The Peninsula Yacht Club Application For Designee Use Privileges

The undersigned designee of an entity-owned membership hereby applies for use privileges at The Peninsula Yacht Club. If accepted, the undersigned designee requests that his/her name be placed on the roster as follows.

Mailing Address

Local Address

Dates Most Often at this Address

Secondary Address

Dates Most Often at this Address

If different from above:

Business Address

Business Address

1. Application For Designee Use Privileges. The undersigned designee has been named as a

of a

Membership that is owned by the entity set forth above and hereby applies for designee use privileges at The Peninsula Yacht Club.

2. Use Privileges At The Peninsula Yacht Club; No Ownership Interest In The Club Or The Club Facilities. The undersigned designee hereby acknowledges and understands that PYC Holdings, LLC, a North Carolina limited liability company, doing business as The Peninsula Yacht Club (the “Club”) currently owns and/or leases and operates the facilities provided at The Peninsula Yacht Club. The undersigned designee further acknowledges that use privileges as a designee at The Peninsula Yacht Club is non-equity, non-proprietary and non-participatory. Use privileges as a designee does not imply any right or privilege to participate in or to administer business policies of the operation or maintenance of the facilities provided at The Peninsula Yacht Club and is not an investment in the Club or the facilities provided at The Peninsula Yacht Club and does not create any equity, ownership or proprietary interest or any prescriptive easement or other property interest of any nature in the Club, the facilities provided at The Peninsula Yacht Club or any other asset of the Club. Use privileges as a designee at The Peninsula Yacht Club allows the undersigned designee to use certain facilities provided at The Peninsula Yacht Club, but does not grant to the undersigned designee a vested or prescriptive right or easement to use such facilities. The undersigned designee does not have any interest in the income of the Club and does not have the right to receive any of the Club's assets if the Club is dissolved. If approved, the undersigned designee only obtains a non-exclusive revocable license to use certain facilities in accordance with the use privileges of the membership owned by the entity set forth above and in accordance with the terms of the Membership Plan, as it may be amended from time to time.The undersigned designee understands that his/her opportunity to use certain facilities provided at The Peninsula Yacht Club and enjoy use privileges at The Peninsula Yacht Club is derived solely through the membership owned by the entity set forth above and that the undersigned designee has no independent rights or privileges to use the facilities provided at The Peninsula Yacht Club or to enjoy any of the privileges at the Club, other than as the designee of such membership. Upon suspension or expulsion of the actual member or other termination of the membership held by the entity set forth above or the change of the designee by the entity, all of the privileges of the undersigned to use the facilities and to enjoy use privileges at The Peninsula Yacht Club associated with such entity-owned membership shall cease and terminate.

3. Payment Of Club User Account. All dues, slip fees (if applicable), fees, dining minimums, food, beverage, merchandise, services and other charges of the Club charged to the designee's account will be billed monthly and shall be due upon receipt and shall be deemed delinquent if not paid by the last day of the month in which the statement was sent. The undersigned acknowledges and agrees that he/she shall pay all dues, slip fees (if applicable), fees and other charges incurred by the undersigned and his/her immediate family members and guests in a timely manner. Past due bills will accrue a late fee each month in an amount equal to a minimum late fee established by the Club from time to time and/or interest at a rate established by the Club not to exceed the maximum, non-usurious rate permitted by law from the date of the statement until paid in full. The undersigned further agrees to pay all reasonable attorneys' fees, investigation fees and other costs incurred in connection with the collection of delinquent accounts. The use card(s) shall remain the property of the Club at all times and shall be returned to the Club upon request.

4. Responsibility For Use Privileges. The undersigned hereby acknowledges and agrees that he/she is responsible for his/her conduct and the conduct of his/her immediate family members and guests when using the facilities and shall be directly and fully responsible to the Club for any and all property damage and/or personal injury that are caused by, and for all charges incurred by, the undersigned and his/her immediate family members and guests. The undersigned understands that the Club shall not be responsible or liable for any property damage and/or personal injury occurring at the facilities, including but not limited to, any property damage or personal injury resulting from the actions of others.


