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Quint & Thimmig LLP 4/20/06 $51,250,000 TEMECULA PUBLIC FINANCING AUTHORITY COMMUNITY FACILITIES DISTRICT NO. 03-02 (RORIPAUGH RANCH) 2006 SPECIAL TAX BONDS INCUMBENCY AND SIGNATURE
CERTIFICATE The undersigned hereby state and certify: (i) that they are the duly elected or appointed, qualified and acting Executive Director and Secretary, respectively, of the Temecula
Public Financing Authority, a joint exercise of powers authority duly organized and existing under the laws of the State of California (the "Authority")/and as such, are familiar with
the facts herein certified and are authorized and qualified to certify the same; (ii) that the following are now, and have continuously been since the dates of the beginning of their
respective current terms of office shown below, the duly appointed, qualified and acting members of the Board of Directors of the Authority, and the dates of the ending of their respective
current terms of office are hereunder correctly designated opposite their names: Beginning Date Ending Date Directors of Current Term of Current Term Jeff Comerchero November, 2001 November,
2006 Ron Roberts November, 2001 November, 2006 Maryann Edwards November, 2005 November, 2006 Michael Naggar November, 2003 November, 2008 Chuck Washington November, 2003 November, 2008
(iii) that the signatures set forth opposite the names of the following persons are the true and correct specimens of, or are, the genuine signatures of such persons, each of whom holds
the office designated: Name and Title Signature Shawn D. Nelson, Executive Director Genie Roberts, Treasurer
Name and Title Signature Susan W. Jones, Secretary (iv) that the bonds issued by the Authority Designated V;Eernecula/f'ublic Financing Authority Community Facilities District No. 03-02
(Roripaugh Ranch) 2(305~5pecial Tax Bonds" (the "Bonds"), in the aggregate principal amount of $51,250,000, and dated the date hereof, have been executed by the manual or facsimile signature
of the within-named Executive Director and attested to by the manual signature of the within-named Secretary; and (v) that for and on behalf of the Authority, the within-named Executive
Director has executed the following: (a) Amended and Restated Deposit/Reimbursement Agreement, among the City of Temecula (the "City"), the Authority for itself and on behalf of the
Temecula Public Financing Authority Community Facilities District No. 03-02 (Roripaugh Ranch) (the "CFD"), Ashby USA, LLC and Galloway 220, LLC, (b) Joint Community Facilities Agreement
(Flood Control Improvements), dated as of November 1, 2004, among the Riverside County Flood Control and Water Conversation District, the County of Riverside (the "County"), the City,
the Authority and Ashby USA, LLC, (c) Joint Community Facilities Agreement (Street Improvements), dated as of November 1, 2004, among the County, the City, the Authority and Ashby USA,
LLC, (d) Joint Community Facilities Agreement -City, dated as of January 1, 2005, between the Authority and the City, (e) Joint Community Facilities Agreement, dated as of January 1,
2005, among the Authority, Ashby USA, LLC and the Eastern Municipal Water District ("EMWD"), (f) Joint Community Facilities Agreement -TCSD, dated as of January 1, 2005, between the
Authority and the Temecula Community Services District, (g) Acquisition Agreement, dated as of March 1, 2006, by and between the Authority and Ashby USA, LLC, (h) Fiscal Agent Agreement,
dated as of March 1, 2006, by and between the Authority and U.S. Bank National Association, as fiscal agent, (i) Assessment Lien Discharge Escrow Agreement, dated March 23, 2006, by
and between between the Authority and Ashby USA, LLC, (j) Bond Purchase Agreement, dated April 13, 2006 (the "Purchase Agreement"), between the Authority and Stone & Youngberg LLC, as
underwriter (the "Underwriter"), and -7-
(k) Official Statement, dated April 13, 2006. Dated: April 27, 2006 TEMECULA PUBLIC FINANCING AUTHORITY, for itself and on behalf of TEMECULA PUBLIC FINANCING AUTHORITY COMMUNITY FACILITIES
DISTRICT NO. 03-02 (RORIPAUGH RANCH) By. Shawn D. Nelson, Executive Director Susan W. Jo Secretary