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HomeMy WebLinkAbout2026.04.21 SVCFD 2 City Council Chambers City of Apache Junction, Arizona 300 E Superstition Blvd Apache Junction,AZ a, 85119 Special Meeting Agenda \ - apachejunctionaz.gov \RiZONr Superstition Vistas Community Ph:(480)982-8002 Facilities District No. 2 Doors are open to the public at least 15 minutes prior to the posted meeting start time. Tuesday,April 21,2026 6:00 PM City Council Chambers A. Call to Order B. Roll Call C. Agenda Items 1. 26-159 Consideration of approval of minutes of the special meeting of February 17, 2026. Attachments: SVCFD2MIN 2026 02 17 MINUTES DRAFT 2. 26-155 Presentation, discussion and consideration of Resolution No. SVCFD2 2026-005, a resolution of the district board of Superstition Vistas Community Facilities District No. 2, approving the Third Amendment to the Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement related to the acquisition of infrastructure, tax rates and assessments, and approving and authorizing all actions in connection with such substitution. Attachments: Resolution No. SVCFD2 2026-005 Third Amendment to SVCFD2 CFD DA D. District Manager Report E. District Director Report F. District Treasurer Report G. Adjournment Copies of this agenda and additional information on any of the items listed above may be obtained from the office of the city clerk/district clerk, 300 E Superstition Blvd,Apache Junction,AZ 85119, Monday through Thursday, 7:00a to 6:00p, excluding holidays. The City of Apache Junction invites and welcomes people of all abilities to use our programs, sites and facilities. Specific requests may be made by contacting the Human Resources Office at(480)474-2617 or TDD(480) 983-0095. Members of this board will attend either in person or by telephone, video or internet conferencing. City of Apache Junction,Arizona Page 1 Printed on 4/16/2026 Superstition Vistas Community Special Meeting Agenda April 21,2026 Facilities District No.2 City of Apache Junction,Arizona Page 2 Printed on 4/16/2026 City of Apache Junction, Arizona 300 E Superstition > Apache Junction,Boulevard 85119 _� Agenda Item Cover Sheet p ` Agenda Item No. 1. Piz File ID: 26-159 Sponsor: Agenda Date:4/21/2026 Index: In Control: Superstition Vistas Community Facili Consideration of approval of minutes of the special meeting of February 17, 2026. City of Apache Junction,Arizona Page 1 Printed on 4/16/2026 f,, Cit`, of Apache Junction Arizona City Council Chambers 7 300 E Superstition Blvd Z p Apache Junction,AZ ;-z Special Meeting Minutes 85119 �Qrr N* Superstition Vistas Communityapachejunctionaz.gov p Ph:(480)982-8002 Facilities District No. 2 Doors are open to the public at least 15 minutes prior to the posted meeting start time. Tuesday, February 17,2026 6:00 PM City Council Chambers A. Call to Order Chair Wilson called the meeting to order at 6:08 p.m. B. Roll Call Present: 7- Chairperson Wilson Vice Chair Schroeder Boardmember Heck Boardmember Johnson Boardmember Nesser Boardmember Soller Boardmember Cross Staff in Attendance: Bryant Powell, District Manager Matt Busby, Assistant District Manager Evie McKinney, District Clerk Joel Stern, District Attorney Stacey Ramiez, District Billing Supervisor Angelie Hawley, District Treasurer Connie Chow, District Controller Rob Wisler,District Management Analyst Eli Richardson, District Management Analyst C. Agenda Items 1. 26-32 Consideration of approval of minutes of the special meeting of January 20, 2026. Boardmember Cross moved,seconded by Vice Mayor Schroeder that the minutes of the January 20,2026,Special Meeting be approved. Yes: 7- Chairperson Wilson,Vice Chair Schroeder, Boardmember Heck, Boardmember Johnson, Boardmember Nesser, Boardmember Soller and Boardmember Cross No: 0 D. Public Hearing City of Apache Junction,Arizona Page 1 Superstition Vistas Community Special Meeting Minutes February 17,2026 Facilities District No.2 2. 26-33 Conduct a public hearing on the final assessment for the Superstition Vistas Community Facilities District No. 2, Assessment Area No. 3. Zach Sakas, Esq. of Greenberg Traurig, outside counsel for the Superstition Vistas Community Facilities District No. 2 presented to the Board the final action for the special assessment bonds for Assessment Area No. 3. He explained that this was for 575 lots at$3,500 per lot. The assessment will pay for a portion of Warner Avenue. The District Engineer has verified the project costs and that the project was completed up to city standards. Mr. Sakas explained Resolution No. SVCFD2 2026-003 approves the final assessment Public Hearing. Resolution No. SVCFD2 2026-004 approves the bond transactions with an amount not to exceed of$2,012,000.00 and the related documents. The Board had no concerns. Chair Wilson opened the Public Hearing. Receiving no comments, he closed the Public Hearing. 3. 26-34 Presentation, discussion and consideration of Resolution No. SVCFD2 2026-003, a resolution of the district board of Superstition Vistas Community Facilities District No. 2 approving the final assessment for Assessment Area No. 3, determining that the work has been completed in accordance with the approved plans and specifications, and ordering the collection of the assessment in Assessment Area No. 3. Boardmember Heck moved, seconded by Boardmember Soller that Resolution No.SVCFD2 2026-003 be approved. Yes: 7- Chairperson Wilson,Vice Chair Schroeder, Boardmember Heck, Boardmember Johnson, Boardmember Nesser, Boardmember Soller and Boardmember Cross No: 0 This Item was addressed under Item No. 2. 4. 26-35 Presentation, discussion and consideration of Resolution No. SVCFD2 2026-004, a resolution of the district board of Superstition Vistas Community Facilities District No. 2, authorizing the issuance of the District's Assessment Area No. 3 Special Assessment Bonds, Series 2026; approving the form and authorizing the execution and delivery of related documents; awarding the bonds to a purchaser; appointing a registrar, transfer agent and paying agent for the bonds; and authorizing the taking of other actions securing the payment of and relating to the bonds. Boardmember Johnson moved,seconded by Boardmember Nesser that Resolution No.SVCFD2 2026-004 be approved. Yes: 7- Chairperson Wilson,Vice Chair Schroeder, Boardmember Heck, Boardmember Johnson, Boardmember Nesser, Boardmember Soller and Boardmember Cross No: 0 City of Apache Junction,Arizona Page 2 Superstition Vistas Community Special Meeting Minutes February 17,2026 Facilities District No.2 This Item was addressed under Item No. 2. E. District Manager Report F. District Director Report G. District Treasurer Report H. Adjournment Chair Wilson adjourned the meeting at 6:16 p.m. ACCEPTED THIS DAY OF , 2026, BY THE CHAIR PERSON AND DISTRICT BOARD OF THE SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 2 (CITY OF APACHE JUNCTION, ARIZONA). SIGNED AND ATTESTED TO THIS DAY OF 2026. Walter"Chip" Wilson Chair Person ATTEST: Evie McKinney District Clerk City of Apache Junction,Arizona Page 3 City of Apache Junction, Arizona 300 E Superstition > Apache Junction,Boulevard 85119 _� Agenda Item Cover Sheet p ` Agenda Item No.2. Piz File ID: 26-155 Sponsor: Agenda Date:4/21/2026 Index: In Control: Superstition Vistas Community Facili Presentation, discussion and consideration of Resolution No. SVCFD2 2026-005, a resolution of the district board of Superstition Vistas Community Facilities District No. 2, approving the Third Amendment to the Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement related to the acquisition of infrastructure, tax rates and assessments, and approving and authorizing all actions in connection with such substitution. City of Apache Junction,Arizona Page 1 Printed on 4/16/2026 RESOLUTION NO . SVCFD2 2026-005 A RESOLUTION OF THE DISTRICT BOARD OF SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 2 APPROVING A THIRD AMENDMENT TO THE AMENDED AND RESTATED DISTRICT DEVELOPMENT, FINANCING PARTICIPATION, WAIVER AND INTERGOVERNMENTAL AGREEMENT RELATED TO ACQUISITION OF INFRASTRUCTURE, TAX RATES AND ASSESSMENTS; AND APPROVING AND AUTHORIZING ALL ACTIONS HERETOFORE AND HEREAFTER TAKEN IN CONNECTION HEREWITH NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 2, AS FOLLOWS : SECTION 1 FINDINGS A. At the time of formation of Superstition Vistas Community Facilities District No . 2 (the "District") , the District, the City of Apache Junction, Arizona (the "City") , and D. R. Horton, Inc. , entered into a District Development, Financing Participation, Waiver and Intergovernmental Agreement, dated as of February 22, 2022 (the "Original CFD Development Agreement") , recorded as Fee No . 2022-021690 in the official records of Pinal County. B. Pursuant to Section 10 . 3 of the Original CFD Development Agreement, D.R. Horton, Inc . , assigned its rights, title, interest, duties, obligations and liabilities as Developer (as defined in the Original CFD Development Agreement) under the Original CFD Development Agreement to Brookfield Homes Holdings, LLC ("Brookfield Homes") , all as documented in the Assignment and Assumption of District Development, Financing Participation, Waiver and Intergovernmental Agreement (Superstition Vistas Community Facilities District No. 2) , dated as of March 14, 2022 (the "Assignment to Brookfield Homes") , and recorded as Fee No . 