Children's Horse Lease Agreement - February 27, 2015 - September 26, 2019

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Standard Lease Agreement for Hunter trained horses and ponies.

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THIS EQUlNE LEASE AGREEMENT (“Agreement”) is made and entered into as ofOctober 1, 2019between (i) Jennifer Christensen, HD Equine, LLC (the “Lessor’’) and (ii) Stacy Gargiulo, for Kathryn Gargiulo, a minor (the “Lessee”) having its principal residence at St. James, New York.

RECITALS: Lessor is the owner, HD Equine LLC, of the show horse known as “Carrot Thief, “Digger”” (the “Horse”), Thoroughbred, age 11, Mare, United States Equestrian Federation. Inc. (‘‘USEF”) registration number #5543439. For purposes of this Agreement. Horse is a generic term and may refer to either a horse or pony without affecting the enforceability of this Agreement. Lessor desires to lease the Horse to Lessee for riding and showing purposes for the consideration and upon the terms and conditions set forth herein. The Horse shall and will be kept and cared for at Lessee’s sole expense fromOctober 1, 2019, until the termination of this Agreement in accordance with its terms.

NOW, THEREFORE, in consideration of the mutual covenants, representations and warranties provided herein, the parties, intending to be legally bound, hereby agree as follows:

1.Lease of Horse. Lessor hereby leases the Horse to Lessee for the consideration, and upon the terms and conditions, set forth herein, Lessee hereby accepts such lease of the Horse for the consideration, and upon the terms conditions, set forth herein.

2.Lease Term. The term of the lease shall be commencing on the date hereof and terminating onOctober 1, 2019(the “Term”).

3.Termination of Lease Term. Lessee may terminate this lease Agreement at anytime with 30 day written notice to Lessor and return of Horse to Lessor, at Lessee’s expense, to such location as designated by Lessor. No refund will be issued for termination of the lease prior to the completion of the term of the lease as specified in paragraph 2 of this Agreement.

4. Insurance Policies. Lessor will maintain a mortality insurance policy on the Horse for the Horse’s full value ($10,000 USD) naming Lessor as sole beneficiary, Lessee shall be responsible for reimbursing Lessor for any and all premiums paid by Lessor for all mortality insurance policies carried on the Horse. 

5. Insurance Notification Requirements. Lessee will comply with any and all notification requirements specified in any and all insurance policies under the terms of this Agreement. In the event Lessee’s failure to comply with any and all notification requirements in any and all insurance policies under this Agreement results in a disallowance of an insurance claim, Lessee agrees to indemnify Lessor for any resulting losses.

6. Consideration for Lease. In consideration for Lessor’s lease of the Horse, Lessee shall assume the full care and maintenance of the Horse atBG Show Stables, located at2224 Roanoke Ave. Riverhead, NY , at Lessee’s sole expense. Such care shall be consistent with the degree of care customary to Horse’s actively trained and shown on the schooling and or rated USEF sanctioned horse show circuit.

7. Care of The Horse. Care shall include, but not limited to: turn out, stall, proper feed and water, farrier care (every 5-6 weeks), grooming, training, exercise, and when required medical and veterinarian attention. The lessor will cover the cost of the Horse’s farrier fees, veterinary care and supplements. The Lessee will be responsible for paying the Horse’s board, bi-weekly massages and any extra supplements necessary the day of a horse show. 

8. Exercise of Horse. Lessee shall provide the following exercise of said horse: Horse shall be ridden at least 3 times per week, and not more than 6 days per week. Horse shall be ridden by Lessee’s child,Kathryn, in a lesson with trainerJennifer Christensen, Debbie Moore, Bobby Ginsberg or by a professionally appointed rider in a training ride at least once per week. Horse shall not jump more than 3 days per week. Horse may only be jumped while in a lesson, unless otherwise specified. Lesser may ride the Horse over cavelletis while not in a lesson. Horse shall not be ridden by anyone other than trainer or Lessee's child without permission from the lessor. 

9. Horse Shows per Year. Lessee may not show or allow any one else to show the Horse at more than 28 horse shows during the term of the lease. Lessee may not show or allow anyone else to show the Horse more than 12 times at any one particular horse show.

10. Lease Payments. As rental for the Lease of the Horse, Lessee shall deliver to Lessor Zero dollars ($0) United States Currency. Full payment for the term of the lease shall be made at the commencement of the lease, on or beforeN/A. This is a one year free lease. 

11.Representation and Warranties of Lessor. Lessor represents and warrants to Lessee the following:

(a)Lessor has fee simple, good and marketable title to the Horse, free and clear of any and all mortgages, deeds of trust, pledges, liens, claims, liabilities, and or encumbrances.

(b)The Horse was sound and of good health as of the date of the of the Horse to Lessee’s premises. Lessee acknowledges the opportunity to obtain a pre-lease evaluation of health and soundness of the Horse by a licensed veterinarian prior to signing of lease.

(c)Lessor represents and warrants that the Horse is registered and in good standing with the USEF and eligible to be shown in the jumper,Jumper, hunter and equitation divisions. 

(e)The execution, delivery, and performance of this Agreement will not violate any provision of any existing mortgage, indenture, contract or other agreement to which Lessor is a party or which purports to be binding upon Lessor or her property.

13.Representations and Warranties of Lessee. Lessee covenants and warrants the following:

(a)Lessee shall use the Horse for riding and showing purposes only as a Pony Hunter, and for associated pony equitation and medal classes. Horse is not to jump higher than3’3 in competition or training. 

(b)For performing their obligations hereunder, Lessee shall comply with all applicable laws or regulations of all federal, state and local agencies relating to the use, care and maintenance of show horses.

(c)Lessee shall comply with all applicable rules and regulations of the USEF to maintain Horse in good standing during the term of the lease. Lessee shall also be responsible for refraining from any action taken during the term of the lease which could cause Horse to be suspended during the term of the lease and/or within the one year period following the termination of the lease. Lessee shall comply with all USEF rules and regulations regarding medications at USEF sanctioned horse shows. In the event Lessee fails to comply with any and all USEF rules and regulations as they concern the Horse’s good standing with the USEF, Lessee shall pay lessor any and all damages caused by Lessee’s failure to maintain the Horse’s good standing with the USEF. 

(d)Lessee shall maintain the Horse atBobby Ginsberg Show Stables as the Horse’s primary residence, unless otherwise mutually agreed to by both Lessor and Lessee. The Horse may be temporarily stabled at other suitable equine facilities for the purpose of veterinarian treatment or showing the Horse at USEF sanctioned horse shows. Temporary stabling for horse show purpose shall not exceed two months (2 Months) unless mutually agreed to by both Lessor and Lessee. Only upon prior written approval of Lessor may Lessee move the Horse to another stables as the Horse’s primary residence during the term of the lease. The Horse must remain under the care and training ofJennifer Christensen, Debbie Moore, Bobby Ginsberg. In the eventJennifer Christensen, Debbie Moore, Bobby Ginsberg is unable to care for and train the Horse. Upon mutual agreement between Lessor and Lessee another trainer may be named to care for and train the Horse.

(e)Lessee shall permit inspection by the Lessor, or Lessor’s veterinarian or agent of the Horse at the premises where the Horse is maintained at any and all reasonable times. Lessor will give Lessee or Lessee’s trainer a 24 hour notice of any intent to inspect Horse. Lessee agrees to notify Lessor of any injury, lameness, or illness within 24 hours.

