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Sunset Subsidiary LLC uses the PENDRY and MONTAGE brand names and certain other KT IP and Montage trademarks (collectively, the “Trademarks”) in connection with the sales and marketing of the Residential Units in the Project under limited, non-exclusive and non-sublicensable licenses from Licensors. The project described herein (the “Project”) and the residential units located within the Project (the “Residential Units”) are not owned, developed, or sold by KT Intellectual Property Holding Company, LLC (“KT IP”), or Montage Hotels & Resorts, LLC (“Montage”) (collectively, “Licensors”) and Licensors do not make any representations, warranties or guaranties whatsoever with respect to the Residential Units, the Project or any part thereof. WARNING, THE CALIFORNIA DEPARTMENT OF REAL ESTATE HAS NOT INSPECTED, EXAMINED, OR QUALIFIED THIS OFFERING. The foregoing licenses may be terminated or may expire without renewal, in which case neither the Residential Units nor any part of the Project will be identified as a PENDRY-branded project or a MONTAGE-branded project or have any rights to use the Trademarks.