Bareboat Timeshare or Charter Agreement

After contacting Baileywick Company to schedule your charter, complete this Agreement and the experience Resume Form "on-line," print them out, sign, and mail to Baileywick Company at the above address with your check. As an alternative, the completed Agreement and Resume forms can be faxed to 410-326-3982. However, you still need to mail the check or, if time does not allow, make arrangements to hand carry the check with you.

This Agreement between the Baileywick Company [Company] of Solomons, MD, and the Customer described in the "Selection and Cost Section" concerns use of the yachts described at the end of this Agreement.

Terms:
1. Subsequent Use: The terms of this Agreement cover any subsequent days chartered on yachts in the Company fleet during the specified year. Deposit is due at the time of scheduling and charter fee is due at least 7 days prior to use. Personal checks and cash are accepted.  Credit cards are not.

2. Company Responsibility: In consideration of the charter fee, the Company agrees to deliver the yacht, equipped and prepared for bareboat charter service (exclusive of crew, food, blankets, linens, towels, and disposables) at the location specified.

3. Delivery: Should it be impossible for the Company, for causes beyond its control, to make delivery at the time and place agreed upon, the Company shall reschedule Customer's use to the satisfaction of the Customer or refund the fee for the prorated time such delivery is delayed. Should the Customer not accept delivery of the yacht, for whatever reason, at the scheduled time, the Company may hold the yacht for the Customer for the length of that scheduled use period.

4. Cancellation: It is agreed that should Customer cancel this agreement with more than 30 days notice prior to beginning date of use the Company will refund to Customer all deposits or fees that have been paid, less a $50 cancellation fee. If less than 30 days notice is given, the deposit, less the cancellation fee, will be refunded only if the Company is able to obtain a substitute booking.

5. Return: Customer agrees to return the yacht before 7 p.m. on the last day of the scheduled use period to the location specified in the "Definitions" section of this Agreement, unless other arrangements have been agreed upon previously. Yacht shall be delivered free and clear of any indebtedness that may have been incurred during the term of the use and in as good condition and in as clean a state as when delivery was taken, except for fair wear and tear from ordinary use. A cleaning fee of $50 may be charged or deducted from the security deposit if cleaning is necessary by the Company or next user. Should the Customer not return the yacht at the time and place stipulated, additional use fee shall be paid to the Company for the time that such delivery is delayed plus any losses that may occur due to delayed delivery which causes the Company to be unable to meet agreements with later charterers or timesharers. Customer agrees to pay delivery costs to the identified location if the yacht is left elsewhere.

Sections 6. through 7.5 applicable to Timeshare Use only

6. Timeshare Rules for Scheduling of Use:

6.1 Timesharer is responsible for advance scheduling for use of contracted days using the scheduling rules herein. Days not used during the season will be lost. Scheduled use may begin at 7 p.m. on the day prior to the scheduled use date. Scheduled days canceled with less than five (5) days notice will be charged as days used unless that time is used by other Timesharers.

6.2 Initial advance scheduling is initiated around February 10 with replies from Timesharers due March 1. Timesharers submit their proposed use periods in priority order. Turn order for selection of use periods is done by scheduling the first requested use period that has no conflict. On each turn cycle, the next priority use period will be selected if the period is not previously assigned. Timesharers may be contacted after a turn cycle if conflicts exist. Turn cycles are repeated until all time desired to be advance scheduled is used. Results of scheduling will be announced by email and posted in the Baileywick Schedule webpage and mailed to Timesharers without email around March 1. Adjustments to the schedule may be done by telephone, FAX, email, or US mail.

6.3 Timesharer may not schedule more than 2 weekend days per week of use purchased unless:

a. trades are made with other timesharers for their weekend days,

b. weekend days are converted to weekday status by scheduling the weekend day no earlier than the previous Wednesday, or

c. if not already scheduled, purchased as extra weekend days [see price list].

6.4 Timesharer may not advance schedule more than one holiday weekend per season.

6.5 Yacht Owner may schedule, prior to the advance scheduling process, one use period of up to 7 days. At all other times, the Owner must advance schedule in accordance with the provisions of this Agreement.

7. Timeshare Use Payments:

7.1 Timesharer agrees to pay the Company the entire amount of the lease price shown on the last page of this Agreement, including lease price and applicable taxes. Timesharer will be responsible for the full year of payment unless a replacement is found who is acceptable to the Company.

7.2 The timeshare payment for scheduling during March is due prior to March 1 of the year of use. The payment is overdue on April 1, and interest will be charged at the rate of 1.5 percent per month of the unpaid balance. Payment for scheduling done after April 1 is due upon billing and is overdue 30 days later. Interest will be charged at 1.5 percent per month of the unpaid balance. Payments received on the timeshare account must be equal to or greater than the cost of days actually used on the yacht or remaining scheduled days are subject to being unscheduled until payment exceeds actual use.

