Santa PSanta PSanta PSanta PSanta PaulaaulaaulaaulaaulaS a n t a P a u l a , C a l i f o r n i a

on the Gron the Gron the Gron the Gron the Greeneeneeneeneen

A P R O J E C T S P O N S O R E D B Y F I R S T C H R I S T I A N C H U R C H O F S A N T A P A U L A

N o n - p r o f i t R e t i r e m e n t C o m m u n i t yS a n t a P a u l a , C a l i f o r n i a

Site Map & AccomodationsParking plus visitor parkingHandicap accomodationsLoading and unloading areaCovered carports

Individual patios or balconiesPatio courtyardWendell Dowling mural in entry hall

Santa PSanta PSanta PSanta PSanta Paulaaulaaulaaulaaulaon the Gron the Gron the Gron the Gron the GreeneeneeneeneenN o n - p r o f i t R e t i r e m e n t C o m m u n i t y

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Good Neighbors!Santa Paula on the Green is planned specifically for those aged 62 yearsand over. It will be ideal for those seeking active and independent retire-ment living within a community of good neighbors who enjoy similarlifestyles and interests.

Beautiful Location in Santa Paula!Santa Paula on the Green will be developed on 2.2 acres of vacant prop-erty in the beautiful community of Santa Paula, California. The project willinclude direct access to walking paths and gardens. The location is conve-niently located close to a variety of amenities and services including shop-ping, restaurants, medical clinics, banks and churches.

Experienced Developer!Santa Paula on the Green will be developed by Life Lease Corporation ofCalifornia.The goal of Life Lease Corporation of California is to provide quality, afford-able and secure housing designed to meet the needs of older adults todayand in the future.

Quality Construction!Santa Paula on the Green is architecturally designed to produce a qualityliving environment capable of responding to the special and changing needsof older adults. Level access to balconies, three-foot wide doors and lever-style faucets and door handles are all features designed to maximize space,creating the same comfortable atmosphere found in the traditional home.

Life Lease Housing!Santa Paula on the Green is being developed by Life Lease Corporation ofCalifornia using Life Lease financing mechanism.

Don’t Wait!Units in Santa Paula on the Green are being offered on a first-come-first-served basis. Deposits are currently being accepted (see application form).The earlier you submit your deposit, the better chance you will have ofreserving your preferred unit type and location in the building.

Non-profitFirst Christian Church of Santa Paula, California, through a newly formednon-profit organization, will own and operate this new senior facility.

What is Life-Lease Housing?The Life-Lease is a projectfinancing mechanism anda unique form of tenure. Itprovides the means fornon-profit organizations tosponsor the developmentand operation of newhousing projects forseniors. The Life-Lease is alegal agreement thatfacilitates the investment ofequity by future residents ofa project. In return for thisinvestment, residentsreceive “Life-Time” leasesfor their units. Theentrance fee amountrequired from eachresident is approximately50% of the cost of buildingone of the units (includingproportionate share ofcommon areas) in theproject. The sponsoringnon-profit organization willuse the equity investmentfrom future residents,combined with mortgagefinancing, to build andoperate the project.

Santa PSanta PSanta PSanta PSanta Paulaaulaaulaaulaaula2

on the Gron the Gron the Gron the Gron the GreeneeneeneeneenN o n - p r o f i t R e t i r e m e n t C o m m u n i t y

Non-profit Operation!Santa Paula on the Green will be oper-ated on a non-profit basis. The primarygoal of the faith-based, non-profit spon-sor organization is to build and operatethe project in the most efficient andeffective manner possible. Monthlycharges will reflect only the actual costsof operating the project. The project willconvene an annual meeting to presentresidents with financial details concern-ing the previous year’s actual expendi-tures and the following year’s budget.

Repurchase ofEntrance Fees!

In the event that any time or times dur-ing the period of the term, the tenantdesires to sell his or her leasehold inter-est, the tenant shall first give writtennotice (herein called the “Notice toSell”) to the landlord. After receivingsuch “Notice to Sell”, the landlord shallhave the right to purchase the leaseholdinterest by indicating in writing to thetenant within thirty (30) days of receiptof “Notice to Sell”, whether or not thelandlord will purchase the tenant’sleasehold interest at the selling price.The selling price shall be the amountthat the tenant paid as an entrance feeand shall not include any amounts char-acterized as rent (monthly fee) in thelease. After expiration of the said thirty(30) days, if the landlord has not indi-cated in writing its desire to purchasethe leasehold interest, it shall bedeemed to be declined. The tenant shallthen be free to sell the leasehold inter-est to a person or persons qualifiedunder this lease.

