Transaction of the Real Property by Recipient, Recipient is advised that Younger Partners, LLC is acting on its own behalf as its exclusive agent. Should Recipient elect to engage a broker other than a Younger Partners, LLC, broker (the “Co-operating Broker”) to represent Recipient, Recipient herby agrees that the Recipient will pay any fees earned by or owed to Co-operating Broker in connection with an Acquisition Transaction unless otherwise agreed in a separate agreement with Younger Partners, LLC. By executing this Agreement, Recipient agrees to indemnify and hold harmless Younger Partners, LLC and First United Bank , and their respective affiliates, agents, successors, and assigns, employees, officers, and directors against and from any loss, liability, or expense, including reasonable attorney’s fees, arising out of any claim or claims by the Co-operating Broker, finder, or anyone else for commissions, fees, or other compensation with respect to any acquisition of the Real Property by Recipient.

If Recipient agrees with the foregoing, please sign and return this Agreement, via facsimile, by fax to Michael Ytem at (214)-238-8020 with a facsimile copy to (214)-238-8028, or scan an email to Michael Ytem at [email protected] with a copy to [email protected]. This Agreement shall be construed according to the laws of the State of Texas.

Confirmed and agreed this ____ day of Confirmed and agreed this ____ day of ______, ______: ______, ______:

RECIPIENT: CO-OPERATING BROKER:

Company: ______Company: ______

Address: ______Address: ______

______

Signature: ______Signature: ______

Name: ______Name: ______

Title: ______Title: ______

Phone: ______Phone: ______

E-mail: ______E-mail: ______