3309 San Rey Lane, Bonsall, CA 92003

Rancho Viejo - Premier Development Opportunity Cost-Efficient, and Market-Aligned Key Investment Highlights Approvals Secured - Full County scoping letter and Fire District agreements in place Phased Development - Reduced upfront costs with optimized two-phase buildout $10M+ in Cost Savings - Modular construction, grading optimizations, and road de

sign efficiencies Strong Rental Demand - By-right ADUs/J-ADUs in a high-growth Southern California corridor Project Advantages 1. Flexible Land Use Designations - Active Use Open Space: Permits clubhouses, trails, recreation, and water features - Passive (Restorative) Use: Allows grading/development with approved landscape restoration-resolving prior ownership's roadblocks 2.

Accelerated & Deferred Costs - Emergency Road Approval: Secondary access downgraded from primary road standards, cutting $2M+ in initial costs - Phase 2 Deferrals: Fire Dept. approved delaying full emergency road buildout, accelerating Phase 1 (29 lots) 3.

Optimized Site Engineering - Grading Plan: Reduced import volumes while expanding usable yard space via elevated home pads - Modular Construction: Approved for 30% faster vertical build, with modern-rustic designs and covered parking integration 4. Lower Infrastructure Costs - Santa Luz-Inspired Roads: Drought-tolerant, fire-resistant landscaping with reduced sidewalk/street expenses - Traffic Study vs.

Full Road Build: $500K+ savings vs. original secondary access requirements 5. High-Demand Rental Model - ADU/J-ADU Inclusion: Projects premium rents using tri-county (Orange/San Diego/Riverside) comps - Proven Precedent: Maintenance/design benchmarks from award-winning Santa Luz/Cielo communities 6.

Risk-Mitigated Execution - Geotech Complete: Keller ground-improvement plan locked - Top-Tier Team: Design/engineering leads with regional success track records --- Why Invest Now? Approvals in Hand - No entitlement delays Cost Certainty - $6M+ savings already engineered into plan SoCal Housing Shortfall - ADU-friendly project meets urgent rental d

emand Exit Flexibility - Build-to-sell or hold as cash-flowing rental portfolio Attachments: Pro forma, grading/road plans, modular design renderings **Next Steps:** Let's discuss capital structure and pre-sales strategy-this asset won't last.