Exhibit C - Assumption of Contracts ADT Security Services Wolcott 3/18/00-3/18/05 Panel Monitoring & Maintenance $624.00 per year Not addressed Automatic yearly renewal unless written notice given within 30 days of anniversary date Received 3 copies of contract, or 3 contracts Advanced Bio Turf Systems Emerson 11/08-12/09 Unknown Unknown Advantage Fitness Products Matt Woolridge Unknown Maintenance Agreement for Fitness Equipment $2429.30 per year Not addressed Automatic renewal year to year/ contract can be cancelled by either party for any reason with 30 days written notice Aqua Chill, Inc. Emerson 4/17/03-4/17/04 (4) Water Coolers $35.00 monthly x (4) Written notice required 30 days before ment Automatic renewal year to year without 30 days written notice Contract if effect Arrow Business Machines Freidrich Eder 3/02/10-3/01/11 Copier/ no serial number/ Cochise & Geronimo Clubhouse $1400.00 yearly With written consent Non-cancelable/ renewal contract is available Two fee amounts in contract but no indication of two contracts AT&T (now Cingular) G&A/Legal- Bob Jones 3/27/2000-12/31/19 Option/Site Lease Agreement $84,000.00 lump sum paid to extend contract to end date (INCOME) $1250.00 monthly rent from 1/01/20-12/31/24 Lessee can without consent/ Agreement runs with the Property 3 (5) year Renewal Terms with lease amounts negotiable/ Terminate only after 2nd renewal with 12 months notice New lease terms and extensions added in First Amendment Cingular Wireless G&A/Legal- Bob Jones 9/01/06-9/01/11 Site Agreement $1300.00 monthly (INCOME) With written consent 4 (5) year renewals with 15% rate increase/ Cingular-60-90 days written notice/ DM with 12 months notice after 2nd renewal term. Addendum allows for equity members to renegotiate rents after sale based on rental values in the market. Cingular Wireless G&A/Legal- Bob Jones 9/01/07-9/01/12 Site Agreement $1400.00 monthly (INCOME) With written consent 4 (5) year renewals with 15% rate increase/ Cingular-60-90 days written notice/ DM with 12 months notice after 2nd renewal term. Addendum allows for equity members to renegotiate rents after sale based on rental values in the market. Cintas Emerson 5/19/09-5/19/12 Uniform Rental Varies based on usage Not addressed 60 days written notice to cancel/ auto renewal for like term without notice. Club Car Kelly Rausch 1/01/10-1/01/11 Golf Cart Maintenance Agreement $7.50 per cart per month Not addressed No provision/ no automatic renewal Contract being renewed at end of term. N:\addison\b6646.01\DUE DILIGENCE DOCUMENTS\Operational Contract Spreadsheet\Operational Contracts.Leases.Agreements 11.08.10. Exhibit C Page 1
Club Car no Kelly rausch 1/01/09-1/01/11 (48) Utility Carts $2160.00 monthly Not addressed Not addressed Clubessential, Inc. Bob Jones 6/26/07-6/26/09 Website Creation and Maintenance $200.00 monthly With written consent unless being ed to a subsidiary 90 days written notice to cancel for any reason/ auto renewal year to year if not given 90 days notice before contract term expiration ClubSystems Group, Inc. MIS/ Andrew Heard 8/31/99-8/31/00 Operational Software Licensing, Installation & Support $6534.00 yearly support With written consent Cox Communications MIS/ Andrew Heard 10/03/05-10/03/07 Clubhouse Internet $99.00 monthly With written consent Auto renewal month to month after initial 2 year term/ written