Fill and Sign the Lessee is Authorized to Use the Abovedescribed Horse for Showing and Recreational Purposes Only Form

PERFORMANCE HORSE LEASE AGREEMENT WIT N ESS t h is a gre em en t m ad e t h e _ ____ d ay o f _ ______, 2 0__, b y a n d b etw een ( In se rt L esso r s n am e) h ere in afte r r e fe rre d to a s
Lesso r a n d ( In se rt L esse e s n am e) h ere in afte r r e fe rre d to a s L esse e. W HER EA S, L esso r i s t h e o w ner o f a c erta in H ors e d esc rib ed a s: N am e: B re ed : R eg is tr a tio n N um ber: A ND W HER EA S L esse e d esir e s to le ase s a id H ors e fo r p urp ose s o f rid in g a n d o r s h ow in g th e ho rs e i n c o m petitio n; IT IS N O W T H ER EFO RE A G REED as fo llo w s: L esso r here b y le ase s th e ab ove- desc rib ed H ors e t o L esse e s u bje ct t o t h e f o llo w in g t e rm s a n d c o nditio ns: 1 . Lea se T erm . T he te rm o f th is le ase s h all b eg in (I n se rt s ta rt d ate ) a n d te rm in ate o n (in se rt t e rm in atio n d ate ). (I n se rt L esse e o r L esso r a s a p pro pria te ) is re sp onsib le fo r m ak in g a n y a n d a ll a rra n gem en ts a n d th e c o st th ere o f f o r d eliv erin g th e H ors e to L esso r e x cep t a s o th erw is e s p ecif ie d here in . I f f o r a n y r e aso n t h e H ors e i s l e ft o n t h e p re m is e s o f L esse e b y L esso r f o r m ore t h an 1 0 d ay s fo llo w in g th e te rm in atio n d ate , L esso r s h all p ay th e s u m o f $ 15.0 0 p er d ay fo r fe ed a n d b oard to Lesse e, p lu s a n y n ecessa ry a n d r e aso nab le v ete rin ary c o sts o r r e la te d e x pen se s. 2 . Lea se p aym en ts . L esse e a g re es to p ay L esso r th e fo llo w in g s u m s: T he fir s t p ay m en t o f $ sh all b e p aid u pon o n th e e x ecu tio n o f th is L ease . T here afte r, th e s u m o f $ s h all b e p aid ( in se rt m onth ly , q uarte rly , e tc .) . A f in al p ay m en t o f $ s h all b e p aid 3 0 d ay s b efo re t h e t e rm in atio n d ate o f t h e l e ase . 3 . R en ew al o f L ea se T erm . T his le ase a g re em en t m ay b e re n ew ed o r e x te n ded o nly u pon writte n a g re em en t o f t h e p artie s.4 . P erm it te d U se s, P ro h ib it e d U se s, A ctiv it ie s o r E ven ts . L esse e i s a u th oriz ed t o u se t h e a b ove- desc rib ed H ors e f o r s h ow in g a n d r e cre atio nal p urp ose s o nly . L esse e s h all n ot u se t h e H ors e f o r a n y bre ed in g p urp ose s w hats o ev er. I f a p plic ab le , a s ta te m en t o f s p ecif ic p ro hib ite d u se s o f s a id H ors e re la tin g t o f o rm s o f e x erc is e , t y pes o f t r a in in g, e v en ts o r a ctiv itie s m ay b e a tta ch ed h ere to a s E xhib it A t o t h is A gre em en t a n d i n itia le d b y t h e p artie s.5 . R ig h t o f F ir st R efu sa l. I f a t a n y t im e d urin g t h e t e rm o f t h is l e ase , o r f o r 6 m onth s t h ere afte r, Le sso r p uts th e H ors e u p f o r s a le , L esse e s h all h av e th e f ir s t r ig ht o f r e fu sa l a t a n y p ric e o ffe re d b y any w illin g b uyer. 6 . W arra n ty b y L esso r. L esso r w arra n ts th e a b ov e-d esc rib ed H ors e is s o und a n d fit to rid e. Le sse e m ay , a t L esse e s o ptio n a n d e x pen se h av e th e H ors e e x am in ed b y a lic en se d v ete rin aria n prio r to ta k in g p osse ssio n o f th e H ors e . If th e v ete rin aria n o pin es th e H ors e is n ot fit o r s o und, Lesse e m ay te rm in ate a n d p ay m en ts m ad e h ere u nder s h all b e r e fu nded e x cep t a t th e s o le d is c re tio n of L esso r. Lesso r m ak es