PADRE CANYON Value BookDesign Information & Resort Rules

SENTIERRE SENTIERRE PADRE CANYON RESORT & SANCTUARY SECTION TOPIC PAGE One A Value-Based Philosophy 4 6 Two The Value of Padre Canyon 12 18 Three Value Added by Experience-Based Site Plan & Construction Sequence 24 30 Four Value Added by the Extensive Amenities 28 36 Five Value from the Natural Colors & Materials Six Value of the Padre Canyon Architectural Style Seven Value Added by Natural Landscape, Plantings & Outdoor Rooms Eight Value Added by the Resort RulesPage 2

Capitalized terms in this booklet are defined in the “Sentierre Language and Terms” booklet. Page 3Representative floor plans, amenities, facilities, sketches, drawings, photographs, layouts, specifications, square footage, procedures and costs forSentierre Padre Canyon contain general descriptions only and are subject to change without notice. The renderings and photographs shown arevisualizations of current design or operational concepts. No guarantee is made that the features, amenities, facilities and exact costs depicted orcommunicated by artists’ renderings or otherwise described herein will be provided, or, if provided, will be of the same type, size, nature or timingas depicted or described. For California buyers, the California Department of Real Estate has not inspected, examined, or qualified this offering.

Section One a value-based philosophy Creating & Maintaining Value — The Foundation of The Resort Padre Canyon, with its location inside the breathtaking Snow Canyon State Park, is a special place — it deserves and requires a truly distinctive look and feel with an architectural character that is found only in the immediate area. It also requires unique operational, planning and branding support to create and maintain value. Great care and focus has been exercised to conceptualize and maintain this unique experience and exceptional design provided by Sentierre Padre Canyon. Natural Materials Inform the Architecture. This booklet provides an understanding of how the architecture and site planning of Sentierre Padre Canyon Resort & Sanctuary was derived using the forms, materials and colors found in and around the Canyon. Maximizing Views. Every indoor and outdoor room in the Resort has been designed to maximize the incomparable views in Padre Canyon. Drone technology, in combination with advanced computer modeling, has allowed the developers to apply a highly valuable interactive process of analysis, design changes and individual site adjustments to maximize the quality and quantity of views from every Villa and Resort building. Powerful Brand Support. The quality of the Resort team members and their service-based relationships with Owner/ Members and Guests are the singular focus of the Sentierre brand. See the Brand Book for more specific information about the Sentierre brand and operations. Construction Sequence. The construction sequence has been devised to create and support value for Villa Owner/ Members and Resort Guests. It offers assuarance that amenities will be available at the end of each phase of Villa construction, but also provides well conceived operational support and carefully engineered sound masking to minimize the impact of future construction. Resort Rules. In the sections that follow, you will also find specific descriptions of the Resort Rules for Owner/ Members, which are specifically crafted to support and protect this architectural character and value in the Villas. Upon further review, you will also discover how the value of the Villas and the Resort is enhanced by the marriage of these design characteristics to the operational integrity of the Sentierre brand. The overall perception by all those who experience the restaurants, spa, events, activities and use of amenities directly impacts the values of the Villas. This strong marriage between design and operations at Sentierre Padre Canyon leads to a reverence and regard for the Resort that will continually grow if these Resort Rules are consistently cultivated, improved and applied. Accordingly, they will serve to protect and enhance the lasting value of the Villas.Page 4

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Section One the value of padre canyon Padre Canyon — The Place Padre Canyon derives a special aura from its majestic surroundings. The vision for the architectural character of Sentierre Padre Canyon is of bold forms and colors subtly layered to parallel the exquisite mountain panorama. Surrounded by Snow Canyon State Park and the 62,000 acre Red Cliffs Desert Reserve, it is a kaleidescope of colors, forms and lights which change constantly as the sun moves across the sky. This \"Color Country\" area as the locals call it, partially roots from the unique convergence of three major ecosystems which includes the Mojave Desert, Great Basin and the Colorado Plateau. This is one of the few places in the world where this occurs. Page 6

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Section One the value of padre canyon Padre Canyon –The Location in Color Country Padre Canyon is near the convergence of Nevada, Arizona and Utah. It is located in the center of 29 National Parks, National Monuments and State Parks, 4 large wildlife preserves in addition to 3 man-made wonders including Lake Powell, Lake Mead and Las Vegas. The National Parks include the Grand Canyon National Park, Zion National Park and Bryce National Park. All are within a 120 minute drive or a 35 minute helicopter ride from the heliport in Padre Canyon. This area is often referred to as Color Country.Page 8

the value of padre canyon Section OneSentierre, Padre Canyon &Snow Canyon State Park Page 9

Section Two the value of padre canyon Padre Canyon — The Experiences & Wonders The Sentierre Padre Canyon Resort & Sanctuary shares Padre Canyon with the Tuacahn Center for the Arts. A natural ridge visually separates the performance area from the Resort Tuacahn’s unique venues and industry relationships sets it apart from all other performance venues in the U.S. The combination of Tuacahn’s differentiating features and the natural wonders of Padre Canyon surrounded by Snow Canyon State Park establishes an exciting and fulfilling foundation for the site planning process of the Resort. The design of each building has been guided by the maximization of views with the use of drone technology, in combination with advanced computer modeling. This visualization process literally guided the building design and foundation for locating each building site, especially in the Villas. Potential buyers can experience the future views including the context of the buildings around each Villa.Page 10

the value of padre canyon Section Two NORTH SNOW CANYON STATE PARK HIKING & HELIPORT HIGH SCHOOL FOR THE MOUNTAIN PERFORMING ARTS BIKE TRAIL MAIN PATH RIDGE AMPHITHEATER BIKE TRAIL RIDGESNOW CANYON STATE PARK THE NARROWS MAIN PATH MAIN PATH THE COVE TRAIL TO 3 PONDS STABLES & RODEO ARENA BIKE TRAIL TUACAHN DRIVE HIKING & SNOW CANYON MOUNTAIN STATE PARK BIKE TRAIL SENTIERRE PADRE CANYON TUACAHN CENTER FOR THE ARTS Page 11

Section Three value added by experience-based site plan Padre Canyon — Site Plan The Resort is fashioned as a walking village which provides multiple experience pods organized at intervals as shown on the opposite page. The Resort is strategically designed to entice people to walk along the Main Path to interact with all of the major experiences, Resort Amenities and Pathways in Padre Canyon. This makes the front door and entry areas of the Villas a major design feature as the primary access point to the Main Path as opposed to the focus on garage access found in traditional subdivisions.Page 12

value added by experience-based site plan Section Three NORTH RESORT THE COVE POSSIBLE HOTEL & VILLAS FUTURE AMENITIES, DEVELOPMENT POOLSTHE NARROWS CURRENT TUACAHN VILLAS ACTIVITIES, FOOD, STABLES, ENTERTAINMENT Page 13

Section Three value added by experience-based site plan — construction sequence A of the sanctuary SOUND MASKING INFRASTRUCTURE SYSTEMS THE FOUNTAINS BELOW WILL BE 1. STORM WATER PROTECTION SYSTEM PART OF A SPECIALLY ENGINEERED 2. SILT MANAGEMENT SYSTEM 3. SOILS COMPACTIONS ELECTRONIC SOUND MASKING 4. ROCKFALL FENCE & CATCH SYSTEM SYSTEM (TAKING THE TOPOGRAPHY 5. SEWER & WATER AND MATERIALS IN PADRE CANYON 6. WILDLIFE PROTECTION FENCING SYSTEM INTO CONSIDERATION) IN ORDER TO 7. POWER (INCLUDING SOME SOLAR) MITIGATE FUTURE CONSTRUCTION 8. FIBER & CABLE DISTRIBUTION NOISE. THIS WILL BE IN ADDITION TO THE 9. PARKING, ROADS, PATHWAYS, TRAILS NORMAL CONSTRUCTION FENCE SOUND 10. COMPREHEHNSIVE FIRE PROTECTION SYSTEM BARRIERS. THESE BARRIERS WILL BE IN 11. SOUND MASKING SYSTEM PLACE IN VARIOUS LOCATIONS FOR THE ENTIRE CONSTRUCTION SEQUENCE OF THE PROJECT. THERE IS NO GUARANTEE OF THE EFFECTIVENESS OF THESE BARRIERS IN THE ENTIRE CANYON. STORM WATER ROCKFALL PADRE ROCK & SILT CHANNEL, FENCE (DOWN LIGHTS WILDLIFE FENCE AT NIGHT) MULTI-PURPOSE OUTDOOR EVENT ROOM, VIEW PORTAL & FOUNTAIN VILLAS SANCTUARY LIGHTED SUITES “MAIN PATH” VILLAS MAIN PATH SPA TRAILHEAD CAFE, GRAB &GO MARKET, THE NARROWS FACILITIES (INCLUDING KITCHEN & STORAGE) ENTRY DRIVE & BRIDGE SOUND BATH TREATMENT & FOUNTAIN VILLAS TUACAHN SUITES LOBBY, SPA RECEPTION, LOCKERS, MEMBER ROOMS,FITNESS CENTER POOL, CABANAS, SPLASH PADS, F&B OUTLET VILLAS SENTIERRE SUITES FIRE PIT & FOUNTAIN OUTDOOR ROOM THE SANCTUARY (Inside the red line) SERVICE ENTRANCE, SERVICE DOWNSTAIRS ROAD MECHANICAL, STAFF ROOMS, STORAGE, MEMBER STORAGE ROOMSPage 14

