Arizona First Partners 3 LLC

NEWS: A progressive summary of What's New on the Lone Mountain Custom Home Project.

LEGAL: Arizona First Partners 3 LLC is an affiliated limited liability company of Arizona First Development LLC. The Articles of Organization were filed on October 27, 2005. The Affidavit of Publication was filed on January 29, 2007. The Federal Employer Identification Number is 20-3906084. The Statory Agent is David Haney and the Manager is Arizona First Development LLC. The registered office is 5041 E Pershing Ave, Scottsdale, AZ 85254. The company operates pursuant to its Operating Agreement and Subscription Agreement of its investing members. The investment offering is only for accredited investors, as outlined in the Investment Disclosure Document and the Private Placement Offering Memorandum.

OWNERS: The current owners of this limited liability company are set forth in Exhibit B of the Operating Agreement. There are two (2) classes of owners "managing" members and "investing" members. The managing member is David Haney. The investing members, evidenced by the executed Subscription Agreements, are Robert & Susan Briggs, Robert & Kristen Hilvers, Paul & Stephanie Phelps. and Wadsworth Neil LLC, with Ron Neil as its manager, and Jeff & Trish Wadsworth, and Ron & Nancy Neil as its members.

PURPOSE: The Investment Disclosure document outlines the purpose of the company. which is to acquire aprroximately 4.45 acres in Scottsdale, Arizona, and design, build and sell a custom estate home with equestrian facilities and/or other estate amenitites. As photos, drawings, renderings, maps, surveys, and concepts for the improvements, such as site, elevation, floor, and roof plans become available, they'll be posted to the Properties page for this investment project.