INNISBROOK RESORT AND GOLF CLUB CODE OF REGULATIONS

Effective: May 21, 2018

ARTICLE I: ORGANIZATION

  1. Salamander Innisbrook, LLC, d/b/a Innisbrook Resort and Golf Club (the Club) agrees to operate its clubhouses, golf courses, tennis courts, swimming pools and related existing recreational facilities (the Club facilities) to the best of its ability for the use and pleasure of the members and guests of the Club.

  2. The governing body of the Innisbrook Resort and Golf Club will be known as the Board of Governors, which will consist of seven persons. Such Board will define membership classifications, establish initiation fees and dues and promulgate rules and regulations for the conduct of members and guests relative to the use of the facilities and other related matters of the Innisbrook Resort and Golf Club.

  3. The Board of Governors will be comprised of four individuals designated by Salamander Innisbrook, LLC, d/b/a Innisbrook Resort and Golf Club plus one designated by the Innisbrook Condominium Association Board of Directors, who shall be either the President, member or past member of said Board, plus one designated by the Innisbrook Lessors' Advisory Committee, who shall be either the Chairperson, member or past member of said Committee, and one member-at-large. The member-at-large must be the President of, or his/her designated representative, from either the Innisbrook Women's Golf Association or the Innisbrook Men's Golf Association, on an alternating year basis. The members designated by the Condominium Association and the Lessors' Advisory Committee must be condominium owner and be a member of the Club. The terms of the members not designated by Salamander Innisbrook, LLC, d/b/a Innisbrook Resort and Golf Club will begin at the start of that organization's new year, and continue until such time as their successors are named by their respective organizations.

  4. The Chairman and Vice Chairman are elected by the members of the Board. Once selected, these officers will serve until successors are named.

  5. The Vice-Chairman will act in the absence of the Chairman. The Chairman or Vice Chairman may be removed without cause by a majority vote of the Board of Governors at any regular or special meeting at which a quorum is present.

  6. Any Board member not designated by Salamander Innisbrook, LLC, d/b/a Innisbrook Resort and Golf Club who does not or is unable to attend three consecutive meetings, or four meetings in a six-month period, may be removed at the discretion of the Board. The Chairman will select a committee to nominate a replacement to fill the remaining term of the displaced member. If the committee is able to, the replacement should come from the same organization as the removed person.

ARTICLE II: MEMBERSHIP

Membership in the Club entitles the member to such use of the Club facilities as may be set forth in this Code of Regulations, as the same may be amended from time to time, for the particular class of membership. Such membership does not give the member any rights of ownership in any of the real or personal property of the Club or any equity interest in the Club or the entity or entities that own the assets comprising portions of the Club and does not entitle the member to participate in the governance of or vote in connection with the operation of the Club.

  1. The membership of this Club consists of the following classes:

    1. Full Golf Memberships

      1. Golf Member (Innisbrook condominium owner)

        1. Except as provided herein, there will be only one Golf Member for each condominium and the number will be limited to 1,350 condominium owners, each of whom will be at least 21 years of age, subject to the initiation fees, dues and discounts set forth in Article II, Section B, and will have use of the golf courses (subject to the restrictions set forth herein and payment of a golf cart rental fee) and the tennis courts without the payment of court fees. In addition, the Golf Member will have the use of the other Club facilities including Loch Ness pool on an unlimited basis and those privileges set forth in Article II, Section C.

        2. During the Resort's "in-season", the Club may impose supplemental dues for golf course access. Participants in the Rental Pool Operation, governed by the Master Lease Agreement, as amended, will not be charged Supplemental dues unless authorized by the ALA/MLA.

        3. Proof of ownership by recorded deed shall be required for Innisbrook, Highlands and Promontory.

        4. Guests of Innisbrook Rental Pool Owners - A Guest of an Owner staying in an Owner's in pool unit reserved for Owner Occupancy is entitled to play golf at the applicable guest of member rates, plus enjoy all other owner privileges and discounts, even if the owner is not present.

          1. Golf Member (non-Innisbrook condominium owner) - Limited to 50 members composed of persons at least 21 years of age, whose rights, privileges and restrictions are the same as in Section A.1.a. (1) above.

          2. Golf Member - Highlands Golf Member - Limited to 54 property owners designated by the Wall Springs Conservatory, Inc. composed of persons at least 21 years of age, whose rights, privileges and restrictions are the same as in Section A .1. a. (1) above. Notwithstanding the above, at the discretion of the Board of Governors, 20 of the 54 can be restricted from access to the Golf Member specified tee times as defined in Article IV, Section G 1.

          3. Golf Member Honorary – Limited to 30 members approved, reviewed and renewed by both the Board of Governors and Salamander Innisbrook, LLC, d/b/a Innisbrook Resort and Golf Club on a calendar year basis, for business and promotional purposes composed of persons at least 21 years of age who have achieved celebrity, business or political status, whose rights, privileges and restrictions are the same as Article II, Section A.1.a. (1). Notwithstanding the above, at the discretion of the Board of Governors, members of this membership category may be restricted from access to the Golf Member specified tee times and may be terminated without cause at any time.

          4. Golf Member – Promontory – Limited to 110 property owners – composed of persons at least 21 years of age, whose rights, privileges and restrictions are the same as in Section A.1.a. (1) above.

          An owner of a Promontory residential unit is required to have at least a Social membership from the date of closing. This required membership is not "tied" to the Promontory units, so any current member can purchase a unit and only be required to maintain their existing membership pursuant to the Code of Regulations.

          The first retail purchaser of a Promontory residential unit is entitled to receive their initial membership with no initiation fee per the Development Agreement. In addition, the first retail purchaser of a residential unit may upgrade their membership to another class of membership with greater privileges pursuant to the Code within two years after such retail purchaser's initial closing date provided that the Golf Course Owner shall receive at the time of such upgrade the difference between the dues that would have been paid for such upgraded membership less the dues actually paid. Subsequent retail purchasers of a residential unit in Promontory must have a membership in the Club from the date of closing, pursuant to the terms of the Code, and will be subject to the current initiation fees and dues structure in place at the time of such purchase.

