[sheet: Settlement Statement]

Line No.	Description	Buyer Debit	Buyer Credit	Seller Debit	Seller Credit	Notes
100	GROSS AMOUNT DUE FROM BUYER	Section Header
101	Contract Sales Price	19,400,000.00	19,400,000.00	Per PSA dated April 22, 2025; 19.4 acres at $1,000,000/acre
102	Settlement Charges to Buyer (from Line 1400)	187,925.00	See line 500 total below
103	Gross Amount Due from Buyer	19,587,925.00	Line 101 + Line 102
200	AMOUNTS PAID BY OR ON BEHALF OF BUYER	Section Header
201	Earnest Money Deposit (held by Fidelitas Title & Escrow, Inc.)	970,000.00	$970,000 deposited at PSA execution (5% of $19,400,000)
202	Real Estate Tax Proration — Credit to Buyer	105,523.29	Seller owes buyer for unpaid taxes Jan 1 – Sept 14, 2025 (257 days); see Proration Calculations sheet
203	Total Paid By / On Behalf of Buyer	1,075,523.29	Sum of Lines 201–202
300	BALANCE DUE FROM BUYER	Section Header
301	Cash Due from Buyer at Closing	18,512,401.71	Line 103 minus Line 203
400	GROSS AMOUNT DUE TO SELLER	Section Header
401	Contract Sales Price	19,400,000.00	Per PSA dated April 22, 2025
500	REDUCTIONS IN AMOUNT DUE TO SELLER	Section Header
501	Real Estate Tax Proration — Seller's Share (Jan 1 – Sept 14, 2025)	105,523.29	257 days × $410.59 per diem; see Proration Calculations sheet
502	Virginia State Grantor's Tax	19,400.00	Va. Code § 58.1-801; $1.00 per $1,000 of consideration
503	Loudoun County Additional Grantor's Tax (Regional Congestion Relief)	29,100.00	Va. Code § 58.1-801.1; $0.15 per $100 of consideration
504	Seller's Share — Escrow / Settlement Fee (Fidelitas Title & Escrow, Inc.)	2,500.00	50% of $5,000 total settlement fee; split equally per PSA
505	Seller's Counsel Fees — Dunleavy & Dunmore Benefits Consulting, PLLC	45,000.00	Fiona Dunleavy, lead attorney
506	1099-S Preparation Fee	250.00	Fidelitas Title & Escrow, Inc.; IRS reporting
507	Total Reductions in Amount Due to Seller	201,773.29	Sum of Lines 501–506
600	NET DUE TO SELLER AT CLOSING	Section Header
601	Cash Due to Seller at Closing	19,198,226.71	Line 401 minus Line 507
700	SETTLEMENT CHARGES — BUYER (Detail)	Section Header
701	Owner's Title Insurance Premium (Sovereign Title Insurance Company via Fidelitas Title & Escrow, Inc.) — $19,400,000 policy	42,500.00	Policy amount: $19,400,000; standard VA commercial rate

702	ALTA/NSPS Survey — Lumen Ridge Engineering, PLLC (Meridian Parcel share)	18,500.00	Survey completed by June 15, 2025; Carlos Esteban, PE
703	Phase I Environmental Site Assessment — Pendleton Environmental Associates, Inc.	8,500.00	Completed by June 1, 2025; Dr. Renata Volkov lead
704	Appraisal Fee — Greystone Appraisal Partners, LLC	12,000.00	Janet Choi, MAI; independent MAI appraisal for construction lender
705	Virginia State Recordation Tax (Deed)	48,500.00	Va. Code § 58.1-802; $0.25 per $100 of consideration
706	Recording Fee — Special Warranty Deed (Loudoun County Circuit Court)	100.00	Virginia recording fees; per county fee schedule
707	Loudoun County Transfer Tax — Buyer Portion	0.00	No additional local transfer tax applicable per contract
708	Buyer's Share — Escrow / Settlement Fee (Fidelitas Title & Escrow, Inc.)	2,500.00	50% of $5,000 total settlement fee; split equally per PSA
709	Buyer's Counsel Fees — Calderwood & Harkness LLP	47,500.00	Matter No. 1043-00002; Douglas Fairchild / Cynthia Ho
710	Title Search / Examination Fee — Fidelitas Title & Escrow, Inc.	3,750.00	Title commitment effective date: April 10, 2025
711	UCC / Judgment / Tax Lien Search Fees	1,200.00	Federal and state lien search — Loudoun County
712	Title Endorsements (survey, access, zoning, etc.)	2,875.00	Various ALTA endorsements requested by buyer
800	TOTAL BUYER SETTLEMENT CHARGES (Line 1400)	187,925.00	Sum of Lines 701–712
900	SETTLEMENT CHARGES — SELLER (Detail)	Section Header
901	Virginia State Grantor's Tax	19,400.00	Va. Code § 58.1-801; $1.00 per $1,000 of consideration; est. $19,400
902	Loudoun County Additional Grantor's Tax (Regional Congestion Relief)	29,100.00	Va. Code § 58.1-801.1; $0.15 per $100 of consideration
903	Seller's Share — Escrow / Settlement Fee (Fidelitas Title & Escrow, Inc.)	2,500.00	50% of $5,000 total settlement fee
904	Seller's Counsel Fees — Dunleavy & Dunmore Benefits Consulting, PLLC	45,000.00	Fiona Dunleavy, lead attorney
905	1099-S Preparation Fee	250.00	Fidelitas Title & Escrow, Inc.
906	TOTAL SELLER SETTLEMENT CHARGES	96,250.00	Sum of Lines 901–905
1000	SUMMARY	Section Header
1001	Net Due from Buyer at Closing (wire to escrow)	18,512,401.71	= Gross Amount Due ($19,587,925.00) − Earnest Money ($970,000.00) − Buyer Tax Proration Credit ($105,523.29)
1002	Net Due to Seller at Closing (wire from escrow)	19,198,226.71	= Purchase Price ($19,400,000.00) − Seller Charges ($96,250.00) − Seller Tax Proration ($105,523.29)

[sheet: Closing Checklist]

Item No.	Category	Document / Deliverable	Responsible Party	Due Date	Status	Notes
1	SELLER DELIVERABLES	Special Warranty Deed — Meridian Parcel (Meridian Acres LLC to Stonebridge Campus Holdings LLC)	Dunleavy & Dunmore Benefits Consulting, PLLC / Fiona Dunleavy	September 15, 2025	Draft	Conveyance of 19.4 acres; Loudoun County Tax Map Ref. /95-4A-2///; for recording in Loudoun County
2	SELLER DELIVERABLES	Seller's Affidavit (owner's affidavit / FIRPTA / gap affidavit)	Dunleavy & Dunmore Benefits Consulting, PLLC	September 15, 2025	Draft	Meridian Acres LLC — Theodore Ashford, Managing Member
3	SELLER DELIVERABLES	FIRPTA Certificate (Non-Foreign Person Certification) — Meridian Acres LLC	Dunleavy & Dunmore Benefits Consulting, PLLC	September 15, 2025	Draft	Certification under IRC § 1445
4	SELLER DELIVERABLES	Certificate of Good Standing — Meridian Acres LLC (Virginia SCC)	Dunleavy & Dunmore Benefits Consulting, PLLC	Within 30 days of closing	Pending	Virginia LLC; EIN 84-6120983
5	SELLER DELIVERABLES	Authority Resolution / Certificate of Managing Member — Meridian Acres LLC	Dunleavy & Dunmore Benefits Consulting, PLLC	September 15, 2025	Draft	Authorizing Theodore Ashford to execute deed and closing documents
6	SELLER DELIVERABLES	Mechanic's Lien Affidavit / No-Lien Certification	Dunleavy & Dunmore Benefits Consulting, PLLC	September 15, 2025	Draft	Seller certifies no outstanding mechanic's or materialman's liens
7	SELLER DELIVERABLES	1099-S Information (tax reporting)	Fidelitas Title & Escrow, Inc.	September 15, 2025	Pending	For IRS reporting
8	SELLER DELIVERABLES	Existing Survey / Plat (if available)	Dunleavy & Dunmore Benefits Consulting, PLLC	Prior to closing	Pending	To be supplemented by Buyer's ALTA survey
9	SELLER DELIVERABLES	Copies of Existing Leases, Contracts, or Encumbrances (if any)	Dunleavy & Dunmore Benefits Consulting, PLLC	During due diligence	Pending	Per PSA Section re: due diligence materials
10	SELLER DELIVERABLES	Seller's Closing Certificate (representations and warranties)	Dunleavy & Dunmore Benefits Consulting, PLLC	September 15, 2025	Draft	Bring-down of PSA representations as of closing date
11	BUYER DELIVERABLES	Assignment and Assumption of Meridian PSA (IHDC to Stonebridge Campus Holdings LLC)	Calderwood & Harkness LLP / Cynthia Ho	Prior to closing	Draft	IHDC assigns buyer rights under PSA to single-purpose borrower entity
12	BUYER DELIVERABLES	Articles of Organization — Stonebridge Campus Holdings LLC (Virginia LLC)	Calderwood & Harkness LLP	Prior to closing	Draft	To be filed with Virginia SCC; single-purpose borrower entity, wholly owned by IHDC
13	BUYER DELIVERABLES	Operating Agreement — Stonebridge Campus Holdings LLC	Calderwood & Harkness LLP	Prior to closing	Draft	Single-purpose entity with separateness covenants
14	BUYER DELIVERABLES	Certificate of Good Standing — Ironhaven Data Centers LLC (Delaware SOS / Virginia SCC)	Calderwood & Harkness LLP	Within 30 days of closing	Pending	Delaware LLC; HQ: 44680 Prentice Drive, Suite 200, Ashburn, VA 20147; Virginia SCC Entity ID S7491283
15	BUYER DELIVERABLES	Certificate of Good Standing — Stonebridge Campus Holdings LLC (Virginia SCC)	Calderwood & Harkness LLP	Within 30 days of closing	Pending	EIN to be obtained upon formation
16	BUYER DELIVERABLES	Secretary's / Officer's Certificate — IHDC (Authority to Enter Into Transactions)	Calderwood & Harkness LLP	September 15, 2025	Draft	Certifying Marcus Thorne (CEO) and Priya Dasgupta (CFO) as authorized signatories
17	BUYER DELIVERABLES	Board / Member Consent Resolution — IHDC Authorizing Meridian Parcel Acquisition	Calderwood & Harkness LLP	Prior to closing	Draft	Part of omnibus authorization for $600M Stonebridge Campus development
18	BUYER DELIVERABLES	Proof of Funds / Evidence of Closing Funds (wire transfer)	Ironhaven Data Centers LLC / Priya Dasgupta	September 15, 2025	Pending	Net amount due to be wired to Fidelitas Title & Escrow, Inc.
19	BUYER DELIVERABLES	Buyer's Closing Certificate (representations and warranties)	Calderwood & Harkness LLP / Cynthia Ho	September 15, 2025	Draft	Bring-down of PSA representations as of closing date
20	TITLE & SURVEY	Title Commitment — Meridian Parcel (Fidelitas Title & Escrow, Inc. / Sovereign Title Insurance Company)	Fidelitas Title & Escrow, Inc.	Issued April 10, 2025	Received	Owner's policy amount: $19,400,000; effective date April 10, 2025
21	TITLE & SURVEY	Title Objection Letter to Dunleavy & Dunmore Benefits Consulting, PLLC	Calderwood & Harkness LLP / Grace Nakamura	During due diligence	Draft	Identifying Schedule B-II exceptions requiring curative action
22	TITLE & SURVEY	Seller's Response to Title Objections / Curative Documents	Dunleavy & Dunmore Benefits Consulting, PLLC / Fiona Dunleavy	Prior to closing	Pending	Cure of objected exceptions
23	TITLE & SURVEY	Updated / Pro Forma Title Commitment (post-cure)	Fidelitas Title & Escrow, Inc.	Prior to closing	Pending	Confirming removal / endorsement over of objected exceptions
24	TITLE & SURVEY	Owner's Title Insurance Policy — Meridian Parcel ($19,400,000)	Fidelitas Title & Escrow, Inc. / Sovereign Title Insurance Company	At or post-closing	Pending	To be issued upon recording of deed

