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5. Costs. Owner shall pay all of the costs necessary to operate the premises pursuant to Paragraph 1 of this Agreement. Contractor shall collect and retain all fees from the rental of golf carts, the use of the golf driving range, and any golf instruction or golf lessons conducted at the two golf courses or driving range. Prior to August 15, 1997, Owner and Contractor shall open a joint bank account that shall require a signature of Contractor and a representative of Owner for all transactions ("Joint Account"). All expenditures for operation of the golf course, pro shop and other services listed in Paragraph 1 of this Agreement shall be made out of the Joint Account. Contractor shall not expend any funds from the Joint Account without authorization from the designated representative of Owner. Owner shall provide Contractor with the name of the designated representative by August 15, 1997. If the designated representative changes, Owner shall provide Contractor with written notice of such change within 24 hours. Owner and Owner's representative shall not unreasonably withhold authorization for the expenditure of funds from the Joint Account for expenses reasonably necessary to operate the premises as set forth in Paragraph 1 of this Agreement. 6. Liability. Contractor shall take all precautions necessary for the safety of and prevention of damage to property on or adjacent to the worksite, and for the safety of and prevention of injury to persons, including Owner's employees, Contractor's employees, and third persons, on or adjacent to the work site. All work shall be performed entirely at Contractor's risk. Contractor agrees to carry, for the duration of this contract, public liability insurance in an amount, and with an insurer acceptable to Owner. 7. Business Ethics. Contractor shall strictly comply with all city, county, state and federal laws, ordinances and regulations applicable to and governing this operation, and shall procure all necessary licenses and permits, which are to be displayed in an appropriate part of the premises. 8. Contractor's Conduct of Business. (a) Contractor covenants and agrees that, continuously and uninterruptedly, it will operate and conduct within the premises the business activities and provide the services described herein, except while the premises are unusable by reason of fire or other casualty, and that it will at all times keep and maintain within and upon the premises adequate supplies, personal property, and trade fixtures, and adequate personnel to service and supply the usual and ordinary demands and requirements of its customers and those who patronize the golf course and that it will keep its premises in a neat, clean and orderly condition. EXHIBIT C - PERSONAL SERVICES AGREEMENT PAGE 2 REV 6/27/97