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HomeMy WebLinkAboutProperty - Acquisitions - 902 Land Acquisition - Park & Ride Facility - Rancho Vistoso Neighborhood 2, Parcel B (includes appr Perez, Patricia From: Rodriguez, Jose Sent: Tuesday, September 12, 2017 8:40 AM To: Perez, Patricia Cc: Scott, Jill Subject: RE: Fully Executed Agreement Park & Ride Facility / #1* Expires: Monday, December 11, 2017 12:00 AM No0 Lv)- 1 / ') Patti, #1)/ y� Yes, I have a copy of the document. We'll have it scanned and forward to you . / ) /1141 Jose N.Rodriguez,P.E. Engineering Division Manager Community Development and Public Works Town of Oro Valley (520)229-4872 From: Perez, Patricia Sent:Tuesday, September 12, 2017 8:23 AM To: Rodriguez,Jose<jrodriguez@orovalleyaz.gov> Cc:Scott,Jill <jscott@orovalleyaz.gov> Subject: Fully Executed Agreement Park& Ride Facility Jose— you couldplease check your files if you have a fully executed agreement for the Park& Ride Facility, Wondering if g Rancho Vistoso Neighborhood 2, Parcel B. We need a copy for our files, please. This goes back to 2008 on TOV Resolution 08-42. Thanks, Patti Perez Senior Office Specialist Town Clerk's Office Town of Oro Valley 11000 N. La Canada Dr. Oro Valley,AZ 85737 Phone: 520-229-4740 Fax: 520-297-0428 pperez@orovallevaz.gov 1 OPERATIONS AND MAINTENANCE MANUAL for Private Sanitary Sewer System to serve RANCHO VISTOSO BOULEVARD PARK AND RIDE FACILITY 2291 E. Rancho Vistoso Boulevard Oro Valley, AZ Prepared for: Oro Valley Public Works Department 11000 N La Canada Drive Oro Valley, AZ 85737 Prepared by: 111111 GIVIL 6530 N. Camino Padre Isidoro Tucson, Arizona 85718 (520) 797-0962 April 2009 Civil Design Group Project# 806.01 • SYSTEM OPERATION The new on-site private wastewater collection system consists of 37 L.F. of new 8" PVC sanitary sewer line designed to convey approximately 10,560 GPD from the adjacent vacant parcel (Parcel #223-02-017P), currently zoned C-1. Peak Wet Weather Flow (PWWF) calculations indicated that flow may be as much as 27,878 GPD. All sewer flow exiting the adjacent site post-development will be conveyed by gravity into the new manhole and 8" sewer line. The downstream connection point for the new sewer system is the existing public manhole #5734-1431 located at the entrance driveway to the Park and Ride Facility (Plan Number 1- 86-224). II. MAINTENANCE OF THE COLLECTION SYSTEM The Owner must provide proper equipment and competent sewer maintenance staff for operating and maintaining the collection system, preferably certified system operators. Of all public and private utilities, sewer systems are the most abused through misuse and mismanagement. Abuse of the system can result in extensive damage and compound problems of wastewater treatment. Therefore, the Owner must provide regularly scheduled inspections of the pipeline and manhole. At a minimum, all facilities should be inspected once a year. The system, if properly maintained, should have a life of a minimum of 50 years. Since this system is conveying wastewater from multiple facilities, there may be a need for regular cleaning. The need for pigging should occur if, during inspection, debris and/or gravel have entered the sewer system. The system should be inspected for the presence of debris, root intrusion, physical damage to the system, and surface and groundwater overload caused by cracked pipes, defective joints, faulty manholes/cleanouts, and/or submerged manhole/cleanout covers. III. SAFETY PROCEDURES All personnel working in and around wastewater collection systems must always be safety conscious. One must take extreme care with personal hygiene to prevent the spread of disease to oneself and others. Collection system operators may have to work in and near excavations, embankments, washouts, traffic, and other dangerous situations or equipment that can cause serious disability or injury. Confined spaces, such as manholes, could have harmful atmospheres that may contain toxic gases, explosive mixtures, and/or oxygen deficiencies. Special safety rules and regulations have been developed to protect the life and health of persons who must enter confined spaces. All collection system operators must be educated, and in some cases, certified on safety issues. The Contractor/Owner shall be responsible for assuring that no sanitary sewer overflows (SSO's) occur as a result of his construction activities. The Contractor/Owner shall immediately report any release of sewage, and/or damage to, or the dropping of debris into, the public sanitary sewage conveyance system to: During business hours: Pima County Regional Wastewater Reclamation.Department Field Engineering (520) 740-2651 -OR- Pima County Regional Wastewater Reclamation Department Field Operations (520) 326-4333 During off hours or holidays: Pima County Sheriff's Communications Center (520) 295-4595 -or- (520) 741-4900 Take immediate action to prevent or contain the sanitary sewage overflow (SSO)from the sewer system. The Contractor/Owner shall be responsible for all cost to repair the sewer system, for all expenses to mitigate the release and to disinfect the release area, and for regulatory penalties levied on the Contractor/Owner because the SSO entered a natural or constructed storm water drainage system. The Contractor/Owner shall repair all damage as directed and approved by Pima County Regional Wastewater Reclamation Department. A copy of this Operations and Maintenance Manual will be kept at the following location: Oro Valley Public Works Department 11000 N. La Canada Drive Oro Valley,Arizona r • • The following is a partial list of safety procedures that a collection system operator should be qualified to perform: 1) Perform duties of a collection system operator by following safe procedures. 2) Inspect safety features of vehicles and equipment 3) Drive vehicles defensively and safely 4) Route traffic around job site 5) Identify manhole/cleanout hazards 6) Assemble necessary equipment to safely enter manhole or inspect cleanouts 7) Calibrate and use gas detection equipment 8) Take necessary precautions prior to entering a manhole or inspecting cleanouts . • 9) Follow safe procedures during manhole entry, work, and exit 10) Avoid electrical hazards 11) Protect oneself from excessive noise 12) Extinguish fires 13) Interpret and comply with worker right-to-know laws C:\Documents and Settings\Civil Design Group\Town of Oro Valley\Park N Ride\Sewer\OM-Manual-SANITARY.doc . e s AFFIDAVIT I ei Ilk- h i (.____ ` LAII' 1,;: , hereby certify that I have in m ossession :a copy of the Operation and Maintenance manual, which has been Y P .` approved by the Pii is County Department of Environmental Quality, for the RANCHO VISTOSO BOULEVARD PARK AND RIDE FACILITY Private Sewer System I have read and completely understand the contents of this manual, including all operational requirements, all maintenance requirements, all monitoring requirements, all reporting requirements, and all costs which may be incurred because of these requirements. I will comply fully with all aspects of this manual. In the event that we sell, lease, or otherwise convey ownership of the collection system, I will notify the new owner of these responsibilities and the Arizona Department of Environmental Quality in writing within one week so that my responsibility can be released. d j iA4 IA. (iwner's Signatu - • This instrument was acknowledged before me this g (2,70j61-0'9 (Date, moilth, year) 1 ,,;; Juba Smiley �`-'' Nobly Public ns 1. /7 :(1,- c, ; - Pinta County A '♦ - ` My Commission Expires ‘j � August 15,2011 1 ct&( , f71-d 1 (Notary's Sig toe and Seal) a SEWEAGE COLLECTION SYSTEM OPERATION AND MAINTENANCE SIGNED CERTIFICATE IN ACCORDANCE WITH A.A.C. R18-9-E301(E)(3) I hereby certify that I have in my possession a copy of the Operation and Maintenance (O&M) manual, which addresses components of the operation and maintenance of the following sewage collection system: Priva+e SaniA-cir sewer sygtern Consisfin of one ncrhole. cnd 37 LF 0-f 8pipe. +o ser're ft O'Jcr'1 af1cl i S+oSo Ltd. Pcr4nchip per c.i /Rctnko Visioso B1id . park otnci. R;de a G 11 (Project Name) I certify that the O&M manual provides the 24-hour emergency contact number for the owner and or operator for the sewage collection system and confirms that the requirements of the Arizona Administrative Code Title 18, Chapter 9, Section E301.E.3.(a through d) have been met. The 24-hour emergency contact person is Oro VaUey M a i n{"e n a nc e tcd:.f and can be reached at ( 520) 94o - 3182 The O&M manual is available for inspection at Oro VaUey Public Works De f. 1100o N . . La Canad Driyc Oro Va1ey ) A 85737 (Facility Address) Crus9 C 'jaler PE . (Owners Name,Printed) 1 000 Ni. L.-Cl Ccoriadc, Dri'Je. (Owner's Street Address) CrQlj8573-7r (O��n•• City, St! Zip Code) / ' e, (Owner's Signature) PT)FO Appro'cti} tin Revised:Jun:2008 RESOLUTION NO. (R) 08- 42 A RESOLUTION OF THE MAYOR AND COUNCIL OF THE TOWN OF ORO VALLEY, ARIZONA, AUTHORIZING AND APPROVING A PURCHASE AGREEMENT BETWEEN OVERLAND VISTOSO LIMITED PARTNERSHIP, LLP AND THE TOWN OF ORO VALLEY FOR LAND ACQUISITION IN THE AMOUNT OF $702,663.00 FOR 1.6 ACRES LOCATED AT RANCHO VISTOSO NEIGHBORHOOD NO. 2 PARCEL B, UTILIZING REGIONAL TRANSPORTATION AUTHORITY (RTA) FUNDS FOR A PARK AND RIDE FACILITY WITHIN THE TOWN OF ORO VALLEY, IDENTIFIED IN THE REGIONAL TRANSPORTATION PLAN WHEREAS, the Town of Oro Valley is a political subdivision of the State of Arizona vested with all associated rights, privileges and benefits and is entitled to the immunities and exemptions granted municipalities and political subdivisions under the Constitution and laws of the State of Arizona and the United States; and WHEREAS, A.R.S. § 48-5301, et seq. authorizes the Regional Transportation Authority (RTA) to act as a regional taxing authority for the purpose of funding multi-model transportation operations and improvements identified in the Regional Transportation Plan ("the Plan") approved by the voters at the special election held in Pima County, Arizona on May 16, 2006; and WHEREAS, the RTA is authorized by A.R.S. § 48-5304(16) and § 48-5308 to administer and distribute regional transportation funds to the members of the RTA, and to sell bonds in furtherance of that purpose to fund those projects or programs identified in the Plan; and WHEREAS, the Park and Ride Facility is one of the transportation projects included in the Plan or is eligible for funding as part of a categorical program included in the Plan; and WHEREAS, the Town of Oro Valley has agreed to purchase from Overland Vistoso Limited Partnership, LLP, the property described in the Purchase Agreement, attached hereto as Attachment "1", utilizing RTA funds; and WHEREAS, it is in the best interest of the Town of Oro Valley to enter into the Purchase Agreement, attached hereto as Attachment "1", with Overland Vistoso Limited Partnership, LLP, in the amount of$702,663.00 for the acquisition of the land described in the Purchase Agreement for the development of the Park and Ride Facility. \\Legal\sharefiles\Public Works\TRANSIT\IGA's\RTA Park and Ride Funding\Resolution-RTA Park and Ride Land Purchase.doc Town of Oro Valley Attorney's Office/ca/051508 NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council of the Town of Oro Valley, Arizona that the Purchase Agreement, attached hereto as Attachment "1", by and between the Overland Vistoso Limited Partnership, LLP, and the Town of Oro Valley is hereby approved, and the Mayor is hereby authorized to take such steps as are necessary to execute the Purchase Agreement. NOW, BE IT FURTHER RESOLVED that the Town Engineer or his designee is hereby authorized to finalize the purchase of the property on behalf of the Town. PASSED AND ADOPTED by the Mayor and Town Council of the Town of Oro Valley, Arizona this 4th day of JUNE , 2008. TOWN OF ORO VALLEY Paul H. Loomis, Mayor ATTEST: APPROVED AS TO FORM: Ka yn E. Cuvelier, Town Clerk Tobin Rosen, Town Attorn Date. to - Date: cidor \\Lcgal\shareftles\Public Works\TRANSI7UGA's\RTA Park and Ride Funding\Resolution-RTA Park and Ride Land Purchase.doc Town of Oro Valley Attorneys Office/ca/051508 F. ANN RODRIGUEZ, RECORDER DOCKET: 13326 E RECORDED BY: MRB PAGE: 82 A DEPUTY RECORDER ti°yI itt NO. OF PAGES: 21 S 1562 PE2 ii/T; ; ) SE UENCE: 20081140047 T TLATI �, 06/12/2008 S MAGNUS TITLE �'. �' RE S 10:01 I 2525 E CAMELBACK RD STE 600 `9k1Z0��' D PHOENIX AZ 85016 MAIL E AMOUNT PAID $ 26.00 Magnus Title Agency Vicki Etherton 2525 E. Camelback Rd. Ste. 600 Phoenix, AZ 85016 DO NOT REMOVE THIS COVER SHEET. IT IS NOW PART OF THE RECORDED DOCUMENT. DOCUMENT TO BE RECORDED: RESOLUTION NO. (R) 08-42 ;fp �IIM �1Y�1 1�7A11' 1l�Ilm IIMNI 1E3 9 ID IF� IYIt 1 Itl it .Jd1 IHp YI reccvr r RESOLUTION NO. (R) 08- 42 A RESOLUTION OF THE MAYOR AND COUNCIL OF THE TOWN OF ORO VALLEY, ARIZONA, AUTHORIZING AND APPROVING A PURCHASE AGREEMENT BETWEEN OVERLAND VISTOSO LIMITED PARTNERSHIP, LLP AND THE TOWN OF ORO VALLEY FOR LAND ACQUISITION IN THE AMOUNT OF $702,663.00 FOR 1.6 ACRES LOCATED AT RANCHO VISTOSO NEIGHBORHOOD NO. 2 PARCEL B, UTILIZING REGIONAL TRANSPORTATION AUTHORITY (RTA) FUNDS FOR A PARK AND RIDE FACILITY WITHIN THE TOWN OF ORO VALLEY, IDENTIFIED IN THE REGIONAL TRANSPORTATION PLAN WHEREAS, the Town of Oro Valley is a political subdivision of the State of Arizona vested with all associated rights, privileges and benefits and is entitled to the immunities and exemptions granted municipalities and political subdivisions under the Constitution P and laws of the State of Arizona and the United States; and WHEREAS, A.R.S. § 48-5301, et seq. authorizes the Regional Transportation Authority (RTA) to act as a regional taxing authority for the purpose of funding multi-model transportation operations and improvements identified in the Regional Transportation p �p in Pima Count Plan ("the Plan ) approved by the voters at the special election heldy, Arizona on May 16, 2006; and WHEREAS, the RTA is authorized by A.R.S. § 48-5304(16) and § 48-5308 to administer and distribute regional transportation funds to the members of the RTA, and to sell bonds in furtherance of that purpose to fund those projects or programs identified in the Plan; and WHEREAS, the Park and Ride Facility is one of the transportation projects included in the Plan or is eligible for funding as part of a categorical program included in the Plan; and WHEREAS, the Town of Oro Valley has agreed to purchase from Overland Vistoso Limited Partnership, LLP, the property described in the Purchase Agreement, attached hereto as Attachment "1", utilizing RTA funds; and wy a•y, {INI WHEREAS, it is in the best interest of the Town of Oro Valley to enter into the Purchase �aF Agreement, attached hereto as Attachment "1", with Overland Vistoso Limited Partnership, LLP, in the amount of$702,663.00 for the acquisition of the land described in the Purchase Agreement for the development of the Park and Ride Facility. { \1Legatlsharcftics\Public Works\TRANSITIIGA's\RTA Part and Ride Funding\Rcsolution-RTA Park and Ride Land Purchase.doc Town of Oro Valley Attorney's Offrcc/ca/051508 RE BE IT RESOLVED by the Mayor and Council of the Town NOW, THEREFORE, « „ a that the Purchase A reement, attached hereto as Attachment "1", of Oro Valley, Arizona g by and between the Overland Vistoso Limited Partnership, LLP, and the Town of Oro Valley is hereby approved, and the Mayor is hereby authorized to take such steps as are necessary to execute the Purchase Agreement. NOW, BE IT FURTHER RESOLVED that the Town Engineer or his designee is to finalize the purchase of the property on behalf of the Town. hereby authorized the PASSED AND ADOPTED byMayor and Town Council of the Town of Oro Valley, y Arizona this 4th day of JUNE , 2008. TOWN OF ORO VALLEY Paul H. Loomis, Mayor ATTEST: APPROVED AS TO FORM: ti aL4A h '+ t� Ka yn E. Cuvelier, Town Clerk Tobin Rosen, Town Attorn // Date: -- �52 Date: c/dor l�o 11h !Inir !hr, 2 ,rw 119 ?h►Ip ucit rnu \\Lcgal\sharehies\Public Works\TRANSITUGA's\RTA Park and Ride Funding'Resolution-RTA Park and Ride Land Purchase doc Town of Oro Valley Anorney's OfTicdca/05 1508 ATTACHMENT 441 /, 041 II c; \\Legallsharefiles\Public Works\TRANSITIGA's\RTA Park and Ride Funding\Resolution-RTA Park and Ride Land Purchase.doc Town of Oro Valley Attorney's Office/ca/051508 PURCHASE AGREEMENT This Agreement is made by and between OVERLAND VISTOSO LIMITED PARTNERSHIP LLP, an Arizona limited partnership ("Seller") and the TOWN OF ORO VALLEY, an Arizona municipal corporation ("Purchaser") with reference to the facts set forth below: A. The Seller is the owner of the real property described on the attached Exhibit A ("Property"). B. The Purchaser desires to purchase and the Seller desires to sell the Property and for and in consideration of the mutual covenants set forth herein the p Y parties hereto agree as follows: 1. Agreement to Sell. The Seller hereby agrees to sell and the Purchaser hereby agrees to purchase the Property upon the terms and conditions set forth herein. 2. Right of Entry and Feasibility Period. The Purchaser and its engineers and agents shall have access to the Property at reasonable times after execution of the Agreement("Opening of Escrow") for theur ose of conducting, at the Purchaser's sole cost and expense, geological, soil, p p drainage,engineering,building inspection,environmental tests,and other studies and surveys which the Purchaser,in its discretion,deems necessary to determine whether the Property is suitable for the Purchaser's contemplated use. The Purchaser shall thereafter restore the Property to the condition p which existed prior to performing such tests and studies. Any entry by the Purchaser, or its engineers,employees,agents or independent contractors,upon the Property shall be at the sole cost, expense and risk of the Purchaser. The Purchaser hereby indemnifies and agrees to hold the Seller harmless from and against any and all loss,cost or expense(including reasonable attorney's fees and ) ex enses resulting from any entry by the Purchaser, or any engineer, employee, agent,principal or expenses) independent contractor of the Purchaser, upon the Property. The Purchaser shall have from the . Opening of Escrow until 5:00 p.m., June 11, 2008 ("Feasibility Period") to review the title to the p g Property ert and to evaluate the feasibility of developing and constructing a park and ride facility upon the Property. In the event the Purchaser concludes in its sole discretion that the title is not satisfactory or that the Property is otherwise not suitable for its intended use,then the Purchaser may cancel this Agreement by so notifying the escrow agent in writing on or before the expiration of the FeasibilityPeriod, in which event this Agreement shall be null and void and the parties shall have no 'fwA further rights hereunder (excepting the Seller's indemnity rights set forth above). Ibp J�YpI p� liny� upol 3. Purchase Price. The purchase price for the Property shall be the sum of Seven Three Dollars ($702,663) a able in cash orHundred and Two Thousand, Six Hundred and Sixty payable ,,,tl,� certified funds at the time of closing. Ilpill 4. Closing. The closingshall take place on or before 2:00 p.m. on June 11, 2008. � Magnus Title/Lawyers Title(Vicki Etherton), 1 South Church, Suite 2040,Tucson,AZ 85701,shall act as escrow agent and the provisions of this Agreement shall constitute joint instructions to the escrow .agent. Real property taxes and assessments shall be prorated in accordance with generally g accepted accountingprinciples as of the date of closing.At the time of the closing,the Seller and the p Purchaser shall equally divide all escrow and closing fees charged by the escrow agent and the q Y Purchaser shallpaY all recording fees. All tax prorations shall be final and shall be based upon the latest available tax information only. 5. Title. Following the execution hereof,the escrow agent shall provide to the Purchaser a Preliminary p Title Report showing all matters of record affecting title to the Property. At the closing, the Seller shall convey the Property to the Purchaser by Special Warranty Deed upon the escrow agent's standard form free and clear of any mortgages, deeds of trust or other security agreements and subject to all matters of record, all matters provided for herein and all matters g inspection an observable uponp ection or accurate survey of the Property. In the event title is not in the condition required bythe preceding sentence as of the closing, then the Purchaser as its exclusive q remedies mayeither waive any objections to title and proceed with closing, or terminate this Agreement. Within a reasonable time after the closing,the Seller at the Sellers, expense shall furnish the Purchaser with a standard owner's policy of title insurance in the full amount of the purchase price for the Property showing the title to the Property vested in the Purchaser subject only to the matters set forth above and the standard printed provisions of such title policy. 6. Representations and Warranties. The Purchaser acknowledges and agrees that except as expressly set forth in this Agreement or in any of the closing documents to be executed and p Y delivered by the Seller as provided herein, neither the Seller nor its agents have made or will make any representation or warranty, express or implied, including without limitation any warranties of p habitability, suitability and fitness for intended purpose or otherwise with respect to any aspect of the Y Property.ert . The Purchaser is purchasing the Property strictly in"AS IS"condition except as expressly set forth herein. The Purchaser accepts and agrees to bear all risks regarding all attributes and conditions, latent or otherwise of the Property. The Purchaser has made or will make prior to the closing hereunder its own inspection and investigation of the Property and surrounding area including,without limitation,its subsurface,soil,engineering and other conditions and requirements, whether there are any eminent domain or other public or quasi-public takings of the Property contemplated, and all zoning and regulatory matters pertaining to the Property. The Purchaser is entering into this Agreement and purchasing the Property based only on the representations and warranties of the Seller expressly set forth in this Agreement or in any of the closing documents to be executed and delivered by the Seller as provided herein and otherwise upon the results of its own inspection and investigation and not in reliance on any statement, represvntation, inducement or agreement of the Seller except as specifically provided herein. The Purchaser agrees that neither the , anyrepresentation, covenant, guarantyor ''"!' Seller nor anyone acting on behalf of the Seller has made p warranty whatsoever,whether written or oral,concerning the Property except as specifically set forth ;��in, anyW, +s reports or other information that the Seller or anyother party ''° herein. Any engineering data, soils Purchaser is furnished without anyrepresentation or warranty whatsoever. may have delivered to the Seller makes the followingrepresentations and warranties to the Purchaser with the t1+ The �4�, understanding that the Purchaser is relying thereon, which representations and warranties shall irvi survive the closing and the execution and delivery of the deed: A. The Seller has not received any notice of any violation of any ordinance, regulation, law or statute of any governmental agency pertaining to the Property or any 2 portion thereof including without limitation those pertaining to public health and safety or public nuisance or menace and to the best of the Seller's actual knowledge without further investigation, the Property has not been used to manufacture, store or dispose of toxic or g hazardous substances,materials,pollutants or waste covered by the Resource Conservation and Recovery Act or the Comprehensive Environmental Response, Compensation and Liability Act of 1980 as amended and reauthorized,and the Arizona Environmental Quality Act or other regulatory scheme pertaining to such matters. B. The Seller is and will be duly and legally authorized and permitted to enter into this Agreement and to carry out and perform all covenants to be formed by it hereunder. g The Seller is not a party art to,or subject to or bound by an agreement with any person,or to the best of the Seller's knowledge without further investigation, any judgment, order, writ, injunction or decree of any court or governmental body which could prevent or impair the(i) effect of the Seller's execution and delivery of this Agreement, or (ii) the Seller's performance hereunder, as contemplated herein. C. To the best of the Seller's knowledge without further investigation,there are no claims,actions, suits or other proceedings pending or threatened against the Seller which affect the Seller's right, title and interest in and to the Property. 7. Default. In the event of any default hereunder,then the non-defaulting party shall be entitled to pursue any remedy available at law or in equity. 8. Access Easement and Utility Extension Agreement. Immediately prior to the closing and asp art of the consideration hereunder, the Access and Utility Easement Agreement attached hereto as Exhibit B shall be executed by the parties hereto and recorded to provide for access and utilityextensions required for land adjacent to the Property that is currently owned by the Seller. q 9. Broker Commissions. Each party hereto represents and warrants to the other that it has not employed any broker or finder in connection with the transaction contemplated by this Agreement. The Seller discloses that one or more of their respective principals are or have been licensed real estate brokers or sales persons. 10. Notices. Unless otherwise required by law,all notices required to be given hereunder shall be in writing and shall be conveyed by (i) personal delivery (including by any messenger or courier service),(ii)the United States Postal Service by certified or registered mail,postage prepaid, requested, or (iii) facsimile transmission, as follows:with return receipt q IjC NI n.0 Vistoso Limited Partnership .�� Seller: Overland p ,4 /o Bill Hallinan 11 3567 East Sunrise, Ste. 219 Tucson, AZ 85718 .u1 I ilpl�' (IPI Phone: (520) 299-8424 Fax: (520) 577-2391 3 Copy to: W. James Harrison, Esq. W. J. Harrison & Associates, P.C. 3561 East Sunrise Dr., Suite 201 Tucson, AZ 85718 Phone: (520) 529-3700 Fax: (520) 529-8977 Purchaser: Town of Oro Valley Jose Rodriguez 11000 North La Canada Oro Valley, AZ 85737 Phone: (520) 229-4872 Fax: (520) 229-4899 Email:jrodriguezorovalley.net Escrow Agent: Vicki Etherton Magnus Title 2525 East Camelback Rd., Ste. 600 Phoenix, AZ 85016 Phone: (602) 748-2800 Fax: (602) 748-2710 Noticeiven byfacsimile transmission shall be deemed to have been given upon receipt at the g number listed above, notice given by personal delivery shall be deemed to have been given upon delivery to theappropriate ro riate address against receipt therefor(or upon refusal of acceptance),and notice given byU.S.mail shall be deemed to have been given two days after deposit in the U.S.Mail. Each party may designate from time to time, another address in place of the address set forth above by Y g notifying the other parties in the same manner as provided in this paragraph. 