MOTOR VEHICLE STORAGE TERMS AND CONDITIONS

This Agreement entitles Owner to store his/her Vehicle(s) at the HK Motorsports Facility through the term listed above. The parties may agree to extend the initial term by amending this Agreement in writing at least thirty (30) days prior to its expiration.

Section II - Delivery by Owner and Acceptance by HK Motorsports, Pick-up and Delivery by HK Motorsports:

i.                At or about the time of this Agreement is executed, Owner or its Authorized Agent(s) shall deliver the Vehicle(s) to the HK Motorsports Facility. The Vehicle(s) will be inspected for pre-existing damage and a vehicle condition report will be completed. Owner and HK Motorsports will both acknowledge the condition of the Vehicle(s) by signing the vehicle condition report. A vehicle condition report will be completed by HK Motorsports each time the Vehicle(s) enters or leaves the HK Motorsports Facility. 

ii.               By entering into this Agreement, Owner expressly authorizes HK Motorsports agents and employees to drive the Vehicle(s) stored by Owner at its HK Motorsports Facility as may be needed or to drive the Vehicle(s) off and on the HK Motorsports Facility for the purposes of delivery, return of the Vehicle(s), or for obtaining maintenance requested in writing by Owner. The Vehicle(s) will not be released to any person other than the Owner or Authorized Agent(s).

Section III - Hours of Operation and Appointments:

HK Motorsports’ hours of operation are Monday through Friday from 8:00 a.m. to 5:00 p.m. by appointment only. Weekends are also by appointment only. If you have self-access to the garage, please only park in your assigned space and follow the key drop procedure. 

Section IV - Safekeeping, Keys, and Maintenance: 

i.                HK Motorsports will exercise ordinary care for the safekeeping of the Vehicle(s)

ii.  Owner shall provide HK Motorsports with a duplicate set of keys to the Vehicle(s) and shall mark the keys as such. If HK Motorsports loses or damages the keys, HK Motorsports will replace the keys at HK Motorsports’ expense. 

iii.              HK Motorsports will hook up all vehicles to battery tenders, if required. However, we ask if you have self-parking that you do so.  iiii.    HK will sell a new battery tender to any client that doesn’t provide one of their own that’s in good working order. 

 Section V - Insurance, Damage or Loss, Assumption of Risk, Indemnification: 

 i.                Owner shall be responsible for ensuring that appropriate motor vehicle insurance coverage, including physical damage coverage, is in place for the duration of the Vehicle(s) storage period and shall provide proof of such coverage at the time of execution of this Agreement. Coverage shall be in an amount not less than the value of the Vehicle(s) for physical damage; $300,000 for personal injury; and $50,000 for property damage liability insurance. Owner shall present the insurance card at the time of execution of this Agreement, a copy of which shall be attached to this Agreement and shall stay in effect during the duration of this Agreement. Owner shall immediately notify HK Motorsports if changes are made to its applicable insurance policy and shall promptly provide proof of coverage to HK Motorsports if requested.  ii.       If for any reason Owner does not maintain appropriate motor vehicle insurance coverage for the Vehicle(s) for the term of this Agreement, HK Motorsports will in no event be liable to Owner for damage to the Vehicle(s) that but for the omission of Owner, would have been insured against loss by Owner’s insurance policy.  iii.                   HK Motorsports will not be liable to Owner or its Authorized Agent(s) for special damages or consequential damages under any circumstances, even if HK Motorsports has been advised of the possibility of these damages. HK Motorsports will not be liable to Owner or its Authorized Agent(s) for any loss or damage to person or property caused by fire, acts of God, acts of a public enemy, theft, vandalism, riot, strike, war, court order, requisition or order of governmental body or for any damage that may arise through repair or alteration of any part of the HK Motorsports Facility, failure to make any such repair, or disruption or loss of any utility service. By executing this Agreement, Owner agrees that this is his/her express understanding of this limited liability. 

iv.              HK Motorsports will not be liable for loss or damage occasioned by gradual deterioration of, or inherent defects in the Vehicle(s), nor for loss or damage caused directly or indirectly by terrorist acts, invasion, insurrections, riot, civil war, or by military or usurped power or by order of any government. 

v.               Owner and/or its Authorized Agent(s) assume all risks upon entering the Facility. HK Motorsports shall not be responsible for the loss of or damage to the Vehicle(s) or injury to persons occurring in or about the Vehicle(s) by reason of use or operation of the Vehicle(s) by Owner or other persons not employed by HK Motorsports or by reasons of the acts, omissions or negligence of Owner or persons other than HK Motorsports or its agents.  vi.            Except to the extent caused by the willful misconduct of HK Motorsports, Owner shall indemnify, defend and hold harmless HK Motorsports, its partners, members, agents, beneficiaries, and save them harmless from all suits, actions, damages, liabilities, and expenses relating to the loss of life, bodily or personal injury, or property damage arising from or out of any occurrence involving the Vehicle(s). If HK Motorsports shall, without fault on its part, be made a party to any action commences by or against Owner, Owner shall protect and hold HK Motorsports harmless and shall pay all of HK Motorsports’ costs and expenses associated therewith, including by not limited to, reasonable attorneys’ fees and costs. Owner’s obligations pursuant to the foregoing indemnity shall survive the expiration or earlier termination of this Agreement. 

Section VI - Termination:

In the event of termination of this Agreement for any reason, Owner shall promptly remove Vehicle(s) located at the HK Motosports Facility. Release to and acceptance of the Vehicle(s) by Owner will be considered an acknowledgement by Owner that the storage created thereby has been terminated, and no claim for loss of or damage to the Vehicle(s) may be filed subsequent to the fate of termination. Notwithstanding the foregoing, HK Motorsports shall have no obligation to release the Vehicle(s) until all fees and charges due HK Motorsports have been paid in full. After thirty (30) days from receipt of notice of the termination of the Agreement, Owner shall owe HK Motorsports a fee of $100 per week for each week Owner does not take possession of the Vehicle(s) stored by HK Motorsports. This does not prevent HK Motorsports from taking any other actions that are permitted by applicable law. Requests for early removal of the vehicle prior to the end of the term shall not entitle the Owner to any refund. 

 Section VII - Default:

In the event Owner fails or refuses to make any payments required by this Agreement within thirty (30) days after the payment is due, Owner shall be in default of this Agreement and HK Motorsports shall be entitled to terminate this Agreement and pursue and remedies to which HK Motorsports may be entitled under this Agreement or the laws of the

State of New York. In the event that an arbitration or any other legal proceeding is filed by HK Motorsports in relation to this Agreement and HK Motorsports prevails in the action, Owner shall be liable to HK Motorsports, in addition to all other sums he or she may be obligated to pay for reasonable attorney’s fees and arbitration and/or court costs. In the event of default, HK Motorsports may, but is not required to, have the Vehicle(s) towed to an independent impound lot at Owners expense. In such event, Owner shall be responsible for all subsequent fees and costs charged by the impound lot. 

Section VIII - Title: 

i.                All vehicles delivered to the HK Motorsports Facility shall be properly titled with the State of New York Department of Motor Vehicles, or other appropriate agency for vehicles registered in a jurisdiction other than New York. By executing this Agreement, Owner represents and warrants that it has properly titled and registered any Vehicle(s) before delivering them to HK Motorsports. 

ii.               Title to the Vehicle(s) is, and will at all times, remain in the Owner’s name. If Owner transfers title to the Vehicle(s), Owner must immediately notify HK Motorsports and the new Owner must execute a new Agreement if the new Owner chooses to continue to store the Vehicle(s) with HK Motorsports. 

Section IX - Arbitration: 

Any dispute arising under this Agreement shall be settled by arbitration pursuant to the Fast-track rules of the American Arbitration Association using a single arbitrator. The findings and award of the arbitrator chosen shall be final and binding to all parties hereto. The prevailing party in arbitration or in any legal proceeding will be reimbursed reasonable attorney’s fees and all arbitration/court costs associated with the dispute, including the filing costs and the costs for the arbitrator. Should an action to confirm the award be required, the prevailing party will also be entitled to all costs and all attorney's fees incurred, including fees for determining a reasonable amount of attorney’s fees. 

Section X - Modification, Entire Agreement, Severability and Assigns:

The parties agree that no modification or amendment of this Agreement shall be binding unless the modification or amendment is in writing and duly accepted and executed by both parties. This Agreement constitutes the entire agreement and understanding of the parties, and no representation or promises have been made that are not fully set forth. All the terms, covenants and conditions of this Agreement shall inure to the benefit of, and be binding upon the parties hereto and their respective heirs, executors, administrators, and/or successors and assigns. If a court should find that any provision of this Agreement is invalid or unenforceable, but that by limited said provision it would become valid and enforceable, then said provisions shall be deemed to be written, construed and enforced as so limited. 

 THIS AGREEMENT SHALL BE SUBJECT TO THE LAWS OF THE STATE OF NEW YORK. VENUE FOR ARBITRATION SHALL BE IN WESTCHESTER COUNTY, NEW YORK.