Bareboat Charter Agreement

TOP FUN CHARTERS - BAREBOAT CHARTER AGREEMENT.

VESSEL:

Name: Top Fun Length:48’

Manufacturer: FORMULA Flag: USA Official No.

Vessel Insurance Limits: Protection & Indemnity: Deductible:

PARTIES:

Owner: Top Fun Charters

Email: [email protected]

Charterer (the “Charterer

CHARTERER MUST ACKNOWLEDGE HE/SHE IS A US CITIZEN

Broker (the “Broker”):

CHARTER:

Charter Type: BAREBOAT CHARTER

RECREATIONAL ONLY ***UNDER NO CIRCUMSTANCES WILL OWNER LET VESSEL FOR COMMERCIAL PURPOSES***

Charter Period begins at time of vessel delivery.

Delivery:___Bradenton FL____________ Place of Redelivery: ____Bradenton FL__________

Cruising Area: No more than 1 mile offshore

Maximum Number of Guests: 13 Sleeping: Cruising on board:

Crew Requirements: Captain & first mate

FEES:

Charter Fee: Due Date:

Security Deposit Due: $500 Due Date: Upon signing Agreement

Additional Fees: Sales Tax

Pay To: Zelle, Venmo, CashApp or Credit Card

CHARTER FEE DOES NOT INCLUDE FEES FOR CAPTAIN, CREW, FOOD, STORES, OR OTHER OPERATING EXPENSES

ADDITIONAL CONDITIONS:

Charterer is solely responsible for hiring qualified crew in compliance with Clause 8. Charterer has chosen to engage the following captain and crew:

See completed form for crew info

Position Name

Captain

First Mate

Chief Stew

Deckhand

Other

Please note: This Vessel is equipped with outside security cameras.

CLAUSE 1. AGREEMENT TO LET AND HIRE

In consideration of Charterer’s payment of the Demise or Bareboat Charter Fee (the “Charter Fee”), Owner shall let the Vessel to Charterer, and Charterer shall hire the Vessel from Owner for demise or bareboat charter, for the period from the Start Date/Time to the End Date/Time (the “Charter Period”), under the terms of this Agreement. Capitalized terms in this Agreement have the meaning stated in the boxes above unless separately defined herein.

CLAUSE 2. DELIVERY

Owner will deliver Vessel to Charterer in a seaworthy, clean, and ready for use condition, fitted out as appropriate for a vessel of her size and type. Charterer will take possession, custody and control of the Vessel at the Delivery Location on the Start Date/Time. Prior to embarking, Charterer will visually inspect the Vessel, her equipment and report any damage to the Owner in writing if there is a visible defect as to the condition, equipment, or accommodations as agreed of the Vessel by completing the attached Pre & Post Inspection Survey. Absent any reports to the Owner, the Vessel will be deemed acceptable for Charter by the Charterer. Silence shall be deemed acceptance of the delivery condition of the Vessel and waiver of any defects.

CLAUSE 3. REDELIVERY

The Charterer will redeliver the Vessel in the same condition as received at Delivery to the Owner at the Redelivery Location at the End Date/Time. Charterer may redeliver the Vessel earlier than the scheduled Redelivery Date or Time by notifying the Owner. Redelivery of the Vessel prior to the scheduled Redelivery Date and Time will not entitle Charterer to any refund of the Charter Fee for underutilized time of the Charter Period. Charterer will conduct a final walk-through inspection and report any damage or defects to Owner in writing at the time of Redelivery. Should Charterer damage the Vessel more than normal wear and tear, or redeliver the Vessel with excessive mess, spills, Owner may claim from the Security Deposit the sums reasonably necessary to clean, remedy, or repair damage caused by Charterer or Charterer’s guests, in addition to exercising any other rights to recover costs.

In the event Charterer is dissatisfied with the Charter, Charterer will alert Owner immediately.

