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05.21.2026 City Council Packet
AMMON CITY COUNCIL MEETING May 21, 2026 - 6:00 pm Ammon City Hall 2135 S Ammon Road, Ammon, ID 83406 PUBLIC COMMENT AGENDA CALL TO ORDER: -Mayor Brian Powell at 6:00 p.m. -Pledge of Allegiance – Council Member Boyle -Prayer – Council Member Wheeler CONSENT AGENDA: 1.Accounts Payable Report: Exhibit A 2.Minutes: May 07 and 14, 2026 – Regular Meetings - Page 2 PROCLAMATIONS: 1.National Public Works Week Proclamation- May 17-23, 2026 PUBLIC COMMENT REGARDING ITEMS NOT ON AGENDA (3-minute limit) ACTION ITEMS: 1.Consideration of a Contract with Entry Point for Fiber Optic Devices - (Bryan Bankhead, Fiber Optics Director) 2.Consideration of a Contract for Service with the Bonneville County Fire District No. 1 - (Jon Molbert, Fire Chief) 3.Consideration of the Water Mitigation Agreement with the City of Pocatello - (Micah Austin, City Administrator) 4.Approval of Resolution 2026-011, Surplus of City Property for Public Auction, Target Park - - (Micah Austin, City Administrator) DISCUSSION ITEMS: 1.Greater Idaho Falls Transit (GIFT) service 2.Miscellaneous ADJOURN The following guidelines for public comment have been adopted: 1. Before an individual may be heard, the Mayor, Council President, or Commission Chair must recognize them. 2. Individuals recognized for comment shall provide their name and address for the record. Individuals must utilize the podium at the front of the room and not speak from their seat. 3. Individuals must direct comments to the Commission or Council, not other individuals within the room. Individuals must limit comments to three (3) minutes or less. 4. Individuals must avoid repetitious comments or ideas that have already been presented. 5. All comments shall be made courteously, respectfully, and civilly. Inflammatory, disrespectful, degrading statements, heckling, applause, or obscene or indecent language will not be tolerated. Individuals that violate these guidelines may be asked to leave the meeting. UPCOMING - June 4, 2026, Work Session - June 11, 2026, CANCELLED - June 18, 2026, City Council ACCESS TO MEETINGS MEETINGS WILL BE AVAILABLE VIA ZOOM: - http://zoom.cityofammon.us/ - Meeting ID: 208 612 4000 - Passcode: 26666 INDIVIDUALS NEEDING ACCOMMODATION DUE TO DISABILITY MUST CONTACT CITY HALL NO LATER THAN 1:00 P.M. THE DAY BEFORE THE SCHEDULED MEETING TO ARRANGE ASSISTANCE Next Resolution Number: 2026-012; Next Ordinance Number: 748 Page 1 of 178 - Page 13 - Page 14 - Page 33 - Page 40 - Page 53 AMMON CITY COUNCIL MINUTES THURSDAY, May 07, 2026 – 6:00 P.M. 2135 SOUTH AMMON ROAD AGENDA CALL TO ORDER: -Mayor Brian Powell at 6:00 p.m. -Pledge of Allegiance – Council Member Hamberlin -Prayer – Council Member Boyle CONSENT AGENDA: 1.Accounts Payable Report: Exhibit A 2.Minutes: April 16, 2026 – Regular Meetings PROCLAMATIONS: 1.Tennis Proclamation PUBLIC COMMENT REGARDING ITEMS NOT ON AGENDA (3-minute limit) ACTION ITEMS: 1.Request from Bonneville County Fire District to Repurpose Proceeds from the sale of Apparatus - (Jon Molbert, Fire Chief) 2.Resolution 2026-009 Declaring Surplus Equipment - (Micah Austin, City Administrator) 3.Resolution 2026-010 Personnel Policy Manual Update - (April Tracy, HR Director) 4.Consideration of On-Call Engineering Roster Contracts - (Micah Austin, City Administrator) 5.Consideration of On-Call Surveying Contract - (Micah Austin, City Administrator) 6.Consideration of an Amendment to the Blue Mountain Storage Development Agreement - (Cindy Donovan, City Planner) 7.Findings of Facts and Conclusion of Law for Rezoning of Target Park - (Cindy Donovan, City Planner) 8.Ordinance 747-Rezoning of City-owned Target Park - (Cindy Donovan, City Planner) DISCUSSION ITEMS: 1.Miscellaneous ADJOURN MINUTES Ammon City Council Regular Meeting 05.07.2026 Page 1 of 7 Page 2 of 178 City Officials Present: Mayor Brian Powell Council President Scott Wessel Councilmember Nolan Wheeler Councilmember Kris Oswald Councilmember Heidi Boyle Councilmember Sid Hamberlin City Attorney Scott Hall City Administrator Micah Austin City Clerk Joanna Dahm City Planner Cindy Donovan HR Director April Tracy Code Enforcement Director Clarissa Jones City Officials Absent: Councilmember Jeff Fullmer CALL TO ORDER: Mayor Brian Powell called the meeting to order at 6:00 p.m. Council Member Hamberlin led the pledge of allegiance and Council Member Boyle gave a prayer. CONSENT AGENDA: 1.Accounts Payable Report: Exhibit A 2.Minutes: April 16, 2026 – Regular Meetings It was moved by Council Member Boyle and seconded by Council President Wessel to approve the Consent Agenda Wheeler, yes; Oswald, yes; Wessel, yes; Boyle, yes; Fullmer, absent; Hamberlin, yes. Motion passes unanimously with vote by roll call. PROCLAMATIONS: 1.Tennis Proclamation May 2026 as National Tennis Month- Jenny Boozer- addressed the Council and audience to let everyone know about Red Ball which is new this year. It is Tennis but redefined. No formal courts, no strict rules, just high energy. She also discussed the upcoming event on May 29th at Hillcrest Highschool. Melaine also talked about other events coming up. PUBLIC COMMENT: Bobbie Romander- 3020 E. 17th Street- Came before the Council to request businesses that are within City limits of Ammon to receive a discount when applying for a Solicitor’s License to go door to door. Mr. Romander came before a couple years ago but the council never voted on it, it was shut down. He stated he feels since he pays property taxes here he should have to pay the same for a solicitor’s license as a business from outside of Ammon or even some that come from out of state. He wants a justifiable reason why Ammon businesses can’t pay less. He asked why the City of Ammon can’t charge less and require a surety bond. Mayor Powell asked City Administrator Austin and City Clerk Dahm if they can help, the fees that are paid cover the background check and the fingerprinting. We have a business licensing system that is paid for through those funds collected. He stated the tax payers shouldn’t be covering the costs. Mr. Romander stated it's frustrating that he is treated the same as someone who comes from other places and doesn’t employ people in Ammon or pay property taxes. City Administrator Austin stated first of all the Ammon residents love our rules. They don’t want more door knockers. He stated we get complaints all the time. City Administrator Austin asked City Clerk Dahm how many people we have licensed right now in the City of Ammon, she stated there are six. City Administrator Austin stated this policy works. Mayor Powell Ammon City Council Regular Meeting 05.07.2026 Page 2 of 7 Page 3 of 178 stated we did our fee resolution in the spring and this would have to be part of the fee resolution we look at twice a year. We would need to look at it in the fall. City Attorney Scott Hall stated we don’t do surety bonds because it cost way more than $1,000 to collect on them. He stated it takes hours fighting with insurance companies trying to get them to pay. City Clerk Joanna Dahm addressed the City Council to clarify that no matter where the business resides they are required to get a General Business License, then get a solicitor’s permit for each employee going door to door. She stated the $500 helps cover the cost of our business license software as well as the calls made to the Sheriff’s Department. She stated that within the last week she had to call Sheriff Miller four or five times to go check on a solicitor, which costs extra for deputies to be sent out on those calls. It is helping cover the city costs and sheriff’s department costs. City Clerk Dahm stated she did do research with other cities in the spring when we did our fee resolution and other cities are looking at upping their fees due to the amount of solicitors in their areas, she also stated other cities have had issues on collecting from surety bonds. ACTION ITEMS: 1.Request from Bonneville County Fire District to Repurpose Proceeds from the sale of Apparatus - (Jon Molbert, Fire Chief) Chief Molbert explains to the council what an apparatus is. He stated he came before the council to discuss the $20,000 that the City received from the North Fremont Fire Department who purchased the sold apparatus. He requests that we reinvest the money received from the sale into new Wildland PPE equipment. We are in for a hard fire season this year with the lack of moisture. This equipment allows us to provide better service. This equipment is old, they don’t technically expire, they reach their end of life when they are ruined due to burns or tears. Some of this gear is 25 years old. Fire Chief Molbert stated we have a great relationship with the City of Ammon and would like to continue the relationship. Council President Wessel asked how big the Fire District #1 is. Fire Chief Molbert stated it is 322 square miles. Council President Wessel asked Chief Molbert if he had gone to other cities in the district and asked for money. Chief Molbert stated that he didn’t ask them because this is just dealing with the $20,000 the City received from the sale of the apparatus. Council President Wessel asked if the Fire District has the budget to replace the PPE. Chief Molbert stated yes they could but he feels the $20,000 would help for the purchase. Council President Wessel stated the City of Ammon is in a budget crunch. He is having a hard time giving them $20,000 when they have the budget to replace them. Council President stated the agreement states if you wear it out you have to replace it, not the City. Chief Molbert understands Council President Wessel’s concerns, he thinks they are valid. Chief Molbert feels it's a good opportunity to reinvest the money. Council Member Boyle asked about the fire department fund. What will that money be used for? City Administrator Austin stated that money was intended in case the Fire District wasn’t successful and the City of Ammon could stand up a Fire Department. Council Member Oswald stated she is torn, the city needs the money however, we should be good neighbors. Chief Molbert stated he completely understands. The Department runs lean and they have a tight budget as well. Council Member Boyle stated ultimately it has an effect on our citizens and our community. Council President asked if we have wildland in the City of Ammon, Chief Molbert Ammon City Council Regular Meeting 05.07.2026 Page 3 of 7 Page 4 of 178 stated we have an immense amount of Urban Interface. The City is surrounded by Wildland. We have a lot of high risk areas. If we don’t have the equipment to match the fires we are not doing our best. Chief Molbert stated yes he asked for the $20,000 upfront but he doesn’t want to be greedy and he would be happy to take less. It was moved by Council Member Hamberlin and seconded by Council Member Boyle to table to repurpose proceeds from the sale of Apparatus to discuss until the next worksession. Wheeler, yes; Oswald, yes; Wessel, yes; Boyle, yes; Fullmer, absent; Hamberlin, yes. Motion passes unanimously with vote by roll call. 2.Resolution 2026-009 Declaring Surplus Equipment - (Micah Austin, City Administrator) It was moved by Council Member Oswald and seconded by Council Member Wheeler to approve Resolution 2026-009 Declaring Surplus Equipment Wheeler, yes; Oswald, yes; Wessel, yes; Boyle, yes; Fullmer, absent; Hamberlin, yes. Motion passes unanimously with vote by roll call. 3.Resolution 2026-010 Personnel Policy Manual Update - (April Tracy, HR Director) HR Director April Tracy addressed the Council stating the need to update the Personnel Policy to include the Certification Pay Policy as presented at the previous meeting and adding an updated Nepotism policy. This policy is to address related personnel working in the same departments and supervising each other. She stated this policy would not allow related individuals to work in the same department, except if they are seasonal they can work together however, not supervise each other. The policy would not be retroactive to those already employed by the city. Council Member Boyle stated that the City of Ammon is small enough and we have a small working pool. She feels we should remove the seasonal part totally from the policy. She feels we will back ourselves into a corner, we want to keep Ammon people employed in Ammon. Council Member Boyle feels that with seasonal employees this shouldn’t be an issue. HR Director Tracy stated seasonal employees are in charge of a lot of important things just the same as part time and full time employees. HR Director Tracy stated there can be conflicts of interest when related individuals work together, problems have risen and this needs to be addressed. City Administrator Austin stated we haven’t hired our seasonal employees yet. That is why this is so important. We haven’t had issues to this point that we could have, but they could come up. The council should think about that a lot of seasonal positions start seasonal, but then become part time then full time. When do you implement that policy. He supports the carve out for seasonal and allow them to work together, however, not supervising each other. Council Member Oswald stated this was discussed at the AIC meeting two weeks ago, and how important avoiding Nepotism is. HR Director Tracy stated that we are growing and have more of a chance of these things happening and creating problems. Mayor Powell stated we can’t think of us as a small employer anymore, during the summer we employ over 100 employees. Ammon City Council Regular Meeting 05.07.2026 Page 4 of 7 Page 5 of 178 Emily Dallimore - addressed the council stating that she feels this policy is not needed. She hasn’t seen a conflict. The pool lifeguards are like a family. We are there to keep people safe. Emily stated she had a plan for her summer job and the timing of this is bad because it is almost summer, there are limited summer jobs and her plan would be jeopardized with this policy. This would be very heartbreaking. She doesn’t feel she and others should be punished and have their opportunities taken away. HR Director Tracy stated she feels she is presenting the very best policy she can. She is open to suggestions but isn’t sure how to make it better. Isaac Dallimore - addressed the Council stating he agrees with April and has seen issues with Nepotism. He just asks that it not apply to head guards. He stated his responsibility as a head guard to be a good example and make sure things are being done properly. He stated he doesn’t have anything to do with employees, such as write ups and such. Rebecca Osai - HR Specialist stated there is another instance with seasonal employees, she asks how the council would feel about full time employees supervising seasonal employees they are related to. If we take out the seasonal employees portion it impacts that as well in the policy. Travis Dallimore - stated he feels that the timing of the policy is horrible and most seasonal jobs have been taken and these kids planned on these jobs. Council President Wessel moved to approve employee certification pay policy as presented and not to include the new Nepotism Policy. Motion died Council Member Boyle moved to approve resolution 2026-010 amending the personnel policy as presented removing the seasonal employee portion of the nepotism policy and Council Member Wheeler seconded the motion. Wheeler, yes; Oswald, yes; Wessel, no; Boyle, yes; Fullmer, absent; Hamberlin, no. Motion passes unanimously with vote by roll call. 4.Consideration of On-Call Engineering Roster Contracts - (Micah Austin, City Administrator) It was moved by Council Member Boyle and seconded by Council Member Hamberlin to approve the On-Call Engineering Roster Contracts Wheeler, yes; Oswald, yes; Wessel, yes; Boyle, yes; Fullmer, absent; Hamberlin, yes. Motion passes unanimously with vote by roll call. 5.Consideration of On-Call Surveying Contract - (Micah Austin, City Administrator) It was moved by Council Member Wheeler and seconded by Council Member Oswald to move forward On-Call Surveying Contract Wheeler, yes; Oswald, yes; Wessel, yes; Boyle, yes; Fullmer, absent; Hamberlin, yes. Motion passes unanimously with vote by roll call. Ammon City Council Regular Meeting 05.07.2026 Page 5 of 7 Page 6 of 178 6.Consideration of an Amendment to the Blue Mountain Storage Development Agreement - (Cindy Donovan, City Planner) Todd Brewington- Blue Mountain Storage - concerned about the cost of moving the ditch which was placed where the city directed them to place it previously. The costs can range between $19,000 and $50,000. There are also challenges with the widening of the road and the sidewalk. We are just asking for more time to accomplish these. It was moved by Council Member Boyle and seconded by Council Member Oswald to approve amendment to the Blue Mountain Storage Development Agreement and the City of Ammon incurring the cost to move the ditch Wheeler, yes; Oswald, yes; Wessel, yes; Boyle, yes; Fullmer, absent; Hamberlin, yes. Motion passes unanimously with vote by roll call. 7.Findings of Facts and Conclusion of Law for Rezoning of Target Park - (Cindy Donovan, City Planner) It was moved by Council Member Wessel and seconded by Council Member Oswald to accept the Findings of Facts and Conclusion of Law for Rezoning of Target Park Wheeler, yes; Oswald, yes; Wessel, yes; Boyle, yes; Fullmer, absent; Hamberlin, yes. Motion passes unanimously with vote by roll call. 8.Ordinance 747-Rezoning of City-owned Target Park - (Cindy Donovan, City Planner) It was moved by Council Member Boyle and seconded by Council President Wessel to to dispense with the rule requiring the reading of the ordinance on three different days and that the three readings be waived. Wheeler, yes; Oswald, yes; Wessel, yes; Boyle, yes; Fullmer, absent; Hamberlin, yes. Motion passes unanimously with vote by roll call. It was moved by Council Member Boyle and seconded by Council President Wessel to approve Ordinance 747-Rezoning of City-owned Target Park Wheeler, yes; Oswald, yes; Wessel, yes; Boyle, yes; Fullmer, absent; Hamberlin, yes. Motion passes unanimously with vote by roll call. DISCUSSION ITEMS: 1.Miscellaneous Council Member Boyle - went to the public library and watched City Clerk Joanna Dahm read to the kids. The library is looking great and has a lot of resources. Mayor Powell - There is a Civics Bee, a spelling bee at the end of the month on Friday the 29th. Mayor Powell cannot attend, so if anyone on the Council could attend and be a judge please let me know. AIC conference the 2nd week of June if anyone else wants to attend. Ammon City Council Regular Meeting 05.07.2026 Page 6 of 7 Page 7 of 178 Council Member Oswald - received a request for a 4th of July parade from a community member. City Administrator Austin stated if the Chamber wants to do that, that would be great, but it is a civic event, the city should not take it on. Council Member Wheeler - Judy and Summerwood Lane there is a little section that is torn up where it intersects. City Planner Donovan stated that the Streets Division Director mentioned that early this week. City Attorney Scott Hall - be cautious when people send you land use planning emails, do not engage or respond. City Administrator Micah Austin - The city signed up to be a member of the IAEC, the cost was $500. It's the Idaho energy group that is moving energy forward. There was a presentation at the AIC meeting a few weeks ago. It's the consortium of atomic energy. It’s good for Ammon to be at the table. City Planner Donovan - stated that now that we have a surveying contract the first thing that is going to be asked for them to do is survey the Target Park so we can maintain our right-of-way. Mayor Powell asked if we have received the appraisal back, City Administrator Austin stated no we are still waiting. Council President Wessel made a motion to adjourn the meeting ADJOURN at 9:18 pm ______________________________ Brian Powell, Mayor ______________________________ Joanna Dahm, City Clerk Ammon City Council Regular Meeting 05.07.2026 Page 7 of 7 Page 8 of 178 AMMON CITY COUNCIL MINUTES THURSDAY, MAY 14, 2026 – 4:30 P.M. 2135 SOUTH AMMON ROAD AGENDA CALL TO ORDER: -Mayor Brian Powell at 4:30 p.m. DISCUSSION ITEMS: 1.Strategic Plan Overview - (Micah Austin, City Administrator) 2.Traffic Cameras - (Lt. Fielding, Bonneville County Sheriff) 3.Fire Department Reserve - (Fire Chief Jon Molbert - Bonneville County Fire District #1) Executive Session: 1.Pursuant to Idaho Code 74-206 (a), (b) and (c): a) To consider hiring a public officer, employee, staff member or individual agent, wherein the respective qualities of individuals are to be evaluated in order to fill a particular vacancy or need. This paragraph does not apply to filling a vacancy in an elective office or deliberations about staffing needs in general; (b) To consider the evaluation, dismissal or disciplining of, or to hear complaints or charges brought against, a public officer, employee, staff member or individual agent, or public school student; (c) To acquire an interest in real property not owned by a public agency; ADJOURN MINUTES City Officials Present: Mayor Brian Powell Council President Scott Wessel Councilmember Kris Oswald Councilmember Heidi Boyle Councilmember Jeff Fullmer- (via Zoom) Councilmember Sid Hamberlin City Attorney Scott Hall City Administrator Micah Austin City Clerk Joanna Dahm City Planner Cindy Donovan City Engineer Morgan Stewart City Officials Absent: Councilmember Nolan Wheeler CALL TO ORDER: Mayor Brian Powell called the meeting to order at 4:30 p.m. Ammon City Council Regular Meeting 05.14.2026 Page 1 of 4 Page 9 of 178 DISCUSSION ITEMS: 1.Strategic Plan Overview - (Micah Austin, City Administrator)- Micah Austin, City Administrator led the conversion by briefly going over the final three points on the strategic plan. #6 Environmentally Responsible Community, #7 Digital Infrastructure, Innovation, and Utility Modernization, and #8 Public Outreach/Involvement. 2.Traffic Cameras - (Lt Fielding, Bonneville County Sheriff)- Lt Josh Fielding presented to the City Council by sharing a slide show describing the Flock system, how it operates, the information it can detect, and explained that the information is owned by the Sheriff’s Department not Flock and is not shared unless they specifically allow access by another police jurisdiction. The cameras detect license plates, color, make and model of vehicles. It doesn’t have facial recognition. The system information is stored for only 30 days. The information cannot be accessed unless it is for a criminal investigation. President Wessel asked Lt Fielding if he could define what a bundle is. Lt Fielding explained that a bundle has the license plate detector and the live feed camera. They are fixed on a pole and pointed towards traffic going away from the camera to catch the rear license plate. Sheriff Holtz stated that the system tracks who accesses it and the information that they searched. The search has to tie to an investigation. It cannot be accessed to simply search or track random vehicles. Mayor Powell asked City Attorney Scott Hall if there are any issues with these being in the City’s right-of-way, City Attorney Scott Hall stated no you can put what you wish in your right-of-way. Council President Wessel asked if the Sheriff’s Department proposed using them county wide. Lt Fielding stated they will be deployed in the county. The City of Idaho Falls already uses the Flock system. Council President Wessel asked if the Sheriffs Department is covering the cost or if they will be asking the City of Ammon to subsidize. Sheriff Holtz stated the Sheriff’s Department implemented the system because they feel like it is the right thing to do and is a valuable tool. The Sheriff’s Department is able to handle the cost of the system. The Sheriff’s Department is asking the City of Ammon for a right-of-way permit. The Sheriff’s Department is also going to be utilizing a live camera for custody exchanges, as a safe exchange location. This is an added safety feature. The safe exchange locations have been very popular. Council Member Boyle asked how many bundles will be in Ammon. Lt Fielding stated there will be bundles located at Chasewood and Curlew, Sunnyside and Ammon, John Adams Parkway and South Curlew at the round-a-bout. We are trying to deploy them on the outskirts where they will enter or exit the city limits. If cameras need to be moved, Flock will come out and move them for free. 3.Fire Department Reserve - (Fire Chief Jon Molbert - Bonneville County Fire District #1)- Fire Chief Molbert addressed the City Council to revisit the request for the $20,000 from the sale of the surplus Fire Apparatus, to reinvest into Wildland PPE. Chief Molbert stated that the funds were originally the Fire Department funds and feels the money should be reinvested. He stated we are going into a tremendous fire season and feels the new wildland PPE would serve the Ammon community well. Ammon City Council Regular Meeting 05.14.2026 Page 2 of 4 Page 10 of 178 Fire Chief Molbert believes the apparatus that sold the City of Ammon did not originally pay for. It was received through grants or given to the Fire Department. Council President Wessel stated the City of Ammon maintained it for years. Chief Molbert stated that yes that is correct and the Fire District has maintained it since. Council President Scott Wessel referred to the contract between the Fire District and the City of Ammon. He pointed out section 3, then read it outloud. He then referred to the list included in the agreement which specifies the Wildland PPE. Council President Wessel stated that we are not interested in modifying the contract. Chief Molbert stated he is not requesting to modify the contract. He feels at the time the contract was agreed upon it is not all inclusive of everything the Fire District does. The Fire District does Ammon Days, the Bonfire, and many other events. The Fire District makes it available as available as the City and staff need them. Fire District Commissioner Dana Kirkham stated what Chief Molbert is trying to state is that the Fire District provides services to the City of Ammon that they do not charge the City for. She stated the City decided to join the Fire District to provide services to the citizens of Ammon. She stated we can start charging if that is what the city would like. Mayor Powell stated he keeps hearing we and you, aren’t we all together. Council Member Boyle stated not the whole council feels the same as Council President Wessel. Fire Chief Molbert states we should work as we and until now the City and Fire District has been working together. Council President Wessel asked if we could do a contract for services for $20,000. Commissioner Kirkham stated she feels the current agreement doesn’t serve the City of Ammon as it should. There are issues that need to be worked out. Mayor Powell stated it is an all encompassing issue, we need to talk about the money in the reserve account as well as other issues. Mayor Powell stated we are either all in or not. He has enjoyed the service as a resident. How do we want to move forward? Commissioner Kirkham stated we would prefer to work together, the City is receiving services for far less money then when they were covering their own Fire Department out of the General Fund. Commissioner Kirkham wants to request to be on a worksession to discuss things as a whole, where we go from here and how we serve the community. She stated the City of Ammon is not receiving the level of service as the rest of those in the District. She stated the council at the time didn’t request that. She stated all those in the county pay the same. City Administrator Micah Austin stated that the Fire District has done excellent work and appreciates the level of service as it is better then what we had before or what the City could have done. Commissioner Kirkham stated there are some things that are not as clear as they should be such as the lease of the building. City Administrator Micah Austin stated that when this came about it was an experiment. We didn’t know how it was going to go. Things were written as temporary and that the Fire District could dissolve within the three months. Commissioner Kirkham stated she feels this agreement doesn’t represent Ammon citizens as well as it should City Administrator Austin will send over the template for Contract for Services for the request of the $20,000 to the Fire District to fill out. The Council agreed to have this top on the next Council meeting as an Action Item. Ammon City Council Regular Meeting 05.14.2026 Page 3 of 4 Page 11 of 178 Council President Scott Wessel made a motion to move to executive session at 6:29 pm ADJOURN at 7:24 pm ______________________________ Brian Powell, Mayor ______________________________ Joanna Dahm, City Clerk Ammon City Council Regular Meeting 05.14.2026 Page 4 of 4 Page 12 of 178 PROCLAMATION National Public Works Week Proclamation Whereas, public works professionals focus on infrastructure, facilities, and services that are of vital importance to sustainable and resilient communities and to public health, high quality of life, and well-being of the people of Ammon; and, Whereas, these infrastructure, facilities, and services could not be provided without the dedicated efforts of public works professionals, who are engineers, managers, and employees at all levels of government and the private sector, who are responsible for rebuilding, improving, and protecting our nation’s transportation, water supply, water treatment and solid waste systems, public buildings, and other structures and facilities essential for our citizens; and, Whereas, it is in the public interest for the citizens, civic leaders, and children in Ammon to gain knowledge of and maintain an ongoing interest and understanding of the importance of public works and public works programs in their respective communities; and, Whereas, the year 2026 marks the 66th annual National Public Works Week sponsored by the American Public Works Association, be it now, Now, Therefore I, Brian Powell, Mayor of Ammon, do hereby designate the week of May 17–23, 2026, as National Public Works Week. I urge all citizens to join with representatives of the American Public Works Association and government agencies in activities, events, and ceremonies designed to pay tribute to our public works professionals, engineers, managers, and employees, and to recognize the substantial contributions they make to protecting our national health, safety, and advancing quality of life for all. PROCLAIMED AND SIGNED this 21th Day of May 2026 ________________________________ Brian Powell, Mayor ________________________________ Joanna Dahm, City Clerk Page 13 of 178 Date:5/21/2026 To:Mayor Powell and City Council Presenting:Bryan Bankhead - Interim Fiber Optic Director Subject:Staff Report regarding the City of Ammon / EntryPoint - General SaaS Agreement Approval of City of Ammon / EntryPoint - General Subscription and Services Agreement: Staff Recommendation -Recommends Accepting and signing this agreement. Summary of Analysis 1.The contract establishes the terms under which EntryPoint provides its proprietary Software as a Service (SaaS) platform, and optional custom Professional Services to the city. 2.SaaS Platform Suite: ●The licensed platform consists of three core elements: FlowOps Network Management, Authentication & Automation, Operator Portals, and the FlowOps VBG (Virtual Broadband Gateway). ●Hybrid Architecture i.Active Ethernet & XGS PON. ii.Will allow for future growth of the software and network to the end user (1gb, 2.5gb, 5gb, and even 10gb Internet speeds). 3.Agreement Term: ●The contract is structured with a standard 12-month initial term that transitions into automatic annual renewals , but gives the City of Ammon significant leverage via a convenience termination clause and a highly protective software continuity clause. Financial Impact -Subscription Fees: o Subscription costs are billed monthly in arrears on a per-Active-User-Account basis. The cost is fixed at $1.00 per month for the legacy platform and shifts to $2.00 per month once the city officially accepts and approves EntryPoint's new software platform. -Professional Services Fee: o Extra consulting (optional), network planning, or system integration services are billed at a rate of $250.00 per hour. -Hardware upgrading to new environment: o Switching (Hybrid Environment) o VBG’s - $80 Motion “I move to approve the Agreement from Entry Point and authorize the mayor to sign this contract for services.” Attachments: 1.EntryPoint Networks - General Subscription and Service Agreement - 05 01 2026.pdf 2135 South Ammon Rd., Ammon, Idaho 83406 City Hall: (208) 612-4000 www.cityofammon.us Page | 1 Page 14 of 178 GENERAL SUBSCRIPTION AND SERVICES AGREEMENT This General Subscription and Services Agreement (“Agreement”) is dated for reference as of [Click for date], between EntryPoint Networks, Inc., a Delaware Corporation (“EntryPoint”) and City of Ammon City of Ammon, an Idaho [Click to choose legal entity type] (“Customer”). A.EntryPoint is the developer and owner of certain Licensed Software and Documentation that is made available as a Service, bundled with maintenance, support, equipment, and other services; and B.Customer wants to pay for and use EntryPoint’s SaaS Platform and/or NOC Services and/or Billing Services, and EntryPoint wants to make the Platform and Services available to Customer in accordance with this Agreement. C.Customer may desire to have EntryPoint provide Professional Services, if purchased in connection with the other Services. The parties therefore agree as follows: 1.DEFINITIONS. Capitalized words and phrases not defined herein have the meaning set forth in Schedule A hereto, which is made a part of this Agreement. 2.SOFTWARE AS A SERVICE (SaaS). 2.1. Use Rights. During the Term, and conditioned upon payment of the applicable Fees, EntryPoint shall make the SaaS Platform available to Customer in accordance with this Agreement and the applicable Documentation. In furtherance of the foregoing, EntryPoint grants to Customer a limited, non-exclusive, non-transferable, non-sublicensable, revocable right to (a) install and use one copy of the Licensed Software and any Maintenance Release in Customer’s Data Center in the ordinary course of its business operations; (b) use the Documentation; (c) use the Software for Customer’s own network management; (d) permit Customer’s Users to use the Services; and (e) reproduce EntryPoint’s marks and logos in promoting the authorized use of the Services. The foregoing rights are limited to use by those Users for which Customer has paid the SaaS Fees. In addition to the foregoing, EntryPoint authorizes Customer to modify or customize any Screen using the EntryPoint API, subject to compliance with the EntryPoint API Terms. EntryPoint reserves all other rights, including any Intellectual Property Rights, not expressly granted. 2.2. Use Policies. Customers shall, and will ensure that its Users, use the Services only in compliance with the Acceptable Use Policy, a copy of which is set forth in Schedule B hereto, which is made a part of this Agreement. Customer may publish a copy of the Acceptable Use Policy on its own website and may add other reasonable terms, provided that those terms do not substantially limit or restrict the terms required by this Agreement. 2.3. Maintenance. During the Term, EntryPoint shall provide Customer with all Maintenance Releases, including updated Documentation, that EntryPoint may, in its discretion, make generally available to other customers at no additional charge. Maintenance Releases, upon being provided by EntryPoint to Customer, are deemed Licensed Software and made a part of the SaaS Platform, subject to this Agreement. EntryPoint shall provide Customer with Maintenance Release documentation as a part of delivery and installation. Customer may upgrade to any New Edition that EntryPoint makes generally available to its other customers at EntryPoint’s then-current list price and subject to an amendment to the Pricing Attachment, on the condition that there is no Default under this Agreement. 2.4. Restrictions. Customer shall not, and will ensure that its Users do not, directly or indirectly: (a) make the SaaS Platform available to anyone other than its Users; (b) copy the SaaS Platform, in whole or in part; (c) modify, correct, adapt, translate, enhance, or otherwise prepare derivative works or improvements of the SaaS Platform; (d) violate the EntryPoint API Terms; (e) rent, lease, lend, sell, sublicense, assign, share, distribute, publish, grant a security interest Page 15 of 178 in, or otherwise transfer Customer’s right in as set forth in this Agreement; (f) reverse engineer, disassemble, decompile, decode, or adapt the SaaS Platform, or otherwise attempt to derive or gain access to the Source Code of the Licensed Software, in whole or in part, or attempt to discover the underlying structure, ideas, or algorithms that comprise the SaaS Platform; (g) bypass or breach any security device or protection used for or contained in the SaaS Platform; (h) remove, delete, efface, alter, obscure, translate, combine, supplement, or otherwise change any trademarks, terms of the Documentation, warranties, disclaimers, Intellectual Property Rights, proprietary rights, or other symbols, legends, notices, marks, or serial numbers on or relating to any copy of the Licensed Software or the SaaS Platform; (i) use the SaaS Platform in any manner or for any purpose that infringes, misappropriates, or otherwise violates any Intellectual Property Right or other right of any Person, or that violates any Applicable Law; (j) use the SaaS Platform for purposes of: (i) scanning, benchmarking, or competitive analysis of platform services, (ii) developing, using, or providing a competing software, subscription, or service, or (iii) any other purpose that is to EntryPoint’s detriment or commercial disadvantage; or (k) use the SaaS Platform in any manner or for any purpose or application not expressly permitted by this Agreement. 2.5. Customer Data. EntryPoint may, but has no obligation to, monitor the content processed through the SaaS Platform including, without limitation, User Data. Customer owns all rights, title, and interest in the Customer’s Data or otherwise has the right to use the Customer’s Data in connection with the Services. Customer may give EntryPoint access to User Data to improve the Services or otherwise as necessary for EntryPoint to perform its obligations under this Agreement. 3.NETWORK OPERATIONS CENTER (NOC) SERVICES 3.1 During the term of this Agreement, EntryPoint agrees to provide remote monitoring of the network on a 24/7 basis from its distributed NOC when purchased by Customer as specified in a separately executed pricing attachment for NOC services. NOC services include device monitoring, outage notifications, configuration of devices, diagnostics, repair dispatch, and other services as generally provided by the NOC as set forth in the currently adopted EntryPoint NOC Service Level Agreement. 4.BILLING SERVICES 4.1 EntryPoint’s Billing Services involves the managing and processing of financial transactions between the Customer or network operator and network subscribers and/or service providers. Billing services include the creation and distribution of invoices, the processing of payments, the management of customer billing accounts, and the tracking of network operator revenues. Key features of EntryPoint’s billing services include automated invoicing, online payment processing, integration with EntryPoint’s subscription management, and the ability to generate customized reports and analytics. 4.1.1 Invoicing Service. EntryPoint’s Billing Service included invoice generation. Invoice Service is designed to automate the creation, sending, tracking, and management of invoices, thereby simplifying the Client's billing processes. Automatic invoicing for recurring payments is included. The system allows for prompt invoice dispatch via email or other digital methods preferred by the Client's customers. It also maintains a record of all invoices sent, providing a clear audit trail for both the Client and their customers. EntryPoint will continuously maintain, update, and improve the Invoice Service as part of its commitment to provide the best possible service to the Client. However, the specific features and functionalities of the Invoice Service may evolve over time, and the Provider reserves the right to modify, add or remove features, in its sole discretion, in response to changes in technology, legal requirements, or market conditions. 4.1.2 Payment Processing Service. The Payment Service supports recurring billing for subscription-based business models. It can automatically charge customers at specified intervals, providing a convenient way for the Client to manage recurring revenue. The system generates real-time notifications and reports for each transaction, enabling the Client to track payments, manage refunds, and handle disputes effectively. It provides comprehensive transaction records, facilitating easier financial management and auditing. EntryPoint will regularly maintain, update, and enhance the Payment Service to ensure it meets evolving payment processing needs, technological advancements, and regulatory changes. However, the Provider reserves the right to make modifications to the Payment Service, including the addition or removal of features or integrations, at its sole discretion. 5.PROFESSIONAL SERVICES Page 2 of 11 Page 16 of 178 EntryPoint Professional Services are designed to assist Customer with all aspects of network planning, network deployment, community engagement, subscriber onboarding, and/or systems and API integration development. 6.DUTIES OF CUSTOMER 6.1. Contacts. Customer shall designate one or more point of contact(s) for administrative, accounting, and technical interactions. 6.2. Compliance. Customer shall use the SaaS Platform in compliance with Applicable Law and this Agreement. 6.3. Branding. As a condition to modifying or customizing any Screen using the EntryPoint API, Customer shall comply with the EntryPoint API Terms, including, without limitation, the branding requirement that requires on each Screen modified or customized using the EntryPoint API the following phrase “Powered by – EntryPoint Networks” in typography specified by EntryPoint. 6.4. Credentials; User Access. Customer is responsible for use of the SaaS Platform by Users and any Person who accesses the SaaS Platform with Customer’s or any of Customer’s User’s account credentials. Customer shall manage User access, add, and subtract Users, suspend or terminate access for Users who violate the Acceptable Use Policy, eliminate access by multiple Users with shared credentials, and otherwise prohibit the sharing of usernames and passwords. 6.5. Security. Customer is responsible for the security of the Data Center and information systems used to access the SaaS Platform, and for compliance by Users with the terms of the Acceptable Use Policy and this Agreement. Customer shall promptly notify EntryPoint if Customer becomes aware of any loss, theft, or unauthorized use of any of the Customer’s usernames or passwords. EntryPoint has the right at any time to terminate or suspend access to any User or to Customer if EntryPoint believes in good faith that such termination or suspension is necessary to preserve the security, integrity, or accessibility of the SaaS Platform. 6.6. EntryPoint Access. Customer shall provide EntryPoint with network and physical access to the Data Center to (a) install the Licensed Software and Maintenance Releases; (b) provide Support in accordance with this Agreement; (c) verify use in accordance with Subsection 2.1 (Use Rights) and Section 10 (Authorized Use; Audits); and (d) exercise remedies available in accordance with Section 14 (Remedies). 7.SUPPORT. 7.1. Availability. As part of the Services, EntryPoint shall (a) use commercially reasonable efforts to make the Services available to Customer; and (b) provide Support to Customer in accordance with the then-current support policies and documentation available upon request. Customer acknowledges the Services may become temporarily unavailable due to scheduled maintenance, unscheduled emergency maintenance, or other causes beyond EntryPoint’s reasonable control. 7.2. Errors. EntryPoint shall use commercially reasonable efforts to correct Services Errors reported by Customer or provide a reasonable workaround as soon as possible during EntryPoint’s normal business hours of 8:00am – 5:00pm Mountain Time. Customer shall provide such access, information, and support to EntryPoint to the extent requested in the process of resolving any Error. This subsection specifies the Customer’s sole remedy regarding the correction of Errors in the Services. 7.3. Bugs. In addition to reporting Errors, Customer shall report all other bugs and defects of the Services to EntryPoint, and EntryPoint shall endeavor to fix them in a subsequent Maintenance Release. 8.FEES AND EXPENSES. 8.1. SaaS and NOC Fees. In consideration of the SaaS Platform and NOC Services, Customer shall pay EntryPoint a recurring monthly SaaS Fee and NOC Fee for each Active User Account and any other amounts set forth in the Pricing Attachment. The Total SaaS Fee and/or NOC Fee will be calculated using the total number of Active User Accounts in Page 3 of 11 Page 17 of 178 the SaaS Platform as of the 15th of each calendar month, unless EntryPoint provides Billing Services. If EntryPoint is managing the billing, SaaS fees will be 1) prorated in the first partial month and charged on the first business day of the succeeding month or 2) billed each month on the day they become an Active User on the SaaS system. 8.2. Additional Support. For enhanced support not included with the SaaS Platform, Customer shall provide a signed purchase order to EntryPoint for a provided Sales Quote that includes the scope of work and any terms and conditions. Emergency enhanced support may be immediately requested by any Customer point of contact approved to make such requests. EntryPoint shall invoice Customer for such emergency enhanced support on a time and materials basis in accordance with EntryPoint’s then-current hourly rates and expense policies. 8.3. Professional Services. Other than Support, Professional Services, including consulting, are not included in the SaaS Platform. Such Professional Services can be added to this Agreement through the Professional Services Pricing Attachment. EntryPoint shall invoice Customer for emergency service or equipment in accordance with a time and materials basis in accordance with EntryPoint’s then-current hourly rates and expense policies. 8.4. Price Changes. EntryPoint reserves the right to change pricing upon notice to Customer, and the new pricing will apply from the commencement of the next Renewal Term and thereafter. EntryPoint will provide 90 days advance notice prior to any pricing increases. 9.PAYMENT TERMS. 9.1. Invoices. EntryPoint shall invoice Customer monthly in arrears for the SaaS Fees and any recurring charges, together with all non-recurring charges and expenses incurred since the previous invoice. Unless otherwise mutually agreed in writing, EntryPoint may email invoices to the contact person and email address set forth in the Pricing Attachment. Customer shall pay undisputed invoices within thirty (30) days of the first invoice date. Dollar amounts refer to U.S. dollars. 9.2. Interest. If any amount is not paid when due, then without limiting any other rights of remedies of EntryPoint, EntryPoint may charge Customer an interest rate on the amount due and owing from thirty (30) days after the first invoice date at the lesser of 1.5% per month or the maximum interest rate allowed by Applicable Law. 9.3. No Deduction. Customer shall pay all amounts owing to EntryPoint in full without any setoff, recoupment, counterclaim, deduction, debit, or withholding for any reason. 9.4. Taxes. The SaaS Fees and other fees, charges, and amounts payable by Customer for the Services are exclusive of taxes and similar assessments. Customer is responsible for all sales, service, use, and excise taxes, and any other similar taxes, duties, and charges of any kind imposed by any federal, state, or local governmental or regulatory authority on any amounts payable by Customer but not any taxes imposed on EntryPoint’s net income and not any of EntryPoint’s employment taxes, payroll taxes, social security taxes, FICA, unemployment and disability taxes, FUTA, Medicare, self-employment taxes, estimated taxes, and other applicable withholdings. If an exemption is claimed by Customer, Customer shall deliver documentation thereof to EntryPoint, and shall indemnify EntryPoint for any amounts, penalties, interest, and expenses (including legal fees and expenses) incurred to the extent that the exemption is disputed or denied. 10.AUTHORIZED USE; AUDITS. 10.1. Security Measures. The Licensed Software may contain technological measures designed to prevent unauthorized or illegal use of the SaaS Platform. Customer agrees that: (a) EntryPoint may use these and other lawful measures to verify Customer’s compliance with this Agreement and enforce EntryPoint’s rights, including all Intellectual Property Rights, in and to the SaaS Platform; (b) EntryPoint may deny any Person access to or use of the SaaS Platform if EntryPoint, in its discretion, believes that Person’s use of the SaaS Platform would violate any provision of this Agreement, regardless of whether Customer designates that Person as an authorized User; and (c) EntryPoint may collect, maintain, process, and use diagnostic, technical, usage, and related information, including information about Customer’s computers, systems, software, and Data Center, that EntryPoint may gather periodically to improve the performance of the SaaS Platform or develop Maintenance Releases. Page 4 of 11 Page 18 of 178 10.2. Certification. Upon EntryPoint’s written request, not more frequently than annually, Customer shall promptly certify to EntryPoint in writing, signed by an authorized representative of Customer, that the Customer is in compliance with this Agreement. 10.3. Audit Procedure. At any time during the Term and for one (1) year thereafter, EntryPoint or its designee may, on thirty (30) days’ notice, inspect and audit Customer’s use of the SaaS Platform. EntryPoint’s designee may include its accountants and auditors, or an independent public accountant or equivalent, excluding, however, the Software Publisher Association or the Business Software Alliance. The audit will be conducted during regular business hours at Customer’s facilities no more frequently than once in any twelve (12) month period, or more frequently if there is a Default by Customer, in a manner that does not unreasonably interfere with Customer’s business operations. Customer shall make its books, records, equipment, information, and personnel available, and cooperate and assist EntryPoint and its designee as reasonably requested. EntryPoint shall only examine information directly related to Customer’s use of the SaaS Platform. If an audit determines that Customer’s use of the SaaS Platform exceeds the usage permitted by or paid for under this Agreement, EntryPoint and Customer shall negotiate in good faith to resolve any issues uncovered by an audit. 11.CONFIDENTIALITY. 11.1. Confidential Information. The words “Confidential Information” mean all non-public, confidential, or proprietary information disclosed before, on, or after the Start Date, by Discloser to the Recipient and its Representatives, whether disclosed orally or disclosed or accessed in written, electronic, or other form or media, and whether or not marked, designated, or otherwise identified as “confidential,” including, without limitation: (a) finances, customer information, supplier information, products, services, organizational structure, and internal practices, forecasts, sales, and other financial results, records and budgets, and business, marketing, development, sales, and other commercial strategies; (b) unpatented inventions, ideas, methods, and discoveries, trade secrets, know-how, unpublished patent applications, and other intellectual property including any Intellectual Property Rights; (c) designs, specifications, documentation, components, source code, object code, images, icons, audiovisual components and objects, schematics, drawings, protocols, processes, and other visual depictions, in whole or in part, of any of the foregoing; (d) third-party confidential information included with, or incorporated in, any information provided by the Discloser to the Recipient or its Representatives; (e) the results and reporting from audits performed in accordance with this Agreement; and (f) any other information that would reasonably be considered non-public, confidential, or proprietary given the nature of the information and the parties’ businesses. The Licensed Software and Maintenance Releases are protected by EntryPoint as trade secrets and are the Confidential Information of EntryPoint. Confidential Information does not include information that Recipient can demonstrate: (1) is in Recipient’s possession at the time of disclosure; (2) is independently developed by Recipient without use of or reference to Confidential Information; or (3) becomes rightfully known publicly, before or after disclosure, other than due to improper action or inaction by Recipient or its Representatives. 11.2. Nondisclosure. Recipient shall not use or disclose Confidential Information (particularly EntryPoint proprietary information including source code, APIs, and methods) for any purpose other than as provided in this Agreement. Recipient: (a) shall not disclose Confidential Information to any Representative unless such person has a need to know the Confidential Information and is under an obligation of confidentiality that is no less restrictive than this Agreement; and (b) shall not disclose Confidential Information to any other person, entity, or organization without Discloser’s prior consent. Without limiting the generality of the foregoing, Recipient shall protect Confidential Information with the same degree of care it uses to protect its own confidential information of similar nature and importance, but with no less than reasonable care. Recipient shall promptly notify Discloser of any unauthorized access to, or disclosure of, Confidential Information in violation of this Agreement. Recipient may disclose Confidential Information as and to the extent required by Applicable Law or by proper legal or governmental authority. To the extent not prohibited by applicable law, Recipient shall give Discloser prompt notice of any such legal or governmental demand and reasonably cooperate with Discloser in any effort to seek a protective order or otherwise to contest such required disclosure, at Discloser’s expense. 11.3. Injunction. If there is a breach by Recipient or any of Recipient’s Representatives of the duties and obligations in this section, Discloser may seek equitable relief, without proving actual damage, in addition to any and all other damages, rights, and remedies that may be available. Page 5 of 11 Page 19 of 178 11.4. Termination & Return. With respect to each item of Confidential Information, the obligations of this section terminate five (5) years after the date of disclosure, except that the obligations survive indefinitely regarding any Confidential Information constituting trade secrets. Upon written request or termination of this Agreement, Recipient shall return all copies of Confidential Information including the Licensed Software to Discloser. 11.5. Retention of Rights. Except as and to the extent set forth in this Agreement, the disclosure of any Confidential Information does not transfer ownership of, or grant any license to, Confidential Information. Discloser hereby reserves and retains all rights, title, and interest in and to all its Confidential Information. 12.TERM; TERMINATION. 12.1. Term. This Agreement is effective as of the Start Date and continues for an Initial Term of 12 months, and thereafter automatically renews each year unless terminated as provided in this Agreement. 12.2. Customer Termination. Customer may terminate this Agreement at its sole discretion any time after completion of the initial 12-month term by delivering notice of such termination in writing no less than ninety (90) days before the effective termination date. Customer agrees to pay all SaaS fees accrued prior to termination or until the SaaS Platform is no longer in use as verified by EntryPoint. 12.3. Termination for Cause. Either party may terminate this Agreement within 90 days of notice of termination for cause or Default by the other party. 12.4. Effect of Termination. Termination does not relieve any party of obligations arising or accruing prior to the date of termination. At the end of the Term and upon termination of this Agreement: (a) Customer shall immediately surrender any rights, licenses, and privileges granted under this Agreement, (b) each party shall promptly pay to the other all undisputed amounts due and owing; and (c) each party shall immediately cease using and return all property in its possession belonging to the other party, including without limitation all copies of the Licensed Program, Documentation, and tangible embodiments of Confidential Information. 12.5. Survival. The following terms survive termination or expiration of this Agreement: (a) any obligation of Customer to pay fees incurred before termination; (b) Sections and Subsections 2.4 (Restrictions), 2.5 (Customer Data), 8 (Fees and Expenses), 9 (Payment Terms), 10.3 (Audit Procedure), 11 (Confidentiality), 12.5 (Survival), 13.5 (Disclaimer), 14 (Remedies), 15 (Defense), 16 (Limitation of Liability), and 17 (Miscellaneous); and (c) any other term of this Agreement that must survive to fulfill its essential purpose. 13.SOFTWARE RELEASE FOR CONTINUITY Upon the occurrence of any of the following events (each, a “Release Event”): (a)Licensor files for bankruptcy, insolvency, or becomes subject to any proceeding under applicable debtor relief laws; (b) Licensor ceases, or announces its intent to cease, material business operations relating to the SaaS Service; (c) Licensor materially breaches its obligations under the SaaS Agreement and fails to cure such breach within [30] days following receipt of written notice from Licensee; (d) Licensor fails to provide the SaaS Service for a continuous period of [5] business days (excluding any force majeure event); or (e) Licensor fails to provide critical maintenance, support, or security updates necessary for the continued operation or security of the SaaS Service, then, upon written request by Licensee, Licensor shall promptly release (or cause the release of, including through any escrow agent, if applicable) all Licensee Release Materials necessary to enable Licensee (or its designated third-party service provider) to operate, maintain, and support the SaaS Service (the “Release Materials”). The Release Materials may include, but are not limited to: Page 6 of 11 Page 20 of 178 ●Source code and object code ●Build, compilation, and deployment instructions ●System architecture and design documentation ●Configuration files and environment settings ●Database schemas, data models, and related documentation ●API documentation and integration specifications ●A complete list of third-party dependencies, including licenses and versions ●Encryption keys, key management procedures, or access mechanisms (as applicable and subject to commercially reasonable security controls) ●Administrative credentials, access procedures, and necessary permissions (subject to commercially reasonable security controls) Upon release of the Software Materials: ●Licensee is granted a non-exclusive, perpetual, irrevocable license to use, modify, and maintain the SaaS Service solely for its internal business purposes. ●Licensee may engage third-party contractors for support and maintenance. ●Licensee shall not commercialize or distribute the SaaS Service. 14.REPRESENTATIONS AND WARRANTIES. 14.1. Mutual Representations. Each party represents to the other party that: (a) it is duly organized, validly existing, and in good standing according to the law of its state of formation; (b) it has the full right, power, and authority to enter into and perform its obligations and grant the rights, licenses, and authorizations under this Agreement; (c) the execution of this Agreement by its representative whose signature is set forth at the end of this Agreement has been duly authorized by all necessary corporate or organizational action; and (d) when executed and delivered by the parties, this Agreement will constitute the legal, valid, and binding obligation of such party, enforceable against such party in accordance with its terms. 14.2. SaaS Warranty. EntryPoint warrants that the SaaS Platform, under normal use and subject to Customer’s compliance with this Agreement, will perform materially in accordance with the Documentation. 14.3. Services Warranty. Professional Services by EntryPoint will be performed in a professional and workmanlike manner, in accordance with generally accepted industry standards. 14.4. Warranty Remedies. Customer shall notify EntryPoint of any warranty deficiencies under Subsection 13.2 (SaaS Warranty) and Subsection 13.3 (Services Warranty) within thirty (30) days of the performance, and Customer’s exclusive remedy will be to have EntryPoint repair or re-perform the Software or services. The foregoing notwithstanding, Customer acknowledges that the Software or Services may not be uninterrupted or error-free, and Errors will be serviced in accordance with Section 7 (Support). 14.5. DISCLAIMER. Except for the express representations and warranties in this section, and to the maximum extent permitted by Applicable Law, EntryPoint disclaims all express, implied, and statutory warranties, including any warranties of merchantability, fitness for a particular purpose, title and non-infringement, compatibility with computer systems, or integration. EntryPoint does not warrant the reliability, timeliness, suitability, or accuracy of the SaaS Platform, the Services, or the results Customer may obtain using the SaaS Platform or any EntryPoint Services. EntryPoint does not warrant uninterrupted or error-free operation of the SaaS Platform or any EntryPoint Services or that EntryPoint will correct all defects or prevent third party disruptions or unauthorized third-party access. EntryPoint disclaims all failures, delays, and other problems inherent in the use of the internet. 15.REMEDIES. In addition to any other rights or remedies available to EntryPoint, if there is a Default by Customer, EntryPoint may (a) require strict performance by Customer with the terms of this Agreement; (b) terminate this Agreement; (c) suspend all or part of the SaaS Platform; (d) demand a return of the Licensed Software; and (e) disable Page 7 of 11 Page 21 of 178 or otherwise remove the Licensed Software from the Data Center. Suspension does not relieve Customer of its payment obligations. EntryPoint may lift the suspension upon Customer’s payment or cure of the violation, as applicable. All rights and remedies provided available to EntryPoint are cumulative and not exclusive of any other rights or remedies that may be available, whether provided by law, equity, statute, or in any other agreement between the parties or otherwise. 16.DEFENSE. Customer shall defend EntryPoint and its owners, officers, directors, employees, agents, successors, and assigns against any Claim by a third party alleging the Customer Data violates Applicable Law or infringes the privacy or Intellectual Property Rights of the claimant, and Customer shall pay for finally awarded damages, costs (including attorney fees), and any settlements of the Claim. As a condition to Customer’s obligations under this section, the covered Person shall (a) promptly give written notice of the Claim to Customer; (b) give Customer sole control of the defense and settlement of the Claim on the condition that Customer may not settle any Claim unless the covered Person is unconditionally released of all liability; and (c) provide Customer, at Customer’s cost, all reasonable assistance. 17.LIMITATION OF LIABILITY. No party will be liable under any contract, tort, negligence, strict liability or other theory (a) for error or interruption of use, inaccuracy or cost of procurement of substitute goods, service or technology, or loss of business, revenue, or data; (b) for any indirect, incidental, reliance, exemplary, punitive, special, or consequential damages; (c) for any matter beyond its reasonable control, even if such party has been advised of the possibility of such loss or damage; and (d) except for Customer’s payment obligations, for any amounts that, together with amounts associated with all other claims, exceed the cumulative fees invoiced to Customer under this Agreement in the twelve (12) months preceding the date the claim arose. The parties agree that this section operates in full force and effect notwithstanding any finding that the remedies in this Agreement fail in their essential purpose. The limitations set forth in this section do not apply: (x) to defense obligations under Section 15; (y) to claims arising out of either party’s gross negligence or willful misconduct; or (z) to the extent prohibited by Applicable Law. 18.MISCELLANEOUS. 18.1. Entire Agreement. This Agreement constitutes the sole and entire agreement of the parties with respect to the subject matter of this Agreement and supersedes all prior or contemporaneous understandings, agreements, representations, or warranties, written and oral, concerning such subject matter. 18.2. Amendment; Waiver. No amendment of this Agreement is effective unless it is in writing, identified as an amendment to this Agreement, and signed by an authorized representative of each party. No waiver by any party of any term of this Agreement is effective unless it is in writing and signed by the party so waiving. Except as otherwise set forth in this Agreement, no failure to exercise, or delay in exercising, any right, remedy, power, or privilege arising from this Agreement is, or should be construed as, a waiver thereof nor shall any single or partial exercise of any right, remedy, power, or privilege preclude any other or further exercise thereof or the exercise of any other right, remedy, power, or privilege. 18.3. Governing Law. This Agreement is governed by and construed in accordance with the laws of Idaho without giving effect to any choice or conflict of law provision or rule that would require or permit the application of the laws of any jurisdiction other than those of Idaho. The Uniform Computer Information Transactions Act does not apply. 18.4. Dispute Resolution and Attorney Fees. The parties shall negotiate in good faith to settle any dispute arising out of or related to this Agreement or its interpretation, operation, breach, termination, or cancellation. If the parties cannot settle the dispute, then it may be submitted to the courts. Either party may exercise any legal right and remedy available to it, whether at law or in equity, to enforce any term of this Agreement. In the event either party commences legal action to enforce any term of the Agreement, the prevailing party in such proceeding will be entitled, in addition to any other rights and remedies it may have, to recover its reasonable costs, expenses, and attorney fees. 18.5. Jurisdiction. Any legal suit, action, or proceeding arising out of or related to this Agreement will be instituted exclusively in the federal courts of the United States or the courts of Idaho in each case located in Bonneville County, Idaho, and each party irrevocably submits to the exclusive jurisdiction of such courts. Page 8 of 11 Page 22 of 178 18.6. Notices. Except as otherwise expressly set forth in this Agreement, any notice, request, consent, claim, demand, waiver, or other communication under this Agreement will have legal effect only if in writing and addressed as follows: Notice to EntryPoint: EntryPoint Networks, Inc. Attn: Legal Notices 1949 West Printers Row Salt Lake City, UT 84119 Notice to Customer: City Of Ammon Attn: Brian Powell 2135 S Ammon Rd Ammon, Idaho, 83406 bpowell@cityofammon.us Notice to Customer: Nelson Hall, Parry Tucker, PLLC Attn: Scott Hall P.O. Box 51630 Idaho Falls, Idaho, 83405-1630 srhall@nhptlaw.net Notices sent in accordance with this section will be deemed effectively given when received. Each party may designate another address or contact person from time to time in accordance with this section. 18.7. Severability. The terms of this Agreement are severable. If any term of this Agreement is held by a court of competent jurisdiction to be contrary to law, the term will be deemed null and void, and the remaining terms of this Agreement will remain in full force and effect. 18.8. Anti-Corruption. Customer acknowledges that it has not received or been offered any illegal or improper bribe, kickback, payment, gift, or thing of value (excluding reasonable gifts and entertainment provided in the ordinary course of business) from EntryPoint or any of its employees or agents. 18.9. Export Administration. Customer agrees that (a) it shall not export or re-export, directly or indirectly, the SaaS Platform or any part thereof in violation of Applicable Law; and (b) the SaaS Platform is not intended to be used for any purposes prohibited by Applicable Law, including, without limitation, for nuclear, chemical, or biological weapons proliferation. Customer is (x) not, nor is it acting on behalf of, any person who is a citizen, national, or resident of, or who is controlled by the government of any country to which the United States has prohibited export transactions; and (y) not, nor is it acting on behalf of, any person or entity listed on the U.S. Treasury Department’s list of Specially Designated Nationals and Blocked Persons, the U.S. Commerce Department’s Table of Denial Orders, or any other list distributed by the U.S. government identifying individuals or entities to which access or use of the SaaS Platform would be prohibited by Applicable Law. 18.10. Government Use. Use of the SaaS Platform by or on behalf of the U.S. government, including any contractor or subcontractor, is limited by this section. Any portion of the SaaS Platform that is software and any related documentation including without limitation the Licensed Software and Documentation are each a “commercial item” as that term is defined at 48 C.F.R. 2.101; consisting of “commercial computer software” and “commercial computer software documentation” as such terms are used in 48 C.F.R. 12.212. Consistent with 48 C.F.R. 12.212 and 48 C.F.R. 227.7202-1 through 227.7202-4, all U.S. government end users acquire any portion of the Services that is software, and such documentation with only those rights set forth in this Agreement. The contractor or manufacturer is EntryPoint Networks, Inc., 1949 West Printers Row, Salt Lake City, UT, 84119. 18.11. Governmental Entities. If the Customer is a governmental entity, the following sections will not apply to the extent Customer is prohibited by Applicable Law from agreeing to such terms: Section 15 (Defense) and Subsection 17.3 (Governing Law). 18.12. Feedback. From time-to-time Customer may give feedback, which feedback includes suggestions, ideas, and reports of Errors, to EntryPoint concerning the functionality, performance, reliability, or applicability of all or part of the SaaS Page 9 of 11 Page 23 of 178 Platform. Customer assigns to EntryPoint all right, title, and interest in and to the feedback and further grants EntryPoint a worldwide, perpetual, irrevocable, royalty-free license to use, reproduce, employ, transfer, modify, and create derivative works of the feedback. 18.13. Force Majeure. No delay, failure, or default, other than a failure to pay fees when due, will constitute a Default of this Agreement to the extent caused by acts of war, terrorism, hurricanes, earthquakes, other acts of God or of nature, strikes or other labor disputes, riots or other acts of civil disorder, embargoes, or other causes beyond the performing party’s reasonable control. 18.14. Assignment. EntryPoint may assign, transfer, delegate, and subcontract its rights and obligations at any time to any Person. Customer shall not assign or otherwise transfer any of its rights, or delegate or otherwise transfer any of its obligations or performance, under this Agreement without EntryPoint’s prior written consent. Any purported assignment, delegation, or transfer in violation of this section is void. Subject to the foregoing, this Agreement is binding on and inures to the benefit of the parties and their respective successors and permitted assigns. 18.15. No Third-Party Beneficiary. This Agreement is for the sole benefit of the parties hereto and their respective successors and permitted assigns and, except as set forth in Section 15 (Defense), nothing in this Agreement, express or implied, is intended to or confers on any other Person any legal or equitable right, benefit, or remedy of any kind whatsoever under or by reason of this Agreement. 18.16. Relationship of the Parties. The relationship of the parties is that of independent contractors. Nothing contained in this Agreement is intended to, or may be interpreted as, creating any agency, partnership, joint venture, franchise, alter ego, or other form of joint enterprise, employment, or fiduciary relationship between the parties. 18.17. Counterparts. This Agreement may be executed in two or more counterparts, each of which is deemed an original, and all of which together constitute one and the same agreement. The parties hereby consent to the use of electronic signatures. A signed copy of this Agreement delivered by email, or other means of electronic transmission has the same legal effect as delivery of an original signed copy of this Agreement. [Signature page follows] Page 10 of 11 Page 24 of 178 The parties, by and through their respective duly authorized representatives, sign this Agreement as of the Start Date. EntryPoint: ENTRYPOINT NETWORKS, INC. _____________________________________ Name: Jeff Christensen Title: President Date: Customer: City of Ammon _____________________________________ Name: Brian Powell Title: Mayor Date: Page 11 of 11 Page 25 of 178 SCHEDULE A Definitions – General Subscription and Services Agreement __________________________ “Acceptable Use Policy” means the Acceptable Use Policy attached as Schedule B to the Agreement. “Active User” means a User who has an authentic user name and password to access the SaaS Platform. “Active User Account” is the multiplier used to calculate the monthly SaaS Fee based upon the following three criteria: 1) A single Active User capable of managing a single edge device (VBG) would equal one Active User Account. 2) Active Users capable of managing more than a single edge device would equal the number of edge devices being managed by that Active User. For example, a single Active User managing a total of four edge devices would equal four Active User Accounts. 