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authority to do those things in connection with such servicing, administration, and collection activities

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which it may deem necessary in order to maximize the rental…. Client shall furnish the Servicer with

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powers of attorney and other documents necessary or appropriate as required by the Servicer to enable

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the Servicer to enable the Servicer to carry out its servicing and administrative duties hereunder.”

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32. According to the YUCATAN and RHI marketing literature, Option 3 of the Universal Lease

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provides a multitude of advantages to more traditional investments. The most prominent of these, as

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demonstrated during a promotional power point presentation delivered by KELLY, is that the Universal

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Lease Program provides a far superior rate of return than most other investments. A second claim is that

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the Universal Lease is supported by “debt-free” resort properties, and that as a result the YUCATAN

Docket No. S-03539A-03-0000

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Agreement is bundled with the Universal Lease promotional and application materials, and is the single

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management company identi ied for servicing YUCATAN’s various resorts.

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have signed the Management Agreement with WORLD PHANTASY, the investors are allegedly eligible

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to receive a 9 percent per annum return on their investments for the life of the Universal Lease Program,

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presently set at 25 years. The investors have no functions or responsibilities following their investments,

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and YUCATAN, RHI and WORLD PHANTASY purportedly develop new and/or manage existing

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rental units to generate the profits that support the investors’ investment returns.

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investments are fully safe and secured.

7

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31. Once investors have made their investments in YUCATAN’s Universal Lease Program, and

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29. Neither YUCATAN nor RHI disclose any financial relationship with WORLD PHANTASY

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or indicate whether either company is entitled to receive a percentage of this servicing agent’s

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only listed means under which investors can earn the promised 9 per cent rate of return on their Universal

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Lease investments.

3

4

9

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formal

“Management

Agreement”

with

the

company.

This

WORLD

PHANTASY

Management

management fees.

30. The “Universal Lease Management Agreement” states: “The Servicer shall have full power and

28.

To select WORLD PHANTASY as the servicing agent, investors are instructed to complete a

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