BOBBY L CULPEPPER & ASSOCLATES A PROFESSIONAL LAW CORPORATION 205 WEST ALABAMA BOBBY L. CULPEPPER 525 EAST COURT AVENUE RUSTON, LA 71270 JONESBORO, LOUISLANA 71251-3497 318-251-0701 TERRY CULPEPPER CARROLL 318/259-4184 J. CLAY CARROLL FAX #318/259-6278 233 SOUTH GRAND MONROE, LA 71201 PLEASE REFER ALL CORRESPONDENCE 318/325-3884 TO THE JONESBORO OFFICE File April 5, 1999 MMR Investment Bankers 550 North 159th Street East P.0. Box 781440 Wichita, Kansas 67278-1440 Re: Authorization of $9,900,000.00 First Mortgage Bond Issue Gentlemen: The Biltmore Group of Louisiana L.L.C. (hereinafter called "company"), is a duly organized and existing limited liability company organized under the laws of the State of Louisiana and authorized to do business therein. The correct name to be used on the first mortgage bonds and all legal instruments is The Biltmore Group of Louisiana L.L.C. Effective as of January 26, 1999, the members of the company signed resolutions authorizing the issuance of up to $9,900,000.00 of first mortgage bonds and the execution of certain instruments in connection with the bond issue by Joanne Caldwell-Bayles, as manager. I have duly examined the Articles of Organization and Operating Agreement of the company and find that the resolutions passed effective January 26, 1999, a copy of which is attached hereto as Exhibit A and made a part of this opinion, were passed in accordance with the Articles of organization, Operating Agreement and the laws of the State of Louisiana, and I do hereby certify that said resolutions constitute a valid and legal authorization for the issuance of up to $9,900,000.00 of first mortgage bonds for the purposes set out in said resolutions and for the execution of a trust indenture, setting out the terms and conditions of the bond issue and placing a lien on the company's real property in order to secure payment of the first mortgage bonds. I further certify the following person is the proper person to sign the trust indenture in accordance with the Articles of organization and operating Agreement of the company: MMR Investment Bankers Page 2 April 5, 1999 Name: Joanne Caldwell-Bayles Title: Manager I further certify that when the first mortgage bonds have been paid for by the purchaser and signed by the manager, the first mortgage bonds will be a legal and binding indebtedness of the company. The opinions expressed above are subject in their entirety to (i) the effect of any applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors' rights generally; and (ii) the rights of the United States government under the Federal Tax Lien Act of 1966, as amended; and (iii) the discretionary power of the courts to make available remedies of specific performance, injunctive relief or other equitable remedies. This opinion is limited to the matters stated herein, and no opinions may be implied or inferred beyond the matters stated. In giving this opinion we have assumed the authenticity of all signatures to the Operating Agreement and the resolutions and that those persons signing on behalf of a corporate or other entity that is not an individual have the requisite authority. With kindest personal regards, I remain Yours very /S/J CLAY CARROLL J CLAY CARROLL JCC:bb CC:The Biltmore Group of Louisiana L.L.C.