Schedule of Partners, Allocation of Partnership Units, and Non-Cash Capital Contributions for Golf Partnership
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Summary
This document lists the partners in a golf-related partnership, detailing each partner's name, address, federal ID, and the value of their non-cash capital contributions. It also shows the number of partnership units issued, percentage interests, and records of redemptions, conversions, and residual values over time. The schedule tracks changes in ownership and capital contributions, providing a clear record of each partner's involvement and the financial structure of the partnership.
EX-10.1(4) 3 a2056946zex-10_14.htm EXHIBIT 10.1.4 Prepared by MERRILL CORPORATION
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Exhibit A
SCHEDULE OF PARTNERS,
ALLOCATION OF PARTNERSHIP UNITS, PERCENTAGE INTERESTS
AND THE AGREED UPON VALUE OF NON-CASH CAPITAL CONTRIBUTIONS
| Date Admitted | Name and address of partners | Value of non-cash capital contribution | Partnership units issued | Approx. Percentage Interests | Federal ID # | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2/12/1997 | Golf Legends Ltd., Inc. 1500 Legends Drive Myrtle Beach, SC 29578 | $ | 30,647,030 | 1,532,352 | 57-0886834 | ||||||
| 4/2/2001 | Legends (conversion) | (294,613 | ) | ||||||||
| 7/31/2001 | Redemption at disposition | $ | (14,852,868 | ) | (1,237,739 | ) | |||||
| 7/31/2001 | Residual Value | $ | (15,794,162 | ) | |||||||
| Legends Total | $ | — | — | 0.00 | % | ||||||
2/12/1997 | Seaside Resorts Ltd., Inc. 1500 Legends Drive Myrtle Beach, SC 29578 | $ | 16,129,118 | 806,456 | 57-0729308 | ||||||
| 7/31/2001 | Redemption at disposition | (9,677,472 | ) | (806,456 | ) | ||||||
| 7/31/2001 | Residual Value | (6,451,646 | ) | ||||||||
| Seaside Resorts Ltd., Inc. Total | $ | — | — | 0.00 | % | ||||||
2/12/1997 | Heritage Golf Club, Ltd., Inc. 1500 Legends Drive Myrtle Beach, SC 29578 | $ | 16,031,230 | 801,561 | 57-0818596 | ||||||
| 1/6/1999 | Heritage (conversion) | (11,700 | ) | ||||||||
| 7/31/2001 | Redemption at disposition | (9,478,332 | ) | (789,861 | ) | ||||||
| 7/31/2001 | Residual Value | (6,552,898 | ) | ||||||||
| Heritage Golf Club, Ltd., Inc. Total | $ | — | — | 0.00 | % | ||||||
2/12/1997 | Legends of Virginia L.C. 1500 Legends Drive Myrtle Beach, SC 29578 | $ | 11,963,738 | 598,187 | 57-1003883 | ||||||
| 4/2/2001 | Legends (conversion) | (598,187 | ) | ||||||||
| 7/31/2001 | Residual Value | $ | (11,963,738 | ) | |||||||
| 0.00 | % | ||||||||||
| Legends of Virgiania Total | $ | — | — | ||||||||
2/12/1997 | Northgate 16055 Northgate Forest Drive Houston, TX 77068 | $ | 3,797,071 | 189,854 | 76-0527250 | ||||||
| 5/20/1998 | Northgate (redemption) | $ | (158,969 | ) | (5,000 | ) | |||||
| 1/6/1999 | Northgate (conversion) | $ | — | (30,000 | ) | ||||||
