0000950133-05-001363 Sample Contracts

AGREEMENT
Golf Operating Agreement • March 30th, 2005 • Landmark Land Co Inc/De • Savings institutions, not federally chartered • Texas

THIS AGREEMENT (the “Agreement”) is entered into as of October 1, 2004 by and between NEW DELOS PARTNERS, L.P., a Delaware limited partnership (“New Delos”), OAKLAWN COUNTRY CLUB, LLC, a Delaware limited liability company (“Oaklawn”), MEADOWBROOK FARM, L.P., a Delaware limited partnership (“Meadowbrook”), BIG SKY COUNTRY CLUB, LLC, a Delaware limited liability company (“Big Sky”), LOST CANYONS, LLC, a Delaware limited liability company (“Lost Canyons”), DPMG, INC., a Delaware corporation (“DPMG”) and SOUTH PADRE ISLAND DEVELOPMENT, L.P., a Delaware limited partnership (“South Padre”).

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