Certificate of Completion

Grey County

Town of Blue Mountain

Town of Blue Mountain

Golf Course Construction (Raven Golf at Lora Bay)

Date substantially performed:

2005-10-10

Date certificate signed:

2005-10-10

Name of Owner

Intrawest Golf Corporation

Address of Owner

14646 N. Kierland Blvd., Suite 210, Scottsdale, AZ 85254-276

Name of Contractor

NMP Golf Construction Inc.

Address of Contractor

2674 chemin Plamondon, Suite 201, Sainte-Madeline, Quebec J0

Name of Certifier

Thomas McBroom Associates Ltd.

Address of Certifier

120 Carlton Street, Suite 305, Toronto, ON M5A 4K2

Raven Golf at Lora Bay