The Club at Bella Collina - Membership Plan (2 of 6)

MEMBERSHIP FEATURES AND FACILITIES

Introduction

This Membership Plan, the Rules and Regulations and the Membership Agreement set forth the rights and privileges of Membership in the Club (herein called “Membership” and persons holding a Membership are herein called “Members”).

Club facilities

Members, their families and guests will enjoy the following Club Facilities:

  • Eighteen (18) Hole Nick Faldo Golf Course: The golf course is the focal point of the Club and the Community. The course is designed with tee placements that are a challenge for the low-handicapper while also creating an enjoyable golfing experience for all levels of players.

  • Golf Practice Facilities: An outstanding practice facility including a driving range, a practice chipping area and a putting green is located near the Bella Collina Clubhouse.

  • Bella Collina Clubhouse: The Clubhouse features attractive dining and lounge areas for Members and their accompanied guests, along with the traditional golf pro shop, men’s and ladies’ locker rooms with lounge area, more specifically described below.

  • Locker Rooms: The men’s locker room features a steam room and whirlpool spa. The ladies’ locker room includes two (2) soaking tubs and steam showers.

  • Dining: The Club features a full service restaurant and sports grill serving breakfast, lunch and dinner. For special Club events and catered affairs the Club also features a formal dining room, pizza bar, private dining room, wine cellar, and a newly constructed 7,000 square foot ballroom with an expansive terrace overlooking Lake Sienna.

  • Tennis: The tennis complex includes 6 Har-Tru courts for single or double play. The tennis program is professionally staffed to provide lessons and other tennis- related activities for all ages and skill levels.

  • Swimming: The pool complex includes a sports/resort-style pool overlooking Lake Sienna, designed with a perimeter overflow “zero edge” filter system and two (2) 75-foot lap lanes. Also included is over 10,000 square feet of sunbathing deck with a whirlpool spa seating up to 16 people and covered terrace with bar area for light meals and refreshments.

  • Fitness Center: The fitness facility includes a selection of 10 cardiovascular machines, 13-station circuit training workout, free weight area and other equipment for stretching and strength training. In addition, an aerobic studio was designed for teaching the newest health-related fitness classes by certified instructors.

  • Formal Ballroom: The 7,000 square foot multi-functional room boasts breathtaking views overlooking Lake Sienna and Lake Apopka. Such room can accommodate seating up to 300 guests for numerous activities and social events.

  • Spa/Salon: The Clubhouse includes a full service boutique salon/spa and features a total of five (5) treatment rooms and men’s and ladies’ changing rooms with day lockers.

  • The above listed facilities are referred to as “Club Facilities” in this Membership Plan. There is no assurance that the Club Facilities will be of any specific size or number. Any representations regarding size, number or adequacy of facilities may not be relied upon. The Company (as defined below) reserves the right to make any changes in the Club and Club Facilities.

Ownership and operation of club facilities

The Company operates the Club. The day-to-day management of the Club Facilities will initially be performed by the Company, and the Company reserves the right to engage a third party operator or manager of the Club Facilities. Where this Membership Plan refers to the Club taking action or having certain rights, the Company or its designees may take such action and shall have such rights.

Additional club facilities

The Company may, in its sole discretion, expand the Club Facilities or add additional facilities either on or off-site as it determines appropriate from time to time, including additional golf facilities. If additional facilities are added to the Club Facilities, the number of Memberships issued in the Club may be increased.

If additional facilities, including without limitation additional golf courses, are added, the Company may extend Membership privileges for the additional facilities to all Members or only to Members of certain categories or may create new Membership categories to which then existing Members may, to the extent available and offered to them, in the Company’s sole discretion, upgrade upon payment of an additional Membership deposit. The Company may, in its sole discretion, allow all Members to use the additional Club Facilities, increase dues for all Members or certain categories of Membership to pay the additional costs associated with the additional Club Facilities, or give Members the option to use the Club Facilities upon payment of additional Membership dues.

