This is not intended to be an offer to sell, or solicitation of an offer to buy, townhomes to residents of CT, ID, NY, NJ and OR, unless registered or exemptions are available, or in any other jurisdiction where prohibited by law, and your eligibility for purchase will depend upon your state of residency. This offering is made only by the Purchase and Sale Agreement and accompanying Declaration of Covenants and Restrictions and no statement should be relied upon if not made in those documents. Any sketches, renderings, photographs depicting lifestyle, or Townhome finishes, or design finishes, graphic materials, plans, specifications, terms, conditions and statements contained in this brochure are proposed only, and the Developer reserves the right to modify, revise or withdraw any or all of same in its sole discretion and without prior notice. Consult your Purchase Agreement and the Declaration of Covenants and Restrictions for the items included with the townhomes.

Dimensions and square footage are approximate and may vary depending on how measured and with actual construction. Also, locations and layouts may vary from actual construction. All depictions of appliances, counters, soffits, floor coverings and other matters of detail, including, without limitation, items of finish and decoration, are conceptual and are not necessarily included in each Townhome. All improvements, designs and construction are subject to first obtaining the appropriate federal, state and local permits and approvals for same. The photographs contained in this brochure may be stock photography or may have been taken off-site and are used to depict the spirit of the lifestyles and ambiance to be achieved rather than any lifestyle that may exist or that may be proposed. The views depicted are intended to evoke the feeling of urban lifestyles and are not intended to depict the actual views from any Townhome. All photographs are merely intended as illustrations of the activities and concepts depicted therein and not depictions of the actual townhomes nor actual views nor actual Townhome owners and guests. The prospectus is not a securities offering. No statements or representations have been made by Developer, or any of its agents, employees or representatives with respect to any potential for future profit, any future appreciation in value, investment opportunity potential, any rental income potential, the ability or willingness of Developer or its affiliates to assist Buyer in financing, renting (other than the existence of a voluntary rental program) or selling the Townhome, the economic or tax benefits to be derived from the managerial efforts of any third party as a result of renting the Townhome or other Townhomes, or the economic or tax benefits to be derived from ownership of the Townhome.

No real estate broker or sales agent (whether engaged by Developer or not) is authorized to make any representations or other statements ( verbal or written) regarding the project, and no agreements with, deposits paid to, or other arrangements made with, any real estate broker or agents are binding on the Developer. Unauthorized reproduction, display or other dissemination of such materials is strictly prohibited and constitutes copyright infringement.