@a/ea 0/ gmmc?wgw . June 1, 1999 EXHIBITA. GOLF CLUB RUTES OF THE TRUMP 'fVTERflAT'OAfAt Trump lntemational Gotf Club (the'Club") and following Rules, as amended from time to time: its properly shall be subiect to the No person seeking membership and no guest shallbe discriminated againsf on lhe basis of race, color, religion, gender, national orígin, disability, age or maritalsfafus. I. MEMBERSHIP, A. Golf Members shall ôe such persons wfro, conditioned upon paying the required membership deposit, in effect from time to time, have been regularty elected to Golf Membership by a duly appointed Admlssions Committee (the 'Admissíons Cammittee") of the Ctub. Golf Members will be entitled to use all of the golf , clubhouse and dining facilities of the Club. Golf Members will not be required to pay greens fees butwill be required to pay other fees and charges sef öy the Club. B. Corporate Members. A Corporate Membershþ rs a membe¡ship issued to an operating entity (i.e., a partnarship, trust or corporation) with an on-going business purpose. The membersfrip will be lssued in the name of the entity upon payment of the requíred membership deposit and the entity will designate three individuals who will be permitted fo use the Club Facilities. Each individual designated by the entity must either be a director, officer, paftner, shareholder or employee of the entity and each m ust submit an Application for Memberchip and be approved by the CIub. Annual dues must be paid for each of the three corporate desrþnees regardless of the number of corporate designees actually designated at any pafticular time. The entity may change a corporcte designee upon payment of the redesignation fee charged by the Club. The Club reserves the right fo establrsh from time to time the rules goveming the designation of an índividual as the corporate designee including establishing limits on the number of times designations may be changed. Corporate desþnees of a Corporate Memberchip are refened to herein as Golf Members or members except when the term Corporate Membershþ is used or for purposes of membership ownership and membership deposit repayment. The ferms of repayment of a Coryorate Membef s membership deposit and other specific memberchip terms are sef fotth in the Corporate Member's Application for Membership. C. Family Use. A membership will be ín the name of an individualor an entity; however, the members of the immediate family of the membe¡¡will be entitled to use the Club Facilities wÍhout the payment of guesf fees.f The immqiflîate family of thegnember includes the membels spouse and their unmanied childrer/underthe age of 26Who are living at home or attending school'on a full-time basis./Other family members will be treated as guesfs, subiecf fo guesf rules, regulations and fees. D. Number of Golf Membqrs. The Club intends to offer 350 memberships with futt golf privileges. The number of Golf Memberships may be increased if the Club's golf facitities are expanded. A corporate designee of a Corporate Membership with restricted tee times will not be counted as a membership with fullgolfing privileges. E. MemberJ.hio Admission. (1) Membership in the Club is by the invitation of members or the Admissions Committee. A member wishing to invite an individual for membership must obtain a Membership Application from the Club. Responsibility for completing the form rests with the proposeq incomplete forms will not be considered by the Admissions Committee. The Admissions Committee is appointed from time to time by the Club owner and is comprísed of individuals se/ected by the owner in ifs so/e discretion. (2) The Admissions Committee will evaluate a candidate and will thoroughly screen each individual to assure he or she satisfes criteria esfablisäed from time to time by the Admissions Commiftee, provided, however, that no individualshall be díscrimínated against because of race, color, religion, sex, nationalorígin, age, disability or maritalsfafus. Membership criteria will include, but will not be limited to, chancter, compatibility with other membe¡s and reputation in social, busrness, community and financial acfivities. Members shall endors e only candidafes well known to them and whom they can recommend enthusiastically. (3) An interview with the candidate and the candidate's spouse may be required. However, the Adnissions Commíttee, by unanimous vofe, may waive the requirement of an inte¡view. (4) Files of the Admissions Committee, including without limitation /efters proposal of and recommendation, shall be confidential, and shall be available only to members of the Admissions Committee, designated executive personnel of the Club and the Trump Organization and Club counsel. (5) Corporate designees of a Corporate Membership are proposed and approved in the sal'ne manner as members. (6) Each member shall receive a Ceñifìcate of Membership in his or her name alone. The Certifîcate of Membership of a Corporate Memberwillbe Lssued to the entity not to a corporate designee. Memberships may be transfened only through the Club and are not transferable in any open mafuet. F. Other