value added by experience-based site plan — construction sequence A Section ThreeThe Sanctuary — An Ultra Luxury Experience (CONSTRUCTION SEQUENCE A)The initial design concept for the Sentierre Padre Canyon was as an ultra luxury Sanctuary as described in theSentierre Brand Book. The plan expanded only after it became apparent that the market could absorb a largerhospitality project. The initial development sequence will produce the original ultra luxury Sentierre Sanctuary asconstruction will start to the south and organically move to the north. This sequence will minimize disruption andnoise in the long run and will make efficient logistical use of a sophisticated storm water system, soils enhancement,and a rockfall barrier all to protect the graded site from water runoff and rockfall. The construction effort isplanned to be executed continuously, and will follow this general linear pattern. This same plan is a minimumrequirement by Ivins City as evidenced in the Development Agreement with Sentierre. The luxurious Villas haveall been strategically sited with drone technology establishing spectacular view corridors and enhancing pedestriannavigation through the Narrows portion of the Main Path with its wonderful rock and water elements; Sentierre Sanctuary with approximately 30,000 SF of treatment rooms, pre-treatment rooms, sound bath, hot and cold treatmentRESORT HOTEL & RESIDENCES PADRE CANYON and other wellness facilities and rest areas. The cafe is a 3 meal restaurant with 44 indoor seats, 28 outdoor seats and breathtaking view of Padre Rock. The cafe will beRESORTHOTEL&RESIDENCES PADRECANYON chef driven until the signature restaurant in Phase 2 is constructed. Fitness Center with the latest equipment and yoga studio areas. RESORT HOTEL & RESIDENCES PADRE CANYON Outdoor fitness stations throughout the Resort. RESORT HOTEL & RESIDENCES PADRE CANYON Pools and recreation areas with splash pads for adults and children. RESORT HOTEL & RESIDENCES PADRE CANYON Pool cabanas. RESORT HOTEL & RESIDENCES PADRE CANYON Exclusive Member's Room. RESORT HOTEL & RESIDENCES PADRE CANYON Kids Club indoor and outdoor room play areas. RESORT HOTEL & RESIDENCES PADRE CANYON Lobby and reception area with spectacular views. RESORT HOTEL & RESIDENCES PADRE CANYON 8 Sanctuary Suites, each with an abundance of natural light and privacy walls in the bathrooms and an area RESORT HOTEL & RESIDENCES PADRE CANYON for in-guestroom spa treatments. 4 Tuacahn Suites, each with its own pool, privacy walls and intimate spaces. RESORT HOTEL & RESIDENCES PADRE CANYON 37 deluxe guestrooms. RESORT HOTEL & RESIDENCES PADRE CANYON 1 hotel Villa. RESORT HOTEL & RESIDENCES PADRE CANYON Complete infrastructure (listed on the opposite page) including a sophisticated sound-masking system to RESORT HOTEL & RESIDENCES PADRE CANYON control noise from future construction and from The Tuacahn Center for the Arts. 8 to 20 luxury Villas, depending upon timing of sales. RESORT HOTEL & RESIDENCES PADRE CANYON Page 15

Section Three value added by experience-based site plan — construction sequence B TORTOISE SOUND MASKING NATURE CENTER THE FOUNTAINS BELOW WILL BE PART OF A SPECIALLY ENGINEERED ELECTRONIC SOUND MASKING SYSTEM (TAKING THE TOPOGRAPHY AND MATERIALS IN PADRE CANYON INTO CONSIDERATION) IN ORDER TO MITIGATE FUTURE CONSTRUCTION NOISE. THIS WILL BE IN ADDITION TO THE NORMAL CONSTRUCTION FENCE SOUND BARRIERS. THESE BARRIERS WILL BE IN PLACE IN VARIOUS LOCATIONS FOR THE ENTIRE CONSTRUCTION SEQUENCE OF THE PROJECT. THERE IS NO GUARANTEE OF THE EFFECTIVENESS OF THESE BARRIERS IN THE ENTIRE CANYON. PETROGLYPH PARK THE CASITA “A” DOWNSTAIRS GATHER ADDITIONAL MECHANICAL ROOMS, PORTE STORAGE, MEMBER COCHERE OUTDOOR LOCKER ROOMS, STAFF ROOMS, BOH FUNCTION THE ROOM SANCTUARY SIGNATURE FOUNTAIN RESTAURANT FUNCTION OUTDOOR VIEW ROOMS FUNCTION PORTAL INDOOR FOUNTAIN ROOM CABANAS, POOL POOLS, SLIDE, MAIN PATH SPLASH PADS EVENT CASITA “A” LAWN WELCOME HOUSEPage 16

value added by experience-based site plan — construction sequence B Section ThreeMore Luxury Amenities and ExperiencesThis organic extension of the Sanctuary in the construction sequence will deliver more luxury amenities,experiences and luxury hotel suites as follows: A chef driven signature restaurant serving distinct, seasonal, meal specific menus including good options for young people that are fun and appetizing. A private Chef’s Table area, partially located in the open kitchen and partially in the signature restaurant. It seats 10 and is available only to Owner/Members. It is the perfect place to have a small dinner party and will please the most discerning of guests. Poolside grille and lounge with modern comfort food and outdoor grilled favorites. The Gather has your adventuring needs in energy bars and refreshments including fresh baked goods and custom organic proteins. Sentierre Padre Canyon has numerous indoor and outdoor function rooms and event spaces suitable for almost any intimate high-end event, meeting, reception or wedding. These indoor and outdoor rooms have complete technology support and have been carefully designed to be changeable into the look and configuration the guest or meeting planner desires. The Member’s Locker Room downstairs in the central hotel building will be for Owner/Members & their guests only. It will serve as a place to store family belongings required to have fun at the Resort. It is close tothe swimming pools and all of the related activities.RESORT HOTEL & RESIDENCES PADRE CANYON The Heliport allows those who need immediate direct access from airports — a distinct convenience. It also provides a place for helicopter tours to the wondrous natural places and recreational pursuits that surround Sentierre Padre Canyon. It provides direct access to the Sentierre Yacht at Lake Powell. 3 additional pools (including the indoor pool), cabanas, splash pads and a water slide will be added. The Brigde & Tower described on Page 20 will provide an unique experience and iconic feature. Page 17

Section Three value added by experience-based site plan — construction sequence CTRAIL TO IVINS TbCahocekndmsrotaprnuoyfctdhtiiefofesprnWMeAAeLInNcKCttiaaoctuimnlagrpPRAvODdlCiRKeeeE wstigisonfrGnAoTTHfHmEeERatthuereTPNCOsEARrNTTUTOoERcIRSpEEoeurptylewdillwgietnhertahtee wvehriychpothseityivheaveemboeteionndaelSsAirNSgUCeITTnsUEASpeRYodn. sTeshe—inteexraaCccASttIiTlAvySe“At”ehxepepruiernpMAcoINesse for MAIN and WALK “Pathways” highlighted bySPtAhe site planning will provide sWeALaKmless transition from place to place along the Main Walk and throughout the ReTHsEoNrAtR.ROTWShe SentTiUeArCArHeN Path GuidMAeINsHOwTEiLll be a big part of the customized service forSUeITaEcS h Owner/Member and Guest. Timely THE COVE rdeesspigonnsfeeastuanreds.hTighhislSseEtSNvUrTIIeToEERlSnRsEgoufnsi&eoBTRrOnIDvWGoiEERcfeddeasyignafatnerd day support the sCAeSIrTAvSi“Ac”e results in the most effective way to protect and enhance the long term value of Villas and of the Resort — the primary objective of Sentierre anSdENtTIhEReRE Padre Canyon Resort. CASITAS “B” SANCTUARY (HOTEL WITHIN A HOTEL) TUACAHN DR SENTIERRE PADRE CANYON RESORT & SANCTUARY

value added by experience-based site plan — construction sequence C Section Three HIGH SCHOOL FOR THE' RESTAURANT PERFORMING ARTS & RETAIL MAIN AMPHITHEATER Completed Resort WALK TRAIL TO When completed, the Resort will have all theHELIPORT THREE PONDS interactive and differentiating elements described in previous sections. Every square foot of the site ROSDTAEOBRLLAAEORSNEB&NTBASY,, RESTAU- has been utilized to support the Sentierre focus on MEETING interaction. The special nature of Padre Canyon ROOMS, SPA will be exhibited by the finest design, the quality of materials and the craftsmanship. Combined with the excellent level of service at the Resort, it will truly be special, possibly the best Resort of its kind in the U.S. The primary purpose of the Resort is to support the value of the Villas day after day, for decades to come. TUACAHN CENTER FOR THE ARTS Page 19

