Centex Destination Properties® development concepts for Pointe West, The Hollows and The Waters continue to evolve and are subject to change without notice. No guarantee is made as to the amenities, facilities, or features that will be included in each community. Actual development may not be as currently proposed. Centex Destination Properties® does not own or control the land outside the boundaries of Pointe West, The Hollows and The Waters and does not guarantee the current or future use thereof. Centex Destination Properties® does not own or control any amenities associated with Horseshoe Bay Resort, Ltd. All such amenities are owned by Horseshoe Bay Resort, Ltd. and are restricted to use by the resort members and approved guests. Centex Destination Properties and Horseshoe Bay Resort, Ltd. have entered into a certain contract that allows owners of residential units on the Property developed by Centex Destination Properties and certain guests of such owners the right to access and use such amenities on certain terms and conditions. A golf membership is not included in your purchase of a residence at The Waters, and you are responsible for all initiation fees and other charges associated with a golf membership. Availability of golf memberships may be limited and subject to other terms and conditions, and are not controlled by The Waters and Centex Destination Properties®. Please consult a representative of Centex Destination Properties® for further details. Purchase of a unit or lot at The Hollows does not provide access to The Hollows Marina and Beach Club which are subject to payment of fees, membership requirements and other restrictions, and will be limited in availability. Access to The Hollows and Pointe West Beach Clubs and other amenities is subject to a mandatory club membership that is required with the purchase of your lot or unit, and the payment of additional fees and other requirements. Some photos shown do not represent Pointe West, The Hollows, The Waters or other properties developed by Centex Destination Properties, or may have been digitally enhanced. Prices are subject to change without notice. This material shall not constitute a valid offer in any state where prior registration is required. WARNING: THE CALIFORNIA DEPARTMENT OF REAL ESTATE HAS NOT INSPECTED, EXAMINED OR QUALIFIED THIS OFFERING.