Rental Deposit

In consideration of the mutual promises contained herein together with the payment to Track by Lessee of the Track Rental as set forth on Exhibit A attached hereto and made a part hereof, together with the payment of any other amounts that are required to be paid pursuant to this contract by Lessee to Track, it is hereby mutually agreed as follows:
1. Track will make available to Lessee specific areas of the premises commonly known as Island Dragway (the "Premises"), consisting primarily of a drag strip, for the purpose indicated on Exhibit A (the "Event").
2. Lessee shall have the right to enter and be upon the Premises during the periods of time specifically identified on Exhibit A as the "Event Date", or until two (2) hours after the end of the last race, whichever should occur first; however, in no event shall racing activities continue on the race circuit on any Event Date beyond the time identified on Exhibit A. If weather or daylight conditions warrant, Track may, in its sole discretion, require an earlier conclusion to racing activities.
3. The agreed upon Track Rental amount shall be payable to Track as set forth on Exhibit A. Additional services or facilities necessary for Lessee’s Event are available as shown on Exhibit B. This Exhibit B must be returned along with the signed contract and deposit. Payment for these additional services will be made along with the balance of the rental due.
4. The minimum liability insurance coverage required for the Event(s) on the Premises is:
a. GENERAL LIABILITY:
i. $1,000,000 per occurrence, including Products and Completed Operations and Participant Legal Liability
ii. $1,000,000 per occurrence for Personal and Advertising Injury


b. PARTICIPANT ACCIDENT (Through NHRA Approved Company, either Safehold or K&K Insurance)
i. $10,000 Acc Death,
ii. $10,000 Acc Dismemberment,
iii. $15,000 Ex medical
iv. Weekly Dis 100 @ 52 weeks
Lessee may provide, at its own cost, liability coverage from AM Best “A” rated carriers meeting the above minimum limit requirements. Lessee must submit acceptable proof of coverage (certificates of insurance and/or, if requested by track, the actual policies of insurance) at least 14 business days prior to the Event. Track reserves the right to reject any insurance policies presented by Lessee that do not, in the sole discretion of Track, meet minimum requirements. Track also may require additional coverages in its sole discretion. All general liability policies of insurance shall specifically name as additional insureds the following: “Motorsports Management of North Jersey LLC, Great Meadows Timing Association Inc, and its members, agents, employees, affiliates, subsidiaries, parent corporations or limited liability companies and for each of them, their officers, directors, shareholders and their respective heirs, executors, successors and assigns”.

5. Lessee agrees to protect, hold harmless, indemnify and defend Motorsports Management of North Jersey LLC, Great Meadows Timing Association, Inc. and its members, agents, employees, affiliates, subsidiaries, parent corporations or limited liability companies, officers, directors, shareholders and each of them, together with their heirs, executors, successors and assigns, from all claims, causes of action, suits, judgments, and liabilities of any kind and nature which may arise out of or as a result of the Lessee's use of the Premises, or by the Lessee's members, guests, invitees, agents, employees or contractors use of the Premises. Notwithstanding anything to the contrary contained herein, this indemnity obligation shall not apply to the willful misconduct of Track.
6. All persons, with the exception of paying spectators, entering the Premises must first sign the Release Form supplied by Track.
7. Lessee shall not offer, nor allow any third party to offer, any item for sale on the Premises; nor shall Lessee or any third party conduct any business on the Premises except with the express permission of Track. If there are to be vendors, vendors must have a certificate of insurance showing Motorsports Management of North Jersey, LLC and Great Meadows Timing Assoc, Inc as additional insureds. Vendor list to be given to and approved by track minimum of 7 days prior to event. There shall be no concessions or alcohol vendors.
8. Lessee shall clean up any trash upon the Premises and place such refuse in the containers provided by Lessor, thereby leaving the Premises in the same condition (normal wear and tear excepted) existing at the beginning of Lessee’s entitlement to enter and be upon the Premises. If Lessee fails to return the Premises to Track in this required condition, Track reserves the right to perform the necessary clean-up, including costs associated with the removal of used tires, at the sole expense of the Lessee.
9. Track expressly and absolutely reserves the right to eject from the Premises, or to deny access to the Premises, any person or persons, at any time during the event, at its sole discretion. Track shall incur no liability to Lessee in exercising this right.