Section Four value added by the amenities — bridge and tower LOBBY Main Walk — Bridge & Tower BRIDGE The bridge and tower extend from the upper level of the main hotel building and lobby area. The bridge has widened areas for guests to stop and take in the wondrous scenery from the most central location within Padre Canyon. Using a basalt slab design, the tower strikes a common yet distinctive contrast to the red rocks and earth that surround it. From the tower, visitors can view through telescopes the detailed rock formation on the cliffs that surround Padre Canyon. The bridge and tower are part of the Main Path, creating energy as visitors pass through. TOWERPage 20

value added by the amenities — pool & recreations areas Section FourSpecific Descriptions — Pool & Recreations Areas LC A BAside from the numerous food, beverage, meeting, spa, fitness and retail amenities, MGSentierre Padre Canyon is planning the items highlighted below: G N A. Tortoise Nature Center D B. Petroglyph Park C. Padre Rock multipurpose outdoor event space and viewing portal M D. The Gather bike racks and rest area E. Three (3) outdoor pools E EF M F. One (1) indoor pool JJ H JL G. Children’s play areas H. Water slide EI I. Splash pads and other water toys J. Cabanas (reservations required) K. Event lawn L. Fire pits M. Fountains N. Fitness stations O. Numerous paths and trails M LK Page 21

Section Five value added by the color and material palette architects•interiors SPLIT ROCK DESIGN | KUMA ENGINEERING CO Colors and Materials The site reveals a rich composition of rock, vegetation, and earth, LAYTON | DDRM providing the basis for our color palette, material choices, and textures. These images, including the large boulder called Padre 07.31.2014 | AP1401 | IVINS, UTAH Rock, have inspired a number of creative directions for the entire MATERIALITY Resort. Its wide range of red colors contrasted by gray and metallic charcoal provide an alluring array of choices.Page 22

value added by the padre canyon architectural style Section SixArchitectural StyleThe architecture thoughtfully engages the natural terrain through careful siting, use of complementary materials,and articulated massing. The result is a collection of richly detailed low-slung buildings that drape across thehillside. Padre Rock, as a central element, has become a focus for the project with all Pathways leading to the rock.The entire design is conceived to draw you outside to interact with the incredible natural surroundings and theResort Pathways and experiences. Page 23

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value added by the padre canyon architectural style Section SixPadre Canyon Style — Luxury of InteractionAllen & Philp, master architects from Scottsdale, Arizona, have created thisdistinctive Padre Canyon style based on the colors and forms in the immediatearea. Using clean, bold yet efficient lines, these luxurious Villas are created forresort living and interaction between indoor rooms and outdoor rooms. Theoutdoor rooms are found in every direction and comprise approximately onethird of the gross square feet of the Villas. They interact with the indescribableviews in every direction. All four Villa plans have splash pools. The varyingmaterials bring a memorable richness to the desert landscape. The gentle slopeof the site creates a willing palette for these intriguing Villas allowing them tosit softly on the landscape. The entry experiences of each Villa plan draw youout to the Main Path to interact with the luxury of nature and with the ResortPathways. Page 25

Philp, of Scottsdale. This has proven very effective in generating the many differentiated and exciting features in the Resort. Split Rock's extensive local experience has brought a solid understanding of the site and local material sourcing. The design partnership has focused on leaving the site in as close to a natural state as possible. The list of planting has a large percentage of native plants. The hard and soft landscape elements are used to highlight view corridors and the walking experience. This team has created a design which blurs the divide of man and nature by bringing the inside out and the outside in. The creation of outdoor rooms, with seating areas and view perspectives is a major focus. This is all done with the backdrop of the awe-inspiring site and its natural attributes.Page 26

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Section Seven value added by natural landscape, plantings & outdoor rooms — the narrowsMain Path —TheNarrowsA featured attraction in the area around Padre Canyon is unusual rock and mountain formations called “slot canyons.” The Narrows portion of the MainPath in the Resort has taken its creative direction from the entrances into these canyons, where large boulders seem to be standing at guard, allowing onlya chosen few to enter. The walking experience through The Narrows will be memorable. While the upper row of Villas is an approximate average of 12feet above the lower row of Villas, the boulders are strategically placed to preserve as much privacy as possible for both the upper and lower Villas. Owner/Members of these Villas will have the option of creating an access point along The Narrows.Page 28

value added by natural landscape, plantings & outdoor rooms — the cove Section SevenMain Path — The CoveThe Cove section of the Main Path has an open feel and features water along with native landsaped boulders and red earth. It has a small view portal to thesouth (left) and a large view portal and fitness station to the north (right). Both portals will have curated art pieces yet to be chosen. The strategic placementof privacy walls, boulders and trees will foster privacy while focusing on open areas and distant view corridors. The panoramas across the pond against thebackdrop of the colored mountains and cliffs in every direction make this an extaordinary area for the Villas — all of which have been specifically designedand sited to maximize the views. Page 29

Section Eight value added by the resort rules — general informationThese Resort Rules are devised to protect and enhance the values of your Villa. The Resort Rules apply to Owner/Members, to Occupants on a long termlease, and to guests and visitors of Owners and Occupants. Sentierre Padre Canyon Resort & Sanctuary has been meticulously and thoughtfully conceivedand designed to five star standards. The use of each square foot of space in the entire Project Site strategically supports and enhances value in some way.While the Resort Owner cannot guarantee that rating agencies will grant five star status, the Resort’s operations, level of service, and focus is as a five starexperience. The Villas with the materials, colors, forms and sustainable features are part of the Resort. Throughout the design process, the entire design andoperational teams of Sentierre Padre Canyon have been asked to conceptualize the Resort experience as though all of the amenities and uses in the Resortare contained in a single high rise building with the residential units on separate upper levels. The operational objectives of Sentierre Padre Canyon requirethis approach — except the different uses are spread out over 43 acres in separate buildings. Providing access and connections to all of these buildings anduses becomes the challenge, which the design team has met. However, these Resort Rules will provide the Resort Owner with appropriate tools to supportand perpetuate the design quality and level of service contemplated by the Resort and those who purchase the Villas. It is the basis for preserving andenhancing the long term value of the Villas:Category DescriptionGENERAL INFORMATION (\"G\")G-1. General As used in these Resort Rules, the following terms shall have the following meanings:Definitions (a) “Occupant” means a lessee or tenant under a lease with terms consistent with the Project Documents and a term of thirtyG-2. Relationship to (30) or more days, of any Villa.Declaration (b) “Permittee” means any person occupying a Villa in compliance with the Project Documents after performing the requisite check-in procedures and receiving approval from the Resort Manager to occupy the Villa. (c) All the capitalized terms used, but not otherwise defined, in these Resort Rules have the meanings ascribed to such terms in the Master Definitions, a copy of which has been delivered to each Owner/Member or the Sentierre Language and Terms Booklet. These Resort Rules are in addition to the terms, covenants, conditions, restrictions and agreements of the Declaration and the Use Agreement. In the event of any conflict between these Resort Rules and the Declaration or the Use Agreement, the Declaration, then the Use Agreement, shall control.G-3. Applicability These Resort Rules apply to the Owner/Members and their Permittees.G-4. Waivers The Resort Owner may waive any one or more Rules in these Resort Rules, but no such waiver shall be construed as a waiverG-5. Future Rules of any other Rule nor prevent Resort Owner from thereafter enforcing any of these Resort Rules.and Regulations Resort Owner reserves the right, with the input of the Resort Committee, to make such other reasonable Resort Rules as, in its judgment, may from time to time be needed for safety and security, care and cleanliness of the Resort, the preservation of good order therein, the governance thereof by Resort Owner or to preserve or enhance the value of the Villas or the Resort as a whole.Page 30

value added by the resort rules — general information Section EightCategory DescriptionG-6. Compliance The Owner/Members and their Permittees shall comply with all Resort Rules as set forth in herein, as they may be amendedwith Resort Rules by the Resort Owner, with the input of the Resort Committee, from time to time.G-7. Delegationof Rights to Resort Resort Owner may delegate any or all of its rights set forth in these Resort Rules to the Resort Manager. Resort Owner andManager the Resort Manager reserve the right to enforce and to initiate legal and/or any other proceedings permitted against anyG-8. Applicability to Owner/Member for breach of any of these Resort Rules and shall have the right to approve any changes hereto that mayOther Occupants affect Resort Owner.G-9. Family and While these Resort Rules are intended to apply to Owner/Members and their Permittees, in the event a person or personsFriends occupy a Villa and do not qualify as Permittees, these Resort Rules will apply to such occupants. As with the actions of its Permittees, each Owner/Member shall be responsible for all occupants of its Villa. In the event any such occupant is inG-10. Designated violation of these Resort Rules, the Resort Owner will be entitled to enforce any and all remedies described in these ResortRepresentative of the Rules, including the payment of any fines or charges, against the applicable Owner/Member.Owner/Members To facilitate the Resort Manager in providing service to the Owner/Members and their Permittees, the Resort Manager will keep a list of the Owner/Members’ family members and close friends who may occupy an Owner/Member’s Villa. Upon purchasing a Villa and from time to time when the Resort Manager updates such list, the Owner/Members shall provide the Resort Manager the names and contact information of its family members and close friends who are likely to occupy its Villa. In the event more than one person or a limited liability company or other business entity constitutes an Owner/Member, the Owner/Member shall provide the Resort Owner a list of all persons and their contact information who constitute the Owner/ Member and shall designate one person as the contact person for the Resort Owner and the Resort Manager. Capitalized terms in this booklet are defined in the “Sentierre Language and Terms” booklet. Page 31