2022-087119 in the official records of Pinal County. The City and the District consented to such Assignment to Brookfield Homes . C . Subsequent to the Assignment to Brookfield Homes, Brookfield Homes requested the assignment of its rights, title, RESOLUTION NO. SVCFD2 2026-005 PAGE 1 OF 5 interest, duties, obligations, and liabilities as Developer to Brookfield ASLD 8500, LLC ("Brookfield ASLD 8500") , in accordance with Section 10 . 3 of the Original CFD Development Agreement, provided that Brookfield Homes would retain certain duties, obligations, and liabilities as a guarantor and indemnitor . In connection with the foregoing, the District, the City, Brookfield Homes and Brookfield ASLD 8500 entered into that certain Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2, dated as of October 10, 2022 (the "CFD Development Agreement") , and recorded as Fee No. 2022-106816 in the official records of Pinal County. D. Following Brookfield ASLD 8500 assuming the role of Developer under the CFD Development Agreement, all landowners within the District petitioned the District to delete approximately 97 acres from the boundaries of the District, and in connection therewith the City, the District, Brookfield ASLD 8500 and Brookfield Homes executed and delivered the First Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement, dated as of January 25, 2024 (the "First Amendment to CFD Development Agreement") , and recorded as Fee No. 2024-100195 in the official records of Pinal County. E. Following a corporate realignment of, and additional equity investment in, Brookfield ASLD 8500, Brookfield Homes assigned its duties, obligations, and liabilities as a guarantor and indemnitor to Brookfield Communities US Holdings LLC ("Brookfield Communities") and North America Sekisui House US Holdings, LLC ("NASH") and in connection therewith, the City, the District, Brookfield Communities, NASH and Brookfield ASLD 8500 executed and delivered a Second Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement (the "Second Amendment to CFD Development Agreement") , and recorded as Fee No. 2025-093640 in the official records of Pinal County. F. Brookfield ASLD 8500 has requested and the District has determined it to be in order to approve the Third Amendment to RESOLUTION NO. SVCFD2 2026-005 PAGE 2 OF 5 Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement (the "Third Amendment to CFD Development Agreement"') , in substantially the form now on file with the clerk of the District in order to modify (i) the time permitted for the District to acquire certain infrastructure, (ii) certain matters relating to the property tax rate for the District' s general obligation bonds and (iii) the permitted amount of the District' s special assessment on any individual residential lot . SECTION 2 APPROVAL OF THIRD AMENDMENT TO CFD DEVELOPMENT AGREEMENT The Third Amendment to CFD Development Agreement is hereby approved in substantially the form submitted herewith, with such changes, additions, deletions, insertions and omissions, if any, as the chairman of the District, with the advice of the manager of the District and the attorney of the District, shall authorize, and the execution and delivery of the Third Amendment to CFD Development Agreement shall be conclusive evidence of the propriety of such document and the authority of the person or persons executing the same . The chairman of the District, with the advice of the manager of the District and the attorney of the District, is hereby authorized and directed to execute, and the clerk of the District to attest and deliver, the Third Amendment to CFD Development Agreement on behalf of the District . SECTION 3 APPROVAL AND AUTHORIZATION OF ACTIONS All actions of the officers, officials, employees and agents of the District which conform to the purposes and intent of this resolution whether heretofore or hereafter taken are hereby ratified, confirmed and approved. The proper officers, officials, employees and agents of the District are hereby authorized and directed to do all such acts and things and to execute and deliver all such documents on behalf of the District as may be necessary to carry out the terms and intent of this resolution . The engagement by the District of outside legal counsel or consultants is hereby authorized. RESOLUTION NO. SVCFD2 2026-005 PAGE 3 OF 5 SECTION 4 NO LIABILITY OF OR FOR THE MUNICIPALITY; SEVERABILITY; AMENDMENT; EFFECTIVE DATE A. Neither the City nor the State of Arizona or any political subdivision of either (other than the District) shall be directly, indirectly or morally liable or obligated for the payment or repayment of any indebtedness, liability, cost, expense or obligation of the District, and neither the credit nor the taxing power of the City, the State of Arizona or any political subdivision of either (other than the District) shall be pledged therefor. B. If any section, paragraph, clause or provision of this resolution shall for any reason be held to be invalid or unenforceable, the invalidity or unenforceability of such section, paragraph, clause or provision shall not affect any of the remaining provisions of this resolution. The District Board hereby declares that it would have adopted this resolution and each and every other section, paragraph, clause or provision hereof and authorized the Third Amendment to CFD Development Agreement pursuant hereto irrespective of the fact that any one or more sections, paragraphs, clauses or provisions may be held to be invalid, illegal or unenforceable . B. All resolutions or parts thereof inconsistent herewith are hereby waived to the extent only of such inconsistency. C. This resolution shall be effective immediately. Signature page to follow. RESOLUTION NO. SVCFD2 2026-005 PAGE 4 OF 5 PASSED AND ADOPTED BY THE BOARD OF DIRECTORS OF THE SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 2, THIS DAY OF 2026 . SIGNED AND ATTESTED TO THIS DAY OF 2026. WALTER "CHIP" WILSON Chairman, Board of Directors ATTEST: EVIE MCKINNEY District Clerk APPROVED AS TO FORM: -,:�4 .4.I6.2c, RICHARD JOEL STERN District Counsel RESOLUTION NO. SVCFD2 2026-005 PAGE 5 OF 5 When recorded, return to: Zachary D. Sakas, Esq. Greenberg Traurig, LLP 2375 East Camelback Road, Suite 800 Phoenix, Arizona 85016 THIRD AMENDMENT TO AMENDED AND RESTATED DISTRICT DEVELOPMENT, FINANCING PARTICIPATION, WAIVER AND INTERGOVERNMENTAL AGREEMENT by and among CITY OF APACHE JUNCTION, ARIZONA, SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 2, BROOKFIELD COMMUNITIES US HOLDINGS LLC, NORTH AMERICA SEKISUI HOUSE, LLC, and BROOKFIELD ASLD 8500 LLC Dated as of , 2026 THIS THIRD AMENDMENT TO AMENDED AND RESTATED DISTRICT DEVELOPMENT, FINANCING PARTICIPATION, WAIVER AND INTERGOVERNMENTAL AGREEMENT, dated as of _, 2026 (this "Amendment"), is entered into by and among the City of Apache Junction, Arizona, an Arizona municipal corporation (the "Municipality"); Superstition Vistas Community Facilities District No. 2, a community facilities district formed by the Municipality, and duly organized and validly existing,pursuant to the laws of the State of Arizona(the"District"); Brookfield Communities US Holdings LLC, a Delaware limited liability company duly organized and validly existing pursuant to the laws of the State of Delaware ("Brookfiield Communities"), which has an interest in certain property in the District and is an investor, guarantor and indemnitor but is not a developer; North America Sekisui House, LLC, a Delaware limited liability company duly organized and validly existing pursuant to the laws of the State of Delaware(together with Brookfield Communities, the "Indemnitor Parties"), which has an interest in certain property in the District and is an investor, guarantor and indemnitor but is not a developer; and Brookfield ASLD 8500 LLC, a Delaware limited liability company duly organized and validly existing pursuant to the laws of the State of Delaware(the"Developer"), which has an interest in certain property within the boundaries of the District and is an investor, developer, guarantor and indemnitor. The Property (as defined in the hereinafter defined CFD Development Agreement) is land granted to the Arizona State Land Department ("ASLD"), and ASLD has permitted the recordation of this Amendment on the Property pursuant to Section 2.7 of the Participation Contract(as defined in the CFD Development Agreement). RECITALS A. The Municipality, the District, Brookfield Homes Holdings LLC ("Brookfield Homes") and the Developer previously entered into the Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement, dated as of October 10, 2022, and recorded on October 11, 2022, as Fee No. 2022-1 068 1 6 in the official records of Pinal County, Arizona (the"Original CFD Development Agreement'). B. Brookfield Homes, Developer and ASLD, together with the other owners of all land within the boundaries of the District, subsequently requested that the boundaries of the District be amended to delete certain real property constituting approximately 97 acres, and the revised boundaries of the District are legally described on Exhibit A attached hereto. In connection with the amendment of the boundaries of the District, Brookfield Homes, the City, the Developer and the District entered into the First Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement, dated