INVENTORY LOAN AND SECURITY AGREEMENT $23,000,000 Loan provided by TEXTRON FINANCIAL CORPORATION to ILX ACQUISITION, INC. As of August 31, 2010

Exhibit 10.9

INVENTORY

LOAN AND SECURITY AGREEMENT

$23,000,000 Loan

provided by

TEXTRON FINANCIAL CORPORATION

to

ILX ACQUISITION, INC.

As of August 31, 2010

Execution Version

TABLE OF CONTENTS

SECTION 1. DEFINITION OF TERMS			2
SECTION 2. THE INVENTORY LOAN AND TERMS OF PAYMENT			20
SECTION 3. COLLATERAL			25
SECTION 4. CONDITIONS PRECEDENT TO CLOSING AND MAKING ADVANCES UNDER THE INVENTORY LOAN			30
SECTION 5. INTENTIONALLY OMITTED			34
SECTION 6. BORROWER’S REPRESENTATIONS AND WARRANTIES			34
SECTION 7. AFFIRMATIVE COVENANTS			45
SECTION 8. NEGATIVE COVENANTS			61
SECTION 9. SUBORDINATED OBLIGATIONS			64
SECTION 10. DEFAULT			64
SECTION 11. REMEDIES UPON DEFAULT			68
SECTION 12. CERTAIN RIGHTS OF LENDER			75
SECTION 13. MISCELLANEOUS			80

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LIST OF EXHIBITS

EXHIBIT A		List of Acquired Assets as of Closing Date
EXHIBIT B		List of Unsold Timeshare Interests
EXHIBIT C		List of Existing Club Resorts
EXHIBIT D		List of Existing Contracts
EXHIBIT E		Legal Description of Forest Service Land
EXHIBIT F		List of Existing Management Agreements
EXHIBIT G		Form of Bankruptcy Court Sale Order
EXHIBIT H		Existing Litigation Summary

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INVENTORY
LOAN AND SECURITY AGREEMENT

          THIS INVENTORY LOAN AND SECURITY AGREEMENT (“Agreement”) is dated as of the 31st day of August, 2010, and is entered into by and between ILX ACQUISITION, INC., a Delaware corporation (“Borrower”), located at 00000 Xxxx Xxxxxxxxxx Xxxxxxxxx, Xxx Xxxxx, Xxxxxx 00000 and TEXTRON FINANCIAL CORPORATION, a Delaware corporation (“Lender”), located at 00 Xxxxxxxxxxx Xxxxxxxxx, Xxxxxxxxxxx, Xxxxxxxxxxx 00000, under the following facts:

RECITALS:

          WHEREAS, Borrower and ILX Sellers entered into that certain Asset Purchase Agreement dated as of August 31, 2010, as it may be amended from time to time (the “Asset Purchase Agreement”), pursuant to which Borrower has acquired the assets of ILX Sellers as referenced in Section 2.1 of the Asset Purchase Agreement) which listing is set forth on Exhibit “A” attached hereto (the “Acquired Assets”) pursuant to Section 363 of the Bankruptcy Code (“Section 363 Sale”);

          WHEREAS, pursuant to the Joint Plan of Reorganization filed on or about June 17, 2010 of and confirmed by the Bankruptcy Court on July 23, 2010 (the “Plan”) and the entry by the Bankruptcy Court of the Sale Order, Lender has agreed to enter into this Agreement with Borrower;

          WHEREAS, ILX Resorts Incorporated, Los Abrigados Partners Limited Partnership, Premiere Development Incorporated, ILE Sedona Incorporated, VCA Tucson Incorporated, VCA South Bend Incorporated and VCA Nevada Incorporated (collectively, “Former Borrowers”) and Lender previously entered into that certain Amended and Restated Secured Construction and Mortgage Loan and Security Agreement as of June 30, 2004 as amended by that First Amendment dated as of August 20, 2004, as amended by that Second Amendment dated as of December 22, 2005, as amended by that Third Amendment dated as of March 23, 2007, as amended by that that Fourth Amendment dated as of September 28, 2007, and as amended by that Fifth Amendment dated as of February 28, 2008 (collectively, the “Original Inventory Loan Agreement”);

          WHEREAS, this Agreement will replace and supersede in its entirety the Original Inventory Loan Agreement;

          WHEREAS, the parties hereto desire to be legally bound by the terms and conditions of this Agreement along with all exhibits attached hereto and related contractual agreements referenced herein, the terms and conditions of which are incorporated herein by this reference;

          WHEREAS, Timeshare Interests and related Common Elements, Encumbered Personal Property, Financed Improvements and Mortgaged Real Property along with other Inventory Collateral encumbered by the Lien of the applicable Mortgage serve to secure Borrower’s repayment of the Inventory Loan to Lender.

          NOW, THEREFORE, for and in consideration of the foregoing Recitals, and the covenants and agreements hereinafter set forth and for other good and valuable consideration, the legal adequacy and sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

          SECTION 1. DEFINITION OF TERMS.

          The capitalized terms used in this Agreement are defined in this Section 1. The definitions include the singular and plural forms of the terms defined.

          “Accounts” means all “accounts” (as defined in the UCC) acquired by Borrower from any of the ILX Sellers and all of the following now or hereafter owned by Borrower: (a) accounts receivable, contract rights, book debts, notes, drafts and other obligations or indebtedness formerly owing to any of the ILX Sellers and assigned and transferred to Borrower arising from the sale, lease or exchange of goods or other property and/or the performance of services and arising from the Club Membership Plan and the Management Agreements; (b) any of Borrower’s acquired rights in, to and under all purchase orders for goods, services or other property; (c) any of Borrower acquired rights to any goods, services or other property represented by any of the foregoing (including returned or repossessed goods and unpaid sellers’ rights of rescission, replevin, reclamation and rights to stoppage in transit); (d) monies due to or to become due to any ILX Sellers or to Borrower under all contracts for the sale, lease or exchange of goods or other property and/or the performance of services including the right to payment of any interest or finance charges with respect thereto (whether or not yet earned by performance on the part of any of the ILX Sellers or Borrower); (e) any of Borrower’s acquired rights to payment from any consumer credit/charge card issuer or any entity which sponsors or administers such cards as the American Express Card, Visa Card, MasterCard, Diners Club Card or Discover Card; (f) all collateral security and guaranties of any kind given by any Person with respect to any of the foregoing; and (d) all Rents.

          “Acquired Assets” has the meaning set forth in the Recitals, a list of which is set forth on Exhibit “A” attached hereto, all of which shall be subject to Lender’s Liens as of the Closing Date.

          “Advance” means any advance under the Inventory Loan by Lender to or on behalf of Borrower in accordance with the terms of this Agreement.

          “Affiliate” means any Person (for purposes of the definition of Affiliate, the definition of Person shall exclude natural persons) controlled by, directly or indirectly,

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through one or more intermediaries, controlling or under common control with Borrower. The term “control” means possession, directly or indirectly of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities or interests, by contract or otherwise.

          “Affiliation Agreement” means that certain “Affiliation Agreement” executed and dated within one hundred and eighty (180) days of the Closing Date (or such later date as shall be approved by Lender) by and between the Club and the Diamond Vacation Club acceptable to Lender.

          “Agreement” means this Inventory Loan and Security Agreement executed as of the date hereof by and between Borrower and Lender (including the exhibits and schedules hereto), as it may be amended, modified or restated from time to time.

          “Annual Inventory Loan Fee” means the loan fee payable by Borrower to Lender under the Inventory Loan equal to five percent (5%) of the average outstanding principal balance of the Inventory Loan for the previous twelve (12) month period commencing on the Closing Date and ending on the first anniversary date of the Closing Date and for each twelve (12) month period thereafter during the term of the Inventory Loan, payable as set forth in Section 2.10 below.

          “Association” means one or more of applicable non-profit homeowners associations or entities which operate and maintain one or more of the Resorts and/or the Club and which in certain instances may be denominated the “Club” in the applicable Resort Plan or Club Membership Plan.

          “Assessments” means, collectively, applicable Maintenance Fees, Capital Assessments and Personal Charges which a Club Member and a Resort Purchaser are required to pay, which will include any assessments made pursuant to the Club Membership Plan and any applicable Resort Plan.

          “Asset Purchase Agreement” or “APA” has the same meaning as such term is defined in the Recitals.

          “Assignment of Rents” means individually and collectively, one or more assignments of leases and Rents (which may be included as part of a Mortgage) executed by Borrower in favor of Lender and secured in the public records of the county in which any of the Resorts are located and Maricopa County for the Club, as such instruments may be amended from time to time.

          “Background Documents” has the meaning set forth in Section 4.21 hereof.

          “Back-Up Servicer” means Concord Servicing Corporation, or its successors or assigns.

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          “Back-Up Servicing Agreement” means that certain Back-Up Servicing Agreement dated as of the date hereof by and among Borrower, Lender, Servicer and Back-Up Servicer, as it may be amended, modified or restated from time to time.

          “Bankruptcy Case” means the case filed by the ILX Sellers on March 9, 2009 under the Bankruptcy Code; the case is being administered under Case Number 2:09-bk-03594-RTS in the Bankruptcy Court.

          “Bankruptcy Code” means Title II of the United States Code, 11 U.S.C. §§ 101 et. seq.

          “Bankruptcy Court” means the United States, Bankruptcy Court for the District of Arizona or any other court having jurisdiction over the Bankruptcy Case from time to time.

          “Xxxx Rock Inn” means the Xxxx Rock Inn located in Village Oak Creek, Arizona.

          “Business Day” means any day which is not a Saturday, Sunday or a legal holiday under the laws of the States of Arizona, Nevada, Connecticut or Rhode Island, or the United States.

          “Carriage House” means the Carriage House Resort located in Las Vegas, Nevada.

          “Change of Control” means if (i) DRC or an Affiliate thereof ceases to own 100% of Borrower; or (ii) there is a vacancy in the position of Chief Executive Officer or Chief Financial Officer of DRC and such party is not replaced within sixty (60) days after leaving such position with a successor who has comparable experience and expertise that is reasonably acceptable to Lender.

          “Closing Date” means the date of this Agreement.

          “Club” means the Premiere Vacation Club, an Arizona non-profit corporation, which as of the Closing Date owns and shall continue to own legal title to all of the annexed Club Inventory located within each of the Club Resorts, subject as of the Closing Date, to Lender’s Lien on Club Inventory and pursuant to the terms of the Club Membership Plan and any applicable Resort Plan.

          “Club Deed” means a recorded special warranty or similar deed, executed either by Club or by Premiere, that transfers and conveys to a Club Member a Club Membership Interest, which deed, the Club Membership related thereto and the Los Abrigados Resort undivided fractional interest as tenants in common with other Club Members therein, as set forth in each Club Member’s special warranty deed, shall be subject to the terms and conditions of the Club Membership Plan, as well as all other matters of public record.

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          “Club Inventory” means all Club Membership Interests conveyed to and annexed as part of the Club as of the Closing Date or subsequent thereto as set forth in each present, existing or hereafter arising Declaration of Annexation for the Club; pursuant to the Section 363 Sale and Sale Order, the Club as of the date hereof continues to own legal title to all such inventory free and clear of any liens other than the Liens of Lender; a listing of all Club inventory annexed into the Club as of the date hereof is attached to the then current Club Membership Plan.

          “Club Loan” means one or more loans by the applicable ILX Sellers to a Club Member evidenced by a Club Membership Agreement and secured by a Club Deed of Trust, which results from the sale of a Club Membership Interest to a Club Member, which loans (i) are conveyed and assigned of record from the applicable ILX Sellers to Borrower pursuant to the Sale Order, (ii) shall be subject to the Lien in favor of Lender, and (iii) constitute a portion of the Receivables Collateral.

          “Club Manager” means Diamond Resorts Management, Inc., an Arizona corporation, its successors and assigns, subject to Lender’s prior written consent.

          “Club Member” means Borrower and the owner of a Club Membership (the “Buyer” as such term is used and defined in the applicable Club Membership Agreement).

          “Club Membership” means the collection of occupancy and other rights and obligations of a Club Member set forth and described in the Club Membership Documents; the Club Membership is conveyed, transferred and evidenced by the Club Deed and is not separable thereafter from the Club Deed or the other interests described in and transferred by the Club Deed.

          “Club Membership Documents” means the Club Membership Plan, the Articles of Incorporation and the Bylaws of the Club, the Rules and Regulations, the Club Consumer Documents, applicable state public offering statements and public report receipts registering the Club in various jurisdictions, owner’s understanding and acknowledgment, HUD-1 Uniform settlement statements and good faith estimates and any other documents related to the Club or the Reservation System (exclusive of the Resort Documents) and which are executed or delivered concurrently or in connection with the Club Membership Agreement, and, where applicable, any Resort Plan, all of which governs a Club Member’s use and the operation of the Club.

          “Club Membership Interest” means the ownership interest of any Club Member in the Club consisting of such Club Member’s Club Membership Share and a Club Deed to a corresponding undivided fractional interest in the Los Abrigados Resort, as tenants in common with other Club Members and Resort Purchasers therein.

          “Club Membership Plan” means the Premiere Vacation Club Membership Plan (Restated) restated and recorded in the Maricopa County, Arizona public records on February 14, 2008, as Instrument No. 2008-0133225, as it may be amended,

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supplemented or restated from time to time and all exhibits and schedules, including, without limitation, all Declarations of Annexation attached thereto, as amended, supplemented or restated from time to time, which provides for the management, operation, maintenance, use and enjoyment of the Club, which establishes the benefits and burdens of the Club with respect to its Club Members, which imposes obligations on Club Members, which grants Borrower certain rights as Declarant including the right to revoke a Club Member’s Club Membership and thereafter resell the Timeshare Interest to another Person and to annex and/or de-annex Club Inventory with the prior written consent of Lender.

          “Club Membership Share” means each Club Member’s owned share in the Club based upon the occupancy period and annual frequency of such Club Member’s Club Membership Interest together with all rights, benefits, privileges and interests appurtenant thereto, as more specifically described in the Club Membership Agreement and Club Deed and in accordance with the Club Membership Plan.

          “Club Resort” means any Resort or Resorts previously approved by Lender, for which the applicable ILX Sellers have conveyed Club Inventory to the Club as more particularly described in one or more separate Declarations of Annexation; a listing of all Club Resorts as of the date hereof is attached hereto as Exhibit “C”, as such may be amended or supplemented from time to time, with the prior written consent of the Lender.

          “Collateral” means the Inventory Collateral.

          “Collateral Assignment of Management Agreements” means that certain “Collateral Assignment of Management Agreements and Contracts” dated as of the date hereof executed by Borrower in favor of Lender pursuant to which Borrower collaterally assigns to Lender all of the Borrower’s right, title and interest in and to all Management Agreements and Contracts, as it may be amended, modified or restated from time to time.

          “Collateral Assignment of Declarant Rights” means that certain recorded “Collateral Assignment of Declarant Rights” dated as of the date hereof executed by Borrower in favor of Lender that assigns all of the Declarant Rights as defined therein to Lender, as it may be amended, modified or restated from time to time.

          “Collateral Assignment of Intellectual Property Rights” means that certain “Collateral Assignment of Intellectual Property Rights” dated as of the date hereof executed by Borrower in favor of Lender that assigns all of Borrower’s Intellectual Property rights to Lender, as it may be amended, modified or restated from time to time.

          “Collateral Assignments” means, collectively, the Collateral Assignment of Declarant Rights, the Collateral Assignment of Intellectual Property Rights, the Collateral Assignment of Management Agreements and the Master Collateral Assignment.

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          “Common Elements” means the common areas, common elements and facilities for each of the Resorts, as defined or provided for in the applicable Resort Plan or other applicable Resort Documents, including, without limitation, the Land and all improvements thereto except for the Units that have been dedicated to the condominium or comparable form of ownership, as well as any limited common elements, as those terms are defined and used in the applicable Resort Plan or Club Membership Plan.

          “Common Furnishings” means all furniture, furnishings, fixtures, appliances, carpeting, and equipment located in a Unit or elsewhere within one of the Resorts.

          “Contracts” means (a) all present and future contracts, agreements, assignable permits and licenses (including occupancy permits, business licenses, and liquor licenses) warranties, and representations which Borrower has acquired from the ILX Sellers or otherwise relating to or governing the use, occupancy, operation, management, repair, or service of the Resorts or the Club or related to Borrower’s business; (b) all present and future agreements with credit card issuers, sponsors or administrators; (c) to the extent Borrower has acquired rights thereto from any of the ILX Sellers or otherwise, all present and future leases, occupancy agreements, registration and concession agreements, and commitments to provide rooms or facilities in the future to the extent that they are not solely interests in real estate; and (d) all present and future Management Agreements and any contracts and agreements described in the Club Membership Plan which have been acquired by Borrower from the ILX Sellers or otherwise. “Contracts” includes all amendments, modifications, and supplements to any of the foregoing and includes all existing and future contracts assigned to or entered into by Borrower. A listing of existing Contracts is attached hereto as Exhibit “D.”

          “Custodial Agreement “ means that certain Custodial Agreement dated as of the date hereof by and among Lender, Borrower and Custodian, as it may be amended, modified or restated from time to time.

          “Custodian” means Concord Servicing Corporation, or its successors or assigns.

          “Debtor Relief Laws” means any applicable liquidation, conservatorship, bankruptcy, moratorium, rearrangement, insolvency, reorganization or similar law, proceeding or device providing for the relief of debtors from time to time in effect and generally affecting the rights of creditors.

          “Declaration of Annexation” means each Declaration of Annexation of Weeks to Premiere Vacation Club previously executed by the Club, Premiere and Xxxxx X. Xxxxx, as Attorney-in-Fact for the Club Members and attached to each applicable Club Membership Plan and recorded in the public records of Maricopa County, Arizona, which includes a listing of Unit Weeks annexed to the Membership Plan pursuant to each Declaration of Annexation and a current and complete listing of all Unit Weeks so annexed to the Club Membership Plan as Club Inventory, as well as any Unit Week,

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which has been de-annexed from the Club Membership Plan, as amended, supplemented or restated from time to time; a listing of all existing Club Inventory is attached to the then current Club Membership Plan; and all future declarations of annexation to the Club.

          “Default”. An event or condition, the occurrence of which immediately is or, with the lapse of time or the giving or notice or both, becomes an Event of Default.

          “Default Rate” means the Interest Rate plus four percent (4%) per annum, provided, however the Default Rate shall in no event exceed the highest interest rate permitted to be charged by applicable usury laws.

          “Diamond Vacation Club” means THE Club^®.

          “DRC” means Diamond Resorts Corporation, a Maryland corporation, and its successors or assigns.

          “DRC Affiliates” means the Servicer, Manager, Marketing and Sales Agent and any other entities affiliated with DRC which enter into agreements or contracts with the Borrower in connection with any of the Resorts or the Club or this Agreement and the Inventory Loan Documents.

          “Encumbered Personal Property” means all furniture, furnishings, fixtures, appliances, equipment, inventory, supplies, accounts, chattel paper, and general intangibles at any time located at, arising out of the use of, and/or used or useful in connection with the management or operation of any Mortgaged Real Property or any Financed Timeshare Interest, whether now owned or hereafter acquired by Borrower, together with all improvements and accessions thereto and replacements thereof and the cash and non-cash proceeds thereof, a Lien against which constitutes a portion of the Inventory Collateral for the Inventory Loan.

          “Environmental Laws” means Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended from time to time (“CERCLA”), the Resource Conservation and Recovery Act of 1976, as amended from time to time (“RCRA”), the Superfund Amendments and Reauthorization Act of 1986, as amended, the federal Clean Air Act, the federal Clean Water Act, the federal Safe Drinking Water Act, the federal Toxic Substances Control Act, the federal Hazardous Materials Transportation Act, the federal Emergency Planning and Community Right to Know Act of 1986, the federal Endangered Species Act, the federal Occupational Safety and Health Act of 1970, the federal Water Pollution Control Act, and any and all comparable statutes or ordinances enacted in Arizona, Colorado, Nevada, Indiana or Mexico, as all of the foregoing laws may be amended from time to time, and any rules or regulations promulgated pursuant to the foregoing; together with any similar local, state or federal statutes, ordinances, rules or regulations, either in existence as of the date hereof or enacted or promulgated after the date of this Agreement, that concern the management, control, storage, discharge, treatment, containment, removal and/or transport of

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Hazardous Materials or other substances that are or may become a threat to public health or the environment; together with any common law theory involving Hazardous Materials or substances which are (or alleged to be) hazardous to human health or the environment, based on nuisance, trespass, negligence, strict liability or other tortious conduct, or any other federal, state or local statute, regulation, rule, policy, or determination pertaining to health, hygiene, the environment or environmental conditions.

          “EPA” means the Environmental Protection Agency.

          “Escrow Agreement” means that certain “Escrow Agreement” dated as of the date hereof by and among ILX Resorts, Incorporated, ILX-Bruno, L.L.C., Borrower, Lender and First American Title Insurance Company, as escrow agent, if an escrow arrangement is used in connection with the deed to the Forest Service Land.

          “Event of Default” has the meaning set forth in Section 10 hereof.

          “Exchange Company” means II or RCI.

          “FF&E” means furnishings, fixtures and equipment.

          “Financed Improvements” means all Units, Common Elements, and other buildings, structures, recreational facilities, and appurtenances thereto now located on, or to be constructed on any Mortgaged Real Property.

          “Financed Timeshare Interest” means, collectively, any Timeshare Interest or any Property encumbered by Lender’s Liens.

          “Financial Statements” means the balance sheets and statements of income and expense of Parent and the related notes and schedules delivered prior to the Closing Date; and the monthly and annual financial statements and reports required to be provided to Lender pursuant to this Agreement.

          “Former Borrowers” has the meaning set forth in the Recitals.

          “Forest Service Land” means the real property consisting of approximately 14 acres of land located in Sedora, Arizona commonly referred to as the U.S. Forest Service land parcel and more particularly described in Exhibit “E” attached hereto.

          “GAAP” means generally accepted accounting principles applied on a consistent basis, as described in Opinions of the Accounting Principles Board of the American Institute of Certified Public Accountants and/or in statements of the Financial Accounting Standards Board which are applicable in the circumstances as of the date in question.

          “Golden Eagle Resort” means the Golden Eagle Resort located in Xxxxx Park, Colorado.

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          “Government Authority” means any nation or government, any state or other political subdivision thereof, any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government and any court or arbitrator or tribunal having jurisdiction over Borrower, the DRC Affiliates, the Resorts, the Inventory Collateral or the Club.

          “Hazardous Materials” means those substances as defined as “hazardous substances,” “hazardous materials,” “toxic substances,” or “solid waste” as defined in the Environmental Laws, and any other contaminant or any material, waste or substance which is petroleum or petroleum based, asbestos, polychlorinated biphenyls, flammable explosives or radioactive materials.

          “II” has the meaning set forth in Section 7.36 hereof.

          “ILX Sellers” means ILX Resorts Incorporated, ILE Sedona Incorporated, ILX Tourist Station Incorporated, ILX-Bruno LLC, Los Abrigados Partners Limited Partnership, Genesis Investment Group, Inc., Puerto Peñasco Vacation Destinations, S. de X.X. de C.V., Premiere Development Incorporated, Sea of Xxxxxx Premiere Vacation Club S. de X.X. de C.V., Rocky Point Genesis Incorporated, VCA Tucson Incorporated, VCA South Bend Incorporated, VCASB Partners General Partnership, First Piggy LLC, Harbor Southwest Development, Inc., and ILX Xxxx Rock Incorporated.

          “Intellectual Property” has the meaning set forth in the APA.

          “Interest Rate” means the rate of interest on the principal amount outstanding at any time under the Inventory Loan which is equal to a fixed interest rate of seven and one-half percent (7.5%) per annum.

          “Inventory Collateral” has the meaning set forth in Section 3.1 hereof.

          “Inventory Loan” means non-revolving credit facility in the maximum principal amount of $23,000,000 as described in this Agreement and evidenced and secured by the Inventory Loan Documents.

          “Inventory Loan Documents”. Collectively, the following documents and instruments, as each may be amended, supplemented or restated from time to time:

               (a) This Agreement;

               (b) The Inventory Loan Promissory Note;

               (c) The Mortgage;

               (d) The Assignment of Rents;

               (e) The Collateral Assignments;

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               (f) The Non-Exclusive License of Intellectual Property Rights by and between Borrower and Lender dated as of the date hereof, as amended from time to time;

               (g) UCC-1 financing statements covering the Collateral, to be recorded in the appropriate public records of each applicable jurisdiction and filed in the office of the Secretary of State of each applicable jurisdiction in which any of the Inventory Collateral is located; and

               (h) All such other assignments, agreements, documents, instruments, certificates, and materials as Lender may require in order to evidence or secure the Obligations, to evidence and perfect the rights, Liens, and security interests of Lender contemplated by the Inventory Loan Documents, and otherwise to effectuate the transactions contemplated hereby.

          “Inventory Loan Maturity Date” means August 31, 2015.

          “Inventory Loan Promissory Note” means that certain Inventory Promissory Note that evidences the Inventory Loan, of even date herewith, executed and delivered by Borrower in favor of Lender in the original principal amount not to exceed $23,000,000 which evidences Borrower’s agreement to repay Advances under the Inventory Loan and certain other Obligations associated with the Inventory Loan as it may be amended, supplemented or restated from time to time; the Inventory Loan Promissory Note replaces and supercedes in their entirety that certain Amended and Restated Mortgage Loan Promissory Note executed by Borrower in favor of Lender dated as of June 30, 2004, as amended from the time to time.

          “Xxxx’x Ranch Lodge” means the Xxxx’x Ranch Lodge located in Payson, Arizona.

          “Legal Requirements” means all federal, state and local ordinances, laws, regulations, orders, judgments, decrees, determinations and other legal restrictions governing the Club, the Resorts, the Borrower, the DRC Affiliates or their respective business or operations.

          “Licenses” means all material licenses, permits, consents, authorizations, approvals, franchises, waivers, exemptions and orders as are necessary or appropriate in order for Borrower legally to carry on its business as it will be conducted in connection with the Resorts, Club or Acquired Assets.

          “Lien” means any existing as of the Closing Date or hereafter arising interest in Property (including without limitation a security interest, mortgage or deed of trust) securing an obligation owed to, or valid claim by Lender, whether such interest arises in equity or is based on common law, statute or contract.

          “Loan Costs” means without duplication (a) all costs or expenses (including taxes, photocopying, notarization, telecommunication and insurance premiums)

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required to be paid by Borrower under this Agreement or the Inventory Loan Documents that are paid or advanced by Lender; (b) documentation, filing, recording, publication, appraisal, lock box, fees paid by Lockbox Agent, custodial fees to custodian, loan servicing fees paid to Servicer and Back-Up Servicer; (c) costs and expenses incurred by Lender in the disbursement of funds or incurred by Lender resulting from the dishonor of checks; (d) costs and expenses paid or incurred by Lender to correct any default or enforce any provision of this Agreement or the Inventory Loan Documents, or in gaining possession of, maintaining, handling, preserving, storing, shipping, selling, preparing for sale, or advertising the Inventory Collateral for sale, regardless of whether a sale is consummated; (e) costs incurred by Lender in connection with work-out, restructuring or related discussions or litigation incurred in connection with the enforcement of Lender’s rights hereunder and the protection and liquidation of the Inventory Collateral; (f) costs and expenses paid or expenses of third party claims or any other suit paid or incurred by Lender in enforcing or defending this Agreement or the Inventory Loan Documents; and (g) Lender’s reasonable attorney’s fees and expenses incurred in advising, structuring, drafting, reviewing, administering, amending, restating, terminating, enforcing (including attorney’s fees and expenses incurred in connection with a “workout,” a restructuring, or in connection with the voluntary or involuntary insolvency proceedings concerning Borrower), defending, or concerning the Agreement or the Inventory Loan Documents, regardless of whether a lawsuit is commenced; provided, however, in all instances, Loan Costs shall be limited to reasonable and documented expenses which are necessitated by Lender’s transactions with Borrower or as may otherwise be required in order to protect Lender’s rights in and to the Inventory Collateral; this term is inclusive of all expenses and closing fees set forth in Section 7.24 below.

          “Loan Documents” has the meaning set forth in the Receivables Loan Agreement.

          “Lockbox Agent” means collectively, XX Xxxxxx Xxxxx Bank, N.A. as account agent, and Regulus Group II, LLC, as lockbox agent, or such other Person as may be approved by Lender in writing from time to time; Lockbox Agent shall act as Lender’s exclusive agent for the collection of all payments made on the Pledged Timeshare Loans.

          “Lockbox Agreement” means, individually and collectively, that certain Lockbox Agreement executed as of the date hereof by and among Borrower, Lender, Servicer and Lockbox Agent pursuant to which Lockbox Agent agrees to provide for the receipt and deposit of payments on the Pledged Timeshare Loans and disbursement of such payments to Lender, as well as certain financial reporting services, and any future lockbox agreement as may be approved by Lender.

          “Los Abrigados Resort” means the Los Abrigados Resort & Spa located in Sedona, Arizona.

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          “Management Agreement” means individually and collectively, each existing or future management agreement and/or sub-management agreement entered into by and between an applicable ILX Seller and Club or the applicable Association which have been conveyed, assigned to and/or assumed by Borrower and/or Manager from each of the ILX Sellers, or any management agreement or sub-management agreement hereafter entered into by Borrower and/or Manager with the applicable Association or the Club, pursuant to which the Borrower and/or Manager is to provide management and other services with respect to the Club and Resorts as contemplated by the Club Membership Plan or other Resort Documents; a list of existing management agreements acquired, assigned or assumed by Borrower and/or Manager (or any related sub-management agreements) all of which are collaterally assigned to Lender is set forth on Exhibit “G” attached hereto.

          “Manager” means individually and collectively, the Club Manager and the Resort Manager.

          “Marketing and Sales Agent” means Diamond Resorts International Marketing, Inc., a California corporation and its successors and assigns, as approved by Lender which will enter into a marketing and sales agreement with Borrower subsequent to the Closing Date which agreement shall be approved by Lender at such time.

          “Master Collateral Assignment” means collectively, one or more “Master Collateral Assignment of Timeshare Loans and Deeds of Trust”, in recordable form executed by Borrower in favor of Lender pursuant to which Borrower collaterally pledges and assigns of record to Lender all of Borrower’s right, title and interest in and to the Club Membership Agreements, Resort Purchase Agreements, Assigned Club Deeds of Trust and Assigned Resort Deeds of Trust conveyed and assigned of record to Borrower by ILX Sellers pursuant to the Asset Purchase Agreement, and the Master Absolute Assignment from the ILX Sellers in favor of Borrower dated as of the date hereof, which master collateral assignment shall be recorded in the applicable public records of the Coconino County, Arizona, the location of the Los Abrigados Resort and any other agreed upon locations.

          “Material Adverse Effect” means a material adverse effect on any of the following: (a) the property, business, operations or financial condition of Borrower or the DRC Affiliates, (b) the ability of Borrower or DRC Affiliates to perform each of their respective obligations under any of the Loan Documents or agreements in connection with this transaction to which they are parties, (c) the legality, validity or enforceability of any of the Loan Documents, (d) the rights and remedies of the Lender under any of the Loan Documents, (e) the timely payment of the principal or interest on the Receivables Loan, or (f) the validity, perfection or priority of a Lien in favor of the Lender on any material part of the Receivables Collateral.

          “Material Party” has the meaning set forth in Section 4.10 hereof.

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          “Maximum Inventory Loan Amount” means the sum of Twenty Three Million Dollars ($23,000,000).

          “Maximum Rate” has the meaning set forth in Section 2.11 hereof.

          “Merchant Account” means the deposit account established by the Merchant Bank into which all credit card payments are deposited.

          “Merchant Bank” means JPMorgan Chase Bank N.A. and any successors or assigns.

          “Mortgage” means individually and collectively, one or more mortgages, deeds of trust or other security instruments or Liens executed and delivered by (i) the Club in favor of Lender encumbering all Club Inventory deeded to the Club as of the Closing Date and annexed to the Club subsequent to the Closing Date as and where recorded, and (ii) Borrower in favor of Lender to be recorded in the public records of the county in which any of the Mortgaged Property is located and Maricopa County, Arizona for the Club as of the Closing Date, as such instruments have been or may be amended from time to time, which encumbers among other Inventory Collateral, the Club Inventory, the Financed Timeshare Interests and Mortgaged Property and which among other Inventory Loan Documents and Loan Documents secures the Inventory Loan and the Receivables Loan.

          “Mortgaged Property” means all present and future Mortgaged Real Property, Encumbered Personal Property, other Property or Acquired Assets which as of the date hereof or subsequent to the Closing Date, are mortgaged or collaterally assigned to Lender by Borrower pursuant to this Agreement, the Loan Documents and the Mortgage Loan Documents.

          “Mortgaged Real Property” means all present and future Borrower’s right, title, and interest in and to any Land, Units, Common Elements, Financed Timeshare Interests, Club Inventory, Financed Improvements and other real property of any and every type, together with all easements and other appurtenances thereto, that is encumbered by the Lien of a Mortgage.

          “Nevada Resorts Loan” means the hypothecation loan made by Lender to an Affiliate of DRC as evidenced by the Amended, Restated and Consolidated Loan and Security Agreement between Lender and an Affiliate of DRC, dated as of October 1, 2005, as it has been and may be amended from time to time.

          “Obligations” means all amounts due or becoming due to Lender in respect of the Inventory Loan and all amounts due or becoming due to Lender under any of the Inventory Loan Documents, now existing or hereafter created or arising, joint or several, direct or indirect, arising out of contract or tort or under law, and whether created directly or acquired or accruing by assignment, assumption or otherwise, and including principal, interest, prepayment premiums, contributions, taxes, insurance, loan charges,

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advance fees, commitment fees, administrative fees, servicing fees, arrangement fees, renewal fees, release fees, lockbox fees, custodial fees, protective advance fees, court costs, attorneys’ and paralegals’ fees and expenses incurred by Lender and other fees or expenses incurred by Lender or advanced by Lender to or on behalf of Borrower or pursuant to any of the Inventory Loan Documents, and amounts payable to or for the benefit of Lender under any subrogation rights, indemnities or guaranties in connection with the Inventory Loan.

          “One to One Ratio” has the meaning set forth in Section 6.33 hereof.

          “Original Inventory Loan Agreement” has the meaning set forth in the Recitals.

          “Parent” means Diamond Resorts Parent, LLC, a Delaware limited liability company, the parent company of DRC.

          “Pension Reform Act” has the meaning set forth in Section 6.24 hereof.

          “Person” means and includes natural persons, limited liability companies, corporations, limited partnership, general partnership, joint ventures, trusts, land trusts, business trusts, or other organizations, irrespective of whether they are legal entities, and governments and agencies and political subdivisions thereof.

          “Permitted Liens” means all exceptions listed in Schedule “B” to any Title Policy which have been accepted by both Lender and Borrower.

          “Plan” has the same meaning as such term is defined in the Recitals.

          “Pledged Timeshare Loan” means one or more Timeshare Loans which (i) are conveyed and assigned of record by the applicable ILX Sellers to Borrower pursuant to the Sale Order, (ii) shall be subject to the Lien in favor of Lender, and (iii) constitute a portion of the Receivables Collateral and security in part for Borrower’s Obligations under the Loan Documents and Inventory Loan Documents, a schedule of which is set forth as Exhibit “A” to the Master Collateral Assignment.

          “Premiere” means Premiere Development Incorporated, an Arizona corporation, the seller of Club Memberships and the declarant under the Club Membership Plan, which has assigned all of its rights to Borrower as successor declarant and seller of Club Memberships pursuant to the terms of the Asset Purchase Agreement.

          “Profit-Sharing Plan” has the meaning set forth in Section 6.24 hereof.

          “Property” means any interest in any kind of property or asset, whether real, personal, or mixed, tangible or intangible.

          “Purchase Agreement” means, individually or collectively, one or more Club Membership Agreements and one or more Resort Purchase Agreements.

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          “Purchaser” means, collectively, a Club Member and a Resort Purchaser.

          “Real Property” means, collectively, the land described in the Title Policy and Mortgages (“Land”) together with (a) all improvements located thereon, but expressly excluding improvements and structures owned by any tenant or other third party, (ii) all right, title and interest of Borrower in and to the rights, privileges, easements, tenements, hereditaments, and appurtenance thereon or in any way appertaining thereto, and (c) all right, title and interest of Borrower in and to all strips and gores and any land lying in the bed of any street, road or alley, open or proposed, adjoining the Land.

          “Receivables Collateral” has the meaning set forth in the Receivables Loan Agreement.

          “Receivables Loan” means the loan provided for in the Receivables Loan Agreement and the Loan Documents up to the Maximum Receivables Loan Amount.

          “Receivables Loan Maturity Date” means August 31, 2015.

          “Receivables Loan Promissory Note” means that certain Receivables Promissory Note of even date herewith executed and delivered by Borrower in favor of Lender in the original principal amount not to exceed the Maximum Receivables Loan Amount which evidences Borrower’s agreement to repay the Receivables Loan and certain other Obligations associated with the Receivables Loan as it may be amended, supplemented or restated from time to time.

          “Release Payment(s)” has the meaning set forth in Section 2.5(a) hereof.

          “Rents” means income, rents, issues, profits, revenues, deposits, fees, accounts and other benefits from the operation of the former business of the ILX Sellers by Borrower and from the operation of Borrower’s business on or after the Closing Date, including, without limitation, all license fees, golf club and membership initiation fees, green fees, driving range fees, golf cart fees, membership fees and dues, revenues and credit card receipts collected from restaurants, bars, concessions, meeting rooms, hotels, Resorts, the Club, snack bar, clubhouse, banquet rooms and recreational and health club facilities and otherwise, all receivables, customer obligations, installment payment obligations and other obligations arising on or after the Closing Date or created out of sale, lease, sublease, license, concession or other grant of the right of the possession, use or occupancy of all or any portion of the former business of the ILX Sellers by Borrower or from the operation of Borrower’s business or personalty located thereon, or rendering of services by Borrower or from the rental of any office space, retail space, commercial space, or other space, halls, stores, facilities or offices, including any deposits securing reservations of such space, exhibits or sales space of every kind, license, lease, sublease and concession fees and rentals, food and beverage wholesale and retail sales, service charges, vending machine sales and proceeds, if any, from business interruption or other loss of income insurance relating to

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the use, enjoyment or occupancy of the Resort, Club, the former business of the ILX Sellers or Borrower’s business by Borrower accruing on or after the Closing Date.

          “Reportable Event” has the meaning set forth in Section 6.24 hereof.

          “Reservation System” means, individually and collectively, the method, arrangement or procedure including any computer network and software (including Gipsy Software System) employed for the purpose of enabling or facilitating the operation of the system which (i) enables each Club Member to utilize such Club Member’s right to reserve an occupancy period at a Club Resort in accordance with the provisions and conditions set forth in the Club Membership Documents and (ii) enables each Resort Purchaser to utilize such Resort Purchaser’s right to reserve an occupancy period at the applicable Resort in accordance with the applicable Resort Documents.

          “Resort(s)” means individually and collectively, the Los Abrigados Resort & Spa, The Inn at Los Abrigados, Xxxx’x Ranch Lodge, Golden Eagle Resort, Roundhouse Resort (inclusive of Premiere Vacation Club), Varsity Clubs of America—South Bend Chapter, Varsity Clubs of America—Tucson Chapter, Carriage House, Xxxx Rock Inn (inclusive of Premiere Vacation Club), Celebrity House, Scottsdale Camelback Resort, Rancho Manãna Resort and the Sea of Xxxxxx Premiere Vacation Club; the Resort or Resorts refers to, among other things, the undivided annual or biennial Timeshare Interests in each of the Resorts, and the appurtenant exclusive rights to use assigned Units in one or more buildings or phases, and all appurtenant or related common elements, properties, amenities, facilities, equipment, appliances, fixtures, easements, licenses, rights and interests, as established by and more fully defined and described in the respective Resort Plans.

          “Resort Interest” means the “stand alone” timeshare fee simple ownership interest of any Resort Purchaser and/or Borrower (to the extent conveyed by the applicable ILX Seller to Borrower as part of the Acquired Assets as of the Closing Date) in the applicable Resort consisting of a membership share, or a Unit Week in such Resort and a Resort Deed to a corresponding undivided fractional interest in the applicable Resort, as tenants in common with other owners of Resort Interests at such Resort which is subject to the Resort Documents and which is not subject to the Club Membership Plan; legal title to all resort interests is conveyed by the applicable ILX Sellers to Borrower as part of the Acquired Assets on the Closing Date.

          “Resort Loan” means one or more loans made by the applicable ILX Seller to a Resort Purchaser evidenced by a Resort Purchase Agreement and secured by a Resort Deed of Trust which results from the sale of a Resort Interest to a Resort Purchaser, which loans (i) are conveyed and assigned of record by the applicable ILX Sellers to Borrower pursuant to the Sale Order, (ii) shall be subject to the Lien in favor of Lender, and (iii) constitute as a portion of the Receivables Collateral.

          “Resort Manager” means Diamond Resorts Management, Inc., an Arizona corporation, its successors and assigns, subject to Lender’s prior written consent.

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          “Resort Plan” means the current “Membership Plan” or the applicable declaration of covenants, conditions and restrictions establishing the timeshare regime at each Resort recorded in the public records of the applicable jurisdiction in which any Resort is located, as amended, supplemented or restated from time to time, which provides for the management, operation, maintenance, use and enjoyment of each of the Resorts by the owners and which establishes the benefits and burdens upon such property.

          “Resort Purchaser” means Borrower and the owner of a Resort Interest in a Resort (the “Buyer” as such term is defined in the Resort Purchase Agreement).

          “Roundhouse Resort” means the Roundhouse Resort located in Pinetop/Lakeside, Arizona.

          “Sale Order” means an order of the Bankruptcy Court, in form and substance acceptable to Borrower and Lender and in substantially the form of Exhibit “G” attached hereto.

          “Sale Price” means the gross sales price paid by a Purchaser for one or more Timeshare Interests and shall not include closing costs, broker’s commission paid by Purchaser or any charge of interest.

          “Sale Shortfall Amount” has the meaning set forth in Section 2.12 hereof.

          “Sales and Marketing Agreement” means any agreement between Borrower and Marketing and Sale Agent for the sales and marketing of the Resort or the Club by such agent or any successor thereto, subject to Lender’s prior written consent.

          “Sea of Xxxxxx Premiere Vacation Club” means the Sea of Xxxxxx Premiere Vacation Club located in San Xxxxxx, Sonora, Mexico.

          “Section 363 Sale” is defined in the Recitals.

          “Servicer” means, collectively, Diamond Resorts Financial Services, Inc., a Nevada corporation, its successors or assigns, subject to Lender’s prior written consent and Concord Servicing Corporation which shall continue in a transition capacity for up to 180 days as the interim servicer and shall subsequently serve as Back-Up Servicer.

          “Servicing Agreement” means, individually and collectively, that certain Servicing Agreement dated of even date herewith, entered into between Concord Servicing Corporation, Servicer, Borrower, and Lender providing for the servicing of Pledged Timeshare Loans and providing certain required reports and for collection of payments made on Pledged Timeshare Loans which shall be in effect for an up to 180-day transition period, and the contemplated servicing agreement to be entered into subsequent to the Closing Date between Borrower, Lender and Diamond Resorts Financial Services, Inc. which shall be satisfactory to Lender.

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          “Stock Pool” has the meaning set forth in Section 2.13 hereof.

          “Subordinated Indebtedness” has the meaning set forth in Section 9 hereof.

          “The Inn at Los Abrigados” means The Inn at Los Abrigados located in Sedona, Arizona.

          “Timeshare Act” means the applicable timeshare act, statute and regulations in each jurisdiction in which a Resort is located, including, without limitation, Arizona, Nevada, Indiana, Colorado and Mexico.

          “Timeshare Interest(s)” means, collectively, Club Membership Interests and Resort Interests.

          “Timeshare Loan(s)” means, collectively, Club Loans and Resort Loans.

          “Title Company” means First American Title Insurance Company and its affiliates.

          “Title Insurance Company” means First American Title Insurance Company or such other title company as is acceptable to Lender.

          “Title Policy” has the meaning set forth in Section 4.20 hereof.

          “Trigger Event” has the meaning set forth in Section 2.5(a) of the Receivables Loan Agreement

          “UCC” means the Uniform Commercial Code as adopted and in effect in the State of (with respect to Collateral located in or subject to the Uniform Commercial Code in that State), and, with respect to Inventory Collateral located in any other State, the Uniform Commercial Code as adopted and in effect in that State, as amended from time to time..

          “Unit” means an apartment, condominium unit, room or other private or commercial structure affixed to real property and designed and available pursuant to applicable law for use and occupancy as a vacation residence by one or more individuals, together with all appurtenances thereto.

          “Unit Week” means specific fee simple interval ownership interests or other occupancy rights, each consisting primarily of a seven (7) day occupancy period in a type of Unit at a Club Resort legal title to which was conveyed to the Club by the applicable ILX Sellers or Borrower subsequent to the Closing Date pursuant to a special warranty deed and more particularly described in the then current Declaration of Annexation attached to the Club Membership Plan.

          “Unsold Timeshare Interests” means all Timeshare Interests to which Borrower has legal title (Resort Interests) or beneficial use rights (Club Membership Interests) for

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sale in the ordinary course of business, a list of which as of the Closing Date is set forth on Exhibit “B” attached hereto.

     “Varsity Clubs of America—South Bend Chapter” means the Varsity Clubs of America—South Bend Chapter located in South Bend, Indiana.

     “Varsity Clubs of America—Tucson Chapter” means the Varsity Clubs of America—Tucson Chapter, located in Tucson, Arizona.

     “Voluntary Prepayment” means voluntary prepayment of the Inventory Loan permitted to be made by Borrower under the terms of this Agreement.

          SECTION 2. THE INVENTORY LOAN AND TERMS OF PAYMENT.

     2.1 The Inventory Loan. Upon and subject to the conditions set forth in this Agreement, Lender shall make a the following Advances under the Inventory Loan to Borrower and Borrower shall borrow from Lender the amount of such Advances and buy the Acquired Assets subject to Lender’s Lien as of the Closing Date pursuant to the terms of this Agreement and the Inventory Loan Documents.

               (a) Lender shall make an Advance on the Closing Date of an amount not to exceed $4,356,912 to fund a portion of the purchase price paid by Borrower pursuant to the Asset Purchase Agreement;

               (b) Lender shall make an Advance on the Closing Date and another Advance subsequent to the Closing Date to fund the agreed upon closing costs as determined by Borrower and Lender;

               (c) Lender shall make an Advance to Borrower subsequent to the Closing Date to fund the Sale Shortfall Amount as more particularly described in Section 2.12 below;

               (d) The Inventory Loan shall otherwise be closed to any other Advances; and

               (e) The beginning balance of the Inventory Loan which is credited to the purchase price for the Acquired Assets as of the Closing Date is $11,945,408.

     2.2 Inventory Loan Promissory Note. Concurrently herewith, Borrower shall execute and deliver to Lender the Inventory Loan Promissory Note in the original principal amount not to exceed the Maximum Inventory Loan Amount. The indebtedness evidenced by the Inventory Loan Promissory Note shall be secured by the Inventory Collateral as more fully described herein.

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     2.3 No Advances. Other than the Advances described in Section 2.1 above, no further Advances are contemplated under the Inventory Loan.

     2.4 Interest Rate. The aggregate principal amount of the Inventory Loan which is outstanding from time to time shall bear interest on an actual 360 day basis at a rate per annum equal to the Interest Rate. The outstanding principal balance of the Inventory Loan shall bear interest in arrears as of Lender’s wiring of funds through its receipt of repayment of the Inventory Loan (if received by Lender later than 12 noon, EST, then interest accrual shall be through the next Business Day following such receipt). Upon the occurrence and during the continuation of an Event of Default and after the Inventory Loan Maturity Date (if the Inventory Loan is not paid in full on the Inventory Loan Maturity Date), at Lender’s election, in its sole discretion, the Inventory Loan shall bear interest at the Default Rate. Accrued and unpaid interest on the Inventory Loan shall be payable monthly on the first day of each month. In the event all interest is not paid in full each month, such interest shall be accrued and shall be paid and brought current by Borrower within ninety (90) days from the date each such payment is due under the Inventory Loan. Failure by Borrower to make the foregoing payments as required shall result in an Event of Default hereunder.

     2.5 Payments and Release Provisions — Inventory Loan and Receivables Loan. Borrower agrees punctually to pay or cause to be paid to Lender all principal, interest and Loan Costs due under the Inventory Loan Promissory Note or otherwise in respect to the Inventory Loan without any right of rescission, set off, counterclaim or defense for any reason. Borrower should make the following payments on the Inventory Loan:

               (a) Upon the sale or any resale of any Timeshare Interest (and related Club Membership) acquired by Borrower pursuant to the Section 363 Sale, Borrower shall make a release payment to Lender in an amount equal to a stated percentage of the Sales Price of the Timeshare Interest (and related Club Membership) then in effect (the “Release Payment(s)”. This Release Payment shall be paid to Lender pursuant to an escrow or other arrangement that is satisfactory to Lender and Lender shall sign a partial release of Lien if one is required, as set forth in Section 2.5(b) below with respect to any released Timeshare Interest. All Release Payments for sales made by Borrower shall be paid to Lender within ten (10) days subsequent to the end of the month in which sales for that month are made. The percentage of the Sales Price of the Timeshare Interest that constitutes the Release Payment shall commence at 20% of the Sales Price of the Timeshare Interest (and related Club Membership) and increase by an additional 1% (e.g. from 20% to 21%) for every six (6) months commencing July 1, 2011. So on July 1, 2011 the percentage constituting the Release Payment shall be increased to 21% and on January 1, 2012 the percentage constituting the Release Payment shall be increased to 22%. This 1% increase in the percentage constituting the Release Payment shall continue to occur on July 1, 2012 and thereafter for each succeeding 6 month period for so long as any portion of either the Inventory Loan or the Receivables Loan remains outstanding.

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               (b) Upon payment of the Release Payment, Lender shall provide Borrower, if required, with partial releases from the Lien of the Mortgage for any Timeshare Interest for which the applicable Release Payment has been made. Partial releases may be delivered into and released from an escrow or other arrangement which is acceptable to Lender. Each partial release, if any, relating to a Timeshare Interest that is executed and delivered by Lender and recorded in the applicable public records will serve to release from the Inventory Collateral the particular Financed Timeshare Interest(s) identified therein, for the period of time associated with such Financed Timeshare Interest(s). The partial release, if any, will in no way affect the balance of the Mortgage Collateral or the Lender’s Lien upon the same. Borrower shall bear all expenses (including, without limitation, legal fees and disbursements of Lender and recording costs) in connection with any such partial releases of Lien, and Borrower shall be responsible for recording any release documentation in respect of such releases.

               (c) A minimum of $4,000,000 in principal reductions to the Inventory Loan (through annual Release Payments or otherwise) shall be paid by Borrower to Lender during both calendar years commencing on January 1, 2011 and January 1, 2012. Thereafter, a minimum of $5,000,000 in principal reductions to the Inventory Loan (through annual Release Payments or otherwise) shall be paid by Borrower to Lender during each calendar year commencing January 1, 2013, January 1, 2014 and January 1, 2015. If the annual principal reductions to the Inventory Loan paid to Lender during any such annual period do not equal at least $4,000,000 per year for calendar years 2011 and 2012 and at least $5,000,000 per year thereafter, Borrower shall make an additional principal payment to Lender equal to the difference between the total minimum annual principal reduction to the Inventory Loan due for such annual period (either $4,000,000 or $5,000,000 as set forth above) and the amount of principal reductions to the Inventory Loan actually paid by Borrower during the stated calendar year, within 15 days after the end of each calendar year.

               (d) All Release Payments shall be applied on a monthly basis to the Inventory Loan as follows: (i) first to the payment of Loan Costs and to any portion then due of the Annual Inventory Loan Fee, (ii) second to the payment of interest accrued at the Default Rate under this Agreement; (iii) third to the payment of accrued and unpaid interest under this Agreement and (iv) fourth toward reduction of the principal balance of the Inventory Loan except as set forth in Section 2.5(e) below. If the Inventory Loan is paid in full, Borrower shall continue to be obligated to make Release Payments which shall be applied to the repayment of the Receivables Loan by Lender until the Receivables Loan is paid in full.

               (e) Notwithstanding the provisions of Section 2.5(d) above, if a Trigger Event occurs as such term is defined in Section 2.5(a) of the Receivables Loan Agreement, the Release Payments paid to Lender subsequent to the occurrence of the Trigger Event and during the period of time the Trigger Event is continuing, shall be applied in the following order:

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                    (i) First to the payment of Loan Costs and to any portion then due of the Annual Inventory Loan Fee as such term is defined herein;

                    (ii) Then to the payment of Loan Costs under the Receivables Loan;

                    (iii) Then to the payment of interest accrued at the Default Rate under the Inventory Loan;

                    (iv) Then to the payment of interest accrued at the Default Rate as such rate is defined in the Receivables Loan Agreement;

                    (v) Then to the payment of accrued and unpaid interest under the Inventory Loan;

                    (vi) Then to the payment of accrued and unpaid interest under the Receivables Loan;

                    (vii) Then to the payment of principal outstanding under the Inventory Loan; and

                    (viii) Then to the payment of principal outstanding under the Receivables Loan.

               (f) If an Event of Default occurs and is continuing, Lender may apply the Release Payments received to the Inventory Loan and/or the Receivables Loan at Lender’s sole discretion.

               (g) The entire outstanding principal balance of the Inventory Loan, together with all other Obligations, shall be paid in full on or before the Inventory Loan Maturity Date.

     2.6 Voluntary Prepayment of Inventory Loan. Borrower may prepay the Inventory Loan, in whole or in part, at any time without premium or penalty. Any such prepayment must include all outstanding principal, accrued but unpaid interest, and all other Obligations then due and owing (other than contingent indemnification Obligations to the extent no unsatisfied claim with respect thereto has been asserted) that remain unpaid at the time of the prepayment.

     2.7 Upgraded Timeshare Interest. Any upgrade of an existing obligor under any Pledged Timeshare Loan as indicated on the monthly servicing report provided to Lender requires a principal pay down by Borrower to Lender of the Receivables Loan in an amount equal to the outstanding balance of principal and accrued and unpaid interest due from such existing obligor under such existing Pledged Timeshare Loan at the time of the upgrade.

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     2.8 Protective Additional Advances. Notwithstanding the Maximum Inventory Loan Amount, Lender shall have the right, but not the obligation, to fund amounts in excess of the Maximum Inventory Loan Amount from time to time to pay accrued and unpaid interest, to pay taxes, to protect Inventory Collateral, to cause compliance with Inventory Loan covenants, to address Defaults or Events of Default, or to enforce rights or remedies (Borrower agreeing that such action by Lender shall not cure any Event of Default unless Lender agrees to such cure in writing). Any excess amounts so funded by Lender shall be evidenced by the Inventory Loan Promissory Note and this Agreement, and by all Inventory Loan Documents, and secured by all Inventory Collateral. Borrower agrees to execute additional notes, mortgages, guarantees or other Inventory Loan Documents as may be reasonably requested by the Lender.

     2.9 Borrower’s Equity. Borrower as a condition precedent to the closing of the Inventory Loan is required to make a cash payment of not less than $1,500,000 to pay a portion of the purchase price of the Section 363 Sale to the ILX Sellers at the time of closing of the Section 363 Sale.

     2.10 Annual Inventory Loan Fee. The full annual Inventory Loan Fee shall be earned by Lender each year during the term of the Inventory Loan. Borrower shall pay a percentage of each year’s Annual Inventory Loan Fee as set forth in the following chart which payment shall be made by Borrower to Lender within 45 days after the end of each stated twelve (12) month period:

		12-months				24-months				36-months				48-months				60-months				72-months
12-months from Closing Date			25	%			25	%			25	%			25	%
24-months from Closing Date							25	%			25	%			50	%
36-months from Closing Date											25	%			75	%
48-months from Closing Date															50	%			50	%
60-months from Closing Date																			100	%

          Failure of Borrower to pay the percentage of the Inventory Mortgage Loan Fee owed to Lender in a timely manner shall result in an Event of Default under the Inventory Loan.

     2.11 Usury Savings Clause. Lender and Borrower intend to comply at all times with applicable usury laws. All agreements between Lender and Borrower, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of demand or acceleration of the maturity of the Inventory Loan or otherwise, shall the interest contracted for, charged, received, paid or agreed to be paid to Lender exceed the maximum rate permissible under applicable usury laws (“Maximum Rate”). If, from any circumstance whatsoever fulfillment of any provision hereof, of the Inventory Loan Promissory Note or of any other Inventory Loan Documents shall involve transcending the limit of such validity prescribed by any law which a court of competent jurisdiction may deem applicable hereto, then ipso facto, the obligation to be fulfilled shall be reduced to the limit of such validity; and if from any circumstance Lender shall ever receive anything of value deemed interest by applicable law which would exceed the Maximum Rate, such amount which would be excessive

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interest shall be applied to the reduction of the principal of the Inventory Loan and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal of the Inventory Loan, such excess shall be refunded to Borrower. All interest paid or agreed to be paid to Lender shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal so that the interest on the Inventory Loan for such full period shall not exceed the Maximum Rate. Borrower agrees that in determining whether or not any interest payment under the Inventory Loan Documents exceeds the Maximum Rate, any non-principal payment (except payments specifically described in the Inventory Loan Documents as “interest”) including without limitation, prepayment fees and late charges, shall to the maximum extent not prohibited by law, be an expense, fee, premium or penalty rather than interest. Lender hereby expressly disclaims any intent to contract for, charge or receive interest in an amount which exceeds the Maximum Rate. The provisions of each of the Inventory Loan Promissory Note, this Agreement and all other Inventory Loan Documents are hereby modified to the extent necessary to conform with the limitations and provisions of this paragraph, and this paragraph shall govern over all other provisions in any document or agreement now or hereafter existing. This Paragraph shall never be superseded or waived unless there is a written document executed by the Lender and the Borrower, expressly declaring the usury limitation of this Agreement to be null and void, and no other method or language shall be effective to supersede or waive this paragraph.

     2.12 Forest Service Loan. Borrower and Lender agree that pursuant to the Plan, a Stock Pool has been established for the deposit of certain assets contributed by Borrower and Lender for the benefit of holders of stock in the ILX Sellers (the “Stock Pool”). Lender has agreed to make a cash payment to the Stock Pool equal to $2,100,000 plus 12% interest per annum from the Closing Date until the date the payment is made to the Stock Pool through an escrow arrangement pursuant to the terms of the Escrow Agreement in consideration for the conveyance of the Forest Service Land to Lender or its designee. Concurrently with the time such payment is paid to the Stock Pool directly by Lender or by the escrow agent pursuant to the Escrow Agreement, Borrower shall pay to Lender $1,050,000 in cash plus 50% of any interest due to the Stock Pool pursuant to the terms of the Escrow Agreement. Additionally, concurrently with the closing of the sale of the Forest Service Land by Lender or its designee to a third party purchaser, Borrower shall pay to Lender an amount equal to the difference between $4,994,460 and the purchase price paid by a third party purchaser for the Forest Service Land at the closing of the sale of the Forest Service Land (the “Sale Shortfall Amount”). Lender shall fund the payment by Borrower to Lender of the Sale Shortfall Amount by making an advance under the Inventory Loan to Borrower of the Sale Shortfall Amount.

SECTION 3. COLLATERAL.

     3.1 Grant of Security Interest. To secure the prompt and complete payment and performance by the Borrower of all of its Obligations, for value received, Borrower unconditionally and irrevocably assigns, pledges and grants to Lender a continuing first

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priority Lien, mortgage and security interest in and to all of the following, whether now owned or existing or hereafter acquired, reacquired or arising (collectively, the “Inventory Collateral”)

               (a) All present and future Mortgaged Property in or related to the Club or any of the Resorts, including, without limitation, the particular Financed Timeshare Interests identified as “Timeshare Interests” and as “Unit Weeks” and as described more fully in each applicable Mortgage, together with all appurtenant rights and interests, including appurtenant rights and interests in and to Units for specified Timeshare Interests or Unit Weeks, and appurtenant or related rights in and to the applicable Resort facilities, common areas, and including related buildings, structures, improvements, fixtures and installations now or at any time hereafter located on the real property which, as described in the applicable Resort Plan or Club Membership Plan, is made subject to the Club and the Resorts, and easements, servitudes, licenses, rights of way, privileges, appurtenances, leasehold interests (whether as lessor or lessee), and access and use rights in and to all Resort facilities and amenities, all as described and provided in the applicable Club Membership Plan or Resort Plan; and all extensions, betterments, substitutions, improvements and replacements thereof;

               (b) The Borrower’s interests, title, status and rights in, to and under all present and future Contracts;

               (c) All present and future documents, instruments, pre-and post-bankruptcy accounts and Accounts, and all rights to the payment of money from sales or use of time share Intervals which are subject to the Lien of any applicable Mortgage, including under past, present or future loans or debt arrangements, and all rights under law or agreement against account debtors or obligors, whether or not a Borrower has earned payments or rights by performance, and all present and future documents, instruments and all general intangibles;

               (d) With respect to Mortgaged Property, to the extent of Borrower’s rights therein, all FF&E and goods of every kind and description (and all improvements and accessions thereto and substitutions and replacements therefor) located in or on or used in connection with any such Mortgaged Property;

               (e) With respect to Mortgaged Property, easements, servitudes, leasehold interests (whether as lessor lessee), and rights to occupy, use and enjoy Club or any Resort facilities or amenities, and all Rents, deposits, credits, franchises, permits, approvals, licenses, facilities and amenities on, affecting or appurtenant to the Mortgaged Property;

               (f) The Collateral Assignments;

               (g) All present and future Rents;

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               (h) All plans, agreements for the furnishing of architectural, engineering or design services and all agreements for the furnishing of labor and/or material in connection with the development and construction of any of the Mortgaged Property together with the assignment of any payment and performance bonds for completion of any of the Mortgaged Property.

               (i) All present and future inventory, general intangibles used or useful in connection with, and placed or to be placed on or under any of the Mortgaged Property and the cash or non-cash proceeds thereof.

               (j) All furniture, furnishings, appliances, machines, plumbing, heating, ventilating, air-conditioning systems, fixtures and equipment used or useful in connection with, and placed or to be placed on or under the Mortgaged Property and the cash and non-cash proceeds thereof.

               (k) All rights of Borrower in and to the collection account and any depository account, clearing account, escrow account, or reserve account into which cash or proceeds from Timeshare Interest sales are deposited at any time, and all cash or proceeds from Timeshare Interest sales for Release Payments, and all rights of setoff, and all benefits, claims, accounts, accounts receivables, general intangibles, choses in action, claims, credits, balance and proceeds relating thereto or deriving therefrom.

               (l) Extensions, additions, modifications, improvements, betterments, renewals, substitutions and replacements of, for or to any of the foregoing wherever located, together with the products, proceeds, revenues, income, issues, rents and profits thereof, including without limitation, proceeds deriving from enforcement of any rights or benefits, and any replacements, additions or accessions thereto or substitutions thereof, and all rights or claims in or under insurance policies and to the proceeds of any insurance policies covering any of the foregoing, all rights to unearned or refunded insurance premiums, and the proceeds of any insurance or condemnation awards or judgments, tax refunds, or any claims regarding any of the Mortgaged Property;

               (m) All Real Property and FF&E owned by Borrower including, without limitation (i) all sales and marketing centers, (ii) the lease with Indian Xxxxx Partners for 00 Xxxxxx Xxxx in Sedona, Arizona, (iii) a portion of 000 Xxxxxx Xxxx in Sedona, Arizona, (iv) excepted areas of Los Abrigados Resort, 160 Portal Lane, Sedona, Arizona, (v) 81 Short Road, Gila County, Arizona, (vi) the small tracts (Xxxx’x Ranch), Gila County, Arizona, and (vii) all other leases assumed by Borrower as set forth on Exhibit “D” attached hereto;

               (n) All books, records, reports, computer tapes, disks and software, and all related licenses, franchises, agreements or use rights, relating to the foregoing, including, without limitation, the Reservation System and the Intellectual Property acquired by Borrower pursuant to the Asset Purchase Agreement;

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               (o) The Club Inventory subject to the provisions of the Mortgage thereon;

               (p) All of the unsold Timeshare Interests now or hereafter owned by Borrower (or use rights to which are owned by Borrower); the unsold Timeshare Interests are as of the Closing Date are referenced in the Eagle 9 UCC Policy provided by the Title Company dated as of the Closing Date;

               (q) All of Borrower’s or a to be formed Mexican subsidiary of Borrower’s interest in the Fideicomisco trust which holds title to the Sea of Xxxxxx Premiere Vacation Club, in the principal amount of $2,500,000 filed under No. 53359 in Volume 440, Sec. 1 on September 29, 1998, in the Public Registry of Guaymans, Sonora, Mexico; and

               (r) The Receivables Collateral.

Borrower acknowledges and confirms that Lender is hereby granted and shall continue to hold, a continuing security interest and Lien in, to and upon, and right of set off with respect to the Inventory Collateral and such Lien shall continue in full force and effect until all Obligations under the Inventory Loan and Receivables Loan have been fully and finally paid, performed and satisfied. IT IS THE EXPRESS INTENT OF THE BORROWER THAT ALL OF THE INVENTORY COLLATERAL SHALL SECURE NOT ONLY OBLIGATIONS UNDER THE INVENTORY LOAN DOCUMENTS WITH RESPECT TO THE INVENTORY LOAN, BUT ALSO THE OBLIGATIONS OF BORROWER TO LENDER UNDER THE RECEIVABLES LOAN AND THE LOAN DOCUMENTS FOR THE RECEIVABLES LOAN.

     3.2 Intentionally Omitted.

     3.3 Financing Statements. Borrower agrees, at its own expense, to execute the financing statements (including amendments and continuation statements) provided for by the UCC together with any and all other instruments or documents and take such other action as may be required to perfect and to continue the perfection of Lender’s security interests in the Inventory Collateral. Alternatively in accordance with the UCC, Borrower hereby authorizes the Lender to execute and file any such financing statements on Borrower’s behalf, including in connection with any electronic filings permitted by the UCC. To the extent permissible under the UCC, a photocopy or other reproduction of a financing statement or of Borrower’s or the Lender’s signature thereto (except with respect to a partial release or termination statement of change), is agreed to be sufficient as a financing statement.

     3.4 Location of Collateral. All tangible Inventory Collateral which is Encumbered Personal Property is to remain at all times on the premises of Borrower at its principal office in Las Vegas, Nevada or at a Resort and Borrower represents and warrants to Lender that all of the currently existing tangible Inventory Collateral is now located there and Borrower will not transfer any of the Inventory Collateral without the

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prior written consent of Lender. Borrower shall upon receipt of a written request from Lender, alter the occurrence of an Event of Default, deliver to Lender then current copies of computer tapes, disks, software and micro-fiche records which constitute the books and records for the Inventory Collateral.

     3.5 Insurance and Protection of Inventory Collateral. Borrower agrees to maintain or cause to be maintained and pay for or cause the applicable Association or the Club to pay for insurance upon all Inventory Collateral wherever located (including whether in storage or in transit) covering risks in such amounts and with such insurance companies as are approved by Lender. To the extent any casualty insurance coverage required under this Agreement with respect to any of the Resorts is provided by the Association, and to the extent any portion of the Inventory Collateral is covered by such insurance, with respect to such portion of the Inventory Collateral only, the Borrower’s obligation under this Section 3.5 shall be to use reasonable commercial efforts to cause the Association to maintain such casualty insurance coverage.

     3.6 Intentionally Omitted.

     3.7 Security Agreement. This Agreement shall be deemed a security agreement as defined in the UCC, and the remedies for any violation of the covenants, terms and conditions of the agreements herein contained shall be cumulative and be as prescribed (a) herein or in any of the Inventory Loan Documents, or (b) by law, or (c) as to such part of the Inventory Collateral which is also reflected in any filed assignment or financing statement, by the specific provisions of the UCC or other applicable law now or hereafter enacted, all at the Lender’s sole election, as may be exercised on one or more occasions.

     3.8 Cross Collateralization/Cross Default.

     Obligations outstanding under the Receivables Loan or the Inventory Loan or made in respect of Receivables Collateral or Inventory Collateral pledged by Borrower pursuant to the Receivables Loan or the Inventory Loan (inclusive of obligations which have been paid in full but pursuant to which Lender maintains existing Receivables Collateral or Inventory Collateral) and all Loan Documents and Inventory Loan Documents, are and shall be cross-collateralized and cross-defaulted with each other. Borrower agrees to deliver financing statements and other documents, instruments and agreements as may be required by the Lender to further evidence and perfect the Liens and cross collateralization in favor of Lender. A default under the Nevada Resorts Loan will result in an Event of Default under the Receivables Loan and Inventory Loan; however, a default under the Receivables Loan or Inventory Loan will not result in a default under the Nevada Resorts Loan.

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SECTION 4. CONDITIONS PRECEDENT TO CLOSING AND MAKING ADVANCES UNDER THE INVENTORY LOAN.

     The obligation of Lender to enter into this Agreement and to fund the contemplated Advances hereunder shall be subject to the satisfaction of each of the following conditions precedent, in addition to all of the conditions precedent set forth elsewhere in the Inventory Loan Documents:

     4.1 Opinion of Counsel. Lender shall have received from counsel for the Borrower an opinion of counsel effective as of the Closing Date regarding existence, power and authority and good standing of Borrower and enforceability of the Loan Documents, which shall be in form and substance reasonably acceptable to the Lender.

     4.2 Closing Deliveries. Lender shall have received, in form and substance satisfactory to the Lender, all documents, instruments and information required to be delivered by Borrower to Lender in connection with the closing.

     4.3 Liens. Lender shall have received satisfactory evidence that all Liens granted to Lender pursuant to this Agreement and the Inventory Loan Documents have been duly perfected and constitute valid, enforceable and exclusive, first priority Liens in favor of Lender on the Inventory Collateral.

     4.4 Representations and Warranties. The representations, warranties and covenants contained herein and in the other Inventory Loan Documents shall be true, correct and complete on and as of the Closing Date and throughout the term of the Inventory Loan.

     4.5 Performance of Agreements. Borrower shall have performed all agreements, paid all Loan Costs (subject to Section 4.17) and satisfied all conditions which any of the Inventory Loan Documents provides are due to be paid or performed by it as of such date.

     4.6 Governmental Approvals. Lender shall have received evidence satisfactory to Lender that all material approvals, licenses, permits and consents shall have been obtained and shall be in good standing and full force and effect, with respect to (a) the Club, the Resorts and the operation of the Club and the Resorts, and (b) the marketing and sale of Timeshare Interests.

     4.7 No Prohibitions. Borrower shall not have taken any action or permitted any condition to exist which would have been prohibited by any provision of this Agreement if such provision had been binding.

     4.8 No Default. After giving effect to the transactions contemplated hereunder to occur on the Closing Date, no Default or Event of Default shall exist immediately prior to the Closing Date or prior to the making of any Advance hereunder, or after giving effect to any Advances made hereunder.

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     4.9 Legal Requirements. Lender shall have received evidence satisfactory to Lender that the Club and the Resorts, the Inventory Collateral and the Borrower, are in compliance with all Legal Requirements in connection with the establishment and operation of the Club and the Resorts, and the marketing and sales of Timeshare Interests, and the closings of sales, including without limitation, applicable timeshare and condominium acts and applicable consumer protection and disclosure laws and regulations.

     4.10 Litigation. Except as may be disclosed on the Litigation Summary attached hereto as Exhibit “H”, with respect to the DRC Affiliates or the Borrower, there shall be no bankruptcy, foreclosure action or other material litigation or judgments pending or outstanding against the Borrower or the DRC Affiliates (each a “Material Party”). The term “other material litigation” as used herein shall not include matters in which (i) a Material Party is plaintiff and no counterclaim is pending or (ii) which Lender determines, in its sole discretion, are immaterial due to settlement, insurance coverage, frivolity, or amount or nature of claim. Lender may require updated litigation searches and explanations in its discretion.

     4.11 Government Permits. Lender shall have received and approved true, correct and complete copies of all applicable governmental permits, approvals, consents, licenses, and certificates for the establishment of the Club and the Resorts as timeshare projects in accordance with the Legal Requirements and for the occupancy and intended use and operation of the Club and the Resorts, or certification by the Borrower confirming that to the best of Borrower’s knowledge water, sewer (sanitary and storm), electricity, gas, solid waste disposal, telephone, police, fire and rescue services are being provided to the Club and the Resorts.

     4.12 Club Membership Documents and Resort Documents. When available subsequent to the Closing Date, Lender shall receive and consent to (which consent shall not be unreasonably withheld) true, correct and complete copies of forms of all Club Membership Documents, and all Resort Documents, registrations, materials and approvals relating to the Club and the Resorts which Borrower intends to use on a going forward basis.

     4.13 Taxes. Lender shall have received satisfactory evidence that all taxes and assessments owed by or for which the ILX Sellers, Borrower or the applicable Association are responsible for collection have been paid to the extent due, which taxes and assessments include, without limitation, sales taxes, room occupancy taxes, payroll taxes, personal property taxes, excise taxes, intangibles taxes, real property taxes, and income taxes, transfer and documentary stamp taxes and any assessments related to the Club and the Resorts.

     4.14 Financial Statements. Lender shall have received and approved the Financial Statements required for the Parent in form and substance reasonably satisfactory to Lender.

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     4.15 Preclosing Inspections. Lender shall have conducted and approved due diligence inspections of the Borrower, the Lockbox Agent, the Servicer, the Back-Up Servicer, the Club and Resorts, the Marketing and Sales Agent, the Custodian, the Club Manager, the Resort Manager, the marketing programs with respect to Timeshare Interests, the Timeshare Loans and other Inventory Collateral, and such other matters as Lender may deem necessary.

     4.16 Proceedings Satisfactory. All actions taken in connection with the execution or delivery of the Inventory Loan Documents, and all documents and papers relating thereto, shall be reasonably satisfactory to Lender and its counsel. Lender and its counsel shall have received copies of such documents and papers as Lender or such counsel may reasonably request in connection therewith, all in form and substance satisfactory to Lender and its counsel.

     4.17 Loan Costs. Borrower shall have paid the Loan Costs required to be paid prior to or at closing,hereunder, which Loan Costs after agreed to by Borrower and Lender shall be funded pursuant to an Advance under the Inventory Loan pursuant to the terms of the Agreement.

     4.18 Sufficiency of Club Inventory. Borrower shall demonstrate upon the request of Lender the existence of adequate Club Inventory and Resort Interest inventory so as to meet all demands for usage as evidenced by UCC Article 9 title policies issued by the Title Company.

     4.19 Intentionally Omitted.

     4.20 Title Insurance. With respect to the Inventory Loan, at least three (3) days prior to the Closing Date, Borrower shall deliver or cause to be delivered to Lender a mortgagee’s title insurance commitment to Lender, its successors and assignors, to issue a mortgagee’s title insurance policy(ies) or an acceptable endorsement(s) to existing mortgagee title policies, underwritten by the Title Insurance Company in all respects and in form and substance acceptable to Lender, to insure in favor of Lender the first priority Lien of each Mortgage executed by Borrower in favor of Lender with respect to the applicable Mortgaged Real Property and containing such affirmative coverage as Lender deems reasonably necessary. The mortgagee’s title insurance policy(ies) for all of the Mortgages shall be issued within thirty (30) days of the Closing Date with all required endorsements and must insure that each applicable Mortgage creates a first priority lien in and to the applicable Mortgaged Property in favor of Lender, (individually and collectively, “Title Policy”). Lender will accept an Eagle 9 UCC Vacation Interest Policy for all Timeshare Interests owned by the Club for which a standard mortgagee’s title policy is not available.

     4.21 Background Documents. Borrower shall have delivered to Lender and Lender shall have approved each of the following (collectively, the “Background Documents”):

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               (a) Borrower’s Organizational Documents. Copies of Borrower’s organizational documents, including but not limited to its articles of incorporation and bylaws, together with any amendments thereto, certified to be true and complete by Borrower’s Chief Financial Officer;

               (b) Good Standing Certificates. Current good standing certificates issued by the Secretaries of State for the respective states of formation of Borrower and the DRC Affiliates;

               (c) Resolutions. A Certificate of Borrower’s Secretary and certified resolutions of Borrower’s Board of Directors authorizing the execution of all Inventory Loan Documents and the performance of all Obligations thereunder.

     4.22 Funding Procedure. The obligation of Lender to make any Advances hereunder shall be subject to the satisfaction of all of the following conditions precedent:

               (a) Inventory Loan Documents/Inventory Collateral. Not less than three (3) Business Days prior to the Closing Date under the Inventory Loan, the Borrower shall have delivered to Lender all of the following:

                    (i) Title Commitment. An original mortgagee’s title commitment consistent with each of the title commitments provided to Lender as of the Closing Date signed by an authorized agent of the Title Insurance Company which provides a commitment to issue a Title Policy to insure the first priority Lien of Lender in and to all of the Mortgaged Real Property in an amount equal to the aggregate outstanding principal balance of the Inventory Loan on the Closing Date.

                    (ii) delivered to Lender original UCC financing statements covering the Inventory Collateral to be recorded in the applicable public records and filed with the authorized filing office for the Delaware Secretary of State’s Office, as well as any applicable UCC-3 amendments or terminations of any of other interests in the Inventory Collateral.

     The Mortgage, the UCC financing statements and the Collateral Assignments, shall each have been duly recorded in the public records of the applicable jurisdiction in which each Resort is located and Maricopa County, Arizona for the Club and with each applicable Secretary of State’s office. The Title Policy issued in connection with the Inventory Loan shall be consistent with the pro forma mortgagee’s title insurance policies or mortgagee’s title commitments all of which are in form and substance satisfactory to Lender, issued by the Title Insurance Company, name Lender and its successors and assigns as the insured party therein and contain such exceptions and conditions to title as Lender shall approve in writing, which approval shall not be unreasonably withheld and such affirmative coverage as Lender deems reasonably necessary. The funding of any Advance, delivery of the Inventory Collateral, issuance of the Title Policy and recording of the Collateral Assignments, other assignments or

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any releases and the UCC financing statements may, in Lender’s discretion, be effected by way of any escrow or other arrangement satisfactory to Lender.

               (b) Expenses. The Borrower shall have paid all fees and expenses required pursuant to this Agreement to be paid on the Closing Date subject to Section 4.17 herein.

               (c) Proceedings Satisfactory. All actions taken in connection with the Advances and all documents and papers relating thereto shall be satisfactory to Lender and its counsel. Lender and its counsel shall have received copies of such documents and papers as Lender or such counsel may reasonably request in connection with any Advance, all in form and substance satisfactory to Lender and its counsel.

     4.23 Limitation on Section 4 Deliveries. Notwithstanding anything to the contrary contained in this Section 4 or elsewhere in this Agreement, Lender acknowledges and agrees that Borrower shall be required to deliver to Lender only those deliveries that have been made by the ILX Sellers to the Borrower pursuant to the Asset Purchase Agreement or otherwise provided to Borrower through the Bankruptcy Court in accordance with the Sale Order and that Borrower shall have no affirmative obligation to provide any deliveries not received by Borrower pursuant to the Asset Purchase Agreement or otherwise provided to Borrower through the Bankruptcy Court in accordance with the Sale Order, except for deliveries agreed to by Borrower and Lender. Lender shall be granted Liens on the Receivables Collateral as set forth herein and in the Loan Documents.

SECTION 5. INTENTIONALLY OMITTED.

SECTION 6. BORROWER’S REPRESENTATIONS AND WARRANTIES.

     So long as any portion of the Obligations (other than contingent indemnification obligations to the extent no unsatisfied claim with respect thereto has been asserted) remains unpaid, Borrower shall at all times be in full and timely compliance with all of the following representations and warranties hereby made to Lender:

     6.1 Formation, Existence, Qualification and Compliance. Borrower is a corporation duly organized, validly existing, and fully qualified and authorized to do business in the State of Delaware. Borrower and its business and operations are in full compliance with all applicable Legal Requirements. Borrower is governed by the terms of its articles of incorporation and bylaws, true copies of which have been delivered to Lender. There is no agreement of any kind other than as provided Lender which governs Borrower.

     6.2 Authorization and Execution. Borrower has taken all action required to permit Borrower to enter into this Agreement or any other agreement or transaction contemplated herein, and the same is valid and binding upon Borrower. No officer or

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agent of Lender shall be required to make any inquiry concerning the validity of any transaction purported to be made by Borrower or the authenticity of any signature or endorsements relating to same, and Lender may conclusively assume that every obligation, agreement, instrument or act or thing done and executed by such Person purportedly on behalf of Borrower has been so executed or done in this official capacity as an agent of Borrower:

               (a) The execution, delivery and performance by Borrower of the Inventory Loan Documents has been duly authorized by all necessary corporate actions by Borrower and does not and will not (i) violate any provision of Borrower’s certificate of incorporation or bylaws, or any agreement, law, rule, regulation, order, writ, judgment, injunction, decree, determination or award presently in effect to which Borrower is a party or is subject; (ii) result in, or require the creation or imposition of, any Lien upon or with respect to any asset of Borrower other than Liens in favor of Lender; or (iii) result in a breach of, or constitute a default by Borrower under, any indenture, loan or credit agreement or any other agreement, document, instrument or certificate to which Borrower is a party or by which it or any of its assets are bound or affected.

               (b) No approval, authorization, order, license, permit, franchise or consent of, or registration, qualification or filing with, any Governmental Authority or other Person, including without limitation, any applicable regulatory authorities or the applicable Association, is required in connection with the execution, delivery and performance by Borrower of any of the Inventory Loan Documents.

               (c) The Inventory Loan Documents constitute legal, valid and binding obligations of Borrower, enforceable against Borrower in accordance with their respective terms.

               (d) Borrower has good and marketable title to all of the Inventory Collateral, free and clear of any Lien, security interest, charge or encumbrance except for the Liens or security interests created by this Agreement or any Inventory Loan Document or otherwise created in favor of Lender. All financing statements or other instrument similar in effect covering all or any part of the Inventory Collateral shall be terminated as of the Closing Date, except such as may have been filed in favor of Lender.

               (e) The execution and delivery of the Inventory Loan Documents, the delivery and recordation of each Mortgage in the applicable public records of the county or jurisdiction in which the Mortgaged Real Property is located, the filing of the UCC-1 Financing Statements and any amendments thereto with the authorized filing office in each jurisdiction in which a Resort is located and the recordation of the Collateral Assignment of Declarant Rights, in the applicable public records of each county in which a Resort is located and Maricopa County, Arizona for the Club create in favor of Lender a valid and perfected continuing Liens in and to all of the Inventory Collateral. The Inventory Collateral shall secure the full payment and performance of the Obligations.

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               (f) Each Mortgage constitutes and shall continue to constitute valid and enforceable first and prior Liens and security interests on the Mortgaged Property.

               (g) Lender is not and shall not be required to take, and Borrower has taken any and all required steps to perfect Lender’s Liens in the Inventory Collateral (other than maintaining possession of the portion of the Inventory Collateral constituting instruments and timely filing continuation statements for the Financing Statements); and Lender is not and shall not be required to collect or realize upon the Inventory Collateral or any distribution of interest or principal, nor shall loss of, or damage to, the Inventory Collateral release Borrower from any of the Obligations.

     6.3 No Disciplinary Action. Borrower is not subject to any disciplinary actions or proceedings by any Governmental Authority with respect to any licenses or permits held by Borrower;

     6.4 Other Agreements. Borrower’s execution, delivery and performance of this Agreement, the Inventory Loan Documents and the borrowing evidenced by the Inventory Loan Promissory Note (i) will not violate any indenture, agreement or any other instrument to which such Borrower is a party or by which Borrower or any of its property is bound; and (ii) will not be in conflict with, result in a breach of or constitute (with due notice and/or lapse of time) a default under any such indenture, agreement or other instrument, or result in the creation or imposition of any Lien, charge or encumbrance of any nature whatsoever upon any of such Borrower’s property or assets, except as contemplated by the provisions of this Agreement. This Agreement and the documents which collectively constitute the Inventory Loan Documents, when executed and delivered to Lender, will constitute the legal, valid and binding obligations of respective signatories thereto enforceable against Borrower in accordance with their respective terms.

     6.5 Financial Statements and Business Condition. Taken as a whole, all financial data and other information of whatever nature that have been given to Lender with respect to Parent (i) is complete and correct and does not omit to state any material fact necessary in order to make the statements herein or therein not misleading; and (ii) accurately presents the financial condition of Parent as of the date on which the same have been furnished to Lender. To the extent required by GAAP, all balance sheets disclose all known liabilities, direct and contingent, as of their respective dates. No Material Adverse Effect has occurred since the date of the most recent of each such financial statement given to Lender other than changes in the ordinary course of business, none of which changes have had or could reasonably be expected to have a Material Adverse Effect.

     6.6 Title to Properties: Prior Liens. Borrower or the Club (with respect to the Club Inventory) has good and marketable title to all of the Inventory Collateral. Borrower’s sole business involves the marketing, sale and financing of Timeshare Interests at each of the Resorts and Club. Other than the Liens granted in favor of

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Lender, there are no Liens or encumbrances against all or any portion of the Inventory Collateral.

     6.7 Subsidiaries, Affiliates and Capital Structure. Borrower has no subsidiaries or Affiliates which have any involvement or interest in any of the Resorts or the Club in any way except for the DRC Affiliates. Neither Borrower nor any of the DRC Affiliates is a party to any proxies, voting trusts, member’s agreements or similar arrangements pursuant to which voting authority, rights or discretion with respect to Borrower is vested in any other Person.

     6.8 No Defaults. Borrower is not in default in the performance, observance or fulfillment of any of the obligations, covenants or conditions set forth in any agreement or instrument to which it is a party.

     6.9 Accurate Reports. All other reports, papers, data and information provided by Borrower to Lender with respect to Borrower and the DRC Affiliates, are accurate and correct and complete insofar as completeness may be necessary to give Lender a true and accurate knowledge of the subject matters.

     6.10 Taxes. Borrower is a newly formed entity that has not been required to file any federal, state and material county and municipal income tax returns. To Borrower’s actual knowledge, there is no pending or threatened tax audit with respect to the Club, the Resorts, the DRC Affiliates or any applicable Association. To Borrower’s actual knowledge, no documentary stamp or intangible tax is due in connection with any Timeshare Interests or Pledged Timeshare Loans and if such taxes are held to be due, Borrower will pay all documentary stamp and intangible taxes to the appropriate taxing authority.

     6.11 Litigation and Proceedings. There are no actions, suits, proceedings, orders or injunctions pending or, to the best of Borrower’s knowledge, threatened against or affecting Borrower or any of the DRC Affiliates, at law or in equity, or before or by any Governmental Authority, which could reasonably be expected to have a Material Adverse Effect with the sole exception of the litigation and potential future litigation listed and further described in Exhibit “H”, attached hereto which lists currently pending litigation against Borrower and the DRC Affiliates. Borrower has received no written notice from any Governmental Authority alleging that Borrower, the ILX Sellers, the Resorts, the Club or any of the DRC Affiliates has violated any state registration law, any other applicable statute, ordinance, rule or regulation governing the marketing and sale of Timeshare Interests, any Club Membership Plan, Resort Plan or any other applicable Legal Requirements that could reasonably be expected to have a Material Adverse Effect. Borrower shall provide to Lender prompt written notice of any action commenced against any of the foregoing Persons to the extent Borrower reasonably believes such action could give rise to a Material Adverse Effect or material breach of any of the provisions of this Agreement.

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     6.12 Licenses. To the best of Borrower’s knowledge, no authorization, consent, approval, License, exemption, filing or registration with any court or governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, or securities exchange, is or will be necessary to the validity of the rights created under this Agreement.

     6.13 Solvency. Borrower and each of the DRC Affiliates is able to pay all of their respective debts as they become due and Borrower and each of the DRC Affiliates shall maintain such solvent financial condition, giving effect to the Obligations, as long as Borrower is obligated to Lender hereunder. Borrower’s Obligations under this Agreement and under the Loan Documents will not render Borrower unable to pay its debts as they become due. The present fair market value of Borrower’s and each of DRC Affiliates’ assets is greater than the amount reserved to pay their respective total liabilities. Neither Borrower nor any of the DRC Affiliates has made an assignment for the benefit of creditors; suspended business or commenced proceedings for its dissolution; filed bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings for relief under the bankruptcy, insolvency or receivership laws for the relief of debtors, instituted by or against any of them or has consented thereto; or has any judgment, writ or warrant or attachment, or similar process, entered or filed against it or any of their respective property or assets which renders any of them insolvent or impairs it or any of their ability to continue doing business and which has remained unvacated, unbonded or unstayed for a period of thirty (30) days.

     6.14 Inventory Collateral. Borrower has good and marketable legal title to and is the sole owner of the Inventory Collateral and the Inventory Collateral is not subject to any lien, security interest, charge or other claim or encumbrance of any Person other than Lender.

     6.15 Mortgaged Property. Each Mortgage constitutes and shall continue to constitute a valid and enforceable first Lien on the Mortgaged Property.

     6.16 Intentionally Omitted.

     6.17 Full Disclosure. No information, exhibit or written report or the content of any schedule furnished by or on behalf of Borrower or to Borrower’s actual knowledge, the Resort Manager, or the Club Manager to Lender in connection with the Receivables Loan, the Resort, the Club or the Collateral, and no representation or statement made by Borrower in any Loan Document, contains any material misstatement of fact or omits the statement of a material fact necessary to make the statement contained herein or therein not misleading. Borrower knows of no fact or condition which could prevent or delay the sale of Timeshare Interests to Purchasers or to the best of Borrower’s knowledge prevent or impede the operation of each of the Resorts in accordance with the Resort Documents or the Club in accordance with the Club Membership Documents or other disclosure documents, and in accordance with applicable law, or prevent Borrower’s performance of its Obligations pursuant to the Loan Documents, other than

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the fact that the completion of state timeshare registration requirements for a points-based use plan for the Club shall not be completed for 130-150 days after the Closing Date, and sales of Timeshare Interests may not be consummated until such registration requirements have been satisfied.

               (a) Use of Proceeds/Margin Stock. None of the proceeds of the Receivables Loan will be used to purchase or carry any “margin stock” (as defined under Regulation U of the Board of Governors of the Federal Reserve System, as in effect from time to time), and no portion of the proceeds of the Receivables Loan will be extended to others for the purpose of purchasing or carrying margin stock. None of the transactions contemplated in this Agreement (including, without limitation, the use of the proceeds from the Receivables Loan) will violate or result in the violation of Section 7 of the Securities Exchange Act of 1934, as amended, or any regulations issued pursuant thereto, including, without limitation, Regulations G, T, U and X of the Board of Governors of the Federal Reserve System, 12 C.F.R. Part 11. The proceeds of the Inventory Loan will be disbursed only for the payment of the Loan Costs and as set forth specifically in Sections 2.1 and 2.8 hereof.

     6.18 No Defaults. No Default or Event of Default exists, and there is no violation in any material respect of any term of any agreement, charter instrument, bylaw or other instrument to which Borrower is a party or by which Borrower may be bound.

     6.19 Change of Control. For so long as Borrower is obligated to Lender under any of the Inventory Loan Documents, there shall be no Change of Control.

     6.20 Legal Compliance.

               (a) Borrower is not in violation of any state timeshare registration act or any other statues, ordinances, rules or regulations in any other jurisdiction to which Borrower is subject; and

               (b) Borrower’s and Marketing and Sales Agent’s practices are in compliance with applicable state and federal laws, including without limitation, their lead generation techniques. None of Borrower or the DRC Affiliates has been contacted or notified of any Federal Trade Commission or any Department of Justice inquiry or investigation in connection with marketing and sale of timeshare interests.

     6.21 Restrictions of Borrower. Neither Borrower, the DRC Affiliates, the Resort Manager or the Club Manager is a party to any contract or agreement, or subject to any Lien, charge or corporate restriction, which could reasonably be expected to have a Material Adverse Effect. Borrower will not after the Closing Date, become a party to any contract or agreement which prohibits Borrower’s execution of, or compliance with the terms of, this Agreement or the other Loan Documents. Borrower has not agreed or consented to cause or permit in the future (upon the happening of a contingency or otherwise) any of the Receivables Collateral, whether now owned or hereafter acquired, to be subject to a Lien except in favor of Lender as provided hereunder.

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     6.22 Broker’s Fees. Lender and Borrower represent to each other that neither of them has made any commitment or taken any action which could result in a claim for any broker’s, finder’s or other similar fees or commissions with respect to any of the transactions contemplated by this Agreement. Borrower agrees to indemnify Lender and save and hold Lender harmless from and against all claims of any Person for any broker’s or finder’s fee, commission or similar amount, and this indemnity shall include reasonable attorneys’ fees and legal expenses.

     6.23 Deferred Compensation Plans. Borrower has no pension, profit sharing or other compensatory or similar plan (herein called a “Profit Sharing Plan”) providing for a program of deferred compensation for any employee or officer. No fact or situation, including but not limited to, any “Reportable Event,” as that term is defined in Section 4043 of the Employee Retirement Income Security Act of 1974 as the same may be amended from time to time (“Pension Reform Act”), exists or will exist in connection with any Plan of Borrower which might constitute grounds for termination of any Plan by the Pension Benefit Guaranty Corporation or cause the appointment by the appropriate United States District Court of a Trustee to administer any such Plan. No “Prohibited Transaction” within the meaning of Section 406 of the Pension Reform Act exists or will exist upon the execution and delivery of the Agreement or the performance by the parties hereto of their respective duties and obligations hereunder. Borrower will (a) at all times make prompt payment of contributions required to meet the minimum funding standards set forth in Sections 302 through 305 of the Pension Reform Act with respect to each of its Plans; (b) promptly, after the filing thereof, furnish to Lender copies of each annual report required to be filed pursuant to Section 103 of the Pension Reform Act in connection with each Plan for each Plan Year, including any certified financial statements or actuarial statements required pursuant to said Section 103; (c) notify Lender immediately of any fact, including, but not limited to, any Reportable Event arising in connection with any Plan which might constitute grounds for termination thereof by the Pension Benefit Guaranty Corporation or for the appointment by the appropriate United States District Court of a Trustee to administer the Plan; and (d) notify Lender of any “Prohibited Transaction,” as that term is defined in Section 406 of the Pension Reform Act. Borrower will not (a) engage in any Prohibited Transaction; or (b) terminate any such Plan in a manner which could result in the imposition of a Lien on any asset of Borrower pursuant, to Section 4068 of the Pension Reform Act.

     6.24 Labor Relations. The employees of Borrower are not parties to any collective bargaining agreement with Borrower, and, to the best of Borrower’s knowledge, there are no material grievances, disputes or controversies with any union or any other organization of Borrower’s or any of the DRC Affiliates’ employees, or threats of strikes, work stoppages or any asserted pending demands for collective bargaining by any union or organization.

     6.25 Representations as to Resorts and Mortgaged Property.

               (a) Applicable Resorts. To the best of Borrower’s knowledge, each of the Resorts has been established and dedicated and is and will remain, a

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timeshare plan and project in material compliance with all applicable laws and regulations, including without limitation, any applicable timeshare registration laws. To the best of Borrower’s knowledge, the Mortgaged Property, all Units, all improvements constructed or to be constructed thereon, the Common Elements, the Common Furnishings, the facilities and all related real and personal property have been and will continue to be duly submitted to the provisions of the Club Membership Plan or applicable Resort Plan, the Resort Documents and the Club Membership Documents, where applicable. Borrower will not vote to amend and will use commercially reasonable efforts to cause each applicable Association not to vote to terminate or amend the Club Membership Plan or applicable Resort Plan without the prior written consent of Lender. Lender acknowledges that Borrower will be providing Lender with amendments to the required Club Membership Documents and registrations to establish a points-based use plan for the Club.

               (b) Access. The Resort, the Units, the Common Elements, and the Mortgaged Property all have direct access to publicly dedicated roads. All roadways inside the each of the Resorts are private roads maintained by the applicable Association and such roads are subject to an access and use easement or other dedication or provision that benefits and will continue to benefit all Purchasers.

               (c) Utilities. Electric, gas, sanitary, and stormwater sewer, telephone, water facilities, and other necessary utilities are available and there is sufficient capacity to service the Resorts and all Units, Common Elements, and all Financed Improvements constructed on the Mortgaged Property. Any easements necessary to the furnishing of such utility services have been obtained, duly recorded and inure to the benefit of the Resorts, the Mortgaged Property, the applicable Association, and all Purchasers.

               (d) Amenities and Use Rights. Each Purchaser of a Timeshare Interest has and will continue to have access to and the full use and enjoyment of all of the Common Elements and public utilities of the Resorts, all in accordance with the applicable Resort Plan, Club Membership Plan and the other Resort Documents and Club Membership Documents. Any recreational or other commonly used facilities which are available for use by Purchasers or which may be made available in the future, regardless of whether they have been submitted to the applicable Resort Plan or Club Membership Plan, shall also be available for use by short-term renters, transient guests or users of accommodations which are part of the Mortgaged Property and such rights shall continue for the benefit of Lender and any such users in the event Lender or a successor or assign were to obtain title to all or a part of the Mortgaged Property.

               (e) Construction. All costs arising from the development and construction of the Resorts and Mortgaged Property, including all completed buildings, Units, Common Elements, and any Financed Improvements and the purchase of any Encumbered Personal Property have been paid or will be paid when due.

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               (f) Tangible Property. Except for specific items which may be owned by independent contractors, the machinery, equipment, fixtures, tools, and supplies used in connection with the Mortgaged Property, including, without limitation, with respect to the operations and maintenance of the Common Elements are owned or leased by Borrower and are free and clear of any Liens with the sole exception of all property subject to a lease.

               (g) Accommodations in Financed Improvements. All accommodations located therein are fully furnished and ready for use and occupancy by Purchasers. All fixtures and furnishings within Units or Financed Improvements in which Timeshare Interests have been sold have been fully paid for and are free and clear of any Liens or other interests of any third party, or are subject to leases which are not in default as of the Closing Date and the terms of which Borrower shall continue to comply with after the Closing Date.

               (h) Assessments. Each Purchaser is automatically a member of the applicable Association which has the authority to levy annual assessments to cover the costs of maintaining and operating the Resorts and the Club. Each Association is subsidized by the Borrower to the extent of Borrower’s subsidy guaranty, and currently levied assessments upon Purchasers (along with Borrower’s subsidy payment) will be adequate to cover the costs of maintaining and operating the each of the Resorts and the Club and to establish and maintain a reasonable reserve for deferred maintenance and capital improvements. Borrower is current with respect to the payment of all assessments and other amounts owed to the applicable Association. There are no events which currently exist or could reasonably be foreseen by Borrower which could give rise to a material increase in such costs. Borrower shall for so long as Borrower controls the Association and thereafter shall use commercially reasonable efforts to cause the Association to maintain the reserves described above. Except as otherwise provided by law, any Lien for delinquent assessments due with respect to any Unsold Timeshare Interest or Financed Timeshare Interests will be subject to the Lien of the Mortgage.

     6.26 Applicable Associations. To the best of Borrower’s knowledge, the applicable Association relating to each of the Resorts was duly organized and is validly existing. Resort Manager will manage each of the Resorts and perform services for each Association, pursuant to an agreement between the Resort Manager and the respective Association or a sub-management agreement between the Borrower and each Resort Manager, provided, however, that a to be formed Mexican subsidiary of Borrower shall enter into any contract for services relating to Acquired Assets located in Mexico. Borrower’s and Manager’s interests in all Management Agreements has been collaterally assigned to Lender pursuant to the Collateral Assignment of Management Agreements which has been consented to by the applicable Association and Manager.

     6.27 Insurance. The Resorts are each insured in the event of fire, earthquake where deemed necessary by the Borrower, or the Association, or other casualty for the full replacement value thereof, and in the event that the Resorts should suffer any loss

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covered by casualty or other insurance, upon receipt of any insurance proceeds, each Association is required, during the time such Resort is covered by such insurance, under the applicable governing instruments either to repair or rebuild the portions of the Resort. To the best of Borrower’s knowledge, the Association for the applicable Resort, if the Resort is located in a designated flood plain, maintains flood insurance.

     6.28 Representations as to Club and Club Loans. To the best of Borrower’s actual knowledge:

               (a) The Club is a non-profit corporation duly organized and validly existing in good standing under the laws of Arizona.

               (b) The Club has all requisite power and authority to own its properties, to conduct its business, to execute and deliver Club Membership Agreements and Club Membership Documents to Club Members.

               (c) The Club is the owner of all the Club Inventory free and clear of any liens or encumbrances subject only to (a) covenants, conditions and restrictions, rights of way, easements and other matters of public records, none of which, individually or in the aggregate, materially interferes with the current or intended use of Club Membership Interests by its members and (b) the Liens of the Lender.

               (d) The Club has not taken (or omitted to take), any action that would impair or invalidate the coverage provided by any hazard, title or other insurance policy relating to any of the Resorts.

               (e) There are no delinquent or unpaid taxes, ground rents, water charges, sewer rents, assessments outstanding with respect to any Club Resort, nor any other outstanding Liens or charges affecting any Club Resort that could reasonably be expected to have a Material Adverse Effect.

               (f) All Club Resorts (other than Rancho Manana, which was closed beginning in the 4^th quarter of 2008) are free of material damage and waste and are in good repair and fully operational. There is no proceeding pending or threatened for the total or partial condemnation of or affecting any Club Resort. All Club Resorts are lawfully used and occupied under applicable law by Club Members pursuant to their Club Membership Interests.

     6.29 Intentionally Omitted.

     6.30 Access and Amenities. Each Club Member who acquires a Club Membership Interest has and will forever continue so long as such Club Membership Interest is in effect to have the guaranteed, permanent, non-exclusive right to use and right of ingress and egress to all of the facilities and public utilities of any Club Resort, subject to the terms of the Club Membership Documents and the Resort Documents. Borrower shall ensure that each Member of the Club shall have the guaranteed, permanent non-exclusive right to use and right of ingress and egress to each Club

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Resort pursuant to each Club Resort’s Resort Documents and the Club Membership Documents. Borrower shall have non-disturbance agreements or similar agreements in place to provide assurances to Purchasers in good standing of Club Membership Interests and users and occupants of Units that their right to use any facilities (pursuant to the Resort Documents and Club Membership Documents) which are owned by the Club, the Borrower or any Association (including the facilities) is protected and assured.

     6.31 Units Ready for Use. To the best of Borrower’s knowledge, each Unit is fully furnished and ready for use and occupancy by Purchasers. To the best of Borrower’s knowledge, all common furnishings (including appliances) within Units in which Borrower has sold Club Membership Interests have been fully paid for and are free and clear of any Liens or other interests of any third party or are subject to leases which are not in default as of the Closing Date and the terms of which Borrower shall continue to comply with after the Closing Date.