11. Environmental Release. Except as to the breach of any express representation and warrantyset forth herein,the Purchaser hereby waives,releases and discharges on behalf of itself and any its successors and assigns right, claim or cause of action that he has or may acquire against the Seller arising out of or related to the existence of any hazardous substances, waste, pollutants or contaminants in, on or about the Property. 12. Miscellaneous. In the event of litigation to enforce the terms of this Agreement,the prevailing partyshall be entitled to receive its reasonable attorneys' fees and costs of suit. p g al.ti, Ii:rIG dFul h.ly Time is hereby made of the essence of this Agreement. E(r All covenants, agreements, representations and warranties set forth herein shall . g p . anydeed or other document or instrument executed in 'gip)` survive the closing and shall not merge into � I�IrI connection with the closing. The Purchaser and the Seller hereby affirm that the Property is being purchased under the threat of condemnation. 4 The Purchaser shall not assign its rights or delegate its obligations hereunder without the express written consent of the Seller, which consent shall not be unreasonably withheld. The wording of this Agreement has been arrived at by negotiation between the parties, and, in the event of any ambiguity,this Agreement shall not be construed in favor of or against any party hereto on account of such party having prepared any draft or final version hereof. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their successors and assigns. Unless the form is attached hereto as an exhibit,all documents and instruments to be executed in connection with the closing of this transaction shall be upon forms customarily used by the escrow agent in transactions of a similar nature in Pima County, Arizona. This Agreement constitutes the entire agreement between the parties and the parties expressly acknowledge that there are no other agreements or understandings in regard to this transaction other than as set forth herein or contained within other written agreements referred to herein. The Seller shall execute and deliver to the Purchaser at each closing an Affidavit as required by IRC Section 1445(b)(2) setting forth the Seller's taxpayer identification number, the Seller's address and stating that it is not a foreign person for purposes of that section. The waiver by any party hereto of any breach of any term, covenant or condition contained herein shall not be deemed to be a waiver of any subsequent breach of the same or any other term, condition or covenant contained herein. If the date for performance of any obligation hereunder or the last day of any time period provided for herein shall fall on a Saturday, Sunday or legal holiday, then such date for performance or time period shall expire on the first day thereafter which is not a Saturday,Sunday or legal holiday. This Agreement shall be construed in accordance with the laws of the State of Arizona. In the event of any dispute ute hereunder, exclusive jurisdiction and venue shall exist only in H;d. Pima County, Arizona. 115 Captions and headings as set forth herein are for reference purposes only and shall not1111 be used in construing this Agreement. �,i`� hist iuw tp AGREED TO on the dates set forth below. 5 SELLER: OVERLAND VISTOSO LIMITED PARTNERSHIP, LLP» an Arizona limited liability partnership By: Ready Two Corporation, its general partner Its: Date: c 1/ o$ PURCHASER: TOWN OF ORO VALLEY, an Arizona municipal corporation � M By: c:).41:11_2_3 Date: 4•/s/41 ,—gig A t�VJH\af\022208\agreements\375clean r� ) a 11-2 9 1 tu,SEW .1 ',I Acc IL Wri 010 � d`"ut u'Y NY m.n� np�. yid . 1�/ !IM' 6 EXHIBIT "A" (the Property) ALL OF THAT PORTION': OF sEcrioN 29, TOWNSHIP 11 SOUTH, RANGE 14 EAST, G&SRBM, PIMA COUNTY, ARIZONA, BEING A PORTION OF THAT PROPERTY DESCRIBED IN DOCKET 102.37 AT PAGE 21.61(:),MORE P,tancuLARLy DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHERNMOST CORNER OF SAW PROPERTY DESCRIBED IN LOCKET 10237 AT PAGE 2166,.BE1NO poit,,rr ON A CURVE ON THE NORTH RIGHT OF-WAY OF RANCHO VISTOSO BOULEVARI.),AS RECORDED IN DOCKET 7868 AT PAGE 1456,FROM WHICH THE RADIUS BEARS N 16°39 44's E; THENCE NORTHWESTMY ALONG SAID RIGHT-ONWAY,ALONG A CURVE TO THE RIGHT,WHICH RAS A RADIUS or 1425.00.FEET AND A CENTRAL ANGLE OF 20°10'31 AN ARC LENGTH OF 501,78 FIMT TO 'PRE TRUE POINT OF BF:GINNING; THENCE CONTINUING NORTHWESTERLY ALONG SAID RIGRT-OF.WAY, ALONG A. CUIV2 TO THE !WWI', WHICH HAS A RADIUS or 1425.00 FEET AND A CENTRAL ANGLE OP 09 09' 41", AN ARC LENGTH OF 227.85 KIT TO ralt, SOUTIIERNMOST CORNIIR OF THAT PROPERTY DESCRM.E13 N DOCKET 12952 AT PAGE 752S; THENCE N 45059'56"E,ALONG THE SOUTHEAST LINE O1 S An)PROPERTY DESCRIBE0 IN DOCKET 12952 AT PAGE 7525,A DISTANCE OF 351.54 FEET TOIYHE EASTERNMOST CORNER OF SAID PROPERTY, ALSO BEING A POINT ON THE SOUTHWEST LINE OF THAT PROPERTY DESCRIBED IN DOCKET 10617 AT PAGE 1897; THENCE S 50° 04'13" B,ALONG SAID SOUTHWEST LINE,A DISTANCE OF 177,99 FEET TO A POINT; THENCE S 37' 56' 07" W, A DISTANCE OF 355.70 FEET TO THE TRUE POINT OF BEGINNING. SAID PARCEL CONTAINING 72,200 SQ.FT.OR 1.658 ACRES. 444V7" : *414°N ;$145t, 2%2S CM:cm i CiVit$ E. 't April 3, 2008 . MORRISON \\Lauri \do51802Tovirn Parce1.wpd • 5 116.1 S Par 1 of 1 CA, p !Ii;11 r P TFIE PROPERTY '''....).'".1-"--arr-li 'EXHIBIT �'' 4� , 1- ..,,,,,,,,,),-- itur ,___,,' .0* ' vcrea. • titcy-- cio:. 3• T „:50 L • T- i• r ''''''''ffeee,,..,,,,,,,,"- ' M j\1\ ! N TSI PARCEL N N\i'. r N N cu L ti . -1. ..,.. . N, ii 446.. it>. ‘ . (RETAINm /I PPRCEL) NI Cii "i's• % -:-T.P.O.B. il, 't t 4411 • 451 zb 1/ SCUT-ERN- OS COMERNiN ./ OF PROPERTY 4. rr� 1N a IST, ,. 10237, PO. ,, I4OFTH MI a� ��• -,' ILE: 1' -150' NCOWhENCENT I 0 s-ii �P M QOM Ems, LIZ 2931! IP ld► --al OFW ENGINEERING, L.L.C. lo 9 3 MN 1 ecisgas TEMA go* D1H 18 I T Of TI MI PARCEL l7 tizbatilibmidsoarg.Illiad CPIllf JOB No. [ C23-1O2 11111 EXHIBIT "B" (Access Easement and Utility Extension Agreement) When recorded mail to: William Hallinan Cottonwood Properties 3567 East Sunrise Drive, Suite 219 Tucson, AZ 85718 ACCESS EASEMENT AND UTILITY EXTENSION AGREEMENT This AGREEMENT is made this day of ,2008 by Overland Vistoso Limited Partnership, LLP, an Arizona limited liability partnership ("Overland") and the Town of Oro Valley, an Arizona municipal corporation("Town"). RECITALS A. Whereas the Town has agreed to purchase from Overland the property described in Exhibit"1"hereto(the"Town Parcel")and Overland will retain ownership of the parcel described in Exhibit"2" hereto ("Retained Parcel"). B. Whereas Overland desires to establish for the current and future owners of the Retained Parcel, a perpetual easement for that portion of the Town Parcel described on the attached Exhibit "3"("Shared Access Easement Area")in order to allow for access to the Retained Parcel from the existing median break and curb cuts on Rancho Vistoso Boulevard. C. In order to minimize disruption to use of the Town Parcel and the expense associated with utility extensions if done after the development of the Town Parcel,the parties hereto desire to provide for extension of sewer, water and gas, and conduit for electric, telephone, cable and other utility facilities within the Shared Access Easement Area (collectively "Utility Extensions"). ,ij• d e�� dIT In consideration of the foregoing, Overland and the Town hereby covenant and agree as �M follows: 1. UtilityEasement. Overland herebyreserves to itself and all future owners of the It Retained Parcel,and grants to all public utility companies and other providers,a perpetual easement and right of way for the purpose of constructing,using,maintaining,operating,repairing,replacing, a" inspecting and removing any and all sewer,water, gas, electrical,telephone, cable,and other utility facilities in, over, under, upon and across the Shared Access Easement Area. All such utility lines and cables shall be located underground. 2. Access Easement. Overland hereby reserves and establishes for the benefit of all current and future owners of the Retained Parcel and their tenants, guests, invitees and assignees a perpetual easement and right of way over,upon and across the Shared Access Easement Area for the purposes of pedestrian and vehicular access, ingress and egress, including constructing, using, maintaining, operating, repairing, replacing, and inspecting a driveway across the Shared Access Easement Area. No present or future owner of all or any portion of the Shared Access Easement Area shall erect or place any building or other structure within the Shared Access Easement Area nor allow any landscaping, fill,walls or fences that will interfere with the exercise of the rights granted hereunder. 3. Utility Extensions. In the event that the Town commences development on the Town Parcel prior to construction of structures on the Retained Parcel, the Town shall at its expense construct the Utility Extensions within the Shared Access Easement Area to the boundary of the Retained Parcel. 4. Miscellaneous. This Agreement shall run with the land and be binding on the current and future owners of the Town Parcel. EXECUTED as of the date set forth above. OVERLAND VISTOSO LIMITED PARTNERSHIP, LLP, an Arizona limited liability partnership By: Ready Two Corporation, its general partner By: Its: TOWN OF ORO VALLEY, an Arizona municipal corporation By: Its: /, STATE OF ARIZONA ) s. 15111 COUNTY OF PIMA ) 1151 ACKNOWLEDGED before me this day of , 2008, by the of Ready Two Corporation. Notary Public Notary Seal STATE OF ARIZONA ) ) ss. COUNTY OF PIMA ) ACKNOWLEDGED before me this day of , 2008, by , the of the Town of Oro Valley. Notary Public Notary Seal If�11 N a1"�E a:r! �I. tim IN�i�I ISIfi1y INU� 4t�y titin{WW �Ip• Illy 11.111 nM Ng• u.la EXIMITT"1" TOWN PARCEL LFCAL DESCRIPTTO'N OPW JOB NO. 0802,6402 ALL OF THAT PORTION OF SECTION 29, TOWNSHIP II SOUTH, RANGE 14 EAST, G8LSREM,, PIMA MINTY, ARIZONA, BEING A :PORTION OF 'PRAT PROPERri DESCRIBED IN DOCKET 10237 AT PAGE 2166,MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHERNMOST CORNER OF SAID PROPFRTY DESCRIBED IN Douai. 10237 AT PAGE 2166,,8EINC A POINT ON A CURVE ON Till Nowni RIGHT- OF-WAY OF R ANClIOVISTOSO BOULEVARD,AS RECORDED IN DOCKET 7868 Al PA.GE 145a, FROM WHICH THE RADIUS BEARS N 16° 39'44" THENCE NORTH WESTERLY ALONG SAID RIGHT-OF-WAY, ALONG A CURVE TO THE RIGH1',WHICH RAS A RADIUS OF 1425..00 FEET AND A CENTRAL ANGLE OF 20' 10'31 AN ARC LENGTH OF 501,78 FEET TO THE TRUE POINT OF BECTINNIN G; THENCE CONTINUING NORTHWESTERLY ALONG SAID RIGHT-OF-WAY, ALONG A CURVF, TO 'ME RIGHT WHICH HAS A R.A.DIUS OF 1426,00 FEET AND A CENTRA.1, ANGLE OF Or 09' 41k, AN ARC LENGTH 01 227,85 FEET TO THE SOUTHERNMOST CORNER 0F THAT PROPERTY DESCRIBED IN DOCKET 12952 AT PAGE 7525; THENCE N 45'5956"E,ALONG THE SOUTHEAST LIN E OF SAID PROPERTY DESCRIBED IN DOCKET 12952 AT PAGE 7515,A DISTANCE OF 351-5'4'FEET TO THE EASTERNMOST CORNER OF &AM PROPERTY, .ALSO BEING A il1G1NT UN ThE SOUCHWEST LINE OF THAT PROPERTYDESCRIBED EN DOCICET 1061'7 AT PAGE 1897; THrNCE S 5Ir 04' 13"E,ALONG SAID SOUTHWEST LINE,A DISTANCE OF 177,99 FEET TO A POINT; THENCE S 56' 07" W, A DESTA NCE OF 355,70 FEET TO THE TRUE POINT OF BEGINNING. smn PARCEL CONTAINING 72,200 SQ, FT. OR .658 ACRES, Loh !E' Awns CM:ern 4 Cum E 119 April 3, 2008 tiOftRISON \\Lauri edoe5 I t.,18-026',TownPared,wpd '441, :4"e, 4Atri5 4f,-4131117.t.7"14 —=4- Page I or I r o5 P P ' EXHIBIT viz. 50 1 ciicti. 07,5! • ,. riorifib L ..1. ., . .. ',.. • .N, -.,.., Iiii\te, U. 1 Z1 It ELI ''\ ) , TOWN N. . , 'N., . . N m / \NN (RETAINED ll , PARCEL) 71" • ...:,. % ; -- .4... ,,,, T.P_Ci_B. twi '',... I . Ii. 'Ise; k . I „.1 SCUT-ERN— I .4: ! YOST CaRNER 1 OF PROF1EIRTY I IN DKT. 10237, PG. • NORTH 4114‘1%141 -...„ ).„.,, al BE .., CALL 111 -150' . -‘‘-‘--.-...,„,„. 111'''C04110ENCINIENT Ci comui-rr 03 w Dail mit" ue 211345 ::1„ 1E5 OPW ENGINEERING, L.L.C. 13 3 1111:111 1 Tamps 14.1.14_And on DUIIOF BIT TEM PARCEL IIIII In ql el riziumobilmsdaddli CPW JOB NO. CED211-102 b EX H I BIT"2" RETAINED PARCEL LEGA],DESCRIPTION OPW JOB NO.08026-102 ALL OF THAT PORTION OF SECTION 29, TowNsirrP SOUTH, RANGE 14 EAST, G&SRBM, PIMA COUNTY, ARIZONA, BEING A PORTION OF THAT PROPERTY DESCRIBED IN:DOCKET 10237 AT P A011 2166,MORE.PART1CUT,ARIX DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHERNMOST CORNER OF SAID PROPERTY DESCRIBED IN DOCKET 10237 AT PAGE 2166,BEING A POINT ON A CURVE ON THE NORTH RIGHT-OF- WAY OF RANCHO VIS 1050 BOULEVARD,AS RECORDED 2.4 DOCKET 7868 AT PAGE 14516,FROM WHICH THE RADIUS MARS N 1619'44'E; THENCE NORTH WESTERLY ALONG SAID RIGHT-OF-WAY, ALONG A CURVE TO THE RIGHT,WHICH H&S A RADIUS OF 1425,00 FEET AND A CENTRAL ANGLL OF 20' 10'31", AN ARC LENGTH OF 501.78 FEET TO A POINT THENCE N 370 56'07"E,A DISTANCE OF 355.70 FEET TO A POINT ON THE SOUTHWEST LINE OF MAT PROPERTY DESCRIBED IN DOCKET 10617 AT PAGE 1897; THENCE S 500 04' 131'B.ALONG SAID SOI 1TH WEST LINE, A DISTANCE OF 394.51 FEET TOAPOINI ON THE EAST LINE OF SAID PROPERTY DESCRIBED IN DOCKET 10237 AT PAGE 2166; THENCE S /6' 39'44"w,ALONG THE EAST LINE OF SAID PROPERTY,A DISTANCE OF 263.06 FEET TO THE TRUE POINT OF BEGINNING. SAID PARCEL CONTAINING 142,100 SQ. FT, OR 3.262 ACRES. :e7c 2,61)25 CIIMS E, 11 MOM/15014 Awed - • CM:eTn April 3,2008 \\LawicAdoc51%28026aetained Parrel,wpd Pap:: 1 of 113 91 EXHIBIT "2" L ......... , . K , , N / ." DJ r3 / I! / il Ilk to I • ,.A. II La , . DETAINED .. PARCEL ., ....., .1, . II .ISe 1: ,fr . , IJI\ 14: -lit * , T.P.O.B, ,. SOUTHERN— MST SER ' CF PRCPER1Y •,,1 NORTH - Nm 1as101.17, Pia. in CALL 1" -15.02 COPYFIEFIT ce al DAM EERIA ut 293a ::3 „..1, dk, 6 '21 OPW ENGINEERING, L.L.C. t5 3 WM 1 Itneau.Tan& Namill pp EXHIBIT OF RETAINED PARCEL 11111 19 ftuumktiackihrmiliArd: 111,"1 la CPW JOS Na CD2 -1a2 19 EMil BIT '3" SHARED ACCESS EASEMENT AREA LEGAL DESCRIPTION OM JOB NO. 08026402 ALL OF THAT PORTION OF SECTION 29, TOWNSHIP it SOUTH, RANGE 14 EAST, G&SRBM, RNA COUNTY, A1WONA, BEING A PORTION OF THAT PROPERTY DFS(R1iih1) IN DOCKET 1023'7 AT PAGE 2166, MORE PARTICULARLY DESCRIBED AS FOLLOWS; COMMENCING AT THE SOUTHERNMOST CORNER OF SAID PROPERTY DrSCRIBED IN DOCKET 10237 Al PAGE 2166,BLING ' POINT ON A C.1 AO'E ON THE NORTH RIGHT- OF-W AY Of RANCHO VISTOSO BOULEVARD,AS RECORDED IN DOCKET 7868 AT PAGE 1456, FROM WHICH THE RADIUS BEARS N I 639'44"E; THENCE NORTHWESTERLY ALONG SAID RIG]IT,OF-WAY,ALONG A CURVE TO THE RIGHTHit.LI HAS A RADIUS OF 1425.00 FEET AND A CENTRAL A NC.II.E or 200 to'31', AN ARC LENGTH OF 501.78 FEET TO THE TRUE POINT OF BEGINNING; THENCE CONTINUING NORTHWESTER].Y ALONG SAM RIGHT-OF-WAY, ALONG A TO THE RIGIJ I WHICH H AS A RADIUS OF 1425.00 FEb:I. AND A CENTRAL ANGLE OF 03' 35'43", AN ARC LENGTH OF 89,42 FEET TO A POINT; Ti IENCE N 56'07" E,A DiSTANCF OF S3.92 FEET 10 A POLNT; THENCE S 52 03' 53".E,A DISTANCE OF 89,40 FEET TO A POINT; THENCE 5 37' 56' 01" W. A DISTANCE OF 85.02 FEET TO THE TRUE POINT OF BEGINNING, rit; 26928 • •, CliF0 E MOFIT140114 $00e. 4;° .A.4; /sxraily cm:cm 6 April 18, 200.8 1..aridoc51',280261Shared Access Easement Arca.wpd 1t5 „t„ .„._.........___........ EXHIBIT "3" . ,0 ------ A - .d,4G. ...e''', - • •. • V .,,..".• 0.,:0 ,. // • - ' 191.,,,i' 1' •'/ ' 4 6 ", VCr: //let. • • • ././ .-„„,_. ID•..,-- tbk-. .. • .., . .. ././ .... • o- / / r / / . . VW.,....,'<cV7w. ..• .,,,.. . • cilyistC?„'''' / /, /. / .., • CO :'''''Cil \'..'''. e.,• / / '• Cl .,,,,•*'''.eq. ./. . //. i S° --""cpt06. • ' 'SO' .,--"' .- • / .. . . .., . ... . • Nis5.„,,--'14,140 .. ,..... ....../ . ...<,„.Av.,- .... . • • ., . ./ . „... , . . ,. ,---- .,„• . .. i.„, .., .. • ..,- ••. . .., .. „. „,....• / „ •,. ... ....„ „, • , CKT10617 ,,,• ,- \ .., . ,,,• , , .''' . .„, ... PG. 11397 ..../ / ,...,.--' , •:' .\\ . . .,.. ./.. . /.. . .. /1 ./ •,.. „/". / , / / / . / „..,,.... \ , . ..... ....„,,,,. ,„,.... . . ,. . N... 12952 DKr / . ,2'..., ..,,.... . ,... .../ , „... ..." , . ,,... .. / / , - PG., 7525 , , , ,. , ,/ / ...,. „. t--• \ .. \ \ . ......,. / ..,' / ....,... / (.1 \ , .-..... / /../ ., ... , ..„ ,..., • ... .. ...., . .,./f // .., „ , s.„ • / / ,... .. •,,, ..,-• ' ....., . ../ .., tn . // CC: C:)5.. ..,:_ \ ‘, • ' ., '. .i . .... : / ., 0N ,' „ ' . ,.... (T , „.. .. PARCEL) Jr/ i itr / ;:c..-; • , --,„›,, ..„ ... ... / „,,- -., Cei C4P\P - . ' • ' . / i C.'. .•4,43\IS} .1.. / .. ...i E cl •4,\41/4”,,.. , * It \\<CNI ''• ''1 . ' ' SHARED -.5 ACCESS Amory en i'\\4•'PO, . EASEMENT (RETAINED :i \ AREA PARCEL) I, .7. -- SOUTHERN- 1 q,- ,,„ 7-; TP I O.B. -,,,, .,....... : MOST CORNER OF PROPERTY -,, ....,.. --.s IN OKI a ,„,,...,... 10237, PG. 2166.„,... k..1 N POINT OF „.. --.......... s, ,0 SCALE: 1" =150' N COM MENCEMEN T t.-..J cri INI , ..,,, rj: ©COP11311GAT ORIN CNG1NEERING, LLO 2008 ,, , ,-1 ,z. ,....,.., L OP11T ENGINEERING, .L. C . a EXHIBIT OF SH.AREO ACCESS (7, ! 7000 F., Temillie Volta Road #37 Tuciwn, itrizoua 0745 lE ASEMENT AR EA apim „. Pilot* (WO) X96-5544 t.i OFVY JOE NO, 08026-102 F. ANN RODRIGUEZ, RECORDER DOCKET: 13326 E RE CORDED BY: MRB PAGE: 103 A DEPUTY RECORDER %> .°1% > NO. OF RAGES: 2 S 1562 PE2 kri - �� �o SEQUENCE: 20081140048 T ti et TLATI W .. 11.1 • ,�Z 06/12/2008 V =ti a,.O mi- y S MAGNUS T I TLE `�' `� `'� WTDEED 10:01 2525 E CAME LBACK RD S TE 600 1/I10p` D PHOENIX AZ 85016 MAIL E AMOUNT PAID $ 10.00 LrJLdJ L'. t.1-11Y1L'LL,CILt.11 1W., )0v1111 vvv PHOENIX,AZ 85016 ESCROW NO.: 02-02024379-711-VE SPACE ABOVE THIS LINE FOR RECORDER'S USE Exempt ARS 11-1134 A3 Special WDeed For the consideration of Ten Dollars, and other valuable considerations, the undersigned Overland Vistoso Limited Partnership, LLP, an Arizona limited partnership ("Grantor") conveys to Town of Oro Valley, an Arizona municipal corporation ("Grantee"), the following described property situated in the County of Pima, State of Arizona, together with all appurtenant benefits, rights and privileges (collectively, the "Property"): SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF. Subject to all matters of record in the official Records of Pima County, Arizona and all those matters observable upon an inspection or survey of the Property, Grantor binds itself and its successors to warrant and defend the title to the Property solely against all acts of Grantor and of no other. Dated this /1 day of June, 2008. Overland Vistoso Limited Partnership, LLP an Arizona limited liability partnership By: Ready Two Corporation, an Arizona corporation Its: General Partner II 11 By: tom-•., t6 -3 /*mite- a lila jM 41r>H V !,,v4u Its: IFzI Irq' url� STATE OF ARIZONA COUNTY OF PIMA Orli This instrument was acknowledged before me this day of June, 2008 by -r-i S as Authorized Signatory of Ready Two Corporation, general partner of Overland Vistoso Limited Partnership, LLP • ission expires: ' ' ' .�, :Y. �. , ' Notary Public 1 . 1L?ON .., :ATV'T V PLAINLTR S 6 bi.a.../ r,: 1 I.•Jrw ,1 r• l �yf I 7' 2010 ` -:-m. -__ ...._ ..mow.-'I.SY.+CLi'...., ..i .. ..•.iS A.'s.w..+l:. c..) EXHIBIT "A" All that portion of Section 29, Township 11 South, Range 14 East, Gila and Salt River Base and Meridian, Pima County, Arizona, being a portion of that property described in Docket 10237 at page 2166, more particularly described as follows: COMMENCING at the Southernmost corner of said property described in Docket 10237 at page 2166, being a point on a curve on the North right-of-way of Rancho Vistoso Boulevard, as recorded in Docket 7868 at page 1456, from which the radius bears North 16 degrees 39 minutes 44 seconds East; THENCE Northwesterly along said right-of-way, along a curve to the right, which has a radius of 1425.00 feet and a central angle of 20 degrees 10 minutes 31 seconds, an arc length of 501.78 feet to the TRUE POINT OF BEGINNING; THENCE continuing Northwesterly along said right-of-way, along a curve to the right, which has a radius of 1425.00 feet and a central angle of 09 degrees 09 minutes 41 seconds, an arc length of 227.85 feet to the Southernmost corner of that property described in Docket 12952 at page 7525; THENCE North 45 degrees 59 minutes 56 seconds East, along the Southeast line of said property described in Docket 12952 at page 7525, a distance of 351.54 feet to the Easternmost corner of said property, also being a point on the Southwest line of that property described in Docket 10617 at page 1897; THENCE South 50 degrees 04 minutes 13 seconds East, along said Southwest line, a distance of 177.99 feet to a point; THENCE South 37 degrees 56 minutes 07 seconds West, a distance of 355.70 feet to the TRUE POINT OF BEGINNING. :"? d�w t:uif t7. lji+t 1.11, PLAINLTR 2525 E.Camelback Road,Suite 600 MAGNus TITLE AGENCY Phoenix, AZ 85016 A division of Title Security Agency of Arizona Phone: (602)748-2800 Fax: (602)748-2710 Overland Vistoso Limited Partnership, LLP, an Arizona limited partnership Seller Town of Oro Valley, an Arizona municipal corporation Buyer Rancho Vistoso Blvd Oro Valley, Arizona Property Escrow Agent: Magnus Title Agency Vicki Etherton, Vice President Escrow No. 02024379 Closing Date: June 11, 2008 MAGNUS TITLE AGENCY 2525 E.Camelback Road,Suite 600,Phoenix, AZ 85016 (602)748-2800 SETTLEMENT STATEMENT Final Buyer(s): Seller(s): Town of Oro Valley Overland Vistoso Limited Partnership,LLP Property: Rancho Vistoso Blvd Escrow No. 02024379-711 VE Oro Valley,AZ Close Date: 06/11/2008 Proration Date: 06/11/2008 Buyer Description Seller Debit Credit Debit Credit ITOTAL CONSIDERATION: s $702,663.00 Total Consideration • ! $702,663.00 PRORATIONS AND ADJUSTMENTS: 1,958.99 County Taxes From 06/11/08 To 01/01/09 i 1,958.99 Based on the Annual amount of$3,505.06 ! j Subject property is approx 1.658 acres which is 29.08%of P P P overall APN#223-02-017M @412,053.18/2007 Tax Amt. Pima County Assessor has advised that the split will not 1 � be effective until 2009. ! ' The Seller shall be responsible for full year 2008 taxes on APN#223-02-0 1 7M when due. TITLE CHARGES ; 348.00 1 Escrow Fee to Magnus Title Agency $348.00 ESCROW CHARGES: r � Title Insurance to Lawyers Title 1,465.00 (RECORDING FEES: , 50.00 ; Recording Fees to Lawyers Title 705,019.99 Sub Totals Sub Totals j 1,813.00 704,621.99 705,019.99 Balance Due From Buyer Proceeds Due Seller' 702,808.99 705,019.99 1 705,019.99Totals Totalsl 704,621.99 704,621.99 1 I # t j Printed 06/10/2008 at 3:08 PM Page 1 MAGNUS TITLE AGENCY 2525 E.Camelback Road,Suite 600,Phoenix,AZ 85016 (602)748-2800 SETTLEMENT STATEMENT Final Escrow No. 02024379-711 VE iI Overland Vistoso Limited Partnership,LLPL an Arizona limited liability partnershipP Town of Oro Valley,s an Arizon. nicipal corps ationt By: Ready Two Corporation,an Arizona corporation0 Bim. / Its: General Partner 1 By: El I Its: Ert)(9.2-Am-:,ffic, l Com./ , I � 1 I ! � I Printed 06/10/2008 at 2:21 PM Page 1 F. ANN RODRIGUEZ, RECORDER RECEIPT OF RECORDING F. ANN RODRIGUEZ, RECORDER DOCKET: 13326 E RECORDED BY: MRB PAGE: 82 A DEPUTY RECORDER °v tri NO. OF PAGES: 21 S 1562arikh%'PE2 SEQUENCE: 20081140047 T TLATI Kl'ill, �Y 06/12/2008 S LAWYERS TITLE �' ° bRE310:01 I PICK UP ,qkQP D • PICKUP E AMOUNT PAID $ 25.00 F ORO VALLEY TOWN OF CONVERSION FEE $ 4.00 T RES #R0842 21 PAGES $ 21.00 0 AFFIDAVITS 2.00 EACH $ 0.00 0 COPIES 1.00 EACH $ 0.00 0 POSTAGE 1.00 EACH $ 0.00 RE SOLUT N/PROPERTY TOTAL $ 25.00 CASH $ 25.00 AMOUNT DUE $ 0.00 AMOUNT OVER $ 0.00 Pima County Recorder, P.O. Box 3145, Tucson, AZ 85702.3145, (520) 740-4350 WHEN RECORDED MAIL TO: Magnus Title Agency Vicki Etherton 2525 E. Camelback Rd. Ste. 600 Phoenix, AZ 85016 DO NOT REMOVE THIS COVER SHEET. IT IS NOW PART OF THE RECORDED DOCUMENT. DOCUMENT TO BE RECORDED: RESOLUTION NO. (R)08-42 f CCCK RESOLUTION NO.(R)08-A A RESOLUTION OF THE MAYOR AND COUNCIL OF THE TOWN OF ORO VALLEY, ARIZONA, AUTHORIZING AND APPROVING A PURCHASE AGREEMENT BETWEEN OVERLAND VISTOSO LIMITED PARTNERSHIP, LLP AND THE TOWN OF ORO VALLEY FOR LAND ACQUISITION IN THE AMOUNT OF 702 663.00 FOR 1.6 ACRES LOCATED AT RANCHO VISTOSO $ REGIONAL NEIGHBORHOOD N O. 2 PARCEL B, UTILIZING TRANSPORTATION AUTHORITY (RTA) FUNDS FOR A PARK AND RIDE FACILITY WITHIN THE TOWN OF ORO VALLEY, IDENTIFIED IN THE REGIONAL TRANSPORTATION PLAN the Town of Oro Valley is a political subdivision of the State of Arizona WHEREAS, vested with all associated rights, privileges and benefits and is entitled to the immunities and exemptions grantedmunicipalities munici alities and political subdivisions under the Constitution and laws of the Slate of Arizona and the United States; and . . { 48-5301, et seq. authorizes the Regional Transportation Authority WHEREAS, A.R.S. § q (RTA) to act as a regional taxingauthority for the purpose of funding multi-model transportation operations and improvements identified in the Regional Transportation p P Plan ( the Plan") approvedby the voters at the special election held in Pima County, Arizona on May 16, 2006; and WHEREAS, the RTA is authorized by A.R.S. § 48-5304(16) and § 48-5308 to administer and distribute regional transportation funds to the members of the RTA, and to furtherance of that purpose to fund those projects or programs identified in sell bonds in P � the Plan; and WHEREAS, the Park and Ride Facilityis one of the transportation projects included in the Plan or is eligiblefunding for as part of a categorical program included in the Plan; and AS the Town of Oro Valley has agreed d to purchase from Overland Vistoso Limited Partnership, LLP, the property described in n the Purchase Agreement, attached hereto as Attachment"1", utilizing RTA funds; and WHEREAS, it is in the best interest of the Town of Oro Valley to enter into the Purchase Agreement, attached hereto as Attachment "1", with Overland Vistoso Limited Partnership, LLP, in the amount of 5702,663.00 for the acquisition of the land described in the Purchase Agreement for the development of the Park and Ride Facility. NiLephshytfitcslPublic Woiks1TRANS1NGA's1RTA Park and Rick Furdin Actolwio.-RTA Pule and Rid.Land PuRlusc.do( ;'s pllficehaAS I 50 • NQW, THEREFORE, BE IT RESOLVED by the Mayor and Council of the Town of Oro Valley, Arizona that the Purchase Agreement, attached hereto as Attachment "1", the and between t e Overland Vistoso Limited Partnership, LLP, and the Town of Oro Valley is hereby approved,a roveda and the Mayor is hereby authorized to take such steps as are necessary to execute the Purchase Agreement. NOW, BE 1T FURTHER RESOLVED that the Town Engineer or his designee is authorized to finalize the purchase of the property on behalf of the Town. hereby y PASSED AND ADOPTED by the Mayor and Town Council of the Town of Oro Valley, Arizona this 4th day of.1E, 2008. TOWN OF ORO VALLEY Paul H. Loomis, Mayor ATTEST: APPROVED AS TO FORM: Ka n E. Cuvelier, Town Clerk Tobin Rosen,Town Attom Y Date. -- -z3q Date: 6 d 6r W earistwc(1tAP\btie Worts,TRANSINGA'ARTA Pah and Ride FundineRcsolurion•RTA Part and Ride Land Pwthase.doc Ionia of Oro Vsllcp Attorney's ORscdcaAl31 Sue G•AT TA CHMEN 1 9� VLcvaltiAyefiles,Publit Works,TRANSfl\GA's1RTA Part and/tick fundinitRcsolusion-RTA Park and Ridc Land Purtbasc.doc Town or Valk).AriOrift)''S OTTitdGI/11515ps PURCHASE AGREEMENT This Agreement is made byand between OVERLAND VISTOSO LIMITED an Arizona limited partnership ("Seller") and the TOWN OF ORO PARTNERSHIP, LLP, ("Purchaser")VALLEY, an Arizona munici oration al cor with reference to the facts set forth p P below: A. The Seller is the owner of the real property described on the attached Exhibit A ("Property"). B. The Purchaser desires to purchase and the Seller desires to sell the Property and for and in consideration of the mutual covenants set forth herein the parties hereto agree as follows: 1. Agreement to Sell. The Seller hereby agrees to sell and the Purchaser hereby agrees to purchase the Property upon the terms and conditions set forth herein. g 2. Ri•ht of Ent and Feasibilit Period. The Purchaser and its engineers and agents t("Openingof have access to the Pro erty at reasonable times after execution of the Agreemen shallP Escrow") for the purpose of conducting, at the Purchaser's sole cost and expense,geological, soil, ins inspection,environmental tests,and other studies and surveys which drainage,engineering,building P the Purchaser,in its discretion,deems necessary to determine whether the Property is suitable for the Purchaser's contemplated use. The Purchaser shall thereafter restore the Property to the condition which existed priorto performing such tests and studies. Any entry by the Purchaser, or its engineers,employees,agents independent contractors,upon the Property shall be at the sole cost, P y or p risk of the Purchaser. The Purchaser hereby indemnifies and agrees to hold the Seller expense and harmless from and against anyand all loss,cost or expense(including reasorte4yie. ey's fees and in from anyentrybythe Purchaser,or any engineer,employee,agent,principal or expenses)resulting independent contractor of the Purchaser, upon the Property. The Purchaser shall have from the Escrow until 5:00 p.m.,June 11,2008 ("Feasibility Period")to review the title to the Opening of Property and to evaluate the feasibility of developing and constructing a park and ride facility upon the Property. In the event the Purchaser concludes in its sole discretion that the title is not satisfactory Property or that the Pro e is otherwise not suitable for its intended use,then the Purchaser may cancel this Agreement bynotifying the escrow agent in writing on or before the expiration ofthe so Y Feasibility Period,in which event this Agreement shall be null and void and the parties shall have no further rights hereunder(excepting the Seller's indemnity rights set forth above). 3. Purchase Price. The purchase price for the Property shall be the sum of Seven Hundred and Two Thousand, Six Hundred and Sixty Three Dollars ($702,663)payable in cash or certified funds at the time of closing. The closingshall take place on or before 2:00 p.m. on June 11, 2008. 4. Closing. Magnus Title/Lawyers Title(Vicki Title/La ers Etherton), 1 South Church,Suite 2040,Tucson,AZ 85701, shall act as escrow agent and the provisions of this Agreement shall constitute joint instructions to the escrow agent. Real property taxes and assessments shall be prorated in accordance with generally accepted accountingprinciples as of the date of closing. At the time of the closing,the Seller and the P Purchaser shall equally divide all escrow and closing fees charged by the escrow agent and the Purchaser shallp ay all recording fees. All tax prorations shall be final and shall be based upon the latest available tax information only. 5. Title. Following the execution hereof,the escrow agent shall provide to the Purchaser a Preliminary Title Report showing all matters of record affecting title to the Property. At the closing, the Seller shall convey the Property to the Purchaser by Special Warranty Deed upon the escrow agent's standard form free and clear of any mortgages, deeds of trust or other security agreements and subject to all matters of record, all matters provided for herein and all matters observable upon an inspection or accurate survey of the Property. In the event title is not in the condition required by the preceding sentence as of the closing, then the Purchaser as its exclusive remedies may either waive any objections to title and proceed with closing, or terminate this Agreement. Within a reasonable time after the closing,the Seller at the Sellers&Pet&Jhali furnish the Purchaser with a standard owner's policy of title insurance in the full amount of the purchase P rice for the Property showing the title to the Property vested in the Purchaser subject only to the .matters set forth above and the standard printed provisions of such title policy. 6. Representations and Warranties. The Purchaser acknowledges and agrees that except as expressly set forth in this Agreement or in any of the closing documents to be executed and p Y delivered bythe Seller as provided herein,neither the Seller nor its agents have made or will make any representation or warranty, express or implied, including without limitation any warranties of habitability,suitability and fitness for intended purpose or otherwise with respect to any aspect of the Y Property.ert . The Purchaser is purchasing the Property strictly in"AS IS"condition except as expressly set forth herein. The Purchaser accepts and agrees to bear all risks regarding all attributes and conditions, latent or otherwise of the Property. The Purchaser has made or will make prior to the closing hereunder its own inspection and investigation of the Property and surrounding area including,without limitation,its subsurface,soil,engineering and other conditions and requirements, whether there are any eminent domain or other public or quasi-public takings of the Property contemplated, and all zoning and regulatory matters pertaining to the Property. The Purchaser is • entering into this Agreement and purchasing the Property based only on the representations and warranties of the Seller expressly set forth in this Agreement or in any ofthe closing documents to be executed and delivered by the Seller as provided herein and otherwise upon the results of its own inspection and investigation and not in reliance on any statement, repros tl6 , d=en t or P agreement of the Seller except as specifically provided herein. The Purchaser agrees that neither the Seller nor anyone acting on behalf of the Seller has made any representation,covenant,guaranty or warranty whatsoever,whether written or oral,concerning the Property except as specifically set forth herein. Any engineering data, soils reports or other information that the Seller or any other party may have delivered to the Purchaser is furnished without any representation or warranty whatsoever. The Seller makes the following representations and warranties to the Purchaser with the understandingthat the Purchaser is relying thereon, which representations and warranties shall survive the closing and the execution and delivery of the deed: A. The Seller has not received any notice of any violation of any ordinance, • regulation, law or statute of any governmental agency pertaining to the Property or any 2 . portion thereof includingwithout limitation those pertaining to public Viand safety or public nuisance or menace and to the best of the Seller's actual knowledge without further ro investigation, the Property has not been used to manufacture, store or dispose of toxic or g P hazardous substances,materials,pollutants or waste covered by the Resource Conservation and RecoveryAct or the Comprehensive Environmental Response, Compensation and P Liability Act of 1980 as amended and reauthorized,and the Arizona Environmental Quality Act or other regulatory scheme pertaining to such matters. B. The Seller is and will be duly and legally authorized and permitted to enter into this Agreement and to carry out and perform all covenants to be formed by it hereunder. The Seller is notaarty to,or subject to or bound by an agreement with any person,or to the p best of the Seller's knowledge without further investigation, any judgment, order, writ, injunction or decree of any court or governmental body which could prevent or impair the(i) effect of the Seller's execution and delivery of this Agreement, or (ii) the Seller's performance hereunder, as contemplated herein. C. To the best of the Seller's knowledge without further investigation,there are no claims,actions,suits or other proceedings pending or threatened against the Seller which affect the Seller's right, title and interest in and to the Property. 7. Default. In the event of any default hereunder,then the nen-defmtung party shall be entitled to pursue any remedy available at law or in equity. 8. Access Easement and Utility Extension Agreement. Immediately prior to the closing andas part art of the consideration hereunder, the Access and Utility Easement Agreement attached hereto as Exhibit B shall be executed by the parties hereto and recorded to provide for access and utilityextensions required for land adjacent to the Property that is currently owned by the Seller. q 9. Broker Commissions. Each party hereto represents and warrants to the other that it has not employed any broker or finder in connection with the transaction contemplated by this Agreement. The Seller discloses that one or more of their respective principals are or have been licensed real estate brokers or sales persons. 10. Notices. Unless otherwise required by law,all notices required to be given hereunder shall be in writing and shall be conveyed by (i) personal delivery(including by any messenger or courier service (ii)the United States Postal Service by certified or registered mail,postage prepaid, with return receipt requested, or(iii) facsimile transmission, as follows: Seller: Overland Vistoso Limited Partnership c/o Bill Hallinan 3 567 East Sunrise, Ste. 219 Tucson, AZ 85718 Phone: (520)299-8424 Fax: (520) 5 77-23 91 3 Copy to: W. James Harrison, Esq. W. J. Harrison&Associates, P.C. 3561 East Sunrise Dr., Suite 201 Tucson, AZ 85718 Phone: (520) 529-3700 Fax: (520) 529-8977 Purchaser: Town of Oro Valley Jose Rodriguez 11000 North La Canada Oro Valley, AZ 85737 Phone: (520)229-4872 Fax: (520)229-4899 Email:jrodriguezorova1ley.net Escrow Agent: Vicki Etherton Magnus Title 2525 East Camelback Rd., Ste. 600 Phoenix,AZ 85016 Phone: (602) 748-2800 Fax: (602) 748-2710 Notice given by facsimile transmission shall be deemed to have been given upon receipt at the number listed above, notice given by personal delivery shall be deemed to have been given upon delivery to the appropriate address against receipt therefor(or upon refusal of acceptance),and notice given by U.S. mail shall be deemed to have been given two days after deposit in the U.S.Mail. Each party may designate from time to time, another address in place of the address set forth above by notifying the other parties in the same manner as provided in this paragraph, 11. Environmental Release. Except as to the breach of any express representation and warranty set forth herein,the Purchaser hereby waives,releases and discharges on behalf of itself and its successors and assigns any right,claim or cause of action that he has or may acquire against the Seller arising out of or related to the existence of any hazardous substances, waste, pollutants or contaminants in,on or about the Property. 12. Miscellaneous. In the event of litigation to enforce the terms of this Agreement,the prevailing party shall be entitled to receive its reasonable attorneys' fees and costs of suit. Time is hereby made of the essence of this Agreement. All covenants, agreements, representations and warranties set forth herein shall survive the closing and shall not merge into any deed or other document or instrument executed in connection with the closing. The Purchaser and the Seller hereby affirm that the Property is being purchased under the threat of condemnation. 4 The Purchaser shall not assign its rights or delegate its obligations hereunder without the express written consent of the Seller, which consent shall not be unreasonably withheld. Agreement has been arrived at The wording of this by negotiation between the parties, and in the event of any ambiguity,this Agreement shall not be construed in favor of or against any partyhereto on account of such party having prepared any draft or final version hereof. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their successors and assigns. Unless the form is attached hereto as an exhibit,all documents and instruments to be executed in connection with the closing of this transaction shall be upon forms customarily used by the escrow agent in transactions of a similar nature in Pima County, Arizona. This Agreement constitutes the entire agreement between the parties and the parties expressly acknowledge that there are no other agreements or understandings in regard to this P y g transaction other than as set forth herein or contained within other written agreements referred to herein. The Seller shall execute and deliver to the Purchaser at each closing an Affidavit as required byIRC Section 1445(b)(2) setting forth the Seller's taxpayer identification number, the Seller's's address and stating that it is not a foreign person for purposes of that section. e The waiver by any party hereto of any breach of any term, covenant or condition contained herein shall not be deemed to be a waiver of any subsequent breach of the same or any other term,condition or covenant contained herein. If the date for performance of any obligation hereunder or the last day of any time Period provided for herein shall fall on a Saturday, Sunday or legal holiday, then such date for performance or time period shall expire on the first day thereafter which is not a Saturday,Sunday or legal holiday. This Agreement shall be construed in accordance with the laws of the State of Arizona. In the event of any dispute hereunder,exclusive jurisdiction and venue shall exist only in Pima County, Arizona. Captions and headings as set forth herein are for reference purposes only and shall not be used in construing this Agreement. AGREED TO on the dates set forth below. 5 SELLER: OVERLAND VISTOSO LIMITED PARTNERSHIP,LLP, an Arizona limited liability partnership By: Ready Two Corporation, its general partner Its: (2 • Date: oa PURCHASER: TOWN OF ORO VALLEY, an Arizona municipal corporation ATTEST By: Date: WJHlai1022208\agccmentA375clean } tv -O'Al Acctmwri Olot • 6 EXHIBIT "A" (the Property) ALL OF THAT PORTION OF SECTION 29, TOWNSHIP 11 SOUTH, RANGE 14 EAST, G SRBM PEMA COUNTY, ARIZONA, BEING A PORTION OF THAT PAWERTY DESCRIBED[N DOCKET 10237 AT PAGE 2166,MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMAT NCING AT THE SOUTHEMMOST CORNER OF SAID PROPERTY DESCRIBED IN DOCKET 102317 AT PAGE 2166,B EINO A POINT ON A CURVE ON THE NORTH RIGHT- OFWAY OF RANCHO VISTOSO BOULEVARD,AS RECORDED IN DOCKET 7868 AT PAGE 1456,FROM WHICH THE RADIUS BEARS N 16°39'44"E; THENCE NORTHWESTERLY ALONG SAID RIGHT-OF-WAY,ALONG A CURVE TO THE RIGHT,WHICH HAS A RADIUS OF 1425.0 'FEETAND A.CENTRAL ANGLE OF 20°10'31", AN ARC LENGTH OF 501.78 F1ET TO THE TRUE POINT G11'BEGINNING; THENCE CONTINUING NORTHWESTERLY ALONG SAID RIGHT-OF-WAY, ALONG A CUW TO THE RIGHT WHICH HAS A RADIUS OF 1425.00 FEET AND A CENTRAL ANGLE OF 09° 09' 41", AN ARC LENGTH OF 227.85 FET TO THE SOUTHERNMOST CORNER OF THAT PROPERTY DESCRIBED IN DOCKET 12952 AT PAGE 1525; THENCE N 45°59'56"E,ALONG THE SOUTHEAST LINE OF S AID PROPERTY DESCRIBED [N DOCKET 12952 AT PAGE 7525,A DISTANCE OF 351.54 FEET TO THE EASTERNMOST CORNER OF SAID PROPERTY, ALSO BEING A POINT ON TILE SOUTHWEST LINE OF THAT PROPERTY DESCRIBED IN DOCKET 10617 AT PAGE 1897; THENCE S 50°04'13"E,ALONG SAID SOUTHWEST LINE,A DESTANCW QF,17 #9 FEW- TO -TO A POINT; THENCE S 3756" 07" W, A DISTANCE OF 355.70 FEET TO THE TRUE POINT OF BEGINNING. SAID PARCEL CONTAINING 72,200 SQ.FT.OR 1.65E ACRES. 214 • �# CM-.cm April 3,20 �•. it aurieldoc511280261To\tl Parcel.wpdN. Jam. •.. ,,.•Y ' Ciitt5 Page 1 of 1 ° 1 i I .EXHIBLT , THE PROPERTY 0,,, r 1� i ,,,,,4 oil- 0. r...A I ,r r ti• L ..r. q6r1P41...41 r 4r St �4 \r'''''''''''''''''''- 5� i N. \\,. 111\\, , a 1 as 1 ! \ TOWN PARCEL \ .N pi per) nil :'•• --T.P.O.B. r,� 4b ti i'ti rJEc RNaF OF PROPERTY 114 Dia. r1��,, 7, PG, fILORTH 2-. ef NAIL 1• - x1� DDWigENCEMENT 0 CONNEfrir OHO tagmeaitA uL zioe 111 OFW ENGINEERING, L.L.0. 3 wen i Ilhassa rriai3kind 1111111 E71-1181 T CIF T13PARCEL_ c ts... _ 1108 Nth C&2 --1(I2 VI • EXHIBIT"B" (Access Easement and Utility Extension Agreement) When recorded mail to: William Hallinan Cottonwood Properties 3567 East Sunrise Drive, Suite 219 Tucson, AZ 85718 ACCESS EASEMENT AND UTILITY EXTENSION AGREEMENT This AGREEMENT is made this day of ,2008 by Overland Vistoso Limited Partnership • , LLP, an Arizona limited liability partnership ("Overland")and the Town of Oro Valley, an Arizona municipal corporation ("Town"). RECITALS A. Whereas the Town has agreed to purchase from Overland the property described in Exhibit"1"hereto(the"Town Parcel")and Overland will retain ownership of the parcel described in Exhibit"2" hereto ("Retained Parcel"). Whereas Overland desires to establish for the current and future owners of the Retained B. Parcel, a perpetual easement for that portion of the Town Parcel described on the attached Exhibit p p "3"("Shared Access Easement Area")in order to allow for access to the Retained Parcel from the existing median break and curb cuts on Rancho Vistoso Boulevard. C. In order to minimize disruption to use of the Town Parcel and the expense associated with utilityextensions if done after the development of the Town Parcel,the parties hereto desire to providefor extension of sewer, water and gas, and conduit for electric, telephone, cable and other utilityfacilities within the Shared Access Easement Area (collectively"Utility Extensions"). In consideration of the foregoing, Overland and the Town hereby covenant and agree as follows: 1. Utility Easement. Overland herebyreserves to itself and ail future owners of the Retained Parcel,andg rants to all public utility companies and other providers,a perpetual easement andright offor the purpose of constructing,using,maintaining,operating,repairing,replacing, way PrP inspecting and anyand all sewer,water,gas,electrical,telephone,cable,and other utility removing facilities in, over,under,upon and across the Shared Access Easement Area. All such utility lines and cables shall be located underground. 7 - 2. Access Easement. Overland hereby reserves and establishes for the benefit of all current and future owners of the Retained Parcel and their tenants,guests, invitees and assignees a perpetual easementright and ofupon and across the Shared Access Easement Area for the way over, P purposes of pedestrian and vehicular access, ingress and egress, including constructing, using, maintaining, operating, repairing,re airireplacing, and inspecting a driveway across the Shared Access Easement Area. No present or future owner of all or any portion of the Shared Access Easement shallArea or placeany erect building or other structure within the Shared Access Easement Area nor allow any landscaping, fill, walls or fences that will interfere with the exercise of the rights granted hereunder. UtilityExtensions. In the event that the Town commences development on the Town 3' shall at its expense Parcel prior to construction of structures on the Retained Parcel, the Town construct the UtilityExtensions within the Shared Access Easement Area to the boundary of the Retained Parcel. g 4. Miscellaneous. This Agreement shall run with the land and be binding on the current and future owners of the Town Parcel. EXECUTED as of the date set forth above. OVERLAND VISTOSO LIMITED PARTNERSHIP, LLP, an Arizona limited liability partnership By: Ready Two Corporation, its general partner By: Its: TOWN OF ORO VALLEY, an Arizona municipal corporation By: Its: STATE OF ARIZONA ) ) s. COUNTY OF PIMA ) ACKNOWLEDGED before me this day of _ , 2008, bythe _of Ready Two Corporation. • Notary Public Notary Seal STATE OF ARIZONA ) ) ss. COUNTY OF PIMA ) ACKNOWLEDGED before me this day of , 2008, by ,the of the Town of Oro Valley. Notary Public Notary Seal EXHIBIT"1" TOww'N PARCEL LEGAL DESCRIPTION OM JOB NO. 08026402 ALL OF 'I'HAT PORTION OF SECTION 29, TOWNSHIP 11 SOUTH, AN 14 EAST, G&SRB •t PIMA COUNTY, ARIZONA, BEING A PORTION OF THAT PROPERTY DESCRIBED IBED IN DOCKET 10237 AT PAGE 2166,MORE PARTICULARLY DESCRIBED AS CI FOLLOWS: COMMENCING AT THE SOUTHERNMOST CORNER OF SAID PROPERTY DESCRIBED IN DOCKET 10237 AT PAGE 2166,BELNG A POINT ON A CURVE ON THE NORTH RIGHT- OF-WAY OF RANCIIO V'ISTOSO BOULEVARD,AS RECORDED IN DOCKET 7868 AT PAGE 14513, FROM WHICH THE RADIUS BEARS N 16° 39'44"E; THENCE NORTHWESTERLY ALONG SAID RIGHT-OF-WAY,ALONG A CURVE TO THE RIGHT,WHICH HAS A RADIUS OF 1425.00 FEET AND A CENTRAL ANGLE OF 20"10'31", AN ARC LENGTI[OF 501.78 FEET TO THE TRUE POINT OF BEGINNING; THENCE CONTINUING NORTHWF,STER.LY ALONG SAID RIGHT-OF-WAY, ALONG A CURVE TO 'DIE RIGHT, WHICH HAS A RADIUS OF 1425.00 FEET AND A CENTRA.. ANGLE OF 09° 09` 41", AN ARC LI NGTI 1 OF 227.85 FEET TO THE SOUTHERNMOST CORNER OF THAT PROPERTY DESCRIBED IN DOCKET 12952 AT PAGE 7525; THENCE N 45°59'56"E,ALONG THE SOUTHEAST LINE OF SAID PROPERTY DESCRIBED IN DOCKET 12952 AT PAGE 7525,A DISTANCE OF 351.54 FEET TO THE EASTERNMOST CORNER OF SAID PROPERTY, ALSO BEING A POINT ON THE SOUTHWEST LINE OF THAT PROPERTY DESCRIBED IN DOCK FT 10617 AT PAGE 1897; THENCE S 50"04' 13"E,ALONG SAID SOUTHWEST LINE,A DISTANCE OF 177.99 FEET TO A POINT; THENCE S 37° 56' 07" W, A DISTANCE OF 355.70 FEET TO THE TRUE POINT OF BEGINNING. SAID PARCEL CONTAINING 72,200 SQ. FT. OR 1.658 ACRES. • 7 28 ' ' CM:cm ! CfflUS E. �. April 3,2008 .. j \Lauric\iloc5 I'28026\Tovrii Parcel.wpd 114i ' , Page 1 of I or 05 1 if F EXHIBIT 1 i ,,,,i viii. ,59 1:0- vcre H ...,,,,,,,),,,og. v, , \O. • • T • ., :kasf:9 • '.�•'T t, . 16C' AA% '6 N. ...,,,...e NN. t i+ G.. 7 Zi W qi TOS PARCEL N 4 \ \ I II (RE T�i>�ED NI P el‘ pfiRiaa) db --.---T.P_O.B. 431-\\ � It ` +•* • • 41) SCUTI-ERN - KIST OWNER OF PROPERTY �' sii\ Iii DKT. It07, PG. :ri �Be NORTH 2r. e WALE; 1' �lODwhNCO* JT 0e-r CPM LIC ti OPW ENGINEERING, L.L.C. 3 :u.ra�.n.,r�cs����.cera--�ner.�:��c-s�r<us�a�•.... -- - .. : - Saar i,lbripub Waal Or 1IBIT OF TOWN MOMVIIIl51 w JOB NO. c 1D211 -4 a2 ; EXHIBIT" RETAINED PARCEL LEGAL DESCRIPTION OPW JOB NO.08026-102 1' .,L QF THAT PORTION OF SECTION 29, TOWNSHIP IP 11 SOUTH, RANGE 14 EAST, G&SRBM, PIMA COUNTY, ARIZONA, BEING A PORTION OF THAT PROPERTY DESCRIBED IN DOCKET 10237 AT PAGE 2166, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHERNMOST CORNER OF SAID PROPERTY DESCRIBED IN DOCKET 10237 AT PAGE 2166,BEING A POINT ON A CURVE ON THE NORTH RIGHT-OF- WAY OF RANCHO VISTOSO BOULEVARD,AS RECORDED LN DOCKET 7868 AT PAGE 1456,FROM WHICH THE RADIUS BEARS N 16°39'44" C; THENCE NORTIi\V STEW.ALONG SAID RIGHT-OF-WAY, ALONG A CURVE TO THE RIGHT,WHICH HAS A RADIUS OF 1425.00 FEET AND A CENTRAL ANGLE OF 20° 10'31", AN ARC I.F.NGTH OF 501.78 FEET TO A POINT: THENCE N 37°56'07"E,A DISTANCE OF 355.70 FEET TO A POINT ON THE SOUTHWEST LINE OF THAT PROPERTY DESCRIBED IN DOCKET 10617 AT PAGE 1897; THENCE S 50°04' 13"L.ALONG SAID SOUTHWEST LINE,A DISTANCE OF 394.51 FEET TO A POINT ON THE EAST LINE OF SAID PROPERTY DESCRIBED IN DOCKET 10231 AT PAGE 2166; THENCE S 16G 39'44"W,ALONG THE EAST LINE OF SAS PROPERTY,A DISTANCE OF 263.06 FEE] TO THE'!'itUE POINT OF BEGINNING. SAID PARCEL CONTAINING 142,100 SQ. FT.OR 3.262 ACMES. ;,.44147 • �1 r•y� J i V '�y ! CItflSE. MASON • • Nklied*41• "IV "" •1 C M:c rn April 3,2008 latuieLl c51`28026\Retained Parcel.wpd PML:1 o1` I EXH1PT ir`i F04 4� .. ' . ip. Igi- ,., ogt- ob. e-- to' se egr . t• r Fft? 16C1IP...i L .....• -NO*- r ,,,,,,.,,,,,,:eee,,,,,,,„ 1/4, ,,,,N 'L \_ 'i\s, / N _ N . CL 1 +/ 1 / CAt pVACEL) .. / a ill P allit>. HEIANED ai • PARCEL. It r.,.% ti 44..* T,P.O.a, SUu1�EN- �' i\ sT SER CF PRCPERTY .'-' PORTHiNetY27,.OWL 1 PG. , WAL : 1" .,151)1 as el COPINIEHT CP 10 ENICEERtlik ties OFW_FNGINEERING, L.L.C. I r! wn.i Ticacpub rriLl 3=5 pinMUTT OF NES' MED PARCEL e�... -s r JOB Nil CONS-11:12 qiiii E MMI I'j N3" SHARED ACCESS EASEMENT AREA LEGAL DESCRIPTION OPW JOB NO. 08026-102 ALL OF THAT PORTION OF SECTION 29. TOWNSHIP 11 SOUTH, RANGE 14 EAST, G&SRBM, PIMA COUNTY, ARIZONA, BEING A PORTION OF THAT PROPERTY DESCRIBED IN DOCKET 10237 AT PAGE 2)06,MORE PARTICULARLY DESCRIBED AS FOLLOWS; COMMENCING AT THE SOUTHERNMOST CORNER OF SAID PROPERTY DESCRIBED IN DOCKET 10237 AT PAGE 2166,BUNG A POINT ON A CURVE ON'TIE NORTH RIGHT- OF-WAY OF RANCHO VISTOSO BOULEVA RD,AS RECORDED IN DOCKET 7868 AT PAGE 1456, FROM WHICH THE RADIUS BEARS N 16"39'44" E; THENCE NORTHWESTERLY ALONG SAID RIG]IT-OF-WAY, ALONG A CURVE TO THE RIGHT,WHICH HAS A RADIUS OF 1425.0)0 FEET ANDA CENTRAL ANGLE OF 20° 10'31", AN ARC LENGTH OF 501.78 FEET TO THE TRUE POINT OF BEGINNING; THENCE CONTINUING NORTH WESTER I.Y ALONG.ONG SAID RIGHT-OF-WAY, ALONG A CURVE TO THE RIGHT, WHICH HAS A RADIUS OF 1425-00 FEET AND A CENTRAL ANGLE OF 03'35'43",AN ARC LENGTH OF S9,42 FEET TO A POINT; THENCE N 37' 56'07" F,A DISTANCE ANCE OF S3.92 FEET TO A POINT; THENCE S 52'03' 53" F.A DISTANCE OF 89.40 FEET TO A POINT; THENCE S 3; 56' 07" W, A DISTANCE OF 85.02 FEET TO THE TRUE POINT OF BEGINNING, #4Tifir .; ;;;.\ 26928 •A cRm$ E. MQRRISON #.••,;.'..,146,7.10k,.Ape? • f5x roy/ln CM:cm April 18,2008 \\Lauric\\doc51,280261\Sharcd Acccss Easement Atica.wpd t ,_ ........___________ _________ EXHIBIT "3" .. ,,.\\-i QG. ca9 // l g, - i , tii,,,-c• off, / o& ,,6- / = / c e `� a� r 7./ / . �� ' •� / f Com / g; , ..,/' -- 2,•' ,1•s's°/ / / ./ ,-.,, / / / _ / / � ,' 1. / /�/ / \ / f -/ DK T. 10617, / /'� j,/. / � ,/' PG. 1897 / \-, \ \\.. \ ./' / / / // / , . ,r / / / ' / ,,- 7 \ \ DK T_ 12952, •\ ''... , / / , PG. 7525 \ / rf .5 ` l�\ / •/i ', L � / „ , // / , /' \ \ ,/ / /4, / / ,/' cc:4 -y. . \ ' .. . / / f 7/ /Q d TOWN !/ i 1--i, 12,3, \ PARCEL) ' / ,/ 03 (9 0 / '0 <9 1.111"1 ' �s il,, Ori�i�rrr i. - SHARED �srrar ACCESS m �'� ��wiir RETAINED Q. EASEMENT 0. { PARCEL) AREA st: \ . SOUTHERN—, `\ MOST CORNER T.P.o.�. �, OF PROPERTY v .\ IN OKI '�cii \ 10237, PG. !\ 2168 ° NORTH --� POINT OF . SCALE: 1" =150' -...,_--- eitiMMENCEMEN T o co 0 ©COPYRJGNT QPW ENGINEERING, LEC 2008 ul .$) OPW ENGINEERING, L.L.C. C ' 7 000 E. Tanque Yerd.e 'toad /37 EXHI3 T OF SN AREO ACCESS Tumors. Armon. 46716 EASEMENT AREA OP1U r Pb.one (620) $86-841e ii OPW X08 NO. 080267-102 r F. ANN RODRIGUEZ, RECORDER RECEIPT OF RECORDING F. ANN RODRIGUE Z, RECORDER DOCKET: 13326 E RECORDED BY: MR13 PAGE: 103 A DEPUTY RECORDER °4znZq NO. OF PAGES: 2 S 1562 PE2 SEQUENCE: 20081140048 T TLATI _..� M 06/12/2008 •• =� o. � S LAWYERS TI TLE z� 'q WTDEED 10:01 I PICK UP 4101414 D PICKUP E AMOUNT PAID $ 9.00 F 0 BLAND VISTOSO LIMITED PARTNERSHIP ND CONVERSION FEE $ 4.00 T ORO VALLEY TOWN OF ND 2 PAGES $ 5.00 O AFFIDAVITS 2.00 EACH $ 0.00 O COPIES 1.00 EACH $ 0.00 O POSTAGE 1.00 EACH $ 0.00 WARRANTY DEED TOTAL $ 9.00 CASH $ 9.00 AMOUNT DUE $ 0.00 AMOUNT OVER $ 0.00 Pima County Recorder, P.O. Box 3145, Tucson, AZ 85702-3145, (520) 740-4350 RECORDING REQUESTED BY MAGNUS TITLE AGENCY,a division of Magnus Title Agency AND WHEN RECORDED MAIL TO; VICKI ETHERTON MAGNUS TITLE AGENCY 2525 E. CAMELBACK RD., SUITE 600 • PHOENIX,AZ 85016 ESCROW NO.: 02-02024379-711-VE SPACE ABOVE THIS LINE FOR RECORDER'S USE Exempt ARS 11-1134 A3 Special Warranty Deed For the consideration of Ten Dollars, and other valuable considerations, the undersigned Overland Vistoso Limited Partnership, LLP, an Arizona limited partnership ("Grantor") conveys to Town of Oro Valley,an Arizona municipal corporation ("Grantee"),the following described property situated in the County of Pima, State of Arizona, together with all appurtenant benefits, rights and privileges (collectively, the "Property"): SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF. Subject to all matters of record in the official Records of Pima County, Arizona and all those matters observable upon an inspection or survey of the Property, Grantor binds itself and its successors to warrant and defend the title to the Property solely against all acts of Grantor and of no other. Dated this /1 day of June,2008. Overland Vistoso Limited Partnership,LLP an Arizona limited liability partnership By: Ready Two Corporation, an Arizona corporation Its: General Partner Y� Its: Y' - STATE OF ARIZONA COUNTY OF PIMA This instrument was acknowledged before me this !