Common use of ABANDONED VESSELS DEFINED Clause in Contracts

ABANDONED VESSELS DEFINED. The owner agrees that his vessel stored at the Marina past June 1st following the commencement date of the term of this agreement without signing of a new agreement shall be considered an abandoned Vessel pursuant to the Abandoned Boat Act of New Jersey and under the general maritime law of the United States, and the Marina, upon written notice to the owner (to the address on the last contract) to remove said vessel, may dispose of said vessel pursuant to the general maritime law of the United States.