Section Eight value added by the resort rules — overall resort rulesCategory DescriptionOVERALL RESORT RULES (\"OR\")OR-1. Access to the All areas of the Resort, except for the interior of the Villas, including, but not limited to walkways, trails, paths, parking ar-Resort eas, parking access drives, elevators, lobbies, restrooms, stairs, loading and unloading areas, trash areas, access drives, parkways, driveways and landscaped areas shall be under the sole and absolute control of Resort Owner who shall haveOR-2. Resort the exclusive right to regulate and control such areas. Owner/Members and their Permittees may not obstruct any part ofAppearance the Resort. Fire exits are for emergency use only and they shall not be used for any other purpose. Except for access andOR-3. Restricted use rights along certain trails or access roadways to the benefit of the Utah Department of Natural Resources (Snow CanyonUses State Park), the City of Ivins or by Tuacahn Center for the Arts, the Resort is not for the use of the general public and Resort Owner shall in all cases retain the right to control and prevent access thereto by all persons whose presence Resort Owner considers, in its sole and absolute discretion, to be prejudicial to the safety, character, reputation and interests of the Resort and the permitted users of the Resort; provided, however, that nothing contained herein shall be construed to prevent such access by persons with whom an Owner/Member normally deals in the ordinary course of its business, except that Resort Owner reserves the right to exclude or expel from the Resort any person who, in the judgment of Resort Owner, is intoxicated or under the influence of a behavior-modifying substance, or otherwise behaving erratically (except those persons within a Villa), or who shall in any manner act in violation of any of these Resort Rules. Neither the Owner/Members nor any of their Permittees shall go upon the roof of any structure within the Resort. Resort Owner retains absolute control over the appearance of all parts of the Resort and neither the Owner/Members nor any of their Permittees may, without Resort Committee’s prior written consent, install or permit to be installed any awnings, files, fixtures, furniture, lighting (including holiday lighting), paintings, curtains, drapes, blinds, shades, signs, lettering, placards, decorations (including holiday decorations) or advertising media of any type, or any other item which can be viewed from the exterior of the Villa. If Resort Committee consents to the installation of any such items, no subsequent changes, alterations or modifications shall be made to such installed items without the prior written consent of Resort Committee. Owner/Members and their Permittees may not sell, or permit the sale at retail, of newspapers, magazines, periodicals or any other goods or merchandise to the general public in or on the Resort. Owner/Members and their Permittees may not make any room-to-room solicitation of business from anywhere within the Resort. Owner/Members and their Permittees may not use the Resort for conducting any business or activity other than that specifically provided for in these Resort Rules or the other Project Documents.Page 32

value added by the resort rules — overall resort rules Section EightCategory DescriptionOR-4. Default and In the event that any Owner/Member or its Permittees fail to keep and perform any of the terms and conditions of these Re-Remedies sort Rules, immediately upon written notice from Resort Owner of such failure, Resort Owner shall have the right to restore any affected part of the Resort to its original condition, and the Owner/Member shall reimburse Resort Owner upon demand for such cost of restoration. A failure by such Owner/Member to comply with the terms and provisions of these Resort Rules shall constitute a default under the Declaration and/or the Use Agreement, and Resort Owner shall be entitled to any and all remedies which may be available to Resort Owner thereunder. In addition to any remedy in the Declaration or otherwise, in the event an Owner/Member or its Permittees do not comply with these Resort Rules, the Resort Owner may pursue any or all of the following remedies, as determined by the Resort Owner or the Resort Committee: (i) fine such Owner/Member in an amount approved by the Resort Committee, (ii) deny such Owner/Member and its Permittees access to the Resort Amenities, (iii) seek injunctive relief, or (iv) pursue any other remedy available at law or in equity.OR-5. Accidents and Owner/Members shall give Resort Owner prompt written notice of any accidents occurring in, or related to the Resort (withDefects the exception of any accidents incurring inside a Villa, which is the responsibility of the Owner/Member), or of defects in the Resort, including the plumbing, water pipes, electric wire or heating apparatus, so that same may be attended to promptly.OR-6. HVAC, Water No water cooler, water heater, heating or air conditioning system, solar panels, water softeners and filters or other built-in ap-Heating Systems paratus or appliance other than that supplied or approved by Resort Owner, may be installed or used by an Owner/Member or their Permittees without the prior written consent of Resort Committee.OR-7. Fire Owner/Members and their Permittees may not do anything in the Resort, or bring or keep anything therein, which will in anyPrevention way increase or tend to increase the risk of fire, or which shall conflict with the regulations of any fire department serving the Resort, or the fire laws, or with any insurance policy on the Resort, or with any rules or ordinances established by any other governmental agency.OR-8. Exterior Owner/Members and their Permittees may not mark, paint, drive nails, screw or drill into exterior facades, window frames,Changes or partitions, woodwork or plaster in the exterior of the Villas or any part thereof without the express permission of the ResortPenetrations Committee.OR-9. Use of Owner/Members and their Permittees may not waste electricity, water or air conditioning and agree to cooperate fully withElectricity, Water and Resort Owner to assure the most effective operation of the Resort’s heating and air conditioning, and complying with anyAir Conditioning governmental energy-saving rules, laws or regulations of which the Resort has actual notice. Owner/Members and their Per- mittees may not obstruct, alter or in any way impair the efficient operation of the Resort’s heating, ventilating, air-conditioning, electrical, plumbing, sprinklering, fire safety or lighting systems. Owner/Members and their Permittees may not tamper with or change the setting of any thermostats or temperature control valves (other than those within a Villa).OR-10. Moving All move-ins and move-outs must be coordinated with the Resort Owner, and any additional costs to the Resort, such as extra trash removal, shall be paid for by the Owner/Member. Placement of moving vehicles of various sizes must be coordinated with the Resort Manager in order to provide a smooth moving process. Capitalized terms in this booklet are defined in the “Sentierre Language and Terms” booklet. Page 33

Section Eight value added by the resort rules — overall resort rulesCategory DescriptionOR-11. Address Resort Owner shall have the right, without liability to any Owner/Member, to change the name and street address of the Re- sort or any part thereof, provided that Resort Owner shall provide the Owner/Members with prior notice of any such change.OR-12. Fire Each Owner/Member and its Permittees shall comply with all safety, fire protection and evacuation procedures and regula-Regulations tions established by Resort Owner or any governmental agency.OR-13. IdentificationRequirements Resort Owner reserves the right to exclude from the Resort persons who have not been qualified as Permittees. A person qualifies as a Permittee by following the requirements in Rules V-4 and R-3 below. An Owner/Member shall be responsible for its Permittees (and pursuant to Rule G-8, those occupants who do not qualify and Permittees) and such Owner/Member shall be liable to Resort Owner for all acts of such persons. Resort Owner shall not be liable for damages for any error with regard to the admission or exclusion from the Resort of any person. In the case of invasion, mob, riot, public excitement, natural disaster, significant damage to any portion of the Resort or other circumstances rendering such action advisable in Resort Owner’s sole and absolute discretion, Resort Owner reserves the right to prevent access to the Resort during the continuance thereof by such actions as Resort Owner may deem appropriate, including closing and locking doors or gates.OR-14. Resort Each Owner/Member and its Permittees shall comply with all requirements necessary for the security of the Resort.Security and AccessOR-15. Kerosene, Owner/Members and their Permittees may not use or keep in or about the Resort (other than within the fuel tanks of vehicles)Gasoline, any kerosene, gasoline or inflammable or combustible fluid or material. Owner/Members and their Permittees may not useInflammable or any method of heating or air-conditioning other than that supplied by Resort Owner. Owner/Members and their PermitteesCombustible Fluids, may not use, keep or permit to be used or kept any foul or noxious gas or substance in or about the Resort or to permit anyOther Noxious unusual or objectionable odors to emanate from the Villas, or permit or suffer the Resort to be occupied or used in a mannerSubstances or offensive or objectionable to Resort Owner because of noise, odors, vibrations, or otherwise, or interfere in any way with otherDisturbances users of the Resort or those having business in the Resort.OR-16. Antennas, Owner/Members and their Permittees may not install any radio or television antenna, satellite dish or antenna, loudspeakerDishes, Loudspeakers or other device on the roof or exterior walls of the Villa or the Resort (including the balconies or outdoor rooms) without theon Exterior or Roofs approval of the Resort Committee.OR-17. Canvassing, Canvassing, soliciting, distribution of handbills or any other written material, or peddling in, on, or about the Resort is prohib-Soliciting, Peddling ited, and each Owner/Member and Permittee shall cooperate and assist Resort Owner to prevent same.Page 34

