Florida Real Estate Port Charlotte by vvb75900

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      FLORIDA PUBLIC
    OFFERING STATEMENT
          BEFORE
     SIGNING ANYTHING
This Florida Public Offering Statement is prepared and issued by N.R.L.L. EAST, LLC D/B/A
LANDAUCTION.COM.            IT IS NOT PREPARED OR ISSUED BY THE FEDERAL
GOVERNMENT.

Federal law requires that you receive this Florida Public Offering Statement prior to your signing a
contract or agreement to buy or lease a homesite in this Subdivision. However, NO FEDERAL AGENCY
HAS JUDGED THE MERITS OR VALUE, IF ANY, OF THIS PROPERTY.

Under Federal Law, if you receive this Florida Public Offering Statement and inspected the property prior
to signing the contract or agreement, you may cancel the contract or agreement by giving notice to the
seller anytime before midnight of the seventh business day following the signing of the contract or
agreement. However, if the state having jurisdiction over this transaction provides more than seven
business days in which to cancel your Contract, you are automatically entitled to this longer period.

If you did not receive this Florida Public Offering Statement before you signed a contract or agreement,
you may cancel the contract or agreement anytime within two years from the date of signing.

THIS FLORIDA PUBLIC OFFERING STATEMENT IS FOR INFORMATIONAL PURPOSES ONLY.
THE DIVISION OF FLORIDA LAND SALES, CONDOMINIUMS AND MOBILE HOMES HAS
NEITHER APPROVED NOR DISAPPROVED THE MERITS OF THIS OFFERING. THE COMPANY
IS RESPONSIBLE FOR THE ACCURACY AND COMPLETENESS OF THIS STATEMENT.
REPORT DEVIATIONS AND MISREPRESENTATIONS TO THE: DEPARTMENT OF BUSINESS
AND PROFESSIONAL REGULATION, DIVISION OF FLORIDA LAND SALES, CONDOMINIUMS
AND MOBILE HOMES, NORTHWOOD CENTER, 1940 NORTH MONROE STREET,
TALLAHASSEE, FLORIDA 32399-1034.

NAME OF SUBDIVISION:                    PORT CHARLOTTE

NAME OF DEVELOPER:                      N.R.L.L. EAST, LLC d/b/a LANDAUCTION.COM

FLORIDA DATE OF REPORT:                 NOVEMBER 28, 2007

HUD DATE OF REPORT:                     DECEMBER 3, 2007



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                                     RISKS OF BUYING LAND


The future value of land is very uncertain and dependent upon many factors. Do not expect all land to
increase in value.

Resale of your lot may be difficult or impossible, since you may face the competition of our own sales
program and local real estate brokers may not be interested in listing your lot.

Any subdivision will have an impact on the surrounding environment. Whether or not the impact is
adverse and the degree of impact will depend upon the location, size, planning, and extent of
development. Subdivisions which adversely affect the environment may cause governmental agencies to
impose restrictions on the use of the land. Changes in plant and animal life, air and water quality and
noise levels may affect your use and enjoyment of your lot and your ability to sell it.

In the purchase of real estate, many technical requirements must be met to assure that you receive proper
title. Since this purchase involves a major expenditure of money, it is recommended that you seek
professional advice before you obligate yourself.




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                                                Filed By

                                        N.R.L.L. EAST, LLC
                                    d/b/a LANDAUCTION.COM

                                              1 Mauchly
                                       Irvine, California 92618

                                                   for

                157 residential homesites, platted of record in Charlotte County, Florida
                             Located in portions of Recorded Plat Sections
                         more particularly described on Schedule “A” attached


                                             Designated as

                                         PORT CHARLOTTE


                                     Effective Date: July 28, 2006


FROM TIME TO TIME N.R.L.L. EAST, LLC D/B/A LANDAUCTION.COM (THE “COMPANY”)
OR ITS DESIGNEE MAY PURCHASE HOMESITES AT PORT CHARLOTTE. YOU SHOULD NOT
ASSUME THAT THE COMPANY WILL REPURCHASE ANY HOMESITES SOLD PURSUANT TO
THIS OFFERING, NOR DOES THE COMPANY HAVE ANY OBLIGATION TO REPURCHASE
ANY HOMESITES.

THE COST OF SEPTIC TANK INSTALLATION IS APPROXIMATELY $7,000 to $10,000.
ADDITIONAL FILL WILL BE REQUIRED ON MOST, IF NOT ALL, LOTS AND IT HAS BEEN
ESTIMATED THAT THIS WILL COST THE PURCHASER AN ADDITIONAL $155 PER LOAD OF
FILL. THE COST TO THE PURCHASER FOR A SEPTIC TANK PERMIT IS BETWEEN $305 TO
$355 DEPENDING ON THE DEPTH.

THE COST OF INDIVIDUAL WELL INSTALLATION, WHERE REQUIRED, IS CURRENTLY
APPROXIMATELY $5,145. THE DECLARATION OF RESTRICTIONS AND STATE LAW
REQUIRE THAT ALL PROPERTY SHALL BE CONNECTED TO A CENTRAL WATER SERVICE
AND TO A CENTRAL SEWER SERVICE WHEN MADE AVAILABLE.

CENTRAL WATER IS APPROXIMATELY $2,400-$2,700 FOR THE UTILITY CONNECTION
CHARGE (SUBJECT TO CHANGE).

CENTRAL SEWER (LOW PRESSURE SYSTEM) IS APPROXIMATELY $2,800-$4,000 FOR THE
UTILITY CONNECTION CHARGE (SUBJECT TO CHANGE). CENTRAL SEWER (GRAVITY
SYSTEM) IS APPROXIMATELY $2,842 FOR THE UTILITY CONNECTION CHARGE (SUBJECT
TO CHANGE).

YOU WILL RECEIVE TITLE TO AND POSSESSION OF YOUR HOMESITE WITHIN
APPROXIMATELY NINETY (90) DAYS, BUT IN NO EVENT MORE THAN ONE HUNDRED AND
EIGHTY (180) DAYS FOLLOWING THE SIGNING OF A CONTRACT.


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THE PURCHASE OF A HOMESITE IN FLORIDA WILL NOT PROVIDE OR ASSIST A FOREIGN
PURCHASER IN SECURING ENTRANCE INTO THE UNITED STATES OF AMERICA FOR
VISITATION OR CITIZENSHIP. PURCHASING A FLORIDA HOMESITE BY PERSONS WHO
ARE NOT CITIZENS OF THE UNITED STATES OF AMERICA SHOULD NOT BE MADE FOR
IMMIGRATION PURPOSES AND PURCHASING A HOMESITE IN FLORIDA DOES NOT
GUARANTEE THE PURCHASER THAT THE PRICE OR VALUE OF THE HOMESITE THAT IS
PURCHASED WILL INCREASE.


THIS OFFERING CONTAINS HOMESITES THAT ARE LAKEFRONT, AS FOLLOWS:

        PCH-S041-B0619-L0047
        PCH-S17-B0987-L002
        PCH-S82-B4419-L027
        PCH-S14-B988-L035



Revised: November 28, 2007




Port Charlotte-157 Lots               4
                                                PART I

PROPERTY:

Port Charlotte (the “Community”), with a population of 60,000, is the largest community located in
Charlotte County, Florida (the “County”). Port Charlotte and North Port are contiguous areas having 14
miles of frontage on both sides of U.S. Highway #41. The central shopping area is located on U.S.
Highway #41, 6 miles north of Punta Gorda, the county seat, with a population of 16,120, 45 miles south
of Sarasota, with a population of 52,220, and 25 miles north of Fort Myers.

The 157 lots included in this Offering Statement (collectively the “Homesites” or the “Property”,
individually, each a “Homesite”) are a minimum of 10,000 square feet with the typical size of a Lot being
80 feet by 125 feet. A list of Lots being offered is attached as Schedule “A”.

ENCUMBRANCES:

There is no mortgage encumbering any of the lots included in this offering. The Property is being offered
for sale subject to deed restrictions which have been placed on the Property to assure continuity and to
preserve the appropriate uses thereon. Restrictions were recorded in the Public Records of Charlotte
County from November 6, 1955 to June 17, 1981. The Purchaser is supplied with a copy of these
restrictions when he signs his contract. The deed restrictions subject the Property to:

        1.      Public streets and easements for drainage and utilities.
        2.      Oil, gas and mineral reservations, which do not prohibit the use of the lot as a Homesite.
        3.      Restrictive covenants and easements imposed to limit use of the Homesites for residential
                purposes, create setback lines and size requirements, regulate the use of canals and
                waterways, and establish other standards and requirements which are customary for the
                preservation and maintenance of the residential character, environmental integrity and
                aesthetic harmony of the Community being offered.
        4.      Easements and reservations set forth on the subdivision plats as recorded.
        5.      Any applicable zoning ordinances, regulations and statutes.

The Company reserves the right to and may collaterally assign the promissory notes and mortgages or
contracts for deed derived from sales of the Property as security for loans maintained by the Company.

ACCESS:

Port Charlotte may be reached via U.S. Highway #41 and Interstate Highway I-75. Access within the
Community is over hard-surfaced, all-weather streets having a right-of-way width of 50 feet and a
minimum driving surface of 20 feet, which have been dedicated to the public as reflected in the recorded
plats.

LAND USE:

Successive plats have been recorded in the Public Records of Charlotte County, Florida, from November
6, 1955 to June 17, 1981. The land in the Community has been platted into residential, duplex, multi-
family and commercial lots. The soils are sandy and support a growth of pine, oak, palm and palmetto.
The topography of the real property in the Community is generally flat, sloping approximately three feet
per mile. The elevation of the land averages from 5 to 25 feet above mean sea level. During wet weather,
the Property does require drainage, and provision for this has been made by the original developer. Fill
may be required to be furnished by the Purchaser on most, if not all, Homesites and it has been estimated
that this will cost the Purchaser an additional $155 per load of fill.

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The Community is within the City of Port Charlotte (the “City”), which has been designated as flood
prone by the Federal Insurance Administration, within the Federal Emergency Management Agency,
Washington, D.C. The City is currently participating in the Federal Flood program which provides for
the availability of federally assisted flood insurance to individual homeowners. The City is operating
under the “Regular Program” as identified by the Federal Insurance Administration and which means that
full flood insurance coverage is available to all lots in the City provided the minimum floor elevation
requirements for the Homesites are satisfied by the homeowners applying for such coverage. Full flood
insurance for a single family home is available at a maximum subsidized rate of $6.80 per $1,000 of
coverage for the first $50,000. Additional amounts of flood insurance coverage are available over this
amount. Purchaser should check with local insurance agencies to determine the actual rate, which will
vary dependent on the flood elevation of his Lot(s) established by the Federal Emergency Management
Agency’s engineering surveys. Zones A-1 through A-30, A-E, A-O, A-H and all zones V are required to
have an elevation certificate by a licensed land surveyor, architect or engineer. Purchaser may be
required to show proof of such insurance before obtaining financing for construction.

Certain lots have portions thereof which are located within flood plains. These specific lots are identified
in Schedule “A" by the designation “F” next to the lot number.

The Homesites have been zoned for residential use.

                                                 PART II

AREA FACILITIES:

Police Protection: Police protection is provided by the Charlotte County Sheriff’s Department with four
stations throughout the County. The Charlotte County Sheriff’s Department provides regular patrols on a
twenty-four (24) hour basis with a centrally located Port Charlotte Substation.

Fire Protection: Fire protection is provided by the Charlotte County Fire Rescue Department. There are
twelve (12) fire stations in Port Charlotte.