/ day of June,2008 by flair;. as Authorized Signatory of Ready Two Corporation, general partner of Overland Vistoso Limited Partnership, LLP �.-y, "' ission expires: :- .. �' ' �► NotaryiZONA Public —1-•••• .•-.• .r. �:. • _. . *j NTY PLATN p >. ::�fl.7,2010 is i1 _ . EXHIBIT "A" All that portion of Section 29, Township 11 South, Range 14 East, Gila and Salt River Base and Meridian, Pima County, Arizona, being a portion of that property described in Docket 10237 at page 2166, more particularly described as follows: COMMENCING at the Southernmost corner of said property described in Docket 10237 at page 2166, being a point on a curve on the North right-of-way of Rancho Vistoso Boulevard, as recorded in Docket 7868 at page 1456, from which the radius bears North 16 degrees 39 minutes 44 seconds East; THENCE Northwesterly along said right-of-way, along a curve to the right, which has a radius of 1425.00 feet and a central angle of 20 degrees 10 .minutes 31 seconds, an arc length of 501.78 feet to the TRUE POINT OF BEGINNING; THENCE continuing Northwesterly along said right-of-way, along a curve to the right, which has a radius of 1425.00 feet and a central angle of 09 degrees 09 minutes 41 seconds, an arc length of 227.85 feet to the Southernmost corner of that property described in Docket 12952 at page 7525; THENCE North 45 degrees 59 minutes 56 seconds East, along the Southeast line of said property described in Docket 12952 at page 7525, a distance of 351.54 feet to the Easternmost corner of said property, also being a point on the Southwest line of that property described in Docket 10617 at page 1897; THENCE South 50 degrees 04 minutes 13 seconds East, along said Southwest line, a distance of 177.99 feet to a point; THENCE South 37 degrees 56 minutes 07 seconds West, a distance of 355.70 feet to the TRUE POINT OF BEGINNING. • PL M]NLTR k0 if) 000taoH o 00000 0000 N 0 'l. © 0 0 0 0 0 0 0 0 0 0 0 t'') H 0 0 -. rq O N 0 N d' 0 0 0 0 N N O O H 11 r-1 H H rl t\I H r-i CO 0 k0 i1} <!} <!} V} 4.0. 41} t1} V} U} 41)- 0 0 N V U V a QLo A 4 N co - O H W W W A O I a G� a0 0 0 H F-+ 0 W El W Z F-+ g H N H H E-+ 0 0 O ta! O N 6 z ci) i_3NU o +4 O w , H O 0 H u} CC APZCO D4 al U) > w 'a' LLQ • � tngw � i n N CC 0 w a V O 0Z - (P� ��', oowivoa° ti UG1ifiC-11:P 0° CO 0 0 0 11J CC CC a a�N V' 044, LU cc 0 - . � � s gay � w , Q W CI C3 4. "' w ial o CC W w ri m Z0 H12 o N 5 F.,,, LT) N x a) H <I) H a .Z' O N E+ 0 H H U El E U z Cli 0 0 d w a• d �+ x O H 4 H u) c H Q+ H H • H r. • H H II al Z N w g u} H u? H Q w O W 44 H 41 When recorded mail to: William Hallinan Cottonwood Properties 3 567 East Sunrise Drive, Suite 219 Tucson, AZ 85 718 ACCESS EASEMENT AND UTILITY EXTENSION AGREEMENT ismade this 1/ dayof JiIII C ,2008 by Overland Vistoso This AGREEMENT Limited Partnership, LLP, an Arizona limited liability partnership ("Overland") and the Town of Oro Valley, an Arizona municipal corporation("Town"). RECITALS A. Whereas the Town has agreed to purchase from Overland the property described in Exhibit"I"hereto(the"Town Parcel")and Overland will retain ownership of the parcel described in Exhibit"2" hereto ("Retained Parcel"). B. Whereas Overland desires to establish for the current and future owners of the Retained Parcel, a perpetual easement for that portion of the Town Parcel described on the attached Exhibit "3"("Shared Access Easement Area") in order to allow for access to the Retained Parcel from the existing median break and curb cuts on Rancho Vistoso Boulevard. C. In order to minimize disruption to use of the Town Parcel and the expense associated with utility extensions if done after the development of the Town Parcel,the parties hereto desire to provide for extension of sewer, water and gas, and conduit for electric, telephone,cable and other utility facilities within the Shared Access Easement Area (collectively"Utility Extensions"). In consideration of the foregoing, Overland and the Town hereby covenant and agree as follows: 1. Utility Easement. Overland hereby reserves to itself and all future owners of the Retained Parcel,and grants to all public utility companies and other providers,a perpetual easement and right ofthe purpose of constructing,using,maintaining,operating,repairing,replacing, g way for P rP inspecting and removing any and all sewer,water,gas,electrical,telephone,cable,and other utility facilities in,over,under,upon and across the Shared Access Easement Area. All such utility lines and cables shall be located underground. 2. Access Easement. Overland herebyreserves and establishes for the benefit of all _ current and future owners of the Retained Parcel and their tenants, guests, invitees and assignees a easement and right ofupon and across the Shared Access Easement Area for the perpetualway g over, purposes of pedestrian and vehicular access, ingress and egress, including constructing, using, maintaining, operating, repairing, replacing, and inspecting a driveway across the Shared Access 2. Access Easement. Overland hereby reserves and establishes for the benefit of all current and future owners of the Retained Parcel and their tenants,guests,invitees and assignees a perpetual easement and right of way over,upon and across the Shared Access Easement Area for the purposespedestrian and vehicular access, ingress and egress, including constructing, using, of maintaining, operating, repairing, replacing, and inspecting a driveway across the Shared Access � Easement Area. No present or future owner of all or any portion of the Shared Access Easement Area shall erect orp lace any building or other structure within the Shared Access Easement Area nor allow any landscaping,ifill,walls or fences that will interfere with the exercise of the rights granted �� hereunder. 3. Utility Extensions. In the event that the Town commences development on the Town ParcelP rior to construction of structures on the Retained Parcel, the Torn shall at its expense construct the Utility Extensions within the Shared Access Easement Area to the boundary of the Retained Parcel. 4. Miscellaneous. This Agreement shall run with the land and be binding on the current and future owners of the Town Parcel. EXECUTED as of the date set forth above. OVERLAND VISTOSO LIMITED PARTNERSHIP, LLP,an Arizona limited liability partnership By: Ready Two Corporation, its general partner Its:________11_/ . TOWN OF ORO VALLEY, an Arizona municipa corporation II Grp 44 $Y: NNW' Ifs: 4�Q,!� '�4t d �Losc� - AADrotiNrl ;( op r� z.....::: STATE OF ARIZONA ) s. litti-zAej'W.- D i fra T n C-11'1— . � �r COUNTY OF PIMA ) (-Co-08 ACKNOWLEDGED before me this i ii4k day of L)oma-- , 2008., by IN Jorne-s Ofool s the V P of Ready Two Corporation. OFFICIAL SEAL Aiiii.4., ANGEL.FOSS ��-... ��y�� � QTY �i c1r1. My COMM. Exp. Sept.7,2010 i i EXJIIBI'I' TOWN PARCEL I.. •CAL DESCRIPTION O PW J O B NO. 08026-102 ALL OF THAT PORTION OF SECTION 29, TOWNSHIP 11 SOUTH, RANGE 14 EAST, G&SRF3M, PIMA COUNTY, ARIZONA, BUNG A PORTION OF THAT PROPERTY DESCRIBED IN DOCKET 10237 AT PAGE 2166, MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING Al ME SOUTI1ERNMOST CORNER OF SAW PROPERTY DESCRIBED IN DOCKET 10237 AT PAGE 216C.13LING A POINT ON A CURVE ON THE NORTH RIGHT- • OF-WAY OF R ANC110 V 151OSO BOULEVARD,AS RECORDED IN DOCKET 7568 AT PAGE 1456, FROM WI UCH THE RADIUS BEARS N i 6" 9'4.4-E; THENCE Nowa-i WESTERLY ALONG SAID RIG 11T-OF-WA Y, AALONG A CURVE TO THE RICH'',WHICH HAS A RAMIS OF 1425.00 FEET AND A CENTRAL ANGLE OF 20' 10'31", AN ARC LENGTH OF 501.78 FEET TO THE TRUE PO/NT OF BEGINNI N(.Y; THENCE CONTINUING NORTHWESTERLY ALONG SAIL) RIGHT-OF-WAY, ALONG A CURVE TO THE RIGHT. MUCH HAS A RADIUS OF 1425.00 FEET AND A CENTRAL ANGLE OF 090 09' 41", AN ARC L ENGTI 1 (_)f 7.S5 FEET TO THE SOUTHERNMOST COMER OF THAT PROPERTY DF.SCRIBEE) IN DOCKf::T DOCK:: 12952 AT PAGE 7525; THENCE N45"59'56"E,ALONG THE SOUTHEAST LINE OF SAID PROPERTY DESCRIBED IN DOCKET 12952 AT PAGE 7525, A DISTANCE OF 351.54 FEET TO THE EASTER MOST CORNER OF SAIL) PROPERTY, ALSO BEING A POINT ON THE SOUTHWEST LINE OF THAT PROPERTY DESCRIBED IN DOCKET 10617 AT PAGE 1897; THENCE S 50; 04' 11' F. ALONG SAID SOUTHWEST I_I:NE, A DISTANCE OF 177.99 FEET TO A POTNT; THENCE S 37" 56' 07" W, A DISTANCE OF 355.70 FEET TO 11t. 'TRUE POINT Or BEGINNING. SAID PARCEL CONTA[NING 72,200 SQ. El. OR 1. 658 ACRES. CM:cm C1 9t3 E. April 3,2008 LUOf 1$O ' \'Lauri5 i In02fVFowii Parccl.wtil X41;i4 C-41t15 Page 1 o I I li /f EXHIBIT • , fr%%1 l'il• 5.4 . ,olsih .0,..1 O.' vzei. ti*'4`. qi.:'' tc50? ,..-i ,,,,,,,,,,,,,,,, ,,,irof i • .T. ,*riy.,-- .,4iss'' , ww. - -,ti ..,,,,.,,,,, _,,,, , . ., ,, , , ... 1\ _ _ . CL 7 4 CIJC ! N%4 TOWN N PARCEL 4 \,,,,, / -q 41,4:16 1.4 (RETAINEDNI t -i per) cu .; .".--T.P.C_B. t %& 4b 44A / Nee ,4413 I SC:Mil-ERN— I W18T C NE -vIN' OF PROPERTY ici\F\ [fi On 10237, PG. -Le' NORTH 21 ER Willa.; 1' -1 ‘,.., N FT. Cf DOW ENCEMENT CLCOP IN-ft cep aE? la, =2iloa i OP W ENGINEERING, L 3 MP 1 too&relax a Male BialEXHIBIT OF TOWN P� . o tazIsoloahs i_-#+NCPW X08 Na C 3D2B--102 .• 1 EXHIBIT"2" RETAINED PARCEL LE:GA1.DESC:REPTION OPVC'JOB NO.08026-102 ALL OF THAT PORTION OF SECTION 29, TOWNSHIP 11 sOtTri[, RANGE 14 EAST, .S • . COUNTY, ARIZONA, BEING A PORTION OF THAT PROPS C1� RI3Iw1. PIMA _ DESCRIBED N DOCKET 10237AT 1 AGE 2166, MORE PART!CIJI.ARI"Y DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHERNMOST CORNER OF SAID PROPERTY DESCRIBED IN DOCKET 10237 AT PAGE 2166,BEING A POINT ONE A CI"fZVE ON THE NORTH RICHT-OF- WAY OF RANCHO viS FSO BOULEVARD,AS RECORDED IN DOCKET 7868 AT PAGE 1456,FRON1 WHICH THE RADIUS BEARS N t 399'44' F; THENCE NORTH W ESTERI.Y ALONG SAID RIGHT-OF.wAY,ALONG A CURVE Ta O TH.B MITT,WHICH HAS A RADIUS OF 1425.00 l�EET ANDA CENTRAL ANGLE OF 0 10 31 AN ARC LENGTH OF 501.78 FEET To A POINT; THENCE • N 37"56'07"1:,A DISTANCE OF 355.70 FEET TO A PMT N ON THE SOUTHWEST LINE OF THAT PROPERTY DESCRIBED IN DOCKET 10617 AT PAGE 189 7; -- .� DIS'YAWL OF 3��.31 FEET THENCE S 50'04 13" i.ALONG SAID SOl J '1"1 WF T 1.1.�1 h, POINT THE EAST LINE OF SAID PROPERTY DESCRIBED IN DOCKET 10237 AT 'i'c�l�l UIN�1•cjN PAGE 2166, THENCE S 1t�� �9 - 4"��� ALONG THE EAST LINE OF SAID PROPERTY',A'_DISTANCE OF � -1 263.06 FEET TO THE TRUE POINT OF BEGINNING. I" SAIF)PARCE1.CONTAINING 142,1000 SQ. F"1.OR 3.202 ACRES. • ,7.41""4 , ,ri 26925 . C!i1113 E. `' �• IORRlSOti `.• /f.41 • . 1 A 0 ri.." • , C.M:Lin April 3,2038 L28026\Retaine'J Parcel.vpd Page I of I ..................._,............._......_..........., EXHIBIT "2 vici- '<a . ova, vir_i crii-''' itplaii ..:,,,,,,,t,,,,,,,,,K4- izi4: ,,50' voiL- • .."'ir ::$1:f i.! ,prc.7,,,,,,,,ced„,,,,,,,,6453 % . • - Nk'-'` i\\\\ ;\,,, / \ ' arc CL 1 as 4 / . .1 galtefl I / PARCEL) . \ / 4 ! 1 . ,% / . 1 4°'N - RETAINED , . 1 a",i2' oN PARCEL a . 1TsrCtteiz- 1,- .. . . Ned ,4% T,P.O.B. . 1 MATH MQ 'T IRER WALL 1' 15-0' ,,,,,_ N10237, PO_ 216a 0crCe rEMCEE/NA -i OPW ENGTNEER[NG, L.L.C. 3 R�:N�.V-:L•tr.�i•R+l.•�v'1+La'yr'�7w'•.7�.<+y=v�1�.:.-.a.t.:.1'i:t.;✓i..f."�u J7R.r.r'�w.���lt'�i�'[f'��:...�G::IriJ. ��_ -___ _spy rt. -....�,�.�..�..��...rYs WIIII i Tamcpah 1.1.14 - PM EXHIBIT OF RETIMED PARCEL gill `a 2.141,—. JIM% Miesiii-iik {Pig JOB Nil C8 lit-1 Q 2 i 1 EXHIBIT—3" SHARED .ACCESS EASEMENT AREA LEGAL DESCRIPTION OPW JOB NO. 08026-102 ALL OF THAT PORTION OF SECTION 20. TOWNSHIP I I SOUTH, RANGE til EAST. G&SR1.3h1. PIMA COUN•I'Y, ARIZONA, DE NG A PORTION OF THAT PROP RTY DESC I IBf:I) IN DOCKET 10237 AT PAGE 2106, MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHERN-MOST CORNER OF SAID PROPERTY DESCRIBED LN DOCKET 10237 AT PAGE 216ti,BUNG A POINT ON A CUR EON THE NORTH RIGHT- OF-N ICGHT- OF-N AY OF'RANCHO V ISTOSOIIOC iLEVAR D,AS RECORDED IN DOCKET 7868 AT PAGE 1456, FROM WHICH THE RADIUS BEARS N 16" 39'44" E; THENCE NORTHWESTERLY ALONG SAID RIGI IT-OF-WAY, ALONG A CURVE TO THE RIG i-IT.WHICH HAS A RAD fS OF 1425.W)FEET AND A CENTRAL.A NCiI:F.OF 200 10'31", AN ARC.LENGTH OF 501.78 FEET TO THE TRUE poi NT OF BEGINNING; THENCE ENCE CONTINUING NORTHWESTER I X ALONG SAID RIGHT-OF-WAY, ALONG CUIZ\ L: TO THE RIGhIT, WHICH HAS A RADIUS OF 1425.00 FEb F AND A CENTRAI. ANGLE E OF 0.3'35' 43'4, AN ARC LENGTH OF S9.42 FEET TO A POINT; THENCE N 3 56'07" E,A D TSTA N C I= OF S3,92 FEET.10 A POINT; THENCE S 52'03' 53" E.A DISTANCE OF 89.40 FEET TO A POINT; THENCE S 37° 56' 07" A DISTANCE OF 55..02 FEET TO THE '('IRIE POINT OF BEGINNING, /44 .,14• r ' • i '•': 20928 • Citfitti E MORR( . 1 SON 1.7S •,, ,,2, • i \*#;;;'. - tio CM:ani April 18, 2008 t.Lauriedoc5l'.28026\\Sharcd Acccss Easement Arca.wpd . , . EXHIBIT "3" :: Q �r ,G' 9 ise -.--; .4;.#,5, ?G' / .2' ' oc-_,-.---,...s. - ..,.-•• ii ,/- ok ...- ,;>. ., ,.. / ., / ., „ • cis ------"\-ic- ../ . , ,,,- 0--- ' o' • , ,,, �•C''� fl0 0‘)`1%. 6\' G - 059-,•-'c)-N 0 ,•. , _ 4,5 ' �,..•- ,. ,- %" . CKT. 10617,'•� r:• �,/� •\ '• O PG. 1897 ;'' • ` \ '� i 7 \\ DK T_ 12952, . , PG. 7525 • ' i77.: i /, " � % ", ' '/ Q (TOWN /I), PARCEL) /'f ,/ f 43 (SI o0.... '.C5)15,'OtS‘ .... .. . / �� SHARED /` �' .-94 11 II ACCESS (RETAINED co 111111111/ EASEMENT R E "i: N / AREA ,/ vi t SOUTHERN-- 1 ' - MOST CORNER 4 T.P.0.8.----/ OF PROPERTY IN OKT_ . ^a 10237, PG. t - _ 2166 L, NOT `•-�, POIN T OF ND SCALE: 1" =150' �--�__ COMMENCEMENT cvO D� 0 to 0 CCPYRIGHT CPW ENGINEERING, LLC 2008 a OPW ENGINEERING, L. -,,, U 1000 E. Titique Ytrdd /toad #37 E Xt 01 T OF SHARED ACCESS Tucson. £d oa. MI5F ASE?SENT AREA opui 0 Phase (620) 198-6614 QPW JOB NO, 08026-102 .- _ FIRPTA I.R.C. 1445 CERTIFICATION NON-FOREIGN STATUS BY CORPORATION, LLC, PARTNERSHIP, TRUST OR ESTATE Escrow No: 02024379 Section 1445 of the Internal Revenue Code provides that transferee (Buyer) of a U. S. real property interest must withhold tax if the transferor (Seller) is a foreign person. For U. S. tax purposes (including Section 1445), the owner of a disregarded entity (which has legal title to a U. S. real property interest under local law) will be the transferor of the property and not the disregarded entity. To inform the Buyer that the withholding of tax is not required on the disposition of the above described U. S. real property interest, the undersigned hereby certifies the following on behalf of the Transferor in the above referenced escrow: 1. Transferor is not a foreign corporation, foreign partnership, foreign trust, or foreign estate (as those terms are defined in the Internal Revenue Code and Income Tax Regulations); 2. Transferor is not a disregarded entity as defined in § 1.1445-2(b) (2) (iii); 3. Transferor's U. S. employer identification number is 86-0712421; and 4. Transferor's office address is: 3567 E. Sunrise Dr. #219, Tucson, AZ 85718 Transferor understands that this certification may be disclosed to the Internal Revenue Service by transferee and that any false statement contained herein could be punished by fine, imprisonment, or both. Under penalties of perjury I declare that I have examined this certification and to the best of my knowledge and belief it is true, correct and complete, and I further declare that I have authority to sign this document on behalf of the Transferor. Date: June 11,2008 Overland Vistoso Limited Partnership, LLP an Arizona limited liability partnership By: Ready Two Corporation, an Arizona corporation Its: General Partner By: `ets‘,1 Its: 0/9 Firpta corp.doc LANDAIVIERICA PRIVACY POLICY NOTICE Dear LandAmerica Customer: The Financial Services Modernization Act recently enacted by Congress has brought many changes to the financial services industry, which includes insurance companies and their agents. One of the changes is that we are now required to explain to our customers the ways in which we collect and use customer information. The statement attached to or on the reverse side of this letter is the privacy policy of the LandAmerica family of companies. The three largest members of the family - Commonwealth Land Title Insurance Company, Lawyers Title Insurance Corporation, and Transnation Title Insurance Company -- may issue policies and handle real estate closings in virtually every part of the country. A number of other companies in the family provide other real estate services, and some operate more locally. You may review a list of LandAmerica companies on our website (www.landam.com). You may also visit our website for an explanation of our privacy practices relating to electronic communication. Our concern with the protection of your information has been a part of our business since 1876, when the company that is now Commonwealth Land Title Insurance Company issued its first policy. We will continue to protect the privacy, accuracy, and security of customer information given to us. No response to this notice is required, but if you have questions, please write to us: LandAmerica Privacy P.O. Box 27567 Richmond, VA 23261-7567. LandAmerica Companies Title Insurance Companies: Commonwealth Land Title Insurance Company, Commonwealth Land Title Insurance Company of New Jersey, Industrial Valley Title Insurance Company, Land Title Insurance Company. Lawyers Title Insurance Corporation, Title Insurance Company of America, Transnation Title Insurance Company, Transnation Title Insurance Company of New York Relocation and Mortgages: Commonwealth Relocation Services, CRS Financial Services, Inc., LandAmerica Account Servicing, Inc. Title Agents: Austin Title Company, ATACO, Inc., Albuquerque Title Company, Atlantic Title & Abstract Company, Brighton Title Services Company, Capitol City Title Services, Inc., CFS Title Insurance Agency, Charleston Title Agency; Charter Title Company of Fort Bend, Galveston, and Sugarland; Commercial Settlements, Inc., Commonwealth Land Title Company; Commonwealth Land Title Company of Austin, Dallas, Fort Worth, Houston, Washington, Congress Abstract Corp., Cornerstone Residential Title, Cumberland Title Company, First Title & Escrow, Inc., Gulf Atlantic, Harbour Title, HL Title Agency, Lawyers Title Company; Lawyers Title of Arizona, El Paso, Galveston, Nevada, Pueblo, San Antonio, Lawyers Title Settlement Company, Lion Abstract, Longworth Insured, Louisville Title Agency of Central Ohio, Lorain County Title Company, M/I Title Agency, NIA/ Lawyers Title Agency, Oregon Title, Park Title, Partners Title Company, Pikes Peak Title Services, RE/Affirm Title Agency, Rainier Title Company, Residential Abstract, Residential Title, Rio Rancho Title, Texas Title Company, Title Transfer Service, Inc., TransOhio Residential Title Agency, Transnation Title & Escrow, Union Title Agency, University Title Services, Wilson Title Company Appraisals and Ancillary Services: LandAmerica OneStop, Inc. Form 3391-6 (May 2001) LANDAMERICA PRIVACY POLICY What kinds of information we collect. Most of LandAmerica's business is title insurance, but there are companies in our family that provide other real estate services to consumers. We collect information about you, (for instance, your name, address, telephone number), and information about your transaction, including the identity of the real property that you are buying or financing. We obtain a copy of any deeds, notes, or mortgages that are involved in the transaction. We may get this information from you or from the lender, attorney, or real estate broker that you have chosen. Our title insurance companies then obtain information from the public records about the property so that we can prepare a title insurance policy. When we provide closing, escrow, or settlement services, mortgage lending, or mortgage loan servicing, we may get your social security number, and we may receive additional information from third parties including appraisals, credit reports, land surveys, escrow account balances, and sometimes bank account numbers to facilitate the transaction. If you are concerned about the information we have collected, please write to us. How we use this information. The company giving or specifically adopting this notice does not share your information with marketers outside its own family. There's no need to tell us to keep your information to ourselves because we share your information only to provide the service requested by you or your lender, or in other ways permitted by law. The privacy laws permit some sharing without your approval. We may share internally and with nonaffiliated third parties in order to carry out and service your transaction, to protect against fraud or unauthorized transactions, for institutional risk control, and to provide information to government and law enforcement agencies. Companies within a family may share certain information among themselves in order to identify and market their own products that they think may be useful to you. Credit information about you is shared only to facilitate your transaction or for some other purpose permitted by law. How we protect your information. We restrict access to nonpublic personal information about you to those employees who need the information to provide products or services to you. We maintain physical, electronic, and procedural safeguards that comply with law to guard your nonpublic personal information. We reinforce the company's privacy policy with our employees. Agents that may be covered by this policy. Often, your transaction goes through a title insurance agent. Agents that are part of the LandAmerica family are covered by this policy. Agents that are not part of the LandAmerica family may specifically, in writing, adopt our policy statement. Form 3391-6 (May 2001) OWNER'S POLICY OF TITLE INSURANCE issued byLaWyers Title Insurance Corporation POLICY NUMBER LandA ca Lawyers Title Insurance Corporation is a member of the LandAmerica family �'Y P Lawyers Title of title insurance underwriters. C29-Z032034 Any notice of claim and any other notice or statement in writing required to be given to the Company under this Policy must be given to the Company at the address shown in Section 18 of the Conditions. COVERED RISKS SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B, AND THE CONDITIONS, LAWYERS TITLE INSURANCE CORPORATION, a Nebraska corporation (the "Company") insures, as of Date of Policy and, to the extent stated in Covered Risks 9 and 10, after Date of Policy,against loss or damage, not exceeding the Amount of Insurance, sustained or incurred by the Insured by reason of: 1. Title being vested other than as stated in Schedule A. 2. Any defect in or lien or encumbrance on the Title. This Covered Risk includes but is not limited to insurance against loss from (a) A defect in the Title caused by (i) forgery, fraud, undue influence,duress, incompetency, incapacity,or impersonation; (ii) failure of any person or Entity to have authorized a transfer or conveyance; (iii) a document affecting Title not properly created,executed,witnessed,sealed,acknowledged,notarized,or delivered; (iv) failure to perform those acts necessary to create a document by electronic means authorized by law; (v) a document executed under a falsified,expired,or otherwise invalid power of attorney; (vi) a document not properly filed, recorded, or indexed in the Public Records including failure to perform those acts by electronic means authorized by law; or (vii) a defective judicial or administrative proceeding. (b) The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable,but unpaid. (c) Any encroachment,encumbrance,violation,variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land. The term "encroachment" includes encroachments of existing improvements located on the Land onto adjoining land, and encroachments onto the Land of existing improvements located on adjoining land. 3. Unmarketable Title. 4. No right of access to and from the Land. 5. The violation or enforcement of any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting,or relating to (a) the occupancy, use,or enjoyment of the Land; (b) the character,dimensions,or location of any improvement erected on the Land; (c) the subdivision of land;or (d) environmental protection if a notice, describing any part of the Land,is recorded in the Public Records setting forth the violation or intention to enforce, but only to the extent of the violation or enforcement referred to in that notice. 6. An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement action, describing any part of the Land,is recorded in the Public Records,but only to the extent of the enforcement referred to in that notice. 7. The exercise of the rights of eminent domain if a notice of the exercise,describing any part of the Land,is recorded in the Public Records. 8. Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge. 9. Title being vested other than as stated in Schedule A or being defective (a) as a result of the avoidance in whole or in part, or from a court order providing an alternative remedy,of a transfer of all or any part of the title to or any interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because that prior transfer constituted a fraudulent or preferential transfer under federal bankruptcy,state insolvency,or similar creditors'rights laws;or (b) because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal bankruptcy, state insolvency,or similar creditors'rights laws by reason of the failure of its recording in the Public Records (i) to be timely,or (ii) to impart notice of its existence to a purchaser for value or to a judgment or lien creditor. 10. Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or attached or has been filed or recorded in the Public Records subsequent to Date of Policy and prior to the recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. The Company will also pay the costs, attorneys'fees, and expenses incurred in defense of any matter insured against by this Policy, but only to the extent provided in the Conditions. IN WITNESS WHEREOF,the Company has caused this Policy to be signed with the facsimile signatures of its President and Secretary and sealed as required by its By-Laws. LAWYERS TITLE INSURANCE CORPORATION ���5 •• N�F Attest: SEAL = By: 74.4-114 .4. °Z eh:6'1'14 Secretary „e" President Dbl Cover—ALTA Owner's Policy(06/17/06) Valid only if Schedules A and B are attached Form 1190-126 EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys'fees, or expenses that arise by reason of: 1. (a) Any law, ordinance, permit, or governmental regulation(including those relating to building and zoning) restricting, regulating, prohibiting, or relating to (i) the occupancy, use,or enjoyment of the Land; (ii) the character,dimensions,or location of any improvement erected on the Land; (iii) the subdivision of land;or (iv) environmental protection; or the effect of any violation of these laws,ordinances,or governmental regulations. This Exclusion 1(a)does not modify or limit the coverage provided under Covered Risk 5. (b) Any governmental police power. This Exclusion 1(b)does not modify or limit the coverage provided under Covered Risk 6. 2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. 3. Defects,liens,encumbrances,adverse claims,or other matters (a) created,suffered,assumed,or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; (c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy(however,this does not modify or limit the coverage provided under Covered Risk 9 and 10; Or (e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title. 