Microsoft Word - NCYC Roster - V1

MAINLAND WELLS: Lease Terms Lease term is for one season (calendar year). Board of Directors will determine summer well rental fees. Signed lease agreement and full payment are due on April 15 and may result in forfeit of well if not received by May 1. Agreement must be accompanied by a current copy of the vessel's registration and certificate of insurance unless previously provided. Subleasing is not permitted. Lease is specific to lessee, vessel, and well. Assigned well may only be used by lessee. Lessee may only use assigned well and only for vessel(s) described in lease. Failure to comply with the terms, rules, or regulations of this lease agreement without prior board approval may be grounds for termination of lease. Any action on the part of NCYC resulting in 1) Termination of a member’s current lease agreement 2) Refusal of NCYC to renew previous lease agreement 3) Removal of an eligible member from the waiting list 4) Change of position on the waiting list of an eligible member Must be approved by the Board of Directors