10 - Southern Drag Boat Association Agreement

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DRAG BOAT RACE EVENT AGREEMENT THIS AGREEMENT (the "Agreement") is made effective as of the 10th day of May, 2021, (the "Effective Date"), by and between the following Parties: SOUTHERN DRAG BOAT ASSOCIATION LLC, a Texas limited liability company, whose mailing address is P.O. Box #28, Burnet, TX 78611 ("SDBA") and the City of Paris, Lamar County Chamber of Commerce and the Paris VCC, whose mailing address is 8 West Plaza, Paris, Texas 75460 ("City"); SDBA and City may each be referred to herein as a "Party" and collectively as the "Parties". The Parties hereby agree as follows: 1. Description of Services. In connection with a drag boat race (the "Event") to be conducted on the date(s) and as the location as specified in Schedule A, SDBA shall provide the services specified in Schedule A. 2. Consideration. In consideration of the Services rendered by SDBA, SDBA shall receive the following: SDBA shall be entitled to receive and retain as its sole and exclusive property, all registration fees, vendor fees, spectator gate fees, sponsorship fees and profits from the sale of SDBA T-shirts and the Event T- shirts, souvenirs and other merchandise. SDBA shall have no interest in the proceeds from sales of other T-shirts at the Event by third parties or the City. SDBA's right to sell T-shirts, etc., at the Event is non-exclusive to SDBA unless specified otherwise in Schedule A which said terms in Schedule A shall control. 3. Obligations of City. In consideration of the Services to be rendered by SDBA, City agrees to perform the obligations and supply such goods and services as specified in Schedule A. 4 Cancellation of the Race. In the event of inclement weather or bad/rough water conditions, the SDBA Director, or his designated representative, may cancel the Event no later than 24 hours prior to the start of the Event. 5. Governance of the Race. SDBA is exclusively responsible for and has the paramount authority for regulating it personnel and membership, including drivers and their crews, team owners, and the composition of race boats. 6. Rules and Regulations. SDBA agrees to conduct the Event in accordance with the SDBA 2019 Race Rules and Regulations. In the event of any conflict between the terms of this Agreement and the provisions of such Rules and Regulations, the terms of the Agreement shall control. 7. Warranties. SDBA shall provide the Services and meet its obligations under this Agreement in a timely and workmanlike manner which meets generally acceptable standards in the race boat industry and region, and shall provide a