7.3 The Timesharer agrees to pay the Company a timeshare reservation/security deposit in the amount of $400.00 [$100 for the Rainbow 24], all of which is refundable at the end of the sailing season so long as all monies owing have been paid in full. If the Timesharer is to renew participation for the succeeding year, this deposit will be retained by the Company as the reservation deposit.

7.4 The Company will offer renewal rights to the Timesharer on the next year's Agreement prior to January 1, except for due cause, in preference to new timesharers.

7.5 The Timesharer may not assign this Agreement without approval of the Company. However, the Timesharer may reassign or sell contracted days to any other Timesharer, but must notify the Company of the reassignment.

8. Legal Use: Customer agrees that the yacht shall be used exclusively as a pleasure vessel for the sole and proper use of self, family, and guests, during the term of this charter and shall not transport merchandise or carry passengers for pay, or engage in any trade. Further, Customer shall not in any way violate the laws of the United States, or of any other Government within the jurisdiction of which the yacht may be subject at any time, and shall comply with the law in all other respects. Such prohibition includes use or transport of illegal drugs and dumping of sewage, petroleum products, and trash overboard.

9. Insurance: The Company will keep in force marine insurance for the benefit of the yacht and the Customer, including protection and indemnity coverage of at least $500,000 ($300,000 for Rainbow) of the type customary for yachts in the Chesapeake Bay. The Company and its insurance underwriters accept no responsibility beyond the Protection and Indemnity insurance coverage for accidents, injuries or death due to any cause whatsoever arising out of the use of this yacht, including but not limited to sailing, powering, or the use of any equipment provided by the Company. Swimming and diving from the yacht are at the Customers sole risk.  Customer agrees to limit cruising to the Chesapeake Bay and its tributaries, unless Customer and the Company make the necessary adjustments to the insurance coverage prior to the beginning of the charter period.

10. Damage: Customer is responsible for yacht and equipment damage or loss caused by self or guests, through negligence or otherwise, but excepting normal wear and tear. Customer's liability for such damage or loss is limited to the amount of the insurance deductible (Niagara 35 is $1,200 and Rainbow 24 is $500).

11. Towing and/or Degrounding: Customer is responsible for payment of towing and/or degrounding fees if the yacht is disabled due to causes that are the result of Customer's operation, not the result of equipment failure. It is highly recommended that the Customer obtain high option towing reimbursement coverage through membership in BoatUS. Coverage for "Unlimited" amount within a TowBoatUS company service area [30 mile radius of homeport. If beyond, coverage is $1,000] per incident is available at an annual cost of $103 [subject to change by BoatUS] for any vessel the Customer operates. Contact Baileywick or BoatU.S. [800/888-4869] for further information.

12. Running Expenses: Customer agrees to accept the yacht delivered as provided and to pay all running expenses during the term of the use, including fuel, oil, and other consumable stores, and supplies for Customer and crew. Fuel charge will be based on $2.00 per engine hour used [this fee effective with the 2006 season] deducted from the deposit with credit for purchased fuel. The fuel charge is not applicable to the Rainbow 24.

13. Operating Instructions: The Company has adopted and may adopt or amend from time to time operating instructions governing the use of the Yacht and the Customer agrees to abide by these operating instructions. These operating instructions are contained in the "Yacht Operations Manual" located aboard the yacht. A copy of the Yacht Operations Manual is always available from the Baileywick Segel Operations Manual webpage or Pot of Gold Operations Manual webpage, as appropriate. The manual will also be supplied by mail on request following receipt of the reservation deposit.

14. Security Deposit: Customer agrees to pay the Company a reservation/security deposit in the amount of $400 ($100 for Rainbow 24). The deposit will be refunded after the charter use period and an inspection of the yacht condition by the Company less the cost of repair for any damages or loss of equipment not otherwise covered by insurance, and such other charges for consumable items as may have been used and not paid for during the term of the charter. Processing of return of net security deposits is done after the Company receives the completed "Baileywick Company Condition/Use Report" from the Charterer.

15. Checkout: Customer must complete a checkout and/or orientation satisfactory to the Company or designee on the yacht prior to initial use. This checkout will cover such aspects as sailing ability, engine, equipment, anchoring, sails, docking, rafting, stove, and inflatable dinghy. All these subjects, except for sailing ability, are detailed in the Operations Manual.

16. Certification: Customer certifies that the Experience Resume submitted to the Company is true and accurate, and that Customer is experienced and competent in all aspects of the handling and operation of yachts of this size and type, including practical knowledge of seamanship, piloting, and the Rules of the Road. Customer agrees not to allow the yacht to be operated by any other person not equally qualified. The Customer agrees that full authority regarding operation and management of the yacht is the Customer's for the term of this contract. The Customer assumes the responsibility for the safety of the yacht and its crew. 

17. Facsimile:  If this Agreement is sent by facsimile machine [fax], the sender adopts the Agreement received by Baileywick as a duplicate original and adopts the signature produced by the receiving fax machine as the sender's original signature.