| 3/2/2001 | Northgate (conversion) | (60,581 | ) | ||||||||
| Northgate Total | $ | 3,638,102 | 94,273 | 1.14 | % | ||||||
2/12/1997 | Olde Atlanta Golf Club Limited Partnership c/o The Crescent Company 1580 S. Milwaukee Ave., Suite 101 Libertyville, IL 60048 | $ | 1,444,926 | 72,246 | 36 ###-###-#### | ||||||
| 4/13/1998 | Olde Atlanta (redemption) | $ | (62,837.60 | ) | (2,000 | ) | |||||
| 5/20/1998 | Olde Atlanta (redemption) | $ | (64,017.60 | ) | (2,000 | ) | |||||
| 8/21/1998 | Olde Atlanta (redemption) | $ | (52,387.50 | ) | (1,500 | ) | |||||
| 12/10/1998 | Olde Atlanta (redemption) | $ | (30,166.11 | ) | (1,150 | ) | |||||
| 1/20/1999 | Olde Atlanta (redemption) | $ | (66,078.50 | ) | (2,500 | ) | |||||
| 4/6/1999 | Olde Atlanta (conversion) | $ | — | (2,000 | ) | ||||||
| 5/1/1999 | Olde Atlanta (recapitalization) | $ | 683,967 | 30,826 | |||||||
| 5/27/1999 | Olde Atlanta (conversion) | (2,000 | ) | ||||||||
| 7/15/1999 | Olde Atlanta (conversion) | (3,500 | ) | ||||||||
| 1/10/2000 | Olde Atlanta (conversion) | (3,300 | ) | ||||||||
| 1/26/2000 | Olde Atlanta (conversion) | (4,100 | ) | ||||||||
| 4/28/2000 | Olde Atlanta (correction from 3/24/99) | 2,000 | |||||||||
| 8/14/2000 | Olde Atlanta (conversion) | (10,600 | ) | ||||||||
| 7/9/2001 | Redemption at disposition | (757,036.50 | ) | (70,422 | ) | ||||||
| 7/9/2001 | Residual Value | (1,853,405.98 | ) | ||||||||
| Olde Atlanta Total | $ | — | 0 | 0.00 | % | ||||||
2/12/1997 | Bright's Creek Development Co. LLC 104 Cotton Creek Drive Gulf Shores, AL 36542 | $ | 2,119,005 | 105,950 | 63-1120089 | ||||||
| 5/1/2001 | Redemption at disposition | (1,271,400 | ) | (105,950 | ) | ||||||
| 5/1/2001 | Residual Value | (847,605 | ) | ||||||||
| Woodlands Total | $ | — | — | 0.00 | % | ||||||
10/31/1996 | David Dick Joseph 14 North Adger's Wharf Charleston, SC 29401 | — | 12,500 | 0.00 | % | ###-##-#### | |||||
| 12/14/1999 | David Dick Joseph (conversion) | (12,500 | ) | ||||||||
| — | — | ||||||||||
2/4/1997 | W. Bradley Blair, II 14 North Adger's Wharf Charleston, SC 29401 | $ | — | 12,500 | 0.15 | % | ###-##-#### | ||||
2/4/1997 | James Hoppenrath 4221/2 Marguerite Ave. Corona Del Mar CA 92625 | $ | — | 3,750 | 0.00 | % | ###-##-#### | ||||
| 1/6/2000 | James Hoppenrath (conversion) | (3,750 | ) | ||||||||
| $ | — | — | |||||||||
6/20/1997 | Golf Host Resorts, Inc. c/o Starwood Capital Group, LP Three Pickwick Plaza, Suite 250 Greenwich, CT 06830 | $ | — | 274,039 | 0.00 | % | 84-0631130 | ||||
| 3/3/2000 | Golf Host (conversion) | (274,039 | ) | ||||||||
| — | |||||||||||
9/2/1997 | John J. Rainieri, Sr. Betty Rainieri 4350 Mayfair Road Uniontown, OH 44685 | $ | 3,198,168 | 114,237 | ###-##-#### ###-##-#### | ||||||
| 1/4/2001 | Redemption at disposition | $ | (910,632 | ) | (75,886 | ) | |||||
