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Re: Manhattan Club Lawsuit (by Beth C.):

Here are a few paragraphs of the Assurance.

Under Prospective Relief of the Assurance, Paragraph 62. "Respondents shall enter into an agreement with the third-party operator of timeshare properties ("TMC Purchaser") previously identified to the OAG on or about July 28, 2017, or to such other third party purchaser approved by the OAG to own and sell timeshare interests in New York, whereby (i) T. Park and O. Park shall enter into an agreement with a third-party to transfer timeshare interests from existing owners to TMC Purchaser, all their timeshare interests in The Manhattan Club, and (ii) after three years of management, Urban will transfer to TMC Purchaser or it assignee the Management Agreement (the "TMC transfer").

Paragraph 77. "this Assurance may be recorded with the NYC Registrar against the timeshare interests as this Assurance affects the property and all subsequent purchasers should be placed on notice of the requirements of this Assurance."

Paragraph #63. "All Sponsor-appointed current officers and directors will resign from their positions as members of the Board of the Timeshare Association at the time of the first transfer of interests to TMC Purchaser, and TMC Purchaser will appoint replacement officers and directors."

Paragraph 64. b). "TMC Sponsors "shall seek to sell their Remaining Interests to a third party..." Under d) "Sponsors shall be free to appoint board members to the Timeshare Association Board to replace any members appointed by TMC Purchaser who resign as a result of the Default; The Sponsor appointed board members shall recuse themselves from any and all votes involving in any way any of the Respondents or affiliated entities."

Paragraph #74. "The Respondents represent and warrant, through the signatures below, that the terms and conditions of this Assurance are duly approved, and execution of this Assurance is duly authorized. The Respondents shall not take any action or make any statement denying, directly or indirectly, the propriety of this Assurance or expressing the view that this Assurance is without factual basis. Nothing in this paragraph affects the Respondents' (i) testimonial obligations or (ii) right to take legal or factual positions contrary to the terms of this document in defense of litigation or other legal proceedings, to which OAG is not a party. This Assurance may not be used by any third party in any other proceeding and is not intended, and shall not be construed, as an admission of liability by the Respondents in any other proceeding." To me, this means this Assurance cannot be used as evidence in another trial, but the Respondents cannot deny the violations they've admitted to in this Assurance should others seek a lawsuit.