Member Information _

Member Information _  Palazzo Tornabuoni is not owned, developed or sold by Four Seasons Hotels Limited or its affiliates. Tornabuoni S.R.L. uses t...
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Member Information _ 

Palazzo Tornabuoni is not owned, developed or sold by Four Seasons Hotels Limited or its affiliates. Tornabuoni S.R.L. uses the Four Seasons trademarks and tradenames under a license from Four Seasons Hotels and Resorts B.V. The marks “FOUR SEASONS,” “FOUR SEASONS HOTELS AND RESORTS,” any combination thereof are registered trademarks of Four Seasons Hotels Limited in Canada and U.S.A. and of Four Seasons Hotels (Barbados) Ltd. elsewhere.

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Palazzo Tornabuoni is an exclusive Private Residence Club occupying a 15th-century Palace supremely located in the heart of Florence, Italy. Once home to Pope Leo XI and the powerful Medici family, the Palazzo is now being lovingly restored to its original Renaissance-era splendor and enhanced with modern comforts and conveniences. The completed Club will feature up to 36 elegant Residences—available in studio, one-bedroom, and twobedroom/three-bedroom Membership options—and an array of on-site amenities.

Coveted Location: Palazzo Tornabuoni is ideally located in the heart of Florence, on the Golden Cross of via Tornabuoni and via Strozzi. You are within walking distance of world-famous sites, including the Duomo, the Ponte Vecchio and the Uffizi. Florence is the ideal hub for exploring all the wonders of Tuscany, Italy and all of Europe.

Overview

Amenities and Services

Private Club Room: Stunning 30-foot ceilings with wood beams accent this tranquil and sumptuous room. This is the ideal gathering place for a relaxing drink, quiet conversation, planning the day, or socializing

Considered one of the most important buildings in a city famed for its architecture, the Palace fronts the famous Via Tornabuoni, one of Italy’s most historic and fashionable streets. The Palazzo Tornabuoni is across the street from the Palazzo Strozzi Museum, and is just two blocks from the Arno River, the Duomo, and Piazza della Republica. Indeed, the Palace is surrounded by all the hallmarks of the celebrated Florentine lifestyle—couture shopping, world-renowned museums and superb restaurants.

Library and Cigar Room: Relax with your favorite cigar in this handsomely appointed room which features state-ofthe-art ventilation. Here, you can enjoy the most aromatic and satisfying cigars, complemented by the finest of spirits and wines—fit for a true connoisseur. Spa and Fitness Center: Maintain your fitness program with state-of-the-art workout machines and weight equipment in this historic private facility. Here, you’ll also find a sauna and steam room, perfectly soothing after a workout or a day of exploring Florence. Additionally, Members will have access to the elegant Spa at Fours Seasons Hotel Firenze, which features an outdoor pool in one of Florence’s largest private gardens – just a short walk from the Club.

Membership in Palazzo Tornabuoni grants you access to an irreplaceable Renaissance monument and worry-free enjoyment of an opulent second home in one of the world’s most romantic cities. Your private Residence Club features captivating living spaces, exquisite décor, ancient frescoes and statuary, terrace views of the Duomo and other historic landmarks. Each time you and your guests visit, the attentive staff will warmly welcome you back to your Palace home in Florence with superior services, luxurious amenities and special lifestyle privileges.

Wine Cellar: The Mazzei family is credited with creating the Chianti appellation so it is no wonder that wine appreciation is a revered part of Membership. Members are welcome to enjoy wines from the Club’s selection, or to store favorites from their personal collection in the Palazzo’s wine cellar. The concierge is happy to deliver select vintages to your Residence upon request. Members will also have private tasting rooms at select wineries and may enjoy personal tours.

This Member Information is provided to highlight the usage options and reservation procedures and policies of Membership. Please refer to the “club Palazzo Tornabuoni legal documents” for more detailed information.