CLAUSE 4. PAYMENT OF THE CHARTER FEE & SECURITY DEPOSIT

● Security Deposit. The Security Deposit for each Charter is ($500) payable at the time of the execution of this Agreement. The Charter Period is not secured until Owner has received the full Security Deposit and Owner confirms receipt. The Security Deposit is retained by the Owner through the Charter Period. The Security Deposit will be refunded to Charterer within forty-eight (48) hours after the end of the Charter should the Charterer fulfill the obligations of this Agreement and return the Vessel in satisfactory condition. If, for any reason, the Charterer fails to show up for the Charter, damages the Vessel beyond normal use, or in any way breaches this Agreement, the Security Deposit will be forfeited to Owner.

● Charter Fee. The full amount of the Charter Fee will depend on the time, date, and number of days requested. The Charter Fee DOES NOT INCLUDE CAPTAIN, CREW, TAX OR OPERATING EXPENSES.

● Same Day Booked Charters. Charterer will pay the Security Deposit ($500) and Charter Fee in full at the time of execution of this Agreement.

● Charters Booked in Advance. Charters booked in advance must be paid according to the following schedule: i) $500 Security Deposit due upon signing the Agreement, which will secure the Charter Period Date & Time; ii) remaining Charter Fee to be paid in full no less than (24) hours prior to the scheduled Delivery of the Vessel.

● Charters through Brokers. If a broker is involved, broker shall transfer any funds relating to this Agreement received from Charterer to Owner according to the schedules in this Clause 4. Broker shall disburse the full Charter Fee to the Owner after deduction of the broker’s commission. No commission shall be deducted from the Security Deposit under any circumstances.

● Payment Method. Payment of the Security Deposit and the Charter Fee shall be made via Zelle, CashApp, credit card or Venmo.

● Failure to pay the Charter Fee in full in advance of the Charter will result in forfeiture of the Security Deposit and cancellation of the Charter by Owner at Owner’s sole discretion.

CLAUSE 5. CANCELLATION AND RETURN OF THE CHARTER FEE.

● Charter Cancellation by Charterer. If the Charterer cancels or reschedules 7 days before the scheduled Delivery, the Security Deposit and the Charter Fee will return to Charterer.

● Late Cancellation and No-Show Policy. If the Charterer cancels less than 7 days prior to the delivery or does not show up, a refund of 50% of the booking price and security deposit will be issued. No refund will be issued for cancellations made within 24 hours or less of departure

● Same-Day Charters. All fees for Charters booked the day of will be nonrefundable should Charterer cancel last minute or no-show.

CLAUSE 6. CRUISING AREA

The Charterer must operate the Vessel only within the legally permitted Cruising Area and within the Vessel’s insurance limits. Any violation will be considered a breach of this Agreement, resulting in immediate termination and forfeiture of the Security Deposit and all Charter Fees. The Charterer is responsible for any fines or claims incurred due to non-compliance and agrees to indemnify, defend, and hold harmless Owner from any and all fines, claims, and fees, including detainment of the Vessel, as a result of Charterer’s breach.

CLAUSE 7. CHARTER GUESTS

Charterer will provide a guest/passenger list prior to the Charter Period. Maximum Number. Exceeding the Maximum Number of Guests Sleeping or Cruising on board the Vessel is impermissible and will be treated as a breach of this Agreement. Minors. The Charterer will be fully responsible for the conduct, safety, and entertainment of children taken on board the Vessel and the Charterer agrees that the Charterer and not the Owner or any member of the Crew will be held responsible for the children’s conduct, entertainment, or safety. Medical Fitness. The nature of a Charter may render it unsuitable for anyone with limited mobility or undergoing medical treatment. By signature of this Agreement, the Charterer warrants the medical fitness and mobility of all members of the Charterer’s party for the voyage contemplated by this Agreement. Conduct. Charterer will be responsible for the conduct, health, and safety of all Charterer invitees on board the Vessel even if that person’s name does not appear on the approved Charterer guest list. The Charterer is responsible for ensuring that invitees are aware of any risks associated with the Charter. Charterer will indemnify, defend, and hold harmless, Owner from any and all claims brought against Owner by Charterer’s invitees and guests except for claims arising from Owner’s gross misconduct or intentional acts.

CLAUSE 8. CHARTERER’S RESPONSIBILITIES AND REQUIREMENTS FOR HIRING CREW

Owner shall deliver, and Charterer shall accept, complete possession, command, and navigation of the Vessel. Charterer understands and acknowledges:

● The Charter does not come with a captain and crew, Owner does not provide a captain, and the Charter Fee does not include a captain or crew.

● Charterer, at Charterer’s expense, is required to hire a professional licensed and qualified captain and crew, sufficient in number and rating to meet the manning requirements imposed by the United States Coast Guard, knowledgeable, and familiar with the Vessel and waters of the Cruising Area.

● Owner may provide recommendations if the Charterer is unable to locate a qualified captain and crew.

● Owner reserves the right to decline Charterer’s chosen captain and crew, should such captain and crew fail to meet the license qualifications or qualifications required by Owner’s insurance.

● The captain and crew will answer to Charterer during the Charter Period, and Charterer may discharge the captain or any member of the crew for cause.

● Charterer must submit to Owner the chosen captain and crew information prior to the Charter Start Date to prevent rescheduling or delays of the Charter.

● The Charterer shall direct the captain to immediately notify the Owner of any breakdowns, disablements, crew changes, accidents or other significant incidents that occur during the Charter Period.

Charterer has full control of the Vessel and can elect to operate the Vessel if he/she desires; however, Charterer’s qualifications will be held to the same standards set forth in this Clause 8. Owner reserves the right to reject Charterer’s election to operate the Vessel himself/herself without reason.

CLAUSE 9. USE OF VESSEL

Compliance with Laws. The Charterer and their guests must comply with all applicable laws, including those of the U.S. Flag State and any jurisdictions visited during the Charter. If any violation results in the Vessel being detained, fined, or seized, the Charterer will be responsible for all associated costs and must indemnify the Owner. The Owner may terminate the Agreement immediately if such a violation occurs. The Charterer is also liable for any fines, penalties, or claims arising from their negligence or intentional acts, indemnifying the Owner against any resulting losses. Pleasure Use Only. Charterer shall use the Vessel only for pleasure purposes and shall not carry any merchandise, cargo, freight, or passengers for hire. CHARTERER SHALL NOT USE THE VESSEL FOR ANY COMMERCIAL PURPOSE. Behavior. Charterer shall ensure that Charterer’s guests’ behavior does not cause a nuisance to anyone or bring the Vessel or Owner into disrepute. No Smoking On Or Inside. No smoking either on or inside the Vessel, in any of the cabins or interior or exterior of the Vessel. Pet Policy. The Vessel is a pet-free vessel. No pets are allowed on board the Vessel unless, in the case of an exception, with Owner’s prior written consent. Owner is under no obligation to approve pets on board the Vessel. Children. Children must be under the supervision of an adult in the Charterer’s party at all times. Violations. Owner may immediately terminate this Agreement and, in addition to any other remedies Owner may have, require Charterer and Charterer’s guests to disembark immediately without any refund of the Charter Fee.

CLAUSE 10. PROHIBITED ITEMS

No weapons, illegal drugs, or prescription drugs without a valid prescription may be carried on board the Vessel. THERE IS A ZERO-TOLERANCE POLICY FOR DRUGS OR CONTRABAND ABOARD THE VESSEL. THE PARTICIPATION IN ANY OF THESE PROHIBITED ACTIVITIES BY THE CHARTERER OR ANY OF THE CHARTERER’S GUESTS OR INVITEES CONSTITUTES A BREACH OF THIS AGREEMENT AND WILL BE CAUSE FOR IMMEDIATE TERMINATION OF THIS AGREEMENT WITHOUT REFUND OF THE CHARTER FEE OR ANY OTHER PAYMENTS MADE BY THE CHARTERER. CHARTERER WILL INDEMNIFY, DEFEND, AND HOLD HARMLESS OWNER FROM ANY AND ALL FINES, CLAIMS, PENALTIES, WHETHER IN LAW OR IN EQUITY, INCLUDING THE COSTS AND FEES FOR DETAINMENT AND SEIZURE, INCLUDING ATTORNEYS’ FEES, should Charterer or Charterer’s guests violate this Clause 10 or any laws related hereto.

