Exhibit C (Reps Meeting Dec 2019)
ORANGE PARK UPDATE (Dec 2019)
- Previous owner has declared bankuptcy in Ohio without objection.
- Club property is in foreclosure and Court has appointed a receiver
- Receiver is providing for periodic mowing of club property grass among other general maintenance.
- Foreclosure procedure could be completed by year end. Would facilitate any purchase opportunities.
- A buyer with significant golf course management experience has made an offer to purchase the club
- Potential buyer made a presentation on December 5th to homeowners present for our annual meeting.
- Potential buyer indicated that if negotiations with lenders are successful, and move quickly, allowing him access to the property, golf course could be open as soon as May-June. He indicated that all 18 greens must be re-planted.
Mac McKernan, Team Rep
Country Club of Orange Park
