FOR the ESTATES at CIMARRON LAKE, TRACT 4200 Aka CIMARRON LAKE

SUBDIVISION DISCLOSURE REPORT (PUBLIC REPORT)

FOR THE ESTATES AT CIMARRON LAKE, TRACT 4200 Aka CIMARRON LAKE

Registration No. DM14-057053

SUBDIVIDER Cimarron Valley, LLC P.O. Box 8411 Fort Mohave, Arizona 86427

Effective Date March 31, 2014

PROPERTY REPORT DISCLAIMER

This report is NOT A RECOMMENDATION OR AN ENDORSEMENT by the State of Arizona of this land but is provided for informational purposes ONLY. The report reflects information provided by the subdivider and obtained by the Department in its review process in accordance with the provisions of Title 32, Chapter 20, Article 4, of the Arizona Revised Statutes, as amended. NOTE that not all of the information in this report has been verified by the Department; certain information has been accepted by the Department as true and accurate based on attestation of the subdivider and/or the subdivider’s agents. You should verify all facts before signing any documents. The Department has not passed upon the quality or quantity of any improvement or structure and does not assume responsibility in either event .

STATE OF ARIZONA DEPARTMENT OF REAL ESTATE

2910 N. 44 th Street Suite 130 Phoenix, Arizona 85018 (602) 771-7750

FORM P2 1/22/2009 1

Contents GENERAL ...... 4 SUBDIVISION LOCATION ...... 4 UTILITIES ...... 4 STREETS, ROADS AND DRAINAGE ...... 5 LOCAL SERVICES AND FACILITIES ...... 6 COMMON, COMMUNITY AND RECREATIONAL FACILITIES ...... 6 ASSURANCES FOR COMPLETION OF IMPROVMENTS ...... 7 PROPERTY OWNERS ASSOCIATIONS ...... 7 SUBDIVISION CHARACTERISTICS ...... 7 SUBDIVISION USE AND RESTRICTIONS ...... 9 AIRPORTS ...... 9 TITLE ...... 9 METHOD OF SALE OR LEASE ...... 10 TAXES AND ASSESSMENTS ...... 10

FORM P2 1/22/2009 2

THE ARIZONA DEPARTMENT OF REAL ESTATE

REQUIRES THAT:

1. You BE GIVEN this public report;

2. YOU SIGN A RECEIPT indicating that you received this report;

RECOMMENDS:

1. You DO NOT SIGN ANY AGREEMENT before you have read this report;

2. You see the EXACT PROPERTY you are interested in BEFORE SIGNING any document for lease or purchase.

ARIZONA LAW STATES:

1. THE SALE OR LEASE OF SUBDIVIDED LANDS PRIOR TO ISSUANCE OF THIS REPORT OR FAILURE TO DELIVER THIS REPORT TO YOU SHALL RENDER THE SALE OR LEASE RESCINDABLE BY YOU. ACTION TO RESCIND MUST BE BROUGHT WITHIN 3 YEARS FROM DATE OF EXECUTION OF PURCHASE AGREEMENT.

2. CONTRACTS OR AGREEMENTS FOR THE PURCHASE OF AN UNIMPROVED LOT (WITHOUT A BUILDING)* MAY BE RESCINDED BY YOU WITHOUT CAUSE BY SENDING OR DELIVERING WRITTEN NOTICE OF RESCISSION BY MIDNIGHT OF THE SEVENTH CALENDAR DAY FOLLOWING THE SIGNING.

3. IF YOU HAVE SIGNED A PURCHASE AGREEMENT FOR THE PURCHASE OF AN UNIMPROVED LOT (WITHOUT A BUILDING)* PRIOR TO INSPECTING THE LOT, YOU HAVE SIX MONTHS TO INSPECT AND UPON INSPECTION MAY RESCIND THE PURCHASE AGREEMENT.

