Listing Agent:	James E. MacDonald
Purchase Price:	$9,100,000
Land:	13.0229 Acres
Parcel #'s:	Lot 1 - Parcel No. 211-12-700(3.3404 Acres) Lot 2 - Parcel Nos. 211-12-711 to 211-12-722 (7.2981 Acres) Lot 6 - Parcel No. 211-12-705 (2.6380 Acres) Other - 0.11 Acres +/-
Location:	West of Cave Creek Road and North of Rancho Mañana Blvd. In Cave Creek, Arizona with Frontage on Cave Creek Road, Rancho Mañana Blvd. and Miramonte Drive.
Visibility:	The property enjoys nearly 2000 feet of frontage at a bend along Cave Creek Road. The viability offered by both the frontage and the elevation cause the property to stand out within the Town Core.
Improvements:	The property enjoys nearly 2,000 feet of frontage at a bend along Cave Creek Road. The visibility offered by both the frontage and the elevation of the property cause the property to stand out within the Town Core.
Grading:	Several parcels have been graded for parking and potential sales offices or other structures.
Zoning:	Residential Unit Plan of Development - Cave Creek See Zoning Interpretation from the Town of Cave Creek Zoning Administror and Director of Planning dated 4/2/2004.
Utilities:	Sewer - Town of Cave Creek - The property is served by an eight inch line which is to the site and currently serves the 4 Villa units. Contact: Town of Cave Creek - Engineering Department - Wayne Anderson 480-488-1999. The property is within the improvement district in which the Town of Cave Creek must provide service and capacity. Gas: By Southwest Gas - 602-861-1999 - Gas is to the site. Water: To the site by Global Water Company - Contact Robin Bain - 623-580-9600 X-118 Note: Prospective Purchasers should directly contact the utility servers, some of whom have existing agreements with the current owners.
Physical Characteristics:	The topography of the site allows the construction of villas offering spectacular views over a 360 degree panorama. There are a large number of saguaros and other native plants. A wash traverses lot one and adds to the natural ambiance of the setting. The site overlooks the Rancho Mañana Golf Course with unobstructed views to the mountains north and northwest of Cave Creek.
Studies/Reports:	One hundred year assured water supply. Public Report from the Arizona Department of Real Estate. Soils Report, Boring Analysis, Phase I Environmental, Archeology Survey, Sewer/Waste Plan, Survey, Topographical Survey, Grading & Drainage Reports. These materials are available upon request.
Entitlements Continued:	Available to prospective purchaser are the documents that have been generated both at Maricopa County and after incorporation of the Town of Cave Creek. A prospect should independently verify the allowed and mixed uses. Restaurant, commercial, retail, hotel, condominium, townhouse, single family detached, timeshare, all are approved uses per the Town of Cave Creek. The amount of square footage available for each is a function of agreements between the Town of Cave Creek and between previous owners and the existing owner under a resort master plan. Access to the property improvements would be from within The Rancho Mañana Master Plan. The Town does not want retail within the subject property to be accessed off of Cave Creek Road.
Golf/Tennis:	There is an agreement with the Owners of Rancho Mañana Golf Course that may be of importance to some potential owners. There is a Tee Time Agreement dated July 15, 1999. This agreement expires on March 28, 2016. There is also a Letter Agreement with an adjacent property owner for the construction of 2 tennis courts, which have not been constructed. There is an existing tennis easement and maintanence agreement with an adjacent property owner dated 10/6/2000. (Recordation Date)
Timeshare:	Existing owner has conducted several timeshare sales scenerios, which are available upon request. The Villas at Rancho Mañana with the timeshare entitlements from the Town of Cave Creek enjoy the only such designation in the planning stage. Other Developers have been unsuccessful in securing the approvals for new or expanded timeshares.
Arizona Department of Real Estate:	The Arizona Department of Real Estate has issued a Public Report For a Timeshare Offering (file #DM98-10632) with the effective date of 7/30/99, updated on July 25, 2001 that allows the sale of units. A prospective purchaser will need to independently verify the continued effectiveness of this approval and may need to amend or update the report prior to selling units built on the subject parcels.
Access:	There is a resort access and easement agreement with a recording date of 10/30/97 that covers a variety of issues that affect the real estate both on and off the property.
CC&Rs:	A Declaration of Covenants, Restrictions and Easements exist and were recorded on 3/15/99.
Rancho Mañana Condo Bylaws of Villas of Assoc.:	Such bylaws have been drafted. It is uncertain as to whether or not they are affected.