3) An authenticated edge device that is managed by more than a single Active User, would equal the total number of Active Users managing that device. For example, a single edge device being managed by a total of four Active Users would equal four Active User Accounts. “Agreement” means this Agreement, all schedules and other documents attached and made a part hereof, and the Pricing Attachment, collectively, as they may be amended or supplemented from time to time. “Applicable Law” means the legal requirements applicable to this Agreement and the Services provided by EntryPoint to Customer. “Claim” means legal action, claim, controversy, grievance, or cause of action. “Components” means individual modules, products, or components that make up the Licensed Software. “Confidential Information” has the meaning set forth in Section 8 (Confidentiality). “Customer” has the meaning set forth in the first paragraph of this Agreement. “Customer Data” means all data, information, files, and other materials that Customer or its Users cause to interact with or transmit using the Services, or upload to the Services, or otherwise transfer, process, use, or store in connection with the Services. “Data Center” means the computer platform or platforms, systems, and networks on which Customer installs and operates the SaaS Platform, as described by Customer to EntryPoint in the relevant Pricing Attachment. “Default” means (a) with respect to EntryPoint, a failure by EntryPoint to observe or perform any material obligation of this Agreement which is not cured within thirty (30) days after written notice thereof; and (b) with respect to Customer (i) failure to pay any amount owed to EntryPoint within ten (10) days of being due, (ii) failure to comply with the Acceptable Use Policy, (iii) failure to strictly comply with Subsection 2.4 (Restrictions), (iv) failure to grant or maintain access for EntryPoint in accordance with Subsection 6.6 (EntryPoint Access), (v) violation of the confidentiality duties and obligations set forth in Section 11 (Confidentiality), (vi) filing for bankruptcy, or becoming the subject of any voluntary or involuntary proceeding under the U.S. Bankruptcy Code or state insolvency proceeding, and such bankruptcy or proceeding not being terminated within thirty (30) days of its commencement, (vii) insolvency of Customer, or (viii) failure by Customer to observe or perform any other obligation of this Agreement which is not cured within thirty (30) after written notice thereof. “Discloser” means the party disclosing Confidential Information. “Documentation” means the standard user manual for the Licensed Software and related documentation provided by EntryPoint, as updated from time to time. “Edition” means the named configuration of the Licensed Software made available to Customer. An Edition defines what Components, features, limits, and usage restrictions are placed on the Licensed Software. From time to time, new Components or features may be introduced, and those Components or features may be restricted to specific Editions. “EntryPoint API” means EntryPoint’s application programming interface, also referred to as the FlowOps API or the OpenEdge FlowOps API, which is made available and subject to the EntryPoint API Terms. “EntryPoint API Terms” means EntryPoint’s API Terms of Service. “Error” shall mean any reproducible material failure of the Licensed Software to function in accordance with the Documentation. Schedule A – General Subscription and Services Agreement Page 26 of 178 “Initial Term” means a period beginning on the Start Date and ending on the last day of that number of months specified in the Pricing Attachment. “Intellectual Property Rights” means any and all registered and unregistered rights granted, applied for, or otherwise now or hereafter in existence under or related to any patent, copyright, trademark, trade secret, database protection, or other intellectual property rights laws, and all similar or equivalent rights or forms of protection, in any part of the world. “Licensed Software” means the Edition of EntryPoint’s FlowOps Management, FlowOps Authentication and FlowOps VBG Operating System software, in object code format, that Customer has subscribed to on the Pricing Attachment, together with any Maintenance Releases provided to Customer pursuant to this Agreement. “Maintenance Release” means any patch, fix, release, update, upgrade, or other adaptation or modification of the Licensed Software, in object code format, together with any updated Documentation, that EntryPoint may provide to Customer from time to time containing, among other things, error corrections, enhancements, improvements, or other changes to the user interface, functionality, compatibility, capabilities, performance, efficiency, or quality of the Licensed Software, excluding any New Edition. “New Edition” means any new Edition of the Licensed Software that EntryPoint may from time to time introduce and make available generally as a distinct licensed product (as may be indicated by EntryPoint’s designation of a new version number), and which EntryPoint may make available to Customer at an additional cost under a separate written agreement. “Person” means an individual, corporation, partnership, joint venture, limited liability entity, governmental authority, unincorporated organization, trust, association, or other legal entity. “Premise” means, as to consumer and residential use of the SaaS Platform, each discrete residence such as a single-family residence or an individual apartment unit within a multi-family complex. “Pricing Attachment” means a written document, signed by the parties, and made a part of this Agreement, which provides the monthly price for Active User Accounts and other fees and expenses applicable to this Agreement. “Professional Services” means training, consulting, implementation and configuration advisory, and other services purchased separately by Customer using the applicable attachment. “Recipient” means the party receiving Confidential Information. “Renewal Term” means one or more renewal terms following the Initial Term, each consisting of a period of one (1) year and commencing upon expiration of the applicable term. “Representative” means any employee, officer, director, owner, partner, shareholder, agent, attorney, accountant, or advisor. “SaaS Platform” means the Licensed Software, Maintenance Releases, Documentation, and Support provided by EntryPoint to Customer’s Users during the Term as set forth in this Agreement. “SaaS Fee” means the monthly fee owed by Customer for each Active User Account. “Screen” means any screen, user interface, or other visual appearance of a portal produced by the Services and viewed by Customer or its Users. “Services” means the SaaS Platform, NOC Services, Billing Services, and Professional Services, as applicable. “Source Code” means the eye-readable embodiment of the programmatic instructions that were converted to the object code form of the Licensed Software. “Start Date” means the date this Agreement is signed as of the last date set forth in the signature block of the parties. “Support” means the services provided by EntryPoint to support the Services as set forth Section 4 (Support). “Support Request” means any request or demand directed to EntryPoint by Customer for guidance, assistance, clarification, or instruction relating to the operation, configuration, maintenance, support, or installation of the Services; or any request or demand directed to EntryPoint by Customer for any modification to the Licensed Program, including but not limited to, removal or addition of features. “Term” means the Initial Term and each 1-year Renewal Term of this Agreement, as applicable, which may be terminated earlier in accordance with this Agreement. Schedule A – General Subscription and Services Agreement Page 27 of 178 “User” means any Person who uses the Services, without regard to whether there is access to the Licensed Software, on Customer’s behalf or through Customer’s account or passwords, whether authorized or not, such as, without limitation, Customer’s employees, contractors, service providers, and customers. Schedule A – General Subscription and Services Agreement Page 28 of 178 SCHEDULE B Acceptable Use Policy __________________________ This Acceptable Use Policy (“Policy”) explains the requirements of your use of the services (the “Service”) made available by us and our licensors and suppliers. You must agree to this Policy before you can use or access the Service. REQUIREMENTS: We require that you observe this Policy, as follows: Compliance – You will use the Service in compliance with the law in all respects. No Abusive Behavior – You will not harass, threaten, defame, or abuse anyone. You will not contact anyone who has requested that you not contact them. You will not use offensive language or slurs towards anyone. Respect the Privacy of Others – You will not violate the privacy of anyone, nor will you collect or disclose personal data, including, without limitation, any address, social security number, driver license number, login credentials, biometric information, or other personally-identifiable information without the owner’s written permission. You will not impersonate or steal the identity of anyone. Respect Intellectual Property – You will not infringe the copyright, trademark, trade secret, or any other intellectual property of anyone. You will not copy, reproduce, publish, or distribute software, audio recordings, video recordings, photographs, articles, or other works of authorship without the written permission of the copyright holder. No Hacking or Attacks – You will not access any computer or communication system, including computers used to provide the Service (the “Systems”), without authorization. You will not probe, scan, or test the Service or Systems for vulnerabilities, nor will you penetrate or disable any security system, without our prior consent. You will not intentionally distribute a computer virus, worm, Trojan horse, or any other harmful program. You will not access or otherwise interfere with the accounts of other users of the Service. No Network Abuse – You will not circumvent or avoid any limitations placed on the Service. You will not monitor or crawl the System or anyhow impair or disrupt our monitoring of the System. You will not launch a denial-of-service attack, overload, or attempt to interfere in any way with the functioning of the System or Service. No Spam – You will not send bulk unsolicited emails or any unsolicited pornography, promotions, or marketing messages (“Spam”) or sell or market any product or service advertised by or connected with Spam. You will not facilitate or cooperate in the dissemination of Spam and will not violate the CAN-Spam Act of 2003, as amended, and supplemented. Respect Our Rights – You will not, directly or indirectly: (a) copy the Service, in whole or part; (b) modify, correct, adapt, translate, enhance, or otherwise prepare derivative works or improvements of the Service; (c) share your credentials or otherwise transfer your right to use the Service to anyone; (d) reverse engineer, disassemble, decompile, decode, or adapt the Service, or otherwise attempt to derive or gain access to the source code of the software used to make the Service available, in whole or part, or attempt to discover the underlying structure, ideas, or algorithms that comprise the Service; (e) use the Service for the purposes of developing, using, or providing a competing software, subscription, or service; or (f) remove, delete, efface, alter, obscure, translate, combine, supplement, or otherwise change any trademarks, documentation, warranties, disclaimers, intellectual property rights, proprietary rights, or other symbols, legends, notices, marks, or serial numbers on or relating to the Service. No Fraud – You will not mislead others or make a false or fraudulent statement. You will not commit fraud. REPORTING VIOLATIONS: Schedule B – General Subscription and Services Agreement Page 29 of 178 If you are aware of any violation of this Policy, you will promptly notify us of the violation and any details you may have regarding the violation. MONITORING: We reserve the right, but assume no obligation, to monitor the Systems and your use of the Service. We may investigate any suspected violation of this Policy. ENFORCEMENT: We may modify, delete, remove, quarantine, or disable access to any content that violates this, Policy. In addition to any other rights or remedies available to us, we may suspend or terminate your account or pursue legal action if you violate this, Policy. We may seek payment for investigation costs, out-of-pocket expenses, and legal fees and expenses due to a violation of this Policy. We reserve, and do not waive, our rights. If we suspect any activity, content, or use of the Service violates the law, we may report that to law enforcement, regulatory or governmental authorities, and others. We may cooperate with law enforcement, regulatory or governmental authorities, and others to assist with investigations and prosecutions by providing network and systems information relating to alleged violations of this Policy. AMENDMENTS: We may change this Policy at any time by posting a new version on this page and giving you notice thereof. The new version will be effective on the date of notice. In addition, by using the Service, you agree to the newest version of this Policy. Schedule B – General Subscription and Services Agreement Page 30 of 178 SAAS PRICING ATTACHMENT This Pricing Attachment (the “Attachment”) is dated [Click for date], and made a part of that certain General Subscription and Services Agreement, dated [Click for date], between EntryPoint Networks, Inc. (“EntryPoint”) and City of Ammon (“Customer”). SaaS Platform Components: (1)FlowOps Network Management is a software orchestration platform that manages communication and events between various network components. One of its primary responsibilities is to determine what network flows are assigned to network edge devices (VBG) and ensure the correct flows are applied to realize dynamic network services. These actions are composed of interactions with databases, SDN controllers, physical network devices, and virtual infrastructure. (2)FlowOps Authentication provides the architectural abstraction used to enforce security by requiring authentication and authorization for any device before that device is allowed to communicate freely on the network. (3)FlowOps VBG Operating System is the core software component that enables VBG functionality and operations. (4)Virtual Broadband Gateway (VBG) Operating System. Pricing: $1.00 per month per Active User Account for use of the legacy system and $2.00 per month per Active User Account upon delivery of the new software system as accepted and approved by Ammon (Customer). Customer Invoicing Contact Information: City of Ammon Attn: Jennifer Lyman 2135 S Ammon Rd Ammon, Idaho, 83406 ap@cityofammon.us The parties, by and through their respective duly authorized representatives, sign this Attachment as of the date first set forth above. EntryPoint: ENTRYPOINT NETWORKS, INC. _____________________________________ Name: Jeff Christensen Title: President Date: Customer: City of Ammon _____________________________________ Name: Brian Powell Title: Mayor Date: Pricing Attachment – General Subscription and Services Agreement Page 31 of 178 PROFESSIONAL SERVICES PRICING ATTACHMENT This Pricing Attachment (the “Attachment”) is dated [Click for date], and made a part of that certain General Subscription and Services Agreement, dated [Click for date], between EntryPoint Networks, Inc. (“EntryPoint”) and City of Ammon (“Customer”). Billing Services: EntryPoint’s Professional Services are designed to assist Customer with all aspects of network planning, network deployment, community engagement, subscriber onboarding, and/or systems and API integration development. Pricing: $250.00 per hour Customer Invoicing Contact Information: City of Ammon Attn: Jennifer Lyman 2135 S Ammon Rd Ammon, Idaho, 83406 ap@cityofammon.us The parties, by and through their respective duly authorized representatives, sign this Attachment as of the date first set forth above. EntryPoint: ENTRYPOINT NETWORKS, INC. _____________________________________ Name: Jeff Christensen Title: President Date: Customer: City of Ammon _____________________________________ Name: Brian Powell Title: Mayor Date: Pricing Attachment – General Subscription and Services Agreement Page 32 of 178 Date:May 21, 2026 To:Mayor Powell and City Council Presenting:Micah Austin, City Administrator and Chief Jon Molbert Subject:Contract for Services with Bonneville County Fire District No. 1 for Wildland Fire Services Request from Bonneville County Fire District No. 1 for a Contract for Services to Purchase Wildland Fire Equipment Staff Recommendation -Approve the Contract for Service with BCFD in the amount of $20,000 Summary of Analysis 1.The Bonneville County Fire District Number 1 (BCFD) provides fire and rescue services to the Ammon Community. The City of Ammon does not provide any fire and rescue services. 2.BCFD also provides wildland fire service to the community by protecting the Wildland Urban Interface (WUI) adjacent to and outside of the City of Ammon. 3.To better protect the Ammon community, BCFD is requesting a Contract for Service in the amount of $20,000 to upgrade the wildland fire personal protective equipment that is used in direct service to the Ammon Community. 4.The Contract for Service details the PPE and other equipment that will be purchased, not to exceed $20,000. Financial Impact -Contract for Service request is for $20,000. This amount will be taken from 10-408-600. This request will exceed the budget for this line item. However, there is no line item or budget assigned for this request. Funds are available, however this expense was not contemplated when the FY26 budget was adopted in August, 2025. If Council approves this contract, the line item will be exceeded, however the overall budget for the Executive Department will not likely be exceeded. Motion “I move to approve the Contract for Services” with the Bonneville County Fire District No. 1. in the amount of $20,000.” Attachments: 1.Contract for Service with the Bonneville County Fire District. 2135 South Ammon Rd., Ammon, Idaho 83406 City Hall: (208) 612-4000 www.cityofammon.us Page | 1 Page 33 of 178 Page 34 of 178 Page 35 of 178 Page 36 of 178 Page 37 of 178 Page 38 of 178 Page 39 of 178 Date:May 21, 2026 To:Mayor Powell and City Council Presenting:Micah Austin, City Administrator Subject:2026-2027 Lease of Water Rights from City of Pocatello for the Purpose of Recharge or Delivery to the Surface Water Coalition in Compliance with the Final Settlement Agreement with the Surface Water Coalition (SWC) 2026-2027 Lease of Water Rights from City of Pocatello for the Purpose of Recharge or Delivery to the Surface Water Coalition in Compliance with the Final Settlement Agreement with the Surface Water Coalition (SWC) Staff Recommendation -Approve the agreement as presented. Summary of Analysis 1.According to the Final Settlement Agreement with the Surface Water Coalition, the City of Ammon is required to mitigate its groundwater impacts to avoid curtailment of groundwater pumping. 2.Since 2018, the City of Ammon has paid the City of Pocatello to lease water owned by the City of Pocatello in Palisades Reservoir. This agreement requires those portions of water rights to be retained in the reservoir and/or used for aquifer recharge. This agreement is intended to accomplish aquifer recharge, thereby satisfying the requirement of the obligations of the Final Settlement Agreement. However, because of the dry conditions this year, this year's leased water will be used for direct delivery to the Surface Water Coalition SWC for irrigation, rather than for aquifer recharge. 3.To satisfy the Final Settlement Agreement, the City of Ammon must lease 626.3 acre feet from the City of Pocatello. This is a reduction from the original amount, thanks to converting Woodland Hills Park to surface water. 4.The total mitigation cost in this agreement is $36,701.18. Last year’s cost was $33,702.24 an increase of $2,998.94. 5.With all fees included (see attached agreement), the cost is $58.60/acre to lease this volume of water. The actual break down of costs is summarized below, as copied from the agreement: a.The rent for the leased water is $33.00 per acre-foot (for a total of $20,667.90). b.The fees for this Lease are: i. $20.00 per acre-foot for the City of Pocatello’s administrative costs (for a total of $12,526); ii. The “Administrative Fee” (defined in WD01 Rental Pool Procedure 2.3 and quantified in Procedure 6.4) of $2.30 per acre-foot (for a total of $1,440.49) charged by Water District 01; iii. The “Board Surcharge” (defined under Rental Pool Rule 2.10) charged by the Idaho Water Resource Board (“IWRB” or “Board”) (for a total of $2,066.79) which is equal to 10% of the total rental price; 6.Staff has researched other options to satisfy the Final Settlement Agreement. At this time, no other viable and reasonable options are available. 2135 South Ammon Rd., Ammon, Idaho 83406 City Hall: (208) 612-4000 www.cityofammon.us Page | 1 Page 40 of 178 Financial Impact -The total cost for groundwater mitigation, according to this agreement, is $36,701.18. -This expense will be charged to the Water Fund. Motion “I move to approve the Water Rights Lease Agreement with the City of Pocatello in the amount of $36,701.18.” Attachments: 1.2026-2027 Water Rights Lease Agreement 2135 South Ammon Rd., Ammon, Idaho 83406 City Hall: (208) 612-4000 www.cityofammon.us Page | 2 Page 41 of 178 1155 CANYON BLVD, SUITE 110, BOULDER, CO 80302 OFFICE: 303-449-2834 FAX: 720-535-4921 SOMACHLAW.COM May 8, 2026 Sent Via Electronic Mail to: Robert L. Harris, Esq. Holden Kidwell Hahn & Crapo, PLLC P.O. Box 50130 Idaho Falls, ID 83405-0130 rharris@holdenlegal.com Re: City of Ammon 2026 Revised Lease of Pocatello’s Palisades Storage Water Dear Robert: On March 30, 2026, we sent a 2026 lease agreement for Pocatello’s Palisades storage water for your review and execution, along with Exhibit 2 to the Revised ESPA City Agreement for Allocation of Mitigation Obligations under the Final Settlement Agreement (“Cities’ Allocation Agreement”), which summarizes the proportional amount of the 7,650 acre-feet of total mitigation obligation for which each signatory city is responsible. Given the dry conditions this year, the SWC has requested that the Cities directly deliver their mitigation water, instead of recharging it. Towards that end, I enclose a revised 2026 Lease Agreement. The lease has been revised to remove the IWRB recharge fee. The lease has been left in Word format so that you can adjust the contact information and other such details as necessary to execute the lease. As we indicated in the Marh 30, 2026 letter, Ammon’s mitigation responsibility in 2026 is 659.2 acre-feet (per Exhibit 2). If Ammon decides to lease storage water from Pocatello, please return, no later than August 1, 2026, an executed lease and a check in the amount reflected on the lease, made out to City of Pocatello, to: Andrea Henderson City of Pocatello PO Box 4169 911 N. 7th Pocatello, ID 83205-4169 Please call with any questions. Thank you in advance for your assistance with this matter. Page 42 of 178 Robert L. Harris, Esq. Re: City of Ammon 2026 Revised Lease of Pocatello’s Palisades Storage Water May 8, 2026 Page 2 With kind regards, Sarah A. Klahn Attachments cc: Rich Diehl, City of Pocatello Andrea Henderson, City of Pocatello Brian Patton, IWRB SAK/vif Page 43 of 178 2026 REVISED STORAGE WATER LEASE AGREEMENT This Revised Lease Agreement is made and entered into between the CITY OF POCATELLO, a municipal corporation of Idaho whose address is P.O. Box 4169, Pocatello, Idaho 83205, hereinafter referred to as “Pocatello” or “Lessor”, and the CITY OF AMMON, a municipal corporation of Idaho whose address is 2135 Ammon Road, Ammon, ID 83406, hereinafter referred to as “Lessee”: 1. Purpose. Lessee desires to lease storage water from Lessor for the purposes of supplyingits proportionate share of the Cities’ mitigation obligation specified in the Settlement Agreement Between the Surface Water Coalition, Participating Members of the IdahoGround Water Appropriators, Inc., and Signatory Cities (“Final Settlement Agreement”). 2.Term. The term of this Lease shall commence upon execution of this Lease Agreement,and terminate on April 30, 2027. 3.Leased Property. In accordance with Exhibit 2 (attached), Lessor hereby leases to Lessee and Lessee hereby leases from Lessor 626.3 acre-feet1 of Lessor’s water stored inPalisades Reservoir pursuant to Contract No. 14-06-100-1825. Pursuant to the termsdescribed in paragraph 4 below, and the mitigation volumes reflected in Exhibit 2, the totalamount owed by Lessee is $36,701.18. 4.Rent and Fees. The Lessee agrees to pay rent for storage water and certain fees (some of which are set forth in the 2025 Idaho Department of Water Resources (IDWR) WaterDistrict 01 Rental Pool Procedures (the “Rental Pool Rules”), in the following amounts: a. The rent for the leased water is $33.00 per acre-foot (for a total of $20,667.90). b.The fees for this Lease are: i.$20.00 per acre-foot for the City of Pocatello’s administrative costs (for a total of $12,526); ii.The “Administrative Fee” (defined in WD01 Rental Pool Procedure 2.3 andquantified in Procedure 6.4) of $2.30 per acre-foot (for a total of $1,440.49)charged by Water District 01; 1 The volume of mitigation water for which Lessee is responsible to satisfy its proportional amount of the Final Settlement Agreement is determined by the allocation methods reflected in Exhibit 2 to the Revised ESPA City Agreement for Allocation of Mitigation Obligations under the Final Settlement Agreement (“Cities’ Allocation Agreement”), which is attached hereto. The City of Ammon’s original allocation of mitigation was 659.2 acre-feet, however, the City of Ammon will receive credit for a city park conversion for 32.9 acre-feet. As a result, the required lease amount is reduced by 32.9 acre-feet to 626.3 acre-feet. Page 44 of 178 2026 REVISED STORAGE WATER LEASE AGREEMENT BETWEEN CITY OF POCATELLO Page 2 of 4 AND CITY OF AMMON iii.The “Board Surcharge” (defined under Rental Pool Rule 2.10) charged bythe Idaho Water Resource Board (“IWRB” or “Board”) (for a total of $2,066.79) which is equal to 10% of the total rental price; Payment of the above rents and fees from Lessee shall be received by Lessor no later than August 1, 2026. c.Any rent or administrative fees not paid by August 31, 2026, shall bear interest atthe rate of 12% per annum until paid. d.While fixed for the term of this Lease, the rent and fees are subject to change in the future at the discretion of the responsible entity. 5. Conditions of Lease. This Lease Agreement shall be subject to the following conditions: a.Lessee shall pay the annual agreed upon price to Lessor for the leased water. b.Lessee agrees that the leased amount shall be used consistent with paragraph 5.c. c.Lessor shall ensure the leased amount is assigned to IWRB for recharge or, if the circumstance arises, to a member(s) of the Surface Water Coalition for irrigation. i.However, and notwithstanding the foregoing, Lessor is released fromensuring the leased amount is made available to IWRB for recharge in theevent of an Act of God, or as a result of actions by the U.S. Bureau of Reclamation (BOR), the Committee of Nine, or the Water District 01 imposing restrictions on Lessor’s use of its storage water. ii.If such conditions arise making it impossible for Lessor to ensure IWRBrecharges the leased amount, Lessor shall return any of the Lessee’s fundscollected pursuant to this Lease Agreement. d.This Lease Agreement shall be contingent upon any approvals of the Committee of Nine, Water District 01, IDWR, BOR, or any other entity as may be required bystate or federal law. 6.Non-Use by Lessor. Lessor covenants that it will not divert or otherwise utilize the waterleased to Lessee pursuant to this Lease Agreement during the term of this Lease. 7.Use by Lessee. During the term of this Lease, Lessee will not divert or utilize the leased water except for recharge as provided for under the Final Settlement Agreement. 8.Representations by Lessor. Lessor covenants and represents that it is the true and lawfulowner of the storage water which is the subject of this Lease Agreement, that this waterright under which the water stored has not lapsed, been abandoned, or forfeited, either in whole or in part, and that nothing restricts or precludes Lessor from entering into this Lease Agreement and Lessee utilizing the described storage water. Page 45 of 178 2026 REVISED STORAGE WATER LEASE AGREEMENT BETWEEN CITY OF POCATELLO Page 3 of 4 AND CITY OF AMMON 9.Breach. In the event either party breaches this Lease Agreement and such defaults are notcured within thirty (30) days after receipt of written notice thereof, the non-breaching party, at their option, may elect any or all of the following cumulative remedies: a. To terminate this Lease Agreement; b.To seek specific performance of this Lease Agreement; c.To recover any damages arising out of the breach; d. To pursue any and all other remedies under Idaho law by reason of such breach. 10.Assignment. This Lease Agreement may not be assigned by Lessee without the express written consent of Lessor. 11.Choice of Law. The terms and provisions of this Lease Agreement shall be construed inaccordance with the laws of the State of Idaho. Any required mediation and arbitrationshall occur in Bannock County, Idaho. Jurisdiction and venue for any litigation shall be in the District Court of the State of Idaho in Bannock County. 12.Attorney Fees. In the event of any arbitration or litigation over this Lease Agreement theprevailing party shall be entitled to recover reasonable attorney fees and costs. 13.Binding Effect. This Lease Agreement shall be binding upon the respective heirs,successors and assigns of the parties. 14.Notice. All notices under this Agreement shall be deemed to be properly served if sent by certified mail to the last address previously furnished by the parties hereto. Untilhereafter changed by written notice, said addresses shall be as follows: LESSOR: City of Pocatello Attn: Legal Dept. P.O. Box 4169 Pocatello, ID 83205 LESSEE: City of Ammon Attn: _________________________ ______________________________ ______________________________ Page 46 of 178 2026 REVISED STORAGE WATER LEASE AGREEMENT BETWEEN CITY OF POCATELLO Page 4 of 4 AND CITY OF AMMON Notice shall be complete upon receipt, unless the recipient ignores or refuses to sign for the certified letter, in which event notice shall be deemed to have been completed on the first attempted delivery by the United State Post Office. DATED this ___ day of _________ 2026. LESSEE: CITY OF AMMON, IDAHO By:______________________________ Title: _____________________________ Attest: ___________________________ Printed Name: _____________________ Title: _____________________________ LESSOR: CITY OF POCATELLO, IDAHO By:_____________________________ Mark Dahlquist, Mayor Attest:___________________________ Konni Kendell, City Clerk Page 47 of 178 322 E Front Street, Suite 648, Boise ID 83702 • PO Box 83720, Boise ID 83720-0098 Phone: 208-287-4800 • Fax: 208-287-6700 • Email: idwrinfo@idwr.idaho.gov • Website: idwr.idaho.gov Governor Brad Little Director Mathew Weaver 1 Parties: Signatory Cities, Surface Water Coalition, Idaho Ground Water Appropriators, Inc. May 18, 2026 To: The Parties1 From: Idaho Department of Water Resources Re: Verification of Signatory Cities’ 2025 Mitigation Data This document is submitted by the Idaho Department of Water Resources (“IDWR”) to the Parties to satisfy section III.B of the 2018 Agreement named “Settlement Agreement Between the Surface Water Coalition, Participating Members of Idaho Ground Water Appropriators Inc., and Signatory Cities.” Section III.B of the Agreement states: “The Parties will request that IDWR analyze the data contained in the Signatory Cities’ annual report to confirm the accuracy of the data. IDWR’s analysis shall be provided to the Parties no later than July 1 following the Signatory Cities’ April 1 submittal of the annual report.” On March 31, 2026, the Signatory Cities submitted their 2025 Annual Report (“Report”) to the Parties and IDWR. IDWR has reviewed the Report and determined the recharge and mitigation activities conducted by the Signatory Cities has met the criteria set forth in section II.A.2 of the Agreement and achieved a total recharge/mitigation volume of 7,593.5 acre-feet as shown in table 1 below. This total volume is 3.7 acre feet less than that in the Report and is due to a reduction in the precipitation deficit amount used in the calculation of the Idaho Falls ground to surface water conversion savings. Table 1: 2025 Signatory City Mitigation Activity Details City Source of Mitigation Water Location Activity Date Is location authorized? Does location meet Agreement criteria? Mitigation Amount (acre-feet) Participating Cities City of Pocatello's Palisades Reservoir Storage AFRD#2 2025 Yes. See "2022 Agreement for Direct Delivery in Lieu of Aquifer Enhancement Activities" 4,310.9 Idaho Falls Source 1. City of Idaho Falls storage allocation in Palisades Water Users, Inc.(805.4 acre-feet). Source 2. Idaho Falls lease from City of Pocatello (1300 acre- feet) Source 3. Ground water to surface water conversion projects (estimated 460.1 AF) Sand Creek Site (1330.1 af) New Sweeden Site (775.3 af) Pinecrest Golf Course; College of Eastern Idaho; Mel Erickson Park; Community Park 4/15 - 9/15 4/22 - 9/23 2025 Yes. ESPAM2.1 modeled 5-year retention of 17.8% (row 77, columns 160 and 161) Yes. ESPAM2.1 modeled 5-year retention of 21.0% (row 74, column 156) Yes. Section II.A.2.c of Agreement allows for GW to SW conversion 2,565.5 Rexburg Rexburg Teton River surface water rights 22-203 and 22-204C Walters Pond 3/1 - 12/31 Yes. ESPAM2.1 modeled 5-year retention of 44.3% (row 59, column 183) 684.2 Ammon Ground water to surface water conversion projects (estimated 32.9 AF)Woodland Hills Park 3/1 - 12/31 Yes. Section II.A.2.c of Agreement allows for GW to SW conversion 32.9 Total Mitigation Volume (acre-feet)7,593.5 Page 48 of 178 IDWR Review of Signatory Cities’ 2025 Performance Report Page 2 of 2 Section II.A of the Agreement details the requirement to supply mitigation with a minimum of 1,000 acre- feet per year and to maintain a five-year rolling average mitigation volume of 7,650 acre-feet. The first assessment of compliance pertaining to the five-year rolling average from 2019-2023 occurred in 2024 as per Section II.C of the Agreement. The five-year rolling average from 2021-2025 is shown in table 2 below. Respectfully, Brian W. Ragan, PG Water Administration Bureau Table 2: Signatory City Annual Mitigation and Five Year Average 2021* 2022 2023 2024 2025 Five Year Average Total City Mitigation Amount (acre-feet) 7,650 (7247.4)7,631.1 7,930.0 7,889.7 7,593.5 7,738.9 * In 2021 the parties agreed the Cities would get credit for 7,650 AF of mitigation in exchange for the Cities delivering wet water to the Surface Water Coalition. 7,650 AF is used in this averaging calculation although 7,247.4 AF was the actual mitigation volume. Page 49 of 178 City of Ammon Groundwater Mitigation Report—Page 1 2025 Ammon Groundwater Mitigation Report In the summer of 2024, the City of Ammon undertook and completed construction of one groundwater to surface water conversion project for Woodland Hills Park, which is depicted below: The conversion changed 13 acres of formerly groundwater irrigated grass areas to surface water irrigation from an adjacent canal owned and operated by the Idaho Irrigation District. Below is a photo of the newly installed canal diversion box: Page 50 of 178 City of Ammon Groundwater Mitigation Report—Page 2 This aquifer enhancement activity qualifies on a 1:1 basis towards meeting the City of Ammon’s mitigation obligations pursuant to provision II.A.2.c of the 2018 settlement agreement between the SWC and cities protected under the agreement. This total acreage was multiplied by the precipitation deficit value for irrigated turf grass during a growing season in Idaho Falls (771.86 mm or 2.53 acre-feet per year as provided for the Idaho Falls FAA Airport weather station) as published by the University of Idaho’s Kimberly Research and Extension Center (the “ETIdaho website”). The result of this calculation is set forth here: Page 51 of 178 City of Ammon Groundwater Mitigation Report—Page 3 It is fully anticipated that these properties will continue to utilize surface water for irrigation in future years, thereby entitling the City of Ammon with mitigation credit of 32.92 acre- feet each year. 771.86 30.4 2.53 13.00 32.92 Total Acres Mitigation Acres Analysis Yearly (2025 on) ET Idaho Website Idaho Falls FAA Arpt Mitigation Credit Per Year CIR of Turf (ft) CIR of Turf (mm) CIR of Turf (in) Page 52 of 178 Date: May 21, 2026 To: Mayor Powell and City Council Presenting: Micah Austin, City Administrator Subject: Resolution 2026-011 to Designate Target Park as Surplus Property Designating Target Park as Surplus Property to be Auctioned Publicly Staff Recommendation -Approval of Resolution 2026-011 to designate Target Park as Surplus Property and to be auctioned publicly on a public auction website. Summary of Analysis 1.Target Park consists of a commercial land parcel containing approximately 38,549 square feet, or 0.88 acres. 