25	TITLE & SURVEY	ALTA/NSPS Land Title Survey — Meridian Parcel (19.4 acres)	Lumen Ridge Engineering, PLLC / Carlos Esteban, PE	June 15, 2025	Pending	Survey to identify easement locations for substation and utility routing
26	TITLE & SURVEY	Survey Review Memorandum — Meridian Parcel	Calderwood & Harkness LLP / Grace Nakamura	After survey completion	Draft	Internal review of survey findings
27	TITLE & SURVEY	Title Endorsements Order (survey, access, zoning, contiguity, etc.)	Fidelitas Title & Escrow, Inc.	Prior to closing	Pending	Various ALTA endorsements required by buyer and lender
28	ENVIRONMENTAL	Phase I Environmental Site Assessment — Meridian Parcel	Pendleton Environmental Associates, Inc. / Dr. Renata Volkov	June 1, 2025	Pending	Phase I ESA completion target
29	ENVIRONMENTAL	Environmental Due Diligence Summary Memorandum — Meridian Parcel	Calderwood & Harkness LLP / Grace Nakamura	After Phase I completion	Draft	Internal summary of Phase I findings
30	DUE DILIGENCE	Due Diligence Expiration Notice / Confirmation	Calderwood & Harkness LLP / Cynthia Ho	July 7, 2025	Pending	75-day due diligence period expires July 7, 2025 (75 days from April 22, 2025 PSA execution)
31	DUE DILIGENCE	Geotechnical Investigation Report — Meridian Parcel	Brannigan Geotechnical Engineering, LLC / Neil Brannigan, PE	During due diligence	Pending	Foundation design recommendations
32	DUE DILIGENCE	Appraisal — Meridian Parcel	Greystone Appraisal Partners, LLC / Janet Choi, MAI	During due diligence	Pending	Independent MAI appraisal for construction lender
33	DUE DILIGENCE	Zoning Verification Letter — Loudoun County Dept. of Planning & Zoning	Cornerstone Land Use Consulting, LLC / Alan Mercer	During due diligence	Pending	Confirm PD-IP zoning and data center use eligibility
34	DUE DILIGENCE	Utility Availability Letters (water, sewer, electric, fiber)	Calderwood & Harkness LLP / Grace Nakamura	During due diligence	Pending	Including Vantage Power Cooperative capacity confirmation
35	ESCROW & FUNDS	Escrow Agreement — Earnest Money Deposit (Meridian)	Fidelitas Title & Escrow, Inc.	April 22, 2025	Executed	Governs $970,000 earnest money deposit
36	ESCROW & FUNDS	Evidence of Earnest Money Deposit ($970,000)	Fidelitas Title & Escrow, Inc.	April 22, 2025	Confirmed	$970,000 deposited at PSA execution
37	ESCROW & FUNDS	Closing Funds Wire Instructions — Fidelitas Title & Escrow, Inc.	Fidelitas Title & Escrow, Inc.	Prior to closing	Pending	44121 Harry Byrd Highway, Suite 120, Ashburn, VA 20147
38	ESCROW & FUNDS	Settlement Statement — Meridian Parcel (executed)	Fidelitas Title & Escrow, Inc.	September 15, 2025	Draft	See Settlement Statement sheet in this workbook
39	ESCROW & FUNDS	Wire Confirmation — Buyer's Closing Funds to Escrow	Ironhaven Data Centers LLC / Priya Dasgupta	September 15, 2025	Pending	Net amount $18,512,401.71 to be wired
40	ESCROW & FUNDS	Wire Confirmation — Escrow Disbursement to Seller	Fidelitas Title & Escrow, Inc.	September 15, 2025	Pending	Net amount $19,198,226.71 to seller
41	RECORDING & POST-CLOSING	Recording of Special Warranty Deed — Loudoun County Circuit Court	Fidelitas Title & Escrow, Inc.	September 15, 2025	Pending	Deed from Meridian Acres LLC to Stonebridge Campus Holdings LLC
42	RECORDING & POST-CLOSING	Confirmation of Deed Recording and Return of Recorded Deed	Fidelitas Title & Escrow, Inc.	Post-closing	Pending	Loudoun County Tax Map Ref. /95-4A-2///
43	RECORDING & POST-CLOSING	Issuance of Final Owner's Title Insurance Policy	Fidelitas Title & Escrow, Inc. / Sovereign Title Insurance Company	Post-closing	Pending	$19,400,000 policy
44	RECORDING & POST-CLOSING	Transfer of Possession / Delivery of Keys (if applicable)	Meridian Acres LLC / Theodore Ashford	September 15, 2025	Pending	Vacant land; confirm no possessory interests
45	RECORDING & POST-CLOSING	Notice to Vantage Power Cooperative of Land Closing	Calderwood & Harkness LLP	Post-closing	Pending	In connection with substation easement planning on Meridian Parcel
46	RECORDING & POST-CLOSING	Post-Closing Tax Assessment Reassignment Notice — Loudoun County Commissioner of the Revenue	Fidelitas Title & Escrow, Inc.	Post-closing	Pending	Notify county of change in ownership for tax billing
47	RELATED AGREEMENTS	Substation Easement Agreement (Meridian Parcel — in favor of VPC)	Calderwood & Harkness LLP / Cynthia Ho	At or following closing	Draft	Non-exclusive easement for dedicated 230kV/34.5kV substation; VPC Service Application No. LSA-2025-0091
48	RELATED AGREEMENTS	Cross-Access and Utility Easement Agreement — Stonebridge Parcel and Meridian Parcel	Calderwood & Harkness LLP	At or following closing	Draft	Reciprocal access and utility easements for unified campus operations
49	COORDINATION	Coordinate with Stonebridge Parcel Closing (simultaneous closing target Sept 15, 2025)	Calderwood & Harkness LLP / Cynthia Ho	September 15, 2025	Pending	Blackthorn Realty Group, Inc. — Stonebridge Parcel ($58,500,000); combined land cost $77,900,000

[sheet: Key Transaction Data]

Field	Value
Transaction	Acquisition of Meridian Parcel — Stonebridge Data Center Campus
Seller	Meridian Acres LLC
Seller Contact	Theodore Ashford, Managing Member
Seller Address	3401 Old Ox Road, Sterling, VA 20166
Seller EIN	84-6120983
Seller's Counsel	Dunleavy & Dunmore Benefits Consulting, PLLC — Fiona Dunleavy
Seller's Counsel Address	118 North King Street, Leesburg, VA 20176
Buyer (Original)	Ironhaven Data Centers LLC
Buyer (Assignee / Grantee)	Stonebridge Campus Holdings LLC (Virginia LLC, to be formed, wholly owned by IHDC)
Buyer Contact	Marcus Thorne, CEO / Priya Dasgupta, CFO / Leonard Castellano, EVP Development
Buyer HQ Address	44680 Prentice Drive, Suite 200, Ashburn, VA 20147
Buyer EIN (IHDC)	84-3291057
Virginia SCC Entity ID (IHDC)	S7491283
Buyer's Counsel (Lead)	Calderwood & Harkness LLP — Douglas Fairchild (Responsible Partner); Angela Fontaine (Billing Partner); Cynthia Ho (Lead Associate); Grace Nakamura (Working Associate)
C&H Matter No.	1043-00002
C&H Primary Office	425 Lexington Avenue, New York, NY 10017
C&H DC Office	1900 K Street NW, Suite 800, Washington, DC 20006
Property Description	19.4-acre parcel adjacent to Stonebridge Parcel, Ashburn, VA 20148
Loudoun County Tax Map Ref.	/95-4A-2///
Property Location	Adjacent to Stonebridge Parcel on the east, near Belmont Ridge Road and Stonebridge Boulevard
Property Use	Utility routing, substation easement, and additional building pads for Stonebridge Data Center Campus
Purchase Price	$19,400,000
Price Per Acre	$1,000,000
Acreage	19.4 acres