     6.32 Reservation System. The Reservation System for the Club is fully operational for its intended purpose. Borrower represents that the Reservation System for the Club including the computer software has been conveyed by the applicable ILX Sellers and is owned by Borrower free and clear of any Liens, (other than Lender’s Lien and those relating to the leasing of equipment or software or licensing of software) that the Reservation System shall continue in operation and shall be available to the Club and that the Reservation System shall continually be operated to assure the ability of Club Members to exercise and use their Club Membership Interests. Borrower acknowledges the significance of the Reservation System to the ability of the Club Resorts and the Club to operate properly and allow Club Members to reserve assigned Units and exercise use rights in accordance with their Club Membership Agreement and the Club Membership Documents. Borrower agrees to prepare reports and provide information on the Reservation System promptly upon request from Lender. The Reservation System for the Resorts shall continue to be operational and available for use by Purchasers to assure the ability of Purchasers to reserve their assigned Units at their Resorts and exercise their use rights. The Reservation System at each of the Resorts is owned free and clear of liens by Borrower other than Lender’s Lien and those relating to the leasing of equipment or software or licensing of software.

     6.33 One to One Ratio. Borrower represents that it will only sell those Club Memberships described in the Eagle 9 UCC Policy provided by Title Company, and as evidenced by such policy, such sales will not violate the one-to-one purchaser-to-accommodation ratio required by Arizona law (“One to One Ratio”).

     6.34 Club Reports. To Borrower’s actual knowledge, Borrower has obtained from the ILX Sellers and shall continue to maintain at all times and upon request of Lender shall make available for inspection by Lender during normal business hours a complete listing of all Club Members in good standing of the Club, the fractional value of all Timeshare Interests and related Club Membership Shares purchased, whether the Club Membership Interest is annual or biennial, a current inventory status report of all

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accommodations and facilities which make up the Club, and a list of all upgrades by Club Members.

     6.35 Taxpayer Identification Numbers. Borrower’s federal taxpayer identification number is as follows:

     Borrower: 00-0000000

     6.36 Survival of Representations. The representations and warranties contained herein shall be and remain true and correct so long as any of the Obligations (other than contingent indemnification obligations to the extent no unsatisfied claim with respect thereto has been asserted) remains unpaid. All representations, warranties, covenants and agreements made herein or in any certificate or other document delivered to Lender by or on behalf of Borrower, pursuant to or in connection with this Agreement, shall be deemed to have been relied upon by Lender, notwithstanding any investigation heretofore or hereafter conducted by or on behalf of Lender and shall survive until the Inventory Loan is paid in full.

SECTION 7. AFFIRMATIVE COVENANTS.

     So long as any portion of the Obligations (other than contingent indemnification Obligations to the extent no unsatisfied claim with respect thereto has been asserted) remains unpaid. Borrower shall at all times be in full and timely compliance with all of the following covenants and perform all duties and obligations set forth below in a timely manner:

     7.1 Legal Requirements. To the extent within Borrower’s actual control, Borrower shall at all times insure that the Resorts, the Club and the Pledged Timeshare Loans are in compliance with all laws, rules and regulations of whatever nature applicable to the Borrower’s operation of the Resorts, the Club and its sale of Timeshare Interests therein including, without limitation, all such laws pertaining to timeshare sales and marketing activities, the providing of consumer credit to third parties, the manner in which real property transactions are closed, and all other laws and regulations that serve as a condition to or could reasonably be expected to have a Material Adverse Effect on the Receivables Collateral, the enforceability of the Pledged Timeshare Loans, the operation of the Resorts and the Club or the ability of Borrower to sell Timeshare Interests. The Borrower shall comply in all material respects with all applicable Legal Requirements of any Governmental Authority.

     7.2 Maintenance of Existence, Qualification and Assets. Borrower, the Resort Manager, the Club Manager and the DRC Affiliates shall (a) maintain their respective legal existence, and (b) maintain their qualification, where required, to transact business and good standing in the state of their respective formation and in any other jurisdiction where any of them conduct business in connection with the Resorts and the Club.

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     7.3 Consolidation and Merger. Unless Borrower shall have first obtained Lender’s prior written approval, which may be granted, withheld or conditioned in Lender’s sole discretion, Borrower will not consolidate with or merge into any other Person or permit any other Person to consolidate with or merge into it, with the exception of a consolidation with an Affiliate of Borrower.

     7.4 Maintenance of Insurance. Borrower shall use commercially reasonable efforts to cause each applicable Association to maintain, at all times during the term of this Receivables Loan, policies of insurance with premiums therefor being paid when due, and shall deliver to Lender certificates of insurance issued by insurance companies, in amounts, in form and in substance, and with expiration dates, all acceptable to Lender and containing waivers of subrogation rights by the insuring company, mortgagee loss payable endorsements in favor of and satisfactory to Lender and breach of warranty coverage, providing the following types of insurance on and with respect to Borrower (or, as appropriate, the Association) and the Resort:

               (a) As to all improvements that are completed as of the date hereof, “All Risk Special Form” insurance coverage (including fire, lightning, hurricane, tornado, wind and water damage, earthquake, vandalism and malicious mischief coverage) covering all real and personal property which comprise each of the Resorts, in an amount not less than the full replacement value of such improvements and personal property, and said policy of insurance shall provide for a deductible acceptable to Lender, breach of warranty coverage, replacement cost endorsements satisfactory to Lender, and shall not permit co-insurance. As to improvements under construction, builder’s risk insurance with extended coverage, in an amount and with a company satisfactory to Lender, and containing a provision allowing the insured to complete the work provided for hereunder and covering the building materials on real property during construction. Upon completion of all construction activities, such insurance shall convert to, or shall be replaced with, the above-described fire and extended coverage insurance covering the improvements, all other property of any nature used for the construction of the improvements and any personal property located in or on each of the Resorts, in an amount not less than the full replacement value of such Improvements and personal property, and said policy of insurance shall provide for a deductible acceptable to Lender, breach of warranty coverage, replacement cost endorsements satisfactory to Lender, shall not permit co-insurance, and with an endorsement which includes as a loss payable any additional interest expense caused by a peril insured against under the policy. Such coverage for interest expense is limited to the period of time from the date of physical damage until such time as will reasonably elapse, in the exercise of due diligence, to the repair of the damage to its prior state. All insurance shall specifically cover architect and engineering fees necessary to repair or replace any insured portion of the Resort and shall cover debris removal;

               (b) General liability and property damage insurance covering each of the Resorts in amounts and on terms satisfactory to Lender;

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               (c) Such other insurance on the Mortgaged Property or any replacements or substitutions therefor, including, without limitation, rent loss, business interruption, flood insurance in such amounts and upon such terms as may from time to time be reasonably required by Lender; and

          Lender shall expressly be named an additional insured and loss payee in each insurance policy described in this Section 7.4. To the extent any “institutional mortgagee,” “institutional lender” or “mortgagee” (as defined or used in the Resort Plan or Club Membership Plan) other than Lender has any rights to approve the form of insurance policies with respect to each of the Resorts, the amounts of coverage thereunder, the insurers under such policies or the designation of an attorney-in-fact for purposes of dealing with damage to any part of each of the Resorts or insurance claims or matters related thereto or any successor to such attorney-in-fact or any changes with respect to any of the foregoing, Borrower shall take all steps as may be necessary to ensure that Lender shall at all times have a co-equal right with such other “preferred mortgagee,” “institutional lender” or other “mortgagee” (including, without limitation, Borrower or any third-party lender), to approve all such matters and any proposed changes in respect thereof; and Borrower shall not cause and shall use commercially reasonable efforts to prohibit any changes with respect to any insurance policies, insurers, coverage, attorney-in-fact or insurance trustee, if any, without Lender’s prior written approval.

          In the event of any insured loss or claim in respect of all or any portion of the Resort, the Mortgaged Property, the Unsold Timeshare Interests or the Financed Timeshare Interests, Borrower shall use commercially reasonable efforts to cause the applicable Association to apply all proceeds of such insurance policies in a manner consistent with the Resort Documents, the Club Documents, the Timeshare Act and all other applicable statutes, ordinances, rules and regulations.

          All insurance policies required pursuant to this Agreement (or the Resort Documents or the Timeshare Act) shall provide that the coverage afforded thereby shall not expire or be amended, canceled, modified or terminated without at least thirty (30) days prior written notice to Lender and contain a provision affirming Lender’s rights and benefits thereunder despite any violation of the applicable policy terms by Borrower or any other Person. Borrower shall make a good faith inquiry on a regular basis to the Association to determine if the required insurance premiums covering the Collateral have been paid. If Borrower determines upon such inquiry or otherwise that the required insurance premiums have not been paid, Borrower shall immediately notify Lender of such failure to timely pay the required insurance premium and Borrower shall have thirty (30) days from receipt of a written request from Lender to cause the required insurance premiums to be paid. If the required insurance premiums are not paid within such thirty (30) day period, Lender may, in its sole discretion, without any obligation to do so, choose to pay such required insurance premiums on behalf of Borrower or the applicable Association, in which case Borrower shall pay Lender interest at the Default Rate for any amounts so advanced. Lender may also, in its sole discretion, in the event the required insurance premiums are not paid when due, establish an insurance escrow

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account from which Lender may make insurance payments on behalf of Borrower or the applicable Association when insurance premiums shall become due. If the required insurance premiums are not paid as required and Lender elects not to pay such insurance premiums or establish an escrow account for payment thereof, such failure shall constitute an Event of Default hereunder.

          In the event of any fire or other casualty to or with respect to all or any portion of the Mortgaged Property, Borrower covenants that it shall use commercially reasonable efforts to cause the applicable Association to promptly restore, repair or replace the damaged portion(s) of the Mortgaged Property and repair or replace any other personal property to the same condition as immediately prior to such fire or other casualty and, with respect to the real and personal property comprising the Mortgaged Property, in accordance with the terms of the Resort documents, the Timeshare Act and all other applicable statutes, ordinances, rules and regulations. The insufficiency of any net insurance proceeds shall in no way relieve Borrower or each Association of their respective obligations as set forth herein. Borrower covenants that it shall use commercially reasonable efforts to cause the applicable Association to comply promptly and cause compliance with the provisions of the Resort Plan and the other Resort documents and of the Timeshare Act and all other applicable statutes, ordinances, rules and regulations relating to such restoration, repair or replacement. In Lender’s sole discretion, all insurance proceeds payable to or received by Lender pursuant to the Resort Plan and other Resort documents or Club Membership Documents or the applicable insurance policies may be applied to the payment of the Obligations, whether or not due and in whatever order Lender elects, consistent with the terms of the applicable insurance policy and the Resort Plan.

          Borrower shall in good faith cooperate with Lender in obtaining for Lender the benefits of any insurance or other proceeds lawfully or equitably payable to Borrower or Lender in connection with the transactions contemplated hereby and in paying any Obligation (including the payment by Borrower of the expense of an independent appraisal on behalf of Lender in case of a fire or other casualty affecting the Resort). Notwithstanding anything to the contrary set forth in this Section 7.4, the types and amounts (including deductible) of insurance coverage reflected on the insurance certificates delivered by Borrower to Lender on the Closing Date are satisfactory to Lender.

     7.5 Maintenance of Security. Borrower shall execute and deliver (or cause to be executed and delivered) to Lender all security agreements, financing statements, assignments and such other agreements, documents, instruments and certificates, and all supplements and amendments thereto, and take such other actions, as Lender deems necessary or appropriate in order to maintain as valid, enforceable and perfected first priority liens (subject to Permitted Liens) and security interests, all Liens on and security interests in the Inventory Collateral granted to Lender to secure the Obligations. Borrower shall not grant extensions of time for the payment of, or compromise for less than the full face value or release in whole or in part, any Purchaser or other Person liable for the payment of, or allow any credit whatsoever

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except for the amount of cash to be paid upon, any Inventory Collateral or any Instrument, chattel paper or document representing the Inventory Collateral, without Lender’s prior written consent.

     7.6 Payment of Taxes and Claims. Except to the extent the same are being contested in good faith by appropriate proceedings diligently prosecuted which stay enforcement of any Lien with respect thereto and for which adequate reserves in accordance with GAAP are being maintained by Borrower, Borrower will pay, when due, all taxes imposed on or with respect to the Inventory Loan or any of the Inventory Loan Documents, the Inventory Collateral, or on or with respect to Borrower or any income, property or profits of Borrower and shall pay all other charges and assessments against Borrower or the Inventory Collateral, before any claim (including, without limitation, claims for labor, services, materials and supplies) arises for sums which have become due and payable. Except to the extent the same are being contested in good faith by appropriate proceedings diligently prosecuted which stay enforcement of any Lien with respect thereto and for which adequate reserves in accordance with GAAP are being maintained by Borrower, Borrower covenants that Borrower shall use commercially reasonable efforts to cause the applicable Association and/or the Club to pay, when due, all taxes imposed upon the Financed Timeshare Interests, the Mortgaged Property, each of the Resorts, the applicable Association, or any of their respective assets or with respect to any of their franchises, businesses, income or profits. Borrower shall make good faith inquiry on a regular basis to determine if the required taxes have been paid. Borrower shall immediately notify Lender in writing of any failure to timely pay all taxes due and payable by Borrower, any Association or the Club. In the event that Lender determines (through notice from Borrower or otherwise) that any taxes due and payable by Borrower have not been paid when due, Borrower shall have thirty (30) days from receipt of a written request for payment from Lender to pay the required taxes. If such required taxes (and any applicable late charges, etc.) are not paid within such thirty (30) day period, Lender may, in its sole discretion, without any obligation to do so, choose to pay such taxes on behalf of Borrower in which case Borrower shall pay Lender interest at the Default Rate for any sums so advanced. In the event Lender elects not to pay the required taxes due and payable by Borrower, such failure shall constitute an Event of Default hereunder, except to the extent the same are being contested in good faith by appropriate proceedings diligently prosecuted which stay enforcement of any Lien with respect thereto and for which adequate reserves in accordance with GAAP are being maintained by Borrower. Borrower shall pay, where applicable, or shall use commercially reasonable efforts to cause the applicable Association or the Club to pay all other charges and assessments levied against Borrower, the Inventory Collateral or the Resort before any claim (including, without limitation, claims for labor, services, materials and supplies) arises for amounts which have become due and payable. Except for the Liens in favor of Lender granted pursuant to the Inventory Loan Documents and other Permitted Liens, and except as otherwise specifically provided for herein, Borrower covenants that in the event that any statutory or other Liens whatsoever (including, without limitation, mechanics’, materialmen’s, judgment or tax liens) attach to any of the Inventory Collateral, Borrower shall, within thirty (30) days after any such Lien attaches, either (i) cause such Lien to be released of record; or (ii)

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provide Lender with a bond in accordance with the applicable laws of the state in which the Resort is located, issued by a corporate surety acceptable to Lender, in an amount and form acceptable to Lender.

     7.7 Inspections. No more than one (1) time per year except after the occurrence and during the continuation of an Event of Default, Borrower shall, (and shall use commercially reasonable efforts to cause the Club Manager with respect to the Club and the Resort Manager with respect to the Resorts) to at reasonable times and from time to time, upon reasonable notice and at the expense of Borrower, including but not limited to the travel expenses of Lender’s agents, permit Lender or its agents or representatives to inspect any of the Resorts, the Club Resorts, the Receivables Collateral, including but not limited to all documents, bank statements, and other records within Borrower’s possession, custody or control, and to examine and make copies of and abstracts from its and, to the extent it has access thereto or possession thereof and each Association’s, the Resort Manager’s, the Club’s and the Club Manager’s books, accounts, records, original correspondence, computer tapes, disks, software, and other papers as it may desire; and to discuss its affairs, finances and accounts with any of its officers, employees, Affiliates, contractors or independent certified public accountants (and by this provision, Borrower authorizes said accountants to discuss with Lender, its agents or representatives, the affairs, finances and accounts of Borrower). Lender agrees to use commercially reasonable efforts not to unreasonably interfere with Borrower’s business operations in connection with any such inspections. Representatives of Borrower and Lender shall meet on at least a quarterly basis (and more frequently if requested by Lender) in person or by teleconference and Borrower shall reimburse Lender for the reasonable and documented costs of such meetings or such inspections.

     7.8 Reporting Requirements. Borrower shall furnish (or cause to be furnished, as the case may be) to Lender, in each case certified in writing by Borrower as true and correct, the following:

               (a) Monthly Financial Reports. As soon as available and in any event within ten (10) days after the end of each calendar month, a report showing (i) the trial balance of the Pledged Timeshare Loans; (ii) a current aging and delinquency report on the Pledged Timeshare Loans; (iii) a report detailing the collections on each of the Pledged Timeshare Loans; (iv) a borrowing base report; (v) monthly reports from the Lockbox Agent required pursuant to the Lockbox Agreement; and (vi) monthly reports from the Servicer required pursuant to the Servicing Agreement (including a list of all upgrades for the subject month); (vii) monthly reports from the Custodian pursuant to the Custodial Agreement; (viii) monthly reports from Borrower of the funds into and out of the lockbox account for each month, and (ix) such other monthly reports and other information as shall be reasonably requested by Lender;

               (b) Quarterly Financial Reports. As soon as available and in any event within forty-five (45) days following the end of each calendar quarter, unaudited statements of income and expense of Borrower and Parent for the quarterly

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period in question and balance sheets of Borrower as of the last day of such calendar quarter, all in such detail and scope as may be reasonably required by Lender, prepared in accordance with GAAP (subject to normal year-end adjustments and the absence of footnote disclosure) and on a basis consistent with prior accounting periods and certified as true and correct by Borrower’s and Parent’s Chief Financial Officer in such Person’s representational capacity;

               (c) Annual Financial Reports. As soon as available and in any event within ninety (90) days after the end of each of calendar year or other fiscal year as may be applicable with respect to Borrower, each Association and Parent (a “Fiscal Year”), statements of income and expense of Borrower, each Association and Parent for the annual period ended as of the end of such Fiscal Year, and balance sheets of Borrower, each Association and Parent as of the end of such Fiscal Year, all in such detail and scope as may be reasonably required by Lender and prepared and audited by an independent certified public accounting firm acceptable to Lender (Lender hereby acknowledges that BDO Xxxxxxx is currently acceptable to Lender) in accordance with GAAP and on a basis consistent with prior accounting periods. Each annual financial statement of Borrower and Parent and each of the Associations shall be certified by the Chief Financial Officer of Parent and the Treasurer of each of the Associations, in each case in such person’s representational capacity to be true, correct and complete. Notwithstanding the foregoing, Borrower shall provide the requested annual financial reports of each Association during the time Borrower controls the Board of Directors of each such Association. Subsequent to relinquishing control of the Board of Directors of any Association, Borrower shall use reasonable commercial efforts to cause each such Association where it no longer controls the Board of Directors to provide the foregoing financial reports;

               (d) Officer’s Certificate. Each set of annual Financial Statements or reports delivered to the Lender pursuant to Sections 7.8(b) and (c) of this Agreement shall be accompanied by a certificate of the Chief Financial Officer of Borrower and Parent, setting forth that the respective signers have reviewed the relevant terms of this Agreement (and all other agreements and exhibits between the relevant parties), have made, or caused to be made, under their supervision, a review of the transactions and conditions of Borrower and Parent from the beginning of the period covered by the Financial Statements or reports being delivered therewith to the date of the certificate and that such review has not disclosed the existence during such period of any condition or event which constitutes a Default or Event of Default or, if any such condition or event existed or exists or will exist, specifying the nature and period of existence thereof and what action Borrower or Parent has taken or proposes to take with respect thereto;

               (e) Sales Reports. Within fifteen (15) days after the end of each month and within ninety (90) days after the end of each Fiscal Year, Borrower shall deliver to Lender, monthly and annually, as appropriate, a monthly or annual sales report, detailing the sales of all Timeshare Interests (including the sale of Club Membership Interests and all upgrades) for the period covered thereby, together with all

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Timeshare Interest sales (including the sale of Club Membership Interests) made by Borrower which have been canceled during such period. Such reports shall indicate the number of Unsold Timeshare Interests (including unsold Club Membership Interests) that remain subject to the Lender’s Mortgage and the number of Timeshare Interests for which Release Payments (and the amount of the Release Payments made) during such period and during the term of the Receivables Loan and Inventory Loan. Such monthly reports and annual reports shall be certified by the Chief Financial Officer of Borrower in such Person’s representational capacity to be true, correct and complete and otherwise in a form approved by Lender;

               (f) Budget. Borrower agrees to submit annually to Lender, within thirty (30) days after it is available, the annual maintenance and operating budget of each Association and the Club, certified by the Club Manager. Should Borrower not control the Board of Directors of the Club or any Association, Borrower shall use reasonable commercial efforts to cause any such Association and the Club to provide Lender with any annual maintenance and operating budget for an Association or the Club;

               (g) Club Inventory Reports and Maintenance of One to One Ratio. Within fifteen (15) days after the end of each month beginning at the end of December, 2010 and within ninety (90) days after the end of each Fiscal Year, Borrower shall deliver to Lender a report certified to be true and correct which details the Club Inventory which makes up the Club and the Club Membership Interests of Members in good standing and available for use on an annual basis so that a determination may be made that the Club is not oversold and there are sufficient completed and furnished accommodations in the Club to balance sale and use of sold Club Membership Interests owned by Members and to maintain the One to One Ratio; no Club Inventory may be annexed to or de-annexed from the Club without Lender’s prior written consent, except that Lender hereby consents to the annexation of all Resort Interests (stand-alone fee simple timeshare interests) acquired by Borrower under the Asset Purchase Agreement that may be annexed into the Club by Borrower without the need for any further consent by Lender thereto;

               (h) Audit Reports. Promptly upon receipt thereof, one (1) copy of each other report submitted to Borrower or Parent by independent public accountants or other Persons in connection with any annual, interim or special audit made by them of the books of Borrower or Parent;

               (i) Notice of Default or Event of Default. Within five (5) days after becoming aware of the existence of any condition or event which constitutes a Default or an Event of Default, a written notice specifying the nature and period of existence thereof and what action the Borrower is taking or proposes to take with respect thereto;

               (j) Notice of Claimed Default. Within five (5) days after becoming aware that the holder of any material obligation or of any evidence of material

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indebtedness of Borrower has given notice or taken any other action with respect to a claimed default or event of default thereunder, a written notice specifying the notice given or action taken by such holder and the nature of the claimed default or event of default and what action Borrower is taking or proposes to take with respect thereto;

               (k) Material Adverse Developments. Within five (5) days after becoming aware of any claim, action, proceeding, development or other information which could reasonably be expected to have a Material Adverse Effect, the Borrower shall provide Lender with notice thereof, specifying the nature of such development or information and the anticipated effect thereof;

               (l) Hazardous Materials. Borrower shall promptly notify Lender of any material change of which it has actual knowledge in the nature or extent of any Hazardous Materials maintained on, or under any of the Mortgaged Property or used in connection therewith, and will deliver to Lender copies of any citation, orders, notices or other material governmental or other communication received with respect to any other Hazardous Materials, or other environmentally regulated substances affecting any Mortgaged Property. Upon becoming aware of the possible existence of Hazardous Materials affecting any of the Mortgaged Property, Lender shall have the right to require Borrower to periodically perform an environmental audit and, if deemed reasonably necessary by Lender, an environmental risk assessment, each of which must be satisfactory to Lender, in its sole discretion with respect to any Resort. Such audit and/or risk assessment must be conducted by a licensed environmental consultant. Lender shall pay the expenses of such audit unless an Event of Default has occurred and is continuing in which case Borrower shall pay any reasonable and documented costs and expenses incurred by Lender in the exercise of such rights upon notice from Lender or such amounts expended by Lender shall bear interest at the Default Rate.

               (m) State Registrations. Borrower agrees to promptly notify Lender if there is a change in any state timeshare registrations (which add or delete states) during the term of the Inventory Loan.

               (n) Pricing. Borrower shall promptly notify Lender of any material change in the retail pricing of Club Membership Interests and notify Lender of any increase on or decrease in pricing.

               (o) Exchange Companies. Borrower shall promptly notify Lender if the affiliation of the Club or any of the resorts with RCI or Interval International is terminated or suspended.

               (p) Cessation of Sales Business. Borrower shall provide prompt notice to Lender of any cessation of marketing or sales at any Resorts or locations, formerly owned or leased by any of the ILX Sellers or of a material part of Borrower’s business.

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               (q) Upgrades. Borrower hereby agrees as part of the monthly servicing report provided to Lender to reference an upgrade sale of a Timeshare Interest that has occurred in the subject month and Borrower as a result of such upgrade shall pay down the principal balance and accrued and unpaid interest due from the obligor under the existing Pledged Timeshare Loan.

     7.9 Intentionally Omitted.

     7.10 Books and Records. The Borrower shall keep adequate records and books of account adequate to permit the preparation of financial statements in conformity with (i) GAAP, and (ii) all applicable requirements of any Governmental Authority having jurisdiction over Borrower or its businesses.

     7.11 Intentionally Omitted.

     7.12 Marketing and Management and Construction. Borrower and Marketing and Sales Agent are engaged in the active marketing and sale of Resort Interests at the Resort and Club Membership Interests at the Club. Borrower shall cause the applicable Association to keep the Resort Manager and the Club Manager, respectively, engaged in management of the Resort and the Club so that each of these companies continues to perform duties substantially similar to those presently performed, as provided in the Sales and Marketing Agreement and Management Agreements relating to the Resort and the Club. In the event of the resignation or termination of any of the respective entities referenced herein, Borrower, shall use commercially reasonable efforts to cause the applicable Association, and/or the Club within three (3) months after the date of any such event, to cause to be engaged as Resort Manager and/or Club Manager respectively, a Person or Persons who have substantially equivalent experience, background and demonstrated ability to perform services, in accordance with new marketing, management and construction agreements, respectively, performed subsequent to the Closing Date by the above-referenced companies. Lender shall provide Borrower with its prior written consent to any change in the above-referenced entities.

     7.13 Intentionally Omitted.

     7.14 Contracts. Subject to the rights of the applicable Association and the Club as set forth in the Resort Documents and Club Membership Documents, no Contract in excess of $100,000 per year to which Borrower or any of the DRC Affiliates (in connection with this Agreement or the Inventory Loan Agreement) is a party or as to which Borrower’s or any of the DRC Affiliates’ consent or joinder is required, shall be materially modified, extended, terminated or entered into, without the prior written approval of Lender.

     7.15 Notices. Borrower shall notify Lender within ten (10) Business Days of the occurrence of any event (i) as a result of which any representation or warranty of Borrower contained in any Inventory Loan Documents would be incorrect or materially

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misleading if made at that time; or (ii) as a result of which Borrower is not in full compliance with all of its covenants and agreements contained in this Agreement or any Inventory Loan Document; or (iii) which constitutes or, with the passage of time, notice or a determination by Lender would constitute, an Event of Default.

     7.16 Maintenance. Borrower shall use commercially reasonable efforts to cause the applicable Association to maintain each of the Resorts in good repair, working order and condition (ordinary wear and tear and accident casualty excepted) and to make all necessary replacements and improvements to each of the Resorts so that the value and operating efficiency of the Resort will be maintained at all times and so that the Resort remains in compliance in all respects with the Timeshare Act, the Resort Documents, the Club Documents and all other applicable statutes, ordinances, rules and regulations.

     7.17 Claims. Borrower shall or shall use commercially reasonable efforts to cause the Association and/or the Club to promptly notify Lender of any material claim, action or proceeding affecting each applicable Resort, the Club or the Inventory Collateral, or any part thereof, or any of the security interests or rights granted in favor of Lender hereunder or under any of the other Inventory Loan Documents. At the request of Lender, Borrower shall appear in and defend in favor of Lender, at Borrower’s sole expense, with regard to any such claim, action or proceeding which could reasonably be expected to have a Material Adverse Effect.

     7.18 Registration and Regulations.

               (a) Local Legal Compliance. Borrower will comply, with all applicable servitudes, restrictive covenants, all applicable planning, zoning and land use ordinances and building codes, all applicable health and Environmental Laws and regulations, and all other applicable statutes, ordinances, rules, regulations, court orders, agreements and arrangements. To the best of Borrower’s knowledge, the use or occupancy of all such buildings, improvements and amenities for their respective intended purposes are lawful under all applicable statutes, ordinances, rules, and regulations; and

               (b) Registration Compliance. Borrower shall at all times maintain or cause to be maintained all necessary registrations, current filings, consents, franchises, approvals, and exemption certificates, and Borrower will make or pay, or cause to be made or paid, all registrations or fees with the applicable Government Authority and any other applicable regulatory authorities and any other governmental agencies or departments thereof, whether in Arizona or another jurisdiction, required in connection with the Mortgaged Property and the occupancy, use and operation thereof, the incorporation of Units into the timeshare plan established pursuant to the applicable Resort Documents and Club Documents, and the sale, advertising, marketing, and offering for sale of Timeshare Interests. All such registrations, filings and reports will be truthfully completed, and true and complete copies of such registrations, applications, consents, licenses, permits, franchises, approvals, exemption certificates, filings and reports will be delivered to the Lender upon request.

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     7.19 Intentionally Omitted.

     7.20 Other Documents. Subject to Section 4.23 above, Borrower will maintain or cause to be maintained to the satisfaction of Lender, and make available to Lender, accurate and complete files relating to the Mortgaged Property and the Inventory Collateral.

     7.21 Further Assurances. Borrower will execute and deliver, or cause to be executed and delivered, such other and further agreements, documents, instruments, certificates and assurances as, in the judgment of Lender exercised in good faith, may be necessary or appropriate to more effectively evidence or secure, and to ensure the performance of, the Obligations or as may be necessary to carry out more effectively the purposes of this Agreement or the Inventory Loan Documents. In addition, Borrower shall deliver to Lender from time to time, upon reasonable request by Lender, such documents, instruments and other matters or items as Lender may reasonably require to evidence Borrower’s compliance with the covenants set forth in this Section 7.

     7.22 Utilities. Borrower shall use commercially reasonable efforts to cause the applicable Association, to cause, electric, gas, cable television, sanitary and stormwater sewer, water facilities, drainage facilities, solid waste disposal, telephone and other necessary utilities to be available to each Resort in sufficient capacity to service each Resort, including all phases, units, common areas, common furnishings and facilities.

     7.23 Amenities. To the extent within Borrower’s actual control, Borrower shall cause or shall use commercially reasonable efforts to cause the Club or Association to permit each Purchaser of a Financed Timeshare Interests to have continuing access to, and the use of during the period of any occupancy of the Units, all of the common areas, common furnishings, facilities, and related or appurtenant services, rights and benefits, all as provided in the applicable Resort Documents and the Club Membership Documents.

     7.24 Expenses and Closing Fees. Borrower shall pay all reasonable and documented expenses of Lender relating to negotiating, preparing, documenting, closing, performing and enforcing this Agreement and the other Inventory Loan Documents, including, but not limited to:

               (a) the cost of preparing, reproducing and binding this Agreement, the other Loan Documents and all exhibits and schedules thereto;

               (b) the fees and disbursements of Lender’s and Borrower’s counsel;

               (c) Lender’s out-of-pocket expenses;

               (d) all fees and expenses (including fees and expenses of Lender’s counsel) relating to any amendments, waivers, consents or subsequent closings or other transactions pursuant to the provisions hereof;

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               (e) all costs, outlays, legal fees and expenses of every kind and character had or incurred in: (A) the interpretation or enforcement of any of the provisions of, or the creation, preservation or exercise of rights and remedies under, any of the Inventory Loan Documents including the costs of appeal; (B) the preparation for, negotiations regarding, consultations concerning, or the defense or prosecution of legal proceedings involving any claim or claims made or, to the best of Borrower’s knowledge, threatened against the Lender arising out of this transaction or the protection of the Inventory Collateral securing the Inventory Loan, expressly including, without limitation, the defense by Lender of any legal proceedings instituted or, to the best of Borrower’s knowledge, threatened by any Person to seek to recover or set aside any payment or set off theretofore received or applied by the Lender with respect to the Obligations, and any and all appeals thereof; and (C) the advancement of any expenses provided for under any of the Inventory Loan Documents;

               (f) all fees and expenses of the Lockbox Agent, Servicer, Custodian, Back-Up Servicer, Title Insurance Company or any other escrow agent or custodian and their respective counsel;

               (g) all fees and expenses of Lender’s consultants or other professionals and their respective counsel;

               (h) all costs and expenses incurred by Lender under the Inventory Loan Promissory Note, and all late charges payable under the Inventory Loan Promissory Note; and

               (i) to the extent not paid by the applicable Association, all real and personal property taxes and assessments, documentary stamp and intangible taxes, sales taxes, recording fees, title insurance premiums and other title charges, document copying, transmittal and binding costs, appraisal fees, lien and judgment search costs, fees of architects, engineers, environmental consultants, surveyors and any special consultants, construction inspection fees, brokers fees, escrow fees, wire transfer fees, and all travel and out-of-pocket expenses of Lender to conduct inspections or audits. Without limiting any of the foregoing, Borrower shall pay the costs of UCC and other searches, UCC and other Inventory Loan Document recording and filing fees and applicable taxes and premiums on each Title Policy delivered to Lender pursuant to this Agreement.

     7.25 Other Reports and Tax Returns. Borrower will promptly deliver to Lender any other information related to the Receivables Loan, the Receivables Collateral, the Resorts, the Club, the applicable Association, Sales and Marketing Agent, Manager, the Association, DRC Affiliates, or Borrower, as Lender may in good faith request including, without limitation, annually, federal call reports relating to Lockbox Agent, if any. Borrower agrees to provide Lender with copies of filed tax returns and tax statements and evidence of payment of all taxes on the Receivables Collateral or for Borrower or Parent.

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     7.26 Intentionally Omitted.

     7.27 Association and Club Reports. Borrower shall, and shall use commercially reasonable efforts to cause each applicable Association and the Club to keep adequate records and books of account in accordance with GAAP reflecting all financial transactions of Borrower with respect to the Resorts and the Club.

     7.28 Intentionally Omitted.

     7.29 Amounts Due to Association. To the extent required by the APA, Borrower shall use commercially reasonable efforts to cause the ILX Sellers (on the Closing Date only), the Club and each applicable Association to deliver a statement to Lender on the Closing Date and at the end of each calendar year, commencing in the present calendar year and continuing throughout the term of the Receivables Loan, indicating that no amounts are due and payable to any Association or the Club from Borrower or any Affiliate of Borrower and that all taxes and insurance premiums payable by each Association have been paid when due. In the event that any amount is due and owing to any Association or the Club, by the Borrower, and Borrower fails to pay such amount in a timely manner, then such amount may be paid directly to the appropriate party by Lender in its sole discretion and Borrower shall pay interest on such amount at the Default Rate. Borrower hereby covenants that as of the date of this Agreement, no amounts are due and payable to any Association or the Club from Borrower or any Affiliate of Borrower as of the Closing Date.

     7.30 Intentionally Omitted.

     7.31 Intentionally Omitted.

     7.32 Compliance with Legal Requirements. Borrower shall (a) maintain a system reasonably designed and operated to detect and deter material violations of state and federal timeshare sales practice regulations and (b) promptly notify Lender of any material regulatory inquiry or action.

     7.33 Intentionally Omitted.

     7.34 Sales and Marketing. Subject to state timeshare registration requirements, Borrower or Marketing and Sales Agent shall at all times maintain an active sales and marketing program for the sale of Timeshare Interests at the Resorts and the other locations acquired from the ILX Sellers.

     7.35 Pricing. Borrower shall not, without Lender’s prior written consent which shall not be unreasonably withheld, adjust the retail pricing schedule for Timeshare Interests such that the price adjustment would have a Material Adverse Effect.

     7.36 Exchange Companies. Borrower agrees that the Club and the Resorts shall at all times be affiliated with either Interval International (“II”) and/or RCI. The Resorts are presently affiliated with II with the sole exception of Roundhouse which is presently

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affiliated with RCI. Borrower agrees to pay II or RCI, as applicable, any and all fees accruing from and after the Closing Date which are properly assessed in connection with Borrower’s or the Resort’s affiliation therewith. Borrower shall continue to sell memberships in II and RCI (for Roundhouse) to Purchasers of Timeshare Interests during the term of the Receivables Loan and the Inventory Loan.

     7.37 Origination, Servicing and Collection Practices. The origination, servicing and collection practices used by Borrower and the applicable DRC Affiliates with respect to each Club Loan shall be in all respects, legal, proper, usual and customary and in accordance with the credit and collection policies of similar developers in the timeshare industry.

     7.38 Remarketing of Defaulted Pledged Timeshare Loans. Borrower agrees to re-market all Timeshare Interests related to defaulted Pledged Timeshare Loans for Lender in a timely manner and to pay Lender a Release Payment upon the sale of any such re-marketed Timeshare Interest.

     7.39 Affiliation Agreement With The Diamond Vacation Club. Borrower agrees to cause the Club to enter into the Affiliation Agreement acceptable to Lender with the Diamond Vacation Club within one hundred and eighty (180) days of the Closing Date (or such later date as shall be approved by Lender). Lender’s acceptance of the Affiliation Agreement shall not be unreasonably withheld. Borrower acknowledges that Lender desires to enhance the choice of accommodations available to Club Members and that the ability of such Club Members to take advantage of the experiences and a limited selection of the accommodations which make up the Diamond Vacation Club is an important benefit which Lender desires Borrower to make available to existing Club Members. Through the Affiliation Agreement or by converting the Club Members to members of the Diamond Vacation Club, Borrower agrees that existing Club Members and existing and future Purchasers of Timeshare Interests will not be required to pay any upfront conversion fee if and when they elect to convert their Club Membership Interest to become a member of the Diamond Vacation Club for at least a six (6) month period subsequent to the Closing Date. Any converted Club Member will have access to all Club Resorts as well as a limited selection of the resorts that make up the Diamond Vacation Club.

     7.40 Sale and Marketing of Club Membership Interests From ILX Sellers’ Former Locations and Resorts. Borrower agrees that unless and until the Inventory Loan and the Receivables Loan are paid in full, Borrower, Marketing and Sales Agent and any of the DRC Affiliates will only sell Club Membership Interests and Resort Interests acquired by Borrower pursuant to the Section 363 Sale and Sale Order or Club Membership Interests or Resort Interests related to Pledged Timeshare Loans, the title to which or the use rights for which have been taken back by Borrower at sales offices or Resorts formerly owned or leased by any of the ILX Sellers, and no sales or marketing of any product (timeshare, club membership, fractional, condominium, destination club, etc.) not acquired by Borrower from the ILX Sellers pursuant to the Section 363 Sale and Sale Order will occur or be conducted by any Person at any sales

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offices or Resorts formerly owned or leased by any of the ILX Sellers and acquired by Borrower pursuant to the Section 363 Sale and Sale Order unless and until the Receivables Loan and Inventory Loan are paid in full. Borrower shall have the right but not the obligation to sell Club Membership Interests and Resort Interests at sales locations other than the ILX Sellers’ former locations and shall notify Lender accordingly.

     7.41 Encumbering Timeshare Interests and Club Inventory. Borrower and Lender agree that lender’s applicable Mortgage is intended to create a first priority Lien on all Club Inventory deeded to the Club as of the Closing Date and in the future by Borrower or any of the DRC Affiliates. Borrower shall provide a current listing to Lender by the 15^th day of January and July of each year of all Club Inventory owned by the Club and subject to Lender’s applicable Mortgage. Lender may in its sole discretion amend the applicable Mortgage to specifically encumber all Club Inventory owned by the Club or annexed subsequent to the date hereof but is under no obligation to do so long as the Mortgage contains an after acquired property provision.

     7.42 Voting Rights. Borrower hereby appoints and constitutes Lender as its attorney-in-fact (with full power of substitution) to exercise all of its voting rights pertaining to the Club Membership Plan and each Resort Plan as well as pertaining to any Pledged Timeshare Loans or Mortgaged Property, or Club Membership Plan and each Resort Plan in which Borrower has an interest giving rise to the right to vote. This power of attorney is coupled with an interest and shall be irrevocable for so long as any Obligations are owing by Borrower to Lender. This power of attorney may be used from time to time in the sole discretion of Lender if any Event of Default has occurred and is continuing and in accordance with the terms of the Club Membership Plan and each Resort Plan. Borrower agrees to execute, from time to time, such other documents as Lender may request including, without limitation, a proxy in form and substance approved by Lender (which proxy shall, at the request of Lender, be periodically renewed) in its discretion and file the same with the Secretary of each Association and the Club in accordance with the Association’s and Club’s By-Laws and with the appropriate office under the Club Membership Plan and each Resort Plan.

          Following the occurrence and during the continuation of any Event of Default, if any voting rights pertaining to any Pledged Timeshare Loans or Mortgaged Property owned by Borrower or in which Borrower has an interest giving rise to the right to vote (whether as declarant, as a holder of a mortgage or security interest or otherwise) shall be exercisable pursuant to the attendance by Borrower at a meeting of the Members of the Association or Club in accordance with the terms of the By-Laws of the Association and the Club, Club Membership Plan and Resort Plan. Borrower agrees to exercise its right to vote in respect of such attendance in accordance with the rights of Lender under the first paragraph of this Section 7.42 as if the proxy referred to therein were directly applicable to such meeting (any provision in said By-Laws, Club Membership Plan or Resort Plan to the contrary notwithstanding) and to promptly give Lender written notice of its intention to attend any such meeting if Lender shall then be entitled to exercise the voting rights in respect thereof.

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          Except with the prior written consent of Lender, Borrower shall not propose or vote for or consent to any modification of, or amendment to, the Club Membership Plan or any Resort Plan or Association’s Articles of Incorporation or By-Laws (after such declaration, Articles of Incorporation or By-Laws have been recorded, filed and adopted, respectively) which could reasonably be expected in the sole opinion of Lender to have a Material Adverse Effect. In each case under the Club Membership Plan or any Resort Plan and/or the Association’s or Club’s Articles of Incorporation or By-Laws in which the consent or the vote of a holder of a mortgage or “security interest” in respect of the Pledged Timeshare Loan or Mortgaged Property (including any such case in which Borrower would be considered to fee a holder of a mortgage or lien is provided for or is required, or in which Borrower’s consent is required (as declarant or as an owner of a Pledged Timeshare Loan or Mortgaged Property or as a vendor or mortgagee or otherwise) for any proposed action, Borrower shall not vote or give such consent without obtaining the prior written consent of Lender if such action could reasonably be expected in the opinion of Lender to have a Material Adverse Effect.

SECTION 8. NEGATIVE COVENANTS.

     So long as any portion of the Obligations (other than contingent indemnification Obligations to the extent no unsatisfied claim with respect thereto has been asserted) remains unpaid, Borrower hereby covenants and agrees with Lender as follows:

     8.1 Restrictions on Financing. Without the prior written consent of Lender, which may be granted, withheld or conditioned, in Lender’s sole discretion, Borrower will not obtain financing or grant liens with respect to the Mortgaged Property other than those Liens in favor of Lender. Further, without consent of Lender, which shall not be unreasonably withheld, Borrower will not obtain financing or grant liens with respect to the Club, Inventory Collateral or other accounts receivable (whether now existing or created hereafter) other than those Liens in favor of Lender.

     8.2 Restrictions on Transfers. Borrower shall not, without obtaining the prior written consent of Lender (which consent may be given, withheld or conditioned by Lender, in Lender’s sole discretion), whether voluntarily or involuntarily, by operation of law or otherwise: (i) transfer, sell, pledge, convey, hypothecate, factor or assign all or any portion of the Club, the Resorts, the Mortgaged Property or the Inventory Collateral, or contract to do any of the foregoing, including, without limitation, pursuant to options to purchase and so-called “installment sales contracts,” “land contracts,” or “contracts for deed” (except that Borrower shall have the right to sell Timeshare Interests to Purchasers in arms-length transactions in the ordinary course of Borrower’s business and finance those sales with a third party lender and to convey all Resort Interests owned by Borrower to the Club subject to Lender’s Lien thereon); (ii) lease or license any portion of the Inventory Collateral, or change the legal or actual possession or use thereof (except rental of Timeshare Interests in the ordinary course of Borrower’s business); (iii) permit the dilution, transfer, pledge, hypothecation or encumbrance of any of the ownership interests of Borrower which would result in a Change of Control; (iv) permit the assignment, transfer, delegation, change, modification or diminution of

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the duties or responsibilities of Borrower under the Agreement and any Inventory Loan Documents; or (v) permit the Club (during the time Borrower controls a majority of the Club’s Board of Directors and use reasonable commercial efforts thereafter) to encumber, transfer, pledge, hypothecate, convey, assign, mortgage or sell any Club Inventory to Borrower or any Person except that Borrower shall retain its rights under the Club Membership Plan to deannex Club Inventory in accordance with the provisions of the Club Membership Plan. Under this Agreement or any other Inventory Loan Documents, without limiting the generality of the preceding sentence, and subject to the terms of this Agreement, the prior written consent of Lender shall be required for (A) any transfer of the Inventory Collateral or any part thereof (except with respect to the sale of Timeshare Interests to Purchasers in arms length transactions in the ordinary course of business) made to a subsidiary or other Affiliate of Borrower or otherwise; (B) any transfer of all or any part of the Inventory Collateral by Borrower to its Affiliates or vice versa; and (C) any corporate merger or consolidation, disposition or other reorganization with the exception of a consolidation with an Affiliate of Borrower.

     8.3 Use of Lender’s Name. Without Lender’s prior written consent, Borrower shall not at any times during the term of the Inventory Loan be permitted to use the name of Lender or the name of any Affiliate of Lender in connection with any of Borrower’s businesses or activities. If Borrower needs to use Lender’s name, it shall submit to Lender for its approval the proposed use with sufficient lead time for Lender to review the proposed use.

     8.4 Timeshare Regime. Without Lender’s prior written consent, Borrower shall not amend, modify or terminate any Club Membership Plan, Resort Plan, or any other restrictive covenants, agreements or easements regarding the Inventory Collateral in any manner nor shall Borrower assign its rights as “developer” or “declarant”, if any, under the any Club Membership Plan, or any Resort Plan or file or permit to be filed any additional covenants, conditions, easements or restrictions against or affecting any of the Resorts (or any portion thereof) or the Club, except to Lender, without Lender’s prior written consent. Borrower may amend any non-recorded Resort Documents so long as such amendments or modification shall not have a Material Adverse Effect on the Inventory Collateral, the Club, any Resort or the ability of Borrower to sell Timeshare Interests. Lender acknowledges that Borrower intends to establish a points-based use plan for the Club and may establish other benefits associated with the Club and will amend the Club Membership Plan and registrations to this effect. Lender’s prior written consent to Borrower’s amending the Club Membership Plan to establish a points-based use plan for the Club will not be unreasonably withheld.

     8.5 Name Change. Borrower shall not change its name, its chief executive office or the locations at which it does business without first providing at least thirty (30) days prior notice to Lender and amending any recorded or filed documents which require amendment as a result thereof at Borrower’s expense.

     8.6 Inventory Collateral; No Modifications. Borrower shall not take any action (or permit or consent to the taking of any action) which could reasonably be expected to

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have a Material Adverse Effect on the value of all or any portion of the Inventory Collateral or any of the rights of Lender with respect to the Inventory Collateral, nor shall Borrower cause or permit (to the extent within Borrower’s actual control and in compliance with law) any amendment to or modification of the form or any existing terms of any of the Purchase Agreements, Resort Documents or any Club Membership Documents, without Lender’s prior written consent thereto.

     8.7 Intentionally Omitted.

     8.8 Use of Resorts or Club. Borrower shall not change the nature, configuration, location or other features of the Club or any Resorts, in any manner that is inconsistent in any material and adverse respect with any written representation or promise for which Borrower has actual knowledge made to a Purchaser of a Timeshare Interest related to a Pledged Timeshare Loan hereunder.

     8.9 Method of Accounting. Borrower shall not change its method of accounting unless such change is permitted by GAAP.

     8.10 Security. Borrower shall not take any action with respect to any of the security for the Obligations held by Lender from time to time which is inconsistent with the provisions of this Agreement or which would have a Material Adverse Effect on the rights of Lender under this Agreement or the Inventory Loan Documents.

     8.11 Acquisitions. Borrower shall not undertake any new project acquisitions and/or new construction without the prior written consent of Lender.

     8.12 No Annexation or De-annexation of Club Inventory. Neither Borrower nor any other Person, shall be permitted to annex or de-annex any Club Inventory into or out of the Club without the prior written consent of Lender.

     8.13 Transactions with Affiliates. Without the prior written consent of Lender, Borrower shall not enter into any transaction with any Affiliate in connection with the Inventory Collateral, including, without limitation, relating to the purchase, sale or exchange any assets or properties or the rendering of any service, except with the DRC Affiliates in accordance with the Sales and Marketing Agreement, Management Agreement and Servicing Agreement, each of which agreements shall be approved by Lender prior to execution or modification thereof.

     8.14 Restrictive Covenants. Borrower will not, without Lender’s prior written consent, seek, consent to, or otherwise acquiesce in, any material change in any private restrictive covenant, planning or zoning law or other public or private restriction, which would limit or alter the use any of the Resorts, the Club, the Mortgaged Property, Units or the Financed Timeshare Interests.

     8.15 No Payment of Dividends. Unless specifically agreed to in writing by Lender, Borrower may not pay any dividends, fees, expenses or other sums or any distribution in cash or assets or any loans, salary advances or other payments to; (i) any

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shareholder of Borrower; (ii) any of the DRC Affiliates or shareholders, partners, members or employees thereof; or (iii) any corporation, partnership or other Person directly or indirectly owned in whole or in part by any shareholder, officer or director of Borrower or any Affiliate of any of the foregoing. Notwithstanding the foregoing, Borrower shall have the right to make the following payments without the consent of Lender: (A) compensation and bonuses (consistent with industry norms) paid to directors, management and employees of Borrower in the ordinary course of business, or (B) loans and advances to employees in the ordinary course of business not to exceed $50,000 in the aggregate at any time outstanding and (c) payments to any of the DRC Affiliates pursuant to the provisions of the Sales and Marketing Agreement, Management Agreement and Servicing Agreement.

     8.16 Downgrades. Borrower agrees not to downgrade a Timeshare Interest related to a Pledged Timeshare Loan unless Borrower pays Lender a prorata principal paydown together with accrued and unpaid interest applicable to such prorata principal amount.

SECTION 9. SUBORDINATED OBLIGATIONS.

     All indebtedness or liabilities, direct or indirect, contingent or non contingent, of Borrower to any Affiliate thereof or any of the DRC Affiliates, or any shareholder, partner, or member of Borrower, any Affiliate thereof or any of the DRC Affiliates (exclusive of any Management Agreement, Sales and Marketing Agreement or Servicing Agreement entered into with one or more of the DRC Affiliates), and all liens therefor, and effective upon the occurrence and during the continuation of an Event of Default (allowing for notice and cure provisions as may be applicable hereunder), distributions of profit or withdrawals of capital to or by any of the foregoing Persons (collectively, “Subordinated Indebtedness”), are hereby and shall be subordinated to the Receivables Loan and the Inventory Loan. Borrower hereby represents and warrants to Lender that the Subordinated Indebtedness comprises all of the Borrower’s debts, liabilities and obligations to any shareholders, members, partners, officers, directors or employees of Borrower, any Affiliates thereof or any DRC Affiliates, except for executive compensation and bonuses (in accordance with industry norms). Upon the occurrence and during the continuation of an Event of Default, Borrower will not directly or indirectly make or permit any payment (exclusive of any payment of sales and marketing fees to Marketing and Sales Agent, management fees to Manager and servicing fees to Servicer) to be made in respect of any Subordinated Indebtedness.

SECTION 10. DEFAULT.

     The occurrence of any one or more of the following events and/or occurrences shall constitute an “Event of Default” hereunder:

     10.1 Payments. Borrower’s failure to make, as and when due, and payable pursuant to the terms of this Agreement or any Inventory Loan Documents, any

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payment or mandatory prepayment of principal, interest or other fees or amounts with respect to the Inventory Loan.

     10.2 Covenant Defaults. Borrower fails to perform or observe any term, covenant or agreement contained Sections 7.4, 7.7, 7.8, 7.24, 7.38, 7.39, 7.40, 7.41, 7.42 or Section 8 of this Agreement; or (b) Borrower fails to perform or observe any term, covenant or agreement contained in this Agreement or any other Inventory Loan Document, and such Default shall continue unremedied for a period of thirty (30) days after the earlier to occur of (i) the date upon which an officer of Borrower or any of the Cloobeck Affiliates becomes aware of such failure and (ii) the date upon which written notice thereof is given to Borrower by Lender.

     10.3 Warranties and Representations. Any warranty or representation made herein proves to be false, misleading or incorrect.

     10.4 Attachment, Judgment, Tax Liens. The levy of an attachment, injunction, tax lien, judgments or any execution or other such process against Borrower’s property or any of its assets, the Club or any of the Mortgaged Property or Inventory Collateral with respect to a claim or claims aggregating $100,000 or more and the failure by Borrower to obtain the discharge thereof or provide adequate bond acceptable to Lender as security therefor within sixty (60) days after attachment.

     10.5 Invalid Lien. If any Lien or security interest granted by Borrower to Lender in connection with the Inventory Collateral on the Closing Date or subsequent thereto becomes invalid or unenforceable or is not, or ceases to be a perfected first priority Lien or security interest in favor of Lender and such unenforceability or invalidity gives rise to a Material Adverse Effect on Lender’s Inventory Collateral. Notwithstanding the foregoing, this provision shall not be applicable to any possible invalid foreclosures of Timeshare Interests undertaken by the ILX Sellers and not by Borrower.

     10.6 Involuntary Bankruptcy. If a case is commenced or a petition is filed against Borrower or any of the DRC Affiliates under any Debtor Relief Law and is not released, vacated or fully bonded within sixty (60) days after such commencement or filing, as applicable; a receiver, liquidator or trustee of Borrower or any of the DRC Affiliates or of a substantial portion of the assets of Borrower or of any of the DRC Affiliates is appointed by court order and such order remains in effect for more than sixty (60) days; or if a substantial portion of the assets of Borrower is sequestered by court order and such order remains in effect for more than sixty (60) days.

     10.7 Voluntary Bankruptcy. If Borrower or any of the DRC Affiliates voluntarily seeks, consents to or acquiesces in the benefit of any provision of any Debtor Relief Law, whether now or hereafter in effect; consents to the filing of any petition against it under such law; makes an assignment for the benefit of its or their creditors; admits in writing its or their inability to pay any of its debts generally as they become due; or consents to or suffers the appointment of a receiver, trustee, liquidator or conservator for Borrower or any of the DRC Affiliates or a substantial portion of its or their assets.

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     10.8 Failure to Deliver Payments and Removal of Collateral. If Borrower (i) fails to deliver payments made under the Inventory Collateral directly to Lender in accordance with the terms and provisions of this Agreement and the other Inventory Loan Documents, or (ii) inadvertently removes, transfers, conveys or permits any of the Inventory Collateral to be removed, transferred or conveyed, and such failure is not cured within fifteen (15) days.

     10.9 Termination or Revision of Documents. If the Club Membership Plan, Resort Plan, other Club Membership Documents or other Resort Documents creating or governing the Club or any Resort, any applicable timeshare plan, or any Association, any restrictive covenants with respect to the Club, the Club Membership Documents or any of the Resorts or the Resort Documents shall be terminated, amended, or modified without Lender’s prior written consent (other than amendments, modifications or terminations as may be required by law), which action could reasonably be expected to have a Material Adverse Effect on Lender’s Inventory Collateral, or if any default occurs under any Club Document or Resort Document, including, without limitation, a failure to maintain the One to One Ratio, and such action has or could reasonably be expected to have a Material Adverse Effect on Lender’s Inventory Collateral.

     10.10 Concealing Collateral. If Borrower (i) takes any action deemed by Lender to be a conversion of any of the Inventory Collateral, or (ii) conceals, removes, transfers, conveys, assigns or permits to be concealed, removed, transferred, conveyed or assigned, any of the Inventory Collateral in violation of the terms of any of the Loan Documents and with the intent to hinder, delay or defraud its creditors or any of them, including, without limitation, Lender.

     10.11 Intentionally Omitted.

     10.12 Creditors. If Borrower takes or is in the process of taking any action which Lender shall deem to be intended to (i) defraud any of their creditors, including, without limitation, Lender, (ii) convert all or any portion of the Inventory Collateral, or (iii) violate or circumvent applicable laws material to their respective businesses.

     10.13 Default in Other Agreements. Any default by Borrower, or any of the DRC Affiliates (i) in the payment of any indebtedness in connection with the Receivables Loan or the Inventory Loan; (ii) in the Management Agreements, Contracts, Servicing Agreement or Sales and Marketing Agreement; (iii) in the payment or performance of other indebtedness for borrowed money or obligations in excess of $100,000; or any default by DRC or any Affiliates thereof (a) on the Nevada Resorts Loan or (b) in the payment or performance of any other material indebtedness or obligations to any lenders, investors in any securitization or any provider of funds to DRC or any Affiliate thereof if such default results in either (i) a monetary default of $5 million or more and which is not cured within any applicable cure period, or (ii) the acceleration of such material indebtedness or obligations by the applicable lender and the default under (ii) is not cured (return to compliance with existing loan documents) within ten (10) days after the acceleration occurs.

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     10.14 Loss of License. The suspension, loss, revocation or failure to renew or file for renewal of any registration, approval (if required), license, permit or franchise now held or hereafter acquired by Borrower that are necessary or appropriate for the Borrower to carry on its business or with respect to the marketing and sale of Timeshare Interests, or the operation of any of the Resorts or the Club or the failure to pay any fee, which is necessary for the continued operation of the Resorts, the Club, Timeshare Interests or Borrower’s business in the same manner as it is being conducted at the time of such loss, revocation, failure to renew or failure to pay which is not cured in thirty (30) days after issuance; provided, however, if the suspension, loss, revocation or failure to renew or pay is incapable of cure within thirty (30) days and Borrower shall be diligently pursuing a cure, such thirty (30) day period shall be extended by a period not to exceed thirty (30) additional days.

     10.15 Suspension of Sales. The issuance of any stay order, cease and desist order, injunction, temporary restraining order or other judicial or nonjudicial sanction limiting or materially affecting any Timeshare Interest marketing or sales activities in any material respect in connection with the Resorts or the Club, or the enforcement of Lender’s remedies, which order or sanction is not terminated or dissolved within thirty (30) days after issuance; provided, however, if the termination or dissolution is incapable of cure within thirty (30) days and Borrower shall be diligently pursuing a cure, such thirty (30) day period shall be extended by a period not to exceed thirty (30) additional days.

     10.16 Insolvency. Borrower becomes insolvent because the amount of Borrower’s liabilities to any Person exceeds the amount of Borrower’s assets or otherwise generally unable to pay its debts as and when they become due or payable.

     10.17 Transfer or Sale. Except for the sale of Timeshare Interests in the ordinary course of business in accordance with the terms hereof, and except for transfers due to involuntary condemnation which do not render the Club, any of the Resorts or Inventory Collateral useless for its intended purpose as contemplated herein, if Borrower shall, without Lender’s prior written consent, sell, convey or further encumber all or any part of its interest in the Club, any of the Resorts, the Inventory Collateral or in any of the personalty located thereon or used or intended to be used in connection therewith, except for Borrower’s right to annex stand-alone fee simple timeshare interests into the Club as permitted in Section 7.8(g) hereof. For purposes of this paragraph, an assignment, sale or transfer shall include a Change of Control.

     10.18 Collateral. If any violation or breach shall occur in any agreement, covenant or restriction affecting title to all or any portion of the Club or any of the Resorts, which would have a Material Adverse Effect on the Inventory Collateral.

     10.19 Change of Control. If any Change of Control shall have occurred.

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     10.20 Financial Condition. A material adverse change in the financial condition of Borrower or any of the DRC Affiliates has occurred as determined by Lender in its reasonable, good faith discretion.

     10.21 Cessation of Sales or Business. Any cessation without Lender’s prior written consent of (i) marketing or sales at the Sedona, Arizona sales location formerly owned or leased by any of the ILX Sellers, or (ii) a material part of Borrower’s business shall occur (including, without limitation, operation of any of the Resorts or the Club) and if such marketing, sales or business shall not be resumed within thirty (30) days after such cessation, unless the cessation is due to a force majeure event.

     10.22 Observance of Loan Documents. Any default by Borrower in the due observance of any term, covenant or condition in any Loan Document or Inventory Loan Document or the revocation or attempted revocation or repudiation thereof, in whole or in part by Borrower.

     10.23 Receivables Loan. The occurrence of an Event of Default by Borrower with respect to any of the Receivables Loan or the Loan Documents.

     10.24 Change in Marketing and Sale Agent, Club Manager, Resort Manager or Servicer. Any change in the entity that is the Marketing and Sales Agent, the Club Manager, the Resort Manager or the Servicer, without the prior written consent of Lender.

     10.25 Forest Service Land. Failure by Borrower to make all required payments due with respect to the Forest Service Land as set forth in Section 2.12 hereof.

SECTION 11. REMEDIES UPON DEFAULT.

     11.1 Should an Event of Default exist under this Agreement, it shall constitute a default under the Inventory Loan Promissory Note and all other Inventory Loan Documents which shall entitle Lender at its option and at any time to take any one or more of the actions described in this Section 11, all without notice to Borrower:

               (a) Acceleration. Without demand or notice of any nature whatsoever, declare the unpaid principal balance of the Inventory Loan (plus any interest, fees and expenses due) and/or the Inventory Loan, immediately due and payable, whereupon the same shall be due and payable, with the sole exception that no declaration is required in the event of the insolvency of the Borrower pursuant to the terms hereto.

               (b) Termination of Lender’s Performance. Terminate a commitment, if any, of Lender to lend under this Agreement, the Inventory Loan Documents or the Loan Documents in their entirety, or any portion of any such commitment, and/or terminate Lender’s further performance under this Agreement, the Inventory Loan Documents or the Loan Documents in their entirety, without further

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liability or obligation to Borrower, to the extent Lender shall deem appropriate, all without notice to Borrower.

               (c) Judgment. Reduce Lender’s claim to judgment, foreclose or otherwise enforce Lender’s Lien in all or any part of the Inventory Collateral by any available judicial or other procedure under law. Lender’s right to xxx and recover a judgment, either before, after or during the pendency of any proceeding for the enforcement of the applicable lien or security interest, and the right of Lender to recover such judgment shall not be affected by any taking, possession or foreclosure sale hereunder or by the exercise of any other right, power or remedy for the enforcement of the terms or the foreclosure of the lien thereof.

               (d) Sale of Collateral. After notification, if any, provided for in Section 11.2 below, sell or otherwise dispose of, at the office of Lender, or elsewhere, as chosen by Lender, all or any part of the Collateral (including without limitation, the Management Agreement), and any such sale or other disposition may be as a unit or in parcels, by public or private proceedings, and by way of one or more contracts (it being agreed that the sale of any part of the Inventory Collateral shall not exhaust Lender’s power of sale, but sales may be made from time to time until all of the Inventory Collateral has been sold or until the Obligations have been paid in full and fully performed), and at any such sale it shall not be necessary to exhibit the Inventory Collateral. Borrower hereby acknowledges and agrees that a private sale or sales of the Inventory Collateral, after notification as provided for in Section 11.2, shall constitute a commercially reasonable disposition of the Inventory Collateral sold at any such sale or sales, and otherwise, commercially reasonable action on the part of the Lender.

               (e) Retention of Inventory Collateral. At its discretion, retain such portion of the Inventory Collateral as shall aggregate in value to an amount equal to the total amount owed by the Borrower pursuant to the Inventory Loan Documents and the Loan Documents in satisfaction of the Obligations under the Inventory Loan and/or the Receivables Loan, whenever the circumstances are such that Lender is entitled and elects to do so under applicable law.

               (f) Receiver. Apply by appropriate procedures for the appointment of a receiver who shall have the authority to enter upon and take possession of any portion of the Mortgaged Property or Inventory Collateral, collect the Rents therefrom and apply the same as the court may direct. Borrower hereby consents to any such appointment. The receiver shall have all of the rights and powers permitted under the laws of the state of the receivership.

               (g) Purchase of Inventory Collateral. Buy all or any part of the Inventory Collateral at any public or private sale.

               (h) Exercise of Other Rights. Lender shall have all the rights and remedies of a secured party under the UCC and other legal and equitable rights to which it may be entitled, pursuant to applicable law including, without limitation, and

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without notice to Borrower, the right to continue to collect all payments made on the Pledged Timeshare Loans, and to apply such payments to the Obligations, and to xxx in its own name the maker of any defaulted Pledged Timeshare Loans. Lender may also exercise any and all other rights or remedies afforded by any other applicable laws or by the Inventory Loan Documents or the Loan Documents, as Lender shall deem appropriate, at law, in equity or otherwise, including, but not limited to, the right to bring suit or other proceeding, either for specific performance of any covenant or condition contained in the Inventory Loan Documents or the Loan Documents in their entirety, or in aid of the exercise of any right or remedy granted to Lender in the Inventory Loan Documents or the Loan Documents in their entirety. Lender shall also have the right to require the Borrower to assemble any of the Collateral not in Lender’s possession, at Borrower’s expense, and make it available to Lender at a place to be determined by Lender which is reasonably convenient to both parties, and Lender shall have the right to take immediate possession of all of the Inventory Collateral, and may enter the Club, any of the Resorts or any of the premises of Borrower or wherever the Inventory Collateral shall be located, with or without process of law wherever the Inventory Collateral may be, and, to the extent such premises are not the property of Lender, to keep and store the same on said premises until sold.

               (i) Rights Under Resort Documents or Club Membership Documents. Exercise any and all rights and remedies granted to Borrower under the Resort Documents or the Club Membership Documents to the extent permitted by law.

               (j) Termination of Obligation to Grant Partial Release. Stop granting any partial releases from the Lien of the Mortgage.

               (k) Foreclosure. Whether or not Lender takes possession of the Inventory Collateral, Lender may proceed to foreclose the Mortgage and to sell the Mortgaged Property in its entirety or in separate increments under the judgment of decree of a court or courts of competent jurisdiction and to pursue any other remedy available to it, all as Lender shall deem appropriate. Upon the commencement of suit or foreclosure proceedings with respect to the Mortgage, the unpaid principal balance of the Inventory Loan Promissory Note and the Receivables Loan Promissory Note, if not previously accelerated and declared due, together with the interest accrued thereon and all other Obligations under the Inventory Loan Documents, and the Loan Documents, shall immediately be due and payable. Upon any foreclosure sale pursuant to judicial proceedings, Lender may bid for and purchase all or any portion of the Mortgaged Property and, upon compliance with the terms of sale, my hold, retain and possess and dispose of the Mortgaged Property. In the case of a foreclosure sale of all or any portion of the Mortgaged Property and the application of the proceeds of sale to the payment of the debt secured by the Mortgage, Lender shall be entitled to enforce payment of and to receive all amounts then remaining due and unpaid upon the Inventory Loan Promissory Note and Receivables Loan Promissory Note, and Lender shall be entitled to recover judgment for any portion of the debt remaining unpaid, with interest. Borrower agrees, to the full extent that it may lawfully so agree, that no recovery of any such judgment by Lender and no attachment or levy of any execution

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upon any such judgment upon any of the Inventory Collateral or upon any other property shall in any manner or to any extent affect the Lien of the Mortgage upon the Mortgaged Property or any part thereof of any lien, rights, powers or remedies of Lender hereunder, and such lien, rights, powers and remedies shall continue unimpaired.

               (l) Lender’s Right to Take Possession, Operate and Apply Income.

                    (i) Upon Lender’s demand, Borrower shall forthwith surrender to Lender the actual possession of any or all of the Mortgaged Property and, to the extent permitted by law, Lender may enter and take possession of Mortgaged Property and may exclude Borrower and their employees and other Lender wholly therefrom and may have joint access with Borrower to Borrower’s books, papers and accounts. If Borrower fails to surrender or deliver all or any portion of Mortgaged Property to Lender upon demand, Lender may obtain a judgment or decree conferring upon Lender the right to immediate possession or requiring Borrower to deliver immediate possession of all or part of the Mortgaged Property to Lender, and Borrower hereby specifically consents to the entry of such a judgment or decree.

                    (ii) Upon every such entering upon or taking of possession, Lender may hold, store, use, operate, manage and control of the Mortgaged Property and conduct Borrower’s business at the Mortgaged Property and, from time to time, do any of the following things as Lender may from time to time deem necessary, appropriate or desirable:

                         (A) perform all maintenance, repairs, renewals, replacements, additions and improvements necessary and proper to the Mortgaged Property and purchase or otherwise acquire additional fixtures, personalty and other property;

                         (B) insure, manage and operate the Mortgaged Property and exercise all of the rights and powers of Borrower (in Lender’s name or otherwise) with respect to the insurance, management and operation of the Mortgaged Property;

                         (C) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted to Lender;

                         (D) perform or cause to be performed any all work and labor necessary to complete each of the Financed Improvements with respect to the Mortgaged Property;

                    (iii) Lender may collect and receive all of the Rents of the Mortgaged Property, including those past due as well as those accruing thereafter. Lender shall apply such amounts received by Lender first to the payment of accrued

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interest and then to the payment of principal and all other sums or indebtedness that may be due hereunder, after deducting therefrom:

                         (A) All expenses of taking, holding, managing and operating the Mortgaged Property (including compensation for the services of all persons employed for such purposes;

                         (B) The cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions;

                         (C) The cost of insurance;

                         (D) Such taxes, assessments and other charges prior to the Lien of the Mortgage as Lender may determine to pay;

                         (E) Other proper charges upon the Mortgaged Property or any part thereof; and

                         (F) The reasonable compensation, expenses and disbursements of the attorneys and other agents of Lender, including attorneys’ fees and court costs.

                    (iv) If an Event of Default giving rise to pursuit of the foregoing remedy shall have been cured, Lender may, at its option, surrender possession of the Mortgaged Property to Borrower, its successors or assigns; provided, however, that Lender’s right to take possession and to pursue any other remedies hereunder or under any of the other Inventory Loan Documents shall exist if any subsequent Event of Default shall occur.

               (m) Exercise of Rights Under the Collateral Assignments. Exercise any and all rights and remedies granted to Lender under the Collateral Assignments.

     11.2 Notice of Sale. Reasonable notification of the time and place of any public sale of the Collateral or reasonable notification of the time after which any private sale or other intended disposition of the Inventory Collateral is to be made shall be sent to Borrower and to any other Person entitled under the UCC to notice; provided, however, that if the Inventory Collateral threatens to decline speedily in value or is of a type not customarily sold on a recognized market, Lender may sell or otherwise dispose of the Inventory Collateral without notification, advertisement or other notice of any kind. It is agreed that notice sent not less than ten (10) calendar days prior to the taking of the action to which such notice relates is reasonable notification and notice for the purposes of this Section 11.2. Lender shall have the right to bid at any public or private sale on its own behalf. Out of money arising from any such sale, Lender shall retain an amount equal to all costs and charges, including attorneys’ fees, for advice, counsel or other legal services or for pursuing, reclaiming, seeking to reclaim, taking, keeping, removing,

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storing and advertising such Inventory Collateral for sale, selling same and any and all other charges and expenses in connection therewith and in satisfying any prior Liens thereon. Any balance shall be applied upon the Obligations, and in the event of deficiency, Borrower shall remain liable to Lender. In the event of any surplus, such surplus shall be paid to Borrower or to such other Persons as may be legally entitled to such surplus. If, by reason of any suit or proceeding of any kind, nature or description against Borrower, or by Borrower or any other party against Lender, which in Lender’s sole discretion makes it advisable for Lender to seek counsel for the protection and preservation of its security interest, or to defend its own interest, such expenses and counsel fees shall be allowed to Lender and the same shall be made a further charge and Lien upon the Inventory Collateral.

          In view of the fact that federal and state securities laws may impose certain restrictions on the methods by which a sale of Inventory Collateral comprised of securities may be effected after an Event of Default, Borrower agrees that upon the occurrence and during the continuance of an Event of Default, Lender may, from time to time, attempt to sell all or any part of such Inventory Collateral by means of a private placement restricting the bidding and prospective purchasers to those who will represent and agree that they are purchasing for investment only and not for, or with a view to, distribution. In so doing, Lender may solicit offers to buy such Inventory Collateral, or any part of it for cash, from a limited number of investors deemed by Lender, in its reasonable judgment, to be responsible parties who might be interested in purchasing the Inventory Collateral, and if Lender solicits such offers from not less than three (3) such investors, then the acceptance by Lender of the highest offer obtained therefrom shall be deemed to be a commercially reasonable method of disposition of such Inventory Collateral.

     11.3 Application of Collateral; Termination of Agreements. Upon the occurrence and during the continuation of any Event of Default, Lender may, with or without proceeding with such sale or foreclosure or demanding payment or performance of the Obligations, without notice, terminate Lender’s further performance under the Inventory Loan, the Inventory Loan Documents, the Receivables Loan or the Loan Documents, without further liability or obligation by Lender, and may also, at any time, appropriate and apply to any Obligations any and all Inventory Collateral in its (or the Lockbox Agent’s, Custodian’s or any escrow agent’s) possession, any and all balances, credits, deposits, accounts, reserves, indebtedness or other moneys due or owing to Borrower held by Lender hereunder or under any other financing agreement with Lender or otherwise, whether accrued or not. The termination of this Agreement by lapse of time, the giving of notice or otherwise, shall not absolve, release or otherwise affect the liability of Borrower in respect of transactions prior to such termination, or affect any of the Liens, security interests, rights, powers and remedies of Lender, but they shall, in all events, continue until all of the Obligations (other than contingent indemnification obligations to the extent no unsatisfied claim with respect thereto has been asserted) under the Inventory Loan and the Receivables Loan are satisfied.

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     11.4 Rights of Lender Regarding Inventory Collateral. In addition to all other rights possessed by Lender, Lender, at its option, may from time to time after there shall have occurred an Event of Default, and so long as such Event of Default remains uncured, at its sole discretion, take the following actions:

               (a) Transfer all or any part of the Inventory Collateral into the name of Lender or its nominee;

               (b) Take control of any proceeds of any of the Inventory Collateral;

               (c) Extend or renew the Inventory Loan and/or Receivables Loan and grant releases, compromises or indulgences with respect to the Obligations, any portion thereof, any extension or renewal thereof, or any security therefor, to any obligor hereunder or thereunder; and

               (d) Exchange certificates or instruments representing or evidencing the Inventory Collateral for certificates or instruments of smaller or larger denominations for any purpose consistent with the terms of this Agreement.

     11.5 Delegation of Duties and Rights. Lender may execute any of its duties and/or exercise any of its rights or remedies under the Inventory Loan Documents by or through its officers, directors, employees, attorneys, agents or other representatives.

     11.6 Lender Not in Control. None of the covenants or other provisions contained in this Agreement or in any other Inventory Loan Document shall give Lender the right or power to exercise control over the affairs and/or management of Borrower, the Cloobeck Affiliates or any of their respective Affiliates.

     11.7 Waivers. The acceptance by Lender at any time and from time to time of partial payments of the Receivables Loan and/or Inventory Loan or performance of the Obligations shall not be deemed to be a waiver of any Event of Default then existing. No waiver by Lender of any Event of Default shall be deemed to be a waiver of any other or subsequent Event of Default. No delay or omission by Lender in exercising any right or remedy under the Loan Documents or Inventory Loan Documents shall impair such right or remedy or be construed as a waiver thereof or an acquiescence therein, nor shall any single or partial exercise of any such right or remedy preclude other or further exercises thereof, or the exercise of any other right or remedy under the Loan Documents, Inventory Loan Documents or otherwise. To the extent permitted by applicable law, Borrower hereby waives setoff, counterclaim, demand, presentment, protest, all defenses with respect to any and all instruments and all notices and demands of any description, and the pleading of any statute of limitations as a defense to any demand under this Agreement and any other Loan Document and Inventory Loan Documents. Borrower hereby waives any and all defenses and counterclaims each may have or could interpose in any action or procedure brought by Lender to obtain an order of court recognizing the assignment of, or Lien of Lender in and to, any

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Receivables Collateral. Further, except as otherwise expressly provided in this Agreement or by applicable law, Borrower and each and every surety, endorser, guarantor and other party liable for the payment or performance of all or any portion of the Obligations, severally waive notice of the occurrence of any Event of Default, presentment and demand for payment, protest, and notice of protest, notice of intention to accelerate, acceleration and nonpayment, and agree that their liability shall not be affected by any renewal or extension in the time of payment of the Receivables Loan or Inventory Loan, or by any release or change in any security for the payment or performance of the Receivables Loan or Inventory Loan, regardless of the number of such renewals, extensions, releases or changes.

     11.8 Cumulative Rights. All rights and remedies available to Lender under the Inventory Loan Documents and Loan Documents shall be cumulative of and in addition to all other rights and remedies granted to Lender under any of the Inventory Loan Documents or Loan Documents, at law or in equity, whether or not the Inventory Loan or the Receivables Loan is due and payable and whether or not Lender shall have instituted any suit for collection or other action in connection with the Inventory Loan Documents or the Loan Documents.

     11.9 Expenditures by Lender. Any reasonable and documented sums expended by or on behalf of Lender pursuant to the exercise of any right or remedy provided herein shall become part of the Obligations and shall bear interest at the Default Rate, from the date of such expenditure until the date repaid.

     11.10 Diminution in Value of Collateral. Lender shall not have any liability or responsibility whatsoever for any diminution or loss in value of any of the Inventory Collateral, except and to the extent such diminution or loss is as a result of Lender’s gross negligence or willful misconduct.

SECTION 12. CERTAIN RIGHTS OF LENDER.

     12.1 Protection of Inventory Collateral. Lender may, at any time and from time to time, take such actions as Lender deems necessary or appropriate to protect Lender’s Liens on and to preserve the Inventory Collateral, and to establish, maintain and protect the enforceability of Lender’s rights with respect thereto and Borrower shall pay reasonable and documented expenses incurred by Lender in connection therewith. Borrower agrees to use commercially reasonable efforts to cooperate fully with all of Lender’s efforts to preserve the Inventory Collateral and Lender’s Liens and rights and will take such actions to preserve the Inventory Collateral and Lender’s Liens and rights as Lender may direct, including, without limitation, by promptly paying upon Lender’s demand therefor, all documentary stamp taxes or other taxes that may be or may become due in respect of any of the Inventory Collateral. To the extent otherwise possible pursuant to the terms and provisions hereto, all of Lender’s expenses of preserving the Inventory Collateral and its Liens and rights therein shall be added to the principal amount of the Inventory Loan.

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     12.2 Performance by Lender. If Borrower fails to perform any agreement contained herein, and subject to any notice or cure periods, Lender may itself perform, or cause the performance of, such agreement, and the reasonable and documented expenses of Lender incurred in connection therewith shall be payable by Borrower. In no event, however, shall Lender have any obligation or duty whatsoever to perform any covenant or agreement of Borrower contained herein or in any of the other Inventory Loan Documents, Loan Documents, Resort Documents, Club Membership Documents or Contracts, and any such performance by Lender shall be wholly discretionary with Lender. The performance by Lender of any agreement or covenant of Borrower on any occasion shall not give rise to any duty on the part of Lender to perform any such agreements or covenants on any other occasion or at any time. In addition, Borrower acknowledges that Lender shall not at any time or under any circumstances whatsoever have any duty to Borrower or to any third party to exercise any of Lender’s rights or remedies hereunder and secured by the Inventory Collateral.

     12.3 No Liability of Lender. Neither the acceptance of this Agreement by Lender, nor the exercise of any rights hereunder by Lender, shall be construed in any way as an assumption by Lender of any obligations, responsibilities, duties or Assessments of Borrower arising in connection with any of the Resorts or under the applicable Resort Documents, the Club or under the Club Membership Documents, any applicable statutes, ordinances, rules or regulations, under any of the Contracts, or in connection with any other business of Borrower or the Receivables Collateral, or otherwise bind Lender to the performance of any obligations with respect to any of the Resorts or the Receivables Collateral; it being expressly understood that Lender shall not be obligated to perform, observe or discharge any obligation, responsibility, duty, or liability of Borrower, with respect to the Club, any of the Resorts or any of the Receivables Collateral, or under any of the Resort Documents, the Club Membership Documents, any applicable statutes, ordinances, rules or regulations, or under any of the Contracts, including, but not limited to, appearing in or defending any action, expending any money or incurring any expense in connection therewith. Without limitation of the foregoing, neither this Agreement, any action or actions on the part of Lender taken hereunder, nor the acquisition of the Pledged Timeshare Loans, Purchase Agreements and the related Assigned Deeds of Trust by Lender prior to or following the occurrence of an Event of Default shall constitute an assumption by Lender of any Obligations of Borrower, with respect to any Resort, the Club or the Pledged Timeshare Loans, Purchase Agreements, the related Assigned Deeds of Trust or any documents or instruments executed in connection therewith, and Borrower shall continue to be liable for all of its obligations thereunder or with respect thereto. Borrower hereby agrees to indemnify, protect, defend and hold Lender harmless from and against any and all Assessments, claims, demands, causes of action, losses, damages, liabilities, suits, costs and expenses, including, without limitation, reasonable attorneys’ fees and court costs, asserted against or incurred by Lender by reason of, arising out of, or connected in any way with (i) any failure or alleged failure of Borrower to perform any of its respective covenants or obligations with respect to the Club, any Resort or to the Purchasers of any of the Timeshare Interests; (ii) a breach of any certification, representation, warranty or covenant of Borrower set forth in any of the Loan Documents or the

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Inventory Loan Documents; (iii) the ownership of the Pledged Timeshare Loans, the Purchase Agreements, the Assigned Deeds of Trust and the rights, titles and interests assigned hereby, or intended so to be; (iv) the debtor-creditor relationships between Borrower on the one hand, and the Purchasers or Lender, as the case may be, on the other; or (v) the Pledged Timeshare Loans, the Purchase Agreements, the Assigned Deeds of Trust or the operation of any of the Resorts, the Club or the sale of Timeshare Interests, except to the extent any such Assessments, claims, demands, causes of action, losses, damages, liabilities, suits, costs and expenses arise as a result of the gross negligence or willful misconduct of Lender. The obligations of Borrower to indemnify, protect, defend and hold Lender harmless as provided in this Agreement are absolute, unconditional, present and continuing, and shall not be dependent upon or affected by the genuineness, validity, regularity or enforceability of any claim, demand or suit from which Lender is indemnified, except to the extent any such Assessments, claims, demands, causes of action, losses, damages, liabilities, suits, costs and expenses arise as a result of the gross negligence or willful misconduct of Lender. The indemnity provisions in this Section 12.3 shall survive for one hundred and eighty (180) days after the satisfaction of the Obligations and termination of this Agreement, and remain binding and enforceable against Borrower, together with its successors and assigns, for such one hundred and eighty (180) day period.

     12.4 Right to Defend Action Affecting Security. Upon the occurrence and during the continuation of an Event of Default, Lender may, at Borrower’s expense, appear in and defend any action or proceeding, at law or in equity, which Lender in good faith believes may have a Material Adverse Effect. Lender may engage counsel of choice in any such action or proceeding without the consent of Borrower and Borrower shall pay the reasonable fees and expenses of such counsel elected by Lender.

     12.5 Expenses. All expenses and Loan Costs payable by Borrower pursuant to the terms of any provision of this Agreement shall be an Obligation of Borrower, and if paid by Lender, shall be repaid by Borrower to Lender upon demand by Lender therefore, and shall bear interest at the Default Rate from the date of payment of such expense(s) by Lender until repaid by Borrower.

     12.6 Lender’s Right of Set-Off. Upon the occurrence and during the continuation of an Event of Default, Lender shall have the right to set-off and appropriate and apply against any amount due and payable at such time to Lender by Borrower under the Inventory Loan Documents or the Loan Documents, any credits, indebtedness or claims at any time held or owing by Lender or any Affiliate of Lender to or for the credit or account of Borrower without prior notice to Borrower, such notice hereby expressly waived.

     12.7 No Waiver. No failure or delay on the part of Lender in exercising any right, remedy or power under this Agreement or in giving or insisting upon strict performance by Borrower hereunder or in giving notice hereunder shall operate as a waiver of the same or any other power or right, and no single or partial exercise of any such power or right shall preclude any other or further exercise thereof or the exercise of any other

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such power or right. Lender, notwithstanding any such failure, shall have the right thereafter to insist upon the strict performance by Borrower of any and all of the terms and provisions of this Agreement to be performed by Borrower. The collection and application of proceeds, the entering and taking possession of the Inventory Collateral, and the exercise of the rights of Lender contained in this Agreement and the other Inventory Loan Documents or the Loan Documents shall not cure or waive any Event of Default, or affect any Event of Default or affect any notice of an Event of Default, or invalidate any acts done pursuant to such notice. No waiver by Lender of an Event of Default of or by any party hereunder shall be deemed to alter or affect Lender’s rights hereunder with respect to any prior or subsequent Event of Default.

     12.8 Right of Lender to Extend Time of Payment, Substitute, Release Security, Etc. Without affecting the liability of any Person for the payment of any of the Obligations and without affecting or impairing Lender’s Lien on the Inventory Collateral, or the remainder thereof, as security for the full amount of the Inventory Loan unpaid and the Obligations, Lender may from time to time, without notice: (a) release any Person liable for the payment of the Inventory Loan; (b) extend the time or otherwise alter the terms of payment of the Inventory Loan; (c) accept additional security for the Obligations of any kind, including deeds of trust or mortgages and security agreements; (d) alter, substitute or release any property securing the Obligations; (e) upon the occurrence and during the continuation of an Event of Default realize upon any Inventory Collateral for the payment of all or any portion of the Inventory Loan in such order and manner as it may deem fit; or (f) join in any subordination or other agreement affecting this Agreement or the lien or charge thereof.

     12.9 Assignment of Lender’s Interest. Lender shall have the right to assign the Inventory Loan and all or any portion of its rights in or pursuant to this Agreement or any of the Inventory Loan Documents to any subsequent holder or holders of the Inventory Loan Promissory Note or the Obligations including, without limitation, to an Affiliate, participant, or as part of a securitization or conduit financing.

     12.10 Intentionally Omitted.

     12.11 Intentionally Omitted.

     12.12 Lender’s Appointment as Attorney-in-Fact.

               (a) Borrower does hereby irrevocably constitute and appoint Lender and any officer or agent thereof, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of Borrower and in the name of Borrower, or in its own name, if an Event of Default shall have occurred and be continuing, to do the following from time to time in the Lender’s discretion, for the purpose of carrying out the terms of this Agreement, to take any and all appropriate action and to execute any and all documents and instruments which may be necessary or desirable to accomplish the purposes of this Agreement, and, without limiting the generality of the foregoing, Borrower hereby gives the Lender the power and

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right, on behalf of Borrower, without assent by, but with notice to, Borrower, if an Event of Default shall have occurred and be continuing, to do the following:

                    (i) in the name of the Borrower or its own name, or otherwise, to take possession of and endorse and collect any checks, drafts, notes, acceptances or other instruments for the payment of moneys due with respect to any of the Inventory Collateral and to file any claim or to take any other action or proceeding in any court of law or equity or otherwise deemed appropriate by the Lender for the purpose of collecting any and all such moneys due with respect to any of the Inventory Collateral whenever payable;

                    (ii) to pay or discharge taxes and Liens levied or placed on or threatened against the Inventory Collateral;

                    (iii) (A) to direct any party liable for any payment under any Inventory Collateral to make payment of any and all moneys due or to become due thereunder directly to the Lender or as the Lender shall direct; (B) to ask or demand for, collect, receive payment of and receipt for, any and all moneys, claims and other amounts due or to become due at any time in respect of or arising out of any Inventory Collateral; (C) to sign and endorse any invoices, assignments, verifications, notices and other documents in connection with any of the Inventory Collateral; (D) to commence and prosecute any suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect the Inventory Collateral or any part thereof and to enforce any other right in respect of any Inventory Collateral; (E)to defend any suit, action or proceeding brought against Borrower with respect to any Inventory Collateral; (F) to settle, compromise or adjust any suit, action or proceeding described in clause (G) above and, in connection therewith, to give such discharges or releases as the Lender may deem appropriate; and (H) generally, to sell, transfer, pledge and make any agreement with respect to or otherwise deal with any of the Inventory Collateral as fully and completely as though the Lender were the absolute owner thereof for all purposes, and to do, at the Lender’s option and Borrower’s expense (Borrower shall pay all reasonable and documented expenses incurred by Lender in connection therewith), at any time, or from time to time, all acts and things which the Lender deems necessary to protect, preserve or realize upon the Inventory Collateral and the Lender’s Liens thereon and to effect the intent of this Agreement, all as fully and effectively as the Borrower might do;

                    (iv) to demand and receive from time to time any and all property, rights, titles, interests, and liens hereby sold, assigned and transferred, or intended so to be, and to give receipts for same;

                    (v) to collect all Rents;

                    (vi) to change Borrower’s post office mailing addressor any merchant account numbers or lockbox account numbers for payment of remittances with respect to the Inventory Collateral; and

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                    (vii) generally to do all and any such acts and things in relation to the Collateral as Lender shall in good xxxxx xxxx advisable.

Borrower hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue hereof. This power of attorney is a power coupled with an interest and shall be irrevocable.

               (b) Borrower also authorizes the Lender, at any time and from time to time, to execute, in connection with the sale provided for in accordance with this Agreement and the Inventory Loan Documents, any endorsements, assignments or other instruments of conveyance or transfer with respect to the Inventory Collateral.

               (c) The powers conferred on the Lender are solely to protect the Lender’s interests in the Receivables Collateral and shall not impose any duty upon the Lender to exercise any such powers. The Lender shall be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither the Lender nor any of its officers, directors, or employees shall be responsible to Borrower or any of the DRC Affiliates for any act or failure to act hereunder, except for its own gross negligence or willful misconduct.

     12.13 Investigations and Inquiries. Borrower hereby authorizes Lender to conduct such reasonable investigations and inquiries as to Borrower’s credit and operations, the Club, the Resorts, the Mortgaged Property and the Inventory Collateral as Lender shall, in its sole discretion, deem necessary or desirable in connection with monitoring the Inventory Loan.

SECTION 13. MISCELLANEOUS.

     13.1 Waiver. No waiver by Lender of any default or breach by Borrower hereunder shall be implied from any omission by Lender to take, or any delay in taking, action on account of such default other than the default expressly made the subject of the waiver and any such express waiver shall be operative only for the time and to the extent therein stated. Any waiver of any covenant, term or condition contained herein shall not be construed as a waiver of any subsequent breach of the same covenant, term or condition. The consent or approval by Lender to or of any act by Borrower requiring further consent or approval shall not be deemed to waive or render unnecessary the consent or approval to or of any subsequent similar act. Notwithstanding anything set forth herein to the contrary, if no notice of a default or waiver is required hereunder and none has been given, Lender shall not be deemed to have waived any rights which it may have hereunder until seven (7) days following receipt by it of written notice from Borrower alerting Lender to the fact that the time for exercising any right or remedy hereunder has elapsed without exercise thereof and such time for exercise shall automatically be extended to seven (7) days following notice, said right shall conclusively be deemed to have been waived by Lender. The intent of this paragraph is to avoid unintentional waivers by Lender of any of its rights hereunder.

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     13.2 No Duty of Lender. Nothing in this Agreement shall impose or imply any duty or obligation whatsoever upon Lender, and except as required by applicable law, Lender shall be under no duty to take any action to preserve rights of Borrower with respect to any of the security held by Lender for the Obligations. To the extent permitted under applicable law, Borrower waives any and all impairment of recourse and/or impairment of collateral defenses which it may possess against the Lender.

     13.3 Amendment. The Agreement and the Inventory Loan Documents, and the terms of each of them, is the entire agreement between the parties and may not be changed, waived, discharged or terminated orally, but only by an instrument or instruments in writing signed by each of Borrower and Lender.

     13.4 Notices. Any notice, demand or request which may be permitted, required or desired to be given in connection herewith shall be in writing and directed to the parties at the respective addresses set forth below (or at such other address as a party hereto may designate in writing) and shall be tendered by personal delivery or by facsimile transmission with verifiable transmission capability or be deposited in the U.S. mail, registered or certified, return receipt requested. Such notice, if forwarded by mail, shall be deemed effective seventy-two (72) hours after deposit in the U.S. mail, or if personally delivered, upon delivery. A registered mail or certified mail receipt will be prima facie evidence of the giving of such notice and the date thereof. If such notice is personally served, such notice shall be effective upon delivery or if such notice is sent by facsimile transmission, such notice shall be effective upon the completion of the transmission of the same (so long as the sender retains evidence of the recipient’s(s’) receipt).

If to Borrower:		ILX Acquisition, Inc.
		00000 Xxxx Xxxxxxxxxx Xxxxxxxxx
		Xxx Xxxxx, Xxxxxx 00000
		Attn: General Counsel
		Facsimile: 000-000-0000
With a Copy to:
		Katten, Muchin Rosenman LLP
		000 Xxxx Xxxxxx Xxxxxx
		Xxxxx 0000 Xxxxxxx, XX 00000
		Attn: Xxx Xxxxx Xxxx
		Facsimile: 000-000-0000
If to Lender:		Textron Financial Corporation
		00 Xxxxxxxxxxx Xxxxxxxxx Xxxxxxxxxxx, XX 00000
		Attn: Xxxx Xxxxxx
		Facsimile: 000-000-0000

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With a Copy to:

Textron Financial Corporation

00 Xxxxxxxxxxx Xxxxxxxxx

Xxxxxxxxxxx, XX 00000

Attn: Division President

Facsimile: 000-000-0000

With a Copy to:

Textron Financial Corporation

00 Xxxxxxxxxxx Xxxxxx

Xxxxxxxxxx, Xxxxx Xxxxxx 00000

Attn: Legal Department

Facsimile: 000-000-0000

     Nothing herein contained shall be construed as preventing the parties hereto, respectively, from changing the place to which notice shall be addressed, but no such change shall be valid unless it is given in accordance with the terms of this paragraph.

     13.5 Attorneys’ Fees. Borrower does hereby covenant and agree that it shall reimburse Lender for any and all reasonable and documented litigation, collection and enforcement fees and costs of whatever nature, including attorneys reasonable fees and court costs, which Lender may incur as a result of its enforcement of Borrower’s obligations hereunder including, without limitation, all “workout” or similar discussions and negotiations and all reasonable and documented fees and costs incurred in connection with Lender’s involvement in any bankruptcies arising therefrom.

     13.6 Binding Effect; Assignment. This Agreement may be assigned by Lender. Borrower may not assign its interest in, or obligation under, this Agreement except with the prior written consent of Lender. Subject to the forgoing, all of the terms, covenants, conditions, representations and warranties hereof shall inure to the benefit of, and be binding upon, the successors and assigns of Lender and Borrower.

     13.7 Interpretation and Venue. This Agreement shall be governed and interpreted under Rhode Island law. The captions of the paragraph of this Agreement are for convenience only and do not define or limit any terms or provisions. Time is of the essence in the performance of this Agreement by Borrower. The invalidity or unenforceability of any one or more provisions of this Agreement will in no way affect any other provision.

     13.8 Preparation of Agreement. The parties hereto acknowledge that this Agreement has been negotiated and prepared in an arms-length transaction and that both Lender and Borrower have negotiated all the terms contained herein. Accordingly, the parties agree that neither party shall be deemed to have drafted the Agreement and the Agreement shall not be interpreted against either party as the draftsman.

82

     13.9 Other Acts and Documents. The parties agree to undertake such other acts and execute such other documents as may be reasonably necessary to effect the purpose and intent of this Agreement.

     13.10 Merger. This Agreement represents the culmination of all prior negotiations, representations, and agreements between the parties with respect to the transaction contemplated hereby. All such prior negotiations, representations, and agreements are merged herein.

     13.11 Advice of Counsel. Each party acknowledges to the other that such party has been advised by legal counsel in connection with the negotiation and execution of this Agreement and that each party understands the terms and conditions contained herein and that each has entered into this Agreement voluntarily.

     13.12 JURY WAIVER. TO THE FULLEST EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH OF BORROWER AND LENDER HEREBY KNOWINGLY, VOLUNTARILY, INTENTIONALLY AND IRREVOCABLY WAIVES ANY AND ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND OR CLARIFY ANY RIGHT, POWER, REMEDY OR DEFENSE ARISING OUT OF OR RELATED TO THIS AGREEMENT, THE OTHER INVENTORY LOAN DOCUMENTS, OR THE TRANSACTIONS CONTEMPLATED HEREIN OR THEREIN, WHETHER SOUNDING IN TORT OR CONTRACT OR OTHERWISE, OR WITH RESPECT TO ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN) OR ACTIONS OF ANY PARTY; AND EACH AGREES THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A JUDGE AND NOT BEFORE A JURY. EACH OF BORROWER AND LENDER FURTHER WAIVES ANY RIGHT TO SEEK TO CONSOLIDATE ANY SUCH LITIGATION IN WHICH A JURY TRIAL HAS BEEN WAIVED WITH ANY OTHER LITIGATION IN WHICH A JURY TRIAL CANNOT OR HAS NOT BEEN WAIVED. FURTHER, BORROWER HEREBY CERTIFIES THAT NO REPRESENTATIVE OR AGENT OF LENDER, INCLUDING LENDER’S COUNSEL, HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT LENDER WOULD NOT, IN THE EVENT OF SUCH LITIGATION, SEEK TO ENFORCE THIS WAIVER OF RIGHT TO JURY TRIAL PROVISION. BORROWER ACKNOWLEDGES THAT THE PROVISIONS OF THIS SECTION ARE A MATERIAL INDUCEMENT TO LENDER’S ACCEPTANCE OF THIS AGREEMENT AND THE OTHER INVENTORY LOAN DOCUMENTS.

     13.13 Accounting Terms. All accounting terms not specifically defined herein shall be construed in accordance with GAAP. When used herein, the term “financial statement” shall include all notes and schedules thereto.

     13.14 Construction. Unless the context of any provision of this document clearly requires otherwise, references to the plural include the singular, references to the singular include the plural, the term “including” is not limiting, and the term “or” has, except where otherwise indicated, the inclusive meaning represented by the phrase

83

“and/or”. Whenever the context requires, all words used in the singular will be construed to have been used in the plural, and vice versa, and each gender will include any other gender. The words “hereof,” “herein,” “hereby,” “hereunder,” and similar terms in this Agreement refer to this Agreement as a whole and not to any particular provision of this Agreement. Section, paragraph, exhibit and similar references are to this Agreement unless otherwise specified. Any reference in this Agreement to the Inventory Loan Documents or any other Agreement to which Lender and Borrower are a party shall include all alterations, amendments, changes, extensions, modifications, renewals, replacements, substitutions and supplements thereto.

     13.15 Schedules and Exhibits. All of the schedules and exhibits attached to this Agreement shall be deemed incorporated herein by this reference.

     13.16 Amendment. This Agreement (including all exhibits and schedules hereto) may not be amended or modified, and no term or provision hereof may be waived, except by a written instrument signed by all of the parties hereto.

     13.17 Counterparts; Effectiveness. This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signature thereto and hereto were on the same instrument. This Agreement shall become effective upon Lender’s receipt of one or more counterparts hereof signed by Borrower and Lender. Delivery by any party hereto of an executed counterpart of a signature page of this Agreement by email, facsimile or any similar electronic transmission shall be as effective as delivery of a manually executed counterpart of this Agreement.

     13.18 Lender Not a Fiduciary. The relationship between Borrower and Lender is solely that of debtor and creditor, and Lender has no fiduciary or other special relationship with Borrower, and no term or provision of any of the Inventory Loan Documents shall be construed so as to deem the relationship between Borrower and Lender to be other than that of debtor and creditor.

     13.19 Intentionally Omitted.

     13.20 Borrower’s Knowledge. As used herein the term “to Borrower’s actual knowledge” or “to Borrower’s knowledge” is intended to mean to the actual knowledge of employees, officers, contractors or in-house attorneys of DRC or any subsidiaries or Affiliates of DRC and its outside law firms and attorneys who have been involved with or undertaken due diligence in connection with the Bankruptcy Case, Sale Order, APA or the Acquired Assets.

     13.21 Directly or Indirectly. Where any provision in the Agreement refers to action to be taken by any Person, or which such Person is prohibited from taking, such provisions shall be applicable, whether such action is taken directly or indirectly by such Person.

84

     13.22 Intentionally Omitted.

     13.23 No Duty. All attorneys, accountants, appraisers, consultants, custodians and other professionals retained by Lender shall have the right to act exclusively in the interest of Lender and shall have no duty of disclosure, duty of loyalty, duty of care or other duty or obligation of any type or nature whatsoever to Borrower, or any other Person.

     13.24 Reimbursement for Taxes. Borrower will promptly, upon written demand of Lender, reimburse Lender for any taxes assessed against Lender by any state (with the exception of income taxes payable by Lender) which is on account of or measured by the interest income received by Lender under the Mortgaged Property assigned to Lender pursuant to this Agreement or in any way imposed upon Lender in connection with the transactions contemplated hereunder, including, without limitation, any general intangible tax or documentary tax.

     13.25 Intentionally Omitted.

     13.26 Intentionally Omitted.

     13.27 Sale of Participation Interests in Inventory Loan. Borrower acknowledges that Lender may seek to sell participation interests in the Inventory Loan to one or more participants and Borrower agrees to cooperate fully with Lender in facilitating such process and hereby consents to any dissemination of information and providing documentation in connection therewith. Borrower shall be required to transact business solely with Lender and shall not be required to deal with participants directly.

     13.28 No Third Party Beneficiaries. Lender’s inspection, review or approval of matters pertaining to the Club, the Resorts and Inventory Collateral has no purpose other than to determine investment quality from Lender’s point of view and is not done for the benefit of anyone other than Lender. Any “approval” by Lender or any of its agents with respect to any plan or specification or any resulting structure or improvement means only that Lender find the same unobjectionable for investment purposes, and no such approval or consent by Lender or authorization to proceed shall imply or be construed as any representation that any such plans or specifications are suitable for any particular purpose, or that the resulting structure or improvement or any materials incorporated therein are safe or suitable for any particular purpose or have any particular value or actually cost the amount reputedly paid therefor. Under no circumstances shall any Person whomsoever (other than the parties to this Agreement and their respective permitted successors and assigns) be deemed a beneficiary of the terms, conditions, covenants and agreements contained in this Agreement or any other Inventory Loan Documents or Loan Documents.

     13.29 Non-Public Information; Confidentiality.

85

               (a) Lender acknowledges and agrees that it may receive material non-public information hereunder and under the other Inventory Loan Documents concerning the Borrower and its Affiliates and agrees to use such information in compliance with all applicable requirements of law (including United States Federal and state securities laws and regulation).

               (b) Lender agrees to use all reasonable efforts to maintain the confidentiality of information obtained by it pursuant to any Inventory Loan Document and designated in writing by Borrower or any of its Affiliate(s), as the case may be, as confidential, except that such information may be disclosed (i) with such Person’s consent, (ii) to the extent such information presently is or hereafter becomes (A) publicly available other than as a result of a breach of this Section 13.29 or (B) available to Lender from a source (other than Borrower or any of its Affiliates) not known by them to be subject to disclosure restrictions, (iii) to the extent disclosure is required by applicable requirements of law or other legal process or requested or demanded by any Governmental Authority, and (iv) to current or prospective assignees or participants, in each case to the extent such assignees or participants agree to be bound by provisions substantially similar to the provisions of this Section 13.29.

[SIGNATURES BEGIN ON FOLLOWING PAGE]

86

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year set forth above.

