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SPECIAL NOTES 1. THIS REPORT COVERS ONLY LOTS 1-13 AND COMMON LOTS A AND B. 2. THIS PROJECT IS A COMMON -INTEREST SUBDIVISION OF THE TYPE RE- FERRED TO AS A "PLANNED DEVELOPMENT". IT INCLUDES COMMON AREAS AND COMMON FACILITIES WHICH WILL BE MAINTAINED BY AN INCORPO- RATED OWNERS ASSOCIATION. 3. THE ASSOCIATION HAS THE RIGHT TO LEVY ASSESSMENTS AGAINST YOU FOR MAINTENANCE OF THE COMMON AREAS AND OTHER PURPOSES. YOUR CONTROL OF OPERATIONS AND EXPENSES IS LIMITED TO THE RIGHT OF YOUR ELECTED REPRESENTATIVES TO VOTE ON CERTAIN PROVISIONS AT MEETINGS. SINCE THE COMMON PROPERT" AND FACILITIES WILL BE MAINTAINED BY AN ASSOCIATION OF HOMEOWNERS, IT IS ESSENTIAL THAT THIS ASSOCIA- TION BE FORMED EARLY AND PROPERLY. THE HOMEOWNER ASSOCIATION MUST HOLD THE FIRST ELECTION OF THE ASSOCIATION'S GOVERNING BODY WITHIN 45 DAYS AFTER 518 SELL OUT OF THE INTERESTS AUTHORIZED FOR SALE UNDER THE FIRST PUBLIC REPORT FOR THE SUBDIVISION; OR, IN ANY EVENT, NO LATER THAN SIX MONTHS AFTER CLOSING THE FIRST SALE (REGULATIONS 2792.17 AND 2792.19); AND PREPARE AND DISTRIB- UTE TO ALL HOMEOWNERS A BALANCE SHEET AND INCOME STATEMENT (REG- ULATION 2792.22). 5. THE -SUBDIVIDER HAS MADE FINANCIAL ARRANGEMENTS IN THE AMOUNT OF $25,767.00 TO ASSURE COMPLETION OF COMMON AREA IMPROVEMENTS DESCRIBED IN THE "PLANNED CONSTRUCTION STATEMENT" ATTACHED TO THE SECURITY INSTRUMENT. THE ESTIMATED COMPLETION DATE FOR THESE IMPROVEMENTS IS JULY, 1986. 7. 2 THE SUBDIVIDER MUST PAY ALL THE MONTHLY ASSESSMENTS WHICH HE OWES TO THE HOMEOWNERS ASSOCIATION FOR UNSOLD LOTS -- THE PAY- MENTS MUST COMMENCE ON THE FIRST DAY OF THE MONTH AFTER SUBDI- VIDER CLOSES FIRST SALE. (REGULATIONS 2792.9 AND 2792.16.) THE SUBDIVIDER HAS STATED THAT HE WILL PROVIDE YOU WITH A COPY OF THE ARTICLES OF INCORPORATION, RESTRICTIONS AND BYLAWS, BY POSTING THEM IN A PROMINENT LOCATION IN THE SALES OFFICE AND FURNISHING YOU COPIES PRIOR TO CLOSE OF ESCROW. THESE DOCUMENTS CONTAIN NUMEROUS MATERIAL PROVISIONS THAT SUBSTANTIALLY AFFECT AND CONTROL YOUR RIGHTS, PRIVILEGES, USE, OBLIGATIONS, AND COSTS OF MAINTENANCE AND OPERATION. YOU SHOULD READ AND UNDERSTAND THESE DOCUMENTS BEFORE YOU OBLIGATE YOURSELF TO PURCHASE A LOT. THE SUBDIVIDER STATED HE WILL NOT FURNISH THE CURRENT BOARD OF OFFICERS OF THE HOMEOWNERS ASSOCIATION THE BUILDING PLANS OF THE AREAS OF THE ASSOCIATION'S RESPONSIBILITY TO INCLUDE DIAGRAMS OF LOCATION OF MAJOR COMPONENTS, UTILITIES, AND RELATED DATA. THESE ITEMS WILL BE IMPORTANT TO THE BOARD OF OFFICERS OR THOSE WHO WILL MANAGE OR REPAIR COMMON FACILITIES IN THIS SUBDIVISION. Page 3 of 7 File No. 024199SA-F00