Page 17 - 2017 Club Rules and Regulations

established by the Club. Social Membership enables the Social Member to use all of the facilities of the
Clubhouse, and of the pool and Pool Area, Fitness Center, and of any Tennis Facilities, fishing and includes
the areas which are set aside exclusively for the use of Premium Members, but subject to the payment of
the initiation fees, membership dues, all other applicable use fees, assessments, Club Account balances, and
any other charges which the Company sets for Social Members and may change from time to time.

c. Subcategories of Premium or Social Members:

1. Premium Non-Resident Members – To qualify for this category individuals must
not own a place of business or a home within an eighty (80) mile radius of Sheridan, WY. Premium
Non-Resident Members have rights to the same Membership benefits as listed for Premium
Members. Club Members are responsible for paying all initiation fees, membership dues, golf cart
fees, all other applicable use fees, assessments, Club Account balances, and any other charges
which the Club requires the Premium Non-Resident Member to pay. Non-Resident Members shall
be required to pay approximately one-half (1/2) the amount of Membership dues that are charged
for a Full Membership.

2. Premium Graduate Members – This category is offered to Members who are
under the age of forty (40). Premium Graduate Members will pay one half (1/2) of the current
monthly dues until the oldest person in the family turns forty (40). Once the oldest member of the
family turns forty (40) Membership dues raise to the current Premium rate. Club Members have
rights to the same Membership benefits as listed for Premium Members. Club Members are
responsible for paying all initiation fees, membership dues, golf cart fees, all other applicable use
fees, assessments, Club Account balances, and any other charges which the Club requires the
Premium Graduate Member to pay.

3. Social Non-Resident Members – To qualify for this category individuals must
not own a place of business or a home with in an eighty (80) mile radius of Sheridan, WY. Premium
Non-Resident Members have rights to the same Membership benefits as listed for Social Members.
Club Members are responsible for paying all initiation fees, membership dues, golf cart fees, all
other applicable use fees, assessments, Club Account balances, and any other charges which the
Club requires the Social Non-Resident Member to pay. Non-Resident Members shall be required
to pay approximately one-half (1/2) the amount of Membership dues that are charged for a Social
Membership.

4. Social Graduate Members – This category is offered to Members who are under
the age of forty (40). Social Graduate Members will pay one half (1/2) of the current monthly dues
until the oldest person in the family turns forty (40). When the oldest person in the family turns
forty (40) Membership dues raise to the current regular Social rate. Club Members have rights to
the same Membership benefits as listed for Social Members. Club Members are responsible for
paying all initiation fees, membership dues, golf cart fees, all other applicable use fees, assessments,
Club Account balances, and any other charges which the Club requires the Social Graduate Member
to pay.

d. Fitness Members. Participation in the category of Fitness Membership is pre-conditioned
upon, is limited to, and is associated with the purchase and ownership of at least one residential lot in the
Powder Horn Ranch Planned Unit Development, or in the Powder Horn Ranch II Planned Unit
Development. Fitness Membership enables the Fitness Member to use all of the facilities of the Clubhouse,
and of the pool, and Pool Area, Fitness Center, and of any Tennis Facilities, including the areas in those
facilities which are set aside exclusively for the use of Members, but subject to the payment of the initiation
fees, membership dues, all other applicable use fees, assessments, Club Account balances, and any other

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