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BOAT SLIP _ ______

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  • pg 1
									                                             Jones Harbor Marina
                                               P.O. Box 10027
                                             Austin, Texas 78766


Boat slip #


                                           MARINA SLIP AGREEMENT
        THIS MARINA SLIP LICENSE AGREEMENT (the “Agreement”) is made and entered into this 30th
day of _June 2006__, in Travis County, Texas, by and between SANDY CREEK INVESTORS, LTD., a
Texas limited partnership (“Licensor”) and (“Boat Owner”).

1.       Boat Owner Information:


         Name                                                       Address


         City                                                       State                               Zip


         Home Phone                                                 Business Phone            Mobile Phone


         Fax No.                                                    E-Mail Address


         Vessel Owner’s Name (if different from person leasing slip)


         Drivers License Number/State


         Boat Name                    Type                          Manufacturer                      Year

         Insurance Carrier:


         Texas Boat Registration Number                    Length           Color    Trailer License Number

2.       License of Boat Slip. Licensor does hereby license to Boat Owner and Boat Owner does hereby
         license a boat slip from Licensor, designated as Boat Slip No. ______ (the “Slip”) at Jones Harbor
         Marina, located at 17545 Reed Park Road, Jonestown, Travis County, Texas (the “Marina Facility”)
                                 Buyer initials _________ __________
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         for the purpose of docking and keeping the Boat Owner’s boat described in Section 1 of this
         Agreement (the “Boat”) at the Marina Facility.

3.       Term. The term of this Agreement shall commence on the ___ day of ____________, 20__ (the
         “Commencement Date”), and shall expire on the ____ day of ______________, 20__ (the “Primary
         Term”). The term of this Agreement shall be automatically renewed for successive periods of one
         (1) year following the expiration of the Primary Term (collectively, the “Renewal Term”) unless Boat
         Owner notifies Licensor or Licensor notifies Boat Owner in writing at least ninety (90) days before
         the expiration of the Primary Term (and each successive Renewal Term, as applicable) that the
         respective party does not desire to renew this Agreement, in which event this Agreement shall
         expire at the end of the Primary Term and/or the applicable Renewal Term (collectively, the
         “Term”). Upon the expiration of the Term (or earlier termination of this Agreement), Licensor shall
         have the right to remove Boat Owner’s Boat to an appropriate storage facility at the expense of
         Boat Owner. Renewal of this Agreement shall be on the same terms as this Agreement, except
         that the License Fee set forth in Section 4 hereof may be adjusted by Licensor to conform to its
         then-current Fee rates.

4.       License Fee. Boat Owner agrees to pay Licensor at the above address, unless otherwise notified
         by Licensor, a license fee in the amount of $__________ per month (the “License Fee”) upon Boat
         Owner’s execution of this Agreement. All License Fees under this Agreement are due and payable
         in advance on the first day of each month without demand, offset or deduction. The License Fee
         for any fractional portion of any month shall be paid on the first day of the term of this Agreement.

5.       Security Deposit. Upon execution of this Agreement, Boat Owner will pay Licensor a security
         deposit in the amount of $________. The security deposit will be returned to Boat Owner, less any
         amounts due Licensor under the terms of this Agreement, at the expiration or termination of this
         Agreement.

6.       Electricity and Other Utilities. Basic electric service will be provided at the expense of Licensor.
         Basic electric service is defined as electricity for hoists, temporary electric appliances and lighting,
         and battery chargers. At Licensor’s discretion, electricity used at the Slip may be separately
         metered and billed each month to Boat Owner. Any electricity used beyond that of basic electric
         service will be at the sole expense of Boat Owner. Water will be provided at no cost to Boat
         Owner. If the Licensor is being billed, then Boat Owner shall pay Boat Owner’s share of Licensor’s
         electric bill on the same day that License Fee is due and payable, but in no event later than 10
         days after Licensor sends Boat Owner said electric bill. Boat Owner understands that this License
         covers no other services. Licensor makes no representations regarding continuing availability of
         any utility service, unless Licensor’s acts or omissions, including the failure to remit payment for
         services, are the cause of an interruption in service. Boat Owner agrees that air conditioners and
         refrigerators on boats may be operated only if the electricity is separately metered and billed to
         Boat Owner.

7.       Use. This Agreement allows Boat Owner to tie the Boat at the Marina Facility, but Licensor does
         not grant the Boat Owner the right to any specific slip, or the right to tie any other boat or vessel to
         the Marina Facility. Licensor shall initially designate which slip is to be used by Boat Owner, and
         the Licensor may change the slip to be used by Boat Owner at any time during the Term of this
         Agreement upon thirty (30) days advance notice to Boat Owner, provided that the new slip is
                                     Buyer initials _________ __________
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         equivalent in size to the prior Slip. If the Boat Owner acquires a different boat to be berthed in the
         Slip, all information in Section 1 above shall be provided to Licensor in writing not less than five (5)
         days prior to the date that the Boat Owner intends to begin berthing such new boat in the Slip. No
         new boat will be placed in the Slip by Boat Owner unless Licensor gives its written consent. The
         Boat Owner covenants and agrees with Licensor that any boat placed in the Slip will be registered,
         identified, marked, equipped and maintained as required by the laws of the State of Texas.

