SHAKE-A-LEG MIAMI DRY STORAGE AGREEMENT

This Dry Storage Agreement ["Agreement") is by and between Shake-A-Leg Miami, Inc. (“SALM”) and the Vessel identified below and her Owner[s] ("OWNER”). The purpose of this Agreement is to provide for the storage of the Vessel and its Trailer at the SALM Premises located at 2620 South Bayshore Drive, Miami, FL 33133.

OWNER’s Name: SALM Control No.______

Mailing Address:

Home phone: Cell Phone: E-mail:

Vessel Name:______HIN #______State Reg. #:______Power/Sail?

Manufacturer ______Model/M Yr.______LOA: Beam: Draft:

Trailer LOA______VIN #______Tag #______

SALM Trailer reg. #: ______

Insurance Co: Policy #: Exp.Date:____
Rates: Etchells (four months Dec.-March): $1320 Melges 20 (four months Dec.-March) $880.

Storage Start Date: ______

SALM annual social membership payment: $ 60.

Type Credit Card:______Number______Exp. Date______

Name on Card if different than OWNER ______

By signing below, OWNER acknowledges that he or she has been given a signed copy of this Agreement, including the four (4) page accompanying Terms and Conditions, and SALM acknowledges that it has received a copy of the Declaration Page of a current property and liability insurance policy for the Vessel as required in Section 16. If the person signing is not the OWNER but is signing for and on behalf of the OWNER, they warrant and represent their authority to obligate the OWNER and the Vessel to the terms of this Agreement they also agree to be personally bound by the Terms and Conditions of this Agreement.

Date signed: ______

Shake-A-Leg Miami, Inc.
Signature: ______
Print Name: ______
Title: ______/ Vessel/Trailer Owner or Authorized Representative
Signature: ______
Print Name: ______

(July 2010 edition) 4 of 4

Shake-A-Leg Miami

Dry Storage Agreement - Terms and Conditions:

SHAKE-A-LEG MIAMI DRY STORAGE AGREEMENT

Terms and Conditions:

1. Description of Storage: SALM grants to OWNER the non-exclusive, personal, revocable, and un-assignable right to use the Premises for storage of the Vessel and/or Trailer, together with the non-exclusive right to use the SALM hoist to transfer the Vessel into and out of the water, and the SALM docks to transfer the OWNER and crew to and from the Vessel. SALM reserves the right in its sole discretion, and at any time, to change location of the Vessel within the Premises.

2. Term of Storage: The storage contemplated in this Agreement shall commence on the Storage Start Date. This Agreement shall terminate as provided below.

3. SALM membership: As partial compensation under this Agreement, OWNER agrees to purchase a one year Social membership at SALM and agrees that if this Agreement continues for more than one year that SALM may automatically renew the membership and deduct its payment from the credit card identified above.

4. Fee:

A. OWNER shall pay a monthly fee in the amount shown on the signature page. The fee is payable on the first business day of each month of the storage contemplated by this Agreement by auto charge from the credit card identified above and OWNER agrees to the withdrawals from the credit card account. The fee for storage for less than a month will be prorated and if the Vessel leaves during a month for which payment has been made, SALM will refund the overage.

B. All late payments due SALM shall bear interest at higher of 18% per annum or the highest rate of interest permitted to be charged by applicable law. SALM may charge a returned check fee of $25.00. No payment by OWNER, or receipt by SALM, of a lesser amount than the amounts actually owed under the terms of this Agreement shall be deemed to be anything other than a payment on account of the earliest stipulated amount due. No endorsement or statement on any check or any letter accompanying any check or payment will be deemed an accord and satisfaction. SALM may accept the check or payment without prejudice to SALM's right to recover the balance of the amounts owed or to pursue any other remedy. It Is the intention of the parties that this article modify the common law rules of waiver and estoppel and the provisions of any statue which might dictate a contrary result.

5. Security Deposit: The Security Deposit shall be held by SALM as security for OWNER's full and faithful performance of this Agreement. The Security Deposit may be commingled with other funds of SALM and SALM shall have no liability for payment of any interest on the Deposit. SALM may apply the Deposit to the extent required to cure any Default as described herein. The Deposit, without interest, shall be refundable to OWNER within 60 days of Termination of this Agreement, provided all the obligations of OWNER under this Agreement are satisfied.

6. Access. SALM will be open seven days a week except for designated holidays but reserves the right to set business hours with regard to seasonal changes in daylight and according to weather conditions. SALM will be open during normal working hours unless prior arrangement are made. SALM will not be liable for any acts beyond its control, including any failure of SALM equipment.

7. SALM registration numbers: While the Vessel and Trailer are stored at the SALM Prenises under this Agreement, OWNER agrees to keep a sticker on them with a SALM registration number.

8. Maritime Lien: SALM shall have a maritime lien against the above described Vessel, her gear, equipment, appurtenances and contents, pursuant to Section 328.17, Florida Statutes and other applicable maritime laws, for unpaid sums due under this Agreement for the use of the Premises or for damages or injury caused or contributed to by the above described Vessel, or by OWNER or its crew, guests, or agents to any docks or property, both personal and real, of SALM or of any other person or vessel on the Premises, including, but not limited to, damage to appurtenances and contents, pier, piling, docks, wharf, personal injury, damage to other vessels, pollution by sinking, collision, fire or other losses. In any action in rem or in personam by SALM to enforce a lien of any nature, any bond pursuant to law releasing the Vessel to OWNER shall include an amount sufficient to cover SALM's attorney's fees and costs, provided that SALM may have the amount of any bond posted increased to ensure the posted amount adequately covers all amounts claimed, including interest, costs and attorneys' fees. SALM, at its option, may make use of Federal Admiralty procedure pursuant to Supplement Admiralty Rule C. OWNER agrees to be notified at eight the above Mailing Address or e-mail address in connection with the notice as required under Section 328.17, Florida Statutes.

9. Limitation of Liability: SALM and its Agents shall have no liability for the care and protection of the Vessel. The use of the Dock Space and facilities on Premises is at the sole risk of OWNER. SALM shall not be liable to, and hereby releases, OWNER, for loss, damage or injury to persons [including death] or property, including the Vessel and any other vehicles on the Premises, their contents, gear or equipment, whether such loss, damage or injury is due to fire, theft, vandalism, collision, windstorms, hurricanes, wakes, and acts of God, the provision of or failure to provide security, or other causes, including negligence by SALM or SALM's officers, directors, shareholders/members, employees, contractors or agents (collectively "Agents"). None of SALM's Agents shall ever have any personal liability to OWNER. OWNER waives all rights to economic losses, consequential damages, punitive damages, or special damages of any kind.

10. Tug and Hoist Only SALM personal may use the SALM tug to transport the Vessel on the Premises but OWNER may use his own vehicle. OWNER may use the SALM hoist to transfer the vessel in and out of the water. OWNER hereby represents and warrants that he is knowledgeable about the use of the hoist and will use same in a safe manner at all times. If the OWNER has any reservations about the use of the hoist he agrees to discuss them with a SALM representative before its use.

11. Heavy Weather: Owners are encouraged to remove the Vessel from the premesis when heavy weather threatens. If that is not possible, and when instructed by SALM, the OWNER shall (a) remove and store all sails, biminis, covers, canvas, and loose items. (b) secure hatch covers, and (c) lash the Vessel to the Trailer. OWNER grants SALM the right in its sole discretion to move the Vessel to the safest location on the Premises, consistent with the rights of other Vessel owners and SALM property.

12. Indemnification: OWNER agrees to indemnify, defend and hold SALM and its Agents harmless against any loss, damage or claim arising out of OWNER's (or OWNER's family members', crew, guests, invitees. perrmitees, or licensees) use of the SALM docks and Premises, the operation of the Premises, the operation of the vessel, or failure to comply with the terms of this Agreement even if such loss, damage or claim results from SALM's negligence The foregoing shall Include OWNER's obligations to pay all attorneys' fees and court costs incurred by SALM in connection with any matter covered by the foregoing, regardless of whether suit is brought or any appeal is taken therefrom.

