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Re: Bel Air Vacation Club (by Lester W.):

Here is Bel Air's "Detailed" report:

Dear Members, As most of you are aware, we made the difficult decision to implement a Special Assessment fee from our Bel Air Owners Circle. A letter announcing the Assessment was sent out along with individual billing statements for each account. The letter stated that as a result of an extraordinarily challenging 2018-19 season, the Board of Directors approved the collection of the Special Assessment to cover the operating shortfall at Reflect Nuevo Vallarta and Los Cabos. Most of you have already paid your regular maintenance fee as well as your Special Assessment, and we thank you for your prompt response.

However, for those who may still have some doubts or questions about the Special Assessment, we offer the clarifications, below.

BE SURE TO PAY YOUR MAINTENANCE FEE AND SPECIAL ASSESSMENT PROMPTLY to avoid any problems with making reservations or exchanging your week.

The billing of the Special Assessment was in compliance with Clause #9C of the Club Rules and Regulations, as follows:

Each owner of Timeshare Interval shall be responsible for his proportionate share (based on 1/52 per use period owned) for the following costs and expenses:

1. all labor (direct and contract) and related costs (benefits and taxes),

2. basic telephone charges and the cost of utility services,

3. recreational privileges and other services;

4. costs of ordinary repairs and maintenance of the apartments and acquisition, repair, replacement of furniture for the apartments;

5. premiums for liability insurance, real property taxes, and any other tax that results in the increase of cost of operating the project including but not limited to business taxes, licenses, permits, asset taxes, occupancy taxes, IVA, and other transfer or applicable sales taxes, and insurance premium for fire insurance and extended coverage insurance;

6. Any other costs and expenses elsewhere herein provided to be paid, including the managing agents compensation (annual management fee).

➢ All such Shared Expenses shall be computed and assessed the owners through Annual Assessments to be paid by each owner to the Managing agent not later than January 1st of each calendar year.

➢ Any annual assessment that is not paid when due, will automatically be deemed to include a twenty-five percent (25%) penalty.

➢ The annual assessments and any penalties must be paid prior to the use by a Timeshare Interval Owner of his apartment during his use period.

➢ Each owner hereby agrees and convents to promptly pay to the Managing Agent. Additionally, pursuant to Article #4, Management of the Project, clause #1 Management of Operations: The project shall be under the exclusive direction and control of the Managing Agent.

The powers of the managing agent shall include, but not be limited to, to the following;

(d) To obtain and pay the cost of legal and accounting services necessary or proper for the maintenance and operation of the project and the enforcement of this Declaration and the Rules and Regulations: In the event any Time Share Interval Owner shall fail to comply with any of the provisions of this Declaration or of the Rules and Regulations, the Managing Agent may bring an action for damages or to enjoin the violation or specifically enforce the provisions of this Declaration or to enforce the contractual lien or lien provided herein, including the foreclosure of any such lien and the taking of possession of the Time Share Interval of any Owner.

(e) To collect, in advance of disbursement, from each Time Share Interval Owner the Shared expenses (as defined above) and any other amounts properly expended by the Managing Agent, to bill the Time share Interval owners accordingly, and to take the proper steps to enforce any Time Share Interval owners obligations hereunder.

Among the many future upgrades planned the following: Nuevo Vallarta 1.Furtiniture was replaced, sofa, dining tables, beds, night stand, coffee tables. 2. kitchen utensils 3. floor was removed and replaced 4. bathroom mirrors, 5. bathroom faucets 6. curtains 7. wooded rails on terrace doors 8.Construction of new pool 9.Improved /expanded kids club 10.New gym equipment 11.New beach chairs 12.New beach umbrellas 13.New pool chairs 14. New TV's (still need to complete all units)

Los Cabos 1.Furtiniture was replaced, sofa, dining tables, beds, night stand, coffee tables. (still working on will complete by 2020) 2. kitchen utensils (still working on will complete by 2020) 3. floor was removed and replaced (still working on will complete by 2020) 4. bathroom mirrors, (replaced in some units) 5. bathroom faucets 6. curtains (still working on will complete by 2020) 7. wooded rails on terrace doors (still working on will complete by 2020) 8.Construction of new pool 9.New kids club (there was no kids club before) 10.New gym (there was no gym before) 11.New beach chairs 12.New beach umbrellas 13.New pool chairs 14. New Spa (there was no spa before) 15. new restaurants (more variety of menu)