10. Track, or its designated agent, shall have the right to declare Lessee to be in default and to terminate Lessee's occupation and use of the Premises at any time during the term of this Agreement upon observation of any activity, action, or lack thereof constituting a breach of this Agreement. .
11. Lessee shall abide by all rules, ordinances, laws and regulations issued by any Federal, State, County or local governmental unit, in effect during the term of this Agreement. Any violation of the foregoing shall be the sole responsibility of Lessee, whether charged against Track or Lessee, including fines, costs, fees, attorney's fees or expenses incurred in defending any such charges, all of which shall be paid by Lessee. Track will give notice to Lessee of any pending complaints or charges of violation issued by any governmental unit within a reasonable time after receipt by Track. Lessee agrees to comply with all rules and regulations for the Raceway in effect during the Lease Period, including without limitation all of the following. Island Dragway will advise Lessee of any additional applicable rules and regulations.
a. Fuel. Only official fuel, if any, of Island Dragway may be sold, given away or otherwise transferred at the Raceway, and no other fuel may be sold, given away or otherwise transferred at the Raceway. Where a “spec” fuel is permitted to be used the fuel supplier will not be allowed to sell fuel to any other race groups participating at that event.
b. Advance Notice. Advance notice for all services and equipment is required. Any physical changes to the Raceway required by Lessee, e.g. temporary fences, barricades, electrical services, etc. must be requested at thirty (30) days prior to the Lease Period.
c. Postings. A bulletin board or posting area is provided. No postings may be made on any building or on any interior walls of buildings unless by prior written approval of Island Dragway.
d. Inspection. Island Dragway’s staff will inspect the Raceway both prior to the start of the Lease Period and at the end of each day during the Lease Period. The Designated Representative or alternative representative of the Lessee must be available for those inspections. These inspections are intended to discover any damage to the premises and any obvious hazards to those in attendance at the Raceway.
e. Catering. Services are available, costs vary due to menu and head count; Lessee will be billed and will pay for all services/items used. NO outside food and beverage may be brought into the track.
f. Alcohol. Lessee may not cause or allow any alcoholic beverages at the Raceway without the prior written approval of Island Dragway.
g. Camping. No overnight camping in any form is allowed at the Raceway without the express written permission of Island Dragway.
h. Environmental Regulations. Island Dragway will be responsible for compliance with all federal, state and local environmental rules and regulations with respect to activities carried out upon the Leased Premises by Island Dragway, its employees, servants and agents. Any claim of obligation or liability against Island Dragway due to Island Dragway’s failure to comply with such rules and regulations is expressly understood to fall within the indemnification provisions of this Agreement.
i. Advertising. Lessee will provide copies of it’s advertising materials to Island Dragway not less than 30 days prior to the Event. Island Dragway shall have the right to approve such materials to the extent that the materials utilize the name and/or any logos associated with Island Dragway or the Raceway.
12. Sponsorships, Concessions and Ticket Sales.
a. Sponsorship. Island Dragway must approve any sponsor or advertiser of Lessee or other activity of Lessee, which will receive recognition at the Raceway, in advance. Island Dragway expressly reserves the right to restrict Lessee’s recognition of sponsors and advertisers whose business conflicts with that of any sponsor or advertiser of Island Dragway, is judged by Island Dragway to be inconsistent with the image and reputation of Island Dragway, or otherwise is deemed by Island Dragway not to be in Island Dragway’s best interests. The foregoing limitation includes, without limitation, any obligations of Island Dragway under agreements for signs, billboards, scoreboards, suites etc. that may preclude Lessee’s sponsor and advertising activities. Lessee may post signs recognizing approved sponsors, but in no instance may such signage obscure in any way the permanent signage which already exists at the Raceway or be posted in a manner which damages or alters any existing facility or equipment.
b. Concessions. Lessee shall not have the right to sell concessions, souvenirs or event programs at the Raceway without Island Dragway’s approval. In the case of such approval, Lessee will provide Island Dragway with a complete list of any third party vendors, which will sell concessions, souvenirs or programs at the Raceway. In the event third parties are permitted to conduct such activities, they will be required to enter agreements acceptable to Island Dragway which shall contain provisions and include but are not limited to indemnification of Island Dragway and requirements of such insurance as is required by Island Dragway.