as of January 25, 2024, and recorded on December 31, 2024, as Fee No. 2024-100195 in the official records of Pinal County, Arizona (the "First Amendment" and, the Original CFD Development Agreement as amended by the First Amendment and the hereinafter defined Second Amendment, the "CFD Development Agreement"). Capitalized terms used and not otherwise defined herein shall have the meanings ascribed in the CFD Development Agreement. C. Brookfield Homes and the Developer subsequently advised the Municipality and the District that due to changes in the overarching corporate structure of the Developer and Brookfield Homes, Brookfield Homes was no longer the appropriate entity to provide additional financial support with respect to the Developer's development of the Property within the boundaries of the District, and requested that the obligations of Brookfield Homes pursuant to the CFD Development Agreement be assigned to, and assumed by, the Indemnitor Parties. In connection with such assignment and assumption, the District, the Municipality, the Developer, and the Indemnitor Parties entered into, and Brookfield Homes consented to, the Second Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement, dated as of November 19, 2025, and recorded on November 19,2025, as Fee No. 2025-093640 in the official records of Pinal County, Arizona (the "Second Amendment"). D. In light of recent changes in the Pinal County Assessor process to determine assessed valuations of the Property within the boundaries of the District, as well as in order to facilitate the Developer's continued development of the Property,the Developer has requested this Amendment to modify provisions in the CFD Development Agreement pertaining to the District's tax rate for General Obligation Bonds, the permitted amount of the District's Assessments, and with respect to the timing of the District's acquisition of certain Infrastructure projects. E. The Mayor and Council of the Municipality approved the execution and delivery of this Amendment pursuant to Resolution No. 26- , passed and adopted on April , 2026. F. The District Board of the District approved the execution and delivery of this Amendment pursuant to Resolution No. SVCFD2 2026-00 , passed and adopted on April , 2026. G. The Municipality, the District, the Indemnitor Parties, and the Developer now desire to amend the CFD Development Agreement as provided herein. AGREEMENT NOW, THEREFORE, in the joint and mutual exercise of their powers, in consideration of the above premises and of the mutual covenants herein contained and for other valuable consideration, and subject to the conditions set forth herein, the parties hereto agree that: 1. In Section 1.1(a) of the CFD Development Agreement, the following definition is hereby added after the definition of"Auction Property" and before the definition of "Bonds": "Backbone Infrastructure" has the meaning ascribed in Section 2.2(b) of the Participation Contract. 2. Section 6.2(b) of the CFD Development Agreement is hereby deleted in its entirety and replaced with the following: "(b) A series of the General Obligation Bonds shall only be issued if the debt service therefor is reasonably projected to be amortized from amounts generated by a tax rate of 2 not to exceed $5.00 per one hundred dollars ($100.00) of net assessed limited property valuation of taxable property within the boundaries of the District as indicated on the certified tax roll for the current tax year; provided, however, and notwithstanding the foregoing, General Obligation Bonds may be issued if authorized by the District Board, in its sole discretion, where a tax rate greater than$5.00 is necessary to pay the combined debt service of a proposed and any outstanding General Obligation Bonds if other financial assurances, sources of revenue or security acceptable to the District Board, in its sole discretion, are provided to secure the payment of debt service on the General Obligation Bonds." 3. Section 6.3(b)(1) of the CFD Development Agreement is hereby deleted in its entirety and replaced with the following: "(b)(1)The Assessments shall be levied based on the Financeable Amount, but in any case shall, subject to Section 6.3(d), not exceed $12,500.00 per single family residential lot. Upon the request of the District, the Developer shall submit data and other information pertaining to the expected average full cash value of the improved residential parcel,such as comparable sales prices, per foot construction costs, or independent estimates or appraisals." 4. The third sentence of Section 7.1 of the CFD Development Agreement is hereby replaced in its entirety to read as follows: "If sufficient Bond proceeds are not available, the Municipality or, as applicable, other governmental entity, shall accept such Infrastructure, subject to the rights of the Developer within the immediately succeeding ten(10)years from the date of acceptance, or in the case of the Infrastructure which constitutes Backbone Infrastructure, within the immediately succeeding fifteen (15) years from the date of acceptance, to seek reimbursement from the District for the advance of Project Construction Costs and/or Segment Prices made by the Developer for the benefit of the District from future Bond proceeds; provided, if the Developer seeks reimbursement there shall be deducted from the reimbursement amount the amount, if any, expended by the Municipality, the District or, as applicable, the other governmental entity, for the purposes described in Section 1.7(b)(3)." 5. In accordance with this Amendment, conforming edits to the tax rate, assessment amount, and reimbursement period described in the Form of Disclosure Statement attached as Exhibit E to the CFD Development Agreement are hereby authorized and approved. 6. The CFD Development Agreement, as amended by this Amendment, is hereby ratified and shall remain in full force and effect. IN WITNESS WHEREOF, the officers of the Municipality and of the District have duly affixed their signatures and attestations, and the officers of the Indemnitor Parties and the Developer their signatures, all as of the day and year first written above. [Signature Pages to Follow] 3 CITY OF APACHE JUNCTION, ARIZONA, a municipal corporation By: — - Walter"Chip" Wilson, Mayor STATE OF ARIZONA ) )ss. COUNTY OF PINAL ) The foregoing instrument was acknowledged before me this day of , 2026, by Walter "Chip" Wilson, as Mayor of the City of Apache Junction, Arizona, a municipal corporation under the laws of the State of Arizona. Notary Public (Affix Seal Here) ATTEST: Evie McKinney, City Clerk Pursuant to A.R.S. Section 11-952(D), this Amendment has been reviewed by the undersigned attorney for the Municipality who has determined that this Amendment is in proper form and is within the powers and authority granted pursuant to the laws of this State to the Municipality. Richard Joel Stern, City Attorney [Signature Page to Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2] SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 2 By: Walter"Chip" Wilson, Chairman, District Board STATE OF ARIZONA ) )ss. COUNTY OF PINAL ) The foregoing instrument was acknowledged before me this day of , 2026, by Walter "Chip" Wilson, as Chairman of the Board of Directors of Superstition Vistas Community Facilities District No. 2, an Arizona community facilities district. Notary Public (Affix Sea!Here) ATTEST: Evie McKinney, District Clerk Pursuant to A.R.S. Section 11-952(D), this Amendment has been reviewed by the undersigned attorney for the District, who has determined that this Amendment is in proper form and is within the powers and authority granted pursuant to the laws of this State to the District. Richard Joel Stern, District Counsel [Signature Page to Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2] DEVELOPER: BROOKFIELD ASLD 8500 LLC, a Delaware limited liability company By: Name: Eric J. Tune Its: Authorized Signatory STATE OF ARIZONA } )ss. COUNTY OF MARICOPA ) The foregoing instrument was acknowledged before me this day of , 2026, by Eric J. Tune, the Authorized Signatory of Brookfield ASLD 8500 LLC, a Delaware limited liability company. (Seal and Expiration Date) Notary Public in and for the State of [Signature Page to Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2] INDEMNITOR PARTIES: BROOKFIELD COMMUNITIES US HOLDINGS LLC, a Delaware limited liability company By: Name: Richard T. Whitney Its: A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached,and not the truthfulness,accuracy,or validity of that document. STATE OF CALIFORNIA ) ss. County of ) On 2026, before me, a Notary Public, personally appeared , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s)is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. Signature: (Seal) [Signature Page to Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2] NORTH AMERICA SEKISUI HOUSE, LLC, a Delaware limited liability company By: Name: Its: A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached,and not the truthfulness,accuracy,or validity of that document. STATE OF CALIFORNIA ) ss. County of ) On 2026, before me, a Notary Public, personally appeared , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. Signature: (Seal) [Signature Page to Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2] ACKNOWLEDGMENT AND CONSENT OF AJSD AND