*A contract or agreement for purchase of a lot which includes a building or obligates the seller to complete construction of a building within two years from the contract date does not constitute the purchase of an unimproved lot. Therefore, if your purchase includes a lot and a building or a building to be built, you are not entitled to the rescission rights described in paragraphs 2 and 3.

FORM P2 1/22/2009 3 LICENSE NO. DM14-057053 The Estates at Cimarron Lake, Tract 4200

GENERAL

This report includes: Lots 1 through 57 inclusive

The map of this subdivision is recorded October 14, 2011 at Fee No. 2011052527 records of Mohave County, Arizona.

The subdivision is approximately 15.68 acres in size. It has been divided into 57 Lots and Parcel A. Lot boundaries will be staked at lot corners and radii.

YOU ARE ADVISED TO OBTAIN A COPY OF THE RECORDED MAP AND CORRECTION DOCUMENTS, IF ANY, AND NOTE ALL EASEMENTS, RESTRICTIONS AND STATEMENTS CONTAINED THEREIN.

SUBDIVISION LOCATION

Location : This subdivision is located at the corner of Winter Haven Dr. and Cimarron Blvd. in Mohave Valley, Mohave County, Arizona

UTILITIES

Electricity : Mohave Electric Cooperative, Inc. (928) 763-4115 (www.mohaveaz.com). Facilities are complete to the lot line. Purchasers will be required to pay approximately $12.00 per lineal foot trenching and backfill to extend the facilities to the dwelling plus a $25.00 service establishment fee. A $350.00 deposit or letter of credit may be required and a $5.00 membership fee.

Telephone : Frontier Communications (800) 584-3384 (www.frontieronline.com). Facilities are complete to the lot line. Purchasers will be required to pay approximately $12.00 per lineal foot trenching and backfill to extend the facilities to the dwelling plus $60.00 service establishment fee.

Cable: Suddenlink (877) 694-9474 (www.suddenlink.com). Facilities are complete to the lot line. Purchasers will be required to pay approximately $12.00 per lineal foot trenching and backfill to extend the facilities to the dwelling plus $38.30 to $45.99 plus tax service establishment fee and $9.95 per outlet installation fee.

Internet or Fiber Optic: Frontier Communications (800) 584-3384 (www.frontieronline.com). Facilities are complete to the lot line. Purchasers will be required to pay approximately $12.00 per lineal foot trenching and backfill to extend the facilities (included in telephone trench) to the dwelling plus $49.99 service establishment fee.

Natural Gas : Natural gas is not available to this subdivision. FORM P2 1/22/2009 4 LICENSE NO. DM14-057053 The Estates at Cimarron Lake, Tract 4200

Water : Willow Valley Water Co. (928) 768-4413 (www.gwresources.com). Facilities are complete to the lot line. Purchasers will be required to pay approximately $15.00 per lineal foot trenching, line, and backfill to extend the facilities to the dwelling plus $65.00 water meter fee, $35.00 establishment fee and building permit fee plus a $65.00 refundable deposit is required.

Sewage Disposal : Fort Mohave Tribal Utilities Authority (928) 768-2200. Facilities are complete to the lot line. Purchasers will be required to pay approximately $500.00 to extend the facilities to the dwelling plus $3,500.00 sewer tap fee, $25.00 connection fee plus a $100.00 deposit.

Garbage Services : Allied Waste (928) 758-0000, billed quarterly $52.00; Hargus Disposal, billed 2 months $28.00

PURCHASERS ARE ADVISED TO CONTACT THE ABOVE LISTED PROVIDERS REGARDING EXTENSION RULES, REGULATIONS, SERVICE CONNECTIONS, INSTALLATION CHARGES, ACCOUNT SET-UP FEES AND THE COSTS INVOLVED. COSTS ARE SUBJECT TO CHANGE BY THE SERVICE PROVIDERS.

STREETS, ROADS AND DRAINAGE

Access to the Subdivision : Asphalt paved public streets are installed and complete. Maintenance provided by Mohave County. Purchasers cost is included in property taxes.

