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subject to ce~rtain options by the remaining parties to the Joint <br />Venture to participate in the ownership of expanded clubhouse <br />faci]ities. <br /> <br /> B. The remaining single family development would be <br />controlled by Thomas and Paula Anderson and Berglund &Dorn, to <br />be developed in accordance with the Planned Unit Development <br />Plan. The multiple family outlot will be controlled by John <br />Berglund and Wilbur Dom, to be held for future development. The <br />rural commercial area adjacent to trunk highway 47 will be owned <br />and controlled by Thomas and Paula Anderson, for immediate <br />development. <br /> <br /> The Plan~ed Unit Development would proceed in four basic <br />phases. The ~ates noted below are approximately only, and might <br />be influenced by numerous factors, such as market conditions, <br /> <br />interest rates[, usages of adjacent land, and the like. <br /> A. Phase~ 1 - Golf Course Development. <br /> <br /> Construction will begin as soon as possible on grading and <br />seeding operations for the golf course portion. The golf course <br />itself is an 18-hole, regulation length facility. The driving <br />range will also be included on the premises. Included in with <br />initial development would be the construction of a modest <br />clubhouse facility with snack bar. There wil~% also likely be an <br />outbuilding in which to store power carts. <br /> <br /> The golf aourse design is under the direction of Joel <br />Goldstrand, currently the club professional at the Minneapolis <br />Golf Club, and a former member of the PGA Pro Tour. <br /> <br />4 <br /> <br /> <br />