2.The site is legally identified as Lot 14, Block 1, Ammon Town Center Division No. 1 First Amended. 3.The City engaged Kirkham Appraisals to evaluate the property, which established an "As Is" Market Value of $345,000 as of May 13, 2026. 4.The parcel is narrow and irregularly shaped, which limits the functional building envelope after consideration of setbacks, parking, landscaping, and stormwater requirements. 5.Access to the subject appears to be provided through the broader Ammon Town Center common-area and reciprocal easement system, rather than through a clearly defined independent driveway or direct curb cut from Hitt Road. 6.Section 1-13-13 of the Ammon Codified Ordinances allows the City Council to surplus property and provides a public process for selling the property. 7.A public auction will be used to surplus the real property, ensuring it is open to the public. 8.Staff recommends the appraised value of $345,000 to be the beginning bid for the property on the public auction website. Financial Impact -If the property is sold by public auction, the proceeds will be allocated back to the fund that owned the asset. In this case, the asset is owned by the Parks Department, therefore the proceeds will go to the Parks Department for reinvestment in Ammon’s parks. Motion “I move to approve Resolution 2026-011, designating Target Park as surplus property, establishing a minimum bid of $345,000, and directing staff to auction the property on the public auction website, PublicSurplus.com.” Attachments: 1.Resolution 2026-011 2.Appraisal of Target Park, completed by Kirkham Appraisals. 3.Title Commitment for Target Park. 2135 South Ammon Rd., Ammon, Idaho 83406 City Hall: (208) 612-4000 www.cityofammon.us Page | 1 Page 53 of 178 CITY OF AMMON BONNEVILLE COUNTY, IDAHO RESOLUTION 2026-011 (Surplus Property) A RESOLUTION RELATING TO REAL PROPERTY LEGALLY KNOWN AS LOT 14, BLOCK 1, AMMON TOWN CENTER DIVISION NO. 1 FIRST AMENDED AND COMMONLY KNOWN AS TARGET PARK; DECLARING TARGET PARK AS SURPLUS PROPERTY; AUTHORIZING AND DIRECTING THE DISPOSAL OF SURPLUS PROPERTY; PROVIDING FOR RELATED MATTERS; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City Ordinances of the City of Ammon provides for declaration of surplus property by resolution; and WHEREAS, the City Council has determined that the surplus property listed in Section 4 is no longer needed by the City; and WHEREAS, the City Council has deemed it unnecessary to maintain ownership of said surplus property; and WHEREAS, Section 1-13-13 of the City Code provides for various methods of disposal or transfer of surplus property; and NOW THEREFORE, be it hereby resolved by the Mayor and City Council of the City of Ammon, Bonneville County, Idaho as follows: Section 1.That the City Council does hereby find that the surplus property listed in Table 1 of this resolution is no longer needed for the day-to-day operations of the City. Section 2.That a copy of this Resolution shall be posted in the Clerk’s Office and subject to examination by any interested party. Section 3. Pursuant to the provisions of Section 1-13-13 of the Codified Ordinances of the City of Ammon, State of Idaho, the surplus property listed in Table 1 of this resolution shall be disposed of or transferred as provided for in section 1-13-13 of the Ammon City Code and the disposal or transfer is in the public interest. Section 4. The real property described in Table 1 shall be publicly auctioned with the beginning auction bid matching the appraised value as shown in Table 1. Section 5.The following items are hereby declared surplus property and shall be disposed of or transferred as directed by Section 3 of this resolution and as permitted by law: Resolution 2026-011 Surplus Property Page 1 of 2 Page 54 of 178 TABLE 1: City Property/Assets for Surplus City Property/Assets Department Legal Description Surplus Value Target Park Parks Lot 14, Block 1, Ammon Town Center Division No. 1 First Amended $345,000 Approved by the City Council of the City of Ammon this 21st day of May, 2026. ____________________________________ Brian Powell, Mayor ___________________________________ Joanna Dahm, City Clerk Resolution 2026-011 Surplus Property Page 2 of 2 Page 55 of 178 (Bus) (208)233-4132 P.O. Box 2503 Pocatello, Idaho 83206 Kirkhamappraisal@gmail.com AN APPRAISAL REPORT OF 0.88+/- Acres of Vacant Land LOCATED AT TBD Hitt Road Ammon, Idaho 83406 CLIENT City of Ammon Page 56 of 178 P.O. Box 2503 Pocatello, Idaho 83206 (Bus) (208)233-4132 May 13, 2026 Mr. Micah Austin City of Ammon Re: TBD Hitt Road Ammon, Idaho 83406 Dear Micah Austin, At your request, we have appraised a real property interest for the above real estate. Our objective was to form one or more opinions about the market value for a 100% ownership interest in the subject property's fee simple estate assuming no liens or encumbrances other than normal covenants and restrictions of record. The subject consists of a vacant commercial land parcel located along the Hitt Road/25th East corridor in Ammon, Bonneville County, Idaho. The site is legally identified as Lot 14, Block 1, Ammon Town Center Division No. 1 First Amended, according to the recorded plat of the subdivision. The parcel contains approximately 38,549 square feet, or 0.88 acres, and is irregular in shape. The site is situated within the broader Ammon Town Center development, an established commercial area that includes large-format retail, supporting commercial uses, internal drive aisles, common areas, and shared access improvements. The subject benefits from exposure along Hitt Road/25th East, one of the primary north-south arterial corridors serving the Idaho Falls and Ammon market area. Hitt Road carries substantial traffic volumes through this portion of the market, providing the subject with good visual exposure from a heavily traveled commercial corridor. This exposure is a positive site characteristic, particularly for commercial uses that benefit from traffic visibility and proximity to established retail activity. Page 57 of 178 However, the subject’s physical configuration and access characteristics create meaningful limitations. The parcel is narrow and irregularly shaped, which limits the functional building envelope after consideration of setbacks, parking, landscaping, stormwater, circulation, and other site-development requirements. As a result, the site would most likely support only a relatively small commercial building or a specialized use capable of functioning on a constrained parcel. These physical limitations may reduce the prospective buyer pool when compared with more regularly shaped commercial sites capable of accommodating conventional retail, office, or service-commercial site plans. Access to the subject appears to be provided through the broader Ammon Town Center common-area and reciprocal easement system, rather than through a clearly defined independent driveway or direct curb cut from Hitt Road. The First Amended Plat establishes the subject’s current lot configuration, but it does not clearly depict a separate dedicated vehicular access point serving Lot 14 directly from Hitt Road. The recorded Declaration of Restrictions and Grant of Easements provides reciprocal, nonexclusive easements for vehicular and pedestrian ingress and egress over the shopping center common areas, which appears to be the likely legal access mechanism for the subject. While legal access appears to be available through the recorded common-area framework, the subject’s functional access is considered inferior to a typical arterial-fronting commercial parcel. Based on the documents reviewed and observed development pattern, access may require circulation through the existing Ammon Town Center internal drive system, including movement around the rear or side of the Target building and use of a one-way access system connected to Hitt Road. This indirect access pattern may limit customer convenience, reduce independent site identity, and create potential wayfinding concerns. Consequently, the subject’s Hitt Road exposure is a positive attribute, but the lack of apparent direct, conventional, two-way arterial access offsets a portion of that benefit. Overall, the site is considered a small, irregular commercial parcel with good corridor exposure but constrained development utility. The combination of limited size, irregular shape, likely reliance on reciprocal common-area access, and indirect circulation is expected to influence the intensity and type of development that can reasonably be supported. The site would most likely appeal to a small-format commercial, office, service, or ancillary retail user that can operate with limited site depth and indirect common-area access, while users requiring direct arterial ingress/egress, strong independent identity, or a more conventional site layout would likely view the property as inferior. Page 58 of 178 This valuation contains analyses, opinions, and conclusions along with market data and reasoning appropriate for the scope of work detailed later herein. It was prepared solely for the intended use and intended user(s) explicitly identified in the attached report. Unauthorized users do so at their own risk. The appraisal is communicated in the attached document, which conforms to the version of the Uniform Standards of Professional Appraisal Practice (USPAP) in effect on this report's preparation date of May 10, 2026. This letter is not an appraisal report hence it must not be removed from the attached 95-page document. If this letter is disjoined from the attached appraisal report, then the value opinions set forth in this letter are invalid because the analyses, opinions, and conclusions cannot be properly understood. In general, valuation of the subject property involves one atypical issue related to access. As discussed in the attached report, the subject appears to rely on the Ammon Town Center reciprocal common-area access system rather than a clearly defined independent driveway or direct curb cut from Hitt Road. All value opinions are affected by all the information, extraordinary assumptions, hypotheses, general limiting conditions, facts, descriptions, and disclosures stated in the attached appraisal report. After careful consideration of all factors pertaining to and influencing value, the data and analysis thereof firmly supports the following final value opinion(s) for the subject property as of May 13, 2026: $345,000 Market Value “As Is” Thank you for your business. Let us know how we may further serve you. Brian Kirkham, MAI Certified General Appraiser Idaho License CGA-3486 License Expiration Date: 5/9/2027 Page 59 of 178 Table of Contents Overview ....................................................................................................... 1 Salient Information ........................................................................................................ 1 Noteworthy Issues ......................................................................................................... 2 Scope of Work .............................................................................................. 3 Scope of Work ............................................................................................................... 3 Introduction .............................................................................................................. 3 Assignment Elements ................................................................................................ 3 Relevant Characteristics .......................................................................................... 5 Extent of Services Provided ...................................................................................... 6 Other Intended Use Considerations ......................................................................... 6 Miscellaneous Matters.............................................................................................. 6 Appraisal Development ............................................................................................ 7 Concept Explanations ............................................................................................... 9 Scope of Work Limitation ........................................................................................... 10 Report Reliance & Use Restrictions ............................................................................ 10 Scope of Work Exclusion - Insurable Value ............................................................... 11 Extraordinary Assumptions & Disclosures.................................................................. 12 Hypothetical Conditions .............................................................................................. 13 Personal Property & Intangibles .................................................................................. 13 Definition of Market Value ......................................................................................... 14 Definition of Real Property Estates ............................................................................. 15 Non-Disclosure State ................................................................................................... 17 Assemblage .................................................................................................................. 17 Disclosures .................................................................................................. 18 Professional Standards ................................................................................................. 18 Competency ................................................................................................................. 18 Area Data ................................................................................................... 19 Regional Map .............................................................................................................. 19 Regional Data .............................................................................................................. 20 Nearby Land Uses........................................................................................................ 36 Bonneville County Residential Market Analysis ......................................................... 37 Commercial Real Estate Outlook — 2025 to 2028 ................................. 39 Executive Summary ..................................................................................................... 39 Macro Drivers to Watch .............................................................................................. 39 Sector-by-Sector Projection (2025–2028) ................................................................... 39 Office ...................................................................................................................... 39 Industrial & Logistics ............................................................................................. 39 Retail ...................................................................................................................... 39 Multifamily ............................................................................................................. 39 Hospitality .............................................................................................................. 39 Data Centers & Life Sciences ................................................................................. 39 Alternatives ............................................................................................................. 39 Key Risks & Upside Scenarios .................................................................................... 40 Practical Investment & Underwriting Takeaways ....................................................... 40 Page 60 of 178 Subject Property ........................................................................................ 43 Identification of the Property ....................................................................................... 43 Legal Description......................................................................................................... 43 Aerial View .................................................................................................................. 44 Plat Map ....................................................................................................................... 45 Most Likely Access Map ............................................................................................. 46 Sale History ................................................................................................................. 50 Flood Hazard ............................................................................................................... 50 Real Estate Taxes ......................................................................................................... 50 Zoning .......................................................................................................................... 51 Environmental Risks .................................................................................................... 52 Subject Description ...................................................................................................... 53 Subject Site .................................................................................................................. 53 Analyses & Conclusions ............................................................................ 55 Value Introduction ....................................................................................................... 55 Real Estate Cycles ....................................................................................................... 56 Highest and Best Use ................................................................................................... 57 Land Value .................................................................................................................. 65 Introduction ............................................................................................................ 65 Summary of Land/Site Sales ................................................................................... 71 Land Sales Location Map ....................................................................................... 73 Analysis & Conclusions .......................................................................................... 74 Value Indication ..................................................................................................... 75 Value Summary ........................................................................................................... 77 Exposure Time ............................................................................................................. 78 Contingent and Limiting Conditions ........................................................................... 79 Certification ................................................................................................................. 86 Addenda ...................................................................................................... 88 Digital Images .............................................................................................................. 88 Technical Qualifications .............................................................................................. 89 Engagement Letter ....................................................................................................... 90 Copyright Protection .................................................................................................... 95 End of Report ............................................................................................................... 95 Page 61 of 178 26-1214 Kirkham Appraisals Inc. Page 1 ♦ Overview • • • Salient Information Property Type 0.88+/- Acres/38,549+/- Square Feet of Vacant Land Real Estate Appraised TBD Hitt Road Ammon, Idaho 83406 County Bonneville Estate Valued 100% of the Fee Simple Estate Client City of Ammon Client File Number 26-1214 Most Likely Buyer Owner-user, small commercial developer, or adjacent/nearby commercial property owner. Effective Value Date (point in time that the value applies) May 10, 2026 Report Date (date the report is transmitted to client) May 13, 2026 Flood Hazard Zone X Zoning Classification HC-1 Highway Commercial Highest & Best Use As Though Vacant Commercial Final Value Conclusion(s) $345,000 “As Is” Page 62 of 178 26-1214 Kirkham Appraisals Inc. Page 2 Noteworthy Issues The subject consists of a vacant commercial land parcel located along the Hitt Road/25th East corridor in Ammon, Bonneville County, Idaho. The site is legally identified as Lot 14, Block 1, Ammon Town Center Division No. 1 First Amended, according to the recorded plat of the subdivision. The parcel contains approximately 38,549 square feet, or 0.88 acres, and is irregular in shape. The site is situated within the broader Ammon Town Center development, an established commercial area that includes large-format retail, supporting commercial uses, internal drive aisles, common areas, and shared access improvements. The subject benefits from exposure along Hitt Road/25th East, one of the primary north-south arterial corridors serving the Idaho Falls and Ammon market area. Hitt Road carries substantial traffic volumes through this portion of the market, providing the subject with good visual exposure from a heavily traveled commercial corridor. This exposure is a positive site characteristic, particularly for commercial uses that benefit from traffic visibility and proximity to established retail activity. However, the subject’s physical configuration and access characteristics create meaningful limitations. The parcel is narrow and irregularly shaped, which limits the functional building envelope after consideration of setbacks, parking, landscaping, stormwater, circulation, and other site-development requirements. As a result, the site would most likely support only a relatively small commercial building or a specialized use capable of functioning on a constrained parcel. These physical limitations may reduce the prospective buyer pool when compared with more regularly shaped commercial sites capable of accommodating conventional retail, office, or service-commercial site plans. Access to the subject appears to be provided through the broader Ammon Town Center common-area and reciprocal easement system, rather than through a clearly defined independent driveway or direct curb cut from Hitt Road. The First Amended Plat establishes the subject’s current lot configuration, but it does not clearly depict a separate dedicated vehicular access point serving Lot 14 directly from Hitt Road. The recorded Declaration of Restrictions and Grant of Easements provides reciprocal, nonexclusive easements for vehicular and pedestrian ingress and egress over the shopping center common areas, which appears to be the likely legal access mechanism for the subject. While legal access appears to be available through the recorded common-area framework, the subject’s functional access is considered inferior to a typical arterial-fronting commercial parcel. Based on the documents reviewed and observed development pattern, access may require circulation through the existing Ammon Town Center internal drive system, including movement around the rear or side of the Target building and use of a one-way access system connected to Hitt Road. This indirect access pattern may limit customer convenience, reduce independent site identity, and create potential wayfinding concerns. Consequently, the subject’s Hitt Road exposure is a positive attribute, but the lack of apparent direct, conventional, two-way arterial access offsets a portion of that benefit. Overall, the site is considered a small, irregular commercial parcel with good corridor exposure but constrained development utility. The combination of limited size, irregular shape, likely reliance on reciprocal common-area access, and indirect circulation is expected to influence the intensity and type of development that can reasonably be supported. The site would most likely appeal to a small-format commercial, office, service, or ancillary retail user that can operate with limited site depth and indirect common-area access, while users requiring direct arterial ingress/egress, strong independent identity, or a more conventional site layout would likely view the property as inferior. Page 63 of 178 26-1214 Kirkham Appraisals Inc. Page 3 ♦ Scope of Work • • • Scope of Work Introduction The Uniform Standards of Professional Appraisal Practice (USPAP) defines scope of work as “the type and extent of research and analysis in an assignment". Scope of work includes, but is not limited to: ➢ the extent to which the property is identified; ➢ the extent to which tangible property is observed; ➢ the type and extent of data researched; and ➢ the type and extent of analyses applied to arrive at opinions or conclusions. Assignment Elements The purpose of this assignment (the problem to be solved) is to form one or more opinions about value. This purpose necessitates identification of seven assignment elements listed below. 1. Client Information Client's Name ** Client's Company Name City of Ammon Appraiser(s) Engaged By The Client Client's Interest in Property Appraised Owner 2. Other Intended Users None 3. Intended Use of Report (To aid) Decisions by Ownership 4. Value Opinion(s) Developed Market value Standard / Definition of Value Used To Form the Value Opinion(s) Advisory Opinion 30 of USPAP, which is the same definition as the one in FIRREA. ** The client is always an intended user. Page 64 of 178 26-1214 Kirkham Appraisals Inc. Page 4 Scope of Work Assignment Elements 5. Key Dates Effective Value Date (point in time the value applies) May 10, 2026 Date Property Appraised Was Observed By One Or More Appraisers Signing This Report Land Observed May 10, 2026 6. Assignment Conditions Extraordinary Assumptions One Or More Apply, Detailed Later Herein Hypothetical Conditions None Used Jurisdictional Exceptions None Used Expected Public or Private On-Site or Off- Site Improvements Affect Value Not Expected Assemblage of Estates or Component Parts Affects Value Not Expected Other None Used Page 65 of 178 26-1214 Kirkham Appraisals Inc. Page 5 Scope of Work Relevant Characteristics The seventh assignment element is relevant characteristics about the property appraised. These characteristics are typically categorized as physical, legal, and economic. Physical attributes of the property appraised are presented later in the Subject section of this report. Some characteristics are identified below. Atypical issues are listed in the Noteworthy Issues section and may be further detailed elsewhere herein. Unless specifically stated otherwise, the estate appraised (listed below) assumes no adverse leases, liens or encumbrances other than normal covenants and restrictions of record. 7a. Physical Existing Property Use Vacant Land Property Use Reflected in One Or More Value Opinions Continued Use As Is Sources of Information About the Property Appraised Included Just An Exterior Observation; Public Records in Government Office 7b. Legal Category Of Property Appraised Real Property Estate(s) Appraised Fee Simple Legal Issues Considered Atypical access/easement issue considered; legal access assumed through the recorded Ammon Town Center reciprocal easement/common-area framework. Environmental Concerns No Known Environmental Concerns 7c. Economic Effect Of Lease(s) On Value No Leases Hence Not Applicable Cost Information Type of Reconstruction Cost Used Not Applicable Source of Reconstruction Cost Information Not Applicable Page 66 of 178 26-1214 Kirkham Appraisals Inc. Page 6 Scope of Work Extent of Services Provided Number of Final Value Opinions Developed One Value Opinion(s) Reflect the Worth Of the Property Appraised As Is Extent Of Report Preparation An Appraisal Report Other Reporting Requirements None Extent Of Data Research Extensive Data Sources Local MLS; Private Data Provider Service; Public Records on Gov’t Website(s); Online Public Records; Other Appraisers; Real Estate Sales Agents; Buyers and / or Sellers; Landlords and / or Tenants Documents Considered Documents considered included the title commitment, First Amended Plat of Ammon Town Center Division No. 1, recorded Declaration of Restrictions and Grant of Easements, assessor records, FEMA flood information, zoning information, traffic-count information, and comparable sale data. Data Verification Direct and Indirect Methods Extent Of Subject Observation by One Or More Appraisers Signing Report Cursory Land Viewing Specifics of this viewing, if any, are detailed in the Extraordinary Assumptions & Disclosures section of this report. Other Intended Use Considerations Client's Prior Engagement Of Appraisal Services Several Loan To Value Ratio Unknown Atypical Issues See Access Assignment Complexity Complex Because of Access Issues FIRREA Compliance Not Applicable Insurable Value Insurable Value Is Not an Intended Use Miscellaneous Matters Scope of Work Agreement Agreement in Addenda Page 67 of 178 26-1214 Kirkham Appraisals Inc. Page 7 Scope of Work Appraisal Development Appraisal development is the extent of research and analyses that produce one or more credible opinions of value for one or more specifically identified intended users and an explicitly stated intended use. In this context, credible is defined as "worthy of belief". Depending upon the intended use, intended users, and agreements between the appraiser and the client, the appraisal development process may include several, but not necessarily all of the following tasks. ➢ observation of the property appraised ➢ research for appropriate market data ➢ data verification ➢ consideration of influential market area, physical, economic, and governmental factors ➢ determination of the subject’s highest and best use(s), if appropriate ➢ development of one or more applicable approaches to value ➢ reconciliation of value indications ➢ preparation of this report In most cases, the core valuation process begins with a highest and best use analysis. This is essential because it establishes a framework for the proper selection of comparables. Cited comparables should have the same highest and best use as the property appraised. Page 68 of 178 26-1214 Kirkham Appraisals Inc. Page 8 Scope of Work Appraisal Development If some property modification like new construction is contemplated, a feasibility analysis may be appropriate. In some cases, feasibility may simply be justified by inferred market evidence like low vacancy or rising rents. According to USPAP, all approaches that are applicable to the interest being appraised and necessary to produce credible results must be developed. The type of highest and best use; extent of feasibility considered; and the relevance of each major approach are listed below. Highest and Best Use An Inferred Demand Analysis Feasibility Analysis (a more detailed study separate from highest & best use) Separate Feasibility Analysis Not Developed Cost Approach Not Applicable and Not Included in Report Sales Comparison Applicable and Included in Report Income Approach Not Applicable and Not Included in Report Quoting "The Appraisal of Real Estate" Thirteenth Edition published by the Appraisal Institute, page 186 says: "Highest and best use analysis and feasibility analysis are interrelated, but feasibility analysis may involve data and considerations that are not directly related to highest and best use determinations. Such analyses may be more detailed than highest and best use analysis, have a different focus, or require additional research." Applicable and necessary approaches were selected for development after consideration of available market data, intended use, and intended user(s). An approach considered not applicable was omitted because this methodology is not appropriate for the property interest being appraised, or sufficient data to properly develop the approach was not available. Any approach judged not applicable, yet included in this report, was developed solely at our client’s request. Data used to develop an inapplicable but included approach has a low to nil degree of comparability to the subject. Hence, no emphasis was given an approach deemed not applicable but included. Furthermore, no liability or responsibility is assumed for an approach considered not applicable but included at the client's request. Page 69 of 178 26-1214 Kirkham Appraisals Inc. Page 9 Scope of Work Concept Explanations Intended use and all intended user(s) should be weighed heavily during the scope of work decision. A single intended user who frequently engages appraisal services is likely very knowledgeable about the appraisal process. For this type user, the appraisal development and reporting for less complex property types might be toward the lower end of the spectrum. By contrast, multiple intended users, especially those with opposing motivations, likely need extensive appraisal development and reporting. Litigation is a prime example when a thorough appraisal development and detailed reporting is warranted. A loan to value ratio reflects risk. For commercial-grade loans, ratios over 75% are generally regarded as risky. If a contemplated loan is viewed as risky, then the extent of appraisal development and the level of report detail should be more comprehensive. Similarly, more complex properties generally warrant more thorough analyses and more extensive report details. Prior engagement of appraisal services by a client implies a level of awareness about the appraisal process. A greater awareness may justify a less thorough level of report detail whereas the opposite is true for an individual who has never engaged an appraisal. A Jurisdictional Exception is an assignment condition, which voids a portion of USPAP that is contrary to law or public policy. When a Jurisdictional Exception applies, only the contrary portion is void. The remainder of USPAP remains in full force and effect. Jurisdiction Exceptions always shrink USPAP, not expand it. Data verification affects reliability. Direct data verification confirms information used in the report with one or more parties who have in-depth knowledge about physical characteristics for the property being appraised or related financial details. Indirect verification employs information obtained from a secondary source like a data reporting service, a multiple listing service, or another appraiser. Direct verification is generally more time-consuming and costly, but also more reliable. Information from all data sources was examined for accuracy, is believed reliable, and assumed reasonably accurate. However, no guaranties or warranties for the information are expressed or implied. No liability or responsibility is assumed by Kirkham Appraisals Inc. or the appraiser(s) for any inaccuracy from any seemingly credible information source. Page 70 of 178 26-1214 Kirkham Appraisals Inc. Page 10 Scope of Work Concept Explanations A statement about observation of the subject property by the appraiser(s) is listed above. If the subject was observed, this viewing was not as thorough as a professional property inspection. A professional inspector determines the precise physical condition, remaining useful life, and operability of major building components like the structural system, roof cover, electrical system, plumbing, and heating plant. Inspectors typically do not ascertain size of the building, or characteristics of the land. By contrast, an appraiser commonly ascertains both land and building size. Ordinarily, appraisers do not determine operability, or remaining useful life of building systems. An appraiser typically views real estate to determine only general attributes like physical condition of the building as a whole, site topography and access, building size, construction quality, floor plan, and functionality of the property as a whole. For this appraisal, no probes, investigations, or studies were made to discover unapparent, adverse physical features. Highest and best use analyses can be categorized into two groups - inferred and fundamental. A fundamental analysis is quantified from broad demographic and economic data such as population, household size, and income. Supply is inventoried. Subject specific characteristics are considered. Then, the relationship between supply and demand is weighed to determine a specific highest and best use for the subject. An inferred analysis uses local trends and patterns to infer a general highest and best use for the subject. For an inferred analysis, market dynamics that might be considered include prices, market exposure times, rents, vacancy, and listings of similar real estate. Inferred analyses emphasize historical data while fundamental analyses are based on future projections. The kind of highest and best use analysis utilized in this assignment is listed above. Scope of Work Limitation All readers of this report should be aware the foundation, for conclusions communicated herein, was based on and limited to an inferred market analysis, not a fundamental market study. Our scope of work agreement with our client does not include a detailed fundamental analysis. A fundamental analysis forecasts demand from broad demographic