contact & affiliated businesses 35 -...

Executive Summary 4

Vesting Tentative Map #5427 5

Site Plan 6

Site Photos 7

Location 8

General land Use Map 10

Education 11

New Home Communities 14

Local Overview 19

Regional Overview 20

Demographics 22

Offering Instructions 25

Due Diligence Materials 26

Confidentiality & Disclaimer 28

Disclosure Regarding Real Estate Agency Relationship 30

Contact & Affiliated Businesses 35

Per a report from J.T. Kruer, Development Costs are expected to

be $62,409 and Fees are estimated to be $49,880.

In addition, there is an estimated $250,000 cost for the open

space mitigation. Also, a Traffic Mitigation Fee of $530,622 is a

Condition of Approval.

The 401 Permit was obtained in January 2015.

The 1602 Permit was approved in March 2015.

The 404 Permit was obtained in May 2015.

There is no CFD on this property.

Sewer: Rainbow Municipal Water District

Water: Rainbow Municipal Water District

Gas & Electric: SDG&E

Telephone: SBC

Public Schools:

Bonsall Unified School District (“BUSD”)

Bonsall Elementary School (K-5)

API: 896 State Rank: 9

Sulivan Middle School (6-8)


Bonsall High School (9-10)

API: N/A State Rank: N/A

Fallbrook Union High School District (“FUHSD”)

Fallbrook High School (11-12)


Private Schools:

Alpha and Omega Academy (K – 12)

Ashwet Patia School (2-12)

Calvary Christian School (K-12)

The Property is located between West Lilac Road and Camino

del Cielo in the unincorporated area of Bonsall, San Diego

County.

126-060-77 & 126-430-01

± 56 Gross Acres Subdivided into 2 Lots.

o The 76 Detached Condominium Homes will be located on

±8.4 acres in the western portion of the property.

o The remaining ±47.5 acres will be used as Open Space.

2,650 SF (34 x 78)

Bonsall Group, LLC

The Property is currently in an unimproved condition.

The property has an Approved Vesting Tentative Map #5427 for

76 Detached Condominium Homes (April 2008).

Vesting Tentative Map No. 5427 has been extended to April

2017.

Future Extensions for VTM #5427 may be available.

Village Residential (VR-20) & Semi-Rural Residential (SR-2)

Gently rolling hills with a portion of flat land where the 76 units

are planned to be built.

There will be a monthly HOA fee, currently estimated at $170, for

maintenance of the slopes and front yards.

The State Rank is determined by a school's API Score in comparison to all other schools in

California. (1 is the worst, 10 is the best). An equal number of schools occupy each rank. This

rank comes from the 2013 California Academic Performance Index (API) Base report.

The API Score is a number between 200 and 1000 that reflects a school’s or school district’s

performance on statewide student assessments .

Regional Map

Local Map

Camino Del Cielo is conveniently located between West Lilac Road and Camino del Cielo with easy access to both State Route 76 and

Interstate 15 (“I-15”) as well as employment centers throughout the Riverside, Orange, Los Angeles, and San Diego counties. Due to its

location, future residents of the Property will enjoy the amenities of adjacent residential & retail developments as well as Resorts and

Country Clubs.

The Property is served by two school districts including the Bonsall Unified School District (“BUSD”) serving Kindergarten through 9th

grade, Bonsall High School (“BHS”) serving grades 9 through 10 and Fallbrook Union High School District (“FUHSD”) serving grades 11

through 12. Bonsall High School will become the primary high school within the next two years, serving all students grades 9 through 12.

BUSD is composed of 2,260 students across five schools including Bonsall Elementary School (K-5), Bonsall West Elementary School

(K-6), Vivian Banks Charter School (K-5), Sullivan Middle School (6-8) and Bonsall High School (9). FUHSD is composed of over 3,000

students and is home to Fallbrook High School.

Sources: Bonsall Unified School District, Fallbrook Union High School District and Land Advisors Organization research

State Rank: 9 API: 880 State Rank: N/A API: N/AState Rank: 9 API: 896

Fallbrook High School

Sullivan Middle School

Bonsall Elementary School

Distance To:

Bonsall Elementary School 0.6 miles (2 minutes)

Sullivan Middle School 3.3 miles (8 minutes)

Bonsall High School 2.6 miles (8 minutes)

Fallbrook High School 5.6 miles (11 minutes)

State Rank: 5 API: 751

Bonsall High School

Private schools, also known as independent schools or non-state schools, are not administered by local, state, or national governments;

thus, they retain the right to select their students and are funded in whole or in part by charging their students' tuition, rather than relying on

mandatory taxation through public/government funding. Some private schools provide their students with scholarships, which makes the

tuition cost cheaper depending on a talent the student may have (e.g., sport scholarship, art scholarship, academic scholarship, etc.).

Religiously affiliated and denominational schools form a subcategory of private schools. Some such schools teach religious education,

together with the usual academic subjects to impress their particular faith's beliefs and traditions in the students who attend. Others use the

denomination as more of a general label to describe it’s founders beliefs, while still maintaining a distinction between academics and

religion.

Many educational alternatives are privately financed. Private schools often avoid some state regulations, although in the name of

educational quality, most comply with regulations relating to the educational content of classes. Religious private schools often simply add

religious instruction to the courses provided by local public schools.