Memberships. The Club will initially offer only Golf and Coryorate Memberships. The Club reserves the right to issue other types of memberships in the future. Sucñ memberships, if rssued, will be entitled to such prívileges and subject to the 2 payment of such dues; membership fees and other fees and charges, and such other terms and conditions as may be established by the Club from time to time. G. Maniage or Divorce. A member shall notify the Club in writing of his or her maniage, remaniage or divorce. ln the event of separation or divorce, the memberchip remains with the indiviciualdesignated as ff¡e member on the Membership Application, in the absence of a court orderor agreement between fhe spouse s (with notarized signatures of each) to the contrary. H. Resiolation. Any member may resign from the Club by written notice to the Admissions Committee, provided all indebtedness to the Club has been paid. Upon resignation, prepaid annualdues willbe refunded on a prorata basis based on the number of months remaining in the Membership Year. t. Exputsion and Suspension. lf any member is charged in writing, addressed to the Admissions Committee by any member or the Club's management, with conduct injurious to the good order, welfare, interest or character of the Club, or with any infraction or abuse of the Ctub's ru/es and regulafions, the Admissions Çommittee shall theieupon notify the member so charged and the individualso charged willbe given an opportunity to be heard. The Admissions Committee, if it shall be satisfîed of the truth of the charge, may either expel or request the resignation of such member or order suspension of such individual's prívileges. Att dues and fees must continue to be paid during any suspension. A member who is expetled from the Club will only be entitled to repayment of his or her membership deposit, /ess any amounts owed to the Club, thirty (30) years from the date of his or her admission. The Club also reserues the right to prohibit use of the CIub by any individual using the Club by virtue of the membels membership for the reasons outlined in this paragraph. J. Death. Upon the death of a member, the suruiving spouse, if any, may continue memberchip prívilegeswithoutthe paymentof any additionalmembership deposit. lf the su¡viving spouse continues membership privileges, fhe membership willbe deemed resigned upon the eartier of the suruiving spouse's resignation or death. lf the deceased member is not suruived by a spouse or the suruiving spouse does not desire to continue membership privileges and the spouse so notifies t/re Club, the membership will be deemed resigned as of the date of the membef s death. The membership deposit will be paid to the deceased membels esfafe or the esfafe's assignee and not to the suruiving spouse upon the earlier of (a) lhirty (30) years from the date of the membels admission to the Club, or (b) thirty (30) days after the reissuance of the membership by the Club (once resigned) as provided in Secfion lll.A. of these Ru/es. In orderto assign fhe esfate's interest in the membership deposit, the Club must receive written notice from the authorized estate representative within six montf¡s of the date of the membels death. K. Dispufes. Only one person, his or her unseparated spouse and the qualified children of each may exercise the privileges of membership at any time. ln no case yvillthe 3 Club become involvedin dþufes between separatedordivorced spousesorrnvolvingthe heirs of deceased members, or in disputes over the ownerchíp of membershþs. ln the case of such dispufes, fâe Club may (but will not be required to) at any time suspend all the privileges associated with the membership in question until such dispufes are resolved and the Club receives evidence satisfactory to it of the resolution of such dispufes. During the pendency of the dispute, all dues and charges musf continue to be paid and failure to pay all dues and charges may result in expulsion of the member. II. GUESTS. A. Geqeß!. (1) The conduct and behaviorofguesfsisfhe responsibility ofthe hosting member. (2) A member shall not introduce as a guesf any person that has been expelled from the Club. B. Golfíno Guests shall be such persons as are introduced by Golf Members fo use fhe Cfub's golf facilities. Charges shall be in accordance with a scfiedufe of charges promulgated by the Club from time to time. (1) A golfingguesf must be registered in the ProShop by a Golf Member prior to use of the CIub. A Golf Member must register an unaccompanied golfing guest by sending a written request naming the guest and designating the requested date of use. A Golf Member may designate unaccompanied guesfs up to four times per memberchip year. Accompanied guesfs must be with the sponsoring member at alltimeswhile on the Club premises. (2) A golfing guesf may not invite or introduce any other guests. (3) Charge vouchers may be signed by a guesf with a valid guest card or a Golf Member. Iåe sponsoring member is responsible for allcharges. (4) A parTiculargolfing guesf is/lmifed to one golfing visit permembership year regardless of fhe number of sponsoring members. Golf Members are requested to use care to keep golfing guesfs within the stated limit as guesfs who have exceeded the limit will be denied access. C. Dining/Clubhouse Guests shall be such persons as may be introduced fo use the Clubhouse by members. No guesf fee will be payable for a guest solely to attend a regular meal seruíce. Other guesf fees shall be in accordance with a schedule of charges promulgated by the CIub from time to time. 4 (1) Guesfs attending specialevents and unaccompaniedguesfsmusf be registered in advance. A member may register an unaccompanied dininglclubhouse guesf by sending a written request naming the guest and designating the requestèd date(s) of use. (2) Chargeyouchers may be signed bya guesf with avar,dguesf card or a member. Ihe sponsoring member is responsible for all charges. (3) The restrictions of four visits for a pafticular guest and four designations of unaccompaníed guesfs applicable to golfing guesfs do not apply to di n ing/cl ub ho use guesfs. D. Housequesfs shall be such persons as may be guesfs residin g with members in residence in their Florída homes. Sucl¡ persons may receive weekly houseguesf cards. The charge shall be in accordance with a schedule of charges promulgated by the Club from time to time. Houseguesfs are not exempt frcm any use fees. (1) A houseguesi card will be rssued to the sarne guesf or the guesf's family only two weeks per season except that children of members (who do not have prívileges as "immediate family members") and grandchildren of membe¡s may be eligible for houseguest privileges of up to four weeks per season. ln the discretion of the Club, houseguesfs Ø¡o reach their limit may be eligible to continue on a weekly basis. (2) All houseguesÍs must be registered with the Club prior to use. The sponsoring member is responsible for all charges incurred by houseguesfs. Charge vouchers may be signed by a houseguesf with a valid guest card. (3) The Club may restrict or suspend entirely the issuance of houseguest (4) A houseguest may not intrcduce any other guests. (5) A member cards. may sponsor houseguesfs up to four tímes per memberchip year, E. Revocation/Restiction of Gu.est Privileges. Use of the Club by guesfs is a privilege, subject to the control of the Admissions Committee, which may at any time and without fhe assign ment of any reason therefore, refuse to grant the privilege requested or revoke any prívilege theretofore granted. The Club also reserues the right to place and modify resfnbfi'ons on guesf use in lts drscrefion. 5 III. DEPOS'I. DUES AND CHARGES. A. Membershþdeposifs shall be repaidtoGolf Members upon the earlierof (a) thirly (30) years from the date of the Golf Membels admission to the Club or (b) thirty (30) days after the reissuance of the membership by the Club (once resigned) as provided in this paragraph. At the end of thirty (30) years, a Golf Member may choose fo continue his or her membership privileges by leaving his or her depositwith the Club untilsubseguenf resignation. lJpon a Golf Membels resignation after the thitty (30) year period, the Club will repay his or herdepositwithin thirty (30) days afterthe resignation date regardless of when the Club actually reissues the membership. Membership terminates upon resignation whether resignation occurs before or after the 30-year anniversary of admission. The Club may set off against the membership deposit any amounts owed to the Club on the date the membership deposit is repaid. Reissuance willcommence on a first-resigned, first-reissued basis after the initialissuance of all memôershþs with full golfing privileges. Membershþ deposlfs and all other Club revenues are the property of the ownar of the Club and may be used for any purpose, in its sole discretion. B. No membership deposit will be repaid with interest. The right to recëive the repayment of a membership deposit rs nof transferable or negotiable. ,The repayment of a membership deposit shall constitute a general release of the Club from any liability related in any way to the Club. Notwithstanding any other provision of these Rules, the Club may rn ifs so/e discretion cancel any membership at any time and, in such case, refund such membels deposit without interest. C. Membershþ deposds, membershíp annual dues, charges forguesfs, dining expenses, facility usage fees, and handicapping fees, plus applicable sales tax, shall be charged in accordance with a schedule of charges promulgated by the Club from time to time. A seruice charge determined by the Club from time to fime rs added to allfood and beverage checks. Members may be notífied of other fees or charges from time to time. D. The Club's Membership Year commences on November 1 and ends on October 31 . Membership annual dues are payable on orbefore November I of each year and are applicable to the upcoming membership year, The membership of any member not paying his or her dues and the Florida Sfafe Tax on sard dues on or before said date may be discontinued by the Club, unless for reasons suômdfed to and apprcved by the Admissions Committee. The Club will provide a member with fifteen (15) days' wrítten