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TABLE OF CONTENTS <br />(continued) <br />Page(s) <br />9.1 Lessee's Maintenance of Records .......~ ..................... 12 <br />9.2 Lessor's Right to Audit .................................... 13 <br />10. TAXES ...................................................... 13 <br />10.1 Real Property Taxes ...................................... 13 <br />10.2 Definition of Real Property Taxes ........................... 13 <br />10.3 Other Taxes ............................................ 13 <br />11. UTILITIES . ................................................. 14 <br />12. PRORATION OF INCOME AND EXPENSES ....................... 14 <br />13. RENOVATION AND CAPITAL IMPROVEMENTS . ................. 14 <br />13.1 Renovation of Golf Course ................................. 14 <br />13.2 No Obligation to Exceed Budget ............................. 15 <br />13.3 Commencement of Renovation ............................. 15 <br />13.4 Manner of Performance ................................... 15 <br />13.5 Lessor's Obligation ....................................... 16 <br />13.6 Completion ............................................ 16 <br />13.7 Security ............................................... 16 <br />I3.8 Ownership of Improvements; No Liens ....................... 16 <br />13.9 Establishment of Capital Improvement Fund ................... 16 <br />13.10 CIP Budget and Expenditures .............................. 17 <br />13.11 Other Capital Improvement Projects ......................... 17 <br />13.12 Closure ............................................... 17 <br />14. MAINTENANCE AND REPAIRS . ............................... 17 <br />14.1 Lessee's Obligations ...................................... 17 <br />14.2 Lessor's Representation Regarding Code Compliance ............. 18 <br />14.3 Lessor's Environmental Obligations .......................... I8 <br />15. LESSOR'S COOPERATION. ................................... 19 <br />16. INSURANCE. .............................................. 19 <br />16.1 Liability Insurance ....................................... 19 <br />16.2 Worker's Compensation ................................... 19 <br />ii <br />