          Owners with memberships tied to the Highlands of Innisbrook development who sell their Highlands property and purchase a residential unit in Promontory are subject to the above requirements.

          If by September 30, 2018, the lot has not been sold for the first time, all future purchasers as of this date are subject to paying the prevailing Initiation Fee and dues.

        5. NIP 20 Year Class

          Requirements to enter into the NIP 20 Year Class are as follows:

          • Candidate will have maintained a Full Golf Membership for 20 continuous years, and

          • Candidate will have been an Innisbrook Condominium Owner for 20 consecutive years.

          Benefits of NIP 20 Year Class Membership:

          • The Board of Governors agrees that each annual increase in Full Golf Member club dues payable by a NIP 20 Year Class Member shall not exceed the increase in the Consumers Price Index – All Urban Consumers (CPI-U) (1982-1984 = 100) between August 31st of the previous year to the August 31st preceding the following Annual scheduling of the dues to which said increase shall apply, multiplied by 1.5; provided however, that the increase shall not exceed 6.5% annually. Said dues are to be rounded to the nearest one-dollar ($1) increments.

        6. Legacy Golf Membership - Legacy Golf Membership will be extended to children of existing Full Golf Members who are at least 25 years old. The Legacy Golf Membership would allow Members the same privileges as a Full Golf Member. This Membership will be limited to 100 Memberships.

        7. Young Executive Golf Membership - will be extended to people between the ages of 25 to 39. The Young Executive Golf Membership would allow Members the same privileges as a Full Golf Member. This Membership will be limited to 100 Memberships.

    2. Resort Golf Member - Limited to 350 members composed of persons at least 21 years of age, subject to the initiation fees, dues and discounts set forth in Article II, Section B, and granted the following privileges in addition to those set forth in Article II, Section C:

      1. Upon payment of prevailing golf fees set for Resort Golf Members, use of the golf courses four times each month during November, December, January, February, March and April, subject to tee time availability Thursday through Sunday. Unlimited golf is available Monday through Wednesday at the prevailing accompanied guest of member rate. During the months of May, June, July, August, September and October may play unlimited golf upon payment of golf cart rental fees, subject to tee time availability. Practice range and club storage use will be at member rates.

      2. Unlimited tennis court time in blocks of no more than two hours at no charge.

      3. Access to Loch Ness pool by Resort Golf members will be announced from time to time by the Club.

    3. Executive Golf Member acquired after January 1, 2003 and Corporate Member acquired before January 1, 1998 - Will have the same rights, privileges and restrictions as in Article II, Section A.3. above, except with respect to Transferability of Membership (Article II, Section D.3). With respect to the Executive Golf Member, the following restrictions apply:

      1. Limited in number to membership availability under Resort Golf Membership category.

      2. Each membership is limited to four designees who are Board members, Partners, Principals or employees of the Executive membership applicant (the applicant being in active business). Said membership applicants are subject to verification of the business relationship.

      3. Each membership is required to name a primary designee and must maintain the dues on that designee continually, regardless of the status of the additional individual designees up to the four-designee maximum.

      4. Each individual designee must meet all qualifications of membership set forth in Article II, Section A.3.above, including all rights, privileges and restrictions set forth in this Code of Regulations. Necessary disciplinary action of an individual designee could result in the loss of a designee for said membership applicant.

      5. Notwithstanding this paragraph 4 regarding the limitation of four designees, said limitation could be up to eight designees at such initiation fees as determined by the Board of Governors from time to time.

    4. Resort Member - No longer offered. Memberships as of December 31, 2000 will continue to be honored, subject to the dues and discounts set forth in Article II, Section B, and granted the following privileges in addition to those set forth in Article II, Section C:

      1. Upon payment of prevailing resort guest golf fees discounted 40%, use of the golf courses during the months of May, June, July, August, September and October, subject to tee time availability. Practice range and club storage use will be at member rates. Saturday golf clinics are at no charge during the above period.

      2. Access to Loch Ness Pool Monday through Friday and other designated times, as announced by the Club.

    5. Tennis Memberships

      1. Tennis Member – No longer offered. Memberships as of September 20, 2007 will continue to be honored subject to the dues and discounts set forth in Article II, Section B, and granted the following privileges in addition to those set forth in Article II, Section C:

        1. Unlimited tennis court times in blocks of no more than two hours.

        2. Use of the golf courses from May 1 through October 31 at a 40% discount on prevailing resort guest golf fees for Members, subject to tee time availability.

        3. Practice range at resort rates; no club storage available.

        4. Access to Loch Ness pool by Tennis members will be announced from time to time by the Club.

      2. Tennis Member – An annual membership limited to 150 members (Family or Single) to include memberships defined in Article II, Section A 6 a and b, composed of persons at least 21 years of age, subject to an annual fee, dues and discounts set forth in Article II, Section B, and granted the following privileges in addition to those set forth in Article II, Section C:

        1. Unlimited tennis court times in blocks of no more than two hours.

        2. Unlimited use of racquetball courts and fitness center located in the Tennis Center.

        3. Practice range at resort rates.

        4. Access to Loch Ness pool by Tennis members will be announced from time to time by the Club.

      3. Single Tennis - Single Tennis memberships will be extended to tennis players that do not wish to include family Members. This membership does not include use of any resort amenities other than unlimited use of the tennis courts. Single Tennis Membership has a commitment of 12 full calendar months for the first year and will automatically continue with monthly dues and subsequent annual fees, billed in advance, each year prior to the anniversary date and is limited to 25 Memberships.

