ˌʌndɚ tˈɜːmz ʌvðə pˈɜːtʃɪs ɐɡɹˈiːmənt, ðə mˈɪʃən viːˈeɪoʊ kˈoʊ. bɪkˌeɪm ɐ hˈoʊli ˈoʊnd sʌbsˈɪdjɚɹi ʌv fˈɪlɪp mˈɔːɹɪs bˌʌt kəntˈɪnjuːd ɪts ɹˈoʊl æz mˈɪʃən viːˈeɪoʊz mˈæstɚ bˈɪldɚ.
Under terms of the purchase agreement, the Mission Viejo Co. became a wholly owned subsidiary of Philip Morris but continued its role as Mission Viejo's master builder.