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ZL 2025-0023 SilverRock Resort Zoning Confirmation Ltr 2025-11-05taQat•1'tku CALIFORNIA - November 5, 2025 TBE RE Acquisition Co II LLC Stewart Title of California, Inc. c/o Turnbridge Equities 11870 Pierce St, Ste 100 4 Bryant Park, Suite 200 Riverside, CA 92505 New York, New York 10018 Phone: (951) 276-2700 Attn: General Counsel Fax: (866) 476-8953 Attn. Michael Gazzano Attn: Kaz Bernath, Senior Underwriter Email: jw@turnbridgeeq.com Attn: Shelly Sanchez, Title Officer Email: mg@turnbridgeeq.com Attn: Tamara Castro, Escrow Officer Email: kbernath@stewart.com Email: Sanchezteam@stewart.com Email: tcastro@stewart.com SUBJECT: ZONING CONFIRMATION LETTER 2025-0023 SILVERROCK RESORT (TBE 2025 SilverRock Master Plan) TITLE REPORTS: STEWART TITLE ORDER NO. 2664882 (Phase 1 Property) STEWART TITLE ORDER NO. 2767152 (Phase 2 Property) Dear Ladies and Gentlemen: The City of La Quinta Design and Development Department has received a request to confirm zoning information for the SilverRock Resort Area located at the southwest corner of Avenue 52 and Jefferson Street with the APN's listed below (the "Resort Area"): 770-260-037; 776-150-029, -030; 777-060-008, -010, -011, -019, -020, -062, -070, -071, -072, -074, -075, -078, -079, -080, -081, -082, -083, -084, -085; 777-490-023, -024, -035, -037, -039, -042, -046, -047, -048, -049, -050, -053, -054, -055, -057, -058, -059, -060, - 061, -062, -063, -064, -065, -066, -067, -068, -069, -070, -071, -072, -073, -074, -075, - 076, -077, -078, -079, -080; 777-510-001, -002, -003, -004, -005, -006, -007, -008, -009, -010, -011, -012, -013, -014, -015, -016, -017, -018, -019, -020, -021, -022, -023, -024, - 025; 777-520-001, -002, -003, -004, -005, -006, -007, -008, -009, -010, -011, -012, -013, -014, -015, -016, -017, -018. taQat•1'tku CALIFORNIA - The Resort Area includes the following APNs covering that certain real property referred to as the "Phase 1 Property" currently owned in fee by debtors SilverRock Development Company and affiliated entities as identified in Order No. 2664882 ("Debtors")': 777-060-075, -078, -082, -083, -084, -085; 777-490-037, -042, -046, -053, -054, -055, - 057, -058, -059, -063, -064, -065, -066, -068, -071, -072, -073, -074, -075, -076, -077, - 078, -079, -080; 777-510-001, -002, -003, -004, -005, -006, -007, -008, -009, -010, -011, -012, -013, -014, -015, -016, -017, -018, -019, -020, -021, -022, -023, -025; 777-520-001, -002, -003, -004, -005, -006, -007, -008, -009, -010, -011, -012, -013, -014, -015, -016, - 017, -018. The Resort Area includes the following APNs covering that certain real property referred to as the "Phase 2 Property" currently owned in fee by the City of La Quinta ("City"): 776-150-029, -030; 777-060-070, -071, -072, -074, -079, -080, -081; 777-490-035, -039, -047, -048, -049, -050, -060, -061, -062, -067, -069, -070. The Phase 1 Property and Phase 2 Property are collectively referred to as the "Property." The Property constitutes the vacant and partially improved land that is the location for the SilverRock Resort (2025 SilverRock Master Plan) (the "Project") submitted to the City for review by TBE RE Acquisition Co. II LLC, a subsidiary of Turnbridge Equities ("TBE") and approved by the La Quinta City Council, after a duly notice public hearing, by the following: (i) Resolution No. 2025- 022 [approving Environmental Assessment 2025-0002, Addendum No. 3 to Environmental Assessment 2002-453, for the SilverRock Resort (2025 SilverRock Master Plan) Project]; (ii) Resolution No. 2025-023 [approving the Economic Development Subsidy Report and related agreements and documents for the SilverRock Resort (2025 SilverRock Master Plan) Project]; and (iii) Ordinance No. 626 [adopting Development Agreement (DA) 2025-0001 (Reinstated and Amended Development Agreement 2014-1001) for the SilverRock Resort (2025 SilverRock Master Plan) Project]. Current Zoning The Property is subject to a Specific Plan, SP 2006-080 SilverRock Resort (the "SilverRock Specific Plan" or "SSP")), which is the effective zoning of the Property. The SilverRock Specific Debtors are SilverRock Development Company, LLC and affiliated entities that, on August 5, 2024, filed for voluntary bankruptcy protection under chapter 11 of the U.S. Bankruptcy Code, with case number(s) identified in U.S. Bankruptcy