THE UNDERSIGNED ACKNOWLEDGES THAT USE OF THE CLUB FACILITIES AND THE PARTICIPATION IN ANY EVENT OR OTHER ACTIVITY HELD BY THE PENINSULA YACHT CLUB EITHER ON OR OFF THE CLUB FACILITIES IS UNDERTAKEN WITH KNOWLEDGE OF RISK OF POSSIBLE INJURY AND THAT USE OF THE CLUB FACILITIES INVOLVES CERTAIN RISKS, INCLUDING, BUT NOT LIMITED TO, ALL RISKS ASSOCIATED WITH BEING IN AND OTHERWISE IN CLOSE PROXIMITY TO WATER AND WATERCRAFT. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE UNDERSIGNED HEREBY ASSUMES ALL SUCH RISKS FOR THE UNDERSIGNED AND HIS/HER IMMEDIATE FAMILY MEMBERS AND GUESTS AND HEREBY FURTHER WAIVE AND RELEASE FOR THE UNDERSIGNED AND HIS/HER IMMEDIATE FAMILY MEMBERS AND GUESTS, ANY CLAIMS OR CAUSES OF ACTION WHICH HE, SHE OR THEY MAY HAVE AGAINST PYC HOLDINGS, LLC, PYC, LLC AND THE PENINSULA YACHT CLUB AND THEIR SUCCESSORS AND ASSIGNS OR THE DIRECTORS, OFFICERS, SHAREHOLDERS, PARTNERS, MANAGERS, MEMBERS, EMPLOYEES,AFFILIATES, REPRESENTATIVES, AGENTS, HEIRS AND THE FAMILY MEMBERS OF EACH OF THEM, ARISING OUT OF PERSONAL INJURIES OR PROPERTY DAMAGE WHICH HE, SHE OR THEY MAY SUSTAIN AS A RESULT OF USING THE CLUB FACILITIES OR PARTICIPATING IN ANY EVENT OR ACTIVITY HELD BY THE PENINSULA YACHT CLUB EITHER ON OR OFF THE CLUB FACILITIES, SUCH WAIVER SPECIFICALLY INCLUDES, WITHOUT LIMITATION, ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF, OR IN CONNECTION WITH, ANY ACT OR OMISSION, WHETHER DUE TO NEGLIGENCE OR OTHERWISE, OF PYC HOLDINGS, LLC, PYC, LLC AND THE PENINSULA YACHT CLUB AND THEIR SUCCESSORS AND ASSIGNS OR THE DIRECTORS, OFFICERS,SHAREHOLDERS, PARTNERS, MANAGERS, MEMBERS, EMPLOYEES, AFFILIATES, REPRESENTATIVES, AGENTS, HEIRS AND THE FAMILY MEMBERS OF EACH OF THEM.

5.Immediate Family Members. Please specify below the names of each unmarried child of the designee and spouse who are under the age of twenty-three and either living in the designee’s household or attending school on a full-time basis that will have use privileges at the Club Facilities

6. Receipt Of Membership Plan. The undersigned designee hereby acknowledges receipt of the Plan for the Offering of Memberships at The Peninsula Yacht Club and the Rules and Regulations dated February 2005 (collectively, the “Membership Plan”) which is incorporated herein by reference and agrees to abide by all of its respective terms and conditions as amended from time to time. The undersigned designee acknowledges and agrees that he/she has had the opportunity to review the Membership Plan and to seek professional advice to assist in evaluating the merits and risks of obtaining designee use privileges and that the undersigned has determined to obtain designee use privileges without reliance upon any information or representations other than as set forth in the Membership Plan.

By signing this Application for Designee Use Privileges, the undersigned designee represents that the above information is true and correct and hereby authorizes the Club and its representatives to conduct such inquiry into the undersigned’s qualifications for use privileges as they deem appropriate, including contacting credit reporting agencies and requesting a consumer credit report and authorizes the disclosure and release of information to The Peninsula Yacht Club and its representatives for investigating the undersigned's qualifications for use privileges and further authorizes those persons or entities identified herein to furnish such information to The Peninsula Yacht Club and its representatives as may be requested for such purpose. The undersigned understands that use privileges at The Peninsula Yacht Club are subject to approval, payment of the required fees and compliance with the rules and regulations established by the Club from time to time.The undersigned acknowledges and represents to the Club:(i) that he/she is acquiring designee use privileges at The Peninsula Yacht Club for the personal use, enjoyment and recreation by the undersigned designee and his/her immediate family members, (ii) that he/she is not acquiring designee use privileges at The Peninsula Yacht Club for investment purposes, and (iii) that he/she is not acquiring designee use privileges at The Peninsula Yacht Club with the expectation of any pecuniary gain, economic profit or other financial benefit. This Application for Designee Use Privileges shall be governed by and construed in accordance with the laws of the State of North Carolina without regard to principles of conflicts of laws.