4. Any claim, by reason of the operation of federal bankruptcy,state insolvency, or similar creditors'rights laws,that the transaction vesting the Title as shown in Schedule A,is (a) a fraudulent conveyance or fraudulent transfer;or (b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy. 5. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. Dbl Cover—ALTA Owner's Policy(06/17/06) Valid only if Schedules A and B are attached Form 1190-126 POLICY OF TITLE INSURANCE Issued by Lawyers Title Insurance Corporation SCHEDULE A Policy No.: C29-Z032034 File No.: 06159683-024-P13 Amount of Insurance: $702,663.00 Date of Policy: June 12,2008 at Fee No.20081140049 1. Name of Insured: TOWN OF ORO VALLEY,an Arizona municipal corporation 2. The estate or interest in the Land that is insured by this policy is: a fee 3. Title is vested in: Town of Oro Valley,an Arizona municipal corporation 4. The land referred to in this policy is described in Exhibit"A" attached hereto and made a part hereof. Countersigned: (3,917) By: Authorized Officer or Agent ALTA Owner's Policy—Standard Coverage Schedule A(Rev 6/06) Policy No.: C29-Z032034 File No.: 06159683-024-P13 EXHIBIT "A" All that portion of Section 29,Township 11 South,Range 14 East,Gila and Salt River Base and Meridian,Pima County, Arizona,being a portion of that property described in Docket 10237 at page 2166,more particularly described as follows: COMMENCING at the Southernmost corner of said property described in Docket 10237 at page 2166,being a point on a curve on the North right-of-way of Rancho Vistoso Boulevard,as recorded in Docket 7868 at page 1456,from which the radius bears North 16 degrees 39 minutes 44 seconds East; THENCE Northwesterly along said right-of-way,along a curve to the right,which has a radius of 1425.00 feet and a central angle of 20 degrees 10 minutes 31 seconds,an arc length of 501.78 feet to the TRUE POINT OF BEGINNING; THENCE continuing Northwesterly along said right-of-way,along a curve to the right,which has a radius of 1425.00 feet and a central angle of 09 degrees 09 minutes 41 seconds,an arc length of 227.85 feet to the Southernmost corner of that property described in Docket 12952 at page 7525; THENCE North 45 degrees 59 minutes 56 seconds East,along the Southeast line of said property described in Docket 12952 at page 7525,a distance of 351.54 feet to the Easternmost corner of said property,also being a point on the Southwest line of that property described in Docket 10617 at page 1897; THENCE South 50 degrees 04 minutes 13 seconds East,along said Southwest line,a distance of 177.99 feet to a point; THENCE South 37 degrees 56 minutes 07 seconds West,a distance of 355.70 feet to the TRUE POINT OF BEGINNING. (Portion JV Arb 99) ALTA Owner's Policy—Standard Coverage (Rev 6/06) Policy No.: C29-Z032034 File No.: 06159683-024-P13 SCHEDULE B EXCEPTIONS FROM COVERAGE This policy does not insure against loss or damage, nor against costs, attorneys fees or expenses,any or all of which arise by reason of the following: PART I 1. (a)Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments,or notices or such proceedings,whether or not shown by the records of such agency or by the public record. 2. Any facts, rights, interests or claims which are not shown by the public records but which could be ascertained by an inspection of the Land or that may be asserted by persons in possession of the Land. 3. Easements, liens or encumbrances,or claims thereof, which are not shown by the public records. 4. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and not shown by the Public Records. 5. (a)Unpatented mining claims;(b)reservations or exceptions in patents or in Acts authorizing the issuance thereof;(c)water rights,claims or title to water,whether or not the matters excepted under(a),(b)or(c)are shown by the public records. END OF SCHEDULE B -PART I ALTA Owner's Policy—Standard Coverage (Rev 6/06) Policy No.: C29-Z032034 File No.: 06159683-024-P13 SCHEDULE B PART II THIS POLICY DOES NOT INSURE AGAINST LOSS OR DAMAGE BY REASON OF THE FOLLOWING: 1. RESERVATIONS contained in the Patent from the United States of America, recorded in Book 84 of Deeds at page 292, reading as follows: RESERVED from the lands hereby granted a right of way thereon for ditches or canals constructed by the authority of the United States of America. Excepting and reserving, however, to the United States all the coal and other minerals in the lands so entered and patented, together with the right to prospect for, mine, and remove the same pursuant to the provisions and limitations of the Act of December 29, 1916 (39 Stat., 862) 2. TAXES AND ASSESSMENTS collectible by the County Treasurer, a lien not yet due and payable for the following year: 2008 3. RESTRICTIONS, CONDITIONS, COVENANTS, RESERVATIONS, including but not limited to any recitals creating easements, liabilities, obligations or party walls, omitting, if any, from the above, any restrictions based on race, color, religion sex, handicap, familial status or national origin contained in instrument recorded in: Docket 7761 at page 1493 Docket 7761 at page 1536, re-recorded in Docket 8021 at page 914 Docket 7871 at page 1787, re-recorded in Docket 7915 at page 1380 4. RESTRICTIONS, CONDITIONS, COVENANTS, RESERVATIONS, including but not limited to any recitals creating easements, liabilities, obligations or party walls, omitting, if any, from the above, any restrictions based on race, color, religion sex, handicap, familial status or national origin contained in instrument: Recorded in Docket 8021 at page 925 Assignment of Declarant's Interest recorded in Docket 9737 at page 1160 Supplemental Declaration recorded in: Docket 8151 at page 2548 Docket 8543 at page 511 Amendment recorded in: Docket 8327 at page 2058 Docket 8629 at page 576 Docket 10037 at page 1540 Docket 11565 at page 1377 Tract Declaration recorded in Docket 8290 at page 668 Amendment to Tract Declaration recorded in: Docket 9502 at page 1383 Docket 10165 at page 1594 ALTA Owner's Policy—Standard Coverage (Rev 6/06) , File No. 06159683 SCHEDULE B - SECTION I (Continued) 5. RESTRICTIONS, CONDITIONS, COVENANTS, RESERVATIONS, including but not limited to any recitals creating easements, liabilities, obligations or party walls, omitting, if any, from the above, any restrictions based on race, color, religion sex, handicap, familial status or national origin contained in instrument: Recorded in Docket 10348 Page 556 6. AGREEMENT, according to the terms and conditions, contained therein: Purpose License for street light and landscaping encroachment Recorded May 20, 1987 Docket 8039 Page 2566 7. EASEMENT and rights incident thereto, as set forth in instrument: Recorded in Docket 11770 Page 841 Purpose access, ingress and egress 8. MATTERS disclosed by Resolution No. 1986-71, regarding Rancho Vistoso Bridge Financing Agreement, recorded in Docket 7786 at page 957. 9. AGREEMENT, according to the terms and conditions, contained therein: Purpose Access Easement and Utility Extension Agreement Dated June 11, 2008 Recorded June 12, 2008 Docket 13326 Page 105 END OF SCHEDULE B - SECTION I Page 7 of 13 CONDITIONS 1 DEFINITION OF TERMS 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT The following terms when used in this policy mean: The Insured shall notify the Company promptly in writing (i) in case of (a) "Amount of Insurance":The amount stated in Schedule A, as any litigation as set forth in Section 5(a)of these Conditions, (ii)in case may be increased or decreased by endorsement to this policy, Knowledge shall come to an Insured hereunder of any claim of title or increased by Section 8(b),or decreased by Sections 10 and 11 of these interest that is adverse to the Title, as insured, and that might cause Conditions. loss or damage for which the Company may be liable by virtue of this (b) "Date of Policy": The date designated as "Date of Policy" in policy,or(iii)if the Title, as insured, is rejected as Unmarketable Title. If Schedule A. the Company is prejudiced by the failure of the Insured Claimant to (c) "Entity": A corporation, partnership, trust, limited liability provide prompt notice, the Company's liability to the Insured Claimant company, or other similar legal entity. under the policy shall be reduced to the extent of the prejudice. (d) "Insured":The Insured named in Schedule A. 4. PROOF OF LOSS (i) The term"Insured"also includes In the event the Company is unable to determine the amount of loss or (A) successors to the Title of the Insured by operation damage, the Company may, at its option, require as a condition of of law as distinguished from purchase, including heirs, devisees, payment that the Insured Claimant furnish a signed proof of loss. The survivors,personal representatives,or next of kin; proof of loss must describe the defect, lien, encumbrance, or other (B) successors to an Insured by dissolution, merger, matter insured against by this policy that constitutes the basis of loss or consolidation,distribution,or reorganization; damage and shall state, to the extent possible,the basis of calculating (C) successors to an Insured by its conversion to the amount of the loss or damage. another kind of Entity; 5. DEFENSE AND PROSECUTION OF ACTIONS (D) a grantee of an Insured under a deed delivered (a) Upon written request by the Insured, and subject to the without payment of actual valuable consideration conveying the Title options contained in Section 7 of these Conditions, the Company, at its (1) if the stock,shares,memberships,or other own cost and without unreasonable delay, shall provide for the defense equity interests of the grantee are wholly-owned by the named Insured, of an Insured in litigation in which any third party asserts a claim (2) if the grantee wholly owns the named Insured, covered by this policy adverse to the Insured. This obligation is limited (3) if the grantee is wholly-owned by an affiliated to only those stated causes of action alleging matters insured against by Entity of the named Insured, provided the affiliated Entity and the this policy. The Company shall have the right to select counsel of its named Insured are both wholly-owned by the same person or Entity,or choice (subject to the right of the Insured to object for reasonable (4) if the grantee is a trustee or beneficiary of a cause) to represent the Insured as to those stated causes of action. It trust created by a written instrument established by the Insured named shall not be liable for and will not pay the fees of any other counsel.The in Schedule A for estate planning purposes. Company will not pay any fees, costs, or expenses incurred by the (ii) With regard to (A), (B), (C), and (D) reserving, however, Insured in the defense of those causes of action that allege matters not all rights and defenses as to any successor that the Company would insured against by this policy. have had against any predecessor Insured. (b) The Company shall have the right, in addition to the options (e) "Insured Claimant":An Insured claiming loss or damage. contained in Section 7 of these Conditions, at its own cost, to institute (f) "Knowledge" or"Known": Actual knowledge, not constructive and prosecute any action or proceeding or to do any other act that in its knowledge or notice that may be imputed to an Insured by reason of the opinion may be necessary or desirable to establish the Title,as insured, Public Records or any other records that impart constructive notice of or to prevent or reduce loss or damage to the Insured. The Company matters affecting the Title. may take any appropriate action under the terms of this policy,whether (g) "Land": The land described in Schedule A, and affixed or not it shall be liable to the Insured. The exercise of these rights shall improvements that by law constitute real property. The term "Land" not be an admission of liability or waiver of any provision of this policy. does not include any property beyond the lines of the area described in If the Company exercises its rights under this subsection, it must do so Schedule A, nor any right, title, interest, estate, or easement in abutting diligently. streets, roads, avenues, alleys, lanes, ways, or waterways, but this (c) Whenever the Company brings an action or asserts a does not modify or limit the extent that a right of access to and from the defense as required or permitted by this policy, the Company may Land is insured by this policy. pursue the litigation to a final determination by a court of competent (h) "Mortgage": Mortgage, deed of trust, trust deed, or other jurisdiction, and it expressly reserves the right, in its sole discretion, to security instrument, including one evidenced by electronic means appeal any adverse judgment or order. authorized by law. 6. DUTY OF INSURED CLAIMANT TO COOPERATE (i) "Public Records": Records established under state statutes at (a) In all cases where this policy permits or requires the Date of Policy for the purpose of imparting constructive notice of Company to prosecute or provide for the defense of any action or matters relating to real property to purchasers for value and without proceeding and any appeals, the Insured shall secure to the Company Knowledge. With respect to Covered Risk 5(d), "Public Records" shall the right to so prosecute or provide defense in the action or proceeding, also include environmental protection liens filed in the records of the including the right to use, at its option, the name of the Insured for this clerk of the United States District Court for the district where the Land is purpose. Whenever requested by the Company, the Insured, at the located. Company's expense, shall give the Company all reasonable aid (i) in (j) "Title":The estate or interest described in Schedule A. securing evidence, obtaining witnesses, prosecuting or defending the (k) "Unmarketable Title":Title affected by an alleged or apparent action or proceeding, or effecting settlement, and (ii)in any other lawful matter that would permit a prospective purchaser or lessee of the Title act that in the opinion of the Company may be necessary or desirable to or lender on the Title to be released from the obligation to purchase, establish the Title or any other matter as insured. If the Company is lease, or lend if there is a contractual condition requiring the delivery of prejudiced by the failure of the Insured to furnish the required marketable title. cooperation, the Company's obligations to the Insured under the policy 2. CONTINUATION OF INSURANCE shall terminate, including any liability or obligation to defend, prosecute, The coverage of this policy shall continue in force as of Date of Policy in or continue any litigation, with regard to the matter or matters requiring favor of an Insured, but only so long as the Insured retains an estate or such cooperation. interest in the Land, or holds an obligation secured by a purchase (b) The Company may reasonably require the Insured Claimant money Mortgage given by a purchaser from the Insured,or only so long to submit to examination under oath by any authorized representative of as the Insured shall have liability by reason of warranties in any transfer the Company and to produce for examination, inspection, and copying, or conveyance of the Title.This policy shall not continue in force in favor at such reasonable times and places as may be designated by the of any purchaser from the Insured of either(i)an estate or interest in the authorized representative of the Company, all records, in whatever Land,or(ii)an obligation secured by a purchase money Mortgage given medium maintained, including books, ledgers, checks, memoranda, to the Insured. correspondence, reports, e-mails, disks, tapes, and videos whether bearing a date before or after Date of Policy, that reasonably pertain to the loss or damage. Further, if requested by any authorized representative of the Company, the Insured Claimant shall grant its (b) In the event of any litigation, including litigation by the permission, in writing,for any authorized representative of the Company Company or with the Company's consent, the Company shall have no to examine, inspect, and copy all of these records in the custody or liability for loss or damage until there has been a final determination by control of a third party that reasonably pertain to the loss or damage. a court of competent jurisdiction,and disposition of all appeals,adverse All information designated as confidential by the Insured Claimant to the Title,as insured. provided to the Company pursuant to this Section shall not be disclosed (c) The Company shall not be liable for loss or damage to the to others unless, in the reasonable judgment of the Company, it is Insured for liability voluntarily assumed by the Insured in settling any necessary in the administration of the claim. Failure of the Insured claim or suit without the prior written consent of the Company. Claimant to submit for examination under oath, produce any reasonably 10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION requested information, or grant permission to secure reasonably OF LIABILITY necessary information from third parties as required in this subsection, All payments under this policy, except payments made for costs, unless prohibited by law or governmental regulation,shall terminate any attorneys'fees,and expenses, shall reduce the Amount of Insurance by liability of the Company under this policy as to that claim. the amount of the payment. 7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; 11. LIABILITY NONCUMULATIVE TERMINATION OF LIABILITY The Amount of Insurance shall be reduced by any amount the Company In case of a claim under this policy, the Company shall have the pays under any policy insuring a Mortgage to which exception is taken following additional options: in Schedule B or to which the Insured has agreed, assumed, or taken (a) To Pay or Tender Payment of the Amount of Insurance. subject, or which is executed by an Insured after Date of Policy and To pay or tender payment of the Amount of Insurance under this policy which is a charge or lien on the Title, and the amount so paid shall be together with any costs, attorneys' fees, and expenses incurred by the deemed a payment to the Insured under this policy. Insured Claimant that were authorized by the Company up to the time 12. PAYMENT OF LOSS of payment or tender of payment and that the Company is obligated to When liability and the extent of loss or damage have been definitely pay. fixed in accordance with these Conditions, the payment shall be made Upon the exercise by the Company of this option, all liability and within 30 days. obligations of the Company to the Insured under this policy, other than 13. RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT to make the payment required in this subsection, shall terminate, (a) Whenever the Company shall have settled and paid a claim including any liability or obligation to defend,prosecute, or continue any under this policy, it shall be subrogated and entitled to the rights of the litigation. Insured Claimant in the Title and all other rights and remedies in respect (b) To Pay or Otherwise Settle With Parties Other Than the to the claim that the Insured Claimant has against any person or Insured or With the Insured Claimant. property, to the extent of the amount of any loss, costs, attorneys'fees, (i) To pay or otherwise settle with other parties for or in the and expenses paid by the Company. If requested by the Company, the name of an Insured Claimant any claim insured against under this Insured Claimant shall execute documents to evidence the transfer to policy. In addition,the Company will pay any costs,attorneys'fees,and the Company of these rights and remedies. The Insured Claimant shall expenses incurred by the Insured Claimant that were authorized by the permit the Company to sue, compromise, or settle in the name of the Company up to the time of payment and that the Company is obligated Insured Claimant and to use the name of the Insured Claimant in any to pay;or transaction or litigation involving these rights and remedies. (ii) To pay or otherwise settle with the Insured Claimant the If a payment on account of a claim does not fully cover the loss of the loss or damage provided for under this policy, together with any costs, Insured Claimant,the Company shall defer the exercise of its right to attorneys' fees, and expenses incurred by the Insured Claimant that recover until after the Insured Claimant shall have recovered its loss. were authorized by the Company up to the time of payment and that the (b) The Company's right of subrogation includes the rights of the Company is obligated to pay. Insured to indemnities,guaranties, other policies of insurance,or bonds, Upon the exercise by the Company of either of the options provided for notwithstanding any terms or conditions contained in those instruments in subsections (b)(i) or (ii), the Company's obligations to the Insured that address subrogation rights. under this policy for the claimed loss or damage, other than the 14. ARBITRATION payments required to be made, shall terminate, including any liability or Either the Company or the Insured may demand that the claim or obligation to defend, prosecute,or continue any litigation. controversy shall be submitted to arbitration pursuant to the Title 8. DETERMINATION AND EXTENT OF LIABILITY Insurance Arbitration Rules of the American Land Title Association This policy is a contract of indemnity against actual monetary loss or ("Rules"). Except as provided in the Rules, there shall be no joinder or damage sustained or incurred by the Insured Claimant who has consolidation with claims or controversies of other persons. Arbitrable suffered loss or damage by reason of matters insured against by this matters may include, but are not limited to, any controversy or claim policy. between the Company and the Insured arising out of or relating to this (a) The extent of liability of the Company for loss or damage policy, any service in connection with its issuance or the breach of a under this policy shall not exceed the lesser of policy provision, or to any other controversy or claim arising out of the (i) the Amount of Insurance;or transaction giving rise to this policy. All arbitrable matters when the (ii) the difference between the value of the Title as insured Amount of Insurance is $2,000,000 or less shall be arbitrated at the and the value of the Title subject to the risk insured against by this option of either the Company or the Insured.All arbitrable matters when policy. the Amount of Insurance is in excess of$2,000,000 shall be arbitrated (b) If the Company pursues its rights under Section 5 of these only when agreed to by both the Company and the Insured.Arbitration Conditions and is unsuccessful in establishing the Title,as insured, pursuant to this policy and under the Rules shall be binding upon the (i) the Amount of Insurance shall be increased by 10%,and parties.Judgment upon the award rendered by the Arbitrator(s)may be (ii) the Insured Claimant shall have theright to have the loss entered in any court of competent jurisdiction. or damage determined either as of the date the claim was made by the 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE Insured Claimant or as of the date it is settled and paid. CONTRACT (c) In addition to the extent of liability under (a) and (b), the (a) This policy together with all endorsements, if any, attached to Company will also pay those costs, attorneys' fees, and expenses it by the Company is the entire policy and contract between the Insured incurred in accordance with Sections 5 and 7 of these Conditions. and the Company. In interpreting any provision of this policy,this policy 9. LIMITATION OF LIABILITY shall be construed as a whole. (a) If the Company establishes the Title, or removes the alleged (b) Any claim of loss or damage that arises out of the status of defect, lien, or encumbrance, or cures the lack of a right of access to or the Title or by any action asserting such claim shall be restricted to this from the Land, or cures the claim of Unmarketable Title, all as insured, policy. in a reasonably diligent manner by any method, including litigation and (c) Any amendment of or endorsement to this policy must be in the completion of any appeals, it shall have fully performed its writing and authenticated by an authorized person, or expressly obligations with respect to that matter and shall not be liable for any loss incorporated by Schedule A of this policy. or damage caused to the Insured. (d) Each endorsement to this policy issued at any time is made a part of this policy and is subject to all of its terms and provisions. Except as the endorsement expressly states, it does not(i) modify any Therefore,the court or an arbitrator shall apply the law of the jurisdiction of the terms and provisions of the policy, (ii) modify any prior where the Land is located to determine the validity of claims against the endorsement,(iii)extend the Date of Policy,or(iv)increase the Amount Title that are adverse to the Insured and to interpret and enforce the of Insurance. terms of this policy. In neither case shall the court or arbitrator apply its 16. SEVERABILITY conflicts of law principles to determine the applicable law. In the event any provision of this policy, in whole or in part, is held (b) Choice of Forum: Any litigation or other proceeding brought invalid or unenforceable under applicable law, the policy shall be by the Insured against the Company must be filed only in a state or deemed not to include that provision or such part held to be invalid, but federal court within the United States of America or its territories having all other provisions shall remain in full force and effect. appropriate jurisdiction. 