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DEL TURA COUNTRY CLUBand

DEL TURA COUNTRY CLUB PHASE"PROSPECTUS

THIS PROSPECTUS CONTAINS VERY IMPORTANT INFORMATIONREGARDING YOUR LEGAL RIGHTS AND YOUR FINANCIAL OBLIGATIONS INLEASING A MANUFACTURED HOME LOT. MAKE SURE THAT YOU READ THEENTIRE DOCUMENT AND SEEK LEGAL ADVICE IF YOU HAVE ANY QUESTIONSREGARDING THE INFORMATION SET FORTH IN THIS DOCUMENT.

THE STATEMENTS CONTAINED HEREIN ARE ONLY SUMMARY IN NATURE.A PROSPECTIVE LESSEE SHOULD REFER TO ALL REFERENCES, ALL EXHIBITSHERETO, THE CONTRACT DOCUMENTS, AND SALES MATERIALS.

ORAL REPRESENTATIONS SHOULD NOT BE RELIED UPON AS CORRECTLYSTATING THE REPRESENTATIONS OFTHE PARK OWNER OR OPERATOR. REFERTO THIS PROSPECTUS (OFFERING CIRCULAR) AND ITS EXHIBITS FOR CORRECTREPRESENTATIONS.

UPON DELIVERY OF THE PROSPECTUS TO A PROSPECTIVE LESSEE, THERENTAL AGREEMENT IS VOIDABLE BY THE LESSEE FOR A PERIOD OF 15 DAYS.

SUMMARY

THIS PROSPECTUS CONTAINS VERY IMPORTANT INFORMATIONREGARDING YOUR LEGAL RIGHTS AND YOUR FINANCIAL OBLIGATIONS INLEASING A MANUFACTURED HOME LOT. MAKE SURE THAT YOU READ THEENTIRE DOCUMENT AND SEEK LEGAL ADVICE IF YOU HAVE ANY QUESTIONSREGARDING THE INFORMATION SET FORTH IN THIS DOCUMENT.

THE STATEMENTS CONTAINED HEREIN ARE ONLY SUMMARY IN NATURE.A PROSPECTIVE LESSEE SHOULD REFER TO ALL REFERENCES, ALL EXHIBITSHERETO, THE CONTRACT DOCUMENTS, AND SALES MATERIALS.

ORAL REPRESENTATIONS SHOULD NOT BE RELIED UPON AS CORRECTLYSTATING THE REPRESENTATIONS OFTHE PARK OWNER OR OPERATOR. REFERTO THIS PROSPECTUS (OFFERING CIRCULAR) AND ITS EXHIBITS FOR CORRECT- - -REPRESENTATIONS.

UPON DELIVERY OF THE PROSPECTUS TO A PROSPECTIVE LESSEE, THERENTAL AGREEMENT IS VOIDABLE BY THE LESSEE FOR A PERIOD OF 15 DAYS.

PROSPECTUS FORDEL TURA COUNTRY CLUB

Table of Contents

PageINTRODUCTION 1

DEFINITIONS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

NAME AND LOCATION OF COMMUNITY 1

PERSON AUTHORIZED TO RECEIVE NOTICES. . . . . . . . . . . . . . . . . . . . . . . . 2

DESCRIPTION OF COMMUNITY AND COMMUNITY PROPERTY 2

DESCRIPTION OF RECREATIONAL AND COMMON FACILITIES 4

MANAGEMENT, OPERATION AND MAINTENANCE OF THE COMMUNITY .. 11

IMPROVEMENTS TO BE INSTALLED-BY HOMEOWNERS .•.. -.. .•... 11---

UTILITIES AND OTHER SERViCES............................ 14

LOT RENTAL AMOUNT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

USER FEES .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32

RULES AND REGULATIONS 33

ZONING AND LAND USE OF THE COMMUNITY 34

AMENDMENTS. .......................................•......... 34

EFFECTIVE DATE.

EXHIBITS

EXHIBIT A COMMUNITY SITE PLAN 37EXHIBIT B LOT RENTAL AGREEMENT -. . . . . . . . . . . . . . . . 40EXHIBIT C RULES AND REGULATIONS 60EXHIBIT D USER FEE AGREEMENTS 94EXHIBIT E RENTAL MANAGEMENT AGREEMENT 97

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PROSPECTUSINTRODUCTION

This Prospectus has been prepared in accordance with Chapter 723, FloridaStatutes. The intent of the Prospectus is to provide all pertinent information and disclosurerequired by Chapter 723. Each prospective Homeowner of the Community is urged to readthis Prospectus and the Exhibits attached hereto carefully and completely.

DEFINITIONS

All terms within this prospectus are defined in accordance with Chapter 723, FloridaStatutes, and with the rules of the Department of Business and Professional Regulation,or are used according to their plain meaning. Additionally, the following terms as usedherein are defined as follows:

"Delivery date" -- means the date that a copy of this Prospectus was first deliveredby the Community Owner to the Homeowner as reflected in the business recordsof the Community.

"Filing date" -- means the date on which-this Prospectus was filed for review with the - .State of Florida Department of Business and Professional Regulation, FloridaDivision of Land Sales, Condominiums and Mobile Homes.

"Pro rata" -- means that percentage derived by dividing the number of manufacturedhome spaces leased by a Homeowner by the total number of occupiedmanufactured home spaces in the Community.

"Community Owner" -- means the owner or operator (manager) of the manufacturedhome Community.

"Common Area" -- means all real property owned or operated by the CommunityOwner, including landscaping and any improvements thereon, said improvementsincluding, without limitation, all roads; road curbs; swales: parking areas; structures;recreational facilities; open space; walkways; sprinkler systems other than onindividual lots; and street lights, which are owned by the Community Owner andwhich have not been dedicated to and accepted by appropriate governmentalauthorities or a special taxing district, for a public purpose, and excluding any publicutility, or CATV, installations, lines, equipment or easements thereon.

"Manufactured Home" - means a mobile home as defined in section 723.003(3),Florida Statutes.

I. NAME AND LOCATION OF COMMUNITY

The name and address of the Manufactured Home Community is:

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Del Tura Country Club18621 North Tamiami TrailNorth Fort Myers, Florida 33903

II. PERSON AUTHORIZED TO RECEIVE NOTICES

The name and address of the person authorized and designated by the CommunityOwner as the person to receive notices and demands on the Community Owner's behalfis:

For homesite lot numbers under 4,000:

Community ManagerDel Tura Country Club18621 North Tamiami TrailNorth Fort Myers, Florida 33903

For homesite lot numbers 4,000 and higher:

Community ManagerDel Tura Country Club Phase"18621 North Tamiami TrailNorth Fort Myers, Florida 33903

III. DESCRIPTION OF COMMUNITY AND COMMUNITY PROPERTY

Del Tura Country Club and Del Tura Country Club Phase " (both hereinafterreferred to as "Del Tura" or the "Community Owner") are located on U.S. Highway #41, LeeCounty, North Fort Myers, Florida. The lot sizes used herein are only approximations. TheCommunity has not been surveyed and some spaces may be larger or smaller than asdescribed herein. Any exceptions to these sizes exist are the result of the placement ofhomes, and construction variations different from engineering plans, unknown to theCommunity Owner and without complaint by residents or governing authorities.

Spaces have been allocated in such a manner as to provide Homeowners adequateoutside living space. The Community Owner has no evidence to indicate that setback andseparation requirements in existence at the time of allocation were not satisfied.

Number of Lots. There are currently 1344 lots within the Community. All lots arecontained within a single section which comprises the entire Community.

Size of Lots. The approximate size of the lots in the Community are as listedbelow. The dimensions have been rounded to the nearest foot. No provision has beenmade for the rounding of lots corners at street intersections. These dimensions are notfrom a survey and are accurate more or less. Lot boundaries for a specific lot will beestablished by Community Management.

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Lot Number Approximate Dimensions (in feet)

1 - 39994001 - 55406000 - 6096

65 feet x 100 feet60 feet x 100 feet60 feet x 100 feet

To the extent not prohibited by law and subject to any legal prerequisites therefor,Community Owner reserves the right to change the rental category of lots in theCommunity. Such a change may result in a rental amount decrease or increase, or theimposition of other charges, in addition to or in amounts inconsistent with those for lotswhich were previously in the same classification as the lot changed. Any such changewould only be in conjunction with a notice of increase in lot rental amount. The purposeof this paragraph is not to reserve to Community Owner the right to change the size of anyoccupied lot or to change the location of any such lot, but only to reserve to the CommunityOwner the right to categorize a lot in a different rental category than that previouslycategorized based upon a re-evaluation of the size, location or other characteristics of saidlot in relation to other lots previously in the same rental category.

Setback Requirements and Minimum Separation Distance Required By Law.There are several requirements of law with respect to how far each manufactured homewithin the Community must be set back from the borders of its lot and the distance thatmust be maintained from each manufactured home in the Community and its supportingfacilities (such as, for example, a carport) to other manufactured homes, supportingfacilities and structures in the Community.

Pursuant to Rules 69A-42.005 and 69A-3.012, Florida Administrative Code, theState Fire Marshall has adopted NFPA 501A (2003) for manufactured housingcommunities. This code sets forth minimum separation and setback requirements betweenManufactured Homes as follows: .