    6. Clubhouse-Highlands Member - Limited to 156 members, composed of persons at least 21 years of age, subject to the fees, dues and discounts set forth in Article II, Section B and granted the following privileges in addition to those set forth in Article II, Section C:

      1. Practice range at resort rates; no club storage available.

      2. Access to Loch Ness pool by Clubhouse members will be announced from time to time by the Club.

    7. Social Member – An annual membership limited to 600 members (Family or Single), composed of persons at least 21 years of age, subject to an annual fee, dues and discounts set forth in Article II, Section B and granted the following privileges in addition to those set forth in Article II, Section C:

      1. Practice range at resort rates.

      2. Access to Loch Ness pool by Social members will be announced from time to time by the Club.

    8. Partners Membership - Limited to 50 memberships available only to a limited liability company with an acceptable operating agreement that purchases through Golf Host Securities, Inc. an Innisbrook condominium that will continuously participate in the MLA. Each membership will be composed of no more than four persons (Program A) or six persons (Program B) at least 21 years of age, owning at least one share of the limited liability company, (proof of ownership required), subject to the initiation fees, dues and discounts set forth in Article II, Section B, and granted the following privileges:

      1. During periods of owner occupancy, members will have the same rights, privileges and restrictions of a Golf Member as set forth in Section A.1.a. (1) above. Owner occupancy by the individual members will not exceed four weeks in the aggregate during the in-season. For example, should all Program A members occupy the unit during the same week; the four weeks available for owner occupancy during the in-season would be utilized. For the Program B members, owner occupancy shall not exceed thirty days by each individual member, said thirty days being restricted to the months of May through December.

      2. During periods of the units' rental pool availability, the Partners Membership will have the same rights, privileges and restrictions of a Resort Golf Member as set forth in Section A 3 above.

      3. Partners members will have the use of the Loch Ness pool on an unlimited basis.

  2. Initiation Fees, Dues and Discounts:

    1. There is a schedule of initiation fees, annual fees and dues appended hereto. This schedule is subject to change from time to time by the Board of Governors, without notice. Initiation fees, annual fees and dues are nonrefundable.

    2. Dues for Golf, Resort Golf and Executive Golf, Resort, Tennis, Social and Partners memberships are due and payable on the first day of each calendar quarter. The first annual fee for Tennis and Social memberships are payable in full on the date of application. The first annual dues for Clubhouse-Highlands memberships are payable in full at time of application and are billed annually as defined by the Walls Springs Conservatory, Inc. agreement.

    3. The supplemental dues provided in Section A.1.a. (2) above, are paid in two installments. Seventy-five percent of the amount is due January 1 annually and twenty-five percent is due April 1 annually. Members not electing to pay the supplemental dues will be excluded from golf course access only during the resort's "in-season", as defined in the Annual Lease Agreement.

    4. All members and their accompanied guests, totaling no more than a party of eight per member, will receive a 15% discount on food and beverage paid for by the member. These discounts are not applicable to more than a party of eight, for pre-planned functions, conference center events or other retail purchases. These discounts will be given only upon presentation of the membership card.

    5. A 25% discount off the best available rate for room accommodations for all Members and their accompanied guests. This discount applies only when room accommodations are booked and paid for by the member.

    6. Golf and tennis instruction, youth programs and fitness center use will be at discounted rates unless otherwise noted in the membership description.

  3. Rights & Privileges of Immediate Family:

    1. The immediate family of a Member (regardless of classification) shall consist of the Member's spouse or domestic partner (as defined herein), and children supported by the Member under 25 years of age residing in the principal home of the Member (including time in school).

    2. The domestic partner of a Member shall be a companion living with the Member on a continuous basis, legally eligible to be married to the Member, and approved by the Board of Governors. The Member and the domestic Partner will sign an agreement satisfactory to the Board evidencing the relationship and agreeing to the financial obligations incident thereto. Thereafter the Member may terminate this membership privilege at any time by giving written notice to the Board. Also the Board may terminate this membership privilege at any time by giving written notice to the Member, upon the finding that the relationship does not continue to meet the requirements of this provision. Said decision is not subject to review by the Member.

    3. Each member of the immediate family shall have the same rights and privileges of use of the Club facilities as the Member and each shall be issued a membership card. The Member shall cause said card to be returned to the Club upon the termination of the immediate family status.

  4. Transferability of Membership, Subject to the Approval of the Board of Governors- Membership may be transferred only as follows:

    1. In the event of the death of a Golf Member (or of a shareholder of a limited liability company holding a Partner membership), said member's surviving spouse or domestic partner shall be entitled to continue the membership of said deceased member without the payment of an additional initiation fee or a transfer fee. The surviving spouse or domestic partner shall then be designated the Golf Member. Thereafter, said Golf Member shall be entitled to transfer said membership to his or her child or a child of the deceased member without the payment of an additional initiation fee or transfer fee. If there is no surviving spouse or domestic partner, one surviving child of said deceased member may continue said membership upon the same terms. In either case, said surviving child may subsequently transfer said membership to his or her child with the payment of a transfer fee, and thereafter all subsequent transfers shall be subject to the transfer fee then in effect. Transfers by a Golf Member to Highlands Golf Member and transfers by a Highlands Golf Member to Golf Member shall not be deemed a transfer as addressed in this paragraph. Notwithstanding this provision and other provisions of this Code, participants in the Master Lease Agreement then in effect shall be entitled at any time to make a one-time transfer of his or her golf membership to a child who continues said condominium in the lease operation without incurring an additional initiation fee or transfer fee. In all cases, proof of ownership by recorded deed, held individually or by trust, shall be required.

    2. A Resort Golf Membership may be transferred to the surviving spouse or domestic partner one time only without further initiation fee.

    3. A Corporate or Executive Golf Membership may change member designees without payment of a transfer fee in cases where such member designee dies, is transferred to a distant locale or leaves the employ of the company, subject to individual designee application and Board of Governors approval.

    4. The Golf Membership of a condominium titled in a limited liability company, partnership or corporate name may be transferred to another limited liability company, partnership or corporate designee upon payment of a transfer fee, except no transfer fee will be required where the designated Golf Member either dies, is transferred out of the continental United States or leaves the business entity, so long as the application for transfer occurs within one year of the qualifying event. In any case, no more than one transfer without an initiation fee will be permitted within a five-year period.

      Transfer of a condominium title from a Golf Member to one of the above referenced business entities involves no transfer fee if the designated Golf Member remains the same. Also, transfer of a condominium title from one of these entities to the existing corporate designated Golf Member will require no transfer fee.

      An above referenced business entity may remove its designated Golf Member upon notification to the Board of Governors and surrender of all membership cards. Should such entity re-designate a Golf Member, a transfer fee will be payable.

    5. The Golf Membership associated with a condominium owned by a single individual may be transferred from one condominium to another without penalty, by the original holder of the membership. However, if the member seeking such transfer acquires less than a 50% ownership, the membership may be transferred only upon consent of the co-owners and payment of the then existing initiation fee. For those condominium units in which there are two or more owners with one Golf Membership, a transfer to another condominium unit will permit the same ownership to be transferred by the existing Golf Member, provided that the ownership of the new unit is identical to the ownership of the previous unit or the transferring member acquires not less than 50% ownership in the new unit.

    6. Transfer of a condominium title from a Golf Member to a trust, which the Golf Member establishes for his benefit, will not require a transfer fee if the Golf Member remains the same. Also, transfer of a condominium title from a trust established by a Golf Member to said Golf Member will not require a transfer fee so long as the Golf Member remains the same.

    7. When condominium ownership is by a trust, the Trustee will designate the original Golf Member and any transfer of membership will require an initiation fee, except as provided below in Article II, Section D 8.

    8. A member may give a unit to one of his children who will become the Golf Member upon receipt by the Rental Pool Accounting Department of a recorded deed and upon payment of a transfer fee, except as provided in Article II, Section D.1.

    9. The membership of a shareholder participating in a Partners membership may be transferred to a new shareholder replacing the previous shareholder upon the payment of a fee equal to the related pro-rata portion of the Partners membership times the initiation fee currently in effect.

    10. If an Executive Golf member transfers the value of his membership to a higher classification, a new Executive Golf member may replace the previous member upon payment of a fee equal to the related pro-rata portion of the Executive membership times the initiation fee currently in effect.

  5. Reclassification of Membership, Subject to Board of Governors Approval:

    1. If a member wishes to change to a lower membership classification, such change may be made without payment of an initiation fee, provided that the currently existing level of such fee for the new classification is less than or equal to the currently existing level of initiation fee for the member's existing membership and that all other qualifications for membership to which the change is being made are met.

    2. Should a member drop down in membership classification and subsequently request to come back up to the previous membership classification, such member will be required to pay the difference between the amount originally paid for the higher classification and the currently existing initiation fee for the higher classification.

    3. A payment of an initiation fee to change to a higher classification will be required if the currently existing level of initiation fee for the new classification is greater than the amount actually paid for the initiation fee for the member's existing membership. Said payment will be the difference in the initiation fees at the time of the change. A "Golf Member participating in the rental pool" who had this membership classification prior to January 1, 2000, and is changing membership classification to "Golf Member not participating in the rental pool" will not be bound by this restriction. Subject to availability under Article II, A.1.b, a change in classification from a "Golf Member-Innisbrook condominium owner" (Article II, A.1.a) or from a "Golf Member-Highlands property owner" (Article II, A.1. c) to a "Golf Member non-Innisbrook condominium owner" (Article II, A.1.b) will require the payment of an initiation fee equal to the lesser of the difference between the currently existing initiation fee for the non-owner classification and the initiation fee originally paid by the owner; or the difference between the currently existing non-owner classification fee and the present rental pool participant fee.

  6. Termination of Membership:

    1. All classifications of membership, and/or individuals that comprise such memberships are subject to disciplinary action by the Board, up to and including membership termination, without refund of initiation fees, if dues or other payments are not paid in accordance with the payment schedules set forth elsewhere herein.

    2. Any membership may be terminated voluntarily at any time upon submitting written notice to the Club. The date of such termination will be the date such written notice is received by the Club. The Board of Governors may terminate any membership pursuant to Article VII, Section B. In either case, initiation fees will not be refunded.

    3. A Golf Member owning more than one condominium is not required to maintain more than one Golf Membership, however, a separate Golf Membership is required for each condominium participating in any rental pool lease operation. Once a membership has been terminated, any requests for reinstatement must be accompanied by the then prevailing initiation fee for the particular classification, except that a Golf Member who has continuously maintained another Golf Membership during the entire period of termination may have the terminated membership reinstated upon payment of a transfer fee, provided such member has continually owned the terminated membership condominium.

    4. The Partners membership of a shareholder in a limited liability company owning an Innisbrook condominium will terminate upon the sale of the shareholder's interest in the limited liability company or the sale of that condominium by the limited liability company. The Partners membership will not be considered as terminated if a shareholder/member sells his/her shares in the limited liability company condominium and, at or prior to the closing of such sale, gives notice to the Club of his/her intention to purchase a new shareholder interest in another limited liability company owning an Innisbrook condominium. Within 120 days of the closing of such sale, the shareholder/member must complete the purchase of a share in another limited liability company owning a different Innisbrook condominium. This non-ownership grace period is conditional upon timely payment of full membership dues during the 120-day period and is subject to the provisions concerning transferability set forth in Article II, Section D.

    5. Golf Member (condominium owner) and Golf Member (Highlands property owner) shall terminate upon the sale of the member's condominium or property provided, however, that such membership shall not be considered as terminated if a member sells the condominium or property and, at or prior to closing of such sale, gives notice to the Club of member's intention to purchase a replacement Innisbrook condominium or replacement Highlands property and within 120 days of closing of such sale, closes the purchase of the condominium or property. This non-ownership grace period is conditional upon full membership dues being paid timely during said 120-day period, subject to the provisions concerning transferability set forth in Article II, Section D.

ARTICLE III: HOUSE RULES

  1. At no time does a membership allow the member, the member's family or guests access or entrance to any lodge. Violation of this restriction will be cause for immediate termination of membership.

  2. Member identification and charge privileges are as follows:

    1. The clubhouses and common grounds are intended primarily for the use of the Club members, their guests, and the persons renting condominiums at Innisbrook Resort under Innisbrook's short-term rental arrangements where Salamander Innisbrook, LLC, d/b/a Innisbrook Resort and Golf Club is the lessee of the condominium. The use of the clubhouses and common grounds will not be extended to others except as authorized by this Code of Regulations. Persons occupying a condominium at Innisbrook on any other basis may not use the clubhouses, golf courses, tennis courts, swimming pools and related recreational facilities.

    2. A membership card with account number, membership type, expiration date and photo identification will be issued to every member. Presentation of the membership card is required for use of the Club facilities and charge purposes. Membership cards are to be used only by the persons to whom they are issued. A membership card used by other than the member will be confiscated and the member will be subject to disciplinary action as set forth in Article VII, Section B.

    3. Children of members who meet the requirements of Article II, Section C.1 will be issued cards at the written request of the member, stating the date such child will be 25 years of age. This child's card will have such date embossed, at which date said card will expire.

    4. Members may sign for all purchases using their approved signature and membership card. No charges will be made to the member's account without presentation of the membership card. Should the membership card be lost or stolen, the Innisbrook Accounting Department must be notified promptly with subsequent confirmation in writing to prevent unauthorized charges on the member's account.

  3. Guest identification, privileges, and restrictions are as follows:

    1. A guest of member not occupying a member's condominium must be accompanied by the member when using the Club facilities. A guest of member occupying a member's condominium is a person residing in a condominium without remuneration for the use of the condominium being made to the owner of that, or any other, condominium, or the Resort. Arrangements may be made by the member for the issuance of guest of member cards to guests of members occupying the member's condominium. Such guest of member cards will be issued by the Resort only when requested in writing by the member and the member is responsible for the payment of all charges incurred by the guest. Unless a guest of member card is issued, the member will accompany their residing guests when such guests are using the Club facilities.

    2. Guest of member cards will not be issued by the Resort for a period greater than fourteen consecutive days. This does not apply to guests of members staying in units that are in the rental pool. The number of guest of member cards issued for any one time period will not be greater than the normal occupancy of the respective condominium.

    3. Guests of members will not be permitted to use the member's card at any time. Violations thereof will subject the member to the penalties specified under Article VII hereafter.

    4. Resort guest cards will be issued to parties renting condominiums under Innisbrook's MLA rental arrangements for the use of the Club facilities upon payment of all published charges, but the member who owns the condominium will not be responsible for any of said charges by such tenant. The Declaration of Condominium, the Master Lease Agreement, set forth various prohibitions with respect to individual condominium rental directly by the condominium owner. Violations of such prohibitions will subject such member to a one-year suspension of membership.

    5. Guests of Owner staying in a Rental Pool Unit that has been reserved for Owner Occupancy as provided in the MLA, shall pay Guest of Member rates for golf even if unaccompanied by the Owner or other Member. Guests of Rental Pool Owners shall also receive the Golf Member's privileges and discounts at all Resort facilities and amenities, even if unaccompanied by Owner or other Member, in accordance with the Code of Regulations.

    6. The ability of members to have guests utilize the Club facilities is governed by their membership classification and other restrictions which are set forth elsewhere in the Code of Regulations. Guests of members are permitted to enjoy all of the Club facilities to which the member is entitled so long as they are accompanied by their member host, except as set forth in Article III, Section B. Use of the facilities by guests will not interfere with member and resort guest usage. Guests may be subject to charges for the use of, and/or limited access to, certain facilities, which are covered by the member's privileges. Members are responsible for the conduct of their guests.

    7. No non-member of the Club will play golf at the Club more than eight times or tennis at the Club more than eight times in any calendar year as an accompanied guest of one or more members. For the purpose of this provision, during periods in which the non-member resides in a condominium as a guest of member as set forth in Article III, Section C 1, the non-member will be permitted to play golf and tennis, or both, up to fourteen times per calendar year as an accompanied guest of member.

    8. No member may utilize Club facilities or play golf at reduced rates as a guest of another member. However, in those designated months when golf course access is not permitted by a particular membership classification, these aforementioned members in good standing may utilize club facilities or play golf as an accompanied guest of member with golf course access, at the appropriate rate.

    9. The Board of Governors may authorize that the Club facilities be made available for limited use to members or associates of other golf clubs and tennis clubs in good standing, provided, however, that such use will in no way interfere with member and resort guest usage of such Club facilities. These guests will be known as Day Guests.

    1. Notwithstanding any provisions to the contrary herein, the Chairman of the Board of Governors may from time to time, in his sole discretion, authorize limited non-member use of the Club facilities, so as to more efficiently utilize the Club facilities, provided, however, that such use will not interfere with member and resort guest usage of the Club facilities.

    2. Notwithstanding any provisions to the contrary herein, the Club may, in its sole discretion, enter into reciprocal use privilege and access agreements with other clubs managed by Salamander or its affiliates. The Club and owners of the other clubs may determine, in their sole discretion, the privileges and access to be provided to the members of the reciprocating clubs and the fees and charges for such use.

  4. No Club related notices will be posted unless first approved by the Board of Governors.

  5. Members and their guests will be liable for misuse and damage to Club premises. Willful or careless damage to property will also subject the member to disciplinary action as set forth in Article VII, Section B.

  6. Animals are only permitted while on a leash. However, animals are not allowed in the clubhouses, on the golf courses, at the swimming pools or at the tennis facility. No persons at any time shall maintain or keep any animals or pets on the club premises in a manner which shall create an annoyance or nuisance to other owners or other persons. Any complaints by owners or other persons in regards to such annoyance shall be directed, in writing, to the Innisbrook Resort and Golf Club Board of Governors.

  7. No games, which may be considered prejudicial to the good order and interest of the Club, will be permitted on any part of the Club premises.

  8. No reprimand will be given by members to employees of the Club. Complaints will be made in writing to the Board of Governors giving the name of the employee, the date, the subject matter of the complaint and the name of the complaining member.

  9. Requests and suggestions should be made in writing and addressed to the Board of Governors.

  10. The wearing of bathing suits will not be permitted in the interior of the clubhouses, other than the locker rooms and grill rooms. Bathing suits must be covered with appropriate jackets or robes when worn in the grill rooms. Shoes or sandals also must be worn.

