Lionsback Resort FAQ

An unparalleled experience of discovery and respite.

APRIL 2024 v.P1.3

WELCOME TO LIONSBACK RESORT WELCOME TO LIONSBACK RESORT

This is a special place where the light changes every hour and the vastness of the landscape transforms to your every move. While its 175 acres of land offers a sense of seclusion, Lionsback Resort is a stone’s throw away from downtown Moab, rich with community and culture. When the wild terrain is calling, you will find yourself at the gateway of the world- renowned Sand Flats Recreation Area , Arches and Canyon l ands National Parks, and the Colorado River. This is a special place where the light changes every hour and the vastness of the landscape transforms to your every move. While its 175 acres of land offers a sense of seclusion, Lionsback Resort is a stone’s throw away from downtown Moab, rich with community and culture. When the wild terrain is calling, you will find yourself at the gateway of the world- renowned Sand Flats Recreation Area , Arches and Canyon l ands National Parks, and the Colorado River. Moab is an adventure destination that offers something for everyone. Whether you are a mountain biker, hiker, climber, river rafter, four-wheeler, or just here to take in the never ending landscape, Lionsback is your homebase. The Lionsback Resort Casitas have been designed with you in mind. Moab is an adventure destination that offers something for everyone. Whether you are a mountain biker, hiker, climber, river rafter, four-wheeler, or just here to take in the never ending landscape, Lionsback is your homebase. The Lionsback Resort Casitas have been designed with you in mind. Purchasing a resort property can be a complex transaction that raises many questions for buyers. This Frequently Asked Questions is intended to answer some of the common questions future homeowners may have, and to summarize the pertinent legal documents in an easy-to-understand format. We have included information on the project, the developer, the Lionsback Property Association, and other information that might be of interest to you. Purchasing a resort property can be a complex transaction that raises many questions for buyers. This Frequently Asked Questions is intended to answer some of the common questions future homeowners may have, and to summarize the pertinent legal documents in an easy-to-understand format. We have included information on the project, the developer, the Lionsback Property Association, and other information that might be of interest to you. While this document is fairly comprehensive, it is not all-encompassing, so we encourage you and your legal representative to read all of the legal documents yourselves to ensure a complete understanding of the project and the benefits, requirements, conditions and restrictions that accompany ownership within Lionsback Resort. You should also feel free to contact your local real estate agent or me with any questions. We want you to be comfortable with your purchase and will do our best to answer any questions you may have. You should also feel free to contact your local real estate agent or me with any questions. We want you to be comfortable with your purchase and will do our best to answer any questions you may have. While this document is fairly comprehensive, it is not all-encompassing, so we encourage you and your legal representative to read all of the legal documents yourselves to ensure a complete understanding of the project and the benefits, requirements, conditions and restrictions that accompany ownership within Lionsback Resort.

THE LAND AND ITS CONSERVATION IS AT THE VERY CENTER OF LIONSBACK RESORT.

Our own personal histories are intertwined with this rugged terrain, which has led to careful consideration in every single design and development decision. It’s our dream to create a destination that shares all the wonders of Moab – but in a way that preserves this sacred land for generations to come. Lionsback is a place to bring people together from all corners of the world who share a passion for the rich Moab landscape and boundless adventures.

Sincerely,

Jon Dwight jon@inventdp.com Jon Dwight jon@inventdp.com

TABLE OF CONTENTS TABLE OF CONTENTS

AREA OVERVIEW

AREA OVERVIEW LIONSBACK RESORT OVERVIEW SUSTAINABILITY FEATURES CASITA FEATURES AND DESIGN DETAILS PARKING CONSTRUCTION PROCESS THE LB CLUB PROPERTY MANAGEMENT AND NIGHTLY RENTALS PURCHASE DETAILS OWNERSHIP AND MAINTENANCE PROPERTY OWNERS ASSOCIATION (POA) LAND AND ENTITLEMENTS INFRASTRUCTURE FUTURE DEVELOPMENT AREA OVERVIEW LIONSBACK RESORT OVERVIEW SUSTAINABILITY FEATURES CASITA FEATURES AND DESIGN DETAILS PARKING CONSTRUCTION PROCESS THE LB CLUB PROPERTY MANAGEMENT AND NIGHTLY RENTALS PURCHASE DETAILS OWNERSHIP AND MAINTENANCE PROPERTY OWNERS ASSOCIATION (POA) LAND AND ENTITLEMENTS INFRASTRUCTURE FUTURE DEVELOPMENT

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POTASH ROAD

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SLICKROCK BIKE TRAIL

HWY 191

MORNING GLORY NATURAL ARCH

SAND FLATS REC AREA

LITTLE RAINBOW BRIDGE

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COLORADO RIVER

MOAB

MAIN STREET

SAND FLATS ROAD

KANE CREEK BLVD

MILL CREEK

THE BILLBOARD

While its 175 acres of land offer a sense of seclusion, Lionsback Resort is a stone’s throw away from the city of Moab, so you’re never far from community and culture. When the wild terrain is calling, Lionsback Resort stands at the gateway of the world renowned Sa nd Flats Recreation Area , two national parks and the Colorado River for limitless discovery. A destination with the best of both worlds, Lionsback Resort welcomes all ages to relax and recharge after exploring civilized towns and untamed terrains.

LIONSBACK RESORT OVERVIEW

WHAT SIZE ARE THE RESIDENCES? Lionsback resort will feature two- and three-bedroom single family homes known as “Casitas” ranging in size from roughly 1,600 livable square feet for the Strata Casita, 2,100 livable square feet for the Mesa Casita, and up to 3,000 livable square feet for the Spire Casita. WHAT AMENITIES ARE OFFERED AT LIONSBACK RESORT? Lionsback Resort is surrounded by some of the most incredible natural amenities that could never be replicated by man. The 9,000 acre Sand Flats Recreation Area is directly adjacent to Lionsback which offers world class mountain biking, hiking and four-wheeling. In addition to the biking and hiking trails that will be developed on the resort site, certain Club amenities, including, without limitation, the Club pool, are anticipated to be constructed along with the second phase of Casitas and will be available to Casita Club Members and certain guests (see “The LB Club” section below). WHO IS THE DEVELOPER OF THE PROJECT? The developer of Phase 1 of the Lionsback Resort is LB Moab Owner Phase 1, LLC who is solely responsible for the development of Phase 1 of the project. Invent Development Partners manages and oversees the development process. The principals of Invent Development Partners have over 60 collective years of resort and urban development from coast-to-coast.

WHAT IS LIONSBACK RESORT? Lionsback Resort is a one of kind resort development located 400 feet above the dramatic landscape of downtown Moab, Utah. The 175-acre site is located directly adjacent to the world renown, 9,000-acre Sand Flats Recreation Area. The master plan for Lionsback Resort is envisioned to offer 188 timeless, contemporary, one- and two-story single family residential Casitas, a private recreational club, and a proposed hotel. The project will likely be developed in six separate phases. With over 70% open space, the resort is a vast landscape inclusive of thoughtfully designed Casitas, planned pedestrian and bike trails, a private recreational club, and a proposed high-end hotel featuring a restaurant, pool complex, destination spa, fitness center and conference and wedding venue. WHERE IS LIONSBACK RESORT? Lionsback Resort is located along Sand Flats Road directly adjacent to the Sand Flats Recreation A rea, just 2 miles from downtown Moab’s retail and dining core. The property is a short drive from Canyonlands National Park, Arches National Park, Deadhorse Point State Park, and the Colorado River.

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DEVELOPER Our vast knowledge in all aspects of the real estate development process, coupled with our attention to detail at every turn, provides the valuable edge you need to succeed in today’s highly technical and competitive marketplace.

LEGEND

inventdp.com

STRATA MESA SPIRE

PHASE 4

PHASE 5

ARCHITECT HKS creates experiential destinations that touch the soul of every guest. Our global team takes an inclusive, forward-thinking approach to create bespoke designs for our clients, their guests and communities. Curiosity, creativity and intelligence are the hallmarks of our design teams who balance beauty and performance in each environment they create.

HELL’S REVENGE 4x4 TRAIL

PHASE 2

RIDGE TRAIL

PHASE 3

PROPOSED FUTURE HOTEL

PHASE 1

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SAND FLATS CONNECTOR TRAIL

INTERIORS Our approach is simple. We create uncomplicated, authentic interiors that complement the natural environment.

MILL CREEK TRAIL

SAND FLATS ROAD

TO MOAB

ENTRANCE TO SAND FLATS REC AREA

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SUSTAINABILITY FEATURES

CASITA FEATURES AND DESIGN DETAILS WHAT SIZE ARE THE RESIDENCES? Lionsback resort will feature two- and three-bedroom single family homes known as “Casitas” ranging in size from roughly 1,600 livable square feet for the Strata Casita, 2,100 livable square feet for the Mesa Casita, and up to 3,000 livable square feet for the Spire Casita. WHAT AMENITIES ARE OFFERED AT LIONSBACK RESORT? Lionsback Resort is surrounded by some of the most incredible natural amenities that could never be replicated by man. The 9,000 acre Sand Flats Recreation Area is directly adjacent to Lionsback which offers world class mountain biking, hiking and four-wheeling. In addition to the biking and hiking trails that will be developed on the resort site, certain Club amenities, including, without limitation, the Club pool, are anticipated to be constructed along with the second phase of Casitas and will be available to Casita Club Members and certain guests (see “The LB Club” section below). WHO IS THE DEVELOPER OF THE PROJECT? The developer of Phase 1 of the Lionsback Resort is LB Moab Owner Phase 1, LLC who is solely responsible for the development of Phase 1 of the project. Invent Development Partners manages and oversees the development process. The principals of Invent Development Partners have over 60 collective years of resort and urban development from coast-to-coast. WHAT WAS THE BASIS OF THE DESIGN FOR THE CASITAS? Designed by renowned architect Thomas E. Sprinkle, AIA the Strata and Mesa Casitas are designed to blend into their beautiful environment by careful selection of materials and colors, and the Casitas are positioned on the site to take advantage of the surrounding views of the nearby Red Rock fins and La Sal Mountains. With a contemporary design, the Casitas blend interior and exterior spaces by connecting their patios to the common areas with large sliding doors. Tall ceilings with clearstory windows and floor to ceiling glass let in an abundance of natural light resulting in a dynamic experience throughout the day. To accommodate larger vehicles and recreational gear, the Casita were designed to accommodate oversized garages and provide a lockable owner storage closet.

ALL ELECTRIC RESIDENTIAL CASITAS Lionsback Casitas were intentionally designed as natural gas free, all electric, single-family homes. Induction stoves are featured in the kitchen and water vapor fireplaces are in the living room.

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MINIMAL LANDSCAPING Lionsback Resort took a light touch on the land approach to the master plan of the site. The goal was to minimally disturb the natural landscape which in turn allows for minimal revegetation. Additionally, the landscaping throughout the property utilizes native, drought resistant vegetation that seeks to minimize landscape irrigation water demand. There are no areas of grass lawns within the Casita phases. MINIMAL OUTDOOR LIGHTING Lionsback Resort features minimal outdoor lighting to minimize light pollution and to promote residents and guests ability to take advantage of the desert’s incredible night sky and stargazing opportunities. Exterior lighting throughout the property was designed to comply with Moab’s Dark Sky Initiative. DRINKING WATER SOURCE PROTECTION PLAN An ongoing collaborative partnership with the City of Moab has shaped the eco-conscious construction of Lionsback Resort, leading to plans such as the Drinking Water Source Protection Plan (DWSPP), which ensures the preservation of the nearby underground aquifer, while helping to preserve the indigenous plant life. The DWSPP has been integrated into every aspect of the design, construction and long-term ownership of the Lionsback Resort. In an effort to ensure the aquifer is protected for future generations, the DWSPP has been incorporated into the Lionsback Resort Property Owners Association governing documents.

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hksinc.com

INTERIORS Our approach is simple. We create uncomplicated, authentic interiors that complement the natural environment.

riverandlime.com

SPIRE WHAT AMENITIES ARE OFFERED AT LIONSBACK RESORT? Lionsback Resort is surrounded by some of the most incredible natural amenities that could never be replicated by man. The 9,000 acre Sand Flats Recreation Area is directly adjacent to Lionsback which offers world class mountain biking, hiking and four-wheeling. In addition to the biking and hiking trails that will be developed on the resort site, certain Club amenities, including, without limitation, the Club pool, are anticipated to be constructed along with the second phase of Casitas and will be available to Casita Club Members and certain guests (see “The LB Club” section below). WHO IS THE DEVELOPER OF THE PROJECT? The developer of Phase 1 of the Lionsback Resort is LB Moab Owner Phase 1, LLC who is solely responsible for the development of Phase 1 of the project. Invent Development Partners manages and oversees the development process. The principals of Invent Development Partners have over 60 collective years of resort and urban development from coast-to-coast. WHAT SIZE ARE THE RESIDENCES? Lionsback resort will feature two- and three-bedroom single family homes known as “Casitas” ranging in size from roughly 1,600 livable square feet for the Strata Casita, 2,100 livable square feet for the Mesa Casita, and up to 3,000 livable square feet for the Spire Casita.

STRATA 1

STRATA 2

2-Story ± 1,600 SF Livable 2 Bed / 2.5 Bath One-Car Garage, ± 500 SF

1-Story (may have split level Ground Floor) ± 1,600 SF Livable 2 Bed / 2.5 Bath One-Car Garage, ± 500 SF

Timeless 2-bedroom Casitas where treading-lightly meets sophisticated design, immersing you in the surrounding desert landscape with both indoor and outdoor living.

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1 or 2-Story Up to 3,000 SF Livable 3–4 Bedrooms Two-car garage

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This is a future limited release of a fully customized design for your dream Casita in Moab of up to 3,000 square feet.

MESA 1

MESA 2

2-Story ± 2,100 SF Livable 3 Bed / 3.5 Bath Two-Car Garage, ± 700 SF

1-Story (may have split level Ground Floor) ± 2,100 SF Livable 3 Bed / 3.5 Bath Two-Car Garage, ± 700 SF

hksinc.com

INTERIORS Our approach is simple. We create uncomplicated, authentic interiors that complement the natural environment.

Contemporary 3-bedroom Casitas designed with more space for friends, family and guests to escape to an incomparable indoor and outdoor living experience.

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DO THE CASITAS HAVE PATIOS? The Casitas were designed with outdoor living in mind. Each unit features spacious outdoor living space. Patio and deck furniture is included with the purchase of the furniture and housewares package. While some of the patios and decks are designed for outdoor hot tubs, hot tubs are not included in the Casita purchase price. Buyers will have the option to purchase a hot tub for their patios through the developer. The patios have been designed to only have the hot tubs in certain areas to meet structural and code requirements. LANDSCAPING The exterior landscaping and common irrigation system will be operated and maintained by the Property Owners Association. Casita owners will not be responsible for maintaining the landscaping of their Casita, except with respect to patio areas. WHAT AMENITIES ARE OFFERED AT LIONSBACK RESORT? Lionsback Resort is surrounded by some of the most incredible natural amenities that could never be replicated by man. The 9,000 acre Sand Flats Recreation Area is directly adjacent to Lionsback which offers world class mountain biking, hiking and four-wheeling. In addition to the biking and hiking trails that will be developed on the resort site, certain Club amenities, including, without limitation, the Club pool, are anticipated to be constructed along with the second phase of Casitas and will be available to Casita Club Members and certain guests (see “The LB Club” section below). DO THE CASITAS HAVE OWNER STORAGE? Understanding that Moab is an outdoor recreational mecca, the Casitas were thoughtfully designed with gear storage in mind. Each Casita garage features a lockable owner storage closet to securely store personal items when the owner is not in residence. WHO IS THE DEVELOPER OF THE PROJECT? The developer of Phase 1 of the Lionsback Resort is LB Moab Owner Phase 1, LLC who is solely responsible for the development of Phase 1 of the project. Invent Development Partners manages and oversees the development process. The principals of Invent Development Partners have over 60 collective years of resort and urban development from coast-to-coast. WHAT SIZE ARE THE RESIDENCES? Lionsback resort will feature two- and three-bedroom single family homes known as “Casitas” ranging in size from roughly 1,600 livable square feet for the Strata Casita, 2,100 livable square feet for the Mesa Casita, and up to 3,000 livable square feet for the Spire Casita.

HOW TALL ARE THE CEILINGS? The living room, dining room and kitchen areas were designed as open living spaces with tall ceilings capturing the surrounding landscape. The ceilings in these living areas are designed to feature ceilings from 13 feet to 19 feet high depending on the model. Typical hallway and bedroom ceilings are approximately 9.5 to 10 feet high excluding soffits. It should be noted that these are estimates and ceiling heights as actually constructed may vary. WHAT ARE THE FINISH OPTIONS? Each buyer will have an opportunity to select from one of two distinct interior finish packages, the Dune or the Arroyo. The interior finish packages were inspired by unique and dramatic natural features seen in Moab and the surrounding area. The Dune is the lighter palette and consists of layering of warm, neutral tones that create a minimal yet organic interior aesthetic. The Arroyo is the darker of the two palettes and was inspired by the deep blue and gray tones of an afternoon storm. The packages were designed by interior design firm River + Lime. Buyers must select one package and will not be permitted to mix and match from the two packages. Buyers will be required to select their finish package during the Buyer Due Diligence Period. Finish packages may change based on availability of materials and equipment and supply shortages. DO THE CASITAS INCLUDE APPLIANCES? The Casita interior finish packages include a high-end kitchen appliance package including a 36” refrigerator/freezer, 36” electric induction cooktop, 30” wall oven, dishwasher, microwave drawer, and beverage/wine fridge. Laundry Rooms will also include a washer and dryer. Additional details on the appliance package can be found in the Casita Conceptual Finish Book. CAN I BUY MY CASITA FURNISHED? Lionsback Resort Casita buyers will have the option to purchase a complete furniture and housewares package, both of which are curated by the interior design firm River + Lime. The purchase of these packages will allow Casita owners to take delivery of their units truly turn-key. A complete list of inventory included with the furnishings and housewares package has been provided to you.

RESIDENTIAL SPECS

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HVAC System

Outdoor air to air heat pump with indoor vertical fan coil with electric supplemental heat. Variable Volume and Temperature (VVT) zone controls are provided to have individual temperature control. Electrical multizone Variable Volume & Variable Temperature (VVT) Control system. DEVELOPER Our vast knowledge in all aspects of the real estate development process, coupled with our attention to detail at every turn, provides the valuable edge you need to succeed in today’s highly technical and competitive marketplace.

Electric 80 gallon water heater with dedicated hot water recirculation loop and circulator pump. inventdp.com

Water Heater Size

PVC membrane. ARCHITECT HKS creates experiential destinations that touch the soul of every guest. Our global team takes an inclusive, forward-thinking approach to create bespoke designs for our clients, their guests and communities. Curiosity, creativity and intelligence are the hallmarks of our design teams who balance beauty and performance in each environment they create. Each Casita is individually sprinklered for fire protection.

Roofing Type

Fire Protection

Typical exterior wall assemblies will have R values of R-20 or better. Roof assemblies will be R-49 or better. hksinc.com

Insulation

Exterior window acoustical values will range from STC 30 / OITC 25 to STC 35 / OITC 29, depending on window and Casita location. Acoustical studies have been conducted to determine where enhanced acoustical treatments are most advantageous INTERIORS Our approach is simple. We create uncomplicated, authentic interiors that complement the natural environment. riverandlime.com

Windows

CONSTRUCTION PROCESS WHAT SIZE ARE THE RESIDENCES? Lionsback resort will feature two- and three-bedroom single family homes known as “Casitas” ranging in size from roughly 1,600 livable square feet for the Strata Casita, 2,100 livable square feet for the Mesa Casita, and up to 3,000 livable square feet for the Spire Casita. WHAT AMENITIES ARE OFFERED AT LIONSBACK RESORT? Lionsback Resort is surrounded by some of the most incredible natural amenities that could never be replicated by man. The 9,000 acre Sand Flats Recreation Area is directly adjacent to Lionsback which offers world class mountain biking, hiking and four-wheeling. In addition to the biking and hiking trails that will be developed on the resort site, certain Club amenities, including, without limitation, the Club pool, are anticipated to be constructed along with the second phase of Casitas and will be available to Casita Club Members and certain guests (see “The LB Club” section below). EMERGENCY EXIT ROAD

PARKING PARKING

WHERE CAN I PARK MY CAR? Parking is provided in the garages and driveways of each Casita. Limited parking areas along the private streets may be provided in marked areas only. Strata Casitas feature an oversized one car garage while Mesa Casitas feature an oversized two car garage. Garage doors are designed to be 9 feet tall. It should be noted that these are design estimates and garage door heights as actually constructed may vary. Driveways are also long enough to accommodate additional off-street vehicle parking. WHERE CAN I PARK MY RV OR TRAILER? Over-sized vehicle and trailer parking will not be allowed in the Casita driveways or along the roads within Lionsback Resort. Trailers can be parked in the garage if they fit completely within the garage and the garage door can be fully closed. The Developer may provide oversize vehicle and trailer parking near the Hells Revenge exit of the property in the future. Until that time, Casita owners and guests will have to find offsite parking for oversized vehicles and trailers. WHERE CAN I PARK MY RV OR TRAILER? Over-sized vehicle and trailer parking will not be allowed in the Casita driveways or along the roads within Lionsback Resort. Trailers can be parked in the garage if they fit completely within the garage and the garage door can be fully closed. The Developer may provide oversize vehicle and trailer parking near the Hells Revenge exit of the property in the future. Until that time, Casita owners and guests will have to find offsite parking for oversized vehicles and trailers. WHERE CAN I PARK MY CAR? Parking is provided in the garages and driveways of each Casita. Limited parking areas along the private streets may be provided in marked areas only. Strata Casitas feature an oversized one car garage while Mesa Casitas feature an oversized two car garage. Garage doors are designed to be 9 feet tall. It should be noted that these are design estimates and garage door heights as actually constructed may vary. Driveways are also long enough to accommodate additional off-street vehicle parking.

PHASE 1

LEGEND

STRATA MESA SPIRE

HELL’S REVENGE 4X4 TRAIL

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28 27 WHO IS THE DEVELOPER OF THE PROJECT? The developer of Phase 1 of the Lionsback Resort is LB Moab Owner Phase 1, LLC who is solely responsible for the development of Phase 1 of the project. Invent Development Partners manages and oversees the development process. The principals of Invent Development Partners have over 60 collective years of resort and urban development from coast-to-coast. 26 24 25 23 22 21 20 18 19 17 16 15 14 12 11 08 07 06

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SAND FLATS CONNECTOR TRAIL

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WHO IS THE GENERAL CONTRACTOR FOR THE CASITAS? Construction of the Phase 1 Casitas will be led by Clark Atkinson of Denver based, Zocalo Construction. Mr. Atkinson’s extensive resort construction experience in remote areas over the last 35 years includes but is not limited to the Arrabelle at Vail Square, Hyatt Grand Aspen, Element 52 in Telluride, and the Hotel Madeline in Telluride. He brings a long history of building in remote resort areas such as Moab. WHEN WILL CONSTRUCTION BEGIN AND HOW LONG WILL IT TAKE? Phase 1 Casita construction began in February 2023 . The first units in Phase 1 are expected to be completed i n Spring 2024 with all units in Phase 1 expected to be completed by the end of 2024. It is not uncommon for construction schedules to be extended due to supply chain issues, labor shortages, and/or governmental delays. hksinc.com

INTERIORS Our approach is simple. We create uncomplicated, authentic interiors that complement the natural environment.

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THE LB CLUB

HOW DO I JOIN THE LB CLUB? In accordance with the CC&Rs for the Lionsback Property Association, every Casita owner is required to be a member of the LB Club and subject to LB Club dues, fees, rules and regulations. The Club owner shall also have a lien on each lot for all Club membership dues and fees. WHAT SIZE ARE THE RESIDENCES? Lionsback resort will feature two- and three-bedroom single family homes known as “Casitas” ranging in size from roughly 1,600 livable square feet for the Strata Casita, 2,100 livable square feet for the Mesa Casita, and up to 3,000 livable square feet for the Spire Casita. WHAT AMENITIES ARE OFFERED AT LIONSBACK RESORT? Lionsback Resort is surrounded by some of the most incredible natural amenities that could never be replicated by man. The 9,000 acre Sand Flats Recreation Area is directly adjacent to Lionsback which offers world class mountain biking, hiking and four-wheeling. In addition to the biking and hiking trails that will be developed on the resort site, certain Club amenities, including, without limitation, the Club pool, are anticipated to be constructed along with the second phase of Casitas and will be available to Casita Club Members and certain guests (see “The LB Club” section below). CAN MY MEMBERSHIP TO THE LB CLUB BE TERMINATED OR CANCELLED? No. An Owner’s membership in the Club may be suspended, in the Club Owner’s sole discretion, if such owner fails to pay its membership dues and fees and/or is otherwise in violation of the LB Club Membership Documents. If the Club owner suspends an Owner’s membership in the Club, such defaulting Owner’s membership fees and dues (and any late fees and interest) shall continue to accrue for the benefit of the Club owner. If the Club owner suspends an Owner’s membership in the Club, such membership shall remain suspended until such owner pays all outstanding membership fees and dues (any late fees and interest) and/or cures any violation of the LB Club Membership Documents. If an Owner’s membership in the Club is suspended as of the date of an Owner’s transfer of the Casita, the Club owner shall reinstate the applicable membership to the transferee upon payment of all outstanding amounts related to such membership. WHO IS THE DEVELOPER OF THE PROJECT? The developer of Phase 1 of the Lionsback Resort is LB Moab Owner Phase 1, LLC who is solely responsible for the development of Phase 1 of the project. Invent Development Partners manages and oversees the development process. The principals of Invent Development Partners have over 60 collective years of resort and urban development from coast-to-coast. IS THE DEVELOPER GUARANTEEING THE LB CLUB POOL AMENITY WILL BE BUILT? The Developer anticipates that the pool amenity will be built with the construction of Phase 2 Casitas subject to entitlement approvals of the City of Moab. In the unlikely event that Developer does not obtain the entitlement approvals or the Phase 2 Casitas and beyond are never constructed, then the LB Club pool and other amenities may not be constructed.

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WHAT IS THE LB CLUB? The LB Club has been created by the Developer to provide certain amenities to Casita owners and the Lionsback Property and Rental Management Company.

WHAT AMENITIES MIGHT THE LB CLUB PROVIDE? The LB Club is proposing to develop a swimming pool complex in conjunction with the Lionsback Phase 2 Casitas. It is currently envisioned that the LB Club amenities will include a pool, jacuzzi, lounge decks, and BBQ area.

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WHEN WILL LB CLUB DUES BE ASSESSED? LB Club dues and fees will not be assessed until the swimming pool complex or other amenities are completed and ready for use.

WHO CAN USE THE LB CLUB AMENITIES? Casita owners and their non-revenue paying guests will be allowed to use the LB Club amenities subject to the “LB Club Membership Documents” (which will include the LB Club membership plan, LB Club rules and regulations, and LB Club membership agreement). The Lionsback Property and Rental Management Company will also have access to the LB Club amenities and guests who rent a Casita through Lionsback Property and Rental Management Company will have access to the Club amenities during their stay. Casitas rented by other third-party rental companies or rented directly by an owner will not have access to the LB Club amenities or benefits.

hksinc.com

INTERIORS Our approach is simple. We create uncomplicated, authentic interiors that complement the natural environment.

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PROPERTY MANAGEMENT AND

WHAT IS THE SALES PROCESS TO CONTRACT A CASITA? The Lionsback Sales Team will provide you with a Real Estate Purchase Contract (REPC) and the initial sales package. You will have 5 business days to review these documents, sign the REPC, and return it to the Sales Team. You will then have 3 business days to make your initial 5% Earnest Money Deposit. Upon receipt of your signed REPC, the Sales Team will deliver a Seller’s Disclosure Package within 3 business days. inventdp.com HOW MUCH IS THE EARNEST MONEY DEPOSIT AND WHEN IS THE EARNEST MONEY DEPOSIT DUE? An initial earnest money deposit equal to 5% of the Purchase Price is due within 3-business days of signing the REPC. This initial 5% earnest money deposit will be refundable until the end of the Due Diligence Period. Reservation Agreement deposits will be credited towards the 5% deposit due at the signing of the REPC. An additional non-refundable earnest money deposit equal to 15% of the purchase price will be due upon hksinc.com receipt of the building permit and commencement of vertical construction of each individual Casita. The earnest money deposits will be held at First American Title Insurance Company and applied to the purchase price at closing. PURCHASE DETAILS WHAT SIZE ARE THE RESIDENCES? Lionsback resort will feature two- and three-bedroom single family homes known as “Casitas” ranging in size from roughly 1,600 livable square feet for the Strata Casita, 2,100 livable square feet for the Mesa Casita, and up to 3,000 livable square feet for the Spire Casita. WHAT AMENITIES ARE OFFERED AT LIONSBACK RESORT? Lionsback Resort is surrounded by some of the most incredible natural amenities that could never be replicated by man. The 9,000 acre Sand Flats Recreation Area is directly adjacent to Lionsback which offers world class mountain biking, hiking and four-wheeling. In addition to the biking and hiking trails that will be developed on the resort site, certain Club amenities, including, without limitation, the Club pool, are anticipated to be constructed along with the second phase of Casitas and will be available to Casita Club Members and certain guests (see “The LB Club” section below). WHO IS THE DEVELOPER OF THE PROJECT? The developer of Phase 1 of the Lionsback Resort is LB Moab Owner Phase 1, LLC who is solely responsible for the development of Phase 1 of the project. Invent Development Partners manages and oversees the development process. The principals of Invent Development Partners have over 60 collective years of resort and urban development from coast-to-coast.

NIGHTLY RENTALS

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WILL I BE ABLE TO SHORT TERM RENT MY CASITA? Yes. Lionsback Resort was entitled under the City of Moab’s Sensitive Area Resort Zoning (SAR) which allows for overnight accommodations. The City of Moab has removed all “overnight accommodations” from their zoning code, however, Lionsback Resort was approved prior to this occurring and, therefore, grandfathered in for overnight accommodations under the old zoning code. Notwithstanding the foregoing, certain restrictions and rules on short term rentals apply and we recommend full review of the Master Declaration of Covenants, Conditions, Restrictions, and Reservation of Easements for Lionsback Resort (CC&Rs).

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DOES THE RESORT HAVE ON-SITE RENTAL AND PROPERTY MANAGEMENT?

Lionsback Resort intends to offer on-site rental and property management, provided, however, a Casita owner can choose to: (1) rent through the on-site rental and property management program, (2) rent through a third-party rental and property management company of such owner’s choosing; or (3) rent the Casita on such owner’s own account. It should be noted that any owner desiring to rent their Casita is required by the CC&Rs to follow the guidelines and restrictions established from time to time including without limitation maintaining the “Standard Package” which will require the owner to obtain the furniture and housewares package required by the rental and property management program. ARE PROPERTY MANAGEMENT SERVICES AVAILABLE IF I DON’T RENT MY CASITA? Yes, the Lionsback Property and Rental Management Company will provide typical property management services on a fee basis to all Casita owners, if desired.

INTERIORS Our approach is simple. We create uncomplicated, authentic interiors that complement the natural environment.

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OWNERSHIP AND MAINTENANCE WHAT SIZE ARE THE RESIDENCES? Lionsback resort will feature two- and three-bedroom single family homes known as “Casitas” ranging in size from roughly 1,600 livable square feet for the Strata Casita, 2,100 livable square feet for the Mesa Casita, and up to 3,000 livable square feet for the Spire Casita. WHAT AMENITIES ARE OFFERED AT LIONSBACK RESORT? Lionsback Resort is surrounded by some of the most incredible natural amenities that could never be replicated by man. The 9,000 acre Sand Flats Recreation Area is directly adjacent to Lionsback which offers world class mountain biking, hiking and four-wheeling. In addition to the biking and hiking trails that will be developed on the resort site, certain Club amenities, including, without limitation, the Club pool, are anticipated to be constructed along with the second phase of Casitas and will be available to Casita Club Members and certain guests (see “The LB Club” section below). WHO IS THE DEVELOPER OF THE PROJECT? The developer of Phase 1 of the Lionsback Resort is LB Moab Owner Phase 1, LLC who is solely responsible for the development of Phase 1 of the project. Invent Development Partners manages and oversees the development process. The principals of Invent Development Partners have over 60 collective years of resort and urban development from coast-to-coast.

IS THERE A DUE DILIGENCE PERIOD AND WHEN DOES MY EARNEST MONEY BECOME NON-REFUNDABLE? Yes, a Buyer has 10 business days to review the Due Diligence Package. The Buyer may terminate their REPC in writing and receive their 5% Earnest Money back during this 10 business day period. If the Buyer does not terminate the REPC, prior to the end of the Due Diligence Period, the 5% Earnest Money becomes non-refundable and the Buyer is obligated to close on the Casita in accordance with the terms and conditions of the REPC. Buyer will need to make their interior finishes selection (Dune or Arroyo) during the Due Diligence Period. MAY I DO CONSTRUCTION INSPECTIONS? Per the REPC, access to the property while under construction is not permitted in order to maintain a safe construction environment and minimize disruptions. On occasion, the Developer may be able to provide the Buyer with a site tour at its sole discretion. The Buyer will have 15 days to complete an inspection upon receiving the Notice of Closing. DOES THE PURCHASE PRICE INCLUDE FURNISHINGS? The purchase price does not include furnishings. Buyer may purchase a complete furniture and housewares package, both designed by River + Lime as further discussed above. It should be noted that the CC&R’s require an owner to purchase the River + Lime furniture and housewares package in order to rent their unit on a short-term basis. This requirement is in place to control and ensure the quality and consistency expected of a high-end resort. WHAT IS THE PROCESS FOR PURCHASING MY FURNISHINGS AND HOUSEWARES PACKAGE? The buyer will contract directly with River + Lime for a furniture and housewares package. The River + Lime furniture and housewares package along with the draft purchase agreement, price range, and process will be provided with the initial sales package. Please refer to the River + Lime documents for additional details.

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IS MY CASITA A SINGLE-FAMILY RESIDENCE, DUPLEX OR TOWNHOUSE?

While some of the Casitas have zero lot lines and will have a flashing connecting two homes, each Casita is considered a single-family residence. Each Casita has been designed and built as an independent structure. inventdp.com

MAY I FINANCE THE PURCHASE OF MY CASITA? Yes, however the Real Estate Purchase Contract does not provide for a financing contingency. Buyers do not have termination rights should they be unable to secure financing.

WHAT UTILITY SERVICES ARE AVAILABLE TO MY CASITA? Water and sewer are provided by the City of Moab, electric service is provided by Rocky Mountain Power and telecom services (internet, cable and telephone) are provided by Emery Telcom. Owners will contract directly with the respective service providers for these utilities.

WHEN CAN I CLOSE ON MY CASITA? Buyers will receive a Notice of Closing from Seller. Closing shall occur within 21 calendar days of the delivery of the Notice of Closing. Closing will be coordinated through First American Title Insurance Company. Buyers will be provided with final recorded governing documents and a final title commitment. Prior to closing, Buyers will have an opportunity to schedule a walk-through of their Casita to identify any punch-list items that need to be corrected or completed. The developer will have a designated representative to assist buyers with making sure these items are corrected or completed.

DO I NEED TO CARRY HOMEOWNER’S INSURANCE ON MY CASITA? Yes, the POA will not carry any insurance to cover your Casita or any of your personal property. hksinc.com

INTERIORS Our approach is simple. We create uncomplicated, authentic interiors that complement the natural environment.

WHERE DO I DISPOSE OF TRASH? Curbside trash services will be provided by the City of Moab who will provide trash and recycling bins for each Casita. Owners will contract directly with the City for this service. riverandlime.com

DOES MY CASITA COME WITH A WARRANTY? A 1 year limited builders warranty will be provided.

PROPERTY OWNERS ASSOCIATION WHAT SIZE ARE THE RESIDENCES? Lionsback resort will feature two- and three-bedroom single family homes known as “Casitas” ranging in size from roughly 1,600 livable square feet for the Strata Casita, 2,100 livable square feet for the Mesa Casita, and up to 3,000 livable square feet for the Spire Casita. WHAT AMENITIES ARE OFFERED AT LIONSBACK RESORT? Lionsback Resort is surrounded by some of the most incredible natural amenities that could never be replicated by man. The 9,000 acre Sand Flats Recreation Area is directly adjacent to Lionsback which offers world class mountain biking, hiking and four-wheeling. In addition to the biking and hiking trails that will be developed on the resort site, certain Club amenities, including, without limitation, the Club pool, are anticipated to be constructed along with the second phase of Casitas and will be available to Casita Club Members and certain guests (see “The LB Club” section below). WHAT IS THE PROPERTY OWNERS ASSOCIATION (POA)? The Lionsback Property Association is a Utah Non-Profit Corporation that will be responsible for maintaining the common elements and open space at Lionsback Resort, subject to reimbursement by the Casita owners. WHO IS THE DEVELOPER OF THE PROJECT? The developer of Phase 1 of the Lionsback Resort is LB Moab Owner Phase 1, LLC who is solely responsible for the development of Phase 1 of the project. Invent Development Partners manages and oversees the development process. The principals of Invent Development Partners have over 60 collective years of resort and urban development from coast-to-coast. WHAT WILL MY POA DUES INCLUDE? The POA dues will cover the management, maintenance and repair of all common areas. This will include, without limitation, all landscaping and irrigation including common areas and areas around each Casita, the entrance to the resort, roads, trails, sidewalks, and open space. WHAT IS THE POA RESERVE FUND USED FOR AND HOW ARE RESERVES FUNDED FOR THE POA? The POA shall establish and fund a reserve fund for the long-term maintenance, repair and replacement of common areas and shall obtain and update a Reserve Analysis (as defined in Utah Code § 57-8a-211(1)) as required by the CC&Rs and the Utah Community Association Act. The Declarant under the CC&Rs shall have no duty to obtain a Reserve Analysis or to maintain a reserve fund during the Control Period established in the CC&Rs pursuant to Utah Code § 57-8a-211(10). The reserve fund will be used for repairs, replacement and upgrades to the common areas and open space including but not limited to private roads, sidewalks, street and trail signage, landscaping, irrigation system, entry monument, site drainage system, and trail system. WHAT IS THE REINVESTMENT FEE COVENANT? Upon the occurrence of certain transfers, such as the conveyance of fee simple title to any Casita following the initial purchase from developer, the transferee under such transfer shall pay to the POA a reinvestment fee not to exceed 0.5% of the fair market value of the Casita upon such transfer. The Board will establish such reinvestment fee from time to time, but such fee shall not exceed 0.5%. Proceeds of the reinvestment fees shall be segregated in a fund to be known as the “Sinking Fund,” which benefits the resort and common areas, as further described and explained in the CC&Rs. hksinc.com inventdp.com

WHAT WILL MY ADDRESS BE? The address will be XXX , Moab, Utah 84532

WHERE WILL I RECEIVE MY MAIL? Casita owners will receive mail at a PO Box located at the Moab Post Office. Courier deliveries (Fedex, UPS etc) can be delivered directly to the home address .

WILL I OWE PROPERTY TAXES ON MY CASITA? Yes, Grand County charges property taxes which will be billed directly to each owner. The City of Moab does not currently assess property taxes, however, they have the right to do so and could assess additional City of Moab property taxes in the future. AM I RESPONSIBLE FOR THE EXTERIOR MAINTENANCE AND REPAIRS OF MY CASITA? Yes, the owner is responsible for all exterior maintenance of the Casitas including, but not limited to, exterior finishes such as stucco, windows, doors, roofs, patios, driveways, walkways, drainage systems and mechanical systems. The only exception is landscaping which is managed by the Lionsback Property Association. It should be noted that should an owner not perform required maintenance of such owner’s Casita, the Property Owners Association can perform such maintenance on such owner’s behalf and charge all costs related to such maintenance to such owner in order to maintain the standards of a high end resort.

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INTERIORS Our approach is simple. We create uncomplicated, authentic interiors that complement the natural environment.

riverandlime.com

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