Membership Benefits. (14) Day Advanced Tee Time Capabili=es. $200 Ashton Hills Credit* (2) Guest Green Fee Passes per month for one year*

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1 Membership Benefits (14) Day Advanced Tee Time Capabili=es No Green Fees Free Range Balls* $200 Ashton Hills Credit* (2) Guest Green Fee Passes per month for one year* Member Charging Privileges Summer Junior Program Ashton Hills Member Golf Associa=on Discount in the Golf Shop Monthly Member Ou=ngs and Tournaments Daily Club Organized Games for all ability levels Custom FiPed Clubs Bag Storage ($8.50 / month) Locker ($8.50 / month) Handicap Services ($35 / year) *Offer Expires 08/03/12

2 Ini$a$on Fee $1,500* Member Dues *Waived for all Indian Creek members in good standing from 1/1/08 un=l 11/27/11 with a two year commitment. Family Membership: Single Membership: Senior Membership: Junior Membership: $195 per month $170 per month $160 per month $155 per month (age 35 and under) Corporate Membership: $145 per month. (Minimum of 4 members, maximum of 8) Out of Town Membership Social Membership $120 per month (Primary Residence must be more than 50 miles away) $50 per month Member Fees Cart Fee: $17 (18) Holes $9 (9) Holes Trail Fees: $700 / Individual (Member owned cart required) $1,100 / Family (Member owned cart required) Unlimited Cart Plan: $1,400 / Individual $2,200 / Family

3 ASHTON HILLS GOLF CLUB MEMBERSHIP APPLICATION PERSONAL Applicant's Name Residence Street City State Zip Telephone Place of Birth Date Social Security Number Name of Spouse Place of Birth of Spouse_ Date Social Security Number Wedding Anniversary Unmarried Children of Applicant Under the Age of twentyone (21) Living at Home or Attending School on a Full Time Basis. List by: Name Age Date of Birth 1. Male/Female 2. 3.

4 4. BUSINESS Name of Employer Title Telephone Address TERMS OF MEMBERSHIP 1. Membership Deposit(non-refundable): Member of Indian Creek Golf Club at any time between1/1/08 up to 11/27/12 in good standing : NONE. Resident: Covington Place, The Links of Covington or Coreydale Subdivision residents as of 8/01/12 with no prior Membership: $ Non-resident Family: $1, Non-resident Single: $1, Non-resident Senior: $1, Non-resident Junior(age 35 and under): $1,500.00, payable in four(4) equal annual installments. Corporate: $2, Approval for Membership. I understand that this Application will not be acted upon unless fully completed and signed by me and a Club representative. Membership is contingent upon approval by the Club. Approval by the Club shall be in the Club's sole and absolute discretion. 3. Membership. The Club facilities are owned and operated by Ashton Hills Golf Club, LLC, a Georgia limited liability company (the "Club"). I hereby acknowledge that my membership in the Club is not an investment in the Club, nor does it provide an equity or ownership interest in the Club or the Club facilities, that I will pay monthly dues to the Club in accordance with it published rates, as from time to time established by the Club. Membership does not confer upon me a vested or prescriptive right or easement to use the Club facilities. Members will not have any interest in the income of the Club and will not receive any of the Club's assets if the Club is dissolved. The Club reserves the right, in its sole and absolute discretion, to reserve memberships, to discontinue operation of any or all of the Club facilities, to sell or otherwise dispose of the Club facilities in any manner whatsoever, to convert the Club into a member-only

5 or a memberowned Club, to make any other changes in the terms and conditions of membership or the Club facilities and to restrict or to otherwise reserve the Club facilities for maintenance, golf tournaments and promotional, charitable and other special events from time to time. Membership in the Club is a revocable license, subject to suspension and revocation by Club, with or without cause. I agree that in the event that the Club accepts my application, I agree to remain a member for a period of not less that one year, unless agreed to longer term, and thereafter until I provide the Club with not less than thirty(30) days prior written notice of termination. In the event of any suit between the Club and any member for any claim or matter, the nonprevailing party shall be liable to the other party for all costs, and expenses incurred in such suit, including attorneys' fees or any other fees required in connection with appellate proceedings. 4. Hold Harmless. I hereby acknowledge that the use of the Club facilities and any privilege or service incident to membership is voluntary and that any use or acceptance of any service or privilege incident to membership is undertaken with knowledge of the risk of possible injury. Each member shall be liable for any property damage and/or personal injury at the Club facilities, or at any activity or function operated, organized, arranged or sponsored by the Club, caused by the member, his/her family member or his/her guest. The cost of any such damage shall be charged to the member's account. 5. Primary Golfer: If I am married, I understand I must designate below who will be the primary golfer under my membership. Primary Golfer (Print Name) 6. Required Signatures and Addresses: If I am married and applying for a family membership, the signature of my spouse is required as an applicant below. If my address changes, I will notify the Club in writing of my new address. 7. Governing Law: This Application for Membership Privileges shall be governed by and construed in accordance with the laws of the State of Georgia, without regard to principles of conflicts of laws. Dated:, 20 Signed: Applicant: Applicants Spouse:

6 APPROVED AND ACCEPTED: ASHTON HILLS GOLF CLUB, LLC, d/b/a ASHTON HILLS GOLF CLUB By: Date: