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<br />PROJECTED ARONA SITE <br />DEVELOPMENT SCHEDULE <br /> <br />Tasks <br /> <br />Date <br /> <br />Developer Selected <br /> <br />Project Approval <br /> <br />Development Contract Negotiated <br /> <br />Developer Security Posted <br /> <br />City Demolition of Existing Structure <br />(If Phase One) <br /> <br />Developer Acquires Site <br /> <br />Land Development (Road Restrictions) <br /> <br />Building Construction Start <br /> <br />First Buildings Complete (Fall Parade) <br /> <br />Marketing Commences <br /> <br />Project Completion Phase One <br /> <br />100% Units Closed Phase Two <br /><Assumes 2 Phases) <br /> <br />The Rottlund Company, Inc, <br />July 17, 1994 <br /> <br />6 <br /> <br />August 1995 <br /> <br />November/December 1995 <br /> <br />January 1996 <br /> <br />February 1996 <br /> <br />Marchi April 1996 <br /> <br />April 1996 <br /> <br />May/July 1996 <br /> <br />June 1996 <br /> <br />September 1996 <br /> <br />September 1996 <br /> <br />June 1997 <br /> <br />October 1998 <br /> <br />TW/ms rose2.doc 7/17/95 <br />