Earnest Money Deposit	$970,000 (5% of purchase price)
Earnest Money Timing	Full amount at PSA execution (April 22, 2025)
PSA Execution Date	April 22, 2025
Due Diligence Period	75 days from PSA execution
Due Diligence Expiration	July 7, 2025
Targeted Closing Date	September 15, 2025
Existing Zoning	PD-IP (Planned Development – Industrial Park)
Required Entitlement	ZMOD for data center use; Docket No. ZMOD-2025-0038
ZMOD Filing Target	May 30, 2025
ZMOD Approval Target	October 2025 (Loudoun County Board of Supervisors)
Escrow Agent / Title Company	Fidelitas Title & Escrow, Inc.
Escrow Agent Address	44121 Harry Byrd Highway, Suite 120, Ashburn, VA 20147
Title Underwriter	Sovereign Title Insurance Company
Title Commitment Effective Date	April 10, 2025
Owner's Title Policy Amount	$19,400,000
Surveyor	Lumen Ridge Engineering, PLLC — Carlos Esteban, PE
ALTA Survey Target	June 15, 2025
Environmental Consultant	Pendleton Environmental Associates, Inc. — Dr. Renata Volkov
Phase I ESA Target	June 1, 2025
Geotechnical Consultant	Brannigan Geotechnical Engineering, LLC — Neil Brannigan, PE
Appraiser	Greystone Appraisal Partners, LLC — Janet Choi, MAI
Land Use Consultant	Cornerstone Land Use Consulting, LLC — Alan Mercer
Local Zoning Counsel	Ashcroft & Wynn, P.C. — Thomas Ashcroft; 25 West Market Street, Leesburg, VA 20176
Equity Sponsor	Ridgeline Capital Partners Fund IV, LP (92% via RCP Digital Holdings LLC)
Equity Sponsor Contact	Julian Hargrove, Managing Partner, Ridgeline Capital Management LLC

Ridgeline Investment ID	RCP-IV-2025-DC-07
Total Project Budget	$600,000,000 (Stonebridge Data Center Campus — 96 MW across 4 buildings on 81.4 acres)
Total Land Budget (both parcels)	$77,900,000 ($58,500,000 Stonebridge + $19,400,000 Meridian)
Construction Lender	Summit National Bank, N.A. — $390,000,000 construction facility; Ref. CL-2025-VA-04418
Lender's Counsel	Redmond & Calloway LLP — Victor Redmond
Construction Loan Closing Target	October 15, 2025
Governing Law	Commonwealth of Virginia

[sheet: Proration Calculations]

Item	Annual Amount	Proration Period	Days — Seller	Days — Buyer	Per Diem Rate	Seller Owes	Buyer Owes	Debit/Credit Direction	Notes
Real Estate Taxes — Loudoun County (Calendar Year 2025)	149,866.85	Jan 1 – Dec 31, 2025	257	108	410.59	105,523.29	44,343.56	Credit to Buyer / Debit to Seller	Seller responsible through Sept 14; Buyer from Sept 15; estimated based on Loudoun County assessed value of ~$12,850,000 at current tax rate of $1.165/$100; 257 days seller / 108 days buyer; taxes unpaid at closing; seller credits buyer for seller's share
Stormwater Management Fee — Loudoun County (Calendar Year 2025)	485.00	Jan 1 – Dec 31, 2025	257	108	1.33	341.81	143.56	Credit to Buyer / Debit to Seller	Annual fee prorated; seller responsible through Sept 14; taxes unpaid at closing
Utility Charges (if any)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	Vacant land — no active utility accounts expected; confirm with seller
HOA / Association Dues (if any)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	No HOA applicable to Meridian Parcel
TOTALS	150,351.85	257	108	411.92	105,865.10	44,487.12	Total prorations; 257 + 108 = 365 days ✓; seller credits buyer $105,865.10 at closing

[sheet: Transfer Tax & Recording Fees]

Fee / Tax Description	Basis	Rate	Amount	Paid By	Statutory / Contractual Reference	Notes
Virginia State Grantor's Tax	$19,400,000 (consideration)	$0.50 per $500 (i.e., $1.00 per $1,000)	19,400.00	Seller	Va. Code § 58.1-801	Standard Virginia grantor's tax; seller obligation per statute
Virginia State Recordation Tax (Deed)	$19,400,000 (consideration)	$0.25 per $100	48,500.00	Buyer	Va. Code § 58.1-802	State recordation tax on deed; buyer obligation per PSA
Loudoun County Additional Grantor's Tax (Regional Congestion Relief Fee)	$19,400,000 (consideration)	$0.15 per $100	29,100.00	Seller	Va. Code § 58.1-801.1; Loudoun County opt-in	Additional grantor's tax in qualifying Northern Virginia localities; seller obligation
Deed Recording Fee — Loudoun County Circuit Court Clerk	Per deed	Per county schedule (base fee + per page)	100.00	Buyer	Loudoun County fee schedule	Fixed fee per document; estimated at $100 for standard deed (approximately 5–8 pages)
Deed of Trust Recording Fee (if applicable at land closing)	N/A — no deed of trust at land closing	N/A	0.00	N/A	N/A	Construction loan closing scheduled for October 15, 2025; deed of trust recording fees will apply at that time
Processing / Handling Fee — Loudoun County Circuit Court	Per deed	Per county schedule	35.00	Buyer	Loudoun County fee schedule	Clerk's processing fee for deed recording
TOTAL ESTIMATED TRANSFER TAXES & RECORDING FEES	97,135.00	Sum of all line items; $48,600 seller responsibility ($19,400 + $29,100 + $100 allocation) / $48,635 buyer responsibility ($48,500 + $100 + $35); final amounts confirmed at closing
— Subtotal: Seller Responsibility	48,500.00	Seller	Grantor's Tax ($19,400) + Regional Congestion Relief ($29,100)
— Subtotal: Buyer Responsibility	48,635.00	Buyer	Recordation Tax ($48,500) + Recording Fee ($100) + Processing Fee ($35)

