1. To notify Port of Egypt Marine Inc. (hereafter POEM) in writing of any change in ownership or status. Such written notice will not relieve owner of his obligations hereunder. The rights granted hereunder are not transferable without the written consent of POEM.

2. That no one except Owner, Owner's family, relatives or full-time captain shall be permitted or allowed to work on or service the boat, its gear and equipment, while stored under this contract without first obtaining written permission from POEM, which shall not be unreasonably withheld. It shall be Owner's sole responsibility to protect all other boats stored or location of the premises from any damage resulting from work being performed in, on, or around Owner's boat.

3. To keep allotted space in neat and orderly condition and free from anything which is a fire hazard; not to place or store gasoline, paint, paper, combustible material or similar debris in the boat or in space provided, except for gas contained in the boat's gas tank(s). Filling gas containers at the dock is prohibited. While on and about the property of POEM, Owner will strictly comply with all police, fire and sanitary regulations, Town of Southold ordinances and the laws of the County of Suffolk and the State of New York, and rules and regulations posted by POEM.

4. POEM will, under no circumstances, be responsible for loss or damage to the boat by fire, water, wind power failure, theft, civil disturbance, acts of God, freezing or ice conditions, or any other reason beyond the reasonable control of POEM. Further, POEM will not be responsible for personal injury to Owner or anyone Owner invites on boat or premises; and Owner understands that this marina carries no insurance to protect Owner against this liability, and the relationship between the parties is one of Landlord (POEM) and Tenant (Owner) and this marina is not a warehousemen; nor will POEM be responsible for loss of any articles, gear, accessories and equipment that may be left on the boat or anywhere on the premises; and Owner does hereby expressly release POEM and waive all rights and claims against it for loss, damages, or injuries sustained by them or their property while on the premises of POEM, and they hereby agree to save POEM harmless from any and all liability from loss, injury or damage to persons or property who or which the Owner may invite to bring on the premises, as well as all costs and expenses which POEM may incur in connection therewith, including but not limited to actual attorney fees.

5. To be solely responsible for the boat from and after the time it is launched including inspection of the boat from time to time to ascertain whether or not it is taking on water.

6. In the event Owner or any invitee of Owner shall fail to comply with or perform any of the conditions or agreements herein undertaken, or shall fail to observe the general rules and regulations, or shall act in such a manner as to be a nuisance or unreasonably disturb others, POEM shall have the right to cancel this contract immediately and fortl1witl1 terminate all privileges granted herein. Upon said notice, Owner will immediately give up possession of said space and remove the boat, its equipment and all other property therefrom. Should said Owner choose to leave prior to the end of the season, POEM is under no obligation to refund unused portion of payment. Upon expiration of 7 days from date of mailing or posting said notice, POEM without further notice, may remove said boat and any property of any kind therein and put out and leave the same at any place POEM may determine at the full risk of Owner. Owner agrees to reimburse POEM for cost of said removal.

7. POEM shall have the right of lien against the boat for dockage charges and other charges set forth herein. FINANCE CHARGES, and all other sums, including charges at POEM store, due from Owner or assigns to POEM. In no event shall boat be launched or removed from dockage prior to payment in full of all said charges.

8. Liability for damage to or loss of the boat and its contents occurring during launching or hauling operations is limited to the market value of said boat or the cost of the repair of the boat whichever is lesser of the two. Liability for damage to or loss of the boat, its contents and its cradle or trailer, occurring at any time other than during removal or launching operations is limited to $200 per foot of length. POEM shall not be responsible for any loss or damage caused by or resulting from delay, loss of market or use, interruption of business or other consequential loss extending beyond the direct physical loss of or damage to the boat, its contents, and its cradle or trailer.

9. (a) Claims under this Agreement must be presented in writing to POEM within a reasonable time, and in no event longer than 30 days after delivery of the goods by POEM or 30 days after Owner is notified by POEM that loss or injury to part or all of the goods occurred, whichever time is shorter. (b) No action may be maintained by the Owner or others against POEM for loss or injury to the goods stored unless timely written claim has been given as provided in paragraph (a) of this section and unless such action is commenced either within twelve (12) months after date of delivery or within twelve (12) months after notification of loss or injury, whichever is shorter. (c) When goods have not been delivered, notice may be given of known loss or injury to the boat by mailing a registered or certified letter to Owner. Time limitations for presentation of claim in writing and maintaining of action after notice by mail begin on date of POE mailing such notice.

10. Invoices are payable and due when rendered. A FINANCE CHARGE will apply to any Balance remaining unpaid ten (10) days after invoice is rendered. Unpaid Balance, on which FINANCE CHARGE will be computed is determined by deducting all payments received. FINANCE CHARGE when applicable, is computed by applying a 2.0% monthly periodic rate, 24% Annual Rate to the unpaid previous balance. A minimum FINANCE CHARGE of Fifty Cents ($.50) is applicable to unpaid previous balance of less than Twenty Dollars ($20). Each payment shall be first applied to any unpaid FINANCE CHARGE unpaid. All FINANCE CHARGES hereunder are agreed to be a Time Price differential.

11. This Agreement shall be interpreted under and in accordance with laws of the State of New York, and nothing contained herein shall be construed as a waiver of any rights POEM may have. All pronouns used herein shall be construed to be masculine, feminine, or neuter, as the context shall require. If any portion of this contract is deemed invalid or unenforceable, then to the extent possible, all other parts of this contract shall be interpreted so as to be enforceable, and the same shall remain in full force and effect. The Agreement shall be binding upon and insure to the benefit of the successors and assigns of the parties hereto.

12. That due to our insurance policy regulation, no work by customers shall be done on boats stored inside.

13. In the event that any amounts due under this contract are not paid when due and the matter is referred to counsel for collection, Owner shall be further liable for reasonable attorney fees for collection.

14. Shall advise POEM if boat stored in the yard is for sale. No "For Sale" signs are permitted on or around boat. Any sales originating from POE property must comply with POEM's brokerage procedure.

15. If boat has to be hauled out of the water, Owner must tilt engine and/or drive up, raise trim tabs, lower canvas frames and lower antennas. POEM is not responsible for damage to drives, tabs, canvas or antennas if these steps are not taken.