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					                       FAIRFIELD GLADE DISCLOSURE RECEIPT AND
                                  ACKNOWLEDGMENT

       There are approximately 17,000 Lots in the Glades with each lot being
approximately one (1) acre in size. The Lots in this offering have been zoned for
residential use and lots can be used for both single and multi-family residences. The
elevation of land ranges from approximately 2,000 feet above sea level. None of the
Lots or portions thereof are covered by water at any time during the year or are subject
to floods and no special drainage or fill prior to being used for the purpose for which
they are being sold.

       None of the lots are affected by blanket encumbrances , liens, or affected by any
easements, which will have an effect on building plans. Easements for installation and
maintenance of utilities and drainage facilities are reserved upon any recorded
Subdivision Plat of the Properties. The Lots are not subject to any flood control or
flowage easements. There are deed restrictions, which have been recorded in the
Bureau of Conveyances of the State of Tennessee and are covenants that run with the
land. Lot purchasers will be required to pay real property taxes assessed by the County
of Cumberland, at an assessment ratio of 25% of the appraised value per lot multiplied
by the tax rate of $1.24 per hundred of assessed value.

        The existing improvements on certain lots have been constructed in accordance
with regulations of the County of Cumberland and State of Tennessee and consist of
roadways, as well as extension of electrical and telephone lines along the front of the
subdivision. Electricity to the subdivision will be provided upon request by Volunteer
Energy Cooperative, 18359 Highway 58 N, Decatur, Tennessee 37322 (423) 334-1020.
The initial installation of Electric service (deposit) is $250.00, unless you request a credit
check waiver, and you will be responsible for a $30.00 meter activation fee. There is a
standard monthly fee of $11.60, and the current billing rate is $0.7347 per kilowatt-hour
(subject to change). If Electric service needs to be extended, lots within 750 ft. of power
line will not be charged for extension of service, any lot over 750 ft. from power line will
be charged $2.50 per ft. for service extension.

        Telephone service is provided by Frontier Communications , 174 Sparta Highway,
Crossville, Tennessee 38555 (800) 921-8101. The cost of installation, including phone
line, for a vacant lot is $64.40, other services may be required for installation with
minimal fees and labor costs. The purchasers will be responsible for the cost of
extending telephone lines to the lot if needed at a labor rate of $35.00 for the first thirty
minutes, with an additional fee of $17.50 per hour thereafter.

        Natural gas service is provided to the Glades by Upper Cumberland Gas Utility
District, 8345 Chestnut Hill Road, Crossville, Tennessee 38555 (931) 484-9380. The
cost to lot owners to hook up to the main line is $400.00, and if service needs to be
extended to the lot, prices range up to approximately $725.00 for extension of service. If
your request for service requires the installation of a new service line, then you must
also request an Excess Flow Valve at a cost of $100.00.


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       Water is supplied to certain lots in this offering, by means of a central water
system, operated by the Crab Orchard Water District, P.O. Box 78, Crab Orchard,
Tennessee 8723 (931) 484-6987. The approximate cost to hook up to the central water
system is $750. Lots within 200 feet of the central system will not be charged for an
extension of services, anything over 200 feet the lot owner will be charged $10 per foot
for service extension. The monthly minimum service fee for the central water system is
$12.43 including tax.

       Most lots within the Glades run off the central sewer system that is maintained by
the Fairfield Glade Community Club. An individual wastewater system consisting of
septic tanks will be used for those lots where the central system is unavailable. The
Club is currently extending the lines of service to the remaining lots in the Glades and
should have a completed system by 2008. The sewer service fee is $24.50 per month
and the sanitation fee is $6.00 per month. The cost to install a septic tank system
ranges from $3,500.00 to $5,000.00.

       The Glades have five (5) Championship Golf Courses located throughout the
subdivision, along with a new Community Center currently being constructed and is
scheduled to be completed in 2008.

       School bus transportation is available from the Glades to the local schools, which
are located approximately 9 miles away in Crossville. A shopping mall with a
restaurant, pharmacy, post office, hardware store, beauty salon and more is located
within the Glades area. A Staff/Volunteer Fire Department & Public Safety Department
provides police and fire protection within the Glades. The nearest hospitals are located
in Crossville, approximately 9 miles from the subdivision. The Fairfield Glade Fire
Department Paramedic Team provides ambulance service 24 hours a day to the
Glades. Physicians and Dentists’ offices are located in Crossville, approximately 9 miles
from the Glades.

      The Fairfield Glade Community Club is open to all lot owners in Fairfield Glade.
Membership to the Club is mandatory. All property owners are required to pay the
general assessments as follows:

      1.        A-tier property (homes, condos, town homes, or developed lots with
                road and sewer access) - $34.00 per month or $408.00 annually.
      2.        B-tier property (partially developed lots with either a road or sewer
                access, but not both) - $28.90 per month or $346.80 annually.
      3.        C-tier property (undeveloped lots with no roads and no sewer) - $22.10
                per month or $265.20 annually.

       Assessments may be paid on a monthly, quarterly or annual basis. Monthly or
quarterly billing cycles are subject to an administrative fee of $1.25 or avoid the fee by
signing up for automatic payment or by an annual payment. Functions and


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responsibilities of the Club include, but are not limited to construct, maintain and
operate recreational facilities, including marinas, golf courses, tennis courts, club
houses, swimming pools, parks, playgrounds, streets, common areas and like facilities
for the benefit of its members, and to do all other things incidental or desirable in
connection therewith. The Club does hold architectural control over the subdivision.
Fairfield Glade is considered a “restricted” community. All new construction and exterior
changes to any home are built according to the plans submitted to and approved by the
ACC (Architectural Control Committee).

       Declaration of Covenants and Restrictions for Fairfield Glade and additional
information are available online at www.fairfieldglade.cc. The community club may be
contacted:
                                        P.O. Box 2000
                                  Fairfield Glade, TN 38558
                                    Phone: (931) 484-3780
                                    Fax: (931) 484-3747

       Buyer(s) understand and agree that the above is incorporated and deemed part
of the Real Estate Purchase Agreement:

       The undersigned Buyer(s) acknowledge(s) that prior to entering into any
Agreement to purchase any Property, he/she/they have read, received and understand
the Disclosure regarding the Property located in Fairfield Glade, Cumberland County,
Tennessee from N.R.L.L. East, LLC.

Buyer(s): ______________________________________________ Date: ___________

Buyer(s): ______________________________________________ Date: ___________




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