Fire Safety Separation Requirements:

6.2.1.1 . No portion of a manufactured home, excluding the tongue, shall be locatedcloser than 3 m (10ft) side to side, 2.4 m (8 ft) end to side, or 1.8 m (6 ft) endto end horizontally from any other Manufactured Home or Community buildingunless the exposed composite walls and roof of either structure are withoutopenings and constructed of materials that will provide a 1-hour fire resistancerating or the structures are separated by a 1-hour fire-rated barrier.

Accessory Building or Structure Fire Safety Requirements:

. 6.4.1.1. Accessory buildings or structures shall be permitted to be locatedimmediately adjacent to a site line when constructed entirely of materials that do notsupport combustion and provided that such buildings or structures are not less than0.9 m (3 ft) from an accessory building or structure on an adjacent site.

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6.4.1.2. An accessory building or structure constructed of combustible materials·shall be located no closer than 1.5 m (5 ft) from the site line of an adjoining site.

\n addition to the requirements 01the State f\re Marsha\! as set forth above, LeeCounty, Florida, has enacted certain zoning regulations controlling the setback andseparation of manufactured homes within the Community. A minimum setback of 20 feetfrom the street property line to the manufactured home and 15 feet from the rear boundaryof the manufactured home space to the manufactured home is required with a minimumof 10 feet between manufactured homes.

The above-referenced requirements concern only the set back and separationrequirements applicable to the Community on the delivery date of this Prospectus, and anyone or more of such requirements may subsequently be modified or repealed. Nocontinuing obligation is undertaken by the Community Owner to advise any Homeowneror resident of any subsequent modification, future adoption of additional requirements byany governmental body, or future repeal of these provisions. The above-referencedrequirements may not be applicable to the Community, due to the placement ofmanufactured homes in the Community prior to the enactment of those requirements,vested rights established under earlier ordinances, statutes, or laws, or due to subsequentjudicial decisions interpreting these or other laws. The prospective Homeowner is advisedto obtain further information regarding the installation of manufactured homes in theCommunity from the appropriate permitting authority.

Maximum Number of Manufactured Home Lots Using Shared Facilities. Themaximum number of lots that will use the shared (recreational and common area) facilitiesof the Community is 1344. The Community Owner reserves the right to use the sharedfacilities in conjunction with the Homeowners of the Community.

IV. DESCRIPTION OF RECREATIONAL AND COMMON FACILITIES

The following is a description of the Recreational and Common Facilities which shallbe used only by residents of the Community and their family members and guests, and bythe Community Owner. The Community's recreational and other common area facilitiesare available for the shared use of the Residents. These facilities will not be used incommon with any other community or any other persons. All improvements to theCommunity are complete as of the date of filing of this Prospectus.

The recreational and common facilities of the Community are as follows:

A. Buildings. The Community has three recreation buildings which contain roomswith a variety of uses, including rooms dedicated to resident activities and undesignatedmulti-purpose rooms, as more specifically set forth below. The three buildings arecontiguous and are located at the terminus of Gran Via. A description of the buildings isas follows.

1. Building A. (See Exhibit A, Community Site Plan.) Building A isapproximately 23,199 square feet and has a capacity of approximately 400 persons.

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purpose rooms or areas from time to time.

B. Other Recreation Areas and Amenities

In addition to the buildings described above, the Community has recreationareas and amenities located throughout the Community including a main clubhouse, pooland spa area as well as satellite pool and spa areas as described in more detail below:

1. Clubhouse Pool & Spa Area. The Clubhouse Pool and Spa Area islocated in at the terminus of Gran Via. (See Exhibit A, Community Site Plan.) TheClubhouse Pool and Spa Area has a Swimming Pool and a Spa as well as other amenitieslisted below.

a. Clubhouse Swimming Pool and Spa. The Clubhouse SwimmingPool is approximately 1,663 square feet in size and varies from approximately 3 feetto approximately 6 feet in depth. It is surrounded by a deck of approximately 6 feet.The Swimming Pool has a bathing load of 28 persons and is heated. TheClubhouse Spa has a volume of 1,758 gallons and has a bathing load of 10persons.

b. Other Amenities. The following amenities are also located in theClubhouse Pool and Spa Area:

i. A Pool Building containing 2 men's and 2 ladies'restrooms and pool and mechanical storage.

ii. 2 lighted Tennis Courts.

iii. 2 Bocce Ball Courts.

iv. 3 Horseshoe Pits.

v. 12 Shuffleboard Courts.

2. North Recreation Pool & Spa Area. The North Recreation Pool andSpa Area is located in the North section of the Community. (See Exhibit A, Community SitePlan.) The North Recreation Pool and Spa Area has a Swimming Pool, a Wading Pool anda Spa as well as other amenities listed below.

a. North Recreation Swimming Pool, Wading Pool and Spa. TheNorth Recreation Area Swimming Pool is approximately 1,800 square feet in sizeand varies from approximately 3 feet to approximately 6 feet in depth. It issurrounded by a deck of approximately 6 feet. The Swimming Pool has a bathingload of 32 persons and is heated. The North Recreation Wading Pool has a volumeof approximately 2,384 gallons and has a bathing load of 5 persons. The NorthRecreation Area Spa has a volume of approximately 1,465 gallons and has abathing load of 7 persons.

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b. Other Amenities. The following amenities are also located in theNorth Recreation Pool and Spa Area:

i. A Pool Building containing 2 men's and 2 ladies'restrooms and pool and mechanical storage.

ii. Screen Enclosure.

iii. 4 Tennis Courts.

3. Madera Circle Pool and Spa Area. The Madera Circle Pool and SpaArea is located on Madera Circle in the Southwest section of the Community. (See ExhibitA, Community Site Plan.) The Madera Circle Pool and Spa Area has a Swimming Pool anda Spa and a Pool Building containing a men's and ladies' restroom and pool andmechanical storage.

a. Madera Circle Pool and Spa. The Madera Circle SwimmingPool is approximately 800 square feet in size and varies from approximately 3 feetto approximately 6 feet in depth. It is surrounded by a deck of approximately 6 feet.The Swimming Pool has a bathing load of 15 persons and is unheated. The MaderaCircle Spa has a volume of approximately 1,505 gallons and has a bathing load of8 persons.

4. Sierra Madre Pool and Spa Area. The Sierra Madre Pool and SpaArea is located on Sierra Madre in the Southwest section of the Community. (See ExhibitA, Community Site Plan.) The Sierra Madre Pool and Spa Area has a Swimming Pool anda Spa and a Pool Building containing a men's and ladies' restroom and pool andmechanical storage. The Sierra Madre Swimming Pool is approximately 800 square feetin size and varies from approximately 3 feet to approximately 6 feet in depth. It issurrounded by a deck of approximately 6 feet. The Swimming Pool has a bathing load of20 persons and is unheated. The Sierra Madre Spa has a volume of approximately 1,305gallons and a bathing load of 8 persons.

5. Las Palmas Pool and Spa Area. The Las Palmas Pool and Spa Areais located on Las Palmas in the extreme Southeast corner of the Community. (See ExhibitA, Community Site Plan.) The Las Palmas Pool and Spa Area has a Swimming Pool anda Spa and a Pool Building containing a men's and ladies' restroom and pool andmechanical storage. The Las Palmas Swimming Pool is approximately 800 square feetin size and varies from approximately 3 feet to approximately 6 feet in depth. It issurrounded by a deck of approximately 6 feet. The Swimming Pool has a bathing load of20 persons and is unheated. The Las Palmas Spa has a volume of approximately 1,395gallons and has a bathing load of 8 persons.

C. Other Facilities and Permanent Improvements

The following is a list of other facilities or permanent improvements available

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for use by the Homeowners:

1. North Picnic Area. The North Picnic Area is located in the Northsection of the Community and has tables and a propane grill

2. 27-Hole Presidential Golf Course and Aquatic Driving Range. TheCommunity contains an 27-Hole Presidential Golf Course and Aquatic Driving Range. TheGolf Course and Driving Range are available for use by Residents and the general publicon a fee basis or through membership under a golf course User Fee.

The Golf Course and Driving Range are open and available toresidents from November 1 through April 30 from 7:45 a.m. to 3:00 p.m., and from May 1through October 31 from 7:45 a.m. to 5:00 p.m.

3. Storage Facility. The Community contains a storage facility in the westcenter portion of the Community next to the Community maintenance facilities (for thestorage of recreational vehicles and boats. Use of the storage area is available forpayment of a user fee.

D. Personal Property

The items of personal property available for use by the Homeowners includepool furniture, tables, chairs, kitchen equipment, pool tables, card tables, a ceramic kiln,and exercise equipment. Although initially supplied by the Community Owner at no cost toHomeowners, the Community Owner has and assumes no responsibility for repair orreplacement of these items of personal property.

E. Days and Hours of Operation

The areas in the recreation buildings which are designated for use byresidents are available for use by residents from 6:00 a.m. to midnight, seven days a week,excluding holidays.

The facilities in the Clubhouse Area Pool and Spa Area and the NorthRecreation Area Pool and Spa Area are available for use by residents from sunrise to10:00 p.m. seven days a week.

The facilities in the Madera Pool and Spa Area, the Sierra Madre Pool andSpa Area and the Las Palmas Pool and Spa Area are available for use by residents fromsunrise to sunset, seven days a week.

The North Picnic Area is available for use by residents from sunrise tosunset, seven days a week.

Any areas of the Community which are leased to outside vendors forcommercial purposes will be available for use by residents at days and hours establishedby the outside vendor.

