Frequently Asked Questions
THE PROJECT
- Tell me about this Montana golf community Project.
- Who is the Developer?
- Describe the open and park areas of the development?
- What is the range of lot sizes and prices?
- What is included in the price of a golf course home lot?
- What is the range of golf Club Home sizes and prices?
- How will you maintain the quality of golf course homes in the development?
- How are sewer and water services provided?
GOLF COMMUNITY CONSTRUCTION SCHEDULE
GOLF COMMUNITY REAL ESTATE
- How can I buy a lot at Black Bull?
- Will there be restrictions on the resale of lots?
- When will we be required to close on the Phase I Lots?
THE BLACK BULL GOLF CLUB
- What is The Black Bull Golf Club?
- What are the special features of membership in the Club?
- What facilities will the Club offer?
- When will construction of the Club Facilities be completed?
- What is a member-owned club?
- What benefits are provided by member-ownership?
- How will the Club acquire the facilities?
- What categories of membership will be offered by the Club?
- What are the privileges of a Golf Membership?
- What are the privileges of a Social Membership?
- How many memberships will be available in the Club?
- To whom will memberships be offered?
- As a purchaser of a residence or home site in the Community, am I required to acquire a membership?
- Will members of my family be entitled to use my membership privileges?
- Will my guests be able to use the Club Facilities?
- Will any other types of memberships or use privileges be offered?
- Are Equity Members entitled to vote on matters dealing with the Club?
- How is the Board of Directors selected?
- What is the Board of Governors?
- When does the Turnover Date occur?
- Why does the Company keep control even though the members own the Club?
- Will the Club retain a management company to operate the Club Facilities?
- How do I become a member of the Club?
- What do I receive acknowledging my ownership interest in the Club?
- What do I have to pay in order to acquire a membership in the Club?
- Will we pay any additional membership purchase price when control of the Board of Directors is shifted to member-elected directors?
- How are monthly dues established?
- Will operating assessments be made to cover any operating deficit?
- What if the Club loses money after the Turnover Date?
- What about assessments for capital expenditures?
- May I transfer my Equity Membership?
- May I arrange for the subsequent owner of my residence or home site in the Community to acquire my Equity Membership?
- Is my Equity Membership contribution refundable?
- Can my membership be inherited upon my death?
- Can I transfer my membership to an adult child?
- Are the Club and Real Estate Documents completed?
- What should I do if I have additional questions?
THE GOLF COMMUNITY PROJECT
- Tell me about this Montana golf community Project.
- Black Bull Subdivision is located on the historic Leachman Angus Ranch just west of Bozeman, Montana. The mountain golf community development contains 375 homes; 270 of which are single family custom golf course home lots varying in size between one third acre to about an acre; and the remaining being 105 golf Club Homes which will be built by the Developer. The Club Homes are single family homes on lots approximately of 8,000 to 13,000 square feet. The Club Homes lawn and landscape areas will be integrated in design and maintained by their Homeowners Association. The golf community Project will contain a number of parks as well as natural open areas coupled with a series of lakes and streams; a private 18 hole championship golf course designed by Tom Weiskopf; clubhouse facilities which will provide bar and restaurant services, a car washing service, golf pro shop, private men’s and women’s locker and lounge areas for golf members, a full fitness center with spa and massage services and an activity center with tennis and pool facilities.
Return to top - Who is the Developer?
- The developer, Black Bull Run Development, LLC, is a partnership between The Winchester Group, LLC (TWG) and CLB Partners, LLC (CLB). TWG has extensive experience in the development of high end residential golf communities. The principles of TWG are Craig Bryant, Steve Barrett and Mike Rowe. CLB has extensive experience in high end urban infill projects and luxury residential real estate development. The principles of CLB are Richard Bloch and Will Cureton. TWG and CLB principles have developed or managed the development of multiple residential/golf planned unit communities, high rise condominiums, town homes and mixed use projects and lodges in Montana, Texas, California, Florida, Missouri, Arizona, and Andros Island, Bahamas. All of TWG’s golf community projects are rated among the best in their respective states, with two golf courses rated in the top 100 in the United States, and one course is ranked in the top 100 in the world. Look at www.TWGGOLF.com and www.CLBPARTNERS.com for more information.
Return to top - Describe the open and park areas of the development?
- The golf community development will contain numerous parks and open areas as well as multiple lakes and streams and will include such features in and through the residential neighborhoods as well as the golf course. There are approximately 13 acres of lakes and streams located throughout the development and more than 36 acres of parks and non-golf open space blending well with the environment surrounding this mountain golf community. The park and open areas will be fully landscaped and maintained by the homeowners association, and pathways will connect with neighborhood walking paths.
Return to top - What is the range of lot sizes and prices?
- The custom golf course home sites will range in size from approximately one third acre to approximately one acre. Lots are priced based on size, location, view, proximity to golf, watercourses, open space and amenities. Prices will range from around $200,000 up to $650,000.
Return to top - What is included in the price of a golf course home lot?
- In addition to the lot fully serviced by utilities, the lot price includes the following required payments most of which in this area are traditionally paid by the Lot Owner at closing. Other county fees may apply.
Return to topSewer Connection Fee $5,000.00 School Impact Fee $1,000.00 Social Membership Fee $3,000.00 TOTAL $9,000.00 - What is the range of golf Club Home sizes and prices?
- The Club Homes will be located on lots approximately 8,000 to 13,000 square feet in size and will range from around 2200 to 4000 square feet. Prices are currently estimated to range from the $700,000’s to over $1,000,000. The Club Homes will be finished at a high level and will offer opportunities for some customization.
Return to top - How will you maintain the quality of golf course homes in the development?
- This Montana golf community development will have strict architectural guidelines and covenants to insure that everyone’s property values are protected. The covenants and guidelines will be enforced by an architectural committee through the golf community homeowners association. To maintain the aesthetic quality of the project, all plans submitted for approval to the architectural committee must be stamped by an architect certifying their compliance with the design guidelines and covenants.
Return to top - How are sewer and water services provided?
- The development will be served with both sewer and potable water by Utility Solutions, Inc. Utility Solutions is a private water and sewer company in the Four Corners area providing services to Elk Grove Subdivision and other developments in the area, and whose service to the Black Bull golf community Project has been approved by the State of Montana. Water for the golf course, the homeowner’s yards and the landscape features of the residential common areas will be provided by existing surface water in conjunction with the Four Corners sewer and water district.
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GOLF COMMUNITY CONSTRUCTION SCHEDULE
- What is the schedule for constructing the infrastructure for the golf course home lots, Club Homes, golf course and the clubhouse?
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a. We anticipate starting construction on the first phase of residential infrastructure in the fall of 2006, probably about the beginning of October. The infrastructure will include roads, sewer, water, and utilities including electrical, gas, cable television, internet access and telephone. Closings on the first phase lots are anticipated to occur in April of 2007. The golf course home lots will be available for construction about May of 2007.
b. Construction on the Tom Weiskopf golf course has already started. Rough shaping, grading, irrigation, along with the construction of tee and green complexes was completed in the winter of 2006. We began seeding the course and landscaping certain areas in the fall of 2006, and will continue in the spring of 2007. Depending on the weather and other factors, the course may be seeded, completed with sod, or a combination of the two. We anticipate a soft opening of the golf course in the late summer or early fall of 2007.
c. Construction will begin on the clubhouse in the spring of 2008. Construction of the clubhouse will take about a year. We will begin construction of our tennis and pool facilities in the January 2007 and finish in time for the opening of golf. These facilities will be used as an interim pro-shop while the clubhouse is under construction.
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GOLF COMMUNITY REAL ESTATE
- How can I buy a lot at Black Bull?
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It’s easy to acquire a lot at Black Bull. You can contact us for details. To view a scale model of the project, stop by the ERA office in downtown Bozeman.
Return to top - Will there be restrictions on the resale of lots?
- Yes. If a lot is offered for resale within twelve months of the closing on the sale of the lot the Developer reserves the right, but not the obligation, to repurchase the lot at the same price as its was originally sold. Notice of Developer’s election to repurchase the Lot will be made within 14 business days of presentation to Developer of a written agreement for the resale of the Lot. This restriction will not apply to a lot on which a residential single family structure has been constructed. This restriction will be removed when 85% of the total lots in the Project have been sold.
Return to top - When will we be required to close on the Phase I Lots?
- The Phase I Lots were released in the fall of 2006. Lot purchasers are required to enter into a binding Buy-Sell Agreement which includes a $10,000 earnest money deposit. We anticipate closing on the first phase lots in April of 2007 with the lots being available for construction later in the spring of 2007. Closing on the lots may occur before the lots are ready for construction.
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THE BLACK BULL GOLF CLUB
The Black Bull Golf Club (the “Club”) offers the opportunity to purchase an Equity Membership in the Club. Membership provides the opportunity to use the Club’s recreational facilities and to become a voting member of an equity, member-owned club. The following Questions and Answers explain some of the more important features of the membership opportunity at the Club. For a full description of the benefits and privileges of membership, please refer to the Membership Plan and related documents referred to therein (collectively, the “Membership Documents”).
- What is The Black Bull Golf Club?
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The Black Bull Golf Club is a member-owned private club which will offer its owner members a unique opportunity to enjoy outstanding recreational facilities. The Club is situated in the Black Bull residential community (the “Community”) in Bozeman, Montana.
Return to top - What are some of the important features of membership in the Club?
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Membership in The Black Bull Golf Club offers a number of special features such as:
Refundable Membership Contribution. Golf Members are entitled to a refund upon resignation and reissuance of the membership, as provided for in the Membership Documents.
Resigned Memberships Reissued Prior to Membership Sell-Out. Resigned Golf Members do not have to wait until all new memberships in the Club have been issued before their membership is reissued and they receive their refund, as provided for in the Membership Documents. Every fourth Golf Membership issued will be a resigned membership from the waiting list.
Transferability of Memberships. Golf and Social Memberships are transferable through the Club to the subsequent purchaser of a member’s residence or home site in the Community.
Control of Club Operations and Policies. After turnover, Equity Members will be entitled to elect the members of the Board of Directors, which governs the Club.
Ownership Interest in Club. Each Equity Member has an ownership interest in the Club and is entitled to vote on matters affecting the Club in accordance with the Membership Documents.
Immediate Family Privileges. A member, his or her spouse or significant other and their unmarried children under the age of 23 are entitled to membership privileges without having to pay additional membership dues.
Extended Family Privileges. The adult or married children, grandchildren, parents and grandparents of the member and spouse or significant other and their respective spouses or significant others can use the facilities upon the payment of preferred fees.
Legacy Transfer. A member can request the transfer of his or her membership through the Club to the member’s adult child as provided for in the Membership Documents.
Inheritability. Upon the death of a member, the membership can be transferred to the deceased member’s spouse, or adult child if approved for membership as provided for in the Membership Documents.
Club Newsletter. Members will receive a periodic newsletter containing information about events and activities at the Club and other items of interest.
Website. The Club’s web page located at www.blackbullbozeman.com provides members with access to important, up-to-date club information.
Return to top - What facilities will the Club offer?
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The Club Facilities will include:
18-hole signature Tom Weiskopf golf course;
Golf practice facilities including practice range and putting green;
Clubhouse of approximately 35,000 square feet featuring dining and lounge facilities including a grill room, a fitness and spa area, men’s and women’s locker rooms with adjacent lounges, a golf shop, administrative offices and a cart storage area;
Swim/Tennis Clubhouse of approximately 4,000 square feet including men’s and women’s locker rooms and snack bar;
At least two tennis courts; and
Swimming pool.
Return to top - When will construction of the Club Facilities be completed?
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The golf course and practice facilities are anticipated to be completed and open for use in fall 2007. The Swim & Tennis Center is also expected to be completed in fall 2007. Plans are to begin construction on the main Clubhouse in the spring of 2008. Construction of the balance of the Club Facilities will commence no later than when the golf course opens for play. The Swim & Tennis Center will be used as a temporary clubhouse until the main Clubhouse is completed.
Return to top - What is a member-owned club?
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A member-owned club permits its members to control the Club through the right to vote. The operation of the Club Facilities is accomplished through the direction of a “Board of Directors,” which is ultimately elected by the members. This Board oversees the management of the Club. Major issues are normally decided only by vote of the members.
Return to top - What benefits are provided by member-ownership?
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As a result of member control, a member-owned club assumes the characteristics of its membership. The club experience and lifestyle are enhanced by the heightened interest and participation of member-owners and the greater continuity in the membership which is found in a member-owned club. Member ownership also creates a greater cohesiveness within the community.
Member-ownership answers the open questions as to what will become of the Club Facilities in the future, by clearly establishing which entity will own and control the Club Facilities after the development of the Community is complete. The members themselves will ultimately set the rules and costs of membership privileges.
Return to top - How will the Club acquire the facilities?
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Black Bull Run Development, LLC, a Delaware limited liability company (the “Company”) has arranged for the transfer to the Club of all of the Company’s, right, title and interest in the Club Facilities. In consideration for the transfer of the Company’s interest in the Club Facilities, the Company will receive a portion of the Equity Memberships to be issued in the Club. Control of the operation of the Club will initially be retained by the Company and will ultimately be turned over to the Equity Members on the Turnover Date, as hereinafter provided.
Return to top - What categories of membership will be offered by the Club?
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The Club will offer two categories of Equity Membership: Golf Membership and Social Membership.
Return to top - What are the privileges of a Golf Membership?
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Each person who acquires a Golf Membership will be entitled to use all of the golf, tennis, swimming, fitness, spa and social facilities of the Club. Golf Members will not be required to pay green fees or court fees for use of the golf and tennis facilities, but will be required to pay golf cart fees.
Return to top - What are the privileges of a Social Membership?
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Each person who acquires a Social Membership will be entitled to use all of the tennis, swimming, fitness, spa and social facilities of the Club. Social Members will not, however, be entitled to use the men’s and women’s golf locker and grill rooms located in the clubhouse. Social Members will not be required to pay court fees for use of the tennis facilities.
Return to top - How many memberships will be available in the Club?
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The number of memberships permitted in each category is set forth below:
Return to topCategory Number of Memberships Golf Membership 350 Social Membership Sufficient number so that
any property owner in the
Community can obtain one. - To whom will memberships be offered?
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Golf Memberships will be offered to initial purchasers of a residence or home site in the Community and such other persons as the Club or Company determines appropriate from time to time, including those persons who do not own a residence or home site in the Community. Social Memberships will only be offered to property owners in the Community. The Club retains the right, however, to offer Non-Resident Social Memberships in the future.
Return to top - As a purchaser of a residence or home site in the Community, am I required to acquire a membership?
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Yes. Each purchaser of property in the Community must apply for a membership in the Club and, if accepted for membership, must acquire at least a Social Membership no later than the closing on the sale and purchase. Purchasers of property in the Community must maintain at least a Social Membership for the period of ownership of the residence or home site. The foregoing requirement may not apply to certain builders designated by the Company. Any initial purchaser who is given the opportunity to select a Golf Membership and who does not do so at the time of acquiring the membership, may acquire a Golf Membership thereafter only if a Golf Membership is available and not otherwise reserved by the Club, and only upon payment of the applicable membership contribution which is in effect at the time the membership is acquired.
Return to top - Will members of my family be entitled to use my membership privileges?
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Yes. A member’s immediate family will be entitled to use the Club Facilities on the same basis as the member, subject to the provisions of the Membership Documents. A member’s immediate family will include the member’s spouse or significant other and their unmarried children under the age of 23.
A member living together with another individual (“significant other”) in the same household as a family unit may designate the significant other on a membership year basis to use the Club Facilities as an immediate family member. The total number of adults who may have family privileges is limited to two adults, age 18 years or older, per membership. The member and the significant other shall be individually and jointly responsible for the payment of all charges and fees incurred by the significant other. The Club reserves the right to require such forms and establish such fees and other rules it deems appropriate with respect to access by a significant other.
The extended family of a member may enjoy the membership privileges of the member upon payment of such preferred fees as may be established by the Club. The extended family shall include the parents, grandparents, children who do not fall within the definition of immediate family and grandchildren of the member and spouse or significant other and the spouses or significant others of such family members. The Club may modify or terminate this privilege and establish such rules with respect thereto as it may determine from time to time, including without limitation, the requirement that extended family members be accompanied by the member or an immediate family member when using the Club Facilities.
Although each membership has family and guest privileges, the Club may establish primary playing times during which golf play by children, extended family, and/or guests may be restricted to better accommodate play by members and their spouses or significant others. The Club may designate times when only members and their spouses or significant others may play or when children, extended family and/or guests may not play golf.
Return to top - Will my guests be able to use the Club Facilities?
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Yes. Members may have guests use the facilities of the Club upon payment of the applicable guest charges. Guest use shall be subject to and in compliance with the Rules and Regulations of the Club, which may include, without limitation, restrictions on the number of times a particular guest may use all or a portion of the Club Facilities, a requirement that all guests be accompanied by a member and the total number of guests a member can sponsor during any Membership Year, or portion thereof. The Club reserves the right to establish additional guest policies from time to time. The member will be responsible for the payment of charges incurred but not paid by his or her guests, including any applicable guest fees established by the Club from time to time. Members will also be responsible for the conduct of their guests.
Return to top - Will any other types of memberships or use privileges be offered?
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Yes. The Club may offer National Memberships to persons who are eligible for this category and who are approved by the Club. The conditions for eligibility shall be determined by the Club. The Club may also offer a limited number of Non-Resident Social Memberships to persons who do not own property in the Community.
The Club has reserved the right to issue up to 12 Honorary Memberships to individuals designated by the Company. In addition, the Club reserves the right one or more classes of membership in the future in the event that shared ownership interests are sold at the Community, which will be directed to the purchasers thereof.
The Club will also be permitted to reserve the Club Facilities from time to time for tournaments and other special events. The Company also has certain promotional use privileges as described in the Membership Plan.
Return to top - Are Equity Members entitled to vote on matters dealing with the Club?
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Yes. On all matters to be voted upon by the members of the Club, Golf Members are entitled to three votes per membership and Social Members are entitled to one vote per membership.
Return to top - How is the Board of Directors selected?
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Until the Turnover Date, the Company will appoint all members of the Board of Directors of the Club. Decisions made by the directors appointed by the Company shall be in good faith and in a manner reasonably believed to be in the best interest of the Club, its members and the development and marketing of the Community. After the Turnover Date, all new members of the Board of Directors will be elected by the Equity Members entitled to vote, except that the Company has the right to appoint one director for so long as the Company is managing the operation of the Club and the Club Facilities pursuant to the management contract referred to below.
Return to top - What is the Board of Governors?
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An advisory Board of Governors will be established to serve as a liaison between the management of the Club and the members. The Board of Governors will meet with Club management on a regular basis to discuss the operation of the Club and the Club Facilities. The Company will designate all of the members of the Board of Governors who will serve for specific terms. The Board of Governors will have no duty or power to negotiate or otherwise act on behalf of the members of the Club and shall serve only in an advisory capacity until the Turnover Date.
Return to top - When does the Turnover Date occur?
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The "Turnover Date" will be within 60 days after the initial sale of eighty-five percent (85%) of the maximum number of Golf Memberships which can be issued in the Club, but, at the election of the Company, no later than January 15, 2013.
Prior to the Turnover Date, the Company will fund all operating deficits and be entitled to retain any excess operating funds of the Club.
Return to top - Why does the Company keep control even though the members own the Club?
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The Company desires to retain control until the Clubin its initial phases to establish the Club’s operational and management procedures and to insure all Club operations are properly integrated. The Company has agreed to fund operating deficits while the membership base at the Club grows. The Company also wants to insure the high level of service the members expect. Additionally, the operation of the Club Facilities is an integral part of the Company’s real estate sales and continuing development of the Community.
Return to top - Will the Club retain a management company to operate the Club Facilities?
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The Club will enter into a management contract with the Company for the management of the Club Facilities. The term of the management contract will expire two years after the Turnover Date, provided, however, that the Company has two extension options, each for one year. The Club can also extend the management contract for one-year terms. The management contract will help insure continuity in the operation of the Club Facilities after the Turnover Date.
Return to top - How do I become a member of the Club?
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Membership in the Club is subject to Club approval and such approval shall be made by the Club in its sole discretion. All prospective members are required to fully complete and execute the Application for Membership. Once approved for membership, the completed and executed Membership Purchase Agreement, and a check in U.S. funds made for the required amount in the Membership Purchase Agreement should be delivered to the Membership Office.
Return to top - What do I receive acknowledging my ownership interest in the Club?
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Upon approval for membership and payment of the required membership contribution, you will receive a membership certificate confirming your ownership interest in the Club.
Return to top - What do I have to pay in order to acquire a membership in the Club?
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Persons who apply and approved for membership are required to pay a membership contribution in an amount determined from time to time by the Company. The required membership contribution will be set forth in the Membership Purchase Agreement. Initial purchasers of property in the Community who become Social Members rather than Golf Members are entitled to a waiver of the payment of the membership contribution.
Return to top - Will we pay any additional membership purchase price when control of the Board of Directors is shifted to member-elected directors?
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No. The purchase price of an Equity Membership indicated in your Membership Purchase Agreement represents the full purchase price.
Return to top - How are monthly dues established?
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Each year the Board of Directors will determine the amount of dues to be payable monthly in advance, or on such other basis as determined from time to time by the Club. Prior to the Turnover Date, the dues for use of the Club Facilities will be reasonable in comparison to comparable clubs nationwide. After the Turnover Date, the Board of Directors may set the amount of dues at any level deemed appropriate. The current dues for use of the Club Facilities are indicated on the Schedule of Dues, Fees and Charges. The amount of dues, fees and other charges is subject to change from time to time by the Club.
Return to top - Will operating assessments be made to cover any operating deficit?
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Until turnover of control of the Club to the members, the Company will fund the operating deficits of the Club. Thereafter, the Board of Directors will determine if an assessment is necessary to cover an operating deficit, and if so, the assessment will be prorated among the Equity Members in proportion to their dues.
Return to top - What if the Club loses money after the Turnover Date?
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The dues, fees and charges of the Club should provide sufficient revenues to allow the Club to break even. If this does not happen, the Board of Directors can either raise dues and charges, assess the members for the operating deficit or take other actions as they deem necessary in their business judgment.
Return to top - What about assessments for capital expenditures?
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There will be no assessments for capital expenditures unless a majority of the votes entitled to be cast by Equity Members vote in favor of the capital assessment, except those assessments required to pay extraordinary repairs or replacements, which do not require member approval. Assessments for capital expenditures on the golf course, golf practice facility, golf maintenance facilities and those areas of the clubhouse reserved for Golf Members only (the “golf facilities”) shall be voted upon by and prorated among all of the Equity Golf Members. All other assessments for capital expenditures shall be voted upon by all Equity Members of the Club and shall be prorated equally among all Equity Members.
Return to top - May I transfer my Equity Membership?
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You may transfer an Equity Membership only through the Club by resigning your membership so that it may be reissued by the Club. Equity Members who desire to resign their memberships to the Club must give the Club written notice that their memberships are available for the Club to reissue. The Club will maintain a buyer’s waiting list of persons who desire to acquire each category of membership in the Club, and a resigned waiting list of members who want the Club to reissue their membership.
Return to top - May I arrange for the subsequent owner of my residence or home site in the Community to acquire my Equity Membership?
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Yes. An Equity Member who owns a residence or home site in the Community may arrange for the Club to reissue his or her membership to the subsequent purchaser of the residence or home site. The subsequent purchaser must be approved for membership, pay the required membership contribution in the case of a Golf Membership, or transfer fee in the case of a Social Membership, and acquire the membership prior to or at the closing of the purchase of the property.
Return to top - Is my Equity Membership contribution refundable?
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Yes. The holder of a Golf Membership which has been resigned is entitled to a refund after the Golf Membership has been reissued by the Club. Upon reissuance of the membership, the amount to be refunded is eighty percent (80%) of the amount of the membership contribution established at the time for a Golf Membership. The Club shall be obligated to make a refund to the resigning Golf Member only after the membership has been reissued to a successor Golf Member who has paid the required membership contribution in full to the Club, unless otherwise determined by the Club in its sole discretion. If the Golf Membership is not being transferred to the subsequent purchaser of the member’s residence or home site in the Community, it will be placed on a resale waiting list. Until all Golf Memberships have been initially issued, the Club will reissue one resigned Golf Membership for every three new Golf Memberships issued.
Resigned Social Members are not entitled to a refund.
- Can my membership be inherited upon my death?
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Yes Upon the death of a member, the membership will automatically pass to the surviving spouse of the deceased member without the payment of any additional membership contribution. If the deceased member is not survived by a spouse, then the legatee or heir of such member, if approved for membership by the Club, will have the right to acquire the deceased member’s membership. The legatee or heir must make application no later than 90 days after the right to possession of the membership certificate, and pay all dues, unpaid membership contributions and interest, if any, unpaid charges, and assessments for the intervening years between the date of the member’s death and the date of the application. If the legatee or heir does not apply for the membership within 90 days after acquiring the right to possession of the membership certificate, the membership will be surrendered to the Club, and thereafter, the Club may reissue the membership on the same basis as any other resigned membership, whereupon the Club shall pay the estate of the deceased member, upon payment of the membership contribution in full by the successor member, the amount of the refund due as provided herein upon a transfer of a membership.
The foregoing is subject to the mandatory Social Membership requirement for property owners in the Community.
Return to top - Can I transfer my membership to an adult child?
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Yes. An Equity Member can request the transfer of his or her Equity Membership to an adult child subject to the approval of the Club and to payment of such capital contribution or transfer fee as may be determined by the Club from time to time. The membership transfer will not be subject to any waiting lists.
The foregoing is subject to the mandatory Social Membership requirement for property owners in the Community.
Return to top - Are the Club and Real Estate Documents completed?
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Yes. All of the latest drafts of the Club and Real Estate documents are available on cd-rom. Please call or email if you would like a copy of the disc mailed to you.
Return to top - What should I do if I have additional questions?
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Complete details about membership opportunities are available from the Membership Office, which can also answer any questions regarding the Club and its operation. For further information, please contact:
The Black Bull Golf Club
4711 Love Lane
Bozeman, Montana 59718
(406) 556-5011
ALL THE ABOVE INFORMATION IS PRELIMINARY AND
SUBJECT TO CHANGE