Access within the Subdivision : Asphalt paved public streets are installed and complete. Maintenance provided by Mohave County. Purchasers cost is included in property taxes.

Flood and Drainage : Flood and Drainage facilities are not installed to this subdivision.

Arizona State Trust Land: The Arizona State Land Department administers over 9.3 million acres of State Trust Land. This is not public land. Trust land may be subject to future development and may not be preserved or saved for open space without compensation.

A person must have prior approval to use State Trust Land. Temporary recreational use is allowed with certain restrictions and conditions through purchase of a recreational permit. Use of State Trust Land without proper approval is a trespass.

MANY ROADS ON RURAL TRUST LANDS ARE NOT LEGAL TRAVEL ROUTES, EXCEPT FOR STATE LESSEES AND HUNTERS, AND DO NOT PROVIDE LEGAL ACCESS TO PRIVATE LAND. STATE TRUST LAND MAY BE SOLD OR LEASED FOR USES WHICH MAY EXCLUDE RECREATION. RECREATION IS A TEMPORARY USE THAT MAY BE TERMINATED AT ANY TIME. For additional information, visit the State Land Department web page at www.land.state.az.us, or call (602) 542-4631.

FORM P2 1/22/2009 5 LICENSE NO. DM14-057053 The Estates at Cimarron Lake, Tract 4200

LOCAL SERVICES AND FACILITIES

Schools : Mohave Valley Elementary School, 1419 Willow Drive, 1 1/2 miles, Mohave Valley Junior High School 6565 Girard Ave., 1 1/2 Mile., River Valley High School 2250 Laguna Rd., 4 Miles South .

School bus service is available to Junior High School and High School

PURCHASERS ARE ADVISED THAT SCHOOL BOUNDARIES AND SCHOOL BUS TRANSPORTATION MAY CHANGE. YOU SHOULD CONTACT THE MOHAVE VALLEY ELEMENTARY SCHOOL DISTRICT AT 928-768-2211 AND COLORADO RIVER UNION HIGH SCHOOL DISTRICT AT 928-768-1665 REGARDING THE CURRENT LOCATION OF SCHOOLS AND BUS SERVICE.

Shopping Facilities : Safeway shopping center at the corner of Highway 95 and Aztec Road approximately 3 miles. Smith Food & Drug store 4823 Hwy 95, Ft. Mohave, approx. 3 mi., Maverick Country Store 4495 Hwy 95, Ft. Mohave, approx. 6 1/2 mi.

Public Transportation : Public transporation is not available to this subdivision.

Medical Facilities : Valley View Medical Center, 5300 Highway 95, Fort Mohave, Approximately 3.5 miles North, Valley View Hospital 5330 S. Hwy 95, St. Mohave, Approx. 5 1/2 miles. North

Fire Protection : Mohave Valley Fire Department.

Ambulance Service : Ambulance Service is available by dialing 911.

Police Services : Mohave County Sheriff's Department

LOCATIONS AND COSTS OF THE ABOVE SERVICES AND FACILITIES MAY CHANGE. YOU SHOULD VERIFY THEIR CURRENT LOCATIONS AND COSTS PRIOR TO PURCHASE.

COMMON, COMMUNITY AND RECREATIONAL FACILITIES

Within the Subdivision : Picnic area; Lake for fishing;

Within The Willow Valley Club Association : Marina with access to Colorado River, Clubhouse.

FORM P2 1/22/2009 6 LICENSE NO. DM14-057053 The Estates at Cimarron Lake, Tract 4200

ASSURANCES FOR MAINTENANCE OF IMPROVMENTS

Assurances for Maintenance of Subdivision Facilities : Utility companies responsible for their respective facilities, recorded Declaration Restrictions and Homeowner’s Association Articles of Incorporation and By Laws for the Common Area Facilities

PROPERTY OWNERS ASSOCIATIONS

Name and Assessments : Lake Cimarron Property Owners Association. Homeowners association assessments are $115.00 payable quarterly.

