TO 227 223ESCROW HOLD þeE R224 þ For value received, we hereby agree that the amount of Dollars ($) (223Funds224) is irrevocably committed and set aside by us in a separate account (No. ), under our control, to secure the timely comple-tion of certain common area improvements listed on the Planned Construction Statement attached to this set-aside letter as Exhibit 223A224 (223Improvements224) free of all liens and claims. We acknowledge that the Subdivider has granted the Association a security interest in the Funds to secure the Subdivider222s obligations to the Association to complete the Improvements, as Depository224 attached hereto as Exhibit 223B.224 Issuer further acknowledges and agrees that the Funds cannot be used or offset to satisfy the Subdivider222s obligations to the Issuer, if any. This set aside letter is issued for the purpose of compliance by the Subdivider with the provisions of Business and Professions Code 24711018.5(a)(2) or 11230. þ We assume no obligation and give no assurance with respect to: (i) proper completion of the Improvements, including -ments. þ The Funds shall be disbursed to the Subdivider, or to the order of the Subdivider, in progress payments when the im-marked Exhibit 223C224. However, no progress payment shall be so disbursed to the Subdivider or to the order of the Subdivider until the Subdivider has provided us with:(i) þ executed lien releases substantially in the form set forth in Civil Code 2473262(d)(2) covering all previous progress pay-ments for labor and materials performed or used in the construction of the Improvements, or title insurance, in an amount not less than the cost of the completed Improvements, insuring us and the Association that the Improvements are free of all liens and claims to the date of the requested disbursement; and þ previous progress payments for labor or materials actually performed or used in the construction of the Improvements. þ Ten percent (10%) or more of each progress payment or ten percent (10%) or more of the Funds (223retention224) shall be retained by us. No portion of the retention shall be disbursed to the Subdivider or to the order of the Subdivider unless and the Improvements have been completed, free of all liens and claims, and (i) the statutory period for recording mechanics lien claims for the Improvements has expired, or (ii) the Association has been provided with a policy of title insurance, in an amount not less than the cost of the completed Improvements, insuring that the Improvements as completed are free of SUBDIVIþsSIONþsS BORROW þeE RS 227 223 þSS U þbB DIVID þeE R224 þSS U þbB DIVISION 227 223 þSS U þbB DIVISION224 þOO N B þehEH ALF þOO F 227 223 þAA SSOCIA þtT ION224NAME OF SUBDIVIDER þAA DDRE þssSS , CITY, STATE, ZIP CODENAME OF SUBDIVI þsS IO þnN COU þnN TY þT T YPE OF SUBDIVI þsS IO þnDREN DRE þFF ILE NUMBERNAME OF þOO W þnN ER þsS þAssASS O þcC IATIO þnNþAA DDRE þssSS , CITY, STATE, ZIP CODENAME OF þEscESC ROW-HOLDER þ þAA DDRE þssSS , CITY, STATE, ZIP CODE STATE OF CALIFORNIAþDDEPARTMENT OF þRREAL þEEþsSTATESET-AþsSIDE LETTER [24711018.5(a)(2) or 11230] RE 629 (Rev. 5/18) American LegalNet, Inc. www.FormsWorkFlow.com RE 629 227 Reverse liens and claims. þ þ - þ We shall pay to Escrow Holder an amount up to but not in excess of the funds then available for disbursement pursuant to this letter, if Escrow Holder makes a request for such funds accompanied by a statement, purportedly signed by one of the þ $ is hereby requested on the Set Aside Letter issued , by (Issuer). This request is made in compliance with escrow instructions to Escrow Holder heretofore duly executed and delivered to Escrow Holder Escrow, pursuant to the provisions of Business and Professions Code Section 11018.5(a)(2) or 11230 by Subdivider and Association .224 þ not previously been disbursed pursuant to this set-aside letter, shall be paid to the Association or to its order for the purpose þ or from contractors engaged by Subdivider, (b) in reliance upon requests therefor from the Escrow Holder, or (c) in reliance þ In no case will the Escrow Holder or the Association be obligated to repay to us Funds disbursed to the Escrow Holder or the Association pursuant to the provisions of this set-aside letter. þ successors in interest, assigns, and personal representatives of the respective parties. þ Planned Construction Statement, or an extension thereof given in writing by the Association to the Subdivider and assented to in writing by us (223Limitation Period224). þ -ruptcy of the Subdivider, by any stop notice (except a bonded stop notice), tax assessment or levy, attachment, execution or other legal process against Subdivider nor by the breach by Subdivider of any obligations to us. þ Dated: þ þ þ þ þ Issuer222s Name þ þ þ By þ þ þ Name of Person Signing þ þ þ Title of Person Signing þ þ þ Address þ þ þ City, State, & Zip Code American LegalNet, Inc. www.FormsWorkFlow.com