Schools - Neil Armstrong Elementary School 1.5 miles north; Meadow Park Elementary 2 miles north;
Liberty Elementary, 3 miles north; St. Charles Parochial School (elementary) ½ mile east; First Baptist
Community is 1 mile north; Port Charlotte Christian School 3 miles north; 7th Day Adventist School 2.5
miles east; Port Charlotte Middle School, 2 miles north; Port Charlotte High, 1 mile south; Port Charlotte
Adult Education School ("Port Charlotte U") located in Port Charlotte Cultural Center offering non-credit
college level courses is 4 miles north; Myakka River School is 15 miles west; L.A. Ainger, Junior High
School, 12 miles west; Charlotte Vocational-Technical Center, 1 mile south and Murdock Middle
School, 1.5 miles southwest.

Hospitals: Community residents are served by St. Joseph Hospital, which is an acute/primary care
hospital with 212 beds, Columbia Fawcett Memorial Hospital, an acute/primary care hospital with 238
beds and Charlotte Regional Medical Center, an acute/primary care hospital with 208 beds. Private
physicians and dentists maintain offices throughout the area. Twenty-four (24) hour ambulance service is
provided by the Charlotte County Fire Department.

Houses Of Worship: Thirty (30) various houses of worship are represented and located within the
community.




Port Charlotte-157 Lots                              6
Recreational Facilities: There are three (3) Community Centers, Port Charlotte beach complex with
fishing pier, boat ramps, horseshoes, picnic areas, playgrounds, basketball courts, shuffleboard, tennis and
volleyball within the community. There is also a Cultural Center and Performing Arts Center.

Recreational facilities available on a membership or daily fee basis include swimming pools, a country
club with an 18 hole championship golf course and tennis courts, two additional 18 hole golf courses, and
two (2) bowling centers, all of which are in the Community.

(Note: All distances to area facilities are measured in road miles from the City government and
commercial center of the Community, which is located at U.S. Highway #41 and Easy Street.
Homesites are located from one (1) to twenty-six (26) miles from the City government and
commercial center.)

Shopping: Seven shopping centers and 1,100 independent businesses are located within the Community.
Additionally, a regional shopping mall containing Macy’s, J.C. Penney, Dillard’s, Sears, Super Wal-Mart
and Home Depot and 110 specialty stores is located seven (7) miles south of the main entrance to the
Community.

                                                PART III

IMPROVEMENTS:

Hard surfaced streets and drainage have been completed to all of the Homesites.

Streets or Roads : Approximately 1,271 miles of roads have been completed and accepted for
maintenance by the City. Certain roads are in need of repair by the City. The streets, built to City
specifications, are hard-surfaced, all-weather streets having a right-of-way width of 50 feet and a
minimum driving surface of 20 feet. Record plats indicating the location of the streets have been filed
with the County. Roads consist of a minimum six inch base as specified by the City and one inch asphalt
surface.

Water: Central water services, where available, are provided by the County (“Charlotte County
Utilities”). Purchaser will need to determine whether the lot they purchase requires a well or has central
water service. Purchaser can submit a written request for such information to Charlotte County Utilities.
Prior to the commencement of services, Purchaser will be required to pay the actual charges permitted by
law to Charlotte County Utilities for utility services. The current utilities connection fee for water is
$2,480.69 and the current monthly billing for water usage is $3.54 per 1,000 gallons up to 10,000 gallons,
$4.41 per 1,000 gallons from 10,000 to 15,000 with an increase of 5,000 gallons at a time. Deposits range
from $80 to $380.

Presently, individual water wells with pump will be required in Sections 5, 12, 13, 14, 16, 17, 19, 20, 22,
29-32, 34, 35, 37, 38, 41, 46-50, 54, 55, 57-61, 63, 65, 67, 69, 71-73. The current cost to the Purchaser is
approximately $985.00.

Water lines have been extended to the Homesites being offered in Sections 8, 15, 21, 23, 24, 27, 28, 44,
51, 56, 71, 78, 79, 81, 84, 87 and 93.

The Declaration of Restrictions and State law requires that all Homesites shall be connected to a
central water service when made available.

Sewage: Where an onsite sewage system is required and the drinking water source is an individual well,
an Aerobic Treatment Septic Unit (“ATSU”) and drainfield must be installed to any lot of 10,000 square

Port Charlotte-157 Lots                              7
feet or less, whether near surface water or not, and to any lot(s) of less than 20,000 square feet where the
drainfield itself is within 100 feet of surface water. Some Homesites platted before 1972 have some
lenience on the surface water distances but the Company makes no representations that any of the
Homesites would be eligible for such relief. On Homesites with central water service, a septic tank is
allowed. A permit must be obtained before the ATSU or septic tank may be installed. The Charlotte
County Environmental Health Service, Florida Department of Health, is responsible for issuing those
permits. The current cost to Purchaser for the installation of an ATSU with drainfield is between $7,000
and $10,000. In addition, the required inspections every six months and annual permit fee represent a
$400 or more annual operating cost. There is also a $75 per year cost for a State inspection. Fill needed
to meet the requirements of the Florida Department of Health, Rule IOD-6, could conceivably cost the
Purchaser an additional $155 per load of fill.

The current cost to Purchaser for septic tank installation if ATSU is not required is approximately $7,000-
$10,000; however, fill to meet the requirements of the Florida Department of Health, Rule IOD-6 could
conceivably cost the Purchaser an additional $155 per load of fill. The current utility connection fee is
$2,800 to $4,000.

Note: Rates and fees listed above are as of the date of the Offering Statement and are subject to change,
and additional fees may be assessed. Purchaser should determine for itself all appropriate fees and
charges which will be incurred.

The specifications of the water and sewer facilities are approved by the Florida Department of
Environmental Regulation.

Drainage: Drainage meeting City requirements when the plats were recorded has been provided by the
original developer along drainage rights-of-way dedicated to the public. There is no additional fee for
drainage facilities.

Individual Surveys: The Homesites have been platted pursuant to the requirements of Charlotte County,
Florida, but are not individually surveyed. It is recommended that you consult with a local builder or land
clearing subcontractor to obtain estimates of site preparation costs which may range from $1,000 to
$3,000. Surveys and staking of the Homesite may be obtained by the Homesite owner at a cost presently
estimated to be $300.

Street Signs: Concrete post or metal pole type street markets were provided by the original developer to
the City after road completion.

Canals: Over 62 miles of navigable waterways have been constructed. These provide direct access to
Charlotte Harbor and have a minimum average design depth of 5 feet. Over 56 miles of limited access
waterways are completed. These have a minimum average design depth of 6 feet but do not allow access
to open waters. Canals vary greatly in width and depth. The Purchaser should determine whether his lot
is located on a navigable canal and the dimensions of said canal. Canal dimensions will directly affect the
size of craft which may be accommodated.

        Sections 58, 71, 78, 81, 82, 87 and 93:

        Homesites defined as waterfront (this includes bulkheaded as well as non-bulkheaded
        property) have navigational access to Charlotte Harbor by way of a boat lock having a
        minimum dimension of 35' x 20' and a marina. Minimum fixed clearances of bridges on
        direct access waterways at near sea level is vertical-11 feet, horizontal-18 feet. The
        minimum width of canals is 60 feet and the depth of the waterways varies from a
        minimum of 4 feet to a maximum of 6 feet.

Port Charlotte-157 Lots                              8
        The boat lock, an interceptor lagoon, (the function of which is to receive and detain
        runoff waters to improve water quality before the waters sheet flow out across the
        mangroves to Charlotte Harbor, as well as to have navigable access), and other canal
        work necessary to give waterfront property purchasers access to Charlotte Harbor have
        been completed.

Special Construction: Contouring, landscaping and additional site preparation of each Lot will be the
responsibility of the Purchaser.

Maintenance: Approximately 1,271 miles of roads and drainage have been accepted by the City, and the
costs of such maintenance will be borne by the Purchaser through taxes levied by governmental authority.

Impact Fees: Charlotte County will impose an impact fee of approximately $100 for each building permit
issued and a municipal one time fee of up to $2,510. The impact fees may be increased annually by an
amount not to exceed five percent (5%) of the amounts set for the previous calendar year.

                                                PART IV

PUBLIC UTILITIES:

Note: Public utilities in Florida are permitted to make an extension charge if service is desired in
an area where growth is insufficient for the utility to recoup its investment upon an extension of
facilities.

Electricity: Electric service to your Property will be provided by Florida Power and Light Company. A
refundable deposit is presently required in the amount of $250 and any other charges approved by
regulatory agencies. There may be a service charge for the extension of power lines where the distance to
existing service is deemed excessive. A connection fee will only be applied if lines are underground.

Telephone: Telephone service will be provided by Sprint Telephone Systems. The minimum connection
charge for telephone service is approximately $55. A deposit may be required.

Electric and telephone charges are regulated by the Florida Public Service Commission. The utilities
reserve the right to base deposit requirements on the basis of a purchaser’s past experience with utility
companies.

Gas: Gas service is not available in the City. Bottled liquid petroleum gas is available through local
suppliers.

Garbage: Garbage and trash collection service for all residences is provided twice weekly by Waste
Management. The cost for the service is included in the lot owner’s property taxes.

PUBLIC TRANSPORTATION:

Bus: Greyhound Bus Lines Station is located in Port Charlotte, on Kings Highway. There are several
scheduled southbound buses daily with destinations of Fort Lauderdale, Miami, and intermediary points.
Several scheduled northbound buses each day connect at Jacksonville for points through the country.
Trains: Passenger service on Amtrak is available in Sebring, Florida, approximately fifty (50) miles east.

Airports: The Southwest Florida International Airport, fifty (50) miles south at Fort Myers, has facilities
for jet aircraft and is currently served by all major airlines and commuter airlines which have scheduled

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daily flights. The Sarasota-Bradenton International Airport, forty-five (45) miles north in Sarasota, has
facilities for jet aircraft and is currently served by six major airlines and two commuter airlines.

Taxi: Taxi service is available in the Community.

School Bus: School bus service to public schools is provided by Sarasota County for those students
living over two (2) miles from their school.

Dial-A-Ride: A Dial-A-Ride Program is available, provided by Charlotte County’s Human Services
Department. The transit program is a point-to-point system that serves all Charlotte County residents.

PRESENT DEVELOPMENT OCCUPANCY:

In the overall Port Charlotte community there are approximately 56,000 homes completed. These homes
are concentrated within an approximate 4 to 5 mile radium of the central shopping area, with sparse
housing in other areas. The population is approximately 149,278. You should ascertain whether or not
any homes are under construction or completed in the section you are considering.

GOVERNMENTAL CONTROL:

Port Charlotte is an unincorporated community in Charlotte County, Florida. The County government is
administered by a Board of County Commissioners and the County Seat is Punta Gorda. Various
departments of the County government are responsible for the regulation of building construction, septic
tank permits, zoning and local tax assessments. The property offered is subject to taxation by Charlotte
County and the Southwest Florida Water Control District. Federal, State and Local agency licenses,
permits and approvals may be required as a condition to completion of the Company's development plans
and purchaser's use and development of his lot. Florida law provides for a Homestead Exemption on a
primary residence. Purchaser should contact the Charlotte County Tax Assessor for detail.

Homesite owners may be liable in the future for taxes, rates, fees and charges levied or approved by any
legally authorized body, including the City of Port Charlotte and Charlotte County.

Existing and future laws, rules or regulations (laws), including but not limited to laws relating to density
or use, may be more restrictive than recorded Covenants, Conditions and Restrictions.

TAXES AND GOVERNMENTAL ASSESSMENTS:

All taxes and assessments levied against the Homesite will be paid by the Purchaser, commencing with
the year of closing without proration. Real property taxes are presently estimated at $14 per $1,000 of
assessed value per year for the average Homesite.

