**Exhibit A**

** **

**SCHEDULE OF PARTNERS,**

**ALLOCATION OF PARTNERSHIP UNITS, PERCENTAGEINTERESTS**

**AND THE AGREED UPON VALUE OF NON-CASH CAPITALCONTRIBUTIONS**

 
| **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.   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 | )                            |       |                             |   |             |       |   |
|              |   |                                                                                            |                 |                                       |        |                         |       |                             |   |             |       |
|              |   | Legends of  Virginia Total                                                                      |                 | $                                          | -           |                         | -          |                             | 0.00   | %                |       |   |
|              |   |                                                                                            |                 |                                       |        |                         |       |                             |   |             |       |
| 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                      | )          |                             |   |             |       |
|              |   |                                                                                            |                 |                                       |        |                         |       |                             |   |             |       |
|              |   | Northgate Total                                                                                 |                 | $                                          | 3,638,102   |                         | 94,273     |                             | 1.17   | %                |       |   |
|                   |        |                                                                                                 |                      |                                            |             |                              |            |                                  |        |                  |            |  |  |  |

 
| **Date Admitted** |   | **Name and address of partners**                                                                                                 |         | **Value of non-cash capital contribution** |       | **Partnership units issued** |    | **Approx. Percentage Interests** |   | **Federal ID #** |        |
|-------------------|--------|----------------------------------------------------------------------------------------------------------------------------------|--------------|--------------------------------------------|------------|------------------------------|---------|----------------------------------|--------|------------------|-------------|
|              |   |                                                                                                                             |         |                                       |       |                         |    |                             |   |             |        |
| 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                      | )       |                             |   |             |        |
|              |   |                                                                                                                             |         |                                       |       |                         |    |                             |   |             |        |
|              |   |                                                                                                                             |         | -                                          |       | -                            |    |                             |   |             |        |
| 2/4/1997          |   | W. Bradley  Blair, II  14 North Adger's Wharf 

Charleston,  SC 29401                                                            |         | $                                          | -          |                         | 12,500  |                             | 0.15   | %                | ###-##-#### |   |
|                   |        |                                                                                                                                  |              |                                            |            |                              |         |                                  |        |                  |             |  |  |

 
| **Date Admitted** |   | **Name and address of partners**                                                                                                                                      |   | **Value of non-cash capital contribution** |          | **Partnership units issued** |    | **Approx. Percentage Interests** |   | **Federal ID #** |                    |
|-------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------|---------------|------------------------------|---------|----------------------------------|--------|------------------|-------------------------|
|              |   |                                                                                                                                                                  |   |                                       |          |                         |    |                             |   |             |                    |
| 2/4/1997          |   | James  Hoppenrath   422 1/2 Marguerite Ave.   Corona Del Mar CA 92625                                                                                                 |   | $                                          | -             |                         | 3,750   |                             | 0.00   | %                | ###-##-####             |   |
|              |   |                                                                                                                                                                  |   |                                       |          |                         |    |                             |   |             |                    |
| 1/6/2000          |   | James  Hoppenrath (conversion)                                                                                                                                        |   |                                       |          | (3,750                       | )       |                             |   |             |                    |
|              |   |                                                                                                                                                                  |   | $                                          | -             |                         | -       |                             |   |             |                    |   |
|              |   |                                                                                                                                                                  |   |                                       |          |                         |    |                             |   |             |                    |
| 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                     | )       |                             |   |             |                    |
|              |   |                                                                                                                                                                  |   |                                       |          | -                            |    |                             |   |             |                    |
|              |   |                                                                                                                                                                  |   |                                       |          |                         |    |                             |   |             |                    |
| 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   | %                |                    |   |
|                   |        |                                                                                                                                                                       |        |                                            |               |                              |         |                                  |        |                  |                         |  |  |  |

 

 

| **Date Admitted** |   | **Name and address of partners**                                                                             |   | **Value of non-cash capital contribution** |      | **Partnership units issued** |    | **Approx. Percentage Interests** |   | **Federal ID #** |       |
|-------------------|--------|--------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------|-----------|------------------------------|---------|----------------------------------|--------|------------------|------------|
|              |   |                                                                                                         |   |                                       |      |                         |    |                             |   |             |       |
| 10/17/1997        |   | Properties  of the Country, Inc.   908 N. 2nd Street East  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                                    | )         | -                            |    | 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                      | )       |                             |   |             |       |
|              |   |                                                                                                         |   |                                       |      |                         |    |                             |   |             |       |
|              |   |                                                                                                         |   | $                                          | 4,500,000 |                         | 94,340  |                             | 1.17   | %                |       |   |
|              |   |                                                                                                         |   |                                       |      |                         |    |                             |   |             |       |
| 1/16/1998         |   | Mystic Creek  Golf Club, Limited Partnership  32605 West 12 Mile Road  Suite 350  Farmington Hills, MI 48334 |   | $                                          | 1,500,000 |                         | 52,724  |                             | 0.65   | %                | 38-3187304 |   |
|              |   |                                                                                                         |   |                                       |      |                         |    |                             |   |             |       |
| 2/1/1998          |   | Okeechobee  Championship Golf, Inc.  2100 Emerald Dunes Drive 

West Palm  Beach, FL 33411                   |   | $                                          | 6,138,369 |                         | 227,347 | (1)                              | 0.11   | %                | 65-0115196 |   |
|              |   |                                                                                                         |   |                                       |      |                         |    |                             |   |             |       |
| 9/7/2001          |   | Redemption at disposition                                                                                    |   | (2,289,924                                 | )         | (218,088                     | )       |                             |   |             |       |
|              |   |                                                                                                         |   |                                       |      |                         |    |                             |   |             |       |
| 9/7/2001          |   | Residual Value  (Value at Issue - Value at Redemption)                                                       |   | (3,598,452                                 | )         |                         |    |                             |   |             |       |
|              |   |                                                                                                         |   |                                       |      |                         |    |                             |   |             |       |
|              |   | Okeechobee  Championship Golf, Inc. Total                                                                    |   | $                                          | 249,993   |                         | 9,259   |                             |   |             |       |   |

 

----

(1)           Includes218,088 Class A Common Units issued with a valuation of $5,888,376 and 9,259Class B Common OP Units issued with a valuation of $249,993

 

 
| **Date Admitted**     |   | **Name and address of partners**                                                                                                   |   | **Value of non-cash capital contribution** |       | **Partnership units issued** |      | **Approx. Percentage Interests** |   | **Federal ID #** |       |
|-----------------------|--------|------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------|------------|------------------------------|-----------|----------------------------------|--------|------------------|------------|
|                  |   |                                                                                                                               |   |                                       |       |                         |      |                             |   |             |       |
| 5/22/1998             |   | Eagle Ridge Lease  Company LLC   16100 N. Greenway-Hayden Loop   Scottsdale, AZ 85260                                              |   | $                                          | 1,198,750  |                         | 35,794    |                             | 0.44   | %                | 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  (Value at Issue - Value at Redemption)                                                                            |   | $                                          | (424,437   | )                            |      |                             |   |             |       |   |
|                  |   |                                                                                                                               |   |                                       |       |                         |      |                             |   |             |       |
|                  |   |                                                                                                                               |   | -                                          |       | -                            |      |                             |   |             |       |
|                  |   |                                                                                                                               |   |                                       |       |                         |      |                             |   |             |       |
| 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  (Value at Issue - Value at Redemption)                                                                            |   | $                                          | (1,002,585 | )                            |      |                             |   |             |       |   |
|                  |   |                                                                                                                               |   |                                       |       |                         |      |                             |   |             |       |
|                  |   |                                                                                                                               |   | -                                          |       | -                            |      | 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   | )                            |      |                             |   |             |       |   |
|                  |   |                                                                                                                               |   | -                                          |       | -                            |      |                             |   |             |       |
|                  |   |                                                                                                                               |   |                                       |       |                         |      |                             |   |             |       |
| 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   | )                            |      |                             |   |             |       |   |
|                  |   |                                                                                                                               |   |                                       |       |                         |      |                             |   |             |       |
|                  |   |                                                                                                                               |   | $                                          | -          |                         | -         |                             |   |             |       |   |
|                  |   |                                                                                                                               |   |                                       |       |                         |      |                             |   |             |       |
| 2/4/1997              |   | GTA LP, Inc.    14 North Adger's Wharf   Charleston, SC 29401                                                                      |   | $                                          | -          |                         | 7,761,550 |                             | 96.09  | %                | 58-2290326 |   |
|                  |   |                                                                                                                               |   |                                       |       |                         |      |                             |   |             |       |
| 2/4/1997              |   | GTA GP, Inc.    14 North Adger's Wharf Charleston, SC 29401                                                                        |   | $                                          | -          |                         | 16,553    |                             | 0.20   | %                | 58-2290217 |   |
|                  |   |                                                                                                                               |   |                                       |       |                         |      |                             |   |             |       |
| Total Common OP Units |   |                                                                                                                               |   | 8,076,993                                  |       | 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 | ) |   |   |   |   |
|                             |   |   |   |   |   |   |   |   |   |   |   |
|                             |   |   |   | - |   | - |   | 0.00 | % |   |   |
|                             |   |   |   |   |   |   |   |   |   |   |   |
| **Series C Preferred OP Units**  |   |
| 7/28/1999                        |   | Burning  Embers Corporation 

801Aaron  Smith Drive 

Bridgeport,  WV  26330 |   | 1,350,000 |   | 48,949 |   |   |   | 55-0720833 |   |
|                             |   |   |   |   |   |   |   |   |   |   |   |
| 6/20/2001                        |   | Redemption  (foreclosure on collateral) |   | (1,350,000 | ) | (48,949 | ) |   |   |   |   |
|                             |   |   |   |   |   |   |   |   |   |   |   |
|                             |   |   |   | - |   | - |   | 0.00 | % |   |   |
|                             |   |   |   |   |   |   |   |   |   |   |   |
|                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |