Q:What
is Parkland Golf Club?
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A:Parkland
Golf Club or Parkland Golf Course is an exclusive
member-owned Country Club being developed by WCI Communities, Inc.,
a Delaware Corporation (“WCI”). WCI is also the Developer
of the Parkland Golf and Country Club residential
community (“Parkand Golf and Country Club”) in which Parkland
Golf Club Facilities are located. Parkland Golf Inc. (“Club”)
is a Florida not-for-profit Corporation which is being formed to own
and operate Parkland Golf Club Facilities.
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Q: What
is a member-owned or equity club?
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A: In a member
owned or equity club, each Equity Member has an undivided ownership
interest in Parkland Golf Club and voting privileges. The Parkland
Golf Club Facilities are operated under the direction of a “Board
of Governors.” Control of the Board of Governors will initially
be retained by WCI and will be turned over to the Equity Members (‘The
Turnover”) when WCI has issued all the authorized Equity Memberships
in the Parkland Golf Club and has conveyed all the homesites and residences
in Parkland Golf and Country Club. Each Equity Member shall have one
vote. There shall be no weighted voting.
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Q:What benefits are provided
by member ownership?
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A: The Parkland
Golf Club/Parkland Golf Course experience and lifestyle
are enhanced by the heightened interest and participation of member
owners, as well as greater continuity in the membership that is found
in a member-owned club. Member ownership also creates a greater cohesiveness
within Parkland Golf and Country Club of Parkland Golf and Country
Club.
Member-ownership answers the important question as to what will become
of the Parkland Golf Club/ Parkland Golf Course Facilities in the
future, by clearly establishing the entity that will own and control
the Parkland Golf Club Facilities.
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Q: What Facilities will
be available to Equity Members of Parkland Golf Club/ Parkland Golf
Course?
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A: The Parkland
Golf Club/ Parkland Golf Course facilities are planned to include
an outstanding Greg Norman designed 18 hole Signature Golf Course,
plus a nineteenth “bye” hole, and golf practice facilities.
The Parkland Golf Course Clubhouse, of approximately 22,000 air conditioned
square feet, will offer: grille and lounge facilities; Pro Shop; men’s
and woman’s locker rooms; card rooms; and administrative facilities.
Additional Parkland Golf Course Facilities will include golf car storage
and maintenance facilities. WCI reserves the right to construct additional
Parkland Golf Course Club Facilities or to discontinue the operation
of any Parkland Golf Course Club Facility in the future. In the event
WCI does construct additional Parkland Golf Course Club Facilities,
WCI may increase or charge additional fees, dues and other amounts
as deemed necessary by WCI from time to time. The Parkland Golf Course
Club Facilities will be developed in accordance with the Audubon International
Signature Program.
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Q: What is the Audubon
International Signature Program?
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A: The Audubon
International Signature Program is based upon principals and practices
that create communities compatible with the natural environment through
enhancement of (i) natural resources, (ii) habitat value and quantity,
(iii) biodiversity, (iv) conservation and (v) education. As a part
of the Signature Program, Audubon International will develop a Natural
Resource Management Plan which establishes guidelines for Wildlife
conservation and Habitat Management; Water Quality Monitoring and
Management; Integrated Pest Management; Waste Reduction and Management;
and Energy Efficiency and Water Conservation.
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Q: When will the Parkland
Golf Club/ Parkland Golf Course be completed?
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A: The Parkland
golf course and related practice facilities are planned to open in
the first quarter of 2004. The golf clubhouse is planned to be available
in the fourth quarter of 2006. The opening of the Parkland golf course
or the other Club facilities may be delayed due to weather and other
unanticipated circumstances.
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Q: What are the Equity
Membership opportunities available at Parkland Golf Club?
