Glen Abbey Golf Club, 1333 Dorval Drive, Oakville, Ontario

TITLE SUMMARY Glen Abbey Golf Club, 1333 Dorval Drive, Oakville, Ontario As of October 28, 2016 NOTE: Surrounded by the Golf Club are: (1) the former Delta Hotel Lands sold by ClubLink to DGA Hotel Holdings Corporation on May 7, 2001 and repurchased by a ClubLink affiliate on March 30, 2012 (the Delta Lands ); and (2) on the southern edge of the Golf Club are the Vranich Lands purchased by a ClubLink affiliate on July 8, 2016 (the Vranich Lands ). The Golf Club, the Delta Lands and the Vranich Lands are addressed in Parts A-D and F below and Schedule B, then only Golf Club is addressed on the remainder of this title report and the Delta Lands are addressed in a separate title report. No title report for the Vranich Lands has been prepared. A. Registered Owner: 1. Golf Club: ClubLink Corporation ULC 2. Delta Lands: ClubLink Holdings Limited 3. Vranich Lands: ClubLink Holdings Limited B. Municipal Address: 1. Golf Club: 1333 Dorval Drive, Oakville, Ontario C. Land Registry Office PINs: Golf Club: 2. Delta Lands: 1313 Dorval Drive, Oakville, Ontario 3. Vranich Lands: Vacant lands abutting Dorval Drive, Oakville, Ontario (1) PIN 24872-0765 (LT) -- ClubLink Corporation ULC (2) PIN 24872-0766 (LT) -- ClubLink Corporation ULC (3) PIN 24872-0767 (LT) -- ClubLink Corporation ULC (4) PIN 24872-0792 (LT) -- ClubLink Corporation ULC Delta Lands: (5) PIN 24872-0062(LT) -- ClubLink Holdings Limited Title Report -- Glen Abbey Golf Club

- 2 - (6) PIN 24872-0063(LT) -- ClubLink Holdings Limited (7) PIN 24872-0064(LT) -- ClubLink Holdings Limited Vranich Lands: (5) PIN 24872-0441(LT) -- ClubLink Holdings Limited Copy of the Golf Club PINs are attached as Schedule A D. Legal Description: See attached Schedule B for complete legal description E. Surveys and Surveyor s Certificate for Golf Club 1. September 26, 2008 Survey by R.E. Clipsham, OLS it shows improvements, including the golf course ( Survey ) 2. October 17, 2008 Surveyor s Certificate, by R.E. Clipsham F. ClubLink Transfers - and - Owner Name Change For Golf Club, Delta Lands and Vranich Lands 1. The Golf Club, and the Delta Lands, Transfer (and an additional approximately 10 acres at the north-west corner of the Golf Club that were sold to CCCC Glen Abbey Limited in 2001 (the Sold Lands ) were conveyed to ClubLink Corporation by Royal Canadian Golf Association ( RCGA ) by 775819 registered on February 10, 1999, except for a small portion of the Sold Lands which were conveyed by RCGA to ClubLink by Transfer 779411 registered on March 11, 1999. 2. On May 7, 2001 ClubLink conveyed the Delta Lands to DGA Hotel Holdings Corporation ( DGA ) (Transfer H-48690), together with an access/services easement in the Part 5, 20R-5071 portion of the Golf Club while reserving an access right-of-way in Part 2, 20R-5071 of the conveyed lands while owning the Golf Club lands surrounding the Delta Lands, relying on a severance consent endorsed on the Transfer of such lands from Genstar to 451590 Ontario Limited registered on March 30, 1981 as H-165591. 3. DGA conveyed the Delta Lands to ClubLink Holdings Limited on March 30, 2012 (Transfer HR-1005608) 4. On July 3, 2001 ClubLink sold the Sold Lands designated as Parts 1-11, 20R-14125 (PINs 24872-0058, -0564, 0712 and part of -0060 (Parts 2-8, 20R-14125) to CCCC Glen Abbey Limited by Transfer HR-58498. 5. Owner Name Change from ClubLink Corporation to

- 3 - ClubLink Corporation ULC to reflect ClubLink s December 14, 2009 continuance from Ontario to Alberta was registered on April 19, 2011 as HR-921626. 6. A copy of the above Transfers, and others referenced in various registered documents in the binders of materials were provided to ClubLink with the Title Report dated July 6, 2015. 7. ClubLink Holdings Limited acquired the Vranich Lands from Darivoj Vranich on July 8, 2016 (Transfer HR1372577). G. Appurtenances-Golf Club: 1. See attached Schedule C 2. As set out in Schedule C, ClubLink should apply to have two of the Golf Club appurtenant easements deleted from title as they have either expired or no longer benefit the Golf Club following the sale of the Sold Lands. H. Encumbrances-Golf Club: 1. See attached Schedule D 2. The encumbrances include: (1) PacLife Charge sale without consent an E of D (2) Re-conveyance Agreement by RCGA to the Town by H- 761918 (27 Oct 98) whereby Golf Club PIN 24872-0767 (Parts 2-3, 20R-10207) are to be conveyed to the Town for $1.00 if they are not used for golf course purposes and the Town requests the conveyance. (3) Town designation of the exterior of the RayDor Estate House to be of architectural significance by Town By-law registered on 22 Nov 94 as H-592942. The Ray-Dor Estate House may be the Old Abbey portion of the RCGA Museum and Office Building on the Survey. I. Access-Golf Club: 1. The 2008 survey shows entrances to the Golf Club from: (1) Dorval Drive; and (2) Upper Middle Road, in this case by way of an access easement granted by the Town to ClubLink in Parts 1-4, 20R-13729 registered on June 27, 2001 as HR-56436. 2. The access road to the clubhouse appears to have been partly relocated from Golf Club Part 5, 20R-5071 to

- 4 - Delta Lands Part 4, 20R-5071 without any registered easement, unless such easement is included in s. 4.01 of Easements/Shared Services Agreement registered on May 7, 2001 as HR-48691 (see item 3 under Encroachments below). J. Planning Act-Golf Club: 1. The Planning Act statements were completed in the February 10, 1999 Transfer to ClubLink (775819 registered on February 10, 1999) guaranteeing no breach of the subdivision provisions of the Planning Act at such time. Severance consents were relied on for the sales of the Delta Lands and the Sold Lands. Golf Club PIN 24872-0765 is Fee Simple Absolute. The remaining Golf Club PINs are Fee Simple LT Conversion Qualified effective May 27, 1996, a date prior to ClubLink s acquisition of the Golf Club. 2. An electronic Teraview name search undertaken on October 28, 2016 in the LRO against ClubLink indicated that it does not own any lands abutting the Golf Club, but this type of search is not a guarantee that ClubLink does not own abutting lands. 3. A ClubLink subsidiary, ClubLink Holdings Limited, owns the Delta Lands surrounded by the Golf Club, acquired from DGA by Transfer HR-1005608 registered on March 30, 2012. Such lands have the benefit of a severance consent endorsed on the Transfer from Genstar to 451590 Ontario Limited registered on March 30, 1981. K R-Plans--Golf Club: 1. The Golf Club lands legal description is based on multiple R-Plans, as follows: (1) PIN 24872-0765: Parts 1, 3, 4, 5, 20R-5211, S/E Parts 1-3, 20R-12459 (2) PIN 24872-0766: Part 5, 20R-12459 (3) PIN 24872-0767: Parts 2-3, 20R-10207 (4) PIN 24872-0792: Parts 1-7, 20R-13074, S/E Parts 2-8, 20R-14125