The Willow Valley Club Association, assessments are $74.07 payable annually.

Control of Association : Control of the Association will be turned over to the property owners upon occurrence of the earlier of:

(a) when the total votes outstanding in the Class A membership equal the votes outstanding in the Class B membership; (b) on December 31, 2022; or (c) when, in its discretion, the Class B Member so determines

Title to Common Areas : Title to the Common Area will be conveyed to the Association prior to the conveyance of the last lot.

Membership : All Homeowners will be members of both Associations.

PAYMENTS TO PROPERTY OWNERS ASSOCIATIONS ARE SUBJECT TO CHANGE IN ACCORDANCE WITH RECORDED RESTRICTIONS. SAID ASSOCIATION MAY ALSO IMPOSE SPECIAL ASSESSMENTS.

SUBDIVISION CHARACTERISTICS

Topography : Level desert land

Flooding and Drainage: Subdivider advises the property is not subject to flooding or drainage issues.

FORM P2 1/22/2009 7 LICENSE NO. DM14-057053 The Estates at Cimarron Lake, Tract 4200

R. Larry Morse, P.E., R.L.S. of ARQ Engineering LLC in his letter dated September 18, 2012 that:

"The above referenced project is entirely within a Zone "X" Flood Hazard Zone pursuant to FEMA FIRM Community Panel Number is Mohave County 040058, Firm Map Panel Number is 04015C-5075G effective November 18, 2009.

The Zone "X" is describes as follows: "Areas of 0.2% annual chance flood; areas if 1% annual chance flood with average depths of less than 1 foot or with drainage areas less than 1 square mile; and areas protected by levees from 1% annual chance flood."

Pursuant to FEMA Zone "X" is not a Flood Zone and does not require Flood Insurance. The Estates at Cimarron Lake, Tract 4200 is located in Zone "X"."

Soils: Subdivider advises the subdivision is not subject to subsidence or expansive soils.

R. Larry Morse, P.E., R.L.S., of ARQ Engineering LLC in his letter dated April 27, 2010 that:

"The grading work performed to prepare the Building Pads and Roads have reduced the potential of significant subsidence.

The site consisting of silty sands and no expansion soils were encountered.

If there should be any questions regarding the above mentioned matter, please do not hesitate to contact our office."

Adjacent Lands and Vicinity:

A-R Agricultural Residential R-O Single Family Residential Houses Only (not vested) R-O Single Family Residential Houses Only 6,000 sq ft Single Family Residential Houses Only 6,000 sq ft R-O Single Family Residential Houses Only 6,000 sq ft R-O/6m Single Family Residential Houses Only 6,000 sq ft R-O Single Family Residential Houses Only

PROPOSED OR EXISTING LAND USES WITHIN 2 MILES NORTH: Courtney Park Apartments, approx 6 miles north Los Lagos Golf Club, 4.89 miles north Mohave Industrial Park, approx 4 miles north Moon River RV Resort, approx 2 1/2 miles north Snowbird RV Resort, approx 5 1/2 miles north Valley View Hospital, approx 5.48 miles north SOUTH; Mohave Valley Library, approx 1.34 miles south Lilyhill Apts, approx 7 miles south

THIS SUBDIVISION IS LOCATED WITHIN FIVE MILES OF AN AMERICAN INDIAN RESERVATION. ACTIVITIES ON THE RESERVATION INCLUDE OR MAY INCLUDE OPEN RANGE, AGRICULTURAL OPERATIONS, AIRCRAFT OPERATIONS,INDUSTRIAL OPERATIONS AND DAIRY FARMS. A RESERVATION HAS ITS OWN LAWS GOVERNING THE LAND WITHIN ITS BOUNDARIES. THESE MAY INCLUDE TRESPASSING, DUMPING, FORM P2 1/22/2009 8 LICENSE NO. DM14-057053 The Estates at Cimarron Lake, Tract 4200

ARCHAEOLOGY, HUNTING, FISHING, ETC. IN ADDITION, CERTAIN AREAS OF THE RESERVATION MAY BE NONPUBLIC-CLOSED AREAS WHICH REQUIRE SPECIAL PERMISSION TO ENTER. THOROUGHFARES AND ROADS ON THE RESERVATION MAY NOT BE AVAILABLE FOR PUBLIC USE.

Fort Mohave Indian Community Gary Goforth, Community Development 500 Merriman Avenue Needles, California 92363 (760) 629-4591 Phone (760) 629-5767 FAX

Transwestern pipeline (gas line) runs along back of lots located on Desert Bloom Drive

SUBDIVISION USE AND RESTRICTIONS

Use : This offering is for unimproved vacant lot Zoning: Single Family Residential

Conditions, Reservations and Restrictions : Recorded Declaration of Restrictions, Homeowners Association Articles of Incorporation and By-Laws, Architectural Control Guidelines, and existing zoning

Restrictions and Other Matters of Record: Conditions, reservations and restrictions that may run with the land including City or County zoning restrictions should be investigated by you. Copies of those items which are recorded may be inspected at the Office of the Mohave County Recorder. Information about zoning may be obtained at the Office of the Mohave County Planning and Zoning Department. Restrictions are recorded as cited in the following title exceptions and per the subdivision plat.

AIRPORTS

Airport: Laughlin Bullhead City Airport, 2550 Laughlin View Drive, #117, Bullhead City, Arizona 86442 Approximately 16 miles North. Sun Valley Airport is 5 miles North.

TITLE

Title to this subdivision is vested in Cimarron Valley, LLC

Subdivider’s interest in this subdivision is evidenced by Fee Title FORM P2 1/22/2009 9 LICENSE NO. DM14-057053 The Estates at Cimarron Lake, Tract 4200

Title is subject , among other things, to all taxes, assessments, covenants, conditions, restrictions, limitations, reservations, rights, obligations, powers, easements, rights of way, liens, and charges of record. YOU SHOULD INVESTIGATE THE TITLE AND SATISFY YOURSELF AS TO WHAT EFFECT, IF ANY, THESE MATTERS MAY HAVE ON THE USE OF THE LAND . Title exceptions affecting the condition of title are listed in the Preliminary Title Report dated February 19, 2014 issued by Chicago Title Insurance Company. You should obtain a title report and determine the effect of the listed exceptions .

EXCEPTIONS: SEE EXHIBIT “A” ATTACHED

METHOD OF SALE OR LEASE

Sales : Sales will be made using Purchase Contract, Escrow Instructions, Deed, Note and Deed of Trust

Release of Liens and Encumbrances : Arrangements have been made for individual lot release provisions contained within the loan documents

Use and Occupancy : When will purchasers be able to use and occupy their lot/unit. Lot purchasers will be able to occupy their lots upon close of escrow and recordation of the deed.

THE PURCHASE CONTRACT IS A BINDING AGREEMENT. CONTRARY TO THE TERMS AND PROVISIONS OF THE CONTRACT, YOU MAY HAVE ADDITIONAL RIGHTS, REMEDIES AND WARRANTIES PROVIDED BY LAW. READ THOROUGHLY BEFORE SIGNING. IF NOT UNDERSTOOD, SEEK COMPETENT ADVICE PRIOR TO COMMITMENT TO PURCHASE.

TAXES AND ASSESSMENTS

Real Property Taxes : The combined primary and secondary property tax rate for this subdivision for the year 2012 is 12.17 per $100.00 assessed valuation. The estimated property tax for an unimproved lot (vacant), based on the above tax rate and average sales price of $30,000.00, is $584.00.

AMOUNT OF TAXES AND ASSESSMENTS SET FORTH ABOVE ARE APPROXIMATE ONLY AND SUBJECT TO CHANGE.

YOU ARE ADVISED TO READ THE RECORDED DECLARATION OF (COVENANTS, CONDITIONS AND RESTRICTIONS), ARTICLES OF INCORPORATION, DECLARATION OF CONDOMINIUM, BYLAWS FOR THIS SUBDIVISION TO DETERMINE THE RIGHTS OF LOT/UNIT OWNERS TO PARTICIPATE IN THE FORM P2 1/22/2009 10 LICENSE NO. DM14-057053 The Estates at Cimarron Lake, Tract 4200

CONTROL OF THE PROPERTY OWNERS’ ASSOCIATION AND TO DETERMINE THE RIGHTS, DUTIES AND LIMITATIONS OF OWNERS IN AND TO USE OF THEIR LOT/UNITS. FURTHER, YOU SHOULD DETERMINE FOR YOURSELF IF SUBDIVIDER’S ARRANGEMENTS AND PLANS FOR THE PAYMENT OF ASSESSMENTS ON UNSOLD LOTS/UNITS WILL BE SUFFICIENT TO FULFILL THE NEEDS, DEMANDS AND FINANCIAL OBLIGATIONS OF THE ASSOCIATION, AS SET FORTH IN THE DECLARATION AND BYLAWS .

FORM P2 1/22/2009 11 LICENSE NO. DM14-057053 The Estates at Cimarron Lake, Tract 4200

EXHIBIT “A”

1. Unpatented mining claims; water rights, claims or title to water; reservations or exceptions in patents or in acts authorizing the issuance thereof, including but no limited to those shown in the Patent to said land, whether or not of public record.

2. Taxes for the year 2013 are paid in full on all parcels, under Assessors Tax Parcel No. 225- 79-001 through 225-79-058, inclusive.

3. The liabilities and obligations against said land by reason of its inclusion within the boundaries of the following districts.: MOHAVE VALLEY ELEMENTARY SCHOOL DISTRICT, COLORADO RIVER UNION HIGH SCHOOL DISTRICT, MOHAVE VALLEY FIRE COMPANY DISTRICT and MOHAVE VALLEY IRRIGATION AND DRAINAGE DISTRICT.

4. All matters set forth in Covenants, Conditions and Restrictions in the Declaration of Restrictions, but omitting any covenants or restrictions, if any, including, but not limited to those based upon race, color, religion, sex, sexual orientation, handicap, familial status, marital status, disability, ancestry, source of income, or national origin, as set forth in applicable state or federal laws, except to the extent that said covenant or restriction is permitted by applicable laws, as contained in instruments recorded in Book 3874 of Official Records, page 626, and in Book 5984 of Official Records, page 519, and at Fee No. 2013050057.

5. Any Assessments or Charges upon said land, or owner thereof, by reason of its inclusion or membership in LAKE CIMARRON PROPERTY OWNERS ASSOCIATION.

6. Any Assessments or Charges upon said land, or owner thereof, by reason of its inclusion or membership in WILLOW VALLEY CLUB ASSOCIATION.

7. Easement and rights incident thereto for pipeline, as set forth in instrument recorded in Book 27 of Dockets, page 98.

8. The community property rights of the spouse of Angelo Rinaldi, as of May 25, 2005, due to Warranty Deed recorded in Book 5632 of Official Records, page 91.

9 The effect, if any, of Resolution No. 2006-415 recorded July 11, 2006, in Book 6354 of Official Records, Page 600.

10. The effect, if any, of Resolution No. 2013-010 recorded February 15, 2013, at Fee No. 2013008419.

11. Easements, set-backs, reservations and restrictions, as shown on the recorded plat of said subdivision, recorded October 14, 2011 at Fee No. 2011052527.

NOTE: No further matters affecting the subject property appear of record in the indices of Mohave County through the date of this report.

FORM P2 1/22/2009 12