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TERMS AND CONDITIONS / MEMBERSHIP AGREEMENT

THIS AGREEMENT is made between LAKE TOYS AUSTIN , LLC., (the "LTA"), and the undersigned individual. LTA operates a boat club (the "Boat Club") in and around Austin, Texas, which provides access to water vehicles to its members. The undersigned wishes to become a member of the Boat Club. Accordingly, the parties agree as follows:

1) FEES – Member agrees to pay the membership dues and fees set forth below.

Member shall pay LTA membership dues of Three thousand eight hundred eighty-four dollars plus tax ($4,088 plus tax of $296), for the Initial Term of this Agreement, which sum shall be paid in 12 equal installments of Three-Hundred-twenty-three Dollars and sixty-seven cents ($299 plus tax of $24.67) per month plus Five-hundred and forty-one dollars and twenty-five cents ($500 plus $41.25 sales tax). Beginning the Effective Date (as that term is defined below). If this Agreement is extended in accordance with Section 2 below, then Member shall continue to pay Three-Hundred-twenty-three Dollars and sixty-seven cents ($299 plus tax of $24.67) per month until such amount is changed by LTA in accordance with Section 2.

Member shall pay all fuel charges and other various charges for which Member is liable in accordance with this Membership Agreement or the Rules and Regulations of the Boat Club (the "Club Rules").

Member shall reimburse LTA for the cost of any equipment or any other LTA property that is lost or damaged during Membe's reservation period or while in Member's possession.

All sales tax and/or other taxes arising from the payments of fees, membership dues, and other charges hereunder.

2) Member shall provide LTA with a credit card and authorization to charge that credit card for the monthly membership dues and any other charges or fees that may arise. Should the credit card be denied for any charges owed pursuant to his Agreement, LTA will promptly notify Member of the amount owed by Member to LTA, and Member will pay all such amounts within ten days of receipt of the notice. If such payment is not made within the ten-day period, then a $25.00 late fee will be assessed and all remaining membership dues owed for the Initial Term will become immediately due and payable. If Member defaults on any payment owed hereunder, then Member's access to Boat Club property shall immediately be suspended until such time as all of the payments have been made. A $25.00 fee will be assessed for all checks returned for non-sufficient funds. All funds paid by Member to LTA are non-refundable.

3) LENGTH OF AGREEMENT; CANCELLATION POLICY – The initial term of this Agreement (the "Initial Term") shall be for one year, beginning on Today's Date (the "Effective Date"), and ending on one year from today's date. At the end of the Initial Term, this Agreement shall renew and extend on a month to month basis (each a "Renewal Term"), under the same terms and conditions. However, LTA may increase or decrease the membership dues by providing Member with written notice at least thirty days prior to such increase or decrease only after the initial contract has expired. The "Initial Term" and all "Renewal Terms".

This Agreement may be terminated by the Member at the end of the year contract by providing LTA with written notice specifying the date of termination at least thirty days prior to such date of termination. The member can not terminate the agreement before the year contract is up. LTA may terminate this Agreement immediately at any time by providing written notice to Member specifying the date of termination, provided that Member is released of any obligation to pay fees beyond the date that the club terminates the membership. Upon termination of this Agreement, the Member shall have no further rights and LTA shall have no further obligations or responsibilities of any kind to Member. Member shall remain liable for any and all fees that were incurred prior to the date of termination.

4) OBLIGATIONS OF The Boat Club: For the Term of this Agreement, LTA shall:

Provide Members, on a non-exclusive, first come, first serve basis, with access to LTA's: (i) water vehicles; (ii) life jackets and ski jackets; and (iii) other water related recreational equipment;

Provide maintenance on all boats and related equipment;

Provide personnel and facilities to handle reservations and scheduling for Members in accordance with the Club Rules;

Provide emergency boat towing service for LTA boats that break down as a result of mechanical failure through no fault of the operator. Boats that break down as a result of operator error (e.g. bent prop, run out of gas, ski rope tangled in propeller, etc) will be towed at the Member’s expense.

5) LTA's duty to perform the foregoing obligations shall be fully excused: (a) if LTA is reasonably unable to perform because of fire, storm, tornado, hurricane or other inclement weather condition, or other act of God; (b) if fuel, equipment or materials are unavailable; (c) upon mechanical breakdowns of equipment; or (d) upon other circumstances which are beyond the reasonable control of LTA.

6) ADDITIONAL MEMBER OBLIGATIONS: Member shall:

Prohibit and prevent any person who: (i) is under twenty-one (21) years of age; (ii) who has not completed the Boat Club's boating safety orientation, or (iii) who is under the influence of alcohol or other drug, from operating any of LTA's boats. Member represents that Member is at least twenty one (21) years of age at the time of signing this Agreement;

Prohibit and prevent any person from using, transporting or possessing any illegal drug or other illegal substance while in the possession of and/or while on board any of LTA's boats;

Pay all fees, membership dues, and charges as and when due;

Fully abide by, and cause all of Member family members, guests, and other invitees ("Invitees") to (i) abide by all Club Rules and all local, state and federal laws, rules and regulations, and (ii) execute and deliver to LTA a signed waiver of liability, which is available for download at LTA's website;

At the beginning of each reservation period, thoroughly inspect the water vehicle to ensure that it is functioning correctly and safely;

Use all LTA boats, and related equipment in a reasonable, safe, and prudent manner;

Promptly return all boats and other LTA property immediately upon the end of the reservation period in substantially the same condition they were in at the beginning of the reservation period and promptly report any damage or maintenance concerns to LTA;

Return boats at the end of each reservation period with a full tank of fuel;

Pay LTA, immediately upon demand, for any lost equipment and for all damages to any LTA boat or equipment, occurring while in the control of the Member or Member's Invitees. Pay any other person, immediately upon

Not use any LTA boat for any commercial purpose or remove any LTA boat from the water.

7) ACKNOWLEDGMENT OF RISKS; HOLD MARMLESS AGREEMENT. Member acknowledges that boating and other water sports are inherently risky activities. The risks of participating in water sports include, but are not limited to, (1) changing water flow, currents, wave action and ships’ wake; (2) collision with other participants, other watercraft, or other objects; (3) wind shear, inclement weather, lightning and other weather extremes; (4) Member’s sense of balance, physical coordination, ability to operate equipment, ability to swim; (5) collision, capsizing, sinking, or other hazard that may result in injury and/or drowning; (6) equipment failure or operator error; (7) heat or sun-related injuries including sunburn, sunstroke, or dehydration; and (8) fatigue or other physical conditions that may diminish Member’s reaction time and increase the risk of accident.

BY ENTERING INTO THIS AGREEMENT, MEMBER AGREES TO ASSUME RESPONSIBILITY FOR ALL THE RISKS OF THE ACTIVITY, WHETHER IDENTIFIED ABOVE OR NOT, AND AGREES THAT MEMBER’S PARTICIPATION IS PURELY VOLUNTARY. MEMBER ASSUMES FULL RESPONSIBILITY FOR ANY BODILY INJURY ACCIDENT, ILLNESS, PARALYSIS, DEATH, LOSS OF PERSONAL PROPERTY AND EXPENSES THEREOF AS A RESULT OF ANY ACCIDENT WHICH MAY OCCUR WHILE MEMBER IS PARTICIPATING IN ANY ACTIVITY UNDER THIS AGREEMENT.

BY ENTERING INTO THIS AGREEMENT, MEMBER RELEASES, DISCHARGES, INDEMNIFIES AND HOLDS HARMLESS LTA AND ITS AFFILIATES INCLUDING IT PRINCIPALS, DIRECTORS, OFFICERS, AGENTS, EMPLOYEES AND VOLUNTEERS, AND THEIR INSURERS ("AFFILIATES") FROM ANY AND ALL LIABILITY OF ANY NATURE FOR ANY AND ALL INJURY OR DAMAGE, INCLUDING DEATH, TO MEMBER OR ANY OTHER PERSON AS A RESULT OF MEMBER'S PARTICIPATION IN THE BOAT CLUB.

MEMBER FURTHER AGREES TO INDEMNIFY AND HOLD LTA AND LTA'S AFFILIATES HARMLESS FROM AND AGAINST ANY AND ALL LIABILITY OF ANY NATURE ARRISING FROM CLAIMS BROUHT BY INVITEES OF MEMBERS FOR ANY REASON, AS WELL AS FROM CLAIMS BROUGHT BY OTHER THIRD PARTIES ARISING AS A RESULT OF MEMBER’S USE OF LTA'S WATER VEHICLES.

MEMBER HAS READ AND UNDERSTANDS THE ABOVE WAIVER OF LIABILITY AND AGREEMENT TO INDEMNIFY: ___________

8) LIMITATION OF LIABILITY – LTA SHALL NOT BE LIABLE FOR ANY INDIRECT OR CONSEQUENTIAL DAMAGES. THE LIABILITY OF LTA FOR ANY CLAIM ARISING UNDER THIS AGREEMENT, EXCEPT FOR LIABILITY RESULTING FROM THE FRAUD, GROSS NEGLIGENCE, OR WILLFUL MISCONDUCT OF LTA, IS LIMITED TO THE MEMBERSHIP DUES PAID BY MEMBER DURING THE INITIAL TERM.