| 5/16/2001 | Redemption at disposition | $ | (460,212 | ) | (38,351 | ) | |||||
| 5/16/2001 | Residual Value | $ | (1,827,324 | ) | |||||||
| Rainieri Total | $ | — | 0 | 0.00 | % | ||||||
9/2/1997 | Raintree Country Club, Inc. 4350 Mayfair Road Uniontown, OH 44685 | $ | 204,138 | 7,292 | 0.00 | % | 34-1736212 | ||||
| 1/4/2001 | Raintree (redemption at disposition) | $ | (87,504 | ) | (7,292 | ) | |||||
| 1/4/2001 | Residual Value (Value at Issue - Value at Redemption) | $ | (116,634 | ) | |||||||
| Raintree Country Club, Inc. Total | $ | — | — | 0.00 | % | ||||||
9/30/1997 | Eagle Watch Golf Club, Limited Partnership c/o E. Neal Trogdon The Crescent Company 1580 South Milwaukee Avenue, Suite 101 Libertyville, IL 60048 | $ | 1,890,682 | 70,158 | 36 ###-###-#### | ||||||
| 11/2/1998 | Eagle Watch (redemption) | $ | (64,199.00 | ) | (2,150 | ) | |||||
| 5/21/1999 | Eagle Watch (conversion) | (1,250 | ) | ||||||||
| 4/28/2000 | Eagle Watch (correction from 3/24/99) | (2,000 | ) | ||||||||
| 7/9/2001 | Redemption at disposition | $ | (696,148.50 | ) | (64,758 | ) | |||||
| 7/9/2001 | Residual Value | $ | (1,130,334.50 | ) | |||||||
| Eagle Watch Total | $ | — | — | 0.00 | % | ||||||
10/17/1997 | Properties of the Country, Inc. 908 N. 2nd Street East Louisburg, KS 66053 | $ | 500,000 | 19,231 | 48-1157265 | ||||||
| 3/16/2001 | Redemption at disposition | (230,772 | ) | (19,231 | ) | ||||||
| 3/16/2001 | Residual Value | (269,228 | ) | ||||||||
| Properties of the Country, Inc. Total | $ | — | — | 0.00 | % | ||||||
11/25/1997 | Granite Golf Corporation 1510 N. Hayden Road, Suite 7 Scottsdale, AZ 85260 | $ | 650,000 | 24,424 | 86-0926890 | ||||||
| 7/2/1999 | Granite Golf (redemption) | (200,257 | ) | (8,393 | ) | ||||||
| 7/27/1999 | Granite Golf (redemption) | (237,935 | ) | (10,354 | ) | ||||||
| 8/13/1999 | Granite Golf (redemption) | (125,746 | ) | (5,677 | ) | ||||||
| 8/13/1999 | Residual Value | (86,062 | ) | ||||||||
| (Value at Issue - Value at Redemption) | — | — | 0.00 | % | |||||||
| $ | — | — | |||||||||
12/19/1997 | Stonehenge Golf Development, LLC 90 Mallet Hill Road Columbia, SC 29223 | $ | 4,500,000 | 169,811 | 56 ###-###-#### | ||||||
| 1/10/2000 | Stonehenge Golf (conversion) | (50,000 | ) | ||||||||
| 6/20/2000 | Stonehenge Golf (conversion) | (25,471 | ) | ||||||||
| $ | 4,500,000 | 94,340 | 1.14 | % | |||||||
1/16/1998 | Mystic Creek Golf Club, Limited Partnership 32605 West 12 Mile Road Suite 350 Farmington Hills, MI 48334 | $ | 1,500,000 | 52,724 | 0.64 | % | 38 ###-###-#### | ||||
2/1/1998 | Okeechobee Championship Golf, Inc. 2100 Emerald Dunes Drive West Palm Beach, FL 33411 | $ | 6,138,369 | 227,347 | (1) | 2.74 | % | 65-0115196 | |||
5/22/1998 | Eagle Ridge Lease Company LLC 16100 N. Greenway-Hayden Loop Scottsdale, AZ 85260 | $ | 1,198,750 | 35,794 | 0.43 | % | 52 ###-###-#### | ||||