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| A: Equity memberships
will be available, by invitation only, in the following categories:
Medallion Memberships will be offered only to the purchasers of homesites
or residences in Parkland Golf and Country Club. Signature memberships
are available to persons who do not own property in parkland Golf
and Country Club. The initial twenty-five (25) Equity Memberships
issued by Parkland Golf Club, whether Medallion or Signature, will
be known as “Founder Memberships.” A Founder Membership
will be non recallable by the Parkland GolfClub and shall have the
same privileges as a Medallion Membership. Signature memberships
are recalled by the Parkland Golf Club if needed, prior to the Turnover
Date, to make additional Medallion Memberships available for property
purchasers. If a Signature Membership has not been recalled by the
Turnover Date, it shall no longer be subject to recall. Upon recall,
the Signature Member will receive one hundred percent (100%) A Signature
Member will become a Medallion Member, without the payment of an
additional Membership Contribution, upon closing on the purchase
of a homesite or residence in Parkland Golf and Country Club. The
only other distinctions between a Medallion Membership and a Signature
Membership are that a Medallion Member may arrange for the Parkland
Golf Club to reissue his or her membership to the purchaser of his
or her property in Parkland Golf and Country Club as the beneficial
user of the membership.
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Q: What are the privileges
of an Equity Membership?
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A: Equity Memberships
will have unlimited use privileges of all the Parkland Golf Club Facilities
and will not be required to pays green fees, but may be required to
pay other fees such as golf cart fees. Each Equity Member will have
one locker assigned and bag storage without charge, with the option
to lease another locker.
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Q: Are the number of
Equity Memberships in Parkland Golf Club limited?
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A: Yes. In order
to assure the highest standards of service and accessibility by Equity
Members, the Parkland Golf Club currently plans to offer a total of
425 Equity Memberships. Any additional membership categories which
may be issued will be limited in numbers.
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Q: Are
the Memberships in Parkland Golf Club otherwise limited?
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A: Yes. Provided
the total number of members with full golfing privileges shall not
exceed 425, Parkland Golf Club reserves the right at any time and
without prior notice to add or eliminate membership categories, to
modify the privileges associated with membership categories.
Parkland Golf Club will offer, by invitation only, Annual Memberships
to such persons or entities who do not own property in Parkland Golf
and Country Club as Parkland Golf Club shall determine in its sole
discretion. Annual Members are not Equity Members and shall have different
tee time and locker/bag storage policies than Equity Members. Annual
Memberships are recallable by Parkland Golf Club as needed to make
additional Equity Memberships available, or otherwise in Parkland
Golf Club’s discretion. The maximum number of Annual Memberships
issued at any time will be equal to 425 less the number of Equity
memberships then issued and outstanding.
WCI May appoint up to 5 “WCI Designees”, who shall be
senior executives or members of the Board of Directors of WCI or its
affiliates or subsidiaries. WCI Designees will have use privileges
of all Parkland Golf Club Facilities without the payment of dues.
WCI Designees will be in addition to the total number of Equity Memberships
and Annual Memberships. WCI’s right to appoint WCI Designees
will continue beyond Turnover.
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Q: What am I obligated
to pay for a membership in Parkland Golf Club?
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A: An Equity
Member must pay a membership Contribution, which will be due and payable
in periodic payments prior to and upon the completion of Parkland
Golf Club Facilities as follows:
- 40% upon signing the Membership Application;
- 40% upon the opening of the golf course for play; and
- 20% upon receipt of the Certificate of Occupancy for the Golf
Clubhouse.
Parkland Golf Club reserves the right to increase the amount of
the Membership Contribution for memberships sold in the future.
Equity Members will also be obligated to pay dues and applicable
fees and charges as established by Parkland Golf Club from time
to time.
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Q: Will
I receive a refund of my Membership Contribution?
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A: In order
to assure that each Equity Member is satisfied with the completed
golf course and the membership program, any portion of the membership
Contribution paid is refundable, without interest, and less any amounts
owed to Parkland Golf Club, until the later of thirty (30) days after
Parkland Golf Club provides notice that the golf course is available
for play or thirty (30) days after receipt by the Equity Member of
the Membership Plan and it’s Exhibits.
Until all Equity Memberships are issued, resigned Equity Memberships
will be resold on a “one-in-four” basis, meaning that
every four (4) Equity Memberships sold by Parkland Golf Club, one
(1) resigned Equity membership will be reissued by Parkland Golf Club.
Thereafter, each Equity Membership sold will be a reissued Equity
Membership. All resigned Equity Memberships will be placed on the
same waiting list on a first-resigned, first re-issued basis. Within
sixty (60) days of the reissue of a resigned Equity membership, the
resigned Equity Member will be paid, without interest, exclusive of
sales tax, if applicable, and less any amounts owed to Parkland Golf
Club, eighty percent (80%) of the membership Contribution in effect
on the date of resignation.
A resigning Medallion Member who is selling his or her homesite or
residence in Parkland Golf and Country Club may arrange for Parkland
Golf Club to reissue his or her membership to the purchaser of the
property regardless of any waiting list. upon reissue of the membership,
the resigning Medallion member will be paid 80% of the membership
Contribution in effect on the date of resignation.
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Q: When will I be required
to pay dues?
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A: Equity Members
will be required to pay full dues for the upcoming membership year
on January 1 of each year. Dues and fees will be determined by Parkland
Golf Club from time to time in its sole and absolute discretion. Prior
to the availability of all Club Facilities, Parkland Golf Club may
provide Equity Members with a dues credit of operating costs of Parkland
Golf Club are reduced.
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Q: What happens to my
Membership upon my divorce or separation?
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A: in the event
an Equity Member ceases to cohabitate with, or becomes legally separated
or divorced from, his or her spouse, title to the membership including
all rights, benefits and use privileges will remain with the Equity
Member provided, however that if the Equity Member is also an owner
of a homesite or residence within Parkland Golf and Country Club and
the property is transferred to the non-member spouse, the membership
will belong to the spouse retaining ownership of the property provided
the spouse applies and is approved for membership.
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Q: Will my family members
be welcome at Parkland Golf Club?
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A: Yes. Spouses
and immediate family members are entitled to use Parkland Golf Club
Facilities subject to any applicable golf car, secondary locker rental
and other use fees, Parkland Golf Club’s Rules and Regulations,
and limitations on non-member use of the golf course at certain times,
An unmarried Equity Member may designate a domestic significant other
to have use privileges in accordance with the provisions in Membership
Plan. The immediate family of an Equity Member includes the unmarried
children of the Equity Member under the age of twenty-five (25) who
live at home with the Equity Member, attend school on a full-time
basis, or serve in the United States military. Other family members
will be treated as guests.
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Q: May I invite guests
to Parkland Golf Club?
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| A: Yes, Equity
Members will be entitled to have guests use Parkland Golf Club Facilities
in compliance with Parkland Golf Club’s rules and regulations
relating to guests and upon payment of any applicable guest fees and
charges. Guests will usually be entitled to use Parkland Golf Club
Facilities only while accompanied by an Equity Member, provided, however
that guests may be permitted to use Parkland Golf Club Facilities
unaccompanied by the sponsoring Equity Member in Parkland Golf Club’s
sole discretion. Guests may not bring guests. As Equity Member use
patterns increase, or for any reason, Parkland Golf Club may restrict,
limit or modify guest privileges from time to time. |
Q: What happens to my
membership when I pass away?
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A: Upon the
death of an Equity Member, the surviving spouse may elect to apply
to Parkland Golf Club to continue membership privileges. If the surviving
spouse applies and is approved for membership, the Equity Membership
will be transferred to him or her without the payment of an additional
membership Contribution, although an administrative fee may be charged.
An Equity Membership is not inheritable by children of the Equity
Member or anyone else designated in the Equity Member’s will.
if there is no surviving spouse, or if the spouse is not approved
for membership, the Membership shall be deemed resigned and shall
be assigned priority on the waiting list for reissue behind only other
deceased members.
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Q: When will members
acquire complete control of Parkland Golf Club?
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A: initially
Parkland Golf Club will be controlled by the Board of Governors appointed
by WCI. Turnover of control will occur upon the later of the issuance
of all Equity memberships held by WCI, or the conveyance of all residential
property held by WCI within Parkland Golf and Country Club, or an
earlier date determined by WCI provided Parkland Golf Club has operated
without an operating deficit for the previous one year (“Turnover”).
After Turnover, all of the representatives on the Board of Governors
will be elected by the Equity Members
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Q: Will Equity Members
be assessed for operating deficits?
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A: Until the
Turnover of complete management and control to the Equity Members,
Equity Members will not be subject to any assessments for operating
deficits. Prior to turnover, operating deficits will be paid by WCI.
After Turnover, the dues, fees and charges collected by Parkland Golf
Club should be sufficient to pay all the costs of operations. However,
if operating deficits do occur after Turnover, Parkland Golf Club
may assess each Equity Member for a portion of the operating deficit.
Prior to Turnover, WCI will also be responsible for the salaries of
any employees from other WCI Clubs, including but not limited to the
Parkland Golf and Country Club Sports Club, which it employs to work
at Parkland Golf Club. After Turnover, the sharing of employees between
WCI Clubs shall cease which will likely increase the cost of operations
for Parkland Golf Club.
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Q: Will I be subject
to any other costs if I purchase a homesite or residence in Parkland
Golf and Country Club?
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A: Yes, Medallion
Members are responsible for the payment of any and all amounts listed
in Parkland Golf and Country Club documents for Parkland Golf and
Country Club Foundation Inc. (“Association”). Any and
all amounts listed in Parkland Golf and Country Club documents that
you will pay to the Association, neighborhood Association, and NSID
or District, are subject to change in the future. It is very likely
that changes will occur and the amounts will increase, especially
as a result of the rise in insurance premiums, and these increases
will be beyond the control of WCI. You are advised to include the
potential increase in these amounts in your decision to purchase a
home or homesite in Parkland Golf and Country Club.
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Q: How will capital replacement
be handled under the Membership Plan?
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A: Each year
beginning January 1, 2004, Parkland Golf Club will budget for capital
reserves. These reserves will be utilized in that year or any other
year for capital replacements, repairs and additions. The amount allocated
for capital reserves will be 3% of Parkland Golf Club’s gross
operating revenues. Prior to Turnover, capital expenditures for repairs,
replacements and additions which exceed the amount of the capital
reserve shall be funded by WCI. In the event WCI funds capital expenditures
in excess of allocated reserves, WCI may, in its discretion, allocate
funds from another year’s reserve to repay WCI. Any capital
reserve allocations in excess of capital expenditures shall carry
over to the next year. Any such amounts advanced by WCI which have
not been reimbursed on or before Turnover, shall be forgiven by WCI.
After Turnover, if reserves are not adequate, Parkland Golf Club/
Parkland Golf Course reserves the right to levy capital assessments
against the Equity Members. Any such assessments shall not require
a vote of the Equity Members. After Turnover, the Board of Governors
reserves the right to levy extraordinary assessments for repairs and
replacements to Parkland Golf Club/ Parkland Golf Course Facilities
which result from hurricanes, fires, wars, Acts of God, the need to
replace turf and landscaping on Parkland Golf Club real property,
changes to requirements or additional requirements imposed by governmental
authorities, and any events beyond the reasonable control of WCI or
Parkland Golf Club. Any such extraordinary assessments shall not require
a vote of the Equity Members.
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Q: How do I become an
Equity Member?
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A: Membership
in Parkland Golf Club is available to individuals by invitation only.
Parkland Golf Club/ Parkland Golf Course may permit memberships to
be issued in the name of entities from time to time. Upon invitation
to apply, an application for membership will be forwarded to the prospective
Equity Member.
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Q: How
can I obtain more information about Parkland Golf Club/ Parkland Golf
Course and its membership opportunities?
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A: if you have
additional questions or would like further information, please contact
Parkland Golf Club Director of Golf at the following address:
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Parkland Golf Club
Dave Salerno, Director of Golf
11575 Heron Bay Center Drive
Coral Springs, FL 33076
(954)575-4200 |
| These questions and answers are summary in nature and
are for information purposes only. We have attempted to answer the
most frequently answered questions concerning Equity Membership in
Parkland Golf Club. Prior to acquiring an Equity membership, you should
thoroughly review the Parkland Golf Club Membership Plan and its Exhibits.
Notwithstanding the information contained in these questions and answers,
the Membership Plan documents and Membership application control the
terms of Equity Membership. This document may not be relied upon as
a basis for a decision to acquire a membership at Parkland Golf Club
or property in Parkland Golf and Country Club. Ownership of property
in Parkland Golf and Country Club does not convey any rights in or
to use Parkland Golf Club/ Parkland Golf Course facilities. |
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