[sheet: Settlement Statement]
Line No. | Description | Buyer Debit | Buyer Credit | Seller Debit | Seller Credit | Notes
100 | GROSS AMOUNT DUE FROM BUYER | Section Header
101 | Contract Sales Price | 19,400,000.00 | 19,400,000.00 | Per PSA dated April 22, 2025; 19.4 acres at $1,000,000/acre
102 | Settlement Charges to Buyer (from Line 1400) | 187,925.00 | See line 500 total below
103 | Gross Amount Due from Buyer | 19,587,925.00 | Line 101 + Line 102
200 | AMOUNTS PAID BY OR ON BEHALF OF BUYER | Section Header
201 | Earnest Money Deposit (held by Fidelitas Title & Escrow, Inc.) | 970,000.00 | $970,000 deposited at PSA execution (5% of $19,400,000)
202 | Real Estate Tax Proration — Credit to Buyer | 105,523.29 | Seller owes buyer for unpaid taxes Jan 1 – Sept 14, 2025 (257 days); see Proration Calculations sheet
203 | Total Paid By / On Behalf of Buyer | 1,075,523.29 | Sum of Lines 201–202
300 | BALANCE DUE FROM BUYER | Section Header
301 | Cash Due from Buyer at Closing | 18,512,401.71 | Line 103 minus Line 203
400 | GROSS AMOUNT DUE TO SELLER | Section Header
401 | Contract Sales Price | 19,400,000.00 | Per PSA dated April 22, 2025
500 | REDUCTIONS IN AMOUNT DUE TO SELLER | Section Header
501 | Real Estate Tax Proration — Seller's Share (Jan 1 – Sept 14, 2025) | 105,523.29 | 257 days × $410.59 per diem; see Proration Calculations sheet
502 | Virginia State Grantor's Tax | 19,400.00 | Va. Code § 58.1-801; $1.00 per $1,000 of consideration
503 | Loudoun County Additional Grantor's Tax (Regional Congestion Relief) | 29,100.00 | Va. Code § 58.1-801.1; $0.15 per $100 of consideration
504 | Seller's Share — Escrow / Settlement Fee (Fidelitas Title & Escrow, Inc.) | 2,500.00 | 50% of $5,000 total settlement fee; split equally per PSA
505 | Seller's Counsel Fees — Dunleavy & Dunmore Benefits Consulting, PLLC | 45,000.00 | Fiona Dunleavy, lead attorney
506 | 1099-S Preparation Fee | 250.00 | Fidelitas Title & Escrow, Inc.; IRS reporting
507 | Total Reductions in Amount Due to Seller | 201,773.29 | Sum of Lines 501–506
600 | NET DUE TO SELLER AT CLOSING | Section Header
601 | Cash Due to Seller at Closing | 19,198,226.71 | Line 401 minus Line 507
700 | SETTLEMENT CHARGES — BUYER (Detail) | Section Header
701 | Owner's Title Insurance Premium (Sovereign Title Insurance Company via Fidelitas Title & Escrow, Inc.) — $19,400,000 policy | 42,500.00 | Policy amount: $19,400,000; standard VA commercial rate
702 | ALTA/NSPS Survey — Lumen Ridge Engineering, PLLC (Meridian Parcel share) | 18,500.00 | Survey completed by June 15, 2025; Carlos Esteban, PE
703 | Phase I Environmental Site Assessment — Pendleton Environmental Associates, Inc. | 8,500.00 | Completed by June 1, 2025; Dr. Renata Volkov lead
704 | Appraisal Fee — Greystone Appraisal Partners, LLC | 12,000.00 | Janet Choi, MAI; independent MAI appraisal for construction lender
705 | Virginia State Recordation Tax (Deed) | 48,500.00 | Va. Code § 58.1-802; $0.25 per $100 of consideration
706 | Recording Fee — Special Warranty Deed (Loudoun County Circuit Court) | 100.00 | Virginia recording fees; per county fee schedule
707 | Loudoun County Transfer Tax — Buyer Portion | 0.00 | No additional local transfer tax applicable per contract
708 | Buyer's Share — Escrow / Settlement Fee (Fidelitas Title & Escrow, Inc.) | 2,500.00 | 50% of $5,000 total settlement fee; split equally per PSA
709 | Buyer's Counsel Fees — Calderwood & Harkness LLP | 47,500.00 | Matter No. 1043-00002; Douglas Fairchild / Cynthia Ho
710 | Title Search / Examination Fee — Fidelitas Title & Escrow, Inc. | 3,750.00 | Title commitment effective date: April 10, 2025
711 | UCC / Judgment / Tax Lien Search Fees | 1,200.00 | Federal and state lien search — Loudoun County
712 | Title Endorsements (survey, access, zoning, etc.) | 2,875.00 | Various ALTA endorsements requested by buyer
800 | TOTAL BUYER SETTLEMENT CHARGES (Line 1400) | 187,925.00 | Sum of Lines 701–712
900 | SETTLEMENT CHARGES — SELLER (Detail) | Section Header
901 | Virginia State Grantor's Tax | 19,400.00 | Va. Code § 58.1-801; $1.00 per $1,000 of consideration; est. $19,400
902 | Loudoun County Additional Grantor's Tax (Regional Congestion Relief) | 29,100.00 | Va. Code § 58.1-801.1; $0.15 per $100 of consideration
903 | Seller's Share — Escrow / Settlement Fee (Fidelitas Title & Escrow, Inc.) | 2,500.00 | 50% of $5,000 total settlement fee
904 | Seller's Counsel Fees — Dunleavy & Dunmore Benefits Consulting, PLLC | 45,000.00 | Fiona Dunleavy, lead attorney
905 | 1099-S Preparation Fee | 250.00 | Fidelitas Title & Escrow, Inc.
906 | TOTAL SELLER SETTLEMENT CHARGES | 96,250.00 | Sum of Lines 901–905
1000 | SUMMARY | Section Header
1001 | Net Due from Buyer at Closing (wire to escrow) | 18,512,401.71 | = Gross Amount Due ($19,587,925.00) − Earnest Money ($970,000.00) − Buyer Tax Proration Credit ($105,523.29)
1002 | Net Due to Seller at Closing (wire from escrow) | 19,198,226.71 | = Purchase Price ($19,400,000.00) − Seller Charges ($96,250.00) − Seller Tax Proration ($105,523.29)
[sheet: Closing Checklist]
Item No. | Category | Document / Deliverable | Responsible Party | Due Date | Status | Notes
1 | SELLER DELIVERABLES | Special Warranty Deed — Meridian Parcel (Meridian Acres LLC to Stonebridge Campus Holdings LLC) | Dunleavy & Dunmore Benefits Consulting, PLLC / Fiona Dunleavy | September 15, 2025 | Draft | Conveyance of 19.4 acres; Loudoun County Tax Map Ref. /95-4A-2///; for recording in Loudoun County
2 | SELLER DELIVERABLES | Seller's Affidavit (owner's affidavit / FIRPTA / gap affidavit) | Dunleavy & Dunmore Benefits Consulting, PLLC | September 15, 2025 | Draft | Meridian Acres LLC — Theodore Ashford, Managing Member
