The Club at Bella Collina - Membership Plan (3 of 6)
OFFERING OF MEMBERSHIPS
Memberships will be offered to owners of residences and homesites in the Community, except that Golf Memberships will be offered to owners of residences and homesites in the Community only if available and not reserved. The Company may, in its sole discretion, offer Memberships to persons not living within the Community; provided, however, that the Company shall maintain a sufficient number of Sports Memberships necessary to issue one (1) Sports Membership for each Member in Good Standing who owns a homesite residence within Bella Collina, which may be satisfied by issuing Sports Memberships to persons outside of Bella Collina that are recallable to the extent necessary to permit the issuance of one (1) Sports Membership for each Member in Good Standing who owns a homesite residence within Bella Collina.
All of the unissued Golf Memberships will be reserved by the Company and will not be considered to be available Golf Memberships in the Club. The Company may not be compelled to sell a reserved Golf Membership. The Company may issue a reserved Golf Membership to any person that the Company, in its sole discretion, determines appropriate from time to time, including persons who do not own a residence or homesite in the Community.
Membership requirement for property owners
Pursuant to the Declaration, owners of residences and homesites in Bella Collina are required to acquire and maintain a Membership in the Club. Therefore, each such initial and resale purchaser of a residence or homesite in Bella Collina is obligated to submit a Membership Agreement and pay the required Membership Deposit prior to closing on the purchase of the residence or homesite along with the purchaser’s execution and delivery of a Membership Agreement to the Club, not later than five (5) days prior to closing. The number of Golf Memberships is limited and available Golf Memberships will generally be issued on a first-come, first-served basis. OWNERSHIP OF A RESIDENCE OR HOMESITE DOES NOT GIVE ANY VESTED RIGHT OR EASEMENT, PRESCRIPTIVE OR OTHERWISE, TO USE THE CLUB FACILITIES OR TO ACQUIRE A GOLF MEMBERSHIP IN THE CLUB, AND DOES NOT GRANT ANY OWNERSHIP OR MEMBERSHIP INTEREST IN THE CLUB OR THE CLUB FACILITIES.
However, an initial purchaser of a residence or homesite in Bella Collina who acquires a Sports Membership on or before the closing on the purchase of the residence or homesite may upgrade to a Golf Membership (if available and not reserved) in accordance with the “Upgrade of Membership” provision of this Membership Plan within sixty (60) days of the closing by paying the difference between the Membership Deposit in effect for Golf Membership as of the date of the real estate closing and the Membership Deposit actually paid for the Sports Membership. The Company reserves the right to establish a process for property owners of Bella Collina to be approved for Membership.
Ownership of multiple residences or homesites
If a purchaser acquires two (2) or more residences or homesites in Bella Collina, the purchaser must acquire at least a Sports Membership for each residence and homesite and should acquire a Golf Membership for each residence or homesite for which Golf Membership privileges are desired.
Multiple owners of property
In the event a residence or homesite in the Community is owned by more than one (1) person (other than spouses), only one (1) owner is eligible to obtain a Membership. The additional owners of the property who are not the Member may use the Club Facilities as guests of the Member upon payment of any applicable guest fees and other rules in accordance with the Rules and Regulations. However, any requirement to be accompanied by the Member or limitation on the number of times a guest may use the facilities, shall not apply to such additional owners while they are staying in residence, provided that this additional privilege shall only be available for up to a maximum of three (3) additional owners designated by the Member. Additional owners over the maximum of three (3) to a homesite will be treated as other guests and would be subject to the limitations and restrictions applicable to guests. Decisions of the multiple owners with respect to the Membership, including changes in designated owner, shall be made only by unanimous written notice to the Company, unless the multiple owners give unanimous written notice to the Company indicating that decisions thereafter made with respect to the Membership shall be made by written notice from a majority of the owners or one of the owners.
The designated user of the Membership may be changed once per calendar year upon payment of a redesignation fee except the owners may change the designated user to the designated user’s spouse upon the death of the designated user, without payment of a redesignation fee and without limitation.
