DRUSC - Diamond Resorts US Collection fka CSV-1 The 'TRUST'

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The CSV Trust is a points based vacation trust currently comprised
of the following 19 premier resort properties:

- Bent Creek Golf Village - TN
- Cypress Pointe Resort II - FL
- Daytona Beach Regency - FL
- Desert Paradise Resort - NV
- Flamingo Beach Resort - St. Maarten
- Grand Beach Resort- FL
- Island Links Resort - SC
- Greensprings Plantation - VA
- London Bridge Resort - AZ
- Plantation at Fall Creek - MO
- Powhatan Plantation - VA
- Ridge on Sedona - AZ
- Royal Palm Beach - St. Maarten
- Scottsdale Links Resort - AZ
- Scottsdale Villa Mirage - AZ
- Sedona Summit Resort - AZ
- Villas de Santa Fe - NM
- San Luis Bay Inn - CA
- Lake Tahoe - CA

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The TRUST continued

• Club Sunterra Vacations is a membership in perpetuity.
• Home Club Advantage (HCA) only applies to you, as a member of CSV, to use your annual CSV allotment to book into any of the resorts listed above 13 months prior to your check-out date.
• You will have a 10-month reservation window at all other Club Sunterra
affiliated locations.
• CSV Members do not receive a deed, as all inventory deeds are held in trust by a trustee. The trustee issues a Vacation Ownership Policy and Membership Certificate to each points owner of the CSV Club.
• CSV members are not members of individual site homeowners associations,
but are members of Club Sunterra Vacations Members Association.
• CSV Members receive SunOptions and may use them at nearly 100 Club Sunterra affiliated resorts without an additional exchange fee.
• CSV Members may exchange SunOptions with Interval International for an
exchange fee.

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CLUB SUNTERRA VACATIONS from Sunterra

CLUB SUNTERRA VACATIONS
Sunterra began selling a new points-based vacation club, “Club Sunterra Vacations” in March 2004 in St. Maarten, and rolled the product out across the country during that same year. Club Sunterra Vacations contains individual units and/or intervals from 19 different resorts.
The 19 resorts currently in CSV are:
1. Bent Creek Golf Village – Gatlinburg, Tennessee
2. Cypress Pointe Resort Phase II – Orlando, Florida
3. Daytona Beach Regency – Daytona Beach, Florida
4. Desert Paradise Resort – Las Vegas, Nevada
5. Embassy Vacation Resort® Grand Beach – Orlando, Florida
6. Embassy Vacation Resort® Lake Tahoe – Lake Tahoe, California
7. Flamingo Beach Resort – St. Maarten
8. Greensprings Plantation – Williamsburg, Virginia
9. Island Links Resort – Hilton Head, South Carolina
10. London Bridge Resort – Lake Havasu, Arizona
11. Palm Springs Marquis Villas – Palms Springs, California
12. Plantation at Fall Creek – Branson, Missouri
13. Powhatan Plantation – Williamsburg, Virginia
14. The Ridge on Sedona Golf Resort – Sedona, Arizona
15. Royal Palm Beach Resort – St. Maarten
16. Scottsdale Links Resort – Scottsdale, Arizona
17. Scottsdale Villa Mirage – Scottsdale, Arizona
18. Sedona Summit – Sedona, Arizona
19. Villas de Santa Fe – Santa Fe, New Mexico

An owner in CSV may reserve up to 13 months in advance at any of these 19 properties.

Club Sunterra Vacations Membership Association, Inc. is the Club Sunterra Vacations association, and is a Delaware non-profit corporation. Individuals that purchase SunOptions in CSV become a member of the association.

The real property that makes up CSV is deeded to an independent trustee, currently First American Trust, FSB, that holds this property for the benefit of the members of the Association. The Trustee receives title insurance ensuring that all property transferred is free and clear of all encumbrances.

Membership interest in the Association is denominated in “points” or SunOptions, which represents a perpetual right to use inventory in a certain amount of SunOptions per year.

Club Sunterra Development, LLC is the developer of CSV and a subsidiary of Sunterra Corporation. Club Sunterra Development, LLC has the exclusive right to market and sell memberships in CSV.

When purchasers purchase SunOptions from the developer, they sign a Purchase Agreement that shows they purchase SunOptions and become a member in the CSV Association. In addition, they receive a UCC Title 9 Insurance policy, which shows that the SunOptions they purchased do not have any encumbrances attached. Further, they receive a SunOption
certificate indicating how many annual SunOptions they have purchased. The official record of membership in the Association is the Register of Members maintained by the Association Manager. With this membership, Sunterra offers a free membership to Club Sunterra, Inc., a Florida corporation, which is Sunterra’s internal exchange company. This provides owners with a 10 month reservation window to access the other 80 resorts within Sunterra’s internal exchange network.

A purchaser may choose to sell or transfer ownership of their CSV SunOptions and their membership in the Association, however, their free membership to Club Sunterra, Inc. is nontransferable. This means upon transfer to a third-party, the new owner would be able to travel within the 19 Club Sunterra Vacation resorts, or could pay an additional fee for
membership into Club Sunterra., Inc.

RELEVANT CONTACT INFORMATION:

1-877-CLUB SUN (U.S. & Canada)
Web Site: www.sunterra.com
(now www.diamondresorts.com)
Email: clubsun@sunterra.com
Fax Number: 702 – 543-4772
Hours of Operation
Monday – Friday 6am – 7pm PT
Saturday – 7am – 3:30 pm PT

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The next annual meeting of the DRUSC Trust is 14Oct08 in Las Vegas. There are no less than 30 candidates for the open BOD position(s). Your vote is appreciated.