20303 Road 4, Chowchilla, CA 93610

Reported 2,458.51 net planted acres of wine grape vineyards. Another 453.27 acres are contained within open areas where vineyards were recently removed to provide set-aside land for water purposes with 3.10 acres in three reservoir sites, 7.55 acres in four farmsteads, 9.90 acres in yard areas, 10.40 acres in two solar sites and 258.97 acres in supporting farm roads, well sites and periphery. Irrigation is provided by 20 wells with supplemental water from the Eastside Bypass and the Ash Slough. A portion of the property is also eligible to receive Chowchilla Water District supplies during wet years. However, the strength of this property is that it is currently under an attractive long-term lease agreementto a high quality tenant with atermination date of December 31,2036. Rent is basedon a payable size of 2,457.20 acres, leaving additional acreage fallow for water set-aside. The lease provides a generous income to the property owner that results in a nearly 10% rate of return!...