8.       Marina Within Subdivision; Common Areas. The Marina Facility is located within a gated
         community known as The Villas at Harbor Marina (the “Subdivision”). Boat Owner and each guest
         of Boat Owner is hereby granted a license to enter the Subdivision during the Term of this
         Agreement solely for the purposes of (1) vehicular and pedestrian ingress and egress to and from
         the Marina Facility, including use of the parking lot and (2) the use and enjoyment of the marina
         and common areas as detailed below. Boat Owners and their guests shall not trespass upon the
         residences or other areas within the Subdivision not specifically designated for use by the Boat
         Owners. Neither Boat Owner nor any guest of Boat Owner shall commit any damage or waste
         within the Subdivision and each such party shall abide by all rules and regulations applicable to the
         parking areas and other common areas of the Subdivision. Boat Owner shall keep the common
         areas surrounding the Slip clear of trash, debris, personal property or other impediments to safe
         ingress and egress to the other marina slips and common areas. The common areas, as used
         herein shall refer to: (1) the parking area; (2) access structures and walkways; (3) stairs leading to
         the marina; (4) the tram leading to the marina; (5) all lighting on, in and around the Marina,
         including safety lighting; (6) the cabana and any and all restroom facilities available for the use by
         Boat Owner and other lessees; (7) any gates or fencing located in, on or around the Marina; (8) all
         bumpers located around the Slips; (9) utility connections, if any; (10) any other area on, in or
         around the Marina which is common to all users of the marina.

9.       Conduct. The Boat Owner shall not (i) conduct any noisy, offensive, or dangerous activities on or
         around the Slip or the Marina Facility; (ii) create a nuisance to the Marina Facility or the other boat
         owners within the Marina Facility; (iii) interfere with, obstruct or infringe upon the rights of any other
         boat owners at the Marina Facility; (iv) use the Boat as permanent living or sleeping quarters while
         at the Marina Facility; (v) fish within the Subdivision or Marina Facility except from the Boat; or (vi)
         conduct or engage in any dangerous activity while at the Marina Facility. The determination of
         whether the Boat Owner has violated any of its obligations described in the preceding sentence
         shall be within the sole and absolute discretion of Licensor. The Boat Owner shall, at all times,
         comply with all applicable statutes, ordinances, and regulations pertaining to the operation and use
         of its Boat. The use of the Marina Facility is restricted to the Boat Owner, its family, guests and
         invitees only.

10.      Rules of Safe Boating; Texas Water Safety Act Compliance. Boat Owner, its family, guests and
         invitees shall follow the rules of safe boating within the Marina Facility and shall operate the Boat
         so as not to create any disturbing wake. By its execution of this Agreement, Boat Owner confirms
         and acknowledges that it has read and is familiar with the provisions and requirements of the
         Texas Water Safety Act, as amended from time to time (the “Act”), that it agrees that Boat Owner’s
         use and operation of the Boat shall be in strict compliance with the Act and all other applicable
         laws, rules and regulations including those promulgated by the Lower Colorado River Authority and
         that it is responsible for ensuring that Boat Owner’s family, guests and invitees comply with the
         rules of safe boating, the Act and all other applicable laws, rules and regulations.
                                     Buyer initials _________ __________
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11.      No Commercial Activity. Boat Owner shall refrain from any commercial activity within the Marina
         Facility or Subdivision. Unless approved in advance in writing by Licensor, yacht brokers are
         prohibited from showing or demonstrating the Boat or any other boat within the confines of the
         Marina Facility or the Subdivision. Boat Owner may individually negotiate the private sale or trade
         of the Boat at the Marina Facility; provided, however, that “For Sale” signs shall not be displayed
         on the Boat by Boat Owner while such craft is within the Marina Facility. Boat Owner shall not
         operate boat rentals, charter parties or any other commercial endeavor from the Marina Facility
         without the prior written consent of Licensor.

12.      Repair and Maintenance. Other than routine repair and maintenance of a temporary and minor
         nature, Boat Owner shall not personally perform repair or maintenance on the Boat while the Boat
         is moored within the Marina Facility. However, the maintenance and repair shall not in any way
         interfere with others in the marina, i.e., noxious/unpleasant smells, disturbing noises, etc. The work
         shall not in any way obstruct, cause damage to, or cause discoloration of docks, piles, adjacent
         boats, etc. All work must be in compliance with environmental rules and regulations. Any repair or
         maintenance performed by Boat Owner other than routine repair and maintenance must be
         performed outside the Marina Facility. Licensor reserves the right to require any outside mechanic,
         craftsman or other person performing any work on the Boat while on the premises of the Marina
         Facility to first provide Licensor with a certificate of workman’s compensation and liability insurance
         coverage evidencing insurance coverages acceptable to Licensor in its sole discretion, and naming
         Licensor as an additional insured.

13.      Pumping or Sinking. Licensor shall have no obligation to pump water out of the Boat. However, if
         Licensor deems it necessary to pump water out of the Boat in order to prevent it from sinking, then
         Licensor may,but shall not be obligated to, do so and charge Boat Owner for the actual cost of
         such service. Boat Owner agrees to promptly remit to Licensor the sum of all charges for such a
         service. If the Boat should sink while it is located within the Marina Facility, then the Boat Owner
         shall be solely responsible for promptly raising said Boat and Licensor shall have no responsibility
         therefor. If five (5) days have passed (or sooner, if a dangerous or navigational hazard exists in
         the sole and absolute discretion of Licensor) and Boat Owner has not raised or removed the
         sunken Boat, then Licensor may cause the Boat to be raised and removed at the sole cost and
         expense of the Boat Owner. In addition, Licensor shall have the right to enter upon the Boat in the
         case of an emergency, when otherwise authorized by the Boat Owner or as otherwise provided
         under the terms and conditions of this Agreement.

14.      Mooring; Storage of Personal Property. It is the sole responsibility of Boat Owner to see that his
         Boat is properly moored and bumpered at all times. Licensor assumes no responsibility for the
         aforementioned. A minimum of four (4), 5/8-inch mooring lines shall be used by Boat Owner. If the
         Boat is discovered to be improperly moored, Licensor may, but is not obligated to, notify Boat
         Owner unless the immediate situation does not permit such notification. Licensor may (but shall
         not be obligated to) install proper mooring and charge the Boat Owner a reasonable rate for
         properly mooring the Boat. Boat Owner shall pay for any such charges upon receipt of an invoice
         for such services. To the extent feasible, Boat Owner shall provide adequate covering to protect
         the Boat from any and all perils, and for the proper maintenance and cleaning of such covering
         while the Boat is within the Marina Facility. Boat Owner agrees to store dinghies, personal
         watercraft and all other personal property aboard the Boat and to keep all walkways and other

                                     Buyer initials _________ __________
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         common areas within the Marina Facility clear from any obstructions. Licensor is not responsible
         for lost or stolen property within the Marina Facility.

15.      Sewerage; Garbage. Boat Owner will place all trash in the receptacles provided at the Marina
         Facility for that purpose. Boat Owner shall dispose of any sewage in accordance with applicable
         governmental requirements, and in no event shall any sewage, oil or gas, debris, refuse or other
         wastewater be discharged into Lake Travis or within the Marina Facility. If such discharge occurs,
         negligently or otherwise, Licensor may (but shall not be obligated to) clean up the discharge and
         invoice the Boat Owner for all costs and expenses so incurred. Boat Owner shall pay for any such
         charges upon receipt of an invoice from Licensor. Boat Owners who have on-board bathrooms
         shall have full responsibility for maintenance of same and as may be required from time to time by
         any state or federal health or sanitation authority or any other governmental authority having
         jurisdiction over such matters. In the event that Licensor provides any pumpout facilities for
         sewage disposal, then any such use shall be at the Boat Owner’s sole risk and without liability to
         Licensor.

16.      Personal Property; Boat Trailers. Boat Owner (and invitees and licensees of Boat Owner) shall not
         leave boat trailers or other personal property on the Marina Facility or any of the common areas of
         the Marina Facility. Any personal property of Boat Owner’s not removed from the Marina Facility
         within thirty (30) days after expiration or termination of this Agreement shall become property of the
         Licensor.

17.      No Improvements or Alterations. No additions, changes, improvements, repairs and/or alterations
         may be made to the Slip or the piers or any other equipment within the Marina Facility, and no gear
         lockers, cooking equipment, carpet, refrigerators, walls, etc… shall be placed on the piers or
         elsewhere on the property of Licensor without the written permission of Licensor.

18.      Hoists. Boat Owner must obtain the advance approval of Licensor for the installation or removal of
         any slip hoists within the Marina Facility. Installation and removal must be done only by an
         approved, insured installer satisfactory to Licensor in its sole discretion, such consent not to be
         unreasonably withheld. Boat Owner hereby grants a right of first refusal to Licensor to purchase, at
         market rates, any hoist installed at the Marina Facility by Boat Owner upon the expiration or
         termination of this Agreement. No hoist shall be installed in a manner that involves removal or
         damage to any part of the Slip. Boat Owner shall be liable for any damage caused by the
         installation or removal of the slip hoists. The power unit of a hoist must be installed on the portion
         of the dock adjacent to the Boat Owner’s Slip, not in the walkway.

19.      Rules and Regulations. The Rules and Regulations for the Marina Facility are attached hereto as
         Exhibit “A”. Licensor reserves the right to amend such Rules and Regulations from time to time
         (collectively, as the same may be amended by Licensor, the “Rules and Regulations”) as Licensor
         deems advisable in its sole discretion. Such Rules and Regulations shall, upon written notice from
         Licensor to Boat Owner, become effective and a part of this Agreement as though fully set forth
         herein. Any failure of Boat Owner, its family, guests or invitees to observe and abide by such
         Rules and Regulations shall be deemed to be a default by Boat Owner under this Agreement.

20.      Responsibility for Family Members, Guests and Invitees. Boat Owner is solely responsible for the
         acts and omissions of its family members, guests, invitees and licensees and any such act or

                                     Buyer initials _________ __________
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         omission committed by such parties that would constitute a default hereunder if it was committed
         by Boat Owner shall be deemed to be a default by Boat Owner under this Agreement. At all times,
         minors must be accompanied by an adult. At all times, guests must be accompanied by the Boat
         Owner.

21.      Violators of Rules and Regulations. Licensor reserves the right to permanently exclude from the
         Marina Facility any such party who consistently or willfully violates the Rules and Regulations or
         this Agreement.

22.      Insurance; Non-Liability of Licensor. BOAT OWNER AGREES TO HAVE HIS BOAT FULLY
         INSURED BY COMPLETE MARINE COVERAGE, INCLUDING LIABILITY INSURANCE IN AN
         AMOUNT NOT LESS THAN $500,000. BOAT OWNER SHALL PROVIDE LICENSOR WITH A
         COPY OF THE INSURANCE POLICY OR INSURANCE CERTIFICATE EVIDENCING SAID
         INSURANCE, AND NAMING LICENSOR AS AN ADDITIONAL INSURED ON SAID LIABILITY
         POLICY. BOAT OWNER AGREES TO BE RESPONSIBLE FOR ANY DAMAGE BOAT OWNER
         OR HIS FAMILY MEMBERS, GUESTS OR INVITEES MAY CAUSE TO OTHER BOATS AT THE
         MARINA FACILITY AND TO REIMBURSE LICENSOR FOR THE FULL COST OF REPAIRS FOR
         ANY DAMAGE INFLICTED TO PIERS, BOAT SLIPS, BOATS AND ANY OTHER PROPERTY OR
         STRUCTURES DAMAGED BY ANY ACT, OR FAILURE TO ACT, OF THE BOAT OWNER OR
         HIS FAMILY MEMBERS, GUESTS, INVITEES OR LICENSEES. LICENSOR SHALL NOT BE
         LIABLE TO BOAT OWNER OR TO BOAT OWNER’S FAMILY MEMBERS, GUESTS OR
         INVITEES FOR ANY INJURY OR DAMAGE TO PERSONAL PROPERTY CAUSED BY ANY ACT
         OR FAILURE TO ACT BY LICENSOR OR BY THE ACT OF ANY OTHER BOAT OWNER OR
         OTHER THIRD PARTY BOAT OWNER ACCEPTS THE SLIP AS SUITABLE AND WAIVES ANY
         DEFECTS THEREIN AND AGREES TO HOLD LICENSOR HARMLESS FROM AND AGAINST
         ANY LIABILITY OR INJURY, LOSS OF OR DAMAGE TO THE BOAT OWNER’S BOAT OR
         OTHER PERSONAL PROPERTY DUE TO FIRE, THEFT, RAINSTORM OR ACTS OF GOD OR
         DUE TO ACTS OR OMISSIONS, CARELESSNESS OR NEGLIGENCE OF LICENSOR’S
         AGENTS, REPRESENTATIVES OR CONTRACTORS. IT IS AGREED THAT BOAT OWNER’S
         INSURER SHALL HAVE NO SUBROGATION RIGHTS AGAINST LICENSOR FOR LOSS,
         DAMAGE AND/OR INJURY SUSTAINED BY BOAT OWNER OR HIS OR HER FAMILY, AGENTS,
         EMPLOYEES, GUESTS, INVITEES OR LICENSEES IN OR ABOUT THE BOAT SLIP OR THE
         MARINA FACILITY.

         THE VERY NATURE OF THE TERRAIN, WATER, WIND AND CONCEPT OF FLOATING DOCKS
         AND FLUCTUATING WATER LEVELS CREATE HAZARDS AND RISKS WHICH ARE OPEN AND
         OBVIOUS AND ALL THOSE RISKS SHALL BE ASSUMED BY BOAT OWNER AND BOAT
         OWNER’S INVITEES, FAMILY MEMBERS AND GUESTS AT THE MARINA FACILITY. BOAT
         OWNER IS ADVISED TO CARRY ALL-RISK INSURANCE ON HIS BOAT AND ITS CONTENTS
         AND IS FURTHER ADVISED THAT USE OF THE MARINA FACILITY IS WITHOUT RISK TO
         LICENSOR AND AT BOAT OWNER’S PERIL. BOAT OWNER WAIVES ANY WARRANTY OF
         FITNESS AND ACKNOWLEDGES THAT BOAT OWNER HAS EXAMINED THE MARINA
         FACILITY AND SLIP AND ACCEPTS THE SAME “AS IS, WHERE IS, AND WITH ALL FAULTS.”

23.      Release and Indemnification of Licensor. Boat Owner, for and on behalf of itself, its family, guests,
         invitees and subsequent owner(s) of the Boat, their spouse(s) and/or the other members of their
         family, guests and invitees, and the respective heirs, executors, administrators, legal and personal
                                     Buyer initials _________ __________
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         representatives, successors and assigns of any of the foregoing persons or parties (collectively,
         the “Boat Owner Parties”), to the fullest extent permitted by law, HEREBY (A) AGREES THAT
         LICENSOR AND LICENSOR’S RESPECTIVE PARTNERS, JOINT VENTURERS, OWNERS,
         MEMBERS, SHAREHOLDERS, OFFICERS, DIRECTORS, MANAGERS, EMPLOYEES, AGENTS,
         ATTORNEYS AND REPRESENTATIVES (COLLECTIVELY, THE “LICENSOR PARTIES”), SHALL
         NOT BE HELD LIABLE OR ACCOUNTABLE TO BOAT OWNER OR TO ANY OF THE OTHER
         BOAT OWNER PARTIES FOR ANY COSTS, EXPENSES, DAMAGES (WHETHER FORESEEN
         OR UNFORESEEN), INCONVENIENCE OR TIME LOST CAUSED BY ANY LOSS, DAMAGE OR
         DETERIORATION OF OR TO THE BOAT WHILE MOORED OR OTHERWISE PRESENT ON
         THE MARINA FACILITY PREMISES OR BY REASON OF THEFT, VANDALISM, MALICIOUS
         MISCHIEF, ACCIDENT, THE ELEMENTS OR ANY OTHER CAUSE WHATSOEVER, (B)
         RELEASES AND FULLY DISCHARGES LICENSOR AND THE OTHER LICENSOR PARTIES
         FROM, AND WAIVES ANY RIGHT TO BRING ANY CLAIM AGAINST ANY LICENSOR PARTY
         FOR, ANY AND ALL COSTS, EXPENSES (INCLUDING COURT COSTS, ATTORNEYS’ FEES
         AND ASSOCIATED LEGAL EXPENSES), LIABILITIES, CLAIMS, DEMANDS, RIGHTS, SUITS,
         CONTROVERSIES, DAMAGES OR CLAIMS FOR DAMAGES, ACTIONS OR CAUSES OF
         ACTION OF EVERY KIND AND CHARACTER WHATSOEVER, WHETHER PREDICATED OR
         BASED ON THE NEGLIGENCE (WHETHER ORDINARY NEGLIGENCE, CONTRIBUTORY
         NEGLIGENCE OR OTHERWISE) OR MISCONDUCT OF ANY LICENSOR PARTY, BOTH AS TO
         PERSON AND TO PROPERTY, AT COMMON LAW, STATUTORY OR OTHERWISE (FOR
         CONVENIENCE, COLLECTIVELY REFERRED TO AS “CLAIMS”), WHICH MAY ARISE OR BE
         ASSERTED (WHETHER BY BOAT OWNER, ANY OF THE OTHER BOAT OWNER PARTIES
         AND/OR ANY THIRD PARTY), DIRECTLY OR INDIRECTLY, OUT OF, IN CONNECTION WITH
         OR BY REASON OF BOAT OWNER’S OWNERSHIP, USE, POSSESSION AND OPERATION OF
         THE BOAT, AND/OR THE MOORAGE OR PRESENCE OF THE BOAT AT THE MARINA
         FACILITY, (C) AGREES TO DEFEND (WITH COUNSEL SATISFACTORY TO LICENSOR IN ITS
         SOLE DISCRETION), INDEMNIFY AND HOLD LICENSOR AND THE OTHER LICENSOR
         PARTIES HARMLESS FROM AND AGAINST ANY AND ALL SUCH CLAIMS, INCLUDING,
         WITHOUT LIMITATION, ANY CLAIM FOR LOSS OR DAMAGE TO PROPERTY (WHETHER TO
         THE BOAT ITSELF OR TO THE PROPERTY AND/OR PERSONAL EFFECTS OF ANY BOAT
         OWNER PARTY OR THIRD PARTY), WHETHER CAUSED BY FIRE, WATER, THEFT,
         VANDALISM, MALICIOUS MISCHIEF, THE ELEMENTS OR ANY OTHER CAUSE
         WHATSOEVER. THE FOREGOING RELEASES, WAIVERS AND INDEMNIFICATIONS ARE A
         MATERIAL INDUCEMENT TO LICENSOR’S ENTERING INTO THIS AGREEMENT.