		LENDER:
		TEXTRON FINANCIAL CORPORATION,
		a Delaware corporation
		By:		/s/ Xxxx Xxxxxx
		Name:		Xxxx Xxxxxx
		Title:		Vice President
		BORROWER:
		ILX ACQUISITION, INC,
		a Delaware corporation
		By:		/s/ Xxxxx X. Xxxxxx
		Name:		Xxxxx X. Xxxxxx
		Title:		Exec VP & CEO

Inventory Loan and Security Agreement Signature Page

EXHIBIT A
List of Acquired Assets as of Closing Date

     All capitalized terms used in this Exhibit A and not defined in this Exhibit A or in the Agreement shall have the meanings ascribed to such terms in the Asset Purchase Agreement.

     All assets of Sellers as of the Closing Date other than the Excluded Assets, including but not limited to the following listed assets, properties, and rights, subject to any assignable warranties or other rights Sellers may have against any third party with respect thereto (all of the assets and rights to be sold and purchased hereunder are referred to herein collectively as the “Acquired Assets”):

     (a) all of Sellers’ rights under all Contracts, including, inter alia:

     (i) all those executory Contracts, if assignable, relating to the Acquired Assets or Assumed Liabilities that relate to the Business, as set forth in Exhibit A-1, that are assumed and assigned in accordance with Section 365 of the Bankruptcy Code by order of the Court; and

     (ii) all Property Management Agreements, including agreements between Sellers and: (a) Xxxx’x Ranch Owners’ Association; (b) The Inn at Los Abrigados Owners Association; (c) Premiere Vacation Club; (d) ILX Xxxx Rock Incorporated; (e) Golden Eagle Resort, Inc.; (f) Varsity Clubs of America — South Bend Chapter; (g) Varsity Clubs of America — Tucson Chapter; (h) Sedona Vacation Club; and (i) any other management contracts or similar contracts to provide management services for a fee, all as set forth on Exhibit A-2.

     (b) all of Sellers’ Accounts, including, inter alia, all Timeshare Loans as set forth on the Schedule of Timeshare Loans attached hereto as Exhibit A-3, including Timeshare Loans in default or in process of foreclosure, together with inter alia, all Timeshare Loan Files, or certified copies thereof (or copies of custodial receipts evidencing the custody and contents thereof), exclusive of Resort Funding LLC’s holdbacks and Timeshare Loans and the M&I Timeshare Loans, as set forth on Exhibit A-4; provided, however, that all proceeds in excess of Five Hundred Thousand Dollars ($500,000), of the pre-petition ineligible receivables that are ninety (90) days or less delinquent, as set forth on Exhibit A-5”), will be remitted to the unsecured creditor pool (the $500,000 is inclusive of forgiveness of bad debt and upgrades);

     (c) One Hundred Percent (100%) of Sellers’ unsold Timeshare Interests wherever located and however held, including (i) Declarants’ Rights with respect to Club memberships, including those that are in default, (ii) all unsold Timeshare Interests in the Club immediately prior to the Closing Date as set forth on Exhibit A-6, it being understood and for the purpose of clarity, Premiere Development Incorporated shall cause Club to transfer all unsold Timeshare Interests the Club holds to Purchaser on the Closing Date;

Exhibit A-1

     (d) all Real Property of the Sellers, as more particularly described in Exhibit A-7, all unsold Timeshare Property and FF&E owned by the Sellers, including, inter alia, (i) all sales and marketing centers; (ii) the lease with Indian Xxxxx Partners for 00 Xxxxxx Xxxx in Sedona, Arizona; and (iii) all other leases assumed by Purchaser as set forth on Exhibit A-7;

     (e) all rights of Sellers as declarant, developer, or seller under the Membership Plan and any other Resort-related, Timeshare Property-related, Club-related or other Real Property-related document or instrument listed on Exhibit A-8 (collectively, the “Declarants’ Rights”), including, inter alia, all rights of any of the Seller, including Premiere Development Incorporated, as seller under the Membership Plan; and

     (f) all other Seller’s assets, including, but not limited to: (i) pre-paid marketing certificates; (ii) all books and records related to sold Timeshare Interests and sold Timeshare Property, including Purchase Contracts, which books and records constitute all Purchase Contracts and records related to the sale of Timeshare Interests and Timeshare Property held by Sellers; (iii) all Reservation Systems, including the Gipsy Software system; and (iv) to the extent not included above, all Intellectual Property, Documents, Instruments and General Intangibles.

Exhibit A-2

EXHIBIT A-1
Executory Contracts

(Attached)

Executory Contracts

To the extent assignable, any of Sellers’ interests in the agreements to manage:

	•		Xxxx’x Ranch Vacation Club
	•		Sedona Vacation Club
	•		Premiere Vacation Club
	•		Premiere Vacation Club at Xxxx Rock
	•		The Inn at Los Abrigados Owners Association

To the extent assignable, any interests of VCA Management Incorporated (a non-Seller) in agreements to manage:

	•		Varsity Clubs of America — South Bend Chapter
	•		Varsity Clubs of America — Tucson Chapter

To the extent assignable, any interest of Golden Eagle Resort, Inc. (a non-Seller) in the agreement to manage the Golden Eagle Resort Condominium Association.

To the extent assignable, any of Sellers’ interests in the following executory contracts:

	•		Premiere Vacation Club Membership Plan
	•		Sedona Vacation Club Membership Plan
	•		Xxxx’x Ranch Vacation Club Membership Plan
	•		Varsity Clubs of America — Tucson Chapter Membership Plan
	•		Varsity Clubs of America — South Bend Chapter Membership Plan
	•		Condominium and Timeshare Ownership Declaration for Golden Eagle Resort, a Condominium
	•		Declaration of Covenants, Conditions and Restrictions for The Inn at Los Abrigados
	•		Lease with Option to Purchase by and between ILX Resorts Incorporated and Indian Xxxxx Partners for lease of property at 00 Xxxxxx Xxxx, Xxxxxx, Xxxxxxx
	•		Contract of Services by and between ILX Resorts Incorporated and Grupo Administrativo Vacation S.A. de C.V. dated September 30, 2009 regarding leasing of employees

EXHIBIT A-2
Property Management Agreements

(Attached)

Property Management Agreements

To the extent assignable, any of Sellers’ interests in the following management agreements:

	§		Management Agreement between ILX Resorts Incorporated and Premiere Vacation Club, effective January 6, 2008, as amended
	§		Management Agreement between Golden Eagle Resort, Inc., and Golden Eagle Resort Condominium Association, effective June 1, 1992, as amended
	§		Management Agreement between VCA Management Incorporated and Varsity Clubs of America — Tucson Chapter, effective July 20, 1995, as amended
	§		Management Agreement between VCA Management Incorporated and Varsity Clubs of America — South Bend Chapter, effective September 1, 1994, as amended
	§		Management Agreement for The Inn at Los Abrigados Owners Association between The Inn at Los Abrigados Owners Association and ILX Incorporated, dated November 25, 1997, as amended
	§		Management Agreement between ILX Incorporated and Xxxx’x Ranch Owners Association, effective April 13, 1995, as amended;
	§		Management Agreement between ILX Resorts Incorporated and ILX Xxxx Rock Incorporated, effective December 28, 2000, as amended.”
	§		Management Agreement between Sedona Vacation Club and ILX Resorts Incorporated, effective September 10, 2001.

To the extent assignable, any of Sellers’ interests in the agreements to manage:

	§		Varsity Clubs of America — South Bend Chapter
	§		Varsity Clubs of America — Tucson Chapter
	§		The Golden Eagle Resort

To the extent assignable, any of Sellers’ interests in and to any and all other documents and instruments and any amendments relating to or in any way connected with the agreements referred to above.

EXHIBIT A-3
Timeshare Loans

(Attached)

Timeshare Loans

Attached hereto are schedules of Timeshare Loans all of which are as of May 31, 2010 except (i) notes receivable assigned to Pinnacle for collections, (ii) notes receivable pending set up at Concord, and (iii) in house defaults all of which are as of March 31, 2010.

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER		NAME		INTEREST RATE				PAYMENT AMOUNT				CURRENT BALANCE			CONTRACT DATE			ORIGINAL LOAN AMOUNT				ORIGINAL TERM
0000000000		XXXXX, XXXXX X.			17.9				161.5				2531.27			5/20/2001			8995				120
4130041749		XXXXXXXXXXX,XXXXX			17.9				169.67				57.81			7/30/2001			8095				84
4130047575		XXXXXXXXX, XXXX			17.9				226.14				7425.03			8/14/2003			12595				120
4130048615		XXXXXXX, XXXXX X.			17.9				126.39				2159.26			1/5/2004			6030				84
4130048891		FALCON SR., XXXXXXX			17.9				226.14				8687.05			2/23/2004			12595				120
4130049592		XXXXXX, XXXXXX			17.9				161.5				5849.46			5/14/2004			8995				120
4130050215		XXXXXXXXXXXX, XXXXXX X.			17.9				188.53				4401.2			7/27/2004			8995				84
4130050598		XXXXXX, XXXXX X.			17.9				169.67				4981.97			8/6/2004			8095				84
0000000000		XXXXXXXX, XXXXX X.			17.9				131.94				2865.85			11/2/2004			6295				84
4130051448		XXXXX, XXXX X.			17.9				169.67				4771.21			12/21/2004			8095				84
0000000000		XXXXXXX, XXXXXX X.			17.9				122.62				3047.81			4/5/2005			5850				84
4130052319		XXXXX, XXXX X.			17.9				124.4				3320.86			4/26/2005			5935				84
4130052643		XXXXXXXXXX, XXXXXXX			17.9				169.67				4144.16			6/12/2005			8095				84
4130052876		XXXXXXX, XXXXXX X.			17.9				131.94				3517.33			7/12/2005			6295				84
4130053023		ST. XXXXXXXX, XXXX X.			17.9				145.15				3398.7			8/1/2005			6925				84
4130053820		XXXXXX, XXXXXX			17.9				188.53				5042.45			11/26/2005			8995				84
4130054281		XXXXX, XXXXXXX X.			17.9				131.94				3903.43			2/12/2006			6295				84
4130054462		XXXXX, XXXXX X.			17.9				169.67				5843.06			3/5/2006			8095				84
4130054579		HARNESS, XXXXX X.			17.9				131.94				3844.58			3/18/2006			6295				84
4130054672		XXXXXXXXXX, XXXXXXX			17.9				150.91				5354.85			3/28/2006			7200				84
0000000000		XXXXX. XXXXX X.			17.9				188.53				5814.34			3/31/2006			8995				84
4130054840		MAREE, XXXXXXXX X.			17.9				169.67				5309.16			4/13/2006			8095				84
4130054938		XXXXXXXXXX-XXXXXX, XXXXXXXX			17.9				132.05				3809.71			4/22/2006			6300				84
0000000000		XXXXXXX, XXXXXX X.			17.9				188.53				6211.51			5/29/2006			8995				84
4130055407		KARIM, XXXXXX X.			17.9				131.94				5606.59			6/17/2006			6295				84
4130055447		XXXXX JR., XXXXX L			17.9				113.19				4113.48			6/25/2006			5400				84
0000000000		XXXXXXXXX, XXXXXX			17.9				131.94				3549.32			6/25/2006			6295				84
4130055582		XXXXX, XXXXXXX			17.9				131.94				5260.07			7/15/2006			6295				84
4130055701		XXXXXXXXX, XXXXXX			17.9				131.94				3759.47			8/3/2006			6295				84
4130055713		XXXXXXX, XXXX X.			17.9				169.67				5142.15			8/5/2006			8095				84
4130055840		XXXXXX, XXXXXXX			17.9				169.67				6239.21			8/24/2006			8095				84
4130055884		XXXXX, XXXX X.			17.9				131.94				5278.96			9/3/2006			6295				84
0000000000		XXXXX, XXXXX X.			17.9				131.94				4333.61			9/16/2006			6295				84
4130056030		XXXXX, XXXXXXXX X.			17.9				188.53				6120.88			9/25/2008			8995				84
4130056138		XXXXXX IV, XXXXXX X.			17.9				150.81				5889.35			10/10/2006			7195				84
4130056231		XXXXXXX, XXXXX			17.9				188.53				6427.89			10/23/2006			8995				84
0000000000		XXXXXXX, XXXXX			17.9				131.94				5110.15			11/17/2006			6295				84
4130103882		XXXXX, XXXX X.			17.9				131.94				3572.97			8/7/2005			6295				84
4130103917		XXXX, XXXXXX X.			17.9				179.21				4504.93			11/5/2005			8550				84
4130103943		XXXXXX, XXXXXX X.			17.9				205.41				6503.84			1/6/2006			9800				84
4130103967		MARTINEZ JR., XXXXXX			17.9				264.09				8472.1			2/27/2006			12600				84
4130104034		XXXXXXX, XXXXX X.			17.9				131.94				4831.81			7/3/2006			6295				84
4130210265		XXXXXX XXXXX, XXXXXX DE XXXXX			17.9				302.05				3846.74			1/27/2006			11920				60
4130304201		XXXXX, XXXXX X.			16.9				183.31				4158.86			9/4/2002			8995				84
4130304438		XXXXXXX, XXXXX X.			14.9				157.68				4118.58			1/19/2003			9810.42				120
4130304883		XXXXXXXX, XXXXXX X.			16.9				165.07				2973.28			11/29/2003			8100				84
0000000000		XXXXX, XXXXXXXXX X.			16.9				229.48				6713.24			2/8/2004			13251.75				120
4130305124		XXXXX, XXXXX JO			16.9				154.74				3479.95			5/13/2004			8117.6				96
4130305604		XXXXXXXX, XXXXXXX X.			17.9				131.84				4797.57			5/19/2005			6290				84
4130305701		XXXXXX, XXXXXXX			17.9				132.05				5260.5			9/17/2005			6300				84
4130305745		XXXXX, XXXX XXX			17.9				179.21				6675.42			10/23/2005			8550				84
4130305851		XXXXX, XXXXX			17.9				179.58				5971.14			2/4/2006			8568				84
4130305866		XXXXXXXX, XXXXXX			10.9				88.68				2803.92			2/25/2006			5195				84
4130401166		XXXXXXX, XXXXXX X.			16.9				116.16				537.81			12/17/2002			5699.8				84
4130401495		XXXXXXXXX, XXXX XX			17.9				171.87				3530.93			7/17/2005			8200				84
4130401657		XXXXX, XXXXXX			17.9				153.51				7766.9			9/29/2006			8550				120
4130510552		XXXXXX, XXXX X.			16.9				153.31				638.3			6/16/2003			8853.2				120
0000000000		XXXXX, XXXXXX JO			16.9				214.58				7937.62			9/7/2003			12391.21				120
0000000000		XXXXXX, XXXXX XXXXXX			16.9				140.75				5172.81			11/12/2003			8128.1				.120
4130510811		XXXXXXX, XXXXXXX X.			16.9				246.31				4217.38			11/15/2003			12086.97				84
4130510860		XXXXXX, XXXXXXX X.			16.9				207.83				7330.55			12/13/2003			12001.46				120
4130511096		XXXXXX, XXXXXX X.			16.9				158.05				1800.61			4/27/2004			7755.52				84
4130511151		XXXXXX, XXXXXXXXX X.			16.9				166.2				4590.9			5/25/2004			8155.44				84
4130511166		XXXX. XXXXXXX X.			16.9				240.56				10851.5			5/30/2004			13891.69				120
4130511194		XXXXXX, XXXX XXXX			16.9				130.13				1300.32			6/15/2004			6385.31				84
4130511208		XXXXX, XXXXXXX X.			16.9				197.26				7572.54			6/21/2004			11391.37				120
4130511427		XXXXXXXX SR., XXXXX X.			16.9				149.62				7031.24			11/6/2004			8640				120
4130600747		XXXXXX, XXXXXXX X.			16.9				183.22				3104.14			8/15/2004			8991				84
4130600862		XXXXXX XXXXXXXXX, XXXXX XXXXXXXX			16.9				112.49				3466.97			12/20/2004			5520				84
0000000000		XXXXXX, XXXX			17.9				130.16				3011.67			5/30/2005			6210				84
4130600978		XXXXXX, XXXXXXXX X.			17.9				236.02				10721.58			6/6/2005			13145.43				120
4130601012		XXXXXXX XXXXXXX, XXXXX AHYOEE			17.9				254.87				2268.82			6/26/2005			12160.22				84
4130601281		XXXXXX, XXX X.			17.9				302.05				3711.37			3/17/2006			11920				60
0000000000		XXXXX, XXXXX X.			17.9				166				4970.21			5/12/2006			7920				84
4130601487		XXXXXX XX XXXXXXXX, XXXXXX			17.9				151.21				8250.97			9/2/2006			10210.41				120
4130700516		XXXXXXXX, XXXXXXXX X.			16.9				167.82				4037.19			6/27/2002			9691.27				120
4130700566		XXXXXXX, XXXXXX			16.9				168.19				241.12			7/10/2002			8253.28				84
4130700625		XXXXXX, XXXXXX X.			17.9				210				5745.29			7/21/2002			11696				120
4130701750		MILAN, XXXXXXXXXX X.			16.9				155.77				6017.57			3/8/2003			8995				120
0000000000		MARROOUIN, XXXXXXX X.			17.9				122.62				272.96			3/17/2003			5850				84
4130701862		XXXXX, XXXXXXX X.			16.9				128.28				392.81			3/22/2003			6295				84
4130702048		VILLA, XXXXXXXXX X.			16.9				389.54				12090.64			4/18/2003			22495				120
4130702097		XXXXX, XXXXXXXX X.			16.9				155.77				4476.12			4/25/2003			8995				120
4130702972		VAN ZYVERDEN, XXXXXXX			17.9				188.53				1402.62			8/24/2003			8995				84
4130703089		XXXXXX, XXXXX X.			17.9				254.66				3019.62			9/25/2003			12150				84
0000000000		XXXXXX, XXXXXXX			17.9				131.94				1644.58			10/11/2003			6295				84
4130703361		XXXXXXXX. XXXXXXXX			16.9				173.32				342.31			1/19/2004			8505				84
4130703944		XXXXXXXX, XXXXXX X.			17.9				157.44				5983.89			8/5/2004			8768.88				120
4130704244		XXXXXXX, XXXXX			17.9				158.2				3381.37			12/23/2004			8811				120
0000000000		XXXX, XXXXX			17.9				177.32				3484.86			1/3/2005			8460				84
0000000000		XXXX, XXXXXXX			17.9				130.16				3283.47			2/1/2005			6210				84
4130704402		XXXXXXXXX, XXXXXXXXXX			17.9				139.59				2825.73			3/19/2005			6660				84
4130704523		XXXXXXXX, XXXXX			17.9				139.41				2913.83			6/7/2005			6651				84
0000000000		XXXXXXXX, XXXXX X.			16.9				238.09				6718.31			6/22/2003			13749.13				120
4131502001		XXXXX, XXXXXXXXXXX			16.9				243.53				4098.14			3/22/2004			14063.46				120
4131502087		CARNEY JR., XXXX X.			16.9				128.9				4598.03			4/27/2004			7443.71				120
4131502156		XXXXXX, XXXXX X.			16.9				144.99				5340.85			6/12/2004			8145				112
4131502167		PRINCE JR., XXXXXX X.			16.9				119.3				3149.95			6/18/2004			6600				108
4131502387		XXXXXX, XXXXX X.			16.9				147.07				5916.72			10/31/2004			8492.72				120
4131502586		XXXXXXXX, XXXXXXX			16.9				335.55				15256.5			3/18/2005			19377.01				120
4131502800		XXXXXX, XXXXXXX X.			17.9				161.25				6471.42			9/10/2005			8961.14				120
4131502882		XXXXXX, XXXXXX			17.9				164.73				6785.91			10/16/2005			9175				120
4131502980		XXXXXX-XXXXX, XXXX			17.9				221.38				9835.2			11/21/2005			12330				120
4131503087		PERCY, XXXXX X.			17.9				257.45				11900.26			1/11/2006			14339.01				120
4131503114		XXXXXXX, XXXXXX X.			17.9				150.45				6863.27			2/4/2006			8275.49				116

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER		NAME		INTEREST RATE				PAYMENT AMOUNT				CURRENT BALANCE				CONTRACT DATE		ORIGINAL LOAN AMOUNT				ORIGINAL TERM
4131503207		XXXXXXX, XXXXXXX X.			17.9				379.84				13374.43			4/13/2006			18122.44				84
0000000000		XXX, XXXXX X.			17.9				247.88				7757.45			9/27/2006			11826.75				84
4135000138		XXXXXXX, XXXXXXX X.			16.9				224.28				8859			12/29/2004			12951.77				120
0000000000		XXXXXX III, AUGUST K.			17.9				225.82				9700.92			5/12/2005			12577.34				120
0000000000		XXXXX, XXXXXXXXXXX X.			17.9				188.53				6409.17			6/28/2005			8995				84
4135000772		XXXXXXX, XXXXX X.			17.9				169.67				4021.67			9/17/2005			8095				84
4135000833		WEST, XXXXX XXXXX			17.9				209.49				5327.66			10/8/2005			9207.62				72
4135001091		XXXXXXX, XXXXXX X.			12.9				157.09				6262.36			2/8/2006			7845.73				72
4135001422		RYE, XXXXXX X.			17.9				225.62				9349.17			6/4/2006			12565.92				120
0000000000		XXXXXX, XXXX X.			17.9				124.77				3892.87			6/10/2006			5952.68				84
4135001439		XXXXX, XXXXX X.			17.9				217.14				9826.16			6/11/2006			12094.01				120
4135001540		XXXXX, XXXXX XXXXX			17.9				244.26				10817.79			7/29/2006			13604.2				120
4135004215		XXXX, XXX X.			17.9				231.13				11050.06			12/23/2006			12873.4				120
4135004337		XXXXXXX, XXXX X.			17.9				274.61				13234.93			1/4/2007			15295				120
4135004344		XXXXXX, XXXXX X.			17.9				152.99				8154.99			1/6/2007			8521.34				120
4135004519		XXXXXX, XXXXXXXX X.			17.9				197.96				6915.69			1/20/2007			9445				84
4135004615		XXXXX, XXXXX X.			17.9				256.02				12770.22			1/29/2007			14259.6				120
4135004884		XXXXXXX, XXXXXXX X.			17.9				248.85				11999.01			2/21/2007			13860				120
4135004928		XXXXXXX, XXXXXXX E			17.9				165.18				8189.17			2/26/2007			9200				120
0000000000		XXXXXXX, XXXX X.			17.9				313.7				16446.41			2/27/2007			17472.21				120
4135005017		XXXXXXXX, XXXXX			17.9				282.69				13991.02			3/8/2007			15745				120
4135005024		XXXX, XXXX			17.9				185.74				8931.21			3/10/2007			10345				120
0000000000		XXXXXXXX, XXXXXXXX			17.9				169.67				6670.99			3/31/2007			8095				84
4135005368		XXXXXXXX, XXXXXXX			17.9				281.06				12382.94			4/6/2007			13410				84
4135005384		XXXX, XXX X.			17.9				169.67				7571.58			4/7/2007			8095				84
4135005475		XXXXXX, XXXXXXX			17.9				161.5				7929.44			4/15/2007			8995				120
0000000000		XXXXXX-XXXX, XXXXXXXX			17.9				113.18				3689.1			4/22/2007			5400				84
4135005618		XXXXXXX, XXXXX X.			17.9				528.07				20460.83			4/27/2007			25195				84
4135005709		XXXX, XXXXX			17.9				320.57				11358.17			5/5/2007			15295				84
0000000000		XXXXXXX, XXXXXXX			17.9				177.66				9393.76			5/26/2007			9895				120
4135005962		XXXXXX, XXXXX X.			17.9				169.67				7295.54			5/30/2007			8095				84
4135006199		XXXXXXX, XXXXXXX XXX			17.9				186.75				6948.6			6/22/2007			8910				84
4135006397		XXX, XXXXX			17.9				145.34				7165.49			7/10/2007			8095				120
4135006530		XXXXXXX-XXXXXXXXXX, XXXXXXXX			17.9				177.09				8471.86			7/23/2007			9863.68				120
4135006704		XXXXXXXXXX, XXXXX X.			17.9				197.96				7267.02			8/11/2007			9445				84
4135007160		XXXXXXXXX, XXXXXX X.			17.9				177.66				8929.57			9/22/2007			9895				120
4135007218		XXXXXX, XXXXX X.			17.9				173.62				8792.05			9/27/2007			9670.39				120
4135007310		XXXXXXXXXXX, XXXX			17.9				178.15				7033.48			10/6/2007			8500				84
4135007467		XXXXXXXXX, XXXXXXX X.			17.9				226.26				8561.57			10/20/2007			10795				84
4135007610		XXXXXXXX, XXXXX			17.9				274.61				14148.88			11/1/2007			15295				120
4135007784		XXXXXX, XXXXXX X.			17.9				150.8				6141.61			11/17/2007			7195				84
4135007808		XXXXXXXX, XXX			17.9				150.8				6303.6			11/19/2007			7195				84
4135007846		XXXXX, XXXXX			17.9				150.91				6309.02			11/25/2007			7200				84
4135007870		XXXXX, XXXXXX X.			17.9				306.11				16369.85			11/27/2007			17049.7				120
4135007897		XXXXXXXX, XXXXX X.			12.5				128.94				6008.48			11/30/2007			7195				84
4135007926		XXXXXXX, XXXXXXX			17.9				215.42				5840.63			12/2/2007			5967.05				36
4135007954		XXXXXXXXX, XXXXXXX X.			13.9				134.44				5544.56			12/6/2007			7195				84
4135007962		XXXXXXX JR., XXXXXXX X.			17.9				225.36				12090.01			12/8/2007			12551.91				120
4135007999		XXXX, XXXXXXX X.			17.9				207.39				9464.34			12/11/2007			9895				84
0000000000		XXXXXXXX, XXXXXX X.			17.9				150.81				5952.33			12/15/2007			7195.5				84
4135008042		HILLARY, XXXXX X.			17.9				274.62				13788.56			12/17/2007			15295.5				120
4135008159		XXXX, XXXXX X.			16.9				186.93				9967.94			1/5/2008			10795				120
4135006160		XXXX, XXXX			17.9				150.8				7122.62			1/5/2008			7195				84
4135008293		XXXXX, XXXXXX			17.9				152.79				6948.62			1/19/2008			7290				84
4135008501		XXXXXX, XXXXXX X.			17.9				282.12				14409.24			2/16/2008			15713.16				120
4135008549		XXXXXX, XXXXXXXXX X.			17.9				150.8				5972.88			2/20/2008			7195				84
4135008594		XXXXXX, XXXXXX			8.9				232.76				9694.36			2/25/2008			11239.3				60
4135008972		XXXXXXXX, XXXXXX			17.9				226.26				10744.76			4/6/2008			10795				84
4135009033		XXXXXXX, XXXXXXX			17.9				207.39				9101.72			4/12/2008			9895				84
0000000000		XXXXXXXXX, XXXXXX XXXXX			14.75				129.21				6593.94			4/23/2008			6745				84
4135009219		XXXXXXXX, XXXXX			17.9				245.12				9705.46			4/30/2008			11695				84
4135009459		XXXXXXXX, XXXXXXXXX X.			17.9				169.68				7385.87			5/31/2008			8095.5				84
4135009479		XXXX, XXXXXXXX			17.9				131.94				5422.06			6/1/2008			6295				84
0000000000		XXXXX, XXXX			17.9				320.57				14750.73			6/7/2008			15295				84
4135009545		XXXXXXXX, XXX X.			17.9				226.27				10229.09			6/9/2008			10795.5				84
4135009571		XXXXXXXX, XXXX			17.9				235.79				10095.74			6/13/2008			11250				84
0000000000		XXXX, XXXXX X.			17.9				154.68				6571.61			6/21/2008			7380				84
0000000000		XXXXXXXX, XXXXXX X.			17.9				169.77				7392.34			6/24/2008			8100				84
0000000000		XXXXX, XXXXXXXX			17.9				111.29				4669.29			7/4/2008			5310				84
0000000000		XXXXX, XXXXX X.			17.9				301.81				13444.59			7/13/2008			14400				84
4135009944		XXXXXX, XXXXX			17.9				253.61				13287.32			7/26/2008			14125.42				120
4135009963		XXXXXX, XXXXXX			17.9				162.22				7293.82			7/27/2008			7740				84
4135010002		XXXXXXX, XXXX			14.9				114.09				4954.15			7/31/2008			5929.58				84
0000000000		XXXXXXXX, X.X.			17.9				201.73				8365.64			8/1/2008			9625				84
4135010063		XXXXXX, XXXX			17.9				131.94				5464.01			8/6/2008			6295				84
0000000000		XXXXXX, XXXXXXX			17.9				320.68				12771.71			8/7/2008			15300				84
4135010108		XXXX, XXXXXXX X.			17.9				198.07				8837.03			8/10/2008			9450				84
4135010363		XXXXXX, XXXXX			17.9				347.19				14536.84			9/13/2008			16565				84
4135010424		XXXXXX, XXXXXX			17.9				131.94				5909.78			9/21/2008			6295				84
4135011140		XXXXX, XXXXX X.			17.9				158.45				6798.32			12/22/2008			7560				84
0000000000		XXXXXXXXXX XXXXX, XXXX C			17.9				172.31				3388.37			7/28/2006			6800				60
4130210322		XXXXXXX XXXXXXXX, XXXX X			17.9				182.77				7502.33			10/9/2006			8720				84
4130600622		XXXXXXX XXXXXXX, XXXXX DEL CARMEI			16.9				112.69				1171.65			5/27/2004			4544				60
4130600720		XXXXXXX XXX XXXXXXXX, XXXXXXX X.			16.9				112.49				3357.04			7/28/2004			5520				84
4130601052		XXXXXX XXXXXXXX, XXXXXX			17.9				200.69				737.45			7/22/2005			0000				00
0000000000		XXXXXX XXXXXX, XX. XXXXXX			17.9				210.83				928.3			8/11/2005			8320				60
4130601119		XXXX XXXXXX, XXXXXXX			17.9				149.38				6108.98			9/14/2005			8320				120
4130601125		XXXXX XXXXX, XXXXXXX			17.9				210.84				1844.1			9/17/2005			8320.67				60
4130601137		HERNANDEZ N., XXXXX DE XXXXX			17.9				159.89				7802.01			9/24/2005			8905				120
0000000000		XXXX V., XXXXXXX			17.9				249.84				8835.15			6/27/2006			11920				84
4130601435		XXXXXXX XXXXXX, XXXXXX XXXXX			12.9				233.17				4320.46			7/25/2006			6930				36
4130601454		XXXXXX XXXXX, XXXXX XXXXXXX			17.9				174.39				6323.81			8/9/2006			8320				84
4130601457		EVANGELISTA V., XXXXXXX			17.9				123.75				3837.61			12/20/2006			5904				84
4130601461		ROMAN L., XXXXX MA			17.9				191.15				6755.73			8/12/2006			9120				84
0000000000		NUZ V., XXXXX XXXXX			17.9				125.76				4296.23			8/21/2006			6000				84
4130601509		XXXXXX, XXXXX			17.9				182.77				7469.26			9/23/2006			8720				84
4130601513		XXXXX XXXXXX, XXXXXXXXX			17.9				174.39				5961.3			9/25/2006			8320				84
0000000000		XXXXXXXX, XXXXXX X.			17.9				160.15				1972.53			9/30/2006			6320				60
4135005125		IBARRA N., XXXX XXXXXX			17.9				309.36				12049.65			3/18/2007			14760				84
0000000000		XXXXX, XXXX XXXX			17.9				129.11				5536.66			3/24/2007			6160				84
4135007793		XXXXXXX, XXX			17.9				132.46				6066.55			11/17/2007			6320				84
4135008812		VERDUZCO L., XXXXXXX			17.9				360.83				9852.01			3/19/2008			14240				60
0000000000		XXXXXXX XXXXXXX, XXX XXXXXXXX			17.9				182.76				7271.25			5/31/2008			8720				84
4135009681		XXXXX XXXXXX, XXXX X.			0				541.67				735.32			6/25/2008			6500				12
0000000000		XXXXXX XXXXXXXXX, XXXXX XXXXXXX			17.9				338.05				13764.3			6/28/2008			16129.04				84

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER		NAME		INTEREST RATE				PAYMENT AMOUNT				CURRENT BALANCE				CONTRACT DATE		ORIGINAL LOAN AMOUNT				ORIGINAL TERM
4135009721		XXXXXX M., XXXXXXXXX			17.9				242.74				13158.44			6/30/2008			13520				120
4135009846		XXXXXXXX XXXXX, XXXXX XXXXX			17.9				132.46				5874.2			7/15/2008			6320				84
0000000000		VILLA A., XXXXXXX			17.9				170.92				8978.04			7/26/2008			9520				120
4135010127		XXXXXXXXX XXXXXXX, XXXXX XXXXXXXX			17.9				182.76				7411.22			8/12/2008			8720				84
4135010152		XXXXXXX XXXXXX, XXXXXX XXXXX			17.9				291.75				13201.77			8/17/2008			13920				84
4145009793		XXXXXXX, XXXXX XXXX			17.9				132.46				5911.24			7/8/2008			6320				84
4145010005		XXXXX XXXXX, VIRGINIA			17.9				132.46				5968.29			8/1/2008			6320				84
4145010076		XXXXXX XXXXX, XXXX XXXXXXX			17.9				132.46				5711.08			8/8/2008			6320				84
4145010796		XXXXXXX XXXXXX, XXXXXX XXXXX			17.9				132.46				5969.73			11/7/2008			6320				84
4101500913		XXXXXX, XXXXX			16.9				244.44				2861.06			8/24/2008			11995				84
4130045201		XXXXX, XXXXX			17.9				161.5				4743.13			10/4/2002			8995				120
0000000000		XXXXX, XXXXX			17.9				169.67				311.83			5/10/2003			8095				84
4130047227		XXXXXX, XXXX			17.9				226.14				8331.42			6/28/2003			12595				120
4130047346		XXXXX, XXXXXX			17.9				128.17				372.53			7/12/2003			6115				84
4130047548		XXXXXXXX, XXXXXX			17.9				169.67				2469.77			8/10/2003			8095				84
0000000000		XXXXXXX, XXXXXXX X.			17.9				131.94				2825.68			10/21/2003			6295				84
4130048246		XXXX, XXXXX X.			17.9				202.4				6203.82			11/8/2003			11272.91				120
0000000000		XXXXX, XXXX X.			17.9				162.23				995.16			11/22/2003			7740				84
4130048391		XXXXXXXXXXX, XXXXXX			17.9				131.94				1548.35			11/26/2003			6295				84
4130048726		XXXXXXX, XXXXX			17.9				131.94				2231.64			1/30/2004			6295				84
4130048748		XXXXXXX, XXXXXXX X.			17.9				131.94				1137.77			2/2/2004			6295				84
4130048888		XXXX, XXXXX			17.9				167.89				1255.63			2/22/2004			8010				84
4130049167		XXXXXXX, XXXXXX X.			17.9				123.66				2510.28			3/29/2004			5900				84
4130049257		XXXX, XXXXXXX X.			17.9				169.67				1269.16			4/7/2004			8095				84
0000000000		XXXXX, XXXXX X.			17.9				131.94				1102.65			5/8/2004			6295				84
4130049788		XXXXX, XXXXXX X.			17.9				131.94				1216.45			6/3/2004			6295				84
4130049835		XXXXXXXX, X. XXXXX			17.9				218.06				7219.03			6/9/2004			12145				120
0000000000		XXXXXXXX, X. XXXXX			17.9				234.22				7753.91			6/9/2004			13045				120
4130049866		XXXXXXX, XXXXX X.			17.9				167.68				2273.39			6/13/2004			8000				84
4130049961		XXXXXXX, XXXXXX X.			17.9				169.67				1708.22			6/25/2004			8095				84
4130049980		XXXX, XXXXXX X.			17.9				122.62				1337.06			6/27/2004			5850				84
0000000000		XXXX, XXXXXXX R			17.9				159.4				3094.72			6/27/2004			7605				84
0000000000		XXXXXXXX, XXXXXXX			17.9				122.51				1448.83			7/11/2004			5845				84
4130050093		XXXXX, XXXX X.			17.9				167.89				2463.43			7/11/2004			8010				84
4130050115		XXXXX, XXXXXXX			17.9				131.94				1438.79			7/13/2004			6295				84
4130050118		XXXXXXXX, XXXXX X.			17.9				190.23				8240.55			7/14/2004			10595				120
4130050199		SHUTTER, XXXX			17.9				188.53				2170.69			7/25/2004			8995				84
4130050240		XXXXX, XXXXX			17.9				124.5				637.05			7/30/2004			5940				84
4130050275		XXXXXXXX, XXX			17.9				131.94				3146.73			8/2/2004			6295				84
4130050290		XXXXXX, XXXXXX			17.9				169.67				1850.29			8/3/2004			8095				84
0000000000		XXXXXX, XXXXXXX X.			17.9				153.42				5693.29			8/9/2004			8545				120
4130050388		XXXXXXXX, XXXXXX X.			17.9				188.53				3513.03			8/14/2004			8995				84
4130050510		XXXXXX, XXXXX X.			17.9				188.53				3286.89			8/27/2004			8995				84
4130050520		XXXXXX, XXXXX X.			17.9				131.94				1547.92			8/29/2004			6295				84
0000000000		XXXX, XXXXX			17.9				130.16				2232.45			9/27/2004			6210				84
4130050864		XXXXXXXX, XXXXX X.			17.9				122.51				1271.31			10/4/2004			5845				84
4130050878		XXXXX, XXXXX X.			17.9				122.62				3789.74			10/5/2004			5850				84
4130050920		XXX, XXXXXXXXX M			17.9				167.89				2947.55			10/10/2004			8010				84
4130050929		XXXX, XXXXXXX X.			17.9				125.66				1758.02			10/11/2004			5995				84
4130050930		XXXXX, XXXXXX			17.9				167.68				3480.08			10/11/2004			8000				84
4130051189		XXXXXXX, XXXX			17.9				150.19				5860.95			11/13/2004			8365				120
4130051201		XXXXX, XXXXX			17.9				122.62				3165.46			11/15/2004			5850				84
4130051388		XXXXXX, XXXXXXXX			17.9				131.94				2168.28			12/11/2004			6295				84
4130051416		XXXX, XXXXXX XXXXX			17.9				122.62				1782.55			12/18/2004			5850				84
4130051478		XXXXX, XXXXXXX X.			17.9				188.53				2811.76			12/27/2004			8995				84
4130051738		XXXXX SR., XXXXXX X.			17.9				169.67				3200.2			2/13/2005			8095				84
4130051787		XXXXXXX, XXXX			17.9				120.73				1983.61			2/19/2005			5760				84
0000000000		XXXXXXXX, XXXXXX AND XXXXX X.			17.9				122.51				1874.91			2/27/2005			5845				84
4130052014		XXXXX, XXXXXXX X.			17.9				188.53				3513.03			3/18/2005			8995				84
0000000000		XXXXXXX, XXXXXX			17.9				122.62				2179.04			4/7/2005			5850				84
4130052238		XXXXXX, XXXXXXX			17.9				122.62				3474.78			4/13/2005			5850				84
4130052256		XXXXXXXXXX, XXXXXXX X.			17.9				131.94				2780.1			4/17/2005			6295				84
4130052372		XXXXXX, XXX X.			17.9				169.67				3038.59			5/3/2005			8095				84
4130052783		XXXXXXX, XXXXXX X.			17.9				169.67				4207.27			7/1/2005			8095				84
4130052801		GRANT, XXXXXXXX			17.9				131.94				3805.63			7/3/2005			6295				84
4130052852		XXXXXX, XXXXXX			17.9				188.53				4288.82			7/10/2005			8995				84
4130052935		XXXXXX, XXXXXX X.			17.9				115.28				2310.48			7/20/2005			5500				84
4130052948		XXXX, XXXX			17.9				131.94				2735.88			7/24/2005			6295				84
4130053010		XXXXXX, XXXXXXX			17.9				131.94				3805.63			7/31/2005			6295				84
4130053092		XXXXXXX, XXXXXXX X.			17.9				131.94				2950.3			8/13/2005			6295				84
4130053139		XXXXX, XXXXXXX XXXXX ST. AMANT			17.9				131.94				4136.1			8/20/2005			6295				84
4130053237		XXXX, XXXXXXX			17.9				169.67				4311.86			9/3/2005			8095				84
0000000000		XXXXXXXX, XXXXXXX X.			17.9				141.46				2579.98			9/4/2005			6750				84
4130053296		XXXX, XXXXXXXX X.			17.9				131.94				3033.08			9/11/2005			6295				84
4130053320		XXXXX, XXXXXXX			17.9				131.94				2825.68			9/13/2005			6295				84
4130053420		XXXXX, XXXXXX DIONE			17.9				131.94				4434.4			9/28/2005			6295				84
4130053428		XXXXXX, XXXXXX X.			17.9				169.67				4163.37			10/1/2005			8095				84
4130053452		XXXXXX, XXXXXX X.			17.9				179.21				3837.43			10/4/2005			8550				84
4130053516		XXXXXXX, XXXXX X.			17.9				169.67				4092.48			10/11/2005			8095				84
4130053543		XXXXXXX, XXXXX X.			17.9				161.5				7750.88			10/15/2005			8995				120
4130053735		XXXX, XXXXX			17.9				119.58				4223.77			11/9/2005			5705				84
4130053811		XXXXXX, XXXXXX			17.9				131.94				5278.38			11/23/2005			6295				84
0000000000		XXX XXXXX, XXXXXXX			17.9				161.5				6928.65			11/26/2005			8995				120
4130053861		XXXXX JR., XXXXXX X.			17.9				188.53				5330.64			12/3/2005			8995				84
4130053875		XXXXX, XXXX STERLING			17.9				131.94				2914.71			12/5/2005			6295				84
4130054035		XXXXXXXXXXX, XXXXX X.			17.9				339.44				9425.46			12/31/2005			16195				84
4130054069		XXXXX, XXXXXXX X.			17.9				161.5				6690.66			1/4/2006			8995				120
4130054135		XXXXXX, XXXXXX X.			17.9				207.4				4985.51			1/16/2006			9895				84
4130054154		XXXXXXXXX, XXXX			17.9				170.25				4479.77			1/19/2006			8122.5				84
4130054410		XXXX, XXX XXXXX			17.9				169.67				4185.89			2/26/2006			8095				84
4130054411		XXXXXX, XXXXXX X.			17.9				161.5				7091.21			2/26/2006			8995				120
4130054459		XXXXXX, XXXXXXX X.			17.9				131.94				3337.41			3/4/2006			6295				84
4130054513		XXXXXX, XXXX			17.9				131.94				3337.41			3/11/2006			6295				84
0000000000		XXXXXXXXX, XXXXX X.			17.9				131.94				4762.35			3/18/2006			6295				84
4130054704		XXXX, XXXXXXX			17.9				131.94				5150.32			4/1/2006			6295				84
4130054812		MICHEL, X. XXXXX			17.9				263.99				5565.97			4/10/2006			12595				84
4130054836		XXXXXXX, XXXXXXX X.			17.9				282.85				7729.42			4/13/2006			13495				84
4130054860		XXXXXXX, XXXXXX			17.9				188.53				6661.63			4/15/2006			8995				84
0000000000		XXXXXXXXX, XXXXXX			17.9				188.53				4884.7			4/16/2006			8995				84
4130054922		XXXXXX, XXXX			17.9				339.44				9202.57			4/21/2006			16195				84
4130055083		XXXXXXX, XXXXX X.			17.9				207.4				7669.04			5/7/2006			9895				84
4130055163		IOTTE, M. XXXX			17.9				131.94				4517.58			5/16/2006			6295				84
4130055172		XXXXXX XX., XXXXX X.			17.9				263.99				6998.94			5/17/2006			12595				84
4130055266		XXXXXXXXXX, XXXXXXXXXX			17.9				177.66				9556.31			5/28/2006			9895				120
4130055318		XXXXX, XXXXX X.			17.9				131.94				5357.85			6/3/2006			6295				84

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER		NAME		INTEREST RATE				PAYMENT AMOUNT				CURRENT BALANCE				CONTRACT DATE		ORIGINAL LOAN AMOUNT				ORIGINAL TERM
4130055341		XXXXX, XXXXXX X.			17.9				150.81				4046.87			6/6/2006			7195				84
4130055354		XXXXXXXX, XXXXXXX X.			17.9				153.42				6765.7			6/10/2006			8545				120
4130055405		XXXX, XXXXXX			17.9				113.19				3395.02			6/17/2006			5400				84
4130055422		XXXXXXXX, XXXXXXX X.			17.9				108.56				3666.45			6/19/2006			5179.5				84
4130055442		XXXXXXXXXX, CONCEPTION M.			17.9				169.67				6410.02			6/24/2006			8095				84
0000000000		XXXXXXXXXX, XXXXXXX X.			17.9				131.94				3880.34			6/24/2006			6295				84
4130055693		XXXXXXX, XXXXX X.			17.9				301.71				8356.63			8/1/2006			14395				84
4130055700		XXXXX, XXXXX			17.9				131.94				3730.45			8/2/2006			6295				84
4130055743		XXXXXX, XXXXXX X.			17.9				301.71				12052.81			8/8/2006			14395				84
4130055760		HAMBURGER, XXXXX X.			17.9				150.81				4176.15			8/11/2006			7195				84
4130055797		XXXXXXXXX, XXXX X.			17.9				188.53				5358.15			8/16/2006			8995				84
4130055804		XXXXXXX, XXXXX XXXXX			17.9				131.94				4829.67			6/17/2006			6295				84
4130055881		XXXXXXX, XXXX			17.9				161.5				7681.02			9/3/2006			8995				120
4130056031		XXXXXXX, XXXXXXX			17.9				207.4				7368.94			9/26/2006			9895				84
4130056097		XXXXXXXX, XXXX			17.9				190.69				9802.84			10/7/2006			10620.75				120
4130056178		XXXXXXXXXX, XXXX			17.9				150.81				4479.99			10/16/2006			7195				84
4130056191		XXXXXX, XXXXXX X.			17.9				161.5				7459.39			10/18/2006			8995				120
4130056210		XXXXXXXX, XXXX X.			17.9				188.53				7183.66			10/21/2006			8995				84
0000000000		XXXX, XXXXXXX X.			17.9				131.94				3644.47			10/25/2006			6295				84
4130056265		XXXXX, XXXXXXXX			17.9				131.94				4165.34			10/29/2006			6295				84
0000000000		XXXXXXX, XXXXX X.			17.9				131.94				4288.9			11/17/2006			6295				84
4130056384		XXXXXX, XXXXX X.			6				96.84				4199.04			11/17/2006			6295				84
0000000000		XXXXXXX, XXXXX			17.9				131.94				4478.75			12/2/2006			6295				84
4130103308		XXXXX, XXXXXXX			17.9				167.89				1182.49			9/9/2002			6010				84
4130103659		XXXXX, XXXXX X.			17.9				120.73				3083.55			5/15/2004			5760				84
4130103735		XXXX, XXXX X.			17.9				131.94				1431.96			10/26/2004			6295				84
0000000000		XXXXXX, XXXX X.			17.9				169.67				4185.89			1/15/2006			8095				84
4130103994		XXXXXX, XXXXXX			17.9				101.36				689.97			4/21/2006			4000				60
4130104081		XXXXX, XXXXXXX X.			17.9				150.91				5784.81			10/17/2006			7200				84
4130104089		XXXXXX, XXXXXXX X.			17.9				271.64				7452.94			11/12/2006			12960				84
4130104104		XXXXX, XXXXX X.			17.9				179.21				5509.64			12/10/2006			8550				84
4130304918		XXXXXXX, XXXXX X.			16.9				122.88				852.89			1/10/2004			6030				84
0000000000		XXXXX, XXXXXX X.			16.9				155.93				2931.71			5/21/2004			8180.23				96
4130305219		XXX XXXX, XXXXXXX			12.9				163.15				953.87			7/25/2004			8995				84
4130305323		XXXXXX, XXXXX X.			16.9				121.05				4374.81			10/17/2004			5940				84
4130305390		CAGE, XXXXX X.			9.9				354.13				15153.22			12/12/2004			26910				120
0000000000		XXXX, XXXXX XXX			16.9				257.1				10167.8			12/15/2004			14847.05				120
4130305427		AGUIRRE JR., SALVADOR			16.9				121.05				3910.37			1/21/2005			5940				84
0000000000		XXXXXX, XXXXXXXX			12.9				171.32				6580.57			5/28/2005			9445				84
4130305796		XXXXX, XXXXXX XXXX			17.9				238.19				10820.25			12/3/2005			13266				120
4130305817		XXXXXXXX, XXXX X.			9.9				177.25				5499.74			1/5/2006			10710				84
4130305826		XXXXX, XXXXX X.			17.9				137.71				5081.17			1/13/2006			6570				84
4130305940		PASOZ, XXXXXX XXXXXX DE			17.9				131.94				4533.2			10/13/2006			6295				84
4130401508		XXXXXXX, XXXXXXX X.			17.9				90.91				0			7/20/2005			3100				48
4130401515		XXXXX, XXXXXX			17.9				169.67				6262.56			7/24/2005			9450				120
4130401608		XXXXX, XXXXXX			17.9				87.42				938.3			7/23/2006			3450				60
4130401666		XXXXXX, XXXXXX			17.9				137.71				5129.77			10/13/2006			6570				84
4130510640		XXXXXX, XXXXXX X.			16.9				208.92				7232.79			8/1/2003			12064.48				120
4130510697		XXXXXXXXX, XXXXXXX T.			16.9				138.47				1450.24			9/16/2003			6795				84
4130510925		XXXXXXX, XXXXXX			16.9				147.98				5963.71			1/26/2004			8545.5				120
4130511123		XXXXXXXX, XXXXX XXXXX			16.9				219.67				9115.76			5/13/2004			12685.5				120
4130511136		XXXXXXXX, XXXXX			16.9				149.54				7061.47			5/18/2004			8635.5				120
4130511141		XXXXX-XXXXXXX, XXXXXX X.			16.9				272.66				10288.8			5/20/2004			15745.5				120
4130511249		XXXXXX, XXXX			16.9				256.08				11908.4			7/17/2004			14788.02				120
4130511426		XXXXXXX, XXXXXX			16.9				149.87				5911.79			11/6/2004			8654.69				120
4130600541		XXXX, XXXXXXXXX			16.9				197.16				1489.87			3/28/2004			9675				84
0000000000		XXXXX XXXXXXX, XXXXXX			16.9				126.55				3241.37			5/21/2004			6210				84
4130600678		VASOUEZ, XXX X.			16.9				224.43				7902.38			7/5/2004			12960				120
4130600758		XXXXXXX, XXXXX			16.9				112.08				1134.8			8/21/2004			5500				84
4130601015		XXXX, XXXXXXXX			17.9				197.4				4659.79			6/27/2005			9418.12				84
4130601045		XXXXX, XXXXXXX			17.9				186.75				5959.2			7/17/2005			8910				84
4130601251		XXXXXXXX, XXXXXXX X.			17.9				228.57				5295.53			2/21/2006			10905				84
4130601362		XXXXXX, XXXXXX			17.9				149.03				6153.68			6/7/2006			7110				84
4130601531		XXXX, XXXXXXX			17.9				245.54				3976.19			10/10/2006			9690				60
0000000000		XXXXXXXX, XXXX X.			17.9				248.58				6974.96			11/25/2006			9810				60
4130700653		XXXXXXX, XXXX			17.9				131.94				819.12			7/27/2002			6295				84
4130700807		XXXXXX. GEORGIA			17.9				169.67				2038.47			8/28/2002			8095				84
4130702145		XXXXX, XXX			16.9				119.22				405.26			5/3/2003			5850				84
4130702214		XXXX, XXXXXXX X.			16.9				150.4				5802.69			5/15/2003			8685				120
4130702359		XXXX, XXXXXXX X.			16.9				154.31				3942.94			6/3/2003			8095				96
4130702471		XXXXXX, XXXXXXXX			16.9				218.11				2314.56			6/17/2003			12595				120
4130702621		XXXXXX, XXXXX			17.9				131.94				2265.06			7/5/2003			6295				84
4130702741		XXXXXX, XXXXXX X.			17.9				131.94				1362.46			7/21/2003			6295				84
4130702767		XXXX, XXXXX			16.9				155.77				6635.86			7/25/2003			8995				120
4130702822		XXXXXX, XXXXXXX X.			17.9				169.67				1988.42			8/2/2003			8095				84
0000000000		XXXXXX, XXXXXXXX			16.9				218.11				9364.81			8/20/2003			12595				120
4130703016		XXXXXXXXXX, XXXXXXX X.			16.9				218.11				6463.24			9/3/2003			12595				120
4130703019		XXXXXXXX, XXXXX			16.9				218.11				7425.85			9/3/2003			12595				120
4130703058		XXXXXXXXX, XXX			17.9				218.06				7076.71			9/16/2003			12145				120
4130703087		XXXXXXX, XXXXXX X.			17.9				161.5				5357.75			9/23/2003			8995				120
4130703254		XXXXXXXXX, XXX			17.9				209.98				7550.21			11/16/2003			11695				120
4130703278		XXXXXXX, XXXXXXXX X.			17.9				131.94				555.68			12/6/2003			6295				84
4130703417		XXXXXXX, XXXXX X.			16.9				154.31				3570.1			2/11/2004			8095				96
4130703423		JAMPAS, XXXXXX			16.9				155.77				5525.64			2/13/2004			8995				120
4130703502		XXXXXXXX, XXXXXXXXX XXXXXXX X.			16.9				155.77				5005.43			3/21/2004			8995				120
4130703512		XXXXXXX, XXXXXX			17.9				131.94				2134.52			3/24/2004			6295				84
4130703530		LAWRENCE, THELMA ELAINE			17.9				177.66				6659.04			3/30/2004			9895				120
4130703553		KROTT, LUANA R.			17.9				197.13				1646.92			4/11/2004			9405				84
4130703583		MATTHEWS, TONY			17.9				125.45				1181.51			4/20/2004			5965				84
4130703615		ORTEGA, JUAN JESUS			17.9				188.53				2270.88			5/1/2004			8995				84
4130703632		KAMAKEEAINA, AMY ANN P.			17.9				134.88				2958.35			5/7/2004			6435				84
4130703636		KENNEDY. DAVID M.			17.9				177.66				5791.75			5/8/2004			9895				120
4130703644		RIVKIN, CHARLENE			17.9				188.53				3601.78			5/12/2004			8995				84
4130703714		DAVISON, KRISTEEN			17.9				187.59				4389.2			6/8/2004			8950				84
4130703821		ANONAS, EDMUNDO T.			16.9				155.77				5446.04			7/10/2004			8995				120
4130703879		MOULDEN, GREGORY TERILL			17.9				128.28				2679.75			7/23/2004			6120				84
4130703935		THOMAS, KIMBERLEE			17.9				131.94				2029.78			8/4/2004			6295				84
4130703979		LACEY, KENNETH			17.9				167.89				2852.33			8/19/2004			8010				84
4130704016		BARRIERA, DORIS E.			17.9				127.33				1646.4			8/30/2004			6075				84
4130704021		ROBSON, LINDA L.			17.9				126.39				1530.94			9/2/2004			6030				84
4130704024		BENNETT, YAMILA			17.9				127.14				1350.57			9/2/2004			6066				84
4130704066		JAMES, VICTOR			17.9				139.59				3385.45			9/21/2004			6660				84
4130704153		MCILLHENNY, DOROTHY			17.9				139.59				1910.19			10/19/2004			6660				84
4130704314		LANG, GENE J.			17.9				159.98				5972.87			2/10/2005			8910				120
4130704436		LOVATO, EDWARD D.			17.9				156.91				4657.72			4/9/2005			8739				120

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER		NAME		INTEREST RATE				PAYMENT AMOUNT				CURRENT BALANCE				CONTRACT DATE				ORIGINAL LOAN AMOUNT				ORIGINAL TERM
4130704444		PROCTOR SR., MARK A.			17.9				127.9				2563.19				4/12/2005				6102				84
4130704538		MARTINDALE, KENNETH			17.9				139.41				2794.71				6/18/2005				6651				84
4130704550		SCHAMANEK, DENISE			17.9				130.16				4428.68				6/25/2005				6210				84
4131501623		CUMMINGS, STEVE E.			16.9				218.09				7178.42				9/21/2003				12594.36				120
4131501923		BLOOM, MICHAEL			16.9				149.62				6198.54				2/25/2004				8640				120
4131502362		ANWAY, DAVID			16.9				238.92				9615.28				10/12/2004				13796.97				120
4131503659		COTTON, VELTOR L.			17.9				192.83				4796.09				12/9/2006				9200				84
4135000256		MCMURRY, ROBERT			17.9				141.38				4378.86				2/6/2005				6745				84
4135000485		LOGAN, MEIGS B.			16.9				154.22				6043.52				4/28/2005				8905.5				120
4135000709		RANDOLPH, GREG			17.9				150.81				3022.28				8/7/2005				7195				84
4135000748		DEL ROSARIO, KEVIN S.			17.9				131.94				3413.42				8/31/2005				6295				84
4135000763		JENKINS, CAROLYN E.			17.9				121.44				1190.22				9/11/2005				5793.94				84
4135000826		FUNDERBURK, BRENDA			17.9				179.1				3835.73				10/5/2005				8545				84
4135000955		NOEL, JAY			17.9				137.6				3461.23				12/3/2005				6565				84
4135000978		BUSHEY. SHAWN M.			17.9				169.67				6335.52				12/17/2005				8095				84
4135001109		STERGOWSKI, JOHN M.			17.9				131.94				1719.47				2/15/2006				6295				84
4135001321		KING, EDWARD J.			17.9				131.94				3879.7				5/5/2006				6295				84
4135001368		MONROE, BRIAN J.			17.9				131.94				4242.67				5/16/2006				6295				84
4135001433		DEATON, DONNA L.			17.9				169.78				6473.59				6/10/2006				8100				84
4135001452		CARDENAS, ALFREOO G.			17.9				131.94				5761.97				6/19/2006				6295				84
4135001487		DEWEY, LARRY			17.9				91.01				3074.36				6/26/2006				4000				72
4135001588		GUY, FELIX			17.9				131.94				3952.68				8/16/2006				6295				84
4135001627		MEIER, KENT			17.9				131.94				5152.47				8/28/2006				6295				84
4135001801		BEUMELER JR., ROBERT A.			17.9				87.12				2361.13				12/10/2006				4000				78
4135001805		FOWLER, CHERYL			17.9				94.32				2876.74				12/12/2006				4500				84
4135004165		FORSTER, ANTHONY			17.9				130.16				4327.82				12/17/2006				6210				84
4135004167		CLEMENTS, ANGEL R.			17.9				131.94				5596.74				12/17/2006				6295				84
4135004650		CARPENTER, GARY D.			17.9				226.26				7492.25				2/2/2007				10795				84
4135004730		RUTHERFORD, BRENT			17.9				207.39				7835.65				2/10/2007				9895				84
4135004743		MORABITO, SALVATORE			17.9				209.97				9248.39				2/10/2007				11685				120
4135005126		DIAMOND, CHRISTOPHER W.			17.9				197.96				6857.53				3/18/2007				9445				84
4135005297		SALDANA, JOHNNY			17.9				177.66				8267.49				3/31/2007				9895				120
4135005374		BENSON, JOHNNY A.			17.9				358.3				11778.97				4/6/2007				17095				84
4135005463		SIMMONS, LESTER			17.9				207.39				9451.93				4/14/2007				9895				84
4135005542		HIGGINS, ROBERT C.			17.9				177.66				9240.2				4/21/2007				9895				120
4135005666		UTTZ, DELFINA			17.9				188.53				7443.98				4/30/2007				8995				84
4135005700		AYALA, SANDRA G.			17.9				172.72				6785.76				5/3/2007				9620				120
4135005704		VOIGT, DANIEL S.			17.9				130.16				5720.77				5/5/2007				6210				84
4135005711		KUSINITZ, REBECCA A.			17.9				263.98				8587.7				5/5/2007				12595				84
4135005849		GREEN, RONALD A.			17.9				235.69				7803.99				5/20/2007				11245				84
4135005940		BECK-HERRERA, JENNIFER			17.9				207.39				6867.28				5/28/2007				9895				84
4135005955		SANTAMARIA, ARMIDA			17.9				130.16				5720.98				5/29/2007				6210				84
4135006046		WATERS, JOHN T.			17.9				150.91				6166.72				6/6/2007				7200				84
4135006221		FIGUEROA, ROSE P.			17.9				188.53				8067.09				6/24/2007				8995				84
4135006227		BEVERETT, ELFREIDA			17.9				130.16				4766.73				6/24/2007				6210				84
4135006316		NIEVES, DANIEL			17.9				131.94				4447.79				7/2/2007				6295				84
4135006384		GONZALEZ, JOHNNY			17.9				263.01				12472.71				7/9/2007				14649.05				120
4135006403		VASQUEZ, ARTURO			17.9				169.67				7502.47				7/12/2007				8095				84
4135006421		BLAKEY, RONDELL L.			17.9				195.86				6983.89				7/14/2007				9345				84
4135006444		LAMASTER, SHAWN			17.9				292.28				9892.73				7/15/2007				13945				84
4135006457		HOLM, RYAN J.			17.9				177.66				8564.43				7/16/2007				9895				120
4135006475		SULLIVAN, REBECCA O.			17.9				131.76				4920.98				7/18/2007				5700				70
4135006492		MOORE, MORGAN T.			17.9				207.39				7812.25				7/21/2007				9895				84
4135006651		ROSELLE, NICOLE			17.9				197.96				8595.18				8/5/2007				9445				84
4135006765		DALIEGE, DEBORAH			17.9				197.97				6870.07				8/16/2007				9445.5				84
4135006811		CARR, JUDITH			17.9				170.48				8905.04				8/20/2007				9495				120
4135006875		WADSWORTH, TIMOTHY J.			17.9				125.2				4329.7				8/26/2007				5973.26				84
4135006956		PATTERSON, GREGORY EUGENE			17.9				145.35				7321.2				9/2/2007				8095.5				120
4135007237		WEST, COLIN F.			17.9				150.8				5889.28				9/29/2007				7195				84
4135007311		ORTH, DARYL			17.9				226.26				7967.55				10/6/2007				10795				84
4135007322		HOLKAN, RICK L.			17.9				131.94				4749.16				10/6/2007				6295				84
4135007327		PORTER, R. SCOTT			17.9				258.45				14009.14				10/6/2007				14395				120
4135007534		SCHANAMAN, DANIEL F.			17.9				150.81				6924.68				10/25/2007				7195.5				84
4135007682		MAGNUSON, THOMAS L.			11.9				128.12				5761.58				11/7/2007				7280				84
4135007703		SCHULER, ROBIN M.			17.9				131.94				4688.06				11/10/2007				6295				84
4135007859		MARTINEZ, SOFIA			17.9				150.91				5393.46				11/26/2007				7200				84
4135007913		ANDERSON JR., JOHN TYRE			14.75				129.21				5931.68				12/1/2007				6745				84
4135007949		MCGINNIS, DAVID			17.9				131.94				5016.47				12/5/2007				6295				84
4135007960		DALTON, DON F.			17.9				150.81				5667.59				12/7/2007				7195.5				84
4135008047		SMITH, CATHY JOYCE			17.9				177.66				7826.48				12/17/2007				9895				120
4135008123		STOLLINGS, STEPHEN			17.9				141.37				5279.45				12/29/2007				6745				84
4135008364		AKERS, HEATHER S			17.9				150.8				6924.2				1/27/2008				7195				84
4135008369		MATHIS, JOHN B.			17.9				94.95				3517.08				1/28/2008				4530				84
4135008454		RICHARDS, LORENE			17.9				207.39				9390.92				2/10/2008				9895				84
4135008513		KNIGHT, LEE D.			17.9				152.79				5854.69				2/17/2008				7290				84
4135008548		ROGERS, HUGH			17.9				169.77				7306.7				2/20/2008				8100				84
4135008552		BARONE, AUDREY			15.9				145.94				5899.35				2/21/2008				7368.82				84
4135008817		LINN, MICHAEL J.			13.9				159.66				8298				3/18/2008				8545				84
4135008842		GUEVARRA, GREGORIO M.			17.9				197.97				8916.68				3/22/2008				9445.5				84
4135008873		MARCHANT, DONNA M.			17.9				131.94				4984.73				3/25/2008				6295				84
4135008901		ABBOTT, BARBARA V.			17.5				130.47				4966.52				3/29/2008				6295				84
4135008906		MEZA, ELAINE			17.9				177.66				9708.38				3/29/2008				9895				120
4135008970		CHERY, PAMELA L.			17.9				120.73				3988.2				4/6/2008				5760				84
4135009006		SMITH, LERRIN JAY			17.9				122.22				6650.11				4/9/2008				6786.55				119
4135009207		BOSTIC, SHAWN A.			17.9				207.39				7939.76				4/29/2008				9895				84
4135009238		CATALAN, GILBERT ALEXANDER			17.5				130.47				5026.56				5/3/2008				6295				84
4135009263		VALDEZ JR., FRANK RAMON			17.5				130.47				6054.33				5/5/2008				6295				84
4135009279		FLANNERY, JACOB L.			17.9				160.34				6001.56				5/7/2008				7650				84
4135009295		MEAD, RAYMOND R.			17.9				131.94				5703.25				5/10/2008				6295				84
4135009304		FAJARDO, HAROLD			17.9				311.25				13889.88				5/11/2008				14850				84
4135009352		GALLEGOS. ALFRED			17.5				130.47				5030.47				5/18/2008				6295				84
4135009416		DARR, DONALD			17.9				131.94				5152.47				5/25/2008				6295				84
4135009420		RENDON JR., MIGUEL A.			17.9				86.45				3686.67				5/26/2008				3800				72
4135009439		HARTLAND, LESLIE			17.5				130.47				6177.28				5/27/2008				6295				84
4135009527		HAMILTON, DENISE L.			17.9				252.47				12514.16				6/8/2008				14061.7				120
4135009530		MUSE, FRANTZ			17.9				226.26				8835.79				6/8/2008				10795				84
4135009572		CONNOR, M.E.			17.9				214.62				10115.32				6/13/2008				10240				84
4135009587		RIVERA, JUAN S.			17.9				131.94				5138.99				6/15/2008				6295				84
4135009596		ARMENTA, ROBERT C.			17.9				170.01				8605.41				6/16/2008				9469.28				120
4135009616		COFFMAN, DONALD			17.9				207.4				9426.77				6/18/2008				9895.5				84
4135009634		KNEVITT. KELLY R.			17.9				226.26				9110.94				6/21/2008				10795				84
4135009649		POLSTON, TINA R.			6				152.9				11257.18				6/22/2008				13772.05				120
4135009692		NAPENAS, REBECCA			12.9				440.31				4544.73				6/28/2008				13086.5				36
4135009723		SWANEY, JOHN			17.9				115.62				4615.26				6/30/2008				5516.46				84
4135009755		YANKAJTIS JR., EDMUND R.			17.9				274.85				15261.69				7/5/2008				15308.2				120

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER		NAME		INTEREST RATE				PAYMENT AMOUNT				CURRENT BALANCE				CONTRACT DATE				ORIGINAL LOAN AMOUNT				ORIGINAL TERM
4135009822		SMITH, KEITH			17.9				207.39				9291.5				7/13/2008				9895				84
4135009899		TAYLOR, ODIS			11.8				259.23				15847.25				7/20/2008				18141.75				120
4135010027		KOWALCZYK, JUDITH E.			17.9				213.16				8437				8/3/2008				10170				84
4135010031		CROWE, KIM E.			16.9				153.75				3476.58				8/3/2008				6200				60
4135010052		CERDA, VICTOR M.			17.9				149.02				5880.92				8/5/2008				7110				84
4135010128		BROWN, VALERIE E.			17.9				113.18				4512.35				8/13/2008				5400				84
4135010170		LEE, JOHN R.			17.9				131.94				5244.5				8/18/2008				6295				84
4135010195		BAJAMUNDI-BEECH, KATHY			17.9				149.02				6000.83				8/23/2008				7110				84
4135010269		SWIONTEK, JESSICA M.			17.9				131.94				6218.35				8/31/2008				6295				84
4135010279		VANBIBBER, WILLIAM G.			17.9				216.82				8748.59				9/1/2008				10345				84
4135010298		AUDET, RICHARD			17.9				158.45				6332.84				9/5/2008				7560				84
4135010355		MORALES, ANGELICA			17.9				149.02				6000.83				9/12/2008				7110				84
4135010372		DIETER, ANTHONY J.			17.9				178.15				7174.09				9/14/2008				8500				84
4135010669		SPRINGGAY, JOSEPH LEWIS			17.9				292.38				11975.4				10/19/2008				13950				84
4135010710		BEMIS, DAN			17.9				149.02				6565.26				10/24/2008				7110				84
4135010760		FISCHETTE, MARIA			17.9				139.59				5675.36				11/2/2008				6660				84
4135010810		HOLMBERG, WILLIAM W.			17.9				197.96				8083.48				11/8/2008				9445				84
4135010842		BAILEY, TOM A.			17.9				84.18				3216.62				11/11/2008				3700				72
4135010855		CONTRAS, KRISTIN L.			17.9				150.91				6185.99				11/13/2008				7200				84
4135010897		LEMOINE, GAYLORD			17.9				282.78				12604.93				11/18/2008				15750				120
4135011028		ARMSTRONG, DAN			17.9				111.29				4568.61				12/5/2008				5310				84
4135011065		STOVALL, RUSSELL			17.9				197.97				7720.88				12/9/2008				9445.5				84
4135011148		PILALAS, PHILIP L.			17.9				207.39				8592.68				12/23/2008				9895				84
4130210231		ESPEJO MENDEZ, BLANCA JULIA			17.9				257.05				910.5				7/7/2005				7120				36
4130210236		RIVERA, MARINA			17.9				150.01				292.72				7/22/2005				5920				60
4130600489		LOPEZ GONZALEZ, JULIAN			17.9				132.05				750.79				2/7/2004				6300				84
4130600593		BARRAGAN MORALES, ALBERTO			16.9				234.76				2882.41				5/1/2004				11520				84
4130034728		GUNTER, JEROME P			15.9				114.08				4169.17				5/9/1999				5760				84
4130036173		BULLINGTON, DIXIE			16.9				256.67				2305.34				11/4/1999				12595				84
4130037985		SCHEMPP, STEPHEN R			16.9				202.52				2718.94				6/24/2000				11695				120
4130038388		OVALLES, MARILYN			17.9				226.14				215.13				8/9/2000				12595				120
4130038609		WILHELM, DANIEL J			17.9				226.14				602.14				9/6/2000				12595				120
4130038815		GLUTH, CHRISTOPHER J			17.9				226.14				438.64				10/2/2000				12595				120
4130039103		COYNE, WILLIAM D			17.9				371.57				800.44				11/7/2000				20695				120
4130039141		BOUQUET, MIGUEL			17.9				161.59				64.57				11/12/2000				9000				120
4130039275		PAYNE-BETTS, BEVERLY			17.9				209.98				4501.81				11/28/2000				11695				120
4130039322		JONES, TREVOR W			17.9				161.5				620.37				12/3/2000				8995				120
4130039719		DIAZ, VANGIE			17.9				218.15				1453.2				1/21/2001				12150				120
4130039904		DORMAN, KURT R			17.9				161.5				1364.17				2/11/2001				8995				120
4130040022		OHARA, LINDA K			17.9				218.06				1436.05				2/23/2001				12145				120
4130040307		HAWK, LAURA E.			17.9				209.98				4642.38				3/20/2001				11695				120
4130040845		KRUEGER, DONALD F.			17.9				188.43				3510.67				5/8/2001				10495				120
4130040867		BURKOW, RICHARD A.			17.9				209.98				4795.61				5/9/2001				11695				120
4130041054		DELANTY, TIMOTHY P.			17.9				161.5				1757.69				5/27/2001				8995				120
4130041097		JOHNSON, KAREN L.			17.9				371.57				3054.56				5/30/2001				20695				120
4130041123		ZIEGLER, WALTER			17.9				226.14				2083.14				6/2/2001				12595				120
4130041150		MORGAN, RONALD L			17.9				161.5				1488.03				6/3/2001				8995				120
4130041247		DERITO SR., MARTY			17.9				161.5				2270.34				6/12/2001				8995				120
4130041258		MAHAFFEY, THOMAS O.			17.9				371.57				5313.54				6/14/2001				20695				120
4130041312		FILLO, STEPHEN D.			17.9				323.09				4641.37				6/19/2001				17995				120
4130041387		DAILEY, KEVIN E.			17.9				209.98				2112.81				6/25/2001				11695				120
4130041460		BLISS D.C., ROBERT F.			17.9				209.98				1400.78				7/2/2001				11695				120
4130041743		CRESSOTTI, CARLO A.			17.9				306.93				3347.34				7/30/2001				17095				120
4130041999		FAUX, DAVID D.			17.9				161.5				1893.79				8/23/2001				8995				120
4130042099		LEE, DAVID M.			17.9				209.98				6547.74				9/1/2001				11695				120
4130042294		ASTORGA, FRANK			17.9				122.51				262.92				9/22/2001				5845				84
4130042329		HICKLAND, LARRY B.			17.9				161.5				2088.28				9/25/2001				8995				120
4130042442		VERNON, WILLIAM D.			17.9				274.61				5653.72				10/7/2001				15295				120
4130042665		ALLERS, EDITH L.			17.9				306.93				4576.79				10/31/2001				17095				120
4130042886		STEWART, JERRY E.			17.9				124.5				99.32				11/25/2001				5940				84
4130042891		BLICKE, WILLIAM J.			17.9				209.98				2756.47				11/25/2001				11695				120
4130042945		DEGON, VINCENT I.			17.9				226.14				5477.52				12/1/2001				12595				120
4130043091		SOTOMAYOR, ALIDA ORTIZ			17.9				323.09				4635.21				12/17/2001				17995				120
4130043137		SCHAEFER, ERIK W.			17.9				161.5				4377.36				12/23/2001				8995				120
4130043159		TURNAGE, NOLEN F.			17.9				226.14				3370.68				12/28/2001				12595				120
4130043180		CRAWFORD, ANN MARIE			17.9				161.5				2771.05				12/30/2001				8995				120
4130043351		COOK, KEITH F.			17.9				209.98				3497.89				1/22/2002				11695				120
4130043555		LEHRER, DOUGLAS P.			17.9				226.14				3225.72				2/21/2002				12595				120
4130043876		BOWLES, SHARON K.			17.9				209.98				5935.73				4/1/2002				11695				120
4130044151		GATES, SHIRLEY MAREE			17.9				209.98				4417.68				5/5/2002				11695				120
4130044451		SCHOFIELD, BARRY L.			17.9				209.98				4060.19				6/16/2002				11695				120
4130044600		FOUSEK, DONALD J.			17.9				216.53				4187.91				7/8/2002				12060				120
4130044683		MCCOY, ROGER PAUL			17.9				226.14				4629.53				7/18/2002				12595				120
4130044771		PENAFLOR, CYNTHIA A.			17.9				226.14				4465.73				8/3/2002				12595				120
4130044888		SONG, DAVID			17.9				209.98				7154.42				8/20/2002				11695				120
4130045198		SANTOS, SUSAN GINLEY			17.9				323.09				6918.9				10/4/2002				17995				120
4130045343		SPENCER, ROBERT E.			17.9				169.67				1861.4				10/21/2002				8095				84
4130045377		COSLIN, DARIN J.			17.9				209.98				1447.55				10/27/2002				11695				120
4130045434		SUAREZ, STEVEN A.			17.9				161.5				6134.6				11/3/2002				8996				120
4130045518		TEBBE, DONALD V.			17.9				226.14				5142.68				11/16/2002				12595				120
4130045550		MOORE, ROBERT L.			17.9				122.62				1101.86				11/22/2002				5850				84
4130045779		MOWERY, RODGER L.			17.9				169.67				1436.54				12/22/2002				8095				84
4130045786		GRABSTAS, SUE L.			17.9				124.5				2227.18				12/23/2002				5940				84
4130046289		BROWN, JOSEPH E.			17.9				124.5				55.35				3/2/2003				5940				84
4130046547		FRITSINGER, ALYSON			17.9				162.23				189.27				4/5/2003				7740				84
4Ì30046617		AGUIRRE, MARTIN			17.9				122.62				1140.64				4/13/2003				5850				84
4130047090		RUTHERFORD, LYNDEL			17.9				122.62				1311.56				6/11/2003				5850				84
4130047194		SERVADIO, WILLIAM L.			17.9				242.3				8216.63				6/23/2003				13495				120
4130047221		ROGGASCH, JEFF			17.9				161.5				4542.8				6/27/2003				8995				120
4130047237		BARNES, RICHARD			17.9				209.98				5691.07				6/29/2003				11696				120
4130047435		CASALI, NORMA A.			17.9				162.23				470.94				7/24/2003				7740				84
4130047534		HOLLAND, TONY			17.9				161.5				5802.45				8/9/2003				8995				120
4130047537		ERLER, CASSANDRA C.			17.9				162.23				158.2				8/9/2003				7740				84
4130047539		VICKERY, SCOTT A.			17.9				131.94				2266.42				8/9/2003				6295				84
4130047710		MOORE II, RICHARD C.			17.9				226.14				8234.59				8/31/2003				12595				120
4130047750		RHODES, JASON C.			17.9				161.5				4886.25				9/6/2003				8995				120
4130048002		KOVELMAN PHD., JOYCE A.			17.9				387.73				11128.23				10/12/2003				21595				120
4130048381		STONE JR., RICHARD			17.9				122.62				470.63				11/25/2003				5850				84
4130048559		RUSSELL, ASSIAH			17.9				131.94				219.66				12/28/2003				6295				84
4130048602		MURPHY, RICHARD DENNIS			17.9				169.67				764.72				1/3/2004				8095				84
4130048609		HOWARD, GUY L.			17.9				122.62				1022.81				1/4/2004				5850				84
4130048652		GUEVARRA, ELVIA E.			17.9				188.53				2056.6				1/17/2004				8995				84
4130048728		RODRIGUEZ, RAOUL J.			17.9				122.51				778.78				1/31/2004				5845				84
4130048808		ASINAS, ROBERTO C.			17.9				177.66				5513.84				2/12/2004				9895				120
4130048824		ARNOUX, JOHN D.			17.9				131.94				987.15				2/15/2004				6295				84

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER		NAME		INTEREST RATE				PAYMENT AMOUNT				CURRENT BALANCE				CONTRACT DATE		ORIGINAL LOAN AMOUNT				ORIGINAL TERM
4130048838		WHITTLE JR., RONALD A.			17.9				131.94				869.93			2/16/2004			6295				84
4130048847		WHITE, REGGIE V.			17.9				131.94				692.74			2/16/2004			6295				84
4130048898		BRUCE, ROBERT M.			17.9				169.67				1518.54			2/24/2004			8095				84
4130048905		COOK SR., ROBERT E.			17.9				226.14				7137.87			2/24/2004			12595				120
4130048948		SCIASCIA, ELAINE M			17.9				131.94				1951.25			2/29/2004			6295				84
4130049123		ALLEN, GREGORY K.			17.9				131.94				987.15			3/24/2004			6295				84
4130049134		MCQUIVEY, JEFRE L.			17.9				122.51				2193.97			3/25/2004			5845				84
4130049234		STANISCIA, PETER			17.9				150.81				3414.11			4/5/2004			7195				84
4130049470		ROHWEDER, ROXANE M.			17.9				131.94				1213.25			4/29/2004			6295				84
4130049573		DOUTY, SUSAN J.			17.9				131.94				3563.21			5/11/2004			6295				84
4130049648		HESER, CHRISTINA L.			17.9				131.94				1439.06			5/20/2004			6295				84
4130049695		SCOVIC, PRISCILLA R.			17.9				320.58				3030.46			5/25/2004			15295				84
4130049725		TRUJILLO, MARK A.			17.9				169.67				3747.24			5/29/2004			8095				84
4130049735		PAUL, GARY B.			17.9				282.85				2608.31			5/29/2004			13495				84
4130049750		TORRENS, KENNETH			17.9				122.62				1129.45			5/30/2004			5850				84
4130049854		MILLER, JEFFREY S.			17.9				131.94				1825.88			6/12/2004			6295				84
4130049886		JACKSON, DIANE P.			17.9				263.99				2658.15			6/15/2004			12595				84
4130049995		VIA, PRISClLLA			17.9				131.94				1467.47			6/28/2004			6295				84
4130050002		THOMAS, DELLA SUE			17.9				167.68				2287.35			6/29/2004			8000				84
4130050008		HOLTSBERG, BEVERLY A.			17.9				186.53				2282.71			6/30/2004			8995				84
4130050024		BENNETT, MICHAEL D.			17.9				320.58				3228.45			7/3/2004			15295				84
4130050096		MURPHY, SHERIDAN D.			17.9				131.94				1328.58			7/11/2004			6295				84
4130050145		MUHR, LITA R.			17.9				131.94				1439.06			7/18/2004			6295				84
4130050170		BAILEY, RAY D.			17.9				131.94				3198.71			7/21/2004			6295				84
4130050185		FINGERLE, DAVID P.			17.9				122.51				1335.93			7/24/2004			5845				84
4130050204		CANFIELD, PATRICK J.			17.9				122.51				1168.6			7/26/2004			5845				84
4130050273		MACCONNELL, DOUGLAS			17.9				274.61				9549.86			8/2/2004			15295				120
4130050361		MONTANO, ROBERT A.			17.9				320.58				4391.24			8/11/2004			15295				84
4130050402		SPANOS, CHRISTOPHER G.			17.9				131.94				1616.52			8/15/2004			6295				84
4130050437		PAYNE, MARILYN Y.			17.9				167.68				1828.48			8/19/2004			8000				84
4130050469		CANERY, SANDRA J.			17.9				131.94				1547.92			8/23/2004			6295				84
4130050472		BOBERG, ALICE L.			17.9				320.58				8690.55			8/23/2004			15295				84
4130050494		SHULMAN, STUART W.			17.9				274.61				9174.99			8/25/2004			15295				120
4130050513		DE FOER, GERALD D.			17.9				161.5				7097.92			8/28/2004			8995				120
4130050539		DAVIS, SCOTT			17.9				263.99				4583			8/30/2004			12595				84
4130050589		SIMMONS, WESLEY E.			17.9				131.94				1547.92			9/6/2004			6295				84
4130050639		HONEYBONE, STEPHEN			17.9				131.94				1760.86			9/11/2004			6295				84
4130050656		GOODRICH, SUSAN D.			17.9				169.67				1990.28			9/13/2004			8095				84
4130050690		CLARK, SANDRA R.			17.9				131.94				3255.25			9/16/2004			6295				84
4130050743		BLOOM, DAVID W.			17.9				153.42				5378.75			9/21/2004			8545				120
4130050808		CLINE, J. BRYON			17.9				124.4				1313.21			9/28/2004			5935				84
4130050845		VINSON, GEORGE A.			17.9				169.67				4797.01			10/2/2004			8095				84
4130050879		WENDLING, MARK			17.9				131.94				1957.25			10/5/2004			6295				84
4130050919		TERHUNE, ROBERT C.			17.9				122.62				2172.49			10/10/2004			5850				84
4130050961		MASON, SHERRIE K.			17.9				150.81				2011.88			10/14/2004			7195				84
4130050963		HOFFMAN, C.J.			17.9				169.67				3112.4			10/14/2004			8095				84
4130050982		COLE, CAROL J.			17.9				169.67				2500.53			10/16/2004			8095				84
4130051069		BROBST, DAVID A.			17.9				122.62				1921.57			10/27/2004			6850				84
4130051156		HACKETT, DENNIS J.			17.9				169.67				2264.11			11/8/2004			8095				84
4130051179		HARRIS, THERESA C.			17.9				131.94				1864.99			11/11/2004			6295				84
4130051225		MILLER, TERRELL			17.9				188.53				2898.99			11/19/2004			8995				84
4130051242		FLORES, BELINDA T.			17.9				169.67				2396.26			11/22/2004			8095				84
4130051244		NOREN, BRADLEY E.			17.9				320.58				5026.57			11/22/2004			15295				84
4130051264		PEZNOWSKI, LEN M.			17.9				188.53				2665.17			11/24/2004			8995				84
4130051311		NOEL, SHERRI			17.9				161.5				5812.65			11/30/2004			8995				120
4130051342		LEWIS, CASEY			17.9				234.22				8429.56			12/5/2004			13045				120
4130051348		BEST, CRAIG B.			17.9				153.42				6218.11			12/5/2004			8545				120
4130051350		MERTES, PATRICK T.			17.9				131.94				1864.99			12/6/2004			6295				84
4130051429		ROSE, PHILLIP E.			17.9				274.61				10009.76			12/19/2004			15295				120
4130051435		JULIEN, ANDRE H.			17.9				122.62				1934.73			12/20/2004			5850				84
4130051445		POLUSZEJKO, FLORENCE D.			17.9				126.28				3602.24			12/21/2004			6025				84
4130051459		INNS, FRED			17.9				131.94				2057.32			12/22/2004			6295				84
4130051472		SOLOMON-CALDERON, MONETTE			17.9				245.12				3656.01			12/27/2004			11895				84
4130051490		MCNATTY, DONALD R.			17.9				274.61				9973.75			12/28/2004			15295				120
4130051501		MCGEHEE, SUSAN C.			17.9				129.85				1935.63			12/30/2004			6195				84
4130051528		SALVAGGIO JR., ANTHONY T.			17.9				131.94				1950.94			1/4/2005			6295				84
4130051579		WOODRUFF, PAUL N.			17.9				131.94				2818.89			1/17/2005			6295				84
4130051668		WILLIAMS SR., DONALD			17.9				169.67				2659.95			2/1/2005			8095				84
4130051671		SMYSER, M.S.			17.9				169.67				2750.23			2/3/2005			8095				84
4130051728		VERDUGO, GEORGE			17.9				161.5				6216.38			2/12/2005			8995				120
4130051730		GILLIS, MELINDA			17.9				414.89				7109.34			2/12/2005			19795				84
4130051733		STARLIPER, LYNETTE			17.9				131.94				3149.65			2/13/2005			6295				84
4130051796		HARTLEY, MICHELLE L.			17.9				122.62				2541.75			2/20/2005			5850				84
4130051815		QUINONEZ, ADRIAN M.			17.9				320.58				5334.49			2/21/2005			15295				84
4130051845		BIANCHI, RICK			17.9				100.5				1872.52			2/26/2005			4795				84
4130051875		LEVIT, GARY L.			17.9				320.58				5230.52			2/28/2005			15295				84
4130051902		HARRIS, DAVID E.			17.9				245.12				4215.9			3/4/2005			11695				84
4130051988		WILKERSON, DAISY R.			17.9				122.62				2249.53			3/14/2005			5850				84
4130052006		CONNELL, THOMAS L.			17.9				146.72				2670.69			3/17/2005			7000				84
4130052018		KOPPEL, LAWRENCE S.			17.9				150.91				2852.31			3/19/2005			7200				84
4130052065		CROSBY, JEAN A.			17.9				131.94				2251.55			3/25/2005			6295				84
4130052101		DRYE II, AARON M.			17.9				122.62				3323.32			3/29/2005			5850				84
4130052105		PFISTER, LYLE A.			17.9				169.67				2974.6			3/29/2005			8095				84
4130052257		WORONOWICZ, NELA			17.9				320.58				5691			4/17/2005			15295				84
4130052389		SPRINKLE, DUNCAN			17.9				131.94				2458.39			5/6/2005			6295				84
4130052497		MILLER, AMY S.			17.9				131.94				2458.39			5/21/2005			6295				84
4130052518		MONCUR, WILLIAM R.			17.9				131.94				637.07			5/23/2005			6295				84
4130052525		RAUCH, MARTIN			17.9				172.75				3322.29			5/24/2005			8242				84
4130052571		ROGERS, DONNA R. B.			17.9				131.94				2458.39			5/30/2005			6295				84
4130052595		CLAYTOR JR., ISIAH			17.9				169.67				3809.59			6/4/2005			8095				84
4130052631		MARTIN, BRIAN			17.9				131.94				2706.29			6/10/2005			6295				84
4130052678		KRESS, ANITA			17.9				167.68				3624.62			6/16/2005			8000				84
4130052895		MILLER, LON C.			17.9				131.94				3419.4			6/19/2005			6295				84
4130052696		CLARK JR., HOWARD J.			17.9				131.94				3418.36			6/19/2005			6295				84
4130052710		CHARBONNEAU, SERGE			17.9				131.94				3791.47			6/20/2005			6295				84
4130052744		MONETTE, JOHN R.			17.9				131.94				4077.31			6/25/2005			6295				84
4130052796		LINSCOTT, WESLEY V.			17.9				207.4				6098.23			7/3/2005			9895				84
4130052797		LINSCOTT, WESLEY V.			17.9				207.4				6098.23			7/3/2005			9895				84
4130052806		NALLY, KAREN E.			17.9				131.94				2692.87			7/3/2005			6295				84
4130052953		MORK, DANIEL			17.9				161.5				6526			7/24/2005			8995				120
4130053006		MENENDEZ, MICHAEL JOSEPH			17.9				150.81				3330.25			7/30/2005			7195				84
4130053026		BRUNER, ELISA			17.9				242.3				11617.78			8/1/2005			13495				120
4130053030		WAMSLEY, JERRY			17.9				320.58				9950.89			8/2/2005			15295				84
4130053111		CAMBERN, MICHAEL W.			17.9				150.81				4938.88			8/15/2005			7195				84
4130053113		LOPER, JOE A.			17.9				145.15				4267.6			8/15/2005			6925				84

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER		NAME		INTEREST RATE				PAYMENT AMOUNT				CURRENT BALANCE				CONTRACT DATE				ORIGINAL LOAN AMOUNT				ORIGINAL TERM
4130053116		ARMSTRONG, TED B.			17.9				188.53				3899.16				8/16/2005				8995				84
4130053198		PACK, SCOTT			17.9				161.5				4367.58				8/28/2005				8995				120
4130053264		RAMOS, CHRISTINA			17.9				132.05				2592.16				9/5/2005				6300				84
4130053284		LOWERY III, HENRY A.			17.9				150.81				3429.9				9/10/2005				7195				84
4130053322		WALKER SR., DEXTER G.			17.9				131.94				2986.88				9/13/2005				6295				84
4130053339		URRUTIC, CHRISTOPHER			17.9				171.98				4396.55				9/17/2005				8205				84
4130053382		LINTALA, GEORGE H.			17.9				131.94				3952.68				9/23/2005				6295				84
4130053473		SHOLSETH, JANICE E.			17.9				242.3				9755.65				10/6/2005				13495				120
4130053490		LEE, CHERILYN			17.9				131.94				2825.68				10/8/2005				6295				84
4130053499		HOUCK, WILLIAM P.			17.9				150.81				3447.68				10/9/2005				7195				84
4130053532		URBAN, ANNE E.			17.9				131.94				2914.16				10/13/2005				6295				84
4130053575		WILSON, SAMMY SUE			17.9				207.4				6643.76				10/18/2005				9895				84
4130053594		BARTMAN, BRUCE P.			17.9				131.94				4368.6				10/22/2005				6295				84
4130053668		VRATIL, DOUGLAS			17.9				131.94				2914.16				10/31/2005				6295				84
4130053709		SAGE, ARTHUR R.			17.9				131.94				1306.14				11/7/2005				6295				84
4130053849		LEZAMA, LISA V.			17.9				131.94				1647.44				12/1/2005				6295				84
4130053906		KOCHIS, MICHAEL D.			17.9				161.5				6628.96				12/10/2005				8995				120
4130053916		TARIN, LAURA M.			17.9				131.94				4970.31				12/11/2005				6295				84
4130053978		MCAULEY, KEITH			17.9				207.4				4934.16				12/20/2005				9895				84
4130054096		PATAWE, RANULFO C.			17.9				169.67				5617.69				1/8/2006				8095				84
4130054097		MEZA, ROBERTO G.			17.9				131.94				3498.12				1/8/2006				6295				84
4130054309		HODGES, JAMES F.			17.9				131.94				2457.54				2/15/2006				6295				84
4130054381		THOMAS, CLAIRE			17.9				169.67				4185.89				2/24/2006				8095				84
4130054420		ROGERS, KENNETH G.			17.9				131.94				3275.78				2/27/2006				6295				84
4130054669		LEHMAN, SUZANNE L.			17.9				226.14				9802.35				3/28/2006				12595				120
4130054756		PASION, YOLANDO T.			17.9				188.53				4822.76				4/5/2006				8995				84
4130054770		BRANTON, ROBERT			17.9				132.05				3579.17				4/7/2006				6300				84
4130054811		BROWN, GISELLE M.			17.9				263.99				6677.38				4/10/2006				12595				84
4130054861		PENNER, GERALD W.			17.9				131.94				3608.73				4/15/2006				6295				84
4130054897		JIMENEZ, ENRIQUE			17.9				131.94				3418.36				4/18/2006				6295				84
4130054963		MEHAN, CHRISTOPHER			17.9				282.85				10686.21				4/23/2006				13495				84
4130054980		DELASKI, ROBERT			17.9				188.64				1481.69				4/25/2006				9000				84
4130055058		HERNANDEZ, ANDRES			17.9				131.94				1096.11				5/5/2006				6295				84
4130055080		VARBLE, DANA			17.9				131.94				3418.36				5/7/2006				6295				84
4130055169		HANNA JR., HARRY L.			17.9				273.42				8039.89				5/17/2006				13045				84
4130055170		BUDHU, FRANK			17.9				226.14				11100.59				5/17/2006				12595				120
4130055178		JORDAN, DEANNA L.			17.9				207.4				5376.65				5/18/2006				9895				84
4130055201		JOHNSON, DAVID L.			17.9				131.94				3593.64				5/20/2006				6295				84
4130055312		GREEN, GEOFFREY			17.9				131.94				4868.69				6/2/2006				6295				84
4130055345		FUNDARO, GARY			17.9				131.94				3879.7				6/6/2006				6295				84
4130055347		CORTEZ, MARY			17.9				131.94				3730.45				6/8/2006				6295				84
4130055483		JOHNSTON, ALBERT A.			17.9				131.94				3961.29				6/30/2006				6295				84
4130055489		BATISSA, RAYMOND C.			17.9				339.44				12236.27				7/1/2006				16195				84
4130055506		HEYMANN, EDWIN			17.9				131.94				4322.77				7/3/2006				6295				84
4130055509		BREWSTER, JULIETTE			17.9				131.94				3805.63				7/4/2006				6295				84
4130055528		GARDNER, ROBERT A.			17.9				131.94				3653.78				7/8/2006				6295				84
4130055594		NELSON, COLENE B.			17.9				188.53				331.46				7/16/2006				8995				84
4130055601		ZEDAKER, DANIEL L.			17.9				169.67				4502.3				7/17/2006				8095				84
4130055643		DONOVAN, LISA			17.9				131.94				3655.98				7/24/2006				6295				84
4130055738		YORK, MICHAEL			17.9				161.5				7097.92				8/7/2006				8995				120
4130055784		REVELS, CHRIS			17.9				188.53				7179.23				8/14/2006				8995				84
4130055789		OATES, DEVAN M.			17.9				188.53				5343.96				8/14/2006				8995				84
4130055819		MORRISON, CHARLES			17.9				131.94				3730.45				8/19/2006				6295				84
4130055831		PEREZ, IRMA C.			17.9				263.99				7754.12				8/21/2006				12595				84
4130055841		BAK, MARK J.			17.9				131.94				3967.75				8/24/2006				6295				84
4130055856		KLOVE, CHERI L.			17.9				169.67				6347.46				8/28/2006				8095				84
4130055887		SAIZ, MICHAEL R.			17.9				358.3				10205.44				9/3/2006				17095				84
4130055894		ATKINS, JUDY A.			17.9				263.99				9741.23				9/4/2006				12595				84
4130055916		BOMMARITO JR., JAMES J.			17.9				150.81				2839.47				9/8/2006				7195				84
4130055924		SCHULZ, FRIEDRICH R.			17.9				207.4				5863.61				9/9/2006				9895				84
4130055987		HAJJAR, GAIL			17.9				207.4				5981.79				9/20/2006				9895				84
4130055991		MORENO, SYLVIA			17.9				150.61				4395.54				9/21/2006				7195				84
4130056052		JOHNSON, DANNY R.			17.9				263.99				8503.64				9/30/2006				12595				84
4130056088		SMITH, MARILYN SUE			17.9				188.53				7284.1				10/4/2006				8995				84
4130056108		WILLIAMS, SUSAN			17.9				150.81				6246.61				10/8/2006				7195				84
4130056150		WILE, SHARON			17.9				188.53				6532.02				10/12/2006				8995				84
4130056255		MCNAMARA, MARK T.			17.9				131.94				5362.05				10/28/2006				6295				84
4130056305		FAFARD, THOMAS			17.9				188.64				5523.28				11/4/2006				9000				84
4130056312		GONZALEZ, AMELIA M.			17.9				188.53				4361.72				11/5/2006				8995				84
4130056395		ZAKUTNEY, MARY ANN			17.9				131.94				4017.3				11/18/2006				6295				84
4130056414		CROSS, NANCY H.			17.9				104.7				3135.83				11/21/2006				4995				84
4130103294		GILLS, BETTY J.			16.9				275.88				4718.49				8/6/2002				15930				120
4130103319		BURD, VALEN M.			16.9				280.98				5155.66				9/28/2002				15071				120
4130103357		SOTO, JULIAN P.			16.9				279.35				5834.8				11/11/2002				16132				120
4130103414		RIVERA. RALPH			17.9				131.94				1557.12				3/2/2003				6295				84
4130103536		MILLER, DEBORAH D.			17.9				118.79				58.66				9/2/2003				5571.97				84
4130103570		FLORA, RANDALL B.			17.9				158.35				330.18				11/3/2003				7555				84
4130103652		MCGINNIS, STEPHEN R.			17.9				282.85				3204.02				5/1/2004				13495				84
4130103702		BLODGETT, BRIAN D.			17.9				292.28				2877.46				8/14/2004				13945				84
4130103814		BAUCOM, LYLE R.			17.9				169.67				2914.24				4/12/2005				8095				84
4130103878		RICHMOND, JAMES M.			17.9				169.67				1828.93				8/1/2005				8095				84
4130103883		VERVAET SR., RICHARD G.			17.9				169.67				3400.78				8/7/2005				8095				84
4130103884		DEMEULE SR., NORMAN R.			17.9				131.94				2644.75				8/8/2005				6295				84
4130103923		WEBSTER, J. ERIC			17.9				131.94				4368.6				11/12/2005				6295				84
4130103942		LACOUEMENT, JASON L.			17.9				94.27				2117.45				1/2/2006				4497.5				84
4130103949		VALENZUELA, ALBERT R.			17.9				311.25				10305.88				1/28/2006				14850				84
4130103950		VALLERIE, PAUL J.			17.9				245.12				5893.15				1/28/2006				11695				84
4130103952		SHAMHART, FORREST W.			17.9				169.67				4078.65				2/5/2006				8095				84
4130103957		FRAIJO JR., STEVE R.			17.9				131.94				3422.47				2/12/2006				6295				84
4130103969		WEST, JESSE C.			17.9				169.67				5067.44				3/4/2006				8095				84
4130104055		DRAGE, MICKY G.			17.9				194.26				5384.97				8/12/2006				9268				84
4130104062		MOLINA, JOSE T.			17.9				287.04				10504.64				8/26/2006				13695				84
4130104066		ERICKSON, BONNIE L.			17.9				131.94				4516.08				9/10/2006				6295				84
4130104077		LEE, BRADLEY R.			17.9				130.16				3781.49				10/9/2006				6210				84
4130210135		HENDRICK, CARL L.			16.9				284.71				262.96				9/23/2003				13971.4				84
4130303610		ATHA, MARTIN			16.9				137.45				732.88				1/26/2002				6745				84
4130303635		L’ARMEE, CLARE			16.9				337.55				8640.33				2/9/2002				19492.7				120
4130303883		GOMEZ, FRANCISCO V.			16.9				153.66				2653.25				5/19/2002				8873.57				120
4130303991		COY, MICHAEL R.			12.9				206.31				6862.37				6/24/2002				13872.21				120
4130303998		SKAY, TOMMY J.			15.9				195.49				4006.05				6/25/2002				11713.57				120
4130304083		KRUPNICK, MICHAEL I.			10.9				519.94				23164.9				7/22/2002				37900.07				120
4130304237		DUTTON JR., DAN A.			14.9				289.17				6256.53				9/24/2002				17991.26				120
4130304286		MONGAN, MARIE F.			16.9				306.16				9415.87				10/26/2002				17680.27				120
4130304316		THOMPSON, JONATHAN			15.9				227.83				3976.18				11/3/2002				13651.17				120
4130304319		MONTGOMERY, GARY M.			16.9				493.36				87.63				11/4/2002				24210				84

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER		NAME		INTEREST RATE				PAYMENT AMOUNT				CURRENT BALANCE				CONTRACT DATE		ORIGINAL LOAN AMOUNT				ORIGINAL TERM
4130304417		JARAMILLO, GILBERTO P.			16.9				185.87				4706.85			1/12/2003			10733.44				120
4130304620		GONZALES, PATRICIA A.			16.9				300.32				10742.33			4/13/2003			17342.74				120
4130304648		STROCK, RICHARD G.			16.9				210.31				6613.3			4/30/2003			12145				120
4130304749		WILLIAMS II, JOHN C.			17.9				228.71				997.83			7/23/2003			10912.08				84
4130304758		BARELA, SYLVIA			16.9				155.77				3553.67			7/29/2003			8995				120
4130304849		GARNSEY, LESLIE A.			12.9				384.21				11677.42			10/17/2003			25833.7				120
4130304879		LOPEZ, CAROL L.			16.9				165.07				833.32			11/29/2003			8100				84
4130304892		HOYT, CHARLEE VAN CLEVE			15.9				239.16				6968.15			12/14/2003			14330.15				120
4130304971		KILBURN, PAT E.			16.9				202.87				5959.35			2/4/2004			11715.26				120
4130304988		HERRERA, LUIZ R.			16.9				206.42				6707.74			2/11/2004			11920				120
4130304995		YBARRA, FRANCISCO E.			16.9				130.7				1096.95			2/14/2004			6413.76				84
4130305014		ROYSTON, PAUL			9.9				209.36				7242.91			2/26/2004			15908.4				120
4130305061		REILLY, LINDON			16.9				151.18				6434.63			3/28/2004			8730				120
4130305116		PERALTA, RALPH A.			16.9				153.82				940.62			5/1/2004			7548.06				84
4130305118		VILLA, RENE F.			13.9				240.88				7935.67			5/2/2004			15574.21				120
4130305155		WILLIAMS, JON C.			16.9				200.93				6444.19			6/11/2004			11602.94				120
4130305241		MERCER, WALTER D.			16.9				175.56				6077.93			8/12/2004			10137.93				120
4130305260		ARNER, SYDNEY ANN			16.9				168.02				1962.29			8/27/2004			8245				84
4130305288		STEIN, JANET M. & JEFFREY D.			12.9				165.4				6142.39			9/12/2004			11120.97				120
4130305311		GAMMON JR., JOHN H.			8.5				215.3				2438.29			10/9/2004			13595				84
4130305352		CELIS, SERGIO D.			16.9				162.42				2384.56			11/10/2004			8520.53				96
4130305359		LINAREZ, ROBERT J.			16.9				140.24				787.53			11/14/2004			5654.77				60
4130305361		LOMBA, LUZ E.			16.9				122.88				1748.73			11/14/2004			6030				84
4130305367		SOTO, GUILLERMO R.			9.9				207.21				8765.76			11/20/2004			15745				120
4130305414		VARGAS, MARK			15.9				119.43				2179.37			1/9/2005			6030				84
4130305451		STUMBAUGH, AUDRA			16.9				385.67				14306.85			2/13/2005			22271.51				120
4130305492		RENDON, BENJAMIN O.			13.5				150.82				5841.02			2/25/2005			8825.84				96
4130305534		JOHNSON, CLAUD W.			9.9				207.21				10921.96			3/25/2005			15745				120
4130305582		BARKER, MICKEY A.			17.9				144.25				3374.57			5/5/2005			6882.02				84
4130305654		YSLAS DE BAZURTO, BETTINA E.			17.9				173.55				4060.41			7/17/2005			8280				84
4130305708		DAEFFLER, CHERYL			17.9				179.58				3846.22			10/1/2005			8568				84
4130305766		JACKSON, RUSSELL L.			17.9				239.08				9720.96			11/5/2005			13316				120
4130305846		VALENCIA, TRINIDAD R.			17.9				179.58				6769.74			2/1/2006			8568				84
4130401453		BARNETT, STEVEN S.			16.9				193.36				7256.17			3/25/2004			11166.09				120
4130401497		HOLLINGSWORTH, DON J.			17.9				85.32				930.29			7/17/2005			3750				72
4130401669		ADAMS, BILLY K.			17.9				78.56				1173.68			10/17/2006			3100				60
4130401676		EUTSEY, CHERYL			17.9				196.18				6249.15			10/28/2006			9360				84
4130401680		HERNANDEZ, JOSE			17.9				187.7				5826.23			11/4/2006			8955				84
4130510409		BATES-MCCAFFARY, MARIE			16.9				276.98				10206.62			12/1/2002			15995				120
4130510434		FRAUSTO, FRANK			16.9				270.49				9044.49			1/25/2003			15620.36				120
4130510466		BLANK, STEVEN A.			16.9				293.58				8435.78			4/22/2003			16953.37				120
4130510473		MYERS, THOMAS C.			16.9				447.21				11736.97			4/26/2003			25825.5				120
4130510494		KARGOL, MARK S.			16.9				303.82				8144.59			5/17/2003			17544.93				120
4130510511		JESSEE, STEVEN P.			16.9				140.2				3350.1			5/31/2003			8095.84				120
4130510514		PERDUE SR., EARL D.			16.9				202.14				4844.33			5/31/2003			11673.18				120
4130510517		LLAMAS, MIGUEL			16.9				197.73				4909.49			6/1/2003			11418.38				120
4130510535		INADA, NANCY KAY			16.9				163.83				1047.51			6/9/2003			8039.53				84
4130510567		SANGSTER, DARRYL P.			16.9				138.71				3810.38			6/21/2003			8010				120
4130510656		HEATH, DIANNE R.			16.9				175.92				2970.75			8/16/2003			8632.35				84
4130510682		FOOTE, CHRISTINA M.			16.9				207.37				5579.95			9/5/2003			11975.03				120
4130510688		TOVAR, PAULA			16.9				149.46				438.38			9/12/2003			7334.32				84
4130510705		KEMP, JAMES R.			16.9				167.43				2267.58			9/20/2003			8215.87				84
4130510710		KAIL, KONRAD			15.9				145.83				624.07			9/23/2003			7363.1				84
4130510817		DUKES, MANUEL			16.9				140.19				3768.9			11/17/2003			8095.5				120
4130510834		BARRON, EUGENE T.			16.9				220.79				6170.6			11/29/2003			12750.19				120
4130510867		PENNIX, ROBERT			16.9				166.03				7810.75			12/17/2003			9587.52				120
4130510889		VIGGIANO, MICHELLE L.			16.9				145.83				5526			1/7/2004			8421.39				120
4130510906		JEFFERSON, TOYCESAN			16.9				147.45				487.6			1/17/2004			7235.71				84
4130510929		AGOSTAROLA, ALFRED			16.9				215				6936.81			1/31/2004			12415.5				120
4130510954		GARCIA, ALMA N.			16.9				219.98				7057.6			2/15/2004			12703.25				120
4130510993		WAHL, TROY B.			16.9				154.96				3361.03			3/6/2004			7604.19				84
4130511000		GUERRA, JOHN G.			16.9				149.54				4627.52			3/9/2004			8635.5				120
4130511015		HENRY, LYNN N.			16.9				145.92				5594.7			3/17/2004			8426.45				120
4130511049		BROWN, ALAN W.			16.9				139.58				901.81			3/31/2004			6849.25				84
4130511107		ROWLAND, DAN F.			16.9				160.17				5441.56			5/2/2004			9249.57				120
4130511137		GOODWIN, DEBORAH L.			15.9				156.18				1889.24			5/19/2004			8455.5				96
4130511139		MCDONALD, ISEANO			16.9				152.66				4522.6			5/20/2004			8815.5				120
4130511144		MUGGLESTONE, ANDREW L.			16.9				210.32				8215.88			5/22/2004			12145.5				120
4130511168		JACKSON, CHRIS M.			16.9				169.62				1328.06			5/31/2004			8323.22				84
4130511197		ROBINSON, MARY			16.9				171.89				6719.45			6/17/2004			9926.14				120
4130511198		PACE, BRIAN G.			16.9				153.87				2807.5			6/17/2004			7550.36				84
4130511207		ASHCROFT, SHARON			16.9				288.79				10865.32			6/20/2004			16676.67				120
4130511223		HOWARD, DOROTHY M.			16.9				172.4				1792.85			6/29/2004			8460				84
4130511244		JOHNSON, HARRY B.			16.9				151.48				5744.17			7/13/2004			8747.49				120
4130511260		OAKES JR., EDWARD CHARLES			16.9				142.14				3274.91			7/25/2004			6975.09				84
4130511263		CHILDRESS, SUSAN J. B.			16.9				146.76				2790.07			7/26/2004			7201.86				84
4130511321		ROWE, ALTON E.			16.9				158.38				1537			8/31/2004			7771.72				84
4130511332		MOREY, SHERI			16.9				144.79				4556.85			9/7/2004			8361				120
4130511342		MCCABE, ORLANDO L.			16.9				251.83				8825.7			9/12/2004			14542.68				120
4130511359		SFARCIOC, DAVID V.			16.9				146.25				2783.13			9/20/2004			7176.75				84
4130511365		BONDE, JAMES A.			16.9				203.01				8257.51			9/30/2004			11723.3				120
4130511366		ARMENDAREZ, SALVADOR			16.9				147.96				1433.89			9/30/2004			7260.59				84
4130511393		LAWVER, TIMOTHY A.			16.9				200.1				7334.45			10/14/2004			11554.95				120
4130511401		GARY JR., KENNETH G.			16.9				158.66				1933			10/16/2004			7785.53				84
4130511418		SAVAGE, ROBERT G.			16.9				220.69				10003.11			10/29/2004			12744				120
4130511432		MATLOCK, MARK			16.9				149.62				4133.35			11/16/2004			8640.2				120
4130511439		VINCENT JR., PERRY W.			16.9				209.06				7242.91			11/20/2004			12072.72				120
4130511470		KILLINGSWORTH, RUBEN M.			16.9				230.15				9663.98			2/25/2005			13290.54				120
4130600383		ACUNA, EDGAR			16.9				128.3				559.91			10/11/2003			6295.5				84
4130600621		ANDERSON, SCOTT G.			16.9				230.56				4745.51			5/26/2004			13314.16				120
4130600623		LOPEZ, ANTONIO			16.9				169.55				2054.86			5/29/2004			8320				84
4130600791		GROENEWOLO, KURT			16.9				157.41				6157.66			9/14/2004			9090				120
4130600829		ANDREY, JEFFREY J.			16.9				141.22				1102.74			10/31/2004			6930				84
4130600874		VEGA, LINO			16.9				177.91				3707.62			1/15/2005			8730				84
4130600993		OKAMURA, ROMELIA ELIZABETH			17.9				196.18				6684.01			6/16/2005			9360				84
4130601002		LAZZARO, JOHN A.			17.9				188.54				58.46			6/19/2005			8995.5				84
4130601107		RUIZ V., CARMEN ELISA			17.9				200.69				400.83			8/27/2005			7920				60
4130601111		MCGANNON, PAULA A.			17.9				107.63				2464.95			9/3/2005			5135				84
4130601117		CROUNSE, WILLIAM V.			17.9				127.66				5422.01			9/13/2005			7110				120
4130601156		DELGADO, ALFREDO			17.9				143.82				6068.73			10/11/2005			8010				120
4130601160		LEAL, JAVIER			17.9				186.75				7249.91			10/15/2005			8910				84
4130601192		LOPEZ, ANTONIO H.			17.9				159.98				6731.49			11/23/2005			8910				120
4130601195		AGUILAR, ANGELICA			17.9				164.76				4235.9			11/27/2005			7860.91				84
4130601199		GALLEGOS, JOSE SEVERO			17.9				167.89				5062.22			11/29/2005			8010				84
4130601200		KRINSKY, NORMAN			17.9				513.63				20446.44			11/29/2005			28607.72				120

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER		NAME		INTEREST RATE				PAYMENT AMOUNT				CURRENT BALANCE				CONTRACT DATE		ORIGINAL LOAN AMOUNT				ORIGINAL TERM
4130601352		STRICKLAND, WILLIAM B.			17.9				152.82				4424.83			5/30/2006			7290.82				84
4130601370		OCHOA, LUZ VICTORIA			17.9				180.17				5004.35			6/17/2006			7110				60
4130601380		RODRIGUEZ, GUADALUPE ERNESTO			17.9				256.93				12744.4			6/21/2006			14310				120
4130601407		CRISP, CARL R.			17.9				172.19				6739.06			7/5/2006			8215.06				84
4130601411		QUINTANAR, JOSE LUIS			17.9				177.32				6248.31			7/7/2006			8460				84
4130601424		GUZMAN, JOSE LUIS			17				157.07				2375.87			7/18/2006			6320				60
4130601447		MARTINEZ, GABRIEL			17.9				88.69				985.01			8/6/2006			3500				60
4130601453		SANCHEZ G., LUIS MIGUEL			17.9				130.06				3155.74			12/20/2006			6205				84
4130601486		FRANECKI, DAVID J.			17.9				176.38				5642.1			8/30/2006			8415				84
4130700050		MCCRAY, VEDA V.			17.9				161.5				2597.42			2/4/2002			8995				120
4130700073		STREHAN, PAUL H.			17.9				161.5				1292.45			2/11/2002			8995				120
4130700078		HOPE, SHARON			17.9				145.34				3036.28			2/13/2002			8095				120
4130700104		DESJARLAIS, DAMON			17.9				226.14				6819.51			2/22/2002			12595				120
4130700228		RANESES, BENJAMIN D.			16.9				200.79				3595.03			4/13/2002			11595				120
4130700243		CARELOCK, PHYLLIS			17.9				161.5				2691.71			4/20/2002			8995				120
4130700288		ALEJO, MA. HERLIZA			16.9				154.03				2999.16			5/4/2002			8895				120
4130700347		LAYGO, LORNA RECIO			16.9				216.37				3908.6			5/17/2002			12495				120
4130700392		UMALI, OLIVIA O.			16.9				154.03				2625.55			5/27/2002			8895				120
4130700460		TAIRA, PAUL			16.9				218.11				3411.12			6/14/2002			12595				120
4130700495		SAGUN, SALEO REYES			16.9				154.03				3010.22			6/22/2002			8895				120
4130700664		MASCARINAS, NORMA V.			16.9				154.03				3070.33			7/28/2002			8895				120
4130700719		LAPID, RENATO			16.9				218.11				4829.8			8/10/2002			12595				120
4130700729		GILL, IXCHEL			16.9				202.52				4236.06			8/12/2002			11695				120
4130700742		CRUZ, JESSICA A.			16.9				218.11				4639.42			8/15/2002			12595				120
4130700808		PEREZ, JORGE			17.9				169.67				1782.3			8/29/2002			8095				84
4130700821		REED, DIANNE			17.9				188.53				2212.14			8/31/2002			8995				84
4130700839		MILLINDER JR., CARL			17.9				371.57				7799.67			9/5/2002			20695				120
4130700935		HARLEY, COREY			16.9				155.77				932.56			9/25/2002			8995				120
4130700952		KEEFE, ERNEST ODELL			17.9				131.94				699.76			9/27/2002			6295				84
4130701028		APDAN, KASHMIR JOY			16.9				154.03				3413.24			10/12/2002			8895				120
4130701055		FUENTES, ROGELIO C.			16.9				154.03				3411.73			10/18/2002			8895				120
4130701063		DOLATRE, ANTONIO			16.9				154.03				5158.8			10/19/2002			8895				120
4130701162		SWITLICK, JOY			17.9				131.94				1042.94			11/11/2002			6295				84
4130701261		EDUSADA, EIMY E.			16.9				218.11				7570.3			12/5/2002			12595				120
4130701268		SHIBATA, TOMOKO			16.9				218.11				5031.23			12/7/2002			12595				120
4130701294		VANCE, LANCE J.			16.9				310.14				10269.52			12/11/2002			17910				120
4130701315		LETICIA FERNANDEZ, FRANCISCO FER			17.9				161.5				6387.35			12/16/2002			8995				120
4130701342		JONES, MARCELLUS			17.9				161.5				3983.83			12/22/2002			8995				120
4130701382		TABORDA, WILMA			16.9				218.11				7647.16			12/29/2002			12595				120
4130701405		MOLINO, BEN			16.9				218.11				5304			1/4/2003			12595				120
4130701407		JENKINS, NANCY			17.9				161.5				3914.16			1/4/2003			8995				120
4130701439		CAYARI, RENATO M.			16.9				154.03				3953.1			1/10/2003			8895				120
4130701475		DEL BOSE, DIANE M.			17.9				177.66				5207.38			1/17/2003			9895				120
4130701493		BENITEZ, ALDEN			16.9				154.03				5506.97			1/19/2003			8895				120
4130701579		KNOX SR., MELVIN			16.9				218.11				5449.05			2/7/2003			12595				120
4130701604		FABIO, GABRIEL V.			16.9				218.11				5445.43			2/14/2003			12595				120
4130701611		RAMIL JR., OUINTIN R.			16.9				155.77				4830.53			2/15/2003			8995				120
4130701614		BENASFRE, CELERINO G.			17.9				371.57				9167.16			2/15/2003			20695				120
4130701629		KAPLOWITZ, RICHARD C.			17.9				226.14				5718.77			2/18/2003			12595				120
4130701666		DWYER, PATRICIA ANN			16.9				218.11				7382.93			2/22/2003			12595				120
4130701713		MOSCHELLA, WENDY			17.9				161.5				5865.03			3/2/2003			8995				120
4130701746		VIDA, WYNEE			16.9				218.11				5683.22			3/8/2003			12595				120
4130701783		MARSH, SHERM A.			16.9				137.45				328.5			3/13/2003			6745				84
4130701784		KITTINGER, THOMAS W.			16.9				218.11				5584.89			3/13/2003			12595				120
4130701786		MEIKLE, JACINTH			14.9				159.04				4258.1			3/13/2003			9895				120
4130701814		JANTZ, JAMES W.			9.9				201.28				4667.53			3/16/2003			15295				120
4130701872		FISCHER, JOHN T.			15.9				145.91				4281.32			3/24/2003			8742.53				120
4130701904		COOPER, DEBORAH			17.9				169.67				582.7			3/28/2003			8095				84
4130701906		CAMARILLO, FRED			14.9				151.81				3986.65			3/28/2003			9445				120
4130701959		SIELCZAK, JERZY J.			16.9				155.77				4301.76			4/4/2003			8995				120
4130701986		BRONSON, HAROLD J.			16.9				122.88				363.18			4/8/2003			6030				84
4130702013		URBANO, EMMANUEL G.			16.9				155.77				4544.86			4/14/2003			8996				120
4130702026		GODOY, LUSITO			16.9				218.11				5722.41			4/15/2003			12595				120
4130702027		GERNER, RUSSELL			17.9				131.94				1507.44			4/15/2003			6295				84
4130702051		KILLEBREW, DAVID			16.9				238.37				9376.25			4/19/2003			13765				120
4130702054		PETILLA, ANNIE D.			16.9				218.11				5554.16			4/19/2003			12595				120
4130702065		MALLOTT, DENNIS GREGORY			14.9				151.7				2836.28			4/21/2003			8995				108
4130702177		WOLF, LANA			16.9				137.45				403.4			5/8/2003			6745				84
4130702179		NICOLETTI. MARY JO			16.9				238.37				5675.64			5/9/2003			13765				120
4130702286		GOCO. REYNALDO A.			16.9				155.77				4839.82			5/25/2003			8995				120
4130702314		RAMSDELL, CHUNG-LI			16.9				202.52				4427.02			5/27/2003			11695				120
4130702363		OSBORNE, DARCY L.			17.9				131.94				451.77			6/3/2003			6295				84
4130702421		ALEXANDER, AARON			17.9				153.51				3787.94			6/11/2003			8550				120
4130702440		SIERRA, GEORGE			16.9				154.45				3061.28			6/14/2003			8545				108
4130702486		VINOYA, JAMES V.			16.9				218.11				6038.38			6/19/2003			12595				120
4130702503		GARVEY, ROBERT			17.9				155.31				5671.19			6/21/2003			8650				120
4130702544		BRINDLE, LARRY G.			16.9				155.77				4232.51			6/25/2003			8995				120
4130702581		EVANS SR., JOHN A.			17.9				224.34				6342.55			6/30/2003			12495				120
4130702585		DENARD, MICHAEL			16.9				137.45				951.43			7/1/2003			6745				84
4130702592		HALLEY, DARYL B			16.9				126.55				677.87			7/1/2003			6210				84
4130702599		GUILLEN, SUSANA			17.9				131.94				1902.09			7/2/2003			6295				84
4130702612		BALANCIO, ERNESTO M.			17.9				131.94				370.64			7/4/2003			6295				84
4130702661		DOAN, JESSICA			16.9				153.64				4240.31			7/9/2003			8500				108
4130702682		BRUCE, JASON A.			17.9				209.67				7010.09			7/13/2003			11677.83				120
4130702694		DREW, ALAN F.			17.9				129.95				236.25			7/14/2003			6200				84
4130702697		DOWNING JR., JOHN R.			9.9				153.91				4494.81			7/14/2003			11695				120
4130702698		NYHOFF, KURT L			16.9				119.22				215.01			7/14/2003			5850				84
4130702712		BRYANT, MARSHA			17.9				169.67				455.65			7/17/2003			8095				84
4130702725		HUNT, ARNOLD G.			17.9				225.65				9157.04			7/18/2003			12568				120
4130702738		WELLS, REGINA			17.9				131.94				526.34			7/20/2003			6295				84
4130702744		ORINO, MARIO B.			16.9				218.11				5628.42			7/22/2003			12595				120
4130702779		HEEBNER, PAUL ARTHUR			16.9				154.31				1560.67			7/27/2003			8095				96
4130702780		SOMERS, CANDACE			17.9				131.94				44.04			7/27/2003			6295				84
4130702790		KANE, LEON A.			17.9				163.49				1222.56			7/28/2003			7800				84
4130702796		LIBBY, WILLIAM			16.9				256.67				3687.29			7/29/2003			12595				84
4130702826		AUTIO, KARI T.			18.9				137.45				642.58			8/3/2003			6745				84
4130702845		HINES, JOHNIE			16.9				218.11				6136.66			8/5/2003			12595				120
4130702864		BOURN SR. RONALD			16.9				128.28				642.17			8/8/2003			6295				84
4130702867		MASON, LANTY R.			16.9				218.11				2474.92			8/8/2003			12595				120
4130702908		WARK, EDMOND			17.9				169.67				0			8/14/2003			8095				84
4130702938		VASQUEZ, JOSE J.			16.9				118.2				275.64			8/20/2003			5800				84
4130702951		CARRILLO, MONA LISA			17.9				169.67				165.55			8/23/2003			8095				84
4130702955		LIM, TED R.			16.9				215.65				8559.19			8/23/2003			12453.36				120
4130702959		RAMIREZ, DAVID			17.9				169.67				213.29			8/23/2003			8095				84
4130702966		MOODY JR., RICHARD E.			17.9				131.94				853.22			8/24/2003			6295				84

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER		NAME		INTEREST RATE				PAYMENT AMOUNT				CURRENT BALANCE				CONTRACT DATE		ORIGINAL LOAN AMOUNT				ORIGINAL TERM
4130702996		WOOD, LARRY O.			16.9				128.28				371.19			8/29/2003			6295				84
4130703014		FALLORINA-RUBIO, MARTIA M.			16.9				218.11				5781.61			9/3/2003			12595				120
4130703017		HERNANDEZ, ROGER			16.9				155.77				4830.62			9/3/2003			8995				120
4130703105		SPAGNUOLO, SUSAN			17.9				161.5				4761.63			9/29/2003			8995				120
4130703122		GRAY, SANDRA M.			16.9				122.27				238.39			10/7/2003			6000				84
4130703140		BRANDON, BRENDA M.			17.9				169.67				2013.94			10/11/2003			8095				84
4130703143		PANTALEON, ELZEN JASON			17.9				131.94				400.3			10/12/2003			6295				84
4130703179		ORTEGA, ARLENE M.			17.9				226.14				7720.75			10/22/2003			12595				120
4130703193		ISIP, LIBERTY			16.9				155.77				4785.23			10/26/2003			8995				120
4130703201		RODRIGUEZ, GERARDO			17.9				140.43				1193.15			10/27/2003			6700				84
4130703207		POOT, TERRY			16.9				119.22				453.34			10/28/2003			5850				84
4130703213		PARKER, LISA R.			17.9				140.43				319.62			11/1/2003			6700				84
4130703252		DERAMOS, ERLINDA AND FIDES			16.9				155.77				6519.49			11/15/2003			8995				120
4130703267		OCAMPO, JONIEL			16.9				155.77				5933.43			11/24/2003			8995				120
4130703281		OLIVA, LEE			16.9				155.77				5163.78			12/7/2003			8995				120
4130703317		MORALES, GRACIANO A.			16.9				155.77				4824.49			12/27/2003			8995				120
4130703329		FISHER, CRAIG A.			17.9				274.61				740.45			12/30/2003			15295				120
4130703346		GERAGHTY, MICHAEL E			17.9				161.5				4925.64			1/12/2004			8995				120
4130703407		HANDY, JOEL			16.9				119.22				726.99			2/8/2004			5850				84
4130703466		PEREYRA, ARMANDO T.			17.9				161.5				4941.54			3/1/2004			8995				120
4130703497		TOLENTINO, ARTHUR			17.9				186.75				1397.42			3/20/2004			8910				84
4130703506		STEPHENSON, ROBERT DOUGLAS			17.9				161.5				5132.91			3/21/2004			8995				120
4130703523		JORDAN, DAN			17.9				161.5				5170.74			3/29/2004			8995				120
4130703531		HERSHMAN-UNRUCH, ILENE			17.9				153.42				6177.52			3/31/2004			8545				120
4130703541		SMITH, FRANK L			17.9				131.94				987.15			4/6/2004			6295				84
4130703543		ESCUADRO, ROBERT			17.9				140.43				1050.43			4/7/2004			6700				84
4130703564		ISMERIO, ADRIANA			17.9				263.99				2201.66			4/14/2004			12595				84
4130703575		THOMPSON, MICHELE V.			17.9				188.53				4239.49			4/18/2004			8995				84
4130703576		JOHNSON, CLARENCE			17.9				178.16				2235.02			4/18/2004			8500				84
4130703601		CRANE, MARIA MONTALVAN			17.9				131.11				1596.06			4/26/2004			6255				84
4130703614		FRILLES, LILIA F.			16.9				155.77				3876.37			5/1/2004			8995				120
4130703657		VOSAROGOCI, ADI SENIREWA A.			17.9				242.3				8183.41			5/22/2004			13495				120
4130703695		PAUL, SLAVA			17.9				131.94				1163.25			6/2/2004			6295				84
4130703715		EDMOND, ELIZABETH			17.9				122.43				3778.78			6/8/2004			5841				84
4130703734		JOSON, ARACELI			16.9				218.11				7719.63			6/14/2004			12595				120
4130703735		MITCHELL, CRYSTAL L.			17.9				188.53				2376.69			6/14/2004			8995				84
4130703744		DIZON JR., JUAN G.			16.9				155.77				5294.97			6/18/2004			8995				120
4130703749		LOPEZ, JONATHAN P.			16.9				155.77				5341.65			6/19/2004			8995				120
4130703753		KELLER, KATHY			17.9				179.21				439.43			6/19/2004			8550				84
4130703764		HOPE, CHARLES A.			17.9				159.4				1646.45			6/25/2004			7605				84
4130703766		BLACK, KELLI N.			17.9				139.59				1802.56			6/25/2004			6660				84
4130703788		WOOD, ADRIANNA			17.9				134.27				1351.5			6/30/2004			6406				84
4130703791		NORFOLK, WALTER LEWIS			15.9				255.26				8886.79			6/30/2004			15295				120
4130703824		DRAYTON, ROBERT			17.9				188.53				2278.78			7/10/2004			8995				84
4130703829		HOLLAND, MICHAEL			17.9				131.94				3590.03			7/12/2004			6295				84
4130703859		MORRISSETTE-LUKE, ANTOINETTE			17.9				163.21				5609.73			7/19/2004			9090				120
4130703899		PAYNE, ARLENE			17.9				167.89				1841.76			7/27/2004			8010				84
4130703912		ALA, ROSANA D.			16.9				155.77				6987.95			7/31/2004			8995				120
4130703914		AGUILAR, FRANCISCO C.			16.9				155.77				5326.44			7/31/2004			8995				120
4130703916		ADAMS, PAUL			17.9				127.9				1394.33			7/31/2004			6102				84
4130703923		SATURNINO, MARIO REGINO G.			16.9				173.17				6030.82			8/2/2004			10000				120
4130703956		KING, JANET			17.9				152.62				6100.63			8/9/2004			8500				120
4130703978		PLAZA, NELIBETH			17.9				186.75				2228.66			8/19/2004			8910				84
4130703981		LUDWIG, GERMAN			17.9				167.89				1969.2			8/19/2004			8010				84
4130703982		MCPHEE, PAUL R.			16.9				237.44				8543.53			8/19/2004			13711.72				120
4130703990		SALISBURY, TRACIE			17.9				151.9				4846.98			8/21/2004			8460				120
4130704033		CYRUS, GARY K.			17.9				127.14				1466.85			9/5/2004			6066				84
4130704044		BURNETT, RANDY L.			17.9				128.28				3421.13			9/13/2004			6120				84
4130704046		FERGUSON, JOEL			17.9				139.59				1413.58			9/14/2004			6660				84
4130704084		ISI, DOMINIC S.			17.9				139.59				2090.63			9/25/2004			6660				84
4130704087		CLINE, ROBERT M.			17.9				233.41				8373.78			9/27/2004			13000				120
4130704100		CONRAD, ALICIA			17.9				127.33				1628.35			10/2/2004			6075				84
4130704116		EVANGELISTA, TERESITA			16.9				155.77				5562.05			10/7/2004			8995				120
4130704144		DAVID, SATURNINO C.			16.9				155.77				5693.76			10/16/2004			8995				120
4130704145		PASCUAL, ERNESTO A.			16.9				155.77				5638.42			10/16/2004			8995				120
4130704146		SEUNG, JAE Y.			17.9				131.11				1914.83			10/16/2004			6255				84
4130704166		RIVERO, RAMON C.			17.9				177.32				3395.84			10/27/2004			8460				84
4130704171		ARTAP, JOSE D.			16.9				155.77				6315.55			10/30/2004			8995				120
4130704186		ROSE, DAVID C.			17.9				232.69				8274.61			11/9/2004			12960				120
4130704207		SANGALANG, JIM			17.9				131.94				1864.99			11/20/2004			6295				84
4130704208		MCCRAY, VEDA V.			17.9				226				8218.44			11/21/2004			12587.38				120
4130704215		BYRDSONG, THOMAS W.			17.9				177.32				5703.25			11/27/2004			8460				84
4130704226		CAMPION, CHERIE			17.9				151.9				5572.9			12/11/2004			8460				120
4130704263		SHORT, KENNETH O.			17.9				128.28				3311.72			1/9/2005			6120				84
4130704345		MAGALLANES, FELIX			16.9				155.77				6161.93			2/22/2005			8995				120
4130704379		HERNANDEZ, ELIZABETH G.			16.9				155.77				5677.76			3/6/2005			8995				120
4130704397		GALLEGOS, LINDA D.			17.9				129.41				1849.73			3/18/2005			6174				84
4130704401		ALSMEYER, MARSHA			17.9				151.32				5875.02			3/19/2005			8428				120
4130704415		FERNANDEZ, LEILANI			16.9				155.77				5709.87			3/26/2005			8995				120
4130704417		MENDOZA, DOMINICK R.			16.9				155.77				6004.64			3/26/2005			8995				120
4130704418		HENLEY, MARLENE			17.9				130.16				2146.64			3/27/2005			6210				84
4130704419		AMBORT, FAITH ANN			17.9				263.53				7843.93			3/27/2005			12573				84
4130704429		SALANGSANG, LOLITA			16.9				155.77				7567.1			4/2/2005			8995				120
4130704438		COX, CHRISTOPHER			17.9				131.11				1702.41			4/9/2005			6255				84
4130704442		YANS, ALLEN			15.9				116.95				3552.17			4/11/2005			5905				84
4130704453		DE LA ROSA, SERGIO			17.9				139.59				2677.01			4/18/2005			6660				84
4130704462		PAULS, LINDA A.			17.9				193.15				7066.88			4/24/2005			10757.44				120
4130704488		HUBER, DAVID A.			17.9				139.59				2568.06			5/16/2005			6660				84
4130704491		COULTHARD, DENNIS			17.9				137.24				2493.5			5/20/2005			6547.5				84
4130704498		HANOHANO, EDWARD			17.9				237.54				9173.86			5/24/2005			13230				120
4130704502		VILLA, GABRIEL JR.			17.9				160.3				6670.75			5/28/2005			8928				120
4130704529		BRAUNE, ROBERT C.			17.9				139.59				2798.08			6/11/2005			6660				84
4130704539		BARBATO, JOSEPH C.			17.9				233.82				9642.32			6/19/2005			13023				120
4131500516		JENNER, JUANITA			16.9				217.86				3697.77			3/12/2002			12580.82				120
4131500799		DAVIS, DARRYL E.			15.9				254.56				5364.71			7/26/2002			15252.72				120
4131500838		GRAY, CHARLES A			16.9				218.11				1193.59			8/16/2002			12595.5				120
4131500859		IVORY, WILBERT			16.9				293.76				5761.74			8/29/2002			16964.1				120
4131500995		MARLOWE, RAY			16.9				243.46				8968.49			10/19/2002			14059.22				120
4131501039		MORAN, JAMES WILLIAM			17.9				212.32				667.85			11/12/2002			11399.66				109
4131501064		ZAPATA-MONGELLI, ANNETTE D.			16.9				188.38				3754.92			11/23/2002			10878.59				120
4131501085		BERKHOEL, DANIEL J.			16.9				150.4				3636.31			12/6/2002			8685				120
4131501098		BEJARANO, SOPHIA C.			16.9				137.1				2231.49			12/12/2002			7917.02				120
4131501102		PROPER, DEBRA J.			16.9				204.08				4501.68			12/13/2002			11785.3				120
4131501107		DOMINGUEZ, JOSE J.			16.9				296.02				6788.53			12/16/2002			17094.21				120
4131501134		HOJNACKE, MELISSA			16.9				147.9				2678.97			12/30/2002			8540.75				120

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER		NAME		INTEREST RATE				PAYMENT AMOUNT				CURRENT BALANCE				CONTRACT DATE		ORIGINAL LOAN AMOUNT				ORIGINAL TERM
4131501135		WASSON, GLEN D.			16.9				I39.98				2891.92			12/30/2002			8083.08				120
4131501136		SPISAK JR., ROBERT			16.9				147.28				3282.77			12/31/2002			8505				120
4131501142		VAN ANTWERP, JESSE A.			16.9				147.48				837.86			1/3/2003			7236.97				84
4131501251		ZAYAS, WILFREDO			16.9				210.32				4899.73			3/8/2003			12145.5				120
4131501331		MORGAN, MARY LECA			16.9				293.3				10547.84			4/19/2003			16937.56				120
4131501453		MERRILL, DENNIS			16.9				318.42				8157.69			6/26/2003			18388.09				120
4131501467		STREMCHA, WENDELL PAUL			16.9				332.61				8503.5			6/30/2003			19207.55				120
4131501477		HYER JR., RICHARD B.			16.9				187.14				4865.28			7/6/2003			10807				120
4131501507		NELSON, FRANCIS			16.9				158.1				4597.13			7/19/2003			9129.67				120
4131501514		RUBIN, PHILLIP R.			16.9				155.53				1165.29			7/24/2003			7631.84				84
4131501525		PINEDA, ANDRES			6				173.97				5739.68			7/31/2003			12509.47				120
4131501541		HARDY, WAYNE S.			15.9				179.38				5268.91			8/8/2003			10746.15				120
4131501616		GALLANT, THOMAS G.			16.9				137.75				4698.52			9/19/2003			7954.58				120
4131501621		CUTSHALL, ROBERT M.			16.9				214.35				5802.19			9/20/2003			12377.98				120
4131501630		JOHNSON, KEITH A.			16.9				417.86				18563.5			9/25/2003			24130.24				120
4131501640		MORA, CLAUDINE A.			16.9				155.77				5674.31			9/30/2003			8995.48				120
4131501661		ESKER, TERRY D.			16.9				137.54				3723.86			10/6/2003			7942.44				120
4131501678		BRYANT, RICHARD L			16.9				131.13				822.37			10/17/2003			7572.54				120
4131501693		MASS, LUIS E.			16.9				216.11				5444.7			10/28/2003			12479.62				120
4131501735		LANCASTER, COLEEN			16.9				215.31				893.51			11/24/2003			10565.47				84
4131501748		GRIFFIN, CHARLES A.			16.9				197.81				5599.76			12/2/2003			11422.95				120
4131501764		CORONADO JR., FRANK			16.9				121.7				3603.97			12/16/2003			7027.73				120
4131501786		HODLER, DEBORA ANN			16.9				140.25				4333.94			12/29/2003			8099.17				120
4131501799		TATRO, ROBERT D.			16.9				186.55				5454.57			1/5/2004			10778.27				120
4131501838		FITZGERALD, BENJAMIN A.			16.9				147.62				3932.56			1/19/2004			8524.76				120
4131501882		CASTILLO, MARCO A.			16.9				108.13				3421.5			2/12/2004			6244.08				120
4131501952		VAUGHT, MELISSA			17.9				264.92				9542.68			3/10/2004			14755				120
4131502045		STRAUBE, ROBERT			16.9				151.59				4573.16			4/5/2004			8753.67				120
4131502051		CLARK, CLIFTON R.			16.9				103.29				661.25			4/7/2004			5068.33				84
4131502077		KELLY, VALERIE E.			16.9				140.2				5444.6			4/19/2004			8096.31				120
4131502130		HALL, JOHN E.			17.9				175.74				661.55			5/23/2004			8384.53				84
4131502137		MILLER, ANA			16.9				195.94				5032.46			5/28/2004			11314.86				120
4131502173		ARNOLD, MARK T.			16.9				152.66				6336.17			6/22/2004			8815.48				120
4131502210		LEGAT, FREDERICK M.			16.9				179.62				6142.33			7/12/2004			10372.32				120
4131502306		PINOTTI, PATRICIA L.			16.9				206.69				6440			9/4/2004			11935.5				120
4131502314		EARLES, WILLIAM J.			16.9				178.44				3151.56			9/11/2004			10304.28				120
4131502335		GLOVER, DARRYL I.			16.9				147.87				3216.6			9/24/2004			7256				84
4131502347		DOLLARHIDE, GERALD W.			16.9				119.09				3930.96			10/2/2004			6876.94				120
4131502359		HAULEY, LINDA J.			16.9				393.91				12697.24			10/11/2004			22747.25				120
4131502380		SHMIGELSKY, HANS P.			16.9				148.02				2020.4			10/28/2004			7263.24				84
4131502414		ERVIN, RICHARD D.			16.9				220.94				7734.16			11/20/2004			12758.86				120
4131502432		FULLER, WILLIAM E.			16.9				143.95				4940.09			11/29/2004			8312.7				120
4131502461		WELLER, RICHARD M.			16.9				140.16				5797.61			12/19/2004			8093.93				120
4131502562		AMPON, JOSE A.			16.9				222.96				8647.72			3/1/2005			12875.49				120
4131502594		WILLIAMS, BERNARD			16.9				262.86				4612.22			3/21/2005			12899				84
4131502654		OFEK, HILLEL			16.9				227.74				4529.01			5/5/2005			13151.12				120
4131502656		GUTIERREZ JR., RICHARD			17.9				203.38				7840.33			5/8/2005			11327.51				120
4131502662		ROBERTS, TRISHA			17.9				160.57				5970.68			5/14/2005			8942.92				120
4131502667		GABLE, JOYCE A.			17.9				221.53				8558.12			5/16/2005			12338.48				120
4131502688		DIAZ, CARLOS MAURICIO			17.9				211.68				8043.63			6/4/2005			11789.69				120
4131502720		ALLEN, WILLA F.			17.9				160.95				7041.98			6/25/2005			8964				120
4131502721		BOYD, CHIMI L.			17.9				161.51				6125.74			6/27/2005			8995.5				120
4131502759		PETERSON, CARL J.			17.9				173.55				3507.07			7/31/2005			8280				84
4131502769		WATKINS, DARYL V.			17.9				416.97				16113.67			8/8/2005			23223.79				120
4131502770		MCADON, ELLEN M.			17.9				151.17				5734.2			8/8/2005			8419.64				120
4131502812		CLAYTON, MICHELLE			17.9				161.5				6404.67			9/12/2005			8994.81				120
4131502819		HAULEY, JEFF A.			17.9				210.07				7299.48			9/16/2005			11700				120
4131502826		LOPEZ, PHILLIP			17.9				208.32				8429.59			9/20/2005			11602.66				120
4131502872		HOLODY, ALLAN			17.9				125.14				1569.36			10/12/2005			5500				72
4131502902		MONTGOMERY, DENNIS J.			17.9				177.17				5052.29			10/21/2005			8452.68				84
4131502942		MORNINGWAKE, MARY C.			16.9				162.13				3915.17			11/5/2005			8149.3				88
4131502955		MACPEEK, LISA A.			17.9				236.4				8910.71			11/12/2005			13166.33				120
4131502967		OWENS, RICHERD C.			17.9				233.37				9226.99			11/16/2005			12997.73				120
4131503098		WILSON, DEBORAH J.			17.9				219.08				8438.9			1/19/2006			12202.1				120
4131503222		RINCON, MARCO A.			17.9				242.46				9015.48			4/19/2006			11567.86				84
4131503285		RZEPKA, PETER P.			17.9				296.6				11270.69			5/31/2006			14150.95				84
4131503301		MACLEOD, ROBERT			17.9				158.65				4206.81			6/10/2006			7569.12				84
4131503366		PHILLIPS, ROLAND D.			17.9				93.84				802.27			7/18/2006			3200				48
4131503376		ORNELAS, LINDA E.			17.9				250.73				11028.42			7/22/2006			13964.8				120
4131503419		GRAVES, TIM			9.5				117.26				2744.73			8/16/2006			6282.58				70
4131503570		JONES, WILLIAM			17.9				355.35				14767.1			10/26/2006			19791.64				120
4131503642		BREVER, RHONDA L.			17.9				169.87				7727			12/3/2006			9460.98				120
4135000050		ENERDAL, PIA LIND			16.9				150.4				5659.5			11/4/2004			8685				120
4135000133		LAVELY, LISA M.			17.9				188.53				2883.11			12/18/2004			8995				84
4135000187		SLAMKA, JOHN R.			16.9				196				6453.88			1/16/2005			11318.4				120
4135000198		MCLAUGHLIN, WILLIAM J.			16.9				235.18				9830.66			1/19/2005			13581				120
4135000295		SIMPSON, KEVIN S.			16.9				152.95				4327.22			2/20/2005			7505.47				84
4135000331		HENRY, CHARLES P.			16.9				163.28				6678.98			3/5/2005			9429.08				120
4135000367		OATES SR., KENNETH D.			16.9				293.61				11366.45			3/19/2005			16955.21				120
4135000397		LEON, CHARLES C.			16.9				228.54				8963.38			3/29/2005			13197.53				120
4135000409		KING, MARVIN			16.9				246.43				6197.13			4/2/2005			14230.66				120
4135000437		HOPKINS, DAVID T.			16.9				275.44				10081.8			4/10/2005			15906.25				120
4135000450		LOBODY, CHARLIE			16.9				166.35				7374.62			4/17/2005			9605.94				120
4135000488		SCHMID, KIM			16.9				215.72				8511.31			4/29/2005			12457.46				120
4135000499		RODRIGUEZ, CHARLOTTE			16.9				157.48				3081.53			5/1/2005			7727.48				84
4135000513		DUPREE, GARY T.			17.9				217.98				9054.37			5/9/2005			12140.44				120
4135000544		COOPER, GRACE E.			17.9				160.73				4313.95			5/21/2005			8951.86				120
4135000569		BROWER, DAVID			17.9				248.73				11256.13			5/28/2005			13853.37				120
4135000572		WHITE, ANNIE V.			17.9				150.47				5696.11			5/29/2005			8380.26				120
4135000600		RUETSCH, DAVID			16.9				333.69				13983.59			6/11/2005			19269.57				120
4135000640		MATUSOW, MARK			17.9				85.97				1391.57			6/28/2005			4000				80
4135000653		KITZROW, CHARLOTTE G.			17.9				164.74				7005.87			7/9/2005			9175.17				120
4135000755		BELTON, WILEY A.			17.9				169.67				4113.79			9/4/2005			8095				84
4135000792		KUHNS, PHILLIP D.			17.9				249.79				8522.12			9/24/2005			13912.43				120
4135000807		DALEY, JOSEPH G.			17.9				169.58				7927.77			10/1/2005			9444.7				120
4135000881		ALLEN, CHARLES W.			16.9				389.54				17765.49			10/29/2005			22495.34				120
4135000888		BRABBLE, AUSTIN SAMSON			17.9				132.78				5333.65			10/31/2005			7395.44				120
4135000929		DRAP, FRANK			17.9				235.92				9458.17			11/19/2005			13139.56				120
4135000965		ROBERTS, JOYCE			17.9				242.3				11555.56			12/6/2005			13495.16				120
4135001075		COADY, MARSHA L.			12.9				157.3				2346.36			2/4/2006			7856.4				72
4135001240		SMITH, WAYNE H.			17.9				282.03				7529.87			4/6/2006			13455.63				84
4135001279		HUNTER JR., ROBERT L.			17.9				212.47				5464.4			4/23/2006			10136.94				84
4135001378		BOBBETT, ABBEY			17.9				160.42				7279.11			5/20/2006			8934.43				120
4135001379		ANDERSON, TIMOTHY B.			17.9				167.8				7557.87			5/20/2006			9345.5				120
4135001415		GALLEGOS, JOE R.			17.9				283.44				10734.89			6/3/2006			13522.91				84

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER		NAME		INTEREST RATE				PAYMENT AMOUNT				CURRENT BALANCE				CONTRACT DATE				ORIGINAL LOAN AMOUNT				ORIGINAL TERM
4135001585		LEHMAN, SANDRA L.			17.9				131.94				3767.75				8/16/2006				6295				84
4135001685		MAXWELL, CHARLES E.			17.9				131.94				5719.52				9/18/2006				6295				84
4135001873		BARNEY, CAROL			17.9				143.37				4203.41				9/24/2006				6840				84
4135001732		DROWN, KEITH S.			17.9				295.38				15186.68				10/21/2006				16451.58				120
4135001758		GALVEZ, JOSEPH M.			17.9				206.81				6726.58				11/6/2006				9867.03				84
4135001785		SMITH, CHARLES EDWARD			17.9				264.84				11972.91				11/25/2006				14750.58				120
4135001804		HANSON, TRAVIS			17.9				131.94				5599.21				12/12/2006				6295				84
4135004121		BRUNS, JAMES			17.9				193.82				9563.49				12/14/2006				10795				120
4135004161		VIZZERRA JR., EUGENE O.			17.9				131.94				4234.04				12/17/2006				6295				84
4135004492		DUPRE, VIOLET			17.9				163.1				7000.74				1/19/2007				8851.75				112
4135004513		DANIEL, JERRY E.			17.9				188.53				6019.15				1/20/2007				8995				84
4135004585		DUHIGG II, JOHN F.			17.9				158.46				7643.75				1/27/2007				8825.78				120
4135004651		FORD, TERRY G.			17.9				181.34				5719.85				2/2/2007				8652.22				84
4135004686		SPARACINO, PAMELA L.			17.9				239.25				10953.9				2/5/2007				13325.38				120
4135004769		ZAKOS-ARMSTRONG, SHERYLE			17.9				248.85				11521.87				2/12/2007				13860				120
4135004809		FATHI, ADELINA			17.9				169.67				5490.16				2/16/2007				8095				84
4135004850		MUNOZ, JOSE L.			17.9				172.74				8429.63				2/18/2007				9621				120
4135004890		BECKMAN, PATRICIA			17.9				172.89				6302.33				2/22/2007				8248.91				84
4135004935		LUSK, MICHAEL A.			17.9				250.37				12751.76				2/27/2007				13944.77				120
4135004974		PELZEL, SHEILA			17.9				169.67				5522.8				3/4/2007				8095				84
4135004986		ROMAINE, JEROME S.			17.9				500.18				25209.6				3/5/2007				27858.61				120
4135005044		LASEWICZ, RUSSELL J.			17.9				151.45				7046.95				3/11/2007				8435.29				120
4135005050		ANDERSON, ILONA H.			17.9				313.76				10769.26				3/12/2007				17475.37				120
4135005075		MCLAUGHLIN, SUZANNE			17.9				235.03				11364.2				3/13/2007				13090.45				120
4135005098		CORDOVA, LUIS			17.9				248.58				5206.18				3/16/2007				9810				60
4135005116		SCHUMACHER, JAMES B.			17.9				197.96				6774.96				3/17/2007				9445				84
4135005146		CLAUNCH, LINDA			17.9				130.94				4285.78				3/19/2007				6247.5				84
4135005177		LANE, MELIA F.			17.9				258.45				12026.11				3/21/2007				14395				120
4135005303		BLUE, STEFANIE K.			17.9				207.39				7155.09				4/1/2007				9895				84
4135005311		HAHN, DONALD R.			12.9				364.94				4434.86				4/1/2007				10846.5				36
4135005389		WILLIAMS, CHRISTINE J.			17.9				272.81				12447.47				4/8/2007				15195				120
4135005431		LITTELL, RICHARD W.			17.9				188.53				6090.57				4/12/2007				8995				84
4135005444		CLARK, ALLEN			17.9				140.74				5286.66				4/13/2007				6715				84
4135005476		POWER, MARSHA L.			17.9				196.18				6690.04				4/15/2007				9360				84
4135005480		ALVARADO, DIANNA			17.9				169.67				6229.25				4/15/2007				8095				84
4135005688		BATES, TERRILL L.			17.9				145.34				6906.76				5/2/2007				8095				120
4135005708		NEZ, LEROY			17.9				207.39				7924.83				5/5/2007				9895				84
4135005824		PAPP, BRIGITTE K.			17.9				177.66				7917.1				5/16/2007				9895				120
4135005831		MARTIN, R. SCOTT			17.9				226.13				10715.05				5/19/2007				12595				120
4135005835		VALENZUELA, ANDREA			17.9				130.16				5043.08				5/19/2007				6210				84
4135005897		SPENCER-GERBITZ, PATRICIA			17.9				130.16				3849.13				5/23/2007				6210				84
4135005908		DEAN, JACK L.			17.9				171.9				4423.84				5/26/2007				8201.64				84
4135005960		NAGLE, COLLEEN A.			17.9				231.38				10904.7				5/30/2007				12887.18				120
4135006013		ROBERTS, JENNIFER			17.9				249.57				12689.49				6/3/2007				13900.5				120
4135006019		TRESSLER, MERLE D.			17.9				279.57				13315.65				6/4/2007				15571.48				120
4135006038		SAMUELS, JASON			17.9				182.76				6831.74				6/6/2007				8720				84
4135006039		CASTRO, ARMANDO			17.9				132.46				4738.27				6/6/2007				6320				84
4135006043		RAUSCH, LEE			8.9				288.61				11196.35				6/6/2007				17935				84
4135006044		WELCH, LEROY			17.9				98.19				3018.98				6/6/2007				4685				84
4135006059		STUCCHIO, SUSAN M.			17.9				232.04				11688.4				6/9/2007				12924.24				120
4135006068		LA COURSIERE, BARBARA A.			17.9				292.28				10419.71				6/9/2007				13945				84
4135006094		RHILINGER, RICHARD A.			17.9				170.15				3642.96				6/11/2007				6715				60
4135006139		ROMERO, JOEL A.			17.9				172.86				8197.65				6/16/2007				9628				120
4135006140		CARDENAS, SAM E.			17.9				242.38				11470.3				6/16/2007				13500				120
4135006141		JOHNSON, DARYL W.			17.9				197.97				6668.94				6/16/2007				9445.5				84
4135006208		CHAMBERLAIN, MARK			17.9				301.71				10140.7				6/23/2007				14395				84
4135006261		MAIGNAN, GINA			17.9				169.67				5726.8				6/29/2007				8095				84
4135006288		FLORES, VINCENT JAMES			17.9				299.83				10070.61				7/1/2007				14295.88				84
4135006347		WATKINS, CAROLE M.			17.9				167.32				7781.57				7/6/2007				9319.53				120
4135006356		REYES, EDWARD A.			17.9				311.8				14371.44				7/7/2007				17366.39				120
4135006357		HART, BRIAN D.			17.9				215.8				9701.4				7/7/2007				10296				84
4135006379		JENKINS, JUDY M.			17.9				188.63				6703.2				7/8/2007				9000				84
4135006405		KIRKPATRICK, WADE L.			17.9				194.82				8550.34				7/12/2007				9295				84
4135006467		MARQUES, RAYMOND J.			17.9				245.12				7622.57				7/17/2007				11695				84
4135006557		HUSKA, SCOTT A.			17.9				207.39				7385.86				7/24/2007				9895				84
4135006614		MOJARRO, OSVALDO			17.9				165.32				8082.54				7/31/2007				9207.93				120
4135006629		GUTIERREZ, STANLEY J.			17.9				169.67				7438.12				8/2/2007				8095				84
4135006881		RITZA, JEFFERY			17.9				130.16				4860.53				8/26/2007				6210				84
4135006908		HUBER, FRED J.			17.9				145.34				6578.5				8/29/2007				8095				120
4135006918		COSTIN, ROMNA BEATRICE			17.9				145.34				7786.52				8/31/2007				8095				120
4135006936		MAGAN, ARMANDO			17.9				171.47				8778.1				9/1/2007				9550.61				120
4135006967		JUDD, DAVID			17.9				169.58				8138.61				9/3/2007				9445				120
4135007007		CALDWELL, DENNIS A.			17.9				340.46				15972.86				9/7/2007				18962.74				120
4135007050		GAUTHIER, CHARLOTTE A.			17.9				95.58				2701.63				9/10/2007				4200				72
4135007082		MATYAS, RICHARD O.			16.9				254.31				12199.33				9/14/2007				14686.3				120
4135007098		TAYLOR, BETTY ANN			8.5				128.2				5381.47				9/15/2007				8095				84
4135007104		JUNSAY, JOAN			12.9				229.39				8805.61				9/16/2007				12647.01				84
4135007166		RUIZ, SAMUEL E.			17.9				196.64				6894.81				9/22/2007				9382				84
4135007182		LITTLE, CECILIA			17.9				131.94				4669.8				9/23/2007				6295				84
4135007184		NIETO, ANDREA M.			17.9				173.54				6164.31				9/23/2007				8280				84
4135007205		KEITH, RICK E.			17.9				169.67				7086.02				9/25/2007				8095				84
4135007276		CARLSON, ERIN			17.9				163.99				7919.34				10/3/2007				9134				120
4135007328		GREEN, ELLEN L.			17.9				169.59				8367.16				10/7/2007				9445.5				120
4135007387		ALLEN, MICHAEL H.			17.9				197.97				7413.73				10/13/2007				9445.5				84
4135007476		HARDY, LOUISE			17.9				130.16				4624.67				10/20/2007				6210				84
4135007490		GUTIERREZ, MODESTO			13.5				232.61				6382.29				10/21/2007				10795				66
4135007555		WHEAT, WILLA J.			17.9				62.88				2244.96				10/27/2007				3000				84
4135007643		MERRIAM, CAMERON L.			12.9				280.27				1106.41				11/4/2007				8330				36
4135007697		HOPE, KRISTEN			17.9				258.45				12687.39				11/9/2007				14395				120
4135007704		VIDAL, MANUEL V.			17.9				150.8				6121.64				11/10/2007				7195				84
4135007705		WILLIAMS JR., EWART L.			12.5				137.01				7119.34				11/10/2007				7645				84
4135007711		SALCIDO, MICHAEL M.			17.9				150.8				6072.62				11/10/2007				7195				84
4135007721		VARELA, RENEL			17.9				168.75				7952.13				11/11/2007				9399.18				120
4135007742		DEBOER-AYREY, MELINDA M.			17.9				127.75				4618.47				11/12/2007				6095.06				84
4135007792		BARNEY, JAMES S.			15.5				176.08				9686.75				11/17/2007				10710				120
4135007799		COMON, ANTHONY F.			17.9				185.29				6371.64				11/18/2007				8840.41				84
4135007809		BARRETT, DONNA M.			12.9				130.5				6302.88				11/19/2007				7195				84
4135007828		WALSH, DOUGLAS J.			17.9				150.91				4603.41				11/24/2007				7200				84
4135007884		SHEPHERD, AARON			17.9				130.16				4875.65				11/29/2007				6210				84
4135007919		RICO, SHERI P.			17.9				157.3				7520.97				12/2/2007				8761.32				120
4135007951		JOHNSON, BRADY T.			17				137.84				3295.3				12/5/2007				6745				84
4135007965		HOWARD, TERR T.			17.9				136.24				5982.42				12/8/2007				6500				84
4135007978		MONTANO, ANDRES R.			14.9				129.78				6169.91				12/9/2007				6745				84
4135007995		HETRICK, BRIAN			17.9				160.17				8068.51				12/11/2007				8921.09				120
4135008075		DEAN, DENNIS NEAL			17.9				197.96				8884.43				12/22/2007				9445				84

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER		NAME		INTEREST RATE				PAYMENT AMOUNT				CURRENT BALANCE				CONTRACT DATE				ORIGINAL LOAN AMOUNT				ORIGINAL TERM
4135008222		RYAN, JOSEPH			12.5				128.94				6569.11				1/12/2008				7195				84
4135008223		JONES, SCOTT F.			12.5				128.94				5304.86				1/12/2008				7195				84
4135008313		MOORE, STEPHEN C.			17.9				150.8				6679.4				1/20/2008				7195				84
4135008380		MORGAN, THOMAS			17.9				67.97				1446.02				1/29/2008				3000				48
4135008427		O’BITZ, SANDRA Y.			17.37				129.99				4947.16				2/6/2008				6295				84
4135008438		DOYLE, TIM			8				97.53				1729.04				2/9/2008				3995				48
4135008447		JENSEN, CODY W.			17.9				150.8				6630.45				2/9/2008				7195				84
4135008489		GASTELLUM, RICHARD M.			6.9				288.93				11059.39				2/15/2008				16995				72
4135008494		SMITH, WAYNE E.			12.5				280.89				8584.82				2/16/2008				13357.98				66
4135008503		CRILL, BERNERD L.			8.9				166.72				6815.19				2/16/2008				10395				84
4135008508		LATTIN IV, GEORGE T.			17.9				136.24				4708.95				2/17/2008				6500				84
4135008515		LUNSFORD, JODI			15.9				300.94				11311.07				2/17/2008				15195				84
4135008529		MEGDAL, FELICIA			17.9				85.56				1532.52				2/18/2008				3000				50
4135008562		NOLAN, JEFFREY A.			17.9				150.8				5610.24				2/22/2008				7195				84
4135008565		GUEFFROY, GARRY R.			12.5				128.94				5592.08				2/22/2008				7195				84
4135008572		ISHIKAWA, CALVIN M.			16.9				86.32				3668.28				2/23/2008				3690				72
4135008573		DURBAND, DONOVAN			12.5				128.94				5550.46				2/23/2008				7195				84
4135008580		APOLLONIO, HOWARD			17.9				152.79				5761.46				2/23/2008				7290				84
4135008638		WOLF, KALYN			13.9				174.9				9206.11				3/2/2008				11308.43				120
4135008649		JORDAN, DEREK R.			17.9				169.9				6031.11				3/3/2008				8105.96				84
4135008679		VIOLA, DENISE C.			17.9				207.39				8096.26				3/6/2008				9895				84
4135008744		KROLIK, JANICE L.			17.9				158.45				5985.08				3/12/2008				7560				84
4135008799		BRITTON, TOMAS			17.9				150.81				5730.18				3/18/2008				7195.5				84
4135008845		IGONO, ALICE J.			17.9				131.94				6113.04				3/22/2008				6295.02				84
4135008857		WOLITSKI, BOBBY M.			17.9				169.67				6588.19				3/24/2008				8095				84
4135008877		PACHECO, ROLANDO			17.9				108.88				4174.01				3/25/2008				5195				84
4135008887		LINDELL, RICHARD A.			17.9				130.16				5337.86				3/27/2008				6210				84
4135008894		GROPPER, CY A.			17.9				189.01				4214.76				3/28/2008				7459.35				60
4135008943		MALOTT, DEBRA K.			17.9				207.39				8498.95				4/2/2008				9895				84
4135009012		NANCE, GRACE			17.9				322.6				16593.34				4/11/2008				17968.2				120
4135009025		PARRAZ, DANIEL			17.9				282.62				14055.56				4/12/2008				15740.92				120
4135009067		JARLEGO-SMITH, JOSEPHINE			12.5				128.94				5295.89				4/14/2008				7195				84
4135009074		FEHRMANN, ESTHER			0				270.83				1895.85				4/16/2008				3250				12
4135009091		STOREY, DEBRA L.			17.9				113.18				5050.84				4/19/2008				5400				84
4135009092		ODYA, FRANCIS R.			17.9				131.94				371.92				4/19/2008				6295				84
4135009160		COLLINS, JOSHUA L.			17.9				131.94				5930.87				4/26/2008				6295				84
4135009165		UIHLEIN, JAMES			17.5				130.47				5348.01				4/26/2008				6295				84
4135009173		STARKS, BRENDA			17.9				150.8				5762.39				4/27/2008				7195				84
4135009180		JENNINGS, CASEY P.			12.9				120.96				2478.46				4/27/2008				3595				36
4135009188		LYON, DAVID			17.9				181.18				7012.71				4/28/2008				8644.5				84
4135009248		ALLEN, LISA G.			12.5				128.94				5521.39				5/4/2008				7195				84
4135009266		FLACCUS III, E. WILLIAM			17.9				119.47				5167.4				5/6/2008				5700				84
4135009273		BINDAS, KATHY			17.9				207.5				7998.38				5/7/2008				9900				84
4135009313		LARISON, SANDRA S.			12.9				140.45				2764.59				5/12/2008				5245				48
4135009316		TUE, DAVID			17.9				115.07				4201.34				5/13/2008				5490				84
4135009338		RANDKLEV, TOM			17.9				167.42				8433.25				5/17/2008				9325				120
4135009339		HERNANDEZ, RAMON H.			16.9				150.91				7564.12				5/17/2008				8715				120
4135009342		RAMIREZ, JUDITH A.			17.9				131.94				5097.38				5/17/2008				6295				84
4135009348		GOSS, TANYA			17.9				131.94				5152.47				5/18/2008				6295				88
4135009349		RODRIGUEZ ARMENTA, NANCY			17.9				149.02				6842.38				5/18/2008				7110				84
4135009378		LEEK, RICHARD			17.9				113.18				5400				5/21/2008				5400				84
4135009390		MCINTYRE, DAVID J.			17.9				150.8				6012.4				5/23/2008				7195				84
4135009411		FISHER, NORVA L.			17.9				191.93				9192.46				5/25/2008				10690				120
4135009417		PORTILLO RAMIREZ, MANUEL GERONIN			17.9				205.61				7958.81				5/25/2008				9810				84
4135009418		HOFFMAN-CARROLL, O’DETTE			17.9				162.22				7239.62				5/25/2008				7740				84
4135009441		BRADLEY, TARA			17.9				150.81				5805.29				5/28/2008				7195.5				84
4135009447		MAXWELL, CAMILLE			17.9				131.94				5367.52				5/28/2008				6295				84
4135009453		HAWBAKER, EMILY			17.9				226.26				10245.02				5/29/2008				10795				84
4135009454		MAVES, MATTHEW			17.9				113.18				4689.21				5/29/2008				5400				84
4135009501		GOODMON, DAVID R.			17.9				182.87				6947.31				6/4/2008				8725				84
4135009507		KUCZORA, ELMA			17.9				258.46				14026.83				6/6/2008				14395.5				120
4135009513		PLANTIN, LYLE R.			17.9				377.16				16986.32				6/7/2008				17995				84
4135009544		O’DONNELL, ALICE			17.9				271.41				11741.18				6/9/2008				13803.5				96
4135009549		MURPHY, MARGARET S.			17.9				131.94				5152.35				6/9/2008				6295				84
4135009557		CLOSE, MARK			17.9				150.81				5864.75				6/10/2008				7195.5				84
4135009561		MARTINEZ, VIOLA			17.9				132.46				5523.14				6/11/2008				8320				84
4135009567		PETRUSA, JOSEPH A.			17.9				156.57				7204.21				6/12/2008				7470				84
4135009573		CLAYTON-CHOATE, CHASITY			17.9				150.8				7195				6/13/2008				7195				84
4135009575		MCCLINTON, JENNIFER M.			17.9				230.68				11926.37				6/13/2008				12836.1				120
4135009578		PESQUEIRA, RAYMOND F.			17.9				242.29				4828.15				6/14/2008				13495				120
4135009586		TIRADO, ROBERT			8.9				187.57				10820.11				6/15/2008				11695				84
4135009608		BERISH, JOYCE			17.9				199.64				8493.39				6/17/2008				9524.98				84
4135009611		VEIN, RICHARD			17.9				320.58				12385.89				6/17/2008				15295.5				84
4135009629		PARKER, MARY F.			17.9				226.26				7987.43				6/20/2008				10795				84
4135009630		BIESCHKE, BRIAN			16.9				236.69				12939.31				6/21/2008				13668.78				120
4135009633		DYAS, RICAVELLE M.			17.9				226.36				9204.29				6/21/2008				10800				84
4135009666		WEIERMANN, PENNY			12.9				223.74				2293.29				6/23/2008				6650				36
4135009673		ROMO JR., LUIS F.			17.9				234.44				9033.01				6/24/2008				11185.39				84
4135009688		PHAGAN, THOMAS G.			17.9				198.07				7735.4				6/26/2008				9450				84
4135009698		LUND, MARVIN K.			17.9				263.98				11527.23				6/28/2008				12595				84
4135009707		BERRY, MIA			17.9				188.53				7846.67				6/29/2008				8995				84
4135009716		KAGAN, DEBRA L.			17.9				198.07				8434.68				6/30/2008				9450				84
4135009717		THOMAS, CHRISTOPHER			17.9				131.94				8139.39				6/30/2008				6295				84
4135009722		MARTIN, CHARLES			17.9				198.07				7816.05				6/30/2008				9450				84
4135009739		RADTKE, GINA M.			17.9				141.37				6578.27				7/1/2008				6745				84
4135009746		WILLIAMS, VICTOR			17.9				111.29				5144.69				7/3/2008				5310				84
4135009781		NICHOLS, KEN			17.9				198.07				8838.98				7/7/2008				9450				84
4135009782		WHALEN, CARMELITA DOLORES G.			17.9				198.07				9450				7/7/2008				9450				84
4135009819		LOYD, ERIC T.			17.9				212.21				8287.53				7/13/2008				10125				84
4135009828		YOUNG, WILLIAM J.			17.9				292.38				11542.25				7/13/2008				13950				84
4135009834		CATALANO, ANTHONY F.			17.9				126.7				3501.65				7/14/2008				5000				60
4135009838		NOONAN, PATRICIA			17.9				160.34				6261.59				7/14/2008				7650				84
4135009845		AHUMADA, TERESA			17.9				113.18				4423.75				7/15/2008				5400				84
4135009857		OCHOA, MARTIN			17.9				149.02				7067.03				7/16/2008				7110				84
4135009862		CONTRERAS, JUANITA M.			17.9				198.07				9276.1				7/17/2008				9450				84
4135009866		YOUNG, SHARYL G.			12.9				293.16				5250.57				7/17/2008				8713.25				36
4135009868		SLOBODA, GARY J.			17.9				150.8				6175.9				7/18/2008				7195				84
4135009878		SMITH, HAROLD W.			17.9				161.59				8157.84				7/19/2008				9000				120
4135009880		HAVENS, SKY MICHAEL			17.9				141.57				5505.4				7/19/2008				6754.5				84
4135009881		AARONSON, TODD			17.9				311.25				14031.05				7/19/2008				14850				84
4135009900		ARION, DAVID			17.9				131.94				5564.91				7/20/2008				6295				84
4135009910		ROMO, ROBYN K.			17.9				91.01				3229.06				7/21/2008				4000				72
4135009916		MILLER, LAURA			17.9				165.05				6534.98				7/22/2008				7875				84
4135009929		MCKIERNAN, JOIE B.			17.9				90.75				3700.06				7/23/2008				4330				84
4135009933		STERMER, MARLA			17.9				198.07				7816.31				7/24/2008				9450				84

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER		NAME		INTEREST RATE		PAYMENT AMOUNT		CURRENT BALANCE		CONTRACT DATE		ORIGINAL LOAN AMOUNT		ORIGINAL TERM
4135009936		KELLY, STEPHEN		17.9		383.16		19486.44		7/24/2008		21340.88		120
4135009939		ARBIZU, JESSE B.		17.9		289.54		14578.49		7/25/2008		16126.5		120
4135009951		DAVIS, ANA C.		17.9		203.1		8414.52		7/26/2008		9690		84
4135009952		POTTER, MARILYN		17.9		150.91		5922.88		7/26/2008		7200		84
4135009970		CONLEY, LOUIS F.		17.9		160.34		6242.58		7/28/2008		7650		84
4135009972		MADSEN, VERNISE		14.9		294.38		13590.13		7/28/2008		15300		84
4135009976		WESTON, KATHLEEN		17.9		129.95		5085.23		7/28/2008		6200		84
4135009981		JAUREGUI, DORA		17.9		134.14		5293.61		7/29/2008		6400		84
4135009991		VONDERAU, DONALD PATRICK		17.9		150.91		6168.97		7/29/2008		7200		84
4135010011		WOLFF, RUDOLPH R.		17.9		150.8		5988.68		8/2/2008		7195		84
4135010026		SPRAVKA, JOHN J.		17.9		207.5		8554.09		8/3/2008		9900		84
4135010033		PRICE, CINDY		17.9		196.18		7658.76		8/3/2008		9360		84
4135010037		ABDUL-HAKIM, YUSUF K.		17.9		187.61		9934.9		8/4/2008		10449.19		120
4135010051		FRANKO, TOM		17.9		116.79		1533.63		8/5/2008		6485		119
4135010053		MCLOY JR., JESSE R.		17.9		91.34		3101.91		8/5/2008		4357.94		84
4135010062		RIGGS, RANDIESIA		17.9		264.09		10269.37		8/6/2008		12600		84
4135010064		TOMPKINS, THOMAS H.		17.9		168		8358.26		8/7/2006		9357.13		120
4135010065		STERLING, KEVIN J.		17.9		158.45		6317.38		8/7/2008		7560		84
4135010069		KLOCK, JULIA CATHY		17.9		471.58		8000.7		8/7/2008		22500		84
4135010070		GILMAN, ROSANNE		17.9		131.94		5206.75		8/7/2008		6295		84
4135010079		KING, CHRISTOPHER M.		17.9		207.39		8184.59		8/8/2008		9895		84
4135010089		GRAHAM, PHILIP		17.9		152.03		4299.12		8/9/2008		6000		60
4135010094		SIMPKINS, PETER		17.9		125.76		4949.58		8/10/2008		6000		84
4135010095		LOPEZ, SAM		17.9		160.34		7259.28		8/10/2008		7650		84
4135010133		KARLSSON, LARS M.		17.9		176.13		39.44		8/13/2008		9810		120
4135010144		PALMER, JOSEPH E.		17.9		339.44		11059.66		8/16/2008		16195		84
4135010145		PERALTA, MANUEL EFREN		0		291.25		2912.5		8/16/2008		3495		12
4135010163		JORGENSEN, GEORGE		17.9		603.63		25530.59		8/17/2008		28800		84
4135010164		JORGENSEN, GEORGE		17.9		603.63		25530.59		8/17/2008		28800		84
4135010181		GECHMAN, MARVIN C.		16.9		267.67		13195.37		8/20/2008		15457.81		120
4135010189		BELL, MARY		17.9		216.93		9384.16		8/22/2008		10350		84
4135010200		WELLS, DENIS		17.9		112.97		2258.4		8/23/2008		5390		84
4135010207		WITHERS, ROBERT H.		17.9		603.63		26323.57		8/24/2008		28800		84
4135010210		ROMANIK, PETER B.		17.9		339.44		13548.27		8/24/2008		16195		84
4135010211		WILLS, RONALD F.		17.9		83.84		3342.51		8/25/2008		4000		84
4135010213		BAJARDI JR., BERNARD P.		17.9		149.02		5941.18		8/25/2008		7110		84
4135010220		SINTICH, MARY ANN		17.9		339.54		13522.35		8/25/2008		16200		84
4135010231		THACKER, MARK		17.9		158.45		6371.07		8/27/2008		7560		84
4135010232		HINKLE, RICHARD CARL		17.9		177.36		8827.13		8/27/2008		9878.43		120
4135010240		HARRISON, JOHN F.		17.9		167.67		5773.19		8/29/2008		8000		84
4135010242		PEJ, GIILLERMO		17.9		165.27		8884.18		8/29/2008		9205.1		120
4135010244		ASK, MARILYN J.		17.9		113.18		4526.68		8/29/2008		5400		84
4135010258		RIVERS, NANCY		17.9		207.5		8224.11		8/30/2008		9900		84
4135010260		SAGER, DEANE H.		17.9		235.79		7743.43		8/31/2008		11250		84
4135010262		HANSEN, SCOTT		17.9		193.75		9788.22		8/31/2008		10791.2		120
4135010278		QUINTERO, JORGE L.		17.9		132.46		5334.93		9/1/2008		5320		84
4135010283		MARTINEZ, CELESTINO		17.9		207.5		9840.17		9/1/2008		9900		84
4135010296		SALDATE, JOHNNY		17.9		318.79		12807.89		9/4/2008		15210		84
4135010305		MARKS, MARNI		17.9		150.22		4000		9/6/2008		7167		84
4135010306		YARMY, STEVEN L.		17.9		255.31		13045.91		9/6/2008		14220		120
4135010339		VALITZSKI, PAUL J.		17.9		208.65		10660.66		9/9/2008		11621		120
4135010364		HOLLEY, MELVIN T.		17.9		204.67		11077.9		9/13/2008		11399.58		120
4135010368		LIM, DANA ROBIN		17.9		205.61		8279.67		9/14/2008		9610		84
4135010370		VANNETT, ANGELA		17.9		125.47		5071.83		9/14/2008		5986.36		84
4135010412		VILLAFLORES, ELY V.		8.9		268.61		14302.22		9/20/2008		17995		84
4135010421		RAMOS, DAWN		17.9		123.08		4505.52		9/21/2008		5492.87		74
4135010422		RIOJAS, RICHARD A.		17.9		149.02		6117.25		9/21/2008		7110		84
4135010454		LEE, DAVID		17.9		207.5		8339.68		9/24/2008		9900		84
4135010465		VILLAVICENCIO, ESPERANZA D.		17.9		209.76		10555.7		9/26/2008		11683.24		120
4135010475		RICE, JERRIE		17.9		198.07		7975.69		9/27/2008		9450		84
4135010505		KLEIN, TIM		12.9		277.33		6239.71		10/1/2008		8242.5		36
4135010524		TANG, CHRISTOPHER		17.9		85.41		2978.6		10/5/2008		4000		81
4135010535		ALVAREZ, DEREK		12.9		175.03		7440.95		10/5/2008		9650		84
4135010536		GRIMES, CHRISTOPHER E.		17.9		209.59		9140.13		10/5/2008		10000		84
4135010546		DEMARTINO, BILL		17.9		167.67		7426.76		10/6/2008		8000		84
4135010550		GARMENT, STANLEY J.		17.9		207.39		8243.27		10/7/2008		9895		84
4135010558		HEIMANN, JAYNE HELEN		17.9		113.08		4440.84		10/7/2008		5395		84
4135010590		SOMODEAN, LUCIA		17.9		324.45		13289.36		10/11/2008		15480		84
4135010594		MARTINEZ SR., STEVE G.		17.9		151.22		6307.85		10/11/2008		7690.87		96
4135010612		KRISTY, HELEN S.		17.9		198.07		8530.75		10/14/2008		9450		84
4135010639		WILLIAMS, HELENE G.		17.9		113.18		4605.78		10/16/2008		5400		84
4135010648		FLOYD, HARRINGTON		17.9		158.45		6443.01		10/17/2008		7560		84
4135010650		KRANTZ, MICHAEL L.		12.5		134.41		6116.87		10/17/2008		7500		84
4135010654		COLLAR, COLLEEN		17.9		152.79		6208.31		10/18/2008		7290		84
4135010680		COOPER, GARY W.		17.9		224.83		9142.09		10/21/2008		10727		84
4135010698		RAKOW, NATALIE A.		17.9		113.08		4597.71		10/23/2008		5395		84
4135010709		SALAZAR, OSCAR		17.9		224.89		11643.21		10/24/2008		12525.88		120
4135010727		COOK, PAMELA		17.9		122.61		5323.15		10/27/2008		5850		84
4135010735		PURDOM, JUDITH J.		17.9		246.48		10022.48		10/29/2008		11760		84
4135010757		MIHALCHICK, KATHLEEN		10.9		368.71		17645.87		11/1/2008		21600		84
4135010763		RYAN, ROBERT G.		12.9		195.8		8927.13		11/2/2008		10795		84
4135010771		BETHUNE, MARY		10.9		129.05		5176.19		11/3/2008		7560		84
4135010788		KEENAN, THOMAS J.		17.9		160.34		7442.76		11/4/2008		7650		84
4135010803		WARD, ANNE		17.9		318.98		14923.51		11/8/2008		15219		84
4135010824		WILLIAMS, STEPHEN R.		17.9		149.02		5883.93		11/9/2008		7110		84
4135010828		KNOX, WILLIAM H.		17.9		111.29		4295.17		11/10/2008		5310		84
4135010859		KRUEGER, JOHN S.		17.9		198.66		10048.38		11/14/2008		11064.66		120
4135010877		RIDDLE, DONALD R.		17.9		205.61		8440.28		11/16/2008		9810		84
4135010879		JOHNSON, SANDRA K.		17.9		235.69		9674.89		11/16/2008		11245		84
4135010908		BROWN, JERRY BENJAMIN		17.9		149.02		6117.25		11/19/2008		7110		84
4135010958		LOWE, DAVID L.		17.9		188.53		8995		11/24/2008		8995		84
4135011005		OLSON, C. REX		16.9		415.26		22502.33		12/2/2008		23979.98		120
4135011010		WHITE, JEFFERY C.		17.9		153.54		8289.39		12/2/2008		8551.91		120
4135011023		HUBBARD, MARILYN FRENCH		17.9		188.53		7739.02		12/4/2008		8995		84
4135011034		WHARTON, JEFF		14.9		297.85		13116.79		12/6/2008		15480		84
4135011064		MACK, MARY		17.9		130.89		5388.87		12/9/2008		6245		84
4135011104		NEFF, KEITH		12.9		142.83		6655.87		12/16/2008		7875		84
4135011105		WARREN, SCOTT		17.9		197.96		6850.56		12/16/2008		9445		84
4135011127		TALATZKO, LISA		17.9		111.29		4611.12		12/20/2008		5310		84
4135011135		SNOWDEN, TRACY		17.9		282.68		14670.14		12/21/2008		15744.26		120
4135011156		BAAS, JOHN		17.9		111.08		4713.29		12/24/2008		5300		84
4135011158		ELLIOTT, ANTHONY J.		17.9		160.34		6563.11		12/24/2008		7650		84
4135011164		IMLAH, ANTHONY		17.9		116.95		5030.8		12/26/2008		5580		84
4135011166		ROACH, DON		17.9		160.52		8346.24		12/27/2008		8940.28		120
4135011169		GOMEZ, RENE G.		17.9		154.64		8043.05		12/27/2008		8613		120

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER		NAME		INTEREST RATE				PAYMENT AMOUNT				CURRENT BALANCE				CONTRACT DATE				ORIGINAL LOAN AMOUNT				ORIGINAL TERM
4135011201		SHANLEY, RUTHANN			17.9				137.49				5541.53				12/29/2008				6560				84
4135011209		MC MILLEN, ARNOLD			17.9				291.53				16041.27				12/30/2008				16243.1				120
4135011215		WESTOVER, NEIL K.			17.9				116.95				5346.37				12/30/2008				5580				84
4135011221		APOSTOLIK, THOMAS M.			17.9				450.62				18670.44				1/2/2009				21500				84
4135011241		SULJAK, JANET T.			16.9				194.1				10457.55				1/4/2009				11209.18				120
4135011244		POWER, DEBORAH JANE			17.9				149.02				6174.18				1/4/2009				7110				84
4135011272		JULIUSSON, PAUL D.			0				254.17				3050				1/10/2009				3050				12
4135011283		MUNDEN, RICHARD C.			17.9				130.16				5250.44				1/12/2009				6210				84
4135011291		DAWSON, DEBORAH J.			17.9				129.95				5755.67				1/15/2009				6200				84
4135011308		SURATOS, CELSO E.			17.9				104.8				4451.35				1/17/2009				5000				84
4135011328		KYLE, SYD			17.9				205.61				8596.21				1/18/2009				9810				84
4135011348		LEHMAN, ANGELA M.			17.9				129.95				5432.8				1/22/2009				6200				84
4135011351		BROGDON, YVONNE			17.9				220.26				12036.04				1/23/2009				12268.15				120
4135011357		DUNN, PAUL M.			17.9				270.14				14169.09				1/24/2009				15048.12				120
4135011362		DAVIS, ARNOLD			17.9				150.8				7195				1/25/2009				7195				84
4135011391		HENSCEY, MICHAEL			17.9				224.26				10226.65				1/30/2009				10700				84
4135011402		HURLEY, JAMES E.			17.9				337.65				14116.86				1/31/2009				16110				84
4135011411		HERNANDEZ, ART			17.9				230.13				9621.53				2/2/2009				10980				84
4135011422		MC ROBERTS, LYNNE E.			17.9				116.95				4889.61				2/4/2009				5580				84
4135011431		MAPLE, MARY			17.9				149.02				6230.27				2/7/2009				7110				84
4135011446		FLATT, JAMES E.			17.9				113.08				4768.75				2/8/2009				5395				84
4130210237		ESCLANTE RIVERA, JULIO CESAT			17.9				229.07				333.12				7/22/2005				9040				60
4130210251		JIMENEZ ORNELAS, ROBERTO			17.9				180.42				761.7				9/29/2005				7120				60
4130210255		SYMONDS FELIX, JOSE V.			17.9				279.75				1077.43				10/27/2005				11040				60
4130210286		RAMIREZ INZUNZA, MARIO			17.9				172.31				4752.73				7/24/2006				6800				60
4130210287		HERNANDEZ MADERA, JOSE REFUGIO			17.9				172.31				2272.15				7/24/2006				6800				60
4130210297		VILLALOBOS OLIVAS, JOSE			17.9				182.77				7286.54				7/28/2006				8720				84
4130210298		VALDEZ IBARRA, ERNESTO			17.9				132.47				3820.32				7/28/2006				6320				84
4130210300		AVALOS MENDOZA, ROBERTO			17.9				132.47				5280.95				7/28/2006				6320				84
4130210312		RAMIREZ PAREDES, JORGE E			17.9				172.31				2515.46				9/20/2006				6800				60
4130210313		VANEGAS ANSOTEGUI, JESUS			17.9				172.31				2435.94				9/20/2006				6800				60
4130210314		MORALES LEON, LAMBERTO			17.9				172.31				2463.93				9/20/2006				6800				60
4130210317		TRUJILLO FELIX, REYNALDO			17.9				132.47				4008.34				9/20/2006				6320				84
4130210324		CAMARENA CASTELLANOS, CONCEPCI			17.9				212.85				3033.51				10/9/2006				8400				60
4130600131		GOMEZ ALBARRAN, ALEJANDRO			15.9				269.26				3958.63				12/23/2002				13595				84
4130600760		OLIVERO H., ANA MARIA			16.9				108.54				3970.9				8/22/2004				6268				120
4130600934		COTA MUNOZ, GILBERTO			16.9				175.24				3429.06				4/24/2005				8599.01				84
4130601008		CHAVEZ ORTIZ, ALBERTO			17.9				132.47				2758.71				6/22/2005				6320				84
4130601031		AMPARAN, FELIPE			17.9				166				3950.06				7/4/2005				7920				84
4130601037		HERNANDEZ M., MARIA TERESA			17.9				165.58				3752.28				7/10/2005				7900				84
4130601061		NUJZ C., VICENTE RICARDO			17.9				249.84				5330.54				7/26/2005				11920				84
4130601161		COVARRUBIAS P., ALBERTO JAVIER			17.9				132.47				4074.59				10/15/2005				6320				84
4130601202		TAPIA GARDNER, ENGUERRANDO O.			17.9				271.35				12729.44				12/3/2005				15113.13				120
4130601207		RIVERA O., JESUS ANTONIO			17.9				160.15				893.71				12/5/2005				6320				60
4130601250		ORTEGA, RICARDO A			17.9				135.02				6479.72				2/19/2006				7520				120
4130601259		FIGUEROA M., ABELARDO			17.9				132.47				4290.87				3/12/2006				6320				84
4130601299		CARLOS MELENDEZ, FRANCISCO J.			17.9				200.69				4969.2				4/9/2006				7920				60
4130601310		MONTOYA, CAROLINA			17.9				299.51				6004.73				4/19/2006				11820				60
4130601325		HERNANDEZ. BEATRIZ			17.9				249.84				9559.41				4/29/2006				11920				84
4130601327		CABALLERO V., GUILLERMO A.			17.9				174.39				4517.57				4/30/2006				8320				84
4130601376		AROCHI, SARA MARITZA			17.9				166				5776.63				6/18/2006				7920				84
4130601405		MAYTORENA, OMAR			17.9				160.15				2440.71				7/5/2006				6320				60
4130601406		AVILEZ LORETO, MAGNOLIA			17.9				160.15				1630.1				7/5/2006				6320				60
4130601412		VIATER RUBIO, HENRY RICHARD			17.9				233.16				6480.86				7/8/2006				11124				84
4130601413		SERVIN DE LA MORA, RAMON ARTURO			17.9				302.05				3790				7/9/2006				11920				60
4130601431		BELTRAN E., JORGE A.			17.9				160.15				2607.51				7/22/2006				6320				60
4130601437		GOMEZ PUENTE, RAMON			17.9				312.18				4151.27				7/26/2006				12320				60
4130601440		ENCINAS J., RAMON HECTOR			17.9				210.83				2359.46				8/1/2006				8320				60
4130601524		ANGUIANO OROZCO, JESUS			17.9				291.16				8489.87				10/2/2006				13891.5				84
4135004294		CASTAL, JORGE A.			17.9				132.46				4040.8				12/31/2006				6320				84
4135004309		RICARDEZ LOURDES, FCO.JAVIER COR			17.9				252.19				7692.87				1/2/2007				12032.28				84
4135004602		RAMOS DURAN, RINGO			17.9				132.46				4111.93				1/28/2007				6320				84
4135004747		ENRIQUEZ MORENO, LAURA ELENA			17.9				129.11				4143.26				2/11/2007				6160				84
4135004821		DE LATORRE S., ESTEBAN			17.9				132.46				5391.26				2/17/2007				6320				84
4135005127		NUJZ WONG, JOEL			17.9				115.7				3956.42				3/18/2007				5520				84
4135005371		FRANCO, HECTOR			17.9				129.11				4224.11				4/6/2007				6160				84
4135005376		RAMIREZ Q., XX.XX LOS ANGELES			17.9				182.76				7775.69				4/6/2007				8720				84
4135005416		MONTOYA, LUIS ENRIQUE			17.9				115.7				3899.86				4/10/2007				5520				84
4135005419		PUJOL R., RODOLFO			17.9				182.76				5974.43				4/11/2007				8720				84
4135005466		TAPIA LOPEZ, CESAR			17.9				182.76				6143.05				4/14/2007				8720				84
4135005699		GARZA OSORNIO, JUAN F.			17.9				241.23				4223.63				3/12/2007				9520				60
4135005728		CUMMING MEXIA, CARLOS			17.9				132.46				5029.55				5/6/2007				6320				84
4135005805		TORRES, VALENTIN LEON			17.9				125.65				4360.51				5/14/2007				5995				84
4135006063		SALGUERO, SERGIO			17.9				207.92				6567.64				6/9/2007				9920				84
4135006263		CHAVEZ HERNANDEZ, JOSUE L.			17.9				132.47				5537.84				6/29/2007				6320				84
4135006264		BOUZA MOLINA, WILBERTO J.			17.9				199.54				6804.08				6/29/2007				9520				84
4135006298		LOPEZ M., FRANCISCO OCTAVIO			17.9				199.53				6578.81				7/1/2007				9520				84
4135006349		LEMAS, BERTHA JULIA			17.9				191.15				7881.15				7/6/2007				9120				84
4135006489		BONILLAS F., JESUS FERNANDO			17.9				132.46				5776.54				7/20/2007				6320				84
4135006564		NAVA DE LA MORA, ROSE IVETTE			12.9				388.25				6605.91				7/25/2007				11480				36
4135006621		GASTELUM H., JULIO J.			17.9				191.8				6633.47				8/1/2007				9151				84
4135006698		PASOS, MARTIN			17.9				132.46				5968.91				8/10/2007				6320				84
4135006728		ANGULO SAAVEDRA, EDITH J.			17.9				132.55				4798.66				8/12/2007				6324				84
4135006732		ESQUER, JESUS LEOPOLDO			17.9				308.52				12423.78				8/12/2007				14720				84
4135007037		URIAS, JESUS LAURO			17.9				274.99				10577.73				9/9/2007				13120				84
4135007708		CASTANEDA FELIX, EDUARDO A.			12.9				195.51				776.68				11/10/2007				5810.68				36
4135007907		FLORES AVILA, MARIA DEL CARMEN			17.9				332.45				9400.57				12/1/2007				13120				60
4135008416		CUELLAR H., ALFREDO			17.9				384.87				17046.79				2/4/2008				18362.64				84
4135008440		MEZA LOPEZ, LUIS MANUEL			17.9				406.83				18680.03				2/9/2008				19410.56				84
4135008911		SANCHEZ CAL Z, ROBERTO ALFONSO			17.9				115.78				5279.58				3/30/2008				5524				84
4135008918		GOMEZ CORTEZ, JORGE			17.9				207.92				7855.22				3/30/2008				9920				84
4135008923		MELO SALAZAR, ADAMINA			17.9				288.35				7978.34				3/31/2008				11379.79				60
4135009049		GASTELUM, RAMON ALBERTO			17.9				132.46				5186.28				4/13/2008				6320				84
4135009143		SALAZAR ROCA, LUIS GUSTAVO			17.9				132.46				5077.65				4/23/2008				6320				84
4135009244		GOMEZ EGURROLA, JOSE ARTURO			17.9				132.46				5061.6				5/4/2008				6320				84
4135009259		BALDENEBRO HEREDIA, RENE			17.9				199.53				8192.78				5/5/2008				9520				84
4135009298		RODRIGUEZ ROMERO, AGUSTIN			17.9				201.21				8912.9				5/11/2008				9600				84
4135009302		VERGARA DANIEL, MANUEL			17.9				182.76				8334.21				5/11/2008				8720				84
4135009355		ARAGON NORIEGA, EUGENIO ALBERTC			17.9				220.96				7091.13				5/18/2008				8720				60
4135009463		MACIAS, JOSE JUAN			17.9				132.46				5822.36				5/31/2008				6320				84
4135009524		MONJARAZ ALEMAN, ABEL			17.9				220.96				6186.96				6/7/2008				8720				60
4135009525		TELLEZ V., HECTOR A.			17.9				132.46				5478.59				6/7/2008				6320				84
4135009531		RIVERA LOPEZ, IMELDA			17.9				182.76				8156.25				6/8/2008				8720				84
4135009579		BARBA MUNGUIA, FABIOLA			17.9				132.46				6243.05				6/14/2008				6320				84
4135009584		OSORIO ACOSTA, GUADALUPE			17.9				191.15				8401.57				6/14/2008				9120				84

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER		NAME		INTEREST RATE				PAYMENT AMOUNT				CURRENT BALANCE				CONTRACT DATE				ORIGINAL LOAN AMOUNT				ORIGINAL TERM
4135009590		CANCHOLA GALVEZ, LUIS ALONSO			17.9				132.46				6203.71				6/15/2008				6320				84
4135009663		MANRIQUE, CARLOS			17.9				182.76				8509.92				6/23/2008				8720				84
4135009706		GARCIA BAUTISTA, SALVADOR CARLOS			17.9				182.76				8275.77				6/29/2008				8720				84
4135009709		BENITEZ CHAVEZ, SERGIO J.			17.9				249.59				6766.9				6/29/2008				9850.09				60
4135009731		MOLINA E., HECTOR R.			17.9				305.64				16610.23				7/1/2008				17023.59				120
4135009824		SAUCEDO ACUD, ADOLFO			17.9				132.46				5262.89				7/13/2008				6320				84
4135009856		VALENZUELA, TRINIDAD			17.9				182.76				8391.81				7/16/2008				8720				84
4135009882		ARAIZA SERRANO, JOSE RICARDO			17.9				132.46				5502.12				7/19/2008				6320				84
4135009889		PEREZ MEDINA, JOSE RAUL			17.9				191.15				8964.48				7/19/2008				9120				84
4135009898		GARCIA MARQUEZ, RUBEN			17.9				220.96				8363.22				7/20/2008				8720				60
4135009919		DUARTE NORIEGA, RAMON ANGEL			17.9				115.7				4879.8				7/22/2008				5520				84
4135009940		RZYSKO G., ZYGFRYD			17.9				242.74				12362.52				7/25/2008				13520				120
4135009985		VIZCARRA SANCHEZ, MARTIN RAMON			17.9				182.76				8171.25				7/29/2008				8720				84
4135010018		BRICEU, LORENZO ERNESTO			12.9				256.72				2925.98				8/2/2008				7630				36
4135010019		VERDUGO ROJAS, OMAR CRISTOBAL			17.9				132.46				5243.58				8/2/2008				6320				84
4135010107		MARTINEZ ROJAS, JORGE			17.9				178.38				9779.63				8/10/2008				9935.14				120
4135010121		BARRAZA PLIEGO, AMADOR			17.9				258.54				13240.84				8/12/2008				14400				120
4135010160		MELO LOPEZ, ERASMO			17.9				170.01				549.61				8/17/2008				6709.59				60
4135010177		VAZQUEZ DURAN, DAVID			17.9				182.76				8391.81				8/19/2008				8720				84
4145010028		GALLEGOS, GRACIELA			17.9				132.46				5334.11				8/3/2008				6320				84
4145010176		VEGA GALAZ, RAMON			17.9				182.76				7359.79				8/19/2008				8720				84
4145010234		VILLALOBOS NAVARRO, MANUEL DE JE			17.9				132.46				5281.21				8/28/2008				6320				84
4145010310		ENRIQUEZ QUIJADA, YOLANDA MARGAI			17.9				132.46				5488.18				9/6/2008				6320				84
4145010359		RIVERA DE LA TORRE, SERGIO ALONSO			17.9				132.46				5488.18				9/13/2008				6320				84
4145010425		CADENA Y CADENA, EDGAR VALDEMAF			17.9				182.76				8720				9/21/2008				8720				84
4145010578		ESTRADA CHONG, LIBRADO ENRIQUE			17.9				196.24				7963.85				10/11/2008				9363.13				84
4145010864		RAMIREZ SANCHEZ, FEDERICO ARTUR			17.9				283.37				12116.31				11/15/2008				13520				84
4145010929		CAMBEROS PEREZ, ENRIQUE			17.9				274.99				11288.07				11/22/2008				13120				84
4145011196		RAMIREZ MARTINEZ, ENRIQUE			17.9				132.46				5488.18				12/29/2008				6320				84
4130601070		URENA, ROBERT			17.9				178.16				4791.43				8/2/2005				8500				84
4130701871		ACOSTA, SAMUEL			17.9				131.94				1277.1				3/23/2003				6295				84
4130702759		PACIFIQUE-BAIRDOW, ANNETTE T.			16.9				218.11				7137.9				7/24/2003				12595				120
4135001265		FORREST, DIANA			17.9				131.94				3908.27				4/21/2006				6295				84
4135006295		MAY, JEFFREY S.			17.9				135.71				5172.97				7/1/2007				6475				84
4135006390		CHAVEZ, GUSTAVO A.			17.9				197.97				8393.31				7/9/2007				9445.5				84
4135010534		HERRERA, JAMES			17.9				150.8				6470.1				10/5/2008				7195				84
4135010666		GEISSLER, CANDACE			17.9				149.02				6511.11				10/19/2008				7110				84
4135010795		LEVY, SETH			17.9				149.02				6285.54				11/6/2008				7110				84
4135010923		JACKMAN, PATRICK A.			17.9				136.65				5813.94				11/21/2008				6520				84
4135010975		BRASHEAR, WAYNE			17.9				111.29				5039.48				11/28/2008				5310				84
4135011110		LYTLE, BURNIECE			17.9				111.29				4010.75				12/18/2008				5310				84
4135011180		ESTRADA, JOHN D.			17.9				111.29				82.69				12/28/2008				5310				84
4135011198		THOMPSON, LYNDA MAE			17.9				111.29				4799.96				12/29/2008				5310				84
4135011213		MEINERT, JAMES			17.9				116.95				4863.61				12/30/2008				5580				84
4135011276		CORTEZ, MIKE			17.9				149.02				6285.54				1/11/2009				7110				84
4135011310		IMPENS, BARBARA A.			17.9				150.8				6487.48				1/17/2009				7195				84
4135011313		FALLON, BRIAN J.			17.9				150.8				6628.23				1/17/2009				7195				84
4135011315		HOPKINS, JEANNE			17.9				141.48				6069.82				1/17/2009				6750				84
4135011392		DE LOS SANTOS, CAROL ANDERSON			17.9				149.02				6339.99				1/30/2009				7110				84
4135011395		SUTTER, DEEANN			17.9				150.91				7112.33				1/31/2009				7200				84
4135011399		SAMANIEGO, LISA			17.9				115.07				5388.96				1/31/2009				5490				84
4135011430		CHARLES, KEITH			17.9				160.34				6630.46				2/7/2009				7650				84
4135011432		HEINTZELMAN, COLLEEN			17.9				243.34				10695.44				5/16/2009				11610				84
4135011461		WOOD, JOHN G.			12.9				171.4				8155.34				2/10/2009				9450				84
4135011472		COOLIDGE, CAROLYN			17.9				149.02				6699.39				2/12/2009				7110				84
4135011492		GORMAN, KERI A.			16.9				137.45				5935.78				2/15/2009				6745				84
4135011501		PASTOR, LAURA			17.9				150.91				6365.02				2/15/2009				7200				84
4135011516		ROBERTS, RUTH E.			17.9				85.53				3111.66				2/17/2009				3700				70
4135011517		SCHOLTENS, KATHLEEN BEAVER			17.9				196.07				8242.22				2/17/2009				9450				84
4135011538		ROTHENBERGER, PAMELA A.			13.9				232.02				9275.58				2/21/2009				11289.26				72
4135011545		CARCOBA, JOSE A.			17.9				224.26				9445.19				2/22/2009				10700				84
4135011559		MOORE, EDWINA			17.9				200.7				10596.02				2/24/2009				11178.31				120
4135011567		WILSON JR., HOWARD			17.9				149.02				6614.13				2/25/2009				7110				84
4135011576		SLUSAR, DAVID A.			17.9				215.04				6872.08				2/27/2009				10260				84
4135011586		SALDANA, JESUS S.			17.9				150.81				6361.15				2/28/2009				7195.5				84
4135011590		WILLIAMS, CHARLES			17.9				149.02				7021.45				2/28/2009				7110				84
4135011591		COLEMAN, ROBIN A.			17.9				150.33				7884.97				3/1/2009				8373.07				120
4135011607		KAFKER, RONALD B.			17.9				150.81				6679.88				3/2/2009				7195.5				84
4135011635		MARTONE, PAULETTE G.			12.9				145.28				6912.63				3/8/2009				8010				84
4135011642		FARHAR, DENNIS L.			4.9				262.96				1810.91				3/9/2009				6000				24
4135011648		WILLCOX, RAY D.			12.9				195.8				9316.59				3/10/2009				10795.5				84
4135011655		GLENNIE, JUDITH ANN			17.9				85.53				3173.72				3/12/2009				3700				70
4135011666		HARMAN, JANEL B.			11.9				189.98				9036.94				3/14/2009				10795				84
4135011672		ROSA, BRIAN			11.9				175.82				8736.29				3/15/2009				9990				84
4135011683		CONDON, KEVIN			12.9				179.47				8810.94				3/16/2009				9895				84
4135011692		LOYNES, DANIEL J.			12.9				179.47				8626.13				3/17/2009				9895				84
4135011723		ENGSTROM, STACY			4.9				219.02				1366.89				3/22/2009				4997.5				24
4135011728		WEBER, ROXANNE			11.9				189.98				10018.28				3/22/2009				10795				84
4135011741		GIBSON, TYLA			11.9				189.99				9365.06				3/24/2009				10795.5				84
4135011748		ZALAC, MARGARET			12.9				182.83				8787.35				3/25/2009				10080				84
4135011749		CANTU, ROBERT A.			16.9				93				2860.62				3/25/2009				3750				60
4135011756		GALLEGOS, CYNTHIA			11.9				189.98				9958.09				3/27/2009				10795				84
4135011760		BURCH, BOBBY R.			12.9				150.18				7705.15				3/28/2009				8280				84
4135011763		HARSH, RAYMOND			17.9				150.03				7958.79				3/28/2009				8356.53				120
4135011767		CURTIS, CHRISTINE K.			11.9				207.5				10483.06				3/28/2009				11790				84
4135011781		MONTOYA, DANOIS R.			11.9				207.5				10627.83				4/1/2009				11790				84
4135011784		MISCHIEK, LINDA			11.9				189.98				9057.11				4/2/2009				10795				84
4135011785		DAVENPORT, LANNY E.			11.9				109.91				5392.55				4/2/2009				6245				84
4135011797		VANO JR., ROBERT			11.9				142.47				7094.37				4/4/2009				8095				84
4135011798		BUNN, KELLY			11.9				147.31				7260.8				4/5/2009				8370				84
4135011828		PARRISH, CATHLEEN M.			11.9				207.5				10190.14				4/9/2009				11790				84
4135011835		JENKS, MARK			17.9				149.02				6339.99				4/10/2009				7110				84
4135011842		DIMICK, MATTHEW A.			17.9				184.56				9719.93				4/11/2009				10279.57				120
4135011844		TRUJILLO, LIONEL			11.9				207.5				10326.31				4/11/2009				11790				84
4135011847		LOPEZ, FERMIN E.			12.9				128.96				6333.38				4/11/2009				7110				84
4135011848		COOMBES, PENNY			11.9				207.5				9933.41				4/11/2009				11790				84
4135011850		REYES, ROBERTO P.			11.9				165.43				8052.17				4/12/2009				9400				84
4135011873		KIRKSAY, TERRANCE			12.9				89.8				3763.08				4/14/2009				4485				72
4135011885		WISSORE, DEENA			4.9				197				1737.28				4/17/2009				4495				24
4135011886		BRYDGES, LEEANN			4.9				155.58				1334.79				4/17/2009				3550				24
4135011924		ESCALANTE, ANDREA			11.9				153.64				7651				4/23/2009				8730				84
4135011925		BULTMAN, JAMES E.			12.9				114.18				5528.98				4/24/2009				6295				84
4135011933		PATTON, BRYON			17.9				179.48				9490.11				4/25/2009				9996.45				120
4135011939		WELLS, COLISSION			12.9				199.15				9667.27				4/25/2009				10980				84
4135011951		GARRISON, RAYMOND LEO			17.9				117.37				4983.43				4/26/2009				5500				84

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER		NAME		INTEREST RATE				PAYMENT AMOUNT				CURRENT BALANCE				CONTRACT DATE		ORIGINAL LOAN AMOUNT				ORIGINAL TERM
4135011952		KAMROWSKI, RALPH E.			12.9				114.18				5542.27			4/26/2009			6295				84
4135011961		BANTA, DYAN			12.9				114.19				5302.16			4/27/2009			6295.5				84
4135011967		DUENAS, JUAN J.			12.9				163.16				7919.92			4/28/2009			8995.5				84
4135011969		HERNANDEZ, LINDSAY			17.9				89.08				3639.65			4/28/2009			4250				84
4135011970		BRUMMETT, DAVID L.			11.9				110.79				5516.85			4/29/2009			6295				84
4135011979		FOUNTAIN, FRANKLIN C.			4.9				240.83				2123.73			4/29/2009			5495				24
4135011988		AUDIA, DAVID J.			17.9				188.53				8088.69			5/1/2009			8995				84
4135011994		MARYE, ALEX			12.9				114.18				5715.2			5/1/2009			6295				84
4135012006		MARTINEZ, SILVIA			12.9				112.63				5728.39			5/3/2009			6210				84
4135012008		GLEASON, DAVID M.			17.9				169.67				7279.33			5/3/2009			8095				84
4135012011		ALBERTS, SUZETTA E.			17.9				129.95				5695.86			5/4/2009			6200				84
4135012012		BLAKEMAN, DANIEL N.			17.9				111.08				4609.35			5/4/2009			5300				84
4135012016		CUNNINGHAM, SCOTT			12.9				146.83				7227.74			5/4/2009			8095.5				84
4135012017		HERNANDEZ, SANDRA			12.9				145.01				7630.93			5/4/2009			7995				84
4135012029		TANDERUP JR., SCOTT			17.9				85.53				3222.29			5/5/2009			3700				70
4135012054		WAHRER, ROBERT			12.9				114.27				5709.29			5/9/2009			6300				84
4135012060		CUBILLAS, TAMARA A.			17.9				150.8				6538.59			5/10/2009			7195				84
4135012066		HOLMES, S. STANLEY			11.9				191.66				9543.92			5/10/2009			10690				84
4135012075		KUSHWAHA, ABHISHEK			9.9				147.96				5523.47			5/13/2009			6980				60
4135012093		SWORD, ANGIE S.			11.9				126.63				6595.43			5/16/2009			7195				84
4135012098		GERESY, TARA L.			4.9				197.11				2121			5/16/2009			4497.5				24
4135012099		PRAYER, SHANNON H.			12.9				195.8				9596.9			5/16/2009			10795				84
4135012101		BRAWNER, JANET I.			12.9				146.82				7115.34			5/17/2009			8095				84
4135012104		SHEPHERD, JEFFREY			14.25				89.24				2649.51			5/17/2009			3495				53
4135012115		O’CONNOR, BRIAN P.			12.9				215.48				10511.38			5/18/2009			11880				84
4135012116		SCHAEFER, DIANE			11.9				158.31				7962.5			5/18/2009			8995				84
4135012145		ROMERO, MARCHELLE R.			12.9				114.18				5611.44			5/23/2009			6295				84
4135012146		RIBAR, RICHARD			12.9				155.08				7601.07			5/23/2009			8550				84
4135012148		SALAZAR, BLANCA A.			17.9				244.62				12856.91			5/23/2009			13624.75				120
4135012151		GONZALEZ, SANDRA			14.9				121.12				5642.21			5/23/2009			6295				84
4135012152		CARTER, RANDY O.			17.9				230.13				9972.32			5/24/2009			10980				84
4135012154		MONTANEZ, FELICIA A.			11.9				189.98				9556.01			5/24/2009			10795				84
4135012158		KHOR, ING WEI			11.9				168.87				8408.97			5/24/2009			9595				84
4135012158		PACKARD, SCOTT LEIGH			12.9				199.15				9761.49			5/24/2009			10980				84
4135012159		COCCOLI, MICHELLE			12.9				146.91				7154.69			5/25/2009			8100				84
4135012168		SEKKAS, JOHN			12.9				202.01				9901.41			5/26/2009			11137.5				84
4135012172		SHIPLEY, ROBERT C.			12.9				199.15				9761.49			5/26/2009			10980				84
4135012179		WALDRIDGE, JAMES DOUGLAS			12.9				199.15				10321.12			5/27/2009			10980				84
4135012180		SHORT, HOWARD W.			12.9				122.43				6058.14			5/28/2009			6750				84
4135012182		AGUILAR, HECTOR M.			16.9				132.05				6480			5/28/2009			6480				84
4135012184		DUDLEY, SANDRA			11.9				221.68				11149.43			5/29/2009			12595				84
4135012191		WUOLLET, KENNETH W.			17.9				284.31				15092.34			5/30/2009			15835.19				120
4135012194		CAUZ, STEVE			12.9				114.18				5920			5/30/2009			6295				84
4135012197		BINFORD, TANYA K.			13.9				282.5				13497.6			5/31/2009			15119.4				84
4135012214		COMEAUX, JOEY LOUIS			11.9				142.47				7166.01			6/3/2009			8095				84
4135012222		SCHIPPERS, JEFF			4.9				198.45				5240.49			6/5/2009			7645				42
4135012227		KARR, JOHN F.			12.9				146.1				7229.41			6/6/2009			8055				84
4135012231		MARTINEZ, SUZETTE T.			9.9				141.24				7645			6/7/2009			7645				72
4135012249		PICKARD, JOHN J.			17.9				157.61				8318.08			6/9/2009			8778.41				120
4135012250		REEDY, DENNIS			12.9				163.15				7996.69			6/9/2009			8995				84
4135012254		SIBISAN-WUDYKA, RODICA			17.9				230.13				9955.44			6/10/2009			10980				84
4135012263		MILLER, JEFFREY A.			17.9				131.94				5707.54			6/11/2009			6295				84
4135012271		MONTES, PHILLIP			4.9				175.31				1881.85			6/12/2009			4000				24
4135012276		MILKS, PHILLIP A.			12.5				235.88				11760.43			6/13/2009			13162.13				84
4135012284		FIFE, JODY K.			12.9				163.15				7891.79			6/14/2009			8995				84
4135012285		MASSEY, KEVIN J.			11.9				158.31				8332.48			6/14/2009			8995				84
4135012288		REAM, TANYA S.			11.9				221.66				11060.7			6/14/2009			12595				84
4135012289		AUERBACH, ROBERT J.			12.9				163.15				8073.06			6/14/2009			8995				84
4135012293		ESTRADA, ERIC			17.9				133.58				2482.99			6/15/2009			3700				36
4135012299		MANNING, GREGORY D.			17.9				115.95				4927.88			6/16/2009			5532.35				84
4135012301		MADORE SR., WILLIAM L.			17.9				171.87				7494.81			6/16/2009			8200				84
4135012305		HSIEH, DANIEL			17.9				135.82				5922.73			6/17/2009			6480				84
4135012312		YATES, WILLIAM E.			12.9				163.15				8119.37			6/19/2009			8995				84
4135012317		RICHARD, CHERYL L.			11.9				186.55				9653.22			6/20/2009			10600				84
4135012319		MCGRUDER, WILLIAM E.			7.99				219.55				6660.34			6/20/2009			8995				48
4135012320		LAGUNA, JOSE G.			11.9				126.63				6494.2			6/20/2009			7195				84
4135012323		SQUIRE, WILLIAM DAVID			11.9				126.63				6431.94			6/20/2009			7195				84
4135012327		JARDINE, KIMBERLEY			12.9				199.15				9693.68			6/21/2009			10980				84
4135012328		KELLEY, WILBUR			0				394.44				1987.28			6/21/2009			7100				18
4135012331		JOHNSON, MICHAEL W.			11.9				189.98				9743.41			6/21/2009			10795				84
4135012332		SHULTZ, BRIAN J.			11.9				193.24				9048.11			6/21/2009			10980				84
4135012340		CHOMOKOS, EPAMINONDA			0				308.33				0			6/22/2009			3700				12
4135012344		NEWMAN, CLAUDE			17.9				124.71				5290.9			6/23/2009			5950				84
4135012346		SHERRILL, ROY L.			12.9				146.83				7265.81			6/23/2009			8095.5				84
4135012356		BYRUM, JEAN C.			17.9				159.61				7802.85			6/24/2009			8890				120
4135012358		SOTO, DEBORAH L.			11.9				158.31				7936.89			6/25/2009			8995				84
4135012364		WATKINS, STEPHEN B.			11.9				153.91				7955.96			6/27/2009			8745				84
4135012365		FONT, ROSEMARIE			4.99				266.97				8679.08			6/27/2009			11595				48
4135012369		LETTIERE, SARAH ANN			14.9				190.39				8948.62			6/28/2009			9895				84
4135012371		MASON, ERIN			11.9				102.87				5131.8			6/28/2009			5845				84
4135012383		CROSS, SHERI			17.9				169.67				7398.83			7/2/2009			8095				84
4135012385		RIVAS, VALERIE			17.9				131.94				5974.31			7/2/2009			6295				84
4135012392		INOUE, MISUZU			17.9				131.94				5753.64			7/4/2009			6295				84
4135012396		LEININGER, JERRY J.			4.9				205.99				2211.16			7/4/2009			4700				24
4135012397		OLIVAR, JAIME H.			4.9				284.87				3058.14			7/5/2009			6500				24
4135012398		SPOTO, JAMES J.			14.9				155.75				7320.83			7/5/2009			8095				84
4135012400		SYAVONG, COMJON			0				374.79				0			7/6/2009			4497.5				12
4135012406		ISABELLA, MICHAEL ROSARIO			17.9				85.53				3268.23			7/7/2009			3700				70
4135012410		MCALISTER, NANCY			17.9				131.94				5974.27			7/7/2009			6295				84
4135012414		CORDOVA, NANCY			11.9				158.31				7991.27			7/8/2009			8995				84
4135012418		CASTLE, DELWYN P.			4.9				284.87				3313.84			7/8/2009			6500				24
4135012422		MAAT, AMAYEA			17.9				145.24				6343.72			7/9/2009			6929.84				84
4135012423		BLANKENSHIP, ALBERT E.			17.9				167.92				8825.03			7/9/2009			9352.96				120
4135012435		MCNINCH, EUGENE T.			6.9				250.4				14563.06			7/11/2009			16645				84
4135012447		THOMPSON, ROBERT E.			17.9				150.8				6576.3			7/11/2009			7195				84
4135012456		COOK, JOHN J.			17.9				131.94				5887.97			7/14/2009			6295				84
4135012457		RAY, ROXANNE N.			12.9				152.9				7636.82			7/14/2009			8430				84
4135012460		ALLER, MICHAEL			16.9				91.7				4132.45			7/14/2009			4500				84
4135012466		TURNER, ROBERT L.			4.9				195.03				2110.47			7/15/2009			4450				24
4135012486		SUTTON, JAMES J.			7.9				158.29				6496.21			7/19/2009			7825				60
4135012496		GAYTAN, RICARDO TRONCOSO			17.9				120.73				5207.03			7/21/2009			5760				84
4135012498		RAKES, RICKY A.			11.9				196.41				10073.04			7/21/2009			11160				84
4135012502		CHAMPAGNE, ROBERT P.			11.9				205.82				10556.01			7/26/2009			11695				84
4135012506		HAMMES, DEAN A.			12.9				154.99				7698.37			7/26/2009			8545				84
4135012512		KOSCHORKE, GABRIELE-MONIKA			17.9				131.94				5887.97			7/26/2009			6295				84

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER		NAME		INTEREST RATE				PAYMENT AMOUNT				CURRENT BALANCE			CONTRACT DATE			ORIGINAL LOAN AMOUNT				ORIGINAL TERM
4135012565		MYERS, RENE			12.9				145.29				7322.78			7/25/2009			8010				84
4135012568		VANDER VEEN, LISA			17.9				131.94				4885.28			7/26/2009			6295				84
4135012571		BURNS, PATRICE			12.9				114.18				5702.62			7/26/2009			6295				84
4135012574		MAYOR, SARAH			12.9				206.68				10192.84			7/26/2009			11395				84
4135012581		LA CHAPPA, EDWARD P.			12.9				146.82				7297.68			7/27/2009			8095				84
4135012584		FORDE, ROBIE			4.9				284.65				3326.86			7/27/2009			6495				24
4135012606		BRICKEY, WILLIAM W.			11.9				166.23				8540.2			8/1/2009			9445				84
4135012607		NEFF, OLIVIA			17.9				235.79				10394.96			8/1/2009			11250				84
4135012608		ACHONG, ROBERT F.			17.9				103.33				3238.09			8/1/2009			4930				84
4135012612		FRULLANI, ALFIO J.			12.9				163.15				8148.62			8/3/2009			8995				84
4135012616		MICHALUK, CHRISTOPHER			4.9				241.05				2817.1			8/3/2009			5500				24
4135012617		SANTILLAN, ANNA MARIA			0				372.92				975.08			8/3/2009			4475				12
4135012621		PHAR, THOMAS E.			17.9				296.58				15877.13			8/4/2009			16518.7				120
4135012634		ROMERO, ANTONIO S.			12.9				154.99				7740.93			8/7/2009			8545				84
4135012641		CAREY, PATRICK T.			11.9				205.82				10556.01			8/8/2009			11695				84
4135012645		WEIK, MICHAEL J.			12.9				204.05				9606.24			8/9/2009			11250				84
4135012647		LESLIE, TODD R.			12.9				195.8				10387.54			8/9/2009			10795				84
4135012650		VERDUGO, ERMINIA A.			0				666.67				1333.3			8/10/2009			8000				12
4135012661		MOORE, PHILIP F.			12.9				204.05				10268.25			8/12/2009			11250				84
4135012663		HENDERSON M.D., W. RAY			12.9				179.56				9900			8/12/2009			9900				84
4135012666		GILMORE, BERTIE M.			0				725				620			8/13/2009			8700				12
4135012667		GEISSEL, RAYMOND T.			0				475				475			8/13/2009			5700				12
4135012670		ALVES, KYRIN J.			0				405.83				420.87			8/13/2009			4870				12
4135012671		FOTHERINGHAM, MIKE			11.9				158.31				8140.69			8/13/2009			8995				84
4135012677		RAMIREZ, PATRICIA A.			15.5				159.27				9325.66			8/15/2009			9687.62				120
4135012682		VICNAIRE, GLENDON C.			0				291.67				276.63			8/16/2009			3500				12
4135012684		WEST, CASSANDRA			12.9				112.63				5677.34			8/16/2009			6210				84
4135012688		BRONIAK, KATHLEEN			17.9				163.23				7230.05			8/17/2009			7788.11				84
4135012689		VAN NOY, RICHARD J.			12.9				154.99				7877.65			8/17/2009			8545				84
4135012690		MOORE, ELSIE			11.9				221.66				7683.9			8/17/2009			12595				84
4135012693		JAQUE-ANTON, DONNALYN			0				541.25				541.25			8/18/2009			6495				12
4135012696		SAIDA, SHIGEMASA			0				687.5				687.5			8/19/2009			8250				12
4135012703		ARVOLD, BARBARA M.			0				415				370			8/20/2009			4980				12
4135012710		SHORT, LISA			4.9				256.24				10101.69			8/22/2009			12395				54
4135012712		WILLARD, WESLEY R.			12.9				152.99				7711.44			8/23/2009			8435				84
4135012719		TORELL, JANE I.			0				308.33				308.37			8/24/2009			3700				12
4135012721		PIERRON, FRANCIS L.			0				374.58				374.62			8/24/2009			4495				12
4135012722		BARKER, CHERENE			12.9				195.8				9868.94			8/24/2009			10795				84
4135012727		RITCHIE, CAMILLE			16.9				250.56				13710.05			8/25/2009			14469.69				120
4135012728		SMITH, DAVE			0				508.33				508.37			8/25/2009			6100				12
4135012731		LYNN, MARILYNN ELIZABETH			4.9				284.65				3596.83			8/25/2009			6495				24
4135012733		SAUTER, RENEE			14.9				164.41				7987.74			8/26/2009			8545				84
4135012735		AGUILERA, RICK			17.9				85.53				3340.18			8/27/2009			3700				70
4135012738		CONCORDIA, MARA			17.9				85.3				3777.48			8/27/2009			4070				84
4135012742		KAHLER, MABEL			12.9				159.65				3483.55			8/28/2009			4745				36
4135012744		RAMIREZ, RAYMUNDO			14.9				188.75				8957.96			8/29/2009			9810				84
4135012745		MILLER, LONNY D.			0				333.33				333.37			8/29/2009			4000				12
4135012747		BEELER, MARIAN B.			0				541.25				541.25			8/30/2009			6495				12
4135012751		PELLETIER, KEVIN			12.9				154.99				7811.95			8/30/2009			8545				84
4135012757		COCHRAN, RICKY L.			0				374.58				374.62			8/31/2009			4495				12
4135012759		CHOY, CLARICE W.			4.9				287.61				3510.65			8/31/2009			6562.5				24
4135012760		HESS, DENNIS C.			0				375				375			8/31/2009			4500				12
4135012767		ROTHERMAL, ERIC			11.9				213.74				11066.19			9/2/2009			12145				84
4135012776		TOWNE, TANJA			0				291.25				195			9/4/2009			3495				12
4135012777		FRIEDLANDER, JUDITH M.			4.9				193.06				2454.58			9/4/2009			4405				24
4135012783		MCGAHEE, JAMES D.			11.9				205.82				10655.53			9/5/2009			11695				84
4135012786		STEPHENSON, FRANK			16.9				128.33				5686.18			9/5/2009			6297.35				84
4135012801		WEICHMANN, BEVERLY K.			17.9				131.94				4489.56			9/6/2009			6295				84
4135012804		RIAHI, ARDESHIR			12.9				154.99				8088.53			9/6/2009			8545				84
4135012805		MILLER, DENNIS J.			11.9				205.82				10651.51			9/7/2009			11695				84
4135012806		VANDEPUTTE, GREGORY C.			17.9				131.94				5843.85			9/7/2009			6295				84
4135012807		BRITO, RICARDO V.V.			0				308.33				293.37			9/7/2009			3700				12
4135012814		TJIA, SOEN HIAN			0				479.17				479.13			9/7/2009			5750				12
4135012820		HENDERSON, JERRY E.			17.9				131.94				5901.21			9/8/2009			6295				84
4135012822		TREMELLING, ROBERT M.			0				308.33				308.37			9/9/2009			3700				12
4135012823		MYERS, WILLIAM R.			17.9				128.7				5742.78			9/9/2009			6140.28				84
4135012826		MATHIS, WALTER			17.9				156.2				8493.83			9/11/2009			8700				120
4135012828		DURAZO, RONALD KEITH			11.9				155.14				8747.27			9/12/2009			8815				84
4135012834		HANSON, DENNIS			17.9				131.94				5970.9			9/12/2009			6295				84
4135012836		SMITH, ELAINE S.			17.9				235.79				10522.67			9/13/2009			11250				84
4135012844		RUSS, DONALD S.			0				372.92				745.8			9/14/2009			4475				12
4135012845		GRIMM, STEPHEN M.			0				374.58				749.2			9/14/2009			4495				12
4135012847		LINDGREN, SUSAN L.			0				725				1450			9/14/2009			8700				12
4135012850		WADE, ROBERT J.			11.9				258.22				17244.46			9/15/2009			18070.89				120
4135012851		MARRERO, RAYMOND			0				512.5				512.5			9/16/2009			6150				12
4135012854		SARGENT, TINA M.			17.9				135.82				5757.57			9/16/2009			6480				84
4135012855		MARTINEZ, OLIVER			12.9				200.78				7945.92			9/16/2009			11070				84
4135012856		KNIGHT, THOMAS R.			4.9				166.98				2267.58			9/16/2009			3810				24
4135012857		PAULHUS, JOHN J.			0				683.33				1366.7			9/17/2009			8200				12
4135012862		LEUNG, LEON F.			0				374.58				749.2			9/18/2009			4495				12
4135012864		GRANSON, JOE			17.9				220.92				11620.98			9/18/2009			12304.81				120
4135012865		DYLINSKI, STEPHEN T.			11.9				201.86				10451.15			9/18/2009			11470				84
4135012869		MARX, STEVEN W.			4.9				162.16				2180.21			9/19/2009			3700				24
4135012875		FERRE, DAUN S.			0				401.67				401.63			9/19/2009			4820				12
4135012878		ELLIS II, TIMOTHY DANIEL			13.9				195.38				11801.3			9/20/2009			12632.19				120
4135012879		FIELDS, PAUL V.			0				441.67				883.3			9/20/2009			5300				12
4135012882		BRACEY, JASON S.			17.9				143.15				6383.09			9/20/2009			6830				84
4135012885		SIROTNAK, WILLIAM P.			0				300				600			9/21/2009			3600				12
4135012886		PHELPS, KENNETH D.			12.9				146.82				7467.19			9/21/2009			8095				84
4135012888		WHEELER, M. JANE			0				308.33				616.7			9/21/2009			3700				12
4135012895		RISDON, DENNIS L.			0				308.33				616.7			9/22/2009			3700				12
4135012898		MALONE, WANDA			17.9				329.08				17732.94			9/23/2009			18328.66				120
4135012899		WINEY, ROGER C.			0				375				750			9/23/2009			4500				12
4135012901		BENNETT, BETTY J.			0				516.67				1033.3			9/23/2009			6200				12
4135012902		GRAJEDA, JENNIFER			11.9				158.31				8084.22			9/23/2009			8995				84
4135012906		CLARK, LINDA V.			4.9				250.69				3389.32			9/24/2009			5720				24
4135012909		GAGGIOLI, FRED J.			0				258.33				516.7			9/26/2009			3100				12
4135012911		LITT, GARY			11.9				205.82				10755.33			9/26/2009			11695				84
4135012914		HOYE, TERRY M.			0				341.67				683.3			9/26/2009			4100				12
4135012916		SIMPSON, RAYMOND			0				291.25				582.5			9/26/2009			3495				12
4135012918		XXXXXXX, XXXX X.			17.9				167.98				7622.56			9/26/2009			8014.5				84
4135012919		XXXXXX, A			12.9				104.2				5745			9/27/2009			5745				84
0000000000		XXXXX, XXXXX X.			0				372.92				745.8			9/27/2009			4475				12
4135012923		XXXXXXXXXX, XXX XXX			17.9				222.67				12326.19			9/28/2009			12402.11				120
4135012927		XXXXXX, XXXXX X.			0				291.42				582.8			9/29/2009			3497				12

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER		NAME		INTEREST RATE				PAYMENT AMOUNT				CURRENT BALANCE				CONTRACT DATE		ORIGINAL LOAN AMOUNT				ORIGINAL TERM
0000000000		XXXXXXXX, XXXXXX			0				582.92				1165.8			9/29/2009			6995				12
4135012933		XXXXXXXXX, XXXXX X.			11.9				152.65				8135.29			9/30/2009			8685				84
4135012934		XXXXXX, XXXXX			0				375				750			9/30/2009			4500				12
4135012938		XXXXXX, XXXXXXX X.			0				520.83				1041.7			10/1/2009			6250				12
4135012940		XXXXXXX, XXXXXX X.			8.5				249.72				14261.8			10/1/2009			15768.94				84
4135012941		XXXXXX, XXXXXXXXX X.			12.9				146.82				7662.78			10/1/2009			8095				84
4135012942		XXXXXXX, XXXXXXX X.			0				150				300			10/2/2009			1800				12
4135012943		XXXXXXXX, XXXXXXXX			0				335.42				670.8			10/2/2009			4025				12
0000000000		LIST, XXXXXX X.			17.9				131.94				6218.35			10/2/2009			6295				84
4135012948		XXXXX, XXXXXXX X.			4.9				219.13				2975.91			10/3/2009			5000				24
4135012952		XXXXXXXX, XXXXXXX			12.9				146.1				8055			10/3/2009			8055				84
4135012955		XXXXXX, XXXXXX X.			12.9				146.1				7624.74			10/4/2009			8055				84
4135012956		XXXXXXX, XXX X.			0				479.17				958.3			10/4/2009			5750				12
4135012958		XXXXX, XXXXXXX X.			0				258.33				516.7			10/5/2009			3100				12
4135012959		XXXXX, XXXXXX X.			12.9				195.8				9957.7			10/5/2009			10795				84
4135012960		XXXXXX, XXXXXXXX			0				375				600			10/5/2009			4500				12
4135012964		VAN EGDON, XXXXXXX X.			17.9				85.53				3168.8			10/5/2009			3700				70
4135012966		XXXXX, XXXXXX X.			0				258.33				516.7			10/6/2009			3100				12
4135012970		XXXXXX, XXXXXXXX X.			0				350				1810			10/6/2009			4200				12
4135012971		XXXXXX, XXXXXXXXX X.			12.9				204.05				10737.7			10/6/2009			11250				84
0000000000		XXXX, XXXXXXX X.			0				350				1050			10/7/2009			4200				12
4135012980		XXXXXX, XXXXXXX			17.9				169.67				7627.48			10/8/2009			8095				84
4135012986		XXXXXXXX, XXXXXXXX			0				250				500			10/9/2009			3000				12
0000000000		XXXXXX, XXXXXXX			11.9				152.85				8203.77			10/10/2009			8685				84
4135012994		XXXXXXX, XXXXXXX X.			4.9				254.19				3452.06			10/10/2009			5800				24
4135012995		XXXXXX, XXXXXXX			0				291.46				889.36			10/10/2009			3497.5				12
4135012996		XXXXXXX, XXXXXX			6.9				203.23				11411.34			10/10/2009			12745				78
4135013003		XXXX, XXXXXX X.			0				508.33				1525.03			10/12/2009			6100				12
0000000000		XXXXX, XXXXXX			0				500				1000			10/12/2009			6000				12
4135013008		TOPONAK, XXXXXXXX X.			0				500				1500			10/13/2009			6000				12
4135013010		XXXXXXX, XXXXXX X.			0				308.33				925.03			10/13/2009			3700				12
4135013014		XXXXXXXX, XXXXX X.			0				175				525			10/14/2009			2100				12
0000000000		XXXXXXXX, XXXXX X.			17.9				227.39				12312.12			10/14/2009			12664.84				120
4135013016		XXXXXX III, XXXXXX X.			17.9				91.38				4080.15			10/14/2009			4360				84
4135013020		XXXXX, XXXX X.			0				683.33				2050.03			10/15/2009			8200				12
0000000000		XXXXXX, XXXXXXX			4.9				206.86				3197.65			10/15/2009			4720				24
0000000000		WASH, XXXXXX XXXXX			11.9				158.31				8347.72			10/17/2009			8995				84
4135013035		XXXXXX, XXXXX X.			12.9				264.46				14348.18			10/17/2009			14580.49				84
4135013040		LA PRE, XXXXXXX X.			11.9				205.82				10853.52			10/18/2009			11695				84
4135013048		XXXXX, XXXX X.			0				516.67				1549.97			10/19/2009			5200				12
4135013054		XXXXXXXX, XXXXXXX X.			0				479.17				1437.47			10/20/2009			5750				12
4135013055		XXXXXX, XXXXXX X.			0				500				1500			10/20/2009			6000				12
4135013056		XXXXXX, XXXXXXXXX X.			0				341.67				440			10/21/2009			4100				12
0000000000		XXXX, XXXXXXX X.			12.9				186.63				9677.99			10/21/2009			10400				84
4135013060		XXXXXX, XXXXXXX			17.9				132.04				5828.27			10/21/2009			6300				84
4135013065		XXXXXXXX, XXXXX X.			4.9				284.76				4073.25			10/22/2009			6497.5				24
4135013067		XXXXXXX, XXXXXX X.			12.9				195.8				10045.52			10/22/2009			10795				84
4135013073		XXXXXXXX, XXXXXXX			17.9				109.2				4769.36			10/23/2009			5210				84
0000000000		XXXXXXX, XXXXXXX X.			0				416.25				1248.75			10/24/2009			4995				12
4135013075		XXXXXXXXXXX, XXXXXX X.			11.9				205.82				10853.52			10/24/2009			11695				84
4135013079		CHORD, XXXXX X.			4.9				350.61				5091.28			10/24/2009			8000				24
0000000000		XXXXX, XXXXX			17.9				131.94				6016.87			10/24/2009			6295				84
4135013084		XXXXX, XXXX			12.9				146.82				7789.48			10/24/2009			8095				84
4135013086		XXXXXXX, XXXXXX X.			12.9				154.99				8352.52			10/24/2009			8545				84
4135013089		XXXXXX, XXXX			17.9				131.94				6072.25			10/25/2009			6295				84
4135013091		XXXXXX, XXXX X.			17.9				131.94				4901.37			10/25/2009			6295				84
4135013092		XXXXXXXX, XXXXX X.			0				291.25				873.75			10/25/2009			3495				12
4135013096		XXXXXXX, XXXXXX X.			0				433.33				1300.03			10/26/2009			5200				12
4135013099		XXXXXXX, XXXXXX X.			0				374.58				1123.78			10/26/2009			4495				12
4135013101		XXXXX, XXXXXX X.			0				457.92				1373.72			10/26/2009			5495				12
4135013103		XXXXXXXXXX, XXXXXXXX			12.9				153.17				7858.71			10/27/2009			8445				84
0000000000		XXXXXXX, XXXXX X.			0				383.33				1150.03			10/27/2009			4600				12
4135013105		XXXXXXXX, XXXXXX X.			0				374.75				1499			10/27/2009			4497				12
4135013107		XXXXX, XXXXX X.			0				306.33				1180.02			10/27/2009			3700				12
0000000000		XXXXXX JR., XXXXXXX XXXXXX			4.9				184.07				2672.89			10/27/2009			4200				24
4135013110		XXXXX, XXXXX X.			0				306.33				925.03			10/28/2009			3700				12
4135013111		XXXXXX, XXXX			0				520.83				1547.53			10/28/2009			6250				12
4135013114		XXXXXX, XXXXX X.			4.9				271.73				3945.67			10/28/2009			6200				24
4135013115		XXXXXXXXX, XXXXXXX X.			0				306.33				925.03			10/28/2009			3700				12
4135013119		XXXXX, XXXXXX X.			12.9				224.09				11934.5			10/29/2009			12355				84
0000000000		XXXXXX, XXXXXXXXX			0				333.33				1015.03			10/29/2009			4000				12
4135013123		XXXXXX, XXXXX			17.9				245.06				13018.33			10/30/2009			13649.24				120
4135013125		PERS, XXXXXXX X.			0				551.67				2206.64			10/31/2009			6620				12
4135013126		XXXXXXXX, XXXX			12.9				146.82				7533.03			10/31/2009			8095				84
4135013129		XXXXX, XXXX X.			12.9				154.99				7528.77			11/1/2009			8545				84
4135013130		XXXXXXX, XXXX X.			17.9				131.94				5974.27			11/1/2009			6295				84
4135013131		DEZOTTI, XXXX X.			17.9				171.87				7726.41			11/2/2009			8200				84
4135013137		XXXXXXX, XXXXX X.			0				154.17				462.47			11/3/2009			1850				12
4135013144		XXXXXX, XXXXX X.			12.9				181.29				9145.61			11/4/2009			9995				84
4135013145		XXXXXXXX JR., XXXXXX X.			0				683.33				2050.03			11/4/2009			8200				12
4135013146		XXXX, A. JEFFREY			0				383.33				1150.03			11/4/2009			4600				12
4135013148		PHILIPS, XXXXXX X.			0				145.83				437.53			11/4/2009			1750				12
4135013149		XXXXXXX, XXXXXX X.			0				405.83				1217.53			11/4/2009			4870				12
0000000000		XXXXX, XXXXX X.			8.9				122.37				7020.05			11/5/2009			7630				84
0000000000		XXXXXX, XXXX X.			12.9				179.56				9292.38			11/6/2009			9900				84
4135013158		XXXXXXX, XXXXXXX X.			8.5				199.46				10437.99			11/6/2009			12595				84
4135013174		COKE, XXXX X.			4.9				284.87				4136.66			11/9/2009			6500				24
4135013180		XXXX, XXXXXX X.			11.9				205.82				10853.52			11/9/2009			11695				84
4135013185		XXXXXX, XXXXXXXX X.			17.9				163.43				7347.16			11/10/2009			7797.47				84
4135013186		XXXXXX, XXXXX X.			0				516.67				1549.97			11/11/2009			5200				12
4135013189		XXXXXXXX, XXXXXXXXX			17.9				141.09				4674.65			11/11/2009			5568.04				60
4135013190		XXXXXXXXXXX, XXXX			12.9				195.8				10187.54			11/12/2009			10795				84
4135013193		XXXXXXXX, XXX X.			17.9				182.22				8118.64			11/12/2009			8693.96				84
0000000000		XXXXX, XXXXXX			11.9				189.98				10097.61			11/14/2009			10795				84
0000000000		XXXXXXXXXX, DIOS M.			12.9				153.44				8000.44			11/16/2009			8460				84
4135013213		XXXXXXXX, XXXX X.			0				457.92				1831.64			11/17/2009			5495				12
4135013216		XXXXXX, XXXXXX			0				372.92				1491.64			11/18/2009			4475				12
4135013218		XXXXXX, XXXXX			12.9				155.08				8023.35			11/19/2009			8550				84
4135013220		VRIJENHOEK, XXXXX X.			12.9				204.05				10559.6			11/20/2009			11250				84
0000000000		XXXXX, XXXX X.			17.9				102.7				4310.8			11/21/2009			4900				84
4135013225		XXXXXXXX, XXXX			12.9				154.99				8020.49			11/21/2009			8545				84
4135013226		BAFFLER, XXXXXX X.			4.9				153.39				2371.14			11/21/2009			3500				24
4135013229		XXXXXXX, XXXXXXXXX			0				479.17				1916.64			11/21/2009			5750				12
4135013232		XXXXXXXX, XXXX X.			17.9				207.39				9205.71			11/22/2009			9895				84
4135013233		XXXXXXX, XXXX X.			12.9				154.99				8020.41			11/22/2009			8545				84

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER			NAME		INTEREST RATE				PAYMENT AMOUNT				CURRENT BALANCE				CONTRACT DATE				ORIGINAL LOAN AMOUNT				ORIGINAL TERM
0000000000			XXXXXXX, XXXXX X.			17.9				169.77				7623.4				11/22/2009				8100				84
4135013238			XXXXXXXX, XXXXXX X.			4.9				175.31				3213.7				11/22/2009				4000				24
4135013247			XXXXXX, XXXX			17.9				207.39				9390.92				11/23/2009				9895				84
4135013248			XXXXX, XXXXX X.			17.9				131.94				5974.27				11/23/2009				6295				84
4135013250			MAINO, XXXX X.			12.9				154.99				7790.54				11/23/2009				8545				84
4135013255			XXXXX, XXXXXX X.			0				591.67				2381.64				11/24/2009				7100				12
4135013274			XXXXX, XXXXXXX XXXXX			17.9				193.65				10489.8				11/28/2009				10786.01				120
4135013275			XXXXXXX, XXXXX X.			0				374.58				1498.36				11/28/2009				4495				12
4135013278			XXXX, XXXXXX X.			0				562.5				2250				11/28/2009				6750				12
4135013282			XXXXXX, XXXXXXX X.			0				308.33				1233.36				11/29/2009				3700				12
4135013284			XXXXXXXX, XXXXXX			0				291.67				1166.64				11/29/2009				3500				12
4135013286			XXXXXXXX, XXXXX X.			0				341.67				1381.64				11/30/2009				4100				12
0000000000			COUNCIL, BARTON H.			12.9				154.99				8020.48				12/1/2009				8545				84
4135013288			XXXXXX, XXXXX			0				512.5				2050				12/1/2009				6150				12
4135013292			XXXXXXX, XXXXXX			12.9				154.99				7669.95				12/3/2009				8545				84
4135013293			XXXXXXXX, XXXXXXX X.			0				000				0000				12/3/2009				8700				12
4135013296			XXXXXX, XXXXXX			17.9				169.67				7682.56				12/4/2009				8095				84
4135013303			XXXXXXXXX, XXXXXX X.			0				306.33				1233.36				12/5/2009				3700				12
4135013304			VON, XXXXX X.			0				333.33				1581.69				12/5/2009				4000				12
4135013305			XXXXX, XXXXXX			12.9				112.63				6070.88				12/6/2009				6210				84
4135013308			FRENCH, XXXXXX X.			12.9				154.99				8303.67				12/7/2009				8545				84
4135013311			XXXXXXXX, XXXXXXX X.			0				308.33				1233.36				12/7/2009				3700				12
4135013312			XXXXXXXX, XXXXXXXX			12.9				146.91				7602.89				12/7/2009				8100				84
0000000000			XXXXX, X.X.			0				520.83				2619.19				12/7/2009				6250				12
0000000000			DOO, SHNG TAK			0				466.67				1856.64				12/8/2009				5600				12
0000000000			XXXXXXX, XXXXXX X.			0				398.33				1593.36				12/9/2009				4780				12
4135013324			XXXXX, XXXXX X.			0.				308.33				1233.36				12/10/2009				3700				12
0000000000			XXXXXX, XXXXXXXXX			17.9				131.94				5295				12/10/2009				6295				84
4135013328			XXXXXX, XXXXX			11.9				202.39				10862.83				12/11/2009				11500				84
4135013332			XXXXXX, XXX X.			12.9				154.99				8104.19				12/13/2009				8545				84
0000000000			XXXXXX, XXXXXXX			4.9				162.16				2657.9				12/13/2009				3700				24
4135013334			XXXXXX, XXXX XXXXXXX			0				364.17				1820.81				12/13/2009				4370				12
4135013338			XXXXX, XXXXXXX X.			17.9				171.8				9389.75				12/13/2009				9568.82				120
4135013339			XXXXXXX, XXXXXX X.			12.9				114.18				6027.65				12/13/2009				6295				84
4135013340			XXXX, XXXXXXXX			17.9				169.67				7525.69				12/14/2009				8095				84
0000000000			XXXXX, XXXXX			0				375				1875				12/14/2009				4500				12
4135013343			XXXXXXX, XXXXXXX X.			17.9				241.04				13061.22				12/14/2009				13425.39				120
4135013346			LEBRA, XXXXXXXX X.			0				395.58				1977.94				12/14/2009				4747				12
4135013347			XXXXXXX, XXXXX X.			17.9				157.1				5710.74				12/15/2009				6200				60
4135013350			XXXXX, XXX X.			0				308.33				1233.36				12/15/2009				3700				12
4135013351			XXXXXXXX, XXXXX X.			4.9				284.87				4577.66				12/15/2009				6500				24
4135013352			XXXXXXXX, XXXX			0				499.75				2483.75				12/15/2009				5997				12
4135013354			XXXXX, XXX			0				308.33				1232.61				12/16/2009				3700				12
4135013360			XXXXXXXX, XXXXXX X.			12.9				154.99				7877.49				12/18/2009				8545				84
4135013362			XXXX, XXXXXX X.			17.9				131.94				6030.88				12/19/2009				6295				84
4135013364			XXXXX, XXXXX X.			0				291.25				1456.25				12/20/2009				3495				12
4135013366			XXXX, XXXXXX X.			12.9				154.99				8155.85				12/20/2009				8545				84
0000000000			SALIK, XXXXXX XXXXXX			17.9				205.3				9361.59				12/20/2009				9795				84
4135013369			XXXXX, XXXXXX X.			4.9				252				4130.58				12/20/2009				5750				24
4135013372			XXXXXXX, XXXX			0				516.67				2583.31				12/21/2009				6200				12
4135013373			XXXXX, XXXX X.			0				333.33				1682.02				12/21/2009				4000				12
4135013374			XXXXX, XXXXXX X.			0				516.67				2583.31				12/21/2009				6200				12
4135013375			XXXXXXX, XXXXXXX X.			0				372.92				1864.56				12/21/2009				4475				12
0000000000			XXXXX, XXXX			0				333.33				1666.69				12/21/2009				4000				12
4135013380			MUNNECKE XXXXXXX, XXXXX			0				395.42				1977.06				12/22/2009				4745				12
4135013381			XXXXXX, XXXXX X.			14.9				129.78				6605.18				12/22/2009				6745				84
4135013386			XXX, XXX SIN			0				516.67				1300				12/24/2009				6200				12
4135013387			LAND, XXXXXXX X.			12.9				145.28				8010				12/24/2009				8010				84
0000000000			XXXXXX, XXXXX			12.9				114.18				5958.71				12/27/2009				6295				84
4135013398			XXXXX, XXXXXXX			17.9				211.91				9470.63				12/28/2009				10110.66				84
4135013401			XXXXX, XXXXXX L			0				391.67				1958.31				12/28/2009				4700				12
4135013402			XXXXXXXXXX, XXXXX. J.			0				195.83				919.19				12/28/2009				2350				12
0000000000			XXXX, XXXXX X.			12.9				154.99				8088.53				12/29/2009				8545				84
4135013408			XXXX, XXXX XXXXX			4.9				238.86				3915.02				12/29/2009				5450				24
4135013409			XXXXXXXX, XXXXX X.			0				350				1750				12/29/2009				4200				12
4135013410			XXXXXX X., XXXXXXXXX			12.9				154.99				8088.53				12/29/2009				8545				84
4135013412			XXXXXXX, XXXXX X.			12.9				154.99				8008.18				12/29/2009				8545				84
4135013415			XXXXXX, XXXXXXX X.			17.9				177.75				9679.78				12/30/2009				9900				120
4135013416			AJ1TOMI, XXXXXX			0				683.33				3416.69				12/30/2009				8200				12
4135013418			XXXXXXX, XXXXXXXXX			0				350				1750				12/30/2009				4200				12
0000000000			XXXXXXX, XXXXXX X.			4.9				197.22				3232.61				12/30/2009				4500				24
0000000000			XXXXXXXX, XXX			0				725				2900				12/31/2009				8700				12
4135013423			XXXXX, XXXXX’ E.			17.9				161.11				7362.45				12/31/2009				7686.86				84
4135013426			XXXXXX, XXXXXXXX X.			0				350				1750				12/31/2009				4200				12
4135013431			XXXXX XXXXXXX, XXXX			0				350				1750				1/2/2010				4200				12
4135013432			XXXX, XXXXXXX X.			12.9				212.12				11070.32				1/2/2010				11695				84
4135013438			XXXXXXX, XXXXX			0				725				4350				1/4/2010				8700				12
4135013443			XXXXXXX, XXXXXX X.			17.9				182.5				9908.04				1/4/2010				10164.59				120
4135013444			XXXXXX, XXXXXX X.			0				741.67				2966.64				1/5/2010				8900				12
0000000000			XXXXXX, XXXXXX			0				312.5				1562.5				1/6/2010				3750				12
4135013450			XXXX, XXXXX XXX			17.9				88.69				2414.1				1/6/2010				3500				60
4135013455			XXXXXXX, XXXXXX X.			0				541.25				2706.25				1/7/2010				6495				12
4135013459			XXXXXX, XXXX X.			0				454.17				2270.81				1/9/2010				5450				12
4135013469			XXXXXXX, XXXX			17.9				131.94				5972.9				1/13/2010				6295				84
4135013476			XXXXX, XXXXXX			17.9				169.67				7788.24				1/16/2010				8095				84
4135013477			SAALI, XXXXX X.			17.9				125.76				5807.08				1/16/2010				6000				84
4135013479			XXX, XXXX			12.9				195.8				10281.71				1/16/2010				10795				84
4135013482			XXXXX, XXXX			0				433.33				2585.02				1/17/2010				5200				12
4135013484			FENDER, H. GARY			0				499.79				2998.76				1/17/2010				5997.5				12
4135013485			VAN TROJEN, XXXXX X.			0				154.17				924.98				1/18/2010				1850				12
4135013486			XXXXX, XXXXXXX X.			11.9				189.98				9967.24				1/18/2010				10795				84
4135013487			XXXXXX, XXX			0				458.33				2750.02				1/19/2010				5500				12
4135013490			CANNONS, XXXX L.			0				372.92				2237.48				1/19/2010				4475				12
4135013492			XXXXXX, XXXXXXX X.			0				425				2550				1/20/2010				5100				12
4135013494			XXXXXXX, XXXXXXXX X.			0				979.17				5874.98				1/21/2010				11750				12
0000000000			XXXXX, XXXXX			0				291.67				1749.98				1/25/2010				3500				12
4135013515			XXXX-XXXX, XXXXX X.			0				350				2100				1/26/2010				4200				12
4135013516			XXXXXXX, XXXXXX			0				291.25				1747.5				1/26/2010				3495				12
4135013521			XXXXXXX, XXXXXX X.			0				458.33				3208.35				1/27/2010				5500				12
4135013523			XXXX, XXXXXXXXX X.			11.9				189.98				10284.89				1/27/2010				10795				84
4135013526			XXXXXXX, XXXXXXX			0				500				3000				1/28/2010				6000				12
4135013528			XXXXXX, XXXXXX X.			0				308.33				1850.02				1/30/2010				3700				12
4135013531			XXXXXXX, XXX			12.9				155.08				8160.64				1/30/2010				8550				84
4135013534			XX, XXXX			12.9				195.8				9661.14				1/31/2010				10795				84
4135013535			XXXXXXXX, XXXXXXX X.			6.9				136.82				8594.55				1/31/2010				9095				84

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE SUBJECT TO ASSIGNMENT OF RELATED DEED OF
TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT NUMBER		NAME		INTEREST RATE				PAYMENT AMOUNT				CURRENT BALANCE				CONTRACT DATE				ORIGINAL LOAN AMOUNT				ORIGINAL TERM
4135013539		XXXXX, XXXXXXX X.			0				229.17				1374.98				2/1/2010				2750				12
4135013540		XXXXXX, XXXXXXX XXXX			12.9				195.8				10303.4				2/1/2010				10795				84
4135013541		XXXXXX, XXXXXXXXX X.			17.9				178.15				8180.09				2/1/2010				8500				84
4135013543		XXXXX, XXXXXX X.			0				370.83				2225.02				2/1/2010				4450				12
0000000000		XXXXXXX, XXXXXX X.			0				1037.5				6225				2/1/2010				12450				12
4135013549		XXXXXX, XXXXXX X.			12.9				186.09				9792.81				2/2/2010				10260				84
4135013550		XXXXXXX, XXXXX			0				350				2100				2/2/2010				4200				12
4135013551		XXXXXXX, XXXXX			17.9				166.24				9083.96				2/2/2010				9259.16				120
4135013552		LIGHT, XXXXX X.			12.9				194.25				10222.33				2/2/2010				10710				84
4135013555		XXXXXXX, XXXXXX X.			0				350				2085				2/2/2010				4200				12
4135013556		XXXXXXXXXX, XXXX			12.9				154.99				8353.54				2/2/2010				8545				84
4135013558		BLUE, XXXXXXX			17.9				85.53				2845.07				2/3/2010				3700				70
0000000000		XXXXXX, XXXXXX X.			0				425				2550				2/4/2010				5100				12
0000000000		XXXXX, XXXXXX			0				291.46				1748.74				2/5/2010				3497.5				12
4135013563		XXXXXXXX, XXXXX X.			11.9				189.98				10284.89				2/6/2010				10795				84
4135013569		XXXX, XXXXXX X.			0				725				4350				2/8/2010				8700				12
0000000000		XXXXXXX, XXXXX X.			12.9				195.8				8931.69				2/8/2010				10795				84
0000000000		XXXXXXXXXX, XXXXX X.			0				350				2830				2/11/2010				4200				12
4135013582		XXXXXXXX, XXXXX X.			0				500				2800				2/12/2010				6000				12
4135013583		VMARIE, JOY			17.9				312.66				17142.01				2/13/2010				17414.52				120
4135013588		XXXXXX, XXXXX X.			17.9				202.71				4542.52				2/14/2010				8000				60
4135013592		VIDISKY, XXXXX X.			4.9				271.16				3426.22				2/14/2010				6187				24
4135013593		XXXXXXXX, XXXXXXXX X.			12.9				212.12				11162.45				2/14/2010				11695				84
4135013609		XXXXXXX, XXXXXXX			17.9				387.75				21044				2/18/2010				21596.38				120
4135013612		XXXX, XXXXXX X.			11.9				237.5				12966.22				2/19/2010				13495				84
4135013614		XXXX, XXXX X.			12.9				154.99				8207.45				2/20/2010				8545				84
4135013615		XXXXXXX, XXXXXX			0				433.33				3033.35				2/20/2010				5200				12
4135013620		XXXXXXX, XXXX			0				499.58				5995				2/21/2010				5995				12
4135013622		XXXXXX, XXXXXXX X.			12.9				186.09				9872.77				2/21/2010				10260				84
4135013630		XXXXX, XXXXX			0				458.13				3206.85				2/22/2010				5497.5				12
4135013632		XXXX, XXXXXXXX X.			12.9				195.8				10387.54				2/22/2010				10795				84
4135013634		XXXXXXXX, XXX X.			0				370.83				2966.68				2/23/2010				4450				12
0000000000		XXXXXXXXXXXXXX, XXXXXX			0				475				3325				2/23/2010				5700				12
0000000000		XXXXX, XXXXX X.			12.9				154.99				8222.44				2/23/2010				8545				84
4135013639		XXXXXXX, XXXXXX			17.9				85.53				3543.69				2/24/2010				3700				70
4135013641		XXXXXXXX, XXXXXXX X.			0				433.33				2988.35				2/25/2010				5200				12
0000000000		XXXXXXXX, XXXXXXX X.			4.9				175.31				3198.58				2/28/2010				4000				24
4135013653		XXXXXXX, XXXXX X.			0				500				3000				2/28/2010				6000				12
4135013654		XXXXXXXXXX, XXXXXX			0				499.75				3498.25				2/28/2010				5997				12
4135013658		XXXX, XXXXXX X.			12.9				154.99				8222.45				3/1/2010				8545				84
4135013662		XXXX, XXXXXXX X.			4.9				262.83				4795.49				3/1/2010				5997				24
4135013672		XXXXXX, XXXXXX X.			0				683.33				4783.35				3/3/2010				8200				12
4135013673		XXXXXXX, XXXXXXX X.			12.9				256.69				13727.48				3/3/2010				14152.5				84
4135013675		XXXXXX, XXXXX X.			17.9				131.94				6099.02				3/4/2010				6295				84
4135013676		XXXXXX, XXXXX			0				499.58				3497.1				3/4/2010				5995				12
4135013679		XXX XXXX, XXXXX X.			17.9				152.49				8482.34				3/4/2010				8493.15				120
4135013680		XXXXXXXX, XXXXX			4.9				316.65				5428.72				3/5/2010				7224.97				24
4135013689		XXXXXX, XXXXXXX			0				374.79				2623.55				3/8/2010				4497.5				12
4135013690		XXXXXXX, XXXXXX			0				341.67				2391.65				3/8/2010				4100				12
4135013692		XXXXXXX, XXXXXXX X.			12.9				186.09				9951.88				3/8/2010				10260				84
4135013693		XXXXXXX, XXXX XXXXXXX			12.9				195.8				10132.11				3/9/2010				10795				84
0000000000		XXXXXXX, XXXXXXX X.			12.9				154.99				8222.45				3/9/2010				8545				84
4135013695		XXXXX, XXXXXXX X.			17.9				139.11				6430.78				3/9/2010				6637.39				84
4135013699		XXXXXXXXX, XXXXXXX			12.9				186.09				9872.77				3/11/2010				10260				84
4135013704		XXXXXX, XXXX X.			0				666.67				4711.65				3/13/2010				8000				12
4135013706		XXXXXXXX, XXXX X.			17.9				167.67				7792.74				3/13/2010				8000				84
0000000000		XXXXXXXX, XXXXXXXXXX			12.9				154.99				6643.16				3/14/2010				8545				84
4135013709		XX, XXXXX X.			0				416.67				3333.32				3/14/2010				5000				12
0000000000		XXXXX, XXXXXXXX			17.9				131.94				5139.39				3/15/2010				6295				84
4135013718		XXXXXX, XXXXXX X.			0				308.33				2466.68				3/15/2010				3700				12
4135013719		XXXXXXX, XXXXXX X.			0				250				2000				3/15/2010				3000				12
4135013721		XXXXX, XXXXXXX			14.9				190.39				9619.8				3/15/2010				9895				84
4135013722		XXXXXXXXXXX, XXXXX X.			0				499.58				3497.1				3/15/2010				5995				12
4135013723		XXXXX, XXXX X.			4.9				262.74				4793.89				3/16/2010				5995				24
4135013731		XXXXXX, XXXXX X.			0				341.67				2733.32				3/19/2010				4100				12
0000000000		XXXXXXXXXXX, XXXXX			0				499.58				3996.68				3/20/2010				5995				12
4135013741		XXXXXX, XXXXX X.			0				479.17				3833.32				3/20/2010				5750				12
4135013742		XXXXXXX, XXXXX X.			12.9				187.36				10034.93				3/20/2010				10330				84
4135013743		XXXXXXXX, XXXXXXXX			12.9				195.8				10387.54				3/20/2010				10795				84
0000000000		XXXX, XXXXXX			12.9				195.8				10711.04				3/20/2010				10795				84
4135013750		XXXXXXXXXXX, XXXXXX			17.9				265.96				14768.38				3/21/2010				14813.38				120
4135013757		JUDAH, XXXXX X.			12.9				186.09				9951.88				3/22/2010				10260				84
4135013758		XXXXXX, XXXX			0				395.63				3164.98				3/22/2010				4747,5				12
0000000000		XXXXXXX, XXXXXXXX X.			12.9				195.8				10387.54				3/22/2010				10795				84
4135013761		XXXX, XXXXXX			17.9				108.99				5071.44				3/22/2010				5200				84
4135013762		XXXXXXXXX, XXXX			12.9				195.8				10470.78				3/22/2010				10795				84
4135013766		XXXXXXXX, XXXXX X.			0				499.75				4013				3/22/2010				5997				12
0000000000		XXXXXXX, XXXXXXX X.			12.9				154.99				8289.16				3/22/2010				8545				84
4135013771		SHUTTLES, XXXXXX X.			0				250				2000				3/23/2010				3000				12
4135013772		XXXXXX, XXXXXX X.			12.9				153.44				8205.94				3/23/2010				8460				84
4135013780		XXXXX, XXXXXXX X.			12.9				154.99				8353.54				3/25/2010				8545				84
0000000000		XXXXXXX, XXXXXX X.			17.9				120.52				5679.98				3/26/2010				5750				84
4135013787		XXXXXX, XXXXXX			12.9				154.99				8151.37				3/27/2010				8545				84
4135013788		XXXXXXXX, XXXXX X.			12.9				114.18				6248.49				3/27/2010				6295				84
4135013789		XXXXX, XXXX			12.9				195.8				10471.6				3/27/2010				10795				84
4135013795		XXXXXXX, GAY			0				398.33				3186.68				3/28/2010				4780				12
4135013797		XXXXXXXX, XXXXXXX X.			12.9				153.44				8205.94				3/28/2010				8460				84
4135013798		XXXXXXXXXX, XXXXX X.			17.9				428.63				10949.71				3/28/2010				11872.78				36
4135013799		XXXXXX, XXXXX X.			11.9				205.82				11299.77				3/28/2010				11695				84
4135013803		XXXXX, XXXXXXX X.			17.9				109.78				5108.54				3/29/2010				5238				84
4135013807		XXXXXXXXXXX, XXXXXX X.			0				300				2400				3/30/2010				3600				12
4135013809		XXXX, XXXXX X.			12.9				212.12				11343.78				4/1/2010				11695				84
4135013811		XXXX, XXXXX XXXXXXXXX			0				333.33				2651.68				4/1/2010				4000				12
0000000000		XXXXX, XXXXX			0				270.83				1265				4/1/2010				3250				12
4135013814		XXXXX, XXXXX			0				416.67				4166.66				4/1/2010				5000				12
4135013815		XXXXXXXXXXX, XXXXXX X.			12.9				203.96				10907.28				4/1/2010				11245				84
0000000000		DALLAS, XXXXXXX X.			0				499.79				3998.34				4/2/2010				5997.5				12
4135013823		XXXX, XXXXX			0				170.83				1366.68				4/3/2010				2050				12
0000000000		XXXXXXX, XXXX X.			17.9				103.88				4833.74				4/3/2010				4956.25				84
4135013831		HILL JR., XXXXXXX X.			11.9				307.4				10917.81				4/5/2010				11695				48
4135013834		XXXXXXX, XXXXXXXX X.			0				312.47				2124.93				4/5/2010				3749.6				12
0000000000		XXXXXX, XXXXXXX X.			12.9				195.8				7529.78				4/5/2010				10795				84
4135013838		XXX, XXXX XXX			12.9				195.8				10470.78				4/5/2010				10795				84
4135013840		XXXXX, XXXX X.			12.9				154.99				8288.35				4/5/2010				8545				84
4135013849		XXXX, XXXXXXX X.			0				374.58				2996.68				4/7/2010				4495				12

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL
CORPORATION

CONTRACT				INTEREST				PAYMENT				CURRENT				CONTRACT		ORIGINAL				ORIGINAL
NUMBER		NAME		RATE				AMOUNT				BALANCE				DATE		LOAN AMOUNT				TERM
4135013851		XXXXXX, XXXXXX X.			0				375				3000			4/7/2010			4500				12
4135013853		XXXXXX, XXXXXXX XXXXXX			17.9				108.99				5104.3			4/8/2010			5200				84
4135013858		XXXXX, XXXXX X.			0				374.58				2996.68			4/9/2010			4495				12
4135013860		XXXXXX, XXXXX X.			4.9				249.81				4972.41			4/9/2010			5700				24
4135013861		XXXXXXX, XXXXXX X.			11.9				205.82				11330.22			4/9/2010			11695				84
4135013866		PEJ, XXXXXXXX X.			12.9				130.5				7033.8			4/10/2010			7195				84
4135013869		XXXXX, XXXXX X.			12.9				195.8				10470.78			4/10/2010			10795				84
4135013871		XXXXXXXX, XXX X.			12.9				195.8				10470.78			4/10/2010			10795				84
4135013873		BARCELO, AILSA A.			4.9				162.16				3257.02			4/11/2010			3700				24
4135013874		XXXXXXXXX, XXXXX X.			12.9				153.44				8270.48			4/11/2010			8460				84
4135013881		XXXXXX, XXXXXXX X.			0				250				2250			4/12/2010			3000				12
4135013887		XXXXXXXXX, XXXXX			0				454.17				4995.83			4/12/2010			5450				12
4135013889		XXXX, XXXXX			0				395.83				3562.51			4/13/2010			4750				12
4135013901		PEI DR., XXXXXXX			12.9				236.61				12653.73			4/16/2010			13045.5				84
0000000000		XXXXX, XXXXXXXX X.			12.9				202.42				10909.97			4/16/2010			11160				84
4135013904		DAY, XXXXXX X.			14.9				125.06				6314.95			4/16/2010			6500				84
4135013907		XXXXX, XXXXX			14.9				129.78				6745			4/17/2010			6745				84
4135013909		HUNRICHS, XXXXXXX X.			0				454.17				4087.49			4/17/2010			5450				12
0000000000		XXXXXXXXXX, XXXXX			17.9				85.93				3905.58			4/18/2010			4100				84
4135013919		XXXX, XXXXX X.			12.9				118.51				6387.62			4/18/2010			6534				84
4135013921		XXXXXXXXX, XXXXXXX X.			12.9				212.12				11417.68			4/18/2010			11695				84
4135013922		XXXXXXXXXX, XXXXX			11.9				205.82				11407.62			4/19/2010			11695				84
4135013923		XXXXXXX, XXX W.			0				258.33				2325.01			4/19/2010			3100				12
4135013925		BURDGE SR., XXXXXXX X.			17.9				131.94				6256.96			4/19/2010			6295				84
4135013927		XXXX, XXXXX X.			11.9				174.15				9664.65			4/19/2010			9895				84
4135013928		XXXXXXXXXX, LE XXXX			11.9				232.22				12887.85			4/19/2010			13195				84
4135013930		XXXXXXXX, XXXXXXX X.			0				458.33				4000			4/19/2010			5500				12
4135013932		XXXXXXX, X. XXXXXX			0				395.42				3558.74			4/20/2010			4745				12
4135013933		XXXXX, XXXXXXXX			0				541.25				4871.25			4/20/2010			6495				12
4135013936		XXXXXX, XXXXXX X.			0				154.17				1387.49			4/21/2010			1850				12
4135013938		XXXXXX, XXXXXX X.			0				520.83				4687.51			4/21/2010			6250				12
4135013940		XXXXXX, XXXX			0				480.83				4328.51			4/21/2010			5770				12
0000000000		XXXXXXX, XXXXX X.			17.9				131.94				6179.16			4/21/2010			6295				84
4135013947		XXXXXX, XXXXXXX			11.9				205.82				11422.77			4/22/2010			11695				84
4135013948		XXXXXXXX, XXXXX X.			0				450				4050			4/23/2010			5400				12
4135013950		XXXXXXX, XXXXXX			12.9				152.27				8206.9			4/23/2010			8395				84
4135013954		XXXX, XXXXXXXXX			12.9				195.8				10634.62			4/24/2010			10795				84
4135013964		XXXXXX, XXXXX X.			17.9				157.1				6003.23			4/25/2010			8200				60
4135013971		XXXXX, XXXXXX			0				308.33				2775.01			4/26/2010			3700				12
4135013972		XXXXXX, XXXXXX			17.9				85.53				3607.6			4/26/2010			3700				70
4135013976		XXXXXXXX, XXXXXXX X.			12.9				146.82				7851.9			4/26/2010			8095				84
4135013982		XXXXX, XXXXX X.			17.9				277.38				15237.35			4/28/2010			15449.15				120
4135013985		XXXXXXXX, XXXX X.			0				516.67				5151.66			4/28/2010			6200				12
4135013990		HAWKLEE, XXX X.			0				499.58				4496.26			4/29/2010			5995				12
4135013993		XXXXXX, XXXX			17.9				171.23				7839.48			4/30/2010			8169.46				84
4135013994		XXXXX, XXXXX			12.9				122.34				6644.79			5/1/2010			8745				84
0000000000		XXXXXXX, XXXXXXX X.			17.9				118.85				4403.51			5/1/2010			4690.32				60
4135014004		XXXXXX, XXXXXX X.			12.9				163.15				8793.47			5/2/2010			8995				84
4135014005		XXXXX, XXXXX X.			12.9				228.44				12312.84			5/2/2010			12595				84
4135014008		XXXXXXXXX, XXXXX			12.9				163.15				8793.47			5/2/2010			8995				84
4135014009		XXXXXXXX, XXXXXX X.			12.9				195.8				9630.69			5/2/2010			10795				84
0000000000		XXXXXXXX, XXXXXX X.			12.9				315.83				17023.06			5/3/2010			17413.15				84
4135014016		X’XXXXXXX, XXXXXXX			12.9				186.09				10030.15			5/3/2010			10260				84
4135014021		XXXXXX, XXXXXX X.			0				291.46				2623.12			5/4/2010			3497.5				12
4135014024		XXXXXXX, XXXXX X.			0				374.58				3371.26			5/5/2010			4495				12
4135014029		XXXX, XXX			0				458.33				4568.34			5/7/2010			5500				12
0000000000		HARRIS JR., XXXXX X.			0				500				4500			5/7/2010			6000				12
4135014033		XXXXXXX, XXXXX X.			0				229.17				2062.49			5/8/2010			2750				12
4135014034		XXXXXXXX, XXXXXX			17.9				256.19				13912.06			5/8/2010			14268.66				120
4135014035		XXXXXX, XXXXXX X.			0				433.33				4333.34			5/8/2010			5200				12
4135014041		XXXX, XXXXXXXX X.			12.9				154.99				8403.04			5/8/2010			8545				84
4135014044		XXXXXXXX III, XXXXXXX X.			12.9				195.8				10553.14			5/9/2010			10795				84
0000000000		XXXXXXXX, XXXXXXX X.			0				725				6525			5/10/2010			8700				12
4135014050		XXXXXXXXX, XXXXXX			0				458.13				4643.54			5/10/2010			5497.5				12
4135014052		XXXXXXX, XXXXX X.			17.9				208.8				11558.34			5/11/2010			11629.53				120
4135014053		LEVY. XXXXXX			0				291.67				2916.66			5/11/2010			3500				12
0000000000		XXXXXXXX, XXXX X.			0				291.25				2621.25			5/11/2010			3495				12
4135014059		XXXX M.D., XXXXXX.			0				708.33				7083.34			5/13/2010			8500				12
0000000000		XXXXXXXXX XX., XXXXXXX			17.9				186.69				10366.32			5/13/2010			10397.91				120
0000000000		XXXX, XXXXXXX			0				499.58				4995.84			5/15/2010			5995				12
4135014075		XXXXXXX, XXXX X.			12.9				195.8				10575.64			5/16/2010			10795				84
4135014076		XXXXXX, XXXXXXX XXX			0				237.5				2375			5/17/2010			2850				12
4135014078		XXXX, XXXXXX X.			12.9				217.83				11831.59			5/17/2010			12010				84
0000000000		XXXXXX, XXXXX X.			0				145.83				1458.34			5/17/2010			1750				12
4135014082		XXXXXXX, XXXXXX X.			0				384.38				3843.74			5/18/2010			4612.5				12
4135014083		XXXXXXXX, XXXXX X.			11.9				205.82				11514.41			5/18/2010			11695				84
4135014085		XXXXXXXXXXXX, XXXX			4.9				514.74				10041.23			5/18/2010			11745				24
4135014086		XXXXX-XXXXXXXX, XXXXXX			14.9				120.16				6091.35			5/18/2010			6245				84
4135014088		XXXXXX, XXXXX X.			0				300				3000			5/19/2010			3600				12
4135014091		XXXXXX, XXXXX X.			12.9				154.99				8418.04			5/19/2010			8545				84
4135014096		XXXXX, XXXXX			12.9				383.61				11553.41			5/20/2010			21150				84
4135014099		NUTTO JR., XXXXXXX X.			17.9				104.8				4939.11			5/21/2010			5000				84
4135014102		XXXXXX, XXXXX			17.9				128.9				5931.85			5/21/2010			6150				84
4135014103		XXXXXXXX, XXXXXXX X.			12.9				130.5				7088.11			5/21/2010			7195				84
4135014110		XXXXXXX, XXXX			0				516.67				5166.66			5/23/2010			6200				12
4135014112		XXXXXXXXX, XXXXXXX X.			17.9				93.75				3700			5/23/2010			3700				60
4135014115		XXXXXX, XXX			17.9				131.94				6198.35			5/23/2010			6295				84
4135014116		XXXXXX, XXXXX X.			0				841.67				7908.33			5/24/2010			10100				12
0000000000		XXXXXXXX, XXXXX X.			12.9				186.09				10107.59			5/24/2010			10260				84
4135014120		XXXXXXXXX, XXXXXX X.			12.9				188.09				10107.59			5/24/2010			10260				84
4135014125		XXXXXX, XXXXXXXX			0				450				4500			5/25/2010			5400				12
0000000000		XXXXXXXX, XXXXX X.			12.9				153.44				8334.33			5/25/2010			8460				84
4135014129		XXXXXX, XXX X.			0				145.83				1458.34			5/26/2010			1750				12
4135014133		HACKER, XXXXXX X.			17.9				207.39				9769.26			5/27/2010			9895				84
0000000000		XXXXXXXX, XXXXX			4.9				251.89				5289.71			5/28/2010			5747.5				24
4135014139		XXX, XXXXXXX X.			0				333.33				3333.34			5/29/2010			4000				12
4135014140		XXXXX, XXXXX X.			17.9				167.67				7902.6			5/29/2010			8000				84
4135014141		XXXXX, XXXXXX X.			11.9				150.39				8413.03			5/29/2010			8545				84
4135014142		XXXXXX, XXXX X.			11.9				156.81				8757.25			5/29/2010			8910				84
0000000000		XXXXXX, XXXXX XXXX			12.9				154.99				8433.19			5/30/2010			8545				84
4135014144		FEHLIMAN, XXXX X.			12.9				332.89				17862.87			5/31/2010			18353.28				84
4135014146		XXXXXX, XXXXXX X.			17.9				167.67				5228.51			5/31/2010			8000				84
4135014147		XXXXX, XXXXXXX			12.9				153.44				8332.77			5/31/2010			8460				84
4135014149		XXXXXX, XXXX			17.9				192.12				10441.33			6/1/2010			10700.71				120
4135014158		XXXXXXX, XXXXXXX			8.9				146.91				7645			6/3/2010			7645				66

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT				INTEREST				PAYMENT				CURRENT				CONTRACT		ORIGINAL LOAN				ORIGINAL
NUMBER		NAME		RATE				AMOUNT				BALANCE				DATE		AMOUNT				TERM
4135014161		XXXXXXX, XXXXXXXX			17.9				278.24				13113.47			6/4/2010			13275.11				84
4135014162		XXXXXX, XXXXX X.			17.9				285.79				15820.21			6/5/2010			15917.65				120
0000000000		XXXXXX, XXXX X.			4.9				241.05				5061.91			6/5/2010			5500				24
4135014166		XXXX, XXXXX X.			17.9				260.3				14431.71			6/5/2010			14498.19				120
4135014167		XXXXX, XXXXX X.			12.9				154.99				8418.04			6/5/2010			8645				84
4135014168		XXXXXXXX, XXXXX X.			12.9				153.44				8397.5			6/5/2010			8460				84
4135014169		XXXXXX, XXXXX			12.9				146.82				7974.75			6/5/2010			8095				84
4135014170		XXXXXX, XXXX			4.9				328.58				6522.56			6/6/2010			7497.36				24
4135014172		XXXXXX-XXXXXX, XXXX X.			4.9				158.21				2538.31			6/6/2010			3610				24
4135014174		XXXXX, XXXXX			0				166.67				1666.66			6/7/2010			2000				12
4135014176		XXXXXXX, XXXXXX			12.9				148.91				7979.68			6/7/2010			8100				84
4135014177		XXXXXX, XXXXX			12.9				212,12				11521.27			6/7/2010			11695				84
4135014179		XXXXXX, XXXXXXX X.			12.9				184.37				9897.59			6/7/2010			10165.25				84
4135014182		XXXXXX, XXXXXXX X.			17.9				195.13				10669.55			6/8/2010			10868.18				120
4135014183		XXXXXX, XXXXX X.			0				208.33				1875.67			6/8/2010			2500				12
4135014187		COLOMBO, XXXX X.			12.9				153.44				8397.5			6/9/2010			8460				84
0000000000		XXXXX, XXXXXXXXX X.			17.9				352.66				19212.93			6/10/2010			19642.17				120
0000000000		XXXX, XXXXXX X.			4.9				208.18				4561.21			6/11/2010			4750				24
4135014195		GARCIA SR., XXXXXXX X.			17.9				152.61				8447.97			6/11/2010			8500				120
4135014198		XXXX, XXXXXX X.			4.9				262.74				5756.73			6/12/2010			5995				24
4135014199		XXXXXX, XXXX			11.9				189.98				10628.31			6/12/2010			10795				84
4135014202		XXXX, XXXXX X.			11.97				207.27				10509.11			6/12/2010			10610.54				72
4135014206		XXXXXXX, XXXXXX X.			0				341.67				3401.66			6/13/2010			4100				12
4135014207		XXXXXXXX, XXXXXX			17.9				402.65				22346.27			6/13/2010			22426.74				120
4135014210		XXXXXXX, XXXXXXX X.			17.9				175.21				9608.53			6/13/2010			9758.53				120
0000000000		XXXXXX, XXXXXXX X.			0				499.79				5497.71			6/14/2010			5997.5				12
4135014215		XXXXX JR., XXXXXX X.			4.9				208.07				4747.5			6/14/2010			4747.5				24
4135014220		XXXXXXXXX, XXXXXXXXX			17.9				159.34				8820.65			6/15/2010			8874.97				120
4135014227		LOGEFEIL, XXXXXX X.			17.9				104.8				4774.58			6/15/2010			5000				84
4135014231		XXXXXXXXX, XXXX			12.9				155.08				8501.83			6/15/2010			8550				84
0000000000		XXXXX, XXXXXXXXX			12.9				203.96				11161.92			6/16/2010			11245				84
4135014235		XXXX, XXXXXX X.			0				499.58				5495.42			6/16/2010			5995				12
4135014236		XXXXXXX, XXXXXXXX			0				258.33				2841.67			6/17/2010			3100				12
4135014237		XXXXXX, XXXX			0				725				7250			6/17/2010			8700				12
4135014238		XXXX, XXXXXX X.			12.9				251.39				13654.1			6/17/2010			13860				84
0000000000		XXXXX, XXXX			14.9				173.07				8827.39			6/19/2010			8995				84
4135014242		XXXXXX, XXXXXXX X.			4.9				131.48				3000			6/19/2010			3000				24
4135014246		XXXXX, XXXXXX			17.9				131.94				5243.77			5/19/2010			6295				84
0000000000		XXX XXXXXX-XXXXXXXX, XXXXX X.			12.9				151.54				8293.27			6/22/2010			8355				84
4135014261		XXXXXXXX, XXXXXXX X.			0				341.67				3758.33			6/22/2010			4100				12
4135014263		XXXX, XXXXX X.			0				683.33				7510.67			6/24/2010			8200				12
4135014265		XXXXXX, XXXX X.			0				708.33				7791.67			6/25/2010			8500				12
4135014266		XXXXXXXXX, XXXXX			0				666.67				7333.33			6/25/2010			8000				12
0000000000		XXXXXXX, XXXXX X.			12.9				154.99				8436.85			6/26/2010			8545				84
4135014273		XXXXXXX, XXXX X.			0				308.33				3391.67			6/27/2010			3700				12
0000000000		XXXXXXXX, XXXXXX			12.9				252.94				13685.81			6/30/2010			13945.5				84
4135014293		XXXXXXX, XXXXXXX			12.9				154.99				8545			7/1/2010			8545				84
4135014298		XXXXXXX, XXXXXXX			0				291.67				3500			7/2/2010			3500				12
0000000000		DELGADO JR., XXXX			17.9				155.04				8436.38			7/3/2010			8535.15				120
4135014306		XXXX, XXXXX X.			12.9				195.8				10715.24			7/3/2010			10795				84
4135014310		XXXXX, XXXX			17.9				238.53				13285.66			7/4/2010			13285.66				120
4135014315		XXXXXX, XXXXXX X.			12.9				114.18				6295			7/4/2010			6295				84
4135014324		KRUCZEK, EDWARD J.			14.9				147.19				7597.79			7/5/2010			7650				84
4135014325		BARR, ROBERT A.			17.9				88.69				3463.51			7/6/2010			3500				60
4135014328		O’CONNELL, PATRICIA K.			14.9				154.12				7955.33			7/6/2010			8010				84
4135014331		GOLLEDGE, SHARON R.			0				308.33				3391.67			7/7/2010			3700				12
4135014335		BLANCHFIELD, CATHY L.			0				395.63				4351.86			7/8/2010			4747.5				12
4135014336		BRADLEY, ROBIN A.			17.9				173.23				9507.07			7/8/2010			9648.44				120
4135014337		MICHAEL, HEATHER			17.9				216.62				12028.43			7/9/2010			12065.08				120
4135014338		JACOBI, MARK A.			17.9				109.41				105.95			7/9/2010			5220				84
4135014342		DOW, LARRY CHRISTOPHER			16.9				252.53				14583.29			7/9/2010			14583.29				120
4135014343		KISLACK, GERALDINE D.			0				500				5500			7/10/2010			6000				12
4135014348		BARR, ERIC R.			4.9				284.87				6500			7/10/2010			6500				24
4135014351		CLIFTON, LEON			17.9				169.67				8095			7/11/2010			8095				84
4135014352		PAGNOTTA, JASON			10.9				214.82				12490.78			7/11/2010			12584.61				84
4135014357		LEWIN, JAMES B.			0				374.79				4122.71			7/12/2010			4497.5				12
4135014360		MCNEESE, GEORGE			12.9				329.27				17827.79			7/12/2010			18153.93				84
4135014361		ROMIG, GARY R.			4.9				153.39				3500			7/12/2010			3500				24
4135014366		REESE, VIRGINIA M.			11.9				189.98				10712.07			7/13/2010			10795				84
4135014368		THOMAS, CHRISTIAN A.			12.9				154.99				8545			7/14/2010			8545				84
4135014375		NASH, JOSEPH A.			11.9				244.35				13730.24			7/16/2010			13883.88				84
4135014381		OATES, SUSAN L.			12.9				114.18				6295			7/18/2010			6295				84
4135014384		GARCIA, RAUL O.			4.9				241.05				5500			7/18/2010			5500				24
4135014385		LANCASTER, JAMES P.			17.9				85.63				3700			7/19/2010			3700				70
4135014388		DEWITT, CRAIG A.			4.9				262.96				6000			7/19/2010			6000				24
4135014389		WOOD, KAY			17.9				167.67				8000			7/19/2010			8000				84
4135014393		DE LA CRUZ JR., RAMON			12.9				153.44				8460			7/20/2010			8460				84
4135014394		SAMMONS, LARRY			4.9				197.22				4500			7/21/2010			4500				24
4135014399		SIEGER, JULIA E.			0				520.83				6250			7/21/2010			6250				12
4135014401		ZEHE, TONI D.			12.9				195.8				10795			7/23/2010			10795				84
4135014404		GANTERT, ANDREA J.			14.9				155.75				8095			7/24/2010			8095				84
4135014407		JEFFRIES, LILIA A.			4.9				227.9				5200			7/24/2010			5200				24
4135014409		BUSCHING, LLOYD O.			4.9				227.9				5200			7/24/2010			5200				24
4135014412		NEWTON, MICHAEL			17.9				163.47				9104.73			7/25/2010			9104.73				120
4135014416		ROSS, JOSEPHINE			17.9				85.53				3700			7/26/2010			3700				70
4135014422		PORTER, JEFFREY			12.9				154.99				8545			7/27/2010			8545				84
4135014425		BENCHOFF, DAVID A.			12.9				195.8				10795			7/28/2010			10795				84
4135014434		BENDING, HARRY A.			0				291.67				3500			7/30/2010			3500				12
4135014435		SCHROEDER, EDWARD C.			4.9				350.61				8000			7/30/2010			8000				24
4135014437		BOYD, MARK A.			17.9				315.01				17545.12			7/31/2010			17545.12				120
4135014444		BOOK, PATRICIA L.			11.9				295.05				16764.99			8/1/2010			16764.99				84
4135014452		ASBERRY, HENRY A.			12.9				195.8				10795			8/2/2010			10795				84
4130601459		PALOMARES T. JESUS			17.9				149.34				4994.85			1/15/2007			7125				84
4145011946		AMAVIZCA HERNANDEZ, HERMINIO			17.9				115.7				5238.73			4/26/2009			5520				84
4130049863		CLICK, JOANN			17.9				177.66				9098.03			6/13/2004			9895				120
4130056449		RIPLEY, THOMAS			17.9				277.72				10274.62			11/28/2006			13250				84
4130304587		PWYLL, AVILYNN			16.9				183.31				1901.75			3/29/2009			8995				84
4130401656		OVERMAN, STEVE			17.9				196.18				8260.27			9/23/2006			9360				84
4130700508		ATKINSON, ACE D.			17.9				209.98				5174.51			6/24/2002			11695				120
4130702729		HICKEY, WILLIAM J.			17.9				131.94				1929.69			7/19/2003			6295				84
4130703054		VALLEJOS, BERLINDA			17.9				167.68				3229.27			9/14/2003			8000				84
4130704083		FABIO, ROGER			16.9				155.77				7001.44			9/25/2004			8995				120
4135008125		KIRK, MARK A.			17.9				288.73				4307.14			12/29/2007			7997.5				36
4135008936		KOROL, ROBERT R.			17.9				150.81				6861.45			4/1/2008			7195.5				84
4135009093		DOUGLAS, DEBORA A.			17.9				118.84				4936.1			4/19/2008			5670				84

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

																						ORIGINAL
CONTRACT						INTEREST				PAYMENT				CURRENT				CONTRACT				LOAN				ORIGINAL
NUMBER				NAME		RATE				AMOUNT				BALANCE				DATE				AMOUNT				TERM
	4135009532			PASCOE, ESTHER			17.9				131.94				5498.45				6/8/2008				6295				84
	4135009569			MAYS, PAMELA			17.9				131.94				5776.72				6/12/2008				6295				84
	4135009621			TERRELL, STEPHEN M.			17.9				207.39				9650.42				6/18/2008				9895				84
	4135009740			GOLYAR, STEVEN L.			17.9				150.91				6210.58				7/2/2008				7200				84
	4135009800			VALDEZ, RINA			17.9				131.94				5364.84				7/10/2008				6295				84
	4135009827			BLAKELY, IVANA			17.9				192.07				8698.83				7/13/2008				9164				84
	4135009967			CAMPBELL, BRIAN			17.9				150.91				6194.59				7/27/2008				7200				84
	4135010032			HUFFINES JR., MEGAN			17.9				150.91				6058.54				8/3/2008				7200				84
	4135010277			PEINADO, OSCAR			17.9				311.25				13493.63				9/1/2008				14850				84
	4135010489			VILLARAZA, ANGELICA			17.9				149.02				5975.53				9/28/2008				7110				84
	4135010566			HARONOCK, SHANNON			17.9				216.82				9505.9				10/8/2008				10345				84
	4135010593			MCCABE, FRANCES C.			10.9				122.9				6228.09				10/11/2008				7200				84
	4135010643			ROEBUCK, DAVID			17.9				141.37				5857.22				10/16/2008				6745				84
	4135010740			VALENTINE, CECELIA E.			17.9				167.88				7436.03				10/29/2008				8010				84
	4135010800			HITCHCOCK, KYMBERLY			17.9				149.02				6934.24				11/7/2008				7110				84
	4135010802			MCCONNELL, CHERYL			17.9				150.91				5448.58				11/8/2008				7200				84
	4135010902			KNORR, REX A.			17.9				113.18				4872.19				11/18/2008				5400				84
	4135010934			MCCARTY, DOROTHY M.			17.9				198.07				9276.1				11/22/2008				9450				84
	4135010945			RIVERA, ERICK L			17.9				150.8				6360.71				11/23/2008				7195				84
	4135010948			BARAJAS, SALVADOR			17.9				113.18				5196.74				11/23/2008				5400				84
	4135010994			LUCAS, ANDREA M.			17.9				150.8				6523.59				11/30/2008				7195				84
	4135011090			BARNETT, RONALD E.			17.9				235.79				9755.6				12/14/2008				11250				84
	4135011123			GUAY, DEBORAH A.			17.9				150.8				8576.97				12/20/2008				7195				84
	4135011128			YANKE, GAYLYN			17.9				149.02				6747.76				12/20/2008				7110				84
	4135011154			MACPHERSON, DAMEN A.			17.9				130.59				4760.49				12/24/2008				5740				72
	4135011225			HANSEN, KEITH			17.9				197.96				9271.2				1/2/2009				9445				84
	4135011239			SCHULTZ, ERICKA			17.9				149.02				6390.18				1/4/2009				7110				84
	4135011262			GOVONI, AMELIA LOUISE			17.9				150.8				6248.03				1/8/2009				7195				84
	4135011487			MORNINGSTAR, STEPHEN			17.9				252.02				13755				2/14/2009				14036.74				120
	4135011496			YOST, ELIZABETH B.			17.9				129.95				5710.9				2/15/2009				6200				84
	4135011503			JOYNER, HILARY G.			17.9				150.81				6411.87				2/15/2009				7195.5				84
	4135011544			HURST, THOMAS M.			17.9				113.08				4954.62				2/22/2009				5395				84
	4135011587			JOHN, DAVID K.			17.9				113.08				5395				2/26/2009				5395				84
	4135011627			HUBA, MELODIE			11.9				189.98				9267.5				3/6/2009				10795				84
	4135011658			SELBY, ARON J.			11.9				126.63				6699.12				3/12/2009				7195				84
	4135011727			WILLIS, TONIA M.			17.9				131.95				5710.78				3/22/2009				6295.5				84
	4135011752			WILLIAMS, ALTA D.			11.9				162.71				7955.24				3/26/2009				9245				84
	4135011813			NESS, JOEL			12.9				112.63				5728.39				4/7/2009				6210				84
	4135011826			GELLER, CAROL			11.9				189.96				9364.7				4/9/2009				10795				84
	4135011905			STEVENSON, NANCY			12.9				146.91				7148.69				4/21/2009				8100				84
	4135011912			LOPEZ, EDWARD A.			12.9				146.91				7131.64				4/22/2009				8100				84
	4135011983			GLUCKMAN, IRA M.			11.9				205.82				10247.96				4/30/2009				11695				84
	4135012058			WASHINGTON SR., FRANCIS			11.9				126.63				6616.71				5/9/2009				7195				84
	4135012132			CRUZ, CHIVONA			4.75				126.08				8164.8				5/20/2009				8995				84
	4135012162			MESCEY-JARED, AMANDA			12.9				130.5				6396.46				5/25/2009				7195				84
	4135012198			RUMSEY, VICKI			12.9				122.34				8330.99				5/31/2009				6745				84
	4135012224			ESQUIVEZ, JUAN			12.9				130.5				6739.32				6/6/2009				7195				84
	4135012253			HENDERSON, SHARON			12.9				146.83				7034.62				6/10/2009				8095.5				84
	4135012270			JOE, JASPER			11.9				126.63				7195				6/12/2009				7195				84
	4135012350			WHITE, MATILDA L.			17.9				132.04				5803.74				6/23/2009				6300				84
	4135012387			MORA, NORMA			11.9				193.24				10191.87				7/3/2009				10980				84
	4135012393			ZARATE, SONIA D.			17.9				135.82				6006.99				7/4/2009				6480				84
	4135012417			RACICOT, DAVID			17.9				178.61				9616.17				7/8/2009				9948.27				120
	4135012421			DONALDSON, KENNETH			17.9				131.94				8179.16				7/9/2009				5295				84
	4135012464			ONLEY, LARRY G.			17.9				111.29				5024.64				7/15/2009				5310				84
	4135012474			CARSON, LINDA			12.9				195.89				9783.77				7/18/2009				10800				84
	4135012481			BRANDENBURG, CHARLES L			11.9				205.82				9311.87				7/18/2009				11695				84
	4135012597			LAWSON, ROBERT J.			12.9				154.99				8418.04				7/31/2009				8545				84
	4135012613			FRIDLEY, JAMA J.			12.9				195.8				10218.47				8/3/2009				10795				84
	4135012632			POOLE, BENJAMIN A.			12.9				114.18				5806.7				8/6/2009				6295				84
	4135012655			MARTINEZ, RICHARD			14.9				155.75				7708.59				8/11/2009				8095				84
	4135012678			ESCOBAR, MARILOU			12.9				199.15				3421.44				8/15/2009				10980				84
	4135012708			JACKSON, MARK			4.9				262.85				3321.28				8/22/2009				5997.5				24
	4135012714			CRUMP, BARBARA			12.9				146.83				7789.96				8/23/2009				8095.5				84
	4135012723			MORGAN, MAURICE F.			17.9				131.94				5718.4				8/24/2009				6295				84
	4135012746			STONE-STEINHAUER, SARAH			17.9				131.95				5874.01				8/29/2009				6295.5				84
	4135012761			JENKINS, DANA T.			16.9				219.98				9849.53				8/31/2009				10795				84
	4135012788			LONG, MATTHEW			12.9				114.18				5806.7				9/5/2009				6295				84
	4135012800			LARSON, VERNON O.			11.9				205.82				10656.16				9/6/2009				11695				84
	4135012825			WINCHESTER, AMY E.			11.9				155.14				8106.67				9/10/2009				8815				84
	4135012859			EVANS III, SAMUEL M.			11.9				205.82				10763.13				9/17/2009				11695				84
	4135012870			WOODS, M.L.			17.9				131.94				6179.16				9/19/2009				6295				84
	4135012905			PARISELLA, JAY SCOTT			12.9				202.42				10247.76				9/24/2009				11160				84
	4135012910			YANES, ORLANDO			11.9				205.62				11514.41				9/26/2009				11695				84
	4135012978			GUEST, KIMBERLY P.			12.9				154.99				7951.72				10/8/2009				8545				84
	4135012988			PURICH, FRANK W.			17.9				131.94				5960.29				10/9/2009				6295				84
	4135013019			BEDONI, FREDRICK K.			11.9				205.82				11236.75				10/15/2009				11695				84
	4135013027			MARTENS, DAN			11.9				205.82				11695				10/16/2009				11695				84
	4135013032			JAMES, DAVID			12.9				151				7828.99				10/17/2009				8325				84
	4135013043			COWELL, DAVID W.			11.9				189.98				10002.53				10/18/2009				10795				84
	4135013053			CAVEY, JAMES S.			0				350				1050				10/20/2009				4200				12
	4135013061			CORBIN, ROBERT C.			12.9				146.82				8095				10/21/2009				8095				84
	4135013132			STEUBEN, ROBERT W.			12.9				146.01				7491.09				11/2/2009				8050				84
	4135013133			AISPURO, JOSE LUIS			17.9				127.85				5802.21				11/2/2009				6100				84
	4135013143			BROWN, STEPHAN M.			17.9				150.1				8117.25				11/4/2009				8360				120
	4135013167			SALAIZ. ANASTACIO S.			17.9				87.01				3763.81				11/7/2009				3995				78
	4135013169			ALVIDREZ, JOSE A.			17.9				169.67				7946.04				11/7/2009				8095				84
	4135013196			RUSSELL. JAMES R.			0				558.33				2218.36				11/14/2009				6700				12
	4135013241			DOMINEY. DANIEL H.			0				372.92				1491.64				11/22/2009				4475				12
	4135013300			IGOLI. CHARLES E.			17.9				207.39				9390.92				12/5/2009				9895				84
	4135013365			MILTON, DEBRA			12.9				154.99				8545				12/20/2009				8545				84
	4135013377			ELLE, REBECCA			12.9				146.82				7646.99				12/21/2009				8095				84
	4135013389			SIMPSON. CYNTHIA A.			17.9				173.3				9563.05				12/26/2009				9652.34				120
	4135013403			BUUS, DEIDRE L.			4.9				271.73				4453.8				12/28/2009				6200				24
	4135013414			PHELPS, MARILYN M.			4.9				175.31				4000				12/29/2009				4000				24
	4135013446			DLUGOSZ, JOHN J.			17.9				132.04				6223.29				1/5/2010				6300				84
	4135013481			NEAS, KEN			12.9				114.18				6057.38				1/18/2010				6295				84
	4135013493			ORTEGA, LOUIE			17.9				131.94				6099.02				1/20/2010				6295				84
	4135013498			DUARTE, RAMON R.			12.9				195.8				10318.89				1/21/2010				10795				84
	4135013522			WILKINSON, JOSEPH A.			17.9				197.9				8969.8				1/27/2010				9442.13				84
	4135013575			WARRINGTON JR., JOSEPH H.			16.9				137.58				5873.01				2/10/2010				6200				72
	4135013580			CROWLEY, KELLY			17.9				131.94				6208.61				2/11/2010				6295				84
	4135013791			MILLS, JOHN W.			4.9				392.25				7518.43				3/27/2010				8950				24
	4135013792			JIMENO, JAY			12.9				154.99				8288.35				3/27/2010				8545				84
	4135013806			MEDINA, ANTONIO B.			17.9				131.94				6179.16				3/29/2010				6295				84

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT				INTEREST				PAYMENT				CURRENT				CONTRACT		ORIGINAL LOAN				ORIGINAL
NUMBER		NAME		RATE				AMOUNT				BALANCE				DATE		AMOUNT				TERM
4135013820		TERAN, ANGEL V.			17.9				89.5				4191.4			4/2/2010			4270				84
4135013841		BURFORD, JOANN			17.9				178.15				8343.6			4/6/2010			8500				84
4135013867		YANEZ, RUBEN			14.25				169.81				8803.75			4/10/2010			8995				84
4135013877		MORENO, MARTHA ELENA			12.9				114.18				6295			4/11/2010			6295				84
4135013890		AVILA, MARIANNE			14.9				155.75				7815.46			4/13/2010			8095				84
4135013898		HARRIS, ROBERT D.			17.9				136.76				6404.93			4/14/2010			6525				84
4135013915		DURANT, PATRICK			11.9				221.66				12286.53			4/18/2010			12595				84
4135013924		AVILA, JUAN			12.9				153.44				8460			4/19/2010			8460				84
4135013929		MAES, ALICE			0				291.25				2912.5			4/19/2010			3495				12
4135013980		BAILEY, MAX			17.9				131.94				6165.97			4/27/2010			6295				84
4135014001		MARTINEZ, PRISCILLA			12.9				154.99				8308.53			5/2/2010			8545				84
4135014122		SPENCER, RODNEY			17.9				88.69				1331.58			5/25/2010			3500				60
4135014203		WILLIS, HUEL L			12.9				154.99				8545			6/12/2010			8545				84
4135014211		GUTIERREZ. DELILIAH			17.9				162.7				9061.83			6/13/2010			9061.83				120
4135014226		MALI, TUSHAR			0				437.5				4812.5			6/15/2010			5250				12
4135014233		NAT, RONALD J.			17.9				182.35				8647.42			6/16/2010			8700				84
4135014251		ONICK, ROBERT L.			17.9				85.53				3669.66			6/20/2010			3700				70
4135014267		ZANIN, STEVE J.			11.9				189.98				10712.07			6/25/2010			10795				84
4135014281		CLEMANS, WILLIAM			11.9				205.82				11605.15			6/28/2010			11695				84
4135014316		MCCORMICK, DAVID A.			17.9				85.53				3669.66			7/4/2010			3700				70
4135014344		PAULLEY, RAYMOND E.			17.9				384.18				21086.57			7/10/2010			21397.82				120
4135014353		D’AURIA, LAWRENCE			11.9				153.55				8725			7/11/2010			8725				84
4135014382		SHANAHAN, ALAN			12.9				195.8				10795			7/18/2010			10795				84
4135014415		LOPEZ, SAMUEL MICHAEL			17.9				129.95				6200			7/26/2010			6200				84
4135014429		CARMONA, GABRIELA			12.9				195.8				10795			7/29/2010			10795				84
4135014446		MARTIN, JOHN R.			12.9				228.44				12595			8/1/2010			12595				84
4130052427		PETHICK, SUSAN A.			17.9				188.53				4661.62			5/10/2005			8995				84
4130052790		MCGRATH, JAINE			17.9				131.94				4107.39			7/2/2005			6295				84
4130053012		HOPKINS, MARK			17.9				150.81				4039.49			7/31/2005			7195				84
4130053792		STELL, RICHARD F.			17.9				132.05				4139.36			11/19/2005			6300				84
4130055687		GARCIA, MIGUELINA B.			17.9				161.5				7936.52			7/31/2006			8995				120
4130600237		SPARRAZZA, CRAIG A.			16.9				183.43				2357.46			6/20/2003			10000				84
4130601121		MICHELI THIRIC, JORDY			17.9				186.65				4252.88			9/16/2005			8905				84
4130601287		COHN, DAVID W.			17.9				157.36				2246.39			3/19/2006			6210				60
4130601502		MANJARRES V., ROGELIO			17.9				132.47				4753.96			9/16/2006			6320				84
4130703486		ILAGAN, EDITA N.			16.9				155.77				5664.28			3/13/2004			8995				120
4130704355		COE, JANICE			17.9				139.59				2955.24			2/25/2005			6660				84
4130704430		KUNZ, DONNA M.			17.9				348.89				13746.45			4/3/2005			19431.83				120
4135000376		WEBB, LARRY A.			16.9				198.46				8618.32			3/21/2005			11460.4				120
4135006987		ROLLS, MITCHELL W.			17.9				145.34				7253.72			9/5/2007			8095				120
4135008495		WILKS, BRYN			17.9				193.82				10132.25			2/16/2008			10795				120
4135009785		METHOD, THELMA			17.9				113.18				5023.78			7/7/2008			5400				84
4135009943		MCHOLM, MATTHEW G.			17.9				205.2				11093.68			7/25/2008			11429.06				120
4135010090		ALVAREZ, BECCA			17.9				150.8				6773.71			8/9/2008			7195				84
4135010165		STENSON, THOMAS P.			17.9				150.8				6741.67			8/17/2008			7195				84
4135010490		JOHNSON, SAMUEL			17.9				203.72				9039.19			9/28/2008			9720				84
4135010539		AHASTEEN, JAMESITA L			17.9				218.81				9676.13			10/5/2008			10440				84
4135010599		TARTAGLIO, TROY			17.9				113.08				4809.3			10/12/2008			5395				84
4135010713		NELSON, STEPHAN L			17.9				150.8				6305.7			10/25/2008			7195				84
4135010884		SHASHATY, PAUL A.			17.9				149.02				6631.65			11/16/2008			7110				84
4135010910		BEIGEL, PATRICIA A.			17.9				147.22				7609.1			11/20/2008			8200				120
4135010918		ESTRADA, VICTOR			17.9				150.8				7151.52			11/21/2008			7195				84
4135010925		HARRED, BOBBY L			17.9				149.02				7110			11/22/2008			7110				84
4135010935		ABBOTT, LELTON			17.9				150.8				6523.59			11/22/2008			7195				84
4135010946		ASBERRY SR., WILLIAM			17.9				160.34				7603.08			11/23/2008			7650				84
4135010965		HASBROOK, JOHN			17.9				130.16				5537.39			11/25/2008			6210				84
4135011018		ATWOOD, RICHARD I.			17.9				135.07				6963.97			12/3/2008			7500				119
4135011047		ANDERSON, DONICE M.			12.9				137.12				7347.11			12/7/2008			7560				84
4135011106		SCALZI, TRACEY			17.9				197.97				8221.03			12/16/2008			9445.5				84
4135011119		FOLLMER, TRISHA			17.9				160.34				7085.35			12/20/2008			7650				84
4135011129		BERNAL, LIBORIO			17.9				111.08				5300			12/20/2008			5300				84
4135011134		IBARRA, JENNIFER			17.9				167.88				8010			12/21/2008			8010				84
4135011143		SOVERNS, JEANNETTE			17.9				188.82				10153.27			12/22/2008			10516.58				120
4135011151		COOK SR., ABRAM L.			17.9				225.26				12237.73			12/23/2008			12546.33				120
4135011170		SALCIDO, PATRICIO			17.9				150.8				6415.81			12/27/2008			7195				84
4135011173		GARCIA, DAVID E.			17.9				167.67				7207.3			12/27/2008			8000				84
4135011186		CRIPE, R. DAVID			17.9				116.95				5266.95			12/28/2008			5580				84
4135011197		SMITH, KINSEY			17.9				150.8				7151.52			12/29/2008			7195				84
4135011223		FOX JR., ROGER ALLAN			17.9				149.02				6993.4			1/2/2009			7110				84
4135011228		HAMILTON. SHARMAINE			17.9				148.81				6591.21			1/3/2009			7100				84
4135011237		GORE, JOHN P.			17.9				149.02				6498.59			1/3/2009			7110				84
4135011242		LERMA, SARAH			17.9				148.81				7013.54			1/4/2009			7100				84
4135011269		MARCHAND JR., LARRY E.			17.9				150.8				6794.5			1/10/2009			7195				84
4135011282		KUPSKY, DARREN			17.9				211.27				9139.36			1/11/2009			10080				84
4135011290		VIVAR, JEANNIE			17.9				149.02				6557.83			1/14/2009			7110				84
4135011337		WILKINSON, YHANA L.			17.9				226.27				9990.73			1/20/2009			10795.5				84
4135011355		WILSON, MARY ELAINE			17.9				150.81				7195.5			1/24/2009			7195.5				84
4135011396		MACEK II, LESTER F.			17.9				299.93				14310			1/31/2009			14310				84
4135011429		GALLEGOS, JAMES E.			17.9				188.53				7951.94			2/6/2009			8995				84
4135011438		AGUILAR, ROGELIO			17.9				158.45				7355.8			2/7/2009			7560				84
4135011447		TURNER, BLANCHE MARIE			17.9				150.8				7195			2/8/2009			7195				84
4135011456		KELLOCK, JOHN ROSS			17.9				129.95				5432.8			2/9/2009			6200				84
4135011464		MAIALE, ENRICO			17.9				205.4				8738.7			2/10/2009			9800				84
4135011469		LYNCH, SUZANNE J.			17.9				133.08				6805.47			2/12/2009			7412.29				120
4135011488		CHARTER, ROGER			17.9				150.91				7200			2/14/2009			7200				84
4135011493		HORTIN, SILVIA MARIANA			17.9				198.07				9450			2/15/2009			9450				84
4135011522		ERICKSON, TERRY L.			17.9				219.42				11400.78			2/18/2009			12221.36				120
4135011540		WOMACK, JOAN M.			17.9				320.57				14962.63			2/22/2009			15295				84
4135011557		RURUP, DANIEL M.			13.9				193.29				9732.88			2/24/2009			10345				84
4135011579		COX, CLAUDIA			17.9				149.02				6747.76			2/28/2009			7110				84
4135011580		ALBERS, BRIAN J.			17.9				122.61				5616.06			2/28/2009			5850				84
4135011589		BASS JR., MICHAEL J.			17.9				85.32				3378.45			2/28/2009			3750				72
4135011593		GONZALES, ALFRED			17.9				149.02				6493.23			3/1/2009			7110				84
4135011600		WASHINGTON, TINA S.			17.9				265.07				14412.88			3/1/2009			14763.94				120
4135011632		DELANEY, TERESA ELAINE			11.9				189.98				9950.8			3/7/2009			10795				84
4135011662		GOMIS, JUSTINE M.			17.9				247.96				12836.02			3/13/2009			13810.57				120
4135011674		HENRY, OTHNIEL L.			11.9				126.63				7195			3/15/2009			7195				84
4135011684		CZARNECKI, THOMAS C.			17.9				261.43				13768.09			3/16/2009			14560.86				120
4135011703		REGLEY, KAREN			17.9				149.02				7110			3/19/2009			7110				84
4135011705		VALLES, GUILLERMO			11.9				189.98				10020.83			3/20/2009			10795				84
4135011707		KAUFHOLD, JOHN			11.9				189.98				9364.62			3/20/2009			10795				84
4135011714		SIMPSON, ROBERT			11.9				189.98				10528.72			3/21/2009			10795				84
4135011720		MORAGA, DAVID J.			11.9				189.98				9743.66			3/22/2009			10795				84
4135011746		ENGLEMAN, DONNA			17.9				147.22				7102.92			3/25/2009			8200				120
4135011794		TEUTUPE, ILOILO			11.9				147.31				7788.78			4/4/2009			8370				84

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT				INTEREST				PAYMENT				CURRENT				CONTRACT		ORIGINAL LOAN				ORIGINAL
NUMBER		NAME		RATE				AMOUNT				BALANCE				DATE		AMOUNT				TERM
4135011802		HOUGHTON. JAMES A.			11.9				348.29				19202.88			4/5/2009			19790				84
4135011829		LUQUE, DANIEL ALFONSO			11.9				152.86				8275.03			4/9/2009			8685				84
4135011838		MANZANO, LAUREN			17.9				150.8				7151.52			4/11/2009			7195				84
4135011876		REZA, RUDY			17.9				230.13				10980			4/15/2009			10980				84
4135011887		ROJAS, RAFAEL			11.9				207.5				11325.95			4/17/2009			11790				84
4135011888		CALDERON, WALTER E.			17.9				131.94				6256.96			4/18/2009			6285				84
4135011889		BROWN, STEVEN T.			17.9				131.94				6139.39			4/18/2009			6295				84
4135011955		GOEKE, JASON L			12.9				177.93				9664.26			4/26/2009			9810				84
4135011980		FRENCH, DAVID			11.9				152.85				8550.88			4/29/2009			8685				84
4135011987		GEORGETTE, DONNA L.			12.9				146.82				7127.2			5/1/2009			8095				84
4135011989		CHUMLEY, AMY			11.9				189.98				10795			5/1/2009			10795				84
4135011995		BRIAR, RYAN			11.9				129.88				6509.32			5/2/2009			7380				84
4135012045		SANDROCK, KEN			17.5				130.47				5833.49			5/7/2009			6295				84
4135012048		OSS, CRYSTAL L.			11.9				188.49				10028.39			5/8/2009			10710				84
4135012056		WHITE, JEFF			12.9				146.82				7333.37			5/9/2009			8095				84
4135012057		BENNETT III, EUGENE			12.9				195.8				10795			5/9/2009			10795				84
4135012091		DIAZ, YESSIKA Y.			17.9				131.94				5974.05			5/16/2009			6285				84
4135012142		MARTIN, JAMES			12.9				145.28				7189.05			5/23/2009			8010				84
4135012160		RAY, STEPHEN M.			12.9				146.1				7554.23			5/25/2009			6055				84
4135012218		RIOS, KELLEY M.			12.9				112.63				5739.84			6/4/2009			6210				84
4135012315		CASAS, STEVEN G.			12.9				190.99				10388.57			6/20/2009			10530				84
4135012329		KERSH, STEVEN			11.9				149.7				5597.79			6/21/2009			6745				60
4135012333		ROGERS, CLIFFORD N.			17.9				132.04				6144.28			6/22/2009			6300				84
4135012335		CUARON, JESSE L.			12.9				146.01				7551.08			6/22/2009			8050				84
4135012359		GRANT, CONSTANCE J.			11.9				205.82				10898.97			6/25/2009			11695				84
4135012370		LINKER, JEAN IONE			11.9				126.63				6785.43			6/28/2009			7195				84
4135012376		GOSS, ROBERT TYLER			12.9				199.15				10038.18			6/29/2009			10980				84
4135012389		HANSON, GAYLE A.			12.9				355.76				8347.92			7/3/2009			10573.76				36
4135012390		ASHCRAFT, RICHARD			17.9				221.97				12096.64			7/3/2009			12363.26				120
4135012429		EYRE, SHELLY			12.9				146.82				7717.71			7/10/2009			8095				84
4135012432		LOPEZ, JACQUELINE			12.9				146.82				8035.2			7/10/2009			8095				84
4135012434		DALEY, MARINA			11.9				152.85				8535.58			7/10/2009			8685				84
4135012436		LINDSEY, RITA GUTIERREZ			17.9				135.82				6480			7/11/2009			6480				84
4135012505		PAWLICKI, REINHARD S.			14.9				283.97				17112.83			7/23/2009			17668.01				120
4135012587		VETTER, DONALD R.			17.9				131.94				5799.08			7/28/2009			6295				84
4135012588		CONNOR, JOSEPH			12.9				171.31				8556.31			7/28/2009			9445				84
4135012589		WESTON, RUTH M.			11.9				158.31				8729.86			7/29/2009			8995				84
4135012593		JOHNSON, LINDA A.			17.9				235.1				13094.31			7/29/2009			13094.31				120
4135012595		CORNELIUS, DONNA L.			7.9				125.77				7449.69			7/29/2009			8095				84
4135012598		SNOW, LAURA NAN			4.9				241.05				3981.39			7/31/2009			5500				24
4135012659		HERNANDEZ, PAUL			12.9				146.83				8050.37			8/12/2009			8095.5				84
4135012669		PERKINS, VICKI			12.9				112.63				5878.31			8/13/2009			6210				84
4135012701		VAN DYKE, CARRIE			12.9				114.18				5970.26			8/19/2009			6295				84
4135012704		ROMER, MINA K.			12.9				114.18				5857.91			8/20/2009			6295				84
4135012709		RUIZ, ROBERT			17.9				187.44				10293.9			8/22/2009			10440				120
4135012784		YOURGULEZ, NICK M.			17.9				131.94				6097.83			9/5/2009			6295				84
4135012799		PIGFORD, YVONNE L.			17.9				131.94				6295			9/6/2009			6295				84
4135012827		ALLISON, JACQUELINE			17.9				283.95				15583.68			9/12/2009			15815.31				120
4135012832		AVILA, ROBERT			17.9				173.54				8127.65			9/12/2009			8280				84
4135012833		RAPP, JASON			12.9				146.82				7851.36			9/12/2009			8095				84
4135012861		MADDIX, DONNA O.			17.9				169.67				7381.56			9/17/2009			8095				84
4135012868		HARDEN, LOLETHEA L.			11.9				158.31				8995			9/18/2009			8995				84
4135012872		WILLIAMS, CHAD R.			17.9				135.82				6061.01			9/19/2009			6480				84
4135012946		KRIZMAN, JULIA M.			17.9				140.11				6505.13			10/2/2009			6685				84
4135012947		TARANTINO, PATRICK J.			17.9				469.38				20947.21			10/2/2009			22395				84
4135012949		MCCARTHY, DEBRA			4.9				153.17				1603.16			10/3/2009			3495				24
4135012951		CALDWELL, WILLIAM			17.9				131.94				5888.82			10/3/2009			6295				84
4135012990		MIRANDA, JOSEFA			12.9				130.5				6923.43			10/9/2009			7195				84
4135013017		HINTZ, WENDELL C.			12.9				122.34				6566.35			10/14/2009			6745				84
4135013041		BELL, REBECCA			12.9				195.8				10634.62			10/18/2009			10795				84
4135013124		LYNCH, KATHLEENA			17.9				131.94				6058.05			10/31/2009			6295				84
4135013147		CONTRERAS, JOEL			17.9				165.37				8985.93			11/4/2009			9210.91				120
4135013172		TORRES, RICKY			16.9				139.59				6653.95			11/8/2009			6850				84
4135013261		HOLDER, CHARLES B.			17.9				254.53				14120.24			11/27/2009			14176.78				120
4135013272		BERGGREN, G. PETER			12.9				228.44				12486.95			11/28/2009			12595				84
4135013276		RHODES, WILLIE J.			11.9				205.62				11345.37			11/28/2009			11695				84
4135013330		VARELAS, ROY M.			12.9				122.34				6679.73			12/12/2009			6745				84
4135013390		WASHINGTON, MAMIE			17.9				131.94				6295			12/26/2009			6295				84
4135013393		ALVARADO, PETER F.			12.9				146.82				8095			12/27/2009			8095				84
4135013413		COLBERT JR, HERMAN			12.9				212.12				11695			12/29/2009			11695				84
4135013420		TAYLOR, ROBERT V.			17.9				142.1				6698.52			12/30/2009			6780				84
4135013428		PEARSON, BRIAN			17.9				131.94				6270.15			1/2/2010			6295				84
4135013447		KOZLOSKI, DYANNA			17.9				131.94				6295			1/6/2010			6295				84
4135013468		KIND, STEVEN R.			12.9				146.1				8055			1/19/2010			8055				84
4135013501		MONTEROS-MALDONADO, MARIA			11.9				213.74				12145			1/22/2010			12145				84
4135013513		PARRA, GUILLERMO O.			17.9				179.1				8545			1/25/2010			8545				84
4135013567		BENNETT, JAMES			17.9				131.94				6295			2/7/2010			6295				84
4135013578		VELA, JOHN H.			17.9				278.41				12655.85			2/11/2010			13283.49				84
4135013640		CASTRO, JOSE R.			17.9				159.19				7371.52			2/26/2010			7595.4				84
4135013666		JERRELL, DUSTY			17.9				131.94				6295			3/2/2010			6295				84
4135013715		COOLEY, LINDA L.			17.9				131.94				6295			3/15/2010			6295				84
4135013800		REINHART, BRIAN			12.9				195.8				10795			3/26/2010			10795				84
4135013821		PREWITT, MARSHALL			17.9				167.88				7912.48			4/3/2010			8010				84
4135013870		DE COSTE JR., ROBERT J.			17.9				136.24				6379.67			4/10/2010			6500				84
4135013888		SLADE, JOHN C.			0				499.79				4498.13			4/12/2010			5997.5				12
4135013896		MANSON, VINCENT D.			17.9				131.94				6179.16			4/14/2010			6295				84
4135013966		STEVENS, EDWARD			12.9				195.8				10795			4/25/2010			10795				84
4135013968		DRAKE, LAWRENCE A.			17.9				173.29				9562.76			4/26/2010			9652.04				120
4135013992		JACOBS, COURTNEY L.			12.9				122.34				6745			4/29/2010			6745				84
4135013995		WHITE, JOHN T.			12.9				122.34				6593.88			5/1/2010			6745				84
4135014007		JOROMAT, JOHN R.			12.9				153.17				8382.61			5/2/2010			8445				84
4135014026		MITCHELL, CARSIE			12.9				135.53				7417.04			5/5/2010			7472.25				84
4135014063		DYER, RONALD A.			12.9				135.51				7360			5/13/2010			7471				84
4135014071		HOMER, JUDITH A.			17.9				131.94				6200.02			5/15/2010			6295				84
4135014090		HURTT, PHILIP			17.9				269.64				12595.18			5/19/2010			12864.95				84
4135014098		SEGURA, JENNIFER			12.9				145.1				8000			5/20/2010			8000				84
4135014104		SHADE, JAMES			12.9				179.47				9762.48			5/22/2010			9895				84
4135014173		MARTINEZ, JENNIFER M.			12.9				122.34				6745			6/6/2010			6745				84
4135014181		MANCILLA, JAIME			17.9				244.05				13340.94			6/8/2010			13592.83				120
4135014201		KRICK, DONALD R.			17.9				107.73				5970.99			6/12/2010			6000				120
4135014204		THOMPSON, BRIAN			14.9				120.25				6104.3			6/12/2010			6250				84
4135014217		JOHNSON, JHAMAL D.			17.9				308.11				17106.91			6/14/2010			17161.04				120
4135014250		RUIZ, JIMMY D.			17.9				176.12				9670.05			6/20/2010			9809.64				120
4135014291		SELPH II, ANDREW H.			17.9				115.58				4959			7/1/2010			5000				70
4135014339		GIBLIANT, DENNIS			11.9				189.98				10702.05			7/9/2010			10795				84

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT						INTEREST				PAYMENT				CURRENT				CONTRACT				ORIGINAL				ORIGINAL
NUMBER				NAME		RATE				AMOUNT				BALANCE				DATE				LOAN AMOUNT				TERM
	4135014356			LOPEZ, MIGUEL A.			17.9				150.91				8405.18				7/12/2010				8405.18				120
	4135014359			WILLIAMS, JASPER R.			12.9				195.8				10795				7/12/2010				10795				84
	4135014380			COX, MICHAEL D.			17.9				190.25				10596.41				7/18/2010				10596.41				120
	4135014400			LUGO-REICH, LOIS			17.9				129.95				6200				7/22/2010				6200				84
	4145011569			BRAU SANTACRUZ, SILVIA LAURA			17.9				154.53				7343.43				2/26/2009				7372.98				84
	4135014448			MCCONNER, ELIZABETH			0				133.33				1600				8/2/2010				1600				12
	4135014458			JACK, DOUGLAS			0				333.33				4000				8/4/2010				4000				12
	4135014450			CLARK, MICHAEL DOMENIC			4.9				372.53				8500				8/2/2010				8500				24
	4135014455			COOK, MARGO F.			12.9				154.99				8545				8/4/2010				8545				84
	4135014456			WILLIAMS, SHARON A.			17.9				213.44				11888.08				8/4/2010				11888.08				120
	4135014457			ROZADILLA, ALMA D.			17.9				245.97				13700				8/4/2010				13700				120
	4135014459			FIX SR., KENNETH O.			12.9				187.63				10345				8/4/2010				10345				84
	4135014460			WISHINSKY, ALLEN			17.9				85.53				3700				8/5/2010				3700				70
	4135014462			ALMONTE, MARIA W.			12.9				195.8				10795				8/6/2010				10795				84
	4135014463			SAMPSON, KATHERINE			12.9				195.8				10795				8/6/2010				10795				84
	4135014466			WEBB, EDWARD R.			4.9				262.96				6000				8/7/2010				6000				24
															17322644.31

ILX RESORTS INCORPORATED
CUSTOMER NOTES RECEIVABLE
SUBJECT TO ASSIGNMENT OF RELATED DEED OF TRUST TO TEXTRON FINANCIAL CORPORATION

CONTRACT						INTEREST				PAYMENT				CURRENT				CONTRACT				ORIGINAL				ORIGINAL
NUMBER				NAME		RATE				AMOUNT				BALANCE				DATE				LOAN AMOUNT				TERM
4150103154				HART, DOUGLAS G			17.9				112.24				530.97				11/4/2001				5353				84
4150103186				WARD, GEORGE			16.9				197.5				3070.54				12/28/2001				11405				120
															3601.51

The Passport Preview notes listed on the attached are not Timeshare Loans as defined in the Agreement.