9) MEMBER DEFAULT – If Member fails to fully comply with any of the above obligations, Member shall be in default of this Agreement and LTA shall have the right to immediately terminate this Agreement upon written notice to Member. In such an event, Member shall have no further rights of any kind under this Agreement.

If Member has failed to timely pay any fees or other charges owed pursuant to this Agreement or the Club Rules all reservations made by Member shall be immediately cancelled, and Member shall have no right to reserve or use any of LTA's boats or equipment until all fees are paid in full.

10) MEMBERSHIP PRIVILEGES: Nothing in this Agreement shall be construed to imply any right of ownership in any of LTA's boats, equipment, or other assets. Member may make reservations with the Boat Club in accordance with the Club Rules.

11) ENTIRE AGREEMENT; MODIFICATION; This Agreement, together with the Club Rules, contains the entire agreement by and between the Parties with respect to the subject matter hereto, and supersedes any and all prior agreements or understandings, oral or written, between the parties. No supplement, modification or amendment of this Agreement or waiver of any provision of this Agreement will be binding unless executed in writing by all parties to this Agreement. No waiver of any of the provisions of this Agreement will constitute or be deemed to constitute a waiver of any other provision of this Agreement (regardless of whether similar), nor will any such waiver constitute a continuing wavier unless otherwise expressly provided. In the event there is any conflict between the Club Rules and this Agreement, this Agreement shall prevail unless such conflicting version of the Club Rules is agreed to in writing by Member.

12) DISCLAIMER OF WARRANTIES: This Agreement contains the entire Agreement of the parties and may not be modified except in writing and signed by both parties. LTA HAS NOT MADE, AND DOES NOT MAKE, ANY WARRANTIES OF MERCHANTABILITY, OR OF FITNESS FOR A PARTICULAR PURPOSE, OR ANY OTHER WARRANTIES OR REPRESENTATIONS OF ANY KIND, EXCEPT AS MAY BE EXPRESSLY SET OUT IN THIS AGREEMENT.

13) SUBJECT TO THE CLUB RULES: It is understood that LTA has enacted certain Club Rules. Member represents and warrants that Member has received a copy of the Club Rules, carefully reviewed the Club Rules, and agrees to abide by and be bound by the Club Rules. Member is responsible for ensuring that all of Member's Invitees know and abide by the Club Rules. LTA reserves the right to amend such Club Rules from time to time as it deems appropriate, by providing all Boat Club members with ten days written notice of such amendments.

14) PLACE OF PERFORMANCE; APPLICABLE LAW: This Agreement will be governed by the substantive laws of the State of Texas. Any civil action arising and initiated pursuant to this Agreement must proceed either in the state or federal courts sitting in Travis County, Texas. Each party hereby consents to the exercise of personal jurisdiction over him or it by such courts.

15) JOINT AND SEVERAL LIABILITIES: Every Member signing this Agreement shall be jointly and severally liable and responsible for the performance of all duties and obligations of the Agreement.

16) COLLECTION ACTIVITIES: Member shall be liable for expenses incurred by LTA, including attorney's fees, in the event LTA has to engage an attorney, a collection agency or take other action to collect past due fees, membership dues and charges owed under this Agreement.

17) INVALIDITY: If any provision of this Agreement is declared or found to be illegal, unenforceable, or void, in whole or in part, then the parties will be relieved of all obligations arising under such provision, but only to the extent that it is illegal, unenforceable or void, it being the intent and agreement of the parties that this Agreement will be deemed amended by modifying such provision to the extent necessary to make it legal and enforceable while preserving its intent or, if that is not possible, by substituting therefor another provision that is legal and enforceable and achieves the same objectives.

18) Notice: Any notice, demand or request required or permitted to be given or made under this Agreement will be in writing and may be made personally, by overnight or express delivery, by United States registered or certified mail, postage prepaid, telecopied to the other party at the address specified below, or sent by email. Notice delivered personally or by email will be deemed given when acknowledged in writing by the person to whom it is given. Notice sent by facsimile will be deemed given when transmitted, provided that the sender obtains written confirmation that the transmission was sent. Notice sent by overnight delivery or express mail will be deemed given 24 hours after having been sent. Notice sent by priority certified mail or registered mail will be deemed given 48 hours after it is mailed. Either party may change its address for Notice by notifying the other party in the manner provided in this Article. Should Member’s address or email address change, Member shall promptly notify LTA of such change.

19) BINDING EFFECT; ASSIGNMENT: This Agreement shall be binding not only upon the undersigned parties, but also upon their respective heirs, legal representatives, successors and assigns. Member may not assign this Agreement or any of Member's rights and obligations hereunder.