17. CHOICE OF LAW;FORUM 18. NOTICES,WHERE SENT (a) Choice of Law: The Insured acknowledges the Company has Any notice of claim and any other notice or statement in writing required underwritten the risks covered by this policy and determined the to be given to the Company under this Policy must be given to the premium charged therefor in reliance upon the law affecting interests in Company at: Consumer Affairs Department PO Box 27567 Richmond, real property and applicable to the interpretation, rights, remedies, or Virginia 23261-7567. enforcement of policies of title insurance of the jurisdiction where the Land is located. '' LandAmerica PRIVACY POLICY NOTICE LandAmerica Financial Group, Inc. and its family of affiliated companies ("LandAmerica") respect the privacy of our customers' personal information. This Notice explains the ways in which we may collect and use personal information under the LandAmerica Privacy Policy. LandAmerica provides title insurance and other real estate services through its affiliates. The three largest members of the LandAmerica family, Commonwealth Land Title Insurance Company, Lawyers Title Insurance Corporation, and Transnation Title Insurance Company, and their title affiliates, issue title policies and handle real estate closings across the country. You may review a complete list of the LandAmerica family of affiliates covered by this Privacy Policy on our website at http://www.landam.com under the privacy policy link or request a copy be sent to you from the address listed below. The LandAmerica Privacy Policy applies to all LandAmerica customers,former customers and applicants. Please visit our website for an explanation of our privacy practices relating to electronic communication. What kinds of information we collect: Depending on the services you use,the types of information we may collect from you,your lender,attorney, real estate broker,public records or from other sources include: • information from forms and applications for services,such as your name,address and telephone number, • information about your transaction, including information about the real property you bought, sold or financed such as address, cost, existing liens,easements,other title information and deeds, • with closing,escrow,settlement or mortgage lending services or mortgage loan servicing,we may also collect your social security number as well as information from third parties including property appraisals, credit reports, loan applications, land surveys, real estate tax information, escrow account balances, and sometimes bank account numbers or credit card account numbers to facilitate the transaction, and • information about your transactions and experiences as a customer of ours or our affiliated companies, such as products or services purchased and payments made. How we use and disclose this information: We use your information to provide you with the services, products and insurance that you, your lender,attorney,or real estate brokers have requested. We disclose information to our affiliates and unrelated companies as needed to carry out and service your transaction,to protect against fraud or unauthorized transactions,for institutional risk control,to provide information to government and law enforcement agencies and as otherwise permitted by law. As required to facilitate a transaction,our title affiliates record documents that are part of your transaction in the public records as a legal requirement for real property notice purposes. We do not share any nonpublic personal information we collect from you with unrelated companies for their own use. We do not share any information regarding your transaction that we obtain from third parties(including credit report information)except as needed to enable your transaction as permitted by law. We may also disclose your name,address and property information to other companies who perform marketing services such as letter production and mailing on our behalf, or to other financial service companies(such as insurance companies,banks,mortgage brokers,credit companies)with whom we have joint marketing arrangements. Additionally, some LandAmerica affiliates may share information about their transaction and experiences with you in order to identify opportunities to market other LandAmerica services or products that may be useful to you. How we protect your information: We maintain administrative, physical, electronic and procedural safeguards to guard your nonpublic personal information. We reinforce our privacy policy with our employees and our contractors. Joint marketers and third parties service providers who have access to nonpublic personal information to provide marketing or services on our behalf are required by contract to follow appropriate standards of security and confidentiality. Title insurance agents may be covered by this policy: If your transaction goes through a title insurance agent that is not part of the LandAmerica family,the agent handling your transaction should provide you with the agent's own privacy policy or evidence that the agent has adopted our policy. If you have any questions about this privacy statement or our practices at LandAmerica, please email us at customerservice@landam.com or write us at: LandAmerica Privacy, P.O. Box 27567, Richmond, VA 23261 THANK YOU Title insurance provides for the protection of your real estate investment. We suggest you keep this policy in a safe place where it can be readily available for future reference. If you have questions about title insurance or the coverage provided by this policy,contact the office that issued this policy, or you may call or write: Lawyers Title Insurance Corporation Consumer Affairs P.O. Box 27567 Richmond,Virginia 23261-7567 Telephone, toll free:800 446-7086 web:www.landam.com We thank you for choosing to do business with Lawyers Title Insurance Corporation, and look forward to meeting your future title insurance needs. Lawyers Title Insurance Corporation is a member of the LandAmerica family of title insurance underwriters. LandAmerica Lawyers Title r-" 2525 E. Camelback Road, Suite 600 M AGNIJS IT LE ii(7LNC\ Phoenix,AZ 85016 A division of Title Security Agency of Arizona Phone: (602)748-2800 Fax: (602)748-2710 October 31,2008 Via UPS Town of Oro Valley Attn: Jose Rodriguez—Public Works 11000 N. Canada Drive Oro Valley,Arizona 85737 Re: Escrow No.: 02024379 Property: Rancho Vistoso Blvd,Oro Valley,ARIZONA Seller/Buyer: Overland Vistoso Limited Partnership,LLP/Town of Oro Valley Dear Jose, In connection with the recent closing of the above numbered escrow,please find enclosed an additional unbound set of copies of the closing documents for your records. In addition to the copies noted above,please also find enclose the following original items for your records. i. Special Warranty Deed,recorded in Docket No. 13326,Page 103 ii. Resolution No. (R)08-42,recorded in Docket No. 13326,Page 82 It was a great pleasure having this opportunity to assist your with the closing of this escrow. We hope you will use Magnus Title Agency for your future real estate transactions, and if we may be of any assistance in the future,please do not hesitate to contact our office. Sincerely, (k14 1 Vicki Etherton,Vice President Direct: (602)748-2810 email: vicki.etherton@magnustitle.com VE/nn Enclosures G.H. GARCIA CONSULTING, INC. Real Estate Appraisers • Right of Way Acquisitions and Relocations 3444 N. Country Club Rd., Suite 100 Tucson,AZ 85716 Telephone: (520) 326-2200 Facsimile: (520) 326-0773 November 2, 2007 Jose'Rodriquez, P.E. Project Manager Town of Oro Valley Public Works Department 11000 N. La Canada Drive Oro Valley,AZ 85737 PARCEL: 223-02-017M OWNER: OVERLAND VISTOSO, LTD. PARTNERSHIP Dear Jose': As requested, I have apprised the referenced property, which is legally described within thin the following report. The purpose of this appraisal is to estimate the market value of the abovero e p p rty, as of October 5, 2007. Market Vague is defined within the following report. By reason of a thorough analysis of the neighborhood environment, physical, social, political and economic factors affecting the subject property and by the analysis highlighted in the report, the estimated just compensation of the property subjectp as of October 5, 2007 is as follows: ESTIMATED JUST COMPENSATION $684,646 The valuation ascribed in this report is subject to the limiting conditions and assump tions which are made a part of this report. This appraisal report is prepared for the Town of Oro Valley as apotential acquisition for a Park and Ride Facility. The intended user is Town of Oro Valley. It is not to be relied upon by any third parties for any purpose,whatsoever. Your attention is invited to review the data in support of this value estimate in the following report. Thank you for the opportunity of serving you. Re fretfullys bmitte►. ) / i . G e rge . G ci. C ,1 ifie' General R:/al Estate Rel Estate Appraiser t/#3 0297 SUMMARY APPRAISAL REPORT PARCEL 223-02-017M OWNERSHIP OVERLAND VISTOSO LTD PARTNERSHIP AS OF OCTOBER 5, 2007 PREPARED FOR TOWN OF ORO VALLEY ATTN: JOSE RODRIGUEZ, P. E. BY GEORGE H. GARCIA ARIZONA CERTIFIED GENERAL REAL ESTATE APPRAISER #30297 TABLE OF CONTENTS SCOPE OF APPRAISAL 3 SUMMARY OF SALIENT FACTS 4 DATE AND PURPOSE 5 MARKET VALUE DEFINITION 5 OWNERSHIP AND TITLE DATA 6 FIVE YEAR CHAIN OF TITLE 6 PROPERTY IDENTIFICATION 6 NEIGHBORHOOD DATA 7 SITE DATA 9 TAX DATA 11 ZONING 12 HIGHEST AND BEST USE 13 THE APPRAISAL PROCESS 15 ESTIMATE OF SITE VALUE 16 LAND SALES 17 CORRELATION OF SITE VALUATION 23 NATURE AND EXTENT OF TAKE 24 SITE ANALYSIS AFTER 25 SUMMARY 27 ASSUMPTIONS AND LIMITING CONDITIONS 28 CERTIFICATION 30 QUALIFICATIONS OF APPRAISER 32 ADDENDUM 36 2 SCOPE OF APPRAISAL The purpose of this appraisal is to estimate the Market Value of the real estate as identified within this report. The intended use of this appraisal is to determine the market value of subject property as identified in this report. The intended users are Town of Oro Valley and its designees. The scope of work included reviewing from the Pima County Assessor's records, Realist, the on-line MLS system via Tucson Board of Realtors, other data services, and an inspection of the subject's neighborhood. The approach to value in this report will be the Direct Comparison Sales Approach via vacant land sales.No other approaches are appropriate. The nature of the taking is to acquire in fee simple 1.65 acres or 72,068 square feet. The estimated exposure time for the subject property is approximately 60 to 180 days, which assumes an aggressive marketing plan, with an experienced real estate firm. This exposure time is based on comparable sales data within this report and discussions with broker/agents activity in the Tucson real estate market. 3 SUMMARY OF SALIENT FACTS DATE OF APPRAISAL: OCTOBER 5, 2007 DATE OF REPORT NOVEMBER 2, 2007 LOCATION: CTRL PTN E2 SW4 LYG NELY &ADJ RANCHO VISTOSO BLVD 4.97 AC SEC 29-11-14 (per Bill Hallinan) PURPOSE: To estimate the Market Value as defined within this report. FiJNCTION: This appraisal report is prepared for the sole and exclusive use of Town of Oro Valley. APPRAISAL: This is a SUMMARY APPRAISAL REPORT OWNERSHIP TITLE: OVERLAND VISTOSO LTD PARTNERSHIP, according to Pima County Assessors Office. SITE DATA: The site is rectangular shaped parcel, containing 4.97 acres or 216,493 square feet, per information obtained from Bill Hallinan ZONING: G1 zoning Rancho Vistoso PAD HIGHEST AND BEST USE: The highest and best use of the site is for the development for neighborhood and community shopping/ services ( see addendum) Like offices and the alike. VALUE INDICATIONS TOTAL RECOMMENDED COMPENSATION $ 684,646 4 DATE AND PURPOSE The purpose of this appraisal is to estimate the Market Value of the property which is the subject of this report, as of October 5, 2007. MARKET VALUE DEFINITION Market Value, as utilized in this appraisal, and pursuant, to Arizona Revised Statutes Sec.3, Section 12-1122, C, is defined as follows: "Value shall be determined by ascertaining the most probable price estimated in terms of cash in United States dollars or comparable market financial arrangements that the property would bring if exposed for sale in the open market, with reasonable time allowed in which to find a purchaser, buying with knowledge of all of the uses and purposes to which it was adapted and for which it was capable." The terms "market value" and"value", as used in this report, refer to market value as described herein. PROJECT INFLUENCE Arizona Revised Statues 28-7097 states: "In acquiring property for transportation purposes pursuant to this article, when determining the market value of the property to be taken and the market value of the remainder, if any, in the before condition, a decrease or increase in the market value of the real property before the date of valuation caused by the public project for which the property is to be acquired or by the likelihood that the property would be acquired for the project shall be disregarded." 5 All steps in the appraisal process, including the selection of comparables and analysis of market data, were completed disregarding any influence from the project for which this appraisal is being completed. • OWNERSHIP AND TITLE DATA The title of the subject property is vested in Overland Vistoso Ltd, Partnership. Attn: W I Harrison&Associates P.C. FIVE YEAR CHAIN OF TITLE The Assessor information indicates that the property was acquired in February 23, 1996 in docket 10237 at page 2166. (We were not provided with a title report.) PROPERTY IDENTIFICATION The subject property is located at CTRL PTN E2 SW4 LYG NELY&ADJ RANCHO VISTOSO BLVD 5.70 AC SEC 2941-14 ( Bill Hallinan says it has 4.97 ac) ., M . .,,,,,....-- .,...:,z...v..?::-..,- ' A 1 . . .. . . . s4'.'..,•'oc••../.4,0!:..1.,---. . . Z))' , ; .1\A"'::\'. \':`..'il' ' \ :..+471 It'...1.-':.:::,::::.;:::;i:.:', '•` .t•: .i..'.'. .:i ':::,::.1.....,,, , , _,‘„e, i ••1 \ t1 0~J.•�''s'"•ft': ij`1Sf'ir.(f• - {•.'J nr J.ti N , `� �'3 •,:t r✓"•;"•. ��ikif�`c'Fi ilk.��r *Iyr) ;� 7t. ON `111�, t �5ay` n1 �ynat•J,5yp,i isT yu y'z + 1 ` rr aM4 s .f1YTy4LZ" •' 1 . , w li Mi _•i' t'waS �1, A,,,':,.:,,,,:.-,k,,.',. 5 trrn 1 iti .' 1` \ � `r t• � tSt} 77ir w f v � N5 , - R '{ ,•w , ,kAtYs , ♦.-�: t�114- ,r,t `�I, •J y1 1 E. • tO .r,,% (.'''',..1..' tir�y , S�ii}o 7 Jt f2w nr M. y '�fsa,�♦lrrti Yia ycS� ,ire �N1•. . • -� i. fhrs�,f ` e �f Y1 • I0 '4 -4,,,:,,,,?, {,;<I�.f' {ytrpfr im �tJ , k6.4 \ f,"y,,, K,4,iitoytoosk;$*, i' , 4: fjp4FXirri k orr '�,JV !' 8tT4iiK Of':c�'t't t:w. iU, )_ti-2 (t...}.}.�; •`` r?` ..• I:,s}.....k 1A1.7 tr'�l:t i}h-..1 H\ plti,t r i-w'rv. &.wow. ,, :. NEIGHBORHOOD DATA General neighborhood boundaries are Ina Road to the South, La Canada to the West, Pinal County line the North and 1St Avenue to the East, Pima County, Arizona. Some major features in the neighborhood are the Hilton Inn at La Reserve, generally situated east of Oracle Road, Oro Valley Country Club, south of Lambert Lane. The subject's neighborhood is predominantly developed with custom single family residences, condominium and town homes. The single family dwellings are typically on lots ranging from one to five acres, which provides mountain views and privacy. They range in age from new to 25 years, and from values of$300,000 to $2,000,000+. Most structures reflect new construction materials and architectural designs, with some design and materials used during the late 1970's and 1980's. Additionally, there are newer homes north of Tangerine Road. The multi-family market is limited at this time, with most multi-family unit located in more urban areas and in Oro Valley and along Oracle Road. The commercial development for this neighborhood is limited at this time, with most commercial development located in more urban areas such as, Oracle Road, Lambert Lane, Ina Road and La Cholla Boulevard. These areas are developed with retail centers. Overall, the reputation of the neighborhood is good. Proximity to commercial, facilities and pride of ownership are among the most attractive aspects of the area. Recreational facilities in the area are provided by school play grounds, governmental parks or resort hotels. 7 Hospitals are located within close proximity to the subject neighborhood, such as Northwest Medical Center and the new hospital at Tangerine Road. Various neighborhood clinics and offices are also located nearby. There is no question that this neighborhood is strategically located and directly influenced by its "suburban" environment. The present market demand for neighborhood properties is considered good. Socially and economically,the subject neighborhood is well established, stable and should continue in an upward trend. 8 SITE DATA Location and Access: The site is located at Rancho Vistoso Blvd. and Innovation Park Drive approximately 335 feet east of intersection. The crematorium is being built at the northeast corner. The surrounding uses include residential dwellings to the south, east, west and north. There are commercial uses on Tangerine Road and Oracle Road. Access to the site is via north on Oracle Road,west of Oracle Road., which is paved. Overall, the site has good access. Physical Characteristics: The site is rectangular shaped parcel, containing 4.97 acres or 216,493 square feet, per information obtained from Bill Hallinan, Vice President of Cottonwood Properties, Inc. Utilities: There are utilities available to the site, such as water, sewer, electricity, and gas. Water is provided by the Town of Oro Valley Water Utility; gas is provided by Southwest Gas and electricity is provided by Tucson Electric Power. Pima County Wastewater Department provides for sewer service per Mr. Melingo Martinez. Environmental: The appraiser was not provided a Phase I environmental report. The appraiser is not trained in identifying existing or potential environmental problems. Therefore, it is the appraiser recommendation that a Phase I environmental assessment be performed by a qualified professional. 9 Easements and Restrictions: The appraiser was NOT provided with a preliminary title report and there appears to be no adverse easements, restrictions, or covenants that would affect the marketability of the site, indicated from assessor's plat map. However, it is recommended that the reader review the preliminary title report and obtain all noted documents. Summary: The site is located within Town of Oro Valley, which provides police protection. Fire and Sanitation collection is provided by private companies. The site is located in a commercial/office area, with adequate access. It size is adequate and typical for sites in the area. 10 TAX DATA Taxes for the subject property for the year 2007 are as follows. Vacant land. FULL CASH VALUE Real Estate $744,399 Taxes 223-02-017M $12,053.18 It should be remembered that the Full Cash Value and Market Value, as defined in this report, are not the same. Full Cash Value is estimated by the County Assessors for tax purposes. A goal of the county assessor is to attempt to equalize the tax burden; this problem has nothing to do with a market value estimate. In addition, it is subject to administrative judgment and does not consider all the elements of Market Value. Therefore,the indicated Full Cash Value for the subject property should not be considered in any way to be indicative of the Market Value of the property. 11 r • SPHERE OF INFLUENCE (1 MILE) -+•.•«•....•.-PLANNING AREA L PINAL COUNTY G L___1 ` 'uZoning Map f'''' OREN SPAC PRsRVE I NOTES * MASTER PLANNED 1 COMMUNITY BACK UP DESIGNATIONS The following land use designations are G()VFRN(11c'S I'RI:SI:RV!, ' t recommended in the event that the use shown INITIATIVI STVUI AREA i. ma not be realized due to lack of fundin or TOR-1001'A r ; other factorsgNiolINTA1N NARK . s',';', i01 Commerce Park ' Comparable Sales 't 02 LDR 2.0 03 P/OS or CommerciaV Elder Care ii I ------ >„ : 13i'•L,I1 !Illi,!,1 i''''"• ® P/OS or R-LDR , ' ';., ,,I /,,,lh,!. . (±'','i 05 LDR 1.2 s,,,:,•'-• -1 _ ,/ -r •: i ,.•..,.TOWN BOUNDA: .-`1 + ,'1'�f 1 © Commercial c-,' I R-LDR -; MDR / G?, : OO MDR r, d I R-LDR res. I )' LOP !"'� (:'` • O8 LDR 1.2 lam------� ; �, + ii t.2 - �' d'Ili�G���r '"'�' ; ���l -1--,‘C �; r,../,1,..j,!:,‘,.,1..I ° a I/ LDR ,.,/ ,,• ) MDRiy, s PRE-ANNEXATION AGREEMENTS y I' C'2+ LDR 1? :.:; ../ iillr,r;, e x+0.5 i. 1`-,��,i,alil� __ The following Pre-Annexation Agreements have been O -------+-' �•, J u,' ,,,,o'' entered into by the Town of Oro Valley. Q'r (nnu�A MPR a r• ��1 1 R-LDR r+ , •,1 t i DA PAD w/Commercial,MHDR,MDR&P/OS g�' i .'/_:�•;5 I '',, /l i ® PAD w/HDR&Commercial �, CO� 3 +; r1�ID ',, 1._.� © PAD w/HDR 3' t 2 A MDR + 1 Oif�-`I i!'I - • ALINA © HDR �,, i ,,Qi.._ t'ATE DE Commercial URBAN GROWTH BOUNDARY ! _' P' MU ,' /� ,,1 C�ub�eC �K QF HDR I LA CHOLLA AIRPARK SPECIAL PLANNING AREA MOORE ROAD j --- -j---- __ .'";;....i \ I�_ ;. --- `-' RS - ,% The Boundary for this planning area is the Conical 'LDR 'R-LOR V - -MD' °`® ' > r • ' i ' Zone for airport traffic. - , 1.2 _ Lf:\ j n r' _ " R•LOP ' ,•2 2.0 ` I,s �i f j II111',♦ SPECIAL CONDITIONS MDR k 1 R-LDR '-- ' MDR MDR ' LDR.'M �, (� ' `♦ Da Allowable uses limited to those in the TP Zoning District s' ) R LDR i 1z', R i ♦I, ® Uses limited to those in TP,TP Conditional, TANGERINE ROAD ; ; e'��'� and small scale retail - i'• ' • , ® 02 DU/ac;58 DU/ac max;33%open space;minor resort �``� .'MDR' E s- �z ` MD. LOA LDR \. ' +,+ , wl 5150 rooms on 513 ac R LDR L.,.....,Lon 2.0 1.2 MPC MDR t , r...i ©o ...-,-,..?2 - .pp -� > :.•.0 ADVISORY NOTICE mos M' MDR "0 • a R• i R R-LDR LDR Q i AioSA R LDR; LOP. ,'�� The land use designations on this map are policy recommendations only. R t 2 R. cn; q t.2 ,� Designations may or may not represent actual zoning on properties.No NARANJA DRIVE ,, LDR t.MDR LDR ; (})' decisions regarding land purchase or possible construction should be based 0Q solely on these designations.For information about actual zoning Mi Mt3R ",:i„,,, %off Coentitlements,refer to the official Oro Valley Zoning Map,the Oro Valley D' MDR LDR t.2 . 1 n 5 !., Zoning Code Revised,and related information. R-LDR LOR R' o ,`� �• l �Plp �� . r. MDA htoR C3/ {• 6 u LOP LO r Drt '� ":1,,, M+1Drt 7 p�s i t;,. LDR 1.2 nor jl �+.RR)rt. , 1.2 i „,..iii , LDR MDRtit;Ado, •tr.... ` ,iGp LAMBERT LANE 106, R-LDR P O 11111 # R-LDR R-LDR LDR" LDR 2.0 -.+.'� �.41 ,.:P/PA)7:03,O�t 7�'�''i ,�.��' ,� _.�.,.,.1.2 't.5R. LDR 20! --'-1.2 MDR Fah.) D LDR LDRLDR t.2 Y • *I 1 ,, R LDR t 0ti MDR Ire S 1Lnn Tann 2 '`,�n�•LDRI LDR rR t' • I!, t.2 p ta�C s LLEY q MDR , �.:r MDft , h P` RR �-s LDR 5•:,t \ LDR ,- t.2 LDH ` LIPIDA VISTA BLVD a•LURi �U 02 ••' 1.0r• CDR MDR' jjr � Q LDR 0.5 1,.....!;1;,••'" 0.5 ,MDR/MDP _, '• R-LDR Lori • _' ( �``.:.--,j �' OVERTON ROAD 1 /P!os LDR LDR 4 1 61., /t ti , l'.. MDR , 1.2 1.2 \ Mon'Jj. FIF ,f ' 0,SP LOR 11`:ti ' CORONADO A �L/lam /A LDR LDR �., R-LDR 6 1.2 0 LDR' �- t.2 t.2 Ti.1.2' NATIONAL ..,...„ ...,„---0.-----„,„- MDR • •! �'\H'ROY•PAD•••-- MDR r�.. . FOREST � A R LDP MNDR L%.'. . *"'3�Y'DA LDR, ��UNDED�9 91$ rSArt },;,� LDR M++nR 'i�n r 1.2 : 'y ..r 1.2 MDR !+ Q r ;;' LOP HDR r ,,, i,• GP MHDR, 6, 1.2 MHnn ��,,,• r�++nn a D- Hpfi ! MDR MnR W.3'ar f •�, '' 1' ',EE ' a,', - '' 4' MDR Np,▪, >n HD, r,HnR LDR =, :a 1.2 F- <,3 LQR R-LDR R-LDR SECONDARY PLANNING AREA i •,',.,'', LDR d! c =7,_ rte. ,e..•• lr 1.2 112 `�'..'MD ,t. '1 LDR ','i,,';' LO. LDR .. . INA ROAD _'!' "pi.,4.i ''▪I` t ,` 1.2 C 41 .fti° F I. e, n:,' y �, tR �`� y,. LDR ® �� i .' MDR yit. LDR ' SPHERE OF WI LDR LDR LDR HDR:`^ 1'2 �l� 3 INFLUENCE 1.2 1.2 LOP 1.2 a 1D2 2FO ,1,4• z r. ►. �.` L►T�I 1.2 HDR ,.+arab a :"=»�� c� it t 'Sa/k s' +r'^ > o )RANGE GROVE ROAD . MDR , k2,41 ;�:?i $ ,..:,:i1.17 HDR it,,,,, CP i a` ; oa PLANNING •REA 1-> •• •..•, 2 2 > ¢ r s m o 2 Q . G2 0 z J O -i o t4 . 9 O O O a a� r N a Q o } = 2 U OC . Q G Z m ao "' a g . pRl 3 U ' X . • TOWN of ORO VALLEY GENERALPLAN LAND USE IR-LOP RURAL 0.3 D W DENSITY RESIDENTIAL [MPC1 MASTER PLANNED COMMUNITIES I Ptos i PARKS/OPEN SPACE ILDR I LOW DENSITY RESIDENTIAL I 0.5 (0.4-0.5 DU/ac) ® REGIONAL COMMERCIAL -,/,' SCHOOLS LDR LOW DENSITY RESIDENTIAL 111 COMMUNITY COMMERCIALTRANSMISSION LINE 1.2 (0.6-1.2DU/ac) """'� LDR LOW DENSITY RESIDENTIAL '1 • NEIGHBORHOOD COMMERCIAL ;_.- TOWN BOUNDARY 2.0 (1.3-2.0 DU/ac) -:' I I MEDIUM DENSITY RESIDENTIAL ``' / NORTH MDR Q-1`: OFFICE RESORT MEDIUM-HIGH DENSITY RESIDENTIAL p I COMMERCE PARK 3.0 0 0.5 1.0 2.0 I MHDPl c;I (5.1-10.0 DU/aC) --=--J SCALE IN MILES ,q HIGH DENSITY RESIDENTIAL [ s/] PUBLIC/SEMI PUBLIC (10+DU/ac) , 95084L 8.23.96 HIGHEST AND BEST USE Highest and best use is most profitable, likely use to which a property can be put or it is that use which may reasonably be expected to produce the greatest net return over a given period of time. In estimating highest and best use,there are essentially four stages of analysis: 1. Possible Use. What uses of the site are physically possible? 2. Permissible Use (legal). What uses are permitted by zoning and deed restriction on the site in question? 3. Feasible Use. Which possible and permissible uses will produce a net return to the owner of the site? 4. Highest and Best Use. Among the feasible uses, which use will provide the highest net return of the highest present worth? In arriving at the estimate of highest and best use, these tests have been applied to the subject site. In order to analyze the possible uses of the site, the physical aspects must be considered. Its size and location are important aspects. The site is rectangular shaped parcel, containing 4.97 acres or 216,493 square feet,per information obtained from Bill Hallinan of Cottonwood Properties. The site has good access. There are utilities available to the site such as water, electric, gas and sewer. Legal restrictions, as they apply to the subject site are public restrictions, namely zoning. The subject is currently zoned PAD-C-1. Proposed use is commercial/office. The surrounding properties are also PAD-G1, Commercial/office to the east and to the west. 13 In consideration of the subject's location, existing zoning and surrounding uses, it is my opinion that the highest use of the site is conforming to its existing zoning of PAD- C-1 commercial/office as allowed per provisions of the Rancho Vistoso planned area development district, Oro Valley, Arizona, as adopted by Oro Valley mayor and council July 29, 1987 in ordinance No. 157. 14 THE APPRAISAL PROCESS An appraisal of real property is an estimate of Market Value of the property as of a specific date. Market Value is the most probable selling price of the property as of a certain date, under given market conditions. The appraisal is based on an analysis of known facts, conditions,trends, growth patterns and other factors that affect value. The market sets the standards for guidelines for the estimate of value of the subject property by the interaction of supply and demand; that is, buyers and sellers. In this appraisal, market analysis is used to estimate current Market Value of the subject by direct market data comparison, comparing the subject to properties which are similar with respect to environment, economic and physical characteristics. Since properties vary, adjustments are made to compensate for differences between the comparable property and the subject property. Here follows highlights of the market data and conclusions drawn from this market data. 15 ESTIMATE OF SITE VALUE The estimate of the subject site's value is based on market data. The use of comparable sales and listings to estimate the site value is based on the principle of substitution. This principle affirms that the subject value tends to be set by the cost of an equally desirable substitute property, assuming no costly delays are encountered in making the substitution. The most persuasive indications of a reasonable market value for the subject property are the sale prices of similar properties that have recently sold, or that are currently offered for sale in the real estate market. No prudent purchaser pays more than an amount necessary to acquire ownership and will pay no more for one property than the cost of acquisition of similar property with similar utility and desirability. A thorough search was made to find similar market data of vacant sites, which could be compared to the subject property. Here follow highlights of these findings: 16 LAND SALES No.: Subject 1 2 3 4 5 223-02-017M 223-02-017M 220-10-016A Tax Code: 223-02-017N 219-20-004M 219-20-001 C OFFER & 017A Ranch Vistoso Rancho Rancho Rancho Rancho N. of 1St Ave. and Vistoso & Vistoso & Vistoso & Vistoso & E. of Oracle Innovation Innovation Vistoso Morning Vista Innovation Rd. on Location: Park Dr. Park Dr. Highland Dr. Dr. Park Dr. Henley Blvd. Date: 1/06 8/06 7/05 8/07 3/05 Sales Price: $1,000,000 $5,659,656 $950,000 $1,982,000 $1,000,000 DID NOT Terms: Cash Cash Conventional CLOSE Conventional Site Size (Acres): 4.97 2.5 16.94 3.51 4.97 2.89 Site Size(Sq. Ft.) 216,493 108,900 737,906 152,896 216,493 126,063 Zoning: PAD-C1 PAD-C1 PAD PAD PAD-CI PAD Paved Street: Yes Yes Yes Yes Yes Yes Flood Zone Water, Water, Water, Water, Water, Water, Water, Electric, Electric, Electric, Electric, Electric, Electric, Electric Sewer, Gas Sewer, Gas Sewer, Gas Sewer, Gas Sewer, Gas Sewer, Gas Price/Acre.: $400,000 $334,100 $270,655 $435,604 346,021 Price/Sq. Ft.: $9.18 $7.67 $6.21 $10.00 $7.93 Adjustments: Time 0.1 0.1 0.2 0 0.2 Location: 0 0 0 0 0 Size: 0 0.15 0 0 0 Zoning: 0 0 0 0 0 Utilities: 0 0 0 0 0 Flood Zone: 0 0 0 0 0 Terms: 0 0 0.5 0 0.5 Net Adjustments: 0.1 0..25 0.25 0 0.25 Adjusted Price/Acre: $440,000 $417, 625 $338,134 $435,604 $431788 Adjusted Price/Sq.Ft.: $10.10 $9.59 $7.76 $10.00 $9.91 17 a • SPHERE OF INFLUENCE (1 MILE) _-A-saw.. PLANNING AREA L PINAL COUNTY F. r 1 I Zoning Map ----I r--........... 