ILX RESORTS INCORPORATED
CUSTOMER NOTES RECEIVABLE
PASSPORT PREVIEW PROGRAM

CONTRACT NUMBER		NAME		INTEREST RATE		PAYMENT AMOUNT		CURRENT BALANCE		CONTRACT DATE		ORIGINAL LOAN AMOUNT		ORIGINAL TERM
4135012337		SEITZBERG, BOB		0		97.78		97.76		6/22/2009		880		9
4135012638		ROAN, KRISTAL		0		97.78		466.88		8/7/2009		880		9
4135012675		KELLEY, MICHAEL		0		97.78		293.32		8/15/2009		880		9
4135012720		HARDEMAN, ANGELIQUE		0		97.78		97.76		8/24/2009		880		9
4135012741		HAGEL, DAWN		0		97.78		400.88		8/28/2009		880		9
4135012874		WHITEHEAD, ROBERT		0		97.78		782.22		9/19/2009		880		9
4135012977		BAKER, THERESA		0		97.78		684.44		10/7/2009		880		9
4135013210		MORA, JOHN		0		97.78		91.1		11/17/2009		880		9
4135013221		MCGRAW, JAMES		0		97.78		97.76		11/20/2009		880		9
4135013245		WALLER, HERMAN E.		0		97.78		97.76		11/23/2009		880		9
4135013267		LUBLIN, JILL		0		97.78		880		11/27/2009		880		9
4135013294		TOBIN, WENDY		0		97.78		97.76		12/4/2009		880		9
4135013297		BLAIR, STEPHEN		0		97.78		587.44		12/4/2009		880		9
4135013319		HAMILTON, KEITH V.		0		97.78		107.54		12/8/2009		880		9
4135013345		CAMPBELL, JOHN F.		0		97.78		195.54		12/14/2009		880		9
4135013384		MARQUETTE, LORI		0		97.78		166.2		12/23/2009		880		9
4135013397		FENTON, BETTY FAYE		0		97.78		488.88		12/27/2009		880		9
4135013427		SAYED, FAROOQUE		0		97.78		396.44		12/31/2009		880		9
4135013436		CORNICK, ELAINE		0		97.78		195.54		1/2/2010		880		9
4135013460		TAYLOR, STEPHEN		0		97.78		273.76		1/9/2010		880		9
4135013463		PUCHACZ, JOSEPH		0		97.78		195.54		1/10/2010		880		9
4135013507		WILLIAMS JR., DOUGLAS H.		0		97.78		880		1/24/2010		880		9
4135013518		MILNER, JOSEPH R.		0		97.78		293.32		1/26/2010		880		9
4135013566		DELANEY, PAUL ERNEST		0		97.78		293.32		2/7/2010		880		9
4135013589		MATIAS, ALEXIS		0		146.67		146.65		2/14/2010		880		6
4135013591		TAYLOR, BARBARA		0		97.78		391.1		2/14/2010		880		9
4135013597		BICHOTTE, DAPHNE		0		97.78		391.1		2/14/2010		880		9
4135013600		ROZARIO, DOMINIC		0		97.78		391.1		2/15/2010		880		9
4135013602		SWEGLE, VERN		0		97.78		391.1		2/15/2010		880		9
4135013636		RIEHL, RONALD		0		97.78		391.1		2/23/2010		880		9
4135013644		BESE, RICHARD H.		0		63.89		383.33		2/26/2010		575		9
4135013669		SMITH, DOUG		0		97.78		684.44		3/3/2010		880		9
4135013670		CAMPBELL, ROSS		0		146.67		146.65		3/3/2010		880		6
4135013716		HAFEMAN, AMY		0		97.78		498.66		3/15/2010		880		9
4135013726		ZEHNDER, JOYCE		0		97.78		488.88		3/16/2010		880		9
4135013733		BOLE, CHRISTOPHER		0		97.78		586.66		3/19/2010		880		9
4135013738		HARBAUGH, JANICE K.		0		97.78		488.88		3/20/2010		880		9
4135013748		MARSHALL, ANDRE		0		97.78		880		3/20/2010		880		9
4135013763		ORTH, EARL		0		146.67		880		3/22/2010		880		6
4135013768		MATTER, JAMES		0		97.78		488.88		3/22/2010		880		9
4135013770		FRYE, WAYNE		0		146.67		293.32		3/23/2010		880		6
4135013773		GONSALEZ, PAUL		0		146.67		293.32		3/23/2010		880		6
4135013808		SORENSEN, JEFFREY J.		0		146.67		337.33		3/31/2010		880		6
4135013843		ABDELKEFI, ATEF		0		97.78		488.88		4/6/2010		880		9
4135013846		FOHEY, DENNIS		0		146.67		130		4/6/2010		880		6
4135013657		ANDERSON, ELAINE		0		146.67		293.32		4/9/2010		880		6
4135013865		MITCHELL, R. DENNIS		0		97.78		684.44		4/10/2010		880		9
4135013882		PERO, GINA		0		97.78		684.44		4/12/2010		880		9
4135013885		PARKER, ROBERT		0		97.78		586.66		4/12/2010		880		9
4136013892		MARTINEZ, DANIEL		0		97.78		586.66		4/13/2010		880		9
4135013895		SWANSON, KYONG		0		146.67		439.99		4/13/2010		880		6
4135013903		HARBIN, BRIAN		0		146.67		439.99		4/16/2010		880		6
4135013908		SAVAGE, TRACY		0		146.67		438.99		4/17/2010		880		6
4135013920		THOMSON, JON		0		146.67		439.99		4/18/2010		880		6
4135013926		CHERNOFF, LAWRENCE		0		97.78		586.66		4/19/2010		880		9
4135013939		MURPHY, ROBERT		0		146.67		439.99		4/21/2010		880		6
4135013987		MANN, ROBERT M.		0		97.78		586.66		4/28/2010		880		9
4135013989		BRADSHAW, PHILLIP		0		97.78		586.66		4/29/2010		880		9
4135014003		IBARRA, ARTURO		0		97.78		687		5/2/2010		880		9
4135014039		TERVO, LISA		0		97.78		680		5/8/2010		880		9
4135014092		CORTEZ, REBECCA A.		0		146.67		586.66		5/19/2010		880		6
4135014109		LENTH, BRUCE		0		146.67		586.66		5/22/2010		880		6
4135014155		ROCHE, LILLILAN		0		97.78		684.44		6/3/2010		880		9
4135014185		KELSON, BARBARA		0		97.78		880		6/8/2010		880		9
4135014218		KELLY, WILLIAM		0		146.67		733.33		6/14/2010		880		6
4135014228		FERRERIA, MAUREEN		0		97.78		782.22		6/15/2010		880		9
4135014230		MADRIAGA, LORELEI T.		0		146.67		733.33		6/15/2010		880		6
4135014241		JACKSON, MARCIA		0		146.67		380		6/19/2010		880		6
4135014244		WEISS, MOLLY		0		146.67		733.33		6/19/2010		880		6
4135014252		LINCOLN, BRETT		0		146.67		733.33		6/20/2010		880		6
4135014279		ACKER, DEBRA		0		146.67		733.33		6/28/2010		880		6
4135014285		CARR, MIKE		0		146.67		733.33		6/28/2010		880		6
4135014304		CONGRESS, WILLIAM		0		97.78		782.22		7/3/2010		880		9
4135014309		FOUNTAIN, TIA		0		97.78		782.22		7/3/2010		880		9
4135014312		KEISER, STEVE		0		97.78		782.22		7/4/2010		880		9
4135014317		CARACANAS, CHRIS		0		146.67		733.33		7/4/2010		880		6
4135014326		CHAN, LOU		0		97.78		782.22		7/6/2010		880		9
4135014426		LIVINGOOD, DONA		0		97.78		880		7/28/2010		880		9
4135014447		PELLER, DOUGLAS		0		97.78		880		8/2/2010		880		9
4135014467		GUILLEN, RICARDO		0		97.78		880		8/7/2010		880		9
4135014471		MANRIQUEZ, OBED		0		97.78		880		8/8/2010		880		9
								41176.16

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
DEFAULT COLLECTION ACCOUNTS IN THIRD PARTY COLLECTIONS

Sale				Owner		Membership				Previous				Original				Contract				Balance
Date				Name(s)		Number				Acct No.				Loan				Number				8/26/2010
																							11012-18
	12/30/2000			Ellison, Jim		GO-E-P-00102					4130039563			$	12,150.00				39563			$	6,051.19
	4/16/2001			Summers, Paul		GO-A-P-00588					4130040611			$	17,995.00				40611			$	11,103.00
	10/27/2001			Smith, Eric		SI-A-P-01705					4130042621			$	11,695.00				42621			$	7,445.80
	12/2/2001			Weahkee, timothy		Go-E-P-00224					4130042954			$	12,145.00				42954			$	6,426.90
	6/16/2002			Donaldson, Paul		Si-A-P-02162					4130044448			$	11,695.00				44448			$	2,872.62
	11/18/2002			Gyselaar, John		Si-O-P-01637					4130045531			$	7,825.00				45531			$	2,351.66
	2/1/2003			Tomczak, Allen		Co-E-P-02211					4130046038			$	5,850.00				46038			$	3,186.67
	3/27/2003			Daniels, Richard		Si-O-P-01813					4130046486			$	7,740.00				46486			$	2,526.21
	6/6/2003			Longhurst, Jed		CO-O-P-02589					4130047045			$	5,940.00				47045			$	2,992.87
	11/22/2003			Jordan, Kenneth		Co-O-P-02752					4130048347			$	5,940.00				48347			$	2,665.28
	12/2/2003			Rustad, Yolanda		Co-E-P-02934					4130048415			$	6,295.00				48415			$	3,121.67
	3/20/2004			Lewis, Thomas		SI-A-P-03913					4130049086			$	12,595.00				49086			$	10,349.40
	5/19/2004			Davis, Juanita		SI-E-P-02557					4130049641			$	8,095.00				49641			$	5,052.00
	5/28/2004			Stafford, Sharlene		Co-E-P-03196					4130049719			$	7,195.00				49719			$	6,090.67
	7/25/2004			Edwards, Joy		Co-E-P-02403					4130050200			$	8,995.00				50200			$	5,731.85
	9/8/2004			Ortega, Christina		Si-E-P-02739					4130050606			$	8,100.00				50606			$	5,083.12
	10/3/2004			Kim, Patrick		SI-A-P-04368					4130050848			$	15,295.00				50848			$	11,102.15
	1/2/2005			Romero-Humes, Lupe		Co-O-P-03698					4130051513			$	6,165.00				51513			$	4,791.20
	5/7/2005			Lundgren Jr, Harold		CO-O-P-03824					4130052399			$	6,295.00				52399			$	5,288.33
	11/13/2005			Fleet, John		Co-E-P-04225					4130053757			$	6,295.00				53757			$	5,627.02
	11/13/2005			Wolfsohn, Francesca		Si-A-P-05130					4130053758			$	13,495.00				53758			$	11,707.69
	11/27/2005			Martin, John		Co-O-P-03932					4130053824			$	8,095.00				53824			$	6,260.99
	12/17/2005			Doss, Robert		CO-E-P-04004					4130053961			$	6,295.00				53961			$	5,203.78
	3/5/2006			Alvarez, Richard		Co-O-P-04094					4130054473			$	6,295.00				54473			$	5,005.10
	4/14/2006			Rucker, Danny		Co-E-P-04279					4130054844			$	6,295.00				54844			$	5,174.75
	4/16/2006			Dewees, Lane		Si-O-P-03663					4130054881			$	8,995.00				54881			$	7,551.31
	5/7/2006			Ramos, Raul		CO-E-P-04200					4130055081			$	6,295.00				55081			$	5,361.13
	6/9/2006			Montes, Sonia		CO-O-P-04261					4130055349			$	6,295.00				55349			$	5,612.07
	7/10/2006			Thomas, T Joe		Si-O-P-03935					4130055558			$	8,995.00				56015			$	8,748.36
	7/30/2006			Dixon, Johnny		Co-A-P-02862					4130055680			$	12,595.00				55680			$	11,574.39
	8/25/2006			Gonzaga, Robert		Co-A-P-02880					4130055848			$	9,895.00				55848			$	8,351.20
	9/2/2006			Buck, Suzanne		Co-E-P-04298					4130055878			$	6,295.00				55878			$	5,364.84
	7/20/2001			Corral, Jesus		Co-E-P-01533					4130103086			$	5,760.00				103086			$	220.23
	6/2/2002			Smith, Christopher		SI-O-P-01244					4130103264			$	8,010.00				103264			$	1,830.68
	5/14/2006			Vickers, Earl		Si-O-P-03708					4130104004			$	8,095.00				104004			$	6,554.89
	12/6/2004			Ramirez Leyva, Victor		Co-O-P-03554					4130210204			$	5,120.00				210204			$	3,152.83
	5/4/2006			Haro Murray, Manuel		Co-E-P-04165					4130210271			$	7,120.00				210271			$	4,643.19
	6/15/2006			Murrieta Gonzalez, Hevtor		Co-O-P-04236					4130210277			$	7,120.00				210277			$	6,692.41
	5/2/2000			Lopez, George		CO-O-P-00884					4130302617			$	6,295.00				302617			$	1,669.84
	5/5/2001			Young, Rosana		CO-O-P-01111					4130303229			$	3,372.50				303229			$	379.69
	1/6/2002			MacDonald, Michael		GO-A-P-00757					4130303541			$	18,251.35				303541			$	9,916.18
	7/22/2002			Valdez, Valentine		SI-O-P-01426					4130304084			$	7,645.00				304084			$	2,104.37
	7/14/2004			Tocco, Evette		SI-O-P-02708					4130305204			$	8,280.00				305204			$	5,430.74
	2/18/2005			Nattrass, Sterling		CO-E-P-03671					4130305475			$	5,940.00				305475			$	4,350.21
	9/3/2003			Chambers, Andrew		SI-O-P-02140					4130401403			$	4,395.00				401403			$	1,561.87

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
DEFAULT COLLECTION ACCOUNTS IN THIRD PARTY COLLECTIONS

Sale		Owner		Membership		Previous		Original				Contract				Balance
Date		Name(s)		Number		Acct No.		Loan				Number				8/26/2010
																11012-18
8/3/2008		Gomez, Wendy		Co-O-P-04775		4135010025		$	7,200.00				5010025			$	7,200.00
8/17/2008		Detoles, Kaifah		CA-O-00062		4135010154		$	5,310.00				5010154			$	5,156.17
9/1/2008		Engle, Teri		Co-O-P-04803		4135010276		$	7,200.00				5010276			$	7,200.00
9/11/2008		Hanna, Keri		Si-O-P-04562		4135010351		$	9,895.13				5010351			$	9,744.33
12/5/2008		Hinojos, Richard		SI-E-P-04797		4135011029		$	9,567.68				5011029			$	9,354.65
12/6/2008		Hernandez, Guillermo		Si-E-P-04813		4135011035		$	11,475.00				5011035			$	11,226.06
2/14/2009		Morningstar, Stephen		Si-A-P-06649		4135011487		$	14,036.74				5011487			$	5,075.07
3/29/2009		Stanton, Manette		IIPre6-00016		4135011717		$	880.00				5011717			$	586.66
6/20/2009		Alejandro, Leonel		IIPre6-00089		4135012314		$	880.00				5012314			$	880.00
7/7/2009		Vernarelli, Stephen		IIPre6-00103		4135012412		$	880.00				5012412			$	880.00
03/11/04		Crawford, Chad		Si-A-P-03874		4130511011		$	11,695.50				511011			$	9,201.98
4/28/2003		Eliazo, Victor		CO-A-P-01776		4130702111		$	8,995.00				702111			$	6,521.81
11/22/2005		Smith, Barry		Co-O-P-03935		4130053808		$	6,565.00				53808			$	4,446.08
5/22/2006		Adkison, James		SI-O-P-03946		A6A01727		$	8,095.00				5001389			$	7,292.04
10/9/2004		Angres, Toni		SI-O-P-02782		A4A01302		$	8,746.20				511380			$	6,693.18
6/23/2004		Arapkiles, Megan		CO-O-P-03115		A4601508		$	6,295.00				49944			$	3,749.76
9/18/2005		Arrowsmith, Tammy		SI-A-P-05016		A5A00429		$	15,745.00				103901			$	11,175.69
5/22/2005		Ashley, Barbara		Si-E-P-03160		A5600049		$	8,545.00				5000553			$	5,227.45
11/11/2007		Baker, John		CO-O-P-04505		A7B00715		$	6,290.00				5007723			$	5,819.42
9/30/2006		BLAIR, Kevin		SI-O-P-03942		A6A01818		$	8,550.00				104073			$	6,917.59
11/15/2006		Bohon, Neil		GO-A-P-02136		A6C00125		$	9,700.00				1503616			$	9,258.18
11/12/2006		BONHART, Wendolyn		CO-E-P-04377		A6B00952		$	6,295.00				56361			$	4,939.94
7/15/2007		BONNER, Brenna		SI-E-P-04440		A7701355		$	10,530.00				5006442			$	9,749.51
5/11/2008		Boyd, Linda		SA-O-00015		A8500597		$	4,100.00				5009301			$	4,174.71
1/9/2008		Brooks, Gilbert		SI-A-P-06314		A8100441		$	5,600.00				5008195			$	5,670.87
1/6/2008		Brown, Ray(cheri)		SI-A-P-06316		a8100440		$	14,805.00				5008171			$	14,760.13
11/8/2004		CHURCH, Steven		SI-A-P-04446		A4B00505		$	13,244.49				1502400			$	9,663.42
5/24/2006		Clark, Randall		CO-O-P-04190		A6700592		$	6,295.00				5001390			$	5,414.44
4/21/2007		Confer, Carol		Co-O-P-04459		A7600780		$	6,320.00				5005540			$	5,467.83
3/2/2007		Cooke, Calvin		GO-A-P-02196		A7301837		$	21,150.00				5004959			$	19,768.25
7/13/2007		Dailey, Ronald		CO-A-P-03174		A7A00869		$	8,910.00				5006411			$	8,637.43
1/18/2004		Davidson, Chris		SI-E-P-02381		A4200543		$	8,100.00				1501830			$	6,147.08
6/18/2006		Davis, Reginald		SI-O-P-03818		A6701544		$	8,095.00				5001450			$	7,412.50
6/28/2007		De Marco, Larry		SI-A-P-06039		A7700318		$	14,400.00				5006256			$	13,319.76
8/14/2005		Desaracho, Jose		Si-A-P-04940		A5801257		$	13,410.00				601089			$	9,561.50
5/4/2008		Dreher, Steven		CO-A-P-03243		A8500283		$	8,995.00				5009249			$	8,776.42
5/6/2007		Elgas, Mark		SI-A-P-05964		A7501231		$	15,295.00				5005726			$	15,301.52
7/18/2005		EVERLING, Kathryn		GO-E-P-00725		A5701297		$	14,575.50				1502742			$	11,931.73
10/14/2006		FARRIS, Christopher		CO-O-P-04397		A7100259		$	6,295.50				5001725			$	5,177.26
10/16/2004		FITZWATER, Carl		SI-E-P-02760		A4B00411		$	13,660.42				511397			$	6,539.82
7/17/2007		FLORES, Nicolas		SI-E-P-04441		A7701354		$	7,200.00				5006473			$	6,666.26
10/24/2004		FLYNN, Michael		SI-O-P-02819		A4B00241		$	8,095.00				103730			$	4,893.40
3/31/2004		Galvez, Carole		SI-E-P-02471		A4400423		$	8,995.50				511048			$	7,247.89
7/30/2006		Garcia, Juan		SI-E-P-03963		A6800231		$	8995.00				55673			$	7,549.77
12/10/2005		Garcia, Raymond		SI-A-P-05167		A5C02061		$	13,959.33				5000968			$	12,474.37
4/10/2006		Glissman, Ursula		CO-E-P-04162		A6900041		$	6,295.00				54814			$	5,571.48

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
DEFAULT COLLECTION ACCOUNTS IN THIRD PARTY COLLECTIONS

Sale		Owner		Membership		Previous		Original				Contract				Balance
Date		Name(s)		Number		Acct. No		Loan				Number				8/26/2010
																11012-18
8/1/2006		Riese, Cheri		Go-O-P-01048		4130401616		$	10,258.83				401616			$	8,639.37
2/4/2004		Ware, Christopher		Si-E-P-02382		4130510936		$	8,156.96				510936			$	6,231.06
10/31/2004		Medrano, Icela		CO-O-P-03495		4130600830		$	6,930.00				600830			$	4,546.46
5/20/2005		Hernandez, Guillermo		CO-E-P-03873		4130600949		$	5,520.00				600949			$	3,451.01
7/2/2005		Medina, Armando		Co-A-P-02675		4130601022		$	10,260.00				601022			$	6,428.12
7/19/2005		Gracia Noriega, Jose Edgardo		Co-E-P-03802		4130601047		$	6,000.00				601047			$	3,572.62
5/31/2006		Apodaca, Jesus		Si-O-P-03750		4130601355		$	8,910.00				601355			$	6,850.27
6/13/2006		Esparza, Humberto		Si-A-P-05490		4130601368		$	13,320.00				601368			$	11,719.22
7/11/2006		Oliva Ramos, Francisco		Co-O-P-04220		4130601417		$	5,320.00				601417			$	4,414.74
7/15/2006		Alvarez Lugo, Carlos R		Si-A-P-05541		4130601422		$	11,920.00				601422			$	9,228.88
7/15/2006		Galan Martinez, Juan		Co-A-P-02863		4130601423		$	7,220.00				601423			$	1,101.18
8/24/2006		Valesco, Nefi		Si-O-P-03999		4130601477		$	8,080.00				601477			$	7,080.06
8/25/2008		Banuelos, Armando		Si-O-P-04022		4130601479		$	8,415.00				601479			$	7,567.76
8/26/2006		Almirudis, Samuel		Si-O-P-03891		4130601482		$	8,250.51				601482			$	7,330.41
10/28/2006		Tirado Sanchez, Jesus		CO-A-P-02944		4130601540		$	8,720.00				601540			$	7,404.19
8/26/2006		Hawker, Nancy		Co-O-P-01906		4130700799		$	6,295.00				700799			$	1,193.35
11/1/2002		Hulbert, Peter		Si-A-P-02540		4130701124		$	12,595.00				701124			$	6,959.22
11/13/2002		Gascon, Karen		CO-O-P-02112		4130701170		$	6,295.00				701170			$	2,107.37
2/23/2003		Rosado, Augusto		Si-A-P-03346		4130701671		$	13,495.00				701671			$	10,161.92
3/26/2003		Mauch, Lydia		Si-A-P-02892		4130701895		$	12,595.00				701895			$	8,424.93
6/8/2003		Olvera, Alejandro		Co-E-P-02821		4130702405		$	6,095.00				702405			$	2,998.08
7/8/2003		Howard, Stephen		Si-E-P-01979		4130702649		$	8,095.00				702649			$	4,870.30
8/4/2003		McGinty, Maribeth		CO-E-P-02873		4130702838		$	6,745.00				702838			$	4,462.88
9/3/2003		Dauglash, Richard		CO-A-P-01968		4130703018		$	8,995.00				703018			$	6,956.34
3/7/2004		Martel, Lori Ann		Co-A-P-02187		4130703470		$	8,995.00				703470			$	6,714.70
3/10/2004		Diggs, William		Co-E-P-03089		4130703482		$	6,295.00				703482			$	3,817.44
6/17/2004		Coleman, Lori		Co-O-P-03422		4130703742		$	6,295.00				703742			$	4,041.63
8/3/2004		Auker, Gerald		Co-O-P-03356		4130703928		$	6,745.00				703928			$	5,056.62
2/19/2005		Robinson, Mechelle		SI-E-P-02937		4130704335		$	8,739.00				704335			$	7,796.80
4/20/2005		Krajewsk, David		Co-E-P-03655		4130704457		$	6,043.50				704457			$	4,278.84
6/6/2005		Gusman, Joe		SI-E-P-03193		4130704517		$	9,630.00				704517			$	8,351.74
12/14/2003		Harris, Sally		GO-A-P-01449		4131501760		$	19,015.24				1501760			$	13,845.84
2/21/2006		Montoya, Paul		Go-E-P-00813		4131503135		$	15,564.82				1503135			$	13,806.66
4/29/2005		Lowe, Lawrence		Si-A-P-04721		4135000487		$	12,325.50				5000487			$	10,295.05
5/17/2005		Leon, Alice		SI-E-P-03154		4135000536		$	9,450.00				5000536			$	7,734.99
8/20/2005		Karns, Roger		Si-E-P-03487		4135000722		$	3,200.00				5000722			$	1,615.84
11/27/2005		Negrete, Miguel		SI-E-P-03635		4135000946		$	8,995.00				5000946			$	7,739.18
12/21/2005		Aguilar, Jesus		Si-O-P-03449		4135000988		$	4,200.00				5000988			$	3,269.62
1/18/2006		Points, phillip		Go-A-P-01949		4135001038		$	22,810.50				5001038			$	21,965.19
10/7/2006		Cabana, Jr, Alfredo		Si-O-P-04105		4135001701		$	8,450.00				5001701			$	7,466.54
11/11/2006		Dorsa, Anna		CO-A-P-02979		4135001768		$	9,445.00				5001768			$	8,659.91
12/9/2006		Garcia, Mariah		Co-E-P-04453		4135001799		$	6,295.00				5001799			$	5,870.67
1/2/2007		Beem-Garcia, Regan		Si-E-P-04129		4135004320		$	8,995.00				56469			$	7,879.72
2/10/2007		Jackson, Linda		SI-E-P-04385		4135004731		$	9,895.00				5004731			$	9,345.12
3/17/2009		Mata, Luis		CO-O-P-04436		4135005110		$	6,210.00				5005110			$	5,362.55

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
DEFAULT COLLECTION ACCOUNTS IN THIRD PARTY COLLECTIONS

																		Balance
Sale				Owner		Membeship		Previous		Original				Contract				8/26/2010
Date				Name(s)		Number		Acct No.		Loan				Number				11012-18
	8/16/2007			Gonzales, Juan		GO-E-P-01079		A7801204		$	9,195.00				5006764			$	8,785.85
	12/18/2005			GONZALES, Raymond		CO-A-P-02750		A5C01107		$	12,595.00				53965			$	9,075.37
	3/20/2006			Gray, Delores		SI-A-P-05326		A6400584		$	12,595.00				5001186			$	11,552.64
	10/21/2006			Greene Sr., Khrisna O.		GO-E-P-00939		A6B00468		$	14,793.27				5001734			$	14,650.99
	12/15/2007			Hama, Scott		SI-O-P-04322		A7C01647		$	9,445.50				5008029			$	9,782.60
	9/24/2006			HUBER, Richard		SI-A-P-05648		A6A00225		$	17,095.00				56005			$	13,818.19
	7/28/2007			Jaimez, Jose		Si-A-P-06093		A7800693		$	9,329.08				5006583			$	9,372.41
	2/2/2008			Johnson, Gloria		Co-E-P-04787		A8200565		$	7,195.00				5008403			$	6,680.98
	2/11/2007			Kearney, David		CO-E-P-04442		A7200809		$	6,295.00				5004746			$	5,669.01
	7/14/2007			Keuscher, John		SI-A-P-06061		A7701357		$	14,125.50				5006415			$	14,563.46
	2/28/2008			KLINE, Steve		GO-O-P-01277		A8300459		$	13,885.41				5008615			$	14,188.28
	3/10/2008			Kohler, Albert		Si-A-P-06385		A8300507		$	14,395.00				5008731			$	14,007.33
	4/9/2006			Lazin, Charles		Si-O-P-03636		A6400731		$	8,995.00				103989			$	4,152.74
	6/5/2005			Lenahan, Caryl		GO-O-P-00856		A5601053		$	12,676.64				103838			$	8,360.70
	3/18/2008			LEWIS, Mark		SI-O-P-04415		A8300914		$	10,795.00				5008811			$	9,818.45
	5/13/2005			Lindgreen, Coleen		SI-E-P-03138		A5501245		$	7,296.07				5000518			$	4,126.93
	12/17/2005			Llagas, Beda		SI-A-P-05199		A6100825		$	13,495.00				5000977			$	11,471.75
	7/7/2007			Loring, Eric		CO-A-P-03122		A7700702		$	9,395.00				5006360			$	9,068.60
	3/8/2008			Lutrell, Jan		Si-E-P-04672		A8300698		$	10,002.73				5008697			$	8,743.76
	2/14/2005			Maldonado, Chris		CO-E-P-03480		A5200562		$	6,295.00				103776			$	3,718.13
	1/29/2007			Manzanares, Stephen		Co-E-P-04500		A7500779		$	6,295.00				5004616			$	4,968.30
	7/9/2005			Mason, George		Co-E-P-03765		A5700572		$	6,745.00				5000654			$	4,056.30
	9/4/2004			Mason, Thomas		GO-O-P-00717		A4900508		$	14,670.00				50557			$	13,011.78
	3/8/2005			Meade, Delores		GO-O-P-00807		A5300423		$	13,357.28				103792			$	9,666.87
	12/17/2006			Mejia, Mark		Si-E-P-04287		A7400544		$	9,895.00				5004164			$	9,859.50
	6/22/2006			Mitchell, Charles		Go-A-P-02050		A6700347		$	21,595.00				55433			$	21,094.06
	8/20/2006			Monserat, Melissa		CO-A-P-02876		A6801910		$	11,695.00				5001600			$	9,605.51
	1/16/2005			Moore, David		CO-O-P-03637		A5100702		$	6,660.00				5000190			$	4,510.43
	1/5/2004			Mortensen, Deborah		SI-A-P-03708		A4100550		$	11,609.24				600468			$	7,473.90
	4/3/2003			MYERS, David		GO-A-P-01219		A3400622		$	18,948.67				304598			$	10,908.83
	9/16/2006			Nasewytewa, Jennifer		Co-O-P-04366		A6B01337		$	7,110.00				601499			$	5,675.53
	4/23/2005			Nash, Shirley		Si-E-P-03084		A5500114		$	9,450.00				5000466			$	6,698.70
	3/13/2005			OCHOA, Roland		CO-E-P-03543		A5300468		$	5,845.00				51965			$	3,212.28
	10/16/2006			OLSON, Gail		CO-O-P-04382		A6C00812		$	6,210.00				5001720			$	4,821.55
	4/10/2004			Orona, Debra		Go-A-P-01557		A4400711		$	21,235.50				1502058			$	16,104.37
	1/8/2007			OSHEA, Susie		SI-O-P-04069		A7100706		$	6,195.00				5004376			$	4,977.37
	4/2/2007			Pacheco, Martin		Si-E-P-04293		A7400435		$	8,545.50				5005334			$	8,549.32
	5/24/2008			PADILLA, Isidro		SI-A-P-06456		A8600194		$	5,500.00				5009399			$	5,507.58
	12/3/2006			Palma, J Douglas		CO-A-P-02968		A6C00302		$	8,995.00				104101			$	7,692.02
	8/26/2006			Pollack, Loretta		Si-O-P-03995		A6B00091		$	8,730.00				5001614			$	7,783.10
	11/2/2006			Rau, Michelle		SI-O-P-04006		A6B00563		$	8,995.00				56290			$	8,806.86
	6/7/2003			Russell, Susan		PL-E-P-00026		A3600349		$	16,645.50				510529			$	12,842.37
	5/22/2005			Sablan, Alfred		PI-O-P-00087		A5600145		$	21,408.72				5000552			$	17,683.81
	8/28/2005			Samano, Jose		CO-O-P-03913		A5B00548		$	6,295.00				53200			$	4,497.01
	1/20/2007			Sanders, Vanessa		Si-O-P-04068		A7100888		$	9,445.00				5004504			$	7,580.71
	11/11/2003			Sarram, Sean		CO-E-P-02919		A3C00184		$	5,800.00				48278			$	2,229.58

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
DEFAULT COLLECTION ACCOUNTS IN THIRD PARTY COLLECTIONS

						Membership				Previous				Original				Contract				Balance
Sale Date				Owner Name(s)		Number				Acct No.				Loan				Number				8/26/2010
																							11012-18
	3/24/2007			McAbee, Kim		Co-E-P-04464					4135005205			$	8,095.00				5005205			$	7,357.44
	3/31/2007			Robbins, Christopher		CO-A-P-03028					4135005290			$	8,995.00				5005290			$	7,923.16
	4/10/2007			Prieto, Eugene		Co-E-P-04478					4135005414			$	8,095.00				5005414			$	7,635.40
	4/14/2007			Burrell, Felicia		SI-O-P-04164					4135005465			$	9,895.00				5005465			$	9,833.57
	4/28/2007			Blankenship, Edward		Si-E-P-04481					4135005623			$	9,895.00				5005623			$	9,872.44
	4/29/2007			Vargas, Robert		CO-E-P-04506					4135005643			$	8,095.00				5005643			$	7,047.16
	5/6/2007			Jensen, Fabian		Si-E-P-04358					4135005724			$	9,895.00				5005724			$	9,007.23
	5/27/2007			Simonsen, Lawrence		Go-A-P-02266					4135005927			$	13,277.09				5005927			$	13,043.14
	5/28/2007			Sevilla Perez, Guadelupe		CO-E-P-04528					4135005946			$	6,320.00				5005946			$	6,040.39
	6/16/2007			Moore, Shannon		SI-E-P-04405					4135006127			$	9,360.00				5006127			$	8,983.90
	6/17/2007			Vega Aldecoa, Ruben		CO-A-P-03099					4135006150			$	9,120.00				5006150			$	8,424.10
	6/24/2007			Fimbres, Paul		Si-A-P-06041					4135006222			$	6,166.16				5006222			$	6,166.16
	6/26/2007			Stocker, Troy		SI-O-P-04192					4135006242			$	3,200.00				5006242			$	1,326.65
	7/2/2007			Markham, Gene		Co-E-P-04566					4135006312			$	6,320.00				5006312			$	4,545.69
	7/4/2007			Biggers, Donna		Go-A-P-02300					4135006333			$	13,470.00				5006333			$	9,165.00
	7/16/2007			Vasquez, Anthony		CO-E-P-04731					4135006459			$	6,295.00				5006459			$	6,218.35
	7/25/2007			Lopez, Jorge		CO-E-P-04637					4135006565			$	6,320.00				5006565			$	6,044.57
	8/27/2007			Perez, Antonio		SI-A-P-06126					4135006888			$	15,520.00				5006888			$	14,820.54
	8/28/2007			Gonzalez, Freddy		Co-E-P-04769					4135006900			$	6,545.00				5006900			$	6,222.81
	9/1/2007			Garcia, Michael		Co-E-P-04634					4135006933			$	8,095.00				5006933			$	8,023.63
	9/14/2007			Mueller, Nathan		Co-E-P-04770					4135007076			$	6,715.00				5007076			$	6,491.89
	9/20/2007			Leonetti, Mary Jane		Go-A-P-02382					4135007146			$	13,840.59				5007146			$	13,840.59
	9/22/2007			Cheramie, Matthew		Si-A-P-06159					4135007172			$	7,647.50				5007172			$	7,647.50
	10/20/2007			Espinoza, Francisco		Co-O-P-04527					4135007468			$	7,100.00				5007468			$	6,946.25
	10/27/2008			Basil, James		Co-E-P-04693					4135007557			$	3,495.00				5007557			$	3,495.00
	11/8/2007			Smith, Linda		Si-A-P-06241					4135007691			$	9,900.00				5007691			$	9,350.00
	1/3/2008			Escarceda, Oscar		Co-O-P-04749					4135008148			$	7,195.00				5008148			$	7,195.00
	1/15/2008			Ornelas, Luz Marcela		Co-O-P-04536					4135008251			$	6,320.00				5008251			$	5,633.47
	3/18/2008			Henderson, Kimberly		CO-O-P-04626					4135008803			$	7,195.50				5008803			$	6,454.86
	3/24/2008			Miller, Gregory		Co-O-P-04733					4135008898			$	7,890.00				5008898			$	5,928.32
	3/30/2008			Kreider, Cheryl		Preview6-00539					4135008912			$	700.00				5008912			$	349.99
	4/6/2008			Williams, Mitchell		Co-A-P-03252					4135008969			$	8,995.00				5008969			$	8,955.64
	4/6/2008			Maxie, Leigh		Si-E-P-04732					4135008982			$	10,795.00				5008982			$	10,208.10
	4/16/2008			Kimbrel, Alva		Co-O-P-04869					4135009077			$	6,295.00				5009077			$	6,295.00
	4/26/2008			Antunez, Martha		Si-A-P-06514					4135009156			$	13,136.36				5009156			$	13,136.36
	4/26/2008			Harves, Chrystyl		Co-O-P-04698					4135009163			$	7,110.00				5009163			$	6,888.65
	5/8/2008			Belser, Stephen		Preview6-00579					4135009282			$	700.00				5009282			$	466.66
	5/13/2008			Jenkins, Michael		Co-O-P-04780					4135009318			$	6,295.00				5009318			$	6,217.09
	6/8/2008			Ahumada, Lupe		CO-O-P-04804					4135009528			$	6,295.00				5009528			$	6,165.96
	6/14/2008			Martinez, Cynthia		CA-O-00067					4135009580			$	5,300.00				5009580			$	5,300.00
	6/15/2008			Womack, Cahdwick		Si-A-P-06603					4135009588			$	15,295.50				5009588			$	15,295.50
	6/16/2008			Valladeres, Julio		Preview6-00584					4135009606			$	700.00				5009606			$	595.00
	6/22/2008			Aleman, Lydia		SA-O-00030					4135009653			$	7,650.00				5009653			$	7,650.00
	7/11/2008			Nelson, Shawn		SI-E-P-04735					4135009803			$	3,700.00				5009803			$	3,579.01
	7/30/2008			Vallin, Elliott		Co-A-P-03288					4135009994			$	8,910.00				5009994			$	8,910.00

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
DEFAULT COLLECTION ACCOUNTS IN THIRD PARTY COLLECTIONS

																Balance
Sale		Owner		Membership		Previous		Original				Contract				8/26/2010
Date		Name(s)		Number		Acct No.		Loan				Number				11012-18
5/9/2007		Sauders, John		Co-E-P-04510		A7501403		$	6,210.00				5005760			$	4,335.95
6/16/06000		Schertz, Jerry		CO-O-P-04188		A6700207		$	6,295.00				104021			$	5,365.70
9/30/2007		Sunderman, Colleen		SI-A-P-06170		A7A00561		$	15,975.00				5007248			$	15,651.70
9/7/2006		Taylor, Mary Ann		Si-A-P-05632		A6900913		$	14,395.00				55913			$	7,698.36
5/30/2004		VIERRA, Fred		SI-O-P-02496		A4600257		$	8,995.00				49751			$	4,243.03
8/16/2004		Williams, Johnnie		PI-A-P-00249		A4801097		$	27,900.00				50415			$	12,861.51
7/13/2003		WILLIAMSON, Charles		SI-A-P-03241		A3800009		$	13,051.33				510601			$	7,134.46
3/29/2005		Wilson, John		SI-E-P-03038		A5400344		$	8,000.00				52091			$	5,283.54
2/26/2006		Winston, Tamika		CO-E-P-04081		A6302379		$	6,745.00				5001134			$	6,015.18
8/13/2002		Aguinga, Gabriel		SI-E-P-01448		A2801959		$	4,000.00				103300			$	603.15
4/17/2004		Ballance, Edward K.		SI-O-P-02406		A4500058		$	7,925.84				511074			$	4,706.59
3/9/2008		BARRERAS, Tim		CA-O-00009		A8300685		$	5,400.00				5008709			$	5,051.77
6/30/2005		Barreto, Camelina		SI-E-P-03246		A5700285		$	8,095.00				52776			$	6,036.31
6/2/2004		Bartlett, Robert		GO-E-P-00509		A4600265		$	7,400.00				1502147			$	4,549.27
5/27/2005		Batista, Ray		SI-O-P-03177		A5700261		$	8,095.00				52543			$	6,134.01
4/24/2006		BROWN, Prencess		CO-O-P-04105		A6500076		$	7,195.00				54975			$	5,276.40
12/31/2007		Bufkin, Marenda		CO-O-P-04526		A8100254		$	7,195.50				5008143			$	7,390.33
5/15/2008		Burns, Sheli		CO-E-P-03665		A5501227		$	6,295.00				52464			$	4,673.70
4/7/2006		Burwell, Dawn		SI-O-P-03634		A6400753		$	8,095.00				5001237			$	845.48
7/13/2002		Byrd, Richard		GO-A-P-00935		A2701553		$	17,550.00				44642			$	8,742.72
9/5/2005		Carpenter, James Mark		SI-E-P-03454		A5900678		$	8,995.00				5000758			$	7,078.22
5/4/2003		Entzminger, Trevor		SI-E-P-01885		A3600079		$	7,645.00				103454			$	4,077.42
5/2/2004		Gesberg, Mike		CO-A-P-02267		A4500214		$	8,995.00				49489			$	4,008.02
2/11/2007		Hanley, Larry		SI-A-P-05850		A7200732		$	11,500.00				5004760			$	10,859.00
7/11/2005		Hernandez, Francisco		SI-E-P-03298		A5701252		$	8,995.00				5000664			$	5,978.72
2/9/2002		Holyoak, Chad		CO-O-P-01340		A2201035		$	5,940.00				43464			$	371.64
12/9/2005		Hommel, Peter K.		SI-O-P-03427		A5C01062		$	8,579.75				1503027			$	8,283.18
4/20/2002		Johns, Robert		SI-A-P-02022		A2501386		$	12,088.56				303821			$	2,039.39
4/8/2008		Lewis, Harold		SI-A-P-06410		A8400712		$	11,859.32				5009000			$	12,299.73
9/6/2005		Looney, Timothy		Si-E-P-03465		A5900942		$	8,095.00				53269			$	6,123.44
5/2/2004		Lunceford, Michael		Si-E-P-02525		A4500779		$	6,361.07				511106			$	3,122.79
2/23/2003		Maciuszek, Roy		CO-E-P-02266		A3300634		$	5,845.00				46233			$	2,862.28
6/18/2005		Martinez, Hector		Si-E-P-03227		A5700246		$	8,820.00				600997			$	6,381.39
7/30/2006		McGee David		CO-O-P-04242		A6800229		$	6,295.00				55672			$	5,284.09
3/14/2004		McGowan, Miriam		CO-E-P-03150		A4400604		$	5,845.50				49041			$	3,497.93
2/25/2002		Mifflin, Randy		CO-E-P-01829		A2400006		$	6,295.00				303672			$	1,382.99
5/21/2007		Morrison, Elizabeth		SI-A-P-06038		A7700319		$	14,395.00				5005876			$	14,759.84
7/27/2006		Odell, Frank		CO-O-P-04063		A6400581		$	6,295.00				5001209			$	4,374.62
8/21/2002		Plett, Anthony		CO-E-P-02004		A2900819		$	7,552.91				304170			$	840.94
3/29/2006		Poirier, Laura		SI-A-P-05317		A6400300		$	16,195.00				54682			$	15,456.82
6/9/2003		Sadlier, Carl		Si-O-P-01933		A3600341		$	8,440.73				510534			$	1,707.51
2/9/2003		Scheibelhut, James		SI-A-P-02788		A3200946		$	6,099.12				401215			$	1,180.39
2/26/2006		Sherlock, Eileen		PL-O-P-00116		A6304273		$	18,895.00				54402			$	16,832.46
12/30/2000		Smith, Norman		GO-A-P-00514		A1010290		$	17,095.00				39561			$	6,441.23
10/13/2002		Smith, Ray		Co-E-P-02058		A2A01228		$	5,940.00				45272			$	1,188.12
10/14/2006		Spraggins, Charles		CO-A-P-02928		A6A02194		$	9,895.00				56159			$	9,558.99

PREMIERE, DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
DEFAULT COLLECTION ACCOUNTS IN THIRD PARTY COLLECTIONS

																		Balance
Sale				Owner		Membership		Previous		Original				Contract				8/26/2010
Date				Name(s)		Number		Acct No.		Loan				Number				11012-18
	2/27/2006			Sutherland, Frank		CO-E-P-04415		A7100270		$	5,245.00				5004245			$	3,301.96
	6/13/2004			Taylor, Anthony S.		GO-A-P-01617		A4600470		$	24,295.00				49867			$	15,943.34
	10/14/2006			Vanravensway, Jessica		Si-O-P-03970		A6A02196		$	9,895.00				56157			$	7,643.97
	5/29/2007			Ware, Jeanie		GO-E-P-01056		A7600779		$	15,295.00				5005954			$	14,195.58
	5/23/2008			Watkins, Michele		CO-A-P-03250		A8500852		$	11,695.00				5009391			$	12,179.62
	6/1/2002			Williams, Gary		SI-O-P-01256		A2600924		$	8,095.00				44327			$	1,312.85
	1/29/2007			WILSON, Eugenie		GO-E-P-01005		A7200332		$	11,830.00				5004609			$	2,243.93
	11/18/2007			Almada, Anthony		Co-A-P-03198		4135007802		$	5,995.00				5007802			$	4,895.00
	8/10/2008			Anzaldua, Michael		CA-A-00006		4135010112		$	7,200.00				5010112			$	7,036.92
	8/12/2008			Ayon, Silpa		Co-O-P-04879		4135010122		$	6,295.00				5010122			$	6,256.96
	2/10/2008			Bagley, J Ruhiyih		Co-E-P-04795		4135008453		$	7,470.00				5008453			$	4,896.82
	6/1/2008			Baldwin, Richard		Co-O-P-04899		4135009483		$	7,195.00				5009483			$	7,166.52
	2/18/2003			Bast, Ralph		Si-A-P-02840		4130304493		$	13,225.00				304493			$	8,014.60
	7/1/2008			Bouttirath, Amphone		Co-A-P-03289		4135009738		$	9,895.00				5009738			$	9,351.99
	10/12/2008			Carter, Shirley		CA-O-00102		4135010602		$	5,310.00				5010602			$	5,266.78
	7/22/2008			Chee, Benjamin		SA-O-00034		4135009920		$	7,650.00				5009920			$	7,410.89
	6/30/2008			Coleman, George		Si-O-P-04535		4135009727		$	10,800.00				5009727			$	10,416.86
	7/19/2008			Corrales, Yolanda		CA-O-00054		4135009888		$	5,580.00				5009888			$	5,418.83
	1/7/2007			Drew, Quincy		Co-E-P-04431		4135004359		$	6,295.00				5004359			$	5,192.67
	5/5/2008			Entwisle, Marcella		Co-O-P-04700		4135009261		$	6,295.00				5009261			$	6,006.80
	3/7/2002			Farias, Jose		Co-O-P-01834		4130700142		$	5,940.00				700142			$	1,122.93
	4/12/2008			Feldkamp, Melanie		Co-O-P-04847		4135009030		$	7,195.00				5009030			$	7,195.00
	4/4/2008			Garcia, Alejandra		Co-O-P-04826		4135008958		$	6,295.00				5008958			$	6,179.16
	7/23/2008			Garcia, Armando		Co-O-P-04799		4135009921		$	6,210.00				5009921			$	6,056.31
	9/7/2008			Grissom, Rocky		Preview6-00633		4135010324		$	700.00				5010324			$	700.00
	5/18/2008			Guerrero, Daaniel		Ca-O-00101		4135009344		$	5,400.00				5009344			$	5,334.25
	12/21/2008			Gullett, Keith		Preview6-00719		4135011133		$	880.00				5011133			$	880.00
	1/11/2008			Haghighi, Michllei		Co-O-P-04532		4135008203		$	3,997.50				5008203			$	3,997.50
	1/23/2008			Higuera, Stephanie		Co-O-P-04792		4135008337		$	7,195.00				5008337			$	7,038.85
	12/10/2007			Kaczkowski, Martin		Co-E-P-04751		4135007986		$	3,950.00				5007986			$	3,950.00
	8/13/2007			Larmer, Gary		Si-A-P-06282		4135006739		$	15,065.00				5006739			$	13,845.15
	4/10/2004			Logan, Mitchell		Go-O-P-00645		4130049279		$	15,295.00				49279			$	12,703.77
	1/26/2008			Malla, Christian		Preview6-00496		4135008355		$	700.00				5008355			$	377.34
	2/5/2008			Moreno, Francisco		Co-A-P-03226		4135008422		$	5,450.00				5008422			$	5,450.00
	8/30/2003			Nez, Marlin		Si-O-P-02075		4130510672		$	8,239.37				510672			$	5,117.30
	8/16/2008			Parra, Pedro		Si-O-P-04547		4135010146		$	9,440.00				5010146			$	9,351.64
	8/11/2007			Pesqueira, Fernado		Co-E-P-04710		4135006723		$	6,295.00				5006723			$	5,736.18
	11/5/2007			Probart, timothy		Si-E-P-04586		4135007660		$	5,497.50				5007660			$	5,497.50
	3/5/2008			Rosetta, Jeremy		CA-O-00014		4135008665		$	5,395.00				5008665			$	5,120.08
	11/15/2008			Ruthem, Stephanie		Co-A-P-03333		4135010867		$	9,795.00				5010867			$	9,795.00
	5/31/2006			Salcido, Francisco		Co-A-P-02902		4130601354		$	7,520.00				601354			$	6,987.86
	8/11/2008			Samuel, William		Si-O-P-04604		4135010117		$	9,450.00				5010117			$	9,276.10
	9/27/2005			Sanchez, Carlos		Co-E-P-04012		4130601141		$	6,320.01				601141			$	4,882.37
	11/18/2007			Sandoval, Frank		Co-A-P-03218		4135007800		$	8,995.00				5007800			$	8,581.92
				Sherer, Gary		CO-E-P-00192									35133			$	3,054.98

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
DEFAULT COLLECTION ACCOUNTS IN THIRD PARTY COLLECTIONS

																						Balance
Sale				Owner		Membership				Previous				Original				Contract				8/26/2010
Date				Name(s)		Number				Acct No.				Loan				Number				11012-18
	8/5/2008			Simpson, Steve		Si-O-P-04543					4135010050			$	9,900.00				5010050			$	9,470.60
	4/27/2002			Skinner, Shane		Si-E-P-01416					4130303838			$	8,095.50				303838			$	1,174.18
	4/27/2008			Slim, Art		Co-O-P-04882					4135009168			$	7,290.00				5009168			$	7,290.00
	10/18/2008			Smith, Edward		Si-O-P-04606					4135010658			$	9,450.00				5010658			$	9,450.00
	6/18/2008			Soliz, Dora		Co-A-P-03299					4135009623			$	8,995.00				5009623			$	8,772.65
	6/3/2006			Spargo, Debra		Co-O-P-04178					4130305917			$	6,210.00				305917			$	4,658.61
	7/27/2002			Tobias, Grant		Si-A-P-02266					4130304091			$	13,224.33				304091			$	8,671.35
	4/13/2008			Turner, Jeon		Co-O-P-04806					4135009036			$	6,300.00				5009036			$	6,194.02
	4/27/2008			William, Leonard		Co-O-P-04696					4135009179			$	7,195.50				5009179			$	6,803.83
											108											$	2,278,902.76

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLES
PENDING RECEIVABLES

DSR		OWNER								Purchase				Down				Balance
Date		Name(s)		Contract				Lender		Price				Payment				8/26/2010
																		11001-18
05/21/10		Aguirre, Olivia A.			5014070			Concord											10,795.00
08/01/10		Book, Patricia			5014444			Concord			8,700.00				0.00				(23.92	)
08/10/10		Boone, Carol			5014481			Concord			11,700.00				5,750.00				5,950.00
07/31/10		Boyd, Mark			5014437			Concord											(40.86	)
07/08/10		Bradley, Robin			5014336			Concord											(95.22	)
08/13/10		Carver, Jeffrey			5014491			Concord			5,250.00				0.00				5,250.00
03/21/10		Constantion, Miguel			5013750			Concord											(60.61	)
07/18/10		Cox, Michael			5014380			Concord											(206.83	)
08/11/10		Darling, Richard			5014483			Concord			11,955.00				1,200.00				10,795.00
06/10/10		Davis, Geraldine			5014189			Concord											(446.90	)
07/03/10		Delgado, Jose			5014305			Concord											(107.31	)
07/09/10		Dow, Larry			5014342			Concord											(177.10	)
04/11/10		Eikanger, Herb			5013878			Concord-2											(880.00	)
02/18/10		Esparza, Dominic			5013609			Concord											(70.37	)
04/30/10		Fallon, Joey			5013993			Concord											(24.31	)
05/31/10		Fehliman, Bert F.			5014144			Concord											(115.10	)
08/09/10		Geissel, Raymond			5014472			Concord-2			8,200.00				0.00				8,200.00
06/13/10		Gutierrez, Deliliah			5014211			Concord											10.57
06/05/10		Hamann, Larry			5014162			Concord											(62.31	)
05/13/10		Hemandez, Phillip			5014062			Concord											(137.01	)
05/19/10		Hurtt, Philip			5014090			Concord											(113.40	)
08/09/10		Jefferson, Barbara			5014475			Concord-2			8,200.00				0.00				8,200.00
08/10/10		Larson, Raymond			5014479			Concord-2			8,200.00				0.00				8,200.00
06/30/10		Lisitzky, Zandra			5014288			Concord											(111.12	)
07/26/10		Lopez, Miguel			5014356			Concord											(309.94	)
08/12/10		Magaw, John			5014489			Concord-2			8,200.00				0.00				8,200.00
06/08/10		Mancilla, Jaime			5014181			Concord											(179.87	)
07/12/10		McNeese,George			5014360			Concord											(97.92	)
07/09/10		Michael, Heather			5014337			Concord											(53.80	)
06/01/10		Michel, Lynn			5014149			Concord											(61.68	)
07/16/10		Nash, Joseph			5014376			Concord											(40.87	)
07/25/10		Newton, Michael			5014412			Concord											(112.09	)
07/11/10		Pagnotta, Jason			5014352			Concord											(22.02	)
08/08/10		Patino, Toni			5014470			Concord			6,200.00				620.00				5,580.00
07/10/10		Paulley, Raymond			5014344			Concord											(184.10	)
04/16/10		Pei, Marissa			5013901			Concord											(49.27	)
08/08/10		Pugh, Edward			5014469			Concord-2			7,500.00				3,750.00				3,750.00
06/13/10		Ramirez, Enrique			5014210			Concord											(135.87	)
		Romo, Patricia			305650														4,436.22
06/20/10		Ruiz, Jimmy			5014250			Concord											(129.82	)
05/01/10		Russell, William C.			5013996			Concord											(18.12	)
08/01/10		Ryan, Scott			5014445			Concord			5,675.00				0.00				5,675.00
05/11/10		Schuman, Steve A.			5014052			Concord											(47.17	)
06/05/10		Sisk, Bruce			5014166			Concord											(111.87	)
07/31/10		Smith, Jamey			5014440			Concord											5,200.00
05/08/10		Stephens, Marian			5014034			Concord											(249.94	)
07/04/10		Tadeo, Paul			5014310			Concord											(4,785.66	)
05/03/10		Thompson, George W.			5014011			Concord											(57.28	)
08/12/10		Urich, Stanley			5014488			Concord			1,175.00				295.00				880.00
08/13/10		Valenzuela, Armando V.			5014377			Concord			6,995.00				700.00				6,295.00
08/13/10		Vargas, Mark			5014492			Concord			3,750.00				0.00				3,750.00
06/04/10		Vazquez, Griselda			5014161			Concord											(62.20	)
02/25/10		Vela, John H.			5013578			Concord											(155.02	)
07/29/10		Vivar, Jeannie			5014430			Concord											3,706.00
02/13/10		V’Marie, Joy			5013583			Concord											41.59
06/08/10		Walker, Kristie			5014182			Concord											(65.31	)
08/11/10		Williams, Jeffrey			5014289			Concord			6,900.00				690.00				6,210.00
06/13/10		Williams, Robert			5014207			Concord											13.86
08/04/10		Williams, Sharon			5014456			Concord			3,500.00				0.00				(8,388.08	)
08/07/10		Wilson, Robert			5014465			Concord			3,500.00				0.00				3,500.00
06/07/10		Zimmer, Michael			5014179			Concord											(91.55	)
																			96,556.42

PREMIERE DEVELOPMENT INCORPORATED
IN-HOUSE INACTIVE DEFAULT ACCOUNTS

		Owner		Membership		Previous				Original								Interest								Monthly				Balance 8/26
Date		Name(s)		Number		Acct No.				Loan				Contract				Rate				Term				Payment				11039-18
6/29/2003		Schoenborn, Michael		Co-O-P-02628			4130047234			$	5,940.00				47234				17.9				84			$	124.50			$	2,938.14
8/22/2005		Sieck, Harold		GO-E-P-00750			4130053157			$	15,295.00				53157				17.9				120			$	274.61			$	13,749.86
4/22/2006		Purper, Brad		CO-E-P-04148			4130054930			$	6,750.00				54930				17.9				84			$	141.48			$	5,843.99
6/28/2006		Melara, Oscar		Si-E-P-03984			4130055471			$	8,095.00				55471				17.9				84			$	169.67			$	7,219.26
10/10/2004		Fike, Michael		CO-O-P-03552			4130103718			$	6,295.00																			$	4,437.80
9/17/2004		Shafer, Larry		PL-A-P-00252			4130511352			$	23,044.30				511352				16.9				120			$	399.05			$	19,196.12
3/21/2004		Wilder, Michael		Co-E-P-03112			4130703503			$	6,295.00				703503				17.9				84			$	131.94			$	3,550.24
2/13/2006		Sheppard, Gary		Si-A-P-05248			4135001107			$	12,595.00				5001107				17.9	%			84			$	263.99			$	9,858.34
6/18/2006		Turner, Kenneth		SI-A-P-05484			4135001449			$	12,595.00				5001449				17.9				84			$	263.99			$	11,273.55
7/19/2008		Heath, Darrell		SI-A-P-06513			4135009892			$	15,300.00				5009892				17.9				84			$	320.68			$	14,921.80
2/28/2007		Chace, Ray		GO-A-P-02192			4135004955			$	4,750.00																			$	2,611.25
3/30/2004		Anderson, Dennis		PL-A-P-00221			A4400204			$	27,090.00																			$	15,182.14
7/14/2003		Bohnert, Theodore		GO-O-P-00473			A3800006			$	10,916.12																			$	7,366.52
3/23/2005		BOURGUET, Ira		SI-A-P-04660			A5400202			$	12,504.93																			$	6,755.72
1/21/2003		COLAPRETE, Stephen		SI-A-P-02725			A3200072			$	12,595.50																			$	6,748.57
8/22/2006		COTTON, Jeff		GO-E-P-00911			A6901010			$	14,575.50				1503437				17.90	%			120			$	261.70			$	13,349.60
7/18/2004		Dilley, Kenneth		PL-A-P-00243			A4800267			$	28,075.07																			$	18,283.64
2/29/2004		Dufala, Robert		SI-A-P-03849			A4300418			$	12,699.78																			$	8,875.49
1/10/2005		Emmick, Robert		CO-O-P-03631			A5100412			$	5,845.00				51551				17.9	%			84			$	122.51			$	3,022.72
8/7/2007		FISHER, Ronald		SI-A-P-06097			A7800727			$	13,786.73				5006676				17.9	%			120			$	247.33			$	12,468.44
8/28/2006		Greene, Myrna		SI-E-P-04009			A6900686			$	8,045.00																			$	7,400.56
3/4/2008		GRZYBEK, Stan		CO-O-P-04593			A8300440			$	7,195.00																			$	7,005.90
3/17/2007		Harrington, Larry		SI-O-P-04115			A7302433			$	9,360.00				5005103				17.9				84			$	196.18			$	8,641.01
7/3/2005		Hay, Paul		GO-A-P-01820			A5701251			$	10,000.00				601027				17.9				120			$	179.55			$	8,736.48
5/28/2005		Jiminez, Maria alicia		SI-A-P-04798			A5600386			$	14,043.47				5000567				17.9				120			$	252.14			$	12,783.41
9/10/2007		Krimmer, Thomas		GO-A-P-02353			A7901019			$	19,543.23																			$	18,010.93
8/15/2006		Nevett, Michael		CO-E-P-04276			A6801570			$	6,295.00																			$	5,238.01
3/6/2006		Olson, Laura		Co-E-P-04300			A6900910			$	7,195.00				54481				17.9				84			$	150.81			$	5,954.85
4/29/2006		Pagano, Paul		SI-A-P-05378			A6500713			$	6,000.00				5001301				17.9	%			84			$	125.76			$	3,606.28
1/7/2008		PARKS, Kenneth		GO-O-P-01260			A8100551			$	9,745.39				5008179				17.90	%			120			$	174.97			$	9,701.49
8/1/2007		Seilbach, Ronald		SI-E-P-04461			A7800695			$	9,117.52				5006620				17.9				120			$	163.70			$	8,749.12
2/19/2004		Tanksley, James		CO-O-P-02856			A4300207			$	6,295.00																			$	3,060.11
6/15/2006		Trout, Earl		CO-E-P-04216			A6601302			$	6,295.00																			$	4,564.21
7/23/2007		Troxell, Eddie		CO-O-P-04493			A7A00301			$	8,095.00				5006547				17.9				120			$	145.34			$	8,243.58
6/24/2007		Warfel, Larry		CO-A-P-03107			A7700203			$	8,995.00																			$	8,143.30
7/6/2005		Aninag, Kim		CO-A-P-02692			A5801139			$	8,995.00																			$	6,750.27
4/28/2005		Bartman, Vicki		SI-E-P-03101			A5500229				8,095.00																			$	5,482.50
5/22/2005		Fightmaster, Anthony		CO-E-P-03819			A5800443			$	6,660.00																			$	3,057.19
10/23/2004		Grossman, Adam		SI-E-P-02746			A4A01320			$	8,095.00																			$	4,547.07
4/29/2008		Lund, Margaret		CO-O-P-04661			A8500168			$	6,195.00																			$	6,355.67
6/1/2008		Mejia, Milton		CO-O-P-04702			A8600421			$	5,520.00																			$	5,666.32
7/6/2004		Shaylor		SI-O-P-02593			A4700640				8,685.00																			$	2,896.57
6/10/2002		Tiffany, Aaron M.		SI-A-P-02139			A2601485			$	6,879.00																			$	1,576.64
6/3/2002		Wendall, Frank		CO-E-P-01911			A2600919			$	6,295.00																			$	257.95
																														$	344,082.61

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
IN HOUSE PENDING DEFAULTS

												Balance
Sale		Owner		Membership		Previous		Original				8/26
Date		Name(s)		Number		Acct No.		Loan				11009-18
9/12/2000		Rippingale, Neil		CO-O-P-00764		4130038649		$	5,940.00				5,429.15
1/7/2002		Manning, Melvin		CO-O-P-01295		4130043259		$	3,500.00				2,621.25
9/18/2005		Alfano, Charles		SI-A-P-05005		4130053353		$	7,495.00				6,870.42
9/13/2004		Catabijan, Jeremy		GO-A-P-01674		A4A00052		$	21,151.24				14,931.53
2/10/2008		NAPLES, Mark		GO-A-P-02473		A8200574		$	19,504.04				18,398.38
2/17/2003		Whitney, Tammy		SI-E-P-01707		A3301246		$	6,421.67				3,099.15
6/27/2003		Walden, Troy		CO-E-P-02641		A3700645		$	6,295.00				1,476.96
		Number of Valid Loans				TOTALS		$	70,306.95				52,826.84

EXHIBIT A-4
Resort Funding LLC Holdbacks and Loans

(Attached)

Resort Funding LLC Holdbacks and Loans
M&I Timeshare Loans

All consumer timeshare loans purchased by or received as replacement paper by Resort Funding LLC prior to March 2, 2009 under any of several agreements between Resort Funding LLC and Sellers, including those timeshare loans listed on the attachment hereto.

All holdbacks related to consumer timeshare loans purchased by or received as replacement paper by Resort Funding LLC prior to March 2, 2009 under any of several agreements between Resort Funding LLC and Sellers, including those holdbacks listed on the attachment hereto.

The loans used as collateral for M&I Bank listed on the attachment hereto

RESORT FUNDING PRINCIPAL BALANCES AS OF MAY 31, 2010

CONTRACT		CUSTOMER PRINCIPAL BALANCE				RESERVE
A6C00803			3,440.92				759.25
A3A00508			1,352.33				1,920.40
A3600089			122.34				838.42
A5500113			3,633.95				1,088.59
A8300344			6,365.93				1,418.46
A6900679			2,632.18				547.90
A8400673			5,676.05				1,861.55
A6801948			4,989.28				1,057.75
A6400290			4,080.79				923.11
A8100728			7,564.53				1,886.78
A5B00062			2,365.54				600.08
A3700433			243.21				845.29
A5400230			8,138.06				1,571.83
A4900143			7,984.16				1,792.69
A5100699			3,046.28				1,156.06
A7A00296			5,530.09				1,344.44
A6600457			3,348.43				744.38
A7601199			8,517.09				1,636.13
A3600317			5,389.00				1,714.34
A5300476			7,709.48				1,441.48
A3C00340			1,510.16				1,870.14
A4900146			1,560.02				995.94
A3400588			5,108.79				1,422.31
A7400296			6,970.91				1,444.73
A3700281			6,522.14				2,014.07
A3A00491			435.71				716.56
A5B00677			16,210.17				5,710.82
A7600001			13,919.75				4,429.43
A5900660			3,487.55				904.34
A6C00261			4,554.24				1,006.24
A5500974			3,401.30				1,079.94
A2700472			4,778.67				1,829.75
A4A01306			1,482.05				621.63
A4600137			1,644.76				1,023.92
A7701441			19,320.17				5,828.74
A7100500			5,488.85				1,171.04
A3500490			160.78				1,110.95
A5A00421			3,970.26				934.98
A4400058			1,159.61				853.84
A6700967			9,791.41				2,116.13
A5100317			1,975.04				799.44
A4400759			1,708.93				1,151.97
A4B00355			2,660.55				1,115.14
A5500778			2,450.19				770.48
A5500515			3,365.46				1,068.61
A6400736			3,708.14				851.37
A3B00233			9,504.20				2,702.17
A6101267			7,258.34				2,172.17
A5600873			3,618.51				1,110.62
A4900144			4,934.23				1,122.43
A6C01140			6,562.93				1,420.00

1 of 14

RESORT FUNDING PRINCIPAL BALANCES AS OF MAY 31, 2010

CONTRACT		CUSTOMER PRINCIPAL BALANCE				RESERVE
A6800677			4,930.00				1,049.44
A6800657			1,034.47				170.14
A4B00353			2,483.72				1,103.44
A4500012			1,233.90				831.78
A5A00955			3,528.57				831.05
A4400758			1,247.56				883.04
A6A01718			4,599.41				940.09
A3A00640			631.04				895.80
A6B00093			9,141.40				2,017.14
A5400097			9,034.89				1,729.29
A5200526			4,391.27				1,585.31
A6700201			4,499.46				934.72
A7900662			6,336.15				1,355.97
A5400229			10,124.05				1,877.02
A5900267			13,266.09				4,670.17
A6304449			4,498.62				1,032.06
A4600572			1,810.29				1,151.76
A3500504			4,513.91				1,415.35
A6201078			9,614.55				3,022.16
A7B00605			6,879.47				2,027.44
A7C01285			5,612.89				1,419.98
A5800440			4,164.75				1,138.11
A6900918			3,971.34				1,163.68
A6304579			—				345.46
A6600705			3,730.78				853.86
A5A00423			4,412.02				1,038.91
A2B00066			2,592.72				1,550.62
A4400052			1,039.16				883.72
A6200097			3,498.48				802.57
A7100710			4,479.88				988.91
A8200419			5,726.52				1,735.11
A3700547			10,580.68				3,165.39
A6B01343			4,095.73				919.13
A1030473			747.49				884.86
A5300470			4,202.26				2,073.35
A5400697			10,641.05				1,866.79
A8100253			3,515.39				1,133.99
A7A01155			4,891.62				1,107.54
A5501230			5,083.73				1,560.17
A4A01270			2,660.55				1,124.19
A5100693			3,686.02				1,084.22
A5900549			5,914.48				2,190.60
A4A00052			14,287.33				2,771.61
A4300603			1,739.24				1,280.02
A6B00966			8,194.42				1,839.02
A7400543			6,598.92				1,485.18
A4B00616			5,477.58				1,089.94
A5A00426			1,589.56				800.74
A6500733			891.28				432.53
A7601765			4,260.47				915.56
A2C00637			4,427.29				1,864.89

2 of 14

RESORT FUNDING PRINCIPAL BALANCES AS OF MAY 31, 2010

CONTRACT		CUSTOMER PRINCIPAL BALANCE				RESERVE
A7C01286			4,987.92				1,264.75
A5A00012			4,852.88				1,179.23
A7100496			7,514.75				2,178.32
A8400194			3,023.50				1,292.66
A2600989			417.77				1,947.66
A3600456			4,488.35				1,991.58
A6400333			8,549.20				1,923.28
A5300578			3,552.92				1,643.38
A5400092			6,610.39				1,210.02
A7801540			7,172.03				1,545.96
A3600369			194.63				1,070.41
A4300120			14,560.72				2,787.57
A4A01301			5,508.29				1,139.31
A8500206			6,305.32				2,558.12
A3A00328			4,603.07				1,344.23
A5300019			412.67				745.57
A7C01648			2,701.65				595.28
A5700728			2,428.70				605.18
A5700247			3,815.61				1,077.72
A5500625			8,663.48				1,838.77
A4400065			1,217.18				895.80
A3900142			471.48				832.52
A2400042			3,912.05				1,808.48
A8200030			12,087.76				5,004.51
A8500600			5,954.30				2,527.85
A7900967			5,334.39				1,153.95
A6C00123			7,307.21				2,146.50
A5C00059			3,720.57				980.16
A3400603			3,527.17				1,228.03
A3A00149			488.90				870.95
A4700337			4,788.20				3,166.58
A5C00116			1,480.27				698.19
A3800015			384.16				895.80
A7A01154			6,184.71				1,423.36
A5400339			2,467.65				870.77
A5A00188			3,477.90				846.47
A4A00668			1,733.86				752.15
A5400025			3,291.75				1,045.22
A5600144			10,265.58				2,042.98
A7601136			8,476.20				2,509.00
A3700275			238.58				832.52
A7A01159			4,317.53				1,019.74
A4600255			1,871.81				1,151.97
A6601303			3,576.29				818.59
A5700563			2,826.14				796.49
A6C00263			8,461.04				2,468.99
A6101409			3,362.41				(333.47	)
A4B00351			2,788.62				1,115.14
A6501219			7,834.21				1,967.37
A5B00408			9,448.55				3,426.60
A3600340			187.52				1,058.56

3 of 14 

RESORT FUNDING PRINCIPAL BALANCES AS OF MAY 31, 2010

CONTRACT		CUSTOMER PRINCIPAL BALANCE				RESERVE
A4400057			2,008.79				1,075.79
A4C00660			223.06				1,223.02
A5A00954			7,359.81				2,513.50
A1040851			2,970.82				2,450.22
A4300106			2,047.25				1,664,23
A3800549			6,625.41				1,870.14
A5100691			8,242.80				1,666.51
A4600525			823.89				740.26
A5300427			3,282.37				1,097.34
A6100377			10,494.37				3,479.44
A5A00229			7,501.61				1,822.73
A5C01063			9,819.57				3,380.59
A7401219			12,256.61				3,485.98
A8300830			8,664.68				2,598.66
A7100712			10,171.57				2,929.33
A3800608			75.44				845.29
A5300187			2,458.90				853.32
A2400471			3,972.74				1,836.30
A5100692			2,914.81				1,106.19
A6A02638			8,156.44				2,277.10
A4900138			1,988.00				1,128.67
A7B00784			5,323.03				1,365.21
A6801160			9,003.80				2,174.53
A8400519			4,857.58				1,578.64
A8400395			11,782.71				3,763.27
A2500741			3,459.02				1,390.94
A5500825			2,353.95				1,199.98
A6A00221			4,753.73				1,269.07
A8500170			11,949.51				5,103.12
A4600133			1,461.12				845.29
A5700262			1,208.65				406.98
A5100416			2,493.82				798.72
A4500212			2,057.28				1,280.02
A4601457			1,447.04				1,100.91
A5600202			3,442.28				1,067.27
A4100188			1,439.75				895.80
A7100890			6,697.80				1,461.24
A5700251			2,826.14				721.87
A5B00644			3,625.30				1,011.69
A4400356			3,859.13				940.39
A5701250			7,052.86				1,929.12
A4500550			1,829.13				1,138.46
A5A00425			1,812.99				620.86
A3600444			520.04				1,142.60
A4500026			5,507.33				1,261.40
A2500340			4,208.65				1,808.48
A7302664			8,424.98				2,396.28
A3400852			6,008.10				1,991.58
A7A00006			7,216.72				1,659.92
A3900010			194.81				1,098.33
A7600777			4,582.61				795.83

4 of 14 

RESORT FUNDING PRINCIPAL BALANCES AS OF MAY 31, 2010

CONTRACT		CUSTOMER PRINCIPAL BALANCE				RESERVE
A3800139			8,905.50				2,658.44
A8300828			5,889.41				1,695.37
A6701558			5,019.28				1,181.95
A6C00411			4,680.96				1,050.58
A6800659			9,720.79				1,985.72
A7601536			7,818.95				2,317.51
A4B00244			1,968.18				874.20
A2401455			4,373.95				1,947.66
A3300854			3,257.60				1,830.06
A3800014			5,093.72				1,604.74
A5400699			9,908.74				1,712.96
A5900665			7,829.45				2,334.38
A5300031			3,161.66				1,097.34
A3900460			7,203.53				2,117.29
A3B00156			913.37				1,088.62
A8100138			5,697.73				1,475.56
A8500169			11,141.57				3,117.47
A5B00645			8,586.97				2,333.37
A5500818			3,970.26				1,079.94
A6101406			3,498.48				809.23
A7700202			6,178.80				1,360.67
A4700108			5,721.29				1,298.09
A4701244			10,069.50				2,179.18
A6100152			4,039.66				974.16
A6200847			4,498.62				1,032.06
A4300531			1,159.61				853.84
A6900919			7,363.59				2,051.31
A4A01315			1,921.02				811.72
A7401344			5,088.94				1,098.60
A7700704			8,804.34				1,966.79
A3500309			3,034.41				1,164.79
A6101259			3,817.55				949.05
A4800964			703.83				1,133.34
A5800441			5,793.89				729.12
A6501446			3,730.78				936.35
A5900180			11,272.79				4,063.59
A5200183			10,598.16				1,993.20
A8100608			9,129.35				3,202.82
A4600127			1,548.59				895.80
A5501249			4,039.72				1,269.49
A4501033			312.70				1,162.29
A8400713			8,099.42				2,621.48
A6701550			5,266.73				1,116.53
A6800679			3,880.01				805.92
A6A01421			4,790.45				982.93
A6700198			6,846.56				1,966.52
A6400212			3,577.06				802.57
A4601446			2,212.80				1,280.02
A4800867			—				881.32
A5400096			6,129.57				1,227.01
A5500112			3,739.86				1,196.83

5 of 14

RESORT FUNDING PRINCIPAL BALANCES AS OF MAY 31, 2010

CONTRACT		CUSTOMER PRINCIPAL BALANCE				RESERVE
A7100428			4,408.45				961.26
A3800591			6,857.83				1,931.24
A4300261			431.69				1,151.97
A7600778			6,785.21				1,502.60
A8300916			4,196.18				1,259.17
A8100548			8,824.04				1,273.84
A4B00408			4,323.53				1,032.88
A8400193			19,313.24				6,321.10
A6400586			2,451.00				639.99
A7801205			10,550.54				2,461.47
A6700194			10,091.23				2,898.63
A6200997			8,795.21				2,064.74
A5400677			4,242.31				1,270.80
A3100067			5,180.25				1,849.26
A6501065			3,901.84				992.11
A6200976			3,752.89				903.42
A5900555			6,864.36				1,768.26
A6800673			9,981.95				2,116.13
A7301491			9,186.95				1,991.81
A3A00512			14,406.76				3,886.26
A3A00539			775.33				1,101.46
A2600145			4,532.48				1,947.66
A5801151			3,313.94				879.37
A4B00405			1,921.02				805.18
A3800008			606.92				1,410.24
A3800597			1,716.17				3,021.46
A7C00139			6,336.15				1,602.20
A8200190			4,973.49				1,503.60
A5701244			1,761.93				712.76
A6901530			4,599.97				940.18
A2401873			3,103.04				1,390.94
A3600308			5,324.06				1,737.86
A4300533			8,836.59				2,057.21
A5700730			3,633.95				1,024.25
A7A00834			7,322.09				1,662.18
A8600420			11,950.12				5,277.94
A8500594			3,840.72				1,319.03
A6C00304			4,165.53				919.13
A6900678			4,305.71				958.12
A5B00182			3,608.67				864.57
A5501229			3,248.10				1,079.94
A4A00423			2,525.21				1,124.19
A4B00504			5,554.00				1,293.69
A4300119			506.09				1,000.36
A3B00107			4,911.93				1,387.42
A7A01097			3,672.50				709.09
A7302582			13,359.30				3,830.05
A3700289			349.27				819.69
A5C00317			4,186.30				1,102.76
A4200046			53.32				832.52
A6C00809			4,106.74				912.90

6 of 14

RESORT FUNDING PRINCIPAL BALANCES AS OF MAY 31, 2010

		CUSTOMER
		PRINCIPAL
CONTRACT		BALANCE				RESERVE
A5600711			2,736.36				839.79
A5A00950			3,087.64				750.18
A4300440			1,546.24				1,138.46
A7900188			5,341.24				870.92
A5B00674			4,419.16				1,171.55
A3C00991			3,422.08				1,032.15
A7B00274			7,133.03				1,243.05
A4900881			1,828.26				812.45
A6701561			3,879.93				822.54
A2500262			4,531.89				1,947.66
A7200489			4,524.26				1,119.43
A7800001			7,796.30				2,280.78
A6B00559			2,566.57				521.79
A6B00561			406.84				41.15
A5100695			8,358.88				1,621.37
A2C01007			5,276.84				1,991.49
A4B00553			5,959.52				1,209.38
A5500978			2,240.37				1,132.39
A5501237			3,401.30				1,079.94
A6900280			7,908.79				1,645.77
A3800480			207.30				722.26
A5C00386			4,421.33				1,164.76
A4900202			2,223.86				1,133.34
A4C00318			9,924.00				1,950.59
A5801142			3,330.75				910.41
A6400216			7,042.64				2,195.87
A3700532			5,176.42				1,649.00
A6701560			8,317.69				1,763.34
A0110235			729.73				1,086.54
A8100252			28,274.71				9,784.97
A3800173			6,346.24				2,014.07
A4A01008			2,530.57				1,124.19
A8100443			4,188.02				1,071.15
A6700204			4,393.40				1,273.79
A7501666			10,480.17				2,600.93
A6900042			—				1,678.72
A3600277			166.41				1,142.60
A4100330			1,078.66				974.90
A4C00311			8,301.15				1,693.44
A4100232			870.72				895.80
A7302667			16,773.87				3,655.46
A8300696			4,324.92				580.05
A3C00024			—				895.80
A6302640			6,987.11				2,233.23
A3C00042			702.54				1,007.08
A5700254			2,693.36				759.19
A4200051			662.33				895.80
A2B00194			4,758.72				1,731.48
A3C00297			870.72				895.80
A6500731			7,632.46				1,687.73
A2601482			4,666.95				1,947.66

7 of 14

RESORT FUNDING PRINCIPAL BALANCES AS OF MAY 31, 2010

		CUSTOMER
		PRINCIPAL
CONTRACT		BALANCE				RESERVE
A5701275			6,058.34				1,707.51
A3A00133			606.33				1,067.98
A6A01725			4,312.11				881.39
A7901020			271.56				7.86
A5300194			2,411.55				829.78
A7700914			7,933.68				2,337.72
A2400456			4,188.98				1,864.89
A6304450			3,998.22				917.35
A3800605			493.29				1,151.97
A3900450			671.68				1,108.04
A5100419			1,559.30				798.72
A6601056			3,093.87				835.56
A5100316			2,266.96				860.20
A6B00950			8,744.44				1,877.25
A6600433			2,877.41				722.33
A4400138			2,282.76				1,961.61
A4100183			7,372.61				2,014.07
A6501075			434.73				1,203.49
A3600909			4,472.94				1,532.74
A5100023			1,962.19				860.20
A5400519			3,282.37				1,088.59
A7601137			12,730.72				3,710.16
A2701157			4,842.58				1,947.66
A4400348			10,133.84				2,144.84
A6C00259			7,385.40				1,722.19
A3900456			5,744.38				1,869.88
A7700315			10,450.69				1,901.24
A6C00648			5,044.63				1,770.67
A8200322			5,434.47				1,281.76
A2C00853			3,959.30				1,767.01
A4400357			4,469.37				1,123.62
A7700538			6,608.80				1,443.70
A7C01199			3,845.31				749.05
A7401213			10,185.19				2,991.42
A5700268			2,060.49				275.82
A5800567			8,971.39				3,333.45
A3600316			3,839.53				1,301.48
A3800543			362.31				845.29
A3900457			4,615.02				1,535.89
A4200419			1,103.40				895.80
A5200275			4,790.34				963.41
A6100467			2,956.61				786.97
A8600433			7,497.46				3,664.12
A4C00659			2,073.91				787.12
A3C00880			1,428.37				1,328.37
A3800537			199.77				845.29
A3700424			6,291.82				1,942.91
A4600571			6,557.23				1,765.80
A3800589			3,882.31				1,345.65
A5601014			3,683.36				1,038.44
A7C01198			5,701.50				1,425.05

8 of 14

RESORT FUNDING PRINCIPAL BALANCES AS OF MAY 31, 2010

		CUSTOMER
		PRINCIPAL
CONTRACT		BALANCE				RESERVE
A6100421			5,355.88				1,391.39
A5400692			5,638.09				1,814.74
A3600259			122.04				837.14
A5801145			6,175.73				2,294.71
A6700580			10,758.89				3,241.21
A2B00714			4,784.88				1,892.63
A8300512			5,802.79				1,739.43
A8200567			7,648.81				2,286.94
A5C01113			4,391.99				1,157.39
A4800944			5,212.14				1,166.93
A5500232			2,227.58				839.79
A4700334			6,286.45				1,633.96
A7900661			7,188.12				2,078.22
A7C01649			3,043.26				740.95
A5700955			2,683.02				797.50
A8400976			23,500.05				7,609.15
A4800959			1,242.58				881.32
A5300857			6,656.35				1,416.24
A3700561			418.79				832.52
A3900544			548.89				832.52
A4400413			1,313.04				895.80
A5100342			2,054.59				956.56
A5C00055			6,466.38				2,190.29
A4500777			1,007.78				776.38
A4400038			999.27				809.44
A3500864			6,262.52				1,991.58
A6100461			4,186.30				1,067.55
A7900303			12,330.55				3,547.28
A8300913			614.99				1,003.61
A2701411			3,350.23				1,598.85
A5701270			11,337.98				4,300.37
A5700273			2,826.14				771.80
A4900051			2,768.05				1,385.37
A4B00340			1,922.21				805.91
A5800564			6,043.89				1,562.85
A2701156			3,459.02				1,390.94
A4100686			1,181.21				1,146.47
A8400263			5,893.33				1,856.18
A7101100			11,683.05				2,538.34
A2401881			3,124.37				1,390.94
A7301831			6,152.79				1,293.63
A5700971			1,377.48				559.06
A3600090			118.22				813.03
A7302130			5,990.09				1,319.82
A4400714			8,061.28				1,813.76
A5A00953			11,459.34				4,104.75
A5501028			5,908.59				1,139.91
A6600432			3,733.46				855.03
A6901416			3,899.52				811.44
A6801058			3,952.98				805.92
A5800265			2,592.86				742.62

9 of 14

RESORT FUNDING PRINCIPAL BALANCES AS OF MAY 31, 2010

		CUSTOMER
		PRINCIPAL
CONTRACT		BALANCE				RESERVE
A5900258			6,406.98				2,249.50
A2701414			3,553.43				1,764.21
A6900271			4,313.75				943.07
A8300917			6,364.45				1,917.87
A5100477			2,013.71				860.20
A6501251			4,698.63				1,180.06
A6302600			4,201.85				1,096.19
A6701564			7,495.89				1,652.28
A3B00149			8,632.46				1,995.28
A4400746			1,329.29				895.80
A3300365			5,649.13				1,920.42
A3700271			576.87				819.69
A5600710			3,126.99				959.90
A4400409			1,708.93				1,151.97
A7A00001			8,280.15				2,639.90
A2201304			3,120.68				1,947.66
A4400140			1,092.05				962.95
A4A01318			2,660.55				1,124.19
A4A00519			2,881.13				2,144.55
A4900038			2,571.02				1,259.32
A5501251			7,650.72				1,386.16
A6801951			9,039.53				1,880.91
A4300586			4,937.35				1,144.86
A5A00647			194.40				350.60
A3600134			10,048.75				3,130.04
A6501575			4,399.62				1,080.11
A3800601			508.51				895.80
A5C00325			7,135.94				2,473.68
A7501070			4,760.40				1,069.16
A8300506			4,372.52				1,308.12
A4100226			848.09				871.09
A4A00042			3,818.25				1,777.29
A6800092			1,116.38				186.12
A6801925			3,880.01				822.54
A6B00063			10,334.75				2,998.66
A8400671			5,364.96				2,170.17
A4800965			1,629.76				881.32
A7B00313			6,601.74				1,545.29
A4C00304			2,298.61				919.41
A4A00032			3,016.06				1,411.48
A7C01013			7,197.37				1,796.51
A7C00160			7,946.94				2,142.17
A6304766			2,044.76				303.42
A3500855			2,627.35				2,283.53
A4700490			1,337.97				888.52
A6801575			2,915.96				658.67
A4900482			1,938.20				1,056.33
A6304591			3,577.06				802.57
A7A00559			8,699.50				2,737.56
A8100255			6,906.82				2,459.24
A8300442			6,187.89				1,856.28

10 of 14

RESORT FUNDING PRINCIPAL BALANCES AS OF MAY 31, 2010

CONTRACT		CUSTOMER PRINCIPAL BALANCE				RESERVE
A8400718			3,140.05				1,149.54
A6A01814			9,220.75				1,867.97
A3A00652			462.17				1,931.24
A4A01305			5,631.87				1,137.34
A2300468			3,888.07				1,808.48
A4200413			799.76				948.08
A8600267			5,821.20				2,557.97
A5800566			14,767.56				5,486.48
A5900461			2,418.05				671.93
A6400737			7,042.64				2,195.87
A6601051			5,331.02				1,220.09
A4900139			8,792.60				2,073.03
A5400521			1,546.47				823.04
A6400575			3,179.17				730.75
A3B00428			6,548.54				1,870.14
A6700584			9,742.12				2,065.68
A8200188			8,317.97				2,550.45
A8200605			9,235.11				2,807.33
A7701356			4,080.42				985.98
A8500462			9,220.79				2,989.40
A6302377			6,999.34				1,566.23
A6400745			4,599.67				1,006.63
A8600441			8,798.18				4,991.16
A6C00646			5,750.78				1,248.42
A4100710			551.48				608.13
A5300026			3,161.66				1,097.34
A5B00563			348.58				85.85
A5100363			4,616.01				1,117.80
A7C01197			3,605.12				886.05
A4900207			969.55				831.62
A4400137			6,640.62				1,634.50
A6501073			2,834.00				688.17
A4600316			1,426.57				1,197.53
A3800593			7,018.81				1,931.24
A3700370			—				1,680.46
A5701248			4,910.21				1,277.63
A3500494			4,920.53				1,564.62
A2700827			5,409.79				2,213.45
A6800087			8,158.91				1,763.34
A8400394			7,396.61				2,404.97
A7A00833			17,186.98				3,955.25
A3C00180			8,689.85				2,455.56
A3A00490			1,043.00				1,121.21
A3A00254			5,690.45				1,673.76
A2400482			4,373.95				1,947.66
A3700375			3,911.62				1,331.58
A2501373			4,527.56				1,947.66
A6500077			9,938.88				3,074.77
A8500851			4,077.70				1,919.90
A2701551			3,459.02				1,390.94
A3400617			4,476.63				1,488.27

11 of 14

RESORT FUNDING PRINCIPAL BALANCES AS OF MAY 31, 2010

CONTRACT		CUSTOMER PRINCIPAL BALANCE				RESERVE
A4100103			4,055.67				1,183.38
A4900649			673.86				1,047.58
A5800105			3,744.24				991.95
A5801146			3,747.72				1,024.25
A5B00678			6,714.89				1,884.81
A6200552			3,944.06				929.12
A7100502			8,786.77				1,907.29
A7200736			7,116.77				2,165.78
A7401363			8,483.22				2,458.24
A6B00096			6,260.20				1,362.72
A3900476			352.10				832.52
A0120732			1,065.66				1,001.58
A4900625			2,131.57				1,007.36
A7700911			8,576.40				2,509.00
A7A01098			8,736.00				2,724.78
A3600313			2,977.76				2,608.06
A6600472			4,490.03				1,053.58
A6400752			7,156.58				1,605.79
A7400882			7,264.66				1,633.52
A6304585			3,498.48				802.57
A3800538			471.76				1,101.46
A4300259			1,739.24				1,280.02
A2300298			2,719.56				1,308.26
A6B01336			4,019.31				885.39
A7501664			9,363.57				2,106.44
A6801580			18,040.82				3,699.28
A8300343			6,446.33				1,440.20
A5400095			8,895.25				1,732.49
A4300323			7,854.35				2,271.64
A5200006			2,266.96				860.20
A6100455			4,278.32				1,092.54
A6801175			7,762.77				668.39
A4400354			10,105.39				2,144.84
A5100345			5,796.45				1,127.58
A2900331			3,024.88				1,197.59
A7A01101			4,934.21				1,109.20
A4100683			831.84				858.05
A5200276			3,116.62				1,110.21
A8400520			6,721.65				2,185.31
A5A00393			331.52				72.03
A6500063			3,577.06				917.72
A7800389			8,771.99				1,896.53
A8600432			6,392.61				2,719.97
A5600886			10,252.69				3,241.09
A5100709			14,262.01				2,888.80
A5700569			1,141.96				427.88
A4300324			4,115.94				1,263.17
A6400800			7,921.34				668.07
A3A00761			10,807.51				3,146.86
A4800945			12,184.68				2,507.76
A3B00360			9,026.07				2,589.68

12 of 14

RESORT FUNDING PRINCIPAL BALANCES AS OF MAY 31, 2010

CONTRACT		CUSTOMER PRINCIPAL BALANCE				RESERVE
A8100729			4,080.49				1,044.92
A7900304			2,895.67				635.07
A5A00004			3,235.51				828.16
A5200528			2,724.36				853.32
A4C00319			5,371.19				1,120.80
A8200815			2,978.50				1,193.63
A4400408			5,134.02				1,703.16
A5C00319			4,328.59				1,169.06
A5200167			1,268.94				484.03
A5500233			6,440.58				2,753.79
A2201302			3,391.86				1,808.48
A5100111			9,961.21				2,023.34
A3600366			337.52				1,142.60
A5B00403			3,401.23				804.42
A8200420			7,060.24				2,105.97
A3800013			358.30				1,310.50
A3500862			159.06				1,092.50
A4800530			1,761.19				881.32
A7601917			6,660.75				1,486.18
A5400674			3,282.37				1,088.59
A4B00239			2,625.34				1,182.76
A6200317			953.38				186.84
A0090760			281.16				1,263.54
A3700645			1,439.75				895.80
A4400205			1,234.40				832.52
A3500437			6,709.90				2,133.90
A4600388			760.45				732.11
A5100696			1,317.29				921.75
A6101284			3,337.79				809.23
A5801252			3,001.76				796.49
A6301104			6,780.09				2,179.25
A4601441			1,166.21				989.97
A6A01815			5,463.39				1,116.53
A5800258			3,191.32				871.78
A6A02639			5,899.98				1,392.60
A7501072			7,928.49				2,280.45
A4700493			1,537.93				825.76
A5700990			1,849.81				521.52
A3B00436			7,018.88				2,014.07
A3301246			3,041.23				979.41
A3A00325			585.52				831.78
A6B00060			5,852.50				1,175.32
A7C01492			11,972.09				3,025.65
A4700091			303.60				888.52
A2500323			4,373.95				1,947.66
A3A00632			966.20				1,151.97
A5501027			8,570.31				1,566.87
A6500706			16,941.88				5,335.83
A3700296			331.14				1,151.97
A7100950			2,202.17				550.26
A3500439			4,573.79				1,537.85

13 of 14

RESORT FUNDING PRINCIPAL BALANCES AS OF MAY 31, 2010

CONTRACT		CUSTOMER PRINCIPAL BALANCE				RESERVE
A5A00230			2,866.12				711.90
A6B00462			5,589.83				1,916.38
A3800486			548,92				1,280.02
A4400073			1,129.80				831.78
A4900200			1,732.91				819.06
A8100073			11,604.56				4,074.81
A7B00063			11,830.53				2,746.97
A6C00410			5,952.24				1,313.34
A3B00435			10,521.23				3,021.46
A3400875			5,754.10				1,865.91
A6B00268			10,930.30				2,233.70
A3700669			625.78				2,176.57
A6304764			3,498.48				782.80
A7100670			7,693.26				2,271.94
A6801950			6,336.09				1,421.96
A2300289			6,020.57				2,782.66
A4B00354			1,952.45				818.26
A5300197			11,058.28				2,014.18
A6304035			6,097.07				1,439.64
A7400295			7,676.80				2,214.97
A6600467			8,595.21				1,891.52
A7A00299			15,276.99				3,462.69
A4A00516			2,483.52				2,689.50
A5900550			3,001.76				773.27
A4700192			29,666.51				4,884.90
A4700184			23,733.96				4,433.93
A4700187			19,025.90				3,647.09
A4700188			19,246.66				3,652.20
A4700191			25,387.00				3,898.77
A4900148			5,072.43				1,264.51

14 of 14

M I BANK COLLATERAL

May 31, 2010

CONTRACT NUMBER		CURRENT BALANCE
04135006087			3636
04135006763			5247.5
04135007454			2500
04135007770			836.4
04135008406			510

EXHIBIT A-5
Pre-Petition Ineligible Receivables

(Attached)

Pre-Petition Ineligible Receivables

Attached hereto.