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The Community Owner expressly reserves the right to alter the days andhours of operation in accordance with Chapter 723, Florida Statutes. In case of emergencyor repairs, the facility may be closed, and the residents will be notified promptly by postingsuch notice on the affected taclnty,

F. Completion of Improvements

All facilities described in this Section IV have been completed as of the Filing Date.The Community Owner reserves the right from time to time to alter or Change any of theabove listed facilities and amenities by the removal, relocation or alteration of existingfacilities and amenities or the construction of new facilities. No assurance is given that anyof the foregoing facilities will remain available for the residents' use for any specified periodafter the Filing Date.

The Community Owner may find it necessary from time to time to close said facilitiesfor purposes of maintenance, repair, improvement, alteration, or any other reasonablepurpose. The availability of any of the above utilities and services is limited to normalcircumstances. One or more of the utilities or services may become unavailable in theevent of natural or man-made disaster, including fire, flood, storm, earthquake, war, civildisturbance, or any other circumstances reasonably beyond the control of the CommunityOwner or of the party providing such utility or service, including strike, work stoppage,Shortage of materials, shortage of fuel or breakdown, repair or replacement of equipmentand intervention by governmental authority.

While the Community Owner has no present plans to remove, relocate, alter ordemolish any recreational and/or common facility, Community Owner reserves the right todo so upon notice as required by Chapter 723, Florida Statutes. No assurance is giventhat any of the recreational and common facilities will remain available for the use of theresidents for any specified period after the Filing Date of this prospectus. Additionally, theCommunity Owner reserves the right to add additional common facilities in the Community.

From time to time, the Community may be required by government action, or maydecide in its own discretion, to construct, build or provide for permanent or non-permanentimprovements in the Community not yet known or contemplated which permanent or non-permanent improvements shall be for the use or benefit of the Community residents orused for the operation and management of the Community.

The Community Owner reserves the right from time to time to use any or all therecreation and common area facilities, and to allow its staff, guests and licensees to usesuch facilities for such activities as the Community Owner deems proper. However, theCommunity Owner will make a good faith effort not to schedule such use in a way that itwould conflict with an activity previously scheduled by the residents.

All persons who enter or live in the Community do so at their own risk. The Ownersand Management of the Community are not responsible for any loss by accident, propertydamage, fire, theft, or any other loss whatsoever. Residents and guests avail themselvesof these facilities at their own risk. Residents are responsible for damages caused by their

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family and guests.

V. MANAGEMENT, OPERATION AND MAINTENANCE OF THE COMMUNITY

The management, operation and maintenance of the Community Property and theshared (recreational and common area) facilities shall be provided for by the CommunityOwner. The Community Manager will oversee the maintenance and operation of theCommunity; however, the Community Owner may from time to time employ such additionalmaintenance personnel as are deemed necessary and appropriate by the CommunityOwner to properly maintain the Community.

The Community office is currently temporarily located at 1411 Avenida Sierra Street.All business concerning the Community operation and maintenance is conducted from thislocation including collection of rents and rental of manufactured homes and lots. The officeshall be for the sole and exclusive use of the Community Owner and its agents andemployees.

The services provided by the Community as of the filing date include maintenanceof the common areas and recreational facilities, servicing of resident inquiries andrequests, collection of lot rental amount -payments and user fees, and enforcement ofCommunity Rules and Regulations. More specifically, the property services provided andmaintained by the Community as of the Filing Date include all of the Community's personalproperty; recreational facilities; common areas; private streets; concrete sidewalks;landscaping planted by the Community; sewer line from the point where such systemconnects to the lines owned by the provider of sewer service to the shut-off valve for thesewer line serving the lot; the lakes; and storm drains within the Community. A" questionsand problems concerning Community operation should be directed to the CommunityManager.

The Community Owner reserves the right, upon prior written notice to each ownerof a manufactured home located in the Community as required by Chapter 723, FloridaStatutes, to increase, reduce, eliminate or modify from time to time any or all of theservices that are provided by the Community. As of the date of filing of this prospectus,such notice must be given at least 90 days prior to a change in services; however, anysuch notice will be given in accordance with Chapter 723 as amended from time to time.

In general and except as expressly provided to the contrary in this prospectus, eachowner of a manufactured home in the Community is responsible for the maintenance andrepair of his or her manufactured home, manufactured home lot, and all improvementsthereon.

VI. IMPROVEMENTS TO BE INSTALLED BY HOMEOWNERS

Residents who commence occupancy in the Community by purchasing an existinghome or by installing a new home will be required to comply with all published Rules andRegulations concerning the condition, structure and site requirements for manufacturedhomes occupying lots in the Community. Requirements may be waived or modified in

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writing by the Community Owner due to space limitations, design considerations, or suchother reasons as may be sufficient in the sole discretion of the' Community Owner.

Each Homeowner is responsible for the submission to Community Management ofcomplete plans or permits for anticipated alterations showing compliance with theCommunity's specifications as disclosed herein and with the Community's Rules andRegulations as well as with Lee County Building and Zoning law, and other restrictions ofrecord. It is necessary that these plans be approved by Community Management prior tocommencement of work. The same procedures must be followed as to any alterations ormodifications to a manufactured home including attachments, landscaping, or items thatwill affect the exterior appearance of the residence. Manufactured homes must be placedin a uniform manner, properly blocked, and all utilities connected in accordance with LeeCounty Code, regulations of the Florida Department of Highway Safety and Motor Vehiclesand Community Management's specifications. Manufactured homes must be anchoredimmediately, as required by all governmental regulations.

All new manufactured homes entering the Community must have removable hitcheswhich shall be removed upon anchoring, and older manufactured homes moved into theCommunity which do not have hitches which are designed to be removed, shallnonetheless be removed and the gap area restored. -- - -_.

Improvements required to be made to any manufactured home brought into theCommunity as a replacement for a manufactured home removed from the Community areas required by Community Management as disclosed in the prospectus and Rules andRegulations. Any such improvement must be approved by Community Management inwriting prior to installation.

As a condition of tenancy in the Community, each Homeowner is responsible forproviding for the installation of the following, in accordance with the Community's thencurrent Rules and Regulations, and subject to the Community Owner's right to waive ormodify in writing the requirement for same due to space limitations, design considerations,or such other reasons as may be sufficient in the sole discretion of the Community Owner:

A. Hitches, wheels, and axles shall be removed from all homes.

B. The manufactured home must be skirted on all sides with skirting incompliance with the Community's then current rules. Skirting must be completed withinthirty (30) days of delivery of the home in the Community.

C. Electrical Service. Each Homeowner shall install and pay for an undergroundelectrical subfeed from the manufactured home to the electrical meter. This is normallyincluded in the purchase price of a Del Tura home.

D. Sidewalks. All homes shall have a 4·foot sidewalk running along the streetfrontage of each lot. The sidewalk is to be made of concrete and is to be a minimum of 3.5inches thick.

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E. Driveways. All homes shall have a 3.5 inch thick concrete drive with aminimum size of 12 x 20 feet.

F. Garages. All homes must have a garage of a minimum of 16 feet x 20 feet.Garages are subject to lot appearance standards, setback restrictions, and managementapproval.

G. Exterior Steps. All exterior steps shall be of brick and concrete construction.

H. Home Exterior. All homes shall have siding in conformance with theCommunity Rules and Regulations. Management reserves the right to authorize use ofalternative siding at their discretion.

I. Landscaping. All homes are required to have a home lot irrigation system,with an electrical control clock located in the garage, and with 100% coverage required.All homes are to be landscaped around the entire home with a minimum of three trees.The balance of the lot is to be sodded with Argentine Bahia.

J. Porches, awnings, sheds, fencing, patios, and other optional additions orimprovements may be installed by a Homeowner subject to the requirements of the rulesand regulations of the Community, and the written approval of Community Management.

K. All yard maintenance other than lawn mowing is the responsibility of theHomeowner.

L. House number displayed on the street side of the home with numbers largeenough to be visible from the street.

M. Tie downs and other requirements required for a manufactured home to beinstalled as mandated by local, state or federal government.

N. Sod must be replaced by Homeowner where planting is removed.Homeowner is responsible for trimming and maintenance and/or removal of all trees andshrubs located on the manufactured home lot. Dead trees, or trees and shrubs damagedby high winds, or any other act of God or in any other way, must be removed byHomeowner. Trees and shrubs must be kept well groomed at all times.

O. No air conditioning unit shall be located in the front window of themanufactured home or front wall of any manufactured home, or any wall facing a street.Central air conditioning must be installed in units coming into the Community.

These stated requirements may be varied or modified by the Community Owner dueto space limitations, design considerations or such other reasons as may be sufficient inthe sole discretion of the Community Owner.

All of the foregoing improvements shall be installed in accordance with therequirements of the Community Owner as set forth in the Community Rules and

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Regulations and all plans for installation of the Manufactured home and the improvementsmust be coordinated with and approved by the Community Owner prior to commencementof installation; and no other improvements to the lot or to the exterior of the manufacturedhome shall be permitted without prior written approval of the Community Owner.

In general and except as expressly provided to the contrary in this prospectus, eachowner of a manufactured home in the Community is responsible for the maintenance ofhis individual lot and manufactured home and all improvements thereto, including, but notlimited to: lawn maintenance; landscaping, including all planters, shrubs, trees, and plants(including trimming and removal); maintenance of utility connections, including but notlimited to any pipes, conduits, electrical connections, plumbing and sewage facilitieslocated on the lot; and maintenance and repair of the manufactured home.

In the event Homeowner shall be assessed by any taxing authority upon anyimprovements effected by him upon his or her lot and such assessments shall become alien upon the Community Owner's property (the Community), Homeowner shall pay suchassessments in a timely fashion or shall pay such assessments off to bond. Homeownershall not refuse to pay such assessments thereby jeopardizing the Community Owner'sproperty but may pay same under protest and petition the appropriate taxing authority forrefund.

In no event shall Homeowners whose lot rental agreements were in existence onJune 4, 1984, or who assumed a lot rental agreement in existence on June 4, 1984, berequired to install any improvements of any type for the duration of the Homeowner'stenancy. Additionally, no Homeowner shall be required, as a condition of residency in theCommunity, to provide any improvement unless that requirement is disclosed prior tooccupancy in the Community.

Homeowners purchasing an existing home in the Community are required to installimprovements to the manufactured home and the manufactured home lot in accordancewith the terms and conditions contained in their Prospectus. To the extent any such initialrecipient Homeowner has not complied with any lawfully authorized requirement, the sameremains effective, enforceable and applicable.

VII. UTILITIES AND OTHER SERVICES

All utilities and services to the Community and the Homeowners are supplied by thefollowing entities as specified below:

Telephone. Telephone service is provided and billed directly to each Homeownerby Sprint via underground lines. The CommunityOwner has no responsibilityforprovidingtelephone service to the Homeowner. Each Homeowner is responsible for the paymentof all fees and charges associated with provision of such service to his lot. TheHomeowners' Charge for this service is not included in the lot rental amount. TheCommunity Owner assumes no maintenance or repair obligations with regard to suchservices, lines or equipment. All junction boxes, terminals, buried cables, etc., must meetwith the Community Owner's prior written approval.

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Electricity. Electric power is provided and billed directly to each Homeowner byLee County Electric Cooperative via above ground lines. Each Homeowner is responsiblefor the payment of all fees and charges associated with the provision of such service to hislot. Except for service provided to the Community's common facilities and street lights(which is provided as part of the base rent), this service is not included in the lot rentalamount. The Community Owner assumes no maintenance obligations with regard to suchservice. The Homeowner is responsible for maintenance and repair of the pedestal, theelectrical lines from the pedestal to the manufactured home, and for any other connectionoutside the manufactured home, including utility shed connections and outside receptacles.

The Homeowner is further responsible to Community Management and to otherHomeowners if the Homeowner or Homeowner's electrician nicks, cuts or otherwisedamages an underground wire or connecting device belonging to another person. If a utilitycompany or the electrician of the Homeowner damages the Homeowner's undergroundwire or connecting devices, the Homeowner shall seek compensation from the utilitycompany or employee and shall have no recourse against the Community.

Water. Potable water service is supplied by Lee County Utility Company througha system of underground pipes.- Water charges are billed directly to each resident by theutility provider and are not included in the lot rental amount

The charge to the Community by Lee County Utility Company for water serviceprovided to the common areas and facilities of the Community is included in the base rent.The Community Owner reserves the right, upon no less than ninety (90) days' prior writtennotice to each resident, to charge the Resident on a pro rata basis for any such chargesbilled to the Community Owner for water service to the common facilities of the communityincluding maintenance and administrative costs.

The Community is responsible for the maintenance and repair of the undergroundwater lines from the point where such system connects to the lines owned by the providerof the water services to the shut-off valve for the water line serving the lot; provided,

..however that to the extent that any maintenance or repair of the water lines in such systemis required as a result of the negligence of a Resident, such Resident will pay the cost ofsuch maintenance and repair. Each Resident is responsible for paying the cost ofmaintenance and repair of the water pipeline from and including the shut-off valve for thelot to the manufactured home and the connection to the water system in the manufacturedhome.

Irrigation. A home lot irrigation system fed by the lakes of Del Tura Country Clubis provided as part of the lot rental amount; the homeowner shall be responsible for thepayment of an irrigation fee per six month period. Irrigation lines on the homeowner's lotmust be repaired and maintained by the homeowner at homeowner's sole expense.

Sewage. Sewage service in the Community is presently provided by Del TuraPhase I LLC d/b/a Del Tura Utilities through a system of underground pipes. The

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Resident's charge for this service is included as a separate fee as part of the lot rentalamount and is billed quarterly.

The Community Owner is responsible for the maintenance and repair of the sewersystem up to the point where the lateral pipelines serving the lot enters the lot; provided,however that to the extent that any maintenance or repair of the water lines in the sanitarysewer system is required as a result of the negligence of a Resident, such Resident willpay the cost of such maintenance and repair. Each Resident is responsible for paying thecost of maintenance and repair of the sanitary sewer lateral pipeline located on the lot andserving the manufactured home and the connection to the sanitary sewer system to themanufactured home.

Solid Waste Disposal. Solid waste disposal service (garbage and trash collection)is presently provided by the Community. Trash is presently picked up at curbside and theResident's charge for this service is included in the base rent. "Garbage" means normaldomestic waste which can be placed in a sealed garbage container. The provision ofadequate containers and delivering the containers to the appropriate location for pickupis the Homeowner's responsibility. "Trash" is limited to yard clippings and tree limbs cutand stacked as set forth in the Rules and Regulations. Disposal of any refuse other than"trash" or "garbage" will not be paid for by the Community. Such disposal will be the-responsibility of the Homeowner. For purposes of this prospectus, garbage collection isconsidered a utility.

Cable Television. Cable television services are provided to the Community byTime Warner via a system of underground cable, which is responsible for maintenance ofthe cable television lines in the Community up to and including the connection to theResident's manufactured home. The Community Owner has no responsibility formaintenance or repair of cable television lines. Cable televisions services are contractedfor by the Resident, are billed separately to the Resident by the provider of such servicesand are not included in the lot rental amount.

Storm Drainage. Storm drainage is provided by the Community via gravity flow(natural drainage), percolation and by drainage along the streets and drainage swaleswithin the Community. The Resident's charge for this service is included in the lot rentalamount as a separate charge and is not included in the base rent.

Lawn Mowing. As of the filing date, lawn mowing is provided by the Communityat no separate charge although this service is included in the lot rental amount and thusa separate charge for this service may be implemented in the future. Lawns are generallymowed as required, depending upon the rate of grass growth, to maintain the generalappearance of the Community, but not more frequently than once a week. The Communityreserves the right, at its option, to hire independent contractors to provide this service, thecosts of which shall be borne by the Community residents on a pro rata basis. TheCommunity is not responsible for tree trimming, flower boxes, planting areas or trimmingof weeds or grass around the manufactured home or planting areas.

Gas. Gas service is presently unavailable in the Community.

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Manned Gate. The Community Owner presently provides and pays for a mannedgate at the entrance to the Community as well as a roving guard for each night duringhours as determined necessary by Community Management. This service is provided aspart of the base rent.

Utility hookup. Each Homeowner is responsible for paying for the cost of hook-upfees and charges by local or county government for water and sewer, electric, telephone,cable television and other utilities, and all costs and expenses in connection with suchhookup of utilities and any required deposits. A charge will be assessed for each separatetype of hookup or connection performed by Community Owner at Homeowner's request.

Changes to Utilities and Other Services. The description of the utilities and otherservices set forth above reflects the manner in which such services are provided andcharged, and the parties responsible for the maintenance of the facilities necessary toprovide such services, as of the Filing Date. The Community Owner reserves the right,upon prior written notice as required by Chapter 723, Florida Statutes, to each owner of amanufactured home in the Community, to discontinue the provision or maintenance of anyutility or other service described above that is presently provided and/or maintained by theCommunity, so long as such discontinued service or utility is replaced by a comparable-service or utility, and/or an appropriate reduction in lot rental-amount is provided. In theevent of such discontinuation and replacement, the Homeowners within the Communitymay be billed separately for utilities or services that are billed to the Community as of theFiling Date and/or may become responsible for the maintenance of utility facilities that arethe responsibility of the Community as of the filing date. Utilities or services as referencedin this paragraph include, but are not limited to, sewage treatment and/or disposal; solidwaste disposal including garbage and trash collection and removal; storm water drainage;water; electricity, etc.

Disruption of Service. The Community Owner shall not be held responsible forany damage caused by disruption of any of the above services or utilities whether or notrequired to be provided by the Community Owner, if that disruption is caused by: (a) anyact, fault, or neglect of any resident or occupant of the Community; (b) any guest or inviteeof any resident or occupant of the Community, or of any trespasser, or by anygovernmental agency; (c) fire, water, steam, rain, hail, wind, flood, sewerage odors,electrical current, insects, or any act of God, or (d) the act of a third person not under thedirection or control of the Community Owner, unless any of the foregoing was caused byCommunity Owner's active or willful misconduct. Each Homeowner by his occupancyagrees to hold the Community Owner harmless as to any such liability.

VIII. LOT RENTAL AMOUNT

The following is a description of the base rent and other fees and charges applicableto your lot.

Computation of Lot Rental Amount. The lot rental amount for each lot will becomprised of five (5) components as set forth below:

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Base Rent. The lump sum amount paid by the Homeowner for the use andoccupancy of the lot and use of related Community's shared (recreational and commonarea) facilities, if any. Base Rent shall not include special use fees and Governmental andUtility Charges, or Pass Through Charges. Base rent may vary within the Communitybased upon lot size and/or location, or upon other factors which could logically be utilizedin differentiating values of lots within the Community.

Special Use Fees. Those separately itemized charges in addition to the BaseRent for specific services or privileges. All fees, charges or assessments shall be includedin the lot rental amount and shall be due and payable on or before the 30 day after theeffective date of notice that the fee, charge or assessment has been imposed. TheHomeowner shall be notified of any increase in the fees at least ninety (90) days prior tothe effective date of such increase.

Governmental and Utility Charges. Those amounts, other than special usefees, which represent the Homeowner's share of costs charged to the Community Ownerby any federal, state, regional or local government or utility authority, including "passthrough Charges." Pass through charges and ad valorem taxes and utility charges may beassessed more often than annually and may be assessed even during the initial term ofthe lot rental agreement.

Pass-Through Charges. Pass through charges include the Homeowner'sproportionate share of the necessary and actual direct costs and impact or hookup feesfor a governmentally mandated capital improvement, which may include the necessary andactual direct costs and impact or hookup fees incurred for capital improvements requiredfor public or private regulated utilities. The homeowner's proportionate share of

. pass-through charges shall be calculated by dividing equally among the affected developedlots in the community the total costs for the necessary and actual direct costs and impactor hookup fees incurred for governmentally mandated capital improvements servicing therecreational and common areas and all affected developed lots in the community.

Assessments. Assessments include separately itemized charges in additionto the Base Rent (and not included as a governmental or utility charge or pass throughcharge or otherwise collected as part of the lot rental amount) for specific one-time coststo the Community. The assessment will be imposed as set forth in the notice ofassessment. The notice of assessment will be delivered at least ninety (90) days prior tothe effective date of the assessment. All assessments shall be included in the lot rentalamount.

Different Rental Rates. Different rental rates for lots within the Community maybe charged in the sole discretion of the Community Owner based upon lot size and/orlocation, or upon other factors which could logically be utilized in establishing values of lotswithin the Community.

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Current Level of Lot Rental Amount.

Base Rent In consideration for the use of common area facilities and for theuse of a place to locate a home, the Homeowner shall pay to the Community Owner asemi-annual rent of $ without any deduction or offset. The annual rent ispayable in semi-annual installments on January 1 and July 1 of each year. If thecommencement of the lot rental agreement begins on a day other than January 1 or July1, a pro rata portion of the per annum lease amount shall be paid on the day ofcommencement of the Lease to cover the period beginning with that lease commencementdate and ending with the next lease installment date.

While it is the intention of management that every lease offered to Homeowners andprospective Homeowners shall commence on January 1, management reserves the rightto offer initial leases to prospective Homeowners for a term of less than 12 months so asto accommodate the developer's policy of commencing all leases on January 1 of eachyear.

Homeowner must pay by check, cashier's check, money order or bank electronicfunds transfer. Community Owner reserves the right to refuse a personal check. The baserent is subject to annual increases after notice -from the Community Owner of suchincrease as required by Chapter 723, Florida Statutes.

The term of the rental agreement shall be for the lifetime of the Homeowner(s),commencing on the closing date for the purchase of the resident's home at Del Tura. Thisrental agreement shall remain in effect until: (1) the death of the surviving Homeowner orwhere the lease was executed by only one of the residents of a manufactured home, untilthe death of the surviving spouse; (2) the sale of the Resident's home at Del Tura; or (3)

- -- -- ------ the-title to-the resrdent's hornelstransferredto-a third party.

Special Use Fees:

A. Application Fee -- $50 00 . This fee will be charged by the CommunityOwner, as allowed by law, to cover the cost of interviewing the prospective resident,processing the application for residency along with other relevant documents, investigatingthe personal background and references of the prospective resident, in qualifying aprospective Homeowner of the Community. If this fee is determined to be an entrance feeprohibited by Section 723.041, Florida Statutes, it will be refunded.

B. Returned Check Charge -- $ 25.00 . All checks not accepted andhonored by the Banking Institutions on the first deposit will be charged a returned checkfee.

C. Additional Resident Fee -- Additional resident and/or "visitor" and/or "guest"charge of $ 300. 00 per semi-annual period per guest residing in the home for morethan 15 consecutive days or a total of thirty days per calendar year.

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D. Late Payment Fee -- $__ plus a penalty of 18% per annum compoundedmonthly for each month that the rental amount remains past due. (Applicable only in theevent Homeowner is delinquent with a payment of lot rental amount. All payments of lotrental amount shall be due on the first day of each semi-annual period and shall bedeemed to be past due if not paid by the tenth day of January or July depending on thebilling cycle.

E. Sewage -- A sewage charge of $ per quarter.

F. Excess Water Use Fee -- $ per incident of excess watering.This fee will apply in instances when watering of Resident's lot or any portion thereof, orof landscaping or trees located thereon is done in such volume or at such a rate as toresult in water running off of Resident's lot onto another lot or a common area of theCommunity, or into the street.

G. Storm Drainage Charge -- A storm drainage charge of $. per semi-annual period.

H. Garbage Disposal Charge -- A garbage disposal charge of $ persemi-annual period (if such service is no longer provided as part of the base rent). . ..

I. Large Item Trash Removal Charge -- a minimum of $ A garbageand/or trash "removal" fee for items which are not collected as part of the normal garbageor waste removal services provided in the Community (i.e. refrigerators, large appliances,etc.) if the Homeowner fails and/or refuses to remove same.

J. Lot Clean-Up Charge -- $ (per man hour) In case of fire, wind.... orwater damage to-Homeowner's property, or in the event that Homeowner's lot is not kept

clean and free of trash or debris, Homeowner shall be responsible for any cost of repairs,removal of debris, and clean up of lot.

K. Landscaping Fee -:--Maintenance (other than mowing of grass) includingedging, and trimming of grass in the amount of $ for each required main-tenance performed by the Community Owner if Homeowner fails and/or refuses to do so.Additionally, the Homeowner is responsible for the actual cost and expense incurred formaterials, labor and equipment needed for any other required maintenance performed bythe Community Owner due to the Homeowner's failure or refusal to do so.

L. Skirting and/or Manufactured Home Cleanup Fee -- A skirting cleanup fee of$ if Homeowner fails or refuses to keep the skirting clean and free of debrisor to keep the exterior of the manufactured home clean. "Clean" for purposes of thischarge shall mean free of grime, mildew, dirt or debris as visible from a Communityroadway or an adjacent lot.

M. Special Service Fee -- A special service fee of $ per hour, butnot less than $ per service call, plus materials, for any repair, maintenance,or service (other than those specifically and separately mentioned herein) that is performed

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by the Community or its contractors, but which is the responsibility of the Homeowner orwhich is requested by the Homeowner. \f specia\ service work is required, atter 7 da)lsprior notification of a deficiency necessitating such work, the Community Owner willperform the work and the special service fee will be charged to the Homeowner.

N. Entrance Fee -- $ An entrance fee is applicable to anymanufactured home placed in the Community. (This fee does not apply to the purchaserof a manufactured home situated in the Community).

O. Attorney's Fees -- $ . Homeowner shall pay for all reasonableattorney's fees incurred by the Community as the result of any action taken by theCommunity against the Homeowner to collect delinquent rent, enforce the rentalagreement or the Rules and Regulations, whether suit is brought or not, and whether suchfees are incurred before or at trial or on appeal. As to any such action brought to enforcethe provisions of Chapter 723, Florida Statutes, in which action the Homeowner is theprevailing party, the Homeowner shall be entitled to a reasonable attorney's fee asprovided by Section 723.068, Florida Statutes. Likewise, if the Community Owner is theprevailing party, the Community Owner is entitled to a reasonable attorneys' fee to be paidby the Homeowner.

P. Abandoned Property storage/removal fee. $ /month not to exceedthe noticed semi-annual lot rental amount for storage of manufactured home, automobileor other personal property abandoned by Homeowner, or remaining on the manufacturedhome lot after termination of Homeowner's tenancy, plus costs incurred by CommunityOwner in removal of same.

Q. Mailbox Fee .: $. permonth for use of a community mailbox.

R. Speeding Fee -- $ per incident of driving in the Community at aspeed in excess of the posted speed limit.

S. Damage to Property Fee -- $ Homeowner will be held financiallyresponsible for damage to private or Community property, including underground services,caused by Homeowner, his family, guests, agents, sublessees or contractors. The fee willbe equal to the actual cost of repairs, materials and labor, including fees for contractors,service personnel, etc.

T. Home Removal Security Deposit-$ . To ensure that theCommunity is compensated for any damage to the lot resulting from the removal of themanufactured home or the failure of the Homeowner to properly restore the lot at the timeof removal of the manufactured home, Homeowner shall within seven days prior to removalof the home from the Community pay a Home Removal Security Deposit. The Communityreserves the right to claim against the security deposit for the cost of repair or restorationof the lot or for any cleanup of the lot after removal of the home.

U. Recycling Fee -- $ Home Owner's pro rata share of a recyclingfee imposed on the Community by government.

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V. Damaged Home Remova\Fee -- $ for the cost of removingHome Owner's damaged or destroyed home after notice to Home Owner of his obligationto do so and his failure to comply.

w. Upgrading of Home Fee. $ per hour for all necessary workperformed by the Community owner upon the homeowner's failure to bring his home intoconformance with Community Rules and Regulations.

x. Cost of Special Notices. $ for actual costs incurred by theCommunity Owner to furnish notices to the Homeowner regarding: (1) non payment of lotrental amount; (2) non compliance with a provision of the Homeowner's lot rentalagreement and/or prospectus; (3) non compliance with any Community rule or regulation.Such costs include but are not limited to attorneys fees, mailing costs, secretarial time andcosts of posting of notices.