- 5 - L Encroachments: - Golf Club (based solely on registered title as of October 28, 2016 and the September 26, 2008 survey) 2. Attached Schedule E for a list of all R-Plans, including those by which benefitting and encumbering easements are described. 1. A portion of the RCGA Museum and Office Building encroaches into Parts 1-2, 20R-5071 of the Delta Lands, and DGA granted ClubLink Corporation an encroachment licence for such encroachment, registered on May 7, 2001 as HR-48696. 2. A portion of ClubLink s entrance road to the Golf Club clubhouse encroaches on Part 1, 20R-5071 of the Delta Lands, and DGA granted ClubLink Corporation an encroachment licence for such encroachment, registered on May 7, 2001 as HR-48697. 3. Part of the entrance road to the clubhouse is also constructed within the Part 4, 20R-5071 portion of the Delta Lands as shown on the Survey. There is no registered easement for this encroachment, except to the extent it may be included in the ClubLink Main Parking Lot Easement granted by DRA to ClubLink in s. 4.01 of the Easements/Shared Service Agreement registered on May 7, 2001 as HR-48691. This is difficult to determine as the easements created thereby are shown on basically illegible drawings (not surveys) attached thereto. The term of such easements, without Planning Act Consent, is 21 years less 1 day, so they would expire in about 7 years. Proper R-Plans, Planning Act Consents and registered easements were contemplated in the Agreement and were required in 2001 by PacLife by virtue of the Multi- Party Agreement among ClubLink, DGA and PacLife registered on May 1, 2001 as HR-48700. There is no evidence of this having been done. 4. There are third party encroachments on the PIN 24872-0765 portion of the Golf Club (at the south-east portion of the Golf Club). There is an unregistered September 1, 1973 agreement between Home Smith Properties Ltd. (as owner) and E. C. B. Macnabb and Cecil Lamoca (abutting land owners) regarding such encroachments. 5. There are additional undocumented encroachments by ponds, sheds, concrete retaining wall, rough iron fence and board and chain link fences, as shown on the Survey. These encroachments are also in a portion of

- 6 - the PIN 24872-0765 portion of the Golf Club. Schedule A : PINs for Golf Club (24872-0765, -0776, -0767 and -0792) Schedule B : Legal Descriptions for Golf Club and Delta Lands Schedule C : Appurtenances to the Golf Club, and Transfer to ClubLink Schedule D : Golf Club Encumbrances Schedule E : Golf Club Reference Plans

SCHEDULE A Glen Abbey Golf Club PINs 24872-0765, -0766, -0767 and -0792 (copies attached) Title Report -- Glen Abbey Golf Club

PARCEL REGISTER (ABBREVIATED) FOR PROPERTY IDENTIFIER LAND PAGE 1 OF 3 REGISTRY PREPARED FOR RJSavela OFFICE #20 24872 0765 (LT) ON 2016/10/28 AT 12:39:15 * CERTIFIED IN ACCORDANCE WITH THE LAND TITLES ACT * SUBJECT TO RESERVATIONS IN CROWN GRANT * PROPERTY DESCRIPTION: PCL 17 4, SEC T 15; PT LTS 17,18,19 & 20, CON 2 TRAF SDS, PTS 1,3,4 & 5, 20R5211, EXCEPT PTS 1,2 & 3, 20R12459 ; OAKVILLE. T/W PT LT 19, CON 2 TRAF SDS, PT 3, 20R5193, AS IN H166095. S/T 63461, H104134, H164850, 652520 (ADDED 99.02.02), H513675. T/W EASE H775818 OVER PTS 10 & 31, 20R11543. S/T EASE HR48690 OVER PT 5, 20R5071. T/W EASE HR48690 OVER PT 2, 20R5071. T/W EASE HR56436 OVER PTS 1,2,3 & 4 20R13729. PROPERTY REMARKS: CORRECTION: INSTRUMENT NUMBER 652520 WAS OMITTED FROM THIS PROPERTY IN ERROR AND WAS ADDED AND CERTIFIED ON 1999/02/02 BY JOHN MENARD. CORRECTION: INSTRUMENT NUMBER HR48696 WAS OMITTED FROM THIS PROPERTY IN ERROR AND WAS ADDED AND CERTIFIED ON 2001/12/14 BY KELLY HARINGA. ESTATE/QUALIFIER: RECENTLY: PIN CREATION DATE: FEE SIMPLE DIVISION FROM 24872 0061 1998/12/02 ABSOLUTE OWNERS NAMES CAPACITY SHARE CLUBLINK CORPORATION ULC BENO REG. NUM. DATE INSTRUMENT TYPE AMOUNT PARTIES FROM PARTIES TO CERT/ CHKD **EFFECTIVE 2000/07/29 THE NOTATION OF THE "BLOCK IMPLEMENTATION DATE" OF 1996/05/27 ON THIS PIN** **WAS REPLACED WITH THE "PIN CREATION DATE" OF 1998/12/02** ** PRINTOUT INCLUDES ALL DOCUMENT TYPES (DELETED INSTRUMENTS NOT INCLUDED) ** 63461 1957/04/26 TRANSFER EASEMENT INTERPROVINCIAL PIPE LINE COMPANY C H104134 1977/11/24 TRANSFER EASEMENT THE CORPORATION OF THE TOWN OF OAKVILLE C H161115 1980/12/19 NOTICE AGREEMENT THE CORPORATION OF THE TOWN OF OAKVILLE C H164849 1981/03/12 NOTICE AGREEMENT THE REGIONAL MUNICIPALITY OF HALTON C H164850 1981/03/12 TRANSFER EASEMENT THE REGIONAL MUNICIPALITY OF HALTON C 20R5211 1981/04/06 PLAN REFERENCE C 20R5423 1981/09/08 PLAN REFERENCE C 20R7251 1985/11/01 PLAN REFERENCE C 652520 1986/10/23 TRANSFER EASEMENT $1 ROYAL CANADIAN GOLF ASSOCIATION THE REGIONAL MUNICIPALITY OF HALTON C REMARKS: ENTERED 99/02/02 JM LR 20R10693 1992/04/21 PLAN REFERENCE C H513675 1992/06/05 TRANSFER EASEMENT ONTARIO HYDRO C H592942 1994/11/22 BYLAW C NOTE: ADJOINING PROPERTIES SHOULD BE INVESTIGATED TO ASCERTAIN DESCRIPTIVE INCONSISTENCIES, IF ANY, WITH DESCRIPTION REPRESENTED FOR THIS PROPERTY. NOTE: ENSURE THAT YOUR PRINTOUT STATES THE TOTAL NUMBER OF PAGES AND THAT YOU HAVE PICKED THEM ALL UP.

PARCEL REGISTER (ABBREVIATED) FOR PROPERTY IDENTIFIER LAND PAGE 2 OF 3 REGISTRY PREPARED FOR RJSavela OFFICE #20 24872 0765 (LT) ON 2016/10/28 AT 12:39:15 * CERTIFIED IN ACCORDANCE WITH THE LAND TITLES ACT * SUBJECT TO RESERVATIONS IN CROWN GRANT * REG. NUM. DATE INSTRUMENT TYPE AMOUNT PARTIES FROM PARTIES TO CERT/ CHKD 20R12459 1997/08/06 PLAN REFERENCE C H775819 1999/02/10 TRANSFER $39,750,000 ROYAL CANADIAN GOLF ASSOCIATION CLUBLINK CORPORATION C REMARKS: PLANNING ACT STATEMENTS H775820 1999/02/10 NOTICE AGREEMENT CLUBLINK CORPORATION ROYAL CANADIAN GOLF ASSOCIATION C REMARKS: FOR 10 YRS FROM 99 02 10. H780525 1999/03/19 APL (GENERAL) THE CORPORATION OF THE TOWN OF OAKVILLE C REMARKS: PARTIAL RELEASE & DISCHARGE H161115 H809895 1999/09/07 CHARGE $25,000,000 CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C H809896 1999/09/07 NOTICE CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C REMARKS: H809895 RENTS HR48691 2001/05/07 NOTICE AGREEMENT DGA HOTELS HOLDINGS CORPORTION CLUBLINK CORPORATION C HR48692 2001/05/07 CHARGE $25,000,000 CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C HR48693 2001/05/07 NOTICE CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C REMARKS: H809895, HR48692 HR48694 2001/05/07 NOTICE OF LEASE CLUBLINK CORPORATION ROYAL CANADIAN GOLF ASSOCIATION C CORRECTIONS: PARTY CHANGED FROM ROYAL CANADAIAN GOLF ASSOCIATION TO ROYAL CANADIAN GOLF ASSOCIATION ON 2001/06/28 BY JENNIFER HOLMES. HR48696 2001/05/07 NOTICE AGREEMENT CLUBLINK CORPORATION DGA HOTEL HOLDINGS CORPORATION C HR48699 2001/05/07 APL ANNEX REST COV CLUBLINK CORPORTION DGA HOTEL HOLDINGS CORPORATION C REMARKS: NO EXPIRY DELETED BY HR71439 "S/B PARTIALLY DELETED" ADDED 2001 12 14 KH HR48700 2001/05/07 NOTICE AGREEMENT CLUBLINK CORPORATION DGA HOTEL HOLDINGS CORPORATION C REMARKS: HR48690, HR48691, HR48699, HR48698, HR48703, HR48697, HR48696 HR48701 2001/05/07 POSTPONEMENT PACIFIC LIFE INSURANCE COMPANY DGA HOTEL HOLDINGS CORPORTION C REMARKS: H809895, H809896, HR48692, HR48693 TO HR48691 HR48702 2001/05/07 POSTPONEMENT PACIFIC LIFE INSURANCE COMPANY DGA HOTEL HOLDINGS CORPORATION C REMARKS: 809895, 809896, HR48693, HR48692 TO HR48699 NOTE: ADJOINING PROPERTIES SHOULD BE INVESTIGATED TO ASCERTAIN DESCRIPTIVE INCONSISTENCIES, IF ANY, WITH DESCRIPTION REPRESENTED FOR THIS PROPERTY. NOTE: ENSURE THAT YOUR PRINTOUT STATES THE TOTAL NUMBER OF PAGES AND THAT YOU HAVE PICKED THEM ALL UP.

