Common use of Land Sales Clause in Contracts

Land Sales. Mission Bay Santa Fe Depot Gross land sales revenue Deposits applied toward closings Deposits received from buyers Closing costs Additional Closing Costs Net land sales revenue Infrastructure intrerest carry Mission Bay interim land NOI Mission Bay NOC bond proceeds & reimbursements Mission Bay SOC bond proceeds & reimbursements Total sources of funds Source of uses Capital expenditures: Mission Bay NOC Mission Bay SOC (including CFD pymts) SF Depot Property taxes Earnout Management fees Mission Bay CFD and G&A reimbursement Land Holding Costs/Lease Buyout Costs Total source of uses Net sources and uses Revenues - MB Xxxx Xxxxx Land Revenues Back Out: ARE Earn-Out Net Land Sales for Release Payments Other MB Revenues for Release Payments Total For Release Release Available Release % before & after Westbluffs FINAL CATELLUS DEVELOPMENT CORPORATION CUG CASH FLOW PROJECTION Nov 2004 thru 2018 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Source of funds Revenue:

Land Sales. Mission Bay Santa Fe Depot Gross land sales revenue Deposits applied toward closings Deposits received from buyers Closing costs Additional Closing Costs Net land sales revenue Infrastructure intrerest carry Mission Bay interim land NOI Mission Bay NOC bond proceeds & reimbursements Mission Bay SOC bond proceeds & reimbursements Total sources of funds Source of uses Capital expenditures: Mission Bay NOC Mission Bay SOC (including CFD pymts) SF Depot Property taxes Earnout Management fees Mission Bay CFD and G&A reimbursement Land Holding Costs/Lease Buyout Costs Total source of uses Net sources and uses Revenues - MB Xxxx Xxxxx Land Revenues Back Out: ARE Earn-Out Net Land Sales for Release Payments Other MB Revenues for Release Payments Total For Release Release Available Release % before & after Westbluffs FINAL CATELLUS DEVELOPMENT CORPORATION CUG CASH FLOW PROJECTION Nov 2004 thru 2018 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 2011 2012 2013 2014 2015 2016 2017 2018 Total Source of funds Revenue:

Land Sales. Mission Bay Santa Fe Depot Gross land sales revenue Deposits applied toward closings Deposits received from buyers Closing costs Additional Closing Costs Net land sales revenue Infrastructure intrerest carry Mission Bay interim land NOI Mission Bay NOC bond proceeds & reimbursements Mission Bay SOC bond proceeds & reimbursements Total sources of funds Source of uses Capital expenditures: Mission Bay NOC Mission Bay SOC (including CFD pymts) SF Depot Property taxes Earnout Management fees Mission Bay CFD and G&A reimbursement Land Holding Costs/Lease Buyout Costs Total source of uses Net sources and uses Revenues - MB Xxxx Xxxxx Land Revenues Back Out: ARE Earn-Out Net Land Sales for Release Payments Other MB Revenues for Release Payments Total For Release Release Available Release % Release% before & after Westbluffs FINAL CATELLUS DEVELOPMENT CORPORATION CUG CASH FLOW PROJECTION Nov 2004 thru 2018 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Source of funds Revenue:

Land Sales. Mission Bay Santa Fe Depot Gross land sales revenue Deposits applied toward closings Deposits received from buyers Closing costs Additional Closing Costs Net land sales revenue Infrastructure intrerest carry Mission Bay interim land NOI Mission Bay NOC bond proceeds & reimbursements Mission Bay SOC bond proceeds & reimbursements Total sources of funds Source of uses Capital expenditures: Mission Bay NOC Mission Bay SOC (including CFD pymts) SF Depot Property taxes Earnout Management fees Mission Bay CFD and G&A reimbursement Land Holding Costs/Lease Buyout Costs Total source of uses Net sources and uses Revenues - MB Xxxx Xxxxx Land Revenues Back Out: ARE Earn-Out Net Land Sales for Release Payments Other MB Revenues for Release Payments Total For Release Release Available Release % before & after Westbluffs FINAL CATELLUS DEVELOPMENT CORPORATION CUG CASH FLOW PROJECTION Nov 2004 thru 2018 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-07 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Source of funds Revenue:

Land Sales. Mission Bay Santa Fe Depot Gross land sales revenue Deposits applied toward closings Deposits received from buyers Closing costs Additional Closing Costs Net land sales revenue Infrastructure intrerest carry Mission Bay interim land NOI Mission Bay NOC bond proceeds & reimbursements Mission Bay SOC bond proceeds & reimbursements Total sources of funds Source of uses Capital expenditures: Mission Bay NOC Mission Bay SOC (including CFD pymts) SF Depot Property taxes Earnout Management fees Mission Bay CFD and G&A reimbursement Land Holding Costs/Lease Buyout Costs Total source of uses Net sources and uses Revenues - MB Xxxx Xxxxx Land Revenues Back Out: ARE Earn-Out Net Land Sales for Release Payments Other MB Revenues for Release Payments Total For Release Release Available Release % before & after Westbluffs FINAL CATELLUS DEVELOPMENT CORPORATION CUG CASH FLOW PROJECTION Nov 2004 thru 2018 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Jul-06 Aug-06 Sep-06 Oct-06 Nov-06 Dec-06 Jan-07 Feb-07 Mar-07 Apr-07 May-07 Jun-07 Jul-07 Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Source of funds Revenue: