Dunes Golf & Country Club

DUNES GOLF & COUNTRY CLUB

MEMBERSHIP DOCUMENT

I. GENERAL CONDITIONS.

Welcome to the Dunes Golf & Country Club! We trust that you and your guests will enjoy our facilities and services. Please read carefully through the Membership Document to understand our rules and conditions.

The Dunes Golf & Country Club is the first and only golf club in St. Petersburg. It is located on the picturesque coast of the Gulf of Finland, 38 km to the North from downtown St. Petersburg.

The Dunes is a private club with a limited membership. Club Members and their invited guests have the right to use its facilities.

Owner of the Club.

The Owner of the Club is the Closed Joint Stock Company “Dunes Golf Club”

Management of the Club.

The Club is managed by the Administration, appointed by the Owner. Club Members elect the Membership Committee and the Golf Committee, which in turn give recommendations to the Owner and the Administration on developing and improving of the Club’s facilities and services.

Mission of the Management.

The Owner and Administration of the Club are obliged to continuously improve the quality of services, develop the Club’s possibilities, and act in the interests of all Members of the Club regardless of nationality, language, or type of membership.

Income and responsibility of the Club.

The Legal entities and private persons which are listed on the Membership Certificates are not investors in the Club and do not carry responsibility for Club’s debts or losses of any kind.

Membership Certificate holders are not entitled to receive profit from the Club’s property or income and do not receive comissions for their participation in Club’s membership.

Types of Membership and membership fees.

Type of membership / Number of
Playing rights / Participation fee
RBL, VAT not incl. / Annual fee
RBL, VAT not incl.
Corporate / 5 / 1000 000 / 120 000
Individual / 1 / 250 000 / 30 000
Family / 2 / 450 000 / 54 000

Annual fees for the first year are included in the Participation fee. After the first season of membership, the Annual fee is to be paid before March, 31 of every year. The Participation fee is a one-time charge for membership into the Golf & Country Club.

The indicated amounts for membership fees are valid for the first 150 playing rights only. Thereafter, the Owner and Administration reserve the right to reconsider the membership fee schedule.

Membership Certificate.

The Membership Certificate is a document that confirms the ownership of a specific type of membership and guarantees certain privileges as determined by the type of membership.

The authorized representatives of the Owner and Administration sign the Certificate.

The Certificate is issued after 100% payment of the Participation fee.

The Certificate is the property of its holder. It can be transferred or sold according to the rules set forth in this document.

Membership owner and users.

The Owner of the Certificate has the right to name the authorized user(s) of the Club Membership once a year. The number of users will correspond to the type of membership. Each of the named users will receive a membership card entitling them to all of the privileges afforded Club Members.

Membership cards.

Membership cards are valid for one calendar year. Membership cards are issued to a specific name and are to be shown upon request.

Membership cards permit the user full access to the golf course, show the current handicap, and conform to international formats.

Annual fee schedule, penalties and non-valid status of Club Members.

The Annual fee must be paid before March, 31 of each year. Club Members who have not paid the Annual fee on time will be relegated to non-valid status and will forego playing rights and privileges. A fine of 10% per month will be charged to delinquent accounts.

To revalidate a delinquent membership, the Certificate holder should submit a letter to the Membership Committee requesting reinstatement. Membership will be recovered after the all accounts have been made current including applicable fines.

Please be timely in the payment of Annual fees.

Dormant status of Membership.

In the event that a Membership Certificate owner is unable to utilize club privileges for an extended period of time, he/she may request from the club Administration that his membership be reverted to a dormant status. Upon approval, the annual fee will be waived. To reinstate a Dormant Membership to Active status, the Certificate owner should contact the club Administration. Membership will be reactivated once all applicable fees are paid.

Internal regulations of the Club.

Members of the Club are responsible to follow Club Regulations, Golf Etiquette and the Rules of Golf.

Each Member of the Club is responsible for his/her guests’ behavior on Club territory and their full and timely payment for Club services. Any damage made to Club property by the Club member or his/her guests must be reimbursed to the Club at the Member’s expense.

Car parking is allowed only in designated parking areas.

The Club is not responsible for items belonging to Club members, their guests or other visitors of the Club.

Correspondence.

All correspondence between the Club and its Member will be sent to the name of Certificate holder or to the first name in the list of the users appointed by the Certificate holder

II.CONDITIONS OF BECOMING A CLUB MEMBER

Procedures for becoming a Club Member.

To become a Club Member, sign and send to the Golf Club the completed application form attached to the Club brochure.

In submitting an application form to the Club, each applicant:

- Agrees to submit the required Participation fee after his/her candidature is approved by the Membership Committee in accordance with the type of membership indicated in the application form;

- Understands that his/her application will be confirmed after approval by the Membership Committee, Administration and Owner of the Club, and if no legal objections are put forth by active Club Members;

- Understands that services and privileges enjoyed by Club Members are valid only if Annual fees are paid in full and on time;

- Guarantees that the person signing the application form has the authority necessary to do so;

- Agrees that after reading this Membership Document he/she is completely acquainted with the information mentioned and stated in it;

- Understands and confirms that neither the Club nor any of its managers, personnel or agents have presented to him/her other information different from that stated here, and that the Club carries no responsibility for information contrary to that stated in this document.

The Membership Committee reserves the right to decline candidature for membership at it’s own discretion. The completed application forms will be exhibited on the Club information board during one week. During this period, active Club Members may bring up objections to the Membership Committee regarding potential candidatures.

