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Subscription Agreement For Beats Working, LLC Rev. 4 FEBRUARY 27, 2005 The undersigned hereby subscribes to a one twenty-sixth (1/26th) membership interest in Beats Working, LLC, for the sum of $_______________________ (Does not include Maintenance Fees). I understand that proceeds from this Subscription Agreement will be used by the LLC to purchase Beats Working Houseboat with Hull #EYE50189A202 and will entitle me to use said houseboat for week #__________ each year. I have tendered with this agreement the sum of $___________________as a down payment (CC# _________) with a remaining balance of $___________________due _____________________ . I also tender the sum of $2,600 for the year 2005 Maintenance fee (Week #__________) I understand that there will be an annual Maintenance Fee based on the previous year's experience for the purpose of maintenance, insurance, management, and other costs related to the boat. In the event that the annual Maintenance Fees are insufficient to pay the reasonable and necessary expenses for any given year, an additional assessment will be paid by each owner on a prorata basis. The first year’s Maintenance Fees will be due at the time of purchase and thereafter on January 5th for each succeeding year. I have read and agree to all of the Rules and Regulations for the operation and maintenance of the Beats Working Houseboat and further agree that any violation of these Rules and Regulations may result in an additional assessment to cover any damages and/or could result in forfeiture of my use of the houseboat. I agree to use the Beats Working Houseboat at my own risk and further agree to hold Clearwater Yachts, Inc., Beats Working, LLC, and all of Beats Working, LLC members harmless and agree to indemnify said individuals or entities from any and all claims of any nature or type, including but not limited to, claims for bodily injury or damage that might possibly occur while I am using the houseboat. This Agreement is made under and shall be construed pursuant to the laws of the State of Idaho. Any dispute relative to this Agreement shall be submitted to mediation and/or legal action in Ada County, State of Idaho. The prevailing party shall be entitled to reasonable attorney’s fees and costs. This Subscription Agreement, together with the Rules and Regulations for Beats Working Houseboat and the Beats Working, LLC Operating Agreement, constitute the entire agreement between the parties, and supersedes any prior written or oral agreement(s). MEMBER’S NAME: EMERGENCY CONTACT: Name:__________________________________________Name:__________________________________________ Address:________________________________________Address:_________________________________________ City:___________________________________________City:____________________________________________ State:_____________________Zip:____________________State:____________________Zip:___________________ Home Phone: (_______)___________________________Home Phone:(_______)______________________________ Work Phone: (_______)___________________________Work Phone:(________)______________________________ Drivers License #____________________________________ Date of Birth:___________________________________ Boating Exp. (yrs.):____________ OWNER'S SIGNATURE:_____________________________________________DATE:__________________
BEATS WORKING , LLC: By ________________________________________ DATE:__________________ Its Managing Member
BEATS WORKING , LLC. 2370 CHAMPAGNE DRIVE EAGLE, IDAHO 83616 1-(208) 938-3167 |
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