Community   Model   Lot   Price  

Monthly Lease

  Sq Ft (AC)   Lease Terms Start   Lease to   Lease Extensions at LBH's Option

Grand Arbors
at Twin Eagles
  Castello   Lot 71    $2,350,000    $13,708   3,658   Cert of Occupancy Approx Sep 2007   18 Months   two 6-month
Lucarno at Mediterra Asti Lot 22  $2,215,000  $12,921 3,692 Immediately 1-Jul-08 four 6-month
Lucarno at Mediterra   Barbera   Lot 23    $2,430,000    $14,175   4,273   Immediately   1-May-08   four 6-month
Lucarno at Mediterra Capriano Lot 21  $2,690,000  $15,692 4,159 Immediately 1-May-09 two 6-month
Mirada at Estuary
in Grey Oaks
  Bacara V Lot 3    $3,875,000    $22,604   5,027   Cert of Occupancy Approx Oct 2007   1-Jun-08   two 6-month
Portofino at       Miromar Lakes Alezio Lot 18  $2,765,000  $16,129 3,725 Cert of Occupancy
Fall 2007
1-Apr-09 three 6-month
Portofino at       Miromar Lakes   Bardolino Lot 19    $2,700,000    $15,750   3,343   Cert of Occupancy
Fall 2007
  1-Apr-09   three 6-month
Portofino at       Miromar Lakes Cilento Lot 20  $3,360,000  $19,600 4,164 Cert of Occupancy
Fall 2007
1-Apr-09 three 6-month
Quarry Shores
at The Quarry
  Clairborne Lot 6    $3,750,000    $28,125   5,139   Immediately   12 months   two 6-month
The Lake Club   Capriano Lot 35    $2,450,000    $14,292   3,843   Immediately   30-Jun-08   two 6-month