CLAUSE 11. OPERATING EXPENSES

The Charterer will be responsible for paying the vessels fuel usage. Fuel costs may be estimated based on the length of rental. Charterer will pay all additional expenses to operate the Vessel during the Charter Period, including, but not limited to, expenses and gratuities for crew and captain; dockage, pilotage, harbor charges, customs formalities; food, beverages, and other provisions; water and electricity taken from shore; waste disposal; laundry; communications; and fuel, oil, and other consumables for the Vessel and her tenders and toys (collectively, the “Operating Expenses”). All Operating Expenses are the sole responsibility of Charterer, including fees for shoreside transport and excursions not customarily considered part of the Operating Expenses. If Operating Expenses are required or collectible prior to the Start Date/Time of the Charter, it is the responsibility of Charterer to transfer funds pertaining to the Operating Expenses to the captain or directly to the third-party service provider. Charterer agrees to indemnify, defend, and hold harmless Owner from any claims or disputes regarding nonpayment of Charterer’s Operating Expenses by third parties.

CLAUSE 12. FORCE MAJEURE

“Force Majeure” refers to events beyond a party’s control, including severe weather, natural disasters, war, terrorism, civil unrest, labor disputes, government restrictions, epidemics, and related measures. Crew or captain changes do not.

CLAUSE 13. DELAYED DELIVERY

Delivery Delay by Owner. If Owner fails to deliver the Vessel at the Start Date/Time but delivers the Vessel within a reasonable time period, Owner shall refund the Charter Fee pro rata for the period of delay without interest or liquidated damages, or, alternatively, if Owner and Charterer agree, the Charter Period will be extended by the period of delay or grant a subsequent charter for the lost days at a later date as mutually agreed to by Owner and Charterer. Extended Delay by Owner. If Owner fails to deliver the Vessel outside and after a reasonable time period, and an alternative Charter Time or Date cannot be reached, Charterer may terminate this Agreement by notifying Owner in writing, in which case, as Charterer’s sole and exclusive remedy, Owner shall return all amounts paid by Charterer without interest or liquidated damages. Cancellation by Owner. If Owner cancels this Agreement more than seventy-two (72) hours before the Start Date/Time for any reason, as Charterer’s sole remedy, Owner shall return any amounts paid by Charterer under this Agreement without interest. Late Cancellation by Owner. Notwithstanding anything to the contrary, should Owner cancel the Charter less than forty-eight (48) hours prior to the scheduled Charter Start Date for any reason other than Force Majeure, Owner shall return all amounts paid by Charterer under this Agreement in addition to five (5%) percent of the Charter Fee, without interest, as liquidated damages. Cancellation Due to Force Majeure. Should Owner cancel the Charter less than forty-eight (48) hours prior to Charter due to Force Majeure, Charterer will be refunded all fees paid for Charter or Charterer may elect an alternative date for Charter to which the fees paid will be applied.

CLAUSE 14. DELAYED REDELIVERY

If Charterer fails to redeliver the Vessel at the End Date/Time for any reason, Charterer shall redeliver the Vessel as soon as reasonably practicable, the Charter Period will be extended until redelivery, and Charterer shall be responsible for payment of additional charter time. Should Charterer wish to extend the Charter Period, Charterer must notify the Owner prior to the expiration of the Charter Period and obtain Owner’s written consent. If Charterer exceeds the scheduled Redelivery Time or fails to redeliver the Vessel at the End Date/Time due to Charterer’s tardiness, negligence, or grossly negligent acts or omissions, Charterer shall pay, in addition to the extended charter time, an amount equal to the Charter Fee plus 40% of that amount as liquidated damages, and, in addition, indemnify Owner against any liability for any loss, damage, or expense arising from Charterer’s failure to redeliver the Vessel on time, including any liquidated damages or lost charter hire under any other charter agreement to which Owner is a party.

CLAUSE 15. DISABLEMENT

Short Disablement. If the Vessel becomes disabled, in part or totally, during the Charter Period, Owner shall either a) refund the Charter Fee pro rata for the period of disablement without interest or liquidated damages; b) alternatively, if Owner and Charterer agree, and if feasible given the conditions, the Charter Period will be extended by the period of disablement if the Vessel is able to resume operation during the Charter Period; or c) Charterer may elect to terminate the Charter and use the pro rata refund as a credit towards another Charter for another day. Charterer shall continue to pay any additional Operating Expenses during any period of disablement. Vessel Unable to Return to Redelivery Location. If the Vessel is unable to return to the Redelivery Location, Charterer may redeliver the Vessel by transferring possession of the Vessel to Owner where she lies. Charterer is responsible for any travel and accommodation costs reasonably incurred to return Charterer and Charterer’s guests to the Redelivery Location. Disablement Caused by Charterer. Charterer’s remedies under this Clause 15 do not apply to any disablement caused by Charterer or any of Charterer’s guests.

CLAUSE 16. INSURANCE

Vessel. Owner shall insure the Vessel during the Charter Period with reputable underwriters against all customary hull and liability risks on terms appropriate for the Vessel’s size, type, and value, extended to cover chartering under the terms of this Agreement. Owner shall cause Charterer to be an additional insured or covered person under the Vessel’s insurances. Owner will make available for inspection, upon reasonable notice by the Charterer, copies of all relevant insurance documentation, which will also be carried on board the Vessel. Owner will pay the premium for such insurance. On the other hand, the Charterer acknowledges that he/she is responsible for determining whether such insurance coverage is adequate for the Charterer’s purposes. If the Charterer determines that additional coverage is necessary, then the Charterer shall arrange, prior to the commencement of the Charter Period, for separate or supplemental insurance at the Charterer’s sole cost and expense. Additional Coverage. The Vessel’s insurances do not cover, among other things, Charterer’s or Charterer’s guests’ liabilities, trip cancellation, medical evacuation, or loss of, or damage to, personal effects. Charterer is responsible for determining if the Vessel’s insurances meet his or her needs and arranging additional coverage if he or she considers it necessary. Owner is not liable for Charterer’s or Charterer’s guests’ or vendors’ losses should Charterer fail to obtain adequate insurance coverage. Actions to Void or Limit Coverage. If Charterer or any of Charterer’s guests does anything to void or limit coverage under the Vessel’s insurances, Charterer shall indemnify, defend, and hold harmless Owner against any liability for any loss, damage, or expense to the extent that it would otherwise have been covered under the Vessel’s insurances.

CLAUSE 17. TAXES

The Charter Fee does not include any sales taxes payable on the Charter Fee or any other amounts due from Charterer under this Agreement. Charterer is responsible for payment of sales tax due on the Charter Fee.

CLAUSE 18. MARITIME LIENS; EMERGENCY

Maritime Liens. Charterer shall not incur, and shall ensure that Charterer’s guests do not incur, any maritime lien on the Vessel. Charterer shall indemnify, defend, and hold harmless Owner against any liability for any loss, damage, or expense arising from any maritime lien on the Vessel incurred by Charterer or any of Charterer’s guests. Salvage of the Vessel. Charterer shall not enter into any salvage agreement with respect to the Vessel without Owner’s prior written consent unless the Vessel requires immediate assistance, and it would be impractical to obtain Owner’s prior written consent.

CLAUSE 19. INDEMNIFICATION

Charterer shall indemnify, defend and hold harmless the Owner and its officers, directors, shareholders, affiliates, agents, managers, employees, or other subcontractors (the “Indemnified Parties”) from any and all liability claims, demands, damages, liabilities and costs (including, without limitation, litigation expenses and reasonable attorneys’ fees at the trial and appellate levels) of whatever nature notwithstanding the liabilities covered by Owner’s insurance, arising out of Charterer’s personal use of the Vessel while under Charterer’s control including, without limitation, death or injury to Charterer, Charterer’s guests, Charterer’s captain and crew, or third party vendors hired by Charterer for additional services. Owner is not responsible for theft or lost personal items of Charterer, Charter guests, third parties, captain and crew. This section survives the termination or expiration of this Agreement.