value added by the resort rules — overall resort rules Section EightCategory DescriptionOR-18. Outside Owner/Members or their Permittees shall not use outside vendors for delivery or service to the Resort for food, milk, softServices drinks, bottled water, ice, plant maintenance or any other services, except from persons authorized by Resort Owner and at the hours and under regulations fixed by Resort Owner. Resort Owner may adopt policies and procedures for the approval ofOR-19. Trash, outside vendors. Resort Owner shall not be responsible to any Owner/Members for any loss of property on the Resort, how-Garbage or Refuse ever occurring, or for any damage done to the effects of the Owner/Members by such outside vendors. Vending machines and soft drink machines shall be installed, maintained or operated in the Resort only upon the prior written consent of ResortOR-20. Advertising Committee, which consent may be withheld in Resort Owner’s sole discretion.or Public RelationsOR-21. Merchandise All garbage and refuse removal and disposal shall be performed by the Resort Owner in accordance with the schedule andOR-22. Approved procedures established by the Resort Manager. Owner/Members and their Permittees may not deposit any trash, refuse,Cleaning and cigarettes, or other substances of any kind on the Resort, except in the refuse containers provided therefor. All trash andMaintenance garbage shall be stored within the designated trash storage area and in containers provided by the Resort. No material shallOR-23. Work within be placed in the trash boxes or receptacles if such material is of such a nature that it may not be disposed of in the ordinaryVillas and customary manner of removing and disposing of trash and garbage in the City of Ivins without being in violation of any law or ordinance governing such disposal. Resort Owner will pick up outside trash containers regularly. Request for extra trash removal will be available upon request, but may be subject to reasonable charges from the Resort Owner. Owner/Members and their Permittees may not engage in or permit any advertising nor do public relations which, in Resort Owner’s opinion, tends to impair the reputation or the desirability of the Resort. The Villas in the Resort shall not be used for storing merchandise held for sale to the general public, conducting any auction or manufacturing, nor shall the Villas in the Resort be used for any improper, immoral, objectionable or illegal purpose. No Owner/Member shall occupy or permit any portion of the Resort (other than a Villa for which the rules governing are set forth below) to be occupied as an office for any commercial activity without the express written consent of the Resort Committee. Except with the written consent of Resort Committee, no person or persons other than those approved by Resort Manager shall be permitted to enter the Resort for the purpose of cleaning or maintaining Villas or other areas within the Resort. Own- er/Members and their Permittees may not cause any unnecessary janitorial labor by reason of carelessness or indifference in the preservation of good order and cleanliness in the Resort. Employees of Resort Owner shall not perform any work, nor do anything beyond their regular duties for Resort Owner within the Villas unless under special instruction from Resort Owner acting upon request by the Owner/Members, and employees of Resort Owner will not be obligated to admit any person (Owner, Permittee or otherwise) to any office controlled by Resort Owner without specific instructions from Resort Owner. Page 35

Section Eight value added by the resort rules — overall resort rulesCategory DescriptionOR-24. Machines, Machines and mechanical equipment, if any, which cause noise or vibration that may be transmitted outside of the Villa inEquipment which they are located to such a degree as to be objectionable to Resort Owner or to any Owner/Member or Permittee, must be transmitted on vibration eliminators or other devices sufficient to eliminate noise or vibration to below 80 decibels. Re-OR-25. Infestation sort Owner will not be responsible for loss of, or damage to, any such equipment or other property from any cause, and all damage done to the Resort by maintaining or moving such equipment or other property shall be repaired at the expense ofOR-26. Villa the Owner/Member.Outdoor Rooms(Terraces, Patios, If any portion of the Resort becomes infested with insects, bed bugs, or other vermin as a result of the use or any misuse orEntries, etc.) neglect of the Resort by any Owner/Member, or any of its Permittees, Resort Owner may, as an Owner/Member MaintenanceOR-27. Prevention of Expense, cause the same to be exterminated from time to time to the satisfaction of Resort Owner and shall employ suchTheft, Robbery and licensed exterminators as shall be approved in writing in advance by Resort Owner.PilferageOR-28. Signs and Any alteration of a Villa or use different than intended at the time of delivery of the Villa to such Owner/Member of any outdoorAdvertisements room, terrace or other improvement outside of the Villa (including any patio or balcony contiguous and related to a Villa) shall be subject to Resort Owner’s prior written permission and the approval of the Resort Committee, and may be subject to anyOR-29. Sound further regulations, rules and restrictions as the Resort Owner and Resort Committee may adopt from time to time regardingEmitting Devices such use.OR-30. SmokingOR-31. Children Each Owner/Member, and its Permittees, assume responsibility for assisting Resort Owner to protect the Resort from theft, robbery and pilferage, which includes keeping doors locked and other means of entry to the Resort closed, to the extent such doors or other means of entry are used by an Owner/Member or its Permittees. No sign, advertisement, notice or handbill shall be exhibited, distributed, painted or affixed by any Owner/Member or Per- mittee on any part of the Resort (excluding items within Villas that are not visible from the exterior of such Villas), without the prior written consent of the Resort Owner, which consent may be withheld in Resort Owner’s sole and absolute discretion. In the event of the violation of the foregoing by any Owner/Member or any of its Permittees, Resort Owner may remove same without any liability, and may charge the expense incurred in such removal to the applicable Owner/Member. Owner/Members and their Permittees may not use any sound emitting device (including but not limited to loudspeakers, mi- crophones, transmitters, klaxons, alarms, horns, amplifiers or audio or visual equipment) in any manner causing or otherwise disturbing or disrupting the operation of the Resort or the enjoyment of the Resort by other persons or Owner/Members. In addition to Rule OR-15, no smoking (including the use of electronic cigarettes and similar devices) is permitted in any Resort structure except within a Villa or designated smoking area in the Resort, if provided. Resort Owner reserves the right to designate, relocate or discontinue smoking areas in the Resort at any time with the approval of the Resort Committee. Owner/Members shall be responsible for the conduct of their children and the children of their Permittees, insuring that their behavior is neither offensive to any occupant of the Resort nor damaging to any portion of the Resort facilities. Children will not be permitted to play in the Resort Shared Areas or any other area of the Resort, unless such areas are designated for play by children by Resort Manager.Page 36

value added by the resort rules — overall resort rules Section EightCategory DescriptionOR-32. Prohibited Hanging, cleaning, drying or beating garments, rugs, towels or the like from or on the windows, balconies, fences, patios orHanging Items facades of the Villas is prohibited.OR-33. PersonalCharges Each Owner/Member shall be responsible for the prompt payment of personal charges and/or damages which may be in- curred by such Owner/Member or its Permittees and are due and owing to the Resort. Such charges are independent ofOR-34. Reporting of and in addition to Assessments. Non-payment of such charges will result in suspension of use privileges and the exerciseProblems of other remedies by Resort Owner.OR-35. Drones The Resort Owner has employed a professional Resort Manager and staff who are responsible for operation of the Resort. It is important for an Owner/Member to report any problems which might arise directly to the Resort Manager or a designated staff person. A representative of the Resort Manager will be available by telephone 24 hours a day. Please call the front desk for assistance. The operation of a drone in the Project, if allowed by the Resort Owner, must comply with all Federal Aviation Administration rules and any additional rules adopted by the Resort Owner. No Owner/Member or its Permittees may operate, cause, allow or authorize the operation of a drone in the airspace above any portion of the Project in such a way as to invade the privacy of any Owner/Members, Permittees or other person, whether equipped with a camera or otherwise. Prior written approval of the Resort Owner must be given for the operation of a drone anywhere within the airspace of the Resort. A “drone” is defined as an unmanned aircraft and all of the associated support equipment, control station, data links, telemetry, communications and navigation equipment, etc., necessary to operate the unmanned aircraft. Capitalized terms in this booklet are defined in the “Sentierre Language and Terms” booklet. Page 37

