PROPOSED RESOLUTION

For Consideration

By The DMFPO Board At Their Meeting

Of

October 10, 2000

DMFPO and Pebble Beach Company have entered into an agreement whereby, for consideration of certain conditions and restrictions accepted by the Pebble Beach Company, DMFPO Board will resolve to publicly endorse and support the proposed Pebble Beach Company Initiative known as Measure A which is to be voted on at the election scheduled for November 7, 2000. Pursuant to that agreement, the Board of the Del Monte Forest Property Owners hereby adopts the following resolution:

RESOLVED that in consideration of the agreements reached in the Agreement with the Pebble Beach Company dated October 10, 2000, the Board of DMFPO hereby officially endorses and supports Measure A and authorizes the Pebble Beach Company to publicly use this endorsement in connection with the campaign on behalf of Measure A.

This resolution becomes effective and is conditioned upon the signature of the CEO of Pebble Beach Company being affixed to the Agreement signed by the President of DMFPO and certified by the Secretary.