                                                  PART V

METHOD OF SALE:

The lots in this offering will be sold at duly noticed public auctions in accord with the laws of the state in
which the auction is held.
All lots are sold using a Real Estate Purchase Agreement (“Agreement”). Lots in this offering purchased
with financing shall make use of a Promissory Note secured by a Mortgage. You may NOT assign your
agreement to a third party.

PURCHASE AGREEMENT AND DELIVERY OF DEED

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If you are the successful bidder on any lot(s), you may structure your purchase in either of two ways:

Cash

If you purchase by cash you will receive a properly executed Warranty Deed no later than one hundred
eighty (180) days following your execution of the Agreement.

Real Estate Purchase Agreement:

Purchasers will sign an Agreement to initiate the transaction and are required to pay a minimum down
payment of the total purchase price based on approved credit. Within one hundred and eighty (180) days
following your execution of the Agreement you will receive a properly executed Warranty Deed. You
must also execute a Mortgage and Note in our favor for the balance of the purchase price for a maximum
term of fifteen (15) years from the date of closing. Payments on the Note will be made on a monthly
basis and there will be no penalty for full or partial prepayment of the remaining Note balance. If
financing is provided by the Seller, it is estimated that Closing will take place at such time that Buyer has
made four (4) timely consecutive monthly payments of principal and interest under the Note, or such
earlier date in the event Seller, in its discretion, waives the aforementioned condition.

Required Fees

Buyers will be required to sign all purchase documents at the time of purchase. All buyers will be
required to pay $995 for the preparation of necessary purchase documentation, which covers document
preparation, processing, and recording fees. You will be required to pay any taxes imposed for the
recording of the Warranty Deed and any Note and Mortgage (“Recording Tax”).

General Terms of Sale

All bids are subject to a 10% buyer’s premium. The buyer’s premium is added to the winning bid and
becomes payable as part of the total sale price.

The first $500 of every purchase must be paid in CASH or CASH EQUIVALENT. Any additional
amounts due may be paid with a PERSONAL CHECK (First party, preprinted checks with satisfactory
identification required.). CASH EQUIVALENT means Cashier's Checks (made payable to yourself),
Money Orders, Traveler's Checks and Gold Coins (American Eagles, Maple Leafs and Krugerrands at the
most recent bid price listed in the Wall Street Journal.)

Parcels designated as CASH OR TERMS may be purchased with financing by making a down payment
based upon approved credit. The remaining balance can be financed on a fully amortized loan at 13.9%
interest.

Up to $5,000 may be financed up to 5 years
$5,001 to $15,000 may be financed up to 7 years
$15,001 to $35,000 may be financed up to 9 years
$35,001 to $50,000 may be financed up to 10 years
$50,001 to $75,000 may be financed up to 12 years
$75,001 and above may be financed up to 15 years

Parcels designated as “Bid plus Finance” may be purchased for the Winning Bid plus the financing terms
stated within the designated individual parcel descriptions, if any, or for all cash as follows: Winning
Bidder shall be responsible for both the down payment (Winning Bid) plus the terms of the stated

Port Charlotte-157 Lots                              11
financing. Winning Bidder shall pay the Winning Bid as the down payment amount in full on auction
day. Winning Bidder shall also make monthly payments based on the financing, terms, interest rate, and
fees described in these General Terms of Sale and/or within the designated individual parcel description.
Winning Bidder has the option to payoff the financing in full on auction day without penalty. All sales
are subject to credit approval. If Winning Bidder is approved for financing, loans will be repayable at the
contracted amount per month, including interest, until paid in full. Minimum monthly payments shall not
be less than $50, unless the parcel has financing stated in the designated individual parcel description.
Loans can be paid off at any time without a prepayment penalty. The lender shall receive a late payment
penalty charge of $10 or 10% of the monthly payment, whichever is greater, for any payment, which
becomes more than ten days late.

Type of Deed

The transfer of legal title will be accomplished by a Warranty Deed, free and clear of liens and
encumbrances other than stated herein or in the individual parcel description. Following the recording of
the Warranty Deed, the fee for which will be paid for by us from the Document Fee and the payment by
you of any Recording Tax, you will have good and marketable title to the Lot, subject to the exceptions
set forth in the Agreement and documents of record.

Recording:

The Warranty Deed and, if applicable, the Mortgage, will be recorded in the Public Records of Charlotte
County after closing.

Right of Cancellation:

If you do not receive this Offering Statement prior to signing the Agreement, you may cancel the
Agreement by giving written notice to the Company any time within two (2) years from the date of
signing. If you received this offering prior to signing the Agreement you have the option to cancel your
Agreement or agreement by giving notice to the Company until midnight of the seventh (7th) business day
following the signing of the Agreement or Agreement. However, if a governmental agency having
jurisdiction over this transaction provides more than seven (7) business days within which to cancel your
contact, you are automatically entitled to this longer period. If you are entitled to more than seven (7)
business days within which to cancel your Agreement, you will find a full explanation of that right in
your Agreement. In the event the Purchaser elects to cancel within the period provided, all funds or other
property paid by the Purchaser shall be refunded without penalty or obligation within twenty (20) days of
the receipt of the notice of cancellation by the Company.

Possession:

You will have the right to occupy and use the Homesite upon closing.

Type of Sales Program:

The Company will be utilizing its own in-house sales force to market and sell the Homesites. Local
publications, newspapers, direct mailings and billboards will also be used in an effort to attract purchasers
of Lots. The Company will use televised infomercials to selected markets and will maintain an Internet
website. Company employees will conduct a live auction of the Homesites and may make the Homesites
available for bidding on the Internet.

If you desire to resell your Homesite, you should contact an independent real estate broker. From time to
time, the Company or its designee may purchase property at Port Charlotte. However, you should not

Port Charlotte-157 Lots                              12
assume that the Company will repurchase any Homesites sold pursuant to this offering; nor does the
Company have any obligation to repurchase any Homesites.

The Company does not approve, disapprove, endorse, guarantee or control the performance, operation or
conduct of any independent real estate brokers.

The Company makes no representations with regard to the price or terms at which you may be able to
resell your Homesite. The Company can make no representations with regard to any potential fluctuation
or increase in the value of any specific Homesite.

                                                  PART VI

ADDITIONAL INFORMATION:

Homesites being offered by us for future use in building a home and not as a business investment.

Neither we, nor any of our sales representatives, employees or agents, can make any representation that
the property has appreciated in price or value in the past, or will appreciate in price or value in the future;
or that the property may be resold at a profit; or that the purchase of the property will result in future
rental income; or that the property has a particular value for the purposes of sale, resale, financing,
refinancing or otherwise, or that you will have any equity in property.

Radon Gas: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in
sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon
that exceed federal and state guidelines have been found in buildings in Florida. Additional information
regarding radon and radon testing may be obtained from your county public health unit.




Port Charlotte-157 Lots                               13
                                             SCHEDULE “A”

                                         LIST OF HOMESITES

All Lots listed below are recorded in the Public Records of Charlotte County, Florida on the Plat Book
and Page Number listed next to the lot serial number.

Legend:         In the Lot Serial Number, the letters “PCH” stand for Port Charlotte; the letter “R”, when
                it appears, stands for a Replatted Section, which is a completely different section than
                the sections that are not “replatted”; the letter “B” stands for Block; and the letter “L”
                stands for Lot.

Where applicable, following the lot serial number:

Lots subject to an Easement are denoted with the letter "E";
Lots located within a flood plain are denoted with the letter "F";
Lots identified as "Lakefront" lots are denoted with the letter "L"


The following lots were registered with the State of Florida on July 28, 2006
and with HUD on August 2, 2006:

PCH-S14-B1012-L0010                                        PCH-S44-B3300-L0005 F
PCH-S14-B1014-L0009                                        PCH-S59-B2967-L0020 F
PCH-S19-B3181-L0016                                        PCH-S60-B1982-L0013 F
PCH-S32-B2442-L0009                                        PCH-S64-B3532-L0017
PCH-S32-B2476-L0019                                        PCH-S64-B3655-L0021
PCH-S35-B1193-L0017                                        PCH-S65-B3752-L0061
PCH-S35-B1193-L0018                                        PCH-S72-B3825-L0001
PCH-S38-B2373-L0012                                        PCH-S95-B5137-L0006 F
PCH-S41-B0636-L0008
PCH-S44-B3290-L0006 F

The following lots were registered with the State of Florida on October 3, 2006
and with HUD on October 5, 2006:

PCH-S31-B2706-L0029                                        PCH-S59-B2940-L0017
PCH-S95-B5052-L0006                                        PCH-S14-B1007-L0018
PCH-S64-B3653-L0020                                        PCH-S60-B1965-L0026
PCH-S29-B0752-L0002                                        PCH-S63-B3810-L0007
PCH-S46-B3305-L0015                                        PCH-S41-B0618-L0001
PCH-S47-B2847-L0005                                        PCH-S56-B1870-L0012
PCH-S24-B2017-L0012                                        PCH-S29-B2573-L0012
PCH-S64-B3655-L0021                                        PCH-S41-B0581-L0020
PCH-S50-B3136-L0033                                        PCH-S41-B0623-L0019
PCH-S41-B0580-L0012                                        PCH-S35-B1206-L0009
PCH-S60-B1955-L0035                                        PCH-S22-B1106-L0010
PCH-S48-B2624-L0023                                        PCH-S31-B2736-L0013
PCH-S21-B0313-L0012                                        PCH-S14-B1043-L0014
PCH-S93-B4917-L0001                                        PCH-S24-B2014-L0009
PCH-S59-B2960-L0007                                        PCH-S31-B2728-L0024
PCH-S60-B1968-L0008                                        PCH-S24-B2027-L0017

Port Charlotte-157 Lots                              14
PCH-S31-B2700-L0018                                     PCH-S94-B5024-L0010
PCH-S30-B1154-L0028                                     PCH-S60-B1992-L0011
PCH-S48-B2639-L0003                                     PCH-S38-B2360-L0013
PCH-S30-B1140-L0023

The following lots were registered with the State of Florida on October 3, 2006
and with HUD on October 6, 2006:

PCH-S029-B2546-L0004                                    PCH-S008-B0264-L0002
PCH-S048-B2644-L0028                                    PCH-S095-B5137-L0006
PCH-S049-B2875-L0057                                    PCH-S016-B1081-L018
PCH-S049-B2891-L0025                                    PCH-S008-B0265-L016
PCH-S062-B3610-L0031                                    PCH-S013-B1367-L016
PCH-S065-B3740-L0005                                    PCH-S046-B1268-L009
PCH-S067-B3849-L0012                                    PCH-S046-B3393-L019
PCH-S024-B2025-L0002                                    PCH-S051-B3167-L028
PCH-S031-B2702-L0021                                    PCH-S062-B3627-L043
PCH-S029-B2564-L0015

The following lots were registered with the State of Florida on January 11, 2007
and with HUD on January 16, 2007:

PCH-S014-B0988-L0009
PCH-S034-B0873-L0016
PCH-S049-B2909-L0025
PCH-S055-B2990-L0010
PCH-S058-B4263-L0021
PCH-S069-B3407-L0011
PCH-S095-B5188-L0002
PCH-S041-B0619-L0047 L
PCH-S056-B1822-L0012
PCH-S056-B1835-L0022
PCH-S087-B4644-L0010

The following lots were registered with the State of Florida on April 24, 2007
and with HUD on April 26, 2007:

 PCH-S08-B0198-L021                                      PCH-S52-B1722-L004        F
 PCH-S17-B0987-L002 L                                    PCH-S55-B2990-L010
 PCH-S24-B2002-L007                                      PCH-S58-B4216-L011
 PCH-S24-B2023-L010                                      PCH-S58-B4263-L021        F
 PCH-S26-B0773-L005                                      PCH-S69-B3407-L011        F
 PCH-S27-B1412-L020                                      PCH-S72-B3827-L007
 PCH-S27-B1412-L021                                      PCH-S95-B5188-L002        F
 PCH-S32-B2465-L007                                      PCH-S72-B3817-L025
 PCH-S34-B0873-L016                                      PCH-S82-B4419-L027        F, L