Section Eight value added by the resort rules — pools & related recreational areaCategory DescriptionPOOLS & RELATED RECREATIONAL AREAS (\"PL\")PL-1. Pools, Hot Use of the pool, hot tubs, slides, splash pads and other recreational facilities included as part of the pool, fitness center, spaTubs, Slides and and any other amenities and recreational facilities in the Resort is solely at the Owner/Members’ and their Permittees’ risk.other Recreational Use of the pool, hot tubs, fitness center, spa and other Resort Amenities may be restricted to specific rules and to operationFacilities during certain hours of the day which may vary from time to time at the discretion of Resort Manager. Hours and rules of use will be posted at such facilities.PL-2. PoolsPL-3. Use of Pools The pools will open at times as posted, weather permitting. LIFEGUARDS WILL NOT BE PROVIDED. ALL SWIMMING AND POOL AREA USE WILL BE “AT YOUR OWN RISK.”PL-4. Special Event One or more, but not all, of the pools may be closed from time to time for special events or for reasons of safety, including:and Safety Issues (a) when it is raining; or (b) when there is danger of an electrical storm. The pool and related facilities are subject to the State of Utah laws and other applicable regulations.PL-5. Subject toState Laws Users of the pool and recreational areas are responsible for the removal of all their personal effects when they leave the area.PL-6. Removal of Other than advanced reservations for cabanas by Owner/Members, Pool area seating may not be “reserved” unless anPersonal Effects Owner/Member or Permittee is actually present in the pool area. Furniture provided may not be removed from the pool area. Infants in diapers and/or children not toilet trained are only allowed in the pool with swim diapers.PL-7. Use Designated eating areas may be provided and should be maintained in a clean condition.Restriction Except those pets licensed to provide aid to and which are accompanied by a disabled person, pets are not permitted in the immediate pool area and may not use the pools or hot tubs without the express written permission of the Resort Manager.PL-8. Infants Owner/Members are responsible for the conduct of their Permittees.PL-9. Eating Areas Audio devices may only be used outside of Villas with personal headphones.PL-10. Pets in Pool No ball playing is allowed in the pool area.Area Bathing suits are the only proper attire for the pool. Cut-offs and street clothing are not allowed in the pool.PL-11. Conduct of Horseplay, running, jumping and boisterous conduct is not allowed in the pool or other Resort Amenities.Permittees CHILDREN 14 YEARS OF AGE AND UNDER MUST BE ACCOMPANIED BY AN ADULT AND ARE NOT ALLOWED IN THE POOL OR OTHER RESORT AMENITIES WITHOUT CLOSE ADULT SUPERVISION.PL-12. AudioDevicesPL-13. Ball PlayingPL-14. Pool AreaAttirePL-15. HorseplayPL-16. ChildrenPage 38

value added by the resort rules — pools & related recreational areas Section Eight Category DescriptionPL-17. Fitness Owner/Members and their Permittees shall exercise courtesy in use of the fitness centers, including limiting duration of useCenter and cleaning equipment after use, and shall follow all other rules that may be posted on site. Children 16 years of age and under must be accompanied by an adult when using the fitness center.PL=18. RulesApplicability Unless inconsistent with the Governing Documents (in which case the Governing Documents shall control), access to the pool, fitness center and spa, and fees for use of the spa, will be the same as for Resort Guests, except for those specific Privileges listed in the Use Agreement. All use of the pool, fitness center and spa will be subject to any supplemental rules and regulations promulgated by Resort Owner or Resort Manager for these areas. Capitalized terms in this booklet are defined in the “Sentierre Language and Terms” booklet. Page 39

Section Eight value added by the resort rules — petsCategory Description PETS (\"PT\") The conduct of all pets must not interfere with the rights and privileges of the neighbors of the pet-owning Owner/Members.PT-1. Conduct of If there are any disturbances or complaints from other Owner/Members or Resort Guests regarding an Owner/Member’s pet,Pets Resort Owner may require that such be removed from the Resort.PT-2. Pet No animals, other than dogs or cats will be allowed anywhere on the Resort (except those pets licensed to provide aid toRestrictions and which are accompanied by a disabled person), nor will any animals be kept, bred or maintained for any commercial purposes.PT-3. Number ofPets Unless otherwise approved by the Resort Owner or Resort Manager, no more than two dogs or cats per Villa, of breed and size covered by an Owner/Member’s homeowners insurance policy, may be brought onto the Resort at any time (acceptablePT-4. Areas size and weight to be determined by Resort Manager from time to time in its sole discretion). Exceptions to the size limitationRestricted to Pets will be made for pets licensed to provide aid to and which are accompanied by a disabled person. Proof of insurance may be requested.PT-5. RegistrationCard Except for those pets licensed to provide aid to and which are accompanied by a disabled person, pets are only allowed inPT-6. Licenses and such areas on the Resort as may be designated by Resort Owner from time to time, which areas may be limited in size and/Vaccinations or location. Except for those pets licensed to provide aid to and which are accompanied by a disabled person, specifically,PT-7. Leashes pets will not be allowed in any area serving food or beverages, commercial areas and most public areas (such as lobbies,PT-8. Unattended gardens, the spa area, and the pool area).PetsPT-9. Use of At the time of arrival at the Resort, a pet registration card must be signed by an Owner/Member or its Permittees arriving withOutdoor Rooms a pet.PT-10. LeashesPT-11. Unattended Pets must be properly licensed and vaccinations kept up to date. Owner/Members and their Permittees may be required toPets show evidence of same. All pets must be leashed while outside of any Villa. No pet will be left unattended outside at any time. Outdoor Rooms, including balconies and patios, will not be used as pet runs, and no pet runs may be erected anywhere within the Resort All pets must be leashed while outside of any Villa. No pet may be left unattended outside at any time.Page 40

value added by the resort rules — pets Section EightCategory DescriptionPT-12. Presence If a pet is inside a Villa, then the Owner/Member or its Permittee must be in such Villa while it is being serviced for any reasonof Owner/Member by Resort personnel, and the pet must be contained or restrained. Additionally, certain services, including restocking privatewhen Pet is in Villa bars, delivering messages, packages or mail, returning valet or laundry, refreshing amenities or bed turndown, or other ser- vices specifically contracted for by Resort Owner, will not be provided if a pet is present in the Villa while the Owner/Member or its Permittee is not present.PT-13. Limited Pet owners should not leave their pets unattended in a Villa for a period of more than four hours. If an Owner/Member orUnattended Period Permittee must leave a pet for longer than four hours, the Owner/Member or Permittee should use a pet-sitting service. If Resort staff assess a pet to be in distress, the staff may, but shall not be required to, take appropriate action to remove the pet or otherwise assist.PT-14. Clean Up and Except where specifically designated by Resort Owner, pets will not be permitted to defecate or urinate on any part of theOther Restrictions Resort. Pet owners must clean up after pets immediately on any portion of the Resort, including all access drives, sidewalks and other Resort Shared Areas.PT-15. Care Unless specifically authorized by the Resort Manager, no employee of the Resort or the Resort Manager is permitted to careRestrictions for or pet-sit any pet.PT-16. Owner All Owner/Members are responsible and liable for the actions of their pets and the pets of their Permittees, and the costs ofResponsibility repair of any damage caused by any such pet will be assessed to the Owner/Member.PT-17. Notification of Any Owner/Member and its Permittees noting litter or damage to any property caused by a pet, will report the litter or dam-Litter or Damage age, in writing, to Resort Owner, identifying the pet and the owner of the pet, or, if ownership cannot be determined, the Villa in which the pet is kept.PT-18. Nuisance No pet may create a nuisance or unreasonable disturbance or any damage to the Resort or to any personal property. Re-Restrictions sort Owner, upon determining that an Owner/Member’s pet has created a nuisance, disturbance, or caused damage to any part of the Resort or to any personal property, may levy a fine or other Assessment against such Owner/Member to repair or compensate for such damage, and may prohibit the pet from being brought into the Resort. Capitalized terms in this booklet are defined in the “Sentierre Language and Terms” booklet. Page 41

