MANILA SOUTHWOODS GOLF & COUNTRY CLUB Kabilang Baybay Carmona, Cavite

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MANILA SOUTHWOODS GOLF & COUNTRY CLUB Kabilang Baybay Carmona, Cavite General Manager: MR. RAMON CABRERA Golf Director: MR. BUTCH BRODETT Land Area: 400 HECTARES No. of Holes: 36 HOLES Year Established: 1995 Developer: FIL-ESTATE Category: PROPRIETARY Designer: JACK NICKLAUS Total Authorized Share: 3,000 SHARES (A-1,789 / B-1,200 / Founder- 11) Class A: 1,800 (inclusive of 7 Founders Shares) (issued: 1,800) Class B: 1,200 (Issued: 1,200) Amenities: Residential Area Church Sports Club Shopping Complex Tennis Courts Theme park Squash Courts Bird Sanctuaries Badminton Courts Children s Playground Bowling Center Adult Entertainment Park with rides Olympic Size Swimming pool grand colonial clubhouse ballroom Water park with fiber glass slides Function Room Covered Basketball Courts Ladies Locker Room w/ Spa/Jacuzzi Covered Gymnasium Men s Locker Room w/lounge Whirlpool Baths Infirmary Parking Facilities Hotel Business Center Legends Clubhouse Educational Institution Verandah with Dining Facilities Open patio Garden Café Driving Range Pro Shop Putting Green Beauty Saloon Pitching Green Library Tee Houses Boardroom

Club Fees: MONTHLY DUES:PhP4,000 + 480 (12% VAT) Php 4,480.00 CONSUMABLE Php 500.00 SPORTS ASSESSMENT FEE (Billed from Jan - May) Php 500.00 TOTAL Php 4,980.00 / Php 5,480.00 TRANSFER OF SHARE: TRANSFER FEE Php 163,520.00 MEMBERSHIP FEE Php 163,520.00 TOTAL Php 327,040.00 Assignment Fee (For corporate assignees who are not 50,910.00 officers of the Company) Assignee Deposit (For corporate assignees who are not 25,000.00 officers of the Company) TOTAL 402,950.00 PLAYING RIGHTS: MEMBERSHIP FEE Php 163,520.00 REFUNDABLE DEPOSIT Php25,000.00 ANNUAL ASSIGNMENT FEE (Effective Sep. 01, 2011) 50,910.00 TOTAL Php 239,430 CHANGE OF LESSOR: ANNUAL ASSIGNMENT FEE (Effective Sep. 01, 2011) 50,910 REFUNDABLE DEPOSIT* Php25,000.00 *assignee deposit can be applied to the new assignment of playing rights if the assignee has no outstanding balance from the previous assignment Other Club Charges: Green Fees (Residents) Php 2,245.00 for 18 holes weekdays/ Php 3,985.00 for 18 holes holidays & weekends Tourist Fee (Non Resident Foreigners) Php3,500.00 weekdays/ Php 5,500.00 holidays & weekends -Proof of residency is required -Peak season: November- March Tournament Fee - Php 2,500.00 Caddy Fee Php 420.00 Golf Cart Rental Php 785.00 Golf Club Rental Php 850.00

Club Information: Waiver - required Proposer/seconder - required Dependent s age limit below 25 years old unmarried sons no age limit unmarried daughters Membership Card temporary card right after interview with membership committee, Permanent card right after the induction Schedule of interview every 2nd and 4thThursday of the month. Proposer and/or Seconder must accompany the applicant Stock certificate 6 months to 1 year Earliest time to play Upon issuance of the guest card Other Club Information: Corporate shares may be assigned to individuals who are not members of the corporation. If an in-active share was leased out to another person, the member cannot de-activate it. If the lease of playing rights expires, it will automatically be reverted back to the original owner. Should he decide not to become a member, he/she will still be billed monthly dues even if it is not being used. Transfer of shares without stock certificate - seller should request the following documents from Fil-Estate Golf & Development, Inc: a) Certification of ownership of one (1) Manila Southwoods share b) Certification of full payment of that particular share A & B shares can be transferred only to at least 60% owned Filipino corporation or 100% owned Filipino owned Corporation Filipino can buy either an A or a B share Foreigner can only buy a B share No corporate shares but A & B share can be named under the corporation The credit limit/ signing privileges of Assignee Members for the use of Club facilities shall be only up to PhP25,000, equivalent to the assignment fee deposit (as directed by the Board of Directors at its meeting on August 28, 2013) Transfer of share from parent to children: Transfer fee waived; required to pay the Membership Fee Change of Lessor: waived interview and membership fee. The Lessee will be issued a new membership card