notice to cancel/ License Agreement attached with 5 year contract until 10/13/10; auto renewal without 90 days notice to cancel. Danka MIS/ Andrew Heard 2/18/08-unclear Office Equipment Maintenance Unclear With written consent unless being ed to a subsidiary Data Processing Air Corporation Wolcott 10/12/06-10/12/07 Computer Center Air Conditioning Maintenance $170.00 monthly Not addressed automatic yearly renewal without 30 days written notice Dickson Agronomic Services Agronomy/ Keith Hershberger 1/01/01-1/01/10 Pesticide Application Supervision $23,760.00 yearly EZ Links Tee Time Network- EZ Links Golf, Inc. Golf Operations/ Shawn Goben 11/7/99-11/7/01 Tee Time Network Golf Reservation System $1000.00 plus usage fees With written consent Auto 2 year renewal without 60 day notice to cancel/ EZ Links can terminate contract anytime with 60 days written notice Flexprint MIS/ Andrew Heard 7/01/08-10/01/11 Office Equipment Lease/ Print Management Service $5139.00 monthly Not permitted Auto renewal year to year if not given 90 H2Ology Emerson 3/01/10-10/31/10 Maintenance to Lakes $725.00 May-Sep and $400.00 Mar/April/ Oct Not addressed No renewal clause Month to Month Contract N:\addison\b6646.01\DUE DILIGENCE DOCUMENTS\Operational Contract Spreadsheet\Operational Contracts.Leases.Agreements 11.08.10. Exhibit C Page 2
Wolcott 10/18/90-10/18/95 Fire Alarm Monitoring $35.00 monthly Desert Mountain Information Center/ Wolcott 10/24/90-10/24/95 Fire Alarm Monitoring $15.00 monthly Desert Mountain Information Center/ Wolcott 5/05/88-5/05/93 Subscriber Controlled Burglar & Fire Alarm Monitoring $30.00 monthly Geronimo/Cochise Maintenance Facility/ Wolcott 7/29/97-7/29/98 Burglar Alarm & Fire Monitoring $36.00 monthly Apache Maintenance/ Wolcott 7/29/97-7/29/98 Fire Alarm Monitoring $15.00 monthly Range House/ Contract in effect Wolcott 7/02/03-7/02/04 Combination Burglary & Fire Alarm $37.00 monthly Desert Mountain Range House/ Wolcott 1/05/90-1/05/95 Subscriber Controlled Burglar & Fire Alarm Monitoring $30.00 monthly Renegade Maintenance Facility/ Wolcott 7/29/97-7/29/98 Waterflow Monitoring $15.00 monthly Renegade Cart Barn/ Wolcott 7/29/97-7/29/98 Waterflow Monitoring $15.00 monthly Development Trailers/ Wolcott 7/29/97-7/29/98 Burglar Alarm $25.00 monthly Renegade Pro Shop/ Wolcott 7/29/97-7/29/98 Waterflow Monitoring $15.00 monthly Log Cabin/ Contract in effect Wolcott 7/29/97-7/29/98 Waterflow Monitoring $15.00 monthly Nick Flick Building/ Contract in effect N:\addison\b6646.01\DUE DILIGENCE DOCUMENTS\Operational Contract Spreadsheet\Operational Contracts.Leases.Agreements 11.08.10. Exhibit C Page 3
Wolcott 7/29/92-7/29/97 Customer Controlled Access Burglar Alarm $131.00 monthly Swim & Tennis Center/ Wolcott 11/23/88-11/23/89 Home Alarm Monitoring $24.00 monthly Cochise Guest House/ Horizon Irrigation Systems Emerson 4/06/07- contract is for one year Weather Station Maintenance $2500.00 yearly Island Oasis Frozen Cocktail Co., Inc. Golf Operations/ Tom Forbes 8/27/98-8/27/99 Frozen Cocktail Shaver/ Blender Equipment $400.00 yearly Not addressed Terminate contract at any time and return equipment Jerry's Golf Balls Jobing. com Shawn Goben 10/01/08-12/31/10 Recovery of Golf Balls $11,000.00 (INCOME) Not addressed Not addressed 5/02/09-5/02/10- old contract/ 5/17/10- H/R- Keli 5/14/12- new Greenberg contract Subscription Agreement Payable to Club 9 x $2750.00 $554.00 monthly expired/ $600.00 current contract No provision No provision for renewal/ Not cancelable #020-0050697-101 no 9/01/06-9/01/11 Lawn Equipment $17,978.81 monthly With written consent Apache #020-0050697-102 no 8/01/07-8/01/12 Lawn Equipment $17,236.56 monthly With written consent Renegade #020-0050697-103 no 12/01/07-12/01/12 Lawn Equipment $15,366.98 monthly With written consent Chiricahua #020-0050697-104 no 8/01/08-8/01/13 Lawn Equipment $14,534.48 monthly With written consent Cochise #020-0050697-105 no 8/01/08-8/01/13 Lawn Equipment $14,389.70 monthly With written consent Geronimo #020-0050697-106 no 9/01/08-9/01/13 Lawn Equipment $14,374.50 monthly With written consent Outlaw N:\addison\b6646.01\DUE DILIGENCE DOCUMENTS\Operational Contract Spreadsheet\Operational Contracts.Leases.Agreements 11.08.10. Exhibit C Page 4
Outlaw/ Renegade #020-0050697-107 no 10/1/09-10/01/14 Lawn Equipment $1785.13 monthly With written consent No option to purchase/ Early termination with Konica/Minolta no 2/25/10-2/25/13 Sales Center Color Copier/ Model 550ID $2400.00 monthly With written consent Automatic renewal month to month if notice of contract end is not received 90-150 days prior to contract end With maintenance agreement Knoica/Minolta no 9/20/10-9/20/15 Copier system/ Model C552DS $567.00 monthly With written consent Automatic renewal month to month if notice of contract end is not received 90-150 days prior to contract end With maintenance agreement Kronos MIS/ Andrew Heard Unclear Software License & Service Agreement Unclear With written consent days notice prior to expiration of contract Missing several pages of the contract/ Contract in effect Lasta Software (F9) G&A-Legal/ Kelly Rausch 3/31/05-3/31/06 Software License & Service Agreement $1145.00 yearly With written consent unless being ed to a subsidiary 90 days notice to terminate at any time Month to Month Contract Micro-Comm Emerson 6/15/09-6/15/10 Telemetry System Service $4050.00 yearly paid as 6 x $675.00 Not addressed Missing contract terms Month to Month Contract Robert Mottram H/R- Keli Greenberg 2/20/10-6/10/10 Independent Contract Agreement for Physical Therapist IC is paid 80% of collected fees monthly With written consent 30 day written notice to cancel Month to Month Contract Neopost G&A-Legal/ Kelly Rausch 2/17/10-5/17/13 Postage Meter Equipment Rental $352.51 monthly With written consent Automatic renewal year to year without 90 days written notice Pepsi QPS- Don Woolridge Bob Jones 7/01/07-6/30/11 Agronomy/ Keith Hershberger N/A Fountain, Bottle, & Can Sales Agreement Proposal for Risk Management and Employee Training With written consent unless transfer is to new owner For breach only/ no provision for auto renewal Rebate is paid to club $4800.00 to develop training aids/ $1000.00 monthly for employee training Not addressed Not addressed Not a contract N:\addison\b6646.01\DUE DILIGENCE DOCUMENTS\Operational Contract Spreadsheet\Operational Contracts.Leases.Agreements 11.08.10. Exhibit C Page 5