1 - PRs� RvEo %,l� NOTES 1 MASTER PLANNED i ' 1 COMMUNITY 1 r BACK UP DESIGNATIONS 60ti4;12NUlt'SPItl SI,ItyI. i The following land use designations are recommended in the event that the use shown ft�lt"I()LI TA INITIATIVI?ST1,11Y ARI? �, I may not be realized due to lack of funding or M,/IINTAIN PARK LD ,,;',,I`. .�• other tactors '• 0 Commerce Park Comparable Sales ® LDR 2.0 0 P/OS or CommerciaV Elder Care j ----�- I, !11,.11 % /'`'-r111Pl1• • ® P/OS or R-LDR i �'+i 11. __ , •, I',1,9'il�klh',�IC111,,li rY% 05 LDR 1.2 _ 11 Qat, '." -.J•-�•...,'� 1 ".' I F TOWN BOUNDA: ..1• f 1�,+;"I�i 7�,,, © Commercial P,• I -1- r r)•. , CP 0 -e''' r. r R-LDR •�• .+ ,�, MOR ;' l�ji�.,pl, : 7 MDR -.,� - 1 1 R-LDR 1 ------1 i I' 1) LDR �' ;;, ,i 1 08 LDR 1.2 ti..--- •1,-.- r `, ' iii 1.2 jA.i4°,,,14: W��7 1 \ 11�f�I i �. , LDR, , `•1,...,- ' 'J ',NS �>*; rII�,li / PRE-ANNEXAT1ON AGREEMENTS �n iI,)I N;;• i• „ C'2 e ;o.s �f; ,�!� The following Pre Annexation Agreements have been - i„�+Id p ,!; 9 9 7' t -----;"---,/.J Zncf? 'tile!,,0 t--• entered into by the Town of Oro Valley. �' R-LDR I' r ��u r0 r ,''hF'17i''1•j I ® PAD w/Commercial,MHDR,MDR&P/OS 3r ' MDR ) Q r;41", ♦. i� .i)s- J `,I ry,,:i, 1 ! © PAD w/HDR&Commercial 3' r+ -COQ 3 I, aD �;,t�i,''f 1• © PAD w/HDR IF t.2 A NIOR ri ''ii,(•.;. 1 ALINA 0D HDR r i -• 4,.,,..,51,I4,,, ,eGt,ATE ® Commercial URBAN GROWTH BOUNDARY Ir 1 r , ` '� _ ® ��1 , o�� ARK 0 HDR /..--- IrV; <; SMOORE ROAD --- ---- I;, .... `' ,f:" LA CHOLLA AIRPARK SPECIAL PLANNING AREA •LDR _ -- ,os ;• C, �r' The Boundary for this planning area is the Conical 1 2 I R LDR r -II MO' , ., r` > 1_.r-1 Zone for airport traffic. MDR R LDR �a r LDR : " .. `, I R-LDR r- 7 •• MDR MDR l f , SPECIAL CONDITIONS e LDR.D 5r'. ,e,. 0Allowable uses limited to those in the TP Zoning District R-LDR 1'?'• R ..' t e ® Uses limited to those in TP,TP Conditional, TANGERINE ROAD t i e,ti and small scale retail r� r Qn - '*•, Qc 52 DU/ac;58 DU/ac max;33%open space;minor resort +2 l� R•f LOR ,•'MOR ''` '�- : a w/5150 rooms on 513 ac RLDR RLDR ,`l� 2.0 ; LDR MPC ' \ e ' ,1 :",12.o M '' �. 1.2 MOR '. e i- , ® Anc`•1 IDR f._,r ., '-i-..1., r I1..F ADVISORY NOTICE M' MDR-- I a i r R-LDR 111 LDR D; PJOS R- r- Lon I LDR; :�� The land use designations on this map are policy recommendations only. 1.2 R LDR (A 1.2 r- Designations may or may not represent actual zoning on properties.No NARANJA DRIVE MDR MDR (� decisions regarding.land purchase or possible construction should be based � X11 /' 09 solely on these desgnations.For information about actual zoning M. MtrFt pi, a`'• , , CO entitlements,refer to the official Oro Valley Zoning Map,the Oro Valley R, }�n $p �^ LDR t.2 . 5 • Zoning Code Revised,and related information. R-LDR LDR ' o ,X ' narLR ^P'IO ._:„:„.6, ,„ ♦4► MDR 0�- '� �ii G,q LDR o.5 e:' MGR °,,pli+:: NQ►3 _ t I,t LDR r: �' . r r 1. 1.2 wcr y',,I�>11 + v.{,. �LQn -�,.�,c. 2 I rr- RLDR P'''S'115112 rr,- M; ,/�.,,1WQN ,,,,,I.44,,-- 'j' 1,1CP R-IDR LAMBERT LANE a .t r'"�"i ,�2 h�y,',..i.''R-LDR - +.2 R- LDRIIII Frrti,2 J MDR '.1.2 HHtT-;. 0 LDR Li.:;,,' LDR 1.2 .,V Ion atfl ' LDR 1 on t MDR Ir.rJos t.2 Q Q '• �� (".�`�f�•LDR LDR oP .S\71 �_ +� t2 O ,11-1..r;1 t sEY LUH '-,'`.9,MDR J' -` lalifto. mgr i+ LDR I �F LUH 1 ,I N AR/,, 1.2 \ LINDA VISTA BLVD _12 I } ' O Q, Z t:-^ LDR 0.5 ',IMF,. Of7 t..-MOR. f 0 ,+ ,l:n MDR MOR •' RLDR Din ■ ,�` r OVERTON ROAD MI r fP{os LDR LDR / ,,,,,----7-, •.y y ► pr x+,1 MDR j, 1.2 1.2 Mort PlSP LDR ,r'„ Ili LDR LDR `,. R-LDR •- 1 2 0 LDR CORONADO -„^_ A t.2 Pi° t.2 '1.2 NATIONAL W,.4. MDf� MDR HARDY''AD^'--- 'v, FOREST 7 Fn++nn �L?JI0 nmanFl NI NOR LDR ;t nna�Y!:DA LDR 0"JNDED mon MDR �,--, MDR , t.2 id .•TA 1.2 Minn +� DR > 4,CP LOP eon i.51� -, MHDR, H,5+ Hpn r? rr- "i n 1.2 Munn roFinn 1 1;090 J iiI r�°i•:,,,, :' � rev � MDR UA Irr HD'�'F•00 LDR =t..., y; RLDR R-LDR HD" 12 , <,; LOP SECONDARY PLANNING AREA _ ~ MDR Iii(1i�'1"', _ 5O o 1.2 LDR j I,l;CP it 1.2 0: i� e '.. MDR A$i" ;' LDR 8"61 { ', til LOP e "+ > '12-4, , , LD INA ROAD Mr 9,-5 7:,' ', r;;il+3s+.,,AT 1.2 C '}_ -.1, r f to sy yr ' MOR , - LDR 3 ' SPHERE OF -^ LOB 1D2 LDR HDR`a 1,2 , LDR i e INFLUENCE 1 1.2 LDR 12 a 1.2 �F ,1'.. z A �. (RANGE GROVE ROAD i??4:.:��,` MDR /, j; 4 `�.HDR ./t,,;i!�P'I a• 3,t =" F , -' PLANNING •REA •+• .•... 1 °C a a o > o w 1 z R 2 M o 2 a e SG o z Q z li a ,,,,-2 N le E_ a0 a a z U U '6 6m TOWN of ORO VALLEY GENERAL PLAN LAND USE 11,1-LORI RURAL LOW DENSITY RESIDENTIAL [MPC MASTER PLANNED COMMUNITIES Pfos PARKS/OPEN SPACE (0-0.3 DU/ac) l_�.�1 ILOP I LOW DENSITY RESIDENTIAL ;9 n: I Lo s (04-0.5 DU/ac) IIIREGIONAL COMMERCIAL _. SCHOOLS . ...a- LDR LOW DENSITY RESIDENTIAL "`.=`-. COMMUNITY COMMERCIAL -- TRANSMISSION LINE 1.2 ( (0.6-1.2 DU/ac) �"" - rI L2OQR I LOW DENSITY O DU/ac)ESIDENTIAL NEIGHBORHOOD COMMERCIAL I;..,.-I TOWN BOUNDARY MDR' MEDIUM DENSITY RESIDENTIAL F-5-1 NORTH (2.1-5.0 DU/ac) OFFICE ` RESORT ►' IMHDR MEDIUM-HIGH DENSITY RESIDENTIAL I (5.1-10.0 DU/ac) COMMERCE PARK 0 o.s 1.0 2.0 3.0 SCALE IN MILES WA' HIGH DENSITY RESIDENTIAL h;SI?J PUBLIC/SEMI PUBLIC e (10+DU/ac) 95084E 8.23.96 COMPARABLE UNIMPROVED SALE ONE: LOCATION: West of Oracle Road on Rancho Vistoso Blvd. and Innovation Park Drive, Oro Valley, Pima County, Arizona LEGAL DESCRIPTION: Cntrl ptn E2 SW4 LYG NELY & ADJ RANCHO VISTOSO BLVD & ADJ VISTOSO COMMERCE LOOP 2.50 AC. SEC 29-11-14 Pima County, Arizona TAX CODE NUMBER: 223-02-017N RECORDS: Special Warranty Deed recorded January 6, 2005 in Docket 12952 at Page 7525 in the Office of the Pima County Recorder SELLER: Overland Vistoso LTD, partnership BUYER: Harpold Real Estate LLC SALES PRICE: $1,000,000 TERMS: Cash SITE SIZE: 2.5 acres, more or less SALES PRICE PER SQ. FT.: $9.18 ZONING: PAD-Cl CONFIRMED WITH: Public Records; Bill HallinTI, of Cottonwood Properties. COMMENTS: In comparison to the subject,the s will require an upward adjustment for time of sale. 18 r Cf CD m U) w w t-ri n , o FriO U) .0"f._.. -- - ,• 4 4 ,�` ::1 I�' '`\���' V 1 /� ,/' • �, `� / / Z \k \ a c-47 monr�o ?1,7i. ` 0 H 0 \ ` - C�/Pk �Tlo� N i-k CD \\• > y0 fsro�A� cpm ►—` QyZZ r' o = / s•o "�� 1 cy, I z Q C� O \\\ .-� I—. d IoM �'� ` o' x�� �q��,,3 'fF,Qcd�j��` � o� OO Vii) �6� /� �► 0 - '•s 'zi 1\DI— c7) x \A ,z;„ .4.4/.1N. , c..00.--'4 ,1.1.6S°- \ � O � � � x IS � Q ox , w N • \ \ \ cn .... ".I. cCv°°- R. 4 < ►fid \., ,,�'� st e �, b m 4 o op o r--, • trJ `V ��_ 7,,, , 440 .„ <,�p efsso k coU �„_,`j ,� cA N 8�, 5� \i°1:1 O O '� a: .; y%' ,�' / •.......--,--_,`0 � LSOGE DRIVE a _• -' . (z>' 9,\'' .,7,-,b ,,, 9..„ �QU� �2 : 2b �2 . t, ul ... ‘0.0 Q V . . I--a a t 0 C,�0 /�? d��� uiJ . , y o I1......./ 4, ►-► c, Re 0, : .-. mN "d A, u) O 0 iTy' 0 ®Al x 00 'is'..fl 90.3 . -�'E -�.-T IV , ©, $92 Aar rT I t� �63C6 r,1AlliV,F' 1, ti'r. �. .� , �, '18.65, 600.00' �N titer �� .� o4443 754.90' 2�p�'� <�� �, 0 1 r. <`,�; ,'. �` 2`66 ; o o' 1 LOST ARTIFACT LANE �,A, 361.67' W I r - 554.04 r.,ocil ,` `\"9 r 1 r'Z .-. N N w 0 a N.'.,-'1, t I I U) ti :fi i d o �`, I cI R'rn W N U N 0 r--- -- — in] - � p ; :ic�. -. .p '-. Co • 147.53'.pq'� N �'() ♦ �, % - ... 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'''',1:1:::;:.' � ••,R'uF`.�t* v� 't # � +k� rh • :.:i,•:',•1: :''''.7.:' 'w.. i S r �%P/Or •�44?% * • .rSti�7"r. ti �x'°9r " r {+k.1t l RgJ ,, 4_. .,:,x Asa# r, ti ... a ...-:,' -. .,,. ,, ,, „. --...---- + Y ... .:',.,4,--,-,':;,.' . ,,, - 4:• ' ', •, .. .i P 1.,..,t-,-,--' fB PVA ' l'''''' - : i ,. , . , . ,. °i ” 4 i lli s , 't ii t^ik e 411 '--%'-'441.1"!;!,,rwoi.',..7.7W-4144.r- ;4,-.•-: - if �+a��.,,w���%.,.rh'�x•Xpl'. �' � �zk.'� `.+i'-'-4`!.:.f� -di'yEy 1�rl-�� z��it'4.'p`'.�i« ,a" ,141,/. .,.,.„,,,,,,: i' 'k... _ .......;:c..'...-.....,'"1411,,_.,,......1 ,._. `,� . , „ ,,-..,,,. „,..,,,,,z.,.,..,.....::-..-.':----.::':.,‘,.,,...„:,,,,,,,. ; *. ,-..,..:?'.A; ' . .,,i'f.1;:f....1:... . ' 'c ' —.441441. ,.,'i.c.:::'..,,,t.:,1.::1::':'.'''''..7'''.:":14':'7: . .' . ' , .'. ,,.. .,'.:',.:..'..:':....”::,';..:,'.:.2,,.'.,.' ,,.'. ?;:,::::'''','.;,;.:"1.;,,''2:1,.:.::;.:.,',,•,• ''' ',•,.!,'7:,,%::,.:,::::.*':,:,; ., t .•7 k ' d Property sale looking northwest t.. Y dY Y L ..4 , t -'li'. t Ct .,i'�y" + 'el 9� r ki h � w Sy y _+4 ':'''k..-'1:'-'4'4$2,.".:4:4X.,-,,".;f4.7.:- fiF ' `ij �i��rIcy.'"s �j. �"G, '• Y .1 _ +� Y moi+ 'W VM.a(y.kgf.r 'Y .€. Nit' Woe..___.' '''. . ... '''''. -- ----:-- -''':': .-' ''''''.''F-•"7.4,"iii$t;41*71~-...".1..'..,-• S .'� ' . . '•t ;„: . hZie. . _ . r ; ' ,.. l6 .''t : � < Ic-. ' ....... - ,..s. wr wr�r'� k rvrr rr.� ..M.,. . rr { - M4 .-7,....-,:.,41111gt'.' a..:,,,„.. .---..-,,:...,:.--.1, SI eil rt ��o '� *ip�a�I� * tip. i l�` , 'i 4.14. - ' - r' s „..- `?�L• 1^•-, .'''i,i.,..;-:;-..4:.cs-,A, -. $ 'mo !,"111,1114M44,4, 1l, p, w . R : . tc . m " .:....; '.,'A.....,::„;;:„4.7,..,:,,.-.,,,:,‘,-.:,..\- ` ,4j Y" ' . M, ti9? �¢ . t.• .4,4..4,,,,,,,::!.,,i v ` 6 " 'P + : 1'iit,-V)10 -• • 04100,,,,,„_::„. :.....,,.. „....,,-.:;:,*:,..,:,..:,.,,:::,,,,,,. , 44-,t4.,!:f`-,.'-..Y,...,,,_..-.'-,t7:-'7...: :-, --- r'e'r- - -.-:/'' '4'. - ' ' . •,,il ' ' • r Property sale looking north COMPARABLE UNIMPROVED SALE TWO: LOCATION: 500 W. Vistoso Highlands Dr. & NWC Rancho Vistoso Blvd. Oro Valley, Pima County, Arizona. LEGAL DESCRIPTION: CTRL PTN SW4 SW4( ry new neighborhoods: 10 plc j & 11 plc o Section 24, Township 11 South,Range l 3 East, G&SRB&M, Pima County, Arizona TAX CODE NUMBER: 219-20-004M RECORDS: Warranty Deed recorded August 14, 2006 in Docket 12867 at Page 6048 in the Office of the Pima County Recorder. SELLER: Southwest Properties Inc. BUYER: Vistoso Highlands Property LLC SALES PRICE: $5,659,656.00 TERMS: Cash SITE SIZE: 16.94 acres, more or less SALES PRICE PER SQ. FT.: $7.67 ZONING: PAD CONFIRMED WITH: Public Records; Affidavit of Value; Personal Inspection. 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' , l .. t Y ` , � S g ...!� 't� .;e�.y ' .._ .. ...+�`.'iyZA g�F :��✓a.� r om. 17 ,1„,,,..„ i'i � ���„ l , ;` � e n:r „..,.......„4,...;,,„,„,,,,„.,,,,,„ �4x r;.i J'E `q t •. :a'� F`� ' "�. - "�i „xs,'`�N.,r,,r `X_. • : a r ark {f;��k€�3K 4 ",��w�'r`,, ,rat,��� ,��, v,.�.�y`�,',' , a. .��r�1js' � J '.,..-..,,,,,',,Y-' rT ... 5 3`. wh•w } sr:.--,-,';',;,,„,,,„-i-';',4',.4'.wi ' ' ig,''''''r,::,,,Aii.:Iii,i4,;:,-;,,,,,`,.4.:-,2 -:',':-Y--",'"-.-,,'-:-_,..'..";',".,:''''''''''' '' ''' - '' -- ' ' ':' ' '''''' '-'' ;yh i �..,,}5 1,,,,,,,--1,,,,,,,,,3:74%.,,,,,..,,,,,,,, �dt,Ck� f �t ha �i i a •YsF, 5„t,e .J`` ww ..a. 'tFa g rr y”„,;,r. Property sale looking west as 2. t .i aF, 4,i ( 4- I i, , .,, r ;'-,-t?''''.Y 1.. '., Kik i „a; kr 3 t x41”' ' -,0 . 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X,i;y t w :, �'�YQ(•ot�`yofr. `,y. fir,, , +z ` ` .,M7' Property sale looking west COMPARABLE UNIMPROVED SALE THREE: LOCATION: West of Oracle Road on Rancho Vistoso and Morning Vista Dr. Oro Valley, Pima County, Arizona LEGAL DESCRIPTION: PT CNTRL PTN E2, SW4, LYG SE & ADJ RANCHO VISTOSO BLVD. Oro Valley, Pima County, Arizona TAX CODE NUMBER: 219-20-001C RECORDS: Special Warranty Deed recorded July 19, 2005 in Docket 12597 at Page 6044 in the Office of the Pima County Recorder. SELLER: JOSHUA & CALEB, LLC BUYER: TRANSWEST PARTNERS,LLC SALES PRICE: $950,000.00 TERMS: Terms SITE SIZE: 3.51 acres, more or less SALES PRICE PER SQ. FT.: $6.21 ZONING: PAD CONFIRMED WITH: Public Records; Affidavit of Value; Personal Inspection. COMMENTS: In comparison to the subject,the sale will require an upper adjustment for time and terms. 20 75.39'`� fli 0),,,....„ C!�•0 . n m ` N-� D� NooS9 '• OO M r D q L o '°o ''• (.."' q N ! 8 r- wrT • 535.12 i 0 co ri IQ Pi I 0 • • I pIW 7] N N (1) II WO ,41, ?•,,9,, �� ,- - U'al�oobn•oori�Inr,3 Go i.41. A -C R2O w: NQ J - b • U2 x j e�-al D� MI mow. „ m x rr_ R § c.,,-, pt's !',r— 1_. x� •y �a� o z m II ... a W ON u m x 0 O N tao o00 ov 4 c1 o" Mel Win= o O t-�!7'O w '' .. 3 et,h,---et',.t, ;e„.........-14 ta), N)Od 01' W 52801 (GLO) w , , z m iv ,, 1 2 As 260.00 '. m • •� R.\ t... o.C� l ° ,. ' o' cb +' `'?g w 438.02' cr Ir LQ ` I f 70 tv rr �it,k. Ss• .v ,.�(y, \/ •� ... 0 .�'' '444 C 1 1D'�A1 �Y r / 11 I D IV P �7 04':1 R 3 5.° t�,�,� w' 1 r ;, !� --�84. 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VS - . a .h f•c a.- C t - Property ~ ' .,,� .•'- , , _ of ' K.k � - ' .a "_ ' t �'My• h (es.-,•1 l .� �,� -t tF4ZJ6. fi ,4" S .� 21', kF.-.-,- } L, „`it; 3 a L '''''''.-4'-'-',,,.......--:---..--.' y + !^ ta t ,� &,: d hs,,',,,,,•--.,y t �-1r,----.1,,, 1V ,`J'. ?.� «Y� / ` ,.,"om,,rAr "�"yfatWkng east sale looi OFFER FOUR TO BUY PROPETY(SUBJECT PROPERTY) (DID NOT CLOSE): LOCATION: Rancho Vistoso and Innovation Park Dr. Oro Valley, Pima County, Arizona LEGAL DESCRIPTION: CTRL PTN E2 SW4 LLYG NELY & ADJ RANCHO VISTOSO BLVD 4.97 AC SEC 29-11-14 Pima County, Arizona TAX CODE NUMBER: 223-02-017M RECORDS: Special Warranty Deed recorded February 23, 1996 in Docket 10237 at Page 2166 in the Office of the Pima County Recorder SELLER: Overland and Vistoso Limited Partnership BUYER: Anthem Agreement SALES PRICE: $1,982,000 TERMS: Cash SITE SIZE: 4.55 acres,more or less SALES PRICE PER SQ. FT.: $10.00 ZONING: PAD--Cl CONFIRMED WITH: Per Bill Hallinan, Vice President, Cottonwood Properties 520-299- 8424 21 1), fU -*1 r w 3 ry CI) w tt n o o Cn ,...- — -< CD • /' .""',�-- -- ` 4 T�.. ' - ., ...is is .... r_ ..„„,:k,,.:,0- . V 1 . .,.., ,,,,<„, n7/. t"..4 tri CP 0 .""". Sib\\\4,,1 ri 44,N'7174 2N /^)\CJ) < ‘\• CA Z \ Z t:".1 / Af, ‹),/iN 04.-cio0o0 \ V; g-,,,,o' Z\) • E' .4 • \ 7 Ts Zn CJt s%O/0) co `, ti o ���/ 0 \ \ vt .00, OP co 0) \ t\rVil's CO CP N R. •�♦ is X29 ►.d to o . = a Cn �f rn .; � Com=] O %,-9(3� (.4.,„ �. \2::: : k COU , ,♦ . q`s <�i e,;sa.'''\,,,,2 . ./ 'b ,$.*,.•0 ')6> 0 ��� �,4L NN I LUGEDRNZ D i"'" i'...----.:•Faiiir CZ=3 I il Ctil a .." =*. ,2 tmJ 0 U1 �2�0 N4'.3' Flo, ' 0 I: V odd -:"2 0 AA 0 .. hp §1• 0 Q3 •-PE N / ^ .A 9/Of N , 1 / et X63 C,6 .v�`V. �.. �:.i `'r-"-�" ..��.�...■/ 800.00' �N ti� A —� . .� �.-• an" 1186x' p�¢t'i �'P rIa 1 44�43, 754.90' ?'0��'4 �� Cn I b ,. \ `66 4,2LOST ARTCT LANE ... 'P�Q )' i r: v 55404 ` I �. 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S.,*•E'�;♦ �`::w h.•y`tl,Ri -'F,�r z^a--.�*-,Y ."l5 -..- "„; ro r..-.+ y -'7 .i -P�5'ad 4,, ✓`-t"+'4:_s,.. x}1r h F V♦4':,tz� I�-„;r `'�' ;,... - •r - - - r> * w�7r ' i A N r ti,t I O Y NikR 1C++ _ .. . • ”Y'~ ' a.... N -Ri " +H'a Xry1 r' ` 1v',l 'b��." 'l. t. 'h. a.:t!M► S.i;tt y,`.l`+r. A' C'd � _` be i4 oii.�.< •,--., 'a • Subject property looking Northeast (wash area) mr OW k' (` .Itis'y ijrF> d- r.:9,;1.4-._,,:$,, Ar „adk% a +• ��, .l i Sr 3 E.. '' r .•. ` S '&)'•� �;. fire.��',',t��', '.CR �.. ���' S'f f, ', ' -i -- """' .,_ • . . 4 ..r ,Gr_ tG •;A ;,,d"ti-p w''''..,j",:' '''..R f 9^.'s. '}{''-,. r�:'a`d y• . Subject property looking Northwest(adjacent parcel under construction) p p Y COMPARABLE UNIMPROVED SALE FIVE: LOCATION: N of 1st Ave., E of Oracle Rd. on Henley Blvd.,Pima County,Arizona LEGAL DESCRIPTION: Foothills Business Park, Lots 11 & 12 and Pt Aband. Rdwy. TAX CODE NUMBER: 22040-016A, 017A RECORDS: Special Warranty Deed recorded March 3, 2005 in Docket 12501 at Page 4292 in the Office of the Pima County Recorder. SELLER: Glassworks of Oro Valley LLC BUYER: AJC Properties LLC SALES PRICE: $1,000,000 TERMS: Conventional SITE SIZE: 2.89 acres, more or less SALES PRICE PER SQ. FT.: $7.93 ZONING: PAD CONFIRMED WITH: Public Records; Affidavit of Value; Personal Inspection. COMMENTS: In comparison to the subject,the sale will require an upward adjustment for time and an upward adjustment for terms. 22 W LI rsl, r p U U 4. try O N Q O ¢o 0 0. 0 O o d co % .1 g,,Inrrr�NN f o \ pCiN o CO o Op W W W w W W W W O If) 0, l.� f'- O 6 In O O p�W, 0�N.7 W 2 In F- '2988888E8 0 0 0 0 0 8 p W J m �p�j�p o o�p r+nj C7 0 0 0 0 0 0° O- �nr 41Nh Com' g,iN05oN`Do �-"°00000 o c,_' W Q+CIIn NOD(`�C1.�.. 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Subject property looking west from Stellard Road 11! x'154 "^ �,�N::.—:',. ♦ =-„,'',-....'C.1:0§ v } t_"tet .7:7 r �� � .b �. kms` + , ,.., ,, ::''' , ,... „ !I':' .::::':, Is ► .A^ r 1 'S �'!�` a tii i fir. 3 s ~^,�y `r,. .+. A. 40000,. . '.I :.. ''� ,�r � � � q WSJ+rA�♦�•�•� ..s�,::`i1 ilk's.,, t l '...irli;'1,::/;-.0*,• ,-;.-----. r )':,..,..',. ' . ' '- '' :., --- Subject property looking northwest from Stellard Road. CORRELATION OF SITE VALUATION In developing an estimated value for the site, the appraiser employed four sales and one offer. These sales indicate an adjusted unit value range from $7.76 to $10.10 per square foot. Comparable Sale One and OFFER FOUR are located at the subject location in Oro Valley. The northeast corner of Rancho Vistoso and Innovation Park Drive is Sale One and adjacent east is the Subject/Offer Number Four. Comparable Sale Two is located approximately five miles northwest of the subject, on a paved street, with similar development characteristics and similar zoning. Comparable Sale Three is located approximately five miles northwest of the subject, on a paved road, while Comparable Sale Five is located approximately four miles south of the subject property with similar development and characteristics and similar zoning. In the final analysis, considering the subject's location, size, and stabilizing market conditions it is my opinion that the estimated value of the site is $9.50 per square foot or$2,056,685, rounded to $2,056,700. ESTIMATED MARKET VALUE OF SITE $2,056,700 23 NATURE AND EXTENT OF TAKE The nature of the taking is for a " Park & Ride Facility" as part of the RTA ( Regional Transportation Authority ) funding for such facilities in Oro Valley, Pima County. The extent of the taking on Rancho Vistoso and Innovation Park Drive on a parcel of land that contains 4.97 acres or 216,493 square feet. The "Take" is 1.65 acres or 72,068 square feet for the "Park &Ride Facility". This is an appraisal of vacant land only. The fee acquisition interests in property vary. The real property analysis often considers the"bundle of rights " ownership rights include the right to use real estate, sell it, lease it, enter it, give it away or choose to do none of the above. In fee simple acquisition, all rights are taken, 100% of the fee value. The value of the site before the acquisition has been valued at $9.50 per square foot, therefore, 72,068 SF X $9.50 is equal to $684,646 for the part taken. TOTAL ESTIMATED VALUE OF PART TAKEN $684,646 24 Site Analysis After The site, after the taking, will have the same rectangular shaped. The site will also have the same access as before the taking. Its size and shape is still adequate to be used as a potential site plus it will have access through the parcel to the west. (part taken parcel ) See letter in addendum. Highest and Best Use After The site size is still adequate for uses conforming to its existing zoning. The taking has not changed its potential uses. Site Value After Since the taking has not adversely impacted the site or changed its highest and best use, the appraiser will consider the same unit value of$9.50 per square foot as in the before valuation. Therefore,the estimated value of the site after, is as follows: Fee Estate 144,425 sq.ft. X $9.50sq.ft. = $1,372,037 Total Estimated Value Of Site After ROUNDED $1,372,000 ESTIMATED VALUE OF SITE AFTER: $1,372,000 25 RTA Park& Ride Legal Description The westerly 205 feet of the parcel more particularly described as follows: That portion of Section 29,Township 11 South, Flange 14 East, Gila and Salt River Meridian, Pima County,Arizona, described as follows: Commencing at the South Quarter corner of said Section 29; thence South 89 degrees 40 minutes 30 seconds East along the South line of said Section 29 a distance of 453.43 feet to the Westerly right-of-way line of Oracle Road; thence North 00 degrees 41 minutes 59 seconds East along said Westerly right-of-way line a distance of 835.90 feet to the Northerly right-of-way line of Rancho Vistoso Boulevard, recorded in Docket 7868 at page 1456, Records of Pima.County, Arizona; thence North 89 degrees 18 minutes 01 seconds West along said Northerly right-of-way line a distance of 453.83 feet, to the point of curvature of a tangent curve, concave Northerly; thence Westerty, along said Northerly right-of-way line, along the arc of said curve to the right, having a radius of 1425.00 feet and a central angle of 15 degrees 57 minutia 45 seconds for an arc distance of 397.00 feet,to a point of Intersection with a line radial to said curve, said point being the Point of Beginning; thence Northwesterly, along said right-of-way line, along the arc of said curve to the right, having a radius of 1425.00 feet and a central angle of 33 degrees 05 minutes 22 seconds for an arc distance of 782.97 feet; thence North 45 degrees 59 minutes 56 seconds East a distance of 351.55 feet; thence South 50 degrees 04 minutes 12 seconds East a distance of 572.48 tit; thence South 18 degrees 39 minutes 44 seconds West a distance of 283.08 feet to the point of Beginning. Said parcel containing 72,068 square feet or 1.85 acres, more or less. 1 • I `v illi. '. /. /ca.-4- SUMMARY ESTIMATED VALUE $2,056,700 VALUE OF PART TAKEN $ 684,646 ESTIMATED VALUE OF REMAINDER BEFORE $1,372,000 ESTIMATED VALUE OF REMAINDER AFTER $1,372,000 TOTAL RECOMMENDED COMPENSATION $ 684,646 27 ;,0. -} CID R) U.) w til o71o ru CID -< o #4.z--.....0 • `,.....-\ )/ • / /4/ z N. \ t:: Cf) / . 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'63.06- F'b ��A �`� �r �'� .�+ a, - it 800.00' N� k..P it-t- 86S• 04',d �'P 4I� 4q7q3 754.90' ?t 0`s bb ,<A_o IF LOS!p a' N 361.67' ..47111 , 2,,:b �-, W m RTIFACT LANE r F--, N>�' 554.04 \ ,9 n Z r'l NI ' N(V CD a I II -/ N ' ',,,i-c: + <$-1�„ ~ - (v1— W 0 • z W •s :o v ro .•,� `VS6 11` cfl CJ Iop CO O '� - -- c_, -�-^ �-- I sr�`•♦ '`-130:- �'►p-O- "C) 14753' b'7- I✓ ro ,a �` � % .♦.ra �� *-�-3 �6q� tv 7� O 9q ♦d' 1 o U] 0 ,, rn �„� i'• ►-• ►-b Z `► 8' ,S st`t 1 72' C=J U1 .a ,9 O 4 cn Cc a -` r+;+v ,A , CO A l\.) � \1 l!1 I t CI,l ,0 656.52 CD ' 361.67' P 1 2029.35tii w� I)f 6 6 �� ■ri. ori r 130'66.61 TUCSON FLORENCE HWY. r-r� r'° I W N r4._, TOWN OF ORO VALLEY ( v ttrltttttrtttttttt1111111111thttt111111111111,11t11111,11111trttetterrtttt,trlttrrr 1l11r1/t1 If 111111/111rr/trttrtt11,111t11/t1tt.lttt rllrrrttt 1”IrttttrLttlrtt11t1t1Lr1/1/Wl,rttrttrurtttttwrtttttrtrttttttr I V) O• (n o N III r-+cm m 4, t-..„''j r.—U1 S&) c, CO l_.__J x n co CO O o O, rn 1~ 2 ASSUMPTIONS AND LIMITING CONDITIONS This appraisal report is subject to the following assumptions and conditions, and to such other premises, conditions, and assumptions which may be set forth within the report. 1. That the term "Market Value," as herein used, is defined in the Arizona Revised Statues Sec.3, Section 12-1122, C. 2. That the date of value to which the opinions expressed in this report applies is set forth in the letter of transmittal. The appraiser assumes no responsibility for economic or physical factors occurring at some later date which may affect the opinions herein stated. 3. That no opinion is intended to be expressed for legal matters or that would require specialized investigation or knowledge beyond what ordinarily employed by real estate appraisers, although such matters may be discussed in the report. 4. That no opinion as to title is rendered. Data on ownership and the legal description were obtained from sources generally considered reliable. Title is assumed to be marketable and free and clear of all liens and encumbrances, easements, and restrictions except those specifically discussed in the report. The property is appraised assuming it to be under responsible ownership and competent management and available for its highest and best use. 5. That no engineering survey has been made by the appraiser. Except as specifically stated, data relative to size and area were taken from sources considered reliable and no encroachment of real property is assumed to exist. 6. That maps, plats, and exhibits included herein are for illustration only, as an aide in visualizing matters discussed within the report. They should not be considered as surveys or relied upon for any other purpose. 7. That no opinion is expressed as the value of subsurface oil, gas, or mineral rights and that the property is not subject to surface entry for the exploration or removal of such materials except as is expressly stated. 8. That testimony or attendance in court or at any other hearings is not required by reason of rendering this appraisal unless such arrangements are made a reasonable time in advance. 9. That there are no hidden or unapparent conditions to the property, subsoil, or structures, which would render it more or less valuable. The appraiser assumes no responsibility for such conditions, or for engineering which might be required to discover such factors. 28 10. That any distribution of the valuation in the report between land and improvements applies only under the existing utilization. The separate valuations for land and buildings may not be used in conjunction with any other appraisal and are invalid if so used. 11. That the appraiser has inspected the entire property. The appraiser takes no responsibility for hidden defects or conformity to specific governmental requirements, such as fire, building and safety, or occupancy codes, can be assumed without provision of specific professional or governmental inspections. 12. That information, estimates and opinions furnished to the appraiser and contained in this report were obtained from sources considered reliable and believed to be true and correct. However, no responsibility for the accuracy of such items is assumed by the appraiser. 13. That disclosure of the contents of this appraisal report is governed by the Bylaws and Regulations of USPAP. Neither all nor any part of the contents of the report, or copy thereof(including conclusions as to the property value, the identity of the appraiser, professional designations, or the firm with which the appraiser is associated) shall be used for any purpose by anyone but the client specified in the report without the prior written consent of the appraiser; nor shall it be conveyed (in whole or in part) in the public through advertising, public relations, news, sales, listings, or any other media, without such prior written consent. 14. Subject to satisfactory completion, repairs or alterations, the appraisal report and value. Conclusions are contingent upon satisfactory completion of the improvements in a workmanlike manner. 