Updated 4/20/2017

Obtain the Property Report required by Federal law and read it before signing anything. No Federal agency has judged the merits or value, if any, of this property. This does not constitute an offer to sell, or a solicitation to buy, real estate to residents of any state or jurisdiction where prohibited by law, or where prior registration is required but has not yet been fulfilled.

For NY Residents: THE COMPLETE OFFERING TERMS FOR THE SALE OF LOTS ARE IN THE CPS-12 APPLICATIONS AVAILABLE FROM OFFEROR, GOLDEN OAK DEVELOPMENT, LLC. FILE NOS. CP16-0107 (Phases 2 and 4) and CP16-0069 (Phase 3). For California Residents: WARNING: THE CALIFORNIA BUREAU OF REAL ESTATE HAS NOT INSPECTED, EXAMINED, OR QUALIFIED THIS OFFERING. PA REGISTRATION No. OL001147. KY REGISTRATION No. R-176. OKLAHOMA OFFEREES SHOULD OBTAIN AN OKLAHOMA PUBLIC OFFERING STATEMENT FROM THE DEVELOPER AND READ IT BEFORE SIGNING ANY DOCUMENTS. THE OKLAHOMA SECURITIES COMMISSION NEITHER RECOMMENDS THE PURCHASE OF THE PROPERTY NOR APPROVES THE MERITS OF THE OFFERING.

Four Seasons Private Residences Orlando at Walt Disney World® Resort ("FSPR") are not owned, developed or sold by Four Seasons Hotels Limited or its affiliates ("Four Seasons"). The developer, Golden Oak Development, LLC, uses Four Seasons trademarks and tradenames under a limited, non-transferable license from Four Seasons Hotels Limited. The marks "FOUR SEASONS," "FOUR SEASONS HOTELS AND RESORTS," any combination thereof and the Tree Design are registered trademarks of Four Seasons Hotels Limited in Canada and U.S.A. and of Four Seasons Hotels (Barbados) Ltd. elsewhere.

Subject only to any rights or benefits granted to purchasers of a residence in the FSPR, purchasing property in Golden Oak will not confer upon you any ownership right, and will not confer upon you any special or priority use rights or other rights or privileges (over and beyond the rights of the general public), to use the hotel rooms, restaurants, meeting space, spas, pools, recreational areas or other amenities or facilities of the Four Seasons Resort Orlando ("Four Seasons Resort"), or any successor resort or other facility which may be built upon the land where the Four Seasons Resort is located. Four Seasons and the owner of the Four Seasons Resort have certain flexibility under any existing agreements affecting the resort to make, without notice, changes, modifications, substitutions and replacements to the Four Seasons Resort and to the hotel services and access to be provided by or at the Four Seasons Resort to FSPR residents (and to the terms and conditions applicable thereto) and there is no guarantee that any particular facility, service or access will be provided or available in the future. Furthermore, although the Four Seasons Resort is a part of the Golden Oak community, there is no guarantee that the Four Seasons Resort or any successor resort or other facility shall at some future date be part of the Golden Oak community. At some future date, the Four Seasons Resort may change its name or be managed or owned by parties other than those which manage and own it as of the date hereof.

Purchasers in Golden Oak (including purchasers in FSPR) must maintain membership in the Golden Oak Club. Purchasers in FSPR will pay fees for access to and use of certain amenities and services of the Four Seasons Resort. In addition to the purchase price, association assessments, Golden Oak Club fees, and Four Seasons Private Residences fees, certain fees and charges will apply, including, but not limited to: access to and use of the Summerhouse restaurants and select events; services rendered or arranged by the Golden Oak Club Member Services or Four Seasons Private Residences Services, including, but not limited to, dining reservations, ticket purchases, tours and other services; Golden Oak Resident Pass, Walt Disney World® Golf Players Club, in-park special event tickets; access to and use of the golf course, spa, dining facilities, private event facilities, and certain other facilities in the Four Seasons Resort; and a la carte services provided by the hotel or arranged by Four Seasons Private Residences Services. Additionally, use of and access to certain services and amenities, including, without limitation, the amenities of the Golden Oak Club or the Four Seasons Resort, may be subject to availability, rules and requirements. Some photographs and scenes included herein are not within and will not be part of the Golden Oak community or the Four Seasons Resort.

The agreements related to the branding of the FSPR neighborhood (including, without limitation, the use of the "Four Seasons Private Residences" name (the "FSPR name") and/or any services or access provided to the residents of the FSPR have specified terms of durations, which may be subject to renewal, but are also subject to early termination under certain circumstances. Accordingly, there is no guarantee that these agreements with Four Seasons will remain in force or effect for any specified period of time. If the agreements expire or are otherwise terminated for any reason, any management and hotel services provided by Four Seasons, any access to the amenities and services of the Four Seasons Resort, and the branding of the FSPR (including, without limitation, the use of the FSPR name and Four Seasons trademarks) shall cease. In addition, if Four Seasons ceases to manage the Four Seasons Resort, then the referenced agreements may terminate. Except for certain very limited rights to use the FSPR name expressly set forth in the agreements with Four Seasons, residents of FSPR will acquire no license or right to use the Four Seasons trademarks or FSPR name, and shall acquire no ownership or any other right to the Four Seasons trademarks or FSPR name.

The prices, plans, uses, dimensions, specifications, materials, facilities, features, amenities, benefits and services described and depicted herein are based upon current development plans, which are subject to change without notice. No guarantee is made that the facilities, features or amenities depicted or otherwise described herein will be built or, if built, will be of the same type, size or nature as depicted or described herein.

Approval of builders who will build homes within the Golden Oak community and FSPR shall not be construed as an endorsement, warranty or certification by the Architectural Review Board of the Golden Oak Non-Residential Association or Golden Oak Development, LLC, and its affiliates, or any association affiliated with Golden Oak Development, LLC, of any builder or the builder's performance or a guarantee of the obligations of any builder.

Void where prohibited by law. Equal Housing Opportunity. Broker participation welcome. ©Disney