no oth er w arra n tie s, ex p re ss or im plie d , oth er th an as sp ecif ic ally desc rib ed a b o ve.7 . Care an d m ain te n an ce. L esse e sh all assu m e all re sp onsib ility fo r th e fu ll care an d main te n an ce o f th e H ors e d urin g th e te rm o f th is L ease a n d s h all p ro vid e r e aso nab le f a cilitie s a n d co nditio ns fo r b oard in g, fu rn is h g ood q uality fe ed , a d eq uate w ate r, e x erc is e , m ed ic al/v ete rin ary care , v ario us r e la te d s e rv ic e s i n a m an ner c o nsis te n t w ith g ood h ors e b oard in g a n d k eep in g p ra ctic es in th e S ta te of (In se rt Y ou r S ta te ) at L esse e s ex p en se . Lesse e m ay tr a n sp ort th e H ors e to com peti tio ns w ith th e S ta te o f (In se rt y our S ta te ), b ut m ay n ot re m ove th e H ors e fro m th e S ta te with out th e e x pre ss w ritte n c o nse n t o f L esso r. L esse e s h all in fo rm L esso r o f a n y lo catio n(s ) w here th e H ors e i s t o b e b oard ed f o r m ore t h at 7 d ay s i n a d van ce o f a n y c h an ge o f l o catio n. 8 . N ecessa ry D ocu m en ts . L esse e a n d L esso r s tip ula te a n d a g re e to e x ecu te , re co rd a n d/o r de liv er a n y d ocu m en ts re q uir e d b y a n y a p plic ab le b re ed o rg an iz atio n o r re g is tr y w hic h m ay b e re q uir e d to c o m ply w ith th e ru le s a n d/o r re g ula tio ns o f sa id b re ed o rg an iz atio n o r re g is tr y w ith reg ard t o t h is l e ase . L esse e s h all p ay a ll c o sts a n d f e es p erta in in g t h ere to a s m ay b e r e q uir e d b y s a id bre ed o rg an iz atio n o r r e g is tr y . 9 . T erm in atio n b y L esso r. L esso r m ay , a t L esso r s d is c re tio n, te rm in ate th is le ase f o r c au se pu rs u an t t o t h e f o llo w in g o ptio ns:(A ). L esso r m ay , a t L esso r s d is c re tio n d ecla re L esse e in d efa u lt f o r a n y s u bsta n tia l b re ach o f a n y term o f th e a g re em en t. L esso r s h all g iv e L esse e a m in im um o f 1 5 d ay s w ritte n n otic e o f d efa u lt, Le sso r s in te n tio n to te rm in ate th is ag re em en t an d th e sp ecif ic g ro unds th ere fo r. Lesse e sh all co rre ct a n y s u ch d efa u lt o r b re ach a s d esc rib ed in th e w ritte n n otic e o f d efa u lt w ith in 1 0 d ay s o f re ceip t o f s a id n otic e a n d n o tif y L esso r in w ritin g o f s a id c o rre ctio n o r c u re o f th e d efa u lt o r b re ach desc rib ed b y L esso r. I f L ess e e t im ely c u re s t h e s p ecif ie d d efa u lt o r b re ach a s s e t f o rth i n t h e w ritte n no tic e o f d efa u lt, t h is a g re em en t s h all c o ntin ue i n f u ll f o rc e a n d e ffe ct. I f L esse e f a ils t o c u re a n y o f th e s p ecif ie d b re ach es, t h is a g re em en t s h all t e rm in ate . I n t h e e v en t o f t e rm in atio n o f t h is a g re em en t by L ess o r, L esso r sh all m ak e all necessa ry arra n gem en ts to deliv er th e H ors e to L esso r s po sse ssio n. L esse e s h all b e lia b le to L esso r f o r th e r e aso nab le c o st o f tr a n sp orta tio n a n d v ete rin ary care a ris in g f r o m t h e b re ach es g iv in g r is e t o t h e t e rm in atio n o f t h is a g re em en t b y L esso r.(B ). I f u pon in sp ectio n o f th e H ors e a n d/o r th e f a cilitie s w here th e H ors e is k ep t b y L esse e, L esso r re aso nab ly d ete rm in es th e c o nditio ns p ro vid ed b y L ess e e p la ce th e h ealth , s a fe ty a n d/o r w elf a re o f th e H ors e in d an ger, L esso r m ay te rm in ate th is le ase im med ia te ly a n d ta k e p osse ssio n o f th e H ors e . Th e c o st o f t r a n sp orta tio n o f t h e H ors e t o L esso r u pon w ean in g w ill b e p aid b y L esse e.1 0 . R is k o f L oss. L esse e s h all b ear a ll r is k o f l o ss w ith r e g ard t o t h e d eath o r i n ju ry t o t h e H ors e . Le sse e a g re es t o m ain ta in a p olic y o f e q uin e m orta lity i n su ra n ce i n su rin g t h e H ors e i n t h e a m ount o f $( In se rt in su ra b le a m ount h ere ). I n a d ditio n, in th e e v en t o f s ig nif ic an t in ju ry to th e H ors e w hile in th e c are a n d c u sto dy o f L esse e w hic h re su lts in p erm an en t im pair m en t to th e H ors e  s b re ed in g an d/o r p erfo rm an ce a b ility , L esse e a g re es to p ay th e su m o f $ (I n se rt in su ra b le a m ount h ere ) to L esso r i n c o m pen sa tio n t h ere o f, a t w hic h t im e r e g is te re d o w ners h ip o f t h e H ors e w ill b e t r a n sfe rre d to L esse e b y L esso r. 1 1 . In heren t R is k s a n d A ssu m ptio n o f R is k . L esse e a ck now le d ges th ere a re in here n t ris k s asso cia te d w ith e q uin e a cti v itie s s u ch a s d esc rib ed h ere in , a n d h ere b y e x pre ssly a ssu m es a ll ris k s asso cia te d w ith p artic ip atin g i n s u ch a ctiv itie s. T he i n here n t r is k s i n clu de, b ut a re n ot l im ite d t o t h e pro pen sity of eq uin es to beh av e in w ay s su ch as; ru nnin g, buck in g, bitin g, kic k in g, sh yin g, st u m blin g, r e arin g, f a llin g o r s te p pin g o n, w hic h m ay r e su lt in a n in ju ry , h arm o r d eath to p ers o ns on o r a ro und th em ; th e u n pre d ic ta b ility o f e q uin es re actio ns to su ch th in gs a s so unds, su dden mo vem en t a n d u nfa m ilia r o bje cts , p ers o ns o r o th er a n im als ; c erta in h azard s su ch a s su rfa ce a n d su bsu rfa ce c o n ditio ns; c o lli s io ns w ith o th er a n im als ; th e lim ite d a v aila b ility o f e m erg en cy m ed ic al ca re ; a n d th e p ote n tia l o f a p artic ip an t to a ct in a n eg lig en t m an ner th at m ay c o ntr ib ute to in ju ry to the p artic ip an t o r o th ers , s u ch a s fa ilin g to m ain ta in c o ntr o l o ver th e a n im al o r n ot a ctin g w ith in such p artic ip an t’ s a b ility . W arn in g-In se rt S ta te W arn in g H ere1 2 . L ia b ilit y I n su ra n ce. L esse e s h all, a t L esse e s e x pen se , a t a ll tim es d urin g th e te rm o f th is Le ase m ain ta in a p olic y o f lia b ility in su ra n ce in su rin g a g ain st a n y in ju ry o r d eath o f p ers o ns in a n d aro und th e p re m is e s w here th e H ors e is to b e k ep t. L esse e sh all c au se L esso r to a p pear a s a n ad ditio nal n am ed -in su re d f o r lia b ility p urp ose s u nder s a id p olic y o f in su ra n ce. F urth er, L esse e s h all pr o vid e a c o py o f t h e D ecla ra tio ns P ag e t o L esso r w ith in 3 0 d ay s o f t h e e x ecu tio n o f t h is L ease .1 3 . In dem nif ic a tio n . L esse e s h all in dem nif y , h old h arm le ss a n d d efe n d L esso r a g ain st a n y a n d all c la im s, d em an ds, o blig atio ns, c o m pla in ts , ju dgm en ts , o rd ers o r a n y o th er m atte r a ris in g o ut o f th e H ors e  s c o nduct o r a ctio ns. L esse e fu rth er a g re es to in dem nif y L esso r fro m a n d a g ain st a n y cla im s o f lie n o r e n cu m bra n ce a g ain st th e a b ove-d esc rib ed H ors e , w heth er in cu rre d b y c o ntr a ct o r by o p era tio n o f l a w .14 . A ssig n m en t. T his l e ase c an not b e a ssig ned b y L esse e i n a n y m an ner, n or m ay L esse e p erm it th e u se o f t h e s u bje ct H ors e f o r a n y p urp ose n ot o th erw is e s e t f o rth h ere in .15 . R ig h t o f i n sp ectio n . L esso r s h all h av e t h e r ig ht t o i n sp ect L esse e s f a cilitie s a n d t h e H ors e a t an y re aso nab le tim e. L esso r sh all g iv e tw en ty fo ur (2 4) h ours n otic e o f in te n t to c o nduct su ch in sp ectio n. I n t h e e v en t t h e c o nditio ns i n w hic h t h e H ors e a re k ep t a re s u bsta n dard o r u nsa tis fa cto ry to L esso r, or if th e H ors e ap pears to be neg le cte d by L esse e, L esso r m ay , in L esso r s so le dis c re tio n, e x erc is e a n y r ig h ts s e t f o rth i n P ara g ra p h 9 h ere in . 1 6 . W aiv er. N o d ela y o r f a ilu re to e x ert a n y r ig hts o r r e m ed ie s a p ply in g b y a n y p arty p erta in in g to a n y b re ach o f th is a g re e m en t s h all in a n y m an ner im pair s u ch rig ht o r re m ed ie s n or s h all s u ch dela y c o nstitu te a w aiv er o f su ch rig ht o r a cq uie sc en ce th ere in ; w aiv er o f a n y sin gle b re ach o r defa u lt s h all n ot b e d eem ed a s a w aiv er o f a n y o th er v io la tio n o f t h e c o ven an ts s e t f o rth h ere in u p t o the tim e o f s a id w aiv er o r a t a n y tim e th ere afte r. T he w aiv er o f a n y r ig ht o r r e m ed y p urs u an t to th is ag re em en t m ust b e in w ritin g in o rd er to b e b in din g u pon th e p artie s. A ny an d all re m ed ie s he re u nder o r im pose d b y o pera tio n o f la w o th erw is e a v aila b le to L esso r sh all b e c u m ula tiv e in natu re a n d n ot i n t h e a lte rn ativ e.1 7 . N otic es. A ny n otic es r e q uir e d u nder t h e t e rm s o f t h is a g re em en t s h all b e s e n t t o t h e p artie s a t th e a d dre sse s s e t fo rth b elo w . E ach p arty s h all n otif y th e o th er o f a n y c h an ge in m ailin g a d dre ss with in 3 0 d ay s o f s u ch c h an ge o f a d dre ss. 1 8 . B in din g e ffe ct. T he te rm s a n d c o nditio ns o f th is L ease s h all b e b in din g u pon a n y e x ecu to rs , he ir s , a d m in is tr a to rs a n d/o r a ssig ns o f L esso r a n d L esse e a s if th ey a re th e o rig in al p artie s u nle ss oth erw is e a g re ed t o i n w ritin g b y t h e p artie s.1 9 . Applic a b le L aw . It is h ere b y a g re ed th at th e te rm s o f th is L ease sh all b e c o nstr u ed in acco rd an ce w ith a n d g overn ed b y t h e L aw s o f t h e S ta te o f Y ou rS ta te .2 0 . Prev ailin g P arty P ro vis io n . If e ith er p arty d efa u lts w ith re sp ect to a n y m ate ria l c o ven an ts co nta in ed h ere in , t h e o th er p arty m ay , b ut i s n ot c o m pelle d t o , d ecla re t h is L ease t o b e t e rm in ate d i n acco rd an ce w ith t h e t e rm s a n d c o nditio ns h ere o f. T he p re v ailin g p arty t o a n y l itig atio n o r a rb itr a tio n here u nder s h all b e e n title d t o r e co ver t h eir r e aso nab le a tto rn ey  s f e es a n d c o sts r e la tin g t o s a m e. 2 1 . E ntir e A greem en t. T his d ocu m en t c o nstitu te s t h e e n tir e a g re em en t b etw een t h e p artie s. A ny ch an ges or am en dm en ts m ust be m ad e in w ritin g an d sig ned by th e partie s here to . A ll mo dif ic atio ns, a d ditio ns o r a m en dm en ts s h all n ot b e c o nsid ere d p art o f th is L ease a g re em en t u nle ss sa m e a re r e d u ced t o w ritin g a n d s ig ned b y t h e p artie s t o b e c h arg ed .D ATE: L esso r: N am e A ddre ssC ity , S ta te , Z ipL esse e: N am e A ddre ssC ity , S ta te , Z ip © 2017 - Cottonwood Equestrian Publications