Port Charlotte-157 Lots                            15
The following lots were registered with the State of Florida on July 12, 2007
and with HUD on July 17, 2007:

 PCH-S08-B0245-L009       F                              PCH-S56-B1785-L002     F
 PCH-S10-B0125-L005       F                              PCH-S56-B1877-L029     F
 PCH-S12-B1646-L018       F                              PCH-S59-B2927-L028     F
 PCH-S14-B1000-L008       F                              PCH-S59-B2940-L020
 PCH-S14-B1000-L014       F                              PCH-S59-B2940-L021
 PCH-S15-B1546-L012       F                              PCH-S59-B2968-L006
 PCH-S24-B2027-L005                                      PCH-S93-B4939-L007     F
 PCH-S24-B2062-L004                                      PCH-S95-B5056-L006     F
 PCH-S26-B0816-L004       F                              PCH-S95-B5056-L020     F
 PCH-S30-B1162-L009                                      PCH-S95-B5061-L010
 PCH-S31-B0568-L019       F                              PCH-S95-B5070-L001     F
 PCH-S31-B2690-L014                                      PCH-S95-B5175-L022
 PCH-S38-B2362-L027       F


The following lots were registered with the State of Florida on September 10, 2007
and with HUD on September 12, 2007:


 PCH-S13-B1278-L018                                      PCH-S38-B2389-L015
 PCH-S14-B988-L035        L                              PCH-S41-B639-L011      F
 PCH-S17-B942-L009                                       PCH-S48-B2657-L015     F
 PCH-S29-B2440-L008       F                              PCH-S48-B2657-L016     F
 PCH-S30-B1131-L018       F                              PCH-S4-B47-L23         F
 PCH-S30-B1156-L024       F                              PCH-S56-B1812-L024     F
 PCH-S31-B2713-L030       F                              PCH-S72-B3828-L12
 PCH-S38-B2351-L008                                      PCH-S78-B4411-L08      F
 PCH-S38-B2352-L009                                      PCH-S95-B5199-L005     F
 PCH-S38-B2372-L019


The following lots were registered with the State of Florida on November 28, 2007
and with HUD on December 3, 2007:

 PCH-S24-B2046-L009
 PCH-S24-B2047-L012 F
 PCH-S41-B0640-L018 F
 PCH-S56-B1939-L003 F
 PCH-S61-B3054-L023
 PCH-S61-B3059-L006
 PCH-S72-B3828-L012
 PCH-S95-B5171-L005



Port Charlotte-157 Lots                            16
                                            NOTICE TO PURCHASERS

THE PURCHASER SHOULD ASCERTAIN FOR HIMSELF THAT THE PROPERTY OFFERED MEETS HIS
PERSONAL REQUIREMENTS AND EXPECTATIONS.         MISUNDERSTANDINGS AS TO THE
DESIRABILITY OF THE PROPERTY MAY ARISE WHEN THE PURCHASER FAILS TO UNDERSTAND
THE NATURE OF THE PROPERTY OFFERED OR THE TERMS OF THE AGREEMENT.

BE SURE AND READ YOUR AGREEMENT AND CLOSING DOCUMENTS BEFORE YOU SIGN

It is unlawful for anyone to make, or cause to be made to any prospective purchaser, any representation contrary to the
foregoing or any representations which differ from the statements in this Offering Statement.

If any such representations are made, please notify the office of Division of Florida Land Sales, Condominiums and Mobile
Homes at the following address:

                                   Department of Business and Professional Regulation
                            Division of Florida Land Sales, Condominiums and Mobile Homes
                                      Northwood Centre, 1940 North Monroe Street
                                             Tallahassee, Florida 32399-1034


               DO NOT SIGN UNLESS YOU HAVE READ THE OFFERING STATEMENT

FROM TIME TO TIME THE COMPANY OR ITS DESIGNEE MAY PURCHASE HOMESITES AT PORT CHARLOTTE.
YOU SHOULD NOT ASSUME THAT THE COMPANY WILL REPURCHASE ANY HOMESITES SOLD PURSUANT
TO THIS OFFERING, NOR DOES THE COMPANY HAVE ANY OBLIGATION TO REPURCHASE ANY HOMESITES.

THE COST OF SEPTIC TANK INSTALLATION IS APPROXIMATELY $7,000 TO $10,000. ADDITIONAL FILL WILL
BE REQUIRED ON MOST, IF NOT ALL, HOMESITES AND IT HAS BEEN ESTIMATED THAT THIS WILL COST THE
PURCHASER AN ADDITIONAL $155 PER LOAD OF FILL. THE COST TO THE PURCHASER FOR A SEPTIC TANK
PERMIT IS BETWEEN $305 TO $355 DEPENDING ON DEPTH.

THE COST OF INDIVIDUAL WELL INSTALLATION, WHERE REQUIRED, IS CURRENTLY APPROXIMATELY
$5,145E DECLARATION OF RESTRICTIONS AND STATE LAW REQUIRE THAT ALL PROPERTY SHALL BE
CONNECTED TO A CENTRAL WATER SERVICE AND TO A CENTRAL SEWER SERVICE WHEN MADE
AVAILABLE.

CENTRAL WATER IS APPROXIMATELY $2,400-$2,700 FOR THE UTILITY CONNECTION CHARGE (SUBJECT TO
CHANGE).

CENTRAL SEWER (LOW PRESSURE SYSTEM) IS APPROXIMATELY $2,800-$4,000 FOR THE UTILITY
CONNECTION CHARGE (SUBJECT TO CHANGE). CENTRAL SEWER (GRAVITY SYSTEM) IS APPROXIMATELY
$2,842 FOR THE UTILITY CONNECTION CHARGE (SUBJECT TO CHANGE).

