Regulations Governing the use of
The Walden Golf Club, L.P.

Following certain established procedures is necessary to insure maximum safety and enjoyment of Walden Members and guests to preserve the course. It is hoped that the pride we take in the Club and its facilities, together with the thoughtfulness and consideration we afford our fellow members, will be evident in the observance of these regulations. These regulations are subject to change by Walden Golf Club, L.P. (hereinafter, “Club Operator”).

∙ GENERAL PROVISIONS ∙

1. Club Operator has issued memberships which give the members the right to use and enjoy the facilities of the Golf Club, subject to the terms in these regulations. The Golf Club and its facilities are owned by Club Operator. Members of the Golf Club have no propriety interest in the Golf Club, its facilities, or in Club Operator.
   
2. Membership may be held by any person eighteen (18) years of age or older and who is of good moral character and is otherwise acceptable to Club Operator.
   
3. Club operator may extend the right to use and enjoy the facilities of the Golf Club to “honorary members” who may include, without limitation, clergymen, judges of courts or record, official representatives of foreign governments and the local press, subject to such terms and conditions as are determined from time to time by Club Operator.
   
4. Club Operator has the right to create additional classes of members, and may establish such rights and qualifications with respect thereto as it deems appropriate.
   
5. Club Operator may establish a maximum limit on the number of members. Once a limit has been so established, Club Operator has the right to alter such limit either by increasing or decreasing the same.
   
6. All membership applicants must be in writing, must be delivered to Club Operator and must be in the form prescribed by Club Operator. All applicants and applications must meet the eligibility requirements set forth in these regulations and as otherwise established from time to time by Club Operator.
   
7. In the tradition of private golf Clubs, Members are expected to conduct themselves in a manner that is conducive to decency, thoughtfulness, and a superior level of ethics. Any offensive, discourteous, or callous behavior towards fellow Members or Staff will not be tolerated.
   
8. All dues are payable monthly in advance and all other indebtedness to the Golf Club is due and payable on the first day of the month following the month incurred. The names of members whose dues or other indebtedness to the Golf Club remains unpaid for a period of forty-five (45) days may be posted upon the bulletin board of the Golf Club, and such unpaid balance shall bear interest at the rate determined from time to time by Club Operator. If a member’s name has been posted on the bulletin board for unpaid dues or other indebtedness, no further credit will be allowed such person by the Golf Club until such indebtedness has been paid in full.
   
   

∙ TRANSFER OF PRIVILAGES ∙

Members who have purchased a transferable membership may transfer their privileges in accordance with the following provisions.

1. A member may transfer the privileges extended by his or her membership to a party provided that (i) the member is current in his or her financial obligations to the golf Club, (ii) the proposed transferee is approved by Club Operator, and (iii) there is paid to the Club Operator a transfer fee as determined by Club Operator.
   
2. To initiate such a transfer, the member must first give the Club operator written notice of (i) the name and address of the proposed transferee, (ii) all information required by Club Operator in connection with a new application, and (iii) the amount to be paid to the member by the proposed transferee. Club operator shall have the right for a period of thirty (30) days following the receipt of such written notice to reacquire the privileges for a sum equal to the lesser of (i) the amount to be paid to the member by the proposed transferee, or (ii) the original initiation fee paid in cash by such transferring member to the Golf Club for such membership. In the event that the Club Operator elects not to reacquire the privileges within said thirty (30) day period, the member may transfer the privileges to the designated party provided that (i) Club Operator approves such transferee, and (ii) there is paid to the Club Operator a transfer fee determined by Club Operator.

∙ USE OF THE COURSE ∙

All facilities of the golf club shall be extended to a golf club member and the family of the golf club member. The word “family” shall mean the member, the spouse of the member, and the unmarried children of the member under the age of twenty-three (23) years provided that such unmarried children either reside with the member or are full-time students at a school, college, or university.

1. Before playing, members and guest must register in the Golf Shop.
   
2. Each player must have his own bag and set of clubs.
   
3. All play must commence from the first tee, unless otherwise directed by the Golf Professional or his staff.
   
4. Play with undue delay. A group is deemed out of position when starting play of any hole which is clear of all players and the elapsed time for the round exceeds 15 minutes for each of the holes completed. In particular, players stopping between nines for lunch lose priority at #10 tee and must re-register at the Golf shop.
   
5. All players are required to exercise reasonable care to preserve the course.
   
   1. Repair ball marks on greens.
   2. Rake and smooth bunkers.
   3. Repair divots.
      
6. No match consisting of more that four (4) players shall be permitted unless by special permission from the Golf Professional or his staff.
   
7. The golf course and practice areas may be temporarily closed from time to time because of inclement weather, repair, or other necessary reason.
   
8. Practice is prohibited on any part of the golf course.
   
9. Pets are not allowed on the golf course nor in or around the clubhouse area.
   
10. Use of the golf course is strictly reserved for registered members and guests playing golf.

    
    
    

∙ VIOLATIONS OF REGULATIONS ∙

1. The responsibility to report violations is with all members, the Golf Professional, the Course Superintendent, and the Golf Marshall. Violations should be reported to the Golf Shop who will present them to Club Operator for consideration and appropriate action.
   
2. All reports and suggestions shall remain confidential and shall remain in the possession of the Club Operator.
   
3. Violation of regulations will be handled in the following manner:
   
   1. Upon report of violation, member will be notified of reported breach and the proper etiquette example for future reference.
      
   2. Deliberate or repeated violations will result in suspension or termination of a member’s privileges.
      
4. Members whose dues or other indebtedness to the golf club remain unpaid for a period of 45 days shall be suspended from play. The privileges extended to a member may be suspended or terminated by Club Operator for failure to pay his indebtedness and dues to the golf club, for unbecoming conduct, for persistent refusal to conform to the regulations of the club, or if the party no longer qualifies for the type of membership which he holds, provided such member has been first given reasonable notice and an opportunity to speak on his own behalf.

∙ GOLF CARTS ∙

1. Only authorized golf carts leased from the golf club will be permitted on the golf course.
   
2. Carts shall be operated in a careful manner by each operator.
   
3. Carts MUST remain on paved paths when within 50 yards of all tees and greens and at all times on par 3 holes.
   
4. Carts may only be operated by persons 18 years of age or older who possess a valid drivers license.
   
5. Only two persons may ride in a cart.
   
6. Only two golf bags may be carried in any one cart.
   
7. Any party using a golf cart shall be responsible for any damage caused to the golf cart or other property and for any injury caused to any person.
   
8. Hand or pull carts are prohibited.
   
9. Use of golf carts is restricted to the golf facilities and only to transport golfers and their golfing equipment while playing at Walden Country Club.
   
   

∙ TEE TIME SCHEDULING PROCEDURES ∙

1. Advance reservations are required for play.
   
2. One starting time is allowed per member per day. Additional times may be allowed subject to available space.
   
3. Weekday starting times may be secured 7 days in advance.
   
4. Weekend starting times may be secured as follows:

     Groups of 4 golf members

1. To secure a Saturday time, the group captain of 4 current golf members may call beginning at 8:00 a.m. on the Tuesday prior.
   
2. To secure a Sunday time, the group captain may call beginning at 8:00 a.m. on the Wednesday prior.
   
3. The golf member (group captain) shall provide the names of all players in the group.

     
     Groups of fewer than 4 golf members

1. To secure a Saturday time, the member may call beginning at 8:00 a.m. on the Thursday prior.
   
2. To secure a Sunday time, the member may call beginning at 8:00 a.m. on the Friday prior.

∙ GUESTS ∙

1. A guest is a person invited by a member to use the Walden golf facilities
   
2. Members shall accompany any and all guests. However, members may arrange for unaccompanied guests to play on a space available basis on Monday through Thursday (excluding holidays).
   
3. The sponsoring member of a guest is responsible for the registration and fees for the guest and shall be liable for any fines levied by reason of violation of these rules as well as any damage to the golf facilities.
   
4. Dan McIntyre, his respective family and guests, and Club Operator shall have the right to the use of all facilities of the golf club.
   
5. A specific guest is limited to twice in one month and ten times in one year.

∙ DRESS CODE GOLF COURSE AND PRACTICE AREA ∙

Members and their guests shall be properly attired when on the golf course or practice areas. Shirts must be worn at all times. A member shall be fully responsible for the manner in which his/her guest is attired.

Men:             Shirts must have collars and sleeves and tails must be tucked in. T-shirts and                     tank tops are unacceptable.

Women:        Halter tops, tube tops and crop tops are unacceptable.

Juniors:         Junior Golfers (under 18) may wear T-shirts at the discretion of the Golf Shop                    staff.

Shorts:         Shorts shall be at least mid-thigh in length and hemmed. Cutoffs, bathing                    suits, jogging or gym shorts and bicycle shorts are unacceptable.

Jeans:           Jeans are unacceptable.

Shoes:          Only alternative or spikeless golf shoes are permitted. Spikes or high heels are                    not acceptable footwear on the golf course.

∙ DRESS CODE CADDYSHACK RESTAURANT ∙

Men:          Men’s shirts must have sleeves.

Shorts:        Shorts must be at least tennis short length and hemmed.

Bathing Suits:  Bathing suits are unacceptable.