This agreement (the “Agreement”) entered into this date March 1, 2024 by and between BEAR LAKE INVESTMENTS I, hereinafter collectively referred to “Lessor” and (hereinafter “Boat Owner”).
WHEREAS, Boat Owner desires to store the below described boat and trailer at Lessor’s facility located in Jackson County, Tuckasegee, NC 28783 (the “BEAR LAKE INVESTMENTS I, Facility”) for the period described herein, and
WHEREAS, as a convenience to and for the sole benefit of Boat Owner, Lessor is willing to permit Boat Owner to store the below described boat and trailer at the BEAR LAKE INVESTMENTS I Facility pursuant to the terms of this Agreement;
NOW THEREFORE, in consideration of the mutual covenants and terms contained in this Agreement, Lessor and Boat Owner hereby agree as follows:
1. Storage, Access to Facility and Term of Agreement: For a period of _______ beginning on the date ______ hereof and ending on ______ (the “Storage Period”), Boat Owner is hereby permitted to store the below described boat and trailer at a location within the BEAR LAKE INVESTMENTS I Facility to be determined by Lessor. During this time period, Boat Owner shall have access to the BEAR LAKE INVESTMENTS I Facility only if accompanied by a BEAR LAKE INVESTMENTS I member or during any time periods that the BEAR LAKE INVESTMENTS I Facility is open to the public for regattas or other events. The Storage Period may be extended if Lessor and the Boat Owner agree to such extension in writing. Boat Owner will not perform repair or maintenance work on the below described boat or trailer at the BEAR LAKE INVESTMENTS I Facility, unless permission has been given by Lessor.
Boat Description (include type of boat and boat name):____________________________(the “Boat”) TrailerDescription (include trailer license plate number): _________________________(the “Trailer”)
2. Holding Over: If Boat Owner fails to remove his/her Boat and Trailer from the BEAR LAKE INVESTMENTS I Facility prior to the expiration of the Storage Period (including any extensions thereof), Boat Owner shall pay to Lessor liquidated damages of Ten Dollars per day for each day the Boat and/or Trailer remain at the BEAR LAKE INVESTMENTS I Facility following the expiration of the Storage Period (including any extensions thereof) and BEAR LAKE INVESTMENTS I and may exercise any and all other remedies available to Lessor at law or in equity.
3. Insurance: Boat Owner shall maintain adequate insurance coverage on his/her Boat and Trailer while they are in storage at the BEAR LAKE INVESTMENTS I Facility.
4. Right to Move Boat and Trailer: Lessor is hereby permitted (but not obligated) to move Boat Owner’s Boat and Trailer within BEAR LAKE INVESTMENTS I's Facility in the event of an emergency situation (i.e. dangerous weather conditions), for ground maintenance at the BEAR LAKE INVESTMENTS I Facility, or if the location of the Boat and/or Trailer would interfere with any Lessor activities or operations.
5. Release of Claims: BOAT OWNER RELEASES AND FOREVER DISCHARGES LESSOR AND IT’S MEMBERS, OFFICERS, OR AGENTS FROM AND AGAINST ANY AND ALL LIABILITY, CLAIMS, DEMANDS, LOSSES, DAMAGES OR CAUSES OF ACTION WHATSOEVER CAUSED OR ALLEGED TO BE CAUSED IN WHOLE OR IN PART BY THE NEGLIGENCE OF ANY OF THEM OR OTHERWISE, INCLUD ING, WITHOUT LIMITATION, CLAIMS FOR DAMAGE TO OR LOSS OF ANY PROPERTY (INCLUDING THE BOAT AND TRAILER OR ANY ITEMS LEFT ON THE BOAT OR TRAILER) LEFT AT THE BEAR LAKE RESERVE, LLC FACILITY DUE TO THEFT, PILFERAGE, VAN DALISM, COLLISION, FIRE, FLOOD, HAIL, HIGH/LOW WATER, WIND, ICE, RAIN OR ANY OTHER ACTS OF GOD.
6. Indemnification and Waiver of Subrogation: BOAT OWNER HEREBY INDEMNIFIES LESSOR AND IT’S MEMBERS, OFFICERS, AND AGENTS FROM AND AGAINST ANY AND ALL LIABILITIES, CLAIMS, DEMANDS, LOSSES, DAMAGES, CAUSES OF ACTION, AND EXPENSES ARISING OUT OF THIS AGREEMENT OR THE STORAGE OF THE BOAT AND TRAILER AT THE BEAR LAKE INVESTMENTS I FACILITY. BOAT OWNER SHALL NOT UNDER ANY CIRCUMSTANCES WHATSOEVER SUBROGATE OR ASSIGN ANY CLAIM OR CLAIMS OF ANY SORT AGAINST LESSOR AND IT’S MEMBERS, OFFICERS, OR AGENTS TO ANY THIRD PARTIES, INCLUDING INSURERS OR UNDERWRITERS. BOAT OWNER ACKNOWLEDGES THAT ANY SUCH SUBROGATION OR ASSIGNMENT SHALL BE NULL AND VOID.
7. Applicable Law and Consent to Jurisdiction: All questions concerning the construction, validity, and interpretation of this Agreement shall be governed by, interpreted and construed in accordance with the laws of the State of North Carolina. The parties hereto hereby irrevacably consent to the personal jurisdiction of the courts of the State of North Carolina with respect to matters arising out of or related to this Agreement.
8. Waiver: The waiver by either party of compliance with any provision of this Agreement by the other party shall not operate or be construed as a waiver of any other provision of this Agreement, or of any subsequent breach by such party of a provision of this Agreement.
9. Entire Agreement and Amendment: This Agreement constitutes the entire contract between the parties hereto with respect to the subject matter hereof and may not be changed, modified or amended, except by an instrument in writing signed by the parties hereto.
10. Severability: If any provision of this Agreement or the application thereof to any person or circumstance shall be invalid, illegal or unenforceable to any extent, the remainder of this Agreement and the application thereof shall not be affected and shall be enforceable to the fullest extent permitted bylaw.
11. Heirs, Successors and Assigns: This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns, but not be assignable, by operation of law or otherwise, by Boat Owner without the prior written consent of LESSOR.
IN WITNESS WHEREOF, the parties hereto hove executed this Agreement as of the day and year first written above