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BOUSLOG: Why don't I start on this, and I think,maybe Christian, or Sidney, or somebody else
<br /> could come up. Requesting three new SMAs, one would be for Area, what we call L1, L2, it
<br /> would be to permit the 263 timeshare units that are already entitled that are being relocated to the
<br /> "Area A". Another one is for the 25 Single-Family, and the third one would be for Areas B and
<br /> C. And the reason for the three separate, what we mean by separate governance is they have
<br /> very, very similar but slightly different conditions associated with in each. So, for instance,
<br /> "Area B" is the only one that's got public parks. "Area B"is the only one that's going to be tied
<br /> to the County's Fair Share conditions and so on. So, the conditions are appropriate to each use.
<br /> Sid, Christian, is there something else to add to that?
<br /> FUKE: No, I think that Commissioner Paishon-Duarte, yeah, it's separate from the water issue. I
<br /> think when Ann had given a presentation and mentioned that governance, it was basically what
<br /> pertains to the three SMA. It just makes it easier to enforce, especially, implement as well as
<br /> enforce by the County Planning Department.
<br /> VITOUSEK: Commissioner Paishon-Duarte, if I could ask a follow up question?Would that be
<br /> okay with you?Thanks. Regarding governance, is it intended that these separate areas are going
<br /> to be governed by separate homeowner's associations and under separate ownership?
<br /> FUKE: I will defer that to Mr. Head or Mr. Plunkett.
<br /> HEAD: Well, the whether the overarching master association has the master oversight for the
<br /> entire resort, and it's tied to the various SMAs. It's just like if you go into a smaller community,
<br /> say you go to the Shores, which is a condo, a separate condo association. They'll have their own
<br /> HOA regulations that they're governed by,but it's also subordinate to the master association and
<br /> the declaration, if that makes sense.
<br /> VITOUSEK: It does make sense, but it doesn't answer the question. So, are these, are these
<br /> going to be separate homeowner's associations? The "Area B", the"Area A?"
<br /> HEAD: Yes, they'll, they'll be, they'll definitely be separate. Yes.
<br /> VITOUSEK: And it's separate--
<br /> HEAD: You're going to have, so, J1 and J2 is, is a consolidation of existing Hilton Grand
<br /> Vacations density. They have their own association,just like they do at Kings Land right now.
<br /> Be part of Kings Land. The project district, you know that that'll proba--that area, depending on
<br /> how that goes down, what that looks like in the future, will more than likely be governed by
<br /> separate association,timeshare association.
<br /> VITOUSEK: Essentially, it's two separate developments under the same master plan.
<br /> HEAD: Essentially, yes.
<br /> VITOUSEK: Commissioner Paishon-Duarte,please proceed.
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<br /> EXHIBIT D
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