This disclosure statement is intended to provide buyers with sufficient information to make an informed decision on the purchase, lease or acquisition of the property described below to which this statement applies. All buyers should read carefully all the information contained in this disclosure statement before deciding to buy, lease or otherwise acquire this property.

This property is not part of a subdivision. Neither Grant County nor the Board of County Commissioners vouches for the accuracy of what is contained in this disclosure statement. In addition, this disclosure statement is not a recommendation or an endorsement of the property by either the County or the State.

This property may or may not suit the buyer's intended purposes, depending upon the nature thereof, and seller’s make no guarantee to that end. No services, utilities or other considerations will be provided by, or guaranteed available by the sellers or their agents and no other guarantees are given, and no representation made except as specifically contained herein or in the sales agreement. Any questions relative to this land, the use thereof, or available services should be addressed to the appropriate persons qualified to answer such particular questions. This may include various county or state agencies, utility companies, private contractors, agents, surveyors, inspectors, attorneys or others.

Buyers agree to follow the federal, state and local laws, regulations, ordinances and policies related to the use, division, sale or other conveyance of the land. This includes the well water use, waste disposal, waste water disposal and building construction. All permits must be issued by state or county officials before improvements are made. Buyers should investigate the availability of such permits before they purchase, lease or otherwise acquire an interest in land.

This is currently grazing land; fenced, fully stocked with cattle, adequate grass and water. The land will continue to be used for grazing after sale with provisions for a home site. Grazing leases will be entered with each purchaser at the time of sale. The grazing status can be subsequently revoked by buyer and another tax status can be achieved. It is the intention of the developer to maintain this as a fully stocked, operating cattle ranch for as long as it is feasible to do so. Land owners are encouraged, to the extent they choose to, to enter into day-to-day operation of the ranch.
Developer makes no representations or warranties concerning access to any adjacent public land which are leased by others.

A. Name of development: MIMBRES MOUNTAIN RANCH

B. Name and address of developer: MMR, LLC ; P.O.Box 5051; Abilene, TX 79608

C. Name and address of person, company in charge of sales, leasing or other conveyance:

Tim Donovan, Broker
La Paloma Real Estate
Box 370
3516 Highway 25
Mimbers, NM 88049
575-536-3865

D. Size of development (present and anticipated): 1700 acres

E. Size of smallest tract offered for sale, lease or conveyance: 42 acres

F. Financing terms: Cash or bank financing

G. Name and address of holder of legal title:

MIMBRES MOUNTAIN RANCH, LLC
P.O. Box 5051
Abilene, TX 79608

H. BROKER DISCLOSURE:

Keith L. Schrimsher, a member of the Mimbres Mountain Ranch, LLC is a licensed New Mexico Real Estate Broker and Qualifying Broker for:
Schrimsher Ranch Real Estate, LLC ~ 110 North Lea, Roswell, New Mexico 88202.

A.E. Nelson Jr., a member of the Mimbres Mountain Ranch Partnership is a licensed Texas Real Estate Broker and Qualifying Broker for: Nelson Farm and Ranch Properties P.O. Box 5051, Abilene, Texas 79608.

I. Location of development: All or part of Sections 16, 20, 21, 22, 27, 28 and 29. T18S R10W NMPM Grant County, New Mexico.

J. Number of tracts: 28

K. Escrow Agent: TBD

L. Utilities:

Water: All tracts will be served by individual wells at Buyer’s expense. Purchaser will be provided with well logs of all nearby wells. If purchaser and developer so choose, they may negotiate the drilling of a well prior to closing.

Electricity: Electric power will be provided to the tract line of each tract. There will be individual metering for each tract.

Septic: All tracts will be served by individual septic systems at Buyer’s expense conforming to the existing EPA requirements.

M. Development Access: Access will originate from Highway 61 South. Each property will be granted an easement for ingress and egress to their property along the traveled roadways within the development.

N. Roads: Roads will be created to all tracts within a 60 foot dedicated easement with an ingress/egress easement granted to all purchasers together with an additional 15 foot equestrienne trail riding easement, 7.5’ per roadside, of all roadways. Property lines will extend to the center of the roadway easement.

O. Road Maintenance: Roads within the development will he maintained by the developer during the time period when any of the tracts are being sold. A dedicated budget has been established for periodic road maintenance by the developer. When all the tracts are sold, then the maintenance responsibility will be taken over by the property owners. The structure for accomplishing this will be discussed in the Homeowners Association Section below. Neither Grant County nor any other governmental agency assume any responsibility for the creation or maintenance of any roads within the development.