WUCFD Reference is made to that certain Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement, dated as of April , 2026 (the "CFD Dei elopment Agreement Amendment"), by and among the City of Apache Junction, Arizona(the"Municipality"), Superstition Vistas Community Facilities District No. 2 (the "District'), Brookfield Communities US Holdings LLC, North America Sekisui House, LLC, and Brookfield ASLD 8500 LLC (the"Developer"), to which this Acknowledgment and Consent(this"Acknowledgment and Consent') is attached. All capitalized terms used and not otherwise defined in this Acknowledgment and Consent shall have the meanings set forth in the CFD Development Agreement Amendment, or, as applicable, the Intergovernmental Agreement by and among the Water Utilities Community Facilities District (City of Apache Junction, Arizona) ("WUCFD"), the Apache Junction Sewer District (formerly known as the Superstition Mountains Community Facilities District No. 1) ("AJSD"), the Superstition Vistas Community Facilities District No. 1 and the Superstition Vistas Community Facilities District No. 2 Pertaining to Community Facilities District Operations, Infrastructure and Financings, dated as of November 30, 2021 and recorded January 24, 2022, in the Official Records of the Pinal County Recorder as Instrument No. 2022-009053 (the"IGA"). The undersigned representatives of AJSD and WUCFD have had the opportunity and right to review the terms and provisions of the CFD Development Agreement Amendment, and, in accordance with the IGA, AJSD and WUCFD each hereby acknowledges and consents to the CFD Development Agreement Amendment and the continuing effect of the terms of Section 10.23 of the CFD Development Agreement, including, without limitation, accepting Infrastructure acquired by the District in accordance with the CFD Development Agreement and A.R.S. Title 48, Chapter 4, Article 6, as amended. Such Section 10.23 of the CFD Development Agreement remains in full force and effect and was not amended by the CFD Development Agreement Amendment. Dated as of April , 2026. [Signature pages to follow] WATER UTILITIES COMMUNITY FACILITIES DISTRICT (CITY OF APACHE JUNCTION, ARIZONA), an Arizona community facilities district By: Walter "Chip" Wilson, Chairman, Board of Directors STATE OF ARIZONA } )ss. COUNTY OF PINAL ) The foregoing instrument was acknowledged before me this day of 2026, by Walter "Chip" Wilson, as Chairman of the Board of Directors of the Water Utilities Community Facilities District(City of Apache Junction,Arizona), an Arizona community facilities district. Notary Public ATTEST: Evie McKinney, District Clerk [Signature Page to Acknowledgment and Consent of AJSD and WUCFD to Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2] APACHE JUNCTION SEWER DISTRICT, an Arizona community facilities district By: Kathleen Waldron, Chairperson, Board of Directors STATE OF ARIZONA ) ) ss. COUNTY OF PINAL } The foregoing instrument was acknowledged before me this day of 2026, by Kathleen Waldron, as the Chairperson of the Board of Directors of the Apache Junction Sewer District, an Arizona community facilities district. Notary Public [Signature Page to Acknowledgment and Consent of AJSD and WUCFD to Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2] LIENHOLDER CONSENT AND AGREEMENT Reference is made to that certain Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2, dated as of April , 2026 (the "CFD Development Agreement Amendment"), by and among the District, the Developer, the Indemnitor Parties and the City (each as defined therein), to which this Lienholder Consent and Agreement is attached. All capitalized terms used and not otherwise defined in this Lienholder Consent and Agreement shall have the meanings set forth in the CFD Development Agreement Amendment. The undersigned,as a lienholder having an interest in real property within the District, hereby consents to the CFD Development Agreement Amendment, acknowledges that the CFD Development Agreement Amendment shall bind all real property in which the undersigned Lienholder has an interest within the boundaries of the District, and authorizes the recordation of the CFD Development Agreement Amendment with respect to all such real property. Without limitation of the foregoing, the undersigned Lienholder acknowledges that the proceedings and related actions contemplated by the CFD Development Agreement Amendment will not violate the Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing, dated as of January 8, 2025 (the "Deed of Trust") made by the Developer, as grantor, for the benefit of the undersigned Lienholder, as beneficiary,or other collateral security instruments by the Developer in favor of the undersigned Lienholder; provided, the preceding is not intended to, and shall not apply, to any provision of such Deed of Trust or other collateral security instruments pertaining to the failure of the Developer to pay any assessment or ad valorem tax levied on any parcel remaining subject to the Deed of Trust or other collateral security instruments in favor of the Lienholder. In no event, however, shall anything in this Consent and Agreement constitute an assumption by the undersigned Lienholder of the obligations of the Developer or the Indemnitor Parties under the CFD Development Agreement, as amended. DATED AS OF: April , 2026. [Signature Page to Follow.] LIENHOLDER: NASH FINANCING, LLC, a Delaware limited liability company By: North America Sekisui House, LLC, a Delaware limited liability company Its: Sole Member By: Name: Its: r notary public or other officer completing this certificate verifies only the identity of the individual who signed f the document to which this certificate is attached,and not the truthfulness,accuracy,or validity of that document. STATE OF CALIFORNIA ) } ss. County of ) On 2026, before me, a Notary Public, personally appeared , who proved to me on the basis of satisfactory evidence to be the person(s)whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. Signature: (Seal) [Signature Page to Consent and Agreement of NASH Financing, LLC, to Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2] CONSENT AND AGREEMENT Reference is made to that certain Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2, dated as of April _, 2026 (the "CFD Development Agreement Amendment"), by and among the District, the Developer, the Indemnitor Parties and the City(each as defined therein),to which this Consent and Agreement is attached. All capitalized terms used and not otherwise defined in this Consent and Agreement shall have the meanings set forth in the CFD Development Agreement Amendment. D.R. Horton, Inc. ("D.R. Horton"), having an interest in the real property within the boundaries of the District, hereby consents to the CFD Development Agreement Amendment,acknowledges that the CFD Development Agreement Amendment shall bind all real property in which D.R. Horton has an interest within the boundaries of the District, and authorizes the recordation of the CFD Development Agreement Amendment with respect to all such real property. In no event, however, shall anything in this Consent and Agreement constitute an assumption by D.R. Horton of the obligations of the Developer, Brookfield Homes or the Indemnitor Parties under the CFD Development Agreement,as amended. DATED AS OF: April _, 2026. [Signature Page to Follow.] D.R. HORTON, INC., a Delaware corporation By: Name: Brent T. Davis Its: STATE OF ARIZONA ) )ss. COUNTY OF MARICOPA ) The foregoing instrument was acknowledged before me this day of 2026, by , the of D.R. Horton, Inc., a Delaware corporation. (Seal and Expiration Date) Notary Public in and for the State of Arizona [Signature Page to Consent and Agreement of D.R. Horton, Inc., to Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2] EXHIBIT A LEGAL DESCRIPTION OF THE PROPERTY INCLUDED IN THE DISTRICT A-1 CFD DESCRIPTION THAT PORTION OF SECTION 17, SECTION 20, THE SOUTH HALF OF SECTION 18 AND THE NORTH HALF OF SECTION 19, TOWNSHIP 1 SOUTH, RANGE 8 EAST OF THE GILA AND SALT RIVER MERIDIAN, PINAL COUNTY, ARIZONA, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A PINAL COUNTY PUBLIC WORKS DEPARTMENT BRASS CAP IN HAND HOLE MARKING THE WEST QUARTER CORNER OF SAID SECTION 20, FROM WHICH A PINAL COUNTY PUBLIC WORKS DEPARTMENT BRASS CAP IN HAND HOLE MARKING THE NORTHWEST CORNER THEREOF BEARS NORTH 0'17'35" WEST, A DISTANCE OF 2641.12 FEET; THENCE NORTH 0'17'35" WEST, ALONG THE WEST LINE OF THE NORTHWEST QUARTER OF SAID SECTION 20, A DISTANCE OF 2641,12 FEET TO SAID NORTHWEST CORNER; THENCE SOUTH 8946'31" WEST, ALONG THE SOUTH LINE OF SECTION 18, A DISTANCE OF 500.00 FEET TO THE BEGINNING OF A CURVE TO THE LEFT HAVING A RADIUS OF 2500.00 FEET, A CENTRAL ANGLE OF 22'55'06", AND A CHORD THAT BEARS SOUTH 78'18'58" WEST, 993.35 FEET; THENCE ALONG SAID CURVE, A DISTANCE OF 1000.00 FEET; a THENCE SOUTH 66'51'25" WEST, A DISTANCE OF 540.51 FEET TO THE BEGINNING OF A CURVE TO THE a RIGHT HAVING A RADIUS OF 3000.00 FEET, A CENTRAL ANGLE OF 30'39'58", AND A CHORD THAT l; BEARS SOUTH 82'11'24" WEST, 1586.58 FEET; THENCE ALONG SAID CURVE, A DISTANCE OF 1605.68 FEET; g THENCE NORTH 82'28'36" WEST, A DISTANCE OF 583.29 FEET; a C THENCE NORTH 53'29'13" EAST, A DISTANCE OF 910.07 FEET TO A POINT ON THE SOUTH LINE OF SAID SECTION 18; THENCE NORTH 53'29'26" EAST, A DISTANCE