Aldersgate, LLC

1. Aldersgate, LLC

2. Vista Urbana Location Vista Urbana is located in the Riverpark master planned community. Across the freeway from the Esplanade shopping center.

3. Vista Urbana Location

4. Vista Urbana Site Vista Urbana will contain 13 buildings comprised of 12 homes for a total of 156 units of affordable housing. 69 homes will be considered low income units 87 homes will be low to moderate income units The site will contain: Plenty of owner and guest parking Lush landscaping Neighborhood pocket park

5. Vista Urbana Site Map

6. Vista Urbana Exterior Elevations The homes will feature Spanish and Mediterranean inspired architecture including: Tile roofs Arched windows Rod iron terraces Private patios and balconies.

7. Vista Urbana Exterior Elevations

8. Floorplans

9. Vista Urbana Floor Plans There are five Vista Urbana floor plans. 1) 2 Bed/2 Bath at 998 sq. ft. = 26 2) 2 Bed/2 Bath at 1,025 sq. ft. = 52 3) 3 Bed/2 Bath at 1,257 sq. ft. = 26 4) 3 Bed/2 Bath at 1,321 sq. ft. = 26 5) 3 Bed/2.5 Bath at 1,471 sq. ft. = 26 Total homes: = 156 Please note, that these are square footage approximations.

10. Vista Urbana Floor Plans Each floor plan will feature: 9’ high ceilings Walls wired for internet and flat screen TV’s. Granite countertops Carpet and porcelain tile Name brand appliances Private patios and balconies

11. Plan 1 Floor Plan • 998 Square Feet • 2 Bedroom • 2 Bathroom • 9’ High Ceilings • Granite Counter Tops • Name Brand Appliances • Porcelain Tile and Carpet

12. Plan 1 Model Color Scheme

13. Plan 2 Floor Plan • 1,025 Square Feet • 2 Bedroom • 2 Bathroom • 9’ High Ceilings • Granite Counter Tops • Name Brand Appliances • Porcelain Tile and Carpet

14. Plan 2 Model Color Scheme

15. Plan 3 Floor Plan • 1,257 Square Feet • 3 Bedroom • 2 Bathroom • 9’ High Ceilings • Granite Counter Tops • Name Brand Appliances • Porcelain Tile and Carpet

16. Plan 3 Model Color Scheme

17. Plan 4 Floor Plan • 1,321 Square Feet • 3 Bedroom • 2 Bathroom • 9’ High Ceilings • Granite Counter Tops • Name Brand Appliances • Porcelain Tile and Carpet

18. Plan 4 Model Color Scheme

19. Plan 5 Floor Plan • 1,471 Square Feet • 3 Bedroom • 2.5 Bathroom • 9’ High Ceilings • Granite Counter Tops • Name Brand Appliances • Porcelain Tile and Carpet

20. Plan 5 Model Color Scheme

21. Financial Information

22. Vista Urbana General Eligibility For the Vista Urbana development in general, you must meet Ventura County median income guidelines. That’s it! However, for down payment assistance, you must meet City and State requirements.

23. Ventura County Median Income Guidelines To qualify for Vista Urbana, your gross annual income should not exceed the income limits below. Family Size Low Income Moderate Income 1 Person $49,850 $74,000 2 Persons $57,000 $84,550 3 Persons $64,100 $95,150 4 Persons $71,200 $105,700 5 Persons $76,900 $114,150 6 Persons $82,600 $122,600 7 Persons $88,300 $131,050 8 Persons $94,000 $139,500

24. Down Payment Assistance There are two types of down payment assistance. 1) The City of Oxnard. 2) State of California. Each has its own eligibility criteria.

25. Down Payment Assistance Programs 1) City of Oxnard down payment assistance. Housing Department BEGIN Program Citywide Loan Program HERO Program 2) State down payment and closing costs assistance. California Housing Finance Agency California Homebuyer’s Down Payment Assistance Program (CHDAP) School Facility Fee (SFF)

26. City Down Payment Assistance Eligibility To be eligible for City of Oxnard down payment assistance you must be meet the following criteria: Must be a first time homebuyer. Could not have owned a home in the last three years. A mobile home is not considered a house. At the time you apply, you must be an Oxnard resident.

27. All household members must be legal residents of the U.S. Once approved for Vista Urbana, you must attend a first-time homebuyer course with SurePath Financial. At the time you apply you must not exceed the Ventura County median income guidelines. City Down Payment Assistance Eligibility

28. State Down Payment Assistance Eligibility To be eleigible for State down payment assistance you must be considered a first time homebuyer. Not owned a home in the last three years. A mobile home is not considered a home. You must intend to occupy the home for at least five years.

29. State Down Payment Assistance Eligibility You gross monthly income must not exceed the income limits below. One Person $70,950 Two Persons $81,050 Three Persons $91,200 Four Persons $101,300 Five Persons $109,400 Six Persons $117,500 Seven Persons $125,600 Eight Persons $133,700

30. Your Down Payment Two working adults Approximately, $5,000 of which $2,500 may be a gift. One working adult Approximately, $2,500 of which $1,250 may be a gift.

31. Down Payment Assistance Review BEGIN Grant CalHFA CHDAP CalHFA SFF Citywide Loan Program HERO Conditional Grant Property Tax Reduction Ventura County MCC Program

32. BEGIN Down Payment Assistance BEGIN is a deferred loan. No payments of interest or principal are due until the your home loan is paid or at the end of 30 years. BEGIN has a 3% simple interest rate.