notice priorto the discontinuance becoming effective. Discontinuance is administrative arid will become effective without a hearing. Dues will accrue only for the fi¡st year for which they were not paid. ln the C/ub's sole and absolute discretion, a discontinued membership may be reinstated upon payment of all outstanding dues, fees, charges, inferest and collection fees p/us an additional 10% of such amounts. Reinstatement would pemit the member to continue'the membership or to properly resign the membership, making the member eligible for an earlier refund of his or her membership deposit. lf the member is not reinstated, he or she will have no right of refund until thirty (30) years from the date of his or her admission, at which time the membership deposit witt be refunded, /ãss any 6 amounts owed to the.Club. applicable membership cap. A discontínued membership rs nof counted toward any E. All indebtedness to the Club must be paid promptly when billed. The membership of any memher not paying an indebtedness by the last day of the month in which statement therefor has been given or mailed is delinquent and will be subiect to interest at the maximum rate allowable by law until paid. A delinquent membe¡ship may be discontinued and reinstated in accordancewith the ferms of paragraph lll.D. The Club shall be entitled to receive reimbursement for all reasonable expenses, including collection fees and attomeys'fees, incuned in the collection of any Club charges. /f is the membef s responsibility to ensure that the Club has his or her cu¡¡ent address. F. Members are responsible for all charges incured by family members and guesfs introduced by them and for damages caused by such persons. G. Members will not be subject to any capitalor operating assessmenfs. The Ctub witlbe responsible for atl of such cosfs and will be entitled to all capital or operating profits. The payment of a membership contribution, dues, fees and other cfrarges ís required to maintain a membership and is nof consídered a capítal or operating assessmenf. H. The Club makes no representations and expresses no op inions regarding the federal or state income tax consequences of acquiring a membership or repaying allor a poftion of the membership deposit without interest. All members acquire their membershþs subiecf to all applicable tax laws as they may existfrom time to time. Certain provisions of the lntemal Revenue Code impute interest income to a lender with rcspect to a non-interest bearing loan. lt does not appearthat ff¡ese provisions cunently apply to the membership deposit. The lntemalRevenue Service may, howeve¡ issue regulations which might impute interest income to a member. Members shou/d consult with their own tax advisor with respect to the tax consequences of paying the membership deposit and the Club's non-interest bearing obligatíon to repay the membership deposit. IV. RESTR/CTIONS. A. Property of the Club shall not be removed from the premises without permíssion of the Club. B. No political busrness or charitable solicitation shall be effected on Club property or with fhe use of Club stationery or other utilization of the Club name without the prior approval of the Club. C. Nocommercialorpoliticaladvertisementornotice of anykind shallbe posted or circulated in the Club without the prior approvalof the Club. D. No professrbnal photographers will be allowed to take pictures at the Club except at a private party given by a member. 7 E. F. Smoking'will not be permitted on the Club indoor premises. lMith respect to evening Club activities requiring reseruations, a charge will be made for reseruations not canceled by 12:00 noon on the same date of the event. Wth respecf to daytime CIub activities requiring reseruations, fhe reseruation mustbecanceled by 12:00 noon on the day prior to the event. G. The Club may withhold the retum of an automotive vehicle which has been given to a valet to park in the event the Club, rn ifs sole discretion, determines that the driver is impaired and unable to drive. H. Nomembershallpermif fheuse oftheClubroster,ormembershiplist,forany purpose whatsoever except for the membels persona/ use. /f såa ll not be loaned or used as a source of mailing or solicitation for any other Ìeason, whether for business, philanthropic solicitation or communal or civic reference, etc, l. The Club will comply with allfederal, state and local laws pertaining to the sale and seruice of alcoholic beverages. Alcoholic beverages will not be serued or sold, nor permitted to be consumed, on the premises during houts prohibited by law. Club employees may, at their discretion, refuse to serue alcohol to any percon who appearc to be intoxicated or on the verge of being intoxicated, J. No pefs are permitted on Club or golf cource grounds, with the exception of seeing-eye dogs. K. Membe¡s are not permitted to use any Club employee for personaletrends outside of the Club unless the employee is off duty. L. Members may not make any aîangements fo use the Qlubhouse facilitiesfor any affairs without permission of the Club Manager and alldecorations, entertainment, vendors and