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Here is the latest letter content sent to delinquent Manhattan Club owners. Note that foreclosure will be undertaken if the delinquent members opt not to take advantage of the other options to get relief Manhattan Club Offer Letter to Delinquent Members ' We believe it is important for the financial health of The Manhattan Club Timeshare Association (the "TSA") to address those Owners who are or have become delinquent in the payment of Timeshare Charges and/or Real Estate Taxes (the "Charges"). We are pleased to now offer options to delinquent Owners who would like to relinquish their Manhattan Club Ownership or return as an Owner in good standing.. OPTION ONE (1) – RELINQUISH OWNERSHIP To execute this choice, an Owner would deed their interval to Bluegreen Vacations Unlimited Inc. ("Bluegreen") with whom the TSA has a relationship. Bluegreen, once it has acquired your interval, would begin making scheduled payments of the Charges to the TSA. If you were to agree to such a deeding, we would provide you with documents (which of course can be reviewed by an attorney, if so desired) for your execution. When we receive the documents back from you (a) we will send you a settlement check for the amount of $100.00 and (b) you will then be relieved of all existing and future financial obligations owed by you to the TSA and former Sponsor under your mortgage, if applicable, preventing a foreclosure lawsuit being filed against you. Moreover, your deeding of your interval to Bluegreen will have no impact on your receipt of restitution payments, if applicable. We are pleased to be able to offer this once again as some Owners have requested it. OPTION TWO (2) RETURN TO OWNER IN GOOD STANDING STATUS Alternatively, option two (2) allows you to remain an Owner at The Manhattan Club. As an Owner in good standing, you will be able to utilize and enjoy the amenities and services offered at the Club. After selecting option two (2), you will then be contacted by a Financial Services Representative to discuss how to return to an Owner in good standing status. NEITHER OPTION In the absence of deeding your property to Bluegreen or paying your delinquent amounts, we have no choice except to resume the process whereby the TSA’s lawyers will commence a foreclosure lawsuit due to your delinquent Charges. We are sure that you have reasons for not keeping up with your financial obligations at The Manhattan Club, and, as fellow Owners, we are distressed that we find ourselves, as Members of the Board of Directors, in the position of having to recommend moving forward with a foreclosure. However, other Owners are bearing the burden of your delinquency by paying for your share of Charges. As Owner representatives, we are obligated to do our best for the overall health of the TSA and its constituent membership. We are grateful we have found options to avoid a foreclosure lawsuit being filed against you with all of the related negative consequences to your credit standing. Please respond to this email within seven (7) days to resolve this matter by selecting Option 1 or 2. Sincerely,'