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TERMS OF ACCEPTANCE

It is understood that:

1. There is no initiation fee now, and there can be no assessments in the future.

2. The annual membership dues are 1000 Swiss Francs, which I may pay in the form of U.S. Dollars. For payment of 1974 dues, the exchange rate has been fixed at $310.00 per 1000 Swiss Francs.

3. As summarized in the letter of invitation, certain portions of the membership dues are automatically refunded, there are certain privileges of membership, and membership may be terminated upon 30 days notice. A formal statement of these policies will be sent to me together with an invoice for the current year's dues. Both the statement of policies and the invoice are subject to my final acceptance.

4. My membership shall not become effective until Le Mirador has received that acceptance along with my remittance for the current year's dues.

INITIALED________DATE_______