SUBSTITUTION OF VESSEL. If Tenant intends to substitute a different vessel for that referred herein, the Port gives no assurance that the slip assignment designated herein will accommodate such other vessel or that another slip assignment will be available. Therefore, no vessel shall be substituted for that referred to herein without the prior approval of the Port. If the vessel represented herein is moored in another slip (other than that assigned herein), it will be subject to transient moorage rates unless specifically authorized by the Port. 12. ASSIGNMENT AND TRANSFER Tenant shall not assign, transfer or sublet this agreement and/or the slip designated herein without prior approval of the Port. If Tenant is a corporation, Tenant further agrees that if at any time during the term of this agreement more than one-half (1/2) of the outstanding shares of any class of stock of Tenant shall belong to any stockholder other than those who own more than one-half (1/2) of the outstanding shares of that class of stock at the time of the signing of this agreement, or other than members of their immediate families, such change in ownership of stock of Tenant shall be deemed an assignment of this agreement within the meaning of this paragraph. Use of the designated slip is personal to Tenant and a person purchasing the vessel or any partnership or other interest therein from Tenant will not thereby acquire rights under this agreement, or rights to use the slip in the absence of such an amendment. In the absence of express authorization by means of an amendment to this agreement, failure of Tenant to keep title to the vessel documented or registered under applicable Federal, State, or foreign law and regulations exclusively in the name of Tenant shall constitute a violation of this agreement subject to the termination provisions of paragraph 18 below. The Port reserves the right to withhold its consent to any future amendment to this agreement requested by Tenant even though on occasion it may consent to one or more such amendments. 13. EMERGENCY AUTHORITY In the event the Tenant's vessel, or a vessel in an adjacent slip is, in the sole judgment of the Port, subject to loss, destruction, or damage from any cause, the Port may, but is not required, to carry out any procedure which the Port deems reasonable to endeavor to prevent any such loss, destruction or damage, including removing the vessel to dry land storage. Dry land storage fee and the cost of haul-out will be charged to Tenant's account. Any costs so incurred by the Port shall be for the order of the Tenant and the Tenant shall hold the Port harmless from all such costs or expenses so incurred. For the purpose of carrying out any procedures as contemplated by this paragraph and/or for the purposes of incurring any expenses as hereinafter contemplated, the Tenant does hereby hold the Port harmless from any loss, destruction, or damage to the vessel described herein and personal property located thereon. The authority granted in this paragraph shall be exercised only at times when, in the sole judgment of the Port, an emergency is deemed to exist, and such authority may be carried without notice to the Tenant. 14. REASSIGNMENT Moorage may be reassigned, at the option of the Port, to other slips or spaces within the Marina to accommodate repairs, improvements, maintenance, construction, emergencies, or when otherwise desirable in the Port's opinion. In the event of reassignment, Tenant shall receive a new slip as nearly comparable in location to the slip designated herein as is available and the Port will take reasonable measure to notify Tenant of reassignment. In the event the Tenant is not available, Tenant hereby grants the Port and its agents and employees access to the vessel for relocation. As provided in paragraph 3, the Port does not assume any responsibility for the vessel on the basis of the foregoing rights. Initials 15.
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SUBSTITUTION OF VESSEL. If Tenant Licensee intends to substitute a different vessel for that referred the one designated herein, the Port gives no assurance that the slip assignment designated herein will accommodate such other vessel or that another slip assignment will be available. Therefore, no vessel shall be substituted for that referred to one designated herein without the prior approval of the Port. If the vessel represented designated herein is moored in another slip (other than that assigned herein), it will be subject to transient moorage rates rates, unless specifically authorized by the Port. 1213. ASSIGNMENT AND TRANSFER Tenant Licensee shall not assign, transfer transfer, or sublet this agreement and/or the slip designated herein herein, or any partnership or other interest in either, without prior approval of the Port. If Tenant is a corporation, Tenant further agrees that if at any time during the term of first obtaining an amendment to this agreement more than one-half (1/2) from the Port authorizing such action and no rights hereunder in or to said moorage slip shall pass by operation of law or other judicial process or through insolvency proceedings. For the outstanding shares of any class of stock of Tenant shall belong to any stockholder other than those who own more than one-half (1/2) of the outstanding shares of that class of stock at the time of the signing purpose of this agreement, any change of ownership including sale, liquidation, or other than members disposition of their immediate families, such change in ownership some or all of the corporate stock of Tenant shall or limited liability company units will be deemed considered an assignment of this agreement within the meaning of this paragraphassignment. Use of the designated slip is personal to Tenant Licensee and a person purchasing the vessel or any partnership or other interest therein from Tenant Licensee will not thereby acquire rights under this agreement, or rights to use the slip in the absence of such an amendment. In the absence of express authorization by means of an amendment to this agreement, failure of Tenant Licensee to keep title to the vessel documented or registered under applicable Federal, State, or foreign law and regulations exclusively in the name of Tenant Licensee shall constitute a violation of this agreement subject to the termination provisions of paragraph 18 below. The Port reserves the right to withhold its consent to any future amendment to this agreement requested by Tenant Licensee even though on occasion it may consent to one or more such amendments. 13. EMERGENCY AUTHORITY In the event the Tenant's vessel, or a vessel in an adjacent slip is, in the sole judgment of the Port, subject to loss, destruction, or damage from any cause, the Port may, but is not required, to carry out any procedure which the Port deems reasonable to endeavor to prevent any such loss, destruction or damage, including removing the vessel to dry land storage. Dry land storage fee and the cost of haul-out will be charged to Tenant's account. Any costs so incurred by the Port shall be for the order of the Tenant and the Tenant shall hold the Port harmless from all such costs or expenses so incurred. For the purpose of carrying out any procedures as contemplated by this paragraph and/or for the purposes of incurring any expenses as hereinafter contemplated, the Tenant does hereby hold the Port harmless from any loss, destruction, or damage to the vessel described herein and personal property located thereon. The authority granted in this paragraph shall be exercised only at times when, in the sole judgment of the Port, an emergency is deemed to exist, and such authority may be carried without notice to the Tenant. 14. REASSIGNMENT Moorage may be reassigned, at the option of the Port, to other slips or spaces within the Marina to accommodate repairs, improvements, maintenance, construction, emergencies, or when otherwise desirable in the Port's opinion. In the event of reassignment, Tenant shall receive a new slip as nearly comparable in location to the slip designated herein as is available and the Port will take reasonable measure to notify Tenant of reassignment. In the event the Tenant is not available, Tenant hereby grants the Port and its agents and employees access to the vessel for relocation. As provided in paragraph 3, the Port does not assume any responsibility for the vessel on the basis of the foregoing rights. Initials 15.
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