These restrictions shall run with the land and be binding on the parties and all persons claiming under them for a period of 25 years from the date of Warranty Deed in which these restrictions are incorporated by reference. At the end of 25 years these restrictions shall be automatically extended for successive periods of 10 years unless an instrument signed by a majority of the owners of the subject property has been recorded agreeing to change the restrictions in whole or in part. Enforcement against any person violating or attempting to violate any restrictions shall be by proceedings at law or in equity to restrain such violation or to recover damages. Invalidation of any one of these restrictions shall not affect any other provisions, which shall remain in full force and effect. .

A. Only site built homes will be allowed. Homes must be a minimum of 1600 square feet
and constructed out of new materials together with architecturally similar guest house,
casita and/or detached garage . Owners may live in a camp trailer or RV during
construction of home, not to exceed one year.

B. Buildings must be of natural tones compatible with natural surroundings to include
roof cover, all out buildings, fencing and gates.

C. All construction must set back a minimum of 50 feet from any property line.

C. All construction must set back a minimum of 50 feet from any property line.

D. No junk or inoperative vehicles allowed to accumulate.

E. Except for the land directly around the building sites, the land is to be left in its natural
state. There will be no clear-cutting, plowing or exploration, quarrying, mining or removal of any minerals, rocks, sand, soil or dirt. No structure, culvert, road , planting or any other material shall be placed or permitted to remain in a location which may change the direct flow of drainage channels on the property.

F. Over grazing will not be allowed and will be defined as follows:

1. Death of any number of a given plant species buy reason of consumption or
trampling by domestic animals to include browse lines.
2. Significant change in the appearance of the terrain by reason of grazing or
trampling.

G. Agricultural water lines, water storage tanks, earthen water storage tanks and cattle troughs are on site and operational. A Blank Easement for maintenance, repairs and continued use of livestock water infrastructure will occur simultaneously with the term of livestock grazing lease. No water line, water storage or drinking trough may be tied into, cut or intentionally interrupted.

H. A Blanket Easement for lessee cattle grazing and tract owners horse back riding shall go with the land and is only revocable by the fencing of any tract at Buyer’s expense.

I. Security lights may not shine on any areas beyond the boundaries of any tract. All
exterior lighting shall be in compliance with the Night Sky Beautification Act, all lights shall illuminate 30 degrees below the horizon.

J. There will be no business, manufacturing operations or commercial enterprise conducted on the property. No business or commercial signs are allowed.

K. There will be no loose running dogs. All dogs and pets must be secure and contained with reasonable sound control of all dogs.

L. Land tracts of 80 acres or more may be divided and resold as 42 acre tracts and larger, after purchase. Forty-two acre tracts may not be further subdivided for a period of 24 months after purchase. No subsequent division may create a tract of smaller than 20 acres.

M. No Big game hunting allowed by purchasers of any tract within the development.

N. If at any time the roadways within the property become under consideration by Grant County for maintenance or if any petition is made to the county for such, it is agreed by owners and any future owners and their successors, heirs, assignees or grantees that the will provide full cooperation to allow for such maintenance and/or county ownership of the roadways. This does not imply that Grant County is responsible or is considering responsibility for construction or maintenance of any roads within the development.

O. Developer shall retain a Blanket Easement to provide domestic water if necessary from a community well service to any tracts in development which prove to be unsuccessful developing domestic water. The well located on MMR Tract 18 and MMR Tract 12 is reserved by Seller.

P. Developer shall retain a Blanket Easement for provision of electric utilities.

A. Any tract owner in the MIMBRES MOUNTAIN RANCH is automatically a member of the association.

B. If a member sells his tract, the new owner automatically, upon notification, by the association succeeds to the membership.

C. The purpose of the MIMBRES MOUNTAIN RANCH ASSOCIATION is to provide for road maintenance within the development and any other business it chooses to conduct on behalf of the membership.

D. Rights and Responsibilities: All members shall have the right to be the Director or Officer for the HOA. All members shall have the responsibility for financial support of the association
.
E. Dues and Fees: There will be an annual fee, shared pro rata, by the membership for road maintenance. The amount of the fee will he based on an owner's share of cost of maintenance determined by bids from acceptable contractors.

F. The HOA is allowed to collect these road maintenance fees by any legal means available including assessments, liens, judgments, repossession or any other procedure of law.

G. Decisions by the HOA shall be by majority vote at regularly advertised meetings. A quorum shall consist of 40% of the membership in attendance.