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Exhibit 10.1.4  


 
 

Exhibit A
  
    SCHEDULE OF PARTNERS,
  ALLOCATION OF PARTNERSHIP UNITS, PERCENTAGE INTERESTS
  AND THE AGREED UPON VALUE OF NON-CASH CAPITAL CONTRIBUTIONS    
  



	Date

Admitted
	 	Name and address of partners
	 	Value of non-cash

capital contribution
	 	Partnership

units issued
	 	Approx. Percentage

Interests
	 	Federal ID #

	2/12/1997	 	Golf Legends Ltd., Inc.

P.O. Box 2038

1500 Legends Drive

Myrtle Beach, SC 29578	 	$	30,647,030	 	1,532,352	 	 	 	57-0886834
	

4/2/2001	
 	

Legends (conversion)	
 	
 	

 	
 	

(294,613	
)	

 	
 	

 
	

7/31/2001	
 	

Redemption at disposition	
 	
$	

(14,852,868	
)	

(1,237,739	
)	

 	
 	

 
	7/31/2001	 	Residual Value	 	$	(15,794,162	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Legends Total	 	$	—	 	—	 	0.00	%	 
	

2/12/1997	
 	

Seaside Resorts Ltd., Inc.

1500 Legends Drive

Myrtle Beach, SC 29578	
 	
$	

16,129,118	
 	

806,456	
 	

 	
 	

57-0729308
	

7/31/2001	
 	

Redemption at disposition	
 	
 	

(9,677,472	
)	

(806,456	
)	

 	
 	

 
	7/31/2001	 	Residual Value	 	 	(6,451,646	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Seaside Resorts Ltd., Inc. Total	 	$	—	 	—	 	0.00	%	 
	

2/12/1997	
 	

Heritage Golf Club, Ltd., Inc.

1500 Legends Drive

Myrtle Beach, SC 29578	
 	
$	

16,031,230	
 	

801,561	
 	

 	
 	

57-0818596
	



1/6/1999	

 	



Heritage (conversion)	

 	

 	



 	

 	



(11,700	

)	



 	

 	



 
	

7/31/2001	
 	

Redemption at disposition	
 	
 	

(9,478,332	
)	

(789,861	
)	

 	
 	

 
	7/31/2001	 	Residual Value	 	 	(6,552,898	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Heritage Golf Club, Ltd., Inc. Total	 	$	—	 	—	 	0.00	%	 
	

2/12/1997	
 	

Legends of Virginia L.C.

1500 Legends Drive

Myrtle Beach, SC 29578	
 	
$	

11,963,738	
 	

598,187	
 	

 	
 	

57-1003883
	

4/2/2001	
 	

Legends (conversion)	
 	
 	

 	
 	

(598,187	
)	

 	
 	

 
	

7/31/2001	
 	

Residual Value	
 	
 	

(11,963,738	
)	

 	
 	

0.00	
%	

 
	 	 	 	 	
	 	
	 	
	 	 
	 	 	Legends of Virgiania Total	 	$	—	 	—	 	 	 	 
	

2/12/1997	
 	

Northgate

16055 Northgate Forest Drive

Houston, TX 77068	
 	
$	

3,797,071	
 	

189,854	
 	

 	
 	

76-0527250
	

5/20/1998	
 	

Northgate (redemption)	
 	
 	

(158,969	
)	

(5,000	
)	

 	
 	

 
	

1/6/1999	
 	

Northgate (conversion)	
 	
 	

—	
 	

(30,000	
)	

 	
 	

 
	

3/2/2001	
 	

Northgate (conversion)	
 	
 	

 	
 	

(60,581	
)	

 	
 	

 
	

3/26/2002	
 	

Northgate (redemption)	
 	
 	

(534,999	
)	

(94,273	
)	

 	
 	

 
	

3/26/2002	
 	

Residual Value	
 	
 	

(3,103,103	
)	

 	
 	

 	
 	

 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Northgate Total	 	$	—	 	0	 	0.00	%	 







	

2/12/1997	
 	

Olde Atlanta Golf Club Limited Partnership

c/o The Crescent Company

1580 S. Milwaukee Ave., Suite 101

Libertyville, IL 60048	
 	
$	

1,444,926	
 	

72,246	
 	

 	
 	

36-3834881
	

4/13/1998	
 	

Olde Atlanta (redemption)	
 	
$	

(62,837.60	
)	

(2,000	
)	

 	
 	

 
	

5/20/1998	
 	

Olde Atlanta (redemption)	
 	
$	

(64,017.60	
)	

(2,000	
)	

 	
 	

 
	

8/21/1998	
 	

Olde Atlanta (redemption)	
 	
$	

(52,387.50	
)	

(1,500	
)	

 	
 	

 
	

12/10/1998	
 	

Olde Atlanta (redemption)	
 	
$	

(30,166.11	
)	

(1,150	
)	

 	
 	

 
	

1/20/1999	
 	

Olde Atlanta (redemption)	
 	
$	

(66,078.50	
)	

(2,500	
)	

 	
 	

 
	

4/6/1999	
 	

Olde Atlanta (conversion)	
 	
$	

—	
 	

(2,000	
)	

 	
 	

 
	

5/1/1999	
 	

Olde Atlanta (recapitalization)	
 	
$	

683,967	
 	

30,826	
 	

 	
 	

 
	

5/27/1999	
 	

Olde Atlanta (conversion)	
 	
 	

 	
 	

(2,000	
)	

 	
 	

 
	

7/15/1999	
 	

Olde Atlanta (conversion)	
 	
 	

 	
 	

(3,500	
)	

 	
 	

 
	

1/10/2000	
 	

Olde Atlanta (conversion)	
 	
 	

 	
 	

(3,300	
)	

 	
 	

 
	

1/26/2000	
 	

Olde Atlanta (conversion)	
 	
 	

 	
 	

(4,100	
)	

 	
 	

 
	

4/28/2000	
 	

Olde Atlanta (correction from 3/24/99)	
 	
 	

 	
 	

2,000	
 	

 	
 	

 
	

8/14/2000	
 	

Olde Atlanta (conversion)	
 	
 	

 	
 	

(10,600	
)	

 	
 	

 
	

7/9/2001	
 	

Redemption at disposition	
 	
 	

(757,036.50	
)	

(70,422	
)	

 	
 	

 
	7/9/2001	 	Residual Value	 	 	(1,096,369.48	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Olde Atlanta Total	 	$	—	 	—	 	0.00	%	 
	

2/12/1997	
 	

Bright's Creek Development Co. LLC

104 Cotton Creek Drive

Gulf Shores, AL 36542	
 	
$	

2,119,005	
 	

105,950	
 	

 	
 	

63-1120089
	

5/1/2001	
 	

Redemption at disposition	
 	
 	

(1,271,400	
)	

(105,950	
)	

 	
 	

 
	

5/1/2001	
 	

Residual Value	
 	
 	

(847,605	
)	

 	
 	

 	
 	

 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Woodlands Total	 	$	—	 	—	 	0.00	%	 
	

10/31/1996	
 	

David Dick Joseph

14 North Adger's Wharf

Charleston, SC 29401	
 	
 	

—	
 	

12,500	
 	

0.00	
%	

###-##-####
	

12/14/1999	
 	

David Dick Joseph (conversion)	
 	
 	

 	
 	

(12,500	
)	

 	
 	

 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	David Dick Joseph Total	 	 	—	 	—	 	 	 	 
	

2/4/1997	
 	

W. Bradley Blair, II

14 North Adger's Wharf

Charleston, SC 29401	
 	
$	

—	
 	

12,500	
 	

0.16	
%	

###-##-####
	

2/4/1997	
 	

James Hoppenrath

4221/2 Marguerite Ave.

Corona Del Mar CA 92625	
 	
$	

—	
 	

3,750	
 	

0.00	
%	

###-##-####
	

1/6/2000	
 	

James Hoppenrath (conversion)	
 	
 	

 	
 	

(3,750	
)	

 	
 	

 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	James Hoppenrath Total	 	$	—	 	—	 	 	 	 
	

6/20/1997	
 	

Golf Host Resorts, Inc.

c/o Starwood Capital Group, LP

Three Pickwick Plaza, Suite 250

Greenwich, CT 06830	
 	
$	

—	
 	

274,039	
 	

0.00	
%	

84-0631130
	
 	
 	

 	
 	
 	

 	
 	

 	
 	

 	
 	

 







	

3/3/2000	
 	

Golf Host (conversion)	
 	
 	

 	
 	

(274,039	
)	

 	
 	

 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Golf Host Total	 	 	 	 	—	 	 	 	 
	

9/2/1997	
 	

John J. Rainieri, Sr.

