TERMS AND CONDITIONS

VP Daybreak Operations LLC and VP Daybreak Devco LLC (“Developer”) has worked with its homebuilder partners (“Builder Partner(s)”) to create a home purchase incentive program and promotion (“Promotion”) for the Daybreak master-planned community (“Daybreak”) in South Jordan, Utah, under which homebuyers who purchase an eligible move-in ready home in Daybreak, and who meet the specified criteria and conditions of the Promotion and are approved by Developer for the Promotion (“Eligible Buyer(s)”), will receive their Daybreak Master Homeowners Association Fees (“Daybreak Master HOA Fees”) paid for two (2) years. The terms and conditions of the Promotion are as follows:

1.  Eligible Buyers who enter into a purchase* contract from the Developer’s Quick Move-In (QMI) spec home list within the Daybreak community beginning May 1, 2023, through December 31, 2023 (subject to limited number of certificates) and are approved for the Promotion, will have their Daybreak Master HOA Fees paid for two (2) years.

2.  The Promotion only covers payment of the Daybreak Master Community Association fees for each Eligible Buyer at the current monthly rate, not any sub-association fees or subsequent master association fee increases. The Promotion is not retroactive for purchase contracts prior to May 1, 2023.

3.  The current Daybreak Master HOA Fees are $134.50 per month, totaling $3,228.00 for the two (2) years included in the Promotion (“Promotion Fees”).

4.  If the Daybreak Master HOA Fees increase from the 2023 rate of $134.50 per month, the Eligible Buyer will be responsible for the difference, not Developer or the Builder Partners. Eligible Buyer is responsible for any fines, special assessments or additional charges that may occur over the course of ownership by the Daybreak Master Community Association.

5.  Each Eligible Buyer is responsible for the payment of any taxes or fees owed in connection with the Promotion.

6.  The Promotion will be granted to the first forty (40) eligible participants as of May 1, 2023, and will expire on December 31, 2023, or once all forty (40) certificates have been issued. Each Eligible Buyer can participate in the Promotion only one time.

7.  The Promotion is not intended to and shall not be used to help an Eligible Buyer qualify for any home loan. The Eligible Buyer would need to qualify for the loan with any and all applicable Daybreak Master HOA Fees included. This Promotion is not intended to help any potential buyers with loan qualification requirements.

8.  The Promotion is not transferable to another purchase contract. If an Eligible Buyer cancels a home purchase after the eligible contract is written, writes a new contract with the same or a different Builder Partner, and/or switches lots, the Eligible Buyer forfeits the Promotion. Purchase contracts executed prior to May 1, 2023, are ineligible for this Promotion.

9.  The homebuyer and/or the homebuyer’s sales agent is responsible for requesting the Promotion from Developer. When a home is anticipated to go under contract, the homebuyer and/or the homebuyer’s sales agent must contact Elizabeth Gray at Elizabeth.Gray@lhm.com and request the Promotion. Approval is conditioned on satisfaction of the terms and conditions of the Promotion and is not guaranteed. Developer shall have the absolute discretion to determine the eligibility of each homebuyer requesting the Promotion. While Developer retains the absolute discretion to determine the eligibility of homebuyers based on the terms and conditions of the Promotion, Developer will not discriminate in any way against any homebuyer based on their race, color, religion, gender, age, sexual orientation, marital status, disability, or national or ethnic origin.

10.  Once an Eligible Buyer is approved for the Promotion, Developer will provide a certificate to the (i) applicable Builder Partner, and (ii) Eligible Buyer and/or Eligible Buyer’s sales agent, which must be included in the home closing materials to ensure payment of the Promotion.

11.  For each Eligible Buyer, the Promotion Fees totaling $3,228.00 will be paid in a lump sum to the Daybreak Community Association at closing.

12.  Developer will evenly split the Promotion Fees for each Eligible Buyer with its Builder Partners, meaning Developer and each applicable Builder Partner will be responsible for the payment of $1,614.00 each per Eligible Buyer. The Builder Partner who built and sold each home purchased by an Eligible Buyer will be responsible for its half of the Promotion Fees.

13.  Developer will issue refund checks for its portion of the Promotion Fees, if any, to each Builder Partner at the end of every quarter.

14.  The Builder Partners that are participating in the Promotion and agree to the terms and conditions of the Promotion are: David Weekley Homes, Destination Homes, Fieldstone Homes, Holmes Homes, Ivory Homes, Rainey Homes, Sego Homes, Oakwood Homes, and Parkwood Homes.

*Purchase shall mean that a purchase contract is executed by Eligible Buyer and Builder.