Qwest MIS/ Andrew Heard 5/19/06-5/19/11 T-1 Circuit (Chi Mtc) $109.98 monthly With written consent Qwest MIS/ Andrew Heard 5/19/06-5/19/11 T-1 Circuit (Fairways) $109.98 monthly With written consent Qwest MIS/ Andrew Heard 5/17/06-5/17/11 T-1 Circuit (Apache) $109.98 monthly With written consent Qwest MIS/ Andrew Heard 5/17/06-5/17/11 ISDN PRS Agreement (Fairways) $245.64 monthly With written consent Month to month after the initial terms with no cancellation provision Qwest MIS/ Andrew Heard 4/15/08-4/15/11 Telephone Service Maintenance Agreement $1000.00 yearly Permissible Auto renewal for (3) year term if cancelled with 60 days notice prior to the end of the contract term Qwest MIS/ Andrew Heard 7/13/07-7/13/12 (10) T-1 Circuits $1072.30 monthly With written consent Qwest MIS/ Andrew Heard 11/09/07-11/09/12 (4) T-1 Circuits $439.92 monthly With written consent Qwest MIS/ Andrew Heard 7/13/07-7/13/12 T-1 Circuit (Cochise) $1311.95 monthly With written consent Qwest MIS/ Andrew Heard 7/19/07-7/19/12 T-1 Circuit (Renegade) $109.98 monthly With written consent Qwest MIS/ Andrew Heard 8/23/07-8/23/12 ISDN PRS Agreement ( Cochise/Fairways) $2825.00 monthly With written consent Month to month after the initial terms with no cancellation provision Qwest MIS/ Andrew Heard 8/24/09-8/24/12 T-1 Circuit (Chiricahua) $126.90 monthly With written consent Qwest MIS/ Andrew Heard 8/24/09-8/24/12 T-1 Circuit (Caretakers Cottage) $126.90 monthly With written consent N:\addison\b6646.01\DUE DILIGENCE DOCUMENTS\Operational Contract Spreadsheet\Operational Contracts.Leases.Agreements 11.08.10. Exhibit C Page 6
Qwest MIS/ Andrew Heard 8/24/09-8/24/12 T-1 Circuit (Outlaw) $126.90 monthly With written consent Qwest MIS/ Andrew Heard 8/24/09-8/24/12 T-1 Circuit (Outlaw Mtc) $126.90 monthly With written consent Qwest MIS/ Andrew Heard 8/24/90-8/24/12 T-1 Circuit (Fairways) $126.90 monthly With written consent Qwest MIS/ Andrew Heard 11/24/09 (Signed) T-1 Circuit (Renegade Call Center) Unclear No copy of contract No copy of contract Requested copy of contract. Safeguard Maintenance/ Brian Ramsey 4/20/09-4/20/10 Security Alarm for Outlaw Maintenance $38.95 monthly With written consent Safeguard Maintenance/ Brian Ramsey 11/23/09-11/23/10 Security Alarm for Renegade Maintenance $100.00 monthly With written consent SESAC, Inc. G&A-Legal/ Kelly Rausch 4/01/02-4/01/03 Music Agreement $899.00 yearly Yes, with notice Specialty Textile Services Freidrich Eder 2/25/00-2/25/02 and 2/9/08-2/09/02 Linen Contract (2) Varies based on usage Not addressed Automatic 2 year renewal unless 60 days notice is given prior to contract expiration Spectron Laboratories Sprint Emerson Jones 9/10/04-9/10/09 Contracts for calendar years 2000/2006/2007 Analysis of Turf & Soil $3840.00 monthly With written consent Lease Assignment from Qwest to Sprint/ Needed consent of Landlord/ 2/01/97 is original contract date $500.00 monthly- Term 1/ $650.00 monthly- Term 2 With written consent/ Assignment runs with property Auto renewal year to year if not given 90 By Lessee with 60 days notice; By Lessor with 12 months notice after completion of 2nd Term Month to Month Contract 4 (5) year options to renew/ First option exercised- no records received Sprint G&A-Legal/ Rich Yehling 3/27/06-3/27/11 Site Lease Agreement $1200.00 monthly (INCOME) By Sprint with written consent/ Assignment runs with property 90 days notice prior to the completion of the Term if not renewing (by Sprint)/ 4 (5) year options to renew Addendum allows for equity members to renegotiate rents after sale based on rental values in the market. Sprint MIS/ Andrew Heard 3/20/08-3/20/10 Internet Service $1110.00 monthly Unclear/ the standard is with written consent 30 days notice prior to expiration of contract N:\addison\b6646.01\DUE DILIGENCE DOCUMENTS\Operational Contract Spreadsheet\Operational Contracts.Leases.Agreements 11.08.10. Exhibit C Page 7