(F) Lessee shall keep the Horse free and clear of all liens, encumbrances or other claims which may attach through Lessee’s activities. In the event any lien, encumbrance or other claim is filed against or attaches to the Horse as a result of some action by Lessee or their agents or employees, Lessee shall notify Lessor in writing promptly of such filing and shall, within thirty (30) days of such filing or upon such earlier date as any suit shall be filed by a creditor:

(G)obtain full and complete release of lien, or

(GG)in good faith contest the lien and the underlying obligation and post a bond in accordance with the applicable Laws sufficient to obtain a release of the Horse from the lien. In the event Lessee does not obtain such a release on a timely basis with payment in full of the corresponding claim or bonding, Lessor shall have the right, but not the obligation, to obtain a release of the lien and receive immediate reimbursement from Lessee.

(h)Lessee shall not pledge, lend, create a security interest in sublease or part with possession of the horse or attempt in any other manner to dispose of the Horse without Lessor’s prior written permission.

(i)Lessee shall pay all truces, assessments and other governmental charges levied upon the leasehold interest in the Horse created by this Agreement.

(j)Lessee has the power to execute, deliver and perform this Agreement which has been duly authorized by all necessary action on the part of Lessee.

(k)The execution delivery and performance of this Agreement will not violate any provision of any existing mortgage, indenture, contract, or other agreement to which Lessee is a partyor purports to be binding upon Lessee or her properties.

12. Indemnification. During the term of this Agreement and after its termination or expiration, Lessee shall, on demand of lessor, indemnify Lessor against and hold Lessor harmless from any and all liabilities, demands, losses, claims, and damages of any kind, whether on account of injury to or death of any person or persons, damage to or loss of property, violation of law or regulation, or otherwise, arising out of or attributable, directly or indirectly, to Lessee’s breach of or failure to perform the obligations assumed or representations and warranties made under this Agreement, together with any and all costs and expenses including reasonable attorneys’ fees which may be incurred by Lessor in connection therewith.

13.Ownership. Ownership of all rights, title, and interest, legal and beneficial, in the Horse shall at all times remain solely in the Lessor, subject to the rights of use and possession vested in the Lessee by this Agreement.

14.Default by Lessee. Upon Lessee’s breach of or default in the timely performance of all obligations arising hereunder, or in the event of a breach of any warranty or representation of Lessee hereunder, Lessor may in addition to and not limitation of any and all other rights and remedies available to Lessor at law or in equity.

(a)Terminate the lease and obtain immediate possession of the Horse; and/or

(b)Institute suit to collect any and all damages or other sums which may accrue to Lessor pursuant to the terms of this Agreement or otherwise at law or in equity.

15. Miscellaneous.

(a)Assignment. This Agreement and the rights hereunder shall not be assignable by either party without the prior written consent of the other party.

(b)Modifications. No change or modification of this Agreement shall be valid unless it is in writing and signed by both parties.

(c)Notices. All notices to be furnished as required herein shall be sent to the respective parties by registered or certified mail, postage prepaid, return receipt requested, at the addresses set forth above. The parties may change the addresses to which notices are to be directed by means of notice to the other party. In day-to-day correspondence regarding the health and well-being of the Horse, e-mail shall serve as appropriate written communication.

(d)Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same instrument.

(e)Severability. If any provision of this Agreement, or the application of such provision to any person or circumstance, shall be held invalid, the remaining provisions of this Agreement, and the application of such provisions to persons or circumstances other than those to which it is held invalid, shall not be affected thereby.

(f)Entire Agreement. This Agreement constitutes the entire agreement among the parties and supersedes any prior agreement or understandings among them.

(g)Waiver. No waiver of any breach or condition of this Agreement shall be deemed to be a waiver of any subsequent breach or condition of a like or different nature.

(h)Binding Effect. This Agreement and all the terms and provisions hereof shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective heirs, personal representatives, successors, agents and permitted assigns.

(i)Captions. Captions contained in this Agreement are inserted only as a matter of convenience and no way define, limit or extend the scope or intent of this Agreement or any provision hereof.

(j)Governing Law. This Agreement and the rights of the parties hereunder shall be governed by, and construed in accordance with the laws of, the State of California.

IN WITNESS WHEREOF, the parties have executed this Agreement the day, month and year first above written.

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