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Questions and Answers

Clothing and Equipment Storage: Some of your clothes and other personal belongings may be stored in a secure, climate-controlled area, awaiting your next visit. When you return to your Club, your belongings will be waiting for you in your luxurious Residence.

What is Palazzo Tornabuoni? Palazzo Tornabuoni is a private Residence Club. The completed Club will feature up to 36 elegant Residences— available in studio, one-bedroom, and two-bedroom/ three-bedroom Membership options—and an array of on-site amenities. Palazzo Tornabuoni is located in the historic heart of Florence, the neighborhood that hosts not only the city’s major sights such as the Uffizi, the Ponte Vecchio and the Duomo, but also Florence’s premier designer stores. Each Residence is fully furnished and exquisitely accessorized by one of Italy’s most talented designers. The Club staff ensures worry-free enjoyment of your time in Italy. Since there are only eight Memberships per Residence, you will enjoy greater flexibility and options when requesting your vacation dates.

Concierge: The Club concierge provides service far beyond arranging private airport transportation, local tours, restaurant reservations, theatre or opera tickets, and laundry or babysitting services. Your concierge is also uniquely qualified and capable of opening the doors to a privileged Florentine lifestyle—a lifestyle availed to only the most well-connected and experienced European residents and travelers. Social Privileges: Explore Florence’s most impressive museums, view private art collections and discover 500year-old walkways over the Ponte Vecchio. You and your fellow Members may also enjoy access to exclusive outings at private hunting lodges and resorts, reserved tours of local vineyards, and much more.

If I purchase at the Palazzo Tornabuoni, what do I own? Members own a transferable and willable Membership in the Club, which allows them to reserve vacations in their category every Club Year, subject to the reservation policies. Should a Member, or his or her heirs, choose to transfer their Membership at some future date any appreciation is accrued to that Member. Purchasers of a Membership are responsible for applicable taxes and/ or settlement costs associated with the transfer and a standard transfer fee is also charged by the Club for any transfer of Membership.

Pre-Arrival Grocery Shopping Service: Upon request, your favorite cheeses, Italian hams, chocolates or wines as well as the freshest fruits and vegetables of the season can be placed in your Residence kitchen just prior to your arrival. Private Staff: The Club’s staff is professional, knowledgeable, friendly, attentive and completely dedicated to ensuring that your every visit is memorable and effortless. The multi-lingual staff is also deeply ingrained in Florentine culture and will gladly offer personal insights into the treasures of Florence.

Who are the developers? Palazzo Tornabuoni is a Joint Venture between Tornabuoni S.r.l. (a limited liability company based in Florence owned by the Fingen Group) and Kitebrook Partners of Washington DC. The Fingen Group has a long tradition building international partnerships with brands including Four Seasons Hotel, McArthurGlen, Calvin Klein, Jean Paul Gautier and Guess. Founded in 1979, the Fingen Group ranks as one of the foremost companies in Tuscany with 1,600 employees worldwide. Under the development and ownership of the Fingen Group, the Four Seasons Hotel— Florence will open in Summer 2008.

Private Reception: Upon entering the majestic doors of Palazzo, you will journey up the grand staircase past a historic statue of Diana, goddess of the hunt. In the private reception area you will be greeted by name and accorded a warm and sincere welcome to your home in Florence. _ 

Kitebrook Partners is headed by Byrne Murphy, one of the founding principles of McArthurGlen Europe, where he formed the Joint Venture with Fingen Group for McArthurGlen Italia. Kitebrook Partners has over 20 years experience in American and European development projects. It is currently in a Joint Venture with The Carlyle Group in Scandinavia, and is forming a Luxembourg Private Equity Fund for investments in American properties.