PARCEL REGISTER (ABBREVIATED) FOR PROPERTY IDENTIFIER LAND PAGE 3 OF 3 REGISTRY PREPARED FOR RJSavela OFFICE #20 24872 0765 (LT) ON 2016/10/28 AT 12:39:15 * CERTIFIED IN ACCORDANCE WITH THE LAND TITLES ACT * SUBJECT TO RESERVATIONS IN CROWN GRANT * REG. NUM. DATE INSTRUMENT TYPE AMOUNT PARTIES FROM PARTIES TO CERT/ CHKD HR56973 2001/06/27 CHARGE $25,000,000 CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C HR91051 2001/12/17 NOTICE CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C REMARKS: AMENDING H809895 HR112395 2002/04/17 NOTICE THE CORPORATION OF THE TOWN OF OAKVILLE C 20R15990 2005/01/14 PLAN REFERENCE C 20R16437 2005/11/23 PLAN REFERENCE C HR709282 2008/10/20 NOTICE CLUBLINK CORPORATION C HR789530 2009/10/01 CHARGE $16,276,042 CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C HR921626 2011/04/19 APL CH NAME OWNER CLUBLINK CORPORATION CLUBLINK CORPORATION ULC C NOTE: ADJOINING PROPERTIES SHOULD BE INVESTIGATED TO ASCERTAIN DESCRIPTIVE INCONSISTENCIES, IF ANY, WITH DESCRIPTION REPRESENTED FOR THIS PROPERTY. NOTE: ENSURE THAT YOUR PRINTOUT STATES THE TOTAL NUMBER OF PAGES AND THAT YOU HAVE PICKED THEM ALL UP.

PARCEL REGISTER (ABBREVIATED) FOR PROPERTY IDENTIFIER LAND PAGE 1 OF 2 REGISTRY PREPARED FOR RJSavela OFFICE #20 24872 0766 (LT) ON 2016/10/28 AT 12:40:16 * CERTIFIED IN ACCORDANCE WITH THE LAND TITLES ACT * SUBJECT TO RESERVATIONS IN CROWN GRANT * PROPERTY DESCRIPTION: PT LT 19, CON 2, SDS, PT 5, 20R12459; OAKVILLE. T/W EASE H775818 OVER PTS 10 & 31, 20R11543. T/W EASE HR48690 OVER PT 2, 20R5071. T/W EASE HR56436 OVER PTS 1,2,3 & 4 20R13729. PROPERTY REMARKS: CORRECTION: INSTRUMENT NUMBER H682942 WAS ENTERED IN ERROR AGAINST THIS PROPERTY AND WAS REMOVED AND CERTIFIED ON 1999/02/09 BY DOROTHY VAN DUYN. ESTATE/QUALIFIER: RECENTLY: PIN CREATION DATE: FEE SIMPLE DIVISION FROM 24872 0758 1998/12/14 LT CONVERSION QUALIFIED OWNERS NAMES CAPACITY SHARE CLUBLINK CORPORATION ULC BENO REG. NUM. DATE INSTRUMENT TYPE AMOUNT PARTIES FROM PARTIES TO CERT/ CHKD **EFFECTIVE 2000/07/29 THE NOTATION OF THE "BLOCK IMPLEMENTATION DATE" OF 1996/05/27 ON THIS PIN** **WAS REPLACED WITH THE "PIN CREATION DATE" OF 1998/12/14** ** PRINTOUT INCLUDES ALL DOCUMENT TYPES (DELETED INSTRUMENTS NOT INCLUDED) ** **SUBJECT, ON FIRST REGISTRATION UNDER THE LAND TITLES ACT, TO: ** SUBSECTION 44(1) OF THE LAND TITLES ACT, EXCEPT PARAGRAPH 11, PARAGRAPH 14, PROVINCIAL SUCCESSION DUTIES * ** AND ESCHEATS OR FORFEITURE TO THE CROWN. ** THE RIGHTS OF ANY PERSON WHO WOULD, BUT FOR THE LAND TITLES ACT, BE ENTITLED TO THE LAND OR ANY PART OF ** IT THROUGH LENGTH OF ADVERSE POSSESSION, PRESCRIPTION, MISDESCRIPTION OR BOUNDARIES SETTLED BY ** CONVENTION. ** ANY LEASE TO WHICH THE SUBSECTION 70(2) OF THE REGISTRY ACT APPLIES. **DATE OF CONVERSION TO LAND TITLES: 1996/05/27 ** 20R12459 1997/08/06 PLAN REFERENCE C H775819 1999/02/10 TRANSFER $39,750,000 ROYAL CANADIAN GOLF ASSOCIATION CLUBLINK CORPORATION C REMARKS: PLANNING ACT STATEMENTS H775820 1999/02/10 NOTICE AGREEMENT CLUBLINK CORPORATION ROYAL CANADIAN GOLF ASSOCIATION C REMARKS: FOR 10 YRS FROM 99 02 10. H809895 1999/09/07 CHARGE $25,000,000 CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C H809896 1999/09/07 NOTICE CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C REMARKS: H809895 RENTS NOTE: ADJOINING PROPERTIES SHOULD BE INVESTIGATED TO ASCERTAIN DESCRIPTIVE INCONSISTENCIES, IF ANY, WITH DESCRIPTION REPRESENTED FOR THIS PROPERTY. NOTE: ENSURE THAT YOUR PRINTOUT STATES THE TOTAL NUMBER OF PAGES AND THAT YOU HAVE PICKED THEM ALL UP.

PARCEL REGISTER (ABBREVIATED) FOR PROPERTY IDENTIFIER LAND PAGE 2 OF 2 REGISTRY PREPARED FOR RJSavela OFFICE #20 24872 0766 (LT) ON 2016/10/28 AT 12:40:16 * CERTIFIED IN ACCORDANCE WITH THE LAND TITLES ACT * SUBJECT TO RESERVATIONS IN CROWN GRANT * REG. NUM. DATE INSTRUMENT TYPE AMOUNT PARTIES FROM PARTIES TO CERT/ CHKD HR48691 2001/05/07 NOTICE AGREEMENT DGA HOTELS HOLDINGS CORPORTION CLUBLINK CORPORATION C HR48692 2001/05/07 CHARGE $25,000,000 CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C HR48693 2001/05/07 NOTICE CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C REMARKS: H809895, HR48692 HR48699 2001/05/07 APL ANNEX REST COV CLUBLINK CORPORTION DGA HOTEL HOLDINGS CORPORATION C REMARKS: NO EXPIRY DELETED BY HR71439 "S/B PARTIALLY DELETED" ADDED 2001 12 14 KH HR48700 2001/05/07 NOTICE AGREEMENT CLUBLINK CORPORATION DGA HOTEL HOLDINGS CORPORATION C REMARKS: HR48690, HR48691, HR48699, HR48698, HR48703, HR48697, HR48696 HR48701 2001/05/07 POSTPONEMENT PACIFIC LIFE INSURANCE COMPANY DGA HOTEL HOLDINGS CORPORTION C REMARKS: H809895, H809896, HR48692, HR48693 TO HR48691 HR48702 2001/05/07 POSTPONEMENT PACIFIC LIFE INSURANCE COMPANY DGA HOTEL HOLDINGS CORPORATION C REMARKS: 809895, 809896, HR48693, HR48692 TO HR48699 HR48703 2001/05/07 POSTPONEMENT PACIFIC LIFE INSURANCE COMPANY DGA HOTEL HOLDINGS CORPORATION C REMARKS: 809895, 809896, HR48693, HR48692 TO HR48695. HR56973 2001/06/27 CHARGE $25,000,000 CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C HR91051 2001/12/17 NOTICE CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C REMARKS: AMENDING H809895 HR112395 2002/04/17 NOTICE THE CORPORATION OF THE TOWN OF OAKVILLE C HR709282 2008/10/20 NOTICE CLUBLINK CORPORATION C HR789530 2009/10/01 CHARGE $16,276,042 CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C HR921626 2011/04/19 APL CH NAME OWNER CLUBLINK CORPORATION CLUBLINK CORPORATION ULC C NOTE: ADJOINING PROPERTIES SHOULD BE INVESTIGATED TO ASCERTAIN DESCRIPTIVE INCONSISTENCIES, IF ANY, WITH DESCRIPTION REPRESENTED FOR THIS PROPERTY. NOTE: ENSURE THAT YOUR PRINTOUT STATES THE TOTAL NUMBER OF PAGES AND THAT YOU HAVE PICKED THEM ALL UP.

