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STATE OF ARIZONA

DEPARTMENT OF REAL ESTATE


2910 NORTH 44 TH STREET, SUITE 100 PHOENIX, ARIZONA 85018 TELEPHONE (602) 468-1414 FACSIMILE (602) 468-0562

JANET A. NAPOLITANO GOVERNOR ELAINE RICHARDSON COMMISSIONER

An Equal Employment Opportunity Agency

400 NORTH CONGRESS, SUITE 523 TUCSON, ARIZONA 85701 TELEPHONE (520) 628-6940 FACSIMILE (520) 628-6941

Date: July 14, 2006 GOLD MOUNTAIN NORTH, LLC 5 RED FAWN COURT HENDERSON, AZ 89074

Re:

EXPEDITED REGISTRATION PROGRAM CERTIFICATE OF ADMINISTRATIVE COMPLETENESS (Unsubdivided Lands) Subdivision: GOLD MOUNTAIN RANCH Registration No. DM06-052353

This letter is to acknowledge receipt of your application for a public report dated July 14, 2006 and to certify it as administratively complete in accordance with the provisions of A.R.S. 32-2195.03(B). The date of this letter is the effective date of your public report. Please place the effective date and registration number provided above on each public report. You are authorized to sell the following described property: GOLD MOUNTAIN RANCH Your application and public report have not been subjected to a detailed examination by the Department. Acceptance of this material as meeting all requirements is based solely on your affirmation that the material submitted is full, true, complete and accurate. In the event that a subsequent examination reveals any omission, inaccuracy, misrepresentation, fraudulent statement or failure to comply with statutory standards for unsubdivided lands, the Department may suspend further sales, order rescission offers for completed sales, and you or the development may be subject to administrative enforcement action and penalties or sanctions. If a change occurs in any of the information or representations provided in the application or public report, an amendment to the application and public report must be filed with appropriate fees before making further sales. Any use of an inaccurate public report in making sales may require you to rescind such sales and may result in administrative penalties and sanctions. As a reminder, a receipt for the public report must be obtained from each purchaser and retained by you for five years. Enclosed is a copy of the Departments published receipt form, which must be used. Sincerely

Elaine Richardson Commissioner enclosure