— Provide the possibility to occupy Residences in one of Florence’s most important landmarks — Allow you to graciously host family and friends in one of the world’s most revered cities — Remove many of the worries and inconveniences normally associated with a luxury vacation Residence — Provide flexible vacation use — Offer an abundance of amenities and services rarely provided by a vacation home — Significantly reduce the financial burden compared to whole ownership of a vacation-home

Who will manage Palazzo Tornabuoni? Four Seasons will manage the day to day operations of the Club. Founded in 1960, Four Seasons has followed a targeted course of expansion, opening hotels in major city centres and desirable resort destinations around the world. Four Seasons is dedicated to perfecting the travel experience through continuous innovation and the highest standards of hospitality. From elegant surroundings of the finest quality, to caring, highly personalised 24-hour service, Four Seasons embodies a true home away from home for those who know and appreciate the best. The deeply instilled Four Seasons culture is personified in its employees – people who share a single focus and are inspired to offer great service.

Have luxurious Residence Clubs been developed at other prestigious resorts? Yes. Buyers at premier destinations such as Manhattan; Aspen and Vail, Colorado; Deer Valley, Utah; Napa Valley and Palm Springs, California; Cabo San Lucas, Mexico; and Tucker’s Town, Bermuda have enthusiastically embraced this innovative concept. Each of these Residence Clubs is operated much like Palazzo Tornabuoni. Similar Residence Clubs are in development in a variety of other prestigious beach, golf, mountain and urban destinations worldwide. The creators of the Residence Club concept are part of the Palazzo Tornabuoni team.

How many Memberships will be issued? Palazzo Tornabuoni will not issue more than eight Memberships for each Club Residence. There will be a maximum of 36 Residences for up to 288 Memberships, providing Club Members greater flexibility when requesting their vacation dates each year.

As a Member, how often can I vacation at Palazzo Tornabuoni? Members may reserve up to one year or as short as one day in advance, and may request as many visits as they wish, subject only to the reservation policies and availability.

Can a company or corporation own a Membership? Yes. A Membership can be held in a corporate name.

Is Palazzo Tornabuoni a typical timeshare development? No. Traditional timeshare defines ownership of a block of time in specific seasons that is often associated with a specific Residence. A private Residence Club offers Members access to all Residences in their Membership category, resulting in greater flexibility and option when requesting vacation dates each year. Members may request as many visits as they wish, subject to the reservation policies and availability.

Can more than one family or individual own a Membership? Yes. Members can form partnerships to own a Membership. What are the advantages of Palazzo Tornabuoni Membership? Palazzo Tornabuoni has been created to: — Provide unmatched Tuscan experiences _ 

What is the quality of construction, furniture and accessories at Palazzo Tornabuoni? Palazzo Tornabuoni is being restored to the highest standards, maintaining its genuine Renaissance features without compromising modern luxuries. The property is authentically and elegantly furnished with artwork from the 15th to 21st centuries and the Residences are decorated with contemporary furnishings or Tuscan country décor depending on the nature of the Residence.

Membership is similar to that of a prestigious golf Club, the key difference being that Members of Palazzo Tornabuoni reserve elegant Residences rather than tee times. How do Members reserve a Residence in their Palazzo? The reservation policies allow Members to reserve visits well in advance, while also accommodating more spontaneous visits. Each November, Members reserve their Planned Vacations for the coming year. Additional vacations may be reserved throughout the year. Members are also able to request consecutive vacations to enable longer visits, or to request multiple Residences for the same time in order to host friends and family, subject to availability.

Do Members pay annual fees? Yes. The annual Membership fees pay for the professional management and operation of all Club facilities and amenities. Included in these annual fees are funds for staff salaries, supplies, maintenance, legal/accounting, insurance, capital reserves, utilities and property taxes.

What if the number of Members wishing to stay exceeds the number of Residences available? A Rotating Priority System® was designed to determine reservation confirmations when the number of Planned Vacation reservation requests for a certain time period exceeds the number of Residences available during that time period. This system has proven to be a fair system at other Clubs for 15 years.

Who establishes the dues and controls the affairs of Palazzo Tornabuoni? A Member-elected board establishes budgets and fees on an annual basis. Day to day management of the Club will be provided by Four Seasons Hotels and Resorts. Will Palazzo Tornabuoni be open to the general public? No. The Club will not be open to the general public. When fully subscribed, the Club will be operated for the exclusive use and benefit of Members and their guests.

Will Members always stay in the same Residence? No. To provide greater flexibility, Members have access to all Club Residences of their Membership category (studio, one-bedroom, or two-bedroom/three bedroom). Special requests for a specific Residence will be granted when possible, but cannot be guaranteed

Do Members pay any fees when they stay at Palazzo Tornabuoni? Yes. Members pay a check-out cleaning fee based on the length of their stay. They also pay upon check-out for any additional a la carte services, such as spa treatments and private dinners, phone charges and any applicable taxes.

Can Members request more than one Residence during the same time period? Yes. Because Members are not restricted to a particular Residence, they can request more than one Residence in their Membership category at any given time. Such requests will be granted subject to availability.

If I become a Member, when may I begin enjoying vacations at Palazzo Tornabuoni? Club Residences are scheduled for occupancy late 2008.

Do Members have guest privileges? Yes. Members may invite guests to stay with them during their vacations and they may also invite unaccompanied guests to use any of their confirmed vacations without a guest fee. _ 

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Reservation Privileges

Club Year: The Club Year begins April 1st and ends March 31st.

Club Members at Palazzo Tornabuoni have access to Residences in their Membership category (studio, onebedroom, and two-bedroom/three-bedroom). Members can lodge at the Club during “Planned Vacations,” “Space Available Vacations” and “Short Notice Vacations.” These usage options are described below.

Day Use Guest: The guest of a Member who utilizes Palazzo Tornabuoni’s non-lodging facilities on a daily basis. A Member must accompany the Day Use Guest. Club Management may limit the number of Day Use Guests permitted on the premises during high occupancy periods.

The Reservation Privileges were carefully formulated in an attempt to be fair and equitable to all Members. Club management reserves, the right to alter these Reservation Privileges from time to time as conditions warrant, as permitted in the Club documents. Changes that intentionally discriminate against any category of Membership are not permitted. There is no limit to the number of vacation days that can be reserved by Members each year, subject to reservation policies and availability.

Designated Member: The person designated, in writing for each Membership, who may submit Planned Vacation, Space Available Vacation and Short Notice Vacation requests. In cases where a Membership is owned by more than one person or family or other entity, only the appointed Designated Member may submit reservation requests. Member or Club Member: The physical person or the company or any other legal entity in the name of which a Membership is issued by the Club.

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Definitions

Membership: A Membership provides lodging privileges, services and amenities for a particular Residence category. There will be a maximum of eight Memberships issued for each Residence, and Members have access to all Club Residences of their Membership category (studio, one-bedroom, or two-bedroom/three bedroom). Special requests for a specific Residence will be granted when possible, but cannot be guaranteed.

Certain terms and phrases have been defined below to clarify their intended meaning and usage. Throughout the following policies and procedures, these terms and phrases can be identified because they begin with capital letters. Accompanied Guest: Any guest who lodges with a Member in the Member’s reserved Residence. The total number of persons lodged in a Residence cannot exceed the Sleeping Capacity of that Residence. No additional fees are charged for Accompanied Guests.

Planned Vacations: Planned Vacations are the 21 days that Members may reserve in advance each Club Year. Members may reserve 21 days of Planned Vacations each Club Year within his or her particular category. Planned Vacations have a Saturday check-in and can be a maximum 14 consecutive days in length.

Residence: A Residence is an apartment in Palazzo Tornabuoni the use of which is shared by the Members Club: Palazzo Tornabuoni, the private Residence Club located in Florence, Italy.

Reservation Priority Number: Reservation Priority Numbers are used by Club Management to allocate Planned Vacations and Space Available Vacations (submitted between January 15th and January 22) for Members when

Club Management: Four Seasons – The Company selected to manage the day to day operations of the Club. _ 

Unaccompanied Guest: Any guest who lodges in a Residence without a Member during a Member’s reserved Planned Vacation, Space Available Vacation or Short Notice Vacation.

demand exceeds lodging supply. A Member’s Reservation Priority Number is determined based on the Member’s original Membership number (assigned at closing) and the priority number assigned to a given week during a Club Year.

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Reservation Procedures

Rotating Priority System®: The Rotating Priority System is used to determine reservation confirmations when the number of Planned Vacation reservation requests for a certain time period exceeds the number of Residences available during that time period. It is also used to allocate Space Available Vacation reservation requests submitted between January 15th and January 22. (Described in Reservation Procedures on the following pages)

Each Member can reserve in advance up to three (3) Planned Vacations, one of which can be up to 14 days during the Club Year, provided that the total number of Planned Vacation days does not exceed 21 days. Additional visits can be reserved as Space Available and Short Notice Vacations. Members may request any number of visits to the Club. All Members have access to all Residences of their Membership category on an annual basis.

Short Notice Vacations: Short Notice Vacations may be requested within the Member’s category up to 14 days ahead of time. Members or Unaccompanied Guests may occupy a Residence during confirmed Short Notice Vacations for periods up to seven (7) days per reservation. Members may request any number of Short Notice Vacations during a Club Year, but may have no more than one Short Notice Vacation reservation on the books at one time.

Planned Vacations By November 1st of each year, the Designated Member for each Membership is sent a Planned Vacation reservation form to request their 21 days of Planned Vacations for the upcoming Club Year. A Planned Vacation can be a maximum of 14 consecutive days. If the Member does not receive the Planned Vacation reservation form by November 15th, the Member should immediately notify Club Management.

Sleeping Capacity: The maximum number of persons permitted to lodge in a Residence. The Sleeping Capacity of a Residence is the number of bedrooms times two plus the number of sleeper sofas times two.

By December 1st of each year, all Planned Vacation reservation forms must be received by Club Management. It is the Designated Member’s responsibility to complete and return the Planned Vacation reservation form by the deadline to preserve priority rights for the upcoming Club Year. Planned Vacation reservation forms received after December 1st will be considered on a first-come, first-served basis after the Planned Vacation reservation request forms that were received in a timely manner have been processed.

Space Available Vacations: Beginning January 15th, Members may request Space Available Vacations within the Member’s category, subject to availability. Members or Unaccompanied Guests can occupy a Residence during confirmed Space Available Vacations for periods of up to seven (7) days per reservation. Members may request any number of Space Available Vacations during a Club Year, but may have no more than one Space Available Vacation reservation on the books at a time.

After December 1st, Club Management allocates the Planned Vacations in the following manner:

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First Planned Vacation: Members are confirmed for a maximum of 14 days based on their requests. When demand for certain dates exceeds lodging supply, Members with the lowest Reservation Priority Numbers will be confirmed

After January 22nd, Club Management will process all Space Available Vacation reservation requests on a firstcome, first-served basis. Beginning March 15th, Club Management will confirm Short Notice Vacation requests on a first-come, firstserved basis.

Second Planned Vacation: After the First Planned Vacations are confirmed for Members, Members are confirmed for a Second Planned Vacation, the length of which may be the lesser of the balance of their allocated 21 Planned Vacation days or 14 days. When demand for certain dates exceeds lodging supply, Members with the highest Reservation Priority Numbers will be confirmed.

Cancellation In the event a Member wishes to cancel a Planned Vacation reservation, Club Management must receive that request of cancellation at least 14 days prior to the scheduled arrival, in order for the Member to retain the usage rights associated with the cancelled Planned Vacation dates. If the notice of cancellation is not received at least 14 days prior to the scheduled arrival (Failed Reservation), Club Management will deem all of the Planned Vacation days for which proper cancellation notice was not received, to have been used.

Third Planned Vacation: After the First and Second Planned Vacations are confirmed for Members, Members can be confirmed for a Third Planned Vacation, the length of which may be the lesser of the balance of their allocated 21 Planned Vacation days or 14 days. When demand for certain dates exceeds lodging supply, Members with the lowest Reservation Priority Numbers will be confirmed.

If a Member or Unaccompanied Guest fails to cancel a Space Available Vacation reservation at least 48 hours prior to scheduled arrival (“Failed Space Available Vacation”), that Member will be prohibited from making another Space Available or Short Notice Vacation reservation for a period of 30 days from the scheduled departure date of the Failed Space Available Vacation.

Confirmation By December 15th, written confirmation of the Planned Vacations is sent to each Member. Members who reserved less than 21 days of Planned Vacations or whose Planned Vacation reservation forms were not received by the December 1 deadline will then have the opportunity to make additional reservation requests after December 15th on a first-come, first-served basis.

If a Member or Unaccompanied Guest fails to cancel a Short Notice Vacation reservation at least 24 hours prior to scheduled arrival (“Failed Short Notice Vacation”), that Member will be prohibited from making another Space Available or Short Notice Reservation for a period of 30 days from the scheduled departure date of the Failed Short Notice Reservation.

Beginning January 15th, Members may make Space Available Reservations for the upcoming Club Year. Processing of Space Available Vacation requests will take place during the week between January 15th and January 22nd. If Space Available Vacation requests received between January 15th and 22nd for available dates exceed supply, Members with the highest Reservation Priority Numbers will be confirmed.

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Additional Policies Day Use: Members and their Accompanied Guests have unlimited use of Palazzo Tornabuoni’s common facilities. Day Use is subject to availability and priority usage rights are granted to Members and/or guests lodging at Palazzo Tornabuoni. Members should contact Club Management prior to the intended day of use to assess availability of facilities. Members and their guests must check in daily with Club Management to register for Day Use. Club Management has the right to limit the number of guests accompanying a Member for Day Use.

Borrowing and Carry-Over: Members cannot borrow Planned Vacations from future Club Years, and cannot carry over unused Planned Vacations to future Club Years. __

Key Dates November 1st: Planned Vacation reservation forms are sent to Designated Members. December 1st: Completed Planned Vacation reservation forms must be received by Club Management.

Use Restrictions: Members are prohibited from renting Club vacations of any type and from using confirmed vacations of any type for commercial purposes. Club Management has the right to suspend Reservation Privileges of any Member who is more than 60 days in arrears in the payment of maintenance fees.

December 15th: Club Management sends written confirmation of Planned Vacation dates. January 15th: Members may begin requesting Space Available Vacations for the upcoming Club Year that begins April 1st.

Exchanging Planned Vacations: With notification of the Club Manager, Members may exchange their confirmed Planned Vacations or portions thereof with other Members.

March 16th: Members may begin requesting Short Notice Vacations for the upcoming Club Year that begins April 1st.

Unaccompanied Guest Information: A Member requesting lodging for an Unaccompanied Guest must specify in writing to Club Management the Unaccompanied Guest’s name, address and phone number in advance of arrival so that Club Management can send a confirmation notice to the Unaccompanied Guest. Unaccompanied Guests are required to pay all checkout fees and incidental charges upon check-out unless payment has been arranged in advance in writing by the sponsoring Member with Club Management. The Member is responsible for any unpaid charges incurred by their Unaccompanied Guests and is responsible for any damages to Residences or Club facilities caused by their Unaccompanied Guests. The number of persons lodged with an Unaccompanied Guests in a Residence cannot exceed Sleeping Capacity of that Residence.

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Via Tornabuoni, 16 – 50123 Firenze, Italy US +1 866 753 6667, UK +44 0870 6098 555, Italy +39 055 268 966 www.palazzotornabuoni.com _ 12