Prepared by: Broad Range Enterprises [BRE]

Austin, Texas
661-417-1614
Flip-City.com

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Table of Contents

Section 1 - Executive Summary
Section 2 - Nature of the Assignment
Section 3 - Description of the Real Estate
Section 4 - Market Area and Neighborhood Analysis
Section 5 - Supply and Demand Analyasis
Section 6 - Projection of Occupancy
Section 7 - Average Rate Analysis
Section 8 - Financial Projections of Developer's Position in the Resort Operation
Section 9 - Estimated Sales Proceeds of BRE's Position in the Resort Hotel Operation