There are eight (8) private high schools within 10 miles of Camino Del Cielo, serving 1,939 students. The following private schools are the

closest Co-ed private schools that serve grades (K-12) offering educational alternatives to BUSD and FUHSD:

Sources: Great Schools, Private School Review, and Land Advisors Organization research

Fallbrook High School

Sullivan Middle School

Bonsall Elementary School

Alpha and Omega Academy (K-12)

Ashwet Patia School (2-12)

Calvary Christian School (K-12)

The competitive area for the project is generally defined as the projects falling within the cities of Bonsall, Fallbrook, Vista and Escondido.

This determination was made predicting the home buyers interest and likelihood of considering other nearby communities. There are

currently nine (9) new home communities within the competitive market area. Of these, one (1) is located within the community of Bonsall.

In addition to the below, a Burns marketing report is available for Camino Del Cielo. For access to the Burns marketing report, please

contact Cynthia Lokovic at [email protected].

Sources: Real Estate Economics and Land Advisors Organization research (Q1 2016)

1 Level 15Zephyr

Partners63 40 6 Olive Hill Pardee 37 6

2 Andalucia at Harmony Grove CalAtlantic 129 5 7 Malabar RanchDavidson

Communities21 12

3 Canteridge at Harmony Grove CalAtlantic 71 10 8 Laurel Pointe Pulte Homes 159 84

4 Lusitano at Harmony Grove CalAtlantic 97 9 9 Serra Shea Homes 73 21

5 Seabreeze at Harmony Grove CalAtlantic 109 8 Camino Del Cielo Absorption rate predicted - 3.5 sales/month

Bonsall

Escondido

Fallbrook

Vista

mailto:[email protected]


$400,000

$450,000

$500,000

$550,000

$600,000

$650,000

$700,000

$750,000

$800,000

$850,000

$900,000

$950,000

$1,000,000

$1,050,000

$1,100,000

$1,150,000

$1,200,000

1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000

Bas

e P

rici

ng

Square Feet

Level 15 by Zephyr Partners (1,452 SF) Andalucia at Harmony Grove by CalAtlantic (3,000 SF)

Canteridge at Harmony Grove by CalAtlantic (3,000 SF) Lusitano at Harmony Grove by CalAtlantic (1,600 SF)

Olive Hill by Pardee Homes (10,000 SF) Seabreeze at Harmony Grove by CalAtlantic (3,000 SF)

Malabar Ranch by Davidson Communities (21,780 SF) Laurel Pointe by Pulte Homes (5,000 SF)

Serra by Shea Homes (2,000 SF) Camino Del Cielo (2,650 SF) Subject Site

Bonsall

Escondido

Fallbrook

Vista

Subject Site


| |

Open Date Q1 2015 Total Planned 63 Price Range $416,990 - $449,990

Product Type Attached Total Sold 40 Home Size 1,690 - 1,918

Levels 2 & 3-Story Total Remaining 23 Price Per SF $235 - $247

Min Lot Size 1,452 SF HOA $297 Tax Rate 1.20%

|


Product Type Detached Total Sold 5 Home Size 3,027 - 3,640

Levels 2-Story Total Remaining 124 Price Per SF $218 - $246


|




Min Lot Size 3000 SF HOA $200 Tax Rate 1.25%

|





|






|





|

Open Date Q2 2014 Total Planned 21 Price Range $995,900 - $1,179,900




|



Levels 1 & 2-Story Total Remaining 75 Price Per SF $177- $266


|





|

Open Date TBD Total Planned 76 Price Range $474,000 - $483,000



Min Lot Size 2,650 SF HOA $170 Tax Rate TBD

Source: County of San Diego, Economic Research, California Department of Finance, California Association of Realtors, and Land

Advisors Organization Research

The community of Bonsall is located in the foothills of the

Peninsular Mountain Range in the unincorporated area of

northern San Diego County. Bordered by the community of

Fallbrook to the north, City of Oceanside to the west, community

of Valley Center to the east and City of Vista to the south, the

south-most border of the Bonsall Community Plan is

approximately 40 miles north from downtown San Diego.

Bonsall is characterized by a series of hills, valleys and drainage

areas resulting in a predominance of low density estate type

residential lots and agricultural land uses. Also characterizing the

Bonsall area are golf courses, resorts, and equestrian facilities.

The community of Bonsall enjoys climates similar to the

Mediterranean region with an average temperature of 72 degrees

year-round.

The Property has convenient access to State Route 76 and

Interstate 15, which are minutes from the Property. The Interstate

15 provides further access to the State Route 78 and State Route

76 provides further access to Interstate 5. Also nearby, Highway

13 provides a thoroughfare connecting State Route 76 to State

Route 78.

When looking to reside in Bonsall, there are many positive

variables to consider. Bonsall’s quality of life index is higher than

California overall and, more specifically, scores well in the

amusement, culture, medical and restaurant indexes.

Index score: (100 = National Average) for an area is compared to the national average of

100. A score of 200 indicates twice the national average, while 50 indicates half the

national average. (Source – CLR Search)

Bonsall residents have access to 14 doctors offices within the

community boundaries and 59 acute care hospitals within 60

miles.

Quality of Life Index 200 196 100

Amusement Index 141 142 100

Culture Index 136 131 100

Education Index 97 108 100

Medical Index 108 58 100

Religion Index 112 50 100

Restaurant Index 121 65 100

Weather Index 16 16 100

The Golf Club of California

Founded: 1850

Size: 4,206.63

Incorporated Cities: 18

Population (2014): 3,263,431

Estimated Median Age: 35.6

Unemployment Rate: 4.8% (April 2015)

Per Capita Income: $45,974

Median Household Income: $62,962

Estimated Housing Units: 1,176,718

Elevation ranges from sea level to 6,500 feet. It borders (to the north) Orange and Riverside Counties, (to the east) the agricultural

communities of Imperial County, (on the west) the Pacific Ocean, and (to the south) the State of Baja California, Mexico.

