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 Hono Koa 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 Liber 21560, Page 503. (herein collectively the “Declaration”), that the Hono Koa 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

BOTTONE, MICHAEL A Book 22139 205 10AB 1 PALM
BOTTONE, SOPHIE A Page 638

ROBINSON, NORMAN E Book 23458 301 28AB 3 KOA
ROBINSON, CAROLYN O Page 369 29AB
30AB

RANDALL III, JOHN E 95-109467 203 51AB 1 HALA
RANDALL, DEBRA M

HARRIS, EDWARD B Book 22350 204 15AB 1 HALA
HARRIS, ROENITA Page 090

ARENAS JR, HECTOR 91-165651 306 40B 0.5 PALM
PINA, MARGIE M

MOSKA, BERNARD J 96-010660 102 27A 0.5 HALA
MOSKA, BRENDA

HAFFNER, JACK L 95-117834 104 37B 0.5 HALA
HAFFNER, ROBERTA I
BRIGHT, RYANNE R

Each of the units to be foreclosed on is a timeshare interest in the Hono Koa Vacation Club, located at 3801 Lower Honoapiilani Highway, Lahaina, 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 1st, 2006. After a foreclosure sale by public auction has been duly completed, the Vacation Club shall file for the record with the Land Court and 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

Hono Koa Vacation Club

By ______________________________
Richard L. Rodriguez
It’s President (SB05522620 4/28, 5/4, 5/11/06)