24.      Damage to Marina Facility. Boat Owner shall be liable and shall pay Licensor upon demand for
         any damage caused by Boat Owner or Boat Owner’s Boat to the Marina Facility or common areas,
         as defined above.

25.      Force Majeure; Assumption of Risk by Boat Owner. Licensor shall not be deemed in default with
         respect to the performance of any of the terms, covenants and conditions of this agreement when
         prevented from so doing by a cause or causes beyond Licensor’s control, which shall include
         without limitation, all labor disputes, governmental regulations or controls, fire or other casualty, or
         acts of God. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, BOAT OWNER, BY
         ITS EXECUTION HEREOF, ACKNOWLEDGES THAT THE MARINA FACILITY (OR A
         SIGNIFICANT PORTION THEREOF) IS A FLOATING FACILITY AND THAT LAKE TRAVIS, THE
         LAKE UPON WHICH THE MARINA FACILITY SITS, IS NOT A CONSTANT LEVEL LAKE.
                                   Buyer initials _________ __________
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         MOREOVER, THE WATER LEVELS OF LAKE TRAVIS HISTORICALLY HAVE BEEN (AND IN
         THE FUTURE WILL BE) SUBJECT TO WIDE VARIATION, BOAT OWNER RECOGNIZES THIS
         AND ASSUMES THE RISK THAT THERE MAY BE TIMES WHEN LAKE TRAVIS AND/OR THE
         BOAT MAY BE INACCESSIBLE. THEREFORE, BOAT OWNER ACKNOWLEDGES AND
         AGREES THAT LICENSOR SHALL NOT BE LIABLE TO BOAT OWNER FOR ANY DAMAGES,
         CLAIMS, COSTS OR EXPENSES INCURRED BY BOAT OWNER, NOR SHALL BOAT OWNER
         BE ENTITLED TO ANY REFUND OR TO TERMINATE THIS AGREEMENT IN THE EVENT THAT
         WATER CONDITIONS IN AND AROUND THE MARINA FACILITY (i) REQUIRE A CLOSURE OF
         LAKE TRAVIS (WHETHER BY GOVERNMENTAL AGENCIES, IMPASSABLE WATER LEVELS
         OR OTHERWISE), (ii) MAKE IT DIFFICULT OR IMPOSSIBLE TO ACCESS THE MARINA
         FACILITY DUE TO HIGH WATER LEVELS; (iii) NECESSITATE THAT LICENSOR, IN ITS SOLE
         AND ABSOLUTE DISCRETION, ALLOW THE MARINA FACILITY TO SIT ON DRY LAND DUE
         TO LOW WATER LEVELS; (iv) NECESSITATE THAT LICENSOR, IN LICENSOR’S SOLE AND
         ABSOLUTE DISCRETION, RELOCATE THE SLIP TO AN ALTERNATIVE LOCATION, OR (v)
         PREVENT, IN LICENSOR’S SOLE AND ABSOLUTE DISCRETION, THE LAUNCHING OF THE
         BOAT INTO LICENSOR WATERS. If for any reason such as low water conditions, Licensor
         requires Boat Owner to remove the Boat from the Marina Facility, then Boat Owner’s obligation to
         pay License Fee will be suspended until such time as the Boat can be relocated into the Marina
         Facility. In the event Licensor relocates the location of the Slip pursuant to clause (iv) above, and
         due to such relocation, the Slip is not accessible by land, Licensor shall use good faith efforts to
         provide reasonable alternative (whether by ferry or otherwise) access to such Slip.

