Affidavit of Legal Interest 2 V105/25/22
FP-2022-0013
UNANIMOUS CONSENT OF
THE SOLE MEMBER
OF
AG EHC II (LEN) MULTI STATE 2, LLC
Dated as of January 7, 2022
The undersigned, being the Sole Member of AG EHC II (LEN) MULTI STATE 2, LLC, a
Delaware limited liability company (the “Company”), does hereby unanimously adopt the following
resolutions and does hereby unanimously consent to the taking of the actions therein set forth:
RESOLVED, that Steven S. Benson, in his capacity as the manager of Essential Housing
Asset Management, LLC, an Arizona limited liability company (the “Authorized Agent”)
be, and hereby is, authorized, empowered and directed to enter into, execute and deliver on
behalf of the Company, any and all documents relating to land bank transactions with
Lennar Corporation, a Delaware corporation, and its respective divisions and subsidiaries
(“Lennar”), including but not limited to (i) Option Agreements (each an “Option
Agreement”); (ii) Construction Agreements (each a “Construction Agreement”), (iii) if
the property is to be land banked is not owned by Lennar, Nomination Agreements (each
a “Nomination Agreement”) pursuant to which Lennar shall assign to the Company the
right to acquire the property from a third party seller at the close of escrow under the
existing underlying acquisition agreement originally negotiated by Lennar as buyer; and
(iv) if the property is already owned by Lennar, Purchase Agreements (each a “Purchase
Agreement”) wherein Lennar is the seller and the Company is the buyer (collectively, the
“Land Bank Documents”), and all other agreements, certificates, documents or
instruments contemplated by or relating to the transactions associated with the acquisition,
platting, development, transfer and sale of the real properties (the “Properties”) which are
the subject of the Land Bank Documents or which are required to be signed by the
Company as contemplated by the underlying purchase agreement with the third party seller.
RESOLVED, that the Authorized Agent, acting alone, be, and hereby is, authorized and
empowered to enter into, execute and deliver on behalf of the Company any and all
amendments to any of the Land Bank Documents, but only on terms and conditions
acceptable to the undersigned (as may be evidenced by electronic mail from Ryan Mollett
or Bryan Rush on behalf of the undersigned).
RESOLVED, that the Authorized Agent, acting alone, on the direction of the undersigned,
be, and hereby is, authorized and empowered for, on behalf and in the name of the
Company, to execute and deliver: (i) any and all plats, maps, permits, applications for
permits or other development matters, certificates, tax filings, tax license forms,
agreements, documents, annexation agreements, development agreements,
intergovernmental agreements and other instruments, and (ii) all documents and
instruments and filings necessary in connection with the sale of land in the jurisdictions in
which the Properties are located or which are necessary or which the Authorized Agent, in
consultation with the undersigned, may determine to be advisable or expedient in
connection with the foregoing (or as may be required by any municipality or utility
provider or by any escrow agent handling, or title insurer involved with, the closing of the
05/25/22
FP-2022-0013
05/25/22
FP-2022-0013