3 | SELLER DELIVERABLES | FIRPTA Certificate (Non-Foreign Person Certification) — Meridian Acres LLC | Dunleavy & Dunmore Benefits Consulting, PLLC | September 15, 2025 | Draft | Certification under IRC § 1445
4 | SELLER DELIVERABLES | Certificate of Good Standing — Meridian Acres LLC (Virginia SCC) | Dunleavy & Dunmore Benefits Consulting, PLLC | Within 30 days of closing | Pending | Virginia LLC; EIN 84-6120983
5 | SELLER DELIVERABLES | Authority Resolution / Certificate of Managing Member — Meridian Acres LLC | Dunleavy & Dunmore Benefits Consulting, PLLC | September 15, 2025 | Draft | Authorizing Theodore Ashford to execute deed and closing documents
6 | SELLER DELIVERABLES | Mechanic's Lien Affidavit / No-Lien Certification | Dunleavy & Dunmore Benefits Consulting, PLLC | September 15, 2025 | Draft | Seller certifies no outstanding mechanic's or materialman's liens
7 | SELLER DELIVERABLES | 1099-S Information (tax reporting) | Fidelitas Title & Escrow, Inc. | September 15, 2025 | Pending | For IRS reporting
8 | SELLER DELIVERABLES | Existing Survey / Plat (if available) | Dunleavy & Dunmore Benefits Consulting, PLLC | Prior to closing | Pending | To be supplemented by Buyer's ALTA survey
9 | SELLER DELIVERABLES | Copies of Existing Leases, Contracts, or Encumbrances (if any) | Dunleavy & Dunmore Benefits Consulting, PLLC | During due diligence | Pending | Per PSA Section re: due diligence materials
10 | SELLER DELIVERABLES | Seller's Closing Certificate (representations and warranties) | Dunleavy & Dunmore Benefits Consulting, PLLC | September 15, 2025 | Draft | Bring-down of PSA representations as of closing date
11 | BUYER DELIVERABLES | Assignment and Assumption of Meridian PSA (IHDC to Stonebridge Campus Holdings LLC) | Calderwood & Harkness LLP / Cynthia Ho | Prior to closing | Draft | IHDC assigns buyer rights under PSA to single-purpose borrower entity
12 | BUYER DELIVERABLES | Articles of Organization — Stonebridge Campus Holdings LLC (Virginia LLC) | Calderwood & Harkness LLP | Prior to closing | Draft | To be filed with Virginia SCC; single-purpose borrower entity, wholly owned by IHDC
13 | BUYER DELIVERABLES | Operating Agreement — Stonebridge Campus Holdings LLC | Calderwood & Harkness LLP | Prior to closing | Draft | Single-purpose entity with separateness covenants
14 | BUYER DELIVERABLES | Certificate of Good Standing — Ironhaven Data Centers LLC (Delaware SOS / Virginia SCC) | Calderwood & Harkness LLP | Within 30 days of closing | Pending | Delaware LLC; HQ: 44680 Prentice Drive, Suite 200, Ashburn, VA 20147; Virginia SCC Entity ID S7491283
15 | BUYER DELIVERABLES | Certificate of Good Standing — Stonebridge Campus Holdings LLC (Virginia SCC) | Calderwood & Harkness LLP | Within 30 days of closing | Pending | EIN to be obtained upon formation
16 | BUYER DELIVERABLES | Secretary's / Officer's Certificate — IHDC (Authority to Enter Into Transactions) | Calderwood & Harkness LLP | September 15, 2025 | Draft | Certifying Marcus Thorne (CEO) and Priya Dasgupta (CFO) as authorized signatories
17 | BUYER DELIVERABLES | Board / Member Consent Resolution — IHDC Authorizing Meridian Parcel Acquisition | Calderwood & Harkness LLP | Prior to closing | Draft | Part of omnibus authorization for $600M Stonebridge Campus development
18 | BUYER DELIVERABLES | Proof of Funds / Evidence of Closing Funds (wire transfer) | Ironhaven Data Centers LLC / Priya Dasgupta | September 15, 2025 | Pending | Net amount due to be wired to Fidelitas Title & Escrow, Inc.
19 | BUYER DELIVERABLES | Buyer's Closing Certificate (representations and warranties) | Calderwood & Harkness LLP / Cynthia Ho | September 15, 2025 | Draft | Bring-down of PSA representations as of closing date
20 | TITLE & SURVEY | Title Commitment — Meridian Parcel (Fidelitas Title & Escrow, Inc. / Sovereign Title Insurance Company) | Fidelitas Title & Escrow, Inc. | Issued April 10, 2025 | Received | Owner's policy amount: $19,400,000; effective date April 10, 2025
21 | TITLE & SURVEY | Title Objection Letter to Dunleavy & Dunmore Benefits Consulting, PLLC | Calderwood & Harkness LLP / Grace Nakamura | During due diligence | Draft | Identifying Schedule B-II exceptions requiring curative action
22 | TITLE & SURVEY | Seller's Response to Title Objections / Curative Documents | Dunleavy & Dunmore Benefits Consulting, PLLC / Fiona Dunleavy | Prior to closing | Pending | Cure of objected exceptions
23 | TITLE & SURVEY | Updated / Pro Forma Title Commitment (post-cure) | Fidelitas Title & Escrow, Inc. | Prior to closing | Pending | Confirming removal / endorsement over of objected exceptions
24 | TITLE & SURVEY | Owner's Title Insurance Policy — Meridian Parcel ($19,400,000) | Fidelitas Title & Escrow, Inc. / Sovereign Title Insurance Company | At or post-closing | Pending | To be issued upon recording of deed
25 | TITLE & SURVEY | ALTA/NSPS Land Title Survey — Meridian Parcel (19.4 acres) | Lumen Ridge Engineering, PLLC / Carlos Esteban, PE | June 15, 2025 | Pending | Survey to identify easement locations for substation and utility routing
26 | TITLE & SURVEY | Survey Review Memorandum — Meridian Parcel | Calderwood & Harkness LLP / Grace Nakamura | After survey completion | Draft | Internal review of survey findings
27 | TITLE & SURVEY | Title Endorsements Order (survey, access, zoning, contiguity, etc.) | Fidelitas Title & Escrow, Inc. | Prior to closing | Pending | Various ALTA endorsements required by buyer and lender
28 | ENVIRONMENTAL | Phase I Environmental Site Assessment — Meridian Parcel | Pendleton Environmental Associates, Inc. / Dr. Renata Volkov | June 1, 2025 | Pending | Phase I ESA completion target
29 | ENVIRONMENTAL | Environmental Due Diligence Summary Memorandum — Meridian Parcel | Calderwood & Harkness LLP / Grace Nakamura | After Phase I completion | Draft | Internal summary of Phase I findings
30 | DUE DILIGENCE | Due Diligence Expiration Notice / Confirmation | Calderwood & Harkness LLP / Cynthia Ho | July 7, 2025 | Pending | 75-day due diligence period expires July 7, 2025 (75 days from April 22, 2025 PSA execution)
31 | DUE DILIGENCE | Geotechnical Investigation Report — Meridian Parcel | Brannigan Geotechnical Engineering, LLC / Neil Brannigan, PE | During due diligence | Pending | Foundation design recommendations
32 | DUE DILIGENCE | Appraisal — Meridian Parcel | Greystone Appraisal Partners, LLC / Janet Choi, MAI | During due diligence | Pending | Independent MAI appraisal for construction lender
33 | DUE DILIGENCE | Zoning Verification Letter — Loudoun County Dept. of Planning & Zoning | Cornerstone Land Use Consulting, LLC / Alan Mercer | During due diligence | Pending | Confirm PD-IP zoning and data center use eligibility
34 | DUE DILIGENCE | Utility Availability Letters (water, sewer, electric, fiber) | Calderwood & Harkness LLP / Grace Nakamura | During due diligence | Pending | Including Vantage Power Cooperative capacity confirmation
35 | ESCROW & FUNDS | Escrow Agreement — Earnest Money Deposit (Meridian) | Fidelitas Title & Escrow, Inc. | April 22, 2025 | Executed | Governs $970,000 earnest money deposit
36 | ESCROW & FUNDS | Evidence of Earnest Money Deposit ($970,000) | Fidelitas Title & Escrow, Inc. | April 22, 2025 | Confirmed | $970,000 deposited at PSA execution
37 | ESCROW & FUNDS | Closing Funds Wire Instructions — Fidelitas Title & Escrow, Inc. | Fidelitas Title & Escrow, Inc. | Prior to closing | Pending | 44121 Harry Byrd Highway, Suite 120, Ashburn, VA 20147
38 | ESCROW & FUNDS | Settlement Statement — Meridian Parcel (executed) | Fidelitas Title & Escrow, Inc. | September 15, 2025 | Draft | See Settlement Statement sheet in this workbook
39 | ESCROW & FUNDS | Wire Confirmation — Buyer's Closing Funds to Escrow | Ironhaven Data Centers LLC / Priya Dasgupta | September 15, 2025 | Pending | Net amount $18,512,401.71 to be wired
40 | ESCROW & FUNDS | Wire Confirmation — Escrow Disbursement to Seller | Fidelitas Title & Escrow, Inc. | September 15, 2025 | Pending | Net amount $19,198,226.71 to seller
41 | RECORDING & POST-CLOSING | Recording of Special Warranty Deed — Loudoun County Circuit Court | Fidelitas Title & Escrow, Inc. | September 15, 2025 | Pending | Deed from Meridian Acres LLC to Stonebridge Campus Holdings LLC
42 | RECORDING & POST-CLOSING | Confirmation of Deed Recording and Return of Recorded Deed | Fidelitas Title & Escrow, Inc. | Post-closing | Pending | Loudoun County Tax Map Ref. /95-4A-2///
43 | RECORDING & POST-CLOSING | Issuance of Final Owner's Title Insurance Policy | Fidelitas Title & Escrow, Inc. / Sovereign Title Insurance Company | Post-closing | Pending | $19,400,000 policy
44 | RECORDING & POST-CLOSING | Transfer of Possession / Delivery of Keys (if applicable) | Meridian Acres LLC / Theodore Ashford | September 15, 2025 | Pending | Vacant land; confirm no possessory interests
45 | RECORDING & POST-CLOSING | Notice to Vantage Power Cooperative of Land Closing | Calderwood & Harkness LLP | Post-closing | Pending | In connection with substation easement planning on Meridian Parcel
46 | RECORDING & POST-CLOSING | Post-Closing Tax Assessment Reassignment Notice — Loudoun County Commissioner of the Revenue | Fidelitas Title & Escrow, Inc. | Post-closing | Pending | Notify county of change in ownership for tax billing
47 | RELATED AGREEMENTS | Substation Easement Agreement (Meridian Parcel — in favor of VPC) | Calderwood & Harkness LLP / Cynthia Ho | At or following closing | Draft | Non-exclusive easement for dedicated 230kV/34.5kV substation; VPC Service Application No. LSA-2025-0091
48 | RELATED AGREEMENTS | Cross-Access and Utility Easement Agreement — Stonebridge Parcel and Meridian Parcel | Calderwood & Harkness LLP | At or following closing | Draft | Reciprocal access and utility easements for unified campus operations
49 | COORDINATION | Coordinate with Stonebridge Parcel Closing (simultaneous closing target Sept 15, 2025) | Calderwood & Harkness LLP / Cynthia Ho | September 15, 2025 | Pending | Blackthorn Realty Group, Inc. — Stonebridge Parcel ($58,500,000); combined land cost $77,900,000
50 | COORDINATION | Coordinate with Construction Loan Closing (October 15, 2025) | Calderwood & Harkness LLP / Douglas Fairchild | October 15, 2025 | Pending | Summit National Bank, N.A. $390M facility; Ref. CL-2025-VA-04418; lender's counsel: Redmond & Calloway LLP / Victor Redmond
[sheet: Key Transaction Data]
Field | Value
Transaction | Acquisition of Meridian Parcel — Stonebridge Data Center Campus
Seller | Meridian Acres LLC
Seller Contact | Theodore Ashford, Managing Member
Seller Address | 3401 Old Ox Road, Sterling, VA 20166
Seller EIN | 84-6120983
Seller's Counsel | Dunleavy & Dunmore Benefits Consulting, PLLC — Fiona Dunleavy
Seller's Counsel Address | 118 North King Street, Leesburg, VA 20176
Buyer (Original) | Ironhaven Data Centers LLC
Buyer (Assignee / Grantee) | Stonebridge Campus Holdings LLC (Virginia LLC, to be formed, wholly owned by IHDC)
Buyer Contact | Marcus Thorne, CEO / Priya Dasgupta, CFO / Leonard Castellano, EVP Development
Buyer HQ Address | 44680 Prentice Drive, Suite 200, Ashburn, VA 20147
Buyer EIN (IHDC) | 84-3291057
Virginia SCC Entity ID (IHDC) | S7491283
Buyer's Counsel (Lead) | Calderwood & Harkness LLP — Douglas Fairchild (Responsible Partner); Angela Fontaine (Billing Partner); Cynthia Ho (Lead Associate); Grace Nakamura (Working Associate)
C&H Matter No. | 1043-00002
C&H Primary Office | 425 Lexington Avenue, New York, NY 10017
C&H DC Office | 1900 K Street NW, Suite 800, Washington, DC 20006
Property Description | 19.4-acre parcel adjacent to Stonebridge Parcel, Ashburn, VA 20148