c. Tickets. If Lessee intends to charge admission to spectators attending Lessee’s event at the Raceway, Lessee must inform Island Dragway of its intention to do so and agree to allow an individual(s) designated by Island Dragway to conduct all such ticket sales, using Island Dragways ticketing equipment. If Island Dragway is to share in any portion of revenues collected by Lessee, then Island Dragway shall have the right to the inspection of records and audit to verify accuracy of reporting. Lessee has the right to supervise all ticket sales. Admission price list must be given to Island Dragway a minimum of 7 days prior to event.
d. Souvenirs. Lessee shall have all rights to souvenirs at the Raceway, except Island Dragway will have the right to sell souvenirs from two (2) locations. Lessee shall not have any rights to the two (2) Island Dragway locations.
13. Lessee warrants and represents that all racing or on-track activities shall be conducted in accordance with the rules and regulations of the governing sanctioning body in effect as of the date of the Event. Lessee shall be responsible for enforcing, or in the absence of any rules established by a sanctioning body, establishing and enforcing, all rules and regulations. Lessee shall establish a minimum level of staffing necessary for the conduct of on-track activities and shall inform Track of this minimum. Lessee shall not conduct any on-track activities unless the minimum requirement is met. If Track determines, in its sole discretion, that inadequate staffing is in place, Track may place additional workers on location at the expense of Lessee. TRACK MAKES ABSOLUTELY NO WARRANTIES, EITHER EXPRESSED OR IMPLIED concerning the safety of any persons or property as a result of complying with the requirements of this Agreement. Lessee acknowledges that motor sports activities are hazardous and participation can lead to serious or fatal injury; that the hazards of motor sports are known to its members; and that its members, participants, their crews and guests have assumed the risk of any injury by choosing to participate and attend the event at the Premises.
14. If any provision of this Agreement shall be determined to be illegal or unenforceable, in whole or in part, all other parts shall continue in full force and effect and shall be fully performed by the parties hereto.
15. This Agreement shall be subject to and controlled by the substantive and procedural laws of the State where Track is physically located, and regardless of where executed shall be deemed to have been entered into in the State and county where Track is physically located. This Agreement shall be in full force and effect upon execution by both parties and upon receipt by Track of the deposit required to be paid upon execution, as set forth on Exhibit A.
16. Cancellation/Postponement. In the event Lessee desires to cancel this Lease, Island Dragway will reimburse Lessee the following amounts provided ISLAND DRAGWAY receives written notification as set forth below
a. If notice of cancellation is received sixty (60) or more days prior to the first date of the Lease Period identified in Exhibit A, Island Dragway will refund 50% of the amount of deposit paid by Lessee.
b. If notice of cancellation is received less than sixty (60) but more than twenty-nine (29) days prior to the first date of the Lease Period identified in Exhibit A, Island Dragway will refund 25% of the amount of deposit paid by Lessee.
c. If cancellation is received less than thirty (30) days prior to the first date of the Lease Period identified in Exhibit A, then Lessee shall be entitled to no refund of the deposit and Lessee shall remain liable for the full amount of the base rental fee identified in Exhibit A.
d. Island Dragway and Lessee agree that if Lessee cannot conduct its planned activity at the Raceway due to weather conditions or other events beyond its control, Island Dragway will provide the Lessee with a "Rain Date." Lessee is responsible for any additional expenses caused by rain or other delay. If a mutually acceptable date cannot, despite the good faith efforts of each party, be agreed upon, Island Dragway shall retain any deposit paid by Lessee and Lessee agrees to pay Island Dragway for any portion of the goods and services provided by Island Dragway that were already provided and/or could not be cancelled for the original Lease Period.

17. Any notices required to be given, or for the convenience of the parties, may be given at the office of Track : Island Dragway PO Box 184 Great Meadows, NJ 07838 and to Lessee at the address given below.
18. The rights and obligations of the parties hereunder shall be binding upon their heirs, successors and assigns.
19. All references to the singular shall include the plural and vice versa, and references to male shall include the female and vice versa, as may be required in interpreting this Agreement.