2012 Membership Plan The Thunder Hills 2012 Membership Plan consists of the following items: Announcement Letter Membership Types Membership Pricing Promotions: Off Season Special Starters Special Locked-In Memberships Come Join Us! 16682 Thunder Hills Drive Peosta, Iowa 52068 (563) 556-3363 www.thunderhillscc.com 19
Announcement Letter Thunder Hills Country Club is pleased to present the 2012 Membership Plan. The goal of this plan is to increase and maintain our membership. The Board is committed to providing exceptional golf, dining, and social experiences for the enjoyment of our membership, their families, and guests at a fair and attractive value. Difficult economic times and changing lifestyles have convinced the Board that the 2012 membership plan is one that can compete with any Club in the state. We hope to give our members and prospective members more choice by offering different membership types and categories that best fit their needs, and also lowering dues wherever possible. Our main objective with the plan is to not only maintain our current members, but more importantly, to also attract new members to our Club. We believe that our new clubhouse and a fine golf course combine to make an excellent product for Thunder Hills. We see the 2012 timeframe as a unique opportunity to grow our membership as the economy improves, new employees relocate to the area, and a lower priced dues structure is in place. More importantly, our Club represents a real value versus other private clubs in the area, and this is something that we will continue to leverage. The following page will provide a summary of our Membership Plan. The eight different types of membership are defined, with each fitting into four basic categories: Single Married with 1 Player Married without Children Married with Children (Family) The accompanying price grid shows the specific initiation fee and dues amount associated with each new membership type. Not included in each amount is the monthly Reserve Fund fee of $10 to establish a reserve for future large capital projects. This fee just makes good business sense. We will then have the capital funds available when either a planned or unplanned major project occurs which will benefit all our members. Finally, we have developed a Starters and Off Season promotion that all new members should analyze. These promotional programs, for new members, provide additional discounts to our already lower dues structure. Please review the two promotions on the upcoming pages. Thank you for your interest in Thunder Hills Country Club and we look forward to seeing you soon. Board of Directors 20
Membership Types: Junior: Intermediate A : Intermediate B : Regular: Senior: Any person age 21 years to 29 years Any person age 30 years to 35 years Any person age 36 years to 44 years Any person age 45-64 years Any person age 65 years or older The above membership types include spouse or significant other, and unmarried dependent children under the age of 23. The age of the oldest family member determines the dues category regardless of gender. Privileges: Restrictions: Full access to golf course, pool, tennis, social and dining. Eligible to hold office and full voting rights. None Other Available Membership Types: Non-Resident: Any person age 21 years or older, including spouse or significant other, and unmarried dependent children under the age of 23. Any person residing, at least 6 months and 1 day, in a permanent residence outside a 90-mile radius of Dubuque County. Legal proof of ownership and residency must be shown prior to membership acceptance. Privileges: Restrictions: Full access to golf course, pool, tennis, social and dining. Not eligible to hold office or vote. New stock purchased is non-refundable. Currently owned stock must be rolled over no later than December 1 of the first year as a non-resident and becomes non-refundable. Corporate: Privileges: Restrictions: Available to an entity or organization that is a Partnership, Corporation, Association or LLC. Annual fee (no initiation fee) entitles corporation to a selected number of tee times per week (1, 2, or 5) excluding weekends, holidays, or special events. Corporation assigns a corporate coordinator and designates one (1) individual for unlimited playing time per this agreement. Same guest may only use this membership for up to three (3) rounds of golf per season. Full access to golf course, pool and dining Not eligible to hold office or vote Social Sports: Privileges: Restrictions: Any person age 21 years or older, including spouse or significant other, and unmarried dependent children under the age of 23. Full access to pool, tennis, driving range, social and dining, and golf four times per year (excluding social outings) at family guest rate. Not eligible to hold office or vote 21
