THE COURTYARD HOMEOWNERS ASSOCIATION, INC.

LEASE AGREEMENT

FOR TAIT’SRACK

Space # ______Gate Key# ______(# on key)
Lease term: July 1, 2017– June 30, 2018
Subsequent annual Lease terms: July 1 – June 30
The annual Lease rate is subject to change by vote of the HOA

Property Owner Name: E-Mail:

Courtyard Property Address:

Mailing Address(if different):

City/State/Zip: Home or Contact Phone:

This Lease Agreement (“Lease”) is entered into between the above listed owner (“LESSEE”) and the Courtyard Homeowners Association, Inc. (“HOA”) for the purpose of leasing a space in the HOA’skayak/canoerack(“Tait’s Rack”) located within the HOA community park. The term HOA as used in this Leaseshall include The Courtyard Homeowners Association, Inc., its employees, agents, contractors, officers, members of the board of directors, committee chairs, successors, and assigns.

The HOA has set a usage fee in contemplation of LESSEE executing this Lease and becoming an authorized user of Tait’sRack, and LESSEEthereby becoming responsible for any injuries or accidentswhich LESSEE or LESSEE’s guests or persons accompanying LESSEE may sustain, or property damage which LESSEE or LESSEE’s guests or persons accompanying LESSEE may cause while using or accessing Tait’sRack and adjacent common areas. In consideration of HOA permitting LESSEE to utilize Tait’s Rack, LESSEE agrees to the following terms and conditions:

  1. For each non-motorized paddle-driven kayakorcanoe(“Boat”) registered with the HOAand stored in Tait’sRack, LESSEEshall pay a fee of $65.00, for the initial Lease termfrom June 1of the year first written abovethrough June 30 of the following year (collected in advance) for theassigned storage space as listed above. The annual Lease rate is subject to change at any time by vote of the HOA Board. The leased space is not transferable. No sublease is permitted.
  1. LESSEE acknowledges and accepts a non-exclusive right to store one Boatof a size commensurate with maximum nominal dimensions described below or as otherwise permitted by special arrangement specified in writing, in oneassigned space; such space being subject to change or termination by the HOAfor any reason, or no reason, at any time. The Lease is subject to termination by the LESSEEfor any reason, or no reason, at any time. If the LESSEE or the HOA elects to terminatethis Lease, the storage fee will not be refunded. The key deposit will be refunded to LESSEE upon receipt of the key.
  2. The HOA makes no representations of safety or security to LESSEE. LESSEE shall be responsible for the proper storage of LESSEE’s Boat and other property and to secure the same. LESSEE hereby releases the HOA from any liability for theft, vandalism, loss or damage to any Boat or other property stored in or transported to or from LESSEE’S space in Tait’s Rack. LESSEE undertakes and assumes total responsibility for security, safety, and well being of LESSEE’s personal property stored in Tait’s Rack. LESSEEagreesto indemnify and hold harmless HOA from any legal action or claim brought by or on behalf of LESSEE against HOA for any act or omission alleged to have been the cause of injury or property loss to or by LESSEE. Such indemnification shall include any and all expenses associated with such an action or claim including, but not limited to, any settlement or judgment, attorney's fees, expert witness fees, court costs, and deposition fees. LESSEE will indemnify and hold harmless HOA from any claims arising from any incident involving ‘day use’ by LESSEE’s guests.
  3. LESSEE will keep in force for the duration of thisLease, personal liability insurance, personal property insurance; medical insurance and, if appropriate, boat liability/casualty insurance in an amount of at least $300,000.00to cover any injury to persons or damage to vehicles, boats or related appliances which LESSEE, guest, third party, or property of the HOA or others might sustain while using and accessing Tait’s Rack and adjacent common areas. Before storing a Boat in Tait’s Rack, and with each annual Lease renewal,LESSEE will provide HOAwith evidence ofrequired coverage. As to any claim against the HOA, LESSEE agrees to look to such insurance as the sole source of recovery relating to or arising from 1) accident sustained or aggravated while on any property owned by the HOA, 2) theft of any Boat or other personal property, or 3) damagewhether willful or negligent, to LESSEE’S personal property sustained or aggravated by acts of nature, outside persons, or persons unknown.
  4. This Lease shall remain in force beginning with the initial pre-paid Lease term and continuing through subsequent annual Lease terms as long as 1) LESSEE’s Boatremains in Tait’s Rack, 2) lease payments are current and pre-paid annually, 3) LESSEE remains in good standing with the HOA, or 4) unless/until terminatedin writing by either party.
  5. LESSEE agrees to assume the duty of ensuring that the Tait’sRack area, and access to other portions of HOA community park premises are safe for the activities, whichLESSEE is or intends to be engaged. LESSEE agrees to immediately suspend any activity which could reasonably be anticipated to result in injury to LESSEE or others, or result in damage to the premises or personal property of others stored therein. Upon becoming aware of any unsafe or potentially unsafe condition, LESSEE agrees to warn others, cease any and all activity which could increase the danger and immediately notify HOA management. To help protect the security of Tait’s Rack and all the Boats stored therein, LESSEE is responsible for securing, using the lock provided by the HOA, any open gate when discovered at any time or upon leaving the enclosed Tait’sRack compound. Keys may not be duplicated or distributed to unauthorized persons for any purpose.LESSEE is also responsible for securing LESSEE’s Boat to Tait’s Rack with appropriate locks and cables.
  6. LESSEE expressly represents that itis an owner of property within the Courtyard subdivision, is a member in good standing of the HOA, is the owner of the Boat to be stored in Tait’sRackand has the legal capacity to enter into this Lease.
  7. In the event that any court or competent jurisdiction declares any portion of this Leasevoid or otherwise invalid, the remainder of this Lease shall remain in full force and effect.
  8. LESSEE EXPRESSLY ACKNOWLEDGES HAVING BEEN ADVISED THAT EXECUTION OF THIS LEASEMAY ALTER LESSEE’S LEGAL RIGHTS AND THAT LESSEE HASBEEN ADVISED TO OBTAIN LEGAL ADVICE PRIOR TO THE EXECUTION OF THIS LEASE. BY LESSEE’S SIGNATURE BELOW, LESSEE ACKNOWLEDGES THAT LESSEEHAS OBTAINED SUCH LEGAL ADVICE OR EXPRESSLY WAIVES THEOPPORTUNITY TO DO SO.
  9. LESSEE agrees and acknowledges that in the event of LESSEE’s default of any of the provisions of this Lease, if after 30 days’ written notice to LESSEE, the LESSEE hasn’t cured the default, the HOAshall have the right to have LESSEE’s Boat stored at Tait’s Rack removed at LESSEE’s expense. Should LESSEE’s Boat or other property remain in Tait’sRack after the end of the term of this Lease, the HOA may remove the Boat at LESSEE’s expense. Any Boat removed from Tait’s Rack and not claimed after 180 days shall be considered abandoned and may be disposed of as the KHOA Kayak and Canoe Committee (“KCC”) deems appropriate.

LESSEE UNDERSTANDS AND AGREES THAT Noncompliance with any of the terms of this Lease will result IN termination of this Lease and forfeiture of any rights to use Tait’sRACK.

COMPLETE ALL INFORMATION BELOW TO ENSURE RESERVING A SPACE:

Boat Description, if new: (if the boat has not yet been purchased, circle NOT PURCHASED and provide the description when available.)

Kayak ___ Canoe ___ Mfg./Brand:______Model: ______Color: ______

Tait’sRack accommodatesBoats of the followingmaximum dimensions:Length 16ft, Width 33in, Depth 15in.

If LESSEE’sBoat dimensionsexceed these dimensions, please indicatethe actual dimensions:

Length: ______ft. Width: ______in. Depth:______in.

Subject to space constraints, the KCC will try to fit non-standard boats, if possible.

Upon execution of this Lease, a numbered gate key will be provided to LESSEE. The key may not be duplicated. Replacement keys cost $15.00 each.

IN WITNESS WHEREOF, the parties execute this Lease effective as of______.

Signature of LESSEE: Date:

Signature of HOA: Date:

Agent for HOA

IMPORTANT INSTRUCTIONS:

New LESSEES: Before a new LESSEE’s Boat can be placed in Tait’s Rack, the resident Homeowner must meet with the KCC Chair. The purpose of this meeting is to sign two originals of the Lease and to orient the Homeowner as to the use and obligations of Tait’s Rack. The Homeowner is required to bring the Boat,the appropriate cables and locks the Homeowner will use to secure the Boat,and two checks($65.00 for annual rental and $15.00 for the key deposit) to the meeting. Checks are to be made out to “Courtyard Homeowners Association”.

Existing LESSEES: Each Maythe chair of the KCC will send a notice to all existing Tait’s Rack LESSEES. This notice will consist of a short form renewal for those who wish to renew their Lease. The short form must be completed, signed and returnedwith a check in the amount of $65.00 by June 1. The short form will contain a provision that the current or revised Lease has been read and agreedto by LESSEE. Checks are to be made out to “Courtyard Homeowners Association”. If there are material changes to the LEASE, a copy will be attached to the notice and referenced in the short form renewal.

If you chooseNOTto renewfor a subsequent Lease term, please notify the KCC Chair in writing before June 1stof the coming Lease year and kindly remove your Boat from Tait’s Rack andreturn your gate key to the KCC Chairby June 30.

Payment for each subsequent annual term is due not later than June 1stof each Lease year.ANY SUBSEQUENT LEASE TERM PAYMENT NOT RECEIVED BYJUNE 1stWILLAUTOMATICALLY RESULT IN LEASE TERMINATION AND FORFEITURE OF THE ASSIGNED SPACE,AS THERE ARE OTHER HOMEOWNERS ON THE WAITING LIST FOR A SPACE.

Revised: May, 2017Page1Courtyard HOATait’sRackAnnual Lease Agreement