NOTICE OF LIENS AND INTENT TO FORECLOSE AND SALE BY PUBLIC AUCTION

NOTICE IS HEREBY GIVEN, this 26th day of April, 2006, pursuant to Section 667-5 H.R.S., the Declaration of Covenants, Conditions and Restrictions for Vacation Plan Ownership within the Kahana Villa Vacation Club and the By-Laws attached thereto filed for the record in the Office of the Assistant Registrar of the Land Court of the State of Hawaii (herein the “Land Court”) as Document No. 91-171901 (herein collectively the “Declaration”), that the Kahana Villa Vacation Club (herein the “Vacation Club”) has a secured lien, in the nature of a mortgage with private power of sale, on the units listed on Exhibit A attached hereto, that the amounts listed on Exhibit A are due and owing (after the allowance of any proper offsets), that a lien is claimed and will be foreclosed against each of such units in an amount equal to the net amount of the stated delinquency for each unit plus any accrued interest and the costs of enforcement, including, but not limited to attorneys’ fees.

VPCDNO. NO. OF UNIT
Name LIBER/PAGE UNIT NO. ICN NO. WEEKS TYPE

HATCH, CAROLE L 94-094641 F106 39AB 1 PALM
HATCH, REX L

BEASLEY, DANNY P 95-139875 E112 27A 0.5 HALA
BEASLEY, DEBBIE E

FANG, LANCE K 97-109526 E311 43B 0.5 PALM
LEE, HOUA

DAVIS, MALCOLM J 97-154837 E314 4B 0.5 PALM
DAVIS, CARMA L

DONOFRIO, DOROTHY J 99-073858 E306 40AB 1 PALM

CALIS, JIMI B 2001-198978 E606 32AB 1 PALM

BYRNES, JEFFERY C 2005-117770 E305 8B 0.5 PALM
BYRNES, TAMARA F

Each of the units to be foreclosed on is a timeshare interest in the Kahana Villa Vacation Club, located at 4242 Lower Honoapiilani Highway, Lahaina, Maui, Hawaii (herein the “Project”), consisting of: (a) an undivided interest in the listed apartment unit, together with an undivided interest in the common elements (exclusive of the land) of the Project; (b) the exclusive right to each use year to occupy and use weeks set forth; and (c) an undivided sublease interest in the land upon which the Project is situated, as more particularly described in the Declaration and respective Vacation Plan Conveyance Documents.
At a foreclosure sale, each unit shall be sold separately, in an “AS IS” condition, with no upset price to the highest bidder with not less than one hundred percent (100%) of the highest bid price payable as a non-refundable deposit in cash (U.S.) or cashier’s check at the close of the auction. Purchaser shall pay all costs of conveyance, including any title insurance and escrow possession, and notary and recording fees. Any foreclosure sale is subject to postponement and/or cancellation for any reason, before or after commencement of bidding, at the Vacation Club’s sole discretion.
Said liens will be foreclosed upon by the Vacation Club at public auction located at 10 Ho’Ohui Road, Suite 108, Lahaina, HI 96761 at 2:00 o’clock pm on June 1, 2006. After a foreclosure sale by public auction has been duly completed, the Vacation Club shall file for the record with the Land Court an Affidavit of Exercise of Power of Sale pursuant to the Declaration and Hawaii Revised Statutes 667-5. Title to the units sold at the foreclosure sale shall thereafter be conveyed to the respective purchasers by Assignments of Vacation Plan Conveyance Documents executed by the Vacation Club as “Assignor” (pursuant to the power of sale provisions of the Declaration), and the relevant purchaser as “Assignee”.

DATED: April 26, 2006 in Las Vegas, Nevada

Kahana Villa Vacation Club

By ______________________________
Richard L. Rodriguez
It’s President (SB05522623 4/27, 5/4, 5/11/06)