PREMIERE DEVELOPMENT INCORPORATED
CUSTOMER NOTES RECEIVABLE
PRE-PETITION INELIGIBLE RECEIVABLES

												ORIGINAL
CONTRACT				INTEREST		PAYMENT		CURRENT		CONTRACT		LOAN		ORIGINAL
NUMBER		NAME		RATE		AMOUNT		BALANCE		DATE		AMOUNT		TERM
4130301313		CABALLEHO, JOSE MIGUEL		15.9		115.77		1508.52		1/8/1999		5845		84
4130039505		DUNN, IMA C		17.9		120.73		1791.74		12/22/2000		5780		84
4130039751		SANTISTEVAN, RICHARD R		18.9		134.75		1489.24		1/24/2001		7781.39		120
4130700287		SCOTT, MICHAEL S.		17.9		126.28		168.45		5/4/2002		6025		84
4130700356		CHERWIN, JOHN T.		17.9		131.94		2282.98		5/19/2002		6295		84
4131500837		MICHAELS, WENDY M.		16.9		231.36		7909.89		8/16/2002		13360.29		120
4130401102		CRANDALL, KEVIN		15.9		133.73		41.27		9/11/2002		6751.92		84
4130045155		LOWTHER, KEVIN J.		17.9		162.23		1722.33		9/28/2002		7740		84
4130701489		HARRIS, JANIE		16.9		164.97		2979.36		1/18/2003		8095		84
4130701581		BUSH, DEBRA S.		16.9		137.45		3333.99		2/7/2003		6745		84
4130701890		VALLE, ERNEST		17.9		131.94		325.65		3/25/2003		6295		84
4131501328		DEMILLS. DAPHNE C.		16.9		342.84		12201.36		4/18/2003		19798.43		120
4130600214		CLARK, ALBERT C.		16.9		234.09		6246.46		6/2/2003		11487.02		84
4131501441		RICCOBONO, SALVATORE J.		16.9		163.07		358.62		6/21/2003		8002.07		84
4130702528		COLEMAN, KENNETH		16.9		137.45		743.23		6/24/2003		6745		84
4130047368		COLDIRON, LAURA L.		17.9		124.5		1228.71		7/14/2003		5940		84
4130703047		WILLIAMS, MARK C.		17.9		169.67		2379.84		9/13/2003		8095		84
4130304873		ALAIMO JR., LOUIS		13.9		239.34		10957.97		11/20/2003		15474.03		120
4130049247		UPTHEGROVE, BRIAN		17.9		124.5		3532.69		4/5/2004		5940		84
4130305083		MEZA, JESUS		16.9		150.81		5745.28		4/9/2004		8708.7		120
4130511126		TAYLOR, LYNNE		17.9		72.62		1134.56		5/15/2004		3622.23		60
4130049885		PRICE, EARL L.		17.9		122.51		2648.84		6/15/2004		5845		84
4131502291		BARKER, RICHARD D.		16.9		270.07		8405.21		8/24/2004		13252.72		84
4130600632		RIVERA, MARIA CELYNNE		16.9		140.27		6003.15		11/7/2004		8100		120
4131502407		SHAFIR, TALIA B.		16.9		175.26		6263.27		11/15/2004		10120.99		120
4130051968		BRYAN, JENNIFER M.		17.9		131.94		3223.54		3/13/2005		6295		84
4135000364		BEGAYE, MARY		17.9		131.21		4820.2		3/15/2005		6260		84
4130052074		COLSON, DARICK A.		17.9		126.28		3800.12		3/27/2005		6025		84
4131502612		DANIELS, ALICE I.		16.9		141.47		6898.99		3/31/2005		8169.25		120
4130052134		BRATSPIR, LEONARD		17.9		137.6		5058.91		4/2/2005		6565		84
4130052330		KEEGAN, NICOLE		17.9		263.99		7265.62		4/28/2005		12595		84
4135000534		SAFRO, PAIGE		16.9		308.45		13900.02		5/15/2005		17812.05		120
4130052157		CARR, ADRIENNE		17.9		167.68		4318.82		5/28/2005		8000		84
4130052746		HAWKINS, JANICE Y.		17.9		245.12		7088.62		6/26/2005		11695		84
4130601065		GABEL, SID H.		17.9		171.96		4088.05		7/29/2005		8205		84
4130601182		TAPIA, JUAN CARLOS		17.9		139.88		2404.12		11/6/2005		5520		60
4130053750		SALIMU-MOORE, AISHA M.		17.9		131.94		5371.45		11/12/2005		6295		84
4135001039		SEXTON, VICKIE RAE		17.9		169.67		6801.23		1/18/2006		8095		84
4130601286		GUEL HERNANDEZ, MARIO		17.9		132.47		5762.66		3/18/2006		6320		84
4130054636		AKERS, CHERRY		17.9		161.5		9110.65		3/25/2006		8995		120
4135001229		WAGONER, RANDALL S.		17.9		131.94		4147.27		4/2/2006		6295		84
4130055086		HUNT, PORTIA		17.9		131.94		5492.38		5/7/2006		6295		84
4130601349		ROBLES. MARTIN A.		17.9		132.47		5236.5		5/27/2006		6320		84
4130104041		FIELDS, REBECCA J.		17.9		169.67		4961.8		7/16/2006		8095		84
4130601475		BUELNA SANDOVAL, JOSE RAMON		17.9		201.7		5109.33		8/22/2006		7960		60
4130601483		ESTRADA GOMEZ, OSCAR		17.9		174.39		6982.43		8/26/2006		8320		84
4135004226		GARCIA, ANTONIO		17.9		139.87		3278.79		12/26/2006		5520		60
4135004247		PETITT, AARON		17.9		207.39		6352.52		12/27/2006		9895		84
4135004417		KAUFMANN, KENNETH		17.9		131.94		4408.3		1/13/2007		6295		84
4135004926		DAVENPORT, JOY L.		17.9		131.94		4620.91		2/25/2007		6295		84
4135005111		HESSELBEIN, MICHAEL C.		17.9		169.67		5465.05		3/17/2007		8095		84
4135005645		MOSHOS, DEBBIE		17.9		263.98		9729.52		4/29/2007		12595		84
4135005715		DIFFIE, MARGARET		17.9		130.16		4114.94		5/5/2007		6210		84
4135006170		CORTES, CARLOS E.		17.9		169.67		6765.96		6/18/2007		8095		84
4135006663		JOHNSON, WILBUR		17.9		197.97		8748.21		8/6/2007		9445.5		84
4135007486		DIETZMAN, DIANA R.		17.9		88.69		2202.04		10/21/2007		3500		60
4135007933		PENCE, MICHAEL J.		17.9		191.23		9945.33		12/3/2007		10651.16		120
4135008233		CORRAL, MARIA-ELENA		17.9		141.37		6164.36		1/13/2008		6745		84
4135008378		SWANSON, RICK		17.9		273.52		8654		1/29/2008		10794.4		60
4135008398		BANTING, HYGINIE		17.9		197.97		8848.94		2/1/2008		9445.5		84
4135008409		NORWOOD, MELINDA C.		17.9		169.58		8777.74		2/3/2008		9445		120
4135008588		ENGEL, ANDRENA MICHELLE		17.9		207.39		8980.68		2/24/2008		9895		84
4135008661		SANDERS, CAROL		17.9		96.31		3997.35		3/7/2008		4595		84
4135008688		SAENZ, TAWNY		9.8		192.94		8886.68		3/7/2008		11695		84
4135006714		ASHCRAFT, GREGORY A.		17.9		197.97		8684.38		3/9/2008		9445.5		84
4135008961		SKIBA, THOMAS S.		17.9		339.45		13508.69		4/5/2008		16195.5		84
4135009170		DALY, KIMBERLY MAY		17.9		150.8		5828.54		4/27/2008		7195		84
4135009394		GOLDMAN, CHRISTOPHER L		17.9		377.16		14204.59		5/23/2008		17995		84
4135009547		MCMAHON, PATRICK J.		17.9		113.18		4809.74		6/9/2008		5400		84
4135009593		JACKSON, ISOM		17.9		150.81		7195.5		6/15/2008		7195.5		84
4135009789		AMOS, KRISTINA		17.9		150.91		6481.46		7/8/2008		7200		84
4135009864		BREINER, LARRY		17.9		150.8		5870.25		7/17/2008		7195		84
4135010246		LOFTIS, MARLON T.		17.9		90.26		1049.6		8/30/2008		2500		36
4135010457		NEYMEYER. GREGORY S.		0		175.43		10876.7		9/25/2008		14736.16		84
4135010492		GINGRAS, EDWARD T.		17.9		210.37		10174.75		9/29/2008		11717		120
4135010625		HUNT, JOHN D.		17.9		146.71		6658.54		10/15/2008		7000		84
4135010816		RAPHAEL, ERIK A.		17.9		150.8		6889.32		11/9/2008		7195		84
4135011257		LEHMER. BARBARA G.		17.9		93.75		2932.68		1/6/2009		3700		60
								437351.58

LOS ABRIGADOS PARTNERS LIMITED PARTNERSHIP
CUSTOMER NOTES RECEIVABLE
PRE-PETITION INELIGIBLE RECEIVABLES

CONTRACT

INTEREST

PAYMENT

CURRENT

CONTRACT

ORIGINAL

ORIGINAL

NUMBER

NAME

RATE

AMOUNT

BALANCE

DATE

LOAN AMOUNT

TERM

4100244193

SUMMAR, JAMES E

11.9

173.48

1975.39

8/9/1994

9856.98

84

EXHIBIT A-6
Unsold Timeshare Interests

(Attached)

EXHIIBIT A-6
Unsold Timeshare Interests

Seller’s interests in the unsold Timeshare Interests as of August 26, 2010 consisting of approximately:

2,007.5 Copper Memberships (consisting of 1,976 odd year and 2,039 even year use)
3,657.5¹ Silver Memberships (consisting of 3,727 odd year and 3,588 even year use)
2,053.5¹ Gold Memberships (consisting of 2,041 odd year and 2,066 even year use)
91 Platinum Memberships (consisting of 91 odd year and 91 even year use)

¹ Memberships assume ADRE approval of Fourteenth Annexation (adding 71.5 Silver Memberships) and Seventh Deannexation (removing 71.5 Gold Memberships) which is currently pending.

Exhibit A-6

EXHIBIT A-7
Real Property and Leases

(Attached)

Real Property and Leases

Any of Sellers’ interest in the following Real Property as described more fully in the attached legal descriptions:

• 120 Portal Lane, Sedona, Arizona

• Portion of 133 Portal Lane, Sedona, Arizona

• Excepted areas of Los Abrigados Resort & Spa, 160 Portal Lane, Sedona, Arizona

• 81 Short Road, Gila County, Arizona

• Small tracts (Kohl’s Ranch), Gila County, Arizona

Any of Sellers’ interest in any other Real Property, except as specifically excluded in Section 2.2 of the Agreement.

Lease with Option to Purchase by and between ILX Resorts Incorporated and Indian Wells Partners for lease of property at 91 Portal Lane, Sedona, Arizona.

120 PORTAL LANE
SEDONA, ARIZONA 86336

LEGAL DESCRIPTION

PARCEL NO. 1:

A tract of land in HART’S VILLAGE SUBDIVISION, Sedona, Coconino County, Arizona according to Book 2 of Maps, page 54, records of Coconino County, Arizona, described as follows:

COMMENCING at the Southeast corner of Lot 4, Block 2, HART’S VILLAGE SUBDIVISION, the plat of which is recorded in Book 2, page 54, records of Coconino County, Arizona, then along the South line of said Lot 4, South 89° 17’ West, a distance of 161,96 feet to the POINT OF BEGINNING for this description;

thence continuing along said South lot line and its Westerly extension, South 89° 17’ West, a distance of 24.54 feet;

thence North 00° 34’ West, a distance of 4.90 feet;

thence South 89° 25’ West, a distance of 98.79 feet;

thence North 01° 11’ 37” West, a distance of 105.25 feet to the centerline for a private roadway, as described in instrument recorded in Docket 398, page 164, records of Coconino County, Arizona;

thence along said centerline from a tangent that bears South, 85° 48’ 18” East, along a curve to the left with a radius of 37.50 feet, through an angle of 06° 06’ 42”, a distance of 4.00 feet;

thence continuing along said centerline, North 88° 05’ East, a distance of 120.24 feet;

thence South 00° 43’ East, a distance of 112.73 feet to the POINT OF BEGINNING.

EXCEPTING AND RESERVING unto the United State pursuant to the provisions of Act of August 1, 1946 (60 Stat. 755), all uranium, thorium, or any other material which is or may be determined to be peculiarly essential to the production of fissionable materials whether or not of commercial value as set forth in Patent to said land.

PARCEL NO.2:

An easement for ingress and egress, as created by instrument recorded in Docket 1155, page 140, records of Coconino County, Arizona, over the following described property:

A parcel of land lying in Lot 4, Block 2, and abandoned Orchard Drive; HART’S VILLAGE SUBDIVISION, according to Book 2 of Maps, page 54, records of Coconino County, Arizona, in the Southeast quarter of Section 7, Township 17 North, Range 6 East, of the Gila and Salt River Base and Meridian, Coconino County, Arizona, described as follows:

BEGINNING at the Southwest corner of the Southeast quarter of the Southeast quarter of said Section 7;

thence North 01° 40’ 30” West (Basis of Bearing is a plat prepared by Leroy Gaberel which is a retracement of a portion of a plat prepared by Clyde Etter in June 1953), a distance of 206 feet;

thence North 88° 44’ 00” East; a distance of 72.87 feet;

thence South 06° 30’ 00” East, a distance of 2.94 feet;

thence North 89° 25’ 00” East, a distance of 184.10 feet;

thence South 00° 34’ 00” East, a distance of 4.90 feet;

thence North 89° 17’ 00” East, a distance of 24.54 feet;

thence North 00° 43’ 00” West, a distance of 113.56 feet to the TRUE POINT OF BEGINNING;

thence continuing North 00° 43’ 00” West, a distance of 12.5 feet;

thence North 88° 05’ 00” East, a distance of 5.43 feet;

thence South 66° 22’ 15” East, a distance of 28.98 feet;

thence North 88° 05’ 00” West, a distance of 31.84 feet to the TRUE POINT OF BEGINNING

PARCEL NO. 3:

An easement for ingress and egress, as created by instrument recorded in Docket 1155, page 147, records of Coconino County, Arizona, over the following described properties (a), (b) and (c), being in Lot 4, Block 2, and abandoned Orchard Drive, HART’S VILLAGE SUBDIVISION, according to Book 2 of Maps, page 54, records of Coconino County, Arizona:

(a) BEGINNING at the Southwest corner of the Southeast quarter of the Southeast quarter of Section 7, Township 17 North, Range 6 East, of the Gila and Salt River Base and Meridian, Coconino County, Arizona:

thence North 01° 40’ 30” West, (Basis of Bearing is a plat prepared Leroy Gaberel which is a retracement of a portion of a plat previously prepared by Clyde Etter in June 1953), a distance of 206.00 feet;

thence North 88° 44’ 00” East, a distance of 72.87 feet;

thence South 06° 30’ 00” East; a distance of 2.94 feet;

thence North 89° 25’ 00” East, a distance of 184.10 feet;

thence South 00° 34’ 00” East, a distance of 4.90 feet;

thence South 00° 49’ 18” East, a distance of 20.00 feet;

thence North 89° 17’ 00” East, a distance of 26.19 feet;

thence continuing North 89° 17’ 00” East, a distance of 16.07 feet to a point on the centerline of Los Abrigados Entry Road and the TRUE POINT OF BEGINNING;

thence along said centerline of said road, a distance of 16.00 feet each side of said centerline, North 09° 00’ 39” East, a distance of 17.50 feet to a point;

thence North 08° 30’ 49” East, a distance of 71.00 feet to a point on a curve;

thence Northeasterly along a curve to the right having a central angle of 40° 12’ 08” and a radius of 54.00 feet, along the arc of said curve, a distance of 38.03 feet;

thence North 42° 00’ 00” East along the centerline of Portal Drive, a distance of 60.00 feet more or less to the end of said easement.

EXCEPT that portion lying within the right-of-way for Soldier Wash Road, as dedicated on plat of said HART’S VILLAGE SUBDIVISION.

AND EXCEPT that portion lying outside the boundaries of that property described in instrument recorded in Docket 990, page 292, records of Coconino County, Arizona.

(b) BEGINNING at the Southwest corner of the Southeast quarter of the Southeast quarter of Section 7, Township 17 North, Range 6 East, of the Gila and Salt River Base and Meridian, Coconino County, Arizona;

thence North 01° 40’ 30” West (Basis of Bearing is a plat prepared by Leroy Gaberel which is a retracement of a portion of a plat prepared by Clyde Etter in June 1953), a distance of 206.00 feet;

thence North 88° 44’ 00” East, a distance of 72.87 feet;

thence South 06° 30’ 00” East, a distance of 2.94 feet;

thence North 89° 25’ 00” East a distance of 184.10 feet;

thence South 00° 34’ 00” East, a distance of 4.90 feet;

thence North 89° 17’ 00” East, a distance of 24.54 feet;

thence North 00° 43’ 00” West, a distance of 95.58 feet to the TRUE POINT OF BEGINNING;

thence continuing North 00° 43’ 00” West, a distance of 17.98 feet;

thence North 88° 05’ 00” East, a distance of 31.84 feet;

thence South 66° 22’ 15” East, a distance of 3.98 feet to a point on a curve;

thence Northeasterly along a curve to the left having a central angle of 55° 30’ 05” and a radius of 8.00 feet, along the arc of said curve a distance of 7.75 feet;

thence South 36° 46’ 38” East, a distance of 0.69 feet to a point on a curve;

thence Southwesterly along a curve to the left having a central angle of 35° 19’ 38” and a radius of 70.00 feet, along the arc of said curve, a distance of 43.16 feet;

thence North 84° 02’ 14” West, a distance of 0.73 feet;

thence North 08° 39’ 49” East, a distance of 8.63 feet;

thence North 66° 22’ 15” West, a distance of 21.65 feet to the TRUE POINT OF BEGINNING.

(c) BEGINNING at the Southwest corner of the Southeast quarter of the Southeast quarter of Section 7, Township 17 North, Range 6 East, of the Gila and Salt River Base and Meridian, Coconino County, Arizona;

thence North 01° 40’ 30” West (Basis of Bearing is a plat prepared by Leroy Gaberel which is a retracement of a portion of a plat prepared by Clyde Etter in June 1953), a distance of 206.00 feet;

thence North 88° 44’ 00” East, a distance of 72.87 feet;

thence South 06° 30’ 00” East, a distance of 2.94 feet;

thence North 89° 25’ 00” East, a distance of 184.10 feet;

thence South 00° 34’ 00” East, a distance of 4.90 feet;

thence North 89° 17’ 00” East, a distance of 24.54 feet to the TRUE POINT OF BEGINNING;

thence continuing North 00° 43’ 00” West, a distance of 34.80 feet;

thence North 89° 17’ 00” East, a distance of 7.05 feet to a point on a curve;

thence Northeasterly along a curve to the left having a central angle of 99° 13’ 22” and a radius of 3.00 feet, along the arc of said curve a distance of 5.19 feet;

thence South 08° 39’ 49” West, a distance of 38.27 feet;

thence South 89° 17’ 00” West, a distance of 5.10 feet.

PARCEL NO. 4:

An easement for water lines, as created by instrument recorded in Docket 411, page 706, records of Coconino County, Arizona, over a strip of land 10 feet wide in Lot 9, Block 1, HART’S VILLAGE

SUBDIVISION, according to Book 2 of Maps, page 54, records of Coconino County, Arizona, and bounded on the Southerly and Easterly sides by the following described line:

BEGINNING at a point on the Easterly line of said Lot 9, distant thereof South 12° 17’ East, a distance of 65.0 feet from the Northeasterly corner of said Lot 9;

thence South 67° 54’ West, a distance of 35.2 feet;

thence South 01° 26’ East, a distance of 37.0 feet to the Northerly line of a private road, as described in instrument recorded in Docket 398, page 164, records of Coconino County, Arizona.

PARCEL NO. 5:

An easement for ingress and egress, as created by instrument recorded in Docket 1155, page 175, records of Coconino County, Arizona, being in Lot 4, Block 2, HART’S VILLAGE SUBDIVISION, according to Book 2 of Maps, page 54, records of Coconino County, Arizona, over the following described property;

BEGINNING at the Southwest corner of the Southeast quarter of the Southeast quarter of Section 7, Township 17 North, Range 6 East, of the Gila and Salt River Base and Meridian, Coconino County, Arizona;

thence North 01° 40’ 30” West (Basis of Bearing is a plat prepared by Leroy Gaberel which is a retracement of a portion of a plat prepared by Clyde Etter in June 1953), a distance of 206.00 feet;

thence North 88° 44’ 00” East, a distance of 72.87 feet;

thence South 06° 30’ 00” East, a distance of 2.94 feet;

thence North 89° 25’ 00” East, a distance of 184.10 feet;

thence South 00° 34’ 00” East, a distance of 4.90 feet;

thence North 89° 17’ 00” East, a distance of 24.54 feet;

thence North 00° 43’00” West, a distance of 126.06 feet;

thence North 88° 05’ 00” East, a distance of 5.43 feet;

thence North 88° 05’ 00” East, a distance of 33.68 feet to the TRUE POINT OF BEGINNING;

thence North 70° 28’ 10” East, a distance of 11.40 feet;

thence continuing North 70° 28’ 10” East, a distance of 9.39 feet;

thence South 41° 21’ 00” East, a distance of 25.00 feet;

thence South 70° 28’ 10” West, a distance of 20.79 feet;

thence North 41° 21’ 00” West, a distance of 25.00 feet to the TRUE POINT OF BEGINNING.

EXCEPT that portion lying within the right-of-way for Soldier Wash Road, as dedicated on plat of said HART’S VILLAGE SUBDIVISION.

AND EXCEPT that portion lying outside the boundaries of that property described in instrument recorded in Docket 990, page 292, records of Coconino County, Arizona.

PARCEL NO. 6:

An easement for ingress, egress, water, gas, electric, telephone, cable TV, sewage lines, irrigation water and drainage as created by instrument recorded in Docket 1630, page 666, records of Coconino County, Arizona, over a portion of a private roadway for access, together with water, gas, electric, telephone, cable TV, sewage lines, irrigation water, drainage and any and all improvement which may be required by an public or private entity benefiting from this easement, being 12.50 feet wide and bounded on the South side by the following described line:

COMMENCING at the Southeast corner of Lot 4, HART’S VILLAGE SUBDIVISION, on the plat of which is recorded in Book 2, page 54, records of Coconino County, Arizona;

thence along the South line of said Lot 4, South 89° 17” West, a distance of 161.96 feet;

thence North 00° 43’ West, a distance of 112.73 feet to the centerline of said private roadway and POINT OF BEGINNING for said boundary line;

thence South 88° 05” West, a distance of 120.24 feet and along a curve to the right with a radius of 37.50 feet, through an angle of 06° 06’ 42”, a distance of 4.00 feet to the end of boundary line.

PARCEL NO. 7:

An easement for roadway and underground utilities, with provisions for irrigation waterway as recorded in Instrument No. 3012980, and described as follows:

A parcel of land situated in the HART’S VILLAGE SUBDIVISION according to the plat thereof recorded in Book 2, page 54, records of Coconino County, Arizona, and being located in Section 7, Township 17 North, Range 6 East, of the Gila and Salt River Base and Meridian, Coconino County, Arizona, said parcel being more particularly described as follows:

COMMENCING at a drill hole in concrete marking the Southeast corner of Lot 4, Block 2 of said HART’S VILLAGE SUBDIVISION;

thence North 41° 22’ 21” West, a distance of 159.50 feet along the Easterly line of said Lot 4 to a drill hole in top of concrete box culvert marking the POINT OF BEGINNING;

thence North 41° 22’ 21” West, a distance of 15.43 feet along the Easterly line of said Lot 4 to a 1/2 inch rebar with plastic cap stamped “LS 14184”;

thence South 58° 02’ 24” West, a distance of 9.81 feet to a concrete nail and brass tag stamped “LS 14184” set in top of sandstone wall;

thence South 88° 40’ 24” West, a distance of 124.20 feet to a 3/4 inch O.D. iron pipe with no identification;

thence South 88° 40’ 24” West, a distance of 23.76 feet to a point of curvature;

thence Northwesterly along a tangent curve to the right and concave to the Northeast having a radius of 25.00 feet and central angle of 60° 00’ 00” an arc distance of 26.18 feet to a point of reversed curvature;

thence along a tangent curve to the left and concave to the East having a radius of 25.00 feet and central angle of 240° 00’ 00” an arc distance of 104.72 feet to a point of tangency;

thence North 88° 40’ 24” East, a distance of 208.36 feet;

thence North 58° 02’ 24” East, a distance of 12.84 feet to said Easterly line of Lot 4;

thence North 41° 22’ 21” West, a distance of 15.21 feet to the POINT OF BEGINNING.

The basis of bearings for this description is North 89° 51’ 39” East, along the North line of the Northeast quarter of Section 18, Township 17 North, Range 6 East.

EXCEPTING any portion lying within Parcel NO. 1 above.

81 SHORT ROAD
PAYSON, ARIZONA 85541

LEGAL DESCRIPTION

Lot 81 of KOHL’S TONTO CREEK RANCH PLAT TWO, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map 139.

133 PORTAL LANE
SEDONA, ARIZONA 86336

LEGAL DESCRIPTION

PARCEL NO. 1:

A parcel of land being a portion of Lots 1 and 10 of Block I and a portion of FOREST DRIVE AND ORCHARD DRIVE, all in the HART’S VILLAGE SUBDIVISION according to the plat thereof recorded in Book 2 of Maps, page 54, records of Coconino County, Arizona, and being located in the Southeast quarter of Section 7, Township 17 North, Range 6 East of the Gila and Salt River Base and Meridian, Coconino County, Arizona, said parcel being more particularly described as follows:

COMMENCING at the Southeast corner of said Section 7 as marked by a B.L.M. brass capped pipe and from which the South quarter corner of said Section 7, as marked by a B.L.M. brass capped pipe, lies South 89°51’39” West (basis of bearing for this description) a distance of 2,634.18 feet; thence South 89°51’39” West, a distance of 1,317.09 feet to the Southwest corner of the Southeast quarter of the Southeast quarter of said Section 7; thence North 01°07’57” West (North 01°04’02” West rec.) a distance of 158.89 feet to a ¹/2” re-bar with plastic cap stamped “LS 14184” found at the POINT OF BEGINNING; thence North 00°43’14” West (North 01°04’02” West rec.) a distance of 29.90 (30.00 rec.) feet to a PK nail with no identification found in a masonry wall; thence North 89°22’46” East (North 89°16’39” East rec.) a distance of 74.22 (74.33 rec.) feet to a ¹/2” re-bar with brass tag stamped “LS 14184” (found); thence South 02°05’16” West (South 05°45’06” East rec.) a distance of 3.00 feet to a 1” O.D. pipe (found); thence South 89°54’50” East (South 89°25’ East rec.) a distance of 182.85 feet to a ³/4” O.D. pipe (found); thence South 00°04’39” East (South 00°34’ East rec.) a distance of 57.10 feet to ¹/2” re-bar with plastic cap stamped “LS 14184” (found); thence North 89°50’09” West (North 89°22’ West rec.) a distance of 176.78 feet to a concrete nail with brass tag stamped “LS 14184” (found); thence South 89°15’05” West (South 86°16’39” West rec.) a distance of 15.51 (15.50 rec.) feet to a concrete nail with brass tag stamped “LS 14184” (found); thence North 02°28’30” East (North 02°32’25” East rec.) a distance of 23.87 (23.84 rec.) feet to a ¹/2” re-bar with plastic cap stamped “LS 14184” (found); thence North 85°10’31” West (North 85°17’25” West rec.) a distance of 65.64 (65.58 rec.) feet to the POINT OF BEGINNING.

PARCEL NO. 2:

An easement for ingress and egress over Parcel No. 1 and over a parcel of land being a portion of the HART’S VILLAGE SUBDIVISION according to the plat thereof recorded in Book 2 of Maps, page 54, records of Coconino County

Arizona, and being located in the Southeast quarter of Section 7, Township 17 North, Range 6 East of the Gila and Salt River Base and Meridian, Coconino County, Arizona, said parcel being more particularly described as follows:

COMMENCING at the Southeast corner of said Section 7 as marked by a B.L.M. brass capped piep and from which the South quarter corner of said Section, as marked by a B.L.M. brass capped pipe, lies South 89°51’39” West (basis of bearing for this description) a distance of 2,634.18 feet; thence South 89°51’39” West, a distance of 1,317.09 feet to the Southwest corner of the Southeast quarter of the Southeast quarter of said Section 7; thence North 01°07’57” West (North 01°04’02” West rec.) a distance of 158.89 feet to a ¹/2” re-bar with plastic cap stamped “LS 14184” (found); thence South 85°10’31” East (South 85°17’23” East rec.) a distance of 65.64 (65.58 rec.) feet to a ¹/2” re-bar with plastic cap stamped “LS 14184” (found); thence South 02°28’30” West (South 02°32’25” West rec.) a distance of 23.87 (23.84 rec.) feet to a concrete nail with brass tag stamped “LS 14184” (found); thence North 89°15’05” East (North 89°16’39” West rec.) a distance of 15.51 (15.50 rec.) feet to a concrete nail with brass tag stamped “LS 14184” (found); thence South 89°50’09” East (South 89°48’35” East rec.) a distance of 176.78 (176.73 rec.) feet to a ¹/2” re-bar with plastic cap stamped “LS 14184” (found); thence North 00°04’39” West (North 00°11’34” West rec.) a distance of 35.32 feet to the POINT OF BEGINNING; thence North 00°04’39” West (North 00°11’34” West rec.) a distance of 16.74 feet; thence North 89°51’39” East, a distance of 32.95 feet; thence North 08°07’05” East, a distance of 63.94 feet to a Point of Curvature; thence Northeasterly along a tangent curve concave to the Southeast having a radius of 60.43 feet and a central angle of 36°09’59”, an arc distance of 38.14 feet to a Point of Tangency; thence North 44°17’04” East, a distance of 32.28 feet to a corner of the Los Abrigados boundary; thence South 41°22’21” East a distance of 25.51 feet along said Los Abrigados boundary; thence South 44°17’04” West, a distance of 30.35 feet to a Point of Curvature; thence Southwesterly along a tangent curve concave to the Southeast having a radius of 35.00 feet and central angle of 36°09’59”, an arc distance of 22.09 feet to a Point of Tangency; thence South 08°07’05” West, a distance of 82.41 feet; thence North 84°47’24” West, a distance of 55.72 feet to the POINT OF BEGINNING.

EXCEPT THE FOLLOWING AREAS SITUATED UPON SUCH REAL PROPERTY:

	(1)		The downstairs floor of the main structure currently comprised of the farmer’s market, offices and office space and vacant land comprising portions of Parcel No. 1; and
	(2)		The small auxiliary building located adjacent to the main structure comprising a portion of Parcel No. 1.

EXCEPTED AREAS OF LOS ABRIGADOS RESORT & SPA
160 PORTAL LANE
SEDONA, ARIZONA 86336

LEGAL DESCRIPTION

An undivided 7,800/8,925 fractional interest in the following described property:

A parcel of land situated in the Southeast quarter of the Southeast quarter of Section 7 and the Northeast quarter of Section 18, Township 17 North, Range 6 East of the Gila and Salt River Meridian in Coconino County, Arizona, including a portion of Lots 1 and 10, and all of Lot 11 in Block I, and a portion of Lot 4, and all of Lots 1, 2 and 3 in Block II, of HART’S VILLAGE SUBDIVISION, according to the plat thereof recorded in Book 2 of Maps, page 54 of the Coconino County Recorder’s Office, together with portions of Forest Drive, Black Road and Orchard Drive, abandoned by Order recorded July 25, 1955 in Book 78 of Official Records, page 23 and 24, all being more particularly described as follows:

COMMENCING at the Northeast corner of said Section 18 as marked by a B.L.M. brass capped pipe;

THENCE South 89° 51’ 39” West (South 89º 48’ West rec.) a distance of 261.99 (262.00 rec.) feet along the North line of said Section 18 to the Westerly right-of-way line of Arizona State Highway 179, being the TRUE POINT OF BEGINNING;

THENCE South 17° 50’ 29” West (South 18° 17’ West rec.) a distance of 452.29 (452.23 rec.) feet along said Westerly right-of-way line of Arizona State Highway 179 to a Point of Curvature;

THENCE Southwesterly along said Westerly right-of-way line of Arizona State Highway 179, being a curve concave to the Northwest having a central angle of 10° 48’ 11” chord bearing of South 23° 14’ 34.5” West and radius of 921.93 feet a distance of l73.83 (173.78 rec.) feet to a point;

THENCE North 61° 21’ 20” West (North 60° 55’ West rec.) a distance of 100.00 (100.00 rec.) feet to a point in Oak Creek;

THENCE South 38° 21’ 31” West (South 38° 48’ West rec.) a distance of 315.70 (315.71 rec.) feet to a point in Oak Creek;

THENCE South 46° 56” 20” East (South 46° 30’ East rec.) a distance of 100.00 (100.00 rec.) feet to a point on said Westerly right-of-way line of Arizona State Highway 179;

THENCE South 43º 03’ 40” West (South 43º 30’ West rec.) a distance of 121.37 (121.40 rec.) feet along said Westerly right-of-way line of Arizona State Highway 179 to a Point of Curvature

THENCE Southwesterly along said Westerly right-of-way line of Arizona State Highway 179 being a curve concave to the Southeast having a central angle of 18° 10’ 54”, chord bearing of South 33° 58’ 13” West and radius of 605.96 feet a distance of 192.29 (201.40 rec.) feet to a point on the following described line;

THENCE South 89° 42’ 41” West (West rec.) a distance of 108.01 (115 rec.) feet along a line lying 200.00 feet North of and parallel with the South line of the Northeast quarter of the Northeast quarter of said Section 18 to a point in Oak Creek;

THENCE North 31º 30’ 00” East (North 31° 30’ East rec.) a distance of 436.04 (430.00 rec.) feet to a point in Oak Creek;

THENCE South 83º 00’ 00” West (South 83° West rec.) a distance of 130.00 (125 rec.) feet to a point in Oak Creek;

THENCE South 78° 00’ 00” West a distance of 160.00 (160.5 plus or minus-rec.) feet to a point in Oak Creek;

THENCE South 44° 25’ 00” West a distance of 24.36 (16.33) rec.) feet to a point in Oak Creek;

THENCE North 11° 53’ 00” West a distance of 122.98 (120.59 rec.) feet to a point;

THENCE North 04° 30’ 00” West a distance of 180.60 feet to a point;

THENCE North 77° 27’ 00” West (North 77° 44’ West rec.) a distance of 564.08 feet to a Point of Curvature;

THENCE Northwesterly along a curve concave to the Northeast having a central angle of 27° 43’ 44” (27° 43’ 40” rec.), chord bearing of North 63° 35’ 08” West and radius of 261.07 (261.07 rec.) feet, a distance of 126.35 (126.3 rec.) feet to a point of non-tangency;

THENCE West (West rec.) a distance of 51.84 (41.85 rec.) feet to a point;

THENCE North 05° 20’ 14” East (North 05° 17’ East rec.) a distance of 54.50 (61.7 rec.) feet to a point;

THENCE North 34° 13’ 46” West (North 34° 17’ West rec.) a distance of 27.64 (26.3 rec.) feet to a point on the Southeasterly right-of-way line of Brewer Highway according to the plat thereof recorded in Book 2 of Maps, page 139 of the Coconino County Recorder’s Office;

THENCE North 58° 03’ 46” East (North 57° 28’ East rec.) a distance of 48.71 (44.3 rec.) feet along said Southeasterly right-of-way line of Brewer Highway to a point of Curvature;

THENCE Northeasterly along said Southeasterly right-of-way line of Brewer Highway, being a curve concave to the Northwest having a central angle of 43° 33’ 43” (43° 57’ rec.), chord bearing of North 36° 16’ 54.5” East and radius of 176.24 (176.24 rec.) feet, a distance of 134.00 (135.19 rec.) feet to a Point of Tangency;

THENCE North 14° 30’ 03” East (North 13° 31’ East rec.) a distance of 113.94 (109.18 rec.) feet along said Southeasterly right-of-way line of Brewer Highway to a point on the North line of said Section 18;

THENCE North 89° 51’ 39” East a distance of 352.42 feet along said North line of Section 18 to the Southwest corner of the Southeast quarter of the Southeast quarter of said Section 7;

THENCE North 01° 04’ 02” West (North 01° 40’ 30” West rec.) a distance of 158.79 feet along the West line of said Southeast quarter of the Southeast quarter of Section 7 to a point;

THENCE South 85° 17’ 23” East a distance of 65.58 feet to a point;

THENCE South 02° 32’ 25” West a distance of 23.84 feet to a point;

THENCE North 89° 16’ 39” East a distance of 15.50 feet to a point on the East line of said Lot 1 of Block I of the HART’S VILLAGE SUBDIVISON lying North 05° 45’ 06” West a distance of 8.20 feet from a 1/2 inch pipe found at the Southwest corner of Lot 10 of said Black I;

THENCE South 89° 48’ 35” East (South 89° 22’ East rec.) a distance of 176.73 feet to a point;

THENCE North 00° 11’ 34” West a distance of 52.03 feet to a point;

THENCE North 89° 51’ 39” East a distance of 1.50 feet to a point on the center line of Orchard Drive (presently abandoned) of said HARTS VILLAGE SUBDIVISION;

THENCE North 89° 51’ 39” East a distance of 23.04 feet along the North line (and its Westerly extension) of Lot 1 of Block II of said HARTS VILLAGE SUBDIVISON to a point;

THENCE North 00° 08’ 21” West (North 00° 43’ West rec.) a distance of 112.73 feet to a point on the center line of a private road easement described in Docket 930, page 406 of the Coconino County Recorder’s Office;

THENCE North 88° 39’ 39” East (North 88° 05’ East rec.) a distance of 46.79 feet along said center line of private road easement to a point;

THENCE North 58° 01’ 39” East (North 57° 27’ East rec.) a distance of 11.83 (13.52 rec.) feet along said center line of private road easement to the East line of Lot 4 of Block II of said Hart’s Village Subdivision;

THENCE South 41° 22’ 21” East (South 41° 21’ East rec.) a distance of 159.50 (159.22 rec.) feet to the North corner of Lot 3 of Block II of said Hart’s Village Subdivision;

THENCE South 47° 58’ 21” East a distance of 75.00 (75 rec.) feet to an angle point in the Northeasterly line of said Lot 3;

THENCE South 32° 50’ 18” East (South 32° 50’ East rec.) a distance of 154.77 feet along Northeasterly line (and its Southeasterly extension) of said Lot 3 to a point on the North line of said Section 18;

THENCE North 89° 51’ 39” East a distance of 0.31 feet along said North line of Section 18 to a point;

THENCE South 34° 46’ 21” East (South 34° 50’ East rec.) a distance of 160.69 feet to a point;

THENCE South 63° 10’ 57” West a distance of 198.38 feet to a point;

THENCE South 47° 58' 21" East a distance of 75.00 (75 rec.) feet to an angle point in the Northeasterly line of said Lot 3;
THENCE South 32° 50' 18" East (South 32° 50' East rec.) a distance of 154.77 feet along the Northeasterly line (and its Southeasterly extension) of said Lot 3 to a point on the North line of said Section 18;
THENCE North 89° 51' 39" East a distance of 0.31 feet along said North line of Section 18 to a point;
THENCE South 34° 46' 21" East (South 34° 50' East rec.) a distance of 160.69 feet to a point;
THENCE South 63° 10' 57" West a distance of 198.38 feet to a point;
THENCE South 00° 03' 39" West (South rec.) a distance of 71.38 feet to a point;
THENCE North 89° 51' 39" East (North 89° 48' East rec.) a distance of 322.58 feet to a point;
THENCE North 16° 01' 39" East (North 15° 58' East rec.) a distance of 304.70 (304.70 rec.) feet to a point on the North line of said Section 18;
THENCE North 89° 51' 39" East (North 89° 48' East rec.) a distance of 154.01 (153.93 rec.) feet to the TRUE POINT OF BEGINNING.

Basis of bearings is South 89° 51' 39" West along the North line of the Northeast quarter of said Section 18 as marked by B.L.M. brass capped pipes.

This legal description was prepared from an A.L.T.A. survey by Landmark Engineering & Surveying, Inc., (Job No. 83036-E) dated 12-21-87 and revised 1-12-88.

EXCEPT those undivided fractional interests which have been previously conveyed.

Small Tracts
Legal Description

A PARCEL OF LAND DESIGNATED AS SMALL TRACTS ACT SURVEY NO. 12-0067 LYING WITHIN SECTION 21, TOWNSHIP 11 NORTH, RANGE 12 EAST OF THE GILA AND SALT RIVER MERIDIAN, GILA COUNTY, ARIZONA AND FURTHER DESCRIBED AND DEPICTED IN THAT CERTAIN PLAT FILED JULY 26, 1999, AS MAP NO. 1768, FEE# 1999-11967, OFFICIAL RECORDS OF GILA COUNTY, ARIZONA.

CONTAINING 1.60 ACRES, MORE OR LESS.

EXHIBIT A

A PARCEL OF LAND DESIGNATED AS SMALL TRACTS ACT SURVEY NO. 12-0067 LYING WITHIN SECTION 21, TOWNSHIP 11 NORTH, RANGE 12 EAST OF THE GILA AND SALT RIVER MERIDIAN, GILA COUNTY, ARIZONA AND FURTHER DESCRIBED AND DEPICTED IN THAT CERTAIN PLAT FILED JULY 26, 1999, AS MAP NO. 1768, FEE# 1999-11967, OFFICIAL RECORDS OF GILA COUNTY, ARIZONA.

CONTAINING 1.60 ACRES, MORE OR LESS.

EXHIBIT A

A PARCEL OF LAND DESIGNATED AS SMALL TRACTS ACT SURVEY NO. 12-0067 LYING WITHIN SECTION 21, TOWNSHIP 11 NORTH, RANGE 12 EAST OF THE GILA AND SALT RIVER MERIDIAN, GILA COUNTY, ARIZONA AND FURTHER DESCRIBED AND DEPICTED IN THAT CERTAIN PLAT FILED JULY 26, 1999, AS MAP NO. 1768, FEE# 1999-11967, OFFICIAL RECORDS OF GILA COUNTY, ARIZONA.

CONTAINING 1.60 ACRES, MORE OR LESS.

Stand Alone Inventory

The following interests in stand alone inventory as further described on the attached schedules:

Inn at Los Abrigados		107.5 weeks
Kohl’s Ranch Lodge		22.5 weeks
Golden Eagle Resort		9 weeks
Los Abrigados Resort		193.5 weeks
VCA — South Bend		273.5 weeks
VCA — Tucson		51.5 weeks
The Carriage House		7 weeks

INVENTORY OWNED BY ILX RESORTS INCORPORATED

An undivided 107.5/510 fee simple interest in and to the real property described at Docket 1915, page 410, et seq., recorded September 13, 1996, in the official records of Coconino County, Arizona, subject to the general terms and conditions of the Membership Plan for The Inn at Los Abrigados, as such plan may be amended from time to time (the “Plan”), recorded November 25, 1997 at Docket 2045, page 001, official records of Coconino County, Arizona and attached hereto;

Together with all rights and privileges appurtenant thereto.

     Subject to the terms and conditions set forth in the Plan and subject to the specific terms and conditions set forth in the Plan with respect to the following types of Membership;

Unit Type:		107.5 Inn
Occupancy Period:		One Week for Each Membership Share
Seasonal Priority:		Prime
Annual Frequency:		Every Year
Unit Number:		Not Applicable

EXHIBIT A

PARCEL 1:

A PARCEL OF LAND SITUATED IN THE NORTHEAST QUARTER OF THE NORTHEAST QUARTER OF SECTION 18, TOWNSHIP 17 NORTH, RANGE 6 EAST OF THE GILA AND SALT RIVER BASE AND MERIDIAN, COCONINO COUNTY, ARIZONA, SAID PARCEL BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCING AT THE NORTHEAST CORNER OF SAID SECTION 18 AS MARKED BY A B.L.M. BRASS CAPPED PIPE AND FROM WHICH THE NORTH QUARTER CORNER OF SAID SECTION 18, ALSO MARKED BY A B.L.M. BRASS CAPPED PIPE, LIES SOUTH 89 DEGREES 51 MINUTES 39 SECONDS WEST (BASIS OF BEARINGS FOR THIS DESCRIPTION) A DISTANCE OF 2,634,18 FEET;

THENCE FROM SAID NORTHEAST CORNER OF SECTION 18, SOUTH 89 DEGREES 51 MINUTES 39 SECONDS WEST A DISTANCE OF 737.24 FEET ALONG THE NORTH LINE OF THE NORTHEAST QUARTER OF SAID SECTION 18 TO A POINT ON THE BOUNDARY LINE OF THE LOS ABRIGADOS RESORT;

THENCE SOUTH 34 DEGREES 46 MINUTES 21 SECONDS EAST A DISTANCE OF 160.69 FEET ALONG SAID BOUNDARY LINE OF THE LOS ABRIGADOS RESORT TO A 1/2” REBAR WITH PLASTIC CAP STAMPED “LS 14184” PREVIOUSLY SET AT THE POINT OF BEGINNING OF THE HEREIN DESCRIBED PARCEL;

THENCE LEAVING SAID BOUNDARY OF THE LOS ABRIGADOS RESORT, SOUTH 34 DEGREES 46 MINUTES 21 SECONDS EAST (SOUTH 34 DEGREES 43 MINUTES EAST PER DOCKET 422, PAGE 567 CCRO) A DISTANCE OF 107.42 FEET ALONG THE WESTERLY BOUNDARY OF TLAQUEPAQUE TO AN ANGLE POINT THEREIN;

THENCE SOUTH 12 DEGREES 21 MINUTES 39 SECONDS WEST (SOUTH 12 DEGREES 25 MINUTES WEST PER DOCKET 422, PAGE 567 CCRO) A DISTANCE OF 73.80 (73.80 PER DOCKET 422, PAGE 567 CCRO) FEET ALONG SAID WESTERLY BOUNDARY OF TLAQUEPAQUE TO 1/2” REBAR WITH PLASTIC CAP STAMPED “LS 14184” PREVIOUSLY SET ON THE BOUNDARY OF SAID LOS ABRIGADOS RESORT; THENCE SOUTH 89 DEGREES 51 MINUTES 39 SECONDS WEST A DISTANCE OF 222.58 FEET ALONG SAID BOUNDARY OF THE LOS ABRIGADOS RESORT TO A CONCRETE NAIL AND BRASS TAG STAMPED “LS 14184” PREVIOUSLY SET IN CONCRETE SIDEWALK;

THENCE NORTH 00 DEGREES 03 MINUTES 39 SECONDS EAST A DISTANCE OF 71.38 FEET ALONG SAID BOUNDARY OF THE LOS ABRIGADOS RESORT TO A CONCRETE NAIL AND BRASS TAG STAMPED “LS 14184” PREVIOUSLY SET IN CONCRETE SIDEWALK;

THENCE NORTH 63 DEGREES 10 MINUTES 57 SECONDS EAST A DISTANCE OF 198,38 FEET ALONG SAID BOUNDARY OF THE LOS ABRIGADOS RESORT TO THE POINT OF BEGINNING.

EXCEPTING THEREFROM ANY PORTION THEREOF DEED TO SAL SAGEV HOTEL CO. INC. AS RECORDED FEBRUARY 10, 1998 IN DOCKET 2067, PAGE 584.

PARCEL 2:

A NON — EXCLUSIVE EASEMENT OVER THE FOLLOWING DESCRIBED PROPERTY AS SET FORTH IN INSTRUMENT RECORDED FEBRUARY 22, 1994 IN DOCKET 1646, PAGE 182.

A PARCEL OF LAND BEING A PORTION OF THE HART’S VILLAGE SUBDIVISION ACCORDING TO THE PLAT THEREOF RECORDED IN BOOK 2 OF MAPS, PAGE 54 OF THE COCONINO COUNTY RECORDERS OFFICE AND A PORTION OF SECTION 18, TOWNSHIP 17 NORTH, RANGE 6 EAST OF THE GILA AND SALT RIVER BASE AND MERIDIAN, COCONINO COUNTY, ARIZONA, SAID PARCEL BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCING AT THE SOUTHEAST CORNER OF SAID SECTION 7 AS MARKED BY A BLM BRASS CAPPED PIPE AND FROM WHICH THE SOUTH QUARTER CORNER OF SAID SECTION 7, AS MARKED BY A BLM BRASS CAPPED PIPE, LIES SOUTH 89 DEGREES 51 MINUTES 39 SECONDS WEST (BASIS OF BEARINGS FOR THIS DESCRIPTION) A DISTANCE OF 2634.18 FEET;

THENCE SOUTH 89 DEGREES 51 MINUTES 39 SECONDS WEST A DISTANCE OF 1317.09 FEET TO THE SOUTHWEST CORNER OF THE SOUTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SAID SECTION 7;

THENCE NORTH 01 DEGREES 07 MINUTES 57 SECONDS WEST (NORTH 01 DEGREES 04 MINUTES 02 SECONDS WEST REC.) A DISTANCE OF 158.89 FEET TO A 1/2” REBAR WITH PLASTIC CAP STAMPED “LS 14184” (FOUND);

THENCE SOUTH 85 DEGREES 10 MINUTES 31 SECONDS EAST (SOUTH 85 DEGREES 17 MINUTES 23 SECONDS EAST REC.) A DISTANCE OF 65.64 (65.58 REC.) FEET TO A 1/2” REBAR WITH PLASTIC CAP STAMPED “LS 14184” (FOUND);

THENCE SOUTH 02 DEGREES 28 MINUTES 30 SECONDS WEST (SOUTH 02 DEGREES 32 MINUTES 25 SECONDS WEST REC.) A DISTANCE OF 23.87 (23.84 REC.) FEET TO A CONCRETE NAIL WITH BRASS TAG STAMPED “LS 14814” (FOUND);

THENCE NORTH 89 DEGREES 15 MINUTES 05 SECONDS EAST (NORTH 89 DEGREES 16 MINUTES 39 SECONDS EAST REC.) A DISTANCE OF 15.51 (15.50 REC.) FEET TO A CONCRETE NAIL WITH BRASS TAG STAMPED “LS 14184” (FOUND);

THENCE SOUTH 89 DEGREES 50 MINUTES 09 SECONDS EAST (SOUTH 89 DEGREES 48 MINUTES 35 SECONDS EAST REC.) A DISTANCE OF 176.78 (176.73 REC.) FEET TO A 1/2” REBAR WITH PLASTIC CAP STAMPED “LS 14184” (FOUND);

THENCE NORTH 00 DEGREES 04 MINUTES 39 SECONDS WEST (NORTH 00 DEGREES 11 MINUTES 34 SECONDS WEST REC.) A DISTANCE OF 35.32 FEET;

THENCE SOUTH 84 DEGREES 47 MINUTES 24 SECONDS EAST A DISTANCE OF 30.26 FEET TO THE POINT OF BEGINNING;

THENCE NORTH 08 DEGREES 07 MINUTES 05 SECONDS EAST A DISTANCE OF 83.70 FEET TO A POINT OF CURVATURE;

THENCE NORTHEASTERLY ALONG A TANGENT CURVE CONCAVE TO THE SOUTHEAST HAVING A RADIUS OF 60.43 FEET AND A CENTRAL ANGLE OF 36 DEGREES 09 MINUTES 59 SECONDS AN ARC DISTANCE OF 38.14 FEET TO A POINT OF TANGENCY;

THENCE NORTH 44 DEGREES 17 MINUTES 04 SECONDS EAST A DISTANCE OF 32.28 FEET TO A CORNER OF THE LOS ABRIGADOS BOUNDARY;

THENCE SOUTH 41 DEGREES 22 MINUTES 21 SECONDS EAST A DISTANCE OF 25.51 FEET ALONG THE SAID LOS ABRIGADOS BOUNDARY;

THENCE SOUTH 44 DEGREES 17 MINUTES 04 SECONDS WEST A DISTANCE OF 30.35 FEET TO A POINT OF CURVATURE;

THENCE SOUTHWESTERLY ALONG A TANGENT CURVE CONCAVE TO THE SOUTHEAST HAVING A RADIUS OF 35.00 FEET AND A CENTRAL ANGLE OF 36 DEGREES 09 MINUTES 59 SECONDS AN ARC DISTANCE OF 22.09 FEET TO A POINT OF TANGENCY;

THENCE SOUTH 08 DEGREES 07 MINUTES 05 SECONDS WEST A DISTANCE OF 144.37 FEET TO THE BEGINNING OF A CURVE;

THENCE SOUTHEASTERLY ALONG A NONTANGENT CURVE CONCAVE TO THE SOUTHWEST HAVING A RADIUS OF 52.91 FEET, CHORD BEARING OF SOUTH 27 DEGREES 09 MINUTES 46 SECONDS EAST AND CENTRAL ANGLE OF 70 DEGREES 20 MINUTES 25 SECONDS AN ARC DISTANCE OF 64.95 FEET TO A POINT OF NON TANGENCY;

THENCE SOUTH 71 DEGREES 06 MINUTES 03 SECONDS EAST A DISTANCE OF 34.40 FEET TO A POINT OF CURVATURE;

THENCE SOUTHEASTERLY ALONG A TANGENT CURVE CONCAVE TO THE SOUTHWEST HAVING A RADIUS OF 89.81 FEET AND A CENTRAL ANGLE OF 45 DEGREES 48 MINUTES 01 SECONDS AN ARC DISTANCE OF 71.79 FEET TO THE POINT OF TANGENCY;

THENCE SOUTH 25 DEGREES 18 MINUTES 02 SECONDS EAST A DISTANCE OF 167.11 FEET TO THE BEGINNING OF A CURVE;

THENCE SOUTHEASTERLY ALONG A NONTANGENT CURVE CONCAVE TO THE SOUTHWEST HAVING A RADIUS OF 93.91 FEET, CHORD BEARING OF SOUTH 12 DEGREES 40 MINUTES 20 SECONDS EAST AND A CENTRAL ANGLE OF 25 DEGREES 15 MINUTES 24 SECONDS AN ARC DISTANCE OF 41.40 FEET TO A POINT OF NONTANGENCY;

THENCE SOUTH 05 DEGREES 15 MINUTES 31 SECONDS EAST A DISTANCE OF 15.12 FEET TO THE NORTHWEST CORNER OF THE PHIL W. MORRIS PROPERTY;

THENCE SOUTH 00 DEGREES 03 MINUTES 39 SECONDS WEST A DISTANCE OF 71.38 FEET TO THE SOUTHWEST CORNER OF SAID PHIL W. MORRIS PROPERTY;

THENCE NORTH 89 DEGREES 56 MINUTES 21 SECONDS WEST A DISTANCE OF 25.24 FEET;

THENCE NORTH 00 DEGREES 02 MINUTES 38 SECONDS WEST A DISTANCE OF 86.39 FEET TO A POINT OF CURVATURE;

THENCE NORTHWESTERLY ALONG A TANGENT CURVE CONCAVE TO THE SOUTHWEST HAVING A RADIUS OF 69.91 FEET AND A CENTRAL ANGLE OF 25 DEGREES 15 MINUTES 24 SECONDS AN ARC DISTANCE OF 30.82 FEET TO A POINT OF TANGENCY;

THENCE NORTH 25 DEGREES 18 MINUTES 02 SECONDS WEST A DISTANCE OF 167.11 FEET TO A POINT OF CURVATURE;

THENCE NORTHWESTERLY ALONG A TANGENT CURVE CONCAVE TO THE SOUTHWEST HAVING A RADIUS OF 65.81 FEET AND A CENTRAL ANGLE OF 45 DEGREES 48 MINUTES 01 SECONDS AN ARC DISTANCE OF 52.61 FEET TO A POINT OF TANGENCY;

THENCE NORTH 71 DEGREES 06 MINUTES 03 SECONDS WEST A DISTANCE OF 65.48 FEET;

THENCE NORTH 18 DEGREES 53 MINUTES 57 SECONDS EAST A DISTANCE OF 12.87 FEET TO A POINT OF TANGENCY;

THENCE NORTHWESTERLY ALONG A NONTANGENT CURVE CONCAVE TO THE SOUTHWEST HAVING A RADIUS OF 20.91 FEET, CHORD BEARING OF NORTH 27 DEGREES 50 MINUTES 08 SECONDS WEST AND A CENTRAL ANGLE OF 99 DEGREES 41 MINUTES 30 SECONDS AN ARC DISTANCE OF 36.38 FEET TO A POINT OF NONTANGENCY;

THENCE NORTH 81 DEGREES 52 MINUTES 55 SECONDS WEST A DISTANCE OF 9.26 FEET;

THENCE NORTH 08 DEGREES 07 MINUTES 05 SECONDS EAST A DISTANCE OF 89.67 FEET TO THE POINT OF BEGINNING.

INVENTORY OWNED BY ILX RESORTS INCORPORATED

An undivided fractional fee simple interest in and to the real property described at Instrument No. 95-666429 in the official records of the Gila County Recorder, Gila County, Arizona and attached hereto, as corresponds to 22.5 Membership Shares as provided for in the Membership Plan for Kohl’s Ranch Vacation Club, as such plan may be amended from time to time (the “Plan”), recorded on April 24, 1995 at Instrument No. 95-664618.

Together with all rights and privileges appurtenant thereto.

     Subject to the terms and conditions set forth in the Plan and subject to the specific terms and conditions set forth in the Plan with respect to the following types of Membership:

Unit Types: Occupancy Period Seasonal Priority: Annual Frequency: Unit Number:		1 Christopher Creek, 6 Ponderosa, 4.5 Tonto Creek And 1 Zane Grey One Week Prime Every Year Not Applicable
Unit Types: Occupancy Period: Seasonal Priority: Annual Frequency: Unit Number:		1.5 Christopher Creek, 6.5 Ponderosa, 1 Tonto Creek And 1 Zane Grey One Week High Every Year Not Applicable

No. 336-1304144

EXHIBIT “A”

PARCEL NO. 1:

Track K of KOHL’S TONTO CREEK RANCH PLAT “A”, Map No. 356, as recorded in the office of the Gila County Recorder, Gila County, Arizona located in a portion of Homestead Entry Survey No. 567 lying within Section 21, Township 11 North, Range 12 East of the Gila and Salt River Base and Meridian, Gila County, Arizona, more particularly described as follows:

COMMENCING for a tie at Corner No. 3 of said H.E.S. No. 567;

thence South 11 degrees 30 minutes 40 seconds East, along the Westerly line of said H.E.S. No. 567, a distance of 751.85 feet to the Northwest corner of Lot 72 of said KOHL’S TONTO CREEK RANCH PLAT “A”;

thence leaving said Westerly line, North 72 degrees 31 minutes 30 seconds East, a distance of 108.23 feet to a point, said point being the intersection of the North line of said Lot 72 extended and the East right-of-way of SHORT ROAD, said point being the TRUE POINT OF BEGINNING;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 minutes 50 seconds West recorded), along the East right-of-way line of SHORT ROAD, a distance of 725.49 feet (729.60 feet recorded) to the intersection with the East right-of-way of STATE ROUTE 260, said intersection being a point on a curve concave to the Northwest having a radius of 880.00 feet, a radial line through said intersection bears South 62 degrees 57 minutes 16 seconds East;

thence Northeasterly 111.54 feet (107.43 recorded) along said curve through a central angle of 07 degrees 15 minutes 44 seconds to the beginning of a tangent curve to the left, said curve being parallel to and 50.00 feet right of the STATE ROUTE 260 centerline spiral curve having a rate of change in degree of curvature, a = 4,8627 degrees, a full spiral deviation angle of 04 degrees 54 minutes 00 seconds, and a spiral distance of 141.96 feet;

thence Northeasterly continuing along the East right-of-way line of STATE ROUTE 260, a distance of 146.24 feet along said curve to a point of tangency;

thence North 14 degrees 53 minutes 00 seconds East (North 14 degrees 49 minutes 10 seconds East recorded), continuing along the East right-of-way line of STATE ROUTE 260, a distance of 288.61 feet (287.62 feet recorded) to the intersection with the South right-of-way of BUENAGUA ROAD;

thence South 43 degrees 48 minutes 48 seconds East (South 44 degrees 15 minutes 10 seconds East recorded), along the South right-of-way of said BUENAGUA ROAD, a distance of 159.16 feet (157.67 feet recorded);

thence South 38 degrees 12 minutes 48 seconds East (South 38 degrees 39 minutes 10 seconds East recorded), continuing along the South right-of-way of said BUENAGUA ROAD, a distance of 223.06 feet;

thence South 29 degrees 35 minutes 48 seconds East (South 30 degrees 02 minutes 10 seconds East recorded), continuing along the South right-of-way of said BUENAGUA ROAD, a distance of 19.24 feet (27.57 feet recorded);

thence South 22 degrees 45 minutes 51 seconds East (South 23 degrees 02 minutes 00 seconds East recorded), leaving the South right-of-way of said BUENAGUA ROAD, a distance of 340.38 feet (332.09 feet recorded);

thence South 14 degrees 53 minutes 10 seconds East (South 15 degrees 19 minutes 10 seconds East recorded), a distance of 33.13 feet (33.15 feet recorded) to a point on the West right-of-way of BUENAGUA ROAD;

No. 336-1304144

thence South 05 degrees 03 minutes 48 seconds East (South 05 degrees 30 minutes 10 seconds East recorded), along the West right-of-way of said BUENAGUA ROAD, a distance of 271.76 feet (271.74 feet recorded);

thence South 02 degrees 06 minutes 48 seconds East (South 02 degrees 33 minutes 10 seconds East recorded), continuing along the West right-of-way of BUENAGUA ROAD, a distance of 36.58 feet;

thence South 30 degrees 43 minutes 12 seconds West (South 30 degrees 16 minutes 50 seconds West, recorded), leaving the West right-of-way of BUENAGUA ROAD, a distance of 192.50 feet (193.61 feet recorded);

thence South 72 degrees 35 minutes 33 seconds West (South 72 degrees 20 seconds 30 minutes West recorded), a distance of 233.32 feet;

thence South 72 degrees 31 minutes 30 seconds West (South 72 degrees 20 minutes 30 seconds West recorded), a distance of 123.20 feet (123.81 feet recorded) to the TRUE POINT OF BEGINNING;

EXCEPT that portion of Tract K, of KOHL’S TONTO CREEK RANCH PLAT “A”, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded In Map No. 356, located in a portion of Homestead Entry Survey No. 567 lying within Section 21, Township 11 North, Range 12 East of the Gila and Salt River Base and Meridian, Gila County, Arizona, being described as follows:

COMMENCING for a tie at Corner No. 3 of said H.E.S. No. 567;

thence South 11 degrees 32 minutes 34 seconds East, along the line between Corner No. 3 and No. 2 of said H.E.S. No. 567, a distance of 751.72 feet (752.78 feet recorded) to the Northwest corner of Lot 72, of KOHL’S TONTO CREEK RANCH, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 112;

thence North 72 degrees 34 minutes 09 seconds East (North 72 degrees 51 minutes East recorded), a distance of 107.81 feet (108.20 feet recorded) to a point being the Intersection of the Northerly line of said Lot 72 extended and the Easterly right-of-way of SHORT ROAD;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 minutes 50 seconds West recorded), along the Easterly line of said SHORT ROAD, a distance of 22.84 feet to the POINT OF BEGINNING;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 minutes 50 seconds West recorded), continuing along the Easterly line of SHORT ROAD, a distance of 64.98 feet;

thence North 76 degrees 23 minutes 24 seconds East, a distance of 78.14 feet;

thence South 13 degrees 29 minutes 59 seconds East, a distance of 20.00 feet;

thence South 76 degrees 23 minutes 24 seconds West, a distance of 39.09 feet;

thence South 13 degrees 36 minutes 36 seconds East, a distance of 44.94 feet;

thence south 76 degrees 23 minutes 24 seconds West, a distance of 41.38 feet to the POINT OF BEGINNING; and

EXCEPT that portion of Tract K, of KOHL’S TONTO CREEK RANCH PLAT “A”, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 356 located in a portion of Homestead Entry Survey No. 567 lying within Section 21, Township 11 North, Range 12 East of the Gila and Salt River Base and Meridian, Gila County, Arizona, being described as follows:

COMMENCING for a tie at Corner No. 3 of Said H.E.S No. 567;

No. 336-1304144

thence South 11 degrees 32 minutes 34 seconds East, along the line between Corner No. 3 and No. 2 of said H.E.S. No. 567, a distance of 751.72 feet (752.78 feet recorded) to the Northwest corner of Lot 72, of KOHL’S TONTO CREEK RANCH, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 112;

thence North 72 degrees 34 minutes 09 seconds East (North 72 degrees 51 minutes East recorded), a distance of 107.81 feet (108.20 feet recorded) to a point being the intersection of the Northerly line of said Lot 72 extended and the Easterly right-of-way of SHORT ROAD;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 minutes 50 seconds West recorded), along the Easterly line of said SHORT ROAD, a distance of 357.94 feet;

thence North 77 degrees 30 minutes 01 seconds East, a distance of 21.37 feet to the POINT OF BEGINNING;

thence continuing North 77 degrees 30 minutes 01 seconds East, a distance of 11.18 feet;

thence South 12 degrees 47 minutes 54 seconds East, a distance of 5.97 feet;

thence South 77 degrees 30 minutes 01 seconds West, a distance of 11.18 feet;

thence North 12 degrees 47 minutes 54 seconds West, a distance of 5.97 feet to the POINT OF BEGINNING; and

EXCEPT that portion of Tract K, of KOHL’S TONTO CREEK RANCH PLAT “A”, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 356 located in a portion of Homestead Entry Survey No. 567 lying within Section 21, Township 11 North, Range 12 East of the Gila and Salt River Base and Meridian, Gila County, Arizona, being described as follows:

COMMENCING for a tie at Corner No. 3 of said H.E.S. No. 567;

thence South 11 degrees 32 minutes 34 seconds East, along the line between Corner No. 3 and No. 2 of said H.E.S. No. 567, a distance of 751.72 feet (752.78 feet recorded) to the Northwest corner of Lot 72, of KOHL’S TONTO CREEK RANCH, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 112;

thence North 72 degrees 34 minutes 09 seconds East (North 72 degrees 51 minutes East recorded), a distance of 107.81 feet (108.20 feet recorded) to a point being the intersection of the Northerly line of said Lot 72 extended and the Easterly right-of-way of SHORT ROAD;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 minutes 50 seconds West recorded), along the Easterly line of said SHORT ROAD, a distance of 710.49 feet to the POINT OF BEGINNING;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 minutes 50 seconds West recorded), continuing along the Easterly line of said SHORT ROAD, a distance of 15.00 feet to the intersection with the Easterly right-of-way of ARIZONA STATE ROUTE 260;

thence South 62 degrees 57 minutes 16 seconds East, a distance of 10.00 feet;

thence South 30 degrees 13 minutes 14 seconds West, a distance of 11.75 feet to the POINT OF BEGINNING.

PARCEL NO. 2:

Tract “B”, of KOHL’S TONTO CREEK RANCH, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No, 112, described as follows:

COMMENCING at Corner No. 5 of said Homestead Entry Survey No. 567, said point being the TRUE POINT OF BEGINNING;

No. 336-1304144

thence South 22 degrees 45 minutes 51 seconds East (South 23 degrees 02 minutes 00 seconds East recorded), along the Easterly line of said H.E.S. No. 567, a distance of 288.53 feet to a point on the Northerly right-of-way of BUENAGUA ROAD;

thence North 38 degrees 12 minutes 48 seconds West (North 38 degrees 39 minutes 10 seconds West recorded), along said right-of-way, a distance of 145.99 feet;

thence North 43 degrees 48 minutes 48 seconds West (North 44 degrees 15 minutes 10 seconds West and North 43 degrees 43 minutes West recorded), continuing along said right-of-way a distance of 174.93 feet to the Intersection with the East right-of-way of STATE ROUTE 260;

thence North 14 degrees 53 minutes 00 seconds East (North 14 degrees 49 minutes 10 seconds East recorded), along said East right-of-way of STATE ROUTE 260, a distance of 4.06 feet to the beginning of a tangent curve to the rights, said curve being parallel to and 50.00 feet right of the STATE ROUTE 260 centerline spiral curve having a rate of change in degree in degree of curvature, a = 3.088 degrees, and a full spiral deviation angle of 04 degrees 36 minutes 00 seconds;

thence Northeasterly 22.21 feet (23.96 feet recorded) along said curve to the Intersection with the North line of H.E.S. No. 567;

thence South 89 degrees 50 minutes 00 seconds East (South 89 degrees 33 minutes East and North 89 degrees 55 minutes East recorded), along the North line of said H.E.S. No. 567, a distance of 93.01 feet (92.82 feet recorded) to the TRUE POINT OF BEGINNING.

PARCEL NO. 3:

That portion of Track K, of KOHL’S TONTO CREEK RANCH PLAT “A”, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 356, located in a portion of Homestead Entry Survey No. 567 lying within Section 21, Township 11 North, Range 12 East of the Gila and Salt River Base and Meridian, Gila County, Arizona, being described as follows:

COMMENCING for a tie at Corner No. 3 of said H.E.S. No. 567;

thence South 11 degrees 32 minutes 34 seconds East, along the line between Corner No. 3 and No. 2 of said H.E.S. No. 567, a distance of 751.72 feet (752.78 feet recorded) to the Northwest corner of Lot 72, of KOHL’S TONTO CREEK RANCH, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 112;

thence North 72 degrees 34 minutes 09 seconds East (North 72 degrees 51 minutes East recorded), a distance of 107.81 feet (108.20 feet recorded) to a point being the Intersection of the Northerly line of said Lot 72 extended and the Easterly right-of-way of SHORT ROAD;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 minutes 50 seconds West recorded), along the Easterly line of said SHORT ROAD, a distance of 22.84 feet to the POINT OF BEGINNING;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 minutes 50 seconds West recorded), continuing along the Easterly line of SHORT ROAD, a distance of 64.98 feet;

thence North 76 degrees 23 minutes 24 seconds East, a distance of 78.14 feet;

thence south 13 degrees 29 minutes 59 seconds East, a distance of 20.00 feet;

thence south 76 degrees 23 minutes 24 seconds West, a distance of 39.09 feet;

thence south 13 degrees 36 minutes 36 seconds East, a distance of 44.94 feet;

No. 336-1304144

thence South 75 degrees 23 minutes 24 seconds West, a distance of 41.38 feet to the POINT OF BEGINNING.

PARCEL NO: 4:

That portion of Tract K, of KOHL’S TONTO CREEK RANCH PLAT “A”, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 356 located in a portion of Homestead Entry Survey No. 567 lying within Section 21, Township 11 North, Range 12 East of the Gila and Salt River Base and Meridian, Gila Country, Arizona, being described as follows:

COMMENCING for a tie at Corner No. 3 of said H.E.S. No. 567;

thence South 11 degrees 32 minutes 34 Seconds East, along the line between Corner No. 3 and No. 2 of said H.E.S. No. 567, a distance of 751.72 feet (752.78 feet recorded) to the Northwest corner of Lot 72, of KOHL’S TONTO CREEK RANCH, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 112;

thence North 72 degrees 34 minutes 09 seconds East (North 72 degrees 51 minutes East recorded), a distance of 107.81 feet (108.20 feet recorded) to a point being the intersection of the Northerly line of said Lot 72 extended and the Easterly right-of-way of SHORT ROAD;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 minutes 50 seconds West recorded), along the Easterly line of said SHORT ROAD, a distance of 357.94 feet;

thence North 77 degrees 30 minutes 01 seconds East, a distance of 21.37 feet to the POINT OF BEGINNING;

thence continuing North 77 degrees 30 minutes 01 seconds East, a distance of 11.18 feet;

thence South 12 degrees 47 minutes 54 seconds East, a distance of 5.97 feet;

thence South 77 degrees 30 minutes 01 seconds West, a distance of 11.18 feet;

thence North 12 degrees 47 minutes 54 seconds West, a distance of 5.97 feet to the POINT OF BEGINNING.

PARCEL NO. 5:

That portion of Tract K, of KOHL’S TONTO CREEK RANCH PLAT “A”, according to the plat of record In the office of the County Recorder of Gila County, Artzona, recorded in Map No. 356 located in a portion of Homestead Entry Survey No. 567 lying within Section 21, Towneship 11 North, Range 12 East of the Gila and Salt River Base and Meridian, Gila County, Arizona, being described as follows:

COMMENCING for a tie at Corner No. 3 of said H.E.S. No. 567;

thence South 11 degrees 32 minutes 34 seconds East, along the line between Corner No. 3 and No. 2 of said H.E.S. No. 567, a distance of 751.72 feet (752.78 feet recorded) to the Northwest corner of Lot 72, of KOHL’S TONTO CREEK RANCH, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 112;

thence North 72 degrees 34 minutes 09 seconds East (North 72 degrees 51 minutes East recorded), a distance of 107.81 feet (108.20 feet recorded) to a point being the intersection of the Northerly line of said Lot 72 extended and the Easterly right-of-way of SHORT ROAD;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 minutes 50 seconds West recorded), along the Easterly line of said SHORT ROAD, a distance of 710.49 feet to the POINT OF BEGINNING;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 Minutes 50 second West recorded),

No. 336-1304144

continuing along the Easterly line of said SHORT ROAD, a distance of 15.00 feet to the Intersection with the Easterly right-of-way of ARIZONA STATE ROUTE 260;

thence South 62 degrees 57 minutes 16 seconds East, a distance of 10.00 feet;

thence South 30 degrees 13 minutes 14 seconds West, a distance of 11.75 feet to the POINT OF BEGINNING.

PARCEL NO. 6:

That portion of Tract “J”, of KOHL’S TONTO CREEK RANCH PLAT A, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 352 and re-recorded in Map No. 356, more particularly described as follows:

BEGINNING at a point in the West line of said Tract “J” (said West line being coincident with the West line of Homestead Entry Survey NO. 567) which point is South 02 degrees 51 minutes 02 seconds West, a distance of 95.00 feet from Corner NO, 4 of said H.E.S. NO. 567 in Section 21, Township 11 North, Range 12 East of the Gila and Salt River Base and Meridian, Gila County, Arizona;

thence continuing along said coincident line South 02 degrees 51 minutes 02 seconds West, a distance of 90.00 feet;

thence South 87 degrees 08 minutes 58 seconds East, a distance of 45.00 feet;

thence North 02 degrees 51 minutes 02 seconds East, a distance of 90.00 feet;

thence North 87 degrees 08 minutes 58 seconds West, a distance of 45.00 feet to the POINT OF BEGINNING.

INVENTORY OWNED BY ILX RESORTS INCORPORATED

All the real property, together with improvements, if any, situate, lying and being in the County of Larimer, State of Colorado, described on the attached and as follows:

*SEE LIST BELOW*

Timeshare Period No. *, Unit No. *, GOLDEN EAGLE RESORT, a Condominium, according to the Condominium and Timeshare Ownership Declaration for Golden Eagle Resort, a Condominium recorded August 31, 1987, at Reception No. 87050248, and re-recorded October 16, 1987, at Reception No. 87059791, and Amendment thereto as recorded February 13, 1990, at Reception No. 90006436, and according to the Condominium Map for Golden Eagle Resort recorded August 31, 1987, at Reception No. 87050249, and according to Supplement Map No. 1 recorded October 09, 1987, at Reception No. 87058593, and according to Supplement Map No. 2 recorded April 29, 1988, at Reception No. 88019333, and according to Supplement Map No. 3 recorded April 05, 1991, at Reception No. 91013942, and according to Supplement Map No. 4 recorded November 29, 1993, at Reception No. 93089144, and all amendments thereto, if any, in the Larimer County real property records

GOLDEN EAGLE RESORT

		Unit No.				Week				Season
1 Deluxe Blue/Red/White Unit Weeks:
			208				11			Red
3 Executive Blue/Red/White Unit Weeks:
			101				44			White
			303				49			White
			310				43			Red
4 Imperial Blue/Red/White Unit Weeks:
			106				45			White
			209				3			White
			209				18			Red
			209				37			Red
1 Studio Red/White Unit Weeks:
			001				31			Red

Commitment No. 61-0001972

Exhibit “A”

Parcel I

Units 001, 002, 003, 101, 102, 103, 104, 105, 106, 201, 202, 203, 204, 205, 206, 207, 208, 209, 210, 211, 212, 213, 214, 301, 302, 303, 304, 305, 306, 307, 308, 309, 310 and 311, Golden Eagle Resort, a condominium according to the Condominium and Time Share Ownership Declaration for Golden Eagle Resort, a condominium recorded August 31, 1987 at Reception No. 87050238 and re-recorded October 16, 1987 at Reception No. 87059791 and as amended by instrument recorded February 13, 1990 at Reception No. 90006436 and according to the Condominium Map for Golden Eagle Resort recorded August 31, 1987 at Reception No. 87050249 and Supplemental Map No. 1 recorded October 9, 1987 at Reception No. 87058593 and Supplemental Map No. 2 recorded April 29, 1988 at Reception No. 88019333 and according to Supplemental Map No. 3 recorded April 5, 1991 at Reception No. 91013942 and according to Supplemental Map No. 4 recorded November 29, 1993 at Reception No. 93089144 and any and all amendments and supplements thereto, all as recorded in Larimer County real property records.

Subject to the terms, conditions, provisions, obligations and restrictions of said Declaration.

County of Larimer, State of Colorado.

Parcel II

All time share periods as contained in Special Warranty Deed recorded November 27, 2002 at Reception No. 2002127977, Special Warranty Deed recorded April 20, 2004 at Reception No. 20040036928 and Special Warranty Deed recorded August 24, 2005 at Reception No. 20050071240 and Special Warranty Deed recorded July 13, 2007 at Reception No. 20070053761, Golden Eagle Condominium, a condominium according to the Condominium and Time Share Ownership Declaration for Golden Eagle Resort, a condominium recorded August 31, 1987 at Reception No. 87050238 and re-recorded October 16, 1987 at Reception No. 87059791 and as Amended by instrument recorded February 13, 1990 at Reception No. 90006436 and according to the Condominium Map for Golden Eagle Resort recorded August 31, 1987 at Reception No. 87050249 and Supplemental Map No. 1 recorded October 9, 1987 at Reception No. 87058593 and Supplemental Map No. 2 recorded April 29, 1988 at Reception No. 88019333 and according to Supplemental Map No. 3 recorded April 5, 1991 at Reception No. 91013942 and according to Supplemental Map No. 4 recorded November 29, 1993 at Reception No. 93089144 and any and all amendments and supplements thereto all as recorded in Larimer County real property records and subject to the following statement as set forth in Section 58 of said Declaration: “By accepting this Deed, the Grantee has become a Time Share Owner as defined in the Condominium and Time Share Ownership Declaration for Golden Eagle Resort”, a Condominium (the “Declaration”) recorded August 31, 1987 at Reception No. 87050248 and re-recorded October 16, 1987 at Reception No. 87059791 and as amended by instrument recorded February 13, 1990 at Reception No. 90006436 in the Larimer County, Colorado real property records, Grantee acknowledges that his only rights to use condominiums in Golden Eagle Condominiums are as set forth in the Declaration and in the Articles of Incorporation, Bylaws and Rules and Regulations of Golden Eagle Resort Condominium Association, Inc., as amended from time to time EXCEPTING therefrom any time share period previously conveyed or not provided for in the Declaration.

County of Larimer, State of Colorado.

INVENTORY OWNED BY LOS ABRIGADOS PARTNERS LIMITED PARTNERSHIP

An undivided 193,5/9,516 fee simple interest in and to the real property described at Docket 1738, page 236, et seq., in the official records of the Coconino County Recorder, Coconino County, Arizona and attached hereto.

Subject to the general terms and conditions set forth in the Membership Plan for Sedona Vacation Club at Los Abrigados, as such Plan may be amended from time to time (the “Plan”), recorded on January 11, 1995 at Docket 1738, page 236, and subject to the specific terms and conditions set forth in the Plan with respect to the following type of Membership:

		Unit Type:		2.5 Flagstaff, 180 Jerome, 8 Oak Creek, 2 Sedona, and 1 Stone House
		Annual Frequency:		Every Year
		Unit Number:		Not Applicable

Our No. 51000321

A Portion of the following described property:

AN UNDIVIDED 7,800/8,925 FRACTIONAL INTEREST IN THE FOLLOWING DESCRIBED PROPERTY:

A PARCEL OF LAND SITUATED IN THE SOUTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SECTION 7 AND THE NORTHEAST QUARTER OF SECTION 18, TOWNSHIP 17 NORTH, RANGE 6 EAST OF THE GILA AND SALT RIVER BASE AND MERIDIAN IN COCONINO COUNTY, ARIZONA, INCLUDING A PORTION OF LOTS 1 AND 10, AND ALL OF LOT 11 IN BLOCK 1, AND A PORTION OF LOT 4, AND ALL OF LOTS 1, 2, AND 3 IN BLOCK 2 OF HARTS VILLAGE SUBDIVISION, ACCORDING TO THE PLAT THEREOF RECORDED IN BOOK 2 OF MAPS, PAGE 54 OF THE COCONINO COUNTY RECORDERS OFFICE, TOGETHER WITH PORTIONS OF FOREST DRIVE, BLACK ROAD AND ORCHARD DRIVE, ABANDONED BY ORDER RECORDED JULY 25, 1956 IN BOOK 78 OF OFFICIAL RECORDS, PAGE 23 AND 24, ALL BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCING AT THE NORTHEAST CORNER OF SAID SECTION 18 AS MARKED BY A B.L.M BRASS CAPPED PIPE:

THENCE SOUTH 89 DEGREES 51 MINUTES 39 SECONDS WEST (SOUTH 89 DEGREES 48 MINUTES WEST REC.) A DISTANCE OF 261.99 (262.00 REC.) FEET ALONG THE NORTH LINE OF SAID SECTION 18 TO THE WESTERLY RIGHT-OF-WAY LINE OF ARIZONA STATE HIGHWAY 179, BEING THE TRUE POINT OF BEGINNING;

THENCE SOUTH 17 DEGREES 50 MINUTES 29 SECONDS WEST (SOUTH 18 DEGREES 17 MINUTES WEST REC.) A DISTANCE OF 452.29 (452.23 REC.) FEET ALONG SAID WESTERLY RIGHT-OF-WAY LINE OF ARIZONA STATE HIGHWAY 179 TO A POINT OF CURVATURE:

THENCE SOUTHWSETERLY ALONG SAID WESTERLY RIGHT-OF-WAY LINE OF ARIZONA STATE HIGHWAY 179, BEING A CURVE CONCAVE TO THE NORTHWEST HAVING A CENTRAL ANGLE OF 10 DEGREES 48 MINUTES 11 SECONDS CHORD BEARING OF SOUTH 23 DEGREES 14 MINUTES 34.5 SECONDS WEST AND RADIUS OF 921.93 FEET A DISTANCE OF 173.83 (173.78 REC.) FEET TO A POINT;

THENCE NORTH 61 DEGREES 21 MINUTES 20 SECONDS WEST (NORTH 60 DEGREES 55 MINUTES WEST REC.) A DISTANCE OF 100.00 (100.00 REC.) FEET TO A POINT IN OAK CREEK;

THENCE SOUTH 38 DEGREES 21 MINUTES 31 SECONDS WEST (SOUTH 38 DEGREES 48 MINUTES WEST REC.) A DISTANCE OF 315.70 (315.71 REC.) FEET TO A POINT IN OAK CREEK;

THENCE SOUTH 46 DEGREES 56 MINUTES 20 SECONDS EAST (SOUTH 46 DEGREES 30 MINUTES EAST REC.) A DISTANCE OF 100.00 (100.00 REC.) FEET TO A POINT ON SAID WESTERLY RIGHT-OF-WAY LINE OF ARIZONA STATE HIGHWAY 179; THENCE SOUTH 43 DEGREES 03 MINUTES 40 SECONDS WEST (SOUTH 43 DEGREES 30 MINUTES WEST REC.) A DISTANCE OF 121.37 (121.40 REC.) FEET ALONG SAID WESTERLY RIGHT-OF-WAY LINE OF ARIZONA STATE HIGHWAY 179 TO A POINT OF CURVATURE;

THENCE SOUTHWESTERLY ALONG SAID WESTERLY RIGHT-OF-WAY LINE OF ARIZONA STATE HIGHWAY 179 BEING A CURVE CONCAVE TO THE SOUTHEAST HAVING A CENTRAL ANGLE OF 18 DEGREES 10 MINUTES 54 SECONDS, CHORD BEARING OF SOUTH 33 DEGREES 58 MINUTES 13 SECONDS WEST AND RADIUS OF 605.96 FEET A DISTANCE OF 192.29 (201.40 REC.) FEET TO A POINT ON THE FOLLOWING DESCRIBE LINE;

THENCE SOUTH 89 DEGREES 42 MINUTES 41 SECONDS WEST (WEST REC.) A DISTANCE OF 108.01 (115 REC.) FEET ALONG A LINE LYING 200.00 FEET

Our No. 51000321

NORTH OF AND PARALLEL WITH THE SOUTH LINE OF THE NORTHEAST QUARTER OF THE NORTHEAST QUARTER OF SAID SECTION 18 TO A POINT IN OAK CREEK;

THENCE NORTH 31 DEGREES 30 MINUTES 00 SECONDS EAST (NORTH 31 DEGREES 30 MINUTES EAST REC.) A DISTANCE OF 436.04 (430.00 REC.) FEET TO A POINT IN OAK CREEK;

THENCE SOUTH 83 DEGREES 00 MINUTES 00 SECONDS WEST (SOUTH 83 DEGREES WEST REC.) A DISTANCE OF 130.00 (125 REC.) FEET TO A POINT IN OAK CREEK;

THENCE SOUTH 78 DEGREES 00 MINUTES 00 SECONDS WEST A DISTANCE OF 160.00 (160.5 PLUS OR MINUS REC.) FEET TO A POINT IN OAK CREEK;

THENCE SOUTH 44 DEGREES 25 MINUTES 00 SECONDS WEST A DISTANCE OF 24.36 (16.33) REC.) FEET TO A POINT IN OAK CREEK;

THENCE NORTH 11 DEGREES 53 MINUTES 00 SECONDS WEST A DISTANCE OF 122.98 (120.59 REC.) FEET TO A POINT;

THENCE NORTH 04 DEGREES 30 MINUTES 00 SECONDS WEST A DISTANCE OF 180.60 FEET TO A POINT;

THENCE NORTH 77 DEGREES 27 MINUTES 00 SECONDS WEST (NORTH 77 DEGREES 44 MINUTES WEST REC. ) A DISTANCE OF 564.08 FEET TO A POINT OF CURVATURE;

THENCE NORTHWESTERLY ALONG A CURVE CONCAVE TO THE NORTHEAST HAVING A CENTRAL ANGLE OF 27 DEGREES 43 MINUTES 44 SECONDS (27 DEGREES 43 MINUTES 40 SECONDS REC.), CHORD BEARING OF NORTH 63 DEGREES 35 MINUTES 08 SECONDS WEST AND RADIUS OF 261.07 (261.07 REC.) FEET, A DISTANCE OF 126.35 (126.3 REC.) FEET TO A POINT OF NON - TANGENCY;

THENCE WEST (WEST REC.) A DISTANCE OF 51.84 (41.85 REC.) FEET TO A POINT;

THENCE NORTH 05 DEGREES 20 MINUTES 14 SECONDS EAST (NORTH 05 DEGREES 17 MINUTES EAST REC.) A DISTANCE OF 54.50 (61.7 REC.) FEET TO A POINT;

THENCE NORTH 34 DEGREES 13 MINUTES 46 SECONDS WEST (NORTH 34 DEGREES 17 MINUTES WEST REC.) A DISTANCE OF 27.64 (26.3 REC.) FEET TO A POINT ON THE SOUTHEASTERLY RIGHT-OF-WAY LINE OF BREWER HIGHWAY ACCORDING TO THE PLAT THEREOF RECORDED IN BOOK 2 OF MAPS, PAGE 139 OF THE COCONINO COUNTY RECORDERS OFFICE;

THENCE NORTH 58 DEGREES 03 MINUTES 46 SECONDS EAST (NORTH 57 DEGREES 28 MINUTES EAST REC.) A DISTANCE OF 48.17 (44.3 REC.) FEET ALONG SAID SOUTHEASTERLY RIGHT-OF-WAY LINE OF BREWER HIGHWAY TO A POINT OF CURVATURE;

THENCE NORTHEASTERLY ALONG SAID SOUTHEASTERLY RIGHT-OF-WAY LINE OF BREWER HIGHWAY, BEING A CURVE CONCAVE TO THE NORTHWEST HAVING A CENTRAL ANGLE OF 43 DEGREES 33 MINUTES 43 SECONDS (43 DEGREES 57 MINUTES REC.), chord bearing of North 36 Degrees 16 Minutes 54.5 Seconds East and radius of 176.24 (176.24 rec.) feet, a distance of 134.00 (135.19 rec.) feet along said Southeasterly right-of-way line of Brewer Highway to a point on the North line of said Section 18,

THENCE North 89 Degrees 51 Minutes 39 Seconds East a distance of 352.42 feet along said North line of Section 18 to the Southwest corner of the Southeast quarter of the Southeast quarter of said Section 7;

THENCE North 01 Degrees 04 Minutes 02 Seconds (North 01 Degrees 40 Minutes 30 Seconds West rec. ) a distance of 158.79 feet along the West line of said Southeast quarter of the Southeast quarter of Section 7 to a point ;

THENCE South 85 Degrees 17 Minutes 23 Seconds East a distance of 65.58 feet to a point;

Our No. 51000321

THENCE South 02 Degrees 32 Minutes 25 Seconds West a distance of 23.84 feet to a point;

THENCE North 89 Degrees 16 Minutes 39 Seconds East a distance of 15.50 feet to a point on the East line of said Lot 1 of Block I of the HART’S VILLAGE SUBDIVISION lying North 05 Degrees 45 Minutes 06 Seconds West a distance of 8.20 feet from a 1/2 inch pipe found at the Southwest corner of Lot 10 of said Block I;

THENCE South 89 Degrees 48 Minutes 35 Seconds East (South 89 Degrees 22 Minutes East rec.) a distance of 176.73 feet to a point;

THENCE North 00 Degrees 11 Minutes 34 Seconds West a distance of 52.03 feet to a point;

THENCE North 89 Degrees 51 Minutes 39 Seconds East a distance of 1.50 feet to a point on the center line of Orchard Drive (presently abandoned) of said HART’S VILLAGE SUBDIVISION;

THENCE North 89 Degrees 51 Minutes 39 Seconds East a distance of 23.04 feet along the North line (and it’s Westerly extension) of Lot I of Block II of said HART’S VILLAGE SUBDIVISION to a point;

THENCE North 00 Degrees 08 Minutes 21 Seconds West (North 00 Degrees 08 minutes 21 Seconds West (North 00 Degrees 43 Minutes West rec.) a distance of 112.73 feet to a point on the center line of a private road easement described in Docket 930, Page 406 of the Coconino County Recorder’s Office;

THENCE North 88 Degrees 39 Minutes 39 Seconds East (North 88 Degrees 05 Minutes East rec.) a distance of 46.79 feet along said center line of a private road easement to a point;

THENCE North 58 Degrees 01 Minutes 39 Seconds East (North 57 Degrees 27 Minutes East rec.) a distance of 11.83 (13.52 rec.) feet along said center line of private road to the East line of Lot 4 Block II of said Hart’s village Subdivision;

THENCE South 41 Degrees 22 Minutes 21 Seconds East (South 41 Degrees 21 Minutes East rec.) a distance of 159.90 (159.22 rec.) feet to the North corner of Lot 3 of Block II of said Hart’s Village Subdivision;

THENCE South 47 Degrees 58 Minutes 21 Seconds East a distance of 75.00 (75 rec.) feet to an angle point in the Northeasterly line of said Lot 3;

THENCE South 32 Degrees 50 Minutes 18 Seconds East (South 32 Degrees 50 Minutes East rec.) a distance of 154.77 feet along the Northeasterly line (and it’s Southeasterly extension) of said Lot 3 to a point on the North line of said Section 18;

THENCE North 89 Degrees 51 Minutes 39 Seconds East a distance of 0.31 feet along said North line of Section 18 to a point;

THENCE South 34 Degrees 46 Minutes 21 Seconds East (South 34 Degrees 50 Minutes East rec) a distance of 160.69 feet to a point;

THENCE South 63 Degrees 10 Minutes 57 Seconds West a distance of 198.38 feet to a point;

THENCE South 00 Degrees 03 Minutes 39 Seconds West (South rec.) a distance of 71.38 feet to a point;

THENCE North 89 Degrees 51 Minutes 39 Seconds East (North 89 Degrees 48 Minutes East rec.) a distance of 322.58 feet to a point;

THENCE North 16 Degrees 01 Minutes 39 Seconds East (North 15 Degrees 58 Minutes East rec.) A distance of 304.70 (304.70 rec.) feet to a point on the North line of said Section 18;

THENCE North 89 Degrees 51 Minutes 39 Seconds East (North 89 Degrees 48 Minutes East rec.) a distance of 154.01 (153.93 rec.) feet to the

Our No. 51000321

TRUE POINT OF BEGINNING.

EXCEPTING THEREFROM any portion of the above described property conveyed to The State of Arizona, by and through it’s Department of Transportation in Warranty Deed (s) recorded March 1, 2007 in Instrument No. 3427878 & 3427879.

Basis of bearings is South 89 Degrees 51 Minutes 39 Seconds West along the North line of the Northeast quarter of said Section 18 as marked by B.L.M. brass capped pipes.

This legal description was prepared by A.L.T.A. survey by Landmark Engineering & Surveying, Inc., (Job No. 83036-E) dated 12-21-87 and revised 1-12-88.

INVENTORY OWNED BY VCA SOUTH BEND INCORPORATED

     An undivided 1,914.5/31,304 fee simple interest in the real property described at Document No. 9444622, official records of St. Joseph County, Indiana and attached hereto, subject to the general terms and conditions set forth In the Membership Plan for Varsity Clubs of America — South Bend Chapter, as such plan may be amended from time to time (the “Plan”), recorded December 2, 1994 at Document No. 9444622 in said records;

Together with all right and privileges appurtenant thereto.

Subject to the specific terms and conditions set forth in the Plan with respect to the following types of membership in the Club:

VARSITY CLUBS OF AMERICA — SOUTH BEND CHAPTER

Occupancy Period:		273.5 separate Full Weeks
		(1,914.5 fractional interest)
Annual Frequency:		Each Week Every Year

Number of Weeks/Unit Type/Seasonal Priority:

52 Weeks — One Bedroom — Freshman

5 Weeks — One Bedroom — Junior

43.5 Weeks — One Bedroom — Sophomore

142 Weeks — One Bedroom — Senior

Weeks — Two Bedroom — Senior

Schedule A

EXHIBIT A

PARCEL I: That part of the West half of the Southeast Quarter of the Southeast Quarter of Section 33, Township 38, North, Range 3 East, City of Mishawaka, St. Joseph County, Indiana which is described as: From the South Quarter Post of said Section measure North 89°12’23” East along the South line of said Section, 1323.58 feet to the Southwest corner of the Southeast Quarter of said Section and North 00°24’02” East along the West line East ¹/2, Southeast Quarter of the Southeast Quarter of said Section,410.29 feet to a Found iron marking a point on the centerline of a 110.00 foot wide Indiana and Michigan Electrical Easement (North 00°00’00” East, 411.20, record) and North 89°19’55” East along said centerline, 134.24 feet (North 89°35’42” East, record) for the POINT OF BEGINNING of this description; thence North 89°19’55” East, 523.86 feet (North 89°36’42” East, 527.75 feet, record) to a Found Iron; thence South 00°06’47” East along the East line of the Southeast Quarter of the Southeast Quarter of said Section, 353.78 feet (South 00°01’00” West 334.18 feet, record) to a point on the North Right of Way line of Edison Lakes Parkway; thence South 89°12’23” West Parallel with and 55.0 feet North of the South line of said Section 33,424.79 feet (South 89°25’03” West, record); thence North 45°30’06” West 5.35 feet; thence North 00°35’51” West, 43.75 feet; thence South 89°24’09” West 17.24 feet to a point on the Easterly right of way line of Main street; thence around a 858.51 foot radius curve to the left an arc distance of 276.15 feet to the end of a chord which bears North 13°07’37” West and having a distance of 274.97 feet; thence North 22°20’32” west, 42.58 feet to the POINT OF BEGINNING.

PARCEL II: That part of the West Half of the Southeast Quarter of the Southeast Quarter of Section 33, Township 38 North, Range 3 East, city of Mishawaka, St. Joseph county, Indiana which is described as: From the South Quarter Post of said Section measure North 89°12’23” East along the South line of the said Section 1323.58 feet to the Southwest corner of the Southeast Quarter of said section and North 00°24’02” East along the West line of the Southeast Quarter of the Southeast Quarter of said Section 410.29 feet to a Found Iron marking a point on the centerline of a 110.00 foot wide Indiana and Michigan Electrical Easement (North 00°00’00” East, 411.20 feet, record) and North 89°19’55” East along said centerline 134.24 feet (North 89°35’42” East, record) and South 22°20’32” East 41.58 feet and South 13°07’37” East, 274.97 feet for the POINT OF BEGINNING of this description; thence around a 858.51 foot radius curve to the Right an Arc distance of 27.63 feet to the end of a chord which bears South 02°59’24” East and having a distance of 27.63 feet; thence South 45°30’06” East, 22.79 feet; thence North 00°35’51” West, 43.75 feet; thence South 89°24’09” West,17.24 feet to the POINT OF BEGINNING.

PARCEL III: That part of the East Half of the Southeast Quarter of the Southeast Quarter of Section 33, Township 38 North, Range 3 East, City Mishawaka, St. Joseph county, Indiana which is described as; From Harrison Monument in a Monument Box marking the Southeast corner of said Section measure South 89°12’23” West along the South line of said Section, 661.79 feet to the Southeast corner of the East Half of the Southeast Quarter of the Southeast Quarter of said Section and North 00°06’47” West, 55.00 feet for the POINT OF BEGINNING of this description; thence North 00°06’47” West along the West line of the East half of the Southeast Quarter of the southeast Quarter of said Section 195.00 feet; thence North 89°12’23” East Parallel with the South line of Section 33.86.00 feet; thence South 00°06’47” East, 195.00 feet; thence South 89°12’23” West parallel with and 55.00 feet North of the South line of said Section, 86.00 feet to the POINT OF BEGINNING.

INVENTORY OWNED BY VCA TUCSON INCORPORATED

     An undivided 360.5/21,840 fee simple interest in and to the real property described at Docket 10594, page 1981, et seq., in the official records of Pima County, Arizona and attached hereto, as provided for in the Membership Plan for Varsity Clubs of America — Tucson Chapter, as such plan may be amended from time to time (the “Plan”), recorded on July 24, 1997 at said Docket and page at Sequence No. 97116900.

     Subject to the terms and conditions set forth in the Plan and subject to the specific terms and conditions set forth in the Plan with respect to the following types of Membership:

Membership Category:		Vacation
Unit Types:		2.5 Studio, 4.5 — 1 Bedroom
Occupancy Period:		One Week
Annual Frequency :		Every Year
Unit Number:		Not Applicable
Membership Category:		Gem
Unit Type:		36 — 1 Bedroom and 8.5 — 2 Bedroom
Occupancy Period:		One Week
Annual Frequency:		Every Year
Unit Number:		Not Applicable

EXHIBIT A

Lots 3, 4, 5, 11 and the South 60 feet of Lot 6, in Block 15, of Speedway Park Addition, as shown by map recorded in Book 4 of Maps and Plats at Page 95, Pima County, Arizona.

EXCEPT the following described parcels I, II, III, and IV:

Parcel I:

That portion lying within widened Speedway as established by Resolution recorded in Docket 142 at Page 66 and shown in Plat recorded in Book 4 of Road Maps, at Page 80.

Parcel II:

That portion conveyed to the City of Tucson for street right-of-way by Deed recorded in Docket 3098 at Page 1.

Parcel III:

That portion acquired by the City of Tucson for public street by Order recorded in Docket 7996 at Page 1651.

Parcel IV:

That portion dedicated by the city of Tucson as right-of-way by Ordinance No. 7966 recorded in Docket 9457 at Page 730.

INVENTORY OWNED BY GENESIS INVESTMENT GROUP, INC.