Superior Cleaning Equipment Emerson 10/01/03-9/30/04 Maintenance Program for Maintenance Equipment $600.00 monthly Not addressed Cancel with 30 days written notice without cause/ 24 hour written notice to cancel for cause Month to Month Contract Sysco Food Services Kelly Rausch 1/15/05-1/15/10 Provide Food Service Products Varies based on usage With written consent 60 notice to cancel for Breach Month to Month Contract Thyssen Arizona Elevator Wolcott 2/16/91-2/16/92 Elevator Equipment Protection $310.00 monthly Transfer of property binds purchaser to the contract Automatic yearly renewal unless 60 days notice is given prior to contract expiration T-Mobile Voicestream PCS III Corp. Tolin Mechanical UPS Jones 4/01/04-4/01/09 Wolcott 10/01/08-9/30/09 G&A-Legal/ Rich Yehling 6/27/03-6/27/05 Site Lease Agreement (unexecuted) and Letter to Exercise Option $1000.00 monthly- Term 1/ $1322.00 monthly- Term 2 By T-Mobile with written consent Technical Services Agreement $1607.00 monthly Not addressed Electronic Data Access & Exchange Agreement Not addressed With written consent By Lessee with 60 days notice; By Lessor with 12 months notice after completion of 2nd Term days notice before contract term expiration/ 30 days notice to cancel by either party days notice before contract term expiration/ 30 days notice to cancel by either party 4 (5) year options to renew/ No copy original executed contract Valutec Merchant Services Jones 10/18/07-10/18/08 Gift Card Program Varies based on usage Permissible Auto renewal year to year if not given 90 Verizon Wireless Verizon Wireless Jones 9/15/04-9/15/06 Cellphone Contract Varies based on usage With written consent $1000.00 monthly (INCOME) Rate increases in Term 2/ 2012-2016 $1183.00 monthly/ 2017-2021 By Lessee without notice/ Site Lease Agreement & $1360.00 monthly/ 2022- By Lessor with written Jones 10/01/05-12/31/11 Option 2026 $1566.00 monthly consent $175.00 per line to cancel/ Does not address auto renewal 4 (5) year options to renew with 3% increase in rental payments/ Lessee can cancel with 3 months notice prior to any Jan 1 Addendum allows for equity members to renegotiate rents after sale based on rental values in the market. Waste Management of AZ Wolcott 9/04/08-9/04/09 Waste Disposal (4 Contracts) $370.00 x 4 monthly Permissible Auto renewal year to year if not given 90 Liquidated damages clause if cancelled during Term/ Contract not signed by vendor N:\addison\b6646.01\DUE DILIGENCE DOCUMENTS\Operational Contract Spreadsheet\Operational Contracts.Leases.Agreements 11.08.10. Exhibit C Page 8
Wells Fargo #019-0000942-001 no 1/30/09-1/30/12 (460) Club Cars $45,592.76 monthly Yes, as listed on the Addendum to the Contract No cancellation provision/ Option to purchase for $1.00 at end of Term/ Applies to all 6 courses Weslinn Corporation Emerson 1/01/10-12/31/10 Bio Amp Supply $1200.00 monthly Rosemary Worrell Monte Varah 7/15/09- no Term Interior Plant Maintenance $170.00 weekly N:\addison\b6646.01\DUE DILIGENCE DOCUMENTS\Operational Contract Spreadsheet\Operational Contracts.Leases.Agreements 11.08.10. Exhibit C Page 9