OF 4200.33 FEET TO A POINT ON THE WEST LINE OF THE SOUTHWEST QUARTER OF SECTION 17; b THENCE NORTH 017'10" WEST, ALONG SAID WEST LINE, A DISTANCE OF 155.64 FEET TO THE WEST QUARTER CORNER OF SAID SECTION 17; THENCE NORTH 013'51" WEST, ALONG THE WEST LINE OF THE NORTHWEST QUARTER OF SAID SECTION 17, A DISTANCE OF 2639.88 FEET TO NORTHWEST CORNER THEREOF; THENCE NORTH 89'45'04" EAST, ALONG THE NORTH LINE OF THE NORTHWEST QUARTER OF SAID SECTION 17, A DISTANCE OF 2642.33 FEET TO THE NORTH QUARTER CORNER THEREOF; THENCE NORTH 89'47'06" EAST, ALONG THE NORTH LINE OF THE NORTHEAST QUARTER OF SAID SECTION 17, A DISTANCE OF 33.50 FEET; 0 LAND THENCE SOUTH 0'16'32" EAST, A DISTANCE OF 830.28 FEET; 46G�at F+CArf�Fy 38862 70 m THENCE NORTH 53'27'53" EAST, A DISTANCE OF 1401.79 FEET RONNIE E. TO A POINT ON THE NORTH LINE OF THE NORTHEAST QUARTER DORS OF SAID SECTION 17; RA/M4 L z 4A. Sa THENCE NORTH 89'47'06" EAST, ALONG SAID NORTH LINE, eXDARes 3-3N'Z� A DISTANCE OF 1480.06 FEET TO THE NORTHEAST CORNER SUNRISE OF SAID SECTION 17; THENCE SOUTH 0'17'17" EAST, ALONG THE EAST LINE OF SAID ENGINEERING NORTHEAST QUARTER, A DISTANCE OF 2641.26 FEET TO THE 2045 SOUTH VINEYARD,SUITE 101 EAST QUARTER CORNER OF SAID SECTION 17; MESA,ARIZONA 85210 SHEET 1 OF 5 TEL 480.768.8600 M1VNJlW'tA6Og.00A A-7 CFD DESCRIPTION THENCE SOUTH 017'38" EAST, ALONG THE EAST LINE OF THE SOUTHEAST QUARTER OF SAID SECTION 17, A DISTANCE OF 2641,38 FEET TO THE SOUTHEAST CORNER THEREOF; THENCE SOUTH 0'16'25" EAST, ALONG THE EAST LINE OF THE NORTHEAST QUARTER OF SECTION 20, A DISTANCE OF 2640.89 FEET TO THE EAST QUARTER CORNER THEREOF; THENCE SOUTH 015'30" EAST, ALONG THE EAST LINE OF THE SOUTHEAST QUARTER OF SAID SECTION 20, A D STANCE OF 2641.53 FEET TO THE SOUTHEAST CORNER OF SAID SECTION 20; THENCE SOUTH 89'46'59" WEST, ALONG THE SOUTH LINE OF SAID SOUTHEAST QUARTER, A DISTANCE OF 2643.37 FEET TO THE SOUTH QUARTER CORNER OF SAID SECTION 20; THENCE SOUTH 89'48'18" WEST, ALONG THE SOUTH LINE OF THE SOUTHWEST QUARTER OF SAID SECTION 20, A DISTANCE OF 2643,78 FEET TO THE SOUTHWEST CORNER THEREOF; THENCE NORTH 0'17'01" WEST, ALONG THE WEST LINE OF SAID SOUTHWEST QUARTER, A DISTANCE OF 2640.28 FEET TO THE POINT OF BEGINNING. a EXCEPT PARCEL "A" OF THE FINAL PLAT FOR PHASE 5 COMMERCIAL, RECORDED ON FEE NUMBER 2024-051060, PINAL COUNTY RECORDS; EXCEPT PARCEL "A" OF THE FINAL PLAT FOR PHASE 3 COMMERCIAL, RECORDED ON FEE NUMBER A 2024-061061, P NAL COUNTY RECORDS; s € AND EXCEPT PARCEL "11, 12, 13 & 14" OF THE FINAL PLAT FOR BLOSSOM ROCK PHASE 1, RECORDED d ON FEE NUMBER 2022-084918, PINAL COUNTY RECORDS. 1i a CONTAINS 57166135 SQUARE FEET OR 1312.3539 ACRES OF LAND, MORE OR LESS. SEE ATTACHED EXHIBIT "A" BY REFERENCE MADE A PART HERETO. �y� °L os'� IF Icar£�F is 38862 RONNIE E. DORS �reJ�/6�2024 ARIZONn. e, 'O,res 3-3% 1< S tl a fpSUNRISE ENGINEERING 2045 SOVTH VINEYARD,SVrTE 101 MESA,ARIZORA 65210 SHEET 2 OF 5 TE4 4W,760 06M wwwao rim-agora A-3 EXHIB[T "A" S�µFD lANO NORTHEAST CORNER �FiCA SEC 17 T1S, R8E G&SRM 38852 FOUND 3" BRASS CAP FLUSH BONNIE E. DORS STAMPED %S 35306" e• NORTHWEST CORNER $HI2/s7W2+ SEC 17 T1S, RBE G&SRM NORTHEAST CORNER FOUND PINAL COUNTY SEC 17 T1S, RBE G&SRM L9 FOUND GLO 1914 BRASS CAP HIGHWAY DEPARTMENT L10 BRASS CAP LB L11 L12 ELLIOT AVENUE EAST 1/4 CORNER (ALIGNMENT) SEC 17 T1S, R8E G&SRM J WEST QUARTER CORNER J FOUND 2" GLO 1914 SEC 17 T1S, R8E G&SRM BRASS CAP FLUSH FOUND BRASS CAP IN HAND HOLE a SEC 18 T1S RBE SEC 17 T1S R8E SOUTHEAST CORNER SOUTHWEST CORNER SEC 17 SEC 17 T SOUTHEAST CORNER SEC 16 NORTHEAST CORNER W �5 NORTHWEST CORNER SEC 20 't SEC 20 T1 S, R8E G&SRM �' T1 S, R8E G&SRM FOUND PINAL COUNTY PWD FOUND GLO 1914 C _ _ BRASS CAP IN HAND HOLE BRASS CAP FLUSH Ct L1 WARN�R ROAD W L3 C7 ; (ALIGNMENT) Z EAST 1/4 CORNER Ln n (ry L0 SEC 20 J T1S, RBE G&SRM m z N D FOUND GLO 1914 BRASS CAP FLUSH g SEC 19 TiS R8E O SEC 20 T1S RBE Q POB of SOUTHEAST CORNER WEST QUARTER CORNER Z SEC 20 T1S, R8E G&SRM O O �9. SEC 20 FOUND PINAL COUNTY PWD T1S, R8E G&SRM BRASS CAP IN HAND HOLE 0 FOUND GLO 1914 _ BRASS CAP FLUSH RAY AVENUE L18 L17 x SOUTHWEST CORNER SOUTH 1/4 CORNER 1 SEC 20 T1S, R8E G&SRM SEC 20 m FOUND PINAL COUNTY HIGHWAY T1S, RBE G&SRM DEPARTMENT BRASS CAP IN HAND HOLE FOUND 2 1/2 GLO BRASS CAP d' SUNRISE ENGINEERING NOT TO SCALE 204S SOUTH VINEYARD,SUM io1 MESA,ARIZONA 85210 SHEET 3 OF 5 TEL 480.766.6600 wwwjwv4e'mcow A-4 EXHIB T "A" I L9 L10 _ _ _ L8 L11 L12 ELLIOT AVENUE (ALIGNMENT) J J a s SEC 18 T1S R8E SEC 17 T1S R8E a t✓1 L3 WARNER ROAD W L3 C2 _ (ALIGNMENT) Z Lo m CS N O W O J J a 0 > Q SEC 19 T1 S R8E Z O SEC 20 T1 S R8E D a i m 0 co g RAY AVENUE L18 L17 EXCEPTION O PARCEL "A", PHASE 5 COMMERCIAL pEfl LAND SV� FEE 2024-061060, PCR �y�' yZ\FICArf F EXCEPTION 38862 RONNIE E. NOT TO SCALE 2° PARCEL "A", PHASE 3 COMMERCIAL DORS FEE 2024-061061, PCR EXCEPTION RIZONA.Vy� SUNRISE 3° PARCEL 11, 12, 13 & 14 FkPires3-3� 2� ENGINEERING BLOSSOM ROCK PHASE 1 FEE 2022-084918, PCR 2045 SOUTH VINEVARO,Sarre 101 MESA,ARIZONA OS210 TEL 480.760.0 SHEET 4 OF 5 600 A-5 EXHIBIT "A" CURVE TABLE CURVE DELTA RADIUS LENGTH CHORD BEARING CHORD DIST Cl 22'55'06" 2500.00 1000,00' S7818'58"W 993.35' C2 30'39'58" 3000.00 1605.68' S8211'24"W 1586.58' LINE TABLE LINE # DIRECTION LENGTH LEGEND a Ll SB9'46'31"W 500.00' SUBJECT BOUNDARY m — PLSS SECTION LINE a L2 S66'51'25"W 540.51' PLSS SUB SECTION LINE z L3 N82'28'36"W 583.29' .Y s L4 N53'29'1A 910.07' L5 N53'29'26"E 4200.33' ABBREVIATIONS 9 e L6 N017'10'W 155.64' APN ASSESSOR PARCEL NUMBER E EAST ¢ L7 NO'l3'51"W 2639,88' GLO GENERAL LAND OFFICE G&SRM GILA & SALT RIVER MERIDIAN L8 N89'45'04-E 2642,33' LS LAND SURVEYOR e N NORTH L9 N89'47'06"E 33.50' PCR PINAL COUNTY RECORDS PLSS PUBLIC LAND SURVEY SYSTEM L10 S016'32"E 830.28' POB POINT OF BEGINNING 4 L POC POINT OF COMMENCEMENT 11 N53'27'53"E 1401.79' PWD PUBLIC WORKS DEPARTMENT L12 N89'47`06"E 1480.06' R RANGE S SOUTH L13 SO17'17"E 2641.26' T TOWNSHIP µ(o LAND a W WEST �S SiF CAI,, L14 SO'l7'38"E 2641.38' 38862 RONNIE E. DORS L15 S016'25"E 2640.89' ' L16 SO'15'30"E 2641.53' 4RiLpP1p,V'P L17 S89'46'59"W 2643.37' Fxp`re9 3 L18 S89'48'18"W 2643.78' faSUNRISE L19 N017'01"W 2640.28' ENGINEERING 2045 SOUTH VINEYARD,SUITE 101 MESA,ARIZONA 8S210 SHEET 5 OF 5 TEL 480.768.8500 NMMJIY twoi&cam A-6 When recorded, return to: Zachary D. Sakas, Esq. Greenberg Traurig, LLP 2375 East Camelback Road, Suite 800 Phoenix, Arizona 85016 THIRD AMENDMENT TO AMENDED AND RESTATED DISTRICT DEVELOPMENT, FINANCING PARTICIPATION, WAIVER AND INTERGOVERNMENTAL AGREEMENT by and among CITY OF APACHE JUNCTION, ARIZONA, SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 2, BROOKFIELD COMMUNITIES US HOLDINGS LLC, NORTH AMERICA SEKISUI HOUSE, LLC, and BROOKFIELD ASLD 8500 LLC Dated as of , 2026 THIS THIRD AMENDMENT TO AMENDED AND RESTATED DISTRICT DEVELOPMENT, FINANCING PARTICIPATION, WAIVER AND INTERGOVERNMENTAL AGREEMENT, dated as of _ , 2026 (this "Amendment'), is entered into by and among the City of Apache Junction, Arizona, an Arizona municipal corporation (the "Municipality"); Superstition Vistas Community Facilities District No. 2, a community facilities district formed by the Municipality, and duly organized and validly existing, pursuant to the laws of the State of Arizona(the"District'); Brookfield Communities US Holdings LLC, a Delaware limited liability company duly organized and validly existing pursuant to the laws of the State of Delaware ("Brookfield Communities"), which has an interest in certain property in the District and is an investor, guarantor and indemnitor but is not a developer; North America Sekisui House, LLC, a Delaware limited liability company duly organized and validly existing pursuant to the laws of the State of Delaware(together with Brookfield Communities, the "Indemnitor Parties"), which has an interest in certain property in the District and is an investor, guarantor and indemnitor but is not a developer; and Brookfield ASLD 8500 LLC, a Delaware limited liability company duly organized and validly existing pursuant to the laws of the State of Delaware(the"Developer"), which has an interest in certain property within the boundaries of the District and is an investor, developer, guarantor and indemnitor. The Property (as defined in the hereinafter defined CFD Development Agreement) is land granted to the Arizona State Land Department ("ASLD"), and ASLD has permitted the recordation of this Amendment on the Property pursuant to Section 2.7 of the Participation Contract(as defined in the CFD Development Agreement). RECITALS A. The Municipality, the District, Brookfield Homes Holdings LLC ("Brookfield Homes") and the Developer previously entered into the Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement, dated as of October 10,2022, and recorded on October 11, 2022, as Fee No. 2022-106816 in the official records of Pinal County, Arizona (the "Original CFD Development Agreement'). B. Brookfield Homes, Developer and ASLD, together with the other owners of all land within the boundaries of the District, subsequently requested that the boundaries of the District be amended to delete certain real property constituting approximately 97 acres, and the revised boundaries of the District are legally described on Exhibit A attached hereto. In connection with the amendment of the boundaries of the District, Brookfield Homes, the City, the Developer and the District entered