Betty Rainieri

4350 Mayfair Road

Uniontown, OH 44685	
 	
$	

3,198,168	
 	

114,237	
 	

 	
 	

###-##-####

###-##-####
	

1/4/2001	
 	

Redemption at disposition	
 	
$	

(910,632	
)	

(75,886	
)	

 	
 	

 
	

5/16/2001	
 	

Redemption at disposition	
 	
$	

(460,212	
)	

(38,351	
)	

 	
 	

 
	5/16/2001	 	Residual Value	 	$	(1,827,324	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Rainieri Total	 	$	—	 	0	 	0.00	%	 
	

9/2/1997	
 	

Raintree Country Club, Inc. 4350 Mayfair Road

Uniontown, OH 44685	
 	
$	

204,138	
 	

7,292	
 	

0.00	
%	

34-1736212
	

1/4/2001	
 	

Raintree (redemption at disposition)	
 	
$	

(87,504	
)	

(7,292	
)	

 	
 	

 
	

1/4/2001	
 	

Residual Value

(Value at Issue — Value at Redemption)	
 	
$	

(116,634	
)	

 	
 	

 	
 	

 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Raintree Country Club, Inc. Total	 	$	—	 	—	 	0.00	%	 
	

9/30/1997	
 	

Eagle Watch Golf Club, Limited Partnership

c/o E. Neal Trogdon

The Crescent Company

1580 South Milwaukee Avenue, Suite 101

Libertyville, IL 60048	
 	
$	

1,890,682	
 	

70,158	
 	

 	
 	

36-3903287
	

11/2/1998	
 	

Eagle Watch (redemption)	
 	
$	

(64,199.00	
)	

(2,150	
)	

 	
 	

 
	

5/21/1999	
 	

Eagle Watch (conversion)	
 	
 	

 	
 	

(1,250	
)	

 	
 	

 
	

4/28/2000	
 	

Eagle Watch (correction from 3/24/99)	
 	
 	

 	
 	

(2,000	
)	

 	
 	

 
	

7/9/2001	
 	

Redemption at disposition	
 	
$	

(696,148.50	
)	

(64,758	
)	

 	
 	

 
	7/9/2001	 	Residual Value	 	$	(1,130,334.50	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Eagle Watch Total	 	$	—	 	—	 	0.00	%	 
	

10/17/1997	
 	

Properties of the Country, Inc.

102 West Crestview Circle, Suite 100

Louisburg, KS 66053	
 	
$	

500,000	
 	

19,231	
 	

 	
 	

48-1157265
	

3/16/2001	
 	

Redemption at disposition	
 	
 	

(230,772	
)	

(19,231	
)	

 	
 	

 
	

3/16/2001	
 	

Residual Value	
 	
 	

(269,228	
)	

 	
 	

 	
 	

 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Properties of the Country, Inc. Total	 	$	—	 	—	 	0.00	%	 
	

11/25/1997	
 	

Granite Golf Corporation

1510 N. Hayden Road, Suite 7

Scottsdale, AZ 85260	
 	
$	

650,000	
 	

24,424	
 	

 	
 	

86-0926890
	

7/2/1999	
 	

Granite Golf (redemption)	
 	
 	

(200,257	
)	

(8,393	
)	

 	
 	

 
	

7/27/1999	
 	

Granite Golf (redemption)	
 	
 	

(237,935	
)	

(10,354	
)	

 	
 	

 
	

8/13/1999	
 	

Granite Golf (redemption)	
 	
 	

(125,746	
)	

(5,677	
)	

 	
 	

 
	

8/13/1999	
 	

Residual Value

(Value at Issue — Value at Redemption)	
 	
 	

(86,062	
)	

 	
 	

 	
 	

 
	

 	
 	

Granite Total	
 	
$	

—	
 	

—	
 	

0.00	
%	

 
	 	 	 	 	
	 	
	 	 	 	 
	

12/19/1997	
 	

Stonehenge Golf Development, LLC

90 Mallet Hill Road

Columbia, SC 29223	
 	
$	

4,500,000	
 	

169,811	
 	

 	
 	

56-2027442
	
 	
 	

 	
 	
 	

 	
 	

 	
 	

 	
 	

 







	

1/10/2000	
 	

Stonehenge Golf (conversion)	
 	
 	

 	
 	

(50,000	
)	

 	
 	

 
	

6/20/2000	
 	

Stonehenge Golf (conversion)	
 	
 	

 	
 	

(25,471	
)	

 	
 	

 
	

3/26/2002	
 	

Stonehenge Golf (conversion)	
 	
 	

 	
 	

(94,340	
)	

 	
 	

 
	

8/13/1999	
 	

Equity Reclass	
 	
 	

(4,500,000	
)	

 	
 	

 	
 	

 
	



 	

 	



 	

 	




	

 	




	

 	



 	

 	



 
	

 	
 	

Stonehenge Total	
 	
$	

—	
 	

—	
 	

0.00	
%	

 
	



1/16/1998	

 	



Mystic Creek Golf Club, Limited Partnership

1303 West Commerce Road

Milford, MI 48380	

 	

$	



1,500,000	

 	



52,724	

 	



0.00	

%	



38-3187304
	

9/20/2002	
 	

Mystic Creek (redemption)	
 	
 	

(91,792	
)	

(52,724	
)	

 	
 	

 
	

9/20/2002	
 	

Residual Value	
 	
 	

(1,408,207.52	
)	

 	
 	

 	
 	

 
	 	 	(Value at Issue — Value at Redemption)	 	 	 	 	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Mystic Creek Golf Club, LP Total	 	$	—	 	—	 	 	 	 
	

2/1/1998	
 	

Okeechobee Championship Golf, Inc.

2100 Emerald Dunes Drive

West Palm Beach, FL 33411	
 	
$	

6,138,369	
 	

227,347	
(1)	

0.00	
%	

65-0115196
	

9/7/2001	
 	

Redemption at disposition	
 	
 	

(2,289,924	
)	

(218,088	
)	

 	
 	

 
	

9/7/2001	
 	

Residual Value of Class A common OP units	
 	
 	

(3,848,445	
)	

 	
 	

 	
 	

 
	 	 	(Value at Issue — Value at Redemption)	 	 	 	 	 	 	 	 	 
	

9/10/2002	
 	

Redemption of Class B non-dividend bearing common OP units at $-0- value	
 	
 	

—	
 	

(9,259	
)	

 	
 	

 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Okeechobee Championship Golf, Inc. Total	 	$	(1,500,000	)	—	 	 	 	 
	

5/22/1998	
 	

Eagle Ridge Lease Company LLC

16100 N. Greenway-Hayden Loop

Scottsdale, AZ 85260	
 	
$	

1,198,750	
 	

35,794	
 	

0.45	
%	

52-2099405
	

5/28/1998	
 	

Golf Classic Resorts, LLC

536 South Avenue

Glencoe, IL 60022	
 	
$	

879,995	
 	

26,357	
 	

0.00	
%	

85-0453484
	

11/26/1999	
 	

Golf Classic Resorts (redemption)	
 	
$	

(199,633	
)	

(11,577	
)	

 	
 	

 
	

12/31/1999	
 	

Golf Classic Resorts (redemption)	
 	
$	

(34,517	
)	

(2,060	
)	

 	
 	

 
	

2/7/2000	
 	

Golf Classic Resorts (redemption)	
 	
$	

(221,408	
)	

(12,720	
)	

 	
 	

 
	

2/7/2000	
 	

Residual Value	
 	
$	

(424,437	
)	

 	
 	

 	
 	

 
	 	 	(Value at Issue — Value at Redemption)	 	 	 	 	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Golf Classic Resorts, LLC Total	 	 	—	 	—	 	 	 	 
	

8/28/1998	
 	

Osage National Golf Club LLC

900 Hickory Street

St. Louis, MO 63104	
 	
$	

3,451,068	
 	

124,700	
 	

 	
 	

43-1735431
	

6/30/1999	
 	

Osage (Redemption)	
 	
$	

(1,393,382	
)	

(58,576	
)	

 	
 	

 
	

6/20/2000	
 	

Osage (Redemption)	
 	
$	

(1,055,101	
)	

(66,124	
)	

 	
 	

 
	

6/20/2000	
 	

Residual Value	
 	
$	

(1,002,585	
)	

 	
 	

 	
 	

 
	 	 	(Value at Issue — Value at Redemption)	 	 	 	 	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Osage National Total	 	 	—	 	—	 	0.00	%	 
	

12/14/1998	
 	

Brentwood Golf & Country Club, Inc.

4801 Faircourt, West Bloomfield, MI 48322

PO Box 386, Union Lake, MI 48387	
 	
$	

650,000	
 	

24,482	
 	

0.00	
%	

38-3148750
	
 	
 	

 	
 	
 	

 	
 	

 	
 	

 	
 	

 







	

6/20/2000	
 	

Brentwood (Redemption)	
 	
$	

(390,645	
)	

(24,482	
)	

 	
 	

 
	

6/20/2000	
 	

Residual Value	
 	
$	

(259,355	
)	

 	
 	

 	
 	

 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Brentwood Total	 	 	—	 	—	 	 	 	 
	

12/22/1998	
 	

Gutta-Percha Golf, Inc.

365 W. California Blvd. Suite 2

Pasadena, CA 91105	
 	
$	

870,000	
 	

32,986	
 	

0.00	
%	

95-4493507
	

9/5/2000	
 	

Palm Desert (Redemption)	
 	
$	

(460,785	
)	

(32,986	
)	

 	
 	

 
	

9/5/2000	
 	

Residual Value	
 	
$	

(409,215	
)	

 	
 	

 	
 	

 
	 	 	 	 	
	 	 	 	 	 	 
	 	 	Gutta-Percha Total	 	$	—	 	—	 	 	 	 
	

2/4/1997	
 	

GTA LP, Inc.

14 North Adger's Wharf

Charleston, SC 29401	
 	
$	

—	
 	

7,856,289	
 	

99.19	
%	

58-2290326
	

2/4/1997	
 	

GTA GP, Inc.

14 North Adger's Wharf

Charleston, SC 29401	
 	
$	

—	
 	

16,154	
 	

0.20	
%	

58-2290217
	

Total Common OP Units	
 	
 	

 	
 	

7,920,737	
 	

100.00	
%	

 
	
Series A Preferred OP Units
	
4/2/1999	
 	

GTA LP, Inc.

14 North Adger's Wharf

Charleston, SC 29401	
 	
 	

20,000,000	
 	

800,000	
 	

100	
%	

 
	
Series B Preferred OP Units
	
5/11/1999	
 	

Metamora Golf Operating Company, L.L.C.

c/o Total Golf, Inc.

1303 W. Commerce Drive

Milford, MI 48380	
 	
 	

295,003	
 	

10,169	
 	

 	
 	

38-3462287
	

9/25/2000	
 	

Redemption at Disposition	
 	
 	

(295,003	
)	

(10,169	
)	

 	
 	

 
	

 	
 	

 	
 	

	
 	

	
 	

 	
 	

 
	

 	
 	

Metamora Total	
 	
 	

—	
 	

—	
 	

0.00	
%	

 
	
Series C Preferred OP Units
	
7/28/1999	
 	

Burning Embers Corporation

801 Aaron Smith Drive

Bridgeport, WV 26330	
 	
 	

1,350,000	
 	

48,949	
 	

 	
 	

55-0720833
	

6/20/2001	
 	

Redemption (foreclosure on collateral)	
 	
 	

(1,350,000	
)	

(48,949	
)	

 	
 	

 
	

 	
 	

 	
 	

	
 	

	
 	

 	
 	

 
	

 	
 	

Burning Embers Total	
 	
 	

—	
 	

—	
 	

0.00	
%	

 






	(1)
	Includes
218,088 Class A Common Units issued with a valuation of $5,888,376 and 9,259 Class B Common OP Units issued with a valuation of $249,993 









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Exhibit A SCHEDULE OF PARTNERS, ALLOCATION OF PARTNERSHIP UNITS, PERCENTAGE INTERESTS AND THE AGREED UPON VALUE OF NON-CASH CAPITAL CONTRIBUTIONS