Drifty Farms 9.9 Gross Acres City of Ontario, New Model Colony East

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Offering Memorandum Tom Dallape, CA DRE #0110084 Ronald C. Pietersma, CA DRE #0045897 Land Brokers Realty Advisors 18881 Von Karman Ave, Ste 150 Irvine, CA 961 T 949.55.

1 Drifty Farms 9.9 Gross Acres City of Ontario, New Model Colony East Bellegrave Ave SITE 15 Everton Grove Cleveland Square Leal Limonite Ave Sumner Ave Scholar Way Hamner Ave exclusive Offering Memorandum Tom Dallape, CA DRE # Ronald C. Pietersma, CA DRE # Land Brokers Realty Advisors Von Karman Ave, Ste 150 Irvine, CA 961 T F CA DRE # PIETERSMA & COMPANY P.O. Box 500 Chino, CA T F Disclaimer: information contained herein is provided from sources deemed reliable. does not guarantee the accuracy of any of the information herein. All information should be independently verified.

2 Land Brokers Realty Advisors Table of Contents 1 Executive Summary Property Overview 5 Area/Market Overview 1

Executive Summary 1 Transaction Narrative and Pietersma &, as exclusive agents to Drifty Farms, are offering the unique opportunity to acquire 9.

3 Executive Summary 1 Transaction Narrative and Pietersma &, as exclusive agents to Drifty Farms, are offering the unique opportunity to acquire 9.8 acres in the New Model Colony area of Ontario, San Bernardino County, CA. Future Lakes Specific Plan Easy future access to both New Model Colony and Eastvale One of the few remaining East New Model Colony Projects Birds eye aerial view of Drifty Farms Drifty Farms Ontario

4 Executive Summary 1 Offering Guidelines Seller Drifty Fams Letter of Intent Please submit a Letter of Intent ( LOI) outlining the terms and conditions under which Buyer proposes to acquire property. Proposed Deal Structure 45 Day Review 5% Purchase Price Release Applicable Close of Escrow Months from Review Approval Monthly Option Payments of $10,000 Key Offering Milestones Offer Due Date August 1, 01 Buyer Selection August 9, 01 End of Due Diligence September 16, 01 COE May 16, 015 Aug 01 SUN MON TUES WED THU FRI SAT Asking Price $1,900, Due Diligence Period Due Diligence Period shall commence upon buyer acceptance and delivery of all due diligence materials. Due Diligence Period shall be 60 days. SUN 1 8 Sept 01 MON TUES WED THU FRI SAT Deposits Initial Deposit of two percent (%) of the purchase price shall be made at the Opening of Escrow and shall remain refundable during the Due Diligence Period. A Second Deposit of three per- 9 0 cent (%) shall be placed into escrow prior to the expiration of the Due Diligence Period, increasing the deposit to a total of five per- Key Offering Milestone cent (5%) of the Purchase Price. Upon Buyer s approval of its Due Bank Observed Holiday Diligence, the five percent (5%) deposit shall be released to the Seller and shall be non-refundable except for Seller default. Escrow and Title Escrow shall be with First American Title Opening of Escrow Escrow shall open upon delivery to Escrow of (i) the mutually executed Purchase & Sale Agreement and (ii) the Initial Deposit equal to two percent (%) of the purchase price. Brokerage Commission brokerage commission shall be paid by Seller pursuant to a separate agreement. Drifty Farms Ontario 4

Property Overview Site Detail Overview Drifty Farms is an approximately 9.

Location Drifty Farms is centrally located in the Inland Empire with excellent access to five major freeways (I-10, I-15, CA-60, CA-71 and CA-91).

site is located at the northeast corner of Bellegrave Avenue and Sumner Avenue. From Orange County: Take the 91 freeway east to I-15 North. Exit Limonite Avenue in Ontario.

5 Property Overview Site Detail Overview Drifty Farms is an approximately 9.9 acre parcel located on the northeast corner of Bellegrave Avenue and Sumner Avenue in the New Model Colony region of Ontario. Location Drifty Farms is centrally located in the Inland Empire with excellent access to five major freeways (I-10, I-15, CA-60, CA-71 and CA-91). From Los Angeles: Take the 60 freeway east to the I-15 South. Exit Limonite Avenue in Ontario. Turn right (west) on Limonite Ave. Turn right (west) on Sumner Avenue. site is located at the northeast corner of Bellegrave Avenue and Sumner Avenue. From Orange County: Take the 91 freeway east to I-15 North. Exit Limonite Avenue in Ontario. Turn left (west) on Limonite Ave. Turn right (west) on Sumner Avenue. site is located at the northeast corner of Bellegrave Avenue and Sumner Avenue. Municipality City of Ontario Lakes Specific Plan Drifty Farms is part of the proposed Lakes Specific Plan in the New Model Colony Assessor s Parcel Number Acres 9.9 Gross Acres 6.19 Net Usable Acres Improvement Status None Current Zoning site is zoned per the New Model Colony General Plan for.1-5 du/ac. Low Density Residential Schools Students residing in Drifty Farms will attend the following schools in the Mountain View Elementary Unified School District and Chaffey Joint Union High School District: Ranch View Elementary School 01 API: Old Archibald Ranch Ontario, CA Grace Yokely Middle School 01 API: S. Turner Avenue Ontario, CA Colony High School 01 API: E. Riverside Drive Ontario, CA 9176 Drifty Farms Ontario 5

6 Property Overview Site Detail Bid Date July 15, 01 Exclusive Brokers THE HOFFMAN COMPANY PIETERSMA & COMPANY Tom Dallape Ronald C. Pietersma t t tdallape@hoffmanland.com RCPietersma@aol.com CA DRE # CA DRE # Von Karman Avenue, Suite 150 P.O. Box 500 Irvine, CA 961 Chino, CA T F T F CA DRE Corp ID # Drifty Farms Ontario 6

7 Property Overview Vicinity Aerial SITE N Drifty Farms Ontario 7

8 Property Overview Close Up Aerial Bellegrave Ave Sumner Ave N Drifty Farms Ontario 8

9 Property Overview Net Usable Acres Map Drifty Farms Ontario 9

10 Property Overview Ontario Land Use Plan Drifty Farms Ontario 10

11 Property Overview Ontario Zoning Map Drifty Farms Ontario 11

12 Property Overview Assessor s Parcel Map Drifty Farms Ontario 1

13 Property Overview Property Photos View northeast from Sumner Ave and Bellegrave Ave Drifty Farms Ontario 1

14 Area/Market Overview Regional Map Subject Site Drifty Farms Ontario 14

Area/Market Overview Active & Future Remaining Lots City of Eastvale (as of June 01) ONTARIO SAN BERNARDINO COUNTY RIVERSIDE COUNTY

Harrison Ave EASTVALE Sumner Ave Citrus St 1 Cleveland Ave 5 Schleisman Rd Hamner Ave 15 4 N FOR SALE LOTS TOTAL # of Lots = 1,1

Richland / DR Horton Escrow 4 Lots 4. Stratham Communities Escrow 60 Lots 5. Van Daele/DR Horton Available 0 Lots 6.

15 Area/Market Overview Active & Future Remaining Lots City of Eastvale (as of June 01) ONTARIO SAN BERNARDINO COUNTY RIVERSIDE COUNTY Subject Site 1 Bellegrave Ave 4 Cloverdale Rd JURUPA VALLEY Limonite Rd 65th Street Hellman Ave Chandler St Archibald Ave 5 Harrison Ave EASTVALE Sumner Ave Citrus St 1 Cleveland Ave 5 Schleisman Rd Hamner Ave 15 4 N FOR SALE LOTS TOTAL # of Lots = 1,1 DAIRY OWNERS # of LOTS Remaining 1. Harada - Held for Investment 79 T-Map. Dyt Esrcow 117 T-Map. Richland / DR Horton Escrow 4 Lots 4. Stratham Communities Escrow 60 Lots 5. Van Daele/DR Horton Available 0 Lots 6. Flamingo Escrow 1 Lots PROJECTS WITH ACTIVE LOTS Project Name BUILDER # of LOTS Remaining 1. Enclave KB Home 80 Lots. Enclave KB Home 15 Lots. West Enclave KB Home 90 Lots BUILDER OWNED LOTS TOTAL # of Lots = 196 BUILDER # of LOTS Remaining 1. Lennar 196 Lots TOTAL # of Lots = 50 Project Name BUILDER # of LOTS Remaining 4. River Road Meritage Homes 40 Lots 5. DR Horton 70 Lots 6. Beazer 55 Lots Drifty Farms Ontario 15