  11. No members or guests will be permitted to bring food or beverages into the Club facilities for consumption therein.

  12. The use or operation of motorized bicycles, scooters, golf carts, mopeds or motorcycles on the Club premises is prohibited. However, Club employees using such motorized vehicles for transportation to and from work may come upon the Club property in said vehicles solely for that purpose.

  13. Harming, or harassment in any fashion, or feeding of the natural wildlife present on the club premises is strictly prohibited. Any member found responsible for harming or harassing the wildlife, subsequent to a Board of Governors review and if necessary, a formal governmental examination of the alleged event, shall be subject to the full disciplinary authority of the Board up to and including termination of said membership.

  14. Members are responsible for their own conduct and for the conduct of their family members and guests. Any Member whose conduct or whose family's or guest's conduct shall be deemed by the Board of Governors to be likely to endanger the welfare, safety, harmony or good reputation of the Club or its Members or is otherwise improper, may be reprimanded, suspended or terminated from the Club and have all privileges associated with the Membership suspended or terminated by the Board of Governors. The Board of Governors shall be the sole judge of what constitutes improper conduct, but improper conduct will include, without limitation: (i) submitting false information on the Membership Agreement, (ii) failing to abide by the rules and regulations as set forth herein and as established by the Board of Governors from time to time, (iii) abusing, harassing or intimidating Service Professionals, Resort Guests or Members using physical force, un-sportsmanlike conduct, profanity, unwanted advances, denigration or acting in a manner incompatible with the standard of conduct of the existing Membership or which would likely injure the reputation of the Members, the Club or the Resort.

ARTICLE IV: GOLF COURSE GROUND RULES

  1. The Rules of Golf of the United States Golf Association, together with the Rules of Etiquette of Golf as adopted by the U.S.G.A., will be the rules of the Club for governing play, except when in conflict with local rules or with any of the rules hereinafter stated.

  2. The Board of Governors recognizes the Men's and Women's Golf Associations as the only Board approved golf organizations conducting members' golf events.

  3. All members and guests are required to register at the Golf Shop prior to commencement of their play. Starting times are required for all play. The Director of Golf and the Head Golf Professional are in complete charge of each course and are responsible for enforcing the golf course rules and regulations.

    1. Players will start from such tee as directed by the Head Golf Professional or the player assistant and at the assigned starting time.

    2. Players in more than a foursome are not permitted on the course unless authorized by the Director of Golf.

    3. Members and guests will respect the directions and decision of the Head Golf Professional and the player assistant.

    4. All golfers are to maintain a reasonable rate of play (18 holes should be played in 4 ½ hours). When unable to do so for any reason, they must give way to faster players and not resume play until these players are out of reach. Foursomes always have the right-of-way. Groups of lesser numbers should not request or expect to be invited to play through.

    5. If player, guest or member, is not conforming to the Innisbrook Resort and Golf Club golf course rules, the operational procedure is as follows:

      1. First Offense – the Golf Professional, Golf Course Player Assistant or Golf Associate is to advise the player of the violation and request that there be no further occurrence of the violation.

      2. Second Offense of the same violation – the Golf Professional in charge will inform the player that he is again in violation and that a third occurrence will result in that player being escorted from the course and his/her golf privileges will be suspended for the balance of the day.

      3. Third Offense of the same violation – the Golf Professional in charge will notify the Director of Golf and the player will be escorted from the golf course by the Golf Professional. Said players' golf privileges will be suspended for the balance of the day.

      4. Habitual/repeat offenders, who are found in violation of the golf course rules and have received the first and second warnings on differing days, shall be handled in the same fashion as above in paragraph 5 c for the third offense, irrespective of the number of days elapsing between offenses. For all members, a second suspension will result in the member being immediately notified by the Director of Golf of a two-week suspension of all golf privileges and a written report will be submitted to the Board of Governors for further disciplinary action.

  4. Usage of golf carts is mandatory and they will be operated only according to the following procedures:

    • Anyone operating a golf cart must have either a valid restricted or unrestricted operator's license.

    • No more than two persons and two golf bags will be allowed in a golf cart.

    • Cart lessees must abide by the directions of the Head Golf Professional and player assistant.

    • Carts will follow established paths or marked routes around the course. Carts should never be driven on tees or slopes of greens or closer than ten yards from the tees and greens. The club encourages the use of the ninety-degree cart rule. Any exception to this Section D 4 (e.g., physical impairment) must be submitted in writing to the Board of Governors.

    • No private golf carts may be operated at the Club, nor will hand-pulled carts be allowed on the golf courses.

    • No players are permitted to carry their golf bags, except by authorization of the Director of Golf or the Head Golf Professional.

    • The Director of Golf will determine when the course is unfit for golf carts and play.

  5. On the practice putting greens at the clubhouses, chipping is permitted but pitching is not allowed. The Highlands Practice Facility should be used for all pitching. Hitting of golf balls for practice is prohibited on all courses and is restricted to the Highlands Practice Facility and the Copperhead Practice Facility prior to assigned Copperhead tee times. Practice Facility golf balls are prohibited on the golf courses.

  6. "Ball-hawking" is not permitted during normal playing hours as determined by the Director of Golf. The use of any and all types of raking devices is prohibited.

  7. Tee time procedures and restrictions are as follows:

    1. Golf Members will have specified tee times subject to the Resort's reasonable right to re-schedule those times based on past practices and current Resort tee time inventory needs. The Golf Member specified tee times will total 52 tee times daily, based on the availability of four courses and allocated over the open courses on each day of the week. Golf Members will have access to all available tee times on an as available basis with tee times secured as defined in Section G 3 below.

    2. A Golf Member must play in any foursome, within the Golf Member specified tee times, that includes the member's accompanied guests. No member may have more than seven accompanied guests on any given day unless the Director of Golf has approved such guest play and such play occurs outside the members specified tee times.

    3. Golf Members may make two tee times in or out of Golf Member specified tee times up to seven days in advance. Golf Members may make multiple tee times for greater than two foursomes, in or out of the Golf Member specified tee times up to six days in advance, provided all of the appropriate fees are guaranteed by the Golf Member requesting the multiple tee times (see Article IV, Section G.8 below).