PARCEL REGISTER (ABBREVIATED) FOR PROPERTY IDENTIFIER LAND PAGE 1 OF 3 REGISTRY PREPARED FOR RJSavela OFFICE #20 24872 0767 (LT) ON 2016/10/28 AT 12:40:42 * CERTIFIED IN ACCORDANCE WITH THE LAND TITLES ACT * SUBJECT TO RESERVATIONS IN CROWN GRANT * PROPERTY DESCRIPTION: PT LT 18, CON 2, SDS, PTS 2 3, 20R10207; OAKVILLE. T/W EASE H775818 OVER PTS 10 & 31, 20R11543. T/W EASE HR48690 OVER PT 2, 20R5071. T/W EASE HR56436 OVER PTS 1,2,3 & 4 20R13729. PROPERTY REMARKS: CORRECTION: INSTRUMENT NUMBER H682942 WAS ENTERED IN ERROR AGAINST THIS PROPERTY AND WAS REMOVED AND CERTIFIED ON 1999/02/09 BY DOROTHY VAN DUYN. ESTATE/QUALIFIER: RECENTLY: PIN CREATION DATE: FEE SIMPLE DIVISION FROM 24872 0758 1998/12/14 LT CONVERSION QUALIFIED OWNERS NAMES CAPACITY SHARE CLUBLINK CORPORATION ULC BENO REG. NUM. DATE INSTRUMENT TYPE AMOUNT PARTIES FROM PARTIES TO CERT/ CHKD **EFFECTIVE 2000/07/29 THE NOTATION OF THE "BLOCK IMPLEMENTATION DATE" OF 1996/05/27 ON THIS PIN** **WAS REPLACED WITH THE "PIN CREATION DATE" OF 1998/12/14** ** PRINTOUT INCLUDES ALL DOCUMENT TYPES (DELETED INSTRUMENTS NOT INCLUDED) ** **SUBJECT, ON FIRST REGISTRATION UNDER THE LAND TITLES ACT, TO: ** SUBSECTION 44(1) OF THE LAND TITLES ACT, EXCEPT PARAGRAPH 11, PARAGRAPH 14, PROVINCIAL SUCCESSION DUTIES * ** AND ESCHEATS OR FORFEITURE TO THE CROWN. ** THE RIGHTS OF ANY PERSON WHO WOULD, BUT FOR THE LAND TITLES ACT, BE ENTITLED TO THE LAND OR ANY PART OF ** IT THROUGH LENGTH OF ADVERSE POSSESSION, PRESCRIPTION, MISDESCRIPTION OR BOUNDARIES SETTLED BY ** CONVENTION. ** ANY LEASE TO WHICH THE SUBSECTION 70(2) OF THE REGISTRY ACT APPLIES. **DATE OF CONVERSION TO LAND TITLES: 1996/05/27 ** 20R10207 1990/11/30 PLAN REFERENCE C H761918 1998/10/27 NOTICE AGREEMENT ROYAL CANADIAN GOLF ASSOCIATION THE CORPORATION OF THE TOWN OF OAKVILLE C H775819 1999/02/10 TRANSFER $39,750,000 ROYAL CANADIAN GOLF ASSOCIATION CLUBLINK CORPORATION C REMARKS: PLANNING ACT STATEMENTS H775819A 1999/02/10 APL ANNEX REST COV ROYAL CANADIAN GOLF ASSOCIATION C REMARKS: NO EXPIRY H775820 1999/02/10 NOTICE AGREEMENT CLUBLINK CORPORATION ROYAL CANADIAN GOLF ASSOCIATION C REMARKS: FOR 10 YRS FROM 99 02 10. NOTE: ADJOINING PROPERTIES SHOULD BE INVESTIGATED TO ASCERTAIN DESCRIPTIVE INCONSISTENCIES, IF ANY, WITH DESCRIPTION REPRESENTED FOR THIS PROPERTY. NOTE: ENSURE THAT YOUR PRINTOUT STATES THE TOTAL NUMBER OF PAGES AND THAT YOU HAVE PICKED THEM ALL UP.

PARCEL REGISTER (ABBREVIATED) FOR PROPERTY IDENTIFIER LAND PAGE 2 OF 3 REGISTRY PREPARED FOR RJSavela OFFICE #20 24872 0767 (LT) ON 2016/10/28 AT 12:40:42 * CERTIFIED IN ACCORDANCE WITH THE LAND TITLES ACT * SUBJECT TO RESERVATIONS IN CROWN GRANT * REG. NUM. DATE INSTRUMENT TYPE AMOUNT PARTIES FROM PARTIES TO CERT/ CHKD H809895 1999/09/07 CHARGE $25,000,000 CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C H809896 1999/09/07 NOTICE CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C REMARKS: H809895 RENTS HR48691 2001/05/07 NOTICE AGREEMENT DGA HOTELS HOLDINGS CORPORTION CLUBLINK CORPORATION C HR48692 2001/05/07 CHARGE $25,000,000 CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C HR48693 2001/05/07 NOTICE CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C REMARKS: H809895, HR48692 HR48699 2001/05/07 APL ANNEX REST COV CLUBLINK CORPORTION DGA HOTEL HOLDINGS CORPORATION C REMARKS: NO EXPIRY DELETED BY HR71439 "S/B PARTIALLY DELETED" ADDED 2001 12 14 KH HR48700 2001/05/07 NOTICE AGREEMENT CLUBLINK CORPORATION DGA HOTEL HOLDINGS CORPORATION C REMARKS: HR48690, HR48691, HR48699, HR48698, HR48703, HR48697, HR48696 HR48701 2001/05/07 POSTPONEMENT PACIFIC LIFE INSURANCE COMPANY DGA HOTEL HOLDINGS CORPORTION C REMARKS: H809895, H809896, HR48692, HR48693 TO HR48691 HR48702 2001/05/07 POSTPONEMENT PACIFIC LIFE INSURANCE COMPANY DGA HOTEL HOLDINGS CORPORATION C REMARKS: 809895, 809896, HR48693, HR48692 TO HR48699 HR48703 2001/05/07 POSTPONEMENT PACIFIC LIFE INSURANCE COMPANY DGA HOTEL HOLDINGS CORPORATION C REMARKS: 809895, 809896, HR48693, HR48692 TO HR48695. HR56973 2001/06/27 CHARGE $25,000,000 CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C HR91051 2001/12/17 NOTICE CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C REMARKS: AMENDING H809895 HR112395 2002/04/17 NOTICE THE CORPORATION OF THE TOWN OF OAKVILLE C HR709282 2008/10/20 NOTICE CLUBLINK CORPORATION C HR789530 2009/10/01 CHARGE $16,276,042 CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C NOTE: ADJOINING PROPERTIES SHOULD BE INVESTIGATED TO ASCERTAIN DESCRIPTIVE INCONSISTENCIES, IF ANY, WITH DESCRIPTION REPRESENTED FOR THIS PROPERTY. NOTE: ENSURE THAT YOUR PRINTOUT STATES THE TOTAL NUMBER OF PAGES AND THAT YOU HAVE PICKED THEM ALL UP.