5/28/1998 | Golf Classic Resorts, LLC 536 South Avenue Glencoe, IL 60022 | $ | 879,995 | 26,357 | 0.00 | % | 85-0453484 | ||||
| 11/26/1999 | Golf Classic Resorts (redemption) | $ | (199,633 | ) | (11,577 | ) | |||||
| 12/31/1999 | Golf Classic Resorts (redemption) | $ | (34,517 | ) | (2,060 | ) | |||||
| 2/7/2000 | Golf Classic Resorts (redemption) | $ | (221,408 | ) | (12,720 | ) | |||||
| 2/7/2000 | Residual Value (Value at Issue - Value at Redemption) | $ | (424,437 | ) | |||||||
| — | — | ||||||||||
8/28/1998 | Osage National Golf Club LLC 900 Hickory Street St. Louis, MO 63104 | $ | 3,451,068 | 124,700 | 43-1735431 | ||||||
| 6/30/1999 | Osage (Redemption) | $ | (1,393,382 | ) | (58,576 | ) | |||||
| 6/20/2000 | Osage (Redemption) | $ | (1,055,101 | ) | (66,124 | ) | |||||
| 6/20/2000 | Residual Value (Value at Issue - Value at Redemption) | $ | (1,002,585 | ) | |||||||
| — | — | 0.00 | % | ||||||||
12/14/1998 | Brentwood Golf & Country Club, Inc. 4801 Faircourt, West Bloomfield, MI 48322 PO Box 386, Union Lake, MI 48387 | $ | 650,000 | 24,482 | 0.00 | % | 38 ###-###-#### | ||||
| 6/20/2000 | Brentwood (Redemption) | $ | (390,645 | ) | (24,482 | ) | |||||
| 6/20/2000 | Residual Value | $ | (259,355 | ) | |||||||
| — | — | ||||||||||
12/22/1998 | Gutta-Percha Golf, Inc. 365 W. California Blvd. Suite 2 Pasadena, CA 91105 | $ | 870,000 | 32,986 | 0.00 | % | 95 ###-###-#### | ||||
| 9/5/2000 | Palm Desert (Redemption) | $ | (460,785 | ) | (32,986 | ) | |||||
| 9/5/2000 | Residual Value | $ | (409,215 | ) | |||||||
| $ | — | — | |||||||||
2/4/1997 | GTA LP, Inc. 14 North Adger's Wharf Charleston, SC 29401 | $ | — | 7,761,550 | 93.57 | % | 58 ###-###-#### | ||||
2/4/1997 | GTA GP, Inc. 14 North Adger's Wharf Charleston, SC 29401 | $ | — | 16,553 | 0.20 | % | 58 ###-###-#### | ||||
Total Common OP Units | 8,295,081 | 100.00 | % | ||||||||
Series A Preferred OP Units | |||||||||||
| 4/2/1999 | GTA LP, Inc. 14 North Adger's Wharf Charleston, SC 29401 | 20,000,000 | 800,000 | 100 | % | ||||||
Series B Preferred OP Units | |||||||||||
| 5/11/1999 | Metamora Golf Operating Company, L.L.C. c/o Total Golf, Inc. 1303 W. Commerce Drive Milford, MI 48380 | 295,003 | 10,169 | 38 ###-###-#### | |||||||
| 9/25/2000 | Redemption at Disposition | (295,003 | ) | (10,169 | ) | ||||||
| — | — | 0.00 | % | ||||||||
Series C Preferred OP Units | |||||||||||
| 7/28/1999 | Burning Embers Corporation 801 Aaron Smith Drive Bridgeport, WV 26330 | 1,350,000 | 48,949 | 55-0720833 | |||||||
| 6/20/2001 | Redemption (foreclosure on collateral) | (1,350,000 | ) | (48,949 | ) | ||||||
| — | — | 0.00 | % | ||||||||
- (1)
- Includes 218,088 Class A Common Units issued with a valuation of $5,888,376 and 9,259 Class B Common OP Units issued with a valuation of $249,993
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