club information guide - wendy wilmot properties...wwp-cig bhi club resignation i, _____, have sold...

CLUB INFORMATION GUIDE WENDY WILMOT PROPERTIES

WWP-CIG

BHI CLUB MEMBERSHIP TRANSFER PROCESS

The purchaser must make application for membership by the date specified in their contract (full

membership application required if 1st time buyers, only purchase agreement required if they are an

existing member of BHIC).

Approval from the Bald Head Island Club Board of Governors is required, meetings are scheduled for

the second Monday of each month.

The purchase price to be paid to the Club by the purchaser shall be the amount of the purchase price

in effect for new members on the closing date.

The resigning member must submit his resignation in writing stating: (a) that he is selling his or her

residential unit or lot on BHI or at Indigo Plantation, and (b) that the resignation shall become

effective following the closing of title and the acceptance of the purchaser as a member.

All of the above must be completed and submitted to the Club prior to processing the membership

transfer and refunding the seller.

Refunds can usually be expected 2-3 after the Board of Governors meeting, given that the protocol

above has been accomplished.

Repayment of Purchase Price for Membership

The amount of the purchase price paid to a resigning member upon a successor member’s acquisition

of a membership, and payment of the purchase price in full, or the Club’s repurchase of a

membership, shall depend upon the category of membership acquired by the subsequent purchaser

of the membership.

If the subsequent purchaser of the membership acquires the same or higher category of membership,

the amount of the purchase price to be repaid to the resigning Equity Member of the Club shall be

the greater of: (a) the purchase price actually paid by the resigning Equity Member, or (b) seventy-

five percent (75%) of the amount of the purchase price then charged by the Club for the resigning

member’s category of membership.

If the subsequent purchaser of the membership acquires a lower category of membership, the

amount of the purchase price to be repaid to the resigning Equity Member shall be the lesser of: (a)

the purchase price paid by the applicant for the lower category of membership, or (b) the purchase

price actually paid by the resigning member.

In any event the amount returned to the resigning member shall be reduced by any portion of the

purchase price not previously paid by the resigning member and in the case of a person who applied

for membership on or before November 20, 1987, three thousand dollars ($3,000). The Club shall

deduct from the amount to be paid to the resigning member any amounts owed to the Club by that

resigning member.

Membership dues

Resigning members will be responsible for dues through the end of the month following closing. The

new member will be billed dues beginning the first day of the next month. Membership dues are

billed quarterly in advance and are due upon receipt.

CLUB INFORMATION GUIDE WENDY WILMOT PROPERTIES

WWP-CIG

BHI CLUB RESIGNATION

I, _______________________________________, have sold or will be selling my Bald Head

Island or Indigo Plantation property, Lot # ____________. The closing has occurred or will

occur on ___/___/___. I wish to transfer my Bald Head Island Club Membership, #__________

to _________________________________________, who are the new owners of the above-

mentioned property. The transfer will become effective subsequent to all appropriate applications

being made to the Club by the buyers of the property, Board of Governors approval and the

occurrence of closing.

______________________________

Member Signature

______________________________

Spouse’s Signature

AAAPPLICATIONPPLICATIONPPLICATION FORFORFOR MEMBERSHIPMEMBERSHIPMEMBERSHIP

Personal

Full Name Familiar Name

Date of Birth Social Security Number

Email Address Mobile Phone

Spouse’s Full Name Familiar Name

Date of Birth Social Security Number

Email Address Mobile Phone

Principal Place of Residence Number Street ( ) City State Zip Telephone Unmarried Children under 23 years of age: 1. 3. Name DOB Name DOB 2. 4. Name DOB Name DOB

Business ( ) Applicant’s Employer Business Telephone

Occupation and/or Nature of Business Title

Business Address

Email Address

( ) Spouse’s Employer Business Telephone

Occupation and/or Nature of Business Title

Business Address

Email Address

BBBALDALDALD HHHEADEADEAD IIISLANDSLANDSLAND CCCLUBLUBLUB P.O. BOX 3070, BALD HEAD ISLAND, NORTH CAROLINA 28461 910.457.7300 TELEPHONE 910.457.7395 FAX

OVEROVEROVER

Personal References *

1. 2.

Name Name

Address Address

Telephone Telephone

Years Known Years Known

*Personal references must be personal or business acquaintances whom the applicant has know for more than two (2) years. Personal references may not be family members or representatives or agents of real estate agencies selling property on Bald Head Island, Middle Island Plantation or Indigo Plantation.

Additional Information 1. Please indicate (a) the property at Bald Head Island or Indigo Plantation or (b) the Bald Head Island Yacht Club or Indigo Plantation Yacht Club membership

number to which this membership is to be attached:

2. Do you own additional property on Bald Head Island and/or Indigo Plantation? □ □ yes □ □ no If yes, please indicate properties you own:

3. Are you, or have you been in the last ten (10) years, a member of any other Club(s)? □ □ yes □ □ no If yes, please indicate the name, address and phone number of each club, as well as a contact at that club:

I understand that membership at the Bald Head Island Club will be a membership in a private club and that acceptance for membership is subject to my being approved for membership and payment of the required purchase price and dues. I hereby authorize the disclosure and release of information for investigating my qualifications for membership, and authorize those persons and entities names herein to furnish the information. Applicant’s Signature Date Spouse’s Signature Date

BALD HEAD ISLAND CLUB

SOCIAL MEMBERSHIPSOCIAL MEMBERSHIPSOCIAL MEMBERSHIP

PURCHASE AGREEMENT

The undersigned applies for a Social Membership in Bald Head Island Club and agrees to pay to Bald Head Island Club the $12,000.00 purchase price as follows: $12,000.00 submitted with this Membership Purchase Agreement and Application for Membership. Check is to be made payable to Bald Head Island Club. This Membership Purchase Agreement is irrevocable after delivery unless the undersigned is not approved for membership. The undersigned agrees to be fully bound by all of the terms and provisions relating to membership in Bald Head Island Club as set out in the Club By-Laws and other related instruments, as the same may be amended from time to time, and continued membership is contingent upon compliance with all Club rules, regulations and procedures including without limitation, the payment of dues and assessments as required from time to time. The undersigned acknowledges that the Bald Head Island Club is an equity Club, and that there are limitations on the ability of the undersigned to sell or transfer the membership interest sought by Applicant. Upon approval for membership, the undersigned Applicant irrevocably agrees to fully substitute the membership privileges acquired pursuant to this Membership Purchase Agreement for any and all present or prior rights in or to use of the Bald Head Island Club facilities.

If the Applicants are married, the signatures of both spouses are required.

Date Please Print Full Name Applicant’s Signature

Please Print Spouse’s Full Name Spouse’s Signature

Current Mailing Address Number Street

City State Zip Code

Applicant’s Email Address Spouse’s Email Address

Lot number and address of Bald Head Island or Indigo Plantation property purchased:

BALD HEAD ISLAND CLUB BALD HEAD ISLAND CLUB BALD HEAD ISLAND CLUB P.O. BOX 3070

BALD HEAD ISLAND, NC 28461

910.457.7300 TELEPHONE 910.457.7395 FAX


SPORTS MEMBERSHIPSPORTS MEMBERSHIPSPORTS MEMBERSHIP

PURCHASE AGREEMENT

The undersigned applies for a Sports Membership in Bald Head Island Club and agrees to pay to Bald Head Island Club the $22,000.00 purchase price as follows: $22,000.00 submitted with this Membership Purchase Agreement and Application for Membership. Check is to be made payable to Bald Head Island Club. This Membership Purchase Agreement is irrevocable after delivery unless the undersigned is not approved for membership. The undersigned agrees to be fully bound by all of the terms and provisions relating to membership in Bald Head Island Club as set out in the Club By-Laws and other related instruments, as the same may be amended from time to time, and continued membership is contingent upon compliance with all Club rules, regulations and procedures including without limitation, the payment of dues and assessments as required from time to time. The undersigned acknowledges that the Bald Head Island Club is an equity Club, and that there are limitations on the ability of the undersigned to sell or transfer the membership interest sought by Applicant. Upon approval for membership, the undersigned Applicant irrevocably agrees to fully substitute the membership privileges acquired pursuant to this Membership Purchase Agreement for any and all present or prior rights in or to use of the Bald Head Island Club facilities.





City State Zip Code





910.457.7300 TELEPHONE 910.457.7395 FAX


GOLF MEMBERSHIPGOLF MEMBERSHIPGOLF MEMBERSHIP

PURCHASE AGREEMENT

The undersigned applies for a Golf Membership in Bald Head Island Club and agrees to pay to Bald Head Island Club the $34,000.00 purchase price as follows: $34,000.00 submitted with this Membership Purchase Agreement and Application for Membership. Check is to be made payable to Bald Head Island Club. This Membership Purchase Agreement is irrevocable after delivery unless the undersigned is not approved for membership. The undersigned agrees to be fully bound by all of the terms and provisions relating to membership in Bald Head Island Club as set out in the Club By-Laws and other related instruments, as the same may be amended from time to time, and continued membership is contingent upon compliance with all Club rules, regulations and procedures including without limitation, the payment of dues and assessments as required from time to time. The undersigned acknowledges that the Bald Head Island Club is an equity Club, and that there are limitations on the ability of the undersigned to sell or transfer the membership interest sought by Applicant. Upon approval for membership, the undersigned Applicant irrevocably agrees to fully substitute the membership privileges acquired pursuant to this Membership Purchase Agreement for any and all present or prior rights in or to use of the Bald Head Island Club facilities.





City State Zip Code





910.457.7300 TELEPHONE 910.457.7395 FAX

1

Birth Date:

Name Called:

Birth Date:

Anniversary Date:

5

$5,000.00 plus interest at7% per annum, compounded annually,

from July 27, 2004 to conversion

The additional amount due at conversion stated above will be subject to increase at the rate of seven(7%) percent per annum, compounded annually, from July 27, 2004 (that being the date of issuance of theoriginal certificate of occupancy for the Shoals Club clubhouse) until the date of conversion to an equity club,and the additional amount due as set forth above shall be increased accordingly.

club information guide - wendy wilmot properties...wwp-cig bhi club resignation i, _____, have sold...

Documents