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1 - Exit
Exit to Central Beach (#4). The Rakatan Settlement is at area #3 and you'll be going there soon, or eventually.
2 - Rakatan Encounter
The first time here, a very large group of both Rakata and Young Rancors will meet you here, and invite you to see "The One" inside their settlement. With work, you can decline and fight the whole group (and subsequently their settlement), but you'll get more xp and quest opportunities if you accept their invitation. They will take you directly to see The One at Rakatan Settlement (#1).
After returning to this area from the settlement, if you're still friendly with them, be sure to talk with Warleader Garn at area #4 next to the beach for a quest with very good rewards.
After you've been to the Elder Settlement:
If you've been to see the Elders at their settlement off of South Beach and left on peaceful terms, you'll again face this whole group of Rakata here on the beach, but they'll be hostile. It's a big fight with four young rancors in total, and many Elite Rakatan Warriors - you'll have your hands full. Yet with good use of force powers, they still won't be a match for your party. If you've sided with the Elders, you'll walk into a hostile Rakatan Settlement as well.
3 - Exit
Exit to Rakatan Settlement (#5). If you've agreed to see The One inside the settlement at the first area #2 encounter, you'll be taken directly to him, and make your way back toward this exit from the settlement.
4 - Warleader Garn
On your way back outside the Rakatan Settlement, assuming you're still friendly with the Rakata, speak with Warleader Garn for a quest to rid the Temple Exterior of Mandalorians. You'll find them at Temple Exterior (#3) - see the link for details. It's a pretty tough encounter if you don't make efficient use of your force powers, and you'll need to bring back the Mandalorian Captain's head for Garn's reward.
One piece of advice. Before heading to South Beach and the Elder Settlement, finish the Mandalorian Quest and come directly back here for the reward. If you end up talking with the Elders and leaving on peaceful terms, the whole Rakatan Settlement including the North Beach will be hostile to you, and you won't be able to complete the quest.
After you've got the Mandalorian Head:
Bring it back to Garn and aside from gaining 1000xp, he'll reveal a footlocker nearby with goods inside that make this quest one of the best in the game. You'll find one fine set of armor, Verpine Zal Alloy Mesh, an incredible six Thermal Detonators, the best shield in the game, a Verpine Prototype Shield, two Deadly Plasma Mines, and more.