Internal Rules - Section III

Rights and responsibilities of members

ARTICLE 11

MEMBERS WILL HAVE THE FOLLOWING RIGHTS AND OBLIGATIONS:

RIGHTS:

To contribute to the specific aims of the Club, that is, the participation in recreational and sporting activities, particularly golf, by its members.

To use and enjoy all the Club’s recreational and sporting facilities, in observance of the resolutions by the Company’s General Meeting and Governing Board and the Club’s Board of Directors and of the specifications contained in theregulations and manuals.

OBLIGATIONS:

To observe strictly the rules of etiquette, courtesy, politeness and good manners in the clubhouse and sports facilities, and particularly in relations with other members. No member shall at any time notify the Club staff of an offence, but will make the
offence and its perpetrator known to the manager or to his or her representatives.

To look after the Club’s facilities and services as though they were his or her own, as is indeed the case of Shareholder members. Acts of vandalism or which cause serious damage to the facilities and services which are attributable to a member, albeit an underage family member, will be reason for temporary or definitive suspension, with the main member being held responsible for the
damages caused.

To provide an address for notifications and details of a bank account for payment of fees.

To pay all sums owing for maintenance fees, use of facilities and services and generally speaking, any amount owed which arises from his or her condition of member. The share or undertaking to purchase will constitute a specific liability in these cases, as it will serve as a guarantee without transfer of ownership, for the financial obligation to pay the fees or any other debts to the Company.

In connection with this, the Company will issue, at the request of the share purchaser, a statement of the transferor’s account.