Membership Frequently Asked Questions

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When will the Club's facilities be completed?

The Club's facilities will be completed in phases. The golf course and the practice facilities are anticipated to be open for use in 2006. Construction of the remaining Club facilities is set to commence in 2006, and completion of such construction is expected to require a period of approximately 24 months.

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What recreational and social facilities will be available to members of the Club?

The centerpiece of the Club will be an 18-hole championship golf course designed by Jack Nicklaus and Jack Nicklaus II. The golf facilities will also include a pro shop, an expansive driving range and a manicured practice putting green. A spectacular clubhouse with a top-of-the-line pro shop, men's and women's locker rooms, a grille restaurant and bar, banquet facilities, a classic boardroom, and wedding and reception facilities will be the focal point of the Club's social events and activities. An athletic club with health/fitness facilities including weight room, yoga and floor-exercise room, spa, sauna, steam rooms, men's and women's locker rooms, and hot tubs and an outdoor swimming pool will also be available at the Club. In addition, members will have the ability to rent a select number of resort-style villas in connection with weddings or other events, or to accommodate their guests.

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What membership opportunities are available at the Club?

The Club is offering Founder memberships, Golf memberships, Corporate memberships, Spa memberships and Social memberships. The Club reserves the right to also offer a limited number of recallable Invitational memberships, Developer memberships and Honorary memberships on terms and conditions determined by the Club in its sole discretion, from time to time.

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Are the number of memberships in the Club limited?

To ensure the high standard of service and accessibility that our members expect, the Club will limit the maximum number of memberships as follows: Founder memberships will be limited by the Club in its discretion; Golf memberships will be limited to 400, less the actual number of Founder memberships actually issued; Spa memberships will be limited to 200; and Social memberships will be limited to a number determined by the Club, in its sole direction, from time to time. The Club will limit the number of Corporate memberships to 50.

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What are the privileges of membership?

The Founder memberships and Golf memberships are designed for those individuals who wish to take advantage of all the outstanding club facilities, including golf. These members will have the highest priority to reserve golf starting times and will not be required to pay greens fees. These members will also be entitled to preferred pricing on merchandise at the pro shop, preferred advance sign-up for spa treatments, complimentary use of spa lockers, preferred rates on spa treatments and preferred pricing on merchandise at the spa center. Furthermore, Founder members will receive additional benefits as more specifically described in their respective Membership Agreements. Spa members will be entitled to use all of the Club facilities, except the golf course and golf-related facilities. However, a Spa member, his or her spouse, family members, and guests will be entitled to play up to a total of six (6) rounds of golf per calendar year upon payment of applicable greens fees and cart fees, and at such times as are determined by the Club. Social members will have access to and be entitled to use the dining and lounge facilities located in the main clubhouse, as well as attend and participate in social events and activities open to all members.

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What are some of the other special features of membership?

• Each membership is a family membership. The member's spouse and unmarried children under the age of 25 who live at home, attend school full-time or are serving in the military enjoy membership privileges on the same basis as the member.
• Married or adult children, parents, and grandchildren of the member and spouse or significant other and their spouses or significant others can use the facilities of the Club upon the payment of reduced fees.
• Members are not subject to either operating or capital assessments.
• Resigned members do not have to wait until all new memberships in the Club have been issued before their membership is reissued (or a replacement membership is issued, as the case may be), and they receive their refund (if applicable). Every fifth membership issued in each category will be a resigned membership from the waiting list.
• Members are encouraged to invite accompanied and unaccompanied guests to share the Club experience.
• The membership joining fee for Founder members, Golf members and Corporate members is fully refundable.
• Founder memberships and Golf memberships are transferable as a Golf membership through the Club to the subsequent purchaser of the member's home or home site within the Running Horse residential community.
• A Founder member under the age of 35 has the option of paying his or her membership joining fee in installments, in accordance with the terms and conditions of his or her respective Membership Agreement.
• Lessees of the member's home within the Running Horse residential community can access the Club facilities.

When will the membership joining fee be repaid to the member?

Each person who acquires a Founder membership or Golf membership will be entitled to receive a refund of his of her membership joining fee, without interest, thirty (30) years from the date of the member's admission to the Club. In the event that the member resigns from the Club before the end of the thirty-year period, the resigned member will be entitled to receive a refund of the membership joining fee within thirty (30) days after the reissuance of the resigned member's membership by the Club to a new member. Each entity acquiring a Corporate membership will also be entitled to receive a refund of its membership joining fee, without interest, thirty (30) years from the date of the entity's admission to the Club. In the event that the entity resigns from the Club before the end of the thirty 30-year period, the resigned entity will be entitled to receive a refund of the membership joining fee within thirty (30) days after the reissuance of the resigned entity's membership by the Club to a new entity member.
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Who is eligible to acquire a Founder membership?

Founder memberships will only be offered to Initial Purchasers (as such term is defined in the Membership Plan) and other select individuals, as determined in the Club's sole and absolute discretion and will be offered for a limited time as determined by the Club (the 'Offering Period').

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What happens if I do not acquire a Founder membership before the expiration of the Offering Period?

If you decide not to purchase a Founder membership before the expiration of the Offering Period, you or a subsequent purchaser of your property in the Running Horse residential community may acquire a membership at a later date only if one is available and not reserved by the Club, and only upon payment of the membership joining fee, which is then in effect at the time the membership is acquired.

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Can members be assessed to cover any operating deficits or capital improvements?

No. Members will not be subject to any assessments for operating deficits or capital improvements. The Company will be responsible for all deficits incurred in the operation of the Club and its facilities, and for the cost of all capital improvements.

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How will the Club keep informed of the needs of the members?

The Club is committed to providing the types of services, programs, activities and events that its members desire. The Club will keep its members informed of activities and events by a monthly newsletter and periodic e-newsletters.

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What protections are in place so that my rights and privileges as a member will continue in the event the Club facilities are sold?

In the event the Club facilities are ever sold, the existence of the Membership Plan will be disclosed, and the Club will require that the purchaser who acquires the title to the Club's facilities will do so subject to the terms and conditions of the Membership Plan.

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I am interested in obtaining a membership; what are my next steps?

To become a member, you must submit to the Club a fully completed and signed Membership Agreement and a check in the amount of the required membership joining fee. The Membership Agreement and the check should be submitted to the Membership Office.

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What if I have additional questions?

Please contact the Membership Office at:
Running Horse Golf & Country Club
502 South Marks Ave.
Fresno, CA 93706

This is a general description of the membership opportunities that will be available at the Club and should not be relied on for the purpose of deciding whether to acquire a residence or home site in the Running Horse community or a membership in the Club.

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