Section Eight value added by the resort rulesCategory DescriptionPARKING (\"P\")P-1. Parking Users Except as otherwise noted below, the following Rules in this Section entitled “Parking and Access” shall apply to the use of and requirements to use the designated parking areas by Owner/Members and their Permittees.P-2. Entry Gate At some point in the overall development of the Resort, access gates may be installed for the access drives to the Villas.Access Mechanism Owner/Members will be notified of such access gate construction by the Resort Owner. Upon notification, Owner/Members may request access cards or other access mechanisms (collectively, “Access Cards”) then applicable for entry through gates. For security purposes, much like hotel room keys, the Access Cards may change regularly. All Owner/Members and their Permittees must be identified in advance in order to obtain access to the Villa areas.P-3. Resort Owner Resort Owner may refuse to (i) issue to anyone Access Cards, or (ii) permit anyone to park in the parking areas, who violatesRight to Refuse these Resort Rules, and any violation of these Resort Rules may subject such Owner/Member’s or its Permittee’s car to re-Access, Cards, moval from the Resort.MechanismsP-4. Liability in Resort Owner and Resort Manager will not be liable or responsible for damage to cars due to theft, vandalism or other similarParking Areas damages to cars parked in the Resort; such responsibility is assumed by each Owner/Members and its Permittees.P-5. Lost or Misused Access cards or other access mechanisms or form of identification supplied by Resort Owner shall remain the property ofIdentification, Resort Owner. Such entry or parking identification device must be displayed if requested by Resort Owner and may not beAccess or mutilated in any manner. The serial number of the parking identification device may not be obliterated. Loss or theft of entryParking Cards or and parking identification devices must be reported immediately to the Resort Manager. Entry and parking identificationMechanisms cards or devices are not transferable. Any unauthorized transfer or use of parking access or entry card may result in cancel- lation of the card or device and forfeiture of registered user of the card’s parking privilege to park in the Resort or entry to the Villa areas. Any such device in the possession of an unauthorized holder will be confiscated. There will be a replacement charge to the Owner/Member or its Permittee to be set from time to time by the Resort Manager and approved by the Resort Committee for loss of any access card or other parking identification device. This charge is refundable in the event the lost card or device is found.P-6. Assumption of All responsibility for damage to persons or their vehicles is assumed by the Owner/Members and their Permittees.DamagesP-7. Loading and Owner/Members and their Permittees may not load or unload in areas other than those designated by Resort Owner for suchUnloading activities. No Owner/Member may permit or allow any vehicles that belong to or are controlled by them or its Permittees to be loaded, unloaded, or parked in areas other than those designed by Resort Owner for such activities.P-8. Washing and Washing, waxing, cleaning or servicing of any vehicle by an Owner/Member or its Permittees in the Resort is prohibited,Cleaning except within a closed garage.Page 42

value added by the resort rules Section EightCategory DescriptionP-9. Proper Parking All vehicles must be parked entirely within the stall lines painted on the ground of outside parking areas.PositionP-10. Wayfinding All Owner/Members and their Permittees must observe all directional signs and arrows within the Resort.P-11. Speed LimitP-12. Proper The speed limit in all areas of the Resort shall be 5 miles per hour.LicensesP-13. Restrict All motor vehicles within the Resort must be properly licensed and all drivers must have valid drivers’ licenses. DriversVehicles and Other may be required to provide Resort Manager with proof of a valid driver’s license and automobile insurance.ItemsP-14. No Parking of campers, recreational vehicles, ATVs, UTVs, trailers, mobile homes, boats, trucks with camper backs, tractorObstructions cabs and trailers, commercial vehicles, or any vehicle not capable of fitting within the parking spaces in the Resort is not allowed, except within the enclosed garage of a Villa.P-15. Parking inMarked Areas Vehicles may not be parked so as to obstruct passage, ingress or egress of other vehicles or persons on the Resort. If any vehicle is obstructing passage, the owner will be contacted. If no contact can be made or if the identity of the owner can-P-16. Street not be determined, the vehicle will be immediately towed at the owner’s expense. Resort Manager shall be held harmlessCleaning for any damage caused to such vehicle in connection with its towing.P-17. Vehicles inDisrepair All vehicles are restricted to paved surfaces marked available for parking, including the access drives, driveways and parking areas on the Resort. There will be no parking or routes of passage across any other portions of the Resort, includ-P-18. One Vehicle ing all landscape areas, lawn areas, trails, pathways and sidewalks.per Space Vehicle owners shall move their vehicles at the request of Resort Owner when necessary to facilitate street cleaning and debris removal. Any vehicle in a state of disrepair rendering it incapable of being driven in its present condition, or which does not have a current, valid vehicle license plate and license sticker, if required, or which is such that the acts of the vehicle clearly indicate it has been abandoned for more than 48 hours, may not be kept in the Resort. If any such vehicle is on the Resort, the owner will be contacted. If no contact can be made, or if the identity of the owner cannot be determined, or if the owner fails to re- move the vehicle within the time requested by the Resort Manager, the vehicle may be towed at the owner’s expense. Resort Manager shall be held harmless for any damage caused to such vehicle in connection with its towing. No more than one vehicle may be parked in each parking space at any time unless a parking attendant employed by Re- sort Owner or the Resort Manager directs otherwise. Capitalized terms in this booklet are defined in the “Sentierre Language and Terms” booklet. Page 43

Section Eight value added by the resort rulesCategory DescriptionP-19. Prohibited Parking in the following areas is prohibited, unless a parking attendant employed by Resort Owner or the Resort ManagerParking directs otherwise: (1) in areas not striped for parking; (2) in aisles; (3) where “No Parking” or “Disabled” signs are posted (unless, in the case of Disabled signs, the vehicle operator lawfully possesses and prominently displays a handicap plac-P-20. Relocation of ard or sticker); (4) on ramps; (5) in crosshatched areas; (6) in fire lanes; (7) in reserved spaces; (8) on access drives; orSpaces (9) in such other areas as may be designated by Resort Owner. Owner/Members may use parking areas within the Resort,P-21. Parking in provided, however that the parking areas may not be used for storage. The Resort Owner may adopt additional restric-Villas tions from time to time governing the use of the parking areas. Owner/Members may not park in the Resort, except withinP-22. Additional the enclosed garage of a Villa, when not in residence.Parking NeedsP-23. Violation of Resort Owner reserves the right at any time to relocate parking spaces within the Resort. In addition, Resort Owner re-Parking and Access serves the right at any time to temporarily relocate parking spaces within the Resort for reasons such as maintenance,Rules repair or special events.P-24. Towing of Owner/Members and their Permittees are limited to parking vehicles in the garage of their Villa. Long term parking in VillaVehicles driveways is prohibited. Overnight parking in driveways for a period up to 72 hours is allowed for special events, family gatherings or similar circumstances.P-25. AdditionalParking Needs In the event of unusual parking needs (for instance, if an Owner/Member is hosting a party), Owner/Members should con- tact the Resort Manager to make arrangements for additional parking. In the event of a violation of any of these Rules under the heading of “Parking and Access,” Resort Owner may take any and all of the following actions: (i) record, to the extent possible, the vehicle identification, including make, model, license number, vehicle sticker, date of violation, type of violation and vehicle owner, if known, on a permanent record of violations, (ii) identify or attempt to identify the Owner/Member whose vehicle is causing the violation or whose Permittee is caus- ing the violation, (iii) identify or attempt to identify the vehicle owner, if not an Owner/Member, and notify that owner of the violations, (iv) notify the local governmental authorities, asking that they issue a citation and remove the vehicle, (v) prevent future access to Owner/Members, or (vi) other actions as outlined in the Project Documents. If anyone engages in any of the prohibited activities described in this Section of the Resort Rules, then Resort Owner shall have the right, without notice, in addition to such other rights and remedies that it may have, to remove or tow away the vehicle involved and charge the cost to such person, which cost shall be immediately payable upon demand by Resort Owner. In the event of unusual parking needs (for instance, if an Owner/Member is hosting a party), Owner/Members should con- tact the Resort Manager to make arrangements for additional parking.Page 44 Capitalized terms in this booklet are defined in the “Sentierre Language and Terms” booklet.

value added by the resort rules Section Eight Page 45

Section Eight value added by the resort rulesCategory DescriptionUSE OF VILLAS (\"V\")V-1. Office Use Except as otherwise provided in the Declaration, no Owner/Member or its Permittees may use his or her Villa as an office or for any commercial activity.V-2. Locked EntryDoors All exterior doors to the Villas shall be left locked and all windows, patios, skylights, dog doors or other exterior opening,V-3. Payment of shall be left closed whenever an Owner/Member or Permittee is not in residence in such Owner/Member’s Villa.Charges Each Owner/Member shall be responsible for the prompt payment of personal charges and/or damages that may be in-V-4. Prior curred by such Owner/Member or its Permittees and are due and owing to the Resort Owner. Such charges are indepen-Notification of dent of and in addition to Assessments. Non-payment of such charges will result in suspension of use privileges.Guests andOccupants The Owner/Member must notify the Resort Manager within 24 hours of arrival of persons staying in the Villa. This notifica- tion should not only include the names of each person, but also the phone number, email address and the number of vehi-V-5. A La Carte cles used by such persons. Any Owner/Member, Occupant, guest or other occupant of a Villa must check-in at the ResortServices lobby upon initial arrival at the Resort and to produce a valid credit card to cover incidental charges incurred through the Resort (including charges for A la Carte Services). There will be no exceptions to this policy without the express approvalV-6. Use as Private of the Resort Owner.DwellingsV-7. Occupancy Certain of the A la Carte Services (as determined by Resort Manager) may only be made available to an Owner/Member orLimits its Permittees during their stay provided that advance notice has been provided to the Resort Manager in accordance with the Resort Manager’s then prevailing operating policies.V-8. Balconies andPatio/Furniture Villas may be occupied and used only by their respective Owner/Members and their Permittees as private dwellings andV-9. Maintenance for no other purpose.of Balconies andPatios Villas containing two bedrooms may not be regularly occupied by more than six (6) persons. Villas containing three bed- rooms may not be regularly occupied by more than ten (10) persons. Villas containing four bedrooms may not be regularly occupied by more than twelve (12) persons. Villas containing five bedrooms may not be regularly occupied by more than fifteen (15) persons. As used in this Rule, “regularly occupied” means occupancy for a period in excess of two (2) days consecutively, or a total of more than ten (10) days in any one calendar year. The only items allowed on balconies and patios overnight are outdoor chairs, tables or other patio furniture that have been approved by Resort Owner. It is the responsibility of each Owner/Member to keep maintain and clear the surfaces of the balconies, outdoor rooms and patios related to its Villa free from clutter, debris and all other items. The Resort Owner will have easements in, over and through the Villas to gain access to these areas as necessary to satisfy its maintenance obligations under the Declaration. Owner/Members are prohibited from contracting with any company or person, not acceptable to Resort Manager, to per- form the services set forth in this Rule.Page 46 Capitalized terms in this booklet are defined in the “Sentierre Language and Terms” booklet.