26.      No Implied Duties or Warranties. LICENSOR’S DUTIES AND WARRANTIES ARE LIMITED TO
         THOSE EXPRESSLY STATED IN THIS AGREEMENT AND SHALL NOT INCLUDE ANY IMPLIED
         DUTIES OR WARRANTIES, NOW OR IN THE FUTURE. NO REPRESENTATIONS OR
         WARRANTIES HAVE BEEN MADE BY LICENSOR OTHER THAN THOSE CONTAINED IN THIS
         AGREEMENT. BOAT OWNER HEREBY WAIVES ANY AND ALL WARRANTIES, EXPRESS OR
         IMPLIED, WITH RESPECT TO THE SUBJECT MATTER OF THIS AGREEMENT WHICH MAY
         EXIST BY OPERATION OF LAW OR IN EQUITY, INCLUDING, WITHOUT LIMITATION, ANY
         WARRANTY OF HABITABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

27.      Late Fee. With respect to any payment or other charge due to Licensor which has been
         delinquent for a period of thirty (30) days, such delinquent amounts shall, to the extent permitted by
         applicable law, bear interest from the date on which the same became due until paid at the lesser
         of (a) eighteen percent (18%) per annum or (b) the highest rate for which Boat Owner may legally
         contract under applicable law. Additionally, Boat Owner agrees to pay a charge of Fifty and No/100
         Dollars ($50.00) for each check returned unpaid for insufficient funds, and late charges shall
         accrue as if no check had been given and continue until Licensor receives good funds for such
         check.

28.      Default by Boat Owner. In the event Boat Owner shall fail to timely pay any sum of money when
         due under this Agreement, or shall otherwise be in default of its obligations under this Agreement,
         Licensor shall have, in addition to any other right or remedy specified elsewhere in this Agreement
         and all other rights and remedies available to Licensor at law or in equity, the right to exercise and
         pursue any one or more of the following rights and remedies if such failure or default is not cured
         within five (5) days after Licensor’s written notice thereof to Boat Owner (provided Boat Owner

                                     Buyer initials _________ __________
D:\Docstoc\Working\pdf\cb1c7945-152b-436c-81a2-8163b80ff182.doc 8
         shall not be entitled to such 5-day notice for any subsequent occurrence of the same type of
         default):

         a.        Licensor may terminate this Agreement effective immediately upon giving Boat Owner
                   written notice of such termination, in which event Boat Owner shall immediately surrender
                   use of the Slip. If Boat Owner fails to immediately surrender such Slip, Licensor may enter
                   upon and take possession of said Slip and remove, secure and/or store the Boat and other
                   property therein or thereon at the sole cost and expense of Boat Owner without being
                   liable for prosecution or any claim of damages therefor;

         b.        Recover from the Boat Owner any unpaid sums paid to Licensor under the terms of this
                   Agreement, including the balance of any License Fee due under this Agreement;

         c.        File a lawsuit against Boat Owner for any damages and/or losses caused to Licensor as a
                   result of the breach or default by Boat Owner under this Agreement; and

         d.        Licensor may discontinue any utilities or other services provided to Boat Owner by the
                   Marina Facility.

         Pursuit of, or the delay in pursuing, any of the foregoing remedies shall not preclude pursuit of any
         of the other remedies herein provided or which may otherwise be available to Licensor at law or in
         equity, nor shall the pursuit of, or the failure to pursue, any remedy by Licensor constitute a
         forfeiture or waiver of any other right, remedy or sum due to Licensor or of any damages accruing
         to Licensor by reason of the violation by Boat Owner of the terms of this Agreement.

29.      Contractual Lien. BOAT OWNER HEREBY GRANTS TO LICENSOR A CONTRACTUAL LIEN
         AND SECURITY INTEREST IN THE BOAT AND IN ANY FURNISHING, EQUIPMENT, AND
         OTHER PERSONAL PROPERTY OF ANY KIND BELONGING TO BOAT OWNER AND
         LOCATED AT THE SLIP OR MARINA FACILITY. THE LIEN AND SECURITY INTEREST IS
         HEREIN GRANTED FOR THE PURPOSE OF SECURING THE PAYMENT OF LICENSE FEES,
         CHARGES AND DAMAGES HEREIN COVENANTED TO BE PAID BY BOAT OWNER, AND FOR
         THE PURPOSE OF SECURING THE PERFORMANCE OF ALL OTHER OBLIGATIONS OF
         BOAT OWNER HEREUNDER, SUCH PROPERTY SHALL NOT BE REMOVED WITHOUT THE
         CONSENT OF LICENSOR UNTIL ALL ARREARAGE IN LICENSE FEES AND OTHER SUMS OF
         MONEY THEN DUE TO LICENSOR HEREUNDER SHALL FIRST HAVE BEEN PAID AND
         DISCHARGED. UPON THE OCCURRENCE OF ANY EVENT OF DEFAULT, LICENSOR SHALL,
         IN ADDITION TO ANY OTHER REMEDIES PROVIDED HEREIN OR BY LAW, HAVE THE RIGHT
         TO ENTER UPON THE SLIP AND TAKE POSSESSION OF THE BOAT AND ANY AND ALL
         FURNISHINGS, EQUIPMENT, AND OTHER PERSONAL PROPERTY OF ANY KIND
         BELONGING TO BOAT OWNER AND LOCATED AT THE SLIP OR MARINA FACILITY
         WITHOUT LIABILITY FOR TRESPASS OR CONVERSION, AND MAY SELL THE SAME AT
         PUBLIC OR PRIVATE SALE, WITH OR WITHOUT HAVING SUCH PROPERTY AT SALE, AFTER
         GIVING BOAT OWNER REASONABLE NOTICE OF THE TIME AND PLACE OF ANY SUCH
         SALE. UNLESS OTHERWISE REQUIRED BY LAW, NOTICE TO BOAT OWNER OF SUCH
         SALE SHALL BE DEEMED SUFFICIENT IF GIVEN IN THE MANNER PRESCRIBED IN THIS
         AGREEMENT AT LEAST TEN (10) DAYS BEFORE THE TIME OF THE SALE. ANY PUBLIC
         SALE MADE UNDER THIS SECTION SHALL BE DEEMED TO HAVE BEEN CONDUCTED IN A

