Schedule of Partners, Allocation of Partnership Units, and Non-Cash Capital Contributions for Golf Partnership

Contract Categories: Business Finance › Contribution Agreements
Summary

This document lists the partners in a golf-related partnership, detailing each partner's name, address, federal ID, the value of their non-cash capital contributions, the number of partnership units issued, and their percentage interests. It also records subsequent changes such as redemptions, conversions, and residual values, showing how each partner's interest changed over time. The schedule provides a transparent record of ownership and capital contributions for all involved parties as of various dates.

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EX-10.1(4) 3 a2092944zex-10_14.htm EXHIBIT 10.1.4
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Exhibit 10.1.4


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.
P.O. Box 2038
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
)
 
 
 

3/26/2002
 
Northgate (redemption)
 
 
(534,999
)
(94,273
)
 
 
 

3/26/2002
 
Residual Value
 
 
(3,103,103
)
 
 
 
 
 
       
 
       
    Northgate Total   $ —   0   0.00 %  

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     (1,096,369.48 )          
       
 
       
    Olde Atlanta Total   $ —   —   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
)
 
 
 
       
 
       
    David Dick Joseph Total     —   —        

2/4/1997
 
W. Bradley Blair, II
14 North Adger's Wharf
Charleston, SC 29401
 
$
—
 
12,500
 
0.16
%
###-##-####

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
)
 
 
 
       
 
       
    James Hoppenrath Total   $ —   —        

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
)
 
 
 
       
 
       
    Golf Host Total         —        

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.
102 West Crestview Circle, Suite 100
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
(Value at Issue — Value at Redemption)
 
 
(86,062
)
 
 
 
 
 

 
 
Granite Total
 
$
—
 
—
 
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
)
 
 
 

3/26/2002
 
Stonehenge Golf (conversion)
 
 
 
 
(94,340
)
 
 
 

8/13/1999
 
Equity Reclass
 
 
(4,500,000
)
 
 
 
 
 


 

 

 

 



 



 

 

 

 

 
 
Stonehenge Total
 
$
—
 
—
 
0.00
%
 


1/16/1998

 

Mystic Creek Golf Club, Limited Partnership
1303 West Commerce Road
Milford, MI 48380

 

$

1,500,000

 

52,724

 

0.00

%

38 ###-###-####

9/20/2002
 
Mystic Creek (redemption)
 
 
(91,792
)
(52,724
)
 
 
 

9/20/2002
 
Residual Value
 
 
(1,408,207.52
)
 
 
 
 
 
    (Value at Issue — Value at Redemption)                  
       
 
       
    Mystic Creek Golf Club, LP Total   $ —   —        

2/1/1998
 
Okeechobee Championship Golf, Inc.
2100 Emerald Dunes Drive
West Palm Beach, FL 33411
 
$
6,138,369
 
227,347
(1)
0.00
%
65-0115196

9/7/2001
 
Redemption at disposition
 
 
(2,289,924
)
(218,088
)
 
 
 

9/7/2001
 
Residual Value of Class A common OP units
 
 
(3,848,445
)
 
 
 
 
 
    (Value at Issue — Value at Redemption)                  

9/10/2002
 
Redemption of Class B non-dividend bearing common OP units at $-0- value
 
 
—
 
(9,259
)
 
 
 
       
 
       
    Okeechobee Championship Golf, Inc. Total   $ (1,500,000 ) —        

5/22/1998
 
Eagle Ridge Lease Company LLC
16100 N. Greenway-Hayden Loop
Scottsdale, AZ 85260
 
$
1,198,750
 
35,794
 
0.45
%
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
 
$
(424,437
)
 
 
 
 
 
    (Value at Issue — Value at Redemption)                  
       
 
       
    Golf Classic Resorts, LLC Total     —   —        

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
 
$
(1,002,585
)
 
 
 
 
 
    (Value at Issue — Value at Redemption)                  
       
 
       
    Osage National Total     —   —   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
)
 
 
 
 
 
       
 
       
    Brentwood Total     —   —        

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
)
 
 
 
 
 
       
           
    Gutta-Percha Total   $ —   —        

2/4/1997
 
GTA LP, Inc.
14 North Adger's Wharf
Charleston, SC 29401
 
$
—
 
7,856,289
 
99.19
%
58 ###-###-####

2/4/1997
 
GTA GP, Inc.
14 North Adger's Wharf
Charleston, SC 29401
 
$
—
 
16,154
 
0.20
%
58 ###-###-####

Total Common OP Units
 
 
 
 
7,920,737
 
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
)
 
 
 

 
 
 
 

 

 
 
 
 

 
 
Metamora Total
 
 
—
 
—
 
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
)
 
 
 

 
 
 
 

 

 
 
 
 

 
 
Burning Embers Total
 
 
—
 
—
 
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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Exhibit A SCHEDULE OF PARTNERS, ALLOCATION OF PARTNERSHIP UNITS, PERCENTAGE INTERESTS AND THE AGREED UPON VALUE OF NON-CASH CAPITAL CONTRIBUTIONS