suppliers musf be approved in advance by the Club Manager. M. Members are notpermittedto bringfood,liquororcontrolled suôstancesonfo any part of the Club property. N. Robes or wraparounds must be wom in locker rooms by members and O. Jogging, bicycling or skafeboarding rs not permítted anywhere on Club guesfs. property. Recreationalwalking P. r.s nof permitted on the golf course. Wagering and gambling are not allowed. V. PROPERIY DISCLAIMER, Each member as a cond¡t¡on of membership and each guesf as a condition of invitation to the premises of the Club assumes so/e responsibility for his or her property. The Club will not be responsible for fhe loss of or damage to, I property rece¡ved or held on behalf of members or guesfs or kept by them at the Club, whether in lockers or elsewhere, and whether sucfi /oss or damage is due to negligence of the Ctub or any of its employees or agents or otherwise nor will it be responsible for errors, mistakes, negligence or dishonesty of rnessengers or other employees or concessionaires, norforthe loss of or damage to, any property entrusted to any employee or concessionaire. Vl. RELEASF. ln consideration and as a condition of invitation to the Club premises, any member, guest or other person who, in any manner, makes use of or accepfs fhe use of any apparatus, appliance, facility, privilege or seryice whafsoever owned, leased or operated by the Club, or who engages in any contest, game, function, exercise, competition or other activity operated, organized, ananged or sponsored by the Club, either on or off the Club's premises, shall do so af hrs or her own risk, and shall hold the CIub and its affiliates, operator, directors, governors, officers, employees, representatives, agenfs orconcessionaires harmless from any and all loss, cost, claim, injury, damage or liability sustained orincuned resulting therefrom and/orfrom any act, omission, negligence, malfeasance or misfeasance of the Club or its affiliates, operator, directors, govemors, employees, representatives, agents or concessionaires even though that liability máy arise out of the negligence or carelessness of the entities or persons released. All parties bound by these Club Rules understand that this release includes any claims based on the negligence, actions or inactions of any or all of the persons released herein. Such bound parties also understand that activities at the Club are ínherently dangerous and that access fo úåe Club includes ffie risk of serious injury or death from errant balls and other ceuses. Sucå bound pafties accept all risks of access to the Club. Any member shall indemnify, defend and hold harmless the Club and its affiliated operator, directors, governors, officers, employees, representatives, agents or concessionaires hereunderfrom any loss, cost, claim, injury, damage orliability susfalned or incurred by any guest of that member or any family member or seruant of such member. No member shall have any right of action against the Club or any of its officers, directors, agents, employees, orconcessionaires, to recoverlossesordamagesforinjuries to the person'or propefty of such member or the seruant or se¡vanfs of such member, due to negligence, malfeasance or misfeasance of any of its officers, directors, agents, employees orconcessionaires. Acceptance orcontinuance of membership by any person sf¡a// so far as permitted by law be a waiver and surrender by such member of any such right or action. Should any pafty bound by these General Club Rules bring suit against the Club or its affiliates, operator, directors, governors, officers, employees, representatives, agenfs orconcessionaires for any event operated, organized, ananged orsponsored by the Club or any concessionaire or any claim on any matter and fail to obtain judgment therein against the Club or its affiliate, operator, director, governor, officer, employee, representative, agents or concessionaires, said party shall be liable to the Club and its affiliates; operator, directors, governors, officers, employees, representatives, aggn[s ot: concessionaires for a// cosfs and expenses incurred by it in the defense of such suit (including court cosfs and attorneys fees through all appellate proceedings). Each 9 member acknowledges fhaf a// aspecfs of membership will occur in Palm Beach County, Florida and therefore irrevocably and unconditionally (a) agrees that any suit, action or legal proceeding arising out of or relating to membership will be brought in the courfs of record of the Sfafe of Ftorida in Palm geaôn County; (b) c'onsents to the jurisdiction of each such cou¡t in a suit, action or proceeding; (c) waives any objection which he or she may have to the laying of venue of any such surt, action or proceeding in any such couft; and (d) agrees that service of any cour-t paper may be effected on such party by mail, underthe applicable laws or court rules in Florida. Vll. COMPTAINIS OF SUGGESI/ONS. /ssues conceming the management, sevice, or general operation of the Club should be in writÌng, signed by the member and addressed to the Club's General Manager or to the appropriate Committee