     All that certain parcel of real property situated in Clark County, State of Nevada, more particularly described as follows:

THE NUMBER OF ONE NINETY-THIRD (1/93^rd) UNIDIVIDED INTERESTS AS TENANTS IN COMMON IN AND UNTO THE CONDOMINIUM UNIT NUMBERS SET FORTH IN EXHIBIT “A-1” WITHIN THE PROJECT KNOWN AS THE CARRIAGE HOUSE AND MORE PARTICULARLY DESCRIBED AS FOLLOWS:

UNIT (See Below) of the Amended Plat of THE CARRIAGE HOUSE, as the same is established and identified in the Plan of Condominium filed pursuant to the provisions of NRS 117.020, recorded March 5, 1974, in Book 16 of Plats, at Page 71, Official Records, Clark County, Nevada, and as defined in that certain Declaration of Restrictions recorded March 5, 1974, as Instrument No. 365570, in Book 406, Official Records, Clark County, Nevada, and more particularly described by and subject to the First Supplemental of the Declaration of Condominium of Carriage House Condominium recorded in the Official Records of Office of the County Recorder of Clark County, Nevada, in Book 1883 as Document No. 1842655, as amended (“Declaration”).

EXCEPTING FROM SUCH INTEREST, the exclusive right to use and occupy the specific Condominium Unit to which such Timeshare Interest attaches and reserving unto the Declarant, its successors and assigns, all those certain easements referred to in the aforesaid Declaration.

TOGETHER WITH the right to use and occupy the type of Unit designated during the Season (“Designated Season”) as each are further defined and set forth in the contract between the Developer from whom GRANTOR’s predecessors took title and in the current Rules and Regulations of the Carriage House Timeshare Association.

TOGETHER and with all the rights and privileges and subject to the covenants, conditions, easements and restrictions set forth in the said Declaration and the By-Laws, and the Rules and Regulations of the Carriage House Timeshare Association, Inc., as each of those documents may be amended from time to time.

Account No.: See Below for account numbers.

Carriage
House
Account #		Type				Season
16829		1 Bed Mst VP				Silver
14421		1 Bed Mst VP				Gold
14422		1 Bed Mst VP				Gold
15736		1 Bed Mst VP				Bronze
16592		1 Bed Mst VP				Gold
14877		1 Bed Mst VP				Gold
70597		1 Bed Mst VP				Gold

EXHIBIT A-8
Rights Documents

(Attached)

Rights Documents

To the extent assignable, any and all rights of Sellers as Declarant, Developer, and/or Seller (as defined in the applicable plan or declaration) arising under the following:

	•		Premiere Vacation Club Membership Plan (Restated), recorded in the Official Records of the Maricopa County Recorder on February 15, 2008 as Entry No. 2008-0133225, as amended
	•		Varsity Clubs of America Tucson Chapter Restated Membership Plan, recorded in the Official Records of the Maricopa County Recorder on January 21, 1998 as Docket No. 10716, at Page 683, Sequence No. 98010251, as amended
	•		Declaration of Covenants, Conditions and Restrictions for The Inn at Los Abrigados, recorded in the Official Records of Coconino County on November 25, 1997 as Instrument No. 97-33921, Docket 2045, at Page 001, as amended
	•		Kohl’s Ranch Vacation Club Membership Plan (Restated), recorded in the Official Records of the Gila County Recorder on October 29, 2002 as Document Id. 2002-016942, as amended
	•		Varsity Clubs of America South Bend Chapter Membership Plan (Restated), recorded in the Official Records of the St. Joseph County Recorder on July 25, 2007 as Entry No. 0729204, as amended
	•		Sedona Vacation Club Membership Plan (Restated), recorded in the Official Records of Coconino County on October 24, 2002 as Entry No. 3166134, as amended
	•		Condominium and Time Share Ownership Declaration for Golden Eagle Resort, a Condominium, recorded in the Official Records of the Larimer County Recorder on August 31, 1987 as Receipt No. 87050248, as amended
	•		Such documents and instruments and any amendments relating to the operation, organization, control or development of the real property described in the documents and instruments referred to above.

Trade Names and Trademarks

     Any of Seller’s rights and interests in the trade names and marks more fully described on the attached schedule.

Any of Seller’s rights and interests, to the extent they exist and including non-exclusive rights, in the following names Seller has used in the course of its business:

	•		Los Abrigados Resort & Spa
	•		The Inn at Los Abrigados
	•		Kohl’s Ranch Lodge
	•		Varsity Clubs of America
	•		Varsity Clubs — South Bend
	•		Varsity Clubs — Tucson
	•		The Stadium Bar and Grill
	•		Club Pet
	•		Sedona Vacation Club
	•		Kohl’s Ranch Vacation Club
	•		Premiere Vacation Club at the Roundhouse
	•		The View Restaurant
	•		Zane Grey Steakhouse (and Saloon)
	•		On the Rocks Bar and Grill
	•		The Celebrity Room
	•		First Piggy
	•		Celebrity House
	•		Winner’s Circle

The following names are owned by third parties and Sellers do not purport to transfer any interest in such names owned by such third parties. Sellers do not believe that they have any rights in such names.

	•		Premiere Vacation Club
	•		PVC
	•		Premiere Vacation Club at Bell Rock
	•		Sea of Cortez Premiere Vacation Club
	•		The Golden Eagle Resort
	•		The Carriage House
	•		Rancho Mañana
	•		The Roundhouse Resort
	•		Scottsdale Camelback Resort

Any of Seller’s rights and interests in the name ILX Resorts Incorporated but only after Seller ceases to operate as a business.

TradeID

Status

Company

Name/Mark

Jurisdiction

DueDate

Registration

Notes

TR006

A

ILX

ILX PREMIERE VACATION CLUB

FEDERAL REG. NO. 2,601,595

7/30/2012

7/30/2002

RENEWAL APPLICATION DUE BY 7/30/2012

TR007

A

ILX

ILX RESORTS & DESIGN

FEDERAL REG. NO. 2,340,961

6/6/2019

4/11/2000

AFFIDAVIT OF CONTINUED USE — 10 YEAR RENEWAL DUE BY 4/11/2006; RENEWAL APPLICATION BY 4/10/2010

TR008

A

LAPLP

POOL CUES CROSSING THREE BILLIARD BALLS WITH STEAK & STICK SUPERIMPOSED

ARIZONA TRADEMARK

12/28/2014

2/17/1994

TR009

A

LAPLP

JOEY WITH BISTRO SUPERIMPOSED THROUGH THE Y

ARIZONA TRADEMARK

3/7/2015

3/7/1995

TR010

A

LAPLP

JOEY WITH PIZZA SUPERIMPOSED THROUGH THE Y

ARIZONA TRADEMARK

2/14/2015

3/7/1995

TR011

A

ILX

HOBO STATION TRADEMARK WITH LOCOMOTIVE AND PINE TREES

ARIZONA TRADE MARK

4/26/2019

4/26/1999

TRADEMARK NO. 42621

TR012

A

ILX

ILX PREMIERE COUNTRY CLUB (LOGO)

ARIZONA TRADE NAME

4/27/2014

4/27/1999

TRADENAME NO. 210962

TR013

A

ILX

CRAG’S LODGE TRADEMARK WITH GOLDEN EAGLE AND PINE TREES

ARIZONA TRADEMARK

3/10/2020

3/10/2000

TR014

A

ILX

RED ROCK SPRINGS FARMERS MARKET

ARIZONA TRADEMARK

7/11/2010

7/11/2000

TR015

A

ILX

THE HISTORIC CRAGS LODGE, GOLDEN EAGLE RESORT

COLORADO TRADEMARK

3/14/2015

3/14/2000

TR016

A

ILX

ARIZONA VACATION CLUB

ARIZONA TRADE NAME

5/13/2011

5/13/1996

TR017

A

ILX

PREMIERE VACATION CLUB

ARIZONA TRADE NAME

10/22/2012

10/22/1997

TR018

A

LAPLP

STEAK & STICKS

ARIZONA TRADE NAME

12/28/2014

12/28/1994

TR019

A

LAPLP

JOEY BISTRO

ARIZONA TRADE NAME

3/7/2015

3/7/1995

TR020

A

LAPLP

JOEY PIZZA

ARIZONA TRADE NAME

3/7/2015

3/7/1995

TR021

A

ILX

RED ROCK COLLECTION

ARIZONA TRADE NAME

1/27/2013

1/28/1993

TR022

A

ILX

SEDONA SPA

ARIZONA TRADE NAME

3/11/2012

3/11/1997

Trade ID

Status

Company

Name/Mark

Jurisdiction

DueDate

Registration

Notes

TR025

A

ILX

THE HISTORIC CRAGS LODGE, GOLDEN EAGLE RESORT

ARIZONA TRADE NAME

3/10/2015

3/10/2000

TR026

A

ILX

RED ROCK SPRINGS FARMERS MARKET

ARIZONA TRADE NAME

7/11/2010

7/11/2000

TR027

A

ILX

THE HISTORIC CRAGS LODGE, GOLDEN EAGLE RESORT

COLORADO TRADE NAME

3/14/2000

RENEWAL IS AUTOMATIC AS LONG AS AN ACTIVE BUSINESS ACCOUNT IS MAINTAINED WITH THE COLORADO DEPT OF REVENUE

TR033

A

PDI

PREMIERE DEVELOPMENT

CLARK COUNTY

7/31/2013

7/17/2008

FICTITIOUS NAME

TR035

A

ILX

SEDONA SPA

FEDERAL REG. NO. 3085529

10/25/2012

10/1/2012

AFFIDAVIT OF CONTINUING USE MUST BE FILED DURING THE 6 MONTHS BEFORE THE SIXTH ANNIVERSAY (04-25-2016)

TR037

A

LAPLP

SEDONA HEALTH SPA SALON

ARIZONA TRADE NAME

6/6/2011

6/6/2006

TRADE NAME NECESSARY FOR LAR SPA COSMETOLOGY LICENSE

TR039

A

ILX

THE RED ROCK AND BASKET LOGO

FEDERAL REG. NO. 3,167,745

11/7/2011

11/7/2006

SECTION 8 & 15 AFFIDAVITS MUST BE FILED BETWEEN THE 5TH AND 6TH YEARS FOLLOWING REGISTRATION; THE ABSOLUTE DEADLINE IS 11/06/2012

TR042

A

ILXBR

PREMIERE VACATION CLUB AT BELL ROCK, SEDONA

ARIZONA TRADE NAME

5/15/2012

5/15/2007

TRADE NAME FOR BELL ROCK (NAME CHANGED FROM THE BELL ROCK INN & SUITES)

TR049

A

ILX

ILX PREMIERE COUNTRY CLUB AND HALF CIRCLE

ARIZONA TRADE MARK

4/27/2019

4/27/1999

TRADEMARK NO. 42650

TR050

A

ILX

ILX PREMIERE IN HALF CIRCLE SHAPE/COUNTRY CLUB CENTERED

ARIZONA TRADE MARK

8/11/2010

VIRTUAL GOLF SIMULATOR AND ADS

TR052

A

ILX

PREMIERE VACATION CLUB

FEDERAL REG. NO. 3,579,448

2/24/2014

2/24/2009

TRADEMARK; SECTION 8 & 15 AFFIDAVITS DUE SOMETIME AFTER 02/24/2014 BUT BEFORE 02/24/2015

TR056

A

ILX

STAKES & STICKS SPORTS BAR AND CELEBRITY GRILL

ARIZONA TRADE NAME

12/15/2014

12/15/2009

TRADENAME FOR RESTAURANT

Schedule 1(g)
Vehicles

Attached hereto.

ILX RESORTS INCORPORATED
U.S.
VEHICLES

						LICENSE PLATE
YEAR		MAKE/MODEL		VIN		NO.		TITLED TO		LOCATION
1974		Chevrolet Pick Up		CKY244J132226		452TSB		Golden Eagle Resort		Golden Eagle Resort, Estes Park, CO.
1984		Ford Van		1FDJE37G3EHA86239		CA32864		ILX Resorts Incorporated		Los Abrigados Resort & Spa, Sedona, AZ
1985		Dodge Ram		1B4HW12T2FS570591		FHE9915		The Golden Eagle		Golden Eagle Resort, Estes Park, CO
1991		Ford Pick Up		1FTCR10A6MUD68845		4LP870		Los Abrigados Resort		Los Abrigados Resort & Spa, Sedona, AZ
1993		Ford Escort		3FAPP15J2PR132033		CC61892		ILX Resorts Incorporated		Premiere Vacation Club at the Roundhouse Resort, Pinetop, AZ
1994		Ford Econoline Van		1FDEE14H9RHCO5534		4YZ503		Los Abrigados Resort		Kohl’s Ranch Lodge, Payson, AZ
1995		Dodge Van		1B4GH44R3SX586739		VCAONE		Varsity Clubs of America, South Bend		Varsity Clubs of America, South Bend Chapter, Mishawaka, IN
1995		Chevrolet Pick Up		1GCGK24K6SZ280361		CB39090		ILX Incorporated (NKA ILX Resorts Incorporated)		Kohl’s Ranch Lodge, Payson, AZ
1996		ASVE (Assembled Vehicle)		AZ201705		CA58591		ILX Resorts Incorporated		Premiere Vacation Club at Bell Rock, Sedona, AZ
1996		Chevrolet Blazer		1GNCS13WXT2115833		5CK581		ILX Incorporated (NKA ILX Resorts Incorporated)		Premiere Vacation Club at the Roundhouse Resort, Pinetop, AZ
1997		Dodge Van		2B5WB35Z6VK565512		5EJ268		ILX incorporated (NKA ILX Resorts Incorporated)		Kohl’s Ranch Lodge, Payson, AZ
1998		Dodge Van		2B4GP44R8WR645355		999BTA		ILX Resorts Incorporated		Varsity Clubs of America, Tucson Chapter, Tucson, AZ
1999		Chevrolet Laundry Van		1GBHG31R1X1005973		CA62714		ILX Incorporated (NKA ILX Resorts Incorporated)		Los Abrigados Resort & Spa, Sedona, AZ
2000		Ford 25 Passenger Van		1FDWE45F5YHA54368		3ZZ715		Premiere Development Incorporated		Los Abrigados Resort & Spa, Sedona, AZ
2001		Ford Econoline Van		1FDNS24L41HB05185		CD13214		Premiere Development incorporated		Los Abrigados Resort & Spa, Sedona, AZ
2003		Kia Sedona Van		KNDUP131336389077		AH005		ILX Resorts Incorporated		Los Abrigados Resort & Spa, Sedona, AZ
2003		Kia Sedona Van		KNDUP131036406174		AH006		ILX Resorts Incorporated		Premiere Vacation Club at Bell Rock, Sedona, AZ
2004		Nissan Titan Pick Up		1N6AA07A14N521833		AH004		ILX Resorts Incorporated		Los Abrigados Resort & Spa, Sedona, AZ
2004		Jeep Grand Cherokee		1J4GW48S24C243513		394MEZ		ILX Resorts Incorporated		Los Abrigados Resort & Spa, Sedona, AZ
2005		Polaris Ranger 2X4 (ATV)		4XARB50A25D726148		MCVR5K		ILX Resorts Incorporated		Kohl’s Ranch Lodge, Payson, AZ
2005		Dodge Van		2D4GP44L25R378584		CA55073		ILX Resorts Incorporated		3840 N. 16th Street, Phoenix, AZ
2006		Polaris Ranger 4X4 (ATV)		4XARD50A56D030024		9ZRRRV		ILX Resorts Incorporated		Premiere Vacation Club at the Roundhouse Resort, Pinetop, AZ
2006		Kia Sedona Van		KNDMB233666034026		238NCX		Varsity Clubs of America		Varsity Clubs of America, South Bend Chapter, Mishawaka, IN
2007		Chevrolet 2WD Pick Up Truck		1GCEC14X77Z169187		CE81743		ILX Resorts Incorporated		Premiere Vacation Club at the Roundhouse Resort, Pinetop, AZ
2007		Chevrolet G20 Van		1GCGG29V271216439		CF21169		ILX Resorts Incorporated		Sedona OPC, 250 Brewer Road, Sedona AZ

ILX RESORTS INCORPORATED
MEXICO
VEHICLES

YEAR		MAKE/MODEL		VIN		LICENSE PLATE NO.		TITLED TO		LOCATION
2003		Volkswagen Eurovan		WV2RJ07073H084609		VXH3679		Sea of Cortez Premiere Vacation Club S. de R. L. de C.V.		Sea of Cortez, Premiere Vacation Club, San Carlos, Sonora, Mexico
2006		Toyota Hiace		JTFSX23P366006767		VXH3677		Sea of Cortez Premiere Vacation Club S. de R. L. de C.V.		Sea of Cortez, Premiere Vacation Club, San Carlos, Sonora, Mexico
2007		Chevrolet Express Van		1GAHG39U371205217		VWH3678		Puerto Penasco Vacation Destinations, S. de R.L. de C.V.		Sea of Cortez, Premiere Vacation Club, San Carlos, Sonora, Mexico

Domain Names and Websites

Any of Seller’s rights and Interests in the domain names and websites as described in the attached schedule.

DOMAIN NAMES

Network Solutions

Domain Name		Expires		Status
xxxxxxxxxx.xxx		Jan-11
xxxxxxxxx.xxx		Jan-11

GoDaddy

Domain Name		Expires		Status
XXXXXXXXXXXXX.XXX		4/17/2014		Active — Locked
XXXXXXXXXXXXX.XXXX		10/22/2010		Active — Locked
XXXXXXXXXXXXX.XXX		10/22/2010		Active — Locked
XXXXXXXXXXXXX.XXX		10/22/2010		Active — Locked
XXXXXXXXXXXXXX.XXX		6/9/2011		Active — Unlocked
XXXXXXXXX.XXX		6/15/2011		Active — Unlocked
XXXXXXXXXXXXXXXXX.XXX		6/23/2011		Active — Unlocked
XXXXXXXXXXXXXXXXXXXXXXX.XXX		2/9/2011		Active — Locked
XXXXXXXXXXXXXXXXXXX.XXX		2/9/2011		Active — Locked
XXXXXXXXXXXXXX.XXX		1/31/2011		Active — Unlocked
XXXXXXXXXXXXXX.XXX		3/26/2012		Active — Unlocked
XXXXXXXXXXXXXX.XXX		3/26/2012		Active — Unlocked
XXXXXXXXXX.XXX		4/23/2011		Active — Locked
XXXXXXXXXX.XXX		7/12/2011		Active — Locked
XXXXXXXXXXXXXXX.XXX		4/23/2011		Active — Unlocked
XXXXXXXXXXXXXXXXXX.XXX		9/14/2011		Active — Locked
XXXXXXXXXXXXXXXX.XXX		8/16/2011		Active — Locked
XXXXXXXXXXXXXXXXXX.XXX		8/16/2011		Active — Unlocked
XXXXXXXXXXXX.XXX		9/21/2011		Active — Locked
XXXXXXXXXXXXXXXXXXXX.XXX		9/14/2011		Active — Locked

Domain Name		Expires		Status
XXXXXXXXXXXXXXX.XXX		8/22/2011		Active — Locked
XXXXXXXXXXXXXX.XXX		10/27/2010		Active — Locked
XXXXXXXXXXXXXXXXXXXX.XXX		7/13/2011		Active — Locked
XXXXXXXXXXXXXXXXXXX.XXX		7/13/2011		Active — Locked
XXXXXXXXXXXXXX.XXX		6/7/2013		Active — Locked
XXXXXXXXXXXXXX.XXXX		10/22/2010		Active — Locked
XXXXXXXXXXXXXX.XXX		10/22/2010		Active — Locked
XXXXXXXXXXXXXX.XXX		10/22/2010		Active — Locked
XXXXXXXXXXXXX.XXX		4/13/2011		Active — Locked
XXXXXXXXXXXXXXXXXX.XXX		3/17/2011		Active — Locked
XXXXXXXXXXXXXXX.XXX		9/14/2011		Active — Locked
XXXXXXXXXXXXXX.XXX		6/29/2011		Active — Locked
XXXXXXXXXXXXXXX.XXX		2/23/2011		Active — Locked
XXXXXXXXXXXXXXXX.XXX		8/16/2010		Active — Locked
XXXXXXXXXXXX.XXX		11/6/2010		Active — Locked
XXXXXXXXXXXXXXXXXX.XXX		1/7/2011		Active — Locked
XXXXXXXXXXXX.XXX		5/12/2011		Active — Locked
XXXXXXXXXXXXXXXXXXXXXXX.XXX		8/16/2011		Active — Locked
XXXXXX.XXX		8/23/2011		Active — Locked
XXXXXXXXX.XXX		9/14/2011		Active — Locked
XXXXXXXXXXXXX.XXX		1/7/2011		Active — Locked
XXXXXXXXXXXXXXXXXXXX.XXX		8/16/2011		Active — Locked
XXXXXXXXXXXXXXXXXX.XXX		5/12/2011		Active — Locked

Close Window

XXXXXXXXXX.XXX
and the related domain names below		will be assigned to Buyer at such time as Seller ceases its business affairs.

Domain Name		Expires		Status
XXXXXXX.XXX		8/19/2011		Active — Unlocked
XXXXXXXXXXXXXX.XXX		3/12/2011		Active — Locked
XXXXXXXXX.XXX		11/11/2010		Active — Locked
XXXXXXXXXXXXXXXXX.XXX		10/1/2011		Active — Locked

EXHIBIT B
List of Unsold Timeshare Interests

Exhibit B-1

Stand Alone Inventory

The following interests in stand alone inventory as further described on the attached schedules:

Inn at Los Abrigados		107.5 weeks
Kohl’s Ranch Lodge		22.5 weeks
Golden Eagle Resort		9 weeks
Los Abrigados Resort		193.5 weeks
VCA — South Bend		273.5 weeks
VCA—Tucson		51.5 weeks
The Carriage House		7 weeks

INVENTORY OWNED BY ILX RESORTS INCORPORATED

An undivided 107.5/510 fee simple interest in and to the real property described at Docket 1915, page 410, et seq., recorded September 13, 1996, in the official records of Coconino County, Arizona, subject to the general terms and conditions of the Membership Plan for The Inn at Los Abrigados, as such plan may be amended from time to time (the “Plan”), recorded November 25, 1997 at Docket 2045, page 001, official records of Coconino County, Arizona and attached hereto;

Together with all rights and privileges appurtenant thereto.

     Subject to the terms and conditions set forth in the Plan and subject to the specific terms and conditions set forth in the Plan with respect to the following types of Membership:

Unit Type:		107.5 Inn
Occupancy Period:		One Week for Each Membership Share
Seasonal Priority:		Prime
Annual Frequency:		Every Year
Unit Number:		Not Applicable

EXHIBIT A

PARCEL 1:

A PARCEL OF LAND SITUATED IN THE NORTHEAST QUARTER OF THE NORTHEAST QUARTER OF SECTION 18, TOWNSHIP 17 NORTH, RANGE 6 EAST OF THE GILA AND SALT RIVER BASE AND MERIDIAN, COCONINO COUNTY, ARIZONA, SAID PARCEL BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCING AT THE NORTHEAST CORNER OF SAID SECTION 18 AS MARKED BY A B.L.M. BRASS CAPPED PIPE AND FROM WHICH THE NORTH QUARTER CORNER OF SAID SECTION 18, ALSO MARKED BY A B.L.M. BRASS CAPPED PIPE, LIES SOUTH 89 DEGREES 51 MINUTES 39 SECONDS WEST (BASIS OF BEARINGS FOR THIS DESCRIPTION) A DISTANCE OF 2,634.18 FEET;

THENCE FROM SAID NORTHEAST CORNER OF SECTION 18, SOUTH 89 DEGREES 51 MINUTES 39 SECONDS WEST A DISTANCE OF 737.24 FEET ALONG THE NORTH LINE OF THE NORTHEAST QUARTER OF SAID SECTION 18 TO A POINT ON THE BOUNDARY LINE OF THE LOS ABRIGADOS RESORT;

THENCE SOUTH 34 DEGREES 46 MINUTES 21 SECONDS EAST A DISTANCE OF 160.69 FEET ALONG SAID BOUNDARY LINE OF THE LOS ABRIGADOS RESORT TO A 1/2” REBAR WITH PLASTIC CAP STAMPED “LS 14184” PREVIOUSLY SET AT THE POINT OF BEGINNING OF THE HEREIN DESCRIBED PARCEL;

THENCE LEAVING SAID BOUNDARY OF THE LOS ABRIGADOS RESORT, SOUTH 34 DEGREES 46 MINUTES 21 SECONDS EAST (SOUTH 34 DEGREES 43 MINUTES EAST PER DOCKET 422, PAGE 567 CCRO) A DISTANCE OF 107.42 FEET ALONG THE WESTERLY BOUNDARY OF TLAQUEPAQUE TO AN ANGLE POINT THEREIN;

THENCE SOUTH 12 DEGREES 21 MINUTES 39 SECONDS WEST (SOUTH 12 DEGREES 25 MINUTES WEST PER DOCKET 422, PAGE 567 CCRO) A DISTANCE OF 73.80 (73.80 PER DOCKET 422, PAGE 567 CCRO) FEET ALONG SAID WESTERLY BOUNDARY OF TLAQUEPAQUE TO 1 /2” REBAR WITH PLASTIC CAP STAMPED “LS 14184” PREVIOUSLY SET ON THE BOUNDARY OF SAID LOS ABRIGADOS RESORT;

THENCE SOUTH 89 DEGREES 51 MINUTES 39 SECONDS WEST A DISTANCE OF 222.58 FEET ALONG SAID BOUNDARY OF THE LOS ABRIGADOS RESORT TO A CONCRETE NAIL AND BRASS TAG STAMPED “LS 14184” PREVIOUSLY SET IN CONCRETE SIDEWALK;

THENCE NORTH 00 DEGREES 03 MINUTES 39 SECONDS EAST A DISTANCE OF 71.38 FEET ALONG SAID BOUNDARY OF THE LOS ABRIGADOS RESORT TO A CONCRETE NAIL AND BRASS TAG STAMPED “LS 14184” PREVIOUSLY SET IN CONCRETE SIDEWALK;

THENCE NORTH 63 DEGREES 10 MINUTES 57 SECONDS EAST A DISTANCE OF 198.38 FEET ALONG SAID BOUNDARY OF THE LOS ABRIGADOS RESORT TO THE POINT OF BEGINNING.

EXCEPTING THEREFROM ANY PORTION THEREOF DEED TO SAL SAGEV HOTEL, CO., INC. AS RECORDED FEBRUARY 10, 1998 IN DOCKET 2067, PAGE 584.

PARCEL 2:

A NON-EXCLUSIVE EASEMENT OVER THE FOLLOWING DESCRIBED PROPERTY AS SET FORTH IN INSTRUMENT RECORDED FEBRUARY 22, 1994 IN DOCKET 1646, PAGE 182.

A PARCEL OF LAND BEING A PORTION OF THE HART’S VILLAGE SUBDIVISION ACCORDING TO THE PLAT THEREOF RECORDED IN BOOK 2 OF MAPS, PAGE 54 OF THE COCONINO COUNTY RECORDERS OFFICE AND A PORTION OF SECTION 18, TOWNSHIP 17 NORTH, RANGE 6 EAST OF THE GILA AND SALT RIVER BASE AND MERIDIAN, COCONINO COUNTY, ARIZONA, SAID PARCEL BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCING AT THE SOUTHEAST CORNER OF SAID SECTION 7 AS MARKED BY A BLM BRASS CAPPED PIPE AND FROM WHICH THE SOUTH QUARTER CORNER OF SAID SECTION 7, AS MARKED BY A BLM BRASS CAPPED PIPE, LIES SOUTH 89 DEGREES 51 MINUTES 39 SECONDS WEST (BASIS OF BEARINGS FOR THIS DESCRIPTION) A DISTANCE OF 2634.18 FEET;

THENCE SOUTH 89 DEGREES 51 MINUTES 39 SECONDS WEST A DISTANCE OF 1317.09 FEET TO THE SOUTHWEST CORNER OF THE SOUTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SAID SECTION 7;

THENCE NORTH 01 DEGREES 07 MINUTES 57 SECONDS WEST (NORTH 01 DEGREES 04 MINUTES 02 SECONDS WEST REC.) A DISTANCE OF 158.89 FEET TO A 1/2” REBAR WITH PLASTIC CAP STAMPED “LS 14184” (FOUND);

THENCE SOUTH 85 DEGREES 10 MINUTES 31 SECONDS EAST (SOUTH 85 DEGREES 17 MINUTES 23 SECONDS EAST REC.) A DISTANCE OF 65.64 (65.58 REC.) FEET TO A ¹/2” REBAR WITH PLASTIC CAP STAMPED “LS 14184” (FOUND);

THENCE SOUTH 02 DEGREES 28 MINUTES 30 SECONDS WEST (SOUTH 02 DEGREES 32 MINUTES 25 SECONDS WEST REC.) A DISTANCE OF 23.87 (23.84 REC.) FEET TO A CONCRETE NAIL WITH BRASS TAG STAMPED “LS 14814” (FOUND);

THENCE NORTH 89 DEGREES 15 MINUTES 05 SECONDS EAST (NORTH 89 DEGREES 16 MINUTES 39 SECONDS EAST REC.) A DISTANCE OF 15.51 (15.50 REC.) FEET TO A CONCRETE NAIL WITH BRASS TAG STAMPED “LS 14184” (FOUND);

THENCE SOUTH 89 DEGREES 50 MINUTES 09 SECONDS EAST (SOUTH 89 DEGREES 48 MINUTES 35 SECONDS EAST REC.) A DISTANCE OF 176.78 (176.73 REC.) FEET TO A 1/2” REBAR WITH PLASTIC CAP STAMPED “LS 14184” (FOUND);

THENCE NORTH 00 DEGREES 04 MINUTES 39 SECONDS WEST (NORTH 00 DEGREES 11 MINUTES 34 SECONDS WEST REC.) A DISTANCE OF 35.32 FEET;

THENCE SOUTH 84 DEGREES 47 MINUTES 24 SECONDS EAST A DISTANCE OF 30.26 FEET TO THE POINT OF BEGINNING;

THENCE NORTH 08 DEGREES 07 MINUTES 05 SECONDS EAST A DISTANCE OF 83.70 FEET TO A POINT OF CURVATURE;

THENCE NORTHEASTERLY ALONG A TANGENT CURVE CONCAVE TO THE SOUTHEAST HAVING A RADIUS OF 60.43 FEET AND A CENTRAL ANGLE OF 36 DEGREES 09 MINUTES 59 SECONDS AN ARC DISTANCE OF 38.14 FEET TO A POINT OF TANGENCY;

THENCE NORTH 44 DEGREES 17 MINUTES 04 SECONDS EAST A DISTANCE OF 32.28 FEET TO A CORNER OF THE LOS ABRIGADOS BOUNDARY;

THENCE SOUTH 41 DEGREES 22 MINUTES 21 SECONDS EAST A DISTANCE OF 25.51 FEET ALONG THE SAID LOS ABRIGADOS BOUNDARY;

THENCE SOUTH 44 DEGREES 17 MINUTES 04 SECONDS WEST A DISTANCE OF 30.35 FEET TO A POINT OF CURVATURE;

THENCE SOUTHWESTERLY ALONG A TANGENT CURVE CONCAVE TO THE SOUTHEAST HAVING A RADIUS OF 35.00 FEET AND A CENTRAL ANGLE OF 36 DEGREES 09 MINUTES 59 SECONDS AN ARC DISTANCE OF 22.09 FEET TO A POINT OF TANGENCY;

THENCE SOUTH 08 DEGREES 07 MINUTES 05 SECONDS WEST A DISTANCE OF 144.37 FEET TO THE BEGINNING OF A CURVE;

THENCE SOUTHEASTERLY ALONG A NONTANGENT CURVE CONCAVE TO THE SOUTHWEST HAVING A RADIUS OF 52.91 FEET, CHORD BEARING OF SOUTH 27 DEGREES 09 MINUTES 46 SECONDS EAST AND CENTRAL ANGLE OF 70 DEGREES 20 MINUTES 25 SECONDS AN ARC DISTANCE OF 64.95 FEET TO A POINT OF NON TANGENCY;

THENCE SOUTH 71 DEGREES 06 MINUTES 03 SECONDS EAST A DISTANCE OF 34.40 FEET TO A POINT OF CURVATURE;

THENCE SOUTHEASTERLY ALONG A TANGENT CURVE CONCAVE TO THE SOUTHWEST HAVING A RADIUS OF 89.81 FEET AND A CENTRAL ANGLE OF 45 DEGREES 48 MINUTES 01 SECONDS AN ARC DISTANCE OF 71.79 FEET TO THE POINT OF TANGENCY;

THENCE SOUTH 25 DEGREES 18 MINUTES 02 SECONDS EAST A DISTANCE OF 167.11 FEET TO THE BEGINNING OF A CURVE;

THENCE SOUTHEASTERLY ALONG A NONTANGENT CURVE CONCAVE TO THE SOUTHWEST HAVING A RADIUS OF 93. 91 FEET, CHORD BEARING OF SOUTH 12 DEGREES 40 MINUTES 20 SECONDS EAST AND A CENTRAL ANGLE OF 25 DEGREES 15 MINUTES 24 SECONDS AN ARC DISTANCE OF 41.40 FEET TO A POINT OF NONTANGENCY;

THENCE SOUTH 05 DEGREES 15 MINUTES 31 SECONDS EAST A DISTANCE OF 15.12 FEET TO THE NORTHWEST CORNER OF THE PHIL W. MORRIS PROPERTY;

THENCE SOUTH 00 DEGREES 03 MINUTES 39 SECONDS WEST A DISTANCE OF 71.38 FEET TO THE SOUTHWEST CORNER OF SAID PHIL W. MORRIS PROPERTY;

THENCE NORTH 89 DEGREES 56 MINUTES 21 SECONDS WEST A DISTANCE OF 25.24 FEET;

THENCE NORTH 00 DEGREES 02 MINUTES 38 SECONDS WEST A DISTANCE OF 86.39 FEET TO A POINT OF CURVATURE;

THENCE NORTHWESTERLY ALONG A TANGENT CURVE CONCAVE TO THE SOUTHWEST HAVING A RADIUS OF 69.91 FEET AND A CENTRAL ANGLE OF 25 DEGREES 15 MINUTES 24 SECONDS AN ARC DISTANCE OF 30.82 FEET TO A POINT OF TANGENCY;

THENCE NORTH 25 DEGREES 18 MINUTES 02 SECONDS WEST A DISTANCE OF 167.11 FEET TO A POINT OF CURVATURE;

THENCE NORTHWESTERLY ALONG A TANGENT CURVE CONCAVE TO THE SOUTHWEST HAVING A RADIUS OF 65.81 FEET AND A CENTRAL ANGLE OF 45 DEGREES 48 MINUTES 01 SECONDS AN ARC DISTANCE OF 52.61 FEET TO A POINT OF TANGENCY;

THENCE NORTH 71 DEGREES 06 MINUTES 03 SECONDS WEST A DISTANCE OF 65.48 FEET;

THENCE NORTH 18 DEGREES 53 MINUTES 57 SECONDS EAST A DISTANCE OF 12.87 FEET TO A POINT OF TANGENCY;

THENCE NORTHWESTERLY ALONG A NONTANGENT CURVE CONCAVE TO THE SOUTHWEST HAVING A RADIUS OF 20.91 FEET, CHORD BEARING OF NORTH 27 DEGREES 50 MINUTES 08 SECONDS WEST AND A CENTRAL ANGLE OF 99 DEGREES 41 MINUTES 30 SECONDS AN ARC DISTANCE OF 36.38 FEET TO A POINT OF NONTANGENCY;

THENCE NORTH 81 DEGREES 52 MINUTES 55 SECONDS WEST A DISTANCE OF 9.26 FEET;

THENCE NORTH 08 DEGREES 07 MINUTES 05 SECONDS EAST A DISTANCE OF 89.67 FEET TO THE POINT OF BEGINNING.

INVENTORY OWNED BY ILX RESORTS INCORPORATED

An undivided fractional fee simple interest in and to the real property described at Instrument No. 95-666429 in the official records of the Gila County Recorder, Gila County, Arizona and attached hereto, as corresponds to 22.5 Membership Shares as provided for in the Membership Plan for Kohl’s Ranch Vacation Club, as such plan may be amended from time to time (the “Plan”), recorded on April 24, 1995 at Instrument No. 95-664618.

Together with all rights and privileges appurtenant thereto.

     Subject to the terms and conditions set forth in the Plan and subject to the specific terms and conditions set forth in the Plan with respect to the following types of Membership:

Unit Types:		1 Christopher Creek, 6 Ponderosa, 4.5 Tonto Creek And 1 Zane Grey
Occupancy Period:		One Week
Seasonal Priority:		Prime
Annual Frequency:		Every Year
Unit Number:		Not Applicable
Unit Types:		1.5 Christopher Creek, 6.5 Ponderosa, 1 Tonto Creek And 1 Zane Grey
Occupancy Period:		One Week
Seasonal Priority:		High
Annual Frequency:		Every Year
Unit Number:		Not Applicable

No. 336-1304144

EXHIBIT “A”

PARCEL NO. 1:

Track K of KOHL’S TONTO CREEK RANCH PLAT “A”, Map No. 356, as recorded in the office of the Gila County Recorder, Gila County, Arizona located in a portion of Homestead Entry Survey No. 567 lying within Section 21, Township 11 North, Range 12 East of the Gila and Salt River Base and Meridian, Gila County, Arizona, more particularly described as follows:

COMMENCING for a tie at Corner No. 3 of said H.E.S. No. 567;

thence South 11 degrees 30 minutes 40 seconds East, along the Westerly line of said H.E.S. No. 567, a distance of 751.85 feet to the Northwest corner of Lot 72 of said KOHL’S TONTO CREEK RANCH PLAT “A”;

thence leaving said Westerly line, North 72 degrees 31 minutes 30 seconds East, a distance of 108.23 feet to a point, said point being the intersection of the North line of said Lot 72 extended and the East right-of-way of SHORT ROAD, said point being the TRUE POINT OF BEGINNING;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 minutes 50 seconds West recorded), along the East right-of-way line of SHORT ROAD, a distance of 725.49 feet (729.60 feet recorded) to the intersection with the East right-of-way of STATE ROUTE 260, said intersection being a point on a curve concave to the Northwest having a radius. of 880.00 feet, a radial line through said intersection bears South 62 degrees 57 minutes 16 seconds East;

thence Northeasterly 111.54 feet (107.43 recorded) along said curve through a central angle of 07 degrees 15 minutes 44 seconds to the beginning of a tangent curve to the left, said curve being parallel to and 50.00 feet right of the STATE ROUTE 260 centerline spiral curve having a rate of change in degree of curvature, a = 4.8627 degrees, a full spiral deviation angle of 04 degrees 54 minutes 00 seconds, and a spiral distance of 141.96 feet;

thence Northeasterly continuing along the East right-of-way line of STATE ROUTE 260, a distance of 146.24 feet along said curve to a point of tangency;

thence North 14 degrees 53 minutes 00 seconds East (North 14 degrees 49 minutes 10 seconds East recorded), continuing along the East right-of-way line of STATE ROUTE 260, a distance of 288.61 feet (287.62 feet recorded) to the intersection with the South right-of-way of BUENAGUA ROAD;

thence South 43 degrees 48 minutes 48 seconds East (South 44 degrees 15 minutes 10 seconds East recorded), along the South right-of-way of said BUENAGUA ROAD, a distance of 159.16 feet (157.67 feet recorded);

thence South 38 degrees 12 minutes 48 seconds East (South 38 degrees 39 minutes 10 seconds East recorded), continuing along the South right-of-way of said BUENAGUA ROAD, a distance of 223.06 feet;

thence South 29 degrees 35 minutes 48 seconds East (South 30 degrees 02 minutes 10 seconds East recorded), continuing along the South right-of-way of said BUENAGUA ROAD, a distance of 19.24 feet (27.57 feet recorded);

thence South 22 degrees 45 minutes 51 seconds East (South 23 degrees 02 minutes 00 seconds East recorded), leaving the South right-of-way of said BUENAGUA ROAD, a distance of 340.38 feet (332.09 feet recorded);

thence South 14 degrees 53 minutes 10 seconds East (South 15 degrees 19 minutes 10 seconds East recorded), a distance of 33.13 feet (33.15 feet recorded) to a point on the West right-of-way of BUENAGUA ROAD;

No. 336-1304144

thence South 05 degrees 03 minutes 48 seconds East (South 05 degrees 30 minutes 10 seconds East recorded), along the West right-of-way of said BUENAGUA ROAD, a distance of 271.76 feet (271.74 feet recorded);

thence South 02 degrees 06 minutes 48 seconds East (South 02 degrees 33 minutes 10 seconds East recorded), continuing along the West right-of-way of BUENAGUA ROAD, a distance of 36.58 feet;

thence South 30 degrees 43 minutes 12 seconds West (South 30 degrees 16 minutes 50 seconds West, recorded), leaving the West right-of-way of BUENAGUA ROAD, a distance of 192.50 feet (193.61 feet recorded);

thence South 72 degrees 35 minutes 33 seconds West (South 72 degrees 20 seconds 30 minutes West recorded), a distance of 233.32 feet;

thence South 72 degrees 31 minutes 30 seconds West (South 72 degrees 20 minutes 30 seconds West recorded), a distance of 123.20 feet (123.81 feet recorded) to the TRUE POINT OF BEGINNING;

EXCEPT that portion of Tract K, of KOHL’S TONTO CREEK RANCH PLAT “A”, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 356, located in a portion of Homestead Entry Survey No. 567 lying within Section 21, Township 11 North, Range 12 East of the Gila and Salt River Base and Meridian, Gila County, Arizona, being described as follows:

COMMENCING for a tie at Corner No. 3 of said H.E.S. No. 567;

thence South 11 degrees 32 minutes 34 seconds East, along the line between Corner No. 3 and No. 2 of said H.E.S. No. 567, a distance of 751.72 feet (752.78 feet recorded) to the Northwest corner of Lot 72, of KOHL’S TONTO CREEK RANCH, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 112;

thence North 72 degrees 34 minutes 09 seconds East (North 72 degrees 51 minutes East recorded), a distance of 107.81 feet (108.20 feet recorded) to a point being the intersection of the Northerly line of said Lot 72 extended and the Easterly right-of-way of SHORT ROAD;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 minutes 50 seconds West recorded), along the Easterly line of said SHORT ROAD, a distance of 22.84 feet to the POINT OF BEGINNING;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 minutes 50 seconds West recorded), continuing along the Easterly line of SHORT ROAD, a distance, of 64.98 feet;

thence North 76 degrees 23 minutes 24 seconds East, a distance of 78.14 feet;

thence South 13 degrees 29 minutes 59 seconds East, a distance of 20.00 feet;

thence South 76 degrees 23 minutes 24 seconds West, a distance of 39.09 feet;

thence South 13 degrees 36 minutes 36 seconds East, a distance of 44.94 feet;

thence South 76 degrees 23 minutes 24 seconds West, a distance of 41.38 feet to the POINT OF BEGINNING; and

EXCEPT that portion of Tract K, of KOHL’S TONTO CREEK RANCH PLAT “A”, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 356 located in a portion of Homestead Entry Survey No. 567 lying within Section 21, Township 11 North, Range 12 East of the Gila and Salt River Base and Meridian, Gila County, Arizona, being described as follows:

COMMENCING for a tie at Corner No. 3 of said H.E.S. No. 567;

No. 336-1304144

thence South 11 degrees 32 minutes 34 seconds East, along the line between Corner No. 3 and No. 2 of said H.E.S. No. 567, a distance of 751.72 feet (752.78 feet recorded) to the Northwest corner of Lot 72, of KOHL’S TONTO CREEK RANCH, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 112;

thence North 72 degrees 34 minutes 09 seconds East (North 72 degrees 51 minutes East recorded), a distance of 107.81 feet (108.20 feet recorded) to a point being the intersection of the Northerly line of said Lot 72 extended and the Easterly right-of-way of SHORT ROAD;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 minutes 50 seconds West recorded), along the Easterly line of said SHORT ROAD, a distance of 357.94 feet;

thence North 77 degrees 30 minutes 01 seconds East, a distance of 21.37 feet to the POINT OF BEGINNING;

thence continuing North 77 degrees 30 minutes 01 seconds East, a distance of 11.18 feet;

thence South 12 degrees 47 minutes 54 seconds East, a distance of 5.97 feet;

thence South 77 degrees 30 minutes 01 seconds West, a distance of 11.18 feet;

thence North 12 degrees 47 minutes 54 seconds West, a distance of 5.97 feet to the POINT OF BEGINNING; and

EXCEPT that portion of Tract K, of KOHL’S TONTO CREEK RANCH PLAT “A”, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 356 located in a portion of Homestead Entry Survey No. 567 lying within Section 21, Township 11 North, Range 12 East of the Gila and Salt River Base and Meridian, Gila County, Arizona, being described as follows:

COMMENCING for a tie at Corner No. 3 of said H.E.S. No. 567;

thence South 11 degrees 32 minutes 34 seconds East, along the line between Corner No. 3 and No. 2 of said H.E.S. No. 567, a distance of 751.72 feet (752.78 feet recorded) to the Northwest corner of Lot 72, of KOHL’S TONTO CREEK RANCH, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 112;

thence North 72 degrees 34 minutes 09 seconds East (North 72 degrees 51 minutes East recorded), a distance of 107.81 feet (108.20 feet recorded) to a point being the intersection of the Northerly line of said Lot 72 extended and the Easterly right-of-way of SHORT ROAD;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 minutes 50 seconds West recorded), along the Easterly line of said SHORT ROAD, a distance of 710.49 feet to the POINT OF BEGINNING;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 minutes 50 seconds West recorded), continuing along the Easterly line of said SHORT ROAD, a distance of 15.00 feet to the intersection with the Easterly right-of-way of ARIZONA STATE ROUTE 260;

thence South 62 degrees 57 minutes 16 seconds East, a distance of 10.00 feet;

thence South 30 degrees 13 minutes 14 seconds West, a distance of 11.75 feet to the POINT OF BEGINNING.

PARCEL NO. 2:

Tract “B”, of KOHL’S TONTO CREEK RANCH, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 112, described as follows:

COMMENCING at Corner No. 5 of said Homestead Entry Survey No. 567, said point being the TRUE POINT OF BEGINNING;

No. 336-1304144

thence South 22 degrees 45 minutes 51 seconds East (South 23 degrees 02 minutes 00 seconds East recorded), along the Easterly line of said H.E.S. No. 567, a distance of 288.53 feet to a point on the Northerly right-of-way of BUENAGUA ROAD;

thence North 38 degrees 12 minutes 48 seconds West (North 38 degrees 39 minutes 10 seconds West recorded), along said right-of-way, a distance of 145.99 feet;

thence North 43 degrees 48 minutes 48 seconds West (North 44 degrees 15 minutes 10 seconds West and North 43 degrees 43 minutes West recorded), continuing along said right-of-way, a distance of 174.93 feet to the intersection with the East right-of-way of STATE ROUTE 260;

thence North 14 degrees 53 minutes 00 seconds East (North 14 degrees 49 minutes 10 seconds East recorded), along said East right-of-way of STATE ROUTE 260, a distance of 4.06 feet to the beginning of a tangent curve to the rights, said curve being parallel to and 50.00 feet right of the STATE ROUTE 260 centerline spiral curve having a rate of change in degree of curvature, a = 3.088 degrees, and a full spiral deviation angle of 04 degrees 36 minutes 00 seconds;

thence Northeasterly 22.21 feet (23.96 feet recorded) along said curve to the intersection with the North line of H.E.S. No. 567;

thence South 89 degrees 50 minutes 00 seconds East (South 89 degrees 33 minutes East and North 89 degrees 55 minutes East recorded), along the North line of said H.E.S. No. 567, a distance of 93.01 feet (92.82 feet recorded) to the TRUE POINT OF BEGINNING.

PARCEL NO. 3:

That portion of Tract K, of KOHL’S TONTO CREEK RANCH PLAT “A”, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 356, located in a portion of Homestead Entry Survey No. 567 lying within Section 21, Township 11 North, Range 12 East of the Gila and Salt River Base and Meridian, Gila County, Arizona, being described as follows:

COMMENCING for a tie at Corner No. 3 of said H.E.S. No. 567;

thence South 11 degrees 32 minutes 34 seconds East, along the line between Corner No. 3 and No. 2 of said H.E.S. No. 567, a distance of 751.72 feet (752.78 feet recorded) to the Northwest corner of Lot 72, of KOHL’S TONTO CREEK RANCH, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 112;

thence North 72 degrees 34 minutes 09 seconds East (North 72 degrees 51 minutes East recorded), a distance of 107.81 feet (108.20 feet recorded) to a point being the intersection of the Northerly line of said Lot 72 extended and the Easterly right-of-way of SHORT ROAD;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 minutes 50 seconds West recorded), along the Easterly line of said SHORT ROAD, a distance of 22.84 feet to the POINT OF BEGINNING;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 minutes 50 seconds West recorded), continuing along the Easterly line of SHORT ROAD, a distance of 64.98 feet;

thence North 76 degrees 23 minutes 24 seconds East, a distance of 78.14 feet;

thence South 13 degrees 29 minutes 59 seconds East, a distance of 20.00 feet;

thence South 76 degrees 23 minutes 24 seconds West, a distance of 39.09 feet;

thence South 13 degrees 36 minutes 36 seconds East, a distance of 44.94 feet;

No. 336-1304144

thence South 76 degrees 23 minutes 24 seconds West, a distance of 41.38 feet to the POINT OF BEGINNING.

PARCEL NO: 4:

That portion of Tract K, of KOHL’S TONTO CREEK RANCH PLAT “A”, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 356 located in a portion of Homestead Entry Survey No. 567 lying within Section 21, Township 11 North, Range 12 East of the Gila and Salt River Base and Meridian, Gila County, Arizona, being described as follows:

COMMENCING for a tie at Corner No. 3 of said H.E.S. No. 567;

thence South 11 degrees 32 minutes 34 seconds East, along the line between Corner No. 3 and No. 2 of said H.E.S. No. 567, a distance of 751.72 feet (752.78 feet recorded) to the Northwest corner of Lot 72, of KOHL’S TONTO CREEK RANCH, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 112;

thence North 72 degrees 34 minutes 09 seconds East (North 72 degrees 51 minutes East recorded), a distance of 107.81 feet (108.20 feet recorded) to a point being the intersection of the Northerly line of said Lot 72 extended and the Easterly right-of-way of SHORT ROAD;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 minutes 50 seconds West recorded), along the Easterly line of said SHORT ROAD, a distance of 357.94 feet;

thence North 77 degrees 30 minutes 01 seconds East, a distance of 21.37 feet to the POINT OF BEGINNING;

thence continuing North 77 degrees 30 minutes 01 seconds East, a distance of 11.18 feet;

thence South 12 degrees 47 minutes 54 seconds East, a distance of 5.97 feet;

thence South 77 degrees 30 minutes 01 seconds West, a distance of 11.18 feet;

thence North 12 degrees 47 minutes 54 seconds West, a distance of 5.97 feet to the POINT OF BEGINNING.

PARCEL NO. 5:

That portion of Tract K, of KOHL’S TONTO CREEK RANCH PLAT “A”, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 356 located in a portion of Homestead Entry Survey No. 567 lying within Section 21, Township 11 North, Range 12 East of the Gila and Salt River Base and Meridian, Gila County, Arizona, being described as follows:

COMMENCING for a tie at Corner No. 3 of said H.E.S. No. 567;

thence South 11 degrees 32 minutes 34 seconds East, along the line between Corner No. 3 and No. 2 of said H.E.S. No. 567, a distance of 751.72 feet (752.78 feet recorded) to the Northwest corner of Lot 72, of KOHL’S TONTO CREEK RANCH, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 112;

thence North 72 degrees 34 minutes 09 seconds East (North 72 degrees 51 minutes East recorded), a distance of 107.81 feet (108.20 feet recorded) to a point being the intersection of the Northerly line of said Lot 72 extended and the Easterly right-of-way of SHORT ROAD;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 minutes 50 seconds West recorded), along the Easterly line of said SHORT ROAD, a distance of 710.49 feet to the POINT OF BEGINNING;

thence North 11 degrees 30 minutes 40 seconds West (North 11 degrees 46 minutes 50 seconds West recorded),

No. 336-1304144

continuing along the Easterly line of said SHORT ROAD, a distance of 15.00 feet to the intersection with the Easterly right-of-way of ARIZONA STATE ROUTE 260;

thence South 62 degrees 57 minutes 16 seconds East, a distance of 10.00 feet;

thence South 30 degrees 13 minutes 14 seconds West, a distance of 11.75 feet to the POINT OF BEGINNING.

PARCEL NO. 6:

That portion of Tract “J”, of KOHL’S TONTO CREEK RANCH PLAT A, according to the plat of record in the office of the County Recorder of Gila County, Arizona, recorded in Map No. 352 and re-recorded in Map No. 356, more particularly described as follows:

BEGINNING at a point in the West line of said Tract “J” (said West line being coincident with the West line of Homestead Entry Survey NO. 567) which point is South 02 degrees 51 minutes 02 seconds West, a distance of 95.00 feet from Corner NO. 4 of said H.E.S. NO. 567 in Section 21, Township 11 North, Range 12 East of the Gila and Salt River Base and Meridian, Gila County, Arizona;

thence continuing along said coincident line South 02 degrees 51 minutes 02 seconds West, a distance of 90.00 feet;

thence South 87 degrees 08 minutes 58 seconds East, a distance of 45.00 feet;

thence North 02 degrees 51 minutes 02 seconds East, a distance of 90.00 feet;

thence North 87 degrees 08 minutes 58 seconds West, a distance of 45.00 feet to the POINT OF BEGINNING.

INVENTORY OWNED BY ILX RESORTS INCORPORATED

All the real property, together with improvements, if any, situate, lying and being in the County of Larimer, State of Colorado, described on the attached and as follows:

*SEE LIST BELOW*

Timeshare Period No * , Unit No. * , GOLDEN EAGLE RESORT, a Condominium, according to the Condominium and Timeshare Ownership Declaration for Golden Eagle Resort, a Condominium recorded August 31, 1987, at Reception No. 87050248, and re-recorded October 16, 1987, at Reception No. 87059791, and Amendment thereto as recorded February 13, 1990, at Reception No. 90006436, and according to the Condominium Map for Golden Eagle Resort recorded August 31, 1987, at Reception No. 87050249, and according to Supplement Map No. 1 recorded October 09, 1987, at Reception No. 87058593, and according to Supplement Map No. 2 recorded April 29, 1988, at Reception No. 88019333, and according to Supplement Map No. 3 recorded April 05, 1991, at Reception No. 91013942, and according to Supplement Map No. 4 recorded November 29, 1993, at Reception No. 93089144, and all amendments thereto, if any, in the Larimer County real property records

GOLDEN EAGLE RESORT

		Unit No.				Week				Season
1 Deluxe Blue/Red/White Unit Weeks:
			208				11			Red
3 Executive Blue/Red/White Unit Weeks:
			101				44			White
			303				49			White
			310				43			Red
4 Imperial Blue/Red/White Unit Weeks:
			106				45			White
			209				3			White
			209				18			Red
			209				37			Red
1 Studio Red/White Unit Weeks:
			001				31			Red

Commitment No. 61-0001972

Exhibit “A”

Parcel I

Units 001, 002, 003, 101, 102, 103, 104, 105, 106, 201, 202, 203, 204, 205, 206, 207, 208, 209, 210, 211, 212, 213, 214, 301, 302, 303, 304, 305, 306, 307, 308, 309, 310 and 311, Golden Eagle Resort, a condominium according to the Condominium and Time Share Ownership Declaration for Golden Eagle Resort, a condominium recorded August 31, 1987 at Reception No. 87050238 and re-recorded October 16, 1987 at Reception No. 87059791 and as amended by instrument recorded February 13, 1990 at Reception No. 90006436 and according to the Condominium Map for Golden Eagle Resort recorded August 31, 1987 at Reception No. 87050249 and Supplemental Map No. 1 recorded October 9, 1987 at Reception No. 87058593 and Supplemental Map No. 2 recorded April 29, 1988 at Reception No. 88019333 and according to Supplemental Map No. 3 recorded April 5, 1991 at Reception No. 91013942 and according to Supplemental Map No. 4 recorded November 29, 1993 at Reception No. 93089144 and any and all amendments and supplements thereto, all as recorded in Larimer County real property records.

Subject to the terms, conditions, provisions, obligations and restrictions of said Declaration.

County of Larimer, State of Colorado.

Parcel II

All time share periods as contained in Special Warranty Deed recorded November 27, 2002 at Reception No. 2002127977, Special Warranty Deed recorded April 20, 2004 at Reception No. 20040036928 and Special Warranty Deed recorded August 24, 2005 at Reception No. 20050071240 and Special Warranty Deed recorded July 13, 2007 at Reception No. 20070053761, Golden Eagle Condominium, a condominium according to the Condominium and Time Share Ownership Declaration for Golden Eagle Resort, a condominium recorded August 31, 1987 at Reception No. 87050238 and re-recorded October 16, 1987 at Reception No. 87059791 and as Amended by instrument recorded February 13, 1990 at Reception No. 90006436 and according to the Condominium Map for Golden Eagle Resort recorded August 31, 1987 at Reception No. 87050249 and Supplemental Map No. 1 recorded October 9, 1987 at Reception No. 87058593 and Supplemental Map No. 2 recorded April 29, 1988 at Reception No. 88019333 and according to Supplemental Map No. 3 recorded April 5, 1991 at Reception No. 91013942 and according to Supplemental Map No. 4 recorded November 29, 1993 at Reception No. 93089144 and any and all amendments and supplements thereto all as recorded in Larimer County real property records and subject to the following statement as set forth in Section 5B of said Declaration: “By Time Share Ownership Declaration for Golden Eagle Resort”, a Condominium (the “Declaration”) recorded August 31, 1987 at Reception No. 87050248 and re-recorded October 16, 1987 at Reception No. 87059791 and as amended by instrument recorded February 13, 1990 at Reception No. 90006436 in the Larimer County, Colorado real property records, Grantee acknowledges that his only rights to use condominiums in Golden Eagle Condominiums are as set forth in the Declaration and in the Articles of Incorporation, Bylaws and Rules and Regulations of Golden Eagle Resort Condominium Association, Inc., as amended from time to time EXCEPTING therefrom any time share period previously conveyed or not provided for in the Declaration.

County of Larimer, State of Colorado.

INVENTORY OWNED BY LOS ABRIGADOS PARTNERS LIMITED PARTNERSHIP

An undivided 193.5/9,516 fee simple interest in and to the real property described at Docket 1738, page 236, et seq., in the official records of the Coconino County Recorder, Coconino County, Arizona and attached hereto.

Subject to the general terms and conditions set forth in the Membership Plan for Sedona Vacation Club at Los Abrigados, as such plan may be amended from time to time (the “Plan”), recorded on January 11, 1995 at Docket 1738, page 236, and subject to the specific terms and conditions set forth in the Plan with respect to the following type of Membership:

		Unit Type:		2.5 Flagstaff, 180 Jerome, 8 Oak Creek, 2 Sedona, and 1 Stone House
		Annual Frequency:		Every Year
		Unit Number:		Not Applicable

Our No. 51000321

A Portion of the following described property:

AN UNDIVIDED 7,800/8,925 FRACTIONAL INTEREST IN THE FOLLOWING DESCRIBED PROPERTY:

A PARCEL OF LAND SITUATED IN THE SOUTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SECTION 7 AND THE NORTHEAST QUARTER OF SECTION 18, TOWNSHIP 17 NORTH, RANGE 6 EAST OF THE GILA AND SALT RIVER BASE AND MERIDIAN IN COCONINO COUNTY, ARIZONA, INCLUDING A PORTION OF LOTS 1 AND 10, AND ALL OF LOT 11 IN BLOCK 1, AND A PORTION OF LOT 4, AND ALL OF LOTS 1, 2 AND 3 IN BLOCK 2 OF HARTS VILLAGE SUBDIVISION, ACCORDING TO THE PLAT THEREOF RECORDED IN BOOK 2 OF MAPS, PAGE 54 OF THE COCONINO COUNTY RECORDERS OFFICE, TOGETHER WITH PORTIONS OF FOREST DRIVE, BLACK ROAD AND ORCHARD DRIVE, ABANDONED BY ORDER RECORDED JULY 25, 1955 IN BOOK 78 OF OFFICIAL RECORDS, PAGE 23 AND 24, ALL BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCING AT THE NORTHEAST CORNER OF SAID SECTION 18 AS MARKED BY A B.L.M BRASS CAPPED PIPE;

THENCE SOUTH 89 DEGREES 51 MINUTES 39 SECONDS WEST (SOUTH 89 DEGREES 48 MINUTES WEST REC.) A DISTANCE OF 261.99 (262.00 REC.) FEET ALONG THE NORTH LINE OF SAID SECTION 18 TO THE WESTERLY RIGHT-OF-WAY LINE OF ARIZONA STATE HIGHWAY 179, BEING THE TRUE POINT OF BEGINNING;

THENCE SOUTH 17 DEGREES 50 MINUTES 29 SECONDS WEST (SOUTH 18 DEGREES 17 MINUTES WEST REC.) A DISTANCE OF 452.29 (452.23 REC.) FEET ALONG SAID WESTERLY RIGHT-OF-WAY LINE OF ARIZONA STATE HIGHWAY 179 TO A POINT OF CURVATURE:

THENCE SOUTHWESTERLY ALONG SAID WESTERLY RIGHT-OF-WAY LINE OF ARIZONA STATE HIGHWAY 179, BEING A CURVE CONCAVE TO THE NORTHWEST HAVING A CENTRAL ANGLE OF 10 DEGREES 48 MINUTES 11 SECONDS CHORD BEARING OF SOUTH 23 DEGREES 14 MINUTES 34.5 SECONDS WEST AND RADIUS OF 921.93 FEET A DISTANCE OF 173.83 (173. 78. REC.) FEET TO A POINT;

THENCE NORTH 61 DEGREES 21 MINUTES 20 SECONDS WEST (NORTH 60 DEGREES 55 MINUTES WEST REC.) A DISTANCE OF 100.00 (100.00 REC.) FEET TO A POINT IN OAK CREEK;

THENCE SOUTH 38 DEGREES 21 MINUTES 31 SECONDS WEST (SOUTH 38 DEGREES 48 MINUTES WEST REC.) A DISTANCE OF 315.70 (315.71 REC.) FEET TO A POINT IN OAK CREEK;

THENCE SOUTH 46 DEGREES 56 MINUTES 20 SECONDS EAST (SOUTH 46 DEGREES 30 MINUTES EAST REC.) A DISTANCE OF 100.00 (100.00 REC.) FEET TO A POINT ON SAID WESTERLY RIGHT-OF-WAY LINE OF ARIZONA STATE HIGHWAY 179;

THENCE SOUTH 43 DEGREES 03 MINUTES 40 SECONDS WEST (SOUTH 43 DEGREES 30 MINUTES WEST REC.) A DISTANCE OF 121.37 (121.40 REC.) FEET ALONG SAID WESTERLY RIGHT-OF-WAY LINE OF ARIZONA STATE HIGHWAY 179 TO A POINT OF CURVATURE;

THENCE SOUTHWESTERLY ALONG SAID WESTERLY RIGHT-OF-WAY LINE OF ARIZONA STATE HIGHWAY 179 BEING A CURVE CONCAVE TO THE SOUTHEAST HAVING A CENTRAL ANGLE OF 18 DEGREES 10 MINUTES 54 SECONDS, CHORD BEARING OF SOUTH 33 DEGREES 58 MINUTES 13 SECONDS WEST AND RADIUS OF 605.96 FEET A DISTANCE OF 192.29 (201.40 REC.) FEET TO A POINT ON THE FOLLOWING DESCRIBED LINE;

THENCE SOUTH 89 DEGREES 42 MINUTES 41 SECONDS WEST (WEST REC.) A DISTANCE OF 108.01 (115 REC.) FEET ALONG A LINE LYING 200.00 FEET

Our No. 51000321

NORTH OF AND PARALLEL WITH THE SOUTH LINE OF THE NORTHEAST QUARTER OF THE NORTHEAST QUARTER OF SAID SECTION 18 TO A POINT IN OAK CREEK; THENCE NORTH 31 DEGREES 30 MINUTES 00 SECONDS EAST (NORTH 31 DEGREES 30 MINUTES EAST REC.) A DISTANCE OF 436.04 (430.00 REC.) FEET TO A POINT IN OAK CREEK;

THENCE SOUTH 83 DEGREES 00 MINUTES 00 SECONDS WEST (SOUTH 83 DEGREES WEST REC.) A DISTANCE OF 130.00 (125 REC.) FEET TO A POINT IN OAK CREEK;

THENCE SOUTH 78 DEGREES 00 MINUTES 00 SECONDS WEST A DISTANCE OF 160.00 (160.5 PLUS OR MINUS REC.) FEET TO A POINT IN OAK CREEK; THENCE SOUTH 44 DEGREES 25 MINUTES 00 SECONDS WEST A DISTANCE OF 24.36 (16.33) REC.) FEET TO A POINT IN OAK CREEK;

THENCE NORTH 11 DEGREES 53 MINUTES 00 SECONDS WEST A DISTANCE OF 122.98 (120.59 REC.) FEET TO A POINT;

THENCE NORTH 04 DEGREES 30 MINUTES 00 SECONDS WEST A DISTANCE OF 180.60 FEET TO A POINT;

THENCE NORTH 77 DEGREES 27 MINUTES 00 SECONDS WEST (NORTH 77 DEGREES 44 MINUTES WEST REC.) A DISTANCE OF 564.08 FEET TO A POINT OF CURVATURE;

THENCE NORTHWESTERLY ALONG A CURVE CONCAVE TO THE NORTHEAST HAVING A CENTRAL ANGLE OF 27 DEGREES 43 MINUTES 44 SECONDS (27 DEGREES 43 MINUTES 40 SECONDS REC.), CHORD BEARING OF NORTH 63 DEGREES 35 MINUTES 08 SECONDS WEST AND RADIUS OF 261.07 (261.07 REC.) FEET, A DISTANCE OF 126.35 (126.3 REC.) FEET TO A POINT OF NON-TANGENCY;

THENCE WEST (WEST REC.) A DISTANCE OF 51.84 (41.85 REC.) FEET TO A POINT;

THENCE NORTH 05 DEGREES 20 MINUTES 14 SECONDS EAST (NORTH 05 DEGREES 17 MINUTES EAST REC.) A DISTANCE OF 54.50. (61.7 REC.) FEET TO A POINT; THENCE NORTH 34 DEGREES 13 MINUTES 46 SECONDS WEST (NORTH 34 DEGREES 17 MINUTES WEST REC.) A DISTANCE OF 27.64 (26.3 REC.) FEET TO A POINT ON THE SOUTHEASTERLY RIGHT-OF-WAY LINE OF BREWER HIGHWAY ACCORDING TO THE PLAT THEREOF RECORDED IN BOOK 2 OF MAPS, PAGE 139 OF THE COCONINO COUNTY RECORDERS OFFICE;

THENCE NORTH 58 DEGREES 03 MINUTES 46 SECONDS EAST (NORTH 57 DEGREES 28 MINUTES EAST REC.) A DISTANCE OF 48.17 (44.3 REC.) FEET ALONG SAID SOUTHEASTERLY RIGHT-OF-WAY LINE OF BREWER HIGHWAY TO A POINT OF CURVATURE;

THENCE NORTHEASTERLY ALONG SAID SOUTHEASTERLY RIGHT-OF-WAY LINE OF BREWER HIGHWAY, BEING A CURVE CONCAVE TO THE NORTHWEST HAVING A CENTRAL ANGLE OF 43 DEGREES 33 MINUTES 43 SECONDS (43 DEGREES 57 MINUTES REC.), chord bearing of North 36 Degrees 16 Minutes 54.5 Seconds East and radius of 176.24 (176.24rec.) feet, a distance of 134.00 (135.19 rec.) feet along said Southeasterly right-of-way line of Brewer Highway to a point on the North line of said Section 18, THENCE North 89 Degrees 51 Minutes 39 Seconds East a distance of 352.42 feet along said North line of Section 18 to the Southwest corner of the Southeast quarter of the Southeast quarter of said Section 7;

THENCE North 01 Degrees 04 Minutes 02 Seconds (North 01 Degrees 40 Minutes 30 Seconds West rec.) a distance of 158.79 feet along the West line of said Southeast quarter of the Southeast quarter of Section 7 to a point;

THENCE South 85 Degrees 17 Minutes 23 Seconds East a distance of 65.58 feet to a point;

Our No. 51000321

THENCE South 02 Degrees 32 Minutes 25 Seconds West a distance of 23.84 feet to a point;

THENCE North 89 Degrees 16 Minutes 39 Seconds East a distance of 15.50 feet to a point on the East line of said Lot 1 of Block I of the HART’S VILLAGE SUBDIVISION lying North 05 Degrees 45 Minutes 06 Seconds West a distance of 8.20 feet from a 1/2 inch pipe found at the Southwest corner of Lot 10 of said Block I;

THENCE South 89 Degrees 48 Minutes 35 Seconds East (South 89 Degrees 22 Minutes East rec.) a distance of 176.73 feet to a point;

THENCE North 00 Degrees 11 Minutes 34 Seconds West a distance of 52.03 feet to a point;

THENCE North 89 Degrees 51 Minutes 39 Seconds East a distance of 1.50 feet to a point on the center line of Orchard Drive (presently abandoned) of said HART’S VILLAGE SUBDIVISION;

THENCE North 89 Degrees 51 Minutes 39 Seconds East a distance of 23.04 feet along the North line (and it’s Westerly extension) of Lot I of Block II of said HART’S VILLAGE SUBDIVISION to a point;

THENCE North 00 Degrees 08 Minutes 21 Seconds West (North 00 Degrees 08 Minutes 21 Seconds West (North 00 Degrees 43 Minutes West rec.) a distance of 112.73 feet to a point on the center line of a private road easement described in Docket 930, Page 406 of the Coconino County Recorder’s Office;

THENCE North 88 Degrees 39 Minutes 39 Seconds East (North 88 Degrees 05 Minutes East rec.) a distance of 46.79 feet along said center line of a private road easement to a point;

THENCE North 58 Degrees 01 Minutes 39 Seconds East (North 57 Degrees 27 Minutes East rec.) a distance of 11.83 (13.52 rec.) feet along said center line of private road to the East line of Lot 4 Block II of said Hart’s Village Subdivision;

THENCE South 41 Degrees 22 Minutes 21 Seconds East (South 41 Degrees 21 Minutes East rec.) a distance of 159.90 (159.22 rec.) feet to the North corner of Lot 3 of Block II of said Hart’s Village Subdivision;

THENCE South 47 Degrees 58 Minutes 21 Seconds East a disatance of 75.00 (75 rec.) feet to an angle point in the Northeasterly line of said Lot 3;

THENCE South 32 Degrees 50 Minutes 18 Seconds East (South 32 Degrees 50 Minutes East rec.) a distance of 154.77 feet along the Northeasterly line (and it’s Southeasterly extension) of said Lot 3 to a point on the North line of said Section 18;

THENCE North 89 Degrees 51 Minutes 39 Seconds East a distance of 0.31 feet along said North line of Section 18 to a point;

THENCE South 34 Degrees 46 Minutes 21 Seconds East (South 34 Degrees 50 Minutes East rec) a distance of 160.69 feet to a point;

THENCE South 63 Degrees 10 Minutes 57 Seconds West a distance of 198.38 feet to a point;

THENCE South 00 Degrees 03 Minutes 39 Seconds West (South rec.) a distance of 71.38 feet to a point;

THENCE North 89 Degrees 51 Minutes 39 Seconds East (North 89 Degrees 48 minutes East rec.) a distance of 322.58 feet to a point;

THENCE North 16 Degrees 01 Minutes 39 Seconds East (North 15 Degrees 58 Minutes East rec.) A distance of 304.70 (304.70 rec.) feet to a point on the North line of said Section 18;

THENCE North 89 Degrees 51 Minutes 39 Seconds East (North 89 Degrees 48 Minutes East rec.) a distance of 154.01 (153.93 rec.) feet to the

Our No. 51000321

TRUE POINT OF BEGINNING.

EXCEPTING THEREFROM any portion of the above described property conveyed to The State of Arizona, by and through it’s Department of Transportation in Warranty Deed(s) recorded March 1, 2007 in Instrument No. 3427878 & 3427879.

Basis of bearings is South 89 Degrees 51 Minutes 39 Seconds West along the North line of the Northeast quarter of said Section 18 as marked by B.L.M. brass capped pipes.

This legal description was prepared by A.L.T.A. survey by Landmark Engineering & Surveying, Inc.,(Job No. 83036-E) dated 12-21-87 and revised 1-12-88.

INVENTORY OWNED BY VCA SOUTH BEND INCORPORATED

     An undivided 1,914.5/31,304 fee simple interest in the real property described at Document No. 9444622, official records of St. Joseph County, Indiana and attached hereto, subject to the general terms and conditions set forth in the Membership Plan for Varsity Clubs of America — South Bend Chapter, as such plan may be amended from time to time (the “Plan”), recorded December 2, 1994 at Document No. 9444622 in said records;

Together with all rights and privileges appurtenant thereto.

Subject to the specific terms and conditions set forth in the Plan with respect to the following types of membership in the Club:

VARSITY CLUBS OF AMERICA — SOUTH BEND CHAPTER

Occupancy Period:		273.5 separate Full Weeks
		(1,914.5 fractional interest)
Annual Frequency:		Each Week Every Year

Number of Weeks/Unit Type/Seasonal Priority:

52 Weeks — One Bedroom — Freshman

5 Weeks — One Bedroom — Junior

43.5 Weeks — One Bedroom — Sophomore

142 Weeks — One Bedroom — Senior

31 Weeks — Two Bedroom — Senior

Schedule A

EXHIBIT A

PARCEL I: That part of the West half of the Southeast Quarter of the Southeast Quarter of Section 33, Township 38, North, Range 3 East, City of Mishawaka, St. Joseph County, Indiana which is described as: From the South Quarter Post of said Section measure North 89º12’23” East along the South line of said Section, 1323.58 feet to the Southwest corner of the Southeast Quarter of said Section and North 00º24’02” East along the West line East ¹/2, Southeast Quarter of the Southeast Quarter of said Section, 410.29 feet to a Found Iron marking a point on the centerline of a 110.00 foot wide Indiana and Michigan Electrical Easement (North 00º00’00” East, 411.20, record) and North 89º19’55” East along said centerline, 134.24 feet (North 89º35’42” East, record)for the POINT OF BEGINNING of this description; thence North 89º19’55” East, 523.86 feet (North 89º35’42” East, 527.75 feet record) to a Found Iron; thence South 00º06’47” East along the East line of the Southeast Quarter of the Southeast Quarter of said Section, 353.78 feet (South 00º01’00” West 334.18 feet, record) to a point on the North Right of Way line of Edison Lakes Parkway; thence South 89º12’23” West parallel with and 55.0 feet North of the South line of said Section 33,424.79 feet (South 89º25’03” West, record); thence North 45º30’06” West, 5.35 feet; thence North 00º35’51” West, 43.75 feet; thence South 89º24’09” West, 17.24 feet to a point on the Easterly right of way line of Main Street; thence around a 858.51 foot radius curve to the left an arc distance of 276.15 feet to the end of a chord which bears North 13º07’37” West and having a distance of 274.97 feet; thence North 22º20’32” West, 42.58 feet to the POINT OF BEGINNING.

PARCEL II: That part of the West Half of the Southeast Quarter of the Southeast Quarter of Section 33, Township 38 North, Range 3 East, City of Mishawaka, St. Joseph County, Indiana which is described as: From the South Quarter Post of said Section measure North 89º 12’23” East along the South line of said Section 1323.58 feet to the Southwest corner of the Southeast Quarter of said Section and North 00º24’02” East along the West line of the Southeast Quarter of the Southeast Quarter of said Section 410.29 feet to a Found Iron marking a point on the centerline of a 110,00 foot wide Indiana and Michigan Electrical Easement (North 00º00’00” East, 411.20 feet, record) and North 89º19’55” East along said centerline, 134.24 feet (North 89º35’42” East, record) and South 22º20’32” East 41.58 feet and South 13º07’37” East, 274.97 feet for the POINT OF BEGINNING of this description; thence around a 858.51 foot radius curve to the Right an Arc distance of 27.63 feet to the end of a chord which bears South 02º59’24” East and having a distance of 27.63 feet; thence South 45º30’06” East, 22.79 feet; thence North 00º35’51” West, 43.75 feet; thence South 89º24’09” West, 17.24 feet to the POINT OF BEGINNING.

PARCEL III: That part of East Half of the Southeast Quarter of the Southeast Quarter of Section 33, Township 38 North, Range 3 East, City of Mishawaka, St., Joseph County, Indiana which is described as: From a “Harrison Monument” in a Monument Box marking the Southeast corner of said Section measure South 89º12’23” West along the South line of said Section, 661.79 feet to the Southwest corner of the East Half of the Southeast Quarter of the Southeast Quarter of said Section and North 00º06’47” West, 55.00 feet for the POINT OF BEGINNING of this description; thence North 00º06’47” West along the West line of the East half of the Southeast Quarter of the Southeast Quarter of said section, 195.00 feet; thence North 89º12’23” East parallel with the South line of Section 33,86.00 feet; thence South 00º06’47” East, 195.00 feet; thence South 89º12’23” West parallel with and 55.00 feet North of the South line of said Section, 86.00 feet of the POINT OF BEGINNING.

INVENTORY OWNED BY VCA TUCSON INCORPORATED

     An undivided 360.5/21,840 fee simple interest in and to the real property described at Docket 10594, page 1981, et seq., in the official records of Pima County, Arizona and attached hereto, as provided for in the Membership Plan for Varsity Clubs of America — Tucson Chapter, as such plan may be amended from time to time (the “Plan”), recorded on July 24, 1997 at said Docket and page at Sequence No. 97116900.

     Subject to the terms and conditions set forth in the Plan and subject to the specific terms and conditions set forth in the Plan with respect to the following types of Membership:

Membership Category:		Vacation
Unit Types:		2.5 Studio, 4.5 - 1 Bedroom
Occupancy Period:		One Week
Annual Frequency:		Every Year
Unit Number:		Not Applicable
Membership Category:		Gem
Unit Types:		36-1 Bedroom and 8.5 - 2 Bedroom
Occupancy Period:		One Week
Annual Frequency:		Every Year
Unit Number:		Not Applicable

EXHIBIT A

Lots 3, 4, 5, 11 and the South 60 feet of Lot 6, in Block 15, of Speedway Park Addition, as shown by map recorded in Book 4 of Maps and Plats at Page 95, Pima County, Arizona.

EXCEPT the following described parcels I, II, III and IV:

Parcel I:

That portion lying within widened Speedway as established by Resolution recorded in Docket 142 at Page 66 and shown in Plat recorded in Book 4 of Road Maps, at Page 80.

Parcel II:

That portion conveyed to the City of Tucson for street right-of-way by Deed recorded in Docket 3098 at Page 1.

Parcel III:

That portion acquired by the City of Tucson for public street by Order recorded in Docket 7996 at Page 1651.

Parcel IV:

That portion dedicated by the City of Tucson as right-of-way by Ordinance No. 7966 recorded in Docket 9457 at Page 730.

INVENTORY OWNED BY GENESIS INVESTMENT GROUP, INC.

     All that certain parcel of real property situated in Clark County, State of Nevada, more particularly described as follows:

THE NUMBER OF ONE NINETY-THIRD (1/93^rd) UNIDIVIDED INTERESTS AS TENANTS IN COMMON IN AND UNTO THE CONDOMINIUM UNIT NUMBERS SET FORTH IN EXHIBIT “A-1” WITHIN THE PROJECT KNOWN AS THE CARRIAGE HOUSE AND MORE PARTICULARLY DESCRIBED AS FOLLOWS:

UNIT (See Below) of the Amended Plat of THE CARRIAGE HOUSE, as the same is established and identified in the Plan of Condominium filed pursuant to the provisions of NRS 117.020, recorded March 5, 1974, in Book 16 of Plats, at Page 71, Official Records, Clark County, Nevada, and as defined in that certain Declaration of Restrictions recorded March 5, 1974, as Instrument No. 365570, in Book 406, Official Records, Clark County, Nevada, and more particularly described by and subject to the First Supplemental of the Declaration of Condominium of Carriage House Condominium recorded in the Official Records of Office of the County Recorder of Clark County, Nevada , in Book 1883 as Document No. 1842655, as amended (“Declaration”).

EXCEPTING FROM SUCH INTEREST, the exclusive right to use and occupy the specific Condominium Unit to which such Timeshare Interest attaches and reserving unto the Declarant, its successors and assigns, all those certain easements referred to in the aforesaid Declaration.

TOGETHER WITH the right to use and occupy the type of Unit designated during the Season (“Designated Season”) as each are further defined and set forth in the contract between the Developer from whom GRANTOR’s predecessors took title and in the current Rules and Regulations of the Carriage House Timeshare Association.

TOGETHER and with all the rights and privileges and subject to the covenants, conditions, easements and restrictions set forth in the said Declaration and the By-Laws, and the Rules and Regulations of the Carriage House Timeshare Association, Inc., as each of those documents may be amended from time to time.

Account No.: See Below for account numbers.

Carriage
House
Account #		Type		Season
16829		1 Bed Mst VP		Silver
14421		1 Bed Mst VP		Gold
14422		1 Bed Mst VP		Gold
15736		1 Bed Mst VP		Bronze
16592		1 Bed Mst VP		Gold
14877		1 Bed Mst VP		Gold
70597		1 Bed Mst VP		Gold

Unsold Timeshare Interests

Seller’s interests in the unsold Timeshare Interests as of the Closing Date. [The numbers below are as of June 9, 2010]

[1,648]. Copper Memberships (consisting of [1,665] odd year and [1,631] even year use)
[3,341.5] ¹ Silver Memberships (consisting of [3,433] odd year and [3,250] even year use)
[2,140.5] ¹ Gold Memberships (consisting of [2,115] odd year and [2,166] even year use)
[74] Platinum Memberships (consisting of [76] odd year and [72] even year use)

¹ Memberships before pending ADRE approval of Fourteenth Annexation (adding 71.5 Silver Memberships) and Seventh Deannexation (removing 71.5 Gold Memberships).

EXHIBIT C
List of Existing Club Resorts

Vacation Ownership Interests in the following Resorts have been annexed to Premiere Vacation Club:

Los Abrigados Resort & Spa, Sedona, Arizona
The Inn at Los Abrigados, Sedona, Arizona
Premiere Vacation Club at Bell Rock, Village of Oak Creek, Arizona
Kohl’s Ranch, Payson, Arizona
Varsity Clubs of America — Tucson, Tucson, Arizona
Varsity Clubs of America — South Bend, South Bend, Indiana
Premiere Vacation Club at the Roundhouse Resort, Pinetop, Arizona
Sea of Cortez Premiere Vacation Club, Puerto Penasco, Mexico
The Golden Eagle Resort, Estec Park, Colorado
The Carriage House, Las Vegas, Nevada
Rancho Manana, Cave Creek, Arizona
The Roundhouse Resort, Pinetop, Arizona
Scottsdale Camelback Resort, Scottsdale, Arizona
Celebrity House, Sedona, Arizona
Winner’s Circle

Exhibit C-1

EXHIBIT D
List of Existing Contracts

(Attached)

Exhibit D-1

Property Management Agreements

To the extent assignable, any of Sellers’ interests in the following management agreements:

	•		Management Agreement between ILX Resorts Incorporated and Premiere Vacation Club, effective January 6, 2008, as amended
	•		Management Agreement between Golden Eagle Resort, Inc., and Golden Eagle Resort Condominium Association, effective June 1, 1992, as amended
	•		Management Agreement between VCA Management Incorporated and Varsity Clubs of America - Tucson Chapter, effective July 20, 1995, as amended
	•		Management Agreement between VCA Management Incorporated and Varsity Clubs of America - South Bend Chapter, effective September 1, 1994, as amended
	•		Management Agreement for The Inn at Los Abrigados Owners Association between The Inn at Los Abrigados Owners Association and ILX Incorporated, dated November 25, 1997, as amended
	•		Management Agreement between ILX Incorporated and Kohl’s Ranch Owners Association, effective April 13, 1995, as amended;
	•		Management Agreement between ILX Resorts Incorporated and ILX Bell Rock Incorporated, effective December 28, 2000, as amended.”
	•		Management Agreement between Sedona Vacation Club and ILX Resorts Incorporated, effective September 10, 2001.

To the extent assignable, any of Sellers’ interests in the agreements to manage:

	•		Varsity Clubs of America — South Bend Chapter
	•		Varsity Clubs of America —Tucson Chapter
	•		The Golden Eagle Resort

To the extent assignable, any of Sellers’ interests in and to any and all other documents and instruments and any amendments relating to or in any way connected with the agreements referred to above.

Executory Contracts

To the extent assignable, any of Sellers’ interests in the agreements to manage:

	•		Kohl’s Ranch Vacation Club
	•		Sedona Vacation Club
	•		Premiere Vacation Club
	•		Premiere Vacation Club at Bell Rock
	•		The Inn at Los Abrigados Owners Association

To the extent assignable, any interests of VCA Management Incorporated (a non-Seller) in agreements to manage:

	•		Varsity Clubs of America — South Bend Chapter
	•		Varsity Clubs of America — Tucson Chapter

To the extent assignable, any interest of Golden Eagle Resort, Inc. (a non-Seller) in the agreement to manage the Golden Eagle Resort Condominium Association.

To the extent assignable, any of Sellers’ interests in the following executory contracts:

	•		Premiere Vacation Club Membership Plan
	•		Sedona Vacation Club Membership Plan
	•		Kohl’s Ranch Vacation Club Membership Plan
	•		Varsity Clubs of America — Tucson Chapter Membership Plan
	•		Varsity Clubs of America— South Bend Chapter Membership Plan
	•		Condominium and Timeshare Ownership Declaration for Golden Eagle Resort, a Condominium
	•		Declaration of Covenants, Conditions and Restrictions for The Inn at Los Abrigados
	•		Lease with Option to Purchase by and between ILX Resorts Incorporated and Indian Wells Partners for lease of property at 91 Portal Lane, Sedona, Arizona
	•		Contract of Services by and between ILX Resorts Incorporated and Grupo Administrativo Vacation S.A. de C.V. dated September 30, 2009 regarding leasing of employees

Leases

Lease with Option to Purchase by and between ILX Resorts Incorporated and Indian Wells Partners for lease of property at 91 Portal Lane, Sedona, Arizona.

EXHIBIT E
Legal Description of Forest Service Land

(Attached)

Exhibit E-1

Schedule 2.2(iii)

Landmark Engineering & Surveying, Inc.

sedona     v     FOUNDED 1979     v     tuba city

p.o. box 1907

sedona, az 86339

(928) 282-7104 voice

(928) 282-7171 fax

xxx.xxxxxxxxxx.xxx

[ILLEGIBLE]@xxxxxxxxxx.xxx

m.Tod Graham I.R.L.S.

president

July 26, 2005 Job No.: 105036

LEGAL DESCRIPTION
PARCEL “A”

A parcel of land being a portion of the Southwest quarter of the Southeast quarter of Section 7, Township 17 North, Range 6 East of the Gila and Salt River Meridian in Coconino County, Arizona, said parcel being more particularly described as follows:

Beginning at a B.L.M. Brass Capped Pipe found at the South quarter corner of said Section 7, from which a U.S.D.A. Forest Service Aluminum Capped Rod found at the Southeast corner of said Southwest quarter of the Southeast quarter of Section 7, lies N89°52’01”E a distance of 1,317.01 feet;

THENCE along the South line of said Southwest quarter of the Southeast quarter of Section 7, N89° 52’01”E a distance of 930.22 feet to a point in the pavement of Brewer Road;

THENCE along Brewer Road the following courses:

    THENCE N29°19’03”E a distance of 227.00 feet to a Point of Curvature;

THENCE Northeasterly along a tangent curve to the left and concave to the Northwest having a radius of 286.48 feet, chord bearing and length of N24°08’13”E ~ 51.72 feet and central angle of 10°21’28”, an arc distance of 51.79 feet to a point of nontangency on the North line of the Southwest quarter of the Northwest quarter of the Southeast quarter of the Southeast quarter of the Southwest quarter of the Southeast quarter of said Section 7;

THENCE departing Brewer Road, S89°50’54”W a distance of 243.00 feet to a U.S.D.A. Forest Service Aluminum Capped Rod found at the Northwest corner of the South half of the Northeast quarter of the Southwest quarter of the Southeast quarter of the Southwest quarter of the Southeast quarter of said Section 7;

THENCE N00°47’09”W a distance of 81.45 feet to a U.S.D.A. Forest Service Aluminum Capped Rod found at the Northeast corner of the Northwest quarter of the Southwest quarter of the Southeast quarter of the Southwest quarter of the Southeast quarter of said Section 7;

THENCE S89°49’14”W a distance of 492.43 feet to a U.S.D.A. Forest Service Aluminum Capped Rod found at the Northwest corner of the Southeast quarter of the Southwest quarter of the Southwest quarter of the Southeast quarter of said Section 7;

THENCE N00°36’31”W a distance of 814.43 feet to a U.S.D.A. Forest Service Aluminum Capped Rod found at the Northeast corner of the Southeast quarter of the Northwest quarter of the Northwest quarter of the Southwest quarter of the Southeast quarter of said Section 7;

THENCE S89°30’18”W a distance of 81.63 feet to a U.S.D.A. Forest Service Aluminum Capped Rod found at the Southeast corner of the West half of the Northeast quarter of the Northwest quarter of the Northwest quarter of the Southwest quarter of the Southeast quarter of said Section 7;

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THENCE N00°36’51”W a distance of 162.74 feet to a U.S.D.A. Forest Service Aluminum Tablet in rock found at the Northeast corner of the West half of the Northeast quarter of the Northwest quarter of the Northwest quarter of the Southwest quarter of the Southeast quarter of said Section 7;

THENCE S89°46’37”W a distance of 243.95 feet to a U.S.D.A Forest Service Aluminum Capped Rod found at the Northwest corner of the Southwest quarter of the Southeast quarter of said Section 7;

THENCE S00°26’25”E. a distance of 1,302.04 feet to the point of beginning.

The basis of bearings for this legal description is N01°44’00”E along to the West line of the Southwest quarter of said Section 7 as monumented by G.L.O. brass capped pipes per B.L.M. plat of a Dependent Resurvey of a portion of Township 17 North, Range 6 East, dated April 12, 1960.

All U.S.D.A. Forest Service monuments referenced above were set by Gary L. Berg, Arizona Land Surveyor No.15666.

EXHIBIT F
List of Existing Management Agreements

(Attached)

Exhibit F-1

Property Management Agreement

To the extent assignable, any of Sellers’ interests in the following management agreements:

	•		Management Agreement between ILX Resorts Incorporated and Premiere Vacation Club, effective January 6, 2008, as amended
	•		Management Agreement between Golden Eagle Resort, Inc., and Golden Eagle Resort Condominium Association, effective June 1, 1992, as amended
	•		Management Agreement between VCA Management Incorporated and Varsity Clubs of America — Tucson Chapter, effective July 20, 1995, as amended
	•		Management Agreement between VCA Management Incorporated and Varsity Clubs of America — South Bend Chapter, effective September 1, 1994, as amended
	•		Management Agreement for The Inn at Los Abrigados Owners Association between The Inn at Los Abrigados Owners Association and ILX Incorporated, dated November 25, 1997, as amended
	•		Management Agreement between ILX Incorporated and Kohl’s Ranch Owners Association, effective April 13, 1995, as amended;
	•		Management Agreement between ILX Resorts Incorporated and ILX Bell Rock Incorporated, effective December 28, 2000, as amended.”
	•		Management Agreement between Sedona Vacation Club and ILX Resorts Incorporated, effective September 10, 2001.

To the extent assignable, any of Sellers’ interests in the agreements to manage:

	•		Varsity Clubs of America — South Bend Chapter
	•		Varsity Clubs of America — Tucson Chapter
	•		The Golden Eagle Resort

To the extent assignable, any of Sellers’ interests in and to any and all other documents and instruments and any amendments relating to or in any way connected with the agreements referred to above.

EXHIBIT G
Form of Bankruptcy Court Sale Order

(Attached)

Exhibit G-1

		SO ORDERED.
		Dated: July 23, 2010

/s/ REDFIELD T. BAUM, SR  

REDFIELD T. BAUM, SR 

U.S. Bankruptcy Judge 

IN THE UNITED STATES BANKRUPTCY COURT

THE DISTRICT OF ARIZONA

In re:

ILX RESORTS INCORPORATED, et al.

		Debtor(s)
Address:		160 Portal Lane
		Sedona, AZ 86336
Tax EIN:		xx-xxx4171

This filing applies to:

þ All Debtors

o Specified Debtors

Chapter 11 Proceedings

Case No. 2:09-bk-03594-RTB
Case No. 2:09-bk-03595-RTB
Case No. 2:09-bk-03596-RTB
Case No. 2:09-bk-03598-RTB
Case No. 2:09-bk-03599-RTB
Case No. 2:09-bk-03600-RTB
Case No. 2:09-bk-03601-RTB
Case No. 2:09-bk-03603-RTB
Case No. 2:09-bk-03604-RTB
Case No. 2:09-bk-03605-RTB
Case No. 2:09-bk-03606-RTB
Case No. 2:09-bk-03608-RTB
Case No. 2:09-bk-03609-RTB
Case No. 2:09-bk-03610-RTB
Case No. 2:09-bk-03612-RTB
Case No. 2:09-bk-03617-RTB

Joint Administration under
Case No. 2:09-bk-03594-RTB

ORDER AUTHORIZING: (1) SALE
OF SUBSTANTIALLY ALL ASSETS
OF THE DEBTORS FREE AND CLEAR
OF ALL LIENS, CLAIMS, INTERESTS
AND ENCUMBRANCES; AND (2)
ASSUMPTION AND ASSIGNMENT
OF CERTAIN EXECUTORY CONTRACTS
AND UNEXPIRED LEASES

     Upon consideration of the motion of the above-captioned debtors and debtors-in-possession (collectively, the “Debtors”) for entry of an order granting the Motion for Order (A) Authorizing Sale of Estates’ Assets Free and Clear of Liens, Claims and Interests; And (B) Authorizing

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Assumption and Assignment of Contracts and Leases in Connection with Such Sale (the “Sale Motion”) and the Court having reviewed the Motion and any responses thereto and after having found that sufficient and proper notice was given to all creditors and parties in interest of the Debtors who were required to receive it, and sufficient cause appearing therefor;

     IT IS HEREBY FOUND AND ORDERED THAT:

     1. The Sale Motion is granted and approved in its entirety.

     2. The Debtors are hereby authorized and directed to take any and all actions necessary or appropriate to:

     a. consummate the proposed sale to ILX Acquisition Inc. (the “Proposed Purchaser”) in accordance with the terms and conditions set forth in the Asset Purchase Agreement¹ and any and all amendments thereto, including, without limitation, to convey to the Proposed Purchaser the assets (the “Acquired Assets”) which are the subject of the Asset Purchase Agreement; and

     b. perform, consummate, implement, and close fully the sale to the Proposed Purchaser of the Acquired Assets, together with all additional instruments and documents that may be reasonably necessary or desirable to implement such sale.

     3. The Proposed Purchaser is a good faith purchaser entitled to the protections afforded a purchaser pursuant to 11 U.S.C. § 363(m), and there have not been and are not any violations of section 363(n) of the Bankruptcy Code as a result of the approval of the sale of the Acquired Assets to the Proposed Purchaser.

     4. The sale of the Acquired Assets to the Proposed Purchaser shall be, and hereby is, free and clear of any and all liens, claims, rights, interests, and encumbrances whatsoever (except as expressly provided in the Asset Purchase Agreement and except as mutually agreed between Proposed Purchaser and Textron Financial Corporation (“Textron Financial”)).

¹ Capitalized terms not defined herein shall have the meaning ascribed thereto in the Sale Motion or, if not defined therein, in the Asset Purchase Agreement. All other terms shall have the meanings ascribed to such terms in the Bankruptcy Code, it defined therein.

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     5. The Debtors are hereby authorized, pursuant to 11 U.S.C. § 365, to assume and assign to the Proposed Purchaser the Contracts. As a condition to such assumption and assignment pursuant to section 365 of the Bankruptcy Code, all cure amounts due to counterparties to such Contracts must be paid. These payments shall be in full and final satisfaction of all obligations and as full compensation to counterparties for any pecuniary losses under such contracts or leases pursuant to 11 U.S.C. § 365(b)(1). The distribution of the cure payments to the counterparties shall be made as soon as practicable; provided, however, that if there is a dispute concerning any proposed cure amount, payment shall be made by the Proposed Purchaser to the respective contract or lease counterparty only after final resolution of such dispute, by this Court or otherwise. This Court finds that the Proposed Purchaser has provided adequate assurance of future performance of the Contracts.

     6. The Debtors are hereby authorized, pursuant to 11 U.S.C. §§ 363 and 365, as applicable, to assume and to assign to the Proposed Purchaser the Contracts. The Debtors are further authorized and directed to take any and all actions necessary or appropriate to consummate the proposed assignment of the various contracts and leases to the Proposed Purchaser, as specified in the Sale Motion and in the Asset Purchase Agreement. The Debtors are relieved of any liability for any breach of any Contract occurring after the assignment of such Contracts to the Proposed Purchaser.

     7. The Proposed Purchaser is not a successor to the Debtors or, except for assumed liabilities and obligations set forth in the Asset Purchase Agreement, otherwise liable for any of the claims against or liabilities or obligations of the Debtors (collectively, the “Excluded Liabilities”), and each and every holder of any of the Excluded Liabilities hereby is permanently enjoined from commencing, continuing, or otherwise pursuing or enforcing any remedy, claim, cause of action, or encumbrance against the Proposed Purchaser related thereto.

     8. At the closing of the sale of the Acquired Assets, the Proposed Purchaser shall pay the amounts required by the Asset Purchase Agreement.

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     9. Except as otherwise expressly provided in the Asset Purchase Agreement and as set forth in the next sentence and except as mutually agreed between Proposed Purchaser and Textron Financial, effective upon the transfer of the Acquired Assets to the Proposed Purchaser, any liens against the Acquired Assets shall attach to the proceeds of the sale with the same force, validity, priority, and effect, if any, as said liens had formerly attached to the Acquired Assets, subject to the Debtors’ ability to challenge the extent, validity, priority and effect of the liens, and subject to and as otherwise provided in any other order of this Court in this chapter 11 case.

     10. This Order is and shall be effective as a determination that, upon transfer of the Acquired Assets to the Proposed Purchaser and except as mutually agreed between Proposed Purchaser and Textron Financial and in consideration of the attachment of the liens as set forth in Paragraph 9 of this Order, all liens, claims, and encumbrances existing as to the Acquired Assets conveyed to the Proposed Purchaser have been and hereby are terminated and declared to be unconditionally released, discharged, and terminated, and shall be binding upon and govern the acts of all entities, including all filing agents, filing officers, administrative agencies or units, governmental departments or units, secretaries of state, federal, state and local officials, and all other persons and entities who may be required by operation of law, the duties of their office, or contract, to accept, file, register, or otherwise record or release any documents or instruments, or who may be required to report or insure any title or state of title in or to the Acquired Assets conveyed to the Proposed Purchaser. Except as otherwise provided in this Order, all liens of record as of the date of this Order, shall be forthwith removed and stricken as against the Acquired Assets. All entities described in this paragraph are specifically authorized and directed to strike all such recorded liens against the Acquired Assets from their records, official, and otherwise.

     11. Subject to the provisions of this Order and except as mutually agreed between Proposed Purchaser and Textron Financial, if any person or entity which has filed statements or other documents or agreements evidencing liens on, or interests in, any of the Acquired Assets does not deliver to the Debtors or the Proposed Purchaser prior to the closing of the sale of the Acquired Assets to the Proposed Purchaser, in proper form for filing and executed by the appropriate parties,

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termination statements, instruments of satisfaction, releases of liens and easements, and any other documents necessary for the purpose of documenting the release of all liens which the person or entity has or may assert with respect to any of the Acquired Assets, the Debtors and/or the Proposed Purchaser are hereby authorized and directed to execute and file such statements, instruments, releases, and other documents on behalf of such persons or entity with respect to any of the Acquired Assets.

     12. Each and every term and provision of this Order shall be binding in all respects upon the Proposed Purchaser, the Debtors, the Debtors’ bankruptcy estates, their creditors, all individuals or entities holding an interest in the Debtors, all other entities and third parties, including, without limitation, any entity purporting to hold a lien against the Acquired Assets and all of the Debtors’ timeshare members.

     13. Nothing contained in any Order of any type or kind entered in these cases, or any related proceeding, subsequent to entry of this Order, shall conflict with or derogate from the provisions of the terms of this Order.

     14. In accordance with section 1146(c) of the Bankruptcy Code, the making or delivery of any instrument or transfer, including the filing of any deed or other document of transfer to evidence, effectuate or perfect the rights, transfers and interest contemplated by the Asset Purchase Agreement, shall be in contemplation of a plan or plans to be confirmed in these chapter 11 cases, and, as such, shall be free and clear or any and all transfer tax, stamp tax, or similar taxes. Such instruments, orders, and agreements transferring the Acquired Assets to the Proposed Purchaser shall contain the following endorsement:

“Because this [instrument] has been authorized pursuant to an order of the United States Bankruptcy Court for the District of Arizona, in contemplation of a plan of the Grantor, it is exempt from transfer taxes, stamp taxes or similar taxes pursuant to 11 U.S.C. § 1146(c).”

     15. This Court retains jurisdiction to:

     a. Interpret, implement and enforce the terms of the Asset Purchase Agreement, all amendments thereto and any waivers and consents thereunder and of each of the agreements executed in connection therewith;

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     b. Compel delivery of the Acquired Assets to the Proposed Purchaser;

     c. Resolve any disputes arising under or related to the sale of the Acquired Assets to the Proposed Purchaser, including, without limitation, resolving cure amounts owing to counterparties to the Contracts; and

     d. Adjudicate all issues concerning alleged liens and any other alleged interests in and to the Acquired Assets or the proceeds of the sale, including the extent, validity, enforceability, priority and nature of all such alleged liens and any other alleged interests relating to the proceeds of the sale.

     16. Nothing in this Order, the Sale, or the Order confirming the First Amended Joint Plan of Reorganization by Textron Financial Corporation and Debtors will negatively affect the Debtors’ current timeshare interest holders’ real property ownership interests and timeshare interests, other than temporary delays from the transition from Debtors to the Proposed Purchaser, and such real property ownership interests and timeshare interests will be governed by all documents governing such interests.

     17. This Order shall be effective immediately upon entry pursuant to Rule 7062 and 9014 of the Federal Rules of Bankruptcy Procedure, and, notwithstanding Federal Rules of Bankruptcy Procedure 6004(g) and 6006(d), shall not be stayed.

     18. Pursuant to Rule 58 of the Federal Rules of Civil Procedure, as made applicable herein by Rule 9021 of the Federal Rules of Bankruptcy Procedure, this Order shall constitute an Order approving the Sale Motion.

DATED   .

Judge Redfield T. Baum 

United States Bankruptcy Judge 

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EXHIBIT H
Existing Litigation Summary

(None)

Exhibit H-1