Bordered by the Pacific Ocean to the west, the Anza-Borrego Desert and the Laguna Mountains to the east, and Mexico to the south,

the diverse neighborhoods of San Diego are spread out over 4,200 square miles, offering endless opportunities for exploration and

activities. Spend a day relaxing in one of the many beach communities, then hiking in the east San Diego County mountains the next.

Explore the urban neighborhoods of San Diego's downtown, from the iconic Gaslamp Quarter to the eclectic community of Hillcrest. Visit

the quaint and charming island town of Coronado or the picturesque village of La Jolla. San Diego's regions are so unique and diverse;

there are plenty of options to discover something new each time you visit.

San Diego County is comprised of 18 incorporated cities

and 17 unincorporated communities. According to the

U.S. Census 2000, San Diego is the third largest county

(based on population) in the state.

The physical, social and economic development of the

region has been influenced by its unique geography,

which encompasses over 70 miles of beautiful coastline,

broad valleys, lakes, forested mountains and the desert.

The county can be divided into three basic geographic

areas, all generally running in the north-south direction.

Sources: County of San Diego and Land Advisors Organization research

The coastal plain extends from the ocean to inland areas for 20

to 25 miles. The foothills and mountains, rising in elevation to

6,500 feet, comprise the middle section of the county. The third

area is the desert, extending from the mountains into Imperial

County, 80 miles east of the coast. San Diegans can live in the

mountains, work near the ocean, and take recreational day trips

to the desert.

The City of San Diego has the 7th largest population of all cities

in the U.S. and roughly half of San Diego County's total

population resides in the City of San Diego.

San Diego's Gross Regional Product was estimated to have

reached $110.2 billion at the end of 2000. Analysts forecast San

Diego's 2001 GRP to exceed $117 billion.

• Beaches: The beach is more than a boundary dividing land

from sea, more than a place to swim or sunbathe. In San

Diego, the beach is a way of life, a source of pride and joy, a

defining influence in people's lives.

• Sea World: SeaWorld sits on a beautiful bay overlooking San

Diego's oceanfront. It is only one of three parks ranked in the

Top 10 that enjoys ocean frontage.

• San Diego Zoo: The 100-acre Zoo is home to over 4,000 rare

and endangered animals representing more than 800 species

and subspecies, and a prominent botanical collection with

more than 700,000 exotic plants

• USS Midway: Prepare yourself for a lifetime memory aboard

the USS Midway Museum. You'll explore a floating city at sea

and relive nearly 50 years of world history aboard the longest-

serving Navy aircraft carrier of the 20th century.

• Wild Animal Park: The Wild Animal Park is an expansive

wildlife sanctuary that is home to more than 3,500 animals

representing more than 400 species. Its renowned botanical

collection represents 3,500 species and 1.5 million specimens

Hotel Del Coronado: Since it was first built more than 120

years ago, the Hotel del Coronado has been a beacon of

grandeur and refinement among vacation destinations in

Southern California and the world.

• Balboa Park and Museums: Balboa Park - the nation's

largest urban cultural park. Home to 15 major museums,

renowned performing arts venues, beautiful gardens and the

San Diego Zoo, the Park has an ever-changing calendar of

museum exhibitions, plays, musicals, concerts, and classes—

all in the beautiful and timeless setting of this must-see San

Diego attraction.

• Gaslamp Quarter: The Gaslamp Quarter is San Diego's

dining, entertainment and urban shopping district.

• Legoland: Legoland California is a 128-acre park geared

specifically towards youngsters ages two through 12. With

over 50 family rides, "hands-on" attractions and shows,

Legoland California provides education, adventure and fun in

this first park of its kind in the United States

• Seaport Village: A 14 acre waterfront shopping, dining and

entertainment complex recreating a harbor side setting of a

century ago. Includes 54 one of a kind shops, 13 casual dining

eateries, 4 fine dining waterfront restaurants.

Sources: County of San Diego and Land Advisors Organization research

Area & Density:

Area (Square Miles): 7.673071 32.120488 63.997963

Density: 401.70 352.60 608.40

Population By Year:

Population (1990): 945 7,988 26,536

Population (2000): 1,715 9,578 32,744

Population (2010): 3,045 11,155 38,424

Population (Current): 3,082 11,327 38,937

Population (5 Yr. Forecast): 3,216 11,808 40,553

Percent Growth (Current Yr./ Previous Year): 1.22 1.63 1.25

Percent Forecast (5 Yr. Forecast / Current Yr.): 4.35 4.23 4.16

Households By Year:

Households (1990): 373 2,714 9,221

Households (2000): 703 3,576 11,734

Households (2010): 1,186 4,307 13,755

Households (Current): 1,190 4,338 13,828

Households (5 Yr. Forecast): 1,248 4,552 14,514

Percent Growth (Current Yr. / Previous Yr.): 0.34 0.82 0.49

Perfect Forecast (5 Yr. Forecast / Current Yr.): 4.87 4.94 4.96

General Population Characteristics:

Male: 1,612 5,764 20,109

Female: 1,470 5,563 18,828

Density: 401.70 352.60 608.40

Urban: 1,618 7,943 31,280

Rural: 1,464 3,384 7,657

General Household Characteristics:

