Investor Proposal & Investment Options

The following is a proposal to enable completion of land acquisition and design for a resort community consisting of approximately 400 acres of land:

For the requested $13,000,000 from the investor, the developer proposes to execute the following:

Parcels a, c, e, and the 30 finished estate home sites which are located on the west side of Blair’s valley road and adjacent to the ski resort and golf resort properties will be, if not already, closed on and deeded to the existing, (Deerwood Mountain Estates LLP), free and clear of all encumbrances.

These appraisals do not reflect any added value and or consideration for added density and the resort concept.
Control of sewer and water rights for approximately 1500 units, along with all connecting on and off site easements will be assigned to LLP.
50% of the interest in the LLP will be transferred to the investor.

The investor can first secure his or her investment, by placing a first mortgage for the $13,000,000 investment on the parcels noted in item a above, and if applicable, item b.

A second mortgage then will be placed on the properties as directed by the developer for $10,649,000.

The second mortgage would be tied to an installment sales agreement.

It would be payable over a three year period, beginning in the year funding is obtained, to enable the commencement of infrastructure construction/installation.
Upon closing of the $13,000,000 the developer will proceed to obtain entitlements and or finalize/revise, as needed, the approvals and designs on all parcels.
Simultaneously with item f above, the developer will engage a resort land designer/consultant, to formulate, along with the land engineer, the selection of product lines, and design of the full service spa, indoor/outdoor water park, and additional amenities.

Investment Options:

If at any time prior to commitment for the end funding from a third party being obtained, the investor herein should decide to commit to provide the end funding, he would be entitled to make all final decisions with respect to proposed land / product line designs.
Until such time, the investor herein makes a bona fide commitment for end funding that he shall have a right of first refusal.

In the event funding hasn't been secured by the time all approvals and designs are completed, a reasonable expiration time would need to be established for the right of first refusal.

Although, from that agreed time until such time a bona fide offer is secured, the herein investor would continue to have the right to exercise the end funding option.
If the investor decides to totally fund the project for the balance of the projected cost of $89,900.00 or as otherwise agreed to by the partners, the developers and or assigns 50% interest in the LLP will be reduced to 20%, increasing the herein investors position to 80%.