and economic data like population and income. Existing supply is inventoried. Then the relationship of supply and demand is weighed to determine net demand. An inferred analysis is based on local trends and patterns from which inferences are made. Sales, listings, marketing intervals, and/or price change for other similar land infer there is adequate demand for the subject parcel at a price level congruous with this data. If the client desires an in-depth analysis regarding the subject’s marketability, potential alternate uses, or a numeric demand analysis, it is suggested a detailed fundamental market analysis be prepared. Report Reliance & Use Restrictions No liability is assumed, expressed, or implied by Kirkham Appraisals Inc., or the appraiser(s) for unauthorized use of this report. Only those persons, parties, entities, companies, corporations, partnerships, associations, or groups that are explicitly identified as an intended user on page 3 may rely on and use this report. There are no implied, suggested, inferred, consequential, or indirect intended users of this report. Unauthorized users should not use or rely on any portion of this document. Unauthorized users do so at their own risk and peril. Page 71 of 178 26-1214 Kirkham Appraisals Inc. Page 11 Scope of Work Exclusion - Insurable Value The cost approach may or may not have been developed herein. Unless explicitly stated otherwise, the cost approach was developed solely to support the subject's market value. Use of this appraisal, in whole or part, for another purpose is not an expected intended use. Nothing in this appraisal should be used or relied upon to determine the amount or type of insurance coverage to be placed on the subject property. The signatory / signatories to this report assume no liability for, and do not guarantee that any insurable value inferred from this report will result in the subject property being adequately insured for any loss that may be sustained. Since labor costs, material costs, building codes, construction intervals, and governmental regulations are constantly changing, the cost approach may not be a reliable indication of replacement or reproduction cost for any date other than this report's effective value date. Page 72 of 178 26-1214 Kirkham Appraisals Inc. Page 12 Extraordinary Assumptions & Disclosures An extraordinary assumption is defined by the Uniform Standards of Professional Appraisal Practice (USPAP) to be “an assumption, directly related to a specific assignment, as of the effective date of the assignment results, which, if found to be false, could alter the appraiser’s opinion or conclusions”. Extraordinary assumptions presume as fact otherwise uncertain information. In other words, this type of assumption involves uncertainty about an underlying premise. An example is a survey that displays a lot size. If the lot size is later found to be much smaller, then the value conclusion may be negatively affected. USPAP Standard Rule 1-2(f) requires the identification of all extraordinary assumptions that are necessary for credible assignment results. This appraisal employs the following extraordinary assumptions. ➢Features of the subject site such as legal description, dimensions, size, etc. were obtained from publicly available sources. All information taken therefrom is assumed reasonably correct. ➢Observation of the subject was limited to a moderate viewing of the entire property. It is assumed the land has no subsoil defects. No soil borings were made. Furthermore, the appraiser(s) did not attempt to study, dig, probe, investigate, detect, remove materials, or discover unfavorable physical features on, above, or below the ground. ➢Real estate tax information for the subject was obtained from a reputable online source, so it is assumed reasonably correct. Moreover, this information is assumed the most recent that is expeditiously available to the public. ➢Based on review of the title commitment, First Amended Plat, and recorded Declaration of Restrictions and Grant of Easements, Lot 14 appears to be part of the Ammon Town Center reciprocal easement/common- area framework. The Declaration provides nonexclusive vehicular and pedestrian ingress and egress rights over common areas within the shopping center. However, the plat does not clearly depict a separate direct vehicular access point from Hitt Road to Lot 14. Therefore, this appraisal assumes that legal vehicular and pedestrian access is available through the recorded Ammon Town Center reciprocal easement system. If this assumption is found to be incorrect, the opinions and conclusions contained herein could be materially affected. The appraiser is not providing a legal opinion regarding access rights. Legal access should be confirmed by legal counsel, the title company, or an ALTA survey. ➢A public water system and public sewer main are available near the subject's lot lines. This appraisal assumes these systems possess sufficient capacity to serve the intended use of the subject improvements, if any. This appraisal also assumes the water is potable and non-contaminated. If these systems were inadequate to serve the subject's intended use, then the subject's value and marketability would be adversely affected. ➢Assumptions and presumptions discussed in the Noteworthy Issues section of this report, if any, are incorporated by way of reference into these Extraordinary Assumptions & Disclosures. ➢A recently issued title policy was not furnished to the appraiser(s). If a value-impairment is identified or suggested in a title policy, another professional report, or some other document, this appraisal does not address issues that are significantly atypical for a valuation of this type of property unless specifically identified in the Scope of Work and/or Noteworthy Issues section of this report. The above extraordinary assumptions as well as other assumptions anywhere herein are integral premises upon which the conclusions in this document are based. If any of these assumptions are later found to be materially untrue or inaccurate, then this report’s assignment results may or may not be affected. Page 73 of 178 26-1214 Kirkham Appraisals Inc. Page 13 Hypothetical Conditions USPAP defines a hypothetical condition as “a condition, directly related to a specific assignment, which is contrary to what is known by the appraiser to exist on the effective date of the assignment results but is used for the purpose of analysis." Hypothetical conditions assume conditions that are contrary to known fact. An illustration is the current valuation of a proposed home. For the purpose of a rational analysis, it is assumed the home exists on the effective value date, but it is known the home is nonexistent. Another example is a new zoning classification, that a property does not have today, but the new zoning is assumed for the purpose of a logical current valuation. Uncertainty is not involved with a hypothetical condition. An essential premise underlying the valuation is known not to exist on the effective value date. USPAP Standard Rule 1-2(g) requires the identification of all hypothetical conditions that are necessary for a credible value opinion. This appraisal employs no hypothetical conditions. Personal Property & Intangibles Personal property is movable and not permanently affixed to the real estate. Examples of personal property are freestanding ranges, refrigerators, tables, desks, chairs, beds, linen, silverware, hand tools, and small utensils. An intangible is a nonphysical asset like franchises, trademarks, patents, goodwill, and mineral rights. Personal and intangible property included in this appraisal's value opinion, if any, is considered typical for this type of real estate, yet insignificant to the value opinion. Therefore, non-realty is not itemized or valued herein. Moreover, this report’s final value conclusion(s) excludes unaffixed equipment, detached trade fixtures, and chattel unless specifically stated to the contrary. Page 74 of 178 26-1214 Kirkham Appraisals Inc. Page 14 Definition of Market Value The definition of market value is used in all federally regulated transactions that exceed a minimum amount. This definition is mandated by Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989. The exact same definition was published in the Federal Register several times by different federal agencies. Some printings are: 12 C.F.R. Part 34.42(g); 55 Federal Register 34696, August 24, 1990, as amended at 57 Federal Register 12202, April 9, 1992; and 59 Federal Register 29499, June 7, 1994.) Federal agencies publishing the exact same definition include the •Office of the Comptroller of the Currency (OCC) as 12 CFR 34, subpart C •Federal Reserve Board (FRB) as 12 CFR 225, Subpart G •Federal Deposit Insurance Corporation (FDIC) as 12 CFR 323.2, Definition (g) in 55 Federal Register, 33,888 August 20, 1990, Effective September 19, 1990. •Office of Thrift Supervision (OTS) as 12 CFR 564 •National Credit Union Administration (NCUA) as 12 CFR 722 The exact same definition was again published jointly by the OCC, OTS, FRS, and FDIC on page 61 of the “Interagency Appraisal and Evaluation Guidelines". These guidelines were published in the Federal Register on December 10, 2010, as Volume 55, page 77472. All the above citations defined market value as: “the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition are the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: •buyer and seller are both typically motivated; •both parties are well informed or well advised, and acting in what they consider their own best interests; •a reasonable time is allowed for exposure in the open market; •payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and •the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale." Virtually the same definition is also cited in Advisory Opinion 30 in the Uniform Standards of Professional Appraisal Practice (USPAP). Page 75 of 178 26-1214 Kirkham Appraisals Inc. Page 15 Definition of Real Property Estates One or more of the following underlined legal estates or interests are valued in this report. Definitions of three estates, quoted immediately below, are from The Dictionary of Real Estate Appraisal, 6th Edition; published by the Appraisal Institute, copyright 2015. • Fee Simple Estate "Absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power, and escheat." • Leased Fee Estate "The ownership interest held by the lessor, which includes the right to receive the contract rent specified in the lease plus the reversionary right when the lease expires." • Leasehold Estate "The right held by the lessee to use and occupy real estate for a stated term and under the conditions specified in the lease." The words "Leased Fee Estate" constitute a real estate term. This term is not defined in Black's Law Dictionary, the Deluxe Eight Edition. However, leased fee estate is defined by USLegal.com as: "an ownership interest held by a landlord with the right of use and occupancy conveyed by lease to others; usually consists of the right to receive rent and the right to repossession at the termination of lease." In effect, the definitions of "lease fee estate" by the Appraisal Institute and USLegal.com are equivalent. Chicago Title Insurance Company, one of the largest in the country, does not use the term "Lease Fee Estate" in their title insurance policies. Chicago Title does insure the "Fee Simple Estate Subject to the Leases". For all practical purposes, the terms "Leased Fee Estate" and "Fee Simple Estate Subject to the Leases" are equivalent. Market value of the leased fee estate represents the worth of real property to the landlord (the lessor) as encumbered by terms set forth in one or more leases. A leasehold estate is the tenant’s (the lessee's) interest in real property. A lease is an encumbrance because it limits or precludes the landlord’s right of use. If a property is unencumbered, then usage of the term "fee simple estate" could be strictly or narrowly interpreted to mean the property is not encumbered by lease. If there are no leases for a multitenant facility, then the building has no lease income. Under this interpretation, the value of the fee simple (VFS) would be less than the value of the leased fee (VLF). Accordingly, the VFS < VLF because lease-up costs must be paid by a buyer to find tenants. In effect, total lease-up cost would constitute a penalty to the property's value imposed by a buyer. Components of a total lease-up cost include leasing commissions, rent loss, concessions, tenant improvements, any other cash expenditures, and buyer incentive to undertake the risk of lease-up. Page 76 of 178 26-1214 Kirkham Appraisals Inc. Page 16 Definition of Real Property Estates According to the Appraisal Institute course General Appraiser Income Approach, Part 2 - page 231, there are two interpretations of the term "fee simple estate". A second interpretation for fee simple estate is a value-oriented definition used by many real estate appraisers. For valuation purposes, market value of the fee simple is the worth of the property assuming it is already leased at market rent to a level of stabilized occupancy. Under this interpretation, the VFS ≥ VLF because lease-up costs to find tenants are already paid. An extremely important concept in the valuation of leases is the relationship between market rent or income (IFS) and contract rent, the rent stated in a lease (ILF). If the contract rent is below market rent (ILF < IFS), the tenant enjoys an advantageous position called a positive leasehold interest. Then, the value of the leased fee is usually less than the value of the fee simple (VLF < VFS). If contract rent exceeds market rent (ILF > IFS), then the landlord has an advantage while the tenant has an unfavorable position called a negative leasehold interest. When contract rent equals market rent, then the numerical value of these two estates is equal but the rights of each estate are distinctly different. In essence, the difference interpretations for the fee simple estate involve lease-up costs. If fee simple is interpreted to mean no leases encumber the property, then a buyer of a multitenant facility would incur lease-up costs. These costs would likely be substantial so a prospective buyer would penalize the property by the amount of the total lease-up cost, which is detailed above. If fee simple is interpreted to mean the value of real property already leased up to stabilized occupancy at market rent, then no lease-up is necessary so no lease-up penalty is appropriate. For valuation purposes in this report, three estates are defined below. •Market value of the fee simple estate for a single-user property like a one-user building or vacant land represents the worth to the most probable buyer via the sales comparison approach. Income generation on a rental basis is not an important factor to this buyer. Property suitability for the buyer's own use or use control are the primary purchasing criteria. Lease-up costs are not relevant. In this context, fee simple means the property is not encumbered by lease. •The fee simple estate for a multiple-tenant facility is different from the one immediately above. A different interpretation is appropriate for a building designed to generate real estate rental income like a shopping center or apartment building. This estate for this type property is defined as the worth to the most probable buyer assuming the property is already leased to a level of stabilized occupancy at normal market terms including market rent. Lease-up costs are assumed already paid so a lease-up penalty is not appropriate. •An investment grade, leased, single-user building is best valued in a fashion that is similar to a multiple- tenant property. Hence, the interpretation for fee simple in the immediately preceding paragraph is best for an investment grade, leased, single-user building. •Market value of the leased fee estate is defined as the worth of real property to its current owner as encumbered by terms specified in one or more leases. •Lastly, a leasehold estate is defined as one tenant’s interest in real property as defined by a lease. These definitions are crucial valuation concepts in this report. Page 77 of 178 26-1214 Kirkham Appraisals Inc. Page 17 Non-Disclosure State Idaho is a non-disclosure state. This means essential information like grantor, grantee, sale prices and sale dates for real estate transactions are not listed in public records. Hence, appraisers must gather key details from parties involved who have no incentive to cooperate. Often appraisers are compelled to obtain the information from secondary sources. This lessens reliability of the data and lengthens the time required to complete a proper appraisal. Kirkham Appraisals Inc. discloses it made reasonable attempts, within the context of the scope of work, to obtain all key information from seemingly reliable sources; but common sense suggests some data may not be completely accurate. Assemblage USPAP Standard Rule 1-4(e) requires an analysis of the assemblage of various estates or component parts that affect value. In this case, no assemblage is expected so value is not affected. Page 78 of 178 26-1214 Kirkham Appraisals Inc. Page 18 ♦ Disclosures • • • Professional Standards All leading professional appraisal organizations, the U.S. Congress, all state legislatures, and numerous legal jurisdictions recognize the Uniform Standards of Professional Appraisal Practice (USPAP), promulgated by the Appraisal Foundation. Revised biennially to keep it contemporary, these standards set forth ethical practices and proper procedures for a competent appraisal. This appraisal fully complies with all relevant portions of the USPAP version in effect on the report date. It also complies with the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA), a federal law. The report date is shown in the Salient Information. Competency The person signing this report is licensed to appraise real property in the state the subject is located. I affirm I have the experience, knowledge, and education to value this type property. I have previously appraised similar real estate. Page 79 of 178 26-1214 Kirkham Appraisals Inc. Page 19 ♦ Area Data • • • Regional Map Page 80 of 178 26-1214 Kirkham Appraisals Inc. Page 20 Regional Data Page 81 of 178 26-1214 Kirkham Appraisals Inc. Page 21 Page 82 of 178 26-1214 Kirkham Appraisals Inc. Page 22 Page 83 of 178 26-1214 Kirkham Appraisals Inc. Page 23 Page 84 of 178 26-1214 Kirkham Appraisals Inc. Page 24 Page 85 of 178 26-1214 Kirkham Appraisals Inc. Page 25 Page 86 of 178 26-1214 Kirkham Appraisals Inc. Page 26 Page 87 of 178 26-1214 Kirkham Appraisals Inc. Page 27 Page 88 of 178 26-1214 Kirkham Appraisals Inc. Page 28 Page 89 of 178 26-1214 Kirkham Appraisals Inc. Page 29 Page 90 of 178 26-1214 Kirkham Appraisals Inc. Page 30 Page 91 of 178 26-1214 Kirkham Appraisals Inc. Page 31 Page 92 of 178 26-1214 Kirkham Appraisals Inc. Page 32 Environmental Issues A visual inspection of the property did not reveal any apparent environmental issues or concerns. While the appraiser has inspected the subject property, he is not qualified to detect hazardous substances whether by visual inspection or otherwise, nor qualified to determine the effect, if any, of known or unknown substances present. The final value estimate is based on the subject being free of hazardous waste contamination. Parties desiring more precise and reliable information may wish to engage a professional environmental consultant to conduct an environmental assessment. Should such assessment indicate an adverse condition is present that has not been addressed by this appraisal; the conclusion of this appraisal may need revision. General Area Data and Trends The subject property is located in the corporate jurisdiction of the City of Ammon, Bonneville County, Idaho, within the greater Idaho Falls–Ammon market area. Bonneville county consists of approximately 1,901+/- square miles with the topography typically classified as generally level to moderately sloping with scenic mountains surrounding the area and providing recreation amenities. The Snake River runs through Idaho Falls and Bonneville County. Idaho Falls/Ammon is located in Eastern Idaho approximately 25 miles north of Blackfoot, and approximately 25 miles south of Rexburg. Idaho Falls has emerged as the economic hub for this region of the state. Idaho Falls is located along the I-15 corridor, which runs north to south. The area encompasses both Idaho Falls and Ammon Cities. Idaho Falls is the county seat of Bonneville County. Idaho Falls has seen major growth over the past several decades and is now the largest metro on the eastern side of the state. Most commercial growth in the area has occurred along, East 17th Street, 25th East, 35th East, 45th East, and Sunnyside Road. Periphery areas outside of Idaho Falls and Ammon have also seen growth, but mainly in residential developments. The cities of Idaho Falls and Ammon are located close together in southeast Idaho in a valley surrounded by mountains on the east side. The cities are at an altitude of 4,700 feet in the western foothills of the Rocky Mountains near the Oregon Trail. One main railway, Interstate 15, Highway 20, and Highway 26 intersect the city. The two cities had a combined population of 82,894 reported in the 2020 census. This was an annual growth rate of approximately 2.01%. The estimated population for the two cities as of 2022 was 86,777. The interior of the cities is primarily built up, but growth is occurring on the periphery of the cities both in and out of city limits. Most growth areas have been annexed into the city, but there are portions that are still considered county properties. So the county tabulation is also important. Page 93 of 178 26-1214 Kirkham Appraisals Inc. Page 33 Bonneville County had a 2020 reported population of 123,964, which is an annual increase of 1.75%. Idaho Falls and Ammon represent approximately 67% of the county’s total population. The 2020 mean household size for Bonneville County was 2.87 individuals with a total of 45,214 housing units. Bonneville County has a civilian labor force of 65,807 individuals with a 2.7% unemployment rate. The unemployment rate for Bonneville County, like most of the state has decreased over the past several years, with a slight uptick in the latter part of 2022. The median income for the county was reported at $64,928 in 2023. Although Bonneville County has a lower than average median income, the cost of living of the county is well below state and national averages. The Idaho National Laboratory is a major employer both through government employment and contracted services. Built in 1949, INL currently employs approximately 3,900 people with an additional 350 interns and many contractors including Battelle Energy Alliance and Bechtel BWXT. It is one of the major economic drivers in the geographic area. Page 94 of 178 26-1214 Kirkham Appraisals Inc. Page 34 According to the SOCDS Database, building permits for 2023 were the highest they have been in the past several years. The population continues to grow. Both the commercial and residential markets in Eastern Idaho have seen increases since the recession of 2008. Although Eastern Idaho doesn’t typically see the high appreciation and construction rates that occur in larger metro areas, it is also insulated somewhat to the large declines. As with most areas of Idaho, Bonneville County is expected to continue to see growth in population and employment. Idaho was reported as the 2nd fastest growing state in the Union behind only Nevada. Idaho State University (ISU) was among the fastest growing of the four academic institutions of higher education in the State of Idaho. Annually, there is approximately 12,319 students enrolled in the 124 Baccalaureate, 50 Masters and nine Doctoral programs. ISU had an outstanding School of Applied Technology that was the largest post- secondary technical institute in the state of Idaho, providing technical and career-oriented educational opportunities. Idaho State University has a satellite center in Idaho Falls. The City of Idaho Falls has two libraries, 31 parks, two golf courses, a swimming complex and small zoo. The College of Eastern Idaho is also located in Idaho Falls with an enrollment of 2,156 students in fall of 2022. All students are enrolled in undergraduate programs. The subject is located within the HC-1 Highway Commercial District under the City of Ammon zoning ordinance. This district is intended to accommodate commercial uses that benefit from visibility, traffic exposure, and access along major arterial and highway-oriented corridors. The zoning is generally supportive of retail, service, office, restaurant, and other commercial uses designed to serve both local residents and the traveling public, subject to applicable City of Ammon development standards, permitted-use limitations, parking requirements, setbacks, landscaping, access controls, and site-plan review. The subject is situated along Hitt Road/25th East, a major commercial arterial serving the Idaho Falls–Ammon market area. Surrounding development includes established retail, service-commercial, office, and supporting neighborhood uses within the broader Ammon Town Center commercial area. The HC-1 zoning is consistent with the subject’s arterial frontage and commercial setting; however, the subject’s irregular shape and limited functional building envelope may influence the scale and type of commercial development that can reasonably be accommodated on the site. Following the recession, commercial and mixed-use land values experienced a decline but have demonstrated a steady recovery since approximately 2012, supported by consistent population growth and regional economic expansion. Commercial growth has primarily occurred along the peripheral areas of the city as new land is annexed, with the most notable expansion taking place in the northern and southern sections of Idaho Falls and Ammon. These growth patterns have contributed to increased demand for well-located mixed-use development sites such as the subject property. Page 95 of 178 26-1214 Kirkham Appraisals Inc. Page 35 Market Delineation: According to Market Analysis for Real Estate Second Edition page 534, “A market area is defined by the specific use or uses of the property and the users it is likely to attract. The tenants and clientele who constitute the demand for the mix of uses in the subject tract will not all be drawn from areas with identical boundaries. Available data often have to be adjusted to correspond to the market areas defined by the location of property users.” The market area is the physical area where similar properties effectively compete. It can also be envisioned as the area that contains all the primary competition, and in certain cases, some secondary competition. Market areas may contain one or more neighborhoods, districts, cities, counties, or states. Market Area Boundaries North Bonneville County East Bonneville County South Bonneville County West Bonneville County Demographics Physical Area Bonneville County Recent Population Level About stable near 133,644 Household Income About stable near $79,068 Local Unemployment Physical Area Bonneville County Recent Pattern About stable Approx. Current Percent 3.2% (Bureau of Labor Statistics) Financing (for real estate like subject) General Loan Availability Ample availability; requirements mildly difficult Interest Rate Range 5.00% to 10.00% Typical Loan-to-Value Ratio 70% to 75% Typical Amortization Years 15 to 20 years Loan Maturity / Balloon 5 years Page 96 of 178 26-1214 Kirkham Appraisals Inc. Page 36 Expected Change in Economic Base The area is growing, with 1% growth in population and households over the past several years expected to continue. Protection from Adverse Conditions Average Demand for Real Estate Like Subject Moderate Building Age Range 0 to 80 Years Oversupply of Property Like Subject Eastern Idaho has a large amount of land on the market. General Appearance of Property Average Location Average, Suburban Land Use Change Unlikely Police and Fire Protection Average Expressway Access Average Employment Centers Under 1 mile Property Compatibility Average Overall Appeal to Market Average Proximity Features Nearby Land Uses Single-Unit Residential Multiple-Unit Residential Retail / Commercial Office Industrial Agriculture Vacant Land Other ---------------- Total 45% 10% 5% 5% 5% 20% 10% 00% ------ 100% Other Description: The subject is located on the east side of Hitt Road at the south exit of the Target. Page 97 of 178 26-1214 Kirkham Appraisals Inc. Page 37 Bonneville County Residential Market Analysis Physical Area Bonneville County Foreclosures & Short Sales Shrinking portion of all sales New Construction Single Family Expected to Decrease in 2025 In real estate, average sale price is often greater than the median. If the ratio of the average sale price to the median price (shown in last column) significantly changes from prior periods, the distribution of sales may be the real cause of the price change, and not true price appreciation or depreciation. Further analysis is necessary. Expected Near Future Price Change Typical increases expected over the next several years. Overall Supply & Demand of Housing Near equilibrium Page 98 of 178 26-1214 Kirkham Appraisals Inc. Page 38 Real Estate Like Subject (Land) Sales Market New Construction Not Applicable Inventory of Competing Property for Sale Some Expected Near Future Price Change Most Likely Remain Stable Marketing Times Stable Overall Market Conditions Fairly Stable assuming no major political or financial disastors The residential market had seen increases in median and average home values since 2012. 2021 and 2022 have brought large increases in value to residential properties. Interviews with agents in the market area indicate there was a shortage of supply of residential homes, which fueled the current residential value growth. New construction starts have increased since 2014 but decreased in 2023. Growth in the area is expected to continue increasing over the next several years. The federal funds rate for May of 2017 was 1.0%, and went to 0% during the pandemic, and increased to 5.25-5.50%. The current rate is 4.25-4.50%. The increase in the federal funds rate has had a significant effect on mortgage rates and real estate activity has slowed. The federal reserve has eased monetary policy over the last several meetings, bringing down the federal funds rate. Mortgage rates have not yet seen similar decreases, mostly due to bonds and treasury yields. Page 99 of 178 26-1214 Kirkham Appraisals Inc. Page 39 Commercial Real Estate Outlook — 2025 to 2028 Executive Summary Commercial real estate (CRE) is moving from shock into selective recovery. Macro easing (gradual Fed rate cuts priced in during 2025–26), improving liquidity, and resilient occupier demand in several sectors mean transaction activity and cash-flow growth should pick up — but performance will be highly sector-specific. Office faces the slowest and most uneven recovery; industrial, data centers, life-science, and certain grocery-anchored retail/multifamily niches look structurally stronger; hospitality is recovery-sensitive to travel demand. Major downside risks are a sharper rise in rates, weaker growth, or credit stress around maturing mortgages. Macro Drivers to Watch • Interest rates & lending — CRE is still interest-rate sensitive. Gradual cuts 2025–26 could support refinancing and transaction activity, but higher-for-longer rates would stress valuations. • Economic growth & consumer demand — Supports retail, multifamily, and lodging. Weakness would hurt discretionary retail and hotels. • Supply shifts & construction — New supply has slowed in several sectors (office, industrial), supporting fundamentals. • Structural change — E-commerce, hybrid work, cloud computing, and onshoring continue to shift demand across asset classes. Sector-by-Sector Projection (2025–2028) Office Gradual improvement in leasing and transaction activity for well-located, core-quality office. Older/secondary CBD stock will struggle with prolonged vacancy. Expect slow recovery and continued tenant concessions. Industrial & Logistics Demand normalizes toward pre-pandemic drivers. Modern logistics and last-mile remain tight; older warehouse stock faces vacancy. Fundamentals stay solid but with moderated growth. Retail Necessity-based retail (grocery, neighborhood centers) remains stable. Large enclosed malls and discretionary formats need repositioning but can recover in strong tourism/experiential markets. Multifamily Demand supported by demographics and affordability pressures. Construction slowdown tightens future supply. Competitive returns but valuations sensitive to cap rates. Hospitality Leisure travel supports recovery; urban/conference hotels slower. Sensitive to GDP and consumer spending fluctuations. Data Centers & Life Sciences Structural growth driven by cloud computing and biotech R&D. Supply constraints and long leases favor experienced operators. Alternatives Self-storage, student housing, and senior housing provide niche resilience with steady investor demand. Page 100 of 178 26-1214 Kirkham Appraisals Inc. Page 40 Key Risks & Upside Scenarios Downside risks: higher-for-longer real rates, recession, and tighter lending standards could drive distress. Upside: smoother Fed easing, stronger GDP/job growth, and falling cap-rates would renew acquisition activity. Practical Investment & Underwriting Takeaways • Stress test loan maturities — especially 2025–2027 refinancing windows. • Quality and location premium — modern, flexible assets will outperform. • Opportunistic windows — secondary office and retail offer higher returns if repositioned. • Specialty sectors — data centers, life sciences, and logistics remain strategic allocations. Page 101 of 178 26-1214 Kirkham Appraisals Inc. Page 41 Idaho Falls–Ammon Commercial Land Market Analysis Market Overview The Idaho Falls–Ammon market continues to function as the primary economic hub for Eastern Idaho, supported by sustained population growth, regional in-migration, and stable employment fundamentals. A key driver remains the Idaho National Laboratory (INL), which continues to influence demand for industrial, technical, and support- service real estate. Recent brokerage and investor sentiment (including regional reports from firms such as TOK Commercial and Colliers) indicate that while overall transaction volume has moderated due to elevated interest rates, leasing activity and long-term investor interest remain stable, particularly in secondary and tertiary markets like Eastern Idaho where pricing remains attractive relative to larger metros. Market Strengths •Institutional employment base: Continued federal and private-sector investment tied to INL supports demand across industrial, office, and service sectors. •Population and housing growth: Bonneville County continues to experience steady growth, supporting retail, service-commercial, and mixed-use land demand. •Peripheral expansion and annexation: Most new commercial development has occurred on the edges of Idaho Falls and Ammon, where land is annexed and infrastructure is extended, particularly along major corridors. •Relative affordability: Commercial land pricing remains below primary Idaho markets such as Boise, allowing for higher potential development spreads and yield opportunities. •Diverse growth nodes: Expansion has been concentrated in the northern and southern sections of Idaho Falls and Ammon, where new subdivisions, retail nodes, and industrial developments are occurring. Market Weaknesses & Risks •Capital markets headwinds: Elevated borrowing costs have slowed land transactions and increased required developer returns, extending holding periods. •Development cost pressure: Continued volatility in construction costs and site development expenses (grading, utilities, off-site improvements) can materially impact feasibility. •Limited market depth: Compared to larger MSAs, the Idaho Falls market has lower liquidity, particularly for larger commercial land tracts. •Entitlement and infrastructure timing: Zoning, annexation, and infrastructure extension can delay development, particularly in peripheral growth areas. •Economic concentration: While stable, the market remains somewhat reliant on major employers such as INL and regional healthcare systems. Pricing & Absorption Observations Commercial land pricing continues to vary significantly based on location, visibility, access, and development readiness: •Small infill commercial sites (±0.25–1.0 acre): Typically range from $200,000 to $800,000, depending on frontage and utility availability. •Intermediate commercial parcels (±1–5 acres): Commonly range from $300,000 to $800,000 per acre, with premiums for signalized intersections and high- traffic corridors. •Large commercial or mixed-use tracts (±5–15+ acres): Can range from $1.5 million to $4.0+ million total, depending on entitlement status, infrastructure, and development potential. Absorption has slowed moderately due to interest rate conditions; however, well-located, development-ready parcels continue to transact, particularly those with completed entitlements and utilities in place. Page 102 of 178 26-1214 Kirkham Appraisals Inc. Page 42 Market Participant Behavior Buyers / Developers: • Prioritize entitled or shovel-ready sites with utilities in place to reduce development risk • Underwrite conservatively with higher required returns and longer absorption timelines • Consider phased development strategies, particularly for mixed-use or larger tracts Sellers / Landowners: • Improve marketability by securing zoning approvals, annexation, and preliminary infrastructure • Price competitively relative to comparable listings, recognizing current capital constraints Investors: • Focus on long-term growth corridors (north and south Idaho Falls / Ammon expansion areas) • Evaluate pre-leasing potential for commercial components in mixed-use projects • Account for timing risk related to entitlements, construction, and interest rate volatility Conclusion The Idaho Falls–Ammon commercial land market reflects stable long-term fundamentals with short-term capital market constraints. Growth patterns continue to favor peripheral expansion areas, particularly in the northern and southern corridors, where annexation and infrastructure extension are enabling new development. While absorption has moderated, demand remains present for well-located, development-ready sites, and market participants continue to pursue opportunities supported by population growth and regional economic stability. Page 103 of 178 26-1214 Kirkham Appraisals Inc. Page 43 ♦ Subject Property • • • Identification of the Property This real estate appraised is generally situated along the east side of Hitt Road just along the south exit of the Target, or across the street from 25th Street and Hitt Road intersection within Ammon, Idaho 83406. Since the subject property consists of just vacant land, it does not have a common address. Legal Description A professional surveyor and / or legal counsel should verify the following legal description before relying upon, or using it as part of any conveyance, or any other document. This legal description was obtained from public records and is assumed accurate. LOT 14, BLOCK 1, AMMON TOWN CENTER AMENDED # 1 NW1/4, SEC 27, T 2N, R 38, Page 104 of 178 26-1214 Kirkham Appraisals Inc. Page 44 Aerial View Page 105 of 178 26-1214 Kirkham Appraisals Inc. Page 45 Plat Map Page 106 of 178 26-1214 Kirkham Appraisals Inc. Page 46 Most Likely Access Map One Way Exit to Hitt Road Exit Only Page 107 of 178 26-1214 Kirkham Appraisals Inc. Page 47 Photographs of Subject (photo page 1) Hitt Road Looking North Hitt Road Looking South Page 108 of 178 26-1214 Kirkham Appraisals Inc. Page 48 Photographs of Subject (photo page 2) Subject Property Subject Property Page 109 of 178 26-1214 Kirkham Appraisals Inc. Page 49 Photographs of Subject (photo page 3) Subject Property Page 110 of 178 26-1214 Kirkham Appraisals Inc. Page 50 Sale History On-line public records and / or a private data-reporting service were used to search for prior sales of the subject real estate. This research discovered no recorded conveyance of the subject during the three-years preceding this report's effective value date. Assessor’s office indicated the property did not convey within the last 3 years. The subject property was not found on local MLS or other commercial listing sites. Subject’s Current Ownership Owner Information Source City of Ammon Assessor's Records Flood Hazard According to the appropriate Federal Emergency Management Agency (FEMA) flood map, which is identified below, the subject property is not located in a zone "A" special flood hazard. Flood Map Number 1600290005B Flood Map Date 10/15/1982 Flood Zone X Flood Maps published by FEMA are not precise. If anyone desires a precise determination of the subject's flood hazard classification, a professional engineer, licensed surveyor, or local governmental authority should make an exact determination. Real Estate Taxes Throughout Bonneville County, the Total Assessed Value is supposed to represent 100% of market value for all property types . County Bonneville Parcel ID # RPB2731001014O Tax Year 2025 Total Assessed Value Exempt Total Tax Dollars Exempt The subject property is currently owned by the City of Ammon, a municipal entity, and is therefore understood to be exempt from real estate taxes under its current ownership. However, if the property is transferred to a taxable private party or other non-exempt ownership entity, the property would likely become subject to ad valorem real estate taxation. Accordingly, future real estate taxes would be dependent on the post-transfer ownership status, assessed valuation, applicable levy rates, and any exemptions or special assessments in place at that time. Page 111 of 178 26-1214 Kirkham Appraisals Inc. Page 51 Zoning The subject property is located within the HC-1 Highway Commercial District under the City of Ammon zoning ordinance. The property was reportedly rezoned to HC-1 on April 16, 2026, which is consistent with its location along the Hitt Road/25th East corridor and within the broader Ammon Town Center commercial area. The HC-1 zoning classification is intended for highway- and arterial-oriented commercial development, including uses that benefit from high visibility, traffic exposure, and convenient access to established transportation corridors. The zoning is generally supportive of commercial uses such as retail, service-oriented businesses, restaurants, offices, and other highway-commercial activities, subject to the specific permitted-use provisions, conditional-use requirements, site-plan review standards, parking requirements, setbacks, landscaping, signage controls, and access- management standards of the City of Ammon. Given the subject’s frontage/exposure along Hitt Road and its location within an established commercial development, the HC-1 designation is considered compatible with the surrounding commercial land-use pattern. However, the subject’s irregular shape and limited functional building envelope may restrict the size and layout of future improvements, even though the zoning itself supports commercial development. Page 112 of 178 26-1214 Kirkham Appraisals Inc. Page 52 Environmental Risks Disclosure During the course of this appraisal, the appraiser(s) did not detect or attempt to discover any environmental hazard on, under, above, or within the subject real estate. No overt evidence of any environmental hazard is apparent to the untrained eye. It should be known the appraiser(s) did not view the subject property with the intent of detecting any environmental hazard. It is beyond the expertise of the appraiser(s) to detect or determine the chemical nature of any substance or gas. No effort was made to dismantle or probe any part of the property to discover enclosed, encased, or concealed hazards. No effort was exerted to ascertain the presence of any environmental hazard including but not limited to the following. Asbestos Urea-formaldehyde insulation Underground storage tanks Soil contamination or deficiencies Lead-based paint Toxic mold Radon PCB Chemical spills Fire resistant treated plywood (FRTP) Flood hazards are detailed elsewhere in this report. Except as enumerated herein, the appraiser(s) were not given the results of any environmental testing on or near the property being appraised. Neither observation of the subject property, or research conducted as part of a typical real estate appraisal suggest the presence of any hazardous substance or detrimental environmental condition affecting the subject. Nearby sites were not investigated to determine whether they are contaminated. Public information and other Internet sources were not researched to determine the presence of hazardous substances or detrimental environmental conditions in the subject's vicinity. Federal, State, and local laws concerning any hazardous substance or gas are sometimes contradictory. Therefore, any needed clean up should comply with the most stringent laws. The appraiser(s) are not informed or trained in environmental legalities. It is assumed no hazardous substance or gas adversely affects the subject real estate. If the subject is adversely influenced by a hazardous condition, then the subject's market value would be impaired. Recommendation The presence of any hazardous condition usually diminishes market value. The value opinion formed in this report assumes there is no environmental hazard affecting the subject real estate. No responsibility is assumed by the appraiser(s) or Kirkham Appraisals Inc. for any hazard, or for any expertise required to discover any environmentally hazardous condition. Our client is urged to retain an expert in this field, if desired. Page 113 of 178 26-1214 Kirkham Appraisals Inc. Page 53 Subject Description Subject Site Dimensions See Legal Description Size 0.88+/- Acres/38,549+/- Square Feet Easements Typical Easements for Utilities along with Access Easements across common areas for Ammon Town Center based on CCR’s Encroachments None known; none assumed Shape Triangular Topography Generally level Curbs & Gutters None Water & Sanitation Public water, public sewer Rear Alley None Access Access to the subject appears to be provided through the broader Ammon Town Center common-area and reciprocal easement system, rather than by a clearly defined independent driveway or direct curb cut from Hitt Road/25th East. The First Amended Plat identifies the subject as Lot 14, Block 1, Ammon Town Center Division No. 1 First Amended, but the plat does not clearly depict a separate dedicated vehicular access point serving Lot 14 directly from Hitt Road. The recorded Declaration of Restrictions and Grant of Easements provides reciprocal, nonexclusive easements for vehicular and pedestrian ingress and egress over the shopping center common areas, which appears to be the likely legal access mechanism for the subject. However, the functional access appears limited and indirect, as circulation to the site may require movement through the existing common-area drive system, including routing around the rear or side of the Target building and utilizing the one-way access system connected to Hitt Road. While this access arrangement appears to provide legal ingress and egress, it is inferior to a conventional commercial parcel with direct, visible, two-way arterial access. As a result, the subject’s access characteristics may reduce overall site utility and limit the prospective buyer pool to users that can operate with indirect common-area access and limited independent site identity. Street Paving Asphalt Sidewalks None Natural Gas Public Adjacent Road(s) 2-lane, 2-way Nearby Land Uses Commercial/Residential Electric Provided by public companies at prevailing rates Major Flaws Access to the subject lot has flaws that will limit the buyer pool. Overall Features The land has typical features as compared to similar alternatives. Its overall locational attributes are average relative to competitive parcels. Page 114 of 178 26-1214 Kirkham Appraisals Inc. Page 54 The subject consists of a vacant commercial land parcel located along the Hitt Road/25th East corridor in Ammon, Bonneville County, Idaho. The site is legally identified as Lot 14, Block 1, Ammon Town Center Division No. 1 First Amended, according to the recorded plat of the subdivision. The parcel contains approximately 38,549 square feet, or 0.88 acres, and is irregular in shape. The site is situated within the broader Ammon Town Center development, an established commercial area that includes large-format retail, supporting commercial uses, internal drive aisles, common areas, and shared access improvements. The subject benefits from exposure along Hitt Road/25th East, one of the primary north-south arterial corridors serving the Idaho Falls and Ammon market area. Hitt Road carries substantial traffic volumes through this portion of the market, providing the subject with good visual exposure from a heavily traveled commercial corridor. This exposure is a positive site characteristic, particularly for commercial uses that benefit from traffic visibility and proximity to established retail activity. However, the subject’s physical configuration and access characteristics create meaningful limitations. The parcel is narrow and irregularly shaped, which limits the functional building envelope after consideration of setbacks, parking, landscaping, stormwater, circulation, and other site-development requirements. As a result, the site would most likely support only a relatively small commercial building or a specialized use capable of functioning on a constrained parcel. These physical limitations may reduce the prospective buyer pool when compared with more regularly shaped commercial sites capable of accommodating conventional retail, office, or service-commercial site plans. Access to the subject appears to be provided through the broader Ammon Town Center common-area and reciprocal easement system, rather than through a clearly defined independent driveway or direct curb cut from Hitt Road. The First Amended Plat establishes the subject’s current lot configuration, but it does not clearly depict a separate dedicated vehicular access point serving Lot 14 directly from Hitt Road. The recorded Declaration of Restrictions and Grant of Easements provides reciprocal, nonexclusive easements for vehicular and pedestrian ingress and egress over the shopping center common areas, which appears to be the likely legal access mechanism for the subject. While legal access appears to be available through the recorded common-area framework, the subject’s functional access is considered inferior to a typical arterial-fronting commercial parcel. Based on the documents reviewed and observed development pattern, access may require circulation through the existing Ammon Town Center internal drive system, including movement around the rear or side of the Target building and use of a one-way access system connected to Hitt Road. This indirect access pattern may limit customer convenience, reduce independent site identity, and create potential wayfinding concerns. Consequently, the subject’s Hitt Road exposure is a positive attribute, but the lack of apparent direct, conventional, two-way arterial access offsets a portion of that benefit. Overall, the site is considered a small, irregular commercial parcel with good corridor exposure but constrained development utility. The combination of limited size, irregular shape, likely reliance on reciprocal common-area access, and indirect circulation is expected to influence the intensity and type of development that can reasonably be supported. The site would most likely appeal to a small-format commercial, office, service, or ancillary retail user that can operate with limited site depth and indirect common-area access, while users requiring direct arterial ingress/egress, strong independent identity, or a more conventional site layout would likely view the property as inferior. Page 115 of 178 26-1214 Kirkham Appraisals Inc. Page 55 ♦ Analyses & Conclusions • • • Value Introduction For real estate that is predominantly unimproved vacant land, there are six valuation methods. The most frequently used sales comparison approach is employed in this report. Page 116 of 178 26-1214 Kirkham Appraisals Inc. Page 56 Real Estate Cycles Real estate generally has four market cycles. "Understanding where the market is and forecasting the extent of duration of the cycle are important in projecting the pattern of future income."1 These cycles are depicted below. The red arrow depicts the appraiser(s) opinion of the subject's position in the market cycle. Segment Name Characteristics AB Expansion Growing demand, rental rates climbing above replacement cost, decreasing vacancy, concessions not prevalent, high profit potential stimulating much new construction BC Contraction Stable to weakening demand, stable to weakening vacancy, small concessions beginning to occur, rents stable to mildly weakening, profit potential shrinking so new construction slowing CD Recession Stagnant to declining demand, vacancy growing, rental rates falling, significant concessions prevalent, new construction virtually halted DA Recovery Demand strengthening, vacancy shrinking, rental rates starting to climb, concessions shrinking, new construction beginning to occur Time until the next major point 1 to 2 years 1 Advanced Concepts & Case Studies, pg 253, Appraisal Institute, copyright 2010 Page 117 of 178 26-1214 Kirkham Appraisals Inc. Page 57 Highest and Best Use Introduction A highest and best use identifies the most reasonably probable and appropriately supported use of the property appraised. Since market conditions change, a property's highest and best use may change as well. This analysis is an essential step in the determination of market value. Market dynamics determines a property's use and an appraisal values that use. Practically speaking, a highest and best use analysis forms a framework for the proper selection of comparables. The “Dictionary of Real Estate Appraisal”, 6th edition, copyright 2015 by the Appraisal Institute defines this term on page 93 as: 1.The reasonably probable use of property that results in the highest value. The four criteria that the highest and best use must meet are legal permissibility, physical possibility, financial feasibility, and maximum productivity. 2. The use of an asset that maximizes its potential and that is possible, legally permissible, and financially feasible. The highest and best use may be for continuation of an asset’s existing use or for some alternative use. This is determined by the use that a market participant would have in mind for the asset when formulating the price that it would be willing to bid. (IVS) 3.[The] highest and most profitable use for which the property is adaptable and needed or likely to be needed in the reasonably near future. (Uniform Appraisal Standards for Federal Land Acquisitions)." There are two types of highest and best use. The first is highest and best use of land as though vacant. If a building already exists, the second variety is highest and best use as though now improved. The later considers whether the existing building should be retained as is, demolished, remodeled, renovated, repaired, enlarged, or converted to an alternate use. Both types require separate analyses. Current usage may or may not be different from the near future highest and best use. The concept of Highest and Best Use is based upon four major criteria, which are summarized below: 1.Legally Permissible The use must be legal or probable. That is, the use must conform to existing zoning restrictions, or there must be a reasonable likelihood a rezoning or variance may be granted. Private agreements like deed restrictions and leases must also be considered. 2.Physically Possible Physical attributes of the land that must be considered include size, access, shape, orientation, soil conditions, potential hazards, topography, and utilities. Physical attributes of the building that must be analyzed include design, size, efficiency, mechanical systems, floorplan, construction materials, quality, and physical condition. 3.Financially Feasible Land may be developed with different uses. Only those uses, which produce a positive net return over time with acceptable risk, are deemed financially viable. This use must not depress surrounding property values. 4.Maximum Productivity Of all uses that survive the first three tests, there is only one use, which produces the greatest return with the least risk. This single use represents the property’s Highest and Best Use. Supply and demand are constantly fluctuating, so it is common for a property’s highest and best use to change. Page 118 of 178 26-1214 Kirkham Appraisals Inc. Page 58 Highest and Best Use Introduction Demand analyses can be categorized into two different levels of detail - Inferred and Fundamental. A fundamental analysis forecasts future demand from projections of broad demographic and economic data, specifically population, income, and employment. Existing supply is inventoried. Then, the relationship of supply and demand is weighed to determine residual demand. If residual demand is positive, more of that property type is needed. Of course, the opposite is also true. An inferred analysis is based on local trends and patterns from which inferences are made. This type analysis presumes that recent past trends will continue for the near future. Sale prices, number of competitive listings, marketing intervals, and / or price changes for other similar properties infer there is adequate demand for the subject at a price level congruous with the available data. An inferred analysis emphasizes historical data while a fundamental analysis is based on expected future occurrences. This appraisal's highest and best use was based, in part, on an inferred demand analysis. Following below are detailed considerations used to form a highest and best use determination for the property appraised. Buyer Types The most likely buyer type is crucial to highest and best use. Different buyer types have different motivations and different perceptions of risk. The buyer type must be identified to better understand applicable approaches and the selection of cap rates and yield rates. Different buyer types are identified below. 1 Owner-User Acquires real estate mostly for its use or control. Vacancy & investment yield are not primary criteria. Property suitability is the major objective. Typically, a medium to long-term owner. 2 Secure Income Investor Seeks an established, secure income stream; normally does not change the property in any meaningful way. Usually favors a long-term ownership. 3 Developer Acquires real estate to physically or legally change it in some significant fashion; accepts substantial risk so expects major reward over a short-to-medium holding period. 4 Speculator Buys real estate solely as an investment with most of the reward at termination. Property use is not a primary consideration; medium-to-long-term holding period; Usually buys during very weak market conditions, so accepts huge risk. Mantra: buy low, sell high. 5 Value Growth Investor Buys real estate mostly for price appreciation. Property use is usually not a major consideration. Typically buys during conditions of rapidly increasing prices; prefers a short-to-medium ownership period. Page 119 of 178 26-1214 Kirkham Appraisals Inc. Page 59 Highest and Best Use Most Likely User The most likely user is also important. Clearly, users of an age-restricted, multiunit residential structure have needs and preferences that are much different from young married couples with small children. Similarly, the most likely buyer of a handicap accessible home is a handicap person. This most-likely buyer would perceive the special physical features as beneficial, not detrimental. Preferences and needs of the most likely user affect value, so the most likely user should be identified to judge the extent that existing or proposed improvements fulfill those preferences or needs. Nationally-recognized users typically pay higher prices and rents as compared to local users. Timing of Use A crucial component of a highest and best use is timing. If the timing of a use is not now, when is it? When timing for a specific use cannot be identified, then that use is not the best. If the highest use is not within a decade, then the time-value of money usually precludes that use. When the timing of a use is within a few years, what is the interim use? Remaining dormant is a legitimate interim use. Ideal Improvement Identification of the "ideal improvement" is an essential element of highest and best use. If the property appraised is vacant land, the ideal describes what should be built. If the existing improvements (one or more buildings and site improvements) have the same or similar attributes as the ideal, then the existing improvements have no or minimal depreciation. Obviously, the opposite also applies. The described ideal improvement is as specific as market data will allow. The ideal improvement is the physical use of the land as though vacant. Page 120 of 178 26-1214 Kirkham Appraisals Inc. Page 60 As Though Now Vacant Land If subject parcel were vacant, how would it be used? This question is answered by applying the four tests of highest and best use. Legally Permissible The subject property is located within the HC-1 Highway Commercial District under the City of Ammon zoning ordinance. The HC-1 district is intended for highway- and arterial-oriented commercial development, with emphasis on retail, service, and related commercial uses that benefit from traffic exposure and access along major transportation corridors. The City of Ammon zoning index identifies Chapter 21 of Title 10 as the HC-1 Highway Commercial Zone. As vacant, the subject’s legally permissible uses are generally limited to those allowed under the HC-1 zoning district, together with any uses permitted by conditional use permit or other discretionary city approval. Given the subject’s location along Hitt Road/25th East and within the Ammon Town Center commercial area, commercial uses such as small-scale retail, service-commercial, office, restaurant, or other highway-commercial uses appear generally consistent with the zoning intent. Any future development would be subject to City of Ammon requirements regarding permitted uses, setbacks, parking, landscaping, signage, access management, utilities, stormwater, site-plan approval, and other applicable development standards. The subject is also affected by recorded covenants, restrictions, and reciprocal easement documents associated with the Ammon Town Center development. These documents appear to provide common-area and reciprocal ingress/egress rights within the development, but they may also impose limitations on site design, access, common- area use, maintenance obligations, signage, and allowable improvements. Therefore, while the HC-1 zoning supports commercial development, the subject’s legally permissible development potential must also consider the recorded plat, CCRs, easements, and common-area access framework. Overall, as vacant, the legally permissible use of the subject is for commercial development consistent with the HC- 1 Highway Commercial District and the applicable Ammon Town Center recorded restrictions. The most legally supportable uses would be small-format commercial, office, service, or ancillary retail uses that can comply with zoning requirements and function within the parcel’s irregular shape, limited building envelope, and indirect common-area access configuration. Physically Possible As vacant, the subject’s physical development potential is constrained by its small size, irregular shape, and access characteristics. The site contains approximately 38,549 square feet, or 0.88 acres, and is configured as a narrow, irregularly shaped parcel within the broader Ammon Town Center development. While the site benefits from exposure along the Hitt Road/25th East corridor, the parcel configuration limits the practical building envelope after consideration of required setbacks, parking, landscaping, stormwater management, internal circulation, utility placement, and other site-development requirements. As a result, the subject is not physically suited for a conventional large-format commercial building or a development requiring substantial on-site parking, drive- through circulation, loading areas, or independent site circulation. A primary physical limitation is the subject’s access. The First Amended Plat establishes the subject as Lot 14, Block 1, Ammon Town Center Division No. 1 First Amended, but it does not clearly depict a dedicated independent driveway or direct vehicular curb cut from Hitt Road serving Lot 14. Based on the recorded Declaration of Restrictions and Grant of Easements, access appears to be provided through the Ammon Town Center common-area and reciprocal easement system, which grants nonexclusive vehicular and pedestrian ingress and egress over common areas within the development. Although this appears to provide a legal means of access, the functional access is inferior to a typical arterial-fronting commercial parcel with direct, visible, two-way ingress and egress. Page 121 of 178 26-1214 Kirkham Appraisals Inc. Page 61 The subject’s likely access pattern would require vehicles to circulate through the existing shopping center common-area system, potentially around the rear or side of the Target building, and then access the site through an internal drive configuration that appears tied to a one-way access system onto Hitt Road as depicted in the map below(red line). This indirect access could materially affect development feasibility and site utility. Uses that depend on convenience, impulse traffic, drive-up access, strong independent identity, or clear customer wayfinding would be less physically compatible with the site. The access configuration could also complicate site planning by limiting driveway placement, reducing flexibility for parking layout, restricting internal circulation, and potentially creating conflicts with adjoining common-area traffic patterns. Given these constraints, the physically possible uses are most likely limited to a small-format commercial, office, service, or ancillary retail building that can operate with limited site depth, modest parking demand, and indirect common-area access or assemblage to the contiguous parcel. A user requiring direct arterial access, a drive-through lane, significant loading, high-turnover customer traffic, or a more conventional rectangular building footprint would likely find the site physically inferior. Therefore, while development is physically possible, the subject’s irregular shape and indirect access significantly narrow the range of feasible building types and likely reduce the size and intensity of development that can reasonably be supported. In summary, the subject property is physically capable of supporting a mixed-use development consistent with the constraints of the Development Agreement, including a combination of residential and commercial uses, and is adequate in size and utility to accommodate the required development program. Financially Feasible As vacant, the subject has potential for commercial development due to its location along the Hitt Road/25th East corridor and its placement within the established Ammon Town Center commercial area. The HC-1 Highway Commercial zoning supports commercial uses that benefit from arterial exposure, and the subject’s proximity to established retail development provides a positive locational influence. However, financial feasibility is materially affected by the parcel’s small size, irregular shape, limited building envelope, and indirect access characteristics. Page 122 of 178 26-1214 Kirkham Appraisals Inc. Page 62 The subject is not considered well suited for a conventional standalone retail or service-commercial development that requires direct arterial ingress/egress, strong independent identity, efficient parking layout, drive-through circulation, or high customer turnover. While the site has good visibility from Hitt Road, the available information indicates that legal access is likely provided through the Ammon Town Center reciprocal common-area access system rather than through an independent driveway directly serving the parcel. Functionally, access appears to require circulation through the existing shopping center drive system, potentially around the rear or side of the Target building, with access tied to a one-way movement pattern connected to Hitt Road. This access arrangement reduces the site’s utility when compared with more conventional commercial parcels with direct, visible, two-way access. From a feasibility standpoint, the constrained access and irregular site configuration would likely require a discount in the land value when compared with better-configured commercial sites along Hitt Road or other arterial corridors. A prospective buyer would consider the additional risk associated with site planning, access dependence, limited building size, parking efficiency, customer convenience, and marketability of the finished product. The parcel would likely appeal to a narrower range of users, such as a small office, service-commercial user, specialty retail user, or ancillary commercial use that can function with limited parking demand and indirect common-area access. Users requiring high visibility and convenient drive-up access would likely discount the site or choose a more conventional parcel. Given these limitations, one likely buyer category would be a contiguous or nearby property owner/user that could incorporate the parcel into an existing site or use it in conjunction with adjoining improvements. A contiguous user may be able to achieve greater functional utility than a stand-alone purchaser by using the site for expansion, supplemental parking, signage, open space, access support, stormwater, or another ancillary commercial purpose. This potential assemblage or add-on use supports some demand for the property, but it also suggests that the highest price may come from a limited pool of special or adjoining users rather than the broader commercial land market. Therefore, while development of the subject is financially feasible, the most feasible use would be a small-format commercial improvement or an ancillary use by a contiguous/nearby commercial owner designed around the site’s physical limitations and access constraints. The land should not be valued at the same unit rate as a more typical, regularly shaped, fully functional arterial commercial site with direct access. A discount is warranted to recognize the subject’s inferior functional utility, reduced buyer pool, increased site-planning risk, and likely limitations on achievable building size and development intensity. The financially feasible use, as vacant, is commercial development or ancillary commercial use at a scale and intensity that reflects the subject’s constrained physical characteristics and indirect common-area access. Maximum Productivity Maximum productivity is considered when more than one legally permissible, physically possible, and financially feasible use remains. This concept recognizes that land should be developed with the use that produces the greatest supported return over time; however, the highest numerical return is not the sole consideration. The anticipated return must be weighed against market risk, development risk, site constraints, access limitations, and the depth of the likely buyer/user pool. A use that appears to generate an attractive return may be eliminated if the associated risk is excessive or if the site characteristics materially limit market acceptance. In the case of the subject, commercial use is considered the maximally productive use as vacant. The HC-1 Highway Commercial zoning, Hitt Road exposure, and location within the Ammon Town Center commercial area support commercial development. However, the subject’s irregular shape, limited building envelope, and indirect common-area access materially reduce its functional utility when compared with more conventional commercial parcels along similar arterial frontages. Therefore, the maximally productive use is not broad-based commercial development at the same intensity as a typical Hitt Road site, but rather a small-format commercial, service, office, ancillary retail, or potential add-on use by a contiguous or nearby user. These limitations are expected to result in a market discount relative to better-configured commercial parcels with direct, visible, and conventional vehicular access. Page 123 of 178 26-1214 Kirkham Appraisals Inc. Page 63 Conclusion As Though Now Vacant Physical Use Small-format commercial, service, office, ancillary retail, or potential add-on use by a contiguous or nearby user Timing of Physical Use Interim Use Immediately develop with the physical use No Interim Use Market Participants Most Likely Buyer Most Likely User Owner User or Secure Income Investor The buyer or local tenants Considering the foregoing highest and best use determinations, comparables were selected with the same or similar highest and best use. This data is very influential while forming a value opinion for the property appraised. Page 124 of 178 26-1214 Kirkham Appraisals Inc. Page 64 Land Value “As Is” Page 125 of 178 26-1214 Kirkham Appraisals Inc. Page 65 Land Value Introduction The best method of valuing vacant land is the sales comparison approach. Sales of similar sites are gathered and compared to the parcel being appraised. Differences affecting value are noted. Adjustments to compensate for dissimilarities are applied applicable transactions. Adjusted comparables produce an indication of value for the subject parcel. Any factor can affect value. Those considered during this appraisal’s land valuation process included yet are not limited to prominence of location, date of sale, size, shape, availability of utilities, zoning, topography, and access. Numerous sales were reviewed; however, only those deemed most comparable were selected for detailed analysis. All conveyed on an “arm’s length” basis except if specifically noted otherwise. Land sales shown herein are presented on a dollar per square foot basis as a common denominator. Abbreviations Used in Some Tables SEC NWC Loc Fea = Southeast Corner = Northwest Corner = Locational Features Sim Inf Sup = Similar = Inferior = Superior There are few, if any, conveyances of truly similar land. Therefore, an opinion of the subject's land value was developed after consideration of scarce sales, which hinders the sales comparison process. Moreover, the allocation method of land valuation was also considered. Page 126 of 178 26-1214 Kirkham Appraisals Inc. Page 66 Land Sale #1 Page 127 of 178 26-1214 Kirkham Appraisals Inc. Page 67 Land Sale #2 Page 128 of 178 26-1214 Kirkham Appraisals Inc. Page 68 Land Sale #3 Page 129 of 178 26-1214 Kirkham Appraisals Inc. Page 69 Land Sale #4 Page 130 of 178 26-1214 Kirkham Appraisals Inc. Page 70 Land Sale #5 Page 131 of 178 26-1214 Kirkham Appraisals Inc. Page 71 Land Value Summary of Land/Site Sales # Location Sale Date Size (SF) Zoning Purchase Price Price/SF 1. 