Terms and Conditions

1. Membership and Membership Fee. Upon payment of the Club Membership Fee, Member shall be enrolled as a Member of the Club. The Club Membership Fee  is $83.00 per month. The Club membership fees is non-refundable except as provided in Section 2, below.
2. Term. Subject to the provisions and conditions of this Agreement, Member's Membership in the Club and his or her right to receive the Club Services described in Exhibit A attached hereto is a lifetime membership that shall commence on the date the Club Membership Fee is received by Forbes and continue during the Member's lifetime for so long as Forbes continues to operate the Club. Forbes reserves the right to terminate the Club at any time; provided, however, if (and only if) Forbes terminates the Club prior to providing member the opportunity to buy at least one condominium unit, Forbes will refund the Club Membership Fee.
3. Termination. Forbes, in addition to any other rights or remedies available to it hereunder or pursuant to applicable law, may suspend or terminate Member's membership in the Club in any of the following events:
   1. Default. The Member (a) defaults in the purchase of a home from a Developer (defined in Section 5.c, below), (b) is in default under the CC&Rs or other governing instrument of a project in which the Member has purchased a home from Developer, or (c) fails to perform any agreement or obligations contained herein, and such default is not timely cured in accordance with the terms of the agreement or obligation which is the subject of the default.
   2. Conviction. The Member is convicted of a felony or misdemeanor involving moral turpitude. A plea or verdict of guilty is deemed to be a conviction within the meaning of this section.

   3. Detrimental Conduct. The Member's conduct is found by Forbes to be detrimental to the best interests of the Club, including, for example, disruptive behavior during a VIP event.

      A Member shall be given notice of the determination of Forbes of cause for the termination of his or her membership not more than fifteen (15) days after such determination has been made (the "Determination Date"), which notice shall state the reason therefor and the time and place of the hearing thereon, and shall be given in writing personally to the Member whose conduct is in question or sent by first class mail to his or her last address as shown on the records of the Club.

      If the conduct in question arises under subparagraph 3(a) above, the hearing will not proceed unless Forbes shall receive notice from the Developer or the homeowners association, as the case may be, that the Member is in default. The failure of the Member to timely cure such default - provided that this agreement shall not be deemed to provide any additional right to cure that would not otherwise be available to the Member - shall be deemed the resignation of such Member, which shall be effective on the date of the hearing and immediately prior to the convening of the Board for the hearing, and the matter shall be deemed closed.

      The hearing must be held not less than fourteen nor more than ninety days after the date of such notice. All rights and privileges of the Member shall be suspended from the date of such notice until final disposition of the matter. The Member shall have the right to be present at the hearing. The Member may elect to be heard orally or in writing.

      If the conduct in question arises under subparagraph 3(a) above, the hearing will not proceed unless Forbes shall receive notice from the Developer or the homeowners association, as the case may be, that the Member is in default. The failure of the Member to timely cure such default provided that this agreement shall not be deemed to provide any additional right to cure that would not otherwise be available to the Member shall be deemed the resignation of such Member, which shall be effective on the date of the hearing and immediately prior to the convening of the Board for the hearing, and the matter shall be deemed closed.

      The hearing shall be limited to (a) the establishment, to the satisfaction of Forbes, of the conduct believed to constitute cause, (b) a statement of the Member (and of such other persons, reasonable in number, as may be presented at the hearing by such Member) in explanation or in mitigation of the conduct alleged to constitute cause, and (c) a final determination by Forbes.

      Forbes's failure for any reason to enforce any term, provision, or condition hereof on any one occasion shall not constitute its waiver of the right to enforce such term, provision, or condition in the future. The exercise by Forbes of any right or remedy available to it hereunder or pursuant to applicable law shall not preclude the exercise by Forbes of any other rights or remedies.

4. Assignment. Member may not assign all or any portion of his or her rights or obligations hereunder. By way of example, if a husband and wife join the Club together as a Member, their purchase from a Developer must also be joint as husband and wife in order to receive the benefits of Club Membership. Member acknowledges that Forbes may assign all or any portion of its rights and/or obligations hereunder to a third party.
5. Member's Acknowledgment. Member understands and acknowledges the following:
   1. The Membership Fee is a one-time fee, which is nonrefundable except in the limited circumstance described in Section 2, above.
   2. Membership in the Club does not give Member any interest in Forbes nor in any affiliate of Forbes. Membership is not an interest in real estate.
   3. Forbes is not a real estate developer and the properties to which Member will be introduced and with respect to which offers for sale may be made to Member are not owned or developed by Forbes but may be owned and developed by one or more affiliates of Forbes (the "Developer").
   4. Oral representations cannot be relied upon as stating the representations of the Developer. For correct representations, make reference to the purchase agreement and to the documents to be furnished by the Developer. Prices and specifications are subject to change without notice.
   5. The photographs contained in the Forbes VIP Club brochure are merely intended as illustrations of the activities, interiors and concepts depicted herein. Interior photographs are not necessarily intended to depict the actual interiors and are subject to change, furnishings, furniture, accessories, fixtures, floor coverings, wall coverings, window treatments, and appliances installed or displayed in the sales presentation center and model homes are shown for marketing purposes only, and shall not be included in the sale of a residence unless specifically provided for in the purchase contract.
   6. All real estate purchase transactions which may be made by member are subject to compliance with applicable laws, regulations, rules and permit and licensing requirements at the time of and in connection with the offering such purchase opportunities.
   7. Forbes reserves the right to implement a lottery or other priority system as deemed necessary or desirable in Forbes's sole discretion to facilitate the availability of units within the Properties for purchase by the Members.
6. Miscellaneous. This Agreement shall be governed by and construed in accordance with the laws of the State of Florida. The captions used in this Agreement are for informational purposes only and do not amplify or limit in any way the provisions hereof. The provisions hereof shall be deemed independent and severable, and the invalidity of any one provision or portion thereof shall not affect the validity or enforceability of any other provision hereof. This Agreement and the conditions and covenants herein set forth shall be binding upon and inure to the benefit of the parties hereto, their respective heirs, successors, permitted assigns, and personal representatives. Member and Forbes agree that this Agreement is the only agreement, whether oral or written, between them related to the subject matter hereof.

   EXHIBIT "A" TO Forbes VIP MEMBERSHIP AGREEMENT

   List of Available Privileges and Benefits

   1. Access to sales opportunities prior to grand opening weekends at participating properties
   2. Priority selection of floor plans and locations at discounted prices
   3. Up to $1,000 (credited at closing) for travel and related expenses to the VIP Club purchasing event* (Fly and Buy Program)*
   4. 1% percent discount off initial public pricing for every purchase at the VIP event**
   5. The opportunity to purchase multiple residences at each participating property
   6. Personalized service with a dedicated Forbes Property Concierge
   7. Monthly Newsletters providing breaking news and events.

* Requires closed escrow and transfer of title. $1,000 will be credited to Member at closing.

** If Member negotiates a purchase price that is less than 99% of the initial public pricing for any purchase, the negotiated discount shall be the sole discount available to Member and the 1% discount shall be inapplicable.