Lake Meadows Homeowners Association

Lake Meadows Homeowners Association

Boat Slip Rental Agreement

THIS AGREEMENT, made and executed in duplicate, this ______day of ______, _____, by and between LMHOA, Inc., a nonprofit corporation of the State of Tennessee, hereinafter “Lessor,” and ______, hereinafter “Lessee.”

WHEREAS, Lessor is the owner of the boat dock at Lake Meadows, on Boone Lake and the Lessee desires to rent a boat slip.

NOW, THEREFORE, THE PARTIES AGREE AS FOLLOWS:

Slip and term. Lessor shall rent to Lessee Slip # ______at Lake Meadows dock. The initial term shall commence ______and will cease on the last day of February.

Lessee’s covenants, representations, and warranties:

Lessee is member of LMHOA, of legal age, and holds legal title to the Vessel identified as: ______REG #: ______.
Lessee acknowledges that the Vessel identified above is the only vessel that is permitted to use the slip. Lessee shall not sublet, loan, temporarily transfer, or permit others to use the slip except in accordance with applicable procedures as set forth by the Lessor.
Lessee agrees, in the event of termination of this lease to peaceably surrender possession of the slip to Lessor, to remove any vessel using the slip within 10 days of termination of this agreement. Lessee is liable for all costs incurred by Lessor in connection with regaining possession of the slip, including court costs and reasonable attorneys fees should Lessee fail to surrender the slip to Lessor following termination of the agreement.
Lessee agrees to abide by all federal, state, and local laws, rules, and regulations in connection with the use of the slip. Lessee agrees that the vessel will be kept in ordinary repair and maintained so as not to present any unusual or increased risk of explosion, sinking, or any other threat to surrounding persons or property. Lessee agrees to immediately salvage any vessel that sinks in the slip or in the area adjacent to the slip.
Lessee agrees that, except for reasonable periods during which the vessel is hauled for storage or repair, or while the vessel is temporarily out of the area, that the slip will be continuously occupied. Lessee agrees to notify Lessor within ten (10) days of any sale, purchase, transfer, or replacement of the Vessel or other event that may cause the slip to become vacant, or occupied by another vessel of Lessee.
Lessee acknowledges that violation of any of the foregoing covenants, representations, and warranties shall constitute grounds for termination of this Slip Rental Agreement.

Annual rent. Rent shall be $______per year due in its entirety upon execution of this Agreement.
Termination by Lessor. Lessor may terminate this Agreement for cause, which shall include breach or non-performance of any term, covenant, representation, or warranty included in this Agreement, or violation of any rule, regulation, or ordinance enacted by Lessor as stipulated in Boat Slip Rental Policy, Addendum I of the Protective and Restrictive Covenants of Lake Meadows.
Termination by Lessee. Lessee may terminate this Agreement at any time by giving Lessor written notice of termination no less than 30 days prior to the date of termination.
Use and occupancy. Lessee shall use and occupy the slip only for its intended purpose. All main ramps, piers, finger piers, walkways and decking shall remain clear of all obstructions, with the exception of equipment necessary for the operation of boat lifts. The placement of boats, canoes, kayaks, tows or any other equipment on the dock is prohibited. Mooring lines shall be flaked or coiled as to not be a hazard. Lessees shall exercise ordinary reasonable care in connection with slip use so as to prevent any damage to the slip, piers, docks, bulkheads, ramp, anchors, cables, winches, or any other property owned by Lessor, including damage by the Lessee, his agents, guests, servants or employees. Lessee shall notify Lessor of damage and shall, at Lessee’s expense, immediately repair any such damage to the satisfaction of Lessor. Should Lessee fail, neglect, or refuse to effect such repairs within 30 days after written notice, Lessor may effect the repairs at the Lessee’s expense and all costs incurred shall be immediately due and payable as additional rent. Failure to pay any such sum shall be a breach of this Agreement and cause for termination.
Waiver and indemnification. The Lessee, on behalf of himself and his heirs, personal representatives, and assigns, hereby waives any and all claims against the Lessor for any injuries, losses or damages to any person or vessel occupying the slip, including all equipment and personal property of Lessee or others.
Alterations and improvements. Lessee shall not alter or construct any addition to the slip or the land to which it abuts without expressed written consent from Lessor. During the term, Lessor reserves the right to make repairs and improvements to any slips, structures, piers, pilings, or other facilities, above or below the surface or adjacent to the slip or facilities, without abatement of any rent due, without the consent or approval of Lessee.
Sublease and assignment. Lessee may not let, sublease, assign, convey or transfer use of the slip to any other person or party.
Rules and regulations. Lessor may adopt or amend rules and regulations from time to time for the use and rental of boat slips and related facilities contained in Addendum I, Boat Slip Rental Policy of the Protective and Restrictive Covenants of Lake Meadows. Breach of any such rule or regulation shall be a breach of this Agreement and shall be cause for termination.
Trash and debris. Lessee shall keep the area free of trash, debris, other discarded material and equipment, and this obligation shall extend to Lessee’s guests, employees, servants, and others using the slip and facilities with Lessee’s knowledge or consent.
Remedies. Upon breach of any condition of this Agreement or Addendum I, Lessor shall have the right to re-enter and repossess the slip, to remove the vessel occupying the slip at the expense of the Lessee, and re-let the slip. In that event, Lessee authorizes Lessor to remove Lessee’s vessel from the slip and to deliver the vessel to any available location. Lessee releases Lessor from any and all liability associated with the transfer permitted hereby except for actions amounting to wanton or willful injury or damage or gross negligence.
Entire Agreement. This Agreement and the Boat Slip Rental Policy Addendum I of the Protective and Restrictive Covenants of Lake Meadows contain the entire understanding between the parties.

IN WITNESS WHEREOF, Lessor has caused these presents to be signed in its name on behalf by its duly authorized agent and the said Lessee has signed the same.

______Date: ______

Lessee,

LAKE MEADOWS HOMEOWNERS ASSOCIATION

By______Date: ______

Representative, Board of Directors

Authorized Agent