15. Unless otherwise stated in this report, the existence of hazardous substances, including without limitation asbestos, polychlorinated biphenyls, petroleum leakage, or agricultural chemicals, which may or may not be present on the property, or other environmental conditions, were not called to the attention of nor did the appraiser become aware of such during the appraiser's inspection. The appraiser has no knowledge of the existence of such materials on or in the property unless otherwise stated. The appraiser, however, is not qualified to test such substances or conditions. If the presence of such substances, such as asbestos, urea formaldehyde foam insulation, or other hazardous substances or environmental conditions, may affect the value of the property, the value estimated is predicated on the assumption that there is no such condition on or in the property or in such proximity thereto that it would cause a loss in value. No responsibility is assumed for any such conditions, nor for any expertise or engineering knowledge required to discover them. 29 CERTIFICATION THE APPRAISER CERTIFIES AND AGREES THAT: The Appraiser has no present or prospective future interest in the property appraised; and neither the employment to make the appraisal, nor the compensation for it, is contingent upon a requested minimum valuation, a specific valuation or the approval of a loan. The Appraiser has no personal interest in or bias with respect to the subject matter of the appraisal report or the participants to the sale. The "estimate of Market Value" in the appraisal report is not based in whole or in part upon the race, color or national origin of the prospective owners or occupants of the property appraised, or upon the race, color, or national origin of the present owners or occupants of the properties in the vicinity of the property appraised. The Appraiser has inspected the entire property. To the best of the Appraiser's knowledge and belief, all statements and information in this report are true and correct, and the Appraiser has not knowingly withheld any significant information. In accordance with the competency provision of the Uniform Standards of Professional Appraisal Practice, I have verified that my knowledge and experience are sufficient to allow me to competently complete this appraisal, unless otherwise stated within this report. All contingent and limiting conditions are contained herein (imposed by the terms of the assignment or by the undersigned, affecting the analysis, opinions and conclusions contained in the report). { The Appraiser certifies that, to the best of his knowledge and belief, the reported analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and the Uniform Standards of Professional Appraisal Practice. (USPAP) The departure Provision of USPAP was not utilized in this report. The Appraiser certifies that the use of this report is subject to the requirements of the Appraisal Institute relating to review by duly authorized representatives. As of the date of this report, George H. Garcia has completed the requirements of the Continuing Education Program of the Board of Appraisal. 30 All conclusions and opinions concerning the real estate that are set forth in the appraisal report were prepared by the Appraiser whose signature appears on the appraisal report and no one has provided significant professional assistance to the Appraiser signing this report. No change of any item in the appraisal report shall be made by anyone other that the Appraiser and the Appraiser shall have no responsibility for such unauthorized change. 4 (ig George H. tarcia Arizohia C-Iified General Real Estate Appr:iser#30297 31 QUALIFICATIONS OF GEORGE H. GARCIA PROFESSIONAL EXPERIENCE: 1991 - Present; G. H. Garcia Consulting, Inc.; President; Principal Appraiser; Principal Consultant of Right-of-Way and Relocation Departments. Head of Tax Appeals from 1991-2002. Duties include right-of-way and easement acquisitions for major public improvement projects. Has skill in preparation and review of real property appraisals and appraisal methodology. Is a Certified General Real Estate Appraiser, Certificate Number 30297, expiration date August,31,2008 who has made presentations to various Appraisal Review Committees. Has served on the State Committee for Appraisal Legislation and the State Appraisal Task Force. 1985 - 1990; Greenberg Garcia McCalley and Prosch, Inc., President; Principal Appraiser; Principal Consultant of Right-of-Way, Relocation, and Tax Appeal Departments. Responsibilities included right-of-way and easement acquisitions for major public improvement projects; duties included review, analysis and preparation of engineering plans,property descriptions, purchase agreements, deeds, leases, title documents, appraisals, appraisal reviews, property dispositions and exchanges, contract administration, site analysis, and escrow closings. 1979 - 1985; Pima County Property Management Department; Chief Appraiser. Was responsible for the coordination and review of public projects and intergovernmental agreements involving County and County Agencies, as well as utility companies. He was the review appraiser for the Alvernon/Valencia Corridor project, which involved approximately 200 properties. He performed about 200 appraisals per year. Responsibilities included right-of-way and easement acquisitions for major public improvement projects. 1971 - 1979; Pima County Assessor(s Office; Principal Appraiser. Supervised 10 employees in the mass appraisal of approximately 300,000 commercial, residential, industrial and vacant land parcels. QUALIFIED WITNESS FOR: Pima County Superior Courts. SCOPE OF PRACTICE: Mortgage Loan Valuations. Appraisals done for lending institutions to justify loan amount. Taxation Valuation. To establish value for ad valorem tax purposes. Litigation and Eminent Domain Appraisals. Done when a governmental agency seeks a property. Market Value for Private Negotiation Purposes. Determining lease value of rental properties. 32 Qualifications of George H. Garcia (Continued): Counseling/Consultation with governmental agencies and utility companies. Hearing officer for Arizona State Board of Equalization, 2002-present. Contract with State of Arizona. (Chairman, Harold Scott.) Property Management Officer for Pima County and extensive Right-of-Way experience. Vast experience in review appraising for the City of Tucson, Pima County, Arizona Department of Transportation, Bureau of Land Management, etc. Responsible for the negotiation and acquisition of hundreds of properties. Special training in integrative and bargaining negotiations. Has prepared numerous files and documents for eminent domain action. Legal,technical, and professional experience enables him to provide clients with the highest level of knowledge, skill, and ability in the interpretation and preparation of all types of real estate transaction documents, deeds, mortgages, leases, titles, property descriptions, as well as engineering plans, zoning and plat maps, and surveying. Clientele includes governmental agencies, corporate organizations, financial institutions, and other public and private organizations. PROFESSIONAL AFFILIATIONS AND MEMBERSHIPS: ARIZONA CERTIFIED GENERAL REAL ESTATE APPRAISER- #30297 (thru 8/31/0g) Candidate for SR/WA Designation, International Right-of-Way Association (IR.WA) President 1997 - (98, IRWA Chapter 73; International Director, 1999; Current Member Certified Appraisal Instructor for the IRWA Real Estate Broker(s License for the State of Arizona- BR024953000 Member of State Committee for Appraisal Legislation Arizona Registered Property Tax Agent#910090 Former Member of Minority and Women Business Enterprise Commission Member since 1990 of Hispanic Professional Action Committee (HPAC). PROFESSIONAL EDUCATION: International Association of Assessing Officers courses completed, as follows: Market Approach- 1975 Cost Approach- 1976 Fundamentals of Real Property Appraisal - 1978 National Highway Institute courses completed and successfully passed, as follows: Appraisal Review on Federal Aid Highways and Related Programs - 1981 National Highway Inst. Appraisal Policy and State and Local Acquiring Agency Assistance - 1982 Appraisal Under Eminent Domain for Federal Highways and Related Programs - 1982 33 Qualifications of George H. Garcia (Continued): 501 Relocation Assistance- 1985, IRWA Real Estate License- 1985 Construction Civic Blueprint Reading - 1985, Pima College 407 Valuation of Contaminated Properties - 1996 Easement Valuation- 1981, IRWA Advanced Communication Skills- 1982, IRWA SEMINARS AND COURSES: 1984 Land Titles - International Right-of-Way Association. 1985 Income Approach to Right-of-Way - International Right-of-Way Association. 1985 204 Group Communications, IRWA. 1985 101 Principals of Real Estate Acquisitions, IRWA. 1986 401 Appraisal of Partial Acquisitions, IRWA. 1987 Instructor(s Certification Clinic - Appraisal, IRWA. 1991 The Uniform Standards of Appraisal Practice, State of Arizona, Dept. of Real Estate. 1991 Instructed 101 Appraisal Segment for International Right-of-Way Association. 1991 Certified General Real Estate Appraiser for the State of Arizona, Board of Appraisal - Certificate #30297; certified through August 31, 2006. 1992 Appraisal Skills and Theory Update; Hogan School/Don Baker; ten hours. 1992 Tucson Master Planned Communities; Tucson Association of Realtors; three hours. 1992 Litigation Valuation; Master Prep School; fifteen hours. 1994 Appraising Small Residential Income Producing Properties; Master Prep School; 16 hrs. 1995 Arizona Tax Conference; How to Be a Witness; Board of Equalization Dialogue; Arizona(s Changing Property Tax Structure; eleven hours. 1995 Hogan School of Real Estate; Broker(s license; ninety hours; passed state exam. 2000 USPAP 2000; 15 hrs. 2000 Real Estate Courtroom Bankruptcy; 3 hrs. 2000 How Stigmas Affect Property; 3 hrs. 2000 Highest and Best use Analysis for Residential Properties; 3 hrs. 2000 Fair Housing: Answering the Question; 3 hrs. 2000 Water in Arizona: Laws, Agencies and Issues; 3 hrs. 2001 Fair Housing in America- The Basics; 3 hrs. 2002 Uniform Standards of Professional Appraisal Practice; 15 hrs. 2002 Water in Arizona: Laws, Agencies and Issues; 3 hrs. 2002 The Legal Aspects of Foreclosures; 3 hrs. 2002 Highest and Best Use Analysis for Residential properties; 3 hrs. 2002 1031 Tax Deferred Exchanges in Today(s Market; 3 hrs. 2003 Agency Risk Reduction; 3 hrs. 2003 Gender Discrimination; 3 hrs. 2003 Water in Arizona: Laws, Agencies and Issues; 3 hrs. 34 Qualifications of George H. Garcia (Continued): 2003 The Code of Ethics in 21st Century Arizona; 3 hrs. 2003 Broker Management Clinic; 3 hrs. 2004 Mold: Facts and Fictions; 3 hrs. 2004 Getting through the Environmental Maze; 3 hrs. 2004 1031 Tax Deferred Exchanges in Today(s Market; 3 hrs. 2004 The Legal Aspects of Foreclosures; 3 hrs. 2004 Uniform Standards of Professional Appraisal Practice; 15 hrs 2005 Practical Use of the I.R.C. Sec. 1031 Exchanges ABA 0203-269; 3 hrs. 2005 Fair Housing Case Studies; 3 hrs. 2005 Practical use of the I.R.C. Sec. 1031 Exchanges; 3 hrs. 2005 Common Pitfalls in Writing the Contract; 3 hrs. 2005 Agency Law: Understanding Its Protections for Today's Agents; 3 hrs. 2005 Broker Management Clinic; 3 hrs. 2006 Uniform Standards of Professional Appraisal Practice; 7 hrs. 2006 Eminent Domain; 7 hrs. 35 ADDENDUM 36 a y i ,..,,, ,, a ,,... ,-„,..-:,...-.4_, "`� be-i >tF a 4 '+' .k ,#4,. _ i&s _ a _.,meq.• �,„��:i {,�• `*44.4,,,,i-.0.,'.:...4',4,i,..'�,.. � �. 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''''.`:' ''''.'":''''''-'.'':' *-i':','--, ;`,•;--4...*;:-.44..„,,,:-1,*!:"',46,•,,,, a . , a -,:-,*--i y.'�4;. 1'+��''ar`.?k.'"�e��'ti:r. c rt-,-•-_ .. ,,.. -or •,, r b ' ~ _ `.'.y ♦ v fir. '. 4} € y 1 Subject property looking Northeast(wash area) e. ,411111111111pPlir . , .. . _ ., ,..._., ,.., - ; , ,..._ .._., _, __ . . .. ,,_ . ... :. . .,..„. ., . — , . . .. •• . , ,. ,,, ' A ' - , , - - , , ., �w.r,wtwNi _ - .,,,,,,- ,,— ,,r, , . is, , ,,,,, , y, .,.,,_,... .-- , - ,.., s _. . , , . , ,,,,,,, ,_ , , ,. 4,... ..„, „ .. , v ._ .,,,;-',4*..,.. :-:--$1.,.,.,,,i1-._ - . 1-'-' - .... , ...--,,, ,i, ,...., ,_,,,,,,,:.,,,,,., .: -.",_...,,,,,,,:-.... ',,,,,- - .-, -.,.-,,,,,:,-,0,-.„:,..,,,:,, ,--.- , ,,,.._., „ , -r z.. r . ,:: ._ ,"4 .,1 t—..t" i ' ,, . , , ' .,,,..,, _ _. , , ,,,_,,,,,,,,f,, r , w yj n y a s` . r x- LF u w s Subject property looking Northwest (adjacent parcel under constructi on) G.H. GARCIA CONSULTING, INC. Real Estate Appraisers Right of Way Acquisitions and Relocations 3444 N. Country Club Rd., Suite 100 Tucson,AZ 85716 Telephone: (520) 326-2200 Facsimile: (520) 326-0773 October 11,2007 Attn: Mr. Bill Hallinan OVERLAND VISTOSO LTD PARTNERSHIP 3 567 E. SUNRISE DR. STE 219 Tucson, AZ. 85718-3204 Re: Appraisal of Subject Property 223-02-017M Dear Property Owner: Town of Oro Valley is seeking So acquire a portion of the subject property for a Park&Ride facility. According to Pima County Assessor's records,this property denoted above, is in your ownership. In order to estimate the market value,we have been requested to appraise the property sought by the Town.of Oro Valley. Since it is the Towns practice to offer the owner an opportunity to accompany us on the inspection,we ask that you please contact us at 326-2200 AS SOON AS POSSIBLE. If the phone is unattended,please,leave us a message and we will get back to you right away. If I do not hear from you by October 17, I will assume that you do not wish to accompany us on the inspection. The appointments will be done in the morning. If you wish to provide sales information and terms of the adjacent parcel OR any other similar property please do so as soon as possible. Thank you for your attention to this letter. Sincerely, )1e.,A77_52GEORGE H. GARCIA CERTIFIED GENERAL REAL ESTATE APPRAISER GHG:jg z ti Luc.'t 14:lb 142-1022 PAGE 01/0:2 TOWN OF ORO VALLEY FAX TRANSMITTAL COVER September 27,2007 From: Fernando Fritz Laos To: George Garcia Phone: (520) 229-4818 Fax: 326-0773 Fax: (520)229-4899 RE: Floodplain designation request for Parcel# 223-02-017M Number of pages: 2 including cover George, This form indicates that the parcel in question is outside the 100 year and the 500 year floodplain (X-uashaded). Thank you Fritz Laos to -2 t t zuil i 12:16 742-1022 PAGE 02/02 r tt: ee.1,040.08.0 L-410 '5 Y FLOODPLAIN REQUEST FORM 4't.', eN l'ii doiiii TOWN OF ORO VALLEY I IF Public Works Department 11000North Garb Drive #%,-VAIP114.. ,_,rOro Valley, z 85737 '' �, Phone: 2294800Fax. 2294808 Requested By: George Garcia Resident YES 0 Company:G.f#, 1A CONSULTING INC. idr s: 3444 N. COUNTRY CLUB -100 • Phone Numbers ( 520 )3262200. • Fax Number ( 52O )$28-0773 > Subdivision: If applicable, pleaseprovide rovi Phase I Village/Block I Neighborhood t Parcel I Unit# Lot Number: Property #d+ : . . P 'l#/Tax ID ft (9dig ): ,2.23., oz, 0 r To: ( O) 229-4890 An:Floodplain Request OFFICIAL TOWN OF ORO VALLEY USE ONLY'- DO NOT more Aas_w_rp, PLAT Bk pg sheet. Fe r.8 '00 Atshodect as1 aded xahaded xuP#llad9d 04019C 1020 1025 i 105 1039 1040 1045 1610 1630 REMARKS . ielFORMATIONI The subject property Is&WWII on the Februmy 8, 1999 FIRM (Flood Insurance Rate Map Community v.Panel Number -.10 7 0 K )as being in Zone X which Indicates that the area is outside the 500-year Wad limit. it shoutd be ncyted that this determination lies only to the known,mapped sources of potential fo in r potantiai .4, r localized floodirg may exist. 1 /z V.0 7 ' Researthed her. .....�.�... ..�. ResearchDate SIG T� FOR, OF .e VALLEY INFORMATION RitIAILYE,D; 1:1 Man li u a Pte* Person ELEAKMAESairin A 5+M0 FLOODPLAIN REfiEIN fa IS REQUIRED PER REQUEST PRIOR TO RESEARCH. Ri Ir N�11z vioNvn HD SIL ''2C@Z 81,:a / /60 Page 1 of 1 222r a Garcia From: "Keesler, Paul" <PKeesler@orovalley.net> To: Cc: "Faaborg, Steve" <sfaaborg@orovalley.net>; "Rodriguez, Jose" <jrodriguez@orovalley.net>; "Trenary, Phillip" <ptrenary@orovalley.net> Sent: Friday, October 05, 2007 4:43 PM Subject: TOV Park-n-Ride George, As per our phone conservation, the Town will require the developer of the parcel identified as the TOV Park-n- Ride area to grant a cross access easement to both the existing Vistoso Memorial Chapel as well as the future parcel created by this development. Said easement shall grant full access to the existing driveway curb cut on Rancho Vistoso Boulevard. Also, in order to create the park-n-ride parcel from the existing property, a full subdivision platting process will be required. This was a stipulation placed on the property during the original Vistoso Memorial Chapel lot split/development. Paul Keesler, P.E. Development Review Division Manager Town of Oro Valley Email: pkeesler c rovalley.net Phone: 229-4811 Cell: 906-4270 Fax: 229-4899 10/5/2007 A) COMMUNITY COMMERCIAL (C-1) 1) Purpose: This district is intended to provide both for neighborhood and community shopping. The district provides for retail and service establishments which supply commodities or perform services to meet the daily needs of the neighborhood and shall be in locations where analysis of residential population demonstrates that such facilities are justified. In addition, this district is intended to provide commercial activities designed to serve the community. It may include uses associated with the central business district. 2) Permitted Uses: a) Uses allowed in the C-1 district in Oro Valley Zoning Code Revised b) Other Uses: 1. Private school 2. College or governmental structure 3. Community service agency 4. Library or museum 5. Playground or athletic field 6. Hospital or sanatorium 7. Clinic or dispensary 8. Club 9. Private club or lodge (nonprofit) 10. Child care center 11. Professional or semi-professional office 12. Real estate office 13. Insurance adjuster's office, which may include a drive-through facility 14. Motel or hotel, together with the following accessory uses located on the premises and having no exterior entrance closer than one hundred feet to a public street a. Retail shops b. Personal services c. Recreational facilities d. Restaurant e. Beverage service 15. Antiques stores 16. Apparel store; 17. Art needlework or hand-weaving establishment; 18. Art gallery or store: The "patio" architectural design concept is allowed; 19. Art or drawing supply store; 20. Auto mechanical repair: provided there is no outside storage of autos or parts, and no body or fender work, painting or upholstering; 21. Auto parking lot (within or without a building): 22. Automobile accessories, parts and supplies; provided, that there is no installation, repair, rebuilding, modification, or outside storage of parts on the premises; 23. Automobile lubrication and oil change operation; 24. Automobile tires, batteries and accessories installation in conjunction with a department store; 25. Bakery; 26. Bank; including drive through facility 27. Barbershop 28. Beauty shop; 29. Bicycle shop;No sales or servicing of motor scooters or motorcycles; 30. Billiard or pool hall; 31. Book, newspaper, or magazine store; 32. Cafe or lunchroom; 33. Catering service; 34. Cigar store; 35. Cleaning, dyeing, laundry collection agency; 36. Confectionery store; 37. Custom dressmaking, millinery,hemstitching or pleating; 38. Custom weaving or mending; 39. Dealer in coins, stamps or similar collector's items; 40. Delicatessen 41. Dental laboratory; 42. Department store; 43. Drug store; 44. Dry goods or notions store; 45. Electrical appliance store; 46. Fix-it shop, small appliances; 47. Florist shop; 48. Frozen food locker; 49. Fruit or vegetable store; 50. Furniture store; 51. Garage: for public storage only; 52. Gasoline service station: Subject to: No gasoline or other flammables be stored above ground level, except in legally accepted containers of fifty- five gallons or less and no more than three such containers, 53. Gift, curio, or novelty shop; 54. Grocery store; Convenience Store 55. Hardware store; 56. Hotel; 57. House furnishing store; 58. Ice cream store: The "patio" architectural design concept is allowed; 59. Ice station: For packaged sales only; 60. Interior decorator; 61. Jewelry and watch repair; 62. Jewelry store; 63. Laundry and dry cleaning units, provided the same occupy no more than three thousand square feet of gross floor area; 64. Leather goods store; 65. Library: Rental or public; 66. Liquor store: For packaged sales only, including wine tasting; 67. Locksmith; 68. Meat, fish or dressed poultry market, provided no live poultry are kept on premises; 69. Mechanical and electronic games arcade: In districts containing a minimum of four commercial acres and at least seven thousand eight hundred square feet of net leasable area; 70. Medical laboratory; 71. Messenger office; 72. Music,phonograph or radio store; 73. Nursery: Flower, plant or tree (within a building or enclosure); 74. Office: Business, professional or semi-professional; 75. Orthopedic appliances (trusses, wheelchairs, etc.); 76. Pet grooming 77. Pet shop; 78. Photograph studio; 79. Photographic supply store; 80. Postal station; 81. Pressing establishment; 82. Reducing salon: Not to include massage establishments; 83. Refreshment stand; 84. Safe depository; 85. School : Barber or beauty culture; 86. School: Business; 87. School: Dancing; 88. School: Dramatic; 89. School: Handicraft, painting or sculpture; 90. School: Music; 91. Self-service car wash; 93. Shoe repair shop; 94. Shoe store; 95. Sporting goods, hunting and fishing equipment store; 95. Station: Bus or stage; 96. Stationery store; 97. Tailor shop; 98. Taxicab stand; 99. Taxidermist; 100. Theater: Except drive-in or outdoor theater; 101. Tire store: Including incidental repair of shocks and brakes with no outdoor storage or display; 102. Tool or cutlery sharpening; 103. Toy or hobby shop; 104. Trust company; 105. Variety store; 106. Veterinary outpatient clinic for small animals; a. No boarding allowed; b. Overnight confinement for clinic treatment permitted for a maximum of five animals; 107. Wallpaper sales, paper hanging; 108. Water,telephone or telegraph distribution installation or electrical receiving or distribution station (within or without a building); 109. Other similar enterprise or business of the same class, which in the opinion of the Town Council is not more obnoxious or detrimental to the welfare of the community than the enterprises or businesses above enumerated. c) Accessory building or use (not involving open storage): When located on the same building site. d) Administrative, engineering, scientific research and development, design or experimentation facility, and such treatment, processing, and fabrication as may be necessary thereto; provided that: 1. All such operations be completely housed within buildings located on a site of not less than ten thousand square feet; 2. All such buildings shall be set back not less than twenty-five feet from any property line abutting a residential zone; 3. A dust-proofed, off-street parking area be provided for all vehicles incidental to said operation; 4. One additional parking space be provided for each three persons regularly employed on said premises; 5. A masonry wall or a screened planting, not less than five feet high, shall be erected and maintained on any property line directly abutting any residential zones; 6. Any activity conducted on said premises shall be free of dust, noxious smoke, fumes, odors or unusual vibrations or noise discernible beyond the property line; 7. The architecture of all structures shall be compatible with the surrounding area; and 8. All open areas of an improved lot shall be maintained in a dust-free conditions by landscaping with trees, shrubs, suitable ground cover, undisturbed natural growth, or by covering with material that will provide an all-weather surface. e) Restaurant, including a restaurant liquor license, or a restaurant including a drive through facility f) Trailer or manufactured or mobile unit for temporary office use: Only during the construction of a permanent building not to exceed a period of twelve months. g) The following additional uses: 1. Blueprinting; 2. Photo stating; 3. Engraving,photo-engraving; 4. Duplicating, mimeographing, multigraphing; 5. Addressographing; 6. Newspaper office; 7. Printing or publishing 3) Property Development Standards a) Building Height: 34 ft.,three stories b) Setbacks: Where the Commercial Zone abuts a residential zoning district, adequate screening between zones shall be provided. 1. Front: 20 feet 11. Rear: 25 feet c) Distance between Buildings: 10 feet d) Landscaping Requirements: Any part of the lot not required for buildings, structures, loading and vehicular access, pedestrian walks, and hard surface areas shall be landscaped according to the Rancho Vistoso or Sun City Vistoso Design Guidelines, as applicable. e) Open Space Requirements: There shall be a minimum of 10 pc. t=of the total area retained as open space. 4. Types of Commercial Uses/Commercial Development Standards The location of all the C-1 and C-2 districts are shown on the PAD Development Plan. The allowable uses for each of these districts are contained on the following pages under"Uses". The standards of height, setbacks, open space and required yards for the C-1 and C-2 districts are contained on the following pages. Commercial illustrative sections follow and graphically portray the conditions that the modified standards will produce. Real Estate froperty I ax intormation rage 1 oi 1 _.--------„, 71V- kl-C 1711#1:1 '\\\\ Beth Ford I ' I Pima County Treasurer i\\...._. \-:110:i0144 . Parcel: 22302017M 8 Total Taxes: $12,053.18 Tax Year: 2007 As of Date: 08/31/2007 CURRENT STATUS PARCF! INFORMATION First Half Second Half Area Code: 1012 Tax Due: $6,026.59 $6,026.59 Date Paid: Taxpayer Name/Address: Method: OVERLAND VISTOSO LTD Tax Paid: $0.00 $0.00 PARTNERSHIP Paid By: ATTN: W J HARRISON & ASSOCIATES P Trans Type: C Interest Paid: $0.00 $0.00 3561 E SUNRISE DR STE 201 TUCSON AZ 85718-3204 TAX DUE SUMMARY First Second Total Property Address: Half Half Year Taxes: $6,026.59 $6,026.59 $12,053.18 Interest: $0.00 $0.00 $0.00 Legal Description: $6,026.59 $6,026.59 $12,053.18 CTRL PTN E2 SW4 LYG NELY & ADJ NSF Fees $0.00 RANCHO Reclaimed Refunds $0.00 VISTOSO BLVD 5.70 AC SEC 29-11-14 TOTAL AMOUNT DUE $12,053.18 HISTORY TAX ROLL CHANGE 2006$4,050.72 2005 $0.00 2004 $0.00 2003 $0.00 2002 $0.00 http://www.to.co.pima.az.us/tools/jsp/re_tax_inquiryjsp 8/31/2007 223-U2-U11M Pima County Assessor Unline 1-'age 1 of Eit t ,it fit sessci r rittitertv EnareharLIEty.---aith earatitificiret ruti-v TRY SIM1MMIPV CILORRIBINV tang; 22302017M Go 4 „, Book-Mart-Pareil: 111-ii7-111Th1 TaxArea: 11)12 Taxvear: 70117 TaxPaver information Recording Information ( 1-0---ki A Nil ) ( )C,( 11) P RTM--"R P narkiit I n-117 P Cr IIn n 9 tP hi-2 3 1,17 T IT A TT)T C irAN.T Pr A C C: , T A 7" D 1 et 9* eZ:s.I r.,7 C1 11 TX I C1 C'VC '11-1I 7"T C Th T A 7 Miceellariemls X7 C*/311 Tvivr ; ; t Lnu F /10 /IA r a r-k-ettk.rt,'„ia: Description RuleB DIstnet: TI-?I VIN 1.-2 SW4 I VI NI-1 V X- 41)1 R A NCH( Tr.:Art Rink I nt V I S TO SO BLVD 5.70 AC S - flctii nf I ,9 4;14:- Chtincip As 4r, 1,1kT rin 44. "§"N 4, Secondary Valuation Ve A p titi t-ercentag-e Data p:nerf t NT/ ( It 4'7 A f iIQH -imnrcurnpnt-c: V A tr" , VII1(4 ill 1/4k;;(1, 0 7 PP,rc: n 54 IITnI1rfv L / L1 TQQ ( -I IIt 'NAVY VirrrtiNCNTI vp.ritr,rwi;,.krt, Not 7JJ TTQQ I 10 if ritrI m t ri -7,SZ C! ! t11 (Lj,N) "SR c irnitpd RuhN 'Inn'? 4-141111 A. http://www.asr.pima.gov/APIQ/APIQ.aspx 8/31/2007 223-02-017M Pima County Assessor Online Page 2 of 2 Areas rnr: N hArli ink 0 01 l'ilf,FR NI picih het r h 4-401 ti ri Recordin2s1,0,17 A 7146d A gaRR A qUI Owner's v,stun,fite . .._ Map Selection(s) UI (Iwo 11 I V 0 1 k !„.„. ":006 RESIDUE OF 221-02-0171 , AFTER 12 /tr:,/82 / . 1/05. ARF arceiNote: _ _ _ .L.tx ,s-ir.e0 Al N4 LP ' • E ' ' t VIIRAV\27058277.1111198 8°11= 14v 111 SO FT VACANT FR - At, . shy& Feb-27-2006 - APht fr -17 SFCT 74t;..T Art 4 c Trr or".1 1%.T rir A. XT 171, 110: (-"Lii :4, NT in 117 NT T Ae„ Tr esantarr A 2006 c*: T-flfll.F I rrr,!k nu'T"`et 17 I 1-1 VI A, ri 7"1- 11 T ITrz an.17 RFATIF vu dteno Dec-70-1006 http://www.asr.pima.gov/APIQ/APIQ.aspx 8/31/2007