Y. Rule Violation Fee. Rule Violation Fee. This fee shall be equal to the greaterof (1) $ per day for each day a violation is committed or continues, or (2) theamount of any funds expended or costs incurred by the Community Owner as a result ofa violation of a Community rule by Homeowner or by any person residing in his home orin the Community with his permission, plus an amount equal to twenty percent (20%) ofsuch costs and expenses. The total amount is payable on or before three days after noticeby the Community Owner to the Homeowner of the violation of the Community Rules andRegulations and of the amount due from the Homeowner.

z. Insurance fee. $ . Homeowner is required to obtain an insurancepolicy or policies of comprehensive liability (of not less than $300,000), fire, windstorm andflood insurance insuring Community Owner and Homeowner against perils arising out ofthe ownership, use, occupancy or maintenance of the manufactured home lot and all areasappurtenant thereto including the coverage forthe removal of the manufactured home aftera fire, windstorm, flood or Act of God. If Homeowner fails to procure and maintain saidinsurance, Community Owner may, but shall not be required to, procure and maintainsame and charge Homeowner for the expense of the policy or policies.

AA. Prospectus replacementfee. $, per copy for replacement of lost,damaged or destroyed prospectus.

BB. Security Card -- $ per card, afterthe first card issued.

CC. SubleaSing Fee -- $ % of sublease rent. This fee will be chargedif subleasing is authorized by the Community Owner, and is to cover the cost ofinterviewing the prospective resident, processing the application for residency along withother relevant documents, investigating the personal background and references of theprospective resident, and conducting a credit investigation. This fee will be charged by theCommunity Owner, as allowed by law, in qualifying a prospective Homeowner of the

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Community. If this fee is determined to be an entrance fee prohibited by Section 723.041,Florida Statutes, it will be refunded.

DD. Sprinkler System Installation Fee - $ . Homeowner is requiredto pay a sprinkler installation fee if a sprinkler system approved by CommunityManagement is not installed by Homeowner within 30 days of occupancy of themanufactured home.

EE. Manufactured Home Inspection Fee - $ plus $ permile travel expense from the Community to the place where said home is located.

FF. Parking of passenger vehicle on street, sidewalk, swale or lawn without priorwritten permission of Community Management - $ per day or any part thereof.

GG. Parking of motor home or camper anywhere in the Community without writtenpermission of Community Management - $ per day or any part thereof.

HH. Sales Tax. If the Lot Rental Amount is ever subject to sales, excise, touristor other tax imposed by the State of Florida or by any other governmental authority (exceptfor income taxes), then the Resident shall pay the amount of such taxes to-the CommunityOwner at the time of the payment of the Lot Rental Amount which is subject to tax.

II. Storm Readiness Fee - $ . A storm readiness fee shall be chargedif Community Management must properly secure Resident's manufactured home againsta storm as a result of Resident's failure to do so including the installation, maintenance,repair, or replacement of hurricane shutters or other hurricane related work.

- JJ.- Unapproved Pet Fee - $ per pet per day that an unapproved petremains in the home after receipt of written demand from Community Management forremoval of the pet.

KK. Tree Removal and Tree Trimming Fee. $ . The actual costs oftree removal and/or tree trimming shall be shared equally between Homeowner andCommunity Owner.

LL. Irrigation Fee. $ . The irrigation fee is based on the percentageincrease in the CPI as reported for the twelve month period ending with the month of Maypreceding the annual increase in lot rental amount. Billing for irrigation is semi-annual andin arrears.

Governmental and Utility Charges. These charges (except pass through chargesas noted below) will be charged to Homeowner( s) on a pro rata basis, or if the governmentagency or the utility provides for the billing of such charges ona per lot, metered, or otherthan pro rata basis, then such charges shall be charged to the Homeowner in that fashion.The governmental and utility charges which may currently be charged to Homeowner(s)are as follows:

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A. Water charges or increases in same for usage of water in common areas;

B. Sewer charges or increases in same for usage of sewer service in commonareas;

C. "Taxes", which term includes ad valorem taxes and special or non-ad valoremassessments and all tangible and intangible property taxes levied upon or assessedagainst the Community by any unit of government. If the. method of property taxationprevailing as of the delivery date is changed so that taxes now levied or assessed onCommunity property are replaced partially or completely by a tax levied or assessed uponthe Community Owner as a capital levy or otherwise or on or measured by lot rentalamounts received by the Community Owner from the Community, or by any assessmentother than any ad valorem tax, then such new or altered taxes shall be deemed includedwithin the definition of "taxes." Ad valorem property taxes shall be paid annually and shallbe assessed based on the Homeowner's pro rata share of the ad valorem tax assessmenton all of the property comprising the Community payable by the Community Owner;

D. Sales Tax. If the Lot Rental Amount is ever subject to sales, excise, touristor other tax imposed by the State of Florida or by any other governmental authority (exceptfor income taxes), then the Resident shall-pay the amount of such taxes to the CommunityOwner at the time of the payment of the Lot Rental Amount which is subject to tax.

E. "Pass through charges" including the necessary and actual direct costs andimpact or hook up fees for a governmentally mandated capital improvement, which mayinclude the necessary and actual direct costs and impact or hook up fees incurred forcapital improvements required for public or private regulated utilities. Pass throughcharges shall be calculated by dividing equally among the affected developed lots in the

..- - -- - community the total costs for the necessary and actual direct costs and impact or hookupfees incurred for governmentally mandated capital improvements servicing the recreationaland common areas and all affected developed lots in the community;

F. Expenses created and charged to the Community Owner by any federal,state, regional or local governmental entity or utility company, including annual filing fee(s)and the Prospectus filing fee(s) as is required by Chapter 723, Florida Statutes, and anyother non ad valorem assessments;

G. Special assessments or charges by any federal, state, regional or localgovernment or utility company;

H. Replacement utility Charges charged to the Community Owner or to theHomeowner's lot by any federal, state, regional or local governmental entity or utility

. company for service of a type or nature not available on the delivery date in replacementor substitution, in whole or in part, of any utility or other service that is provided or isavailable to Community Homeowners on the delivery date;

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I. New utility charges charged the Community Owner by any federal, state,regional or local governmental entity or utility company that become available for thebeneficial use and enjoyment of the Community residents after the delivery date;

J. Any presently unknown governmental or utility charges, as defined above,which are charged to the Community Owner in the future by any federal, state, regional orlocal government or utility company may be charged to Homeowner(s) in accordance withlaw;

K. In those instances where the utilities or any of them are owned or operatedby the Community Owner, all related out-of-pocket costs including, without limitation, thecost of maintaining or operating the utility plant, repairs, capital improvements, and meetinggovernmental requirements, including the costs of repairing, maintaining, refurbishing,renovating, removing, relocating and/or replacing capital improvements in the Community;

L. Non-ad valorem assessments;

M. Costs (including interest based on Community Owner's then cost ofborrowing) incurred by the Community Owner as a result of actions taken by federal, state,regional or local governmental entities or utility companies but not directly billed to theCommunity Owner by said federal, state, regional or local governmental entity or utilitycompany. The Community Owner may recapture these types of costs by means of eithera charge pro rated per semi-annual period or by a lump sum assessment to theHomeowners; the choice of the method of implementation of such a charge shall be in thetotal discretion of the Community Owner. These types of charges shall be Charged toHomeowner(s) after providing notice as required by Chapter 723, Florida Statutes, to theHomeowner(s) on a pro rata basis as defined above and shall be limited to the amount of

·the increased costs or charges incurred by the Community Owner and any maintenanceand administrative costs as permitted by Section 723.045, Florida Statutes, if applicable;

N. Charges to the Homeowner resulting from governmental requirementsimposed on the Community owner; and

O. Government or utility charges known as of the date of filing of this prospectusinclude electric utility rates; utility transfer fee; impact fee; sale, excise or tourist tax;property taxes; DBPR prospectus filing fee; DBPR annual filing fee; Department of Healthpermit filing fee and stormwater utility charges.

Certain of the above-mentioned government and utility charges and costs which arebilled by either the federal, state, regional or local governmental entities or utilitycompanies may be charged to the Homeowners after providing notice as required byChapter 723, Florida Statutes, at any time during the lease term. The amount of anincrease in these charges shall be limited to the increased costs or charges billed to theCommunity Owner by the federal, state, regional or local governmental agency or utilitycompany plus any maintenance and administrative costs relating to same as is permittedby Section 723.045, Florida Statutes. Ad valorem property taxes or increases in samewhich are separately prorated, billed and collected pursuant to this provision will not be

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otherwise collected as part of the base rent. For purposes of this prospectus, garbagecollection is considered a utility.

The dollar amounts set out above represent only the amount charged for each rentalcategory on the Delivery Date. As disclosed in this Prospectus, such amounts are subjectto increase. Wherever "none" or "0" appears above a blank for the amount charged for anyrental category described above, it means that charges for that rental category are notimposed by the Community Owner on the Delivery Date but may still be charged in thefuture, or that services related to that category are not currently provided but may beprovided and charged for in the future, or are currently provided as part of the base rent.The amount of those charges may be increased as described in this Prospectus. Inaddition to the Lot Rental Amount, the Resident is responsible for paying the charges forthose utility and other services which are billed directly to the Resident, including water,electricity, sewer, telephone, cable television, and for the charges for maintenance of theResident's lot and Resident's manufactured home and all utility systems on the Resident'slot which are not expressly specified herein to be the responsibility of the CommunityOwner; and the Resident shall pay any charges for services which the Community Owneris not now providing and chooses to provide in the future to the Resident on an individualcontract basis between a Resident and the Community Owner. Further, nothing in thisProspectus shall be deemed awaiverofthe Community Owner's right to collect from theHomeowner any damages that the Community Owner may sustain as a result of or inconnection with a tortious act, neglect or breach of lease by the Homeowner or by anyonepermitted to be on Community property by the Homeowner.

