Owners will receive one golf membership as part of their Villa purchase a value of $100,000. Membership includes access privileges for spouses and children under 25. Fractional owners will have membership privileges while in residence. Monthly membership fees are no included and are $800 per month (whole ownership) or $115 per month (fractional ownership) payable starting at the close of escrow.

100 Centennial memberships will be sold at $100,000 each, independent of the 39 Villa owner/members. All golf member will enjoy first priority access to tee time reservations an will have exclusive access to Members Only areas including locker room facilities.

Currently we are offering 39 Villas, 31 of these will be offered as whole-ownership, with the remaining 8 Villas divided into 56 fractional offerings.

In order to fully accommodate you, I recommend that you call Ken Crosby, 858-756-5600 or his partner Kathy Hewitt, 858-756-7899 for a private tour.

Each Villa may be furnished and decorated at the pleasure of the owner, but if the owner prefers, will have two professionally designed interiors to choose from. Interiors will include state-of-the-art technology: cordless phones with voice-mail, caller identification and speakerphones, computer and fax hookups, wireless and wired broadband high-speed Internet access, plasma TVs, DVD players and a surround sound system.

If the owner prefers to furnish their Villa, there are two options for Villa customization. An owner may choose to completely appoint their Villa, in which case it is built only with pre-wiring and all modifications are at the discretion of the Villa owner. Or an owner may choose to have their Villa fully equipped, ready for them to decorate as they choose.

Fully equipped Villas kitchens and baths will also have the finest furnishings and appliances such as Sub-Zero and Thermador, a wine refrigerator, a wine refrigerator and a full wet bar. Five-fixture marble bathrooms with oversized tubs and separate dual shower heads with shaving mirrors will be included.

HOA dues are approximately $14,000 per year, with the fee varying based upon whole or fractional ownership. As the Villas near completion, the California Department of Real Estate may reassess HOA dues. HOA dues do not include golf membership.

For whole ownership, a deposit of $30,000 is required upon reservation. An additional $75,000 is necessary at contract and at that time the entire amount is non-refundable. For 1/7 ownership, a $15,000 deposit is required at reservation, with an additional non-refundable amount of $35,000 at contract.

Delivery date of Phase 1 of the Villas is currently scheduled for December of 2006

First releases are anticipated for January 2006.

There will be a builder warranty. Details on this are not available at this time, but we will share them with clients as the program is unfired.

The owner is Manchester Financial Group and the operator is Manchester Grand Resorts.