into the First Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement, dated as of January 25, 2024, and recorded on December 31, 2024, as Fee No. 2024-100195 in the official records of Pinal County, Arizona (the "First Amendment" and, the Original CFD Development Agreement as amended by the First Amendment and the hereinafter defined Second Amendment, the "CFD Development Agreement'). Capitalized terms used and not otherwise defined herein shall have the meanings ascribed in the CFD Development Agreement. C. Brookfield Homes and the Developer subsequently advised the Municipality and the District that due to changes in the overarching corporate structure of the Developer and Brookfield Homes, Brookfield Homes was no longer the appropriate entity to provide additional financial support with respect to the Developer's development of the Property within the boundaries of the District, and requested that the obligations of Brookfield Homes pursuant to the CFD Development Agreement be assigned to, and assumed by, the Indcmnitor Parties. In connection with such assignment and assumption, the District, the Municipality, the Developer, and the Indemnitor Parties entered into, and Brookfield Homes consented to, the Second Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement, dated as of November 19, 2025, and recorded on November 19, 2025, as Fee No. 2025-093640 in the official records of Pinal County,Arizona(the "Second Amendment"). D. In light of recent changes in the Pinal County Assessor process to determine assessed valuations of the Property within the boundaries of the District, as well as in order to facilitate the Developer's continued development of the Property,the Developer has requested this Amendment to modify provisions in the CFD Development Agreement pertaining to the District's tax rate for General Obligation Bonds, the permitted amount of the District's Assessments, and with respect to the timing of the District's acquisition of certain Infrastructure projects. E. The Mayor and Council of the Municipality approved the execution and delivery of this Amendment pursuant to Resolution No. 26-_, passed and adopted on April , 2026. F. The District Board of the District approved the execution and delivery of this Amendment pursuant to Resolution No. SVCFD2 2026-00 , passed and adopted on April 2026. G. The Municipality, the District, the Indemnitor Parties, and the Developer now desire to amend the CFD Development Agreement as provided herein. AGREEMENT NOW, THEREFORE, in the joint and mutual exercise of their powers, in consideration of the above premises and of the mutual covenants herein contained and for other valuable consideration, and subject to the conditions set forth herein, the parties hereto agree that: 1. In Section 1.1(a) of the CFD Development Agreement, the following definition is hereby added after the definition of"Auction Property" and before the definition of "Bonds": "Backbone Infi-astructure" has the meaning ascribed in Section 2.2(b) of the Participation Contract. 2. Section 6.2(b) of the CFD Development Agreement is hereby deleted in its entirety and replaced with the following: "(b) A series of the General Obligation Bonds shall only be issued if the debt service therefor is reasonably projected to be amortized from amounts generated by a tax rate of 2 not to exceed $5.00 per one hundred dollars ($100.00) of net assessed limited property valuation of taxable property within the boundaries of the District as indicated on the certified tax roll for the current tax year; provided, however, and notwithstanding the foregoing, General Obligation Bonds may be issued if authorized by the District Board, in its sole discretion, where a tax rate greater than$5.00 is necessary to pay the combined debt service of a proposed and any outstanding General Obligation Bonds if other financial assurances, sources of revenue or security acceptable to the District Board, in its sole discretion, are provided to secure the payment of debt service on the General Obligation Bonds." 3. Section 6.3(b)(1) of the CFD Development Agreement is hereby deleted in its entirety and replaced with the following: "(b)(l)The Assessments shall be levied based on the Financeable Amount, but in any case shall, subject to Section 6.3(d), not exceed $12,500.00 per single family residential lot. Upon the request of the District, the Developer shall submit data and other information pertaining to the expected average full cash value of the improved residential parcel,such as comparable sales prices, per foot construction costs, or independent estimates or appraisals." 4. The third sentence of Section 7.1 of the CFD Development Agreement is hereby replaced in its entirety to read as follows: "If sufficient Bond proceeds are not available, the Municipality or, as applicable, other governmental entity, shall accept such Infrastructure, subject to the rights of the Developer within the immediately succeeding ten (10) years from the date of acceptance, or in the case of the Infrastructure which constitutes Backbone Infrastructure, within the immediately succeeding fifteen (15) years from the date of acceptance, to seek reimbursement from the District for the advance of Project Construction Costs and/or Segment Prices made by the Developer for the benefit of the District from future Bond proceeds; provided, if the Developer seeks reimbursement there shall be deducted from the reimbursement amount the amount, if any, expended by the Municipality, the District or, as applicable, the other governmental entity, for the purposes described in Section 1.7(b)(3)." 5. In accordance with this Amendment, conforming edits to the tax rate, assessment amount, and reimbursement period described in the Form of Disclosure Statement attached as Exhibit E to the CFD Development Agreement are hereby authorized and approved. 6. The CFD Development Agreement, as amended by this Amendment, is hereby ratified and shall remain in full force and effect. IN WITNESS WHEREOF, the officers of the Municipality and of the District have duly affixed their signatures and attestations, and the officers of the Indemnitor Parties and the Developer their signatures, all as of the day and year first written above. [Signature Pages to Follow] 3 CITY OF APACHE JUNCTION, ARIZONA, a municipal corporation By: Walter"Chip" Wilson, Mayor STATE OF ARIZONA ) )ss. COUNTY OF PINAL ) The foregoing instrument was acknowledged before me this day of , 2026, by Walter "Chip" Wilson, as Mayor of the City of Apache Junction, Arizona, a municipal corporation under the laws of the State of Arizona. Notary Public (Affix Seal Here) ATTEST: Evie McKinney, City Clerk Pursuant to A.R.S. Section 11-952(D), this Amendment has been reviewed by the undersigned attorney for the Municipality who has determined that this Amendment is in proper form and is within the powers and authority granted pursuant to the laws of this State to the Municipality. <X 4.16 .26 Richard Joel Stern, City Attorney [Signature Page to Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2] SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 2 By: Walter"Chip"Wilson, Chairman, District Board STATE OF ARIZONA ) }ss. COUNTY OF PINAL } The foregoing instrument was acknowledged before me this day of , 2026, by Walter "Chip" Wilson, as Chairman of the Board of Directors of Superstition Vistas Community Facilities District No. 2, an Arizona community facilities district. Notary Public (Affix Seal Here) ATTEST: Evie McKinney, District Clerk Pursuant to A.R.S. Section 11-952(D), this Amendment has been reviewed by the undersigned attorney for the District,who has determined that this Amendment is in proper form and is within the powers and authority granted pursuant to the laws of this State to the District. Richard Joel Stern, District Counsel [Signature Page to Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2] DEVELOPER: BROOKFIELD ASLD 8500 LLC, a Delaware limited liability company By: ----- Name: Eric J. Tune Its: Authorized Si natoa STATE OF ARIZONA ) )ss. COUNTY OF MARICOPA ) The foregoing instrument was acknowledged before me this day of , 2026, by Eric J. Tune, the Authorized Signatory of Brookfield ASLD 8500 LLC, a Delaware limited liability company. (Seal and Expiration Date) Notary Public in and for the State of [Signature Page to Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2] INDEMNITOR PARTIES: BROOKFIELD COMMUNITIES US HOLDINGS LLC, a Delaware limited liability company By: Name: Richard T. Whitney Its: A notary public or other officer completing this certificate verifies only the identity of the individual who signed 1 the document to which this certificate is attached,and not the truthfulness,accuracy,or validity of that document. STATE OF CALIFORNIA ) ss. County of ) On 2026, before me, a Notary Public, personally appeared , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. Signature: (Seal) [Signature Page to Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2] NORTH AMERICA SEKISUI HOUSE, LLC, a Delaware limited liability company By: -- - --- Name: Its: A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached,and not the truthfulness,accuracy,or validity of that document. STATE OF CALIFORNIA ) ss. County of ) On 2026, before me, a Notary Public, personally appeared , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. Signature: (Seal) [Signature Page to Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2] ACKNOWLEDGMENT AND CONSENT OF AJSD AND WUCFD Reference is made to that certain Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement, dated as of April _, 2026 (the "CFD Development Agreement Amendment'), by and among the City of Apache Junction, Arizona(the"Municipality"), Superstition Vistas Community Facilities District No. 2 (the "District"), Brookfield Communities US Holdings LLC, North America Sekisui House, LLC, and Brookfield ASLD 8500 LLC (the"Developer"), to which this Acknowledgment and Consent(this"Acknowledgment and Consent')is attached. All capitalized terms used and not otherwise defined in this Acknowledgment and Consent shall have the meanings set forth in the CFD Development Agreement Amendment, or, as applicable, the Intergovernmental Agreement by and among the Water Utilities Community Facilities District (City of Apache Junction, Arizona) ("WUCFD"), the Apache Junction Sewer District (formerly known as the Superstition Mountains Community Facilities District No. 1) ("AJSD"), the Superstition Vistas Community Facilities District No. 1 and the Superstition Vistas Community Facilities District No. 2 Pertaining to Community Facilities District Operations, Infrastructure and Financings, dated as of November 30, 2021 and recorded January 24, 2022, in the Official Records of the Pinal County Recorder as Instrument No. 2022-009053 (the"IGA"). The undersigned representatives of AJSD and WUCFD have had the opportunity and right to review the terms and provisions of the CFD Development Agreement Amendment, and, in accordance with the IGA,AJSD and WUCFD each hereby acknowledges and consents to the CFD Development Agreement Amendment and the continuing effect of the terms of Section 10.23 of the CFD Development Agreement, including, without limitation, accepting Infrastructure acquired by the District in accordance with the CFD Development Agreement and A.R.S. Title 48, Chapter 4, Article 6, as amended. Such Section 10.23 of the CFD Development Agreement remains in full force and effect and was not amended by the CFD Development Agreement Amendment. Dated as of April , 2026. (Signature pages to follow] WATER UTILITIES COMMUNITY FACILITIES DISTRICT (CITY OF APACHE JUNCTION, ARIZONA), an Arizona community facilities district By: Walter "Chip" Wilson, Chairman, Board of Directors STATE OF ARIZONA ) )ss. COUNTY OF PINAL } The foregoing instrument was acknowledged before me this day of 2026, by Walter "Chip" Wilson, as Chairman of the Board of Directors of the Water Utilities Community Facilities District(City of Apache Junction,Arizona),an Arizona community facilities district. Notary Public ATTEST: Evie McKinney, District Clerk [Signature Page to Acknowledgment and Consent of AJSD and WUCFD to Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2] APACHE JUNCTION SEWER DISTRICT, an Arizona community facilities district By: Kathleen Waldron, Chairperson, Board of Directors STATE OF ARIZONA ) ss. COUNTY OF PINAL ) The foregoing instrument was acknowledged before me this day of 2026, by Kathleen Waldron, as the Chairperson of the Board of Directors of the Apache Junction Sewer District, an Arizona community facilities district. Notary Public [Signature Page to Acknowledgment and Consent of AJSD and WUCFD to Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2] LIENHOLDER CONSENT AND AGREEMENT Reference is made to that certain Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2, dated as of April , 2026 (the "CFD Development Agreement Amendment'), by and among the District, the Developer, the Indemnitor Parties and the City (each as defined therein), to which this Lienholder Consent and Agreement is attached. All capitalized terms used and not otherwise defined in this Lienholder Consent and Agreement shall have the meanings set forth in the CFD Development Agreement Amendment. The undersigned, as a lienholder having an interest in real property within the District, hereby consents to the CFD Development Agreement Amendment, acknowledges that the CFD Development Agreement Amendment shall bind all real property in which the undersigned Lienholder has an interest within the boundaries of the District, and authorizes the recordation of the CFD Development Agreement Amendment with respect to all such real property. Without limitation of the foregoing, the undersigned Lienholder acknowledges that the proceedings and related actions contemplated by the CFD Development Agreement Amendment will not violate the Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing, dated as of January 8, 2025 (the "Deed of Trust') made by the Developer, as grantor, for the benefit of the undersigned Lienholder, as beneficiary,or other collateral security instruments by the Developer in favor of the undersigned Lienholder; provided, the preceding is not intended to, and shall not apply, to any provision of such Deed of Trust or other collateral security instruments pertaining to the failure of the Developer to pay any assessment or ad valorem tax levied on any parcel remaining subject to the Deed of Trust or other collateral security instruments in favor of the Lienholder. In no event, however, shall anything in this Consent and Agreement constitute an assumption by the undersigned Lienholder of the obligations of the Developer or the Indemnitor Parties under the CFD Development Agreement, as amended. DATED AS OF: April , 2026. [Signature Page to Follow.] LIENHOLDER: NASH FINANCING, LLC, a Delaware limited liability company By: North America Sekisui House, LLC, a Delaware limited liability company Its: Sole Member By: Name: Its: A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached,and not the truthfulness,accuracy,or validity of that document. STATE OF CALIFORNIA ) ss. County of ) On 2026, before me, a Notary Public, personally appeared , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. Signature: (Seal) [Signature Page to Consent and Agreement of NASH Financing, LLC, to Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2] CONSENT AND AGREEMENT Reference is made to that certain Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2, dated as of April , 2026 (the "CFD Development Agreement Amendment"), by and among the District, the Developer, the Indemnitor Parties and the City(each as defined therein),to which this Consent and Agreement is attached. All capitalized terms used and not otherwise defined in this Consent and Agreement shall have the meanings set forth in the CFD Development Agreement Amendment. D.R. Horton, Inc. ("D.R. Horton"), having an interest in the real property within the boundaries of the District, hereby consents to the CFD Development Agreement Amendment,acknowledges that the CFD Development Agreement Amendment shall bind all real property in which D.R. Horton has an interest within the boundaries of the District, and authorizes the recordation of the CFD Development Agreement Amendment with respect to all such real property. In no event, however, shall anything in this Consent and Agreement constitute an assumption by D.R. Horton of the obligations of the Developer, Brookfield Homes or the Indemnitor Parties under the CFD Development Agreement,as amended. DATED AS OF: April , 2026. [Signature Page to Follow.] D.R. HORTON, INC., a Delaware corporation By: Name: Brent T. Davis Its: STATE OF ARIZONA ) )ss. COUNTY OF MARICOPA ) The foregoing instrument was acknowledged before me this _ day of , 2026, by , the of D.R. Horton, Inc., a Delaware corporation. (Seal and Expiration Date) Notary Public in and for the State of Arizona [Signature Page to Consent and Agreement of D.R. Horton, Inc., to Third Amendment to Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement for Superstition Vistas Community Facilities District No. 2] EXHIBIT A LEGAL DESCRIPTION OF THE PROPERTY INCLUDED IN THE DISTRICT A-1 CFO DESCRIPTON THAT PORTION OF SECTION 17, SECTION 20, THE SOUTH HALF OF SECTION 18 AND THE NORTH HALF OF SECTION 19, TOWNSHIP 1 SOUTH, RANGE 8 EAST OF THE GILA AND SALT RIVER MERIDIAN, PINAL COUNTY, ARIZONA, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A PINAL COUNTY PUBL C WORKS DEPARTMENT BRASS CAP IN HAND HOLE MARKING THE WEST QUARTER CORNER OF SAID SECTON 20, FROM WHICH A PINAL COUNTY PUBLIC WORKS DEPARTMENT BRASS CAP IN HAND HOLE MARKING THE NORTHWEST CORNER THEREOF BEARS NORTH 0'17'35" WEST, A DISTANCE OF 2641.12 FEET; THENCE NORTH 0'17'35" WEST, ALONG THE WEST LINE OF THE NORTHWEST QUARTER OF SAID SECTION 20, A DISTANCE OF 2641.12 FEET TO SAID NORTHWEST CORNER; THENCE SOUTH 89'46'31" WEST, ALONG THE SOUTH LINE OF SECTION 18, A DISTANCE OF 500.00 FEET TO THE BEGINNING OF A CURVE —0 THE LEFT HAVING A RADIUS OF 2500.00 FEET, A CENTRAL ANGLE OF 22'55'06', AND A CHORD THAT BEARS SOUTH 78'18'58' WEST, 993.35 FEET; THENCE ALONG SAID CURVE, A DISTANCE OF 1000.00 FEET; a THENCE SOUTH 66'51'25" WEST, A DISTANCE OF 540.51 FEET TO THE BEGINNING OF A CURVE TO THE a RIGHT HAVING A RADIUS OF 3000.00 FEET, A CENTRAL ANGLE OF 30'39'58", AND A CHORD THAT BEARS SOUTH 82'11'24" WEST, 1586.58 FEET; F 4 THENCE ALONG SAD CURVE, A DISTANCE OF 1605.58 FEET; THENCE NORTH 82'28'36" WEST, A DISTANCE OF 583.29 FEET; C THENCE NORTH 53'29'13" EAST, A DISTANCE OF 910.07 FEET TO A POINT ON THE SOUTH LINE OF SAID a SECTION 