Households (Current): 1,190 4,338 13,828

Families: 757 3,252 10,825

Average Size of Household: 2.59 2.57 2.75

Median Age of Householder: 58 58 54

Median Value Owner Occupied ($): 458,427.00 672,671.88 604,046.55

Median Rent ($): 954.00 1,406.16 1,341.08

Median Vehicles Per Household: 3 3 3

General Housing Characteristics:

Housing Units: 1,294 4,695 14,813

Owner Occupied Units: 1,024 3,844 11,788

Renter Occupied Units: 166 494 2,040

Vacant Units: 104 357 985

Population By Race:

White Alone: 2,464 9,664 30,966

Black Alone: 54 120 814

Asian Alone: 130 394 1,982

Native American and Alaska Native Alone: 19 78 251

Other Race Alone: 268 646 3,184

Two or More Races: 147 425 1,740

Population By Ethnicity:

Hispanic: 714 1,908 8,773

White Non-Hispanic: 2,062 8,432 25,808

General Income Characteristics:

Median Household Income ($): 74,677.00 97,028.34 93,427.58

Total Household Income ($): 116,118,314 502,706,960 1,519,766,558

Average Household Income ($): 97,578 115,884 109,905

Per Capita Income ($): 37,676 44,381 39,031

Retail Sales:

Total Retail Sales ($): 29,401 35,813 70,065

Consumer Expenditures:

Total Consumer Expenditures ($): 75,771.40 293,261.70 912,830.90

Employment by Place of Business:

Total Employees: 1,113 2,133 3,826

Total Establishments: 148 273 486

Submit offer.

All cash. Buyer to submit offer based on an “as is” value,

however, please also provide Seller with your projected

“finished lot value,” development cost assumptions and

anticipated product and pricing.

The property shall be removed from the market and the

Feasibility Period shall commence upon mutual execution of a

Letter of Intent.

Please submit all offers to either:

Land Advisors Organization

Attn: David Landes

1265 Carlsbad Village Drive, Suite 210

Tel: 858.568.7428

Email: [email protected]

Sage Property Advisors

Attn: Steve Jones

PO Box 1413, Newport Beach, CA 92659

Tel: 714.272.9213

Email: [email protected]

Please submit offer in the form of a Letter of Intent. Bids should

identify the proposed Buyer, its principals and/or material aspects

of its corporate organization. Buyer’s submission should include

information regarding Buyer’s relevant experience and financial

wherewithal, and its intended equity and debt sources for

consummating the Transaction. Pursuant to S.B. 1171, all offers

on real estate in the State of California are required to be

accompanied by an executed version of the form on page 32.

Please fill out the form and return it with your offer.

Please contact Cynthia Lokovic to request access to the due

diligence material in Land Advisors Organization’s Virtual Data

Room. She can be reached via email at

[email protected] or via her direct line at (949) 656-

8003.

The Property is being sold “as-is” with no representations or

warranties from either the Seller or its Affiliates. The information

provided is intended to help a Buyer develop an offer to purchase

the Property, but the buyer must not rely on anything other than its

own due diligence.

The Initial Deposit shall be equal to five percent (5%) of the

anticipated Purchase Price. Said Deposit shall be paid at the

Opening of Escrow and shall remain refundable during the

Feasibility Period. Upon Buyer’s approval of Feasibility, a

Second Deposit shall be placed in escrow providing for a total

Deposit of ten percent (10%) of the Purchase Price. Upon

Buyer’s approval of its Feasibility, the Initial and Second

Deposit shall be released to Seller and shall be non-

refundable except for Seller’s default.

Buyer shall have a Feasibility Period in which to investigate all

aspects of the Property, including the physical condition of the

Property. The Feasibility Period shall begin upon the

acceptance of a Letter of Intent.

It is the Seller’s intent to have the Feasibility Period expire in

45 days from the acceptance of the Letter of Intent.

The Property will be delivered in “as-is” condition.

The Close of Escrow shall occur on or before 15 days after the

expiration of the Feasibility Period.




Below is a list of all the Due Diligence documents available for Camino Del Cielo. Please contact Cynthia Lokovic to request access to

the due diligence material in Land Advisors Organization’s Virtual Data Room. She can be reached via email at

[email protected] or via her direct line at (949) 656-8003.

• Vesting Site Plan

• Vesting Tentative Map

• Conditions of Approval

• Notice of Determination

• Site Plan & B Designator Decision

• Site Plan V Designator Decision

• VTM Extension

• VTM Resolution

• County Approvals dated 4/4/2008

• Notice of Initial Release

• JT Kruer Development Cost dated 10/12/2015

• Proposed Site Layout

• Site Plan

• Conceptual Landscape Plan

• Draft Grading – Landscape

• Draft Improvement Plans

• Final Map

• First American Plotted Easements

• Preliminary Grading Plan approved with VTM dated

4/4/2008

• Vesting Site Plan Approved with VTM dated 4/4/2008

• Vesting Tentative Map dated 4/4/2008

• Fire Protection Site Plan

• Fire Dept. Site Plan Review Letter

• Proposal for Fire Site Plan Approval dated 4/10/2015

• Corps NWP 29 Application Package

• Letter to Army Corps to Initiate Section 7 Consult (draft)