                                     Buyer initials _________ __________
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         COMMERCIALLY REASONABLE MANNER IF HELD AT THE MARINA FACILITY AFTER THE
         TIME, PLACE, AND METHOD OF SALE AND A GENERAL DESCRIPTION OF THE TYPES OF
         PROPERTY TO BE SOLD HAVE BEEN ADVERTISED IN A DAILY NEWSPAPER PUBLISHED IN
         THE COUNTY WHERE THE SLIP IS LOCATED FOR FIVE (5) CONSECUTIVE DAYS BEFORE
         THE DATE OF THE SALE. LICENSOR OR ITS ASSIGNS MAY PURCHASE SUCH BOAT AND
         OTHER PROPERTY AT A PUBLIC SALE AND, UNLESS PROHIBITED BY LAW, AT A PRIVATE
         SALE. THE PROCEEDS FROM ANY DISPOSITION DESCRIBED WITHIN THIS SECTION, LESS
         ANY AND ALL EXPENSES CONNECTED WITH THE TAKING OF POSSESSION, HOLDING AND
         SELLING THE BOAT AND/OR SUCH OTHER PROPERTY (INCLUDING THE REASONABLE
         ATTORNEY’S FEES AND LEGAL EXPENSES), SHALL BE APPLIED AS A CREDIT AGAINST
         THE INDEBTEDNESS SECURED BY THE SECURITY INTEREST GRANTED HEREIN, ANY
         SURPLUS SHALL BE PAID TO BOAT OWNER OR AS OTHERWISE REQUIRED BY LAW; BOAT
         OWNER SHALL PAY ANY DEFICIENCIES FORTHWITH. LICENSOR MAY RE-ENTER AND
         TAKE POSSESSION OF THE SLIP LICENSED BY BOAT OWNER HEREUNDER WITHOUT
         THEREBY TERMINATING THIS AGREEMENT, AND, IF LICENSOR SO ELECTS AND WITHOUT
         ANY DUTY TO DO SO, RELICENSE SAID SLIP ON SUCH TERMS AS LICENSOR MAY DEEM
         ADVISABLE AND RECEIVE THE LICENSE FEES, AND BOAT OWNER AGREES TO PAY TO
         LICENSOR ON DEMAND ANY DEFICIENCY THAT MAY ACCRUE BY REASON OF SUCH
         RELICENSE. THE SECURITY INTEREST HEREIN GRANTED IS IN ADDITION AND
         SUPPLEMENTARY TO ANY STATUTORY LIEN THAT MAY BE APPLICABLE THERETO. BOAT
         OWNER AGREES THAT IF HE DEFAULTS ON THIS AGREEMENT, THE OBLIGATIONS OF
         THE ENTIRE AGREEMENT ARE ACCELERATED AND DUE IN FULL UPON DEFAULT. The
         Boat Owner shall, on request of Licensor, execute and deliver to Licensor a financing statement in
         a form satisfactory to Licensor and sufficient to protect the security interest of Licensor in the Boat,
         or Licensor may file this Agreement, or a carbon, photographic or other production of this
         Agreement, as a financing statement.

30.      Removal of Boat Owner’s Boat. If Licensor removes the Boat from its moorage and/or stores the
         same in accordance with this Agreement, then (a) Boat Owner agrees that the Licensor Parties
         shall not be held liable or responsible for any loss, damage or deterioration of or to the Boat or any
         personal property thereon due to said removal and/or storage, and Boat Owner, for and on behalf
         of itself and all other Boat Owner Parties, does hereby RELEASE AND DISCHARGE the Licensor
         Parties from any and all losses, damages, claims and causes of action in connection therewith, and
         (b) Boat Owner will be liable for all costs and expenses incurred by the Licensor in undertaking
         said removal and/or storage of the Boat.

31.      Legal Fees. If Licensor retains an attorney in order to collect any sum of money or otherwise
         enforce its rights under this Agreement, then Licensor shall be entitled to recover from Boat Owner
         the reasonable attorney’s fees, related legal expenses and costs of court incurred by Licensor in
         connection with the pursuit of any such claim, legal proceeding and/or lawsuit.

32.      Liability of Licensor. In the event Licensor shall fail to perform any obligations to Boat Owner under
         this Agreement, Boat Owner shall look solely to Licensor’s (or its successor’s) interest in the
         Marina Facility for the recovery of any judgment against Licensor, it being agreed that Licensor’s
         partners, directors, officers, shareholders, representatives, agents and employees shall never be
         personally liable for any such claim or judgment.