18; THENCE NORTH 53'29'26" EAST, A DISTANCE OF 4200.33 FEET TO A POINT ON THE WEST LINE OF THE g SOUTHWEST QUARTER OF SECTION 17; c THENCE NORTH 017'10" WEST, ALONG SAID WEST LINE, A DISTANCE OF 155.64 FEET TO THE WEST QUARTER CORNER OF SAID SECTION 17; THENCE NORTH 013'51" WEST, ALONG THE WEST LINE OF THE NORTHWEST QUARTER OF SAID SECTION 17, A DISTANCE OF 2639.88 FEET TO NORTHWEST CORNER THEREOF; THENCE NORTH 89'45'04" EAST, ALONG THE NORTH LINE OF THE NORTHWEST QUARTER OF SAID g SECTION 17, A DISTANCE OF 2642.33 FEET TO THE NORTH QUARTER CORNER THEREOF; THENCE NORTH 89'47'06" EAST, ALONG THE NORTH LINE OF THE NORTHEAST QUARTER OF SAID SECTION 17, A DISTANCE OF 33.50 FEET; s o LrWp THENCE SOUTH 0'16'32" EAST, A DISTANCE OF 830.28 FEET; �If CArfe�a `y 38662 THENCE NORTH 5327'53" EAST, A DISTANCE OF 1401.79 FEET RONN E E TO A POINT ON THE NORTH LINE OF THE NORTHEAST QUARTER DORS OF SAID SECTION 17; 4,OVS�/2024 AAIZONA. S.r THENCE NORTH 89'47'06" EAST, ALONG SAID NORTH LINE, FkA e9 3-3 A DISTANCE OF 1480.06 FEET TO THE NORTHEAST CORNER � SUNRISE OF SAID SECTION 17; THENCE SOUTH 017'17" EAST, ALONG THE EAST LINE OF SAID ENGINEERING NORTHEAST QUARTER, A DISTANCE OF 2641.26 FEET TO THE 2045 SOUTH VINEYARD,SUITE 101 EAST QUARTER CORNER OF SAID SECTION 17; MESA,ARIZONA 8s210 SHEET 1 OF 5 TEL 480.768.8600 ww.rOrim, cm A_7 CFD DESCRIPTION THENCE SOUTH 017'38" FAST, ALONG THE EAST LINE OF THE SOUTHEAST QUARTER OF SAID SECTION 17, A DISTANCE OF 2641.38 FEET TO THE SOUTHEAST CORNER THEREOF; THENCE SOUTH 016'25" EAST, ALONG THE EAST LINE OF THE NORTHEAST QUARTER OF SECTION 20, A DISTANCE OF 2640.89 FEET TO THE EAST QUARTER CORNER THEREOF; THENCE SOUTH 015'30" EAST, ALONG THE EAST LINE OF THE SOUTHEAST QUARTER OF SAID SECTION 20, A DISTANCE OF 2641.53 FEET TO THE SOUTHEAST CORNER OF SAID SECTION 20; THENCE SOUTH 89'46'59" WEST, ALONG THE SOUTH LINE OF SAID SOUTHEAST QUARTER, A DISTANCE OF 2643.37 FEET TO THE SOUTH QUARTER CORNER OF SAID SECTION 20; THENCE SOUTH 89'48'18" WEST, ALONG THE SOUTH LINE OF THE SOUTHWEST QUARTER OF SAID SECTION 20, A DISTANCE OF 2643.78 FEET TO THE SOUTHWEST CORNER THEREOF; THENCE NORTH 017'01" WEST, ALONG THE WEST LINE OF SAID SOUTHWEST QUARTER, A DISTANCE OF a 2640.28 FEET TO THE POINT OF BEGINNING. M EXCEPT PARCEL "A" OF THE FINAL PLAT FOR PHASE 5 COMMERCIAL, RECORDED ON FEE NUMBER 2024-061060, PINAL COUNTY RECORDS; EXCEPT PARCEL "A" OF THE FINAL PLAT FOR PHASE 3 COMMERCIAL, RECORDED ON FEE NUMBER 3 2024-061061, PINAL COUNTY RECORDS; g AND EXCEPT PARCEL "11, 12, 13 & 14" OF THE FINAL PLAT FOR BLOSSOM ROCK PHASE 1, RECORDED g ON FEE NUMBER 2022-084918, PINAL COUNTY RECORDS 1; a CONTAINS 57166135 SQUARE FEET OR 1312.3539 ACRES OF LAND, MORE OR LESS. SEE ATTACHED EXHIBIT "A" BY REFERENCE MADE A PART HERETO. G\L�OLM1D �y t,j Ica b 38862 C� RONNIE E. DORS ,2/5/202. 4 4p. 4R20NA.V' ¢ £"Ypires 3-3� m a fcwIth SUNRISE ENGINEERING 2045 SOUTH VINEYARD,SUITE 101 MESA,ARIZONA 8S210 SHEET 2 OF 5 TEL 480.766.8600 AIVMIIY V�601$.Cif 71 A-3 EXHIBIT "A" NORTHEAST CORNER Qy��Rs FG4Tf SEC 17 TIS, RBE G&SRM 38862 FOUND 3" BRASS CAP FLUSH RONNIE E oORS STAMPED "LS 35306 ' e NORTHWEST CORNER ��s724 SEC 17 T1S, RBE G&SRM NORTHEAST CORNER FOUND PINAL COUNTY SEC 17 T1S, RBE G&SRM L9 F+piles 3_5,%� HIGHWAY DEPARTMENT FOUND GLO 1914 BRASS CAP f L10 BRASS CAP L8 L11 L12 ELLIOT AVENUE EAST 1/4 CORNER (ALIGNMENT) SEC 17 T1S, R8E G&SRM WEST QUARTER CORNER J FOUND 2" GLO 1914 � SEC 17 T1S, R8E G&SRM BRASS CAP FLUSH a FOUND BRASS CAP IN HAND HOLE SEC 18 T1S R8E SEC 17 T1S RBE a SOUTHEAST CORNER X SOUTHWEST CORNER SEC 17 SEC 17 g SOUTHEAST CORNER SEC 18 NORTHEAST CORNER �5 NORTHWEST CORNER SEC 20 J SEC 20 T1 S, R8E G&SRM T1 S, R8E G&SRM FOUND PINAL COUNTY PWD FOUND GLO 1914 BRASS CAP IN HAND HOLE H BRASS CAP FLUSH C1 L1 WAROAD W L3 C2 m N ; (ALIGNMENT) Z EAS1 1/4 CORNER T 2to SEC 20 r � T1S, R8E G&SRM a m z `" O Q FOUND GLO 1914 BRASS CAP FLUSH SEC 19 T1S R8E 0 SEC 20 T1S R8E Q POB w SOUTHEAST CORNER WEST QUARTER CORNER Z SEC 20 T1S, RBE G&SRM 0 0 �R SEC 20 2 T1S, R8E G&SRM FOUND PINAL COUNTY PWD Q BRASS CAP IN HAND HOLE D FOUND GAO — _ I BRASS CAP FLUSH a RAY AVENUE L18 L17 SOUTHWEST CORNER SOUTH 1/4 CORNER SEC 20 T1S, R8E G&SRM SEC FOUND PINAL COUNTY HIGHWAY T1S, R R8E G&SRM DEPARTMEN' BRASS CAP IN HAND HOLE FOUND 2 1/2 GILD BRASS CAP d' -1 SUNRISE ENGINEERING NOT TO SCALE 204S SOUTH VINEYARD,SUM 101 MESA,ARIZONA 952l0 SHEET 3 OF 5 TEL 480.768.8600 mm-nmbf-main A-4 EXHIBIT "A" L9 L10 L12 ELLIOT AVENUE (ALIGNMENT) n r7 J J a a SEC 18 T1S R8E SEC 17 TIS R8E F 7t s Cl 11 WARNER ROAD W N (ALIGNMENT) C2 m L3 'n Z � M T Q O �, o r u 0 2 m p N O W z v SEC 19 T1 S R8E &Z D SEC 20 T1 S R8E D S O a RAY AVENUE L18 L17 g EXCEPTION O PARCEL "A", PHASE 5 COMM=RCIAL OLMD FEE 2024-061060, PCR %T IC4 rf L�F EXCEPTION 38862 RONNIE E. NOT TO SCALE 02 PARCEL "A", PHASE 3 COMMERCIAL DORS FEE 2024-061061, PCR L EXCEPTION 0 SUNRISE �R,zoN�,Us� 03 PARCEL 11, 12, 13 & 14 �kp+res3-3� 2� � ENGINEERING BLOSSOM ROCK PHASE 1 FEE 2022-084918, PCR 2045 SOUTH VINEYARD,SUITE 101 MESA,ARIZONA 05210 SHEET 4 OF 5 TE L 480.76 S.0600 t►WWJINo*'A wm A-5 EXHIBIT „A" CURVE TABLE CURVE DELTA RADIUS LENGTH CHORD BEARING CHORD DIST Cl 2255'06" 2500.00 1000.00' S7818'58"W 993.35' C2 30'39'58" 3000.00 1605,68' S8211'24"W 1586.58' LINE TABLE LINE # DIRECTION LENGTH LEGEND a L1 S89'46'31"W 500.00' SUBJECT BOUNDARY — PLSS SECTION LINE a L2 S66'51'25"W 540.51' PLSS SUB SECTION LINE L3 N82'28'36-W 583.29' a L4 N53'29'13"E 910.07' L5 N53 29'26"E 4200.33' ABBREVIATIONS 8 L6 N0'17'10"W 155.64' APN ASSESSOR PARCEL NUMBER E EAST L7 N013-51"W 2639.88' GLO GENERAL LAND OFFICE G&SRM GILA & SALT RIVER MERIDIAN L8 N89-45-04"E 2642.33' LS LAND SURVEYOR b N NORTH L9 N89'47'06"E 33.50' PCR PINAL COUNTY RECORDS PLSS PUBLIC LAND SURVEY SYSTEM L10 SO'16'32"E 830.28' POB POINT OF BEGINNING S L11 N53'27'53"E 1401.79' POC POINT OF COMMENCEMENT PWD PUBLIC WORKS DEPARTMENT L12 N89-47-06"E 1480,06' R RANGE S SOUTH L13 S0'17'17"E 2641.26' T TOWNSHIP SSEREO LAND SG� W WEST Q4SSIFICA�£�F�P L14 SO'17'38"E 2641.38' J6682 RONNIE E. DORS L15 S016'25"E 2640.89' L16 SO'15'30"E 2641.53' 4R p,usP 1 exp'res 3_�1,2 L17 S89'46'59'W 2643.37' L18 S89'48'18'W 2643.78' OSUNRISE L19 N077'01"W 2640.28' ENGINEERING 204S SOUTH VINEYARD,SUITE 101 MESA,ARIZONA SS210 SHEET 5 OF 5 TEL 480.760.6600 N'MN'.11pVllO-pIg.om -V SUPERSTITION VISTAS CFD NO 2. ROLL CALL DATE: f Z�J ` TIME: 30 d� 3 7 YES EXCUSED NO CHAIRPERSON WILSON VICE CHAIRPERSON SCHROEDER BOARDMEMBER CROSS BOARDMEMBER HECK BOARDMEMBERJOHNSON BOARDMEMBER NESSER BOARDMEMBER SOLLER District Manager Bryant Powell ✓ Assistant District Manager Matt Busby ✓ District Clerk Evie McKinney ✓, Deputy District Clerk Amy Greening District Attorney Joel Stern District Director Mike Loggins IV District Controller Connie Chow District Administrative Assistant Rita Vineyard ✓ District Billing Supervisor Stacey Ramirez District Treasurer Angelie Hawley Utility Director Ted-Vkgff- Mige, J,,,2 !W5 District Project Manager Charles Briggs 1/ District Comm/Mrktg.Director Kayla Fulmer Finance �p E G[/- 5 S:\Templates&Forms\City Council\Roll Call-SVCFD NO 1 and 2-Attendance.doc SUPERSTION VISTAS CFD NO 2. VOTE - ROLL CALL ITEM # �s l 1 MEETING OF MOTION BY: SECONDED BY: NOTES: EA15 YES NO ABSTAINED BOARD MEMBERS: BOARDMEMBER NESSER BOARDMEMBER JOHNSON e / BOARDMEMBER CROSS l� BOARDMEMBER HECK V/ BOARDMEMBER SOLLER VICE CHAIRPERSON SCHROEDER CHAIRPERSON WILSON TOTAL lJl l UNANIMOUS IN FAVOR OPPOSED ABSTAINED TOTAL Vote sheet 2 s:\templates&forms\city council\vote call-svcfd no 2.docx 1 SUPERSTION VISTAS CFD NO 2. VOTE - ROLL CALL ITEM # d` MEETING OF MOTION BY: SECONDED BY: YES NO ABSTAINED BOARD MEMBERS: / BOARDMEMBER CROSS V BOARDMEMBER NESSER BOARDMEMBER SOLLER / BOARDMEMBER JOHNSON 1/ VICE CHAIRPERSON SCHROEDER BOARDMEMBER HECK CHAIRPERSON WILSON TOTAL UNANIMOUS IN FAVOR OPPOSED ABSTAINED TOTAL Vote sheet 3 s:\templates&forms\city council\vote call -svcfd no 2.docx p.4AC�E✓ CITY OF APACHE JUNCTION SUPERSTITION VISTAS qR+ZO�:,P COMMUNITY FACILITIES DISTRICT NO. 2 Tuesday, April 21, 2026 A. CALL TO ORDER I would like to call the Superstition Vistas Community Facilities District No. 2 Special Meeting of April 21, 2026, to order and ask everyone to put their cell phones on silent. B. ROLL CALL C. AGENDA ITEMS 1. Consideration of approval of the minutes of the special meeting of February 17, 2026. Do I have a motion? wait for the motion and the 2nd. Roll Call 2. Presentation, discussion and consideration of Resolution No. SVCFD2 2026-005. Call on Zach Any discussion among the board? Board can discuss. Do I have a motion? Wait for the motion and second. Roll Call D. DISTRICT MANAGER REPORT— (none) E. DISTRICT DIRECTOR REPORT- (none) F. DISTRICT TREASURER REPORT— (none) G. ADJOURNMENT Meeting Adjourned. 04.21.2026 SVCFD2 Item No. 1 —Approval of Minutes move that the minutes of the February 17, 2026, special meeting be: (APPROVED) or (DENIED). Item No. 2 1 move that Resolution No. SVCFD2 2026-005, a resolution of the district board of Superstition Vistas Community Facilities District No. 2, approving the Third Amendment to the Amended and Restated District Development, Financing Participation, Waiver and Intergovernmental Agreement related to the acquisition of infrastructure, tax rates and assessments, and approving and authorizing all actions in connection with such substitution be((APPROVED) or (DENIED).