MARYLAND RIDGE ESTATES_ASSURANCE AGRMT.PDF

ASSURANCE AGREEMENT 
This Agreement is made on 	
, 2020, by and between MARICOPA 
COUNTY, a political subdivision of the State of Arizona, (hereinafter "County"); And El Mirage 
20, LLC, an Arizona Limited Liability Company, with an address of 23623 N. Scottsdale Road, 
Suite D3137, Scottsdale, AZ 85255, (hereinafter "EL MIRAGE"). The term "EL MIRAGE" as 
used herein shall include EL MIRAGE and any and all successors in title to the Property. 
Whereas, EL MIRAGE is the owner of certain real property full described in Exhibit A 
attached hereto and made a part hereto (herein referred to as "Property"); and 
Whereas, EL MIRAGE has applied to the County pursuant to A.R.S. §11-821 et seq. to 
subdivide the Property for single family residential development; and 
Whereas, A.R.S. §11-821(C) provides: "The regulations shall require the posting of 
performance bonds, assurances or such other security as may be appropriate and necessary to 
ensure the installation of required street, sewer, electric and water utilities, drainage, flood control 
and improvements meeting established minimum standards of design and construction;" and 
Whereas, A.R.S. §11-822(A) provides: "No plat of a subdivision of land within the area of 
jurisdiction of the County shall be accepted for recording or recorded until it has been approved 
by the Board. The approval of the Board shall be endorsed in writing on the plat and shall also 
include specific identification and approval of the assurances;" and 
Whereas, EL MIRAGE has requested that, to satisfy the statutory requirement for 
providing an assurance to ensure the installation of required improvements, that the County enter 
into an agreement with EL MIRAGE that no building permits for the construction of homes for 
sale to third parties shall be issued in connection with the Property unless and until such time as 
all required improvements that meet the minimum standards of design and construction established 
by the County pursuant to plans and specifications that have been approved by the County (i) have 
been installed at no cost or expense to the County and (ii) have been inspected by the County, 
which has been satisfied with such installation pursuant to guidelines adopted by the County; and 
Whereas, any such agreement entered into between the parties shall be deemed to be a 
"Building Permit Hold;" and 
Whereas, the County is agreeable to entering into such a Building Permit Hold to serve as 
the statutorily required assurance of performance provided all of the terms of such Agreement are 
satisfied. 
NOW THEREFORE, in consideration of the mutual premises contained herein and other 
good and valuable consideration, the parties agree as follows: 
1. The above recitals are incorporated herein as if fully reproduced at length. 
2. No building permit shall be issued to allow construction on or in connection with the Property 
except: 
a. Building permits for the installation and completion of all required infrastructure for 
the project pursuant to plans approved by any and all applicable agencies.

b. Not more than eight (8) building permits issued by the County in accordance with 
applicable building codes for model homes, each home to be located on specific lots 
approved by the County and be part of a "model home complex". No issued building 
permit shall include the right to occupy any model home for any purpose other than to 
demonstrate the style of home available to purchasers within the project; provided that 
the garage and kitchen areas of one such home per model complex, as designated by 
EL MIRAGE, may be used for the purpose of conducting sales of homes to prospective 
third party purchasers. 
3. 
No building permit of any kind shall be issued unless and until this Agreement has been 
recorded in the office of the Maricopa County Recorder. Upon completion of the infrastructure 
which this Agreement assures or other proper termination of this Agreement, the County shall 
execute an appropriate document presented to it by EL MIRAGE for recording to provide notice 
that this Agreement has terminated. 
4. 
In the event the County Board of Supervisors shall not approve the subdivision plat for the 
Property, this Agreement shall be deemed to be terminated properly and of no force or effect. 
5. 
EL MIRAGE shall, at all times during the pendency of this Agreement, maintain a valid, 
active building permit for construction of any and all required subdivision infrastructure which has 
not been completed and approved by the appropriate agency. 
6. 
Should EL MIRAGE breach this Agreement, any and all building permits that have been 
issued for the Property shall immediately cease to be valid unless and until a financial assurance, 
in form and amount satisfactory to the County, has been provided to and accepted by the County. 
7. 
This Agreement shall not be deemed to be satisfied unless and until all building permits 
issued for the Property have been completed and all required warranty assurances have been 
provided. 
8. 
This Agreement may be terminated by EL MIRAGE providing substituted assurances as 
required by ordinances and regulations of Maricopa County as a substitute for this Agreement. 
Any financial assurance shall be based upon one hundred twenty percent (120%) of a County 
approved cost estimate, as prepared by a civil engineer licensed in the State of Arizona, for the 
remaining improvements at the time of termination. Said estimate shall be based on current unit 
costs for the various remaining work items. 
9. 
This Building Permit Hold does not and shall not be interpreted to include required 
assurances for any and all improvements required by Maricopa County Department of 
Transportation that are located along the perimeter or outside the boundaries of the Property. Said 
improvements shall be assured by proper financial assurance(s) pursuant to guidelines provided 
by Maricopa County Department of Transportation. 
10. 
Nothing contained in this Agreement shall be construed as obviating the necessity of EL 
MIRAGE providing financial warranty assurances for any improvements pursuant to applicable 
County ordinances, resolutions or rules. 
11. 
This Agreement may be cancelled by the County pursuant to the terms of A.R.S. § 38-511. 
-2-

12. 
All notices, and communications to be given under this Agreement shall be in writing and 
shall be deemed to have been duly given if delivered personally (in which case the date of delivery 
would the actual date), if mailed first-class, postage prepaid, or certified mail (in which case the 
date of delivery would be three (3) days from the date of mailing), or if sent by telegram, telex, 
facsimile, telecommunication or other similar form of communication (in which case the date of 
delivery would be the date of receipt confirmation), as follows, or as otherwise provided by notice 
to the other party: 
If to County:  
Maricopa County Planning and Development Department 
501 N. 44th Street 
Phoenix AZ 
Attention: Director 
If to EL MIRAGE: 
El Mirage 20, LLC 
23623 N. Scottsdale Road 
Suite D3137 
Scottsdale, AZ 85255 
Attn: Gary Lane 
13. 
This Agreement shall inure to the benefit of, be binding upon, and be enforceable by the 
parties to this Agreement and their respective successors and assigns. This Agreement shall run 
with and be an encumbrance upon the Property. 
14, 	
This Agreement, including all Exhibits, constitutes the entire agreement and understanding 
between the parties relating to the provision of assurances required by statute and supersedes all 
prior representations, communications and arrangements, whether oral, written or inferred, 
between the parties relating to that subject matter. This Agreement shall not be amended or 
modified except by a writing duly executed by EL MIRAGE and the County. The waiver of any 
breach of any term or condition of this Agreement shall not be deemed to constitute the waiver of 
any other breach of the same or any other term or condition. 
15. 
Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction 
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability 
without invalidating the remaining provisions of this Agreement, and any such prohibition or 
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in 
any other jurisdiction. 
16. 
This Agreement may be executed in any number of counterparts, each of which shall be 
deemed an original, but all of which together shall constitute one and the same instrument. 
17. 
EL MIRAGE shall provide to the County, satisfactory evidence that the person executing 
this Agreement for EL MIRAGE has been authorized to do so. 
Dated as of the day and year first above written. 
-3-

El Mirage:  
EL MIRAGE 20, LLC, 
an Arizona limited liability company 
By: 	
 
Name: 	
 
Title: 	
 
COUNTY: 
1VIARICOPA COUNTY BOARD OF 
SUPERVISORS 
By: 	
 
Name: 	
 
Title: 	
 
ATTEST: 
Date: 	
 
Date: 	
/ 
 
Page 4

EXHIBIT A 
(Legal Description of the El Mirage Property) 
[See attached] 
Page 5

LEGAL DESCRIPTION 
MARYLAND ESTATES 
EL MIRAGE & MARYLAND 
Job No. 18-322 	
April 15, 2019 
A portion of the north half of the northwest quarter of the southeast quarter 
of Section 11, Township 2 North, Range 1 West of the Gila and Salt River 
Meridian, Maricopa County, Arizona, described as follows: 
COMMENCING at a brass cap flush at the center quarter-corner of said 
Section 11, from which a brass cap in handhole at the east quarter-corner of 
said Section 11 bears South 89 degrees 10 minutes 20 seconds East, 
2604.27 feet; 
thence along the north line of said southeast quarter, South 89 degrees 10 
minutes 20 seconds East, 40.00 feet to the POINT OF BEGINNING; 
thence continuing along said north line, South 89 degrees 10 minutes 20 
seconds East, 1262.13 feet to a point on the east line of said northwest 
quarter of the southeast quarter of Section 11; 
thence along said east line, South 0 degrees 01 minutes 55 seconds East, 
658.44 feet to a point on the south line of said north half; 
thence along said south line, North 89 degrees 08 minutes 
25 seconds West, 1261.94 feet; 
thence North 0 degrees 02 minutes 59 seconds West, 
657.74 feet to the POINT OF BEGINNING. 
Contains 19.0640 acres, more or less. 
EPS Group, Inc. • 2045 S. Vineyard, Suite 101 • Mesa, AZ 85210 
Tel (480) 503-2250 • Fax (480) 503-2258 
S:\Projects\2018\18-322\Legal Suryey\Legals\18-322 Maryland Estates 041519.docx

SOUTH LINE OF THE NORTH HALF 
`—OF THE NORTHWEST QUARTER 
OF THE SOUTHEAST QUARTER OF SECTION 11 
SOUTH QUARTER—CORNER 
SECTION 11, 12N, R1W 
BRASS CAP FLUSH 
NORTH QUARTER—CORNER 
SECTION 11, T2N, R1W 
BRASS CAP IN HANDHOLE 
POINT OF' COMMENCEMENT 
CENTER QUARTER—CORNER 
SECTION 11, T2N, R1W 
BRASS CAP FLUSH 
MARYLAND AVE 
EAST QUARTER—CORNER 
SECTION 11, T2N, R1W 
BRASS CAP IN HANDHOLE 
S89'1 0'20 1'E 	
2604.27' 
CNI 
POINT OF BEGINNING 
40.00' 
1262.13' 
r-- 
MAnIrLAND EST. ES 
EAST LINE OF THE NORTHWEST QUARTER 
OF THE SOUTHEAST QUARTER OF SECTION 
N8908'25"W 	
1261.94' 
200 	
200 	
400 
	
 Immom 
scale 	
feet 
EXHIBIT 
co 
MARYLAND ESTATES 
www.epsgroupinc.com

El Mirage 20 L.L.C. 
An Arizona Limited Liability Company 
Resolution 
STATE OF ARIZONA 	
) 
) ss. 
Maricopa County 
THIS IS TO CERTIFY THAT at a meeting of the Managers of El Mirage 20 
L.L.C., an Arizona Limited Liability Company, duly organized and existing under the 
laws of the State of Arizona, duly called on November 6, 2019, the following resolution 
was adopted and the same has not been revoked: 
RESOLVED THAT, LARRY A. FINK and GARY LANE, as Managers of this 
Limited Liability Company hereby authorize and empower GARY LANE for and on 
behalf of and in the name of this Limited Liability Company and on such terms and 
conditions as thet see fit: 
To make, execute and deliver the Assurance Agreement dated November 6, 
2019 between El Mirage 20 L.L.C. and Maricopa County, a Political Subdivision in the 
State of Arizona, a copy of which is attached hereto and by this reference incorporated 
herein. 
IN WITNESS WHEREOF, the lyanagers of this Limited Liability Company have 
hereunto set their hand officially this  400 
 day of November, 2019. 
El Mirgae 20 L.L.C., 
an Arizona limited liability company

STATE OF ARIZONA ) 
) ss. 
County of Maricopa 	
) 
Subscribed and sworn to before me this  (0 	
day of November, 2019, by Larry 
A. Fink, as Manager of El Mirage 20 L.L.C., an Arizona limited liability company, known 
to me to be the person whose name is above subscribed, who acknowledged to me 
that he has executed the foregoing instrument. 
JC} 	
o2  
Notary Public 
My Commission Expires: 
oi sroe 
 
SON IA CHRISTINE PEDRO 
ot 	
Notary Public - Arizona 
Maricopa County 
Commission # 551203 
" 	
My Comm. Expires Sep 8, 2022 
STATE OF ARIZONA ) 
) ss. 
County of Maricopa 	
) 
Subscribed and sworn to before me this 	
day of November, 2019, by Gary 
Lane, as Manager of El Mirage 20 L.L.C., an Arizona limited liability company, known to 
me to be the person whose name is above subscribed, who acknowledged to me that 
he has executed the foregoing instrument. 
otary Public 
My Commission Expires: 
NE PEDRO 
Notary Public - Arizona 
Maricopa County 
Commission ft 551203 
My Comm. Expires Sep 8, 2022