    4. Subject to Article II, Resort Golf, Executive Golf and Corporate members may make tee times outside of the Golf Member specified tee times up to four days in advance and within the Golf Member specified tee times two days in advance, except during the time period of May 1 through October 31, when Resort Golf and Executive Golf Members may make tee times seven days in advance, both in and out of Golf Member specified tee times. These membership classifications are subject to restrictions in Section G 2, as defined above and are restricted to two tee times daily in all periods.

    5. Subject to Article II, Resort and Tennis members may make tee times excluding the Golf Member specified tee times up to four days in advance beginning at 12 p.m.

    6. The number of tee times in addition to the Golf Member specified tee times for the recognized Men's and Women's Golf Association weekly events are as follows:

      November 1st – April 30th

        Additional
      Tee Times
      TueIWGA (PM)6 tee times
      WedIMGA (PM)10 tee times
      ThuIWGA (AM)4 tee times
      FriIMGA (PM)6 tee times
      SunSOB (PM)12 tee times

      May 1st – October 31st

        Additional
      Tee Times
      TueIWGA (PM)0 tee times
      WedIMGA (PM)2 tee times
      ThuIWGA (AM)0 tee times
      FriIMGA (AM/PM)2 tee times
      SunSOB (PM)0 tee times
    7. All unused Golf Member specified tee times are to be released for Resort and other membership classification use, two days in advance, as well as the above IMGA and IWGA times.

    8. Members making tee time reservations are responsible for and may be subject to the appropriate fees for no show tee times and duplicate booking of tee times that are not cancelled at least before the end of business the prior day. For purposes of this paragraph, a no show tee time is defined as the failure of any participant within the tee time to show for that tee time.

  8. Club dress code for golf courses and practice areas are as follows:

    All Members and their Guests must be dressed in the appropriate golf attire.

    1. Gentlemen's shirts are to have a collar, turtleneck, or mock turtle (no less than one inch in height), with no less than quarter length sleeves. Proper decorum dictates that shirts must be tucked in at all times. Golf slacks or Bermuda length shorts are permitted. The bill of hats, caps and visors must be worn in the direction you are walking.

    2. Women may wear appropriate tops, dresses, skirts, skorts, slacks, Capri-style pants, Bermuda walking shorts or culottes. Appropriate tops do not include halter tops, bathing suits or tank tops.

    3. The following clothing items are considered inappropriate attire and will not be permitted on the golf courses, practice putting greens or the practice ranges: anything made from denim, jeans, cut-off shorts, short shorts, bathing suits, tank tops, t-shirts, jogging attire, flip-flops, crocs and leather sandals.

    4. Golf shoes or approved shoes are required on all courses and practice areas. Non-metal spikes are a requirement in all clubhouses, golf courses and practice areas.

  9. Minor children of members having golf course access between the ages of ten and fifteen will be permitted to tee off unaccompanied by an adult only after 3 p.m. or at the discretion of the Head Golf Professional or player assistant. All minor play in the Golf Member specified tee times must be accompanied by an adult Golf Member.

  10. The use of the golf courses for tournament play that alters members' tee time availability in the Golf Member specified tee times will be restricted to events approved by the Director of Golf and reported to the Board of Governors.

ARTICLE V: OTHER RECREATION REGULATIONS

  1. General:

    • Jogging and bicycling are not permitted on the golf courses or golf cart paths.

    • Jogging is permitted along the main thoroughfare of the property. Joggers are required to wear appropriate attire. Shirts are required to be worn.

  2. Swimming Pools and Jacuzzis:

    • The Resort Operations Department will have the authority at all times to maintain order in the pools and pool areas and to make decisions regarding safe periods. All posted pool and Jacuzzi rules must be followed.

    • No lifeguards are on duty at the pools. Swimming will be at your own risk.

    • The pools and pool areas will be cleared of all persons during inclement weather, such as lightning and thunderstorms.

    • No drinking glasses, glass containers or glass bottles of any sort are allowed in the pool areas.

    • Balls, rubber rafts, snorkels, pool floats and other play equipment are permitted in the pools only at the discretion of the Resort Operations Department.

    • A responsible adult must accompany children under 14.

    • All persons must wear normal bathing attire while swimming or sunning. Cut-off jeans and similar attire are not considered as bathing suits. Hairpins, barrettes, or metal hair ornaments may not be worn in the pool.

    • Children under two years of age and those wearing diapers are not allowed in the pools without appropriate protective wear.

    • No one who has an open sore or skin disease may enter the pools.

    • Bicycles, skateboards, roller skates or other wheel devices (except wheelchairs) are prohibited.

    • From time to time, supplementary rules will be posted in the pool and Jacuzzi areas.

    • Each family membership is limited to four accompanied guests.

  3. Tennis Courts:

    • Court reservations are required for all play. Eligible members may make reservations seven (7) days in advance.

    • As a matter of courtesy and practicality, reserved play (in one's name or as a partner to another who has reserved a court) is limited to two hours per person per day unless there are open courts. In any event, anyone who has played for two hours must yield to others who have not played for two hours.

    • Any member not canceling his reserved court time(s) the day prior to play, may be responsible for applicable fee(s) at the existing resort guest rate.

    • Players will wear clothing appropriate for the tennis courts. Men must wear shirts with sleeves. Bathing suits will not be permitted on the courts. Only smooth-soled tennis shoes will be worn on the courts.

    • Food and beverage consumption will be confined to the designated areas.

    • Members may bring no more than three guests at a time and may bring the same guest up to 8 times a year.

    • All members and guests are required to register at the tennis reception desk prior to commencement of play.

    • Presentation of the membership card is required for use of the tennis facility and charge purposes.

    • Players will use the court number assigned by the tennis reception desk.

    • The Tennis Professional and staff are responsible for enforcing these rules and regulations.

ARTICLE VI: SECURITY, PARKING AND SAFETY REGULATIONS

  1. Members in all categories will be permitted to receive as many decals for their cars as they can personally provide registrations or title vehicle numbers in their names along with proof of automobile insurance. All members must display a current decal for admission to the property. In addition, a member may be required to show a current membership card to gain access to the property and the club facilities. Resident condominium owners will be called when their guests or family arrive, securing approval before admittance.

