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NOTE: IF YOU FORGET TO DO THIS, IT MAY COST YOU A PENALTY OF $500.00 — PLUS ATTORNEY'S FEES AND DAMAGES (SEE CIVIL CODE SECTION 1360). THIS CIVIL CODE SECTION 1360 ALSO PROVIDES THAT SUBDIVIDERS MUST FURNISH A TRUE STATEMENT CONCERNING ANY DELINQUENT ASSESSMENT PENALTIES, ATTORNEYS' FEES, OR OTHER CHARGES PROVIDED BY THE CC&R's, OR OTHER MANAGEMENT DOCUMENTS ON THE LOT OR UNIT AS OF THE DATE THE STATEMENT WAS ISSUED. INTERESTS TO BE CONVEYED: You will receive fee title to a specified lot, together with a membership in the "Woodbridge Greens Homeowners Association" and rights to use the common area. LOCATION AND SIZE: This subdivision is located in San Joaquin County at Mokelumne Street and Lilac Street within the unincorporated area of Woodbridge. This is the first increment which consists of approximately 10.74 acres divided into 49 residential lots and 8 common area lots which consists of Lots "A" through "H", inclusive. Common facilities consisting of a recreational building with two raquetball courts, restrooms, two saunas, exercise room and kitchen, a tennis court, security gates, spa, swimming pool, paving, lighting, fencing, waterways and landscaping will be constructed on the common area. This increment is part of a total project which, if developed as proposed, will consist of a total of four increments and containing 106 residential lots within the overall projected development. There is no assurance that the total project will be completed as proposed. MANAGEMENT AND OPERATION: The Woodbridge Greens Homeowners Association, which you must join, manages and operates the common area(s) in accordance with the Restrictions, Articles of Incorporation, and the Bylaws. MAINTENANCE AND OPERATIONAL EXPENSES: The subdivider has submitted budgets for the maintenance and operation of the common areas and for long-term reserves when the subdivision is substantially completed (built-out budget) and an interim budget applicable to this phase. These budgets were reviewed by the Department of Real Estate in January, 1985. You should obtain copies of these budgets from the subdivider. Under the built-out budget, the monthly assessment against each subdivision interest will be $111.52. The association may or may not elect to use this budget when additional phases are annexed. Under the interim budget, the monthly assessment per unit will be $160.72. Of these amounts, the monthly contributions toward long-term reserves, which are not to be used to pay for current operating expenses are $18.45 and $27.36, respectively. According to the subdivider, assessments under the interim budget should be sufficient for proper maintenance and operation of the common areas until the development is substantially completed at which time it may be anticipated that assessments will be adjusted. Page 5 of 8 File No. 022534SA-FOO