Legacy Golf Course Update IV

During the course of the trial in the case of the Grand Legacy Community Association, the Master Series At the Legacy Community Association, and Green Valley Village Community Association vs. Par Excellence Drive LLC et al (Case No. A-17-758813-B) in Clark County, Nevada, the parties reached a conceptual settlement designed to conclude the litigation and protect the interests of the communities and their residents. The stipulation includes a provision under which the Legacy Golf Course shall be maintained as a golf course in keeping with the Deed Restriction, running through the year 2038, which had been the primary focus of the communities’ litigation. Further detail on the agreement will be communicated by the respective boards.