  2. Members not displaying a current vehicle decal are required to present their membership card and obtain a visitor's pass at the security gate.

  3. Members intending to walk, jog, or bicycle onto property must show their membership cards to security staff at the resort entrance.

  4. The riding of bicycles and other vehicles on the golf courses or in tennis court or pool areas is prohibited. Golf carts are permitted on golf courses only.

  5. Any person not holding a valid driver's license is prohibited from driving motorized vehicles on the Club premises.

  6. For safety purposes, no fishing is permitted in lake areas adjoining open golf courses during hours of play.

  7. Discharging of firearms, BB or pellet guns on Club premises are strictly prohibited.

  8. There will be no private golf carts (electric or gas) permitted on Innisbrook grounds. Those private carts that existed as of April 1, 1982, will be permitted to continue as dictated by the existing Code of Regulations until not usable. They may not be replaced.

  9. Vehicle speed limit on the Club premises is 20 miles per hour and will be strictly enforced by the security officers.

  10. Parking of trucks, boat trailers and recreational vehicles upon Club premises is limited to designated areas on a space-available basis.

  11. Parking in public building driveways is prohibited.

  12. Parking is permitted only in and on hard-surfaced authorized parking areas.

  13. All vehicular traffic signage will be complied with and such compliance will be strictly enforced.

  14. Members in violation of any protective covenant described within this Code of Regulations will be subject to citations and assessments, in addition to any and all other remedies available pursuant to this Code of Regulations, as follows:

    1. The first violation will result in a warning.

    2. The second violation within one year will result in an assessment of $50.

    3. The third violation within one year will result in an assessment of $100.

    4. The fourth violation within one year may result in a hearing before the Board of Governors, with possible suspension of parking privileges on Club premises or a more severe penalty as the Board of Governors deems justifiable.

ARTICLE VII: MEMBER ACCOUNTS, TERMINATIONS AND SUSPENSIONS

  1. A late payment charge will be assessed on account balances that are delinquent. The late payment charges use a monthly periodic rate of 1.5% on the previous balance, less payments and credits. To avoid late payment charges, please pay by the last day of the current billing month. The annual percentage rate (APR) is 18%. The due date is the last day of the billing month.

    1. A statement of account will be given to each member by mail when his account is unpaid for one month from the billing date.

      1. When a member's account is delinquent for 15 days from the due date, as defined above, a letter will be mailed by the Accounting Department advising the member that automatic suspension of charge privileges will result unless the account is fully paid by the end of the month.

    2. When a member's account is delinquent one month from the due date, as defined above, a letter will be mailed certified return receipt requested from the Board of Governors, demanding payment of the balance in full and advising the member that if the account is not paid in full within 10 days from the date of the letter, automatic suspension of use of Club privileges and facilities will occur as of the first of the following month. Membership privileges will be restored only upon bringing the member's account to a current status.

    3. Chronic delinquency of a member's account will subject the member to any disciplinary action, which the Board deems appropriate. "Chronic" will mean any unpaid account balance reaching 60 days of age, three times in a 12-month period.

  2. Subject to the requirements of Article VII, Section C as to a formal hearing, the Board of Governors will have full power and authority to reprimand, place on probation, suspend, fine or terminate any member of the Club. The Board of Governors may take any other appropriate action for any conduct, which in the sole discretion and judgment of the Board of Governors is detrimental to the operation or management of the Club or the membership as a whole, The Board of Governors may take any other appropriate action for any conduct, which in the sole discretion and judgment of the Board of Governors is detrimental to the operation or management of the Club or the membership as a whole, such as short term rentals by members, including but, not limited to VRBO, Home Away, and AirB&B.

    • A majority vote of the members attending, either in person or by conference call, is required to reprimand a member for misconduct.

    • A vote to place on probation, suspend, fine or terminate will require a vote of all Board members, either in person or by conference call. An affirmative vote of at least five to two is required for such action.

  3. No member will be fined, terminated or placed on probation for misconduct without first being given the privilege of a hearing before the Board of Governors. The Board of Governors will give the member at least ten days advance notice of the time and place of the hearing. The Chairman of the Board of Governors may suspend a member, for up to 30 days, pending a hearing.

  4. The Board of Governors will not consider any complaint against a member of the Club for violation of any of the rules and regulations of the Club unless such complaint will be in writing and signed by the complainant.

  5. The implementation of suspension, probation or fine as noted above does not abate the member's responsibility to make full payment of dues during the suspension, probation or period of a fine.

ARTICLE VIII: GENERAL

  1. The Board of Governors may, from time to time, appoint from the qualified members of the Club such committees, as it may deem advisable, to assist in the Club activities.

  2. The Board of Governors will approve or reject all applications for membership and the same will be indicated in the minutes of the Board of Governors. All applications and related information submitted to the Club are confidential.

  3. All members will be furnished a copy of this Code of Regulations upon being accepted for membership and thereafter will be notified of subsequent amendments as provided for in paragraph E of this Article.

  4. The provisions of this Club's Code of Regulations for use of the Club facilities will apply to members, guests of members, each person privileged to use the Club facilities by virtue of the rental of a condominium unit, as a guest under the Rental Pool Operation of the Resort during the period of rental occupancy, and all other persons who may be accorded use from time to time by this Code.

  5. This Code of Regulations may be amended by the Board of Governors at any time and from time to time by following the provisions of this paragraph. Amendments shall include additions, deletions, and modifications. Each amendment shall require the affirmative vote of four members of the Board, taken at a monthly meeting of the Board be provided in the amendment. A copy of each amendment shall be sent to each member within a reasonable time thereafter. In addition to the foregoing, the board shall have the authority to make exceptions to the Code, without amending the Code, for special situations in which the Board determines such action is in the best interest of the Club and the member involved.

  6. Under the authority of the Board of Governors, this Code of Regulations as amended, is effective October 16, 2014 and supersedes all Codes of Regulations previously adopted.