PELICAN ISLE YACHT CLUB IS A NON-FOR-PROFIT CORPORATION UNDER CHAPTER 617 OF THE LAW OF THE STATE OF FLORIDA. THE SPECIFIC PURPOSE OF THE CLUB IS TO OWN AND OPERATE A PRIVATE YACHTING AND SOCIAL CLUB FOR THE PURPOSE OF PROVIDING DINING, MARINA AND OTHER FACILITIES FOR THE BENEFIT AND ENJOYMENT OF ITS MEMBERS, THEIR FAMILIES AND THEIR GUESTS.