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Slip & Mooring Lease Update

posted Mar 26, 2012, 1:45 PM by Unknown user   [ updated Apr 2, 2012, 8:07 PM by AUGUSTA SAILINGCLUB ]

The Board has identified concerns for certain liabilities associated with our slip and mooring leases. Namely we do not have a mooring lease in use and the slip lease is not in uniform use because it does not reflect our current operations. Therefore we are starting a process of updating our uniform slip lease and then from there adding a mooring lease. The idea is to make both leases appendices to the H&G Rules which will make them uniform and accessible. 

The updating of the slip lease is mostly to reflect the way we are actually operating now as the legacy (prepaid lease) dock system is coming to an end. Only B and F docks still have prepaid slip arrangements. The main changes proposed are as follows:

1. Add optional provision for prepaid lease term and associated proration against monthly rent as on B & F.

2. Add optional provision for month to month lease term. This is effectively how the slips have been leased in recent years except on B & F.

3. Remove the Additional Rent provision for maintenance reserve, insurance and utilities. These costs are now factored into the Base Rent.

4. Strengthen the language assigning liability for property damage & personal injury to the slipholder.

5. Strengthen the insurance provisions to add liability coverage and $100,000 minimum limit.

6. Add termination language allowing either party to terminate on 30 days notice. 

With an updated slip lease, as above, the mooring Lease is just a modified version of the slip lease. 

Please take a few minutes to look over the attached drafts and communicate any feedback. 

Apr 2, 2012, 6:27 PM
Apr 2, 2012, 6:27 PM