13. Continuation, Default and Termination: This agreement shall continue from month to month until the first of the following occurs:

A. Each of the following shall be an event of default ('Default") under this Agreement (a) OWNER fails to make any payment when due; (b) OWNER fails to perform any other material obligation under this Agreement; (c) OWNER vacates the SALM Premises without notice to SALM for more than seven [7] days, (d) OWNER uses the Premises for purposes not expressly permitted herein, or (e) the Vessel is not actively used for a period of six (6) months. In the event of a Default, SALM may terminate this Agreement immediately and without Notice, in which case OWNER's obligations under this Agreement shall survive. Upon termination, SALM may (a) remove the Vessel from the Premises at OWNER's risk; (b) sell the Vessel at a nonjudicial sale in accordance with applicable law. including, F.S. 328.17; (c) pursue all other remedies available to it at law and equity under applicable state, federal and maritime laws; or (d) may collect any unpaid fees from OWNER. Upon termination, OWNER may not remove the Vessel from the Premises. However, upon termination of this Agreement and payment or all outstanding payments, OWNER shall within 24 hours remove the Vessel from the Premises. SALM’s rights and remedies hereunder are cumulative in nature, and pursuit of any particular remedy shall not be deemed an election of remedies or a waiver of any remedies available hereunder or otherwise available in law. In the event of any Default hereunder including, but not limited to, recovery in whole or in part for services, dock or dry storage rental charges, in any court, either in rem or in personam, OWNER hereby agrees to pay all court costs together with attorneys' fees and interest and the vessel shall be responsible for such costs, fees and interest. Should a suit result against the Vessel, OWNER agrees and Consents to have SALM appointed as substitute custodian.

B. The OWNER may terminate this Agreement at any time, providing that now amount of money is due to SAMN under the Agreement. Upon termination of this Agreement by the OWNER, OWNER shall within 24 hours remove the Vessel from the Premises. Any money owed by SALM to the OWNER shall be refunded.

14. Attorneys’ Fees and Costs. The prevailing party in any litigation arising out of or in any manner relating to this Agreement, including the declaration of any rights or obligations under this Agreement, shall be entitled to recover from the losing party reasonable attorneys' fees and costs.

15. Compliance.

A. This Agreement confers no leasehold interest and does not constitute a bailment. OWNER shall retain custody of, control of, and access to the Vessel and/or Trailer. SALM makes no warranties, express or implied, as to the condition of the Premises. OWNER acknowledges that OWNER has had an opportunity to inspect the Premises prior to execution of this Agreement and agrees to accept the Premises in its current "as-is" "where Is" condition. OWNER agrees not to use any of the offices, classroom, shower on the SALM premises.

B. This Agreement shall be governed by and interpreted in accordance with the federal maritime law of the United States, and the law of the State of Florida where not preempted by federal maritime law. Any legal action regarding this Agreement shall be conducted or litigated in the Miami-Dade County, Florida. OWNER agrees to be subject to: zoning restrictions, prohibitions and other requirements imposed by governmental authority; restrictions and matters common to the Premises, rights of way, and public utility easements of record.

C. OWNER agrees to comply, and OWNER shall cause all guests, agents, brokers and Invitees to comply with all federal, state and local laws pertaining to boating, along with all conditions of this Agreement. This Agreement shall govern the conduct of the Vessel's crew, agents and/or invitees as well as all other persons connected in any way whatsoever to the Vessel and who are on the Premises. This Agreement shall govern the conduct of the Vessel's crew, agents and/or invitees as well as all other persons connected in any way whatsoever to the Vessel and who are on the Premises.

16. Insurance: During the term of this Agreement, the OWNER will maintain property insurance and not less than Three Hundred Thousand Dollars ($300,000) liability insurance coverage on the Vessel and will provide SALM with the declaration page of the insurance policy.

17. No Transfers: OWNER may not transfer any of its rights under this Agreement without SALM's consent, which may be withheld in SALM's sole and absolute discretion.