value added by the resort rules Section Eight Category DescriptionV-10. Balcony and No sunshade awnings or similar devices may be used on any patio or balcony contiguous or related to a Villa unless ap-Patio Clutter proved in advance by the Resort Owner. Draping of any articles (including towels, swimsuits, etc.) on railing, furniture or window ledges is not permitted.V-11. ProhibitedActivities Cigarette butts, trash or other material may not be thrown from any patio, balcony or window. Resort Owner reserves the right to remove anything that it determines creates an unsightly appearance or hazard. No fire rings or other outdoor fires are permitted on any patio or balcony, except in areas designed to provide for barbecuing. Page 47

Section Eight value added by the resort rulesCategory DescriptionRENTAL OF VILLAS (\"R\")R-1. Nightly Rental As further described in the Declaration, nightly rental of Villas is prohibited, except with the prior written consent of theRestrictions Resort Owner. No Villa may be rented without Resort Owner’s prior written consent for a period of less than 30 days. If the Resort Owner elects to permit nightly rentals, the Resort Owner may put a limit on the number of Villas that may be rentedR-2. Rental Agents on a nightly basis, and such limit may be modified from time to time in Resort Owner’s sole discretion. In the event any nightly rentals are permitted and demand from Owner/Members to rent their Villas on a nightly basis exceeds the numberR-3. Rental Rules of Villas permitted by the Resort Owner, priority for consent from the Resort Owner for such nightly rentals will be deter- mined by The Order. In the event an Owner/Member elects to use a rental agent other than Resort Manager as his or her rental agent, the terms and conditions governing the rental of such Owner/Member’s Villa and the agency relationship between the rental agent and such Owner/Member shall be set forth in a rental agreement among such rental agent, Resort Manager, Resort Owner and such Owner/Member in order to effectively coordinate the activities of the rental agent with the activities of the Resort Manager. Owner/Members renting their Villas “by owner” or similar method that does not involve a rental manager having a Utah real estate broker’s license, or using a licensed rental manager other than Resort Manager, shall comply with the following pro- visions, to the extent permitted by applicable law, which provisions shall not be amended or terminated without the consent of Resort Owner: (a) The Owner/Member must give at least 10 days’ prior notice to the Resort Manager of such Owner/Member’s inten- tion to rent by delivering to the Resort Manager a completed rental notice signed by the Owner/Member and in the form prescribed by the Resort Manager. In addition to any other information which the Resort Manager may require, the rental notice shall set forth the name, home address, e-mail address and telephone number of the proposed rental guest, the dates for check-in and check-out for the Occupant and the identity of any third party rental agent. The Resort Manager is specifically authorized to deny the check-in of any person whose information has not been furnished to Resort Manag- er in accordance with this Rule. (b) All rental agreements must be in writing. All rental agreements must be in conformance with, and make specific reference to, the Governing Documents. Each Owner/Member is ultimately responsible for its Permittees abiding by all provisions and restrictions imposed by the Governing Documents, whether or not such Owner/Member resides in the Villa. If an Occupant violates these Resort Rules or any other of the Governing Documents, the Owner/Member will also be held responsible as set forth herein. (c) The Owner/Member must not discriminate on the basis of age, race, color, religion, creed, national origin, gender, ancestry or marital status. (d) If the term of any rental is longer than 30 days, then the following Rules shall apply (in addition to the other Rules):Page 48 Capitalized terms in this booklet are defined in the “Sentierre Language and Terms” booklet.

Category value added by the resort rules Section EightR-4. Fines DescriptionR-5. Remedies (1) All Occupants must be given a copy of the Governing Documents. Occupants should be informed that this infor- mation is being provided to them because they are obligated to obey the provisions of the documents. (2) The Owner/Member shall collect a security deposit from the Occupant sufficient to cover lost rent and/or damage, as well as the first month’s rent. (3) The Owner/Member must check out all previous landlords and credit references and verify information such as addresses, dates, etc. (4) The Owner/Member must determine whether applicant’s income is sufficient to pay rent without imposing a finan- cial burden on that applicant, taking into consideration the applicant’s existing debt obligations such as other month- ly payments, and considering what savings, reserves or other resources are available to the applicant in case of a financial setback. (5) The Owner/Member is encouraged to meet and interview personally each applicant (6) All rental agreements must include provisions requiring the Occupant to obey the Governing Documents, includ- ing the payment of any fines for rule violations. (7) The Owner/Member shall ensure the Occupant has the following: (i) Resort emergency numbers, and (ii) Resort Manager’s addresses and telephone numbers. Any violations by any Permittee of the Governing Documents may result in a flat or daily fine. All fines, costs and attorney’s fees will be charged to the Owner/Member. Resort Owner reserves the right to prohibit anyone from occupying a Villa until the Owner/Member complies with, and to enforce, all rental requirements. Resort Owner further reserves the right, pursuant to the Use Agreement, to pro- hibit the use of the Resort Amenities by an Owner/Member and its Permittees for up to six (6) months if such Owner/ Member fails to comply with the provisions of Rules R-1 through R-3 and related subsections. Page 49

Section Eight value added by the resort rulesCategory DescriptionALTERATION OF VILLAS & RESIDENCES (\"A\")A-1. Work in Villas All work performed in a Villa by or at the request of an Owner/Member must be in accordance with the Declaration and theseGenerally Resort Rules. To the extent that such work is not prohibited under the Declaration, prior to commencement of work, an Own- er/Member shall have complied with the following:A-2. GovernmentalRequirements (a) Submit plans for remodeling or construction in writing accompanied by drawings, to the Resort Owner and the ResortA-3. ID Cards Committee, pay any review fees charged by the Resort Committee, and obtain the approval of the Resort Committee.A-4. Work Scheduleand Clean Up (b) Provide a deposit one week in advance of the project start date, in the amount determined by the Resort Owner. The deposit will be returned 30 days after the work has been completed if no damages to person or property have occurred;A-5. Contractor if the Resort Owner determines that there are damages to person or property, the deposit will be returned only after aCheck-In settlement has been made for any such damages caused during the remodeling or construction.A-6. SmokeDetectors (c) Ensure that the contractor has provided a certificate of insurance for required coverage, including general liability andA-7. Availability of workers compensation. In the absence of proof of said insurance, the Owner/Member accepts full financial responsibilitySpace for any damages in or to any portion of the Resort, or injuries to workers which may occur as a result of any alterations. (d) Provide the contractor with a copy of these rules. All work will be performed in accordance with the requirements of applicable city and county codes, and the contractor shall secure applicable building permits, as required by law. Work badges or identification cards may be issued for admittance to the Resort unless the requirements set forth above have been met. Badges lost or not returned will result in an additional charge of at least $50 each. Work may be performed only during the hours from 8:00 a.m. to 5:00 p.m. on weekdays. No work shall be performed on Saturday, Sunday or Holidays without approval of the Resort Committee and the Resort Owner. The Owner/Member will be responsible for ensuring that all contractors, subcontractors and workers keep the Resort clean. Drop cloths or plywood shall be used to prevent soiling or damaging of the property. Litter, lunch refuse, and all waste shall be removed by the con- tractor daily. Spray painting with oil base or lacquer paint is prohibited. Masking off all doors, HVAC venting, and plumbing is required of the contractor. If building personnel or others they hire for such purpose are required to clean the property as a result of work described herein, the Owner/Member will be charged at a minimum of $30 per hour per person. Contractors shall check in daily with the Resort Manager to report anticipated unusual or noisy work that will by going on that day (for example, any work that may set the smoke alarm off, such as sanding or welding). Smoke detectors, battery or otherwise, shall not be disconnected except by building personnel. Detectors shall be masked off by the contractor for painting and sanding. There is no space anywhere on the Resort (other than within the villa) available for use by any contractor, subcontractors or workers.Page 50 Capitalized terms in this booklet are defined in the “Sentierre Language and Terms” booklet.