PARCEL REGISTER (ABBREVIATED) FOR PROPERTY IDENTIFIER LAND PAGE 3 OF 3 REGISTRY PREPARED FOR RJSavela OFFICE #20 24872 0767 (LT) ON 2016/10/28 AT 12:40:42 * CERTIFIED IN ACCORDANCE WITH THE LAND TITLES ACT * SUBJECT TO RESERVATIONS IN CROWN GRANT * REG. NUM. DATE INSTRUMENT TYPE AMOUNT PARTIES FROM PARTIES TO CERT/ CHKD HR921626 2011/04/19 APL CH NAME OWNER CLUBLINK CORPORATION CLUBLINK CORPORATION ULC C NOTE: ADJOINING PROPERTIES SHOULD BE INVESTIGATED TO ASCERTAIN DESCRIPTIVE INCONSISTENCIES, IF ANY, WITH DESCRIPTION REPRESENTED FOR THIS PROPERTY. NOTE: ENSURE THAT YOUR PRINTOUT STATES THE TOTAL NUMBER OF PAGES AND THAT YOU HAVE PICKED THEM ALL UP.

PARCEL REGISTER (ABBREVIATED) FOR PROPERTY IDENTIFIER LAND PAGE 1 OF 2 REGISTRY PREPARED FOR RJSavela OFFICE #20 24872 0792 (LT) ON 2016/10/28 AT 12:41:09 * CERTIFIED IN ACCORDANCE WITH THE LAND TITLES ACT * SUBJECT TO RESERVATIONS IN CROWN GRANT * PROPERTY DESCRIPTION: PT LT 20, CON 2 TRAF, SDS, PTS 1 TO 7, 20R13074 EXCEPT PTS 2 TO 8, 20R14125; OAKVILLE. T/W EASE H775818 OVER PTS 10 & 31, 20R11543. T/W EASE HR56436 OVER PTS 1 TO 4, 20R13729. PROPERTY REMARKS: CORRECTION: INSTRUMENT NUMBER HR48699 WAS OMITTED FROM THIS PROPERTY IN ERROR AND WAS ADDED AND CERTIFIED ON 2001/12/14 BY KELLY HARINGA. CORRECTION: INSTRUMENT NUMBER HR48702 WAS OMITTED FROM THIS PROPERTY IN ERROR AND WAS ADDED AND CERTIFIED ON 2001/12/14 BY KELLY HARINGA. ESTATE/QUALIFIER: RECENTLY: PIN CREATION DATE: FEE SIMPLE DIVISION FROM 24872 0060 2001/10/11 LT CONVERSION QUALIFIED OWNERS NAMES CAPACITY SHARE CLUBLINK CORPORATION ULC BENO REG. NUM. DATE INSTRUMENT TYPE AMOUNT PARTIES FROM PARTIES TO CERT/ CHKD ** PRINTOUT INCLUDES ALL DOCUMENT TYPES (DELETED INSTRUMENTS NOT INCLUDED) ** **SUBJECT, ON FIRST REGISTRATION UNDER THE LAND TITLES ACT, TO: ** SUBSECTION 44(1) OF THE LAND TITLES ACT, EXCEPT PARAGRAPH 11, PARAGRAPH 14, PROVINCIAL SUCCESSION DUTIES * ** AND ESCHEATS OR FORFEITURE TO THE CROWN. ** THE RIGHTS OF ANY PERSON WHO WOULD, BUT FOR THE LAND TITLES ACT, BE ENTITLED TO THE LAND OR ANY PART OF ** IT THROUGH LENGTH OF ADVERSE POSSESSION, PRESCRIPTION, MISDESCRIPTION OR BOUNDARIES SETTLED BY ** CONVENTION. ** ANY LEASE TO WHICH THE SUBSECTION 70(2) OF THE REGISTRY ACT APPLIES. **DATE OF CONVERSION TO LAND TITLES: 1996/05/27 ** PM26 1957/03/08 PLAN MISCELLANEOUS C 20R7251 1985/11/01 PLAN REFERENCE C 20R10693 1992/04/21 PLAN REFERENCE C 20R13074 1999/02/03 PLAN REFERENCE C H775819 1999/02/10 TRANSFER $39,750,000 ROYAL CANADIAN GOLF ASSOCIATION CLUBLINK CORPORATION C REMARKS: PLANNING ACT STATEMENTS H775820 1999/02/10 NOTICE AGREEMENT CLUBLINK CORPORATION ROYAL CANADIAN GOLF ASSOCIATION C REMARKS: FOR 10 YRS FROM 99 02 10. H809895 1999/09/07 CHARGE $25,000,000 CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C NOTE: ADJOINING PROPERTIES SHOULD BE INVESTIGATED TO ASCERTAIN DESCRIPTIVE INCONSISTENCIES, IF ANY, WITH DESCRIPTION REPRESENTED FOR THIS PROPERTY. NOTE: ENSURE THAT YOUR PRINTOUT STATES THE TOTAL NUMBER OF PAGES AND THAT YOU HAVE PICKED THEM ALL UP.

PARCEL REGISTER (ABBREVIATED) FOR PROPERTY IDENTIFIER LAND PAGE 2 OF 2 REGISTRY PREPARED FOR RJSavela OFFICE #20 24872 0792 (LT) ON 2016/10/28 AT 12:41:09 * CERTIFIED IN ACCORDANCE WITH THE LAND TITLES ACT * SUBJECT TO RESERVATIONS IN CROWN GRANT * REG. NUM. DATE INSTRUMENT TYPE AMOUNT PARTIES FROM PARTIES TO CERT/ CHKD H809896 1999/09/07 NOTICE CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C REMARKS: H809895 RENTS HR48691 2001/05/07 NOTICE AGREEMENT DGA HOTELS HOLDINGS CORPORTION CLUBLINK CORPORATION C HR48692 2001/05/07 CHARGE $25,000,000 CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C HR48693 2001/05/07 NOTICE CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C REMARKS: H809895, HR48692 HR48699 2001/05/07 APL ANNEX REST COV CLUBLINK CORPORTION DGA HOTEL HOLDINGS CORPORATION C REMARKS: NO EXPIRY DELETED BY HR71439 "S/B PARTIALLY DELETED" ADDED 2001 12 14 KH HR48700 2001/05/07 NOTICE AGREEMENT CLUBLINK CORPORATION DGA HOTEL HOLDINGS CORPORATION C REMARKS: HR48690, HR48691, HR48699, HR48698, HR48703, HR48697, HR48696 HR48701 2001/05/07 POSTPONEMENT PACIFIC LIFE INSURANCE COMPANY DGA HOTEL HOLDINGS CORPORTION C REMARKS: H809895, H809896, HR48692, HR48693 TO HR48691 HR48702 2001/05/07 POSTPONEMENT PACIFIC LIFE INSURANCE COMPANY DGA HOTEL HOLDINGS CORPORATION C REMARKS: 809895, 809896, HR48693, HR48692 TO HR48699 HR56973 2001/06/27 CHARGE $25,000,000 CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C HR91051 2001/12/17 NOTICE CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C REMARKS: AMENDING H809895 HR112395 2002/04/17 NOTICE THE CORPORATION OF THE TOWN OF OAKVILLE C 20R15990 2005/01/14 PLAN REFERENCE C HR709282 2008/10/20 NOTICE CLUBLINK CORPORATION C HR789530 2009/10/01 CHARGE $16,276,042 CLUBLINK CORPORATION PACIFIC LIFE INSURANCE COMPANY C HR921626 2011/04/19 APL CH NAME OWNER CLUBLINK CORPORATION CLUBLINK CORPORATION ULC C NOTE: ADJOINING PROPERTIES SHOULD BE INVESTIGATED TO ASCERTAIN DESCRIPTIVE INCONSISTENCIES, IF ANY, WITH DESCRIPTION REPRESENTED FOR THIS PROPERTY. NOTE: ENSURE THAT YOUR PRINTOUT STATES THE TOTAL NUMBER OF PAGES AND THAT YOU HAVE PICKED THEM ALL UP.

SCHEDULE B LEGAL DESCRIPTIONS 1. GOLF CLUB Registered Owner: Address: FIRSTLY: ClubLink Corporation ULC 1333 Dorval Drive, Oakville, Ontario PIN 24872-0765(LT) PCL 17 4, SEC T 15; PT LTS 17,18,19 & 20, CON 2 TRAF SDS, PTS 1,3,4 & 5, 20R5211, EXCEPT PTS 1,2 & 3, 20R12459 ; OAKVILLE. T/W PT LT 19, CON 2 TRAF SDS, PT 3, 20R5193, AS IN H166095. S/T 63461, H104134, H164850, 652520 (ADDED 99.02.02), H513675. T/W EASE H775818 OVER PTS 10 & 31, 20R11543. S/T EASE HR48690 OVER PT 5, 20R5071. T/W EASE HR48690 OVER PT 2, 20R5071. T/W EASE HR56436 OVER PTS 1,2,3 & 4 20R13729. SECONDLY: PIN 24872-0766(LT) PT LT 19, CON 2, SDS, PT 5, 20R12459; OAKVILLE. T/W EASE H775818 OVER PTS 10 & 31, 20R11543. T/W EASE HR48690 OVER PT 2, 20R5071. T/W EASE HR56436 OVER PTS 1,2,3 & 4 20R13729. THIRDLY: PIN 24872-0767(LT) PT LT 18, CON 2, SDS, PTS 2 3, 20R10207; OAKVILLE. T/W EASE H775818 OVER PTS 10 & 31, 20R11543. T/W EASE HR48690 OVER PT 2, 20R5071. T/W EASE HR56436 OVER PTS 1,2,3 & 4 20R13729. Title Report -- Glen Abbey Golf Club

- 2 - FOURTHLY: PIN 24872-0792(LT) 2. DELTA LANDS: PT LT 20, CON 2 TRAF, SDS, PTS 1 TO 7, 20R13074 EXCEPT PTS 2 TO 8, 20R14125; OAKVILLE. T/W EASE H775818 OVER PTS 10 & 31, 20R11543. T/W EASE HR56436 OVER PTS 1 TO 4, 20R13729. Registered Owner: Address: FIRSTLY: ClubLink Holdings Limited 1313 Dorval Drive, Oakville, Ontario PIN 24872-0062(LT) PCL 17 3, SEC T 15 ; PT LTS 18 & 19, CON 2 TRAF SDS, PTS 1 2, 20R5071; TOWN OF OAKVILLE T/W EASE H775818 OVER PTS 10 & 31, 20R11543. T/W EASE HR48690 OVER PT 5, 20R5071. S/T EASE HR48690 OVER PT 2, 20R5071. SECONDLY: PIN 24872-0063(LT) PCL 17 3, SEC T 15 ; PT LTS 18 & 19, CON 2 TRAF SDS, PT 3, 20R5071; TOWN OF OAKVILLE T/W EASE H775818 OVER PTS 10 & 31, 20R11543. T/W EASE HR48690 OVER PT 5, 20R5071. THIRDLY: PIN 24872-0064(LT) PCL 17 3, SEC T 15 ; PT LTS 18 & 19, CON 2 TRAF SDS, PT 4, 20R5071; TOWN OF OAKVILLE T/W EASE H775818 OVER PTS 10 & 31, 20R11543. T/W EASE HR48690 OVER PT 5, 20R5071.

- 3-3. VRANICH LANDS: Registered Owner: Address: ClubLink Holdings Limited Vacant lands abutting Dorval Drive, Oakville, Ontario PIN 24872-0441(LT) PCL BLK 102 1, SEC 20M382 ; BLK 102, PL 20M382 ; S/T H294631 OAKVILLE

SCHEDULE C GLEN ABBEY GOLF CLUB TRANSFER TO CLUBLINK and APPURTENANCES Golf Club PINs Delta Lands PINs Sold Lands (to CCCC Glen Abbey Limited) (1) 24872-0765(LT) (1) 24872-0062(LT) (1) 24872-0058 (2) 24872-0766(LT) (2) 24872-0063(LT) (2) 24872-0712 (3) 24872-0767(LT) (3) 24872-0064(LT) (3) 24872-0564 (4) 24872-0792(LT)* (4) 24872-0791* * remainder of 24872-0060 * part of 24872-0060 GLEN ABBEY GOLF CLUB TRANSFER TO CLUBLINK 1. (#12) Number Date H-775819 10 Feb 99 Transfer to ClubLink Corporation from Royal Canadian Golf Association (1) All 4 Golf Club PINs, plus the Delta Lands plus the Sold Lands. (2) Golf Club: (a) PIN 24872-0765 Parts 1, 3, 4, 5, 20R-5211 S/E Parts 1-3, 20R- 12459 (small strips of land abutting PIN 24872-0766) (b) PIN 24872-0060 Parts 1-7, 20R-13074 now remainder PIN 24872-0792 after ClubLink sold S/E Parts 2-8, 20R-14125 (c) PIN 24872-0766 Part 5, 20R-12459 (d) PIN 24872-0767 Parts 2-3, 20R-10207 (3) ClubLink agrees to comply with Town Re-conveyance Agreement 761918 (10 Feb 99) for PIN 24872-0767 and to require purchasers from Title Report -- Glen Abbey Golf Club

- 2-2. (#37) Number Date HR-921626 19 Apr 11 Owner Name Change by ClubLink Corporation ClubLink Corporation name is changed to ClubLink Corporation ULC due to Dec. 14, 2009 continuance from Ontario to Alberta ClubLink to agree to comply with such Agreement. (1) All 4 Golf Club PINs. GLEN ABBEY GOLF CLUB APPURTENANCES 1. (#6) Number Date H-166095 10 Apr 81 Appurtenant Easement to Royal Canadian Golf Association ( RCGA ) from Genstar Limited Easement in Part 3, 20R-5193 (now Dorval Dr. abutting the Golf Club) for installation and maintenance of services until such lands are dedicated as a public road granted in Genstar Deed H- 166095 conveying to RCGA: (1) Parts 1-2, 20R-5217 (Golf Club PIN 24872-0767) (2) Parts 1, 3, 4, 5, 20R-5211 (Golf Club PIN 24872-0765) (1) Part 3, 20R-5193 for services until such lands are dedicated as a public road. PIN 24872-0765 (2) ClubLink should seek the deletion of H-166095 from the PIN 24872-0765 thumbnail as Dorval Ave.is now a public road, and therefore the appurtenant easement in Part 3, 20R- 5193 has expired. (3) FYI: Deed H-166095 states that Golf Club PIN 24872-0765 is together with an access easement in Part 2, 20R-5211 and subject to an access/services easement in Part 3, 20R-5211, but they are not referenced on ClubLink s PINs as they merged and terminated when RCGA acquired the Delta Lands by H-329070 (Sept 8, 1987) and became the owner of the dominant and servient lands.

- 3-2. (#11) 3. (#18) Number Date H-775818 10 Feb 99 Appurtenant Easement to Royal Canadian Golf Association from the Town of Oakville For pedestrian and vehicular access for parking purposes only on the Golf Club lands associated with the Canadian Open Golf Tournament and similar tournaments only. HR-48690 7 May 01 Appurtenant and Encumbering Easements in Transfer HR-48690 from ClubLink to DGA Hotel Holdings Corporation ( DGA ) (now succeeded by ClubLink Holdings Limited) Encumbering Easement in Golf club Part 5, 20R-5071 for the purposes of installation and alteration of services and ingress and egress to Parts 1-4, 20R- 5071 (the Delta Lands) Appurtenant Easement reserved (with S/T language) in Part 2, 20R-5071 for ingress and egress for the benefit of Golf Club PINS 24872-0765, 24872-0766 and 24872-0767. (1) Parts 10 and 31, 20R-11543 Town PIN 24872-0710 (2) This easement seems to be of no benefit to the Golf Club at this time as it is in the Upper Middle Road lands abutting the north west corner of the Sold Lands sold by ClubLink to CCCC Glen Abbey Limited and now abutting a residential property on such Sold Lands. (3) ClubLink should surrender this easement and have it deleted from its title. (1) Part 5, 20R-5071 PIN 24872-0765 (encumbrance) (2) Part 2, 20R-5071 (appurtenance) Golf Club PINs 24872-0765, -0766 and -0767 (3) These easements are created in the ClubLink Transfer HR-48690 of the Delta Lands to DGA Hotel Holdings Corporation which does not have a severance consent attached to it. The Transfer includes a statement that the Transfer is authorized by the Severance Consent in Deed 165591 (30 Mar 81) of the Delta Lands from Genstar to 451590 Ontario Limited with Severance Consent attached. (4) Genstar, as owner of the Golf Club Lands and the Delta lands, included in 1981 Deed 165591 conveying the Delta Lands

- 4-4. (#19) Number Date HR-48691 7 May 01 Appurtenant & Encumbering Easements/Shared Services Agreement between DGA (now succeeded by ClubLink Holdings Limited) and ClubLink The Agreement (i) creates certain easements and right-ofway for access, parking, repairs, services and construction staging in respect of, and as between, the Delta Lands and the Golf Club; (ii) provides for operation, maintenance, repair and replacement of shared facilities; and (iii) generally ensures the ongoing integrated operation of the Resort and the golf course and related facilities operated on to DGA (i) a grant of an appurtenant services and access easement in Golf Club Part 5, 20R-5071, and (ii) Subject To an access right-of-way in Part 2 of the Delta Lands for the benefit of the Golf Club. Subject To is not the correct language for reserving a right-of -way - the Part 2 access right-ofway should have been Reserved from the Transfer to 451590 Ontario to create such right-of-way. The same Subject To, rather than Reserves, language was used in 2001 Transfer HR-48690 (because it had to be the same as in 1981 Deed 165591 to which the required severance consent was attached) and accordingly there is a small risk that the validity of the Part 2 right-of-way will be questioned at some time in the future. (1) All 4 Golf Club PINs and the Delta Lands. (2) In Article 2 ClubLink grants service line easement, main parking lot and connecting road easement and construction easement in portions of the Golf Club cross-hatched on attached plans. In Article 2 DGA grants to ClubLink storm water works easement and ClubLink main parking lot easements in portions of the Delta Lands cross hatched on attached plans.

- 5-5. (#23) 6. (#24) 7. (#30) Number Date the Golf Club Lands HR-48696 7 May 01 Appurtenant Building Encroachment Licence granted by DGA Hotel Holdings Corporation to ClubLink Licence to maintain a building encroachment by RCGA Museum and Office Building (located on Golf Club PIN 24872-0765 lands) into the Delta Lands Parts 1-2, 20R-5071, as shown on the sketch attached to HR-48696 and on the Clipsham September 26, 2008 Survey. HR-48697 7 May 01 Appurtenant Road Encroachment Licence granted by DGA Hotel Holdings Corporation to ClubLink Licence to maintain the encroachment of a road from Golf Club Lands Part 5, 20R- 5071 (part of PIN 24872-0765) on to Delta Lands Part 1, 20R- 5071 as shown on the sketch attached to HR-48697 and on the Clipsham September 26, 2008 Survey. HR-56436 27 June 01 Appurtenant Easement from The Town of Oakville to ClubLink for pedestrian and vehicular access for the purpose of maintenance and repair of Glen Abbey golf course In s. 5.01 the terms of the easement are 21 years less 1 day, to be replaced with easements based on R-Plans and severance consents, failing which ClubLink grants an easement to DGA over the entire Golf Club for such purposes. (1) Part of Parts 1 and 2, 20R- 5071 PIN 24872-0062 (Delta Lands) (2) The licence benefits the 4 Golf Club PINs and the Sold Lands, but is only registered on Golf Club PIN 24872-0765, and on Delta Lands PIN 24872-0062. (3) Sketch of the building encroachment is attached to HR-48696. (1) Part of Part 1, 20R-5071 PIN 24872-0062 (Delta Lands) (2) The licence benefits the 4 Golf Club PINs and the Sold Lands but it is not registered on any of the Golf club PINs. It is registered on Delta Lands PIN 24872-0062 (3) Sketch of the road encroachment is attached to HR-48697 (1) Parts 1-4, 20R-13729 (City PIN 24924-0410(LT)) for the benefit of the 4 Golf Club PINs and the Sold Lands.

- 6-8. (#32) 9. (#35) Number Date HR-679111 20 Aug 01 Appurtenant Acknowledgement by CCCC Glen Abbey Limited as purchaser of the Sold Lands CCCC Glen Abbey Limited acknowledges that the Sold Lands are adjacent to the Golf Club and releases ClubLink from liability or responsibility for damage, personal injury or nuisance that results from the proximity of the Sold Lands to the Golf Club. HR-709282 20 Oct 08 Appurtenant Notice By ClubLink Notice of Restrictive Covenant HR-48698 (May 7, 2001) granted by DGA to ClubLink restricting DGA s use of the Delta Lands to use for a resort, conference centre or hotel, and prohibiting a stand alone spa without guest rooms (1) Sold Lands PINs (2) The 4 Golf Club PINs comprise the lands described as the Golf Club (3) HR-679111 is not registered on the Golf Club PINs, but it was registered on the Sold Lands PINs. (1) All 4 Golf Club PINs.

SCHEDULE D GLEN ABBEY GOLF CLUB ENCUMBRANCES Golf Club PINs Delta Lands PINs Sold Lands (to CCCC Glen Abbey Limited) (1) 24872-0765(LT) (1) 24872-0062(LT) (1) 24872-0058 (2) 24872-0766(LT) (2) 24872-0063(LT) (2) 24872-0712 (3) 24872-0767(LT) (3) 24872-0064(LT) (3) 24872-0564 (4) 24872-0792(LT)* (4) 24872-0791* * remainder of 24872-0060 * part of 24872-0060 1. CHARGES AND RELATED GENERAL ASSIGNMENTS OF RENTS 1. (#16) Number Date H-809895 7 Sept 99 Charge ($25M) in favour of Pacific Life Insurance Company ( PacLife ) (1) All 4 Golf Club PINs, plus Delta Lands and the Sold Lands (2) The Delta Lands were discharged by HR-48689 (May 7, 2001); and the Sold Lands were discharged by HR-58515 (July 3, 2001) (3) ClubLink covenants include: (a) not to encumber the lands, except by Permitted Encumbrances (b) not to seek any re-zoning without PacLife consent (4) Limited recourse after Effective Gross Income equals or exceeds Effective Gross Income Threshold at the end of any Loan Year (5) Supplemented, amended partially discharged; etc. by: 1. Supplemented by Charge HR-48692 (May 7, 2001) 2. Amended by Charge Amending Agreement HR-48693 (May 7, 2001) 3. Multi-Party Agreement HR-48700 (May 7, 2001) Title Report -- Glen Abbey Golf Club

- 2 - Number Date among ClubLink, DGA and PacLife 4. Postponed, with HR-48692 and HR-48693, to Easement/Shared Services Agreement HR-48691 by HR-48701 (May 7, 2001) 5. Postponed, with HR-48692 and HR-48693, to Restrictive Covenant Agreement HR-48699 by HR-48702 (May 7, 2001) 6. Postponed, with HR-48692 and HR-48693, to Right of First Offer HR-48695 by HR-48703 (both the Postponement and the Right of First Offer were discharged from Golf Club PIN 24872-0765 by HR- 119425 on May 24, 2002) 7. Supplemented by Charge HR-56973 (June 27, 2001) supplementing Charges H- 809895, HR-48692, and Amendment HR-48693) 8. Amended by Charge Amending Agreement HR-91051 (December 17, 2001) 9. Amended and Restated Charge HR-789530 (October 1, 2009) 10. Discharge of the Delta Lands from H-809895 by HR-48689 (May 7, 2001) 11. Discharges of the Sold Lands: (a) HR-58514 (July 3, 2001) for Charge HR- 56973 (b) HR-58515 (July 3, 2001) for Charge H- 809895 and GAR H-

- 3-2. (#17) 3. (#20) 4. (#21) Number Date H-809896 7 Sept 99 General Assignment of Rents in favour of PacLife Additional security for Charge H-809895 HR-48692 7 May 01 Charge Amending Agreement for PacLife Charge A-809895 ClubLink supplements Charge H-809895 by charging in favour of PacLife the easements DGA granted to ClubLink in Easements/Shared Facilities Agreement H-48691 HR-48693 7 May 01 Charge Amending Agreement for PacLife Charge H-809895 amended by HR-48692 Amendment of PacLife Charge to add s.10.14, 10.15, 10.16, 10.17, 19.1(1), 21.5 and to amend the first paragraph of s. 28.1 to: (1) address various 809896 (c) HR-58516 (July 3, 2001) for Charge HR- 48692 (1) All 4 Golf Club PINs. (2) Postponed to Easement/Shared Services Agreement HR- 48691 by HR-48701. (3) Postponed to Restrictive Covenant Agreement HR- 48692 by HR-48702. (4) Postponed to Right of First Offer HR-48695 by HR- 48703. (1) All 4 Golf Club PINs. (2) Recites that ClubLink sold the Delta Lands to DGA Hotel Holdings Corporation and PacLife discharged same from its Charge H-80985 by HR- 48689 (May 7, 2001). (3) Amended by Mortgage Amending Agreement HR- 48693. (4) Postponed to Easement/Shared Services Agreement HR- 48691 by HR-48701. (5) Postponed to Restrictive Covenant Agreement HR- 48692 by HR-48702. (6) Postponed to Right of First Offer HR-48695 by HR- 48703. (1) All 4 Golf Club PINs. (2) Postponed to Easement/Shared Services Agreement HR- 48691 by HR-48701. (3) Postponed to Restrictive Covenant Agreement HR- 48692 by HR-48702. (4) Postponed to Right of First Offer HR-48695 by HR-

- 4-5. (#26) Number Date agreements, including Easements/Shared Facilities Agreement HR-48691, RCGA Agreement 775819, and many others (2) include PacLife agreement to release from the PacLife Charge the Golf House and Golf Hall of Fame buildings and approximately 10 acres of unimproved land at the north-west corner of the Golf Club for no consideration HR-48700 7 May 01 Multi-Party Agreement between PacLife, DGA (succeeded by ClubLink Holdings Limited) and ClubLink PacLife consents to the sale of the Delta Lands to DGA, to a partial discharge thereof from its security and to various related agreements (including HR-48691, HR-48699, HR-48698, HR-48703, H-775820, HR-48697, HR-48696), subject to the terms of the Agreement 48703. (1) All 4 Golf Club PINs, plus the Delta Lands plus the Sold Lands. (2) ClubLink agrees not to permit any transfer or assignment (including to a mortgagee) of the Golf Club or the Delta Lands until the transferee has entered into an assumption agreement in favour of the remaining party in form and substance approved by PacLife. (3) In s.9 ClubLink agrees to, within 3 months following Substantial Completion (as defined in the Easement/Shared Services Agreement (HR-48691) (#19)) -- will never happen), apply for severance consent for the reciprocal easements granted by DGA and ClubLink in the Easement/Shared Service Agreement HR-48691 and to registered proper easements as approved by PacLife, and failure to do so will be an Event of Default under the PacLife Charge.

- 5 - Number Date 6. (#27) 7. (#28) 8. (#29) 9. (#31) 10. (#33) HR-48701 7 May 01 Postponement by PacLife PacLife Postponement of its Charge, as amended, and GAR (809895, 809896, HR- 48692, HR-48693) to Easement/Shared Services Agreement HR-48691 HR-48702 7 May 01 Postponement by PacLife PacLife Postponement of its Charge, as amended, and GAR (809895, 809896, HR- 48692, HR-48693) to Restrictive Covenant Agreement HR-48692 HR-48703 7 May 01 Postponement by PacLife PacLife Postponement of its Charge, as amended, and GAR (809895, 809896, HR- 48692, HR-48693) to Right of First Offer HR-48695 HR-56973 27 June 01 Supplemental to Charge 809895 Charge in favour of PacLife ClubLink Charges appurtenant Easement HR- 56436 (June 25, 2001) (Parts 1-4, 20R-13729) in favour of PacLife HR-91051 17 Dec 01 Charge Amending Agreement Amending PacLife Charge H-809895 PacLife $25M Charge 809895 is amended so that such Charge of Glen Abbey (1) All 4 Golf Club PINs, plus the Sold Lands (1) All 4 Golf Club PINs, plus the Sold Lands. (1) PINs 24872-0766 and -0767 (2) HR-48703 included all 4 Golf Club PINs and the Sold Lands, but is now registered only on Golf Club PINs 24872-0766 and -0767. The Right of First Offer and the Postponement were discharged by HR-119425 (May 24, 2002), but only from Golf Club PIN 24872-0765. ClubLink should apply to the LRO to have it deleted from PINs 24872-0766 and 0767. (1) All 4 Golf club PINs, plus the Sold Lands. (1) All 4 Golf Club PINs, plus the Delta Lands. (2) The Delta Lands were subsequently discharged.

- 6-11. (#36) Number Date also secures a PacLife $25M loan to ClubLink secured by King Valley Golf Club HR-789530 1 Oct 09 Amended and Restated Charge (USD$16,276,041.67) in favour of PacLife ClubLink Charges Glen Abbey as security for the PacLife $25M Glen Abbey Loan and the $25M King Valley Loan and the loans are cross-defaulted Maturity: October 1, 2029 (1) All 4 Golf Club PINs. (2) ClubLink covenants include: (a) no encumbrances to be created other than Permitted Encumbrances (b) no re-zoning without PacLife consent and remaining terms are similar to original Charge H-809895 (7 Sept 99) as amended. (3) A Sale of the Secured Property without the consent of the Lender is an Event of Default

- 7-2. ENCUMBERING EASEMENTS 1. (#1) 2. (#2) 3. (#5) Number Date 63461 26 Apr 57 Easement to Interprovincial Pipe Line Company (now Enbridge Energy) For one or more pipe lines for oil and oil products, together with access H-104134 24 Nov 77 Easement to The Corporation of the Town of Oakville For sewers, drains, pipes, conduits, wires and services with above ground access, manholes, catch basins, hydrants, service boxes and other appurtenances as the Town desires H-164850 12 Mar 81 Easement to The Regional Municipality of Halton from Genstar Limited For access for reading water meters and carrying out duties, obligations, rights and responsibilities under the Regional Municipality of Halton Act, the Ontario Water Resources Act and the Public Utilities Act with respect to the provision of water and sanitary sewer services and for access at all reasonable times (1) Part 5, 20R-5211 PIN: 24872-0765(LT) (2) ClubLink may use the easement lands to the extent such use does not impair Enbridge s rights, but not to drill, excavate or improve the easement lands without Enbridge s consent, and Enbridge will not object to paving of driveways, etc. (1) Part 2, Plan 20R-3024 (now also Part 4, Plan 20R- 5211) PIN: 24872-0765(LT) (2) ClubLink may use the easement lands for purposes that do not conflict with the Town s rights, but shall not plant trees or erect any buildings or structures. (1) Part 5, Plan 20R-5071 (now also Part 3, Plan 20R 5211) PIN: 24872-0765(LT)

- 8-4. (#7) 5. (#8) 6. (#18) Number Date 652520 23 Oct 86 Easement to The Regional Municipality of Halton For underground sewers, water lines, drains, pipes, conduits, markers, channels, ducts, etc. for the transfer, control, flow of sewage and water both above and below ground H-513675 5 June 92 Easement to Ontario Hydro For the erection and maintenance of an electrical and communication transmission line and associated accessories, with the right to erect and maintain and use bridges and such fences and gates as Ontario Hydro may consider necessary from time to time, to cut trees, etc. To install conductors below grade at a depth so as not to interfere with golf course operation. HR-48690 7 May 01 Appurtenant and Encumbering Easements in Transfer HR-48690 from ClubLink to DGA Hotel Holdings Corporation (1) Part 1, Plan 20R-7251 PIN: 24872-0765(LT) Note: Part 2 mentioned in the Easement is in the Sold Lands (2) This easement abuts Upper Middle Road at the north west corner of the Golf Club. (3) ClubLink is required to keep the easement lands free and clear of fences, buildings, structures, or obstructions unless approved by the Region s Director of Public Works. (4) ClubLink may use the easement lands in a manner not inconsistent with the easement rights, but only as a lawn, farm operation, garden, roadway, driveway parking area or walkway none of which are to have a hard surface. (1) Part 1, Plan 20R-10693 PIN: 24872-0765(LT) (2) Parts 2-3, Plan 20R-10693 were included but they are in the Sold Lands sold to CCCC Glen Abbey Limited. (3) The easement abuts Upper Middle Road at the north west corner of the Golf Club. (4) Provided the safe operation of the line is not interfered with, ClubLink, with the consent of Hydro, may construct roads, lanes, walks, drains, fences, etc. on the easement lands. (1) Part 5, 20R-5071 PIN 24872-0765 (encumbrance) (2) Part 2, 20R-5071