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Vessels are owned and titled to Recreational Marine Company, LLC 1

BOAT CLUB MEMBERSHIP AGREEMENT

RENTAL CONTRACT – N. LAKE UNION

*All requested information is required:

Date of Agreement: / /

Commencement Date: / /

Termination Date: / /

LAST NAME (please print) FIRST NAME

Address

City State Zip Code

Home Telephone Work Telephone Mobile

E-MAIL ADDRESS


Monthly Membership:

Annual Program Fee:

Total Lease Amount:

WEEKDAY

$250.00/mo.plus sales tax

$1,450.00 plus

sales tax

$4,450.00 plus

sales tax

SINGLE


$1,750.00 plus

sales tax

$6,550.00 plus

sales tax

SHARED


$2,995.00 plus

sales tax

$10,015.00 plus

sales tax

FAMILY


$2,350.00 plus

sales tax

$7,930.00 plus

sales tax

BOAT CLUB VESSEL DESCRIPTION: Various 22’ Cobalt Runabout Boats, 22’ Malibu Sport Boats and 22’ Barletta Pontoon Boats - each rated for up to 11 persons or a Maximum of 1,695 lbs. load capacity. Vessels are owned and titled to Recreational Marine Company, LLC.

BOAT CLUB MEMBERSHIP AGREEMENT

RENTAL CONTRACT – N. LAKE UNION

This Boat Club Membership Agreement is made as of the date of (date of agreement) between SEATTLE BOAT CO. (hereinafter called “SBC”) and (hereinafter called “Boat Club Member”). SBC and the Boat Club Member agree as follows:

1. SBC does hereby authorize and permit Boat Club Member the right to use, consistent with theterms and conditions of this Boat Club Membership Agreement and pursuant to Seattle BoatCo.’s reservation system then in place, the boat club vessels indicated above at SBC’s place ofbusiness at Seattle, King County, Washington commonly known as “Seattle Boat Co.” for aterm of ONE YEAR (twelve consecutive months) from the Commencement Date to theTermination Date shown above.

2. SBC shall provide boat club vessels at a minimum ratio of 1.42 reservations per week per BoatClub Member. SBC shall provide scheduled routine maintenance per the manufacturer’sguidelines, moorage and storage for each boat club vessel during the term of this contract.

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3. SBC shall acquire and Boat Club Members and Operators must be accepted for an insurancepolicy for the boat club vessels from a highly rated insurance company providing PHYSICALDAMAGE coverage subject to deductibles and limitations. Each Boat Club Member shall reviewthe insurance policy and should seek professional and legal advice in such review. Upon signingthis contract, the Boat Club Member accepts the limitations of the insurance policy andacknowledges the risks to his estate.

a) Boat Club Members and Operators must be accepted by the insurance company prior to BoatClub Membership admittance. The insurer requires the completion of a Resume of PersonalBoating Experience and a Motor Vehicle Record report, which in the insurer’s sole discretion,may accept or deny the Boat Club Member or Operator insurance coverage. Boat Club Membersand Operators must remain eligible for Boat Club insurance coverage throughout the term ofthis agreement and prior to any boat club vessel use.

4. Access to and use of boat club vessels by Boat Club Member is expressly limited and is subject tothe terms and conditions of this Agreement. Each Boat Club Membership, regardless of Membership Plan Type, is allowed a maximum of one confirmed advance reservations at any one time on a first come, first serve basis. Each reservation additionally limits the use of boat club vessels to a specified time allowance which may change from time to time and is typically a five (5) hour time block.

a) Access to boat club vessels by Boat Club Member for same day UNRESERVED time slots willbe available on a first come, first serve basis without affecting the Member’s advance reservation.

b) Access to boat club vessels by Boat Club Member on specific Holiday and Event dates Such asJuly 4 and Seafair) may be limited and reservations may be allocated based on a Member’s tenureor rotating schedule and is solely subject to SBC’s policy and determination.

5. Boat Club Member shall pay to SBC, on the first day of each month in advance, during the termof this agreement, the rental shown above. If any amount due SBC is not paid within 5 (five)days following the due date, SBC shall increase the amount due by 10%. If any amount due SBCis not paid within ten (10) days following the initial due date, SBC is authorized to cancelforthwith this Boat Club Membership Agreement for non-payment, and Boat Club Member isliable for payment in full of all accounts due to SBC including the balance of the contract andany legal fees incurred.

6. All Boat Club Membership agreements that are initiated after the first day of the month will beprorated on the number of days for that month. Any Boat Club Membership agreementterminated after the first day of the month will be responsible for the total months of the BoatClub Membership and Rental Contract, with no prorating. The Annual Program Fee is notprorated and is payable in full on the date of signing of this agreement.

7. No Boat Club Membership Agreement may be subleased or otherwise assigned.

8. NO COMMERCIAL USE is authorized. Members cannot charge people for rides on the boat(splitting costs among friends is not considered commercial use).

9. Boat Club Members must be twenty-five (25) years of age or older.


10. Boat Club Member may park in the SkyLaunch parking lot. Boat Club Member vehicles mustdisplay the provided FunShare parking pass.

11. Boat Club Members and AUTHORIZED VESSEL OPERATORS must have in theirpossession a Washington State Boater’s Education Card and must receive proper TRAININGthrough SBC staff prior to launch. AUTHORIZED VESSEL OPERATORS must be 18 years ofage or greater and have a valid Washington State Driver’s License and must first be accepted bythe insurance company.

12. Boat Club Members shall keep the boat club vessels in a safe and seaworthy condition whileoperating the vessels. It is important Boat Club Members treat the boat and equipment as if itwere their own assuring all members an enjoyable experience.

13. Boat Club Members shall not operate or permit the operation of the boat club vessels outside theOperational Area (within Lake Washington, Lake Union, the Lake Washington Ship Canal andthe Puget Sound within 15 nautical miles of the Shilshole Bay Marina) or in excess of theestablished speed limit and shall not violate other safety rules established by SBC or the City ofSeattle, U.S. Coast Guard, State of Washington or any other jurisdictional authority. Boat ClubMembers shall at all times comply with all marine rules of the road, safety requirements, and allother applicable laws governing operation of a boat.

14. Boat Club Members are responsible to inspect and examine the boat club vessel prior to launchor any activity aboard the boat club vessels and upon boarding the boat club vessels he/she fullyaccepts the condition of the vessel. The Boat Club Member is responsible for proper safetyequipment INCLUDING Coast Guard Approved flotation devices for every member aboard theboat club vessel, plus any other required safety device.

15. Boat Club Members are entirely responsible for their guests and occupants while aboard boatclub vessels. DO NOT EXCEED PUBLISHED LOAD CAPACITIES at any time.

16. Boat Club Members are responsible for all costs of fuel of which cost and volume may beaveraged by hours of use and billed to direct payment account per MEMBER.

17. Boat Club Members must limit the activities while aboard the boat club vessels to cruising,water skiing, wake boarding, wake surfing and inner tubing, or, if swimming only, while atanchor with engine off. While accessing the swim platform or at any time in the water and nearthe boat, the ENGINE MUST BE TURNED OFF. SCUBA DIVING is expressly NOTALLOWED while aboard the boat club vessels. Any other activity not listed above must receivewritten permission by SBC staff prior to launch.

18. Boat Club Members are responsible for any damage which they cause to boat club vessels or anyother persons or property as determined by applicable law. The Boat Club Member is responsiblefor the physical damage during their rental period and is responsible for all damages and for theentire insurance deductible, up to $2,500 (two thousand five hundred dollars) per occurrence.(See additional regarding insurance above.)

19. Boat Club Members are responsible to inspect the boat club vessel prior to launch for any damageand immediately report said damage to SBC staff.


20. ASSUMPTION OF RISK. SBC shall not be liable for any personal injury sustained by anyBoat Club Member, his or her family, guests, visitors or agents while operating any of the boatclub vessels or upon any of SBC premises, including docks, piers and walkways. Boat ClubMember expressly agrees, on behalf himself or herself, his or her family, guests, visitors oragents, that by using the boat club vessels and SBC premises, he or she does so at his or her ownrisk and that he or she, and each of his or her family, guests, visitors or agents, accepts as his orher own those risks and hazards related to all boating activities and marina area property oractivities.

21. Disorderly or indecorous conduct by the Boat Club Member, or their family, guests or visitorswhich, as determined by and in the sole discretion of SBC, may result in injury to any person,cause damage to the property of boat club vessels and SBC, it’s customers, employees or otherBoat Club Members, or, through the actions of the aforementioned parties, harm the reputationof SBC shall be cause for immediate cancellation of this Boat Club Membership Agreement.

22. It is mutually agreed that when SBC accepts a Member for Boat Club Membership, that SBCshall not be held liable in any manner and in no way be responsible to Boat Club Member forloss by fire, theft, storm, act of God, or any other damage or loss for any cause whatsoever toBoat Club Member’s future rental periods or for personal items attached to or stored in boat clubvessels. It is expressly agreed to by the Boat Club Member that he or she, in his or her solediscretion, may and does decide that the presence of his or her person or property at the marinaand within any boat club vessel is evidence of his or her assuming the risk of any and all suchlosses.

23. Should a boat club vessel be caused to be out of duty for any reason other than general servicingand for greater than seven (7) calendar days and as such does impact the rental period for anyMember during the dates of this AGREEMENT, the maximum reimbursement to the Memberaffected shall be the prorated amount of the monthly Membership Rental Rate limited to thedaily period which the boat club vessel was caused to be out of duty.

24. There is no carryover of this agreement past the termination date and there shall be no renewalof the Boat Club Membership Agreement by operation of law.

25. Should this Boat Club Membership Agreement be canceled for any reason, SBC shall have theright to remove Boat Club Member’s personal property from boat club vessels or that of anySBC facility. Said removal shall be at the expense of the Boat Club Member. During any saidremoval, SBC shall not be liable to the Boat Club Member for any damages to said personalproperty attached thereto or stored in the boat.

26. SBC is hereby requested and authorized, but not obligated, to take such steps as may be deemedadvisable in the interest of the Boat Club Member in moving the boat club vessels from theabove specified Boat Club Membership space if SBC deems it desirable under emergency orother unusual conditions to take such action either to protect or prevent damage to the boat orother surrounding craft or property. It is expressly understood that SBC shall not be responsiblefor any damage occurring as a result of this gratuitous action.

27. This Boat Club Membership Agreement will terminate on its “Termination Date” as providedabove unless otherwise terminated as provided herein or by the mutual acknowledgment of SBCand Boat Club Member.


28. Boat Club Member is required to display ropes and 4 fenders so that the boat club vessel will notbe damaged when it is docked or awaiting pick-up or retrieval. Boat Club Member must displayall 4 fenders if the boat club vessel is left at the dock after hours. Boat Club Member is required toinstall cover over boat club vessel upon returning after hours or upon the final rental period of theday.

29. Boat Club Member agrees to maintain continuous insurability during the full period of thisagreement and agrees to immediately notify SBC if there is any reason his insurability statusmay be compromised.

30. Boat Club Member agrees to pay monthly lease cost by Automatic Clearing House (ACH),Direct Payment Method on the first day of each month in advance. A 3% processing fee will beadded to all Charges to Automatic Debit, Visa, MasterCard or American Express.

ADDITIONAL TERMS, RULES AND POLICIES

31. RESPONSIBILITY. SBC is not responsible for loss of running time due to weather, latearrivals, illness, accidents or mechanical failure. Boat Club Member shall not use the boat clubvessel in a careless or negligent manner, in an unlawful manner or for an unlawful purpose, orallow any person under the influence of alcohol, drugs or a controlled substance to operate theboat club vessel. Furthermore, Boat Club Member shall at all times exercise caution for safety ofthe occupants in the boat club vessels and shall abide by all applicable federal, state, and locallaws and regulations relating to the use of the boat club vessels. The Boat Club Member isresponsible for educating himself/herself and his or her drivers as to any and all laws andregulations that apply to the operation and use of the boat club vessels and rental equipment.Boat Club Member acknowledges that SBC provides the boat club vessels and equipment onlyand does not provide consulting, advice, expertise, or opinions as to the proper control andoperation of the boat club vessels or compliance with the applicable laws or regulations.

32. SAFE OPERATION. Boat Club Member acknowledges he has been instructed in the properand safe operation of the boat club vessels by SBC. Boat Club Member acknowledgesresponsibility for the safe and proper behavior of all occupants, and for the safety and welfare ofother boaters and persons. Boat Club Member acknowledges that SBC provides the boat clubvessels and equipment only and does not provide consulting, advice, expertise, or opinions as tothe proper control and operation of the boat club vessels or compliance with the applicable lawsor regulations.

33. ALCOHOL. It is unlawful to have open containers of alcohol in certain areas of the OperationalArea or within reach of the vessel operator, AND IS, THEREFORE, strictly prohibited. Thesewaters are tightly patrolled and protected by marine patrol units, and SBC bears noresponsibility for any law enforcement activity taken for, toward or against Boat Club Member.

34. OVERTIME. Boat Club Member must be back within fifteen (15) minutes of the end of thereservation period. Boat Club Member is not authorized to use the boat club vessels after sunsetunder any circumstances. Boat Club Member is subject to loss of future reservations if this ruleis broken.

35. ACKNOWLEDGEMENT OF RISKS. Boat Club Member acknowledges that some, but not all


of the risks of participating in water sport activities include: 1) changing water flow, currents, wave action and ships wakes; 2) collisions with other objects, including, but not limited to, other participants, other watercraft, and other manmade or natural objects in or around the water; 3) collision, capsizing, sinking or other hazards which result in wetness, injury, exposure to the elements, hypothermia, drowning and/or death; 4) attack by an encounter with insects; 5) boat club vessel malfunction or equipment failure or operator error; 6) dangers created by the Boat Club Member’s or occupants' sense of balance, physical coordination, ability to operate equipment, swimming and/or failure to following applicable rules or directions; 7) wind, inclement weather, lightning, variance and extremes of wind, weather, and temperature; 8) heat or sun related injuries or illnesses, including sunburn, sunstroke, or dehydration. Further, the undersigned understands that the description of these risks is not complete and that unknown or unanticipated risks may result in injury, illness or death.

36. ASSUMPTION OF RISKS. Boat Club Member hereby agrees that he or she is operating orusing the boat club vessels and related equipment provided by SBC at his or her own risk. Theundersigned agrees that he or she is voluntarily participating in all activities related to rentaloperation, or use of the boat club vessels and equipment. The undersigned is fully aware of andassumes the dangers associated with the use and operation of the boat club vessels andequipment including but not limited to: sprains, torn muscles and/or ligaments; fractured orbroken bones; eye damage; cut and wounds; scrapes; abrasions, and/or contusions; head, neck,and/or spinal injuries; animal or insect bite or attack, shock, paralysis, drowning, and/or death;and any resultant expenses from any of the foregoing risks and assumes all risk of injury, illness,damage or loss that might result regardless of the cause.

37. WAIVER/RELEASE OF LIABILITY. By the execution of this release, the undersignedvoluntarily releases, forever discharges and agrees to indemnify, defend and hold harmless SBC,Recreational Marine Company, LLC and their employees, agents, members and contractorsfrom any and all liability of any nature arising from any and all activities related to theoperation, or use of the boat club vessels and equipment provided by SBC, on behalf of BoatClub Member, his or her family, guests, visitors or agents, regardless of the cause. Theundersigned assumes full responsibility for any such injuries, or damages which may occur, andfurther agrees that SBC shall not be liable for any loss or theft of personal property. Theundersigned specifically agrees that SBC shall not be responsible for such injuries, damages, lossor theft, even in the event of negligence or fault by SBC. FURTHERMORE, BOAT CLUBMEMBER ACKNOWLEDGES THAT HE OR SHE HAS READ THISWAIVER/RELEASE OF LIABILITY AND FULLY UNDERSTANDS THAT IT IS ARELEASE OF LIABILITY. BOAT CLUB MEMBER IS WAIVING ANY RIGHT THATHE OR SHE MAY HAVE TO BRING LEGAL ACTION TO ASSERT A CLAIMAGAINST SBC OR RECREATIONAL MARINE COMPANY, LLC, OR THEIREMPLOYEES, AGENTS, MEMBERS AND CONTRACTORS FOR THEIRNEGLIGENCE.

38. CONDITION OF BOAT CLUB VESSELS. Boat Club Member hereby acknowledges that heor she has been given an opportunity to inspect and examine the boat club vessels and theprovided equipment prior to signing this Boat Club Membership Agreement and he or she willadditionally inspect and examine the boat club vessel prior to each launch and accepts thecondition (“Proper Condition”) of the boat club vessels upon each launch as confirming the boatclub vessel and equipment are in a safe and proper running condition. Boat Club Member furtheracknowledges that he or she shall return the boat club vessels and equipment in the same ProperCondition, less normal wear and tear. If the boat club vessel is not retuned in the same Proper


Condition, normal wear and tear excepted, Boat Club Member shall be responsible for any and all costs associated with retuning the boat club vessel to the Proper Condition including lost revenue while repairs are being made.

39. NO PETS, sorry! 40. ATTORNEY FEES: Boat Club Member shall pay SBC all of SBC’s costs and expenses,

including without limitation, reasonable attorney’s fees incurred in collecting amounts due from Member or in enforcing any rights of SBC arising under this Agreement. PLEASE READ AND SIGN:

I HAVE READ, UNDERSTOOD AND ACCEPTED THIS AGREEMENT, INCLUDING,

BUT NOT LIMITED TO, THE LIABILITY RELEASE AND ACCEPTANCE OF RISK SET FORTH ABOVE.

Signature of BOAT CLUB MEMBER Signature of BOAT CLUB MEMBER

Date Date

Address City State Zip Code

SEATTLE BOAT CO.

By: Its’:

ASSOCIATED OPERATOR’S ADDENDUM:

I agree to the terms and conditions of this contract as a supplementary party to the MEMBER listed above.

Signature of OPERATOR Printed Name of OPERATOR

For higher Watercraft Liability limits (typically $300,000.00 and up), for Prior FAST catamaran style experience orfor other reasons the Underwriters have requested the following boating experience resume and associated information be completed for each of the NAMED OPERATOR(s) on the policy.

1. Name of Operator_________________________________________________________________

Address_________________________________________________________________

City _______________________________________ St. ______ Zip _______-_____

2. Drivers License Number______________________________________ State __________

3. Date of Birth _____/_____/_____ Age of Operator ______

4. Occupation ________________________________________________________________________

5. Years of general boating experience ____ Years of “fast catamaran or tunnel hull” experience ____(define the cat style crafts operated below)

6. Years of titled boat ownership ________

7 a. Prior boats you have OWNED: COMPLETE ALL CATEGORIES

Year Length Manufacturer Model (CAT) Max. Speed

Dates operated (from year)

Dates operated (to year)

b. Prior boats you have OPERATED: COMPLETE ALL CATEGORIES.

Year Length Manufacturer Model (CAT) Max. Speed

Dates operated (from year)

Dates operated (to year)

8. List all waters or areas you have navigated: (Atlantic, Great Lakes, Bays, Bahamas, Caribbean, etc,)______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

9. List Licenses, Boating Courses, Boating Education Classes, etc. completed (if none, write “None”):____________________________________________________________________________________________________________________________________________________________________

10. List all marine insurance claims and/or prior marine loss history in past 5 years (if none, write“None”):____________________________________________________________________________________________________________________________________________________________________

I HEREBY AFFIRM THAT ALL STATEMENTS MADE HEREIN HAVE BEEN ANSWERED TO THE BEST OF MY ABILITY AND ARE TRUE.

Signature of Insured: _____________________________________________ Date: ____/____/__

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