• Section 7 Consultation Letter Lilac dated 10/14/2014

• SHPO Letter dated 1/20/2015

• Site Pictures

• Soils Reports

• RMWD Service Letter

• Army Corps Pre-Construction Notification

• Army Corps Determination

• Amendment Request to BO dated 1-20-2015

• Appendix B – Preliminary JD Form dated

8/14/2014

• Appendix H – 300 Linear Foot Waiver dated

8/28/2014

• Appendix I – Draft Biological Opinion

• BO-Final Lilac Del Cielo dated 12/23/2010

• Initial Fire Protection

• SWMP Revised Final dated 2/10/2015

• Jurisdictional Waters Opinion

• John Burns Market Study dated 9/28/2015

• Environmental Risk Determination Report

• RWQCB Permits

• CDFW Permits

• Biological Resource Reports

• Archeological Resources Survey dated 05/2005

• Geotech Report dated 7/23/2008

• Fire Department Approval dated 8/15/2014

• Rainbow Approval dated 11/4/2013

• Preliminary Title Report dated 8/5/2013

• Vesting Deed

• OR #’s 1981-32858, 2004-714159, 1976-273555,

1976-293814, 1976-428069, 1977-130460, 1981-

32858, 1981-32858, 1982-241033, 1988-674608,

2009-599256, 2006-35089, & 2011-23985

• MAP #’s 6633, 6957, 8502, 3825 & 10396

• CC&R #’s 1974-119838, 1988-308017, 1988-

413969, & 1976-27355


The information contained in this offering material (“Brochure”) is confidential, furnished solely for the purpose of a review by prospective

purchaser of any portion of Camino Del Cielo (APNs 126-060-77 & 126-430-01) within the City of Bonsall, County of San Diego, California

(“Property”) and is not to be used for any other purpose or made available to any other person without the express written consent of Park

Place Partners, Inc. d/b/a Land Advisors Organization (“Land Advisors”) and Steven C Jones, Inc. d/b/a Sage Property Advisors. The

material is based in part upon information supplied by BONSALL GROUP LLC & SANTA MARIA GROUP LLC (“Seller”) and in part upon

information obtained by Land Advisors and Sage Property Advisors from sources it deems reasonably reliable. Summaries of any

documents are not intended to be comprehensive or all inclusive but rather only an outline of some of the provisions contained therein. No

warranty or representation, expressed or implied, is made by Seller, Land Advisors and Sage Property Advisors, or any of their respective

affiliates, as to the accuracy or completeness of the information contained herein or as to engineering or environmental matters.

Prospective purchasers should make their own projections and conclusions without reliance upon the materials contained herein

and conduct their own independent due diligence, including engineering and environmental inspections, to determine the

condition of the Property and the existence of any potentially hazardous material located at the site.

This Brochure was prepared by Land Advisors. It contains select information pertaining to the Property and does not purport to be all-

inclusive or to contain all of the information that a prospective purchaser may desire. All assumptions are provided for general reference

purposes only and are based on assumptions relating to the general economy, competition and other factors beyond control and, therefore,

are subject to material change or variation.

In this Brochure, certain documents and other materials are described in summary form. The summaries do not purport to be complete nor,

necessarily, accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested

parties are expected to independently review all documents.

This Brochure is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a

recommendation, endorsement or advice as to the value of the Property by Land Advisors, Sage Property Advisors or the Seller. Each

prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property

described herein.

Seller, Land Advisors and Sage Property Advisors expressly reserve the right, at their sole discretion, to reject any or all expressions of

interest or offers to purchase the property and/or to terminate discussions with any party at any time with or without notice. Seller shall have

no legal commitment or obligation to any purchaser reviewing this Brochure or making an offer to purchase the Property unless a written

agreement for the purchase of the Property has been fully executed, delivered and approved by the Seller and any conditions to Seller's

obligations there under have been satisfied or waived. Land Advisors is not authorized to make any representations or agreements on

behalf of Seller.

This Brochure is the Property of Land Advisors and Sage Property Advisors and may be used only by parties approved by Land Advisors

and Sage Property Advisors. The Property is privately offered and, by accepting this Brochure, the party in possession hereof agrees (i) to

return it to Land Advisors or Sage Property Advisors immediately upon request of Land Advisors or Seller and (ii) that this Brochure and its

contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Brochure may be copied or

otherwise reproduced or disclosed to anyone without the prior written authorization of Land Advisors, Sage Property Advisors and Seller.

Please be advised, Buyer acknowledges that Park Place Partners, Inc. d/b/a Land Advisors Organization and Steven C. Jones, Inc.

d/b/a Sage Property Advisors, may (1) act as an agent for more than one prospective Buyer on the subject property and/or (2) act

as the agent for both the Buyer and Seller on the subject property. Any prospective Buyer requesting Land Advisors to submit an

offer on its behalf acknowledges the foregoing disclosures and agrees to the described agency relationships with other

prospective Buyers.

The terms and conditions set forth above apply to this Brochure in its entirety.

DISCLOSURE AND CONSENT FOR REPRESENTATION

OF MORE THAN ONE BUYER OR SELLER

EXCERPTS FROM – C.A.R. FORM DA, 11/06

A real estate broker, whether a corporation, partnership or sole proprietorship, (“Broker”) may represent more than one buyer or

seller provided the Broker has made a disclosure and the principals have given their consent. This multiple representation can occur

through an individual license as a broker or through different associate licensees acting for the Broker. The associates licensees

may be working out of the same or different office locations.

Broker may be working with many prospective buyers at the same time. These prospective buyers may have an interest in, and

make offers on, the same properties. Some of these properties may be listed with Broker and some may not. Broker will not limit or

restrict any particular buyer from making an offer on any particular property whether or not Broker represents other buyers interested

in the same property.

Broker (individually or through its associate licensees) may have listings on many properties at the same time. As a result, Broker

will attempt to find buyers for each of those listed properties. Some listed properties may appeal to the same prospective buyers.

Some properties may attract more prospective buyers than others. Some of these prospective buyers may be represented by Broker

and some may not. Broker will market all listed properties to all prospective buyers whether or not Broker has another or other listed

properties that may appeal to the same prospective buyers.

Buyer and Seller understand that Broker may represent more than one buyer or seller and even both buyer and seller on the same

transaction.

If Seller is represented by Broker, Seller acknowledges that Broker may represent prospective buyers of Seller’s property and

consents to Broker acting as a dual agent for both Seller and Buyer in that transaction.

If Buyer is represented by Broker, Buyer acknowledges that Broker may represent sellers of property that Buyer is interested in

acquiring and consents to Broker acting as a dual agent for both Buyer and Seller with regard to that property.

In the event of a dual agency, Seller and Buyer agree that: (a) Broker, without the prior notice written consent of the Buyer, will not

disclose to the Seller that the Buyer is willing to pay a price greater than the offered price; (b) Broker, without the prior written

consent of the Seller, will not disclose to the Buyer that Seller is willing to sell property at a price less than the listing price; and (c)

other than as set forth in (a) and (b) above, a Dual Agent is obligated to disclose known facts materially affecting the value or

desirability of the property to both parties.

NON CONFIDENTIALITY OF OFFERS: Buyer is advised that Seller or Listing Agent may disclose the existence, terms, or

conditions of Buyer’s offer unless all parties and their agent have signed a written confidentiality agreement. Whether any such

information is actually disclosed depends on many factors, such as current market conditions, the prevailing practice in the real

estate community, the Listing Agent’s marketing strategy and the instructions of the seller.

Seller and/or Buyer acknowledges reading and understanding this Disclosure and Consent for Representation of More than One

Buyer or Seller and agree to the dual agency possibility disclosed.

Disclosure Regarding Real Estate Agency Relationship

(AS REQUIRED BY THE CIVIL CODE)

When you enter into a discussion with a real estate agent regarding a real estate transaction, you should from the outset understand

what type of agency relationship or representation you wish to have with the agent in the transaction.

1. Buyer’s/Tenant’s Agent

A selling agent can, with a Buyer’s/Tenant’s consent, agree to act as agent for the Buyer/Tenant only. In these situations, the agent is

not the Seller’s/Landlord’s agent, even if by agreement the agent may receive compensation for services rendered, either in full or in

part from the Seller/Landlord. An agent acting only for a Buyer/Tenant has the following affirmative obligations:

TO THE BUYER/TENANT:

A fiduciary duty of utmost care, integrity, honesty, and loyalty in dealings with the Buyer/Tenant.

TO THE BUYER/TENANT AND THE SELLER/LANDLORD:

(a) Diligent exercise of reasonable skill and care in performance of the agent’s duties.

(b) A duty of honest and fair dealing and good faith.

(c) A duty to disclose all facts known to the agent materially affecting the value or desirability of the property that are not known to, or

within the diligent attention and observation of, the parties. An agent is not obligated to reveal to either party any confidential

information obtained from the other party that does not involve the affirmative duties set forth above.

2. Seller’s/Landlord’s Agent

A Seller’s/Landlord’s agent under a listing agreement with the Seller/Landlord acts as the agent for the Seller/Landlord only. A

Seller’s/ Landlord’s agent or a subagent of that agent has the following affirmative obligations:

TO THE SELLER/LANDLORD:

A fiduciary duty of utmost care, integrity, honesty, and loyalty in dealings with the Seller/Landlord.

TO THE BUYER/TENANT AND THE SELLER/LANDLORD:

(a) Diligent exercise of reasonable skill and care in performance of the agent’s duties.

(b) A duty of honest and fair dealing and good faith.

(c) A duty to disclose all facts known to the agent materially affecting the value or desirability of the property that are not known to, or

within the diligent attention and observation of, the parties. An agent is not obligated to reveal to either party any confidential

information obtained from the other party that does not involve the affirmative duties set forth above.

3. Agent Representing Both Seller/Landlord and Buyer/Tenant

A real estate agent, either acting directly or through one or more associate licensees, can legally be the agent of both the

Seller/Landlord and the Buyer/Tenant in a transaction, but only with the knowledge and consent of both the Seller/Landlord and the

Buyer/Tenant. In a dual agency situation, the agent has the following affirmative obligations:

TO BOTH THE SELLER/LANDLORD AND THE BUYER/TENANT:

(a) A fiduciary duty of utmost care, integrity, honesty and loyalty in the dealings with either the Seller/Landlord or the Buyer/Tenant. (b)

Other duties to the Seller/Landlord and the Buyer/Tenant as stated above in their respective sections.

In representing both Seller/Landlord and Buyer/Tenant, the agent may not, without the express permission of the respective party,

disclose to the other party that the Seller/Landlord will accept a price less than the listing price or that the Buyer/Tenant will pay a

price greater than the price offered.

The above duties of the agent in a real estate transaction do not relieve a Seller/Landlord or Buyer/Tenant from the responsibility to protect

his or her own interests. You should carefully read all agreements to assure that they adequately express your understanding of the

transaction. A real estate agent is a person qualified to advise about real estate. If legal or tax advice is desired, consult a competent

professional.