MEMBERSHIP CATEGORIES AND PRIVILEGES

Categories of membership

The Company is offering a limited number of Memberships in the following categories: Golf Memberships and Sports Memberships. The Company may offer other Memberships and use privileges, as described in the “Other Memberships and Use Privileges” and “Acknowledgment of Membership Rights” provisions in this Membership Plan. The Company may discontinue offering any category of Membership at any time.

Golf membership

Each Golf Member will be entitled to use all Club Facilities, subject to the terms of this Membership Plan, the Rules and Regulations and the applicable Membership Agreement. Golf Members will not be required to pay greens fees or court fees for use of the golf or tennis facilities, but may be required to pay golf cart fees or trail fees. Golf Members will be entitled to reserve golf starting times ten (10) days in advance and tennis court times seven (7) days in advance. Any Golf Member who fails to cancel their starting time 24 hours prior to their scheduled starting time shall be charged a fee according to the Club’s current Statement of Fees, Dues and Charges for the unused round(s). Golf Members will not be required to pay fees for use of the spa or fitness facilities, but will be required to pay fees and charges for spa services and treatments.

Sports membership

Sports Members will be entitled to use all Club Facilities, subject to the terms of this Membership Plan, the Rules and Regulations and the applicable Membership Agreement. Sports Members will be limited to the following number of rounds of golf per calendar year based on the number of Golf Members:

Rounds of Golf Per Sports Membership

# Golf Members # Golf Rounds Permitted

Under 200 30 200- 299 24 300-349 18 350 12

The number of rounds of golf available to Sports Members will not be lower than twelve (12) rounds per year. Sports Members will be required to pay golf greens fees, cart fees and applicable charges. Sports Members will be entitled to reserve golf starting times seven (7) days in advance. Any Sports Member who fails to cancel their starting time 24 hours prior to their scheduled starting time shall be charged a fee according to the Club’s current Statement of Fees, Dues and Charges for the unused round(s). Sports Members will be entitled to reserve tennis court times ten (10) days in advance and will not be required to pay court fees for use of the tennis facilities or fees for the fitness or spa facilities, unless services are rendered. A Sports Member is permitted to use the Golf Practice Facilities only on the day of a reserved tee time for such Sports Member or pursuant to the terms of a range plan purchased by such Sports Member through the Club.

Rules and policies

The Company may, from time to time, as the Company may determine in its sole discretion, establish and/or modify or amend rules, regulations, policies, guidelines, and/or systems to govern access to, or reservation of, the use of the Club Facilities by the Members and their guests.

Upgrade of membership

Members may upgrade to a higher category of Membership, in the sole discretion of the Company, if the higher category of Membership is then available and not reserved. In order to upgrade, the Member shall pay to the Company the difference between the Membership Deposit then charged for the higher category of Membership and the Membership Deposit previously paid by the Member for the lower category of Membership.

Downgrade of membership

A Golf Member in Good Standing may downgrade to become a Sports Member one time by submitting a written resignation for the Golf Membership and an executed Membership Agreement for Sports Membership, effective on the earlier of: (i) the reissuance of the Golf Membership by the Club, or (ii) twelve (12) months after the date of resignation of the Golf Membership.

The Golf Member will continue to be responsible for Golf Membership dues and have Golf Membership privileges until the effective date of the downgrade to Sports Membership. Sports Membership dues and Sports Membership privileges will not commence until the Member’s obligation to pay Golf Membership dues ceases.

The downgrading Member will not be required to pay a Membership Deposit for Sports Membership. Within thirty (30) days after reissuance of the Golf Membership, the downgraded Member will be refunded the difference between the Membership Deposit actually paid for the Golf Membership and the Membership Deposit for Sports Membership in effect at the time the Member originally acquired the Golf Membership.

Any Member who downgrades to Sports Membership in accordance with this paragraph may upgrade back to Golf Membership only if a Golf Membership is then available and not reserved and only in accordance with the “Upgrade of Membership” section of this Membership Plan.

NUMBER OF MEMBERSHIPS

Limit on number of memberships

The maximum number of Memberships permitted in each category will be as follows:

Membership Category Number of Memberships Golf Membership 350 Sports Membership Number of residences and homesites in the Community less number of Golf Memberships in Good Standing

The Company may, in its sole discretion, further limit the number of Golf Memberships available as the Company determines appropriate from time to time. The combination of homesites as described in the “Ownership of Multiple Residences or Homesites” section shall not reduce the number of Sports Memberships permitted to be issued.

As indicated in the “Club Facilities” section of this Membership Plan, the Company may, in its discretion, develop additional golf holes. For each additional nine (9) holes added to the Club Facilities, the total number of Golf Memberships may be increased by an additional one hundred seventy-five (175) Golf Memberships.

FAMILY AND GUEST PRIVILEGES

Immediate family privileges

A Member’s immediate family will be entitled to use the Club Facilities on the same basis as the Member, except as set forth herein. A Member’s immediate family will include the Member’s spouse and their unmarried children under the age of twenty- three (23) who are living at home, attending school on a full-time basis or serving in the military.

Privileges for individual living with member

A Member living together, on a permanent basis, with another individual in the same household as a family unit may designate that individual to use the Club Facilities as an immediate family member, on a membership year basis, upon payment of the required designee fee. The total number of adults who may have immediate family privileges is limited to two (2) adults per Membership at any one time (except for children under the age of twenty-three (23) who qualify as the immediate family of such Member). The Member and the designated user shall be individually and jointly responsible for the payment of all charges and fees incurred by the designated user. The Company reserves the right to establish such fees and other rules it deems appropriate with respect to such designees as the Company may determine from time to time in its sole discretion.

Extended family privileges

A Member’s extended family will be permitted to use the Club Facilities as a guest of the Member in accordance with the Member’s category of Membership upon payment of member guest fees and other applicable fees, and are subject to the rules and regulations pertaining to guests. Extended family will not be subject to the six times per year limitation on guest play as described in the Rules and Regulations. The extended family shall include the parents, adult children (who do not fall within the definition of immediate family), grandparents, grandchildren and great-grandchildren of the

Member and spouse, and the spouses of such family members. The Company may modify or terminate this privilege and establish rules with respect thereto as it may determine from time to time. The Member will be responsible for the payment of charges incurred by a Member’s extended family, including any applicable daily guest fees established by the Company from time to time. Members are responsible for the conduct of their extended family members.

Guest privileges

Members may have guests use the Club Facilities in accordance with the Member’s category of Membership, the Rules and Regulations of the Club and the Club’s guest policies. The Company may limit the number of guests and the number of times a particular guest may use the Club Facilities during each calendar year. The Member will be responsible for the payment of charges incurred by any guest including any applicable daily guest fees established by the Company from time to time in accordance with the Rules and Regulations. Members are responsible for the deportment, conduct and behavior of their guests. All guest fees and charges will be billed on the Member’s account; however, the Company may, in its sole discretion, allow for direct billing to a guest of any charges incurred at the Club.

Primary playing times

Although each Membership has family and guest privileges, the Company may from time to time establish primary playing times during which certain classes of Members, children and/or guest golf play may be restricted, in accordance with this Membership Plan and the Rules and Regulations, to better handle golf play during primary playing times. The Company may designate times when only certain classes of Members and their spouses may play or when certain classes of Members, guests or children may not play golf, notwithstanding any provision herein. Children who are immediate family will have the same golf privileges as the Member during all times except primary playing times.

Lessee privileges

A Member who leases his or her residence within the Community for a period of at least six (6) consecutive months may designate the lessee of his or her residence as the beneficial user of the Membership, subject to the prior approval of the Company in its sole discretion. During the term of the lease, the Member must designate one (1) individual (and immediate family in accordance with the “Immediate Family Privileges” provision of this Membership Plan) who will have the right to use the Membership. The lessee must submit an Application for Lessee Privileges, must be approved by the Company and must pay the required administrative fee established by the Company from time to time. During the period when a lessee is the designated user of the Membership, the lessor Member will not have any Membership privileges but will continue to be obligated to pay dues with respect to the Membership. The Member will be responsible for the deportment, conduct and behavior of the lessee and for all charges incurred by the lessee which are not paid by the lessee within the customary billing and collection procedures of the Club.

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