Mountaintop Golf & Lake Club
34 High Mountain Drive #4, Cashiers, NC 28717
Q: What categories of equity membership will be issued by the club?
A: The Club will offer 350 equity Golf Memberships. In addition, equity Social Memberships will be offered to initial buyers who purchase from Cashiers Resort Community, LLC, and who do not wish to purchase a Golf Membership.
Q: Who is eligible to acquire a membership in the Club?
A: Golf and Social Memberships will be offered to purchasers of a residence or home site in the Mountaintop community and to such other persons as the Club determines from time to time, who are invited and approved for membership in the Club. Social Memberships will only be offered to initial property purchasers in the Mountaintop community.
Q: What are the privileges of a Golf Membership?
A: Golf Members will be entitled to use all of the Club Facilities. Golf Members will pay cart fees but will not be required to pay green fees.
Q: What are the privileges of a social membership?
A: Social Members will be entitled to use all of the Club Facilities except the golf course and golf practice facilities except as a guest of a Golf Member.
Q: Will members of my Immediate Family be entitled to use my membership privileges?
A: Yes. The member, his or her spouse and their unmarried children, under the age of 26 will have membership privileges.
Q: Who qualifies as the member's extended family?
A: Extended Family shall include the parents, adult children who do not fall under the definition of immediate family, grandparents and grandchildren of the member and spouse, and the spouses of such family members.
Q: What guest privileges will my Extended Family have?
A: Extended Family may play unaccompanied and / or bring guests subject to the Primary Playing Times Policy. No Guest fees will be charged for Extended Family. They can use all other Club Facilities and bring guests at any time. Normal guest fees and restrictions apply for these guests.
Q: Will my guests be able to use the Club Facilities?
A: Yes. You may invite guests to use the Club Facilities in accordance with the Rules and Regulations and Bylaws of the Club relating to guests and upon the payment of applicable guest fees and charges established by the Club from time to time. All guests must be accompanied by a member. No guest may use the golf facilities more than four (4) times in a calendar year, regardless of the sponsoring member unless otherwise determined by the Club from time to time.
Q: Will I be required to pay an additional membership contribution fee at Turnover?
A: No. The membership contribution paid for membership represents the full purchase price of the membership.
Q: As the owner of a residence or home site in Mountaintop, may I arrange for the subsequent purchaser of my property to obtain my membership?
A: Yes. You may arrange for the Club to reissue your membership to the subsequent purchaser of your property, provided the purchaser is approved for membership and pays the required current membership contribution.
Q: How much of my membership contribution will I get back when the Club reissues my membership to a new member?
A: You will receive 80% of the membership contribution paid by the new member.
Q: What are the anticipated club dues?
A: Dues will be fixed by the Club from time to time and will be payable annually in advance or as otherwise determined by the Club. The dues are set forth on the Schedule of Dues, Fees and Charges.
Q: Who controls the Club?
A: The Club is controlled by a Board of Directors. Until the Turnover Date referred to below, all of the members of the Board of Directors will be appointed by the Company. Thereafter, the Equity Members will elect the members of the Board.
Q: When will turnover of control of the Club to the members take place?
A: The "Turnover Date" will be 60 days after the earlier of (i) the initial sale of all of the Golf Memberships, or (ii) any earlier date determined by the Partnership in its discretion, provided the Club is operating without an operating deficit for the preceding 12-month period., or (iii) at any time after the fifteenth anniversary of the sale of the first Golf Membership, upon the affirmative vote of Equity Members entitled to cast at least fifty-one percent (51%) of the total votes of Equity Members, provided that at least fifty-one percent (51%)of the Golf Memberships have been issued and are outstanding at the time of such vote.
*The above information is intended only as a general description of the Membership opportunities available at the Mountaintop Golf & Lake Club. This document is provided for informational purposes only and may not be relied upon as a basis for a decision to acquire a residence or home site in the Mountaintop community or Membership in the Club. A complete description of the terms and conditions of Membership privileges is contained in the Mountaintop Golf & Lake Club Membership Plan and its exhibits as amended from time to time. The Membership Plan should be carefully reviewed prior to seeking Membership in the Club.