The Community Owner reserves the right to increase the lot rental amount by anamount established by the Community Owner and in the manner as set out in theCommunity's Prospectus after providing at least ninety (90) days advanced written notice

. -- -(orsuch notice as otherwise required by Chapter723j Florida Statutes, as amended) to allaffected Homeowners of such increase(s). The Homeowner and the Community mayagree upon a different means of determining increases in lot rental amount than thatdisclosed herein. Any such agreement shall be reflected in a lot rental agreementexecuted by the Homeowner and filed with the Division of Land Sales, Condominiums andMobile Homes as an amendment to this prospectus. This prospectus shall be deemed tobe modified to the extent that any provision contained herein is in conflict with anyprovision of such a new lot rental agreement.

Legal ExpensesIn the event that it shall become necessary for the Community Owner to employ the

services of an attorney to enforce any of its rights under this Prospectus or to collect anysums due to him under the Lot Rental Agreement or to remedy the breach of any covenantof the Rules and Regulations, regardless of whether suit be brought, the Homeowner shallpay to the Community Owner such reasonable fees as shall be charged by the CommunityOwner's attorney for such services. Should suit be brought, by reason of any disputeunder this Prospectus, the Lot Rental Agreement or the Rules and Regulations, theprevailing party shall be entitled to recover from the other party all expenses of such suitand any appeal thereof, including a reasonable attorney's fee.

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Increases in Lot Rental Amount

1. The lot rental amount includes all financial obligations, except user fees,which are required as a condition of Homeowner's tenancy. Each of the categories ofcharges currently or hereafter comprising a part of the lot rental amount, as set forthabove, are subject to periodic increases by the Community Owner. However, except forincreases resulting from the imposition of certain government and utility charges and frompass-through charges, the lot rental amount will not be increased more frequently thanannually. The Community Owner may increase the lot rental amount on a date other thanthe date of expiration of the initial rental agreement, if the subsequent agreement is for aterm exceeding twelve months, and providing that any increase in lot rental amount shalloccur no more frequently than annually.

2. The Community, at its discretion, may increase the semi-annual lot rentalamount in an amount equal to the sum of all or a combination of the factors listed inparagraph 3 below.

3. Factors Affecting Increases in Base Rent. Effective the first day of everycalendar year the base rent.shall be adjusted by the percentage increase in the CPI;however, if the percentage increase in theCPI is less than three percenttor any year, thebase rent shall be increased by three percent. Alternatively, at the sale discretion ofCommunity Owner, effective the first day of each calendar year, the base rent shall beadjusted to the market rent, but in no year by more than the percentage increase in the CPIplus two percent.

a. The term "CPI" refers to the United States Department of LaborConsumer Price Index, U.S. City Average - All Urban Consumers, Aliltems,'198201984

-':::: 1()O,or in the event of the discontinuation otpubllcatlon of that index, an alternative indexreasonably related to that index in evaluating economic conditions and which canreasonably be interpreted by Community Owner as a replacement index. The term"percentage increase in the CPI" means the increase if any in the CPI during the twelvemonth period ending in the month of May preceding the adjustment in base rent.

b. The term "market renf' is the highest rent currently charged to aresident in the Community for a lot in the same rent category as the lot rented byHomeowner, or that rent determined based on a comparison to those base rents and othercharges imposed in comparable communities. For this purpose, a Community will bedeemed comparable if it is located in the general competitive region of this Community,and offers similar facilities, densities, common areas, amenities, management, services,appearance and aesthetics. Rent categories are determined by Community Owner toinclude lots that are reasonably comparable in terms of size, view, proximity to other lotsand/or placement within a block. For purposes of comparison, base rent may but need notbe set higher or lower than those in comparable communities after reasonable adjustmentsfor differences in facilities, densities, common areas, amenities, management, services,appearance and aesthetics.

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4. Factors Affecting Increases in Special Use Fees. Factors influencing thelevel of increase in special use fees include increased costs incurred by the Communityfor services or activities making up such special fees; that amount other similarly situatedcommunities charge for the same special fee; that amount charged by the community toencourage compliance with the Rules and Regulations (Rules and Regulations); and anyexpenses, operating costs or management costs incurred by the Community to which theCommunity can reasonably charge for providing such services or activities associated withsuch special fees. An increase in one or more of these factors may result in an increasein the Homeowner's base rent, other charges, or in both. In setting lot rental amounts forany particular year, the Community Owner may rely upon anyone or more of these factors,to the exclusion of any other factors, based exclusively on the Community Owner'sbusiness judgment.

a. Any increases in the costs of operations including costs, charges, andexpenses of every kind and nature paid or incurred by the Community Owner in operating,managing, repairing, maintaining, and administering the Community including the following:

(1) The costs of all insurance carried by the Community Owner withrespect to the Community, including all fire and extended coverage and liabilitypolicies, car and theft coverage,- fidelity bonds and any-other-insurance; .

(2) The costs for repairs, maintenance, deferred maintenance andreplacements;

(3) Office expenses including but not limited to telephone, officesupplies, salaries, and other compensation, accounting and auditing fees;

(4) -The costs of janitorial, security, cleaning, and pest controlservices;

(5) The costs of redecoration, renovating, and landscaping thecommon areas in the Community, and of striping, patching, and repaving any pavedareas in the Community;

(6) All costs, fees and expenses associated with the CommunityOwner staying current and in compliance with all applicable federal, state, or locallaws, ordinances or regulations, including but not limited to attorneys' fees, legalfees, court costs, investigating costs and the like;

(7) The costs of all utilities (including, without limitation, water,sewer, electriCity, gas and waste disposal) used or consumed in the Community,unless otherwise charged directly to Homeowner as provided in this prospectus, andexcept any of such utilities that are separately metered or billed to the Homeowner;

(8) The costs of providing heating, ventilating, and air conditioningservices to any recreational building or other common area or facility in theCommunity;

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(9) Salaries and other remuneration and compensation paid toparsons or firms engaging in operating, managing, repairing, maintaining, oradministering the Community, including but not limited to automobile and truckexpenses;

(10) Management fees and expenses paid in connection with theoperation and management of the Community, including any such fees paid to theCommunity Owner or any affiliate of the Community Owner, travel expenses, duesand fees for any industry organization, subscriptions, and advertising, educationalfees, seminars, tuition, travel and lodging;

(11) If not otherwise collected as a Governmental and UtilityCharge, the cost of capital improvements and repairs made in order to conform tothe requirements of any law, ordinance or other government requirement applicableto the Community, the cost of any such capital improvement or repair shall includeinterest based on Community Owner's then cost of borrowing.

(12) All attorneys fees, court costs, investigation costs and othercosts and expenses including supplies not otherwise expressly excluded hereunder,attributable to the operation, management, repair, maintenance, or administrationof the Community;

(13) All costs, fees and charges including interest associated withborrowing money to pay any of the fees, costs, expenses and charges describedin this prospectus section entitled "Lot Rental Amount."

(14) All costs of advertising and promotion.

(15) A reasonable amount as determined in the sole discretion ofthe Community Owner shall be added to operating expenses for the value ofservices the Community Owner or other individuals are supplying to the Communitywhich are not included in operating expenses as listed above.

(16) Rents and additional rents payable under any ground lease.

(17) License fees, permit fees and other fees and charges payableto the State of Florida or to any agency or municipality thereof to the extent thatsame is not otherwise collected as a Governmental charge.

(18) Fire district assessments that may from time to time be leviedagainst the Community.

(19) The costs of training personnel.

(20) The cost of permanent and non-permanent improvements.

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(21) Improvements to the Community property which are nototherwise specified herein, but which are made to the Community property by theCommunity Owner for the benefit of the residents, may cause an increase in the lot rentalamount.

5. Factors Affecting Governmental and Utility Charges. That portion of thelot rental amount which is composed of Governmental and Utility Charges, if any, shall beaffected by changes in the rates charged for the provision of such services and taxes byany federal, state, regional or local government or utility authority. An increase in suchrates may result in an increase in Governmental and Utility Charges. The costs chargedto the Community Owner by a federal, state, regional or local government or utility authorityfor such services and taxes, if any, shall be allocated on a pro rata basis among theoccupied lots or by such other means as are established by the acts of government. Theamount of increase in Governmental and Utility Charges shall be limited to the new orincreased cost charged to the Community Owner plus any maintenance and administrativecosts relating to same as is permitted by Section 723.045, Florida Statutes.

6. Factors Affecting Pass Through Charges. The Homeowner will beresponsible for payment of those pass through charges assessed to the Community Ownerby federal, state, regional or local government or utility companies. The-charges may beassessed more often than annually and will be assessed based on each Homeowner'sproportionate share.

7. Additional Considerations.

Any person who wishes to become a resident of the Community must sign a lotrental agreement applicable to his tenancy and be approved by Management prior topurchasing a home or initiating residence in the Community. -

Nothing contained herein prevents Management from discussing with any residentor resident's association an alternative manner of adjusting rents, or from offering orentering into rental agreements, mutually agreeable to Management and a resident, onterms differing from those described herein.

