R E C I T A L S :
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EXHIBIT 10.22
FIRST AMENDMENT TO MASTER CLUB AGREEMENT
THIS FIRST AMENDMENT TO MASTER CLUB AGREEMENT (this "Amendment") is
entered into as of the 28th day of March, 1990, by and between Master Endless
Escape Club, a Texas non-profit corporation (the "Master Club"), and Ozark
Mountain Resort Club, a Missouri non-profit corporation, Holiday Hills Resort
Club, a Missouri non-profit corporation, The Xxxxx Lake Club, a Texas
non-profit unincorporated association, The Villages Condoshare Association, a
Texas non-profit unincorporated association, The Villages Club, an
unincorporated association, Piney Shores Club, a Texas non-profit
unincorporated association, and Hill Country Resort Condoshare Club, a Texas
non-profit unincorporated association (collectively the "Clubs" and individually
a "Club").
R E C I T A L S :
WHEREAS, the Master Club and the Clubs entered into a certain Master
Club Agreement, as of the 28th day of March, 1990 (the "Master Club
Agreement"), for the purpose of implementing the administrating the Endless
Escape Program; and
WHEREAS, the Master Club and the Clubs now desire to clarify the
provisions of paragraph 2 of the Master Club Agreement without making any
substantive changes thereto;
NOW, THEREFORE, for and in consideration of TEN AND NO/100 DOLLARS
($10.00), and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Master Club and the Clubs
hereby agree as follows:
A. Paragraph 2 of The Master Club Agreement is hereby deleted in
its entirety and replaced with the following new paragraph 2:
2. In order to enable the Master Club to perform the
responsibilities and duties described hereinabove, each
Club agrees to pay to the Master Club the following
amounts as a fee to the Master Club for the services
rendered by the Master Club for the benefit of each
Club: (i) all dues, assessments, late charges and
other amounts levied against its respective members
pursuant to the Declaration of Restrictions, Covenants
and Conditions and the By-Laws of such respective Club,
plus (ii) all other income generated by its respective
Resort, all such amounts being subject to any subsequent
adjustment for bad debts arising therefrom. The Master
Club will use its fee from the Clubs to pay (i) the
individual common expenses of each Resort, and (ii) the
system-wide costs and expenses of administering and
maintaining the Program and operating and managing the
Resorts including, but not limited to expenses for
accounting, legal services, administration, payroll and
management of the entire resort system.
B. Except as expressly amended hereby, the original terms and
conditions of the Master Club Agreement are hereby ratified and
confirmed by the Master Club and each of the Clubs. This
Amendment inures to the benefit, and is binding upon, the Master
Club and each of the Clubs and their respective successors,
legal representatives and assigns.
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C. This Amendment may be signed in any number of
counterparts, each of which shall be an original,
with the same effect as if the signatures thereto and
hereto were upon the same instrument, and all such
counterparts shall be deemed one and the same
instrument.
Executed this ______ day of December, 1991.
MASTER CLUB:
MASTER ENDLESS ESCAPE CLUB, a Texas
non-profit corporation
By: /s/ XXXXXX X. XXXXXXXXX
-----------------------------------
Its: PRESIDENT
-----------------------------------
CLUBS:
OZARK MOUNTAIN RESORT CLUB, a Missouri
non-profit corporation
By: /s/ XXXXXXX XXXXXXXX
-----------------------------------
XXXXXXX XXXXXXXX, Governor
By: /s/ XXXX XXXXXXX
-----------------------------------
XXXX XXXXXXX, Governor
By: /s/ XXXXXXX XXXXXXXX
-----------------------------------
XXXXXXX XXXXXXXX, Governor
By: /s/ XXXXXX XXXX
-----------------------------------
XXXXXX XXXX, Governor
By: /s/ XXXXXX XXXXXX
-----------------------------------
XXXXXX XXXXXX, Governor
HOLIDAY HILLS RESORT CLUB, a Missouri
non-profit corporation
By: /s/ XXXXXX XXXX
-----------------------------------
XXXXXX XXXX, Governor
By: /s/ XXXX XXXXXXX
-----------------------------------
XXXX XXXXXXX, Governor
By: /s/ XXXXXXX XXXXXXXX
-----------------------------------
XXXXXXX XXXXXXXX, Governor
By: /s/ XXXXXXX XXXXXXX
-----------------------------------
XXXXXXX XXXXXXX, Governor
By: /s/ XXX XXXXXXXXX
-----------------------------------
XXX XXXXXXXXX, Governor
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THE XXXXX LAKE CLUB, a Texas non-profit
unincorporated association
By: /s/ XXXX XXXXXXX
-----------------------------------
XXXX XXXXXXX, Governor
By: /s/ XXXXXXX XXXX
-----------------------------------
XXXXXXX XXXX, Governor
By: /s/ XXXX XXXXXX
-----------------------------------
XXXX XXXXXX, Governor
By: /s/ XXXXXX XXXX
-----------------------------------
Xxxxxx Xxxx, Governor
By: /s/ XXXXXXX XXXXX
-----------------------------------
XXXXXXX XXXXX, Governor
THE VILLAGES CONDOSHARE ASSOCIATION, a
Texas non-profit unincorporated
association
By: /s/ XXXXXX XXXXXXXX
-----------------------------------
XXXXXX XXXXXXXX, Governor
By: /s/ XXXX XXXXXXX
-----------------------------------
XXXX XXXXXXX, Governor
By: /s/ XXXXXXX XXXXXXXX
-----------------------------------
XXXXXXX XXXXXXXX, Governor
By: /s/ XXXXXXX XXXXX
-----------------------------------
XXXXXXX XXXXX, Governor
By: /s/ XXXXXX XXXX
-----------------------------------
Xxxxxx Xxxx, Governor
THE VILLAGES CLUB, a Texas non-profit
unincorporated association
By: /s/ XXXX XXXXXXX
-----------------------------------
XXXX XXXXXXX, Director
By: /s/ XXXXXXX XXXXXXXX
-----------------------------------
XXXXXXX XXXXXXXX, Director
By: /s/ XXXXX XXXXX
-----------------------------------
XXXXX XXXXX, Director
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By: /s/ XXXXXX XXXX
-----------------------------------
Xxxxxx Xxxx, Director
By: /s/ XXXXX XXXXXX
-----------------------------------
XXXXX XXXXXX, Director
PINEY SHORES CLUB, a Texas non-profit
unincorporated association
By: /s/ XXXXXX XXXXXX
-----------------------------------
XXXXXX XXXXXX, Governor
By: /s/ XXXX XXXXXXX
-----------------------------------
XXXX XXXXXXX, Governor
By: /s/ XXXXX XXXXX
-----------------------------------
XXXXX XXXXX, Governor
By: /s/ XXXXX XXXXXXXX
-----------------------------------
XXXXX XXXXXXXX, Governor
By: /s/ XXXXXX XXXX
-----------------------------------
Xxxxxx Xxxx, Governor
HILL COUNTRY RESORT CONDOSHARE CLUB, a
Texas non-profit unincorporated
association
By: /s/ XXXX XXXXXXXXX
-----------------------------------
XXXX XXXXXXXXX, Governor
By: /s/ XXXX XXXXXXX
-----------------------------------
XXXX XXXXXXX, Governor
By: /s/ XXXXXXXX XXXXX
-----------------------------------
XXXXXXXX XXXXX, Governor
By: /s/ XXXX XXXXXX
-----------------------------------
XXXX XXXXXX, Governor
By: /s/ XXXXXX XXXX
-----------------------------------
Xxxxxx Xxxx, Governor
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