Once approved by the Membership Committee, each candidate’s application form is submitted for consideration to the Administration of the Club.

After 100% payment of the Participation fee, each new Club Member will receive a Membership Certificate, and designated user will receive a membership card.

Names of new Club Members will be entered in to the Club Members Register.

Conditions for Corporate Membership.

Only legal entities can become corporate members. Corporate Membership gives its owner the right to appoint five users, each of whom will receive a membership card after being approved by the Membership Committee.

Corporate Membership allows the five designated users the right and privilege to:

- Free and unlimited play on the Club golf course;

- Free entrance and car parking on the territory of the Club;

- Bring two guests to the Club for use of the golf course and facilities as per the designated guest fees.

- Free and unlimited play on the miniature golf course.

Should the owner of the Corporate Membership wish to transfer the Certificate to another legal entity, written notification should be sent to the Administration of the Club. Approval of the new owner will be in accordance with the procedures stated in this document. All approved Corporate Membership transfers will be charged a commission of 15 000 Rubles by the Club.

The Club guarantees that, in the event the ownership of the Club is transferred to a different entity, all Corporate Members will preserve their status, rights and privileges in the Club according to current legislation.

All conditions listed above are independent and separate from each other, and if at any point one or more of the conditions listed above become invalid or impracticable, the rightfulness and feasibility of other conditions remain in full force.

Conditions for Individual Membership.

Both legal entities and private persons can own Individual Memberships. Individual Membership gives its owner the right to appoint one user, which, after being approved by the Membership Committee, receives a membership card.

Individual Membership allows the designated user the right and privilege to:

- Free and unlimited play on the Club golf course;

- Free entrance and car parking on the territory of the Club;

- Bring two guests to the Club for use of the golf course and facilities as per the designated guest fees.

- Free and unlimited play on the miniature golf course.

Should the owner of an Individual Membership wish to transfer his/her Certificate, written notification should be sent to the Administration of the Club. Approval of the new owner will be in accordance with the procedures stated in this document. All approved Individual Membership transfers will be charged a commission of 3000 Rubles by the Club.

The Club guarantees that, in the event the ownership of the Club is transferred to a different entity, all Individual Members will preserve their status, rights and privileges in the Club according to current legislation.

Conditions for Family Membership.

Both legal entities and private persons can be the owners of a Family Membership. Family Membership gives its owner the right to appoint two users who are closely related (Husband- Wife, Father-Son, etc.) each of whom will receive a membership card after being approved by the Membership Committee.

Family membership allows each designated user the right and privilege to:

- Free and unlimited play on the Club golf course;

- Free entrance and car parking on the territory of the Club;

- Bring two guests to the Club for use of the golf course and facilities as per the designated guest fees.

- Free and unlimited play on the miniature golf course.

Should the owner of a Family Membership wish to transfer his/her Certificate, written notification should be sent to the Administration of the Club. Approval of the new owner will be in accordance with the procedures stated in this document. All approved Family Membership transfers will be charged a commission of 6000 Rubles by the Club.

The Club guarantees that, in the event the ownership of the Club is transferred to a different entity, all Family Members will preserve their status, rights and privileges in the Club according to current legislation.

III. REGULATIONS FOR USE OF THE CLUB’S GOLF COURSE.

The purpose of these regulations is to act in the interest of club members and provide the best conditions for playing golf and to maintain the course in proper condition.

Play on the course is held according to the Rules of Golf established by the Royal & Ancient Golf Club of St. Andrews and local rules. All players on the course must adhere to proper golf etiquette.

Each Club Member is obliged to follow the Rules of Golf and these Regulations. The Administration and Golf Committee should be informed as to all violations, which, in case of serious or habitual occurrence, may lead to restriction of privileges at the Club.

Approval for play.

All Club members and their guests must receive approval for play in order to begin a round of golf.

Admission for the use of the golf course will be granted to any Club member or guest who’s qualification and playing experience can be confirmed by membership in another golf club, by presenting an official handicap card, or by the decision of the Golf Director.

All first time players desiring admission to the Club’s golf course must receive instruction to the game, rules and etiquette. Admission to the golf course is solely at the discretion of the Golf Director.

Playing golf.

Reservations for tee-time and player sign-in.

For the 2007 playing season, there will be no reserved start times for play on the golf course. All players must register with the starter before the game. During peak usage times, players will accept the recommendations and decisions of the starter.

Playing schedule for the Golf Course.

The golf course is closed to visitors on Mondays. If there is a national holiday on Monday, the course will be closed to visitors on Tuesday. The course hours will be determined by the golf director and greens-keeper and announced in advance. Course hours may vary depending on the season and weather conditions. The Greens-keeper determines the beginning and ending of the season.

Special events.

The Administration of the Club reserves the right to close the Club and temporarily restrict services for Club Members due to a limited number of tournaments which may not intended for the participation of all Club Members. Temporary restrictions may include use of the golf course and range and will be announced in advance. If possible, such tournaments will be held in non-peak times.

Dress code.

All golfers are to follow appropriate dress codes including shirts with collar and sleeves, slacks or shorts of appropriate length and sport socks with shoes. Women may wear slacks, skirt-shorts and shorts of appropriate length. T-shirts and sport costumes (warm-up suits) of any kind are not acceptable attire for the field of play. Only golf shoes or approved smooth-soled shoes are permitted on the golf course and greens.