chairperson. Reprimanding or abusing employees is forbidden. Vlll. REG/SfRAflON. Membersshallregisterthemselves,theirfamiliesandtheirguests each time they visit the CIub. lX. ATTIRE. Attire should meet the standards of good taste expected from mèmbers guests and of the Club. Proper golf attire must be worn on the golf canrse and practice areas at all times. Go/f s/acks or bermuda-length shorfs for ladies and gentlemen are considered appropriate, öuf shorf shorts, jogging shorts, jeans, cut-offs, gym shorfs, tennis shorfs, swim shorfs and tank lops are not considered appropriate attire. As a guide, shorfs should be not more than 4" above the top of the knee. Sfirrfs MUST have a collar. Only sofrsprke golf shoes are allowed on the golf course and practice areas. Changing c/ofhes orshoes in the parking lot is not permitted. Changing is permitted in the locker room only. To avoid embanassment, members should inform their guesfs of fhe dress requirements. The Club or ds designated representative shall be the sole judge of the propriety of any attire. X. CHILDREN. A. ln General. Members are responsible at all times for the behavior on Club propefty of their children and grandchildren (hereinafter called children), and for the behavior of any other children who may be their guesfs. Children under 16 years of age are not permitted unattended on Club property except in accordance with the junior golf provisions below. Children whose parents are playing golf are considered to be unattended. Children must behave at alltimes with due consideration forthe comfoft and enjoyment of others; parficular care is appropriate. B. Junior Golf. (1) All junior play (under 16) shall be subject to the superuisrbn of the Director of Golf. 10 (2) Junior golfers may play without an adult, subject to the following conditions: (a) a junior golfer must be ce¡'tifred by the Directorof Golf and must catry a cerlification fag issued by the Club authorizing him or her to play unaccompanied by an adult. This tag must be in the possessrbn of the junior golfer at all times when playing; and (b) iunior golfers must register at the Pro Shop before starting play and the Director of Golf, his professional assisfanfs or the Caddie Master must approve the junior golfels playing at the particular time. (3) Junior golfers not accompanied by an adult golfer must allow adult golfers to play through on request if there is an open hole ahead, except when junior golfers are competing in a Club sanctioned event. (4) PIay by junior golfers at times other than those normally allowed for them may be permitted at the discretion of the Director of Golf. Xl. AGREEMENT TO RULES. Payment by a member and use of the Club Facilíties shallbe deemed knowledge and acceptance of these Rules, and any amendmentsthereto. Ihe Ru/es may be modified from time to time in the Club's discretion. All facilities, equipment, hours of operation, serurces and policies are a/so suö1'ecf to change in the Club's discretion. No modifîcation or change shall require notice to any member or impose any liability on the Club. Xll. INTERPRETATION. The Club shall have the sole right to interpref ffiese Rules. Xlll. WAIVER. At any time and from'time to time, the Club may waive any Rule (or any pañ of any Rule) if such waiver is deemed by the CIub to be in the best interesfs of fhe Club or if any Rule (or any part of any Rule) is judged by the CIub to result in individual hardship or lack of faimess. XIV. GOLF POLICIES, A. Greens Fees. (1) The Stafter has been instructed not to permit any guest to play golf unless a guest greens fee slip is presented. (2) A guest greens fee will be canceled at the membels request if six (6) holes orless are played, provided play is terminated when the course is deemed unplayable. The course is deemed unplayable by the course superintendent, golf professlbnal andlor general manager onlY. (3) A no-show fee will be charged for tee fmes if the member dees not cancel an unwanted reseruation at least twenty-four (24) hourc in advance. 11 B. Sfarfer. (1) (2) Att ptay onþrnafes from the Pro Shop. LAnder no circumstances sf¡all any group start play before registering with the Pro Shop. The Pro Sfrop has been instructed not to register any team until all its members are present atthe frrsf tee, ready to commence play. (3) (4) c. Players musf fee off on the hole designated by the Sfarfe¡r commenced, it shall proceed Skipping of holes is not permitted. Once play is in proper seguence. (5) Golf clubs and golf cafts may be ordered only through the Starter or Caddie master. All players must have a sef of clubs. Only golfrng members and registered guesfs are allowed on the course. (6) The Staftersl¡al/ use his discretion at busy periods to allowfoursomes and threesomes to staft before twosomes. Sinde players will be permifted to play only atthe discretion of the Stader, and neverduring the busy periods. Srng/es and twosomes, when permitted to play, have no special standing on the course to play through other players. Foursomes shall have the right-of-way. Fivesornes are not permitted unless approved by the Stafter. Golf Rules. The