June 6, 2007

Dear Members:

Welcome to our first quarterly update!   I would like to begin by welcoming all of our new members to the Las Sendas Golf Course and to also say hello to all of our Charter Members.

I am extremely excited that we are adding new members to the golf course and hope that the membership program I am offering appeals to many more of the Las Sendas residents before the July 15th deadline arrives.  The staff and I have been working diligently to attract new members and we will do another mailing to the Las Sendas residents in late June.  In addition, the golf course staff will contact everyone who has expressed interest these last few months, before the current membership offer expires.

Beginning in August, we will ramp up a local and national campaign (including Canada) in an effort to complete additional membership sales.  I am also in the process of site planning twenty acres within the Las Sendas Community for 180 Luxury Villas.  These Luxury Villas are tentatively scheduled to be completed in calendar year 2009.  In the event there are remaining memberships for sale, I plan to offer the remaining memberships to the purchasers of the Luxury Villas.  So, as you can see, we have several plans we are working on in an effort to make the membership program successful.

What does this mean for all of our members?  Well, as many of you are aware, I have spent a tremendous amount of capital these past twenty-four months in an effort to bring Las Sendas back to the condition it was when we first opened in 1995.  Those efforts include replacing all of the pumps in both pump stations (including all the electrical and computer systems), adding the tent and patio area to the Grille/Clubhouse, replacing all of the greenside bunkers, repairing the cart paths, upgrading the GPS System, upgrading the computer system, upgrading the audio/visual systems and replacing the entire fleet of golf carts.  We also hired a new superintendent, Frank Saylor, who has not only brought our course back into shape but continues to update tee boxes and fairways with special touches.

The best part is that we are not finished!  You probably know that this summer we are going to replace all of our bent grass greens.  This effort will begin in July and is scheduled to be completed the first week of August.  At the same time we are going to reconfigure our putting greens in an effort to add a chipping green with bunkers and add additional targets and mounds to our driving range. We are also going to add a restroom/snack bar to the course between holes 2, 13 and 14 sometime this year.  Our design plans have been submitted to the City of Mesa and we are awaiting comments.  Hopefully those plans will be approved and we can begin construction in the next few months.

 We hope that you enjoy our new member section of the website and ask that you send us comments on things you would like to see added or changed.  We will be asking everyone to come into the golf course over the next few months (with your family) so that we can take a photograph and create your new membership cards.  We are ordering new equipment to create the cards and ordering equipment that will allow you to use the cards as a “member credit card” at the golf course.  In effect, you will be able to pay for all purchases, guest fees, etc., with your member card.  Your monthly purchases will then be totaled and itemized for your review (we are working on creating a monthly e-mail of your account status) and then debited from the account or credit card of your choosing.

I will be mailing each of you your membership letter the third week of July, which will outline your personal membership terms.  Please keep this letter for your records, as it will serve as your documentation of your membership along with your copy of our course rules and member application.

Again, I am very excited that you have become a part of the Las Sendas family and look forward to many years of golf and friendship. Our goal is to make the Las Sendas Golf Course the best golf course possible and make our membership program the envy of every golf course membership program.

Welcome to the Las Sendas Golf Course!

 J. Chris Arnold

Owner
 

About J. Chris Arnold
Since 1994, Chris has been the principal in several real estate entities involved in the purchase, development, construction and/or financing of real estate ventures with values in the hundreds of millions of dollars. In addition to his real estate ventures, he has owned companies involved in the entertainment industry, the sports management industry and the trucking industry.

Chris received his Bachelor’s Degree in Accounting from the University of Southern Mississippi, his Master’s Degree in Finance from Grand Canyon University and obtained his CPA certificate from the State of Arizona. He also spent three years in the United States Army as an air traffic controller.

During the past seven years, Chris has volunteered his time as a Board Member of the Northeast Association of Pop Warner, as the President of the Northeast Association of Pop Warner and has been the head coach for both of his son’s Pop Warner football teams. Chris has been married seventeen years to his wife Stacey and they have two sons, Christopher and Alexander.

1994 to present CEO, CFO, Managing Member United Companies, Inc., UCI Realty, LLC, UCI Financial, LLC, UCI Capital, LLC, Arwood Development, LLC, CNS Enterprises, Inc., Ship’s Ahoy, Inc., Next Level Enterprises, LLC, United Administration, Inc., CRM Holdings, LLC, United Development, Inc., United Marketing & Investments, Inc., United Land Investors, Inc., Black Diamond Trucking, LLC, Las Sendas Golf Course, National Sports Management, Inc., Castelain Development, LLC, ComCap Realty, LLC, Eagle Capital, LLC,