Throughout your real property transaction you may receive more than one disclosure form, depending upon the number of agents assisting

in the transaction. The law requires each agent with whom you have more than a casual relationship to present you with this disclosure

form. You should read its contents each time it is presented to you, considering the relationship between you and the real estate agent in

your specific transaction.

This disclosure form includes the provisions of Sections 2079.13 to 2079.24, inclusive, of the Civil Code set forth on the reverse hereof.

Read it carefully.

2079.13: As used in Sections 2079.14 to 2079.24, inclusive, the following terms have the following meanings:

(a) “Agent” means a person acting under provisions of Title 9 (commencing with Section 2295) in a real property transaction, and includes

a person who is licensed as a real estate broker under Chapter 3 (commencing with Section 10130) of Part 1 of Division 4 of the

Business and Professions Code, and under whose license a listing is executed or an offer to purchase is obtained.

(b) “Associate licensee” means a person who is licensed as a real estate broker or salesperson under Chapter 3 (commencing with Section

10130) of Part 1 of Division 4 of the Business and Professions Code and who is either licensed under a broker or has entered into a

written contract with a broker to act as the broker’s agent in connection with acts requiring a real estate license and to function under

the broker’s supervision in the capacity of an associate licensee.

Name of Listing Agent: Name of Selling Agent

(if not the same as the Listing

Agent)

Is the agent of: seller/landlord exclusively;

or

is the agent of (check one):the buyer/tenant exclusively; or

both the buyer and seller the seller/landlord exclusively;

or, both the buyer and seller.

Listing Agent (Signature) Date Selling Agent – if not same as

Listing Agent (Signature)

Date

Seller/Landlord(Signature) Date Buyer/Tenant (Signature) Date

X

David Landes & Steve Jones NA

NA

The agent in the real property transaction bears responsibility for his or her associate licensees who perform as agents of the agent.

When an associate licensee owes a duty to any principal, or to any buyer or seller who is not a principal, in a real property transaction,

that duty is equivalent to the duty owed to that party by the broker for whom the associate licensee functions.

(c) “Buyer” means a transferee in a real property transaction, and includes a person who executes an offer to purchase real property

from a seller through an agent, or who seeks the services of an agent in more than a casual, transitory, or preliminary manner,

with the object of entering into a real property transaction. “Buyer” includes vendee or lessee.

(d) “Commercial real property” means all real property in the state, except single-family residential real property, dwelling units made

subject to Chapter 2 (commencing with Section 1940) of Title 5, mobilehomes, as defined in Section 798.3, or recreational

vehicles, as defined in Section 799.29.

(e) “Dual agent” means an agent acting, either directly or through an associate licensee, as agent for both the seller and the buyer in

a real property transaction.

(f) “Listing agreement” means a contract between an owner of real property and an agent, by which the agent has been authorized

to sell the real property or to find or obtain a buyer.

(g) “Listing agent” means a person who has obtained a listing of real property to act as an agent for compensation.

(h) “Listing price” is the amount expressed in dollars specified in the listing for which the seller is willing to sell the real property

through the listing agent.

(i) “Offering price” is the amount expressed in dollars specified in an offer to purchase for which the buyer is willing to buy the real

property.

(j) “Offer to purchase” means a written contract executed by a buyer acting through a selling agent that becomes the contract for the

sale of the real property upon acceptance by the seller.

(k) “Real property” means any estate specified by subdivision (1) or (2) of Section 761 in property that constitutes or is improved with

one to four dwelling units, any leasehold in these types of property exceeding one year’s duration, and mobilehomes, when

offered for sale or sold through an agent pursuant to the authority contained in Section 10131.6 of the Business and Professions

Code.

(l) “Real property transaction” means a transaction for the sale of real property in which an agent is employed by one or more of the

principals to act in that transaction, and includes a listing or an offer to purchase.

(m) “Sell,” “sale,” or “sold” refers to a transaction for the transfer of real property from the seller to the buyer, and includes exchanges

of real property between the seller and buyer, transactions for the creation of a real property sales contract within the meaning of

Section 2985, and transactions for the creation of a leasehold exceeding one year’s duration.

(n) “Seller” means the transferor in a real property transaction, and includes an owner who lists real property with an agent, whether

or not a transfer results, or who receives an offer to purchase real property of which he or she is the owner from an agent on

behalf of another. “Seller” includes both a vendor and a lessor.

(o) “Selling agent” means a listing agent who acts alone, or an agent who acts in cooperation with a listing agent, and who sells or

finds and obtains a buyer for the real property, or an agent who locates property for a buyer or who finds a buyer for a property

for which no listing exists and presents an offer to purchase to the seller.

(p) “Subagent” means a person to whom an agent delegates agency powers as provided in Article 5 (commencing with Section

2349) of Chapter 1 of Title 9. However, “subagent” does not include an associate licensee who is acting under the supervision of

an agent in a real property transaction.

2079.14: Listing agents and selling agents shall provide the seller and buyer in a real property transaction with a copy of the

disclosure form specified in Section 2079.16, and, except as provided in subdivision (c), shall obtain a signed acknowledgment of

receipt from that seller or buyer, except as provided in this section or Section 2079.15, as follows:

(a) The listing agent, if any, shall provide the disclosure form to the seller prior to entering into the listing agreement.

(b) The selling agent shall provide the disclosure form to the seller as soon as practicable prior to presenting the seller with an offer

to purchase, unless the selling agent previously provided the seller with a copy of the disclosure form pursuant to subdivision (a).

