------------------, referred to as OWNER, and ---------------------, referred to as CHARTERER, agree:
OWNER charters the vessel named ___________________, with registration number ______, to CHARTERER, subject to the following terms and agreements:
CONDITION ON DELIVERY
Age of vessel:
Value of vessel: $ (dollars)
Maximum accommodation of passengers:
Last inspection by ____________________, dated ___________, 20 __.
Prior to acceptance of the vessel, CHARTERER shall have the right to have the vessel surveyed by an independent, qualified, marine surveyor. In the event that the surveyor reports that the vessel is not seaworthy, OWNER will remedy these conditions at OWNER's expense and will reimburse the reasonable costs of the inspection.
Upon acceptance of the vessel, CHARTERER acknowledges that the vessel is in good condition, fit for the proposed use by the CHARTERER and seaworthy.
CHARTERER acknowledges that the vessel is of size, design, and capacity suitable for charterer's use.
TERM AND RENT
The length of this agreement shall be months at a rate of $ (dollars) per month payable in advance to the owner without deduction or offset.
OWNER acknowledges that CHARTERER has deposited with the OWNER a security deposit of $ (dollars) and CHARTERER agrees that this deposit shall be security for performance of charterer's obligations under this agreement. No interest shall be paid on the deposit and the deposit may not be applied to rent.
The vessel will be permanently berthed at _________________. CHARTERER shall give owner [--] days written notice of any change in permanent berthing of the vessel, and owner shall have the right of reasonable approval any proposed change in location.
CHARTERER shall not remove the vessel from the following geographical area without prior written permission from the owner:
LIABILITY FOR LOSS OR DAMAGE
CHARTERER assumes all risk of loss of or damage to the vessel. CHARTERER shall bear all expenses for fuel and other normal supplies and maintenance. CHARTERER shall employ persons with such licenses and ratings as may be required to operate the vessel. In the event of the breach of any term herein, Owner shall have the right to retake possession of the vessel.
CHARTERER shall maintain marine insurance, fully covering the vessel for all insurable risks with a company satisfactory to the OWNER in the value of the vessel. OWNER shall either be named a co-owner or loss payee of the policy. CHARTERER shall provide proof of such coverage to OWNER. It shall be a breach of this agreement for the CHARTERER to fail to maintain such insurance. In the event that such insurance is not maintained, OWNER may obtain such insurance, either for both parties interest or the single interest of the OWNER, and the premium shall be considered as additional rental.