Area/Market Overview Area Schools Exhibit Mountain View School District (909) 947-05 Riverside Dr 60 1 Ranch View Elementary School 01 API:

Turner Avenue Ontario, CA 91709 Edison Ave Archibald Ave Sumner Ave Haven Ave Milliken Ave Eucalyptus Ave Bellegrave Ave 15 Cantu-Galleano

16 Area/Market Overview Area Schools Exhibit Mountain View School District (909) Riverside Dr 60 1 Ranch View Elementary School 01 API: Old Archibald Ranch Ontario, CA Chino Ave 1 Grace Yokely Middle School 01 API: S. Turner Avenue Ontario, CA Edison Ave Archibald Ave Sumner Ave Haven Ave Milliken Ave Eucalyptus Ave Bellegrave Ave 15 Cantu-Galleano Ranch Wineville Ave Chaffey Joint Union High School District (909) Colony High School 01 API: E. Riverside Drive Ontario, CA 9176 Subject Site Drifty Farms Ontario 16

17 Area/Market Overview Ontario Market Trends Homes for Sale May 1 vs. Prev. Month vs. Prev. Year Ontario Homes on the Market # Homes for Sale % 67.5% Median List Price $00K 6.0% 7.6% Median List $/SqFt. $04.5% 8.% Homes Sold May 1 vs. Prev. Month vs. Prev. Year # Homes Sold % 7.5% Median Sold Price $60K.5% 0.9% Median Sold $/SqFt. $ % 4% % Sale to List 101% 0.8%.4% Ontario Listing Price Per Square Foot Ontario Sold Price Per Square Foot Data as of 06/10/1 Source: Redfin Drifty Farms Ontario 17

18 Area/Market Overview Eastvale Market Trends Homes for Sale May 1 vs. Prev. Month vs. Prev. Year Eastvale Homes on the Market # Homes for Sale 65 14% 61.5% Median List Price $465K.%.8% Median List $/SqFt. $ % 4.% Homes Sold May 1 vs. Prev. Month vs. Prev. Year # Homes Sold % 48.% Median Sold Price $410K 1.5% 17.% Median Sold $/SqFt. $14.1% 19.% % Sale to List 10.9% 0.%.1% Eastvale Listing Price Per Square Foot Eastvale Sold Price Per Square Foot Data as of 06/10/1 Source: Redfin Drifty Farms Ontario 18

19 Area/Market Overview Corona Market Trends Homes for Sale May 1 vs. Prev. Month vs. Prev. Year Corona Homes on the Market # Homes for Sale % 6.5% Median List Price $40K 8.9% 44.9% Median List $/SqFt. $ %.% Homes Sold May 1 vs. Prev. Month vs. Prev. Year # Homes Sold 195.0% 1.0% Median Sold Price $6K 0.0% 17.% Median Sold $/SqFt. $ % 4.% % Sale to List 10.4% 1.5%.9% Corona Listing Price Per Square Foot Corona Sold Price Per Square Foot Data as of 06/10/1 Source: Redfin Drifty Farms Ontario 19

20 Area/Market Overview Chino Market Trends Homes for Sale May 1 vs. Prev. Month vs. Prev. Year Chino Homes on the Market # Homes for Sale % 61.5% Median List Price $90K 5.7%.% Median List $/SqFt. $15 8.6%.5% Homes Sold May 1 vs. Prev. Month vs. Prev. Year # Homes Sold % 8.% Median Sold Price $75K 11.9% 6.4% Median Sold $/SqFt. $189.6% 1.% % Sale to List 101.6% 1.% 1.9% Chino Listing Price Per Square Foot Chino Sold Price Per Square Foot Data as of 06/10/1 Source: Redfin Drifty Farms Ontario 0

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