THE PURCHASE OF A HOMESITE IN FLORIDA WILL NOT PROVIDE OR ASSIST A FOREIGN PURCHASER IN
SECURING ENTRANCE INTO THE UNITED STATES OF AMERICA FOR VISITATION OR CITIZENSHIP.
PURCHASING A FLORIDA HOMESITE BY PERSONS WHO ARE NOT CITIZENS OF THE UNITED STATES OF
AMERICA SHOULD NOT BE MADE FOR IMMIGRATION PURPOSES AND PURCHASING A HOMESITE IN
FLORIDA DOES NOT GUARANTEE THE PURCHASER THAT THE PRICE OR VALUE OF THE HOMESITE THAT IS
PURCHASED WILL INCREASE.

THIS FLORIDA PUBLIC OFFERING STATEMENT IS FOR INFORMATIONAL PURPOSES ONLY. THE DIVISION OF
FLORIDA LAND SALES, CONDOMINIUMS AND MOBILE HOMES HAS NEITHER APPROVED NOR
DISAPPROVED THE MERITS OF THIS OFFERING. THE COMPANY IS RESPONSIBLE FOR THE ACCURACY AND
COMPLETENESS OF THIS STATEMENT. REPORT DEVIATIONS AND MISREPRESENTATIONS TO THE:
DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION, DIVISION OF FLORIDA LAND SALES,
CONDOMINIUMS AND MOBILE HOMES, NORTHWOOD CENTER, 1940 NORTH MONROE STREET,
TALLAHASSEE, FLORIDA 32399-1034.

Port Charlotte-157 Lots                                    17
                           RECEIPT, AGENT CERTIFICATION AND CANCELLATION PAGE

                                                     PURCHASER’S RECEIPT

                                               IMPORTANT: READ CAREFULLY

Name of Subdivision: PORT CHARLOTTE                                 Florida Date of Report: November 28, 2007

ILS No. 31751                                                       ILS Date of Report: December 3, 2007

We must give you a copy of this Florida Public Offering Statement and give you an opportunity to read it before you sign any
Agreement. By signing this Receipt, you acknowledge that you have received a copy of our Florida Public Offering Statement.

Received by: (Signature) _________________________       Date:__________________________
Received by: (Signature) __________________________      Date:__________________________
Street Address:_________________________________________________________________
City:___________________________________        State:____________________     Zip:__________

If any representations are made to you which are contrary to those in this Florida Public Offering Statement, please notify the:

Office of Interstate Land Sales Registration               Division of Florida Land Sales, Condominiums
HUD Building                                               and Mobile Homes
451 Seventh Street, S.W.                                   Northwood Centre, 1940 North Monroe Street
Washington, D.C. 20401                                     Tallahassee, Florida 32300-1034


                                               AGENT CERTIFICATION

I certify that I have made no representations to the person(s) receiving this Florida Public Offering Statement which are
contrary to the information contained in this Florida Public Offering Statement.

Lot _______________     Block _______________ Section________________________________
Name of Salesperson ____________________________________
Signature ______________________________________________     Date:_____________________________

                                            PURCHASER CANCELLATION

You are entitled to cancel your Agreement according to its terms. If you wish to do so, you may cancel by personal notice or
in writing. If you cancel in person or by telephone, it is recommended that you immediately confirm the cancellation by
certified mail. You may use the form below.
--------------------------------------------------------------------------------------------------------------------------------------------
Name of Subdivision:            PORT CHARLOTTE
Date of Agreement:              _____________________________________

This will confirm that I/we wish to cancel my/our Agreement.

Purchaser(s) Signature:_______________________________________                          Date:______________________
Print Name:________________________________________________

Purchaser(s) Signature:_______________________________________                          Date:______________________
Print Name:________________________________________________




Port Charlotte-157 Lots                                             18
                           RECEIPT, AGENT CERTIFICATION AND CANCELLATION PAGE

                                                     PURCHASER’S RECEIPT

                                               IMPORTANT: READ CAREFULLY

Name of Subdivision: PORT CHARLOTTE                                 Florida Date of Report: November 28, 2007

ILS No. 31751                                                       ILS Date of Report: December 3, 2007

We must give you a copy of this Florida Public Offering Statement and give you an opportunity to read it before you sign any
Agreement. By signing this Receipt, you acknowledge that you have received a copy of our Florida Public Offering Statement.

Received by: (Signature) _________________________       Date:__________________________
Received by: (Signature) __________________________      Date:__________________________
Street Address:_________________________________________________________________
City:___________________________________        State:____________________     Zip:__________

If any representations are made to you which are contrary to those in this Florida Public Offering Statement, please notify the:

Office of Interstate Land Sales Registration              Division of Florida Land Sales, Condominiums
HUD Building                                              and Mobile Homes
451 Seventh Street, S.W.                                  Northwood Centre, 1940 North Monroe Street
Washington, D.C. 20401                                    Tallahassee, Florida 32300-1034

                                               AGENT CERTIFICATION

I certify that I have made no representations to the person(s) receiving this Florida Public Offering Statement which are
contrary to the information contained in this Florida Public Offering Statement.

Lot ________________ Block _______________ Section____________________________
Name of Salesperson ____________________________________
Signature ______________________________________________  Date:_____________________________

                                           PURCHASER CANCELLATION

You are entitled to cancel your Agreement according to its terms If you wish to do so, you may cancel by personal notice or in
writing. If you cancel in person or by telephone, it is recommended that you immediately confirm the cancellation by certified
mail. You may use the form below.
------------------------------------------------------------------------------------------------------------------------------------------
Name of Subdivision:            PORT CHARLOTTE
Date of Agreement:              _____________________________________

This will confirm that I/we wish to cancel my/our Agreement.

Purchaser(s) Signature:_______________________________________                          Date:______________________
Print Name:________________________________________________

Purchaser(s) Signature:_______________________________________                          Date:______________________
Print Name:________________________________________________




Port Charlotte-157 Lots                                             19

								
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