How much can dues increase annually?
Commencing on the date that all of the Club facilities listed in the Membership Plan have been completed and are ready for use by Members of the Club, annual increases in dues will be limited to the greater of the following: a) Eight percent (8%) per annum of the annual dues; or b) The annual percentage increase reflected in the most recently-published Consumer Price Index (as defined in the Membership Plan) applied against the prior year’s dues. c) Dues may be increased in any year by a greater amount as determined by a qualified, independent third party chosen by Talisker Club in the event the Talisker Club determines that the increase that would result from the application of the provisions of (a) or (b) above would be inadequate to meet the expenses and objectives of the Club. The qualified, independent third party will make such determination based on the projected total Club operating costs, depreciation, reserves and payment of a management fee within the range of management fee
