CART. TRANSPENINSULAR KM. 7 #1/8 SHARE, CABO CORRIDOR, BS

The Auberge Residence Ownership Program brings together many individuals who want to experience the lifestyle and own a real estate interest in the Villas located within the Auberge Resort at Esperanza. Below is a general outline of the AR Ownership Program. Owners purchase a 1/8th undivided interest in a condominium Villa. All owners sign a Master Use Agreement merging their Villas into the Membership Program. Each owner can book a minimum of four vacation weeks, which are ''Planned Vacation Weeks.'' Then, by utilizing two ''Available Vacation Weeks'' and ''Short Notice Vacation Nights.'' Owners can visit more often and without limit based on space availability. Owners initially select four Planned Vacation Weeks for the upcoming season, which starts on the first Sunday in October and extends to the first Sunday in October of the following year. Utilizing an equitable rotation system, the Club manager books the requests, and owners receive confirmation of their Planned Vacation Weeks by mid June of each year. Once all the Planned Weeks are confirmed with the owners, the remaining weeks go back to the owners to choose two more weeks ("Space Available"). These fifth and sixth weeks are doled out by the same equitable rotation system as the Planned Weeks. Owners, friends, and family have full access to all the villas in their ownership and may use any villas as often as they like, subject to the club's reservation system. In addition to all previously arranged vacations, an owner may book Short Notice stays of 1 to 7 days by contacting Esperanza anytime within 60 days of their desired arrival to check availability and book a Villa. Once one Short Notice reservation is used, an owner may book another. There is no limit to how often owners visit Esperanza on short notice space availability. The owners' grown children and parents may enjoy the Short Notice stays unaccompanied by the owner. Owners can submit two of their weeks to the Auberge Resorts Rental Program. The owner receives 60% of the net revenues when their week is rented. Owners of the Residences at Esperanza may exchange any or all of their reserved vacation weeks with owners of other properties in The Timbers Collection, as well as Esperanza owners may exchange with Auberge's Calistoga Ranch in Napa Valley, Telluride, CO, and beyond with their partnership with Elite Alliance.