Membership held in name of legal entity
For the convenience of Members, a Membership may be held in the name of a limited liability company, corporation, partnership, trust or other form of multiple ownership (collectively, the “Entity”). The Entity must designate one individual who will have the right to use the Membership and will be jointly and severally liable for the obligations of the Entity owed to the Club. The designated individual may be changed once per calendar year upon payment of a redesignation fee except the Entity may change the designated user to the designated user’s spouse upon the death of the designated user, without payment of a redesignation fee and without limitation. The designated user must submit a Membership Agreement and will be subject to the approval of the Company in its sole discretion. The designated user must be a bona fide director, officer, partner, shareholder or employee of the Entity, or a beneficiary or settlor if the Membership is held in the name of a trust, and must pay the required dues, fees and charges. No person other than the designated user will be entitled to simultaneously use the Membership. Shareholders, partners or owners of the Entity who are not the designated user (up to a maximum of three (3) shareholders, partners or owners) may use the Club Facilities as guests of the designated user upon payment of applicable
guest fees in accordance with the Rules and Regulations. However, in the case of an Entity that owns a residence, the requirement of accompaniment by the Member and the limitation on the number of times a guest may use the facilities do not apply to the three (3) shareholders, partners or owners while staying in residence; however, applicable guest fees do apply to the three (3) shareholders, partners or owners. (Additional owners of a homesite who are guests of the Member are subject to the accompaniment requirement and the limitation on the number of times a guest may use the facilities.) The Company may establish from time to time the rules governing the designated user of a Membership.
Membership deposit required to acquire membership
Each person who desires to acquire a Membership will be required to pay a deposit (a “Membership Deposit”) in an amount as determined by the Company from time to time in its sole discretion along with the submission of the executed Membership Agreement. Membership Deposits are not transferable, except as specifically provided in this Membership Plan, and are refundable only in accordance with this Membership Plan, the Rules and Regulations of the Club and the Membership Agreement.
Refund of membership deposit
The Membership Deposit actually paid by a Member will be refunded, without interest, thirty (30) years after the date the Membership is issued by the Club, unless the Membership is resigned and reissued before such thirty (30) year period.
If a Member resigns prior to the end of the thirty (30) year period, the Membership Deposit paid by that Member will be refunded, without interest, within thirty (30) days after the reissuance of the resigned Membership by the Club to a new Member, in accordance with the “Transfer of Membership” provision in this Membership Plan, less a ten percent (10%) administrative and transfer fee (“Reissuance Refund”). The Company shall have the right to setoff against any refund of the Membership Deposit (including the Reissuance Refund) all amounts owed by such Member to the Company.
The Club’s obligation to the Member shall be evidenced by the Membership Agreement. Upon the reissuance of a resigned Membership to a new Member, a new thirty (30) year period begins on the date the new Membership is reissued. The difference between the amount paid by the new Member and the amount refunded to the resigning Member will be retained by the Company.
Member may continue membership at end of thirty years
A Member who continues to be a Member for thirty (30) years may elect to continue his or her Membership at the end of the thirty (30) year period by paying the applicable Membership dues, fees and charges until the Member subsequently resigns from the Club. Any Member who elects to continue his or her Membership at the end of the thirty (30) year period will not be counted toward any cap or limits on the total number of Members or the number of Members in any category.
Deduction of amounts owed to company
The Company will deduct from any amount to be repaid to the Member any amount which the Member owes the Company, including without limitation any unpaid dues, interest and other applicable charges and fees.
Tax consequences of acquiring membership
The Company makes no representations and expresses no opinions regarding the federal, state or local income tax consequences of acquiring a Membership or with respect to any Membership Deposits paid to the Company. All persons acquire their Membership subject to all applicable tax laws, as the same may be amended from time to time. Accordingly, Members should consult with their own tax advisors with respect to the tax consequences of any Membership Deposits.
TRANSFER OF MEMBERSHIP
Transfer of membership to club
A Member may transfer his or her Membership only through the Company by resigning the Membership and arranging for the Company to reissue the Membership. Should a Member desire to resign from the Club, the Member shall complete a Resignation and Disbursement Direction Form and deliver said form to the Membership Director. Resignation of a Member is irrevocable, unless otherwise determined by the Club. Except for transfers to the Club in accordance with this Membership Plan, a Member may not transfer or sell his or her Membership or any rights associated therein to any person or entity.
Pursuant to the Declaration, each property owner in Bella Collina is required to be at least a Sports Member. Therefore, a property owner in Bella Collina may not resign a Sports Membership, except in connection with the sale of the residence or homesite that is associated with such Sports Membership. A Golf Member who owns a residence or homesite in Bella Collina may resign the Golf Membership associated with such residence or homesite, provided that he or she acquires a Sports Membership before the earlier of (i) the reissuance of the Golf Membership or (ii) 12 months after the date of resignation. (However, a Golf Member has a one time right to downgrade to Sports Membership without payment of the Membership Deposit for the Sports Membership in accordance with the “Downgrade of Membership” provision of this Membership Plan.)
Transfer upon sale of residence or homesite
A Member shall resign from the Club upon the sale, exchange or other transfer of his or her residence or homesite in the Community and shall arrange for the Club to reissue his or her Membership to the subsequent purchaser of his or her residence or homesite in the Community regardless of whether all of the Memberships in that category have been issued and regardless of whether there are any resigned Memberships on the waiting list. The subsequent purchaser acquiring the resigned Membership will be required to submit a Membership Agreement not later than five (5) days prior to the closing of the sale of the homesite or residence in Bella Collina and will be required to pay the
Membership Deposit which is then in effect. The subsequent purchaser must acquire the Membership on or before the real estate closing.
If a Sports Member sells his or her residence or homesite in the Community, the Sports Member shall arrange through the Club to have the purchaser acquire a Sports Membership or Golf Membership from the Club. The Sports Membership will be surrendered to the Club and the Club will pay to the selling Sports Member the Reissuance Refund within 30 days of the closing of the sale of the residence or homesite, the same as if the Sports Membership had been reissued to the subsequent purchaser of the residence or homesite. The subsequent purchaser acquiring the resigned Membership will be required to submit a Membership Agreement not later than five (5) days prior to the closing of the sale of the homesite or residence in Bella Collina and will be required to pay the Membership Deposit which is then in effect. The subsequent purchaser must acquire the Membership on or before the real estate closing.
If a Golf Member sells his or her residence or homesite in the Community and arranges through the Club to have the purchaser acquire a Sports Membership from the Club, the Golf Member shall resign the Golf Membership and the resigned Golf Membership will be placed on the waiting list in accordance with the “Transfer Through Waiting List” section of this Membership Plan below. The Club will refund to the resigned Golf Member the Reissuance Refund as follows: (i) within thirty (30) days after the closing of the sale of the residence or homesite, the Reissuance Refund will be refunded to the extent of the amount of the Membership Deposit paid by the Sports Member who purchased the Golf Member’s residence or homesite; and (ii) the balance of the Reissuance Refund due to the Golf Member, if any, will be refunded upon reissuance of the Golf Membership.
If a third party, including an institutional lender, acquires a residence or homesite in Bella Collina as a result of a foreclosure sale or deed in lieu transaction after June 27, 2012, the Membership associated with the prior owner of such residence or homesite shall be deemed revoked and shall be treated as if such prior owner had resigned its Golf Membership or Sports Membership pursuant to the terms of this Membership Plan. The resigned Golf Membership or Sports Membership will be placed on a waiting list in accordance with the “transfer through waiting list” section of this Membership Plan below. The Club will refund to the prior golf or sports member the reissue refund as follows: (i) Within thirty (30) days after the closing of the sale of the residence or homesite, the re-issuance refund will be refunded to the extent of the amount of the membership deposit paid by the subsequent golf or sports member who purchases the residence or homesite; and
(ii) The balance of the reissued refund due to the prior member, if any, will be refunded upon the reissuance of the Golf Membership or Sports Membership.
The subsequent owner of the residence, in order to enjoy the privileges of being a Member of the Club, shall be required to execute and deliver a Membership Agreement along with the full payment of the requisite Membership Deposit.
In the event that a Member sells a residence or homesite in Bella Collina, whether voluntarily or involuntarily by operation of law, and refuses to resign the applicable Golf Membership or Sports Membership associated with that particular residence or homesite, such Member’s Membership in the Club shall be deemed revoked upon the transfer of title to the homesite or residence in Bella Collina to the new purchaser thereof. The resigned Member’s Membership shall become the property of the Club and all of the Member’s rights and privileges to use the Club Facilities shall be immediately deemed revoked and terminated. The Membership Deposit associated with the revoked Membership shall be non-refundable to the prior Member.