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EXHIBIT 10.21
ADDENDUM TO BAREBOAT CHARTER AGREEMENT
This Addendum is executed by the parties to supplement the BAREBOAT
CHARTER AGREEMENT of even date herewith. Notwithstanding the printed provisions
of the BAREBOAT CHARTER AGREEMENT, Owner and Charterer agree as follows
(paragraph references are to numbered paragraphs in the Bareboat Charter
Agreement):
5.1 Charterer agrees to pay Owner as charter hire equal consecutive
monthly payments of ONE HUNDRED THOUSAND AND NO/100 DOLLARS
($100,000.00) per month commencing on the date hereof and continuing
on the same date of each and every month thereafter during the Term of
the Charter Party, PLUS any applicable sales and/or use taxes imposed
by applicable governmental authority. All agreed charter payments
shall be paid to Owner, or as hereinafter set forth, plus applicable
sales and/or use taxes, and shall be payable without demand and in
advance without any set off, counterclaim or deduction whatsoever;
provided, however, Charterer shall have the right to make payments in
the amount of FORTY-FIVE THOUSAND TWO HUNDRED NINETEEN AND NO/100
DOLLARS ($45,219.00) directly to Brownsville Bank (for the account of
Owner) under the existing ship mortgage encumbering the Vessel as a
first lien thereon and thereafter to pay the balance of such monthly
payment, FIFTY FOUR THOUSAND SEVEN HUNDRED EIGHTY-ONE AND NO/100
DOLLARS ($54,781.00), to Owner. In the event Charterer fails to pay
the Brownsville Bank Mortgage as and when due and Owner becomes liable
for a late payment fee or a default rate of interest charge, Charterer
shall be liable for payment of same in addition to the above described
monthly payments.
7.2 (h) Charterer acknowledges, understands and agrees that Charterer is
taking delivery "AS IS" and "WHERE IS" and Owner does not and shall
not be deemed to make any warranty or representation either express or
implied as to the Vessel, or as to the design, condition,
merchantability or seaworthiness of, or as to the quality of material
or workmanship in, or as to the fitness of the Vessel for any
particular purpose or trade.
8.3 Deleted in its entirety.
12.1 (c)(i): Owner consents to insurance payments being made directly to
Charterer as long as Owner is not personally liable for any payment to
the injured person; the amount of damages claimed by such injured
person have been liquidated as to amount (whether by settlement or
non-appealable judicial decree) and such agreed upon damages have been
paid in full by Charterer; and such insurance payments are merely
reimbursement for damage payments actually made by Charterer to such
injured person.
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15.1 (c); (d); (f); the applicable "cure" period in each instance shall be
FIFTEEN (15) days; provided, however, in the event such default cannot
be cured within such FIFTEEN (15) day period, the "cure" period shall
be extended as long as Charterer has commenