Personal Watercraft Lease Agreement

Witnesses: That the Landlord leases to the Tenant and the Tenant leases from the Landlord, the premises/PWC ramp:

in the Oyster Cove Boat Basin Condominium regime under the following terms and conditions:

This agreement is on a seasonal basis with a fee of $700 per season. Any unoccupied or unused slip for a period of 15 days or more, will revoke this agreement and the PWC slip assigned will be assigned to others on the waiting list. Any pro-rated fees and refunds for terms less than a season, will be considered on a case-by-case basis. The slip may be occupied starting on April 1st. This agreement ends on October 31st and slip must be vacated by this date. Slip Holder is responsible for any damage caused to the premises. Slip Holder agrees to observe the Oyster Cove Boat Basin Rules and all restrictions and conditions imposed by the Declaration of Covenants, the Bylaws and the Rules and Regulations of the Oyster Cove Boat Basin Condominium. All Coast Guard Rules and Regulations pertaining to PWC's must be followed at all times. It is the responsibility of the operator of the PWC to abide by these rules. A copy of the Boat Basin documents and Oyster Cove Resident Information Packet is available from Pelican Property Management and on the website.