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 | ) | ||||||||
| Golf Legends Ltd., Inc. 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 Virginia L.C. 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 | % | ||||||
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 | 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 | 36-3834881 | ||||||
| 4/13/1998 | Olde Atlanta (redemption) | (62,838 | ) | (2,000 | ) | ||||||
| 5/20/1998 | Olde Atlanta (redemption) | (64,018 | ) | (2,000 | ) | ||||||
| 8/21/1998 | Olde Atlanta (redemption) | (52,388 | ) | (1,500 | ) | ||||||
| 12/10/1998 | Olde Atlanta (redemption) | (30,166 | ) | (1,150 | ) | ||||||
| 1/20/1999 | Olde Atlanta (redemption) | (66,079 | ) | (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 | (757,037 | ) | (70,422 | ) | ||||||
| 7/9/2001 | Residual Value | (1,096,369 | ) | ||||||||
| 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 | ) | ||||||||
Bright's Creek Development Co. LLC 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 | $ | — | — | — | |||||||
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 # | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2/4/1997 | W. Bradley Blair, II 14 North Adger's Wharf Charleston, SC 29401 | $ | — | 12,500 | 0.00 | % | |||||
| 12/31/2002 | W. Bradley Blair, II (conversion) | (12,500 | ) | ||||||||
| W. Bradley Blair, II Total | $ | — | — | ||||||||
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 Resorts, Inc. 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 | ) | ||||||||
| John J. Rainieri, Sr. 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 | % | ||||||
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 # | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 36-3903287 | ||||||
| 11/2/1998 | Eagle Watch (redemption) | (64,199 | ) | (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 | (696,149 | ) | (64,758 | ) | ||||||
| 7/9/2001 | Residual Value | (1,130,335 | ) | ||||||||
| 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 | (86,062 | ) | ||||||||
| (Value at Issue—Value at Redemption) | — | — | 0.00 | % | |||||||
| Granite Golf Corporation Total | $ | — | — | ||||||||
12/19/1997 | Stonehenge Golf Development, LLC 90 Mallet Hill Road Columbia, SC 29223 | $ | 4,500,000 | 169,811 | 56-2027442 | ||||||
| 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 Golf Development, LLC Total | $ | — | — | 0.00 | % | ||||||
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 # | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1/16/1998 | Mystic Creek Golf Club, Limited Partnership 1303 West Commerce Road Milford, MI 48380 | $ | 1,500,000 | 52,724 | 0.00 | % | 38-3187304 | ||||
| 9/20/2002 | Mystic Creek (redemption) | (91,792 | ) | (52,724 | ) | ||||||
| 9/20/2002 | Residual Value (Value at Issue—Value at Redemption) | (1,408,208 | ) | ||||||||
| Mystic Creek Golf Club 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 (Value at Issue—Value at Redemption) | (3,598,452 | ) | ||||||||
| 9/10/2002 | Cancelled | — | (9,259 | ) | |||||||
| 9/10/2002 | Residual Value (Value at Issue—Value at Redemption) | (249,993 | ) | ||||||||
| Okeechobee Championship Golf, Inc. Total | $ | — | — | ||||||||
| Date Admitted | Name and address of partners | Value of non-cash capital contribution | Partnership units issued | Approx. Percentage Interests | Federal ID # | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
5/22/1998 | Eagle Ridge Lease Company LLC 16100 N. Greenway-Hayden Loop Scottsdale, AZ 85260 | $ | 1,198,750 | 35,794 | 0.45 | % | 52-2099405 | ||||
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 | ) | ||||||||
| 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 (Value at Issue—Value at Redemption) | (1,002,585 | ) | ||||||||
| Osage National Golf Club LLC Total | $ | — | — | 0.00 | % | ||||||
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 # | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | % | 38-3148750 | ||||
| 6/20/2000 | Brentwood (Redemption) | (390,645 | ) | (24,482 | ) | ||||||
| 6/20/2000 | Residual Value | (259,355 | ) | ||||||||
| Brentwood Golf & Country Club, Inc. Total | $ | — | — | ||||||||
12/22/1998 | Gutta-Percha Golf, Inc. 365 W. California Blvd. Suite 2 Pasadena, CA 91105 | $ | 870,000 | 32,986 | 0.00 | % | 95-4493507 | ||||
| 9/5/2000 | Palm Desert (Redemption) | (460,785 | ) | (32,986 | ) | ||||||
| 9/5/2000 | Residual Value | (409,215 | ) | ||||||||
| Gutta-Percha Golf, Inc. Total | $ | — | — | ||||||||
2/4/1997 | GTA LP, Inc. 14 North Adger's Wharf Charleston, SC 29401 | $ | — | 7,868,789 | 99.34 | % | 58-2290326 | ||||
| 2/4/1997 | GTA GP, Inc. 14 North Adger's Wharf Charleston, SC 29401 | $ | — | 16,154 | 0.20 | % | 58-2290217 | ||||
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 | 38-3462287 | ||||||
| 9/25/2000 | Redemption at Disposition | (295,003 | ) | (10,169 | ) | ||||||
| Metamora Golf Operating Company, L.L.C. | $ | — | — | 0.00 | % | ||||||
Series C Preferred OP Units | |||||||||||
| 7/28/1999 | Burning Embers Corporation 801Aaron Smith Drive Bridgeport, WV 26330 | $ | 1,350,000.00 | 48,949 | 55-0720833 | ||||||
| 6/20/2001 | Redemption (foreclosure on collateral) | (1,350,000 | ) | (48,949 | ) | ||||||
| Burning Embers Corporation Total | $ | — | — | 0.00 | % | ||||||
