Pit Lease Terms & Conditions

PIT SPACE LEASE AGREEMENT

THIS LEASE AGREEMENT (the "Agreement") is made and entered into on this date, by and between:

LESSOR: Gulf Coast Karters, Inc., a Texas corporation with its principal office located at 1304 Danbury Road, Houston, Texas ("GCKI" or "Lessor")
and
LESSEE: The GCKI Master Member identified in the online registration system ("Lessee")

WHEREAS, Lessor desires to lease certain pit space to Lessee, and Lessee desires to lease such pit space from Lessor, the parties agree as follows:

1. PREMISES AND TERM
   1.1. Lessor hereby leases to Lessee, and Lessee hereby leases from Lessor, the pit space    identified through GCKI's online system (the "Premises"), for a term of one (1) year commencing on the date of this Agreement.
   1.2. The specific location and dimensions of the Premises shall be as designated by GCKI's Board of Directors and marked accordingly on the property.
2. RENT AND ELIGIBILITY
   2.1. Lessee shall pay annual rent of One Thousand Two Hundred Dollars ($1,200.00) per pit space, due in advance through GCKI's website.
   2.2. Only current GCKI Master Members in good standing are eligible to lease and maintain pit spaces.
3. USE AND LIMITATIONS
   3.1. Permitted Use: The Premises shall be used solely for the storage of karts and related equipment and to facilitate track practice access.
   3.2. Prohibited Use: The Premises shall not be used for overnight accommodation of any kind.
   3.3. No Warranties: Lessor makes no representations or warranties regarding:
         3.3.1. The suitability of the Premises for any particular use
         3.3.2. The security of stored items
         3.3.3. Protection against theft, flooding, weather damage, or other hazards
4. ACCESS AND TEMPORARY RELOCATION
   4.1. Event Accommodation: Lessor may require temporary relocation of Lessee's property to accommodate GCKI events, provided that:
       4.1.1. Lessor shall provide at least thirty (30) days' written notice
       4.1.2. Lessee shall cooperate in relocating equipment either on-site or off-site as required
       4.1.3. Lessee's failure to cooperate shall constitute a breach of this Agreement
5. UTILITIES AND MAINTENANCE
   5.1. Electricity is available for Lessee's use while on the Premises but must be disconnected when Lessee is not present.
   5.2. Lessee shall:
       5.2.1.  Maintain the Premises in a clean and sanitary condition
       5.2.2. Remove all trash and debris
       5.2.3. Return the Premises in its original condition upon termination, excepting ordinary wear and tear
6. ASSIGNMENT AND SUBLETTING
   6.1. Lessee shall not assign this Agreement or sublet any portion of the Premises without Lessor's prior written consent.
7. DEFAULT AND TERMINATION
   7.1. The following shall constitute events of default:
       7.1.1. Failure to pay rent when due
       7.1.2. Loss of GCKI Master Member status
       7.1.3. Violation of any term or condition of this Agreement
   7.2. Upon default, Lessor may immediately terminate this Agreement without notice.
   7.3. No refunds shall be issued for unused portions of the term or early termination for any reason.
8. RENEWAL
   8.1. Renewal Rights: Lessee may renew this Agreement before the expiration date of the term for the following year, subject to:
       8.1.1. Availability of the Premises
       8.1.2. Lessor's right to terminate or deny renewal at its sole discretion
       8.1.3. Lessee's continued eligibility as a GCKI Master Member
   8.2. Unrenewed spaces become available to eligible GCKI members on a first-come, first-served basis.
9. INDEMNIFICATION
   9.1 Lessee shall indemnify, defend, and hold Lessor harmless from:
       9.1.1. All claims arising from Lessee's use of the Premises
       9.1.2. Any breach of this Agreement
       9.1.3. Any negligent act or omission by Lessee
       9.1.4. All associated costs, including reasonable attorney's fees
   9.2. This indemnification excludes claims arising from Lessor's gross negligence or willful misconduct.
10. DISPUTE RESOLUTION
    10.1. Mandatory Arbitration: Any dispute arising from this Agreement shall be resolved through binding arbitration under the rules of the American Arbitration Association.
        10.1.1. Arbitrator Selection: If parties cannot agree on an arbitrator:
            10.1.1.1. Each party shall select one arbitrator
            10.1.1.2. The selected arbitrators shall jointly choose a third arbitrator
            10.1.1.3. The third arbitrator shall conduct the arbitration
11. MISCELLANEOUS
    11.1. Governing Law: This Agreement shall be governed by Texas law.
    11.2. Waiver: No waiver of any breach shall constitute a waiver of any subsequent breach.
    11.3. Severability: If any provision is held invalid, the remaining provisions shall remain in effect.
    11.4. Entire Agreement: This Agreement contains the entire understanding between the parties and supersedes all prior agreements.
    11.5. Counterparts: This Agreement may be executed in counterparts, including electronic signatures, each of which shall be deemed an original.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

LESSOR: Gulf Coast Karters, Inc.

By: GCKI President -----------Authorized Representative

LESSEE:

Print Name

Signature

Phone Number

Date

[Note: Online registration constitutes acceptance of these terms]