Failure of the Community Owner to implement the full amount of an increase in lotrental amount as allowed by,law and this prospectus during any year shall not preclude theCommunity Owner from increasing the lot rental amount at a later time in the mannerprescribed by and consistent with Sections 723.037(1) and 723.031 (5), to recoup thedifference.

If the Homeowner pays all or a portion of the lot rental amount but the CommunityOwner has actual knowledge that the Homeowner is in default of or has breached anyobligations under the Homeowner's prospectus or lot rental agreement or the Rules andRegulations, the Community Owner's receipt of payment shall not be deemed a waiver ofsuch breach or default.

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The Community Owner may elect to not increase the base rent, a specific fee, orany other portion or all of the lot rental amount. Any such election shall not preclude theCommunity Owner from adjusting the lot rental amount or any portion thereof at asubsequent date for any amount or cost so deferred, to the extent permitted by Chapter723, Florida Statutes, and the failure of the Community Owner to charge or to increase anexisting charge for one of the special use fees set forth herein shall not constitute a waiverof the Community Owner's right to implement or increase such a charge.

Insurance. Homeowner shall at his expense, obtain and keep in force during theterm of his Lot Rental Agreement a policy or policies of comprehensive liability, fire,windstorm and flood insurance insuring Community Owner and Homeowner against perilsarising out of the ownership, use, occupancy or maintenance of the manufactured homelot and all areas appurtenant thereto. This shall also include coverage for the removal ofthe manufactured home after a fire, windstorm, flood or Act of God. The limit of saidinsurance shall not limit the liability of Homeowner hereunder. Homeowner may carry saidinsurance under a blanket policy, providing however, said insurance by Homeowner shallhave a Community Owner's protective liability endorsement attached thereto. IfHomeowner fails to procure and maintain said insurance, Community Owner may, but shallnot be required to procure and maintain same. Any such insurance obtained by theCommunity Owner shall be at the expense of the Homeowner.· Insurance requiredhereunder shall be in companies rated A+, AAA or better in the "Best Insurance Guide."Prior to occupancy of lot, Homeowner shall deliver to Community Owner copies of policiesrequired herein or certificates evidencing the existence and amounts of such insurancewith loss payable clauses satisfactory to Community Owner. No policy shall be canceledor subject to reduction of coverage except after ten days prior written notice to CommunityOwner. At the request of Community Owner at anytime during the tenancy, Homeownershall provide a copy of the aforementioned policies.

Indemnification and Liability of Community Owner. Community Owner shall notbe liable for any loss, injury, death, or damage to persons or property which may besuffered by Homeowner or by any person whosoever may be using, occupying or visitingthe lot, whether such loss, injury, death, or damage shall be caused by or in any way resultfrom or arise out of any act, omission, or negligence of the Homeowner or of any occupant,sublessee, contractor, subcontractor, visitor, or user of any portion of the lot, or shall resultfrom or be caused by any other matter whether of the same kind as or of a different kindthan the matters above set forth. The Homeowner shall indemnify the Community Owneragainst all claims, liability, loss, or damage whatsoever as described herein including butnot limited to costs, counsel and investigation fees, expenses and liabilities. Homeownershall be given notice in writing that the same are about to be incurred, and shall have theoption itself to make necessary investigation and employ counsel of Homeowner's ownselection, but satisfactory to the Community Owner, for the necessary defense of anyclaim. Homeowner shall look solely to the ownership of the Community Owner'sproprietary interest in the manufactured home Community property for the collection of anyjudgment or other judicial process requiring the payment of money by Community Owner,or judgment or other judicial process requiring performance of an act in the event of anydefault or breach by Community Owner with respect to any of the terms, covenants andconditions of this agreement to be observed or performed by Community Owner

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(hereinafter aggregately referred to as "judgments" against Community Owner) and noother property or assets of Community Owner shall be subject to levy, execution or otherenforcement procedure for the satisfaction of Homeowner's remedies or of any judgmentsagainst Community Owner in the event of a violation by Community Owner of any of theprovisions of this prospectus, the Community's Rules and Regulations or lot rentalagreement. This provision shall not limit the Community Owner's obligations as set forthin section 723.022, Florida Statutes.

IX. USER FEES

The Homeowner may at some time in the future be offered services by theCommunity Owner for which user fees will be charged. A "user fee" is a charge "in additionto the lot rental amount for nonessential optional services provided by or through theCommunity Owner to the Homeowner under a separate written agreement between theHomeowner and the person furnishing the optional service or services". A user fee willonly be charged to those Homeowners who desire to use the services provided. A userfee is not related to the lot rental amount. A user fee is currently charged by theCommunity Owner for:

(1) Rental Management Fee: Del Turaprovides a rental management serviceto owners. Owners may list their homes with the Del Tura Rental ManagementDepartment and Del Tura will attempt to find individuals interested in renting the owner'shome in accordance with the particular wishes of the owner. Del Tura charges a fee forthis service in the amount of 16.5% of the gross income it collects from these rentalHomeowners. The rental management agreement is attached as Exhibit "E."

(2) Golf course user fees.

Calendar Year For Which Rates Are Effective:

Annual DuesSingle MembershipsAssociate (family) MembershipsSeasonal Memberships

$------------------$-------------------$------------------$------------------Annual Fee for Private Carts

Rental fee for club owned carts - playerentitled to share cart with another

18 holes (season rates)9 holes (season rates)

$------------------$------------------

Guest fees for renters(Per round, season rates) $-----------------

$-------------------Golf club rental (per round)

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Golf club storage (per year) (when available) $. _"

Greens fees for outside players and house guests18 holes (season rates) $':--- _9 holes (season rates) $' _

Aqua rangeSmall bucket $ _Large bucket $ _Annual membership - single $ _Annual membership - family $ _

One time initiation fee for all members when clubbecomes private $ _

Boat/Camper Rental Fee -(per space) (per year)(Space Available on First Come Basis) $ _

The storage user fee agreement is attached as part of Exhibit D.

User fees may be increased to reflect increased costs in providing or maintainingthe ability to provide the relevant service, or prevailing market or economic conditions inthe manner discussed above regarding lot rental amount, or an increased utilization levelby Homeowners. An increase in one or more of these factors may result in an increasein the Community's user fees.

At least thirty days notice of any increase in user fees shall be given to all affectedhomeowners. Notice of increase will be given by posting a notice atthe facility, by personaldelivery, or by U.S. Mail delivery. Notice by U.S. Mail will be considered made upon themailing of notice to the Homeowner's last known address.

X. RULESAND REGULATIONS

Rules and Regulations currently in effect governing the Residents' behavior, guestprocedures, etc. are contained in "Exhibit C" attached hereto and incorporated herein byreference.

Changes in Rules and Regulations. The Rules and Regulations may be changed,or new Rules and Regulations may be adopted, at the discretion of the Community Owner.The Community Owner will make such changes in the Rules and Regulations as theCommunity Owner deems to be in the best interest of the safety, security, and aestheticquality of the Community and the residents. Notwithstanding the foregoing, the CommunityOwner shall give all Homeowners prior written notice, as required by Chapter 723, FloridaStatutes, of any change in the Rules and Regulations or adoption of new Rules andRegulations. Rules and Regulations adopted as the result of restrictions imposed bygovernmental entities and required to protect the public health, safety or welfare, will

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become effective at the time specified in the rule regardless of notice requirements whichmay be applicable to the adoption of other types of rules.

New Rules and Regulations may be adopted subject to the following procedure: Ifthe Community Owner desires to change a rule or adopt a new rule, it will give writtennotice to each Homeowner in the manner required by law at least ninety (90) days beforethe effective date of the Change; provided however, that if the change or new rule is theresult of restrictions imposed by governmental entities and is required to protect the publichealth, safety or welfare, it will become effective at the time specified in the rule,notwithstanding said ninety (90) day period.

XI. ZONING AND LAND USE OF THE COMMUNITY

Current Zoning Classification. Four hundred twenty-five and one-tenth (425.1)acres of the community are presently zoned MH-2; the remaining 27.63 acres are zonedRV. Such zoning classification permits the land comprising the Community to be used formanufactured home placement.

Zoning Authority. The governmental authority having jurisdiction over theCommunity -Property with regard to zoning is Lee County, Florida. -

Community Owner's Future Plans Regarding Development of the Community.The Community Owner has no definite future plans for changes in the use of the landcomprising the Community. The CommunityOwner reserves the rightto do so, however,subject to the provisions of Chapter 723, Florida Statutes.

XII. AMENDMENTS

The Community Owner reserves the right to amend this Prospectus or any Exhibitthereto from time to time to the extent permitted by law to conform with changes in relevantstatutory provisions or changes in relevant rules of the Department of Business andProfessional RegUlation, or any other agency having jurisdiction over the operation of thismanufactured home Community.

XIII. EFFECTIVE DATE

All information provided in this prospectus is as of the date of approval hereof by theFlorida Department of Business and Professional Regulation as set forth below. TheCommunity Owner assumes no responsibility to keep such information current, except asmay be required by law.

This prospectus was determined adequate to meet the requirements of Chapter723, Florida Statutes, by the Florida Department of Business & Professional Regulation,Division of Land Sales, Condominiums and Mobile Homes on this 15th day of September,2006.

Prospectus #PRMZ001859-P1 O.

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The lot to which this prospectus applies is lot # _

As subsequently amended and approved by the Florida Department of Business &Professional Regulation, Division of Florida Land Sales, Condominiums and Mobile Homeson _

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