rules of the Uníted Sfafes Golf Assocrãtion, together wíth the Rutes of Etiquette of Golf, as adopted by the USGA, shall be the rules of the Club, except when in conflict with local rules or any of the rules hereinafter stated. Decisions of the golf professional shall be final. (1) All players must register with the Starter and begin play at the time and place which he designates. Players may reseve a tee time through the Pro Shop. Sígn-up privileges will be determined by the Club from time to time and may vary between Golf and Coryorate Memberships and other memberchip categoríes. (2) Pace of play is a priority at Trump lntemational Golf Club. All players are requested to maintain a reasonable pace. lf a match fails to keep its place on the course and loses more than one clear hole on the players in front, it should invite the party following fo pass. At times when the course is crowded, a ranger may be utilized to expedite play. Rangers have full authority on the course. All playerc are expected to comply with the rangels reguesfs. (3) Groups coming off the 9th green have the right-of-way on the 10th Tee. PLAYERS MAY SIARI THEIR ROUND AT THE 10TH ONLY 12 WITH THE PERMISS/ON OF THE STARTER. Groups stopping after the 9th for lunch or any other reason thaf causes a delay of more than five minutes musf repoft to the Starter before resuming play on the 1qth. (4) Practicing shall be confined to the designated pnctice areas. Practice balls are not permitted on the golf course at any time. (5) Golfing guesfs shall be registered with the Pro Shop and guest fee sþs musf Þe presented to the Starterbefore play. A pafticularguest may play no more than four (4) times a membership year regardless of the number of sponsoring members. (6) AII players musf have a USGA (United Sfafes Golf Assocrafion) cunent handicap in order to compete' in member toumaments. (7) The condition of the course is fhe responsibility of each memberfor the greater enjoyment of the members and their guesfs. The Club reguesfs all players ' to: a a (8) (9) Repair ball marks on green. Fill in divots with sand provided. Enter allbunkers from the lower pañ. Rake bunkers upon exiting. The caddies are employed directly by each player, who is responsible for the conduct and peíormance of his or her caddie. Caddies shall not swing clubs or lay golf bags on the greens or aprons of greens. Members are requesfed to report to the Golf Professrbnal ar Caddie Master any caddie who does not perform his duties satisfactorily. At all fimes, a caddie must accompany a player whether or not a cart is used, with at least one caddie for two players. Members may not ínstruct or reprimand the Stañer, CaddÍe Master, Golf Course Superintendent or Professiona/s regarding the performance of their dutíes. All complaints andlor suggesfions conceming the golf course and golf play must be registered with the Golf Professional. (10) only. No chipping onto the practice putting green areas. Piease use sfiorf game practíce areas for chippíng. (11) lMhen lightning is in the area, play must cease without exception and The practice putting green is for putting players should seek the shelter of the nearest buílding. 13 D Carts. (1) Carts must be d¡iven on ca¡t paths where they exist, They may not be dríven closer than 10 yal{lsfrom bunkers and the apron of greens or immediatety adiacent to or on the fees. Carts are to be pafued on the path adjacent to the green once the playef s ball has reached the approach to the green. Unless otherwise noted, cross fairways only at ninety degrees. (2) No one under 16 years of age or any minor without a motorvehicle lícense may operate golf carls. Only members or their registered guesfs may operate a ca¡t. (3) Att ptayers must abide by golf cart directional signs and posted golf caft regulations for the day. (4) Gotf cafts assigned by the CIub are restricted to Club property andto golf play only. Memöers must use assigned carts only. (5) (6) No more than two occupants per golf cart. (7) Operation of a golf caft is atthe risk of the operator. Damages must be repoñed to the Prc Shop immediately upon completion of play. Cosf of repair to a golf ca¡t which is damaged by a member will be charged to the member or, in the case of damage by a guest, to the sponsoring member. Members using a golf ca¡t will be held fully responsible for any and alldamages, including damages to the golf cad and injuríesto persons, that are caused by fhe misuse of the golf cart by the members or their guesfs, and ff¡e members shall reimburse the Club and/or any operctor of the Çlub far any and all damages the Club may sustain by reason ormisuse. Members are cautionedto be very careful when using a golf caft as repair or replacement of the golf cafts can be very expensive. (8) Allcarls are issued at the staging area and should be retumed upon finishing the rcund at the designated drop-off area. Please repoñ malfunctions and needed repairs to the golf staff or golf Pro Sâop. E. cartto the Cottse Availabilitv. The hours of operation for the golf course and practice areas as wel/as the golf courseAccess Chartwillbe posted at the Caddie Mastels booth. Because opening times and schedules vary, members are encouraged to refer to the Access Chart to avoid inconvenience and embamssment fo guesfs. 14 AMENDMENT TO RULES OF THE TRUMP INTERNATIONAL GOLF CLUB INCORPORATING JUNIOR MEMBERSHIPS December 18,2000 l. The following provision is added as paragraph l.C. The existing paragraph l.C. entitled "Family Use" is hereby redesignated as paragraph LD. The subsequent paragraphs within the section entitled "1. Membership" shallbe redesignated accordingly. C. Junior Membershios. Junior Memberships are available to individuals age 21 through 40 who are approved for membership. For purposes of determining the age of a married Junior Member, the age of the older spouse will be applicable. ln addition to satisfying the membership requirements specified herein for Golf Members, the candidate must demonstrate a reasonable proficiency in the game of golf and satisfactory knowledge of its rules, customs and etiquette. The Club may limit the number of Junior Memberships from time to time in its discretion. Children, stepchildren, and grandchildren of Golf Members will have preference in acquiring Junior Memberships. Junior Members will be entitled to use all of the golf, clubhouse and dining facilities of the Club; however, golf prívileges will be limited as determined by the Club from time to time. lnitially, Junior Members will not have golf privileges on Friday afternoons or on Saturdays, Sundays or holidays before 10 a.m. Golf Members willhave preference over Junior Members to play in tournaments. Junior Memberswillnot be required to pay greens fees but will be required to pay other fees and charges set by the Club. Dues for Junior Members will be equaltoT0o/o of the dues paid by Golf Members. The membership deposit required for a Junior Membership will be one-third of the then current membership deposit payable by a Golf Member. Once the Junior Member or his or her spouse reaches the age ol 41, a second membership deposit equal to two{hirds of the then current membership deposit will be required in order to retain the membership. Upon payment of the second membership deposit, the Junior Membership will be converted to a regular Golf Membership, subject to the repayment provisions applicable to Junior Membership. lf the Junior Member elects not to pay the second membership deposit, the Junior Membership will be deemed resigned and the membership deposit previously paid will be refunded only as provided in Article lll, paragraph D. of these Rules. ll. The following provision is added as section (5) of paragraph ll.B .4, ln addition to the limitations on guest use applicable to Golf Members, Junior Members will be permitted to sponsor a total of 15 golfing guests within a particular membership year. lll. The following provision is added as paragraph lll.B. The existing paragraph lll.B. is hereby redesignated as paragraph lll.C. The subsequent provisions within Section lll shall be redesignated accordingly. B. Membership deposits shall be repaid to Junior Members upon the earlier of (a) 30 years from the date of the payment of the applicable membership deposit or (b) 30 days after the reissuance of the membership by the Club (once resigned) as provided in this paragraph. At the end of the 30-year period applícable to each of the membership deposits, a Junior Member may choose to continue his or her membership privileges by leaving both membership deposits with the Club until subsequent resignation. Upon a Junior Member's resignation after the 3O-year period applicable to the first membership deposit but before the end of the 30-year period applicable to the second membership deposit, the Club will repay the Junior Member's first membership deposit within 30 days after the resignation date regardless of when the Club actually reissues the membership. Upon a Junior Member's resignation after both 30-year periods, the Club will repay both membership deposits within 30 days after the resignation. Membership terminates upon resignation whether resignation occurs before or after the 30-year anniversary of payment of the applicable membership deposit. The Club may set off against the membership deposit any amounts owed to the Club on the date the membership deposit is repaid. Reissuance will commence on a first-resigned, first-reissued basis after the initial issuance of all memberships will full golfing privileges. A separate waiting list for reissuance will be maintained forJunior Memberships which are resigned prior to conversion to regular Golf Membership. Membership deposits and all other Club revenues are the property of the owner of the Club and may be used for any purpose, in its sole discretion. lV. The following phrase is hereby added after the term "admission" in the seventh sentence of paragraph lll.D.: (or in the case of a Junior Member, until 30 years from the date of the payment of the applicable membership deposit) V. The reference to paragraph lll.D. in paragraph lll.E. is hereby changed to refer to paragraph lll.E. due to the redesignation of each of the paragraphs in Section lll. 541964.2 12118t00