                                     Buyer initials _________ __________
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33.      Notices. Any notice to Boat Owner hereunder may be given by hand delivery or by mailing the
         notice to Boat Owner’s address described in Section 1 of this Agreement, and Boat Owner agrees
         to promptly notify Licensor of any new mailing address. Until Licensor is in actual receipt of a
         change of address for Boat Owner, Licensor shall be entitled to rely on the mailing address of Boat
         Owner described in Section 1 of in this Agreement as being the true, correct and current mailing
         address for Boat Owner. Any notice given by Licensor to Boat Owner shall be deemed effective
         immediately upon the hand delivery or deposit thereof in the U.S. mail, properly addressed,
         postage prepaid, sent by certified mail, return receipt requested, whether or not actually received.
         All notices and payments to Licensor shall be in writing and addressed to Licensor at its address
         set forth beneath its signature line below, or at such other address as Licensor may provide in
         writing to Boat Owner.

34.      Entire Agreement. This Agreement contains the entire understanding between Boat Owner and
         Licensor concerning the subject matter hereof, and no other representation or inducement, verbal
         or written, has been made which is not contained in this Agreement.

35.      No Amendment. Except for any Rules and Regulations which may be promulgated from time to
         time by Licensor pursuant to Section 19 hereof, no amendment or modification of the terms of this
         Agreement shall be valid or binding unless in writing and signed by both Licensor and Boat Owner.

36.      Invalid or Unenforceable Provision. Licensor and Boat Owner agree that if any provision contained
         herein is held to be invalid or unenforceable by a court of competent jurisdiction, the remaining
         provisions of this Agreement shall be unaffected and will be valid and enforceable, and there shall
         be deemed substituted for such invalid or unenforceable provision a provision which, as closely as
         possible, conforms to the invalid or unenforceable provision and which is valid and enforceable.

37.      Gender. Where required for proper interpretation, words used herein in the singular tense shall
         include the plural, and vice versa; the masculine gender shall include the neuter and feminine and
         vice versa.

38.      Governing Law; Venue. This Agreement shall be construed under and in accordance with the laws
         of the State of Texas. All obligations of the parties created in this Agreement are performable in
         Travis County, Texas, and exclusive venue for any claim or litigation under this Agreement shall be
         in Travis County, Texas.

39.      License. Licensor and Boat Owner acknowledge and agree that this Agreement constitutes a
         license of a Slip only, not a lease. Accordingly, the provisions of Title 8 of the Texas Property
         Code shall not apply to this Agreement or the subject matter hereof.

40.      Assignment. This Agreement is non-transferable by the Boat Owner to any third party by voluntary
         act or assignment or by execution, sale or other legal process or any operation of law except to an
         assignee who has been approved in advance, in writing, by Licensor. Licensor reserves the right
         to transfer and assign this Agreement without Boat Owner’s consent, and upon such transfer and
         assignment Licensor shall thereafter be released and relieved from any further obligations
         hereunder.

                           [The remainder of this page has been left blank intentionally.]

                                     Buyer initials _________ __________
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       IN WITNESS WHEREOF, the undersigned execute this Agreement as of the day and year first
above written.

BOAT OWNER:                                               LICENSOR:

                                                          SANDY CREEK INVESTORS, LTD.


Signature of Boat Owner


                                                          By:
                                                          Name:
                                                          Title:
Name - Printed or Typed

                                                                    ADDRESS:   P.O. Box 10027
                                                                               AUSTIN, TEXAS 78766




                                     Buyer initials _________ __________
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                                                EXHIBIT “A”
                                            RULES & REGULATIONS
1.       All Boat Owners need to be respectful of the Subdivision and the Marina Facility.

2.       Boat Owner shall neither place, play or permit any radio, television, loudspeaker or amplifier in or around the
         Slip where the same can be heard from outside the Slip, nor place an antenna or other projection on the Slip,
         nor take any other action which, in the exclusive judgment of Licensor, would constitute a nuisance or would
         disturb the enjoyment of other Boat Owners in the Marina Facility or interfere with their use of their slips or
         would tend to injure the reputation of the Marina Facility. Boat mufflers must be maintained in good
         condition, and revving engines near the marina should be avoided.

3.       Hazardous or flammable materials must be contained in legally approved containers and may not be stored
         on the dock.

4.       Boat Owner is responsible for any oil leaking from the bilge or any other part of their vessel(s). Boat Owner
         must clean up any oil spill immediately. Failure to do so will result in extra charges on your bill, for the
         expense of the clean up and may result in the removal of your Boat or personal watercraft.

5.       The waters around the marina shall not be fouled. No garbage, trash, fuel, oil, toxic chemicals, etc., shall be
         permitted to enter the water, or be placed upon the docks or in shore area of the marina. Toilet facilities shall
         be equipped with holding tanks and in compliance with all applicable regulations.

6.       Pets must be leashed while on the docks and Boat Owner is responsible for scooping up after them.

7.       Marina slips may not be traded without the express written permission of Licensor.

8.       No BBQ pits are allowed on the docks. Grilling is not allowed on the marina. Please respect your neighbors
         regarding smoke and odors.

9.       Boat Owner, family members, guests and invitees shall follow the rules of safe boating within the Marina
         Facility.

10.      Never board a boat without the owners’ permission.

11.      Boat Owners may use the cabana and bathroom. Please keep them clean. Please do not give the code or
         any access keys to a guest. Feel free to let us know if the restroom needs attention.

12.      There is no lifeguard on duty at any time. Swimming around the Slips is very dangerous and risky.

13.      Please report dock maintenance and repair items immediately. In the case of severe injury or drowning, dial
         911 for Emergency Medical Services. Be able to give the address (17545 Reed Park Road;, Jonestown,
         Texas).

14.      Be certain to make yourself familiar with the location of all fire extinguishers and exits.




                                  Boat Owner Initials ______                  ______
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