Upon death, or physical or mental in-capacitation of the tenant, this leaseshall not automatically terminate.Instead, this lease (including the en-trance fee paid by the tenant) shallform a part of the tenant’s estate. Thepersonal representative of the tenantshall provide to the landlord withinthirty (30) days of the event a “Noticeto Sell” under the terms and conditionsset out in Life Lease Agreement. If thelandlord fails to exercise its right topurchase the leasehold interest, the per-sonal representative of the tenant canthen proceed to sell the specified lease-hold interest to a person or personsqualified under this lease.If the Non-Profit Sponsor does not ex-ercise the Option to Purchase, the ten-ant will be permitted to sell his/her Life-Lease as long as the new tenant is over62 years of age and meets the approvalof the non-profit sponsor organization.

Extended ServicesBy establishing procedures and work-ing together, residents are able to pro-vide services for themselves that other-wise would be impossible to obtain.Examples include sports clubs, artsand crafts clubs, glee clubs, excursions,social events and health/wellnessactivities.

Advantagesof SantaPaula onthe Green’sLife-Lease

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Shared MaintenanceResponsibilities

Residents have limited direct mainte-nance responsibilities. The non-profitsponsor is responsible for major repairs,insurance, replacement of worn outequipment, and upkeep of commongrounds and facilities.

Security of Investment!Entrance Fees paid by future residentsprior to construction start will bedeposited into escrow. The escrow willnot release these funds until the projecthas met certain conditions, such ashaving the necessary building permitsand enough financing to complete con-struction. A bond in the amount of theentrance fee will also be provided tofurther protect the resident during con-struction.

California Departmentof Real Estate

The subdivider has filed an Applica-tion for a Final Subdivision PublicReport with the California Departmentof Real Estate and is working with theDepartment of Real Estate to satisfy allof the conditions necessary for theissuance of a Final Public Report. TheDepartment of Real Estate has notcompleted a substantive review of thisproposed project. The subdivider hasauthorization from the Department ofReal Estate to advertise and take res-ervations. The reservation form is nota contract and you may cancel thereservation at any time. When theFinal Public Report is issued, you willbe given an opportunity to review theReport before signing a binding con-tract. The Final Report will tell youvital information about the property.It is important that you read andconsider all this information beforedeciding to purchase.

Don’t Wait!Select your unit now, while they are still available.

Call (805) 524-2355 to set up an appointment to view your new home.

4CLASSICUnit “A”

744 Sq.Ft.(plus balcony)Two Bedroom/One Bathroom(21 Units Available)(actual dimensions may vary)

LEGACYUnit “B”

5974 Sq.Ft.(plus balcony)Two Bedroom/One Bathroom(11 Units Available)(actual dimensions may vary)

6HERITAGEUnit “C”

1,041 Sq.Ft.(plus balcony)Two Bedroom/Two Bathroom(9 Units Available)(actual dimensions may vary)

7PREMIERUnit “D”

1,142 Sq.Ft.(plus balcony)Two Bedroom/Two Bathroom(12 Units Available)(actual dimensions may vary)

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Second Floor

First Floor

Third Floor

Don’t Wait!Select your unit now, while they are still available.

Call (805) 524-2355 to set up an appointment to view your new home.

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UnitUnitUnitUnitUnit FloorFloorFloorFloorFloor NumberNumberNumberNumberNumber SqrSqrSqrSqrSqr..... EntrEntrEntrEntrEntranceanceanceanceance MonthlMonthlMonthlMonthlMonthlyyyyyTTTTTypeypeypeypeype NumberNumberNumberNumberNumber AAAAAvvvvvail.ail.ail.ail.ail. FFFFFeeteeteeteeteet FFFFFeeeeeeeeee FFFFFeeeeeeeeee

“A” 1bed 1 7 744 $65,000 $898“A” 1bed 2 7 744 $66,500 $898“A” 1bed 3 7 744 $68,250 $898

“B” 2bed/1bath 1 3 974 $85,500 $1,098“B” 2bed/1bath 2 4 974 $87,000 $1,098“B” 2bed/1bath 3 4 974 $88,500 $1,098

“C” 2bed/2bath 1 3 1,041 $91,500 $1,198“C” 2bed/2bath 2 3 1,041 $93,000 $1,198“C” 2bed/2bath 3 3 1,041 $94,500 $1,198

“D” 2bed/2bath 1 4 1,142 $99,125 $1,298“D” 2bed/2bath 2 4 1,142 $100,625 $1,298“D” 2bed/2bath 3 4 1,142 $102,125 $1,298

Entrance Fees and Occupancy Costs

NONONONONOTE:TE:TE:TE:TE: The monthly fee reflects the anticipated costs to operate the project on a non-profit basis in year one. Themonthly fee will be adjusted in future years to reflect actual project operating costs.

The Entrance Fee will be required prior to construction start on a date indicated in the Offer to LeaseAgreement.

Monthly FeeIncludes:

One covered carportparking stall

Real estate propertytaxes

Building all risk andliability insurance

Maintenance and janito-rial services

Professional propertymanagement services

Grounds maintenance

Operating reserve fund(required by lender)

Replacement reservefund (for periodic majorcapital improvements)

Common area, naturalgas and electric utilities

Water, sewer and trashcollection

Monthly Feedoes not Include:

Telephone

TV Cable

Contents insurance

Individually meteredelectric & gas utility

Optional additionalexterior parking ($30/month/stall)

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Cost of Home Owbership(home or condominium)

Example Your Expenses1. Home Equity (estimated resale value of your home) $275,000 ____________

Monthly Costs of Ownership:

2. Heating $60 ____________

3. Lights and Power $50 ____________

4. Water, Sewer, Trash $70 ____________

5. Property Taxes $100 ____________

6. Insurance $50 ____________

7. Yard Maintenance $80 ____________

8. Regular repairs and maintenance $40 ____________(e.g. painting, repairs, appliances, etc.)

9. Periodic major improvements and replacements $45 ____________(e.g. replacement of roof, furnace, fridge, carpet, etc.)

10.Loss of interest from Home Equity (assume 4%) $917 ____________(Line 1 x 4% divided by 12)

11.Total (monthly cost of existing home (add lines 2-10) $1,412 ____________

Cost of Santa Paula on the Green12.Monthly occupancy charge (from price list) $1,098 ____________

13.Heating (gas) $40 ____________

14.Electricity $30 ____________

15.Contents insurance $20 ____________

16.Loss of interest from Entrance Fee purchase $290 ____________(Assume 4%, $87,000 x 4% divided by 12)

17.Sub-total (add lines 12 - 16) $1,478 ____________

18.SUBTRACT Interest from remaining home equity ($627) ( ___________ )(Reinvest remaining equity from sale of home to gaininterest 275,000 - 87,000 = 188,000 x 4%)

19.Total cost of Life-Lease $851 ____________(Subtract line 18 from 17)

Life-Lease vs.HomeOwnershipTake a moment tounderstand andcompare the costs ofliving in a non-profitlife-lease versus homeor condominiumownership. We’re sureyou’ll agree that thecosts of owning yourown home are similarto the costs of living ina non-profit life-leasefacility. Use the“Example” column asa guide and fill in the“Your Expenses”column withinformation taken fromyour own records.

Compare Costs

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ExteriorAttractive low maintenance coloredstucco exteriorLarge private balconiesAutomobile drop-off/pick-up areawith canopy

ParkingCovered carport parking stalls for resi-dents (one stall per unit)Ample additional exterior resident andvisitor parking

Common AreasFurnished waiting lounge at main en-tranceMulti-purpose ‘Community Room’ withgas fireplace and fully equipped kitchen

Mobility DesignEntire building accessible for mobilityimpairedLiving units include 3 ft. doors to allbedrooms and at least one bathroom.One bathroom in living units has full5 ft. turning radius for wheelchairQuiet hydraulic passenger elevator

SecurityFront door entry phone systemFire protection sprinkler systemSmoke and heat detectorsSecure dead-bolt locks on all entry doors

Construction andSound-Proofing

Solid 2 ft. x 6 ft. exterior wood frameconstruction with truss joist flooringsystem including light weight concreteDouble-wall party walls with soundattenuation barrier between suitesDouble-pane, energy-efficient windows

CorridorsSolid hand-rail on one side

Quality carpeting with accent borderRecessed suite entry areas with‘purse/key’ shelf

Mechanical andElectrical

Each suite equipped with gas-firedfurnace and air conditioning unitproviding each suite with individu-ally controlled temperatureCentral air conditioning and heatingfor all common areasCentral water supply with continu-ous circulation for hot waterTelephone and cable TV outlets inliving rooms and all bedroomsBalcony light and electrical outlet

Kitchens30 in. self-cleaning electric range18 cubic foot frost-free refrigeratorBuilt-in dishwasherGarbage disposal unitDouble basin stainless steel sink withsingle lever faucetOak cabinetry complete with micro-waveCeramic tile

BathroomsAll white fixtures for easy color coor-dinationRecessed oak cabinetry, full widthmirror, medicine cabinet and singlelever faucetsExhaust fan in all bathroomsCeramic tile

Floor Covering in Suites100% Nylon FHA-approved luxurycarpetingQuality vinyl sheeting in kitchens,bathrooms, and in-suite closet areas

LaundryWasher and dryer in each unit

Guest SuiteA hotel-style suite will be available,and can be rented by visiting familyor friends

Buildingand SuiteFeatures

13Application ProcessStep 1 Expression of Interest and

Reserve a UnitTo demonstrate your interest in becom-ing a resident of Santa Paula on theGreen, please select your preferredunit, complete the following Applica-tion Form and submit a deposit of $500.Once enough expressions of interesthave been received, and the boarddecides to proceed, you will be pro-vided with a copy of the Life-LeasePurchase Agreement for review.

Step 2 Sign Agreement andSecure a Unit

Arrange an appointment with usto discuss and sign the Life-LeasePurchase Agreement and secure aunit within the building. Upon sign-ing the agreement, a seconddeposit of $3,000 will be required.This second deposit will be com-bined with your initial $500 depositand will be held in trust by an es-crow company.

Step 3 Individualize Your SuiteMake an appointment with our projectofficer to choose a color scheme andselect from a list of options.

Step 4 Pay Remaining Portionof Entrance Fee

The remaining portion of the EntranceFee will be due prior to constructionstart on the date indicated in the Life-Lease Agreement.

Santa Paula on the GreenApplication FormName: ______________________________________________________________________________________

Address: _____________________________________________________________________________________

Zip Code: _______________________ Telephone No: _______________________________________________

What is your preference for units?

1st Choice - Indicate unit number and type: ______________________ 2nd Choice - Indicate unit number and type: _______________________

Comments/Suggestions:________________________________________________________________________

____________________________________________________________________________________________

____________________________________________________________________________________________

Note:Note:Note:Note:Note: Full shar Full shar Full shar Full shar Full share fe fe fe fe fee is not ree is not ree is not ree is not ree is not requirequirequirequirequired aed aed aed aed at this timet this timet this timet this timet this time.....

Please return completed application form, including a deposit of $500 to:

Santa Paula on the Green320 E. Main StreetSanta Paula, CA 93060

Please make check payable to Old Republic Escrow. Call 805.525.2355 if you require assistance to complete thisform. Submission of this form does not constitute an obligation on the part of Santa Paula on the Green orLife Lease Corporation of California, LLC, to provide you with a suite in the project.

Signature: ____________________________________ Date: _________________________________________

All suites are offered on a “first-come, first-served” basis. Should, for whatever reason, the project not proceed to construction, your deposit(s) willbe refunded to you.

Until you sign the Life-Lease Purchase Agreement, your $500 deposit is fully refundable upon request!

3 2 0 E M a i n S t r e e t , S a n t a P a u l a , C a l i f o r n i a 9 3 0 6 0

Sales Office:(805) 525-2355 fax (805) 525-2304

First Christian ChurchSponsor

Life Lease Corporationof California LLCDeveloper

Pat McCarthy Construction, Inc.General Contractor

Brady Roark ArchitectArchitect

Bo and Margaret Burleson-TurnerProject Officers

Gary and Nancy NasalroadPublic Relations(805) 525-4731