- 2012 Membership Structure (Dues include sales tax, excludes $10/month reserve fund fee with the exception of Non Residents) Category Single Married w/1 Golfer Married Couple Family Type Junior Intermediate A Intermediate B Regular Senior Non- Resident (21-29 (30-35 (36-44 (45-64 (65+ Initiation Fee Monthly Dues 6 Month Minimum Initiation Fee Monthly Dues 6 Month Minimum Initiation Fee Monthly Dues 6 Month Minimum Initiation Fee Monthly Dues 6 Month Mini- $250 $68 $80 $250 $72 $100 $250 $76 $100 $250 $85 $100 500 101 80 500 108 125 500 114 125 500 127 125 750 122 100 750 130 150 750 137 150 750 152 150 1,000 134 100 1,000 143 150 1,000 152 150 1,000 169 150 750 107 100 750 114 150 750 121 150 750 134 150 750 200 150 750 200 150 750 200 150 750 200 150 mum Social Sports 0 50 100 N/A N/A N/A 0 50 150 0 50 150 Above Grid Reflects 1 st year pricing on a 4 Year Locked-In Promotion with the exception of Social and Non Resident rates The four (4) year Locked-In includes 50% off dues the first year. The Initiation Fees shown above already include a 50% discount off our published rates. Golf Membership Social Sports Member Above Grid reflects 1st year pricing on 3 Year Locked-In Immediate Family New members must pay 25% of initiation fee upfront and balance can be spread over next two years. Upon payment of upfront initiation fee (except Social Sports), new member will receive four (4) complimentary golf passes (not including cart). Full access to regular and social dining events, pool, tennis, driving range and golf four (4) times per year at family guest rate. 3 Year Lock-In monthly dues 1st Year-$50, 2nd Year- $60, & 3rd Year- $70. Immediate family can enjoy all Club facilities in accordance with category of membership. Immediate family includes spouse, significant other and unmarried dependent children under the age of 23. The age of the oldest family member, regardless of gender, determines the dues classification of all memberships. Single A membership held by an unmarried individual age 21 years or older. Reserve Fund Fee A monthly fee of $10 is added to all monthly dues (except Social Sports) to establish a reserve for future large capital projects. Funds will be placed in separate bank account and invested in FDIC-Insured CDs. 22
Off Season (Fall) Special Promotion Objective: Strong trial device for new members to promote golf and off season usage/dining. Details: SIGN UP NOW! effective through 4/30/12, upfront payment required; option to convert to our 2012 Membership Plan effective 5/1/12, with upfront payment being credited to the non-refundable initiation fee. Includes use of all golf and social facilities of the Club. Available one-time only for new member(s). Demit and resigned/dropped members must be out of the Club for at least one (1) year to qualify for this promotion. Excludes Social Sports, Non-Resident and Corporate members. Discounts related to this special promotion program are for a limited time only, and are not available in conjunction with any other special promotion programs offered by Thunder Hills Country Club. Cost of Off Season Special: $499 23
Starters Special Membership Promotion Start playing golf at Thunder Hills without all the expenses! Great Value! Cost $1,249..A Objective: Promote trial of golf course to new members via an enhanced Social Sports membership. Details: Twelve (12) months enhanced Social Sports membership with an option to convert to a Locked-In Membership Plan following expiration of twelve (12) month period. Includes four (4) lessons from Golf Professional Brian Wilson. Includes two (2) months (you choose!) of anytime use of the golf course. Available one-time only for new member(s). Demit and resigned/dropped members must be out of the Club for at least one (1) year to qualify for this promotion. Food minimum is applicable. Excludes cart rental fee. $249 payable upfront; $125 a month for 8 months starting May 1, 2012. Signed 12-month agreement, with conversion clause to a locked-in membership. Payment of dues by automatic bank withdrawal is required with a completed and signed ACH withdrawal form required. Discounts related to this special promotion program are for a limited time only, and are not available in conjunction with any other special promotion programs offered by Thunder Hills Country Club. 24
"Locked-In Membership Promotion New Members Get 50% OFF 1 st Year Dues! Objective: Encourage new members to join the Club and maintain their membership for a four year period. A one year membership is also available. New members choose which plan is best for them. The 4-Year Locked-In Plan has a higher overall discount (30%) to encourage a longer term commitment. 4-Year Locked-In Membership 1 st 12 months 50% off You Save $2,028! 2 nd 12 months 40% off You Save $1,622! 3 rd 12 months 30% off You Save $1,217! 4 th 12 months Full Price Total Savings $4,867* (30%) *Savings based on Regular Family Membership dues rate of $338/month. Details: Available one-time only for new member(s). Demit and resigned/dropped members must be out of the Club for at least one (1) year to qualify for this promotion. Excludes Corporate, Social Sports, and Non-Resident Memberships. 50% reduction of initiation fee; payable 25%/25%/25%/25% over initial two-year period and is non-refundable. Agreement for Locked-In Membership must be signed obligating member for payment of dues for the full duration of the locked-in timeframe. Food minimum is applicable. Payment of dues by automatic bank withdrawal is required with a completed and signed ACH withdrawal form required. New member will receive four (4) complimentary golf passes (not including cart). Discounts related to this special promotion program are for a limited time only, and are not available in conjunction with any other special promotion programs offered by Thunder Hills Country Club. Discounts will be based on the then current dues. 25
CLUB AMENITIES Beautiful new two-story brick Clubhouse with large and small banquet spaces, featuring well-appointed men and women s locker rooms, billiard room, and Golf Shop 18-hole championship golf course with practice range and Olympic size swimming pool Professional instruction programs in golf, swimming and tennis Highest rated Junior Golf program in the Tri-State area Golf privileges at over 200 private clubs around the country through Private Club Network 26