Reciprocal Clubs: Hongkong Golf Club Laguna National Golf & Country Club (Singapore) Kuala Lumpu Golf Club (Malaysia) Special Club Rules: Soft Spikes Guest for Weekdays: Legends: 3 guests + member 6:30 a.m. onwards Masters: 2 guests + member 6:30 a.m. onwards Guest for Weekends: Legends: 1 guest + member 6:30 a.m. to 8:56 a.m. 3 guests + member 9:00 a.m. onwards Masters: 1 guest + member 6:30 a.m. to 7:42 a.m. 3 guests + member 10:30 a.m. onwards Days for Tournament (Tuesday, Thursday & Friday) Maximum Players 200 REQUIREMENTS AND DOCUMENTS: I. TRANSFER OF OWNERSHIP 1. Duly accomplished application for membership with proposer & seconder s signatures. Proposer & Seconder should be a member of Manila Southwoods in good standing. 2. Letter of Recommendation from the proposer & seconder attached to the blank application form 3. Brief History of Employment 4. Specimen Signature Cards- 1 pc. 5. Photocopy of passport or residence certificate with 3 specimen signatures 6. Photocopy of Marriage Contract 7. Photocopy of Birth Certificate of Dependents 8. One (1) pc. of 1x1 colored picture of applicant, spouse & dependents 9. Waiver from Manila Southwoods Golf & Country Club 10. Transfer Fee 11. Membership Fee 12. Clearance of Account of seller from Manila Southwoods 13. Surrender permanent cards/temporary cards of member, spouse & dependents 14. Surrender locker keys of member & spouse 15. Resignation Letter from the present playing representative 16. Duly notarized Deed of Absolute Sale 17. Duly endorsed original Stock Certificate 18. Proof of payment of Capital gain tax (Capital gain Tax Filing, Authority to Accept Payment & Certification from the BIR)

19. Duly notarized Board Resolution/Secretary s Certificate (Corporate share only) 20. Photocopy of a valid government-issued ID of the Corporate Secretary (Seller and Buyer if Corporate) 21. Corporate Certificate of employment 22. Articles of incorporation and By Laws (Corporate share only) 23. Two (2) valid government-issued ID s of the Seller II. CHANGE OF PLAYING REPRESENTATIVE INDIVIDUAL MEMBERSHIP: 1. Duly Accomplished Application Form with proposer & seconder s signatures, Proposer and Seconder should be a member of Manila Southwoods in good standing. 2. Letter of recommendation from the proposer and seconder (see attached form) 3. Brief History of employment 4. Specimen Signature Cards- 1 pc. 5. Photocopy of Passport or Residence Certificate with 3 specimen signatures 6. Photocopy of Marriage Contract 7. Photocopy of Birth Certificate/s of Dependents 8. Photocopy of Latest ITR 9. Photocopy of Alien Certificate of Registration (if alien) 10. One (1) of 1 x 1 colored picture of applicant 11. Membership Fee 12. Annual Assignment Fee 13. Refundable Deposit 14. Letter of Assignment from the owner of share 15. Resignation letter from the present playing member 16. Clearance of Account from the Billing Department 17. Surrender permanent cards/temporary cards of member, spouse & dependents 18. Surrender locker keys of outgoing member

III. CHANGE OF PLAYING REPRESENTATIVE CORPORATE SHARE 1. Duly accomplished application form with proposer and seconder s signature s. Proposer and Seconder should be a member of Manila Southwoods in good standing. 2. Letter of Recommendation from the proposer and seconder (see attached). 3. Brief history of employment 4. Specimen Signature Cards- 1 pc. 5. Photocopy of passport or Residence Certificate 6. Photocopy of Marriage Contract 7. Photocopy of Birth Certificate of dependents. 8. Photo copy of alien Certificate of Registration (if Alien) 9. One (1) pc of 1 x 1 colored picture of applicant, spouse and dependents 10. Membership Fee 11. Top Executive of the company is not required to pay the Annual Assignment Fee of Php 50,910.00 and Refundable Deposit of Php 25,000.00 payable to Manila Southwoods 12. Duly Notarized Board Resolution / Secretary s Certificate 13. Photocopy of a valid government-issued ID of the Corporate Secretary 14. Corporate Certificate of Employment 15. Resignation letter from the present playing representative 16. Clearance of Account from the Billing Department 17. Surrender Permanent Cards/Temporary Cards of member, spouse and dependents 18. Surrender locker keys of outgoing member