33. CalHFA CHDAP CHDAP stands for the California Homebuyer’s Down Payment Assistance Program. The CHDAP is a deferred-payment loan for 3% of the purchase price for down payment and closing costs. No payments of interest or principal are due until the your home loan is paid or at the end of 30 years. CHDAP’s deferred interest rate is 3.25% simple interest per year.

34. CalHFA SFF SFF means School Facility Fee. The SFF program provides you with a conditional grant/rebate of the school fees paid by the developer. If you occupy the home for five years, the full amount of the conditional grant is forgiven.

35. City of Oxnard Citywide Loan Program The City will provide a forgivable loan for down payment and closing costs. The loan is a capped, 3 to 1 match of your down payment. If you contribute $1,000, the city will contribute $3,000. The loan is forgiven after 5 years if loan is $15,000 or less and 10 years if the loan is over $15,000.

36. City of Oxnard Citywide Loan Program If you sell your home before the 5 or 10 years you need to pay back the principal plus deferred simple interest at 3% per year. Applications will be processed on a first come, first qualified basis. Subsidy and amount will be based on availability and need for qualified borrowers.

37. HERO Grant HERO is a down payment assistance program. HERO is forgiven after ten years of living the property. To qualify, you must meet the same criteria as the Oxnard Citywide Loan Program.

38. Property Tax Reduction Vista Urbana Property taxes will be based on 1% of your loan amount, not on 2.05% of your sales price. For example, based on a sales price of $196,700 the savings is listed below: Regular Riverpark Tax Vista Urbana Tax $336.03* $180.17** That’s a saving of $155.86 per month. *Assumes 2.05% in Riverpark Mello-Roos property taxes. **Assumes 1% of loan amount plus 38.35 CFDF

39. Ventura County MCC Program The Mortgage Credit Certificate (MCC) Program is a federal tax break that increases your monthly take home pay. It helps you reduce the federal taxes that would be deducted from your paycheck. This leaves you extra money to help you make your mortgage payment. For example, on a $196,700 home at a 3.875% rate, the extra monthly income would be $106.76.

40. Pricing

41. Vista Urbana Pricing Plan Rooms/Bath Sq. Feet Price Plan 1: 2/2 998 $141,500 Plan 1: 2/2 998 $191,999 Plan 1: 2/2 998 $193,999 Plan 2: 2/2 1,025 $196,700 Plan 3: 3/2 1,257 $230,999 Plan 4: 3/2 1,321 $233,99 9 Plan 5: 3/2.5 1,471 $235,999 Prices and payments are subject to change due to subsidy and market conditions.

42. FHA and Conventional Loans Depending on the working adults, all you need for an FHA loan is a down payment of approximately $2,500 to $5,000 of which half of that can be a gift. However, if you are able to put down 5% of the sales price you may be eligible for a conventional loan. A conventional loan significantly lowers your monthly home payment. Note, that the 5% down payment must be your own money. No gift funds are allowed.

43. FHA vs. Conventional Payments *Payments are based on 30 year fixed, FHA loans at 3.875% and include principal, interest, taxes, CFDF and HOA. ***Payments are based on 30 year fixed, Conventional loan at 3.875% and include principal, interest, taxes, CFDF and HOA.

44. Resale Restriction Vista Urbana homes will be restricted for 45 years. If you wish to sell your home before this term, the City of Oxnard will set the re-sale price of the home. You cannot refinance the home without notification and approval of the City of Oxnard.

45. Resale Restriction Sale Example Assumption for a sale after ten years. Original Sales Price: $196,700 Down Payment: -$5,000 CHDAP Closing Costs: -$6,270 Citywide Loan: -$1,923 HERO Loan: -$3,205 CalHFA SFF: -$4,060 BEGIN: -$18,846 UFMIP +$1,573 Loan Amount: $165,239

46. City estimated sales price in 10 yrs: $230,139* Loan balance after 10 years: -$129,628 Gross Equity: $100,511 *Based on an estimate of CPI index movement for a total estimated increase in value of 17%. Resale Restriction Sale Example

47. Estimate of deferred loans due after ten years. Citywide Loan: $1,923 0 HERO Loan: $3,205 0 CalHFA SFF: $4,060 0 CHDAP: $6,270 $6,270 BEGIN: $18,846 $18,846 Total deferred loans due: $25,116 x 10 Yrs @ 3% simple interest: $32,651 Resale Restriction Sale Example

48. City estimated sales price in 10 years: $230,139 Loan balance after 10 years: -$129,628 Gross equity: $100,511 Deferred loans and interest due: - $32,651 Gross estimated equity after 10 years: $67,860 Resale Restriction Sale Example

49. How Vista Urbana Benefits You! Mortgage payment is less or equal to what you would pay in rent. Control over your own home. Can’t be asked to vacate the apartment or rented house. Yearly tax deduction on interest you pay on the loan. Yearly tax deduction on the property taxes. New home, built for you with modern finishes. Gain equity!

50. How Vista Urbana Benefits You! In this example, you are literally being paid or building $565.50 per month, in equity, just to live at Vista Urbana! If we take the net equity example of $67,860/10 years = $6,786 per year! $6,786/12 months = $565.50!