(c) Where the selling agent does not deal on a face-to-face basis with the seller, the disclosure form prepared by the selling agent

may be furnished to the seller (and acknowledgment of receipt obtained for the selling agent from the seller) by the listing agent,

or the selling agent may deliver the disclosure form by certified mail addressed to the seller at his or her last known address, in

which case no signed acknowledgment of receipt is required.

(d) The selling agent shall provide the disclosure form to the buyer as soon as practicable prior to execution of the buyer’s offer to

purchase, except that if the offer to purchase is not prepared by the selling agent, the selling agent shall present the disclosure

form to the buyer not later than the next business day after the selling agent receives the offer to purchase from the buyer.

2079.15: In any circumstance in which the seller or buyer refuses to sign an acknowledgment of receipt pursuant to Section 2079.14,

the agent, or an associate licensee acting for an agent, shall set forth, sign, and date a written declaration of the facts of the refusal.

2079.17:

(a) As soon as practicable, the selling agent shall disclose to the buyer and seller whether the selling agent is acting in the real

property transaction exclusively as the buyer’s agent, exclusively as the seller’s agent, or as a dual agent representing both the

buyer and the seller. This relationship shall be confirmed in the contract to purchase and sell real property or in a separate writing

executed or acknowledged by the seller, the buyer, and the selling agent prior to or coincident with execution of that contract by

the buyer and the seller, respectively.

(b) As soon as practicable, the listing agent shall disclose to the seller whether the listing agent is acting in the real property

transaction exclusively as the seller’s agent, or as a dual agent representing both the buyer and seller. This relationship shall be

confirmed in the contract to purchase and sell real property or in a separate writing executed or acknowledged by the seller and

the listing agent prior to or coincident with the execution of that contract by the seller.

(c) The confirmation required by subdivisions (a) and (b) shall be in the following form (see next page):

(d) The disclosures and confirmation required by this section shall be in addition to the disclosure required by Section 2079.14.

2079.18: No selling agent in a real property transaction may act as an agent for the buyer only, when the selling agent is also acting as

the listing agent in the transaction.

2079.19: The payment of compensation or the obligation to pay compensation to an agent by the seller or buyer is not necessarily

determinative of a particular agency relationship between an agent and the seller or buyer. A listing agent and a selling agent may agree

to share any compensation or commission paid, or any right to any compensation or commission for which an obligation arises as the

result of a real estate transaction, and the terms of any such agreement shall not necessarily be determinative of a particular relationship.

2079.20: Nothing in this article prevents an agent from selecting, as a condition of the agent’s employment, a specific form of agency

relationship not specifically prohibited by this article if the requirements of Section 2079.14 and Section 2079.17 are complied with.

2079.21: A dual agent shall not disclose to the buyer that the seller is willing to sell the property at a price less than the listing price,

without the express written consent of the seller. A dual agent shall not disclose to the seller that the buyer is willing to pay a price greater

than the offering price, without the express written consent of the buyer.

This section does not alter in any way the duty or responsibility of a dual agent to any principal with respect to confidential information

other than price.

2079.22: Nothing in this article precludes a listing agent from also being a selling agent, and the combination of these functions in one

agent does not, of itself, make that agent a dual agent.

2079.23: A contract between the principal and agent may be modified or altered to change the agency relationship at any time before the

performance of the act which is the object of the agency with the written consent of the parties to the agency relationship.

2079.24: Nothing in this article shall be construed to either diminish the duty of disclosure owed buyers and sellers by agents and their

associate licensees, subagents, and employees or to relieve agents and their associate licensees, subagents, and employees from

liability for their conduct in connection with acts governed by this article or for any breach of a fiduciary duty or a duty of disclosure.

Name of Listing Agent: Name of Selling Agent

(if not the same as the Listing

Agent)

Is the agent of: seller/landlord exclusively;

or

is the agent of (check one):the buyer/tenant exclusively; or

both the buyer and seller the seller/landlord exclusively;

or, both the buyer and seller.

Listing Agent (Signature) Date Selling Agent – if not same as

Listing Agent (Signature)

Date

Seller/Landlord(Signature) Date Buyer/Tenant (Signature) Date

See what’s happening on our social sites!

David Landes

Land Advisors Organization

CalBRE #01106774

(858) 568-7428 x11

[email protected]

LAND ADVISORS ORGANIZATION

100 Spectrum Center Drive, Suite 1400

Irvine, California 92618

(949) 852-8288

www.landadvisors.com

CAPITAL SOURCING

Landmark Capital Advisors, a Land Advisors company, is a market

leader in sourcing debt and equity for residential and commercial

transactions.

For your capital needs, please contact:

MARKET STUDIES & DATA

Market InSite Real Estate Advisors, a Land Advisors company,

provides data and market studies to clients who buy, sell, and

develop residential and mixed-use subdivision land.

For your market studies & data needs, please contact:

Market Studies

Bob McFarland

(949) 727-9375

Residential

Tom Farrell

(949) 760-7940 x13

Commercial

David Kidder

(949) 760-7940 x10

Steve Jones

Sage Property Advisors

CalBRE #01516166

(714) 272-9213

[email protected]

CONTACT

AFFILIATED BUSINESSES

SAGE PROPERTY ADVISORS

PO Box 1413

Newport beach, CA 92656

(714) 272-9213

www.sagepropertyadvisors.com

Co Represented By:

http://laoca-landed.com/

http://laoca-landed.com/

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