Loudoun County Tax Map Ref. | /95-4A-2///
Property Location | Adjacent to Stonebridge Parcel on the east, near Belmont Ridge Road and Stonebridge Boulevard
Property Use | Utility routing, substation easement, and additional building pads for Stonebridge Data Center Campus
Purchase Price | $19,400,000
Price Per Acre | $1,000,000
Acreage | 19.4 acres
Earnest Money Deposit | $970,000 (5% of purchase price)
Earnest Money Timing | Full amount at PSA execution (April 22, 2025)
PSA Execution Date | April 22, 2025
Due Diligence Period | 75 days from PSA execution
Due Diligence Expiration | July 7, 2025
Targeted Closing Date | September 15, 2025
Existing Zoning | PD-IP (Planned Development – Industrial Park)
Required Entitlement | ZMOD for data center use; Docket No. ZMOD-2025-0038
ZMOD Filing Target | May 30, 2025
ZMOD Approval Target | October 2025 (Loudoun County Board of Supervisors)
Escrow Agent / Title Company | Fidelitas Title & Escrow, Inc.
Escrow Agent Address | 44121 Harry Byrd Highway, Suite 120, Ashburn, VA 20147
Title Underwriter | Sovereign Title Insurance Company
Title Commitment Effective Date | April 10, 2025
Owner's Title Policy Amount | $19,400,000
Surveyor | Lumen Ridge Engineering, PLLC — Carlos Esteban, PE
ALTA Survey Target | June 15, 2025
Environmental Consultant | Pendleton Environmental Associates, Inc. — Dr. Renata Volkov
Phase I ESA Target | June 1, 2025
Geotechnical Consultant | Brannigan Geotechnical Engineering, LLC — Neil Brannigan, PE
Appraiser | Greystone Appraisal Partners, LLC — Janet Choi, MAI
Land Use Consultant | Cornerstone Land Use Consulting, LLC — Alan Mercer
Local Zoning Counsel | Ashcroft & Wynn, P.C. — Thomas Ashcroft; 25 West Market Street, Leesburg, VA 20176
Equity Sponsor | Ridgeline Capital Partners Fund IV, LP (92% via RCP Digital Holdings LLC)
Equity Sponsor Contact | Julian Hargrove, Managing Partner, Ridgeline Capital Management LLC
Ridgeline Investment ID | RCP-IV-2025-DC-07
Total Project Budget | $600,000,000 (Stonebridge Data Center Campus — 96 MW across 4 buildings on 81.4 acres)
Total Land Budget (both parcels) | $77,900,000 ($58,500,000 Stonebridge + $19,400,000 Meridian)
Construction Lender | Summit National Bank, N.A. — $390,000,000 construction facility; Ref. CL-2025-VA-04418
Lender's Counsel | Redmond & Calloway LLP — Victor Redmond
Construction Loan Closing Target | October 15, 2025
Governing Law | Commonwealth of Virginia
[sheet: Proration Calculations]
Item | Annual Amount | Proration Period | Days — Seller | Days — Buyer | Per Diem Rate | Seller Owes | Buyer Owes | Debit/Credit Direction | Notes
Real Estate Taxes — Loudoun County (Calendar Year 2025) | 149,866.85 | Jan 1 – Dec 31, 2025 | 257 | 108 | 410.59 | 105,523.29 | 44,343.56 | Credit to Buyer / Debit to Seller | Seller responsible through Sept 14; Buyer from Sept 15; estimated based on Loudoun County assessed value of ~$12,850,000 at current tax rate of $1.165/$100; 257 days seller / 108 days buyer; taxes unpaid at closing; seller credits buyer for seller's share
Stormwater Management Fee — Loudoun County (Calendar Year 2025) | 485.00 | Jan 1 – Dec 31, 2025 | 257 | 108 | 1.33 | 341.81 | 143.56 | Credit to Buyer / Debit to Seller | Annual fee prorated; seller responsible through Sept 14; taxes unpaid at closing
Utility Charges (if any) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Vacant land — no active utility accounts expected; confirm with seller
HOA / Association Dues (if any) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | No HOA applicable to Meridian Parcel
TOTALS | 150,351.85 | 257 | 108 | 411.92 | 105,865.10 | 44,487.12 | Total prorations; 257 + 108 = 365 days ✓; seller credits buyer $105,865.10 at closing
[sheet: Transfer Tax & Recording Fees]
Fee / Tax Description | Basis | Rate | Amount | Paid By | Statutory / Contractual Reference | Notes
Virginia State Grantor's Tax | $19,400,000 (consideration) | $0.50 per $500 (i.e., $1.00 per $1,000) | 19,400.00 | Seller | Va. Code § 58.1-801 | Standard Virginia grantor's tax; seller obligation per statute
Virginia State Recordation Tax (Deed) | $19,400,000 (consideration) | $0.25 per $100 | 48,500.00 | Buyer | Va. Code § 58.1-802 | State recordation tax on deed; buyer obligation per PSA
Loudoun County Additional Grantor's Tax (Regional Congestion Relief Fee) | $19,400,000 (consideration) | $0.15 per $100 | 29,100.00 | Seller | Va. Code § 58.1-801.1; Loudoun County opt-in | Additional grantor's tax in qualifying Northern Virginia localities; seller obligation
Deed Recording Fee — Loudoun County Circuit Court Clerk | Per deed | Per county schedule (base fee + per page) | 100.00 | Buyer | Loudoun County fee schedule | Fixed fee per document; estimated at $100 for standard deed (approximately 5–8 pages)
Deed of Trust Recording Fee (if applicable at land closing) | N/A — no deed of trust at land closing | N/A | 0.00 | N/A | N/A | Construction loan closing scheduled for October 15, 2025; deed of trust recording fees will apply at that time
Processing / Handling Fee — Loudoun County Circuit Court | Per deed | Per county schedule | 35.00 | Buyer | Loudoun County fee schedule | Clerk's processing fee for deed recording
TOTAL ESTIMATED TRANSFER TAXES & RECORDING FEES | 97,135.00 | Sum of all line items; $48,600 seller responsibility ($19,400 + $29,100 + $100 allocation) / $48,635 buyer responsibility ($48,500 + $100 + $35); final amounts confirmed at closing
— Subtotal: Seller Responsibility | 48,500.00 | Seller | Grantor's Tax ($19,400) + Regional Congestion Relief ($29,100)
— Subtotal: Buyer Responsibility | 48,635.00 | Buyer | Recordation Tax ($48,500) + Recording Fee ($100) + Processing Fee ($35)

[sheet: Settlement Statement]

Record

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