CLAUSE 20. MISCELLANEOUS

Entire Agreement. This Agreement constitutes the entire agreement between the parties, and supersedes any prior agreement or understanding between them, oral or written, with respect to the charter of the Vessel by Owner to Charterer. There are no other terms, conditions, representations, or warranties, express or implied, with respect to the subject matter of this Agreement. Liquidated Damages. This Agreement provides for liquidated damages in narrow cases. The parties agree that, in each case, the nonbreaching party’s losses are difficult to estimate as of the date of this Agreement and would be difficult for that party to prove. The parties intend for liquidated damages in limited circumstances set forth herein, to compensate the nonbreaching party and not to punish the breaching party. Damages. In the event Charterer is dissatisfied with the Charter, Charterer’s maximum recovery is limited to the Charter Fee paid. Notices. Notices under this Agreement must be in writing and must be made by hand delivery, overnight courier, or email or other electronic means to the address and email provided in this Agreement. Notice given by a captain or broker representing a party will have the same effect as notice given by or to that party. Amendment. This Agreement may be amended only by a writing that refers specifically to this Agreement and that is signed by Owner and Charterer. Waiver. No waiver of a party’s rights under this Agreement will be effective unless it is in writing and signed by that party. No failure or delay in exercising any right or remedy under this Agreement will constitute a waiver of that right or remedy. A waiver in one instance will not operate as a waiver in any other instance. Assignment. Owner may assign this Agreement to any entity subject to common ownership and control to which ownership of the Vessel is transferred before the Start Date/Time. Otherwise, neither Owner nor Charterer may assign this Agreement without the other party’s prior written consent. Any unauthorized Assignment of this Agreement by Charterer will be null and void. Severability. If any term of this Agreement is held to be unenforceable for any reason, that term will be modified to the minimum extent necessary to make it enforceable, or, if it cannot be modified to make it enforceable, disregarded, and in either case, the other terms of this Agreement will remain in effect. Interpretation of This Agreement. Paragraph and subparagraph headings are included only for convenience and will not affect the interpretation of this Agreement. In this Agreement, “including” means “including, but not limited to.” Signing of This Agreement. An electronic signature of this Agreement will have the same effect as a handwritten signature. This Agreement may be signed in counterparts, which, together, will constitute a single instrument. A signed copy of this Agreement sent by email or other electronic means will be deemed an original for all purposes. Right to Review. Both Owner and Charterer had an opportunity to review this Agreement with their own separate counsel. The Parties agree that this Agreement will not be construed unfairly or against the primary drafter.

CLAUSE 21. GOVERNING LAW; DISPUTE RESOLUTION

Governing Law. This Agreement will be governed by and interpreted according to the federal maritime law of the United States and the law of the State of Florida regardless of any conflict-of-laws principles that would require the application of any other law. Arbitration. The parties shall resolve any dispute arising from this Agreement by arbitration in Manatee County, Florida, in accordance with the Rules of the American Arbitration Association in effect when the arbitration is commenced. Attorney’s Fees. In any arbitration or other proceeding arising from this Agreement, the prevailing party will be entitled to recover, in addition to any other relief to which that party is entitled, reasonable attorney’s fees, court costs, and all other expenses incurred in that arbitration or proceeding, even if not taxable as court costs, including all such fees, costs, and expenses incurred in appellate, bankruptcy, and post-judgment proceedings. THE PARTIES HAVING EACH BEEN APPRISED OF THEIR RIGHT TO TRIAL BY JURY AND HAVING EACH HAVING HAD THE OPPORTUNITY TO CONSULT WITH LEGAL COUNSEL OF THEIR CHOICE, HEREBY KNOWINGLY AND IRREVOCABLY WAIVE THEIR RIGHT TO TRIAL BY JURY.

I have read and understand the foregoing in its entirety. I agree to the terms and conditions stated above.

Date:____________________

Trip Destination: ___________________

Vessel: Formula 480

Hull #: TNRD4237J405

Captain Selected: ____________________

Fuel Level at Departure _______________________ or about ___________Gallons

I, __________________ have completed a walk through with my chosen Captain. After review, I accept the Vessel for Charter and understand that I waive any unsatisfactory condition or defect of the Vessel by signing below. I received instruction from my chosen Captain and understand the safety equipment and protocols in the event of an emergency.

Report Below any Deficiencies Found: _______________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________

Pre-Inspection Signature: ________________ (Charterer) ___________________ (Captain)

Upon Delivery, I have returned the Vessel in the same condition, absent normal use expected on the length of such Charter. I did a walk-through of the Vessel after Delivery and the return was to my satisfaction.

Post Inspection Signature: _______________ (Charterer)____________________(Captain)

See website for current list of captain & crew, LIST OF RECOMMENDATIONS.