Court for the District of Delaware, with the last four digits of each Debtor's federal tax identification number, as applicable: SilverRock Development Company, LLC (5730), RGC PA 789, LLC (5996), SilverRock Lifestyle Residences, LLC (0721), SilverRock Lodging, LLC (4493), SilverRock Luxury Residences, LLC (6598) and SilverRock Phase I, LLC (2247) (collectively, the "Bankruptcy Lawsuit" in the "Bankruptcy Court"). taQaNtku CALIFORNIA - Plan includes Tourist Commercial and Golf Course zones, which generally allow for the development and use of the Property as a "resort environment." The Tourist Commercial zoning allows for "a four star" hotel, boutique hotels, spas, and other resort -rental and resort -oriented uses, including residential units that may be investor- or individually -owned and rented as part of a hotel and its resort amenities, and including mixed -use resort retail areas with retail, restaurant, and entertainment options as allowable uses (SSP §§ 2.4, 2.4.1). The Golf Course zone allows for golf, open space, and public park uses, which are intended to be integrated throughout the SilverRock Resort Area and with the Tourist Commercial uses (SSP §§ 2.4, 2.4.1). The Specific Plan identifies eight (8) "planning areas," and the actual location and alignment of the land uses and zones in the Specific Plan are diagrammatic, such that the precise layout of the various land uses are ultimately to be determined by the actual alignment and adjacency of each land use category (SSP § 2.2.1). The Specific Plan, therefore, grants flexibility with the ultimate location of development and uses that are permitted within the Tourist Commercial and Golf Course zones. The Specific Plan area is shown on the City's Specific Plan Map at the following weblink- https://www. lag u intaca.gov/home/showpu blisheddocument/48035/638119834122070000 The Specific Plan document is at the following weblink: https://Iaglaserweb.laguintaca.gov/WebLink/DocView.aspx?id=70000&dbid=1 &repo=CityofLaQ uinta The Specific Plan was adopted by the Council on July 18, 2006 via Resolution 2006-083. A link to the resolution is included below: https://Iaglaserweb.laguintaca.gov/WebLink/DocView.aspx?id=25063&dbid=1 &repo=CityofLaQ uinta Other Approvals The Property is subject to the La Quinta City Council approvals, referenced above. Included among those, the SilverRock Resort (2025 SilverRock Master Plan) is subject to Development Agreement (DA) 2025-0001 (Reinstated and Amended Development Agreement 2014-1001) (the "Development Agreement"). Pursuant to California law (Cal. Gov. Code, § 65864 et seq.), the City and TBE may prescribe vis-a-vis said Development Agreement the permitted uses of the property, the density or intensity of use, and, among other provisions, any other differences between the rules, regulations, and official policies governing permitted uses of the Property that would otherwise be applicable to development of the Property (See, Cal. Gov. Code, §§ 65865.2, 65866). Pursuant to California law, said Development Agreement must be approved, and was approved, by noticing and holding a public hearing and by adopting the Development Agreement by ordinance. taQat•1'tku CALIFORNIA - Confirmation of Consistency with Zoning For the reasons elaborated in this letter, the City confirms that the Project on the Property conforms to the City's land use and zoning requirements. Should you have any questions, please feel free to contact me at clflores .laguintaca.gov and/or (760) 777-7067. Sincerely, Cheri Flores Interim Director Design and Development Department cc: John McMillen, La Quinta City Manager (jmcmillen(a-)_laguintaca.gov) William H. Ihrke, Esq., La QuintaCity Attorney (bihrke(ja_rutan.com) Todd Eisner, Esq., DLA Piper, Counsel for TBE (todd.eisner(a)_us.dlapiper.com) Themes Karalis, Esq., DLA Piper, Counsel for TBE (themes.karalis(a�us.dlapiper.com) James Vaughn, Esq., Procopio, Counsel for TBE (james.vaughn(a)-procopio.com) Douglas Wilson, Chief Restructuring Office for Debtors (dwilson(ja_douglaswilson.com) Christopher Sontchi, Independent Manager for Debtors (sontchillc(a-)-gmail.com) Erin Fay, Esq., Wilson Sonsini, Counsel for Debtors (efay(ja�wsgr.com) Catherine Lyons, Esq., Wilson Sonsini, Counsel for Debtors (clyons(a-)-wsgr.com) Susan Bonanno, Esq., Judkins Glatt, Counsel for Debtors (sbonanno(aajgrllp.com)