575 S Utah Avenue, Idaho Falls 05/23 45,302+/- HC $775,000 $17.11 2. Lot 21 Block 1 Ammonside #6, Ammon 03/22 49,336+/- HC-1 $1,125,000 $22.80 3. SW Corner of Sunnyside and Yellowstone, Idaho Falls 11/18 55,147+/- LC $1,100,000 $19.95 4. 1260 17th Street, Idaho Falls Pending 43,996+/- LC $398,000 $9.05 5. 1610 Broadway Street, Idaho Falls Pending 76,735+/- CC-1 $1,598,000 $20.82 Subj. TBD Hitt Road, Ammon - 38,549+/- HC1 - - Page 132 of 178 26-1214 Kirkham Appraisals Inc. Page 72 Land Value Quantitative Adjustment Grid SUMMARY OF COMPARABLES Subject 1 2 3 4 5 Date of Sale 05/23 03/22 11/18 Pending Pending Zoning HC1 HC HC-1 LC LC CC-1 Utilities City City City City City City Sale Price $775,000 $1,125,000 $1,100,000 $398,000 $1,598,000 Size (SF)38,549 45,302 49,336 55,147 43,996 76,735 Price/Square Foot $17.11 $22.80 $19.95 $9.05 $20.82 ADJUSTMENTS Property Rights Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple Adjusted Price/Foot $17.11 $22.80 $19.95 $9.05 $20.82 Cond/Terms ----- Adjusted Price/Foot $17.11 $22.80 $19.95 $9.05 $20.82 Market (Time) Adj.$0.00 $0.00 $2.19 $0.00 $0.00 Adjusted Price/Foot $17.11 $22.80 $22.14 $9.05 $20.82 Location ----- Zoning ----- Size ----- Utilities ----- Shape/Topography ($1.71)($2.28)($2.21)-($2.08) Frontage/Access ($8.55)($11.40)($11.07)($4.52)($10.41) Other ----- ADJUSTED VALUE $6.84 $9.12 $8.86 $4.52 $8.33 Net Adjustment ($10.26)($13.68)($13.28)($4.52)($12.49) Range of Values $4.52 to $9.12 Mean Land/Site Adjustment Grid $7.53 Page 133 of 178 26-1214 Kirkham Appraisals Inc. Page 73 Land Value Land Sales Location Map Page 134 of 178 26-1214 Kirkham Appraisals Inc. Page 74 Land Value Analysis & Conclusions The subject and all cited comparable sales share several characteristics. They are all located in Idaho Falls or Ammon, and have similar potential uses. These commonalities justify inclusion of these transactions in this analysis. Often there are differences between the property appraised ("the subject") and a comparable sale. When the dissimilarity affects value, an adjustment to the sale price of the comparable is necessary. Property Rights Agreements or laws create partial interests in real estate. A deed restriction or life estate usually reduces rights and value. If the subject is not affected by these limitations and a comparable is, then the comparable's sale price needs an upward property rights adjustment. In another situation, unfavorable leases eliminate a landlord's right to collect market rent, so the real estate sells for a below-market price. If the property appraised has no lease adversities and a comparable does have unfavorable leases, then the comparable requires upward adjustment. Unless stated otherwise, property rights are virtually the same for the subject and all cited conveyances. Hence, no adjustments are necessary for this element of comparison. Financing Sub-market financing is a common technique used to finance the acquisition of real estate during periods of high interest rates. When non-market financing is used, the financing may be favorable to the buyer, so the sale price is inflated. The escalated price can be envisioned as a composite of the worth of real estate plus the value of advantageous financing. Since value created by financing is not real property, the contribution of the advantageous financing must be deducted from total sale price to derive market value for just the realty. On the opposite hand, there are instances where the buyer assumes unfavorable financing, so the sale price is diminished. In the latter case, an upward adjustment must be applied to the sale price of the comparable thusly deriving the market value of the real estate. Unless a statement is made to the contrary, non-market financing was not used to acquire any comparable sale cited in this report. Therefore, no compensations are needed for financing. Conditions of Sale An adjustment for conditions of sale is necessary when a criterion of market value is violated. It could compensate for unusual buyer or seller motivations. For instance, when a seller gives a buyer an atypical rebate, discount, credit, or something of value to induce a conveyance, the sale price is usually inflated. In this case, it is logical to deduct the worth of the giveback from the sale price. Residual sums represent the property's market value. In another scenario, a buyer may pay a premium to facilitate an assemblage. In this instance, the premium must be deducted from the sale price to derive market value for that conveyance. Unless stated otherwise, no adjustments are necessary for conditions of sale. Expenditure Post Sale This is a situation when a buyer is compelled to invest additional money into a property immediately after acquisition for some atypical reason. Post-sale invested sums are appropriately added to a comparable’s sale price thereby producing an adjusted sale price. Examples are demolition costs or building-code compliance costs. Unless a contrary statement is made, no adjustments are necessary for post-sale expenditures. Market Conditions Adjustments for market conditions are commonly referred to as time adjustments, but this is misleading. Value does not change due to the passage of time; sometimes it remains stable. Often real estate values fluctuate due to changes in supply and demand, interest rates, employment, or inflation. This type of adjustment compensates for change in market conditions between a sale’s transaction date and a later point in time. All cited comparables conveyed between November 2018 and this report’s effective value date. Sales that occurred prior to 2022 were adjusted upward at 3.0% annually to reflect improving market conditions leading into the middle of 2022. During this period, commercial land values generally benefited from low interest rates, strong liquidity, favorable investor sentiment, and continued demand for development sites. The upward adjustment is applied through mid-2022, at which point the market is considered to have stabilized due to changing monetary policy, including rising interest rates and a more restrictive lending environment. After mid-2022, no additional upward market-condition adjustment is applied, as higher borrowing costs, reduced capital availability, and increased uncertainty generally tempered value appreciation and limited further price growth. Location Each property was rated to the subject for locational aspects such as value growth potential, access, and general desirability. Those transactions with superior locations were adjusted downward and vice versa. All sales were located in the Idaho Falls/Ammon area, so no adjustments were made. Page 135 of 178 26-1214 Kirkham Appraisals Inc. Page 75 Physical Attributes A myriad of physical characteristics can affect land value. Some examples are lot size, shape, site orientation, availability of utilities, and soil conditions. Those sales with superior physical qualities warrant downward adjustment and vice versa. All of the comparable sales, with the exception of Sale No. 4, are considered superior to the subject with respect to shape and topography. These sales generally reflect more functional site configurations that provide greater development efficiency, improved building placement, more practical parking layout, and fewer limitations related to setbacks, circulation, and usable land area. In contrast, the subject is irregular in shape and has a more constrained functional building envelope, which limits its development utility and narrows the likely buyer pool. Accordingly, a 10% downward adjustment is applied to the sale price of each comparable sale, except Sale No. 4, to account for its superior shape and topographic characteristics when compared with the subject. Sale No. 4 is considered generally similar to the subject in this regard and no adjustment is applied. A 50% downward adjustment is applied to the comparable sales with superior access characteristics. This adjustment is not based on a single published percentage, but rather on appraisal judgment considering the subject’s unusual access impairment relative to the comparable data. The subject benefits from exposure along Hitt Road/25th East; however, the available documents do not indicate a clearly defined independent driveway or direct conventional vehicular curb cut serving Lot 14. Instead, access appears to be provided through the Ammon Town Center reciprocal common-area system, with functional access requiring circulation through the shopping center, around the rear or side of the Target building, and through an internal one-way access pattern. This access condition materially affects the subject’s utility for users requiring convenient customer ingress/egress, direct wayfinding, strong site identity, efficient deliveries, drive-up convenience, or high-turnover retail/service traffic. The adjustment is supported in concept by right-of-way and easement valuation literature. The IRWA Easement Valuation Matrix identifies easements involving conveyance of ingress/egress rights and some surface-use impact in the 51% to 74% range of fee value, while balanced shared-use easements are shown at 50%. The table is a general guide rather than a formula, and the proper adjustment depends on the impact on the property’s use and utility. In this case, the subject’s access limitation is not merely a shared-access condition; it is an indirect, common-area-dependent access pattern that materially narrows the likely buyer/user pool and increases development risk. Therefore, the 50% access adjustment is considered reasonable and conservative relative to the subject’s functional access impairment, while still recognizing that the parcel retains some value from Hitt Road exposure and legal access through the recorded common-area framework. Value Indication The appraiser considers the cited conveyances to be moderate to good comparable sales. Sales of more comparable properties were not discovered during our research. Selected transactions were chosen because they are moderately comparable commercial or commercially oriented land parcels competing within the broader Idaho Falls/Ammon market. Needed adjustment considerations were explained above. These adjustments have been qualitative and are shown in the prior table. Some of these adjustments are based upon the appraisers' professional judgment when data was insufficient to enable market extraction. This adjusted data varies from $4.52 to $9.12 per square foot with an $7.53 per square foot average. Although the adjusted average is lower, greatest weight is placed on the indicators most comparable in corridor exposure and commercial setting, particularly Sale 2; therefore, a conclusion near the upper portion of the adjusted range is considered reasonable after recognizing the subject’s Hitt Road exposure and Ammon Town Center location. Page 136 of 178 26-1214 Kirkham Appraisals Inc. Page 76 After consideration of all factors pertaining to and influencing land values, the following is selected as the most fitting value indication for the subject parcel as though vacant. Accordingly, Subject Parcel(s) 38,549 Sq. Ft. @ $9.00 Per Sq. Ft. = $346,941 Indicated Market Value of Subject Land “As Is” Via Sales Comparison, Say $345,000 Page 137 of 178 26-1214 Kirkham Appraisals Inc. Page 77 Value Summary The subject consists of a vacant commercial parcel containing approximately 38,549 square feet, or 0.88 acres, located along the Hitt Road/25th East corridor within the Ammon Town Center development in Ammon, Idaho. The property benefits from strong arterial exposure in an established commercial area; however, its overall utility is limited by its irregular shape, constrained building envelope, and indirect access characteristics. The parcel does not appear to have a clearly defined independent driveway or conventional direct curb cut from Hitt Road, with access instead appearing to rely on the Ammon Town Center reciprocal common-area access system. As a result, the site is considered inferior to typical arterial-fronting commercial parcels with direct, visible, two-way access and more functional configurations. These limitations are expected to narrow the buyer/user pool, reduce development flexibility, and warrant a discount relative to more conventional commercial land sales, although the property remains suitable for a small-format commercial, service, office, ancillary retail, or potential add-on use by a nearby or contiguous owner. In considering the three traditional approaches to value, the Sales Comparison Approach is considered the most relevant and reliable indicator of value for the subject property. This approach reflects the actions of buyers and sellers in the marketplace for similar vacant land and directly captures current market conditions, including location, size, and development potential. The Cost Approach was not developed, as the subject is vacant land and there are no improvements to estimate replacement cost or depreciation. The Income Approach was also not developed, as the subject does not currently generate income, and any projection of future income would require speculative assumptions regarding development timing, construction costs, lease-up, and absorption that are beyond the scope of this assignment. Based on the analysis presented, primary reliance is placed on the Sales Comparison Approach, as it provides the most credible and market-supported indication of value for the subject property in its “as-is” condition. The final value conclusion reflects consideration of comparable land sales, appropriate adjustments, and reconciliation of the data into a supported value indication consistent with the subject’s characteristics, development constraints, and current market conditions. After careful consideration of all factors pertaining to and influencing value, the data and analysis thereof support the following market value conclusion for the subject real estate as of May 10, 2026: $345,000 Market Value “As Is” Page 138 of 178 26-1214 Kirkham Appraisals Inc. Page 78 Exposure Time Terminology abounds in the real estate appraisal profession. Two related but different concepts that are often confused are Exposure Time and Marketing Time. USPAP specifically addresses the confusion. Term Definition Explanation Exposure Time (Statement 6) “The estimated length of time the property interest being appraised would have been offered on the market prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal". Backward looking, ends on the effective value date. Based on factual, past events Marketing Time (Advisory Opinion 7) "An opinion of the amount of time it might take to sell a real or personal property interest at the concluded market value during the period immediately after the effective date of the appraisal". Forward looking, starts on the effective value date. A forecast based on expectancies of future occurrences. Marketing time and exposure time are both influenced by price. That is, a prudent buyer could be enticed to acquire the property in less time if the price were less. Hence, the time span cited below coincides with the value opinion(s) formed herein. USPAP Standard rule 1-2(c)(iv) requires an opinion of exposure time, not marketing time, when the purpose of the appraisal is to estimate market value. In the recent past, the volume of competitive properties offered for sale, sale prices, and vacancy rates have fluctuated little. Sale concessions have not been prevalent. In light thereof, an estimated exposure time for the subject is 0 to 12 months assuming competitive pricing and prudent marketing efforts. Based on current listings and previous sales trends, an estimated marketing time for the subject is 0 to 12 months assuming competitive pricing and prudent marketing efforts. Page 139 of 178 26-1214 Kirkham Appraisals Inc. Page 79 Contingent and Limiting Conditions 1. By this notice, all persons, companies, or corporations using or relying on this report in any manner bind themselves to accept these Contingent and Limiting conditions, and all other contingent and limiting conditions contained elsewhere in this report. Do not use any portion of this report unless you fully accept all Contingent and Limiting conditions contained throughout this document. 2. The "Subject" or "Subject Property" refers to the real property that is the subject of this report. An Appraiser is defined as an individual person who is licensed to prepare real estate appraisal-related services in the State of Idaho and affixes his / her signature to this document. 3. Throughout these Contingent and Limiting Conditions, the singular term "Appraiser" also refers to the plural term "Appraisers”. The terms "Appraiser" and “Appraisers” also refer jointly / collectively to "Kirkham Appraisals Inc.", its officers, employees, contractors, personnel, staff, shareholders, members, and affiliates. The masculine terms "he" or "his" also refer to the feminine term "she" or "her”. 4. In these Contingent and Limiting Conditions, the "Parties" refers to all of the following collectively: (a) the Appraiser(s), (b) Kirkham Appraisals Inc., (c) the client, and (d) all intended users. 5. These Contingent and Limiting Conditions are an integral part of this report along with all certifications, definitions, descriptions, facts, statements, assumptions, disclosures, hypotheses, analyses, and opinions. 6. All contents of this report are prepared solely for the explicitly identified client and other explicitly identified intended users. The liability of the Appraiser is limited solely to the client. There is no accountability, obligation, or liability to any other third party. Other intended users may read but not rely on this report. In no event, shall the Appraisers be liable for consequential, special, incidental or punitive loss, damages or expense (including without limitation, lost profits, opportunity costs, etc.) even if advised of their possible existence. If this report is placed in the hands of anyone other than the client, the client shall make such party aware of all contingent and limiting conditions, assumptions, and disclosures. Use of this report by third parties shall be solely at the risk of the third party. 7. This document communicates the results of an appraisal assignment. This communication is not an inspection, engineering, construction, legal, or architectural report. It is not an examination or survey of any kind. Expertise in these areas is not implied. The Appraiser is not responsible for any costs incurred to discover, or correct any deficiency in the property. Page 140 of 178 26-1214 Kirkham Appraisals Inc. Page 80 Contingent and Limiting Conditions 8. As part of this appraisal, information was gathered and analyzed to form opinion(s) that pertain solely to one or more explicitly identified effective value dates. The effective value date is the only point in time that the value applies. Information about the subject property, neighborhood, comparables, or other topics discussed in this report was obtained from sensible sources. In accordance with the extent of research disclosed in the Scope of Work section, all information cited herein was examined for accuracy, is believed to be reliable, and is assumed reasonably accurate. However, no guaranties or warranties are made for this information. No liability or responsibility is assumed for any inaccuracy which is outside the control of the Appraiser, beyond the scope of work, or outside reasonable due diligence of the Appraiser. 9. Appraiser and Client agree the following mutual limitation of liability is agreeable in consideration of the fees to be charged and the nature of appraisal services provided under this Agreement. Appraiser and Client agree to the fullest extent permitted by applicable law, that the Appraiser's and its Personnel's maximum aggregate and joint liability to the other party for claims and causes of action relating to this Agreement for appraisals or other services under this agreement shall be limited to $25,000 or the total of all fees and costs charged by the Appraiser for services that are subject of the claim(s) or cause(s) of action. This limit of liability extends to all types of claims or causes of action, whether in breach of contract or tort, including without limitation claims / causes of action for negligence, professional negligence, or negligent misrepresentation on the part of either party or its Personnel, but excluding claims / causes of action of intentionally fraudulent conduct, criminal conduct, or intentionally caused injury. The Personnel of each party are intended third party beneficiaries of this limitation of liability. The word "Personnel", as used in this paragraph, means the respective party's staff, employees, contractors, members, partners, affiliates, and shareholders. Appraiser and Client agree that they each were free to negotiate different terms than stated in this Agreement or contract with other parties. 10. Real estate values are affected by many changing factors. Therefore, any value opinion expressed herein is considered credible only on the effective value date. Every day that passes thereafter, the degree of credibility wanes as the subject changes physically, the economy changes, or market conditions change. The Appraiser reserves the right to amend these analyses and/or value opinion(s) contained within this appraisal report if erroneous, or more factual-information is subsequently discovered. No guarantee is made for the accuracy of estimates or opinions furnished by others, and relied upon in this report. 11. In the case of limited partnerships, syndication offerings, or stock offerings in the real estate, the client agrees that in case of lawsuit (brought by the lender, partner, or part owner in any form of ownership, tenant, or any other party), the client will hold Kirkham Appraisals Inc., its officers, contractors, employees and associate appraisers completely harmless. Acceptance of, and/or use of this report by the client, or any third party is prima facie evidence that the user understands and agrees to all these conditions. Page 141 of 178 26-1214 Kirkham Appraisals Inc. Page 81 Contingent and Limiting Conditions 12. For appraisals of multiunit residential, only a portion of all dwellings was observed. A typical ratio of observed dwellings roughly approximates 10% of the total number of units, and this ratio declines as the number of dwellings grows. It is assumed the functionality, physical condition, construction quality, and interior finish of unseen units are like the functionality, physical condition, construction quality, and interior finish of observed units. If unobserved dwellings significantly differ from those that were viewed in functionality, physical condition, quality, or finish, the Appraiser reserves the right to amend theses analysis and/or value opinion(s). 13. If the appraised property consists of a physical portion of a larger parcel is subject to the following limitations. The value opinion for the property appraised pertains only to that portion defined as the subject property. This value opinion should not be construed as applying with equal validity to other complementary portions of the same parcel. The value opinion for the physical portion appraised + the value of all other complementary physical portions may or may not equal the value of the whole parcel. 14. Unless specifically stated otherwise herein, the Appraiser is unaware of any engineering study made to determine the bearing capacity of the subject land, or nearby lands. Improvements in the vicinity, if any, appear to be structurally sound. It is assumed soil and subsoil conditions are stable and free from features that cause supernormal costs to arise. It is also assumed existing soil conditions of the subject land have proper load bearing qualities to support the existing improvements, or proposed improvements appropriate for the site. No investigations for potential seismic hazards were made. This appraisal assumes there are no conditions of the site, subsoil, or structures, whether latent, patent, or concealed that would render the subject property less valuable. Unless specifically stated otherwise in this document, no earthquake compliance report, engineering report, flood zone analysis, hazardous substance determination, or analysis of these unfavorable attributes was made, or ordered in conjunction with this appraisal report. The client is strongly urged to retain experts in these fields, if so desired. 15. If this report involves an appraisal that values an interest, which is less than the whole fee simple estate, then the following disclosure applies. The value for any fractional interest appraised + the value of all other complementary fractional interests may or may not equal the value of the entire fee simple estate. 16. If this appraisal values the subject as though construction, repairs, alterations, remodeling, renovation, or rehabilitation will be completed in the future, then it is assumed such work will be completed in a timely fashion, using non-defective materials, and proper workmanship. All previously completed work is assumed completed in substantial conformance with plans, specifications, descriptions, or attachments made or referred to herein. It is also assumed all planned, in-progress, or recently completed construction complies with the zoning ordinance, and all applicable building codes. A prospective value opinion has an effective value date that is beyond or in the future relative to this report's preparation date. If this appraisal includes a prospective valuation, it is understood and agreed the Appraiser is not responsible for an unfavorable value effect caused by unforeseeable events that occur before completion of the project. Page 142 of 178 26-1214 Kirkham Appraisals Inc. Page 82 Contingent and Limiting Conditions 17. This valuation may or may not include an observation of the appraised property by an Appraiser. The extent of any observation is disclosed in the Scope of Work section of this report. Any observation by an Appraiser is not a professional property inspection. Viewing of the subject was limited to components that were not concealed, clearly observable, and readily accessible without a ladder on the property observation date. As used herein, readily accessible means within the Appraiser's normal reach without the movement of any man made or natural object. Comments or descriptions about physical condition of the improvements are based solely on a superficial visual observation. These comments are intended to familiarize the reader with the property in a very general fashion. 18. The allocation of value between the subject's land and improvements, if any, represents our judgment only under the existing use of the property. A re-evaluation should be made if the improvements are removed, substantially altered, or the land is utilized for another purpose. 19. The Client and all intended users agree to all the following. (A) This appraisal does not serve as a warranty on the physical condition or operability of the property appraised. (B) All users of this report should take all necessary precautions before making any significant financial commitments to or for the subject. (C) Any estimate for repair or alternations is a non-warranted opinion of the Appraiser. 20. Electric, heating, cooling, plumbing, water supply, sewer or septic, mechanical equipment, and other property systems were not tested. No determination was made regarding the operability, capacity, or remaining physical life of any component in, on, or under the real estate appraised. All building components are assumed adequate and in good working order unless stated otherwise. Private water wells and private septic systems are assumed sufficient to comply with federal, state, or local health safety standards. No liability is assumed for the soundness of structural members since structural elements were not tested or studied to determine their structural integrity. The roof cover for all structures is assumed water tight unless otherwise noted. This document is not an inspection, engineering or architectural report. If the client has any concern regarding structural, mechanical, or protective components of the improvements, or the adequacy or quality of sewer, water or other utilities, the client should hire an expert in the appropriate discipline before relying upon this report. No warranties or guarantees of any kind are expressed or implied regarding the current or future physical condition or operability of any property component. 21. Any exhibits in the report are intended to assist the reader in visualizing the subject property and its surroundings. The drawings are not surveys unless specifically identified as such. No responsibility is assumed for cartographic accuracy. Drawings are not intended to be exact in size, scale, or detail. 22. Value opinions involve only real estate, and inconsequential personal property. Unless explicitly stated otherwise, value conclusions do not include personal property, unaffixed equipment, trade fixtures, business- good will, chattel, or franchise items of material worth. Page 143 of 178 26-1214 Kirkham Appraisals Inc. Page 83 Contingent and Limiting Conditions 23.All information and comments concerning the location, market area, trends, construction quality, construction costs, value loss, physical condition, rents, or any other data for the subject represent estimates and opinions of the Appraiser. Expenses shown in the Income Approach, if used, are only estimates. They are based on past operating history, if available, and are stabilized as generally typical over a reasonable ownership period. 24.No liability is assumed for matters of legal nature that affect the value of the subject property. Unless a clear statement to the contrary is made in this report, value opinion(s) formed herein are predicated upon the following assumptions. (A) The real property is appraised as though, and assumed free from all value impairments including yet not limited to title defects, liens, encumbrances, title claims, boundary discrepancies, encroachments, adverse easements, environmental hazards, pest infestation, leases, and atypical physical deficiencies. (B) All real estate taxes and assessments, of any type, are assumed fully paid. (C)It is assumed ownership of the property appraised is lawful. (D) It is also assumed the subject property is operated under competent and prudent management. (E) The subject property was appraised as though and assumed free of indebtedness. (F) The subject real estate is assumed fully compliant with all applicable federal, state, and local environmental regulations and laws. (G) The subject is assumed fully compliant with all applicable zoning ordinances, building codes, use regulations, and restrictions of all types. (H) All licenses, consents, permits, or other documentation required by any relevant legislative or governmental authority, private entity, or organization have been obtained, or can easily be obtained or renewed for a nominal fee. 25.Conversion of the subject's income into a market value opinion is based upon typical financing terms that were readily available from a disinterested, third-party lender on this report’s effective date. Atypical financing terms and conditions do not influence market value but may affect investment value. 26.This appraisal was prepared by Kirkham Appraisals Inc. and consists of trade secrets and commercial or financial information, which is privileged, confidential, and exempt from disclosure under 5 U.S.C. 522 (b) (4). 27.The Appraiser is not required to give testimony or produce documents because of having prepared this report unless arrangements are agreed to in advance. If the Appraiser is subpoenaed pursuant to court order or required to produce documents by judicial command, the client agrees to compensate the Appraiser for his appearance time, preparation time, travel time, and document preparation time at the regular hourly rate then in effect plus expenses and attorney fees. In the event the real property appraised is, or becomes the subject of litigation, a condemnation, or other legal proceeding, it is assumed the Appraiser will be given reasonable advanced notice, and reasonable additional time for court preparation. Page 144 of 178 26-1214 Kirkham Appraisals Inc. Page 84 Contingent and Limiting Conditions 28. Effective January 26, 1992, the Americans with Disabilities Act (ADA) - a national law, affects all non- residential real estate or the portion of any property, which is non-residential. The Appraiser has not observed the subject property to determine whether the subject conforms to the requirements of the ADA. It is possible a compliance survey, together with a detailed analysis of ADA requirements, could reveal the subject is not fully compliant. If such a determination was made, the subject's value may or may not be adversely affected. Since the Appraiser has no direct evidence, or knowledge pertaining to the subject's compliance or lack of compliance, this appraisal does not consider possible noncompliance or its effect on the subject's value. 29. Kirkham Appraisals Inc. and the Appraiser have no expertise in the field of insect, termite, or pest infestation. We are not qualified to detect the presence of these or any other unfavorable infestation. The Appraiser has no knowledge of the existence of any infestation on, under, above, or within the subject real estate. No overt evidence of infestation is apparent to the untrained eye. However, we have not specifically inspected or tested the subject property to determine the presence of any infestation. No effort was made to dismantle or probe the structure. No effort was exerted to observe enclosed, encased, or otherwise concealed evidence of infestation. The presence of any infestation would likely diminish the property's value. All value opinions in this communication assume there is no infestation of any type affecting the subject real estate or the Appraiser is not responsible for any infestation or for any expertise required to discover any infestation. Our client is urged to retain an expert in this field, if desired. 30. All opinions are those of the signatory Appraiser based on the information in this report. No responsibility is assumed by the Appraiser for changes in market conditions, or for the inability of the client, or any other party to achieve their desired results based upon the appraised value. Some of the assumptions or projections made herein can vary depending upon evolving events. We realize some assumptions may never occur and unexpected events or circumstances may occur. Therefore, actual results achieved during the projection period may differ from those set forth in this report. Compensation for appraisal services is dependent solely on the delivery of this report, and no other event or occurrence. 31. No warrantees are made by the Appraiser concerning the property's conformance with any applicable government code or property covenant including but not limited to all laws, ordinances, regulations, agreements, declarations, easements, condominium regulations, restrictions, either recorded or unrecorded. The client is urged to engage the services of a licensed attorney to confirm any legal issue affecting the property appraised. No liability or responsibility is assumed by the Appraiser to determine the cost of replacing or curing any supposedly defective physical component. 32. In the event of an alleged claim due to some defective physical component, the client must notify Kirkham Appraisals Inc. and allow its representatives and experts to examine and test the alleged defective component before any repairs or modifications are made. If any type of repair or modification is made without the knowledge of the Appraisers, the Appraiser is released from all liability, real or alleged. Page 145 of 178 26-1214 Kirkham Appraisals Inc. Page 85 Contingent and Limiting Conditions 33. The client and all explicitly identified intended users agree to notify in writing Kirkham Appraisals Inc., within one year of this report's preparation date, of any claim relating to or arising from this report regardless of any statute of limitations. If Kirkham Appraisals Inc. does not receive this written notification within the year period defined in the paragraph, then the claimant releases the Appraiser from all claims arising from or related to this report. 34. The client and all explicitly identified intended users acknowledge that any claim relating to this report shall be settled in accordance with the commercial arbitration rules of the American Arbitration Association with the Parties each paying an equal share of all associated costs. 35. Any alleged claim must be filed in the Circuit Court for the County that encompasses most of or all of Pocatello, Idaho 83206 where the Appraiser's business office is located. If a court of law voids any portion of these Contingent and Limiting Conditions, then the remainder remains in full force and effect. The claimants(s) agree not to contest the venue set forth herein and to submit to, and not contest, the exercise of personal jurisdiction over them by the foregoing court. The claimant(s) waive all rights concerning the exercise of personal jurisdiction of them by the foregoing courts and all claims of or concerning forum non- conveniences in the foregoing forum. 36. Superseding all comments to the contrary regardless of the date, this report may not be transferred or assigned without the prior written consent of Kirkham Appraisals Inc., the copyright holder. 37. No part of this report shall be published or disseminated to the public by advertising media, public relations media, news media, sales media, electronic devices, or other media without the prior written consent of Kirkham Appraisals Inc. This restriction applies particularly as to analyses, opinions, and conclusions; the identity of the Appraiser; and any reference to the Appraisal Institute or its MAI, SRPA, or SRA designations. Furthermore, no part of this report may be reproduced or incorporated into any information retrieval system without prior written permission from Kirkham Appraisals Inc., the copyright holder. Page 146 of 178 26-1214 Kirkham Appraisals Inc. Page 86 Certification The appraiser signing this report make the following certifications to the best of his / her knowledge and belief. ➢ The statements of fact contained in this report are true and correct. ➢ Reported analyses, opinions, and conclusions are limited only by the assumptions and limiting conditions contained within this report, and are the appraiser's personal, impartial, and unbiased professional analyses, opinions, and conclusions. ➢ The appraiser has no present or prospective interest in the property that is the subject of this report, and no personal interest with respect to the parties involved. ➢ The appraiser has no bias with respect to the property that is the subject of this report, or to the parties involved with this assignment. ➢ This engagement is not contingent upon developing or reporting predetermined results. ➢ Compensation paid to the appraiser is not contingent upon the development or reporting of a predetermined value, or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of the appraisal. ➢ Reported analyses, opinions, and conclusions were developed, and this report was prepared in conformity with the Uniform Standards of Professional Appraisal Practice (USPAP) ➢ A statement regarding observation of the subject property by the appraiser is listed below. The appraiser is not a professional property inspector. Furthermore, the appraiser has no formal training in the use of tools or instruments as part of a professional property inspection. Observations by the appraiser, if any, was limited to just those physical features and attributes that are not hidden or obscure in any fashion by any object or weather condition. The appraiser did not used any tools or instruments, beyond those typically used by appraisers to probe, study, investigate, detect, or discover any physical feature or attribute that was not clearly visible on the date the property was observed. Appraiser Observations Brian Kirkham, MAI Cursory Land Viewing ➢ No one provided significant real property appraisal assistance to the appraiser(s) signing this certification. ➢ In compliance with USPAP, the appraiser discloses that he has not performed any services regarding the subject property within the three years immediately preceding acceptance of this assignment. Page 147 of 178 26-1214 Kirkham Appraisals Inc. Page 87 Certification ➢ Use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. Brian Kirkham, MAI has completed continuing education required by the Appraisal Institute for its designated members. ➢ After careful consideration of all factors pertaining to and influencing value, the data, and analysis thereof firmly supports the following final value opinion(s) for the subject property as of May 10, 2026: $345,000 Market Value “As Is” Brian Kirkham, MAI Certified General Appraiser Idaho License CGA-3486 License Expiration Date: 5/9/2027 Page 148 of 178 26-1214 Kirkham Appraisals Inc. Page 88 ♦ Addenda • • • Digital Images Our world is rapidly shifting to a global economy in which technology and e-commerce play major roles. Digitized signatures and digital photographs are key elements of this shift. This appraisal may contain digital photographs, which are true and accurate representations. Brightness and/or contrast of these images may have been adjusted to enhance visibility when lighting conditions were too light or too dark. However, the content of these images was not altered or augmented in any way. Digital signatures may be affixed to this document. Statement 8 of USPAP recognizes and addresses the proper use of digitized signatures. In this document, a digital signature is a reproduction of the appraiser's actual signature. Software used for the affixation has a password security feature, which controls its usage. Page 149 of 178 26-1214 Kirkham Appraisals Inc. Page 89 Technical Qualifications Page 150 of 178 26-1214 Kirkham Appraisals Inc. Page 90 Engagement Letter Page 151 of 178 26-1214 Kirkham Appraisals Inc. Page 91 Page 152 of 178 26-1214 Kirkham Appraisals Inc. Page 92 Page 153 of 178 26-1214 Kirkham Appraisals Inc. Page 93 Page 154 of 178 26-1214 Kirkham Appraisals Inc. Page 94 Page 155 of 178 26-1214 Kirkham Appraisals Inc. Page 95 Copyright Protection © Copyright 2026 Kirkham Appraisals Inc. Pocatello, Idaho 83206 All Rights Reserved. No part of this document may be reproduced, nor may any portion be incorporated into any information retrieval system without written permission from Kirkham Appraisals Inc., the copyright holder. The descriptions, analyses, and conclusions stated herein are intended for the exclusive use of our client, City of Ammon, and other explicitly identified intended users, if any. This report should only be used for the intended use stated herein. Kirkham Appraisals Inc. retains all rights, title, and interests in all trademarks, trade names, trade secrets, data, conclusions, opinions, valuations, and other information included in, arising out of, or in any way related to this appraisal. No person or entity shall be entitled to break down, strip out, mine, or disseminate any component or portion of this report, including, but not limited to any valuations, opinions, data compilations, or conclusions. This report and all its contents are a culmination of intellectual and professional experiences, education, personal investigations, and know-how, which shall at all times remain the property of Kirkham Appraisals Inc., its sole owner. End of Report Page 156 of 178 pioneertitleco.com April 10, 2026 Order No.: 901693 RE: RPB2731001014O, TBD Hitt Road, Ammon, ID 83406 Dear Valued Customer, Thank you for giving Pioneer Title Company the opportunity to serve you. We appreciate your business and will strive to merit the confidence you have shown in us. Please find attached your title commitment. In it, you’ll find your preliminary title report with supporting documentation related to the property shown above. Should you have any questions regarding the documents contained herein including concerns related to exceptions, legal descriptions, or vesting, please contact any one of your Pioneer Title Company team members: Escrow Officer Teresa Wagoner Ph: (208)542-0040 Email: twagoner@pioneertitleco.com Title Officer Kristin Orme Ph: (208)542-0040 Email: korme@pioneertitleco.com Best Regards, Your Pioneer Title Co. Team Page 157 of 178 File No. 901693 Please review the following questions and contact your Escrow Officer or Title Officer if the answer to any is “Yes.” Are any principals using a Power of Attorney? Are any of the parties in title incapacitated or deceased? Has a change in marital status occurred for any of the principals? Is the property now vested, or will the property be transferred, to a new trust, partnership, or corporation? Has any construction or remodeling been done to the property in the last 90 days? Escrow Officer Teresa Wagoner Ph: (208)542-0040 Email: twagoner@pioneertitleco.com Title Officer Kristin Orme Ph: (208)542-0040 Email: korme@pioneertitleco.com Property Address:RPB2731001014O, TBD Hitt Road, Ammon, ID 83406 Buyer/Borrower:TBD Seller:the City of Ammon, an Idaho municipal corporation Page 158 of 178 American Land Title Association Commitment for Title Insurance [2021 v. 01.00 (07-01-2021)] This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. ALTA COMMITMENT FOR TITLE INSURANCE Issued by OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY NOTICE IMPORTANT—READ CAREFULLY: THIS COMMITMENT IS AN OFFER TO ISSUE ONE OR MORE TITLE INSURANCE POLICIES. ALL CLAIMS OR REMEDIES SOUGHT AGAINST THE COMPANY INVOLVING THE CONTENT OF THIS COMMITMENT OR THE POLICY MUST BE BASED SOLELY IN CONTRACT. THIS COMMITMENT IS NOT AN ABSTRACT OF TITLE, REPORT OF THE CONDITION OF TITLE, LEGAL OPINION, OPINION OF TITLE, OR OTHER REPRESENTATION OF THE STATUS OF TITLE. THE PROCEDURES USED BY THE COMPANY TO DETERMINE INSURABILITY OF THE TITLE, INCLUDING ANY SEARCH AND EXAMINATION, ARE PROPRIETARY TO THE COMPANY, WERE PERFORMED SOLELY FOR THE BENEFIT OF THE COMPANY, AND CREATE NO EXTRACONTRACTUAL LIABILITY TO ANY PERSON, INCLUDING A PROPOSED INSURED. THE COMPANY’S OBLIGATION UNDER THIS COMMITMENT IS TO ISSUE A POLICY TO A PROPOSED INSURED IDENTIFIED IN SCHEDULE A IN ACCORDANCE WITH THE TERMS AND PROVISIONS OF THIS COMMITMENT. THE COMPANY HAS NO LIABILITY OR OBLIGATION INVOLVING THE CONTENT OF THIS COMMITMENT TO ANY OTHER PERSON. COMMITMENT TO ISSUE POLICY Subject to the Notice; Schedule B, Part I—Requirements; Schedule B, Part II—Exceptions; and the Commitment Conditions, Old Republic National Title Insurance Company, a Florida corporation, (the “Company”), commits to issue the Policy according to the terms and provisions of this Commitment. This Commitment is effective as of the Commitment Date shown in Schedule A for each Policy described in Schedule A, only when the Company has entered in Schedule A both the specified dollar amount as the Proposed Amount of Insurance and the name of the Proposed Insured. If all of the Schedule B, Part I—Requirements have not been met within six months after the Commitment Date, this Commitment terminates and the Company’s liability and obligation end. Issued By: Pioneer Title Company of Bonneville County, LLC 1655 Elk Creek Drive, Suite 100 Idaho Falls, ID 83404 Authorized Agent for Old Republic National Title Insurance Company Authorized Signatory Page 159 of 178 American Land Title Association Commitment for Title Insurance [2021 v. 01.00 (07-01-2021)] This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. COMMITMENT CONDITIONS 1.DEFINITIONS a. “Discriminatory Covenant”: Any covenant, condition, restriction, or limitation that is unenforceable under applicable law because it illegally discriminates against a class of individuals based on personal characteristics such as race, color, religion, sex, sexual orientation, gender identity, familial status, disability, national origin, or other legally protected class. b. “Knowledge” or “Known”: Actual knowledge or actual notice, but not constructive notice imparted by the Public Records. c. “Land”: The land described in Item 5 of Schedule A and improvements located on that land that by State law constitute real property. The term “Land” does not include any property beyond that described in Schedule A, nor any right, title, interest, estate, or easement in any abutting street, road, avenue, alley, lane, right-of-way, body of water, or waterway, but does not modify or limit the extent that a right of access to and from the Land is to be insured by the Policy. d. “Mortgage”: A mortgage, deed of trust, trust deed, security deed, or other real property security instrument, including one evidenced by electronic means authorized by law. e. “Policy”: Each contract of title insurance, in a form adopted by the American Land Title Association, issued or to be issued by the Company pursuant to this Commitment. f. “Proposed Amount of Insurance”: Each dollar amount specified in Schedule A as the Proposed Amount of Insurance of each Policy to be issued pursuant to this Commitment. g. “Proposed Insured”: Each person identified in Schedule A as the Proposed Insured of each Policy to be issued pursuant to this Commitment. h. “Public Records”: The recording or filing system established under State statutes in effect at the Commitment Date under which a document must be recorded or filed to impart constructive notice of matters relating to the Title to a purchaser for value without Knowledge. The term “Public Records” does not include any other recording or filing system, including any pertaining to environmental remediation or protection, planning, permitting, zoning, licensing, building, health, public safety, or national security matters. i. “State”: The state or commonwealth of the United States within whose exterior boundaries the Land is located. The term “State” also includes the District of Columbia, the Commonwealth of Puerto Rico, the U.S. Virgin Islands, and Guam. j. “Title”: The estate or interest in the Land identified in Item 3 of Schedule A. 2.If all of the Schedule B, Part I—Requirements have not been met within the time period specified in the Commitment to Issue Policy, this Commitment terminates and the Company’s liability and obligation end. 3.The Company’s liability and obligation is limited by and this Commitment is not valid without: a. the Notice; b. the Commitment to Issue Policy; c. the Commitment Conditions; Page 160 of 178 American Land Title Association Commitment for Title Insurance [2021 v. 01.00 (07-01-2021)] This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. d. Schedule A; e. Schedule B, Part I—Requirements; and f. Schedule B, Part II—Exceptions; and g. a counter-signature by the Company or its issuing agent that may be in electronic form. 4.COMPANY’S RIGHT TO AMEND The Company may amend this Commitment at any time. If the Company amends this Commitment to add a defect, lien, encumbrance, adverse claim, or other matter recorded in the Public Records prior to the Commitment Date, any liability of the Company is limited by Commitment Condition 5. The Company is not liable for any other amendment to this Commitment. 5.LIMITATIONS OF LIABILITY a. The Company’s liability under Commitment Condition 4 is limited to the Proposed Insured’s actual expense incurred in the interval between the Company’s delivery to the Proposed Insured of the Commitment and the delivery of the amended Commitment, resulting from the Proposed Insured’s good faith reliance to: i. comply with the Schedule B, Part I—Requirements; ii. eliminate, with the Company’s written consent, any Schedule B, Part II—Exceptions; or iii. acquire the Title or create the Mortgage covered by this Commitment. b. The Company is not liable under Commitment Condition 5.a. if the Proposed Insured requested the amendment or had Knowledge of the matter and did not notify the Company about it in writing. c. The Company is only liable under Commitment Condition 4 if the Proposed Insured would not have incurred the expense had the Commitment included the added matter when the Commitment was first delivered to the Proposed Insured. d. The Company’s liability does not exceed the lesser of the Proposed Insured’s actual expense incurred in good faith and described in Commitment Condition 5.a. or the Proposed Amount of Insurance. e. The Company is not liable for the content of the Transaction Identification Data, if any. f. The Company is not obligated to issue the Policy referred to in this Commitment unless all of the Schedule B, Part I—Requirements have been met to the satisfaction of the Company. g. The Company’s liability is further limited by the terms and provisions of the Policy to be issued to the Proposed Insured. 6.LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT; CHOICE OF LAW AND CHOICE OF FORUM a. Only a Proposed Insured identified in Schedule A, and no other person, may make a claim under this Commitment. b. Any claim must be based in contract under the State law of the State where the Land is located and is restricted to the terms and provisions of this Commitment. Any litigation or other proceeding brought by the Proposed Insured against the Company must be filed only in a State or federal court having jurisdiction. c. This Commitment, as last revised, is the exclusive and entire agreement between the parties with respect to the subject matter of this Commitment and supersedes all prior commitment negotiations, representations, and proposals of any kind, whether written or oral, express or implied, relating to the subject matter of this Commitment. d. The deletion or modification of any Schedule B, Part II—Exception does not constitute an agreement or obligation to provide coverage beyond the terms and provisions of this Commitment or the Policy. Page 161 of 178 American Land Title Association Commitment for Title Insurance [2021 v. 01.00 (07-01-2021)] This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. e. Any amendment or endorsement to this Commitment must be in writing and authenticated by a person authorized by the Company. f. When the Policy is issued, all liability and obligation under this Commitment will end and the Company’s only liability will be under the Policy. 7.IF THIS COMMITMENT IS ISSUED BY AN ISSUING AGENT The issuing agent is the Company’s agent only for the limited purpose of issuing title insurance commitments and policies. The issuing agent is not the Company’s agent for closing, settlement, escrow, or any other purpose. 8.PRO-FORMA POLICY The Company may provide, at the request of a Proposed Insured, a pro-forma policy illustrating the coverage that the Company may provide. A pro-forma policy neither reflects the status of Title at the time that the pro-forma policy is delivered to a Proposed Insured, nor is it a commitment to insure. 9.CLAIMS PROCEDURES This Commitment incorporates by reference all Conditions for making a claim in the Policy to be issued to the Proposed Insured. Commitment Condition 9 does not modify the limitations of liability in Commitment Conditions 5 and 6. 10.CLASS ACTION ALL CLAIMS AND DISPUTES ARISING OUT OF OR RELATING TO THIS COMMITMENT, INCLUDING ANY SERVICE OR OTHER MATTER IN CONNECTION WITH ISSUING THIS COMMITMENT, ANY BREACH OF A COMMITMENT PROVISION, OR ANY OTHER CLAIM OR DISPUTE ARISING OUT OF OR RELATING TO THE TRANSACTION GIVING RISE TO THIS COMMITMENT, MUST BE BROUGHT IN AN INDIVIDUAL CAPACITY. NO PARTY MAY SERVE AS PLAINTIFF, CLASS MEMBER, OR PARTICIPANT IN ANY CLASS OR REPRESENTATIVE PROCEEDING. ANY POLICY ISSUED PURSUANT TO THIS COMMITMENT WILL CONTAIN A CLASS ACTION CONDITION. 11.ARBITRATION The Policy contains an arbitration clause. All arbitrable matters when the Proposed Amount of Insurance is $2,000,000 or less may be arbitrated at the election of either the Company or the Proposed Insured as the exclusive remedy of the parties. A Proposed Insured may review a copy of the arbitration rules at http://www.alta.org/arbitration. Page 162 of 178 American Land Title Association Commitment for Title Insurance [2021 v. 01.00 (07-01-2021)] This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Transaction Identification Data, for which the Company assumes no liability as set forth in Commitment Condition 5.e.: Issuing Agent: Pioneer Title Company of Bonneville County Issuing Office: 1655 Elk Creek Drive, Suite 100 Idaho Falls, ID 83404 Issuing Office’s ALTA® Registry ID: 1231504 Loan ID Number: Issuing Office File Number: 901693 Property Address: RPB2731001014O, TBD Hitt Road, Ammon, ID 83406 Revision Number: First Report SCHEDULE A 1.Commitment Date: March 30, 2026 at 7:30AM 2.Policy to be issued: Amount of Insurance Premiums: (a)2021 ALTA Owner’s Policy - 2021 Standard $TBD $TBD Proposed Insured: TBD Endorsements: $0.00 (b)2021 ALTA Lender’s Policy - Proposed Insured: $0.00 Endorsements: $0.00 3.The estate or interest in the Land at the Commitment Date is: FEE SIMPLE 4.The Title is, at the Commitment Date, vested in: the City of Ammon, an Idaho municipal corporation 5.The Land is described as follows: SEE EXHIBIT A ATTACHED HERETO AND MADE A PART HEREOF. Pioneer Title Company of Bonneville County By: Authorized Signatory Page 163 of 178 American Land Title Association Commitment for Title Insurance [2021 v. 01.00 (07-01-2021)] This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. SCHEDULE B, PART I—Requirements All of the following Requirements must be met: 1.The Proposed Insured must notify the Company in writing of the name of any party not referred to in this Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company may then make additional Requirements or Exceptions. 2.Pay the agreed amount for the estate or interest to be insured. 3.Pay the premiums, fees, and charges for the Policy to the Company. 4.Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both, must be properly authorized, executed, delivered, and recorded in the Public Records. 5.Proof of authority of the officers executing the proposed documents on behalf of the City of Ammon is required. 6.Please be advised that the Company will be sending a letter to the record owner’s mailing address for verification. SCHEDULE B, PART II—Exceptions Some historical land records contain Discriminatory Covenants that are illegal and unenforceable by law. This Commitment and the Policy treat any Discriminatory Covenant in a document referenced in Schedule B as if each Discriminatory Covenant is redacted, repudiated, removed, and not republished or recirculated. Only the remaining provisions of the document will be excepted from coverage. The Policy will not insure against loss or damage resulting from the terms and conditions of any lease or easement identified in Schedule A, and will include the following Exceptions unless cleared to the satisfaction of the Company: 1. Any defect, lien, encumbrance, adverse claim, or other matter that appears for the first time in the Public Records or is created, attaches, or is disclosed between the Commitment Date and the date on which all of the Schedule B, Part I—Requirements are met. 2. Rights or claims of parties in possession not shown by the public records. 3. Encroachments, overlaps, boundary line disputes, and any other matters which would be disclosed by an accurate survey or inspection of the premises including, but not limited to, insufficient or impaired access or matters contradictory to any survey plat shown by the public records. 4. Easements, or claims of easements, not shown by the public records. Page 164 of 178 American Land Title Association Commitment for Title Insurance [2021 v. 01.00 (07-01-2021)] This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. 5. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records. 6. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b) or (c) are shown by the public records. 7. Taxes or special assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the public records. Proceedings by a public agency which may result in taxes or assessments, or notices to such proceedings, whether or not shown by the records of such agency or by the public records. (Exceptions 1 through 7 will not appear as printed Exceptions on Extended Coverage Policies or the ALTA Homeowners Policy) 8. First/Second Subsequent tax for the year 2025 are paid. Parcel No.: RPB2731001014O Amount: $0 9. Covenants, conditions, restrictions and easements as set forth on the plat. Name of Plat: Ammon Town Center Division No. 1 First Amended Instrument:918705 RePlat of: Ammon Town Center Division No. 1 Instrument: 890889 ReRecorded as: 892803 10. Declaration of Restrictions and Grant of Easements Dated: December 8, 1994 Executed by: CPI/Ammon Limited Partnership, an Idaho limited partnership Recorded: December 9, 1994 Instrument No.: 890896 Deleting or omitting any covenant, condition or restriction indicating a preference, limitation or discrimination based on race, color, religion, sex, handicap, familial status, or national origin to the extent such covenants, conditions or restrictions violate 42 USC 3604(c). Amendment to said covenants Recorded: April 19, 1996 Instrument No.: 918713 Amendment to said covenants Recorded: June 7, 2000 Instrument No.: 1024263 Amendment to said covenants Recorded: December 6, 2001 Instrument No.: 1064679 Page 165 of 178 American Land Title Association Commitment for Title Insurance [2021 v. 01.00 (07-01-2021)] This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. 11. Levies and assessments, if any, of the following district and the rights, powers and easements of said district as provided by law. District: City of Ammon Local Improvement District 12. Levies and assessments, if any, of the following district and the rights, powers and easements of said district as provided by law. District: Eastern Idaho Regional Sewer District 13. An easement containing certain terms, conditions and provisions affecting a portion of said premises and for the purposes stated therein In Favor of: Intermountain Gas Company Recorded: February 5, 1971 Instrument No.: 414791 Affects Additional Property 14. An easement containing certain terms, conditions and provisions affecting a portion of said premises and for the purposes stated herein For: Operation, maintenance, and repair of lines In Favor of: Utah Power & Light Company Recorded: August 4, 1980 Instrument No.: 590580 Affects Additional Property 15. An easement containing certain terms, conditions and provisions affecting a portion of said premises and for the purposes stated therein In Favor of: The Mountain States Telephone and Telegraph Company Recorded: June 21, 1988 Instrument No.: 751083 Affects Additional Property 16. Terms, conditions, and provisions of Development Agreement: Between: the City of Idaho Falls, a municipal corporation and CPI/Ammon Limited Partnership, an Idaho partnership Dated: July 7, 1994 Recorded: July 12, 1994 Instrument No.: 881994 Addendum/amendment to said Agreement Recorded: November 2, 1995 Instrument No.: 909027 Addendum/amendment to said Agreement Recorded: April 19, 1996 Instrument No.: 918707 Page 166 of 178 American Land Title Association Commitment for Title Insurance [2021 v. 01.00 (07-01-2021)] This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. 17. Terms, conditions, and provisions of Development Agreement: Between: CPI/Ammon Limited Partnership, an Idaho limited partnership and Albertson's, Inc., a Delaware corporation Dated: December 8, 1994 Recorded: December 9, 1994 Instrument No.: 890894 Assignment and Assumption of said Agreement Recorded: December 9, 1994 Instrument No.: 890901 Addendum/Amendment to said Agreement Recorded: April 19, 1996 Instrument No.: 918715 18. Terms, conditions, and provisions of Commom Area Maintenance Agreement: Between: CPI/Ammon Limited Partnership, an Idaho limited partnership and Albertson's, Inc., a Delaware corporation Dated: December 8, 1994 Recorded: December 9, 1994 Instrument No.: 890895 Assignment and Assumption of said Agreement Recorded: December 9, 1994 Instrument No.:890901 Addendum/amendment to said Agreement Recorded: April 19, 1996 Instrument No.: 918714 Addendum/amendment to said Agreement Recorded: June 7, 2000 Instrument No.: 1024264 Addendum/amendment to said Agreement Recorded: December 6, 2001 Instrument No.: 1064678 Page 167 of 178 American Land Title Association Commitment for Title Insurance [2021 v. 01.00 (07-01-2021)] This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. 19. Terms, conditions, and provisions of Development Agreement: Between: the City of Ammon and CPI/Ammon Limited Partnership, an Idaho limited partnership Dated: October 4, 1994 Recorded: December 9, 1994 Instrument No.: 890898 Supplement to said Agreement Recorded: April 19, 1996 Instrument No.: 918708 Supplement to said Agreement Recorded: April 19, 1996 Instrument No.: 918709 20. Terms, conditions, and provisions of Memorandum of Owner Participation Agreement: Between: the Urban Renewal Agency of the City of Ammon, Idaho, also known as the Ammon Urban Renewal Agency and CPI/Ammon Limited Partnership Dated: December 4, 1994 Recorded: December 9, 1994 Instrument No.:890899 Agreement Recorded: April 2, 1996 Instrument No.: 917492 Certificate of Completion Recorded: April 2, 1996 Instrument No.:917493 Agreement Recorded: May 6, 1997 Instrument No.: 942028 Partial Certificate of Completion Recorded: May 6, 1997 Instrument No.: 942029 21. An easement for Bicycle and Pedestrian Access containing certain terms, conditions and provisions affecting a portion of said premises and for the purposes stated therein In Favor of: the City of Ammon Recorded: April 19, 1996 Instrument No.: 918706 Affects Additional Property Page 168 of 178 American Land Title Association Commitment for Title Insurance [2021 v. 01.00 (07-01-2021)] This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. 22. Terms, conditions, and provisions of Combined Tenant Estoppel and Subordination, Non-Disturbance and Attornment Agreement: Between: USG Annuity & Life Company and Albertson's, Inc., a Delaware corporation and CPI/Ammon, LLC, an Idaho limited liability company Dated: May 1, 2000 Recorded: June 7, 2000 Instrument No.: 1024266 Affects Additional Property 23. Order Establishing the Eastern Idaho Regional Sewer District Recorded: July 27, 2022 Instrument No.: 1729049 24. Unrecorded Leaseholds, if any, rights of parties in possession other than the vestees herein, rights of secured parties under financing statements as to personal property located on the premises herein and the rights of tenants to remove trade fixtures. End of Exceptions NOTE: As an accommodation and not part of this Commitment, no liability is assumed by noting the following conveyances describing all or part of the subject property, which have been recorded within the last 24 months: NONE The last deed of record is as follows: Deed Type:Special Warranty Deed Grantors:CPI/Ammon Limited Partnership, an Idaho limited partnership Grantees:the City of Ammon, an Idaho municipal corporation Dated:April 12, 1996 Recorded Date: April 19, 1996 Instrument::918716 ReRecorded as:918989 NOTE: The County Records and/or the City Engineer’s Office show the address to be: RPB2731001014O, TBD Hitt Road, Ammon, ID 83406 NOTE; If the proposed insured purchase is a transaction ultimately determined to require the filing of a report under the FinCEN Anti-Money Laundering Regulations for Residential Real Estate Transfers Rule dated August 29, 2024, then the Transferor and Transferee to this transaction must assist the settlement agent by: (1) Providing the Settlement Agent with all necessary information to file any and all required reports; (2) Complete the Anti- Money Laundering Information Collection & Certification Form; and (3) Provide copies of the driver’s license, passport, or other similar identifying documentation as may be required from transferor and transferee entities and trusts, their beneficial owners and parties who exercise substantial control. Page 169 of 178 American Land Title Association Commitment for Title Insurance [2021 v. 01.00 (07-01-2021)] This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. No title insurance policy will be issued to any purchaser unless the transferor and transferee, and their beneficial owners and parties who exercise substantial control, provide all information necessary to file all required FinCEN forms. NOTE: There is no notice of record and therefore no search has been made for any unpaid assessments, charges, or fees for sewer, water, garbage, irrigation, or other possible utility services. NOTE: If the proposed insured under the Policy to issue has any questions concerning the coverage or exclusions from coverage, the Company will be pleased to provide an explanation. NOTE: Pursuant to the State of Idaho insurance regulations, a cancellation fee may be charged on all cancelled orders. Unless otherwise advised, orders will be considered cancelled six months after the effective date on the Commitment. The amount of the fee assessed shall be in accordance with our rate filing with the Idaho Department of Insurance. Page 170 of 178 American Land Title Association Commitment for Title Insurance [2021 v. 01.00 (07-01-2021)] This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. EXHIBIT A Lot 14, Block 1, Ammon Town Center Division No. 1 First Amended, according to the plat thereof, filed as Instrument No. 918705, records of Bonneville County, Idaho. Page 171 of 178 American Land Title Association Commitment for Title Insurance [2021 v. 01.00 (07-01-2021)] This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. FACTS WHAT DOES OLD REPUBLIC TITLE DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and employment information What?Mortgage rates and payments and account balances Checking account information and wire transfer instructions When you are no longer our customer, we continue to share your information as described in this notice. How? All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Old Republic Title chooses to share; and whether you can limit this sharing. Reasons we can share your personal information Does Old Republic Title share? Can you limit this sharing? For our everyday business purposes — such as to process your transactions, maintain your account(s), or respond to court orders and legal investigations, or report to credit bureaus Yes No For our marketing purposes — to offer our products and services to you No We don’t share For joint marketing with other financial companies No We don’t share For our affiliates’ everyday business purposes — information about your transactions and experiences Yes No Page 172 of 178 American Land Title Association Commitment for Title Insurance [2021 v. 01.00 (07-01-2021)] This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. For our affiliates’ everyday business purposes — information about your creditworthiness No We don’t share For our affiliates to market to you No We don’t share For non-affiliates to market to you No We don’t share Questions?Go to www.oldrepublictitle.com (Contact Us) Who we are Who is providing this notice? Companies with an Old Republic Title name and other affiliates. Please see below for a list of affiliates. What we do How does Old Republic Title protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. For more information, visit https://www.oldrepublictitle.com/privacy-policy How does Old Republic Title collect my personal information? We collect your personal information, for example, when you: Give us your contact information or show your driver’s license Show your government-issued ID or provide your mortgage information Make a wire transfer We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. Federal law gives you the right to limit only: Sharing for affiliates’ everyday business purposes - information about your creditworthiness Affiliates from using your information to market to you Sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See the State Privacy Rights section location at https://www.oldrepublictitle.com/privacy- policy for your rights under state law. Why can’t I limit all sharing? Page 173 of 178 American Land Title Association Commitment for Title Insurance [2021 v. 01.00 (07-01-2021)] This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Definitions Affiliates Companies related by common ownership or control. They can be financial and nonfinancial companies. Our affiliates include companies with an Old Republic Title name, and financial companies such as Attorneys’ Title Fund Services, LLC, Lex Terrae National Title Services, Inc., Mississippi Valley Title Services Company, and The Title Company of North Carolina. Non-affiliates Companies not related by common ownership or control. They can be financial and nonfinancial companies. Old Republic Title does not share with non-affiliates so they can market to you Joint marketing A formal agreement between non-affiliated financial companies that together market financial products or services to you. Old Republic Title doesn’t jointly market. Page 174 of 178 American Land Title Association Commitment for Title Insurance [2021 v. 01.00 (07-01-2021)] This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Affiliates Who May be Delivering This Notice American First Title & Trust Company American Guaranty Title Insurance Company Attorneys' Title Fund Services, LLC Compass Abstract, Inc.eRecording Partners Network, LLC Genesis Abstract, LLC Guardian Consumer Services, Inc. iMarc, Inc.Kansas City Management Group, LLC L.T. Service Corp. Lenders Inspection Company Lex Terrae National Title Services, Inc. Lex Terrae, Ltd.Mississippi Valley Title Services Company National Title Agent's Services Company Old Republic Branch Information Services, Inc. Old Republic Diversified Services, Inc. Old Republic Escrow of Vancouver, Inc. Old Republic Exchange Company Old Republic National Ancillary Services, Inc. Old Republic National Commercial Title Services, Inc. Old Republic Title and Escrow of Hawaii, Ltd. Old Republic National Title Insurance Company Old Republic Title Company Old Republic Title Companies, Inc. Old Republic Title Company of Conroe Old Republic Title Company of Indiana Old Republic Title Company of Nevada Old Republic Title Company of Oklahoma Old Republic Title Company of Oregon Old Republic Title Company of St. Louis Old Republic Title Company of Tennessee Old Republic Title Information Concepts Old Republic Title Insurance Agency, Inc. Old Republic Title, Ltd. RamQuest Software, Inc. Republic Abstract & Settlement, LLC Sentry Abstract Company Surety Title Agency, Inc. The Title Company of North Carolina Trident Land Transfer Company, LLC Page 175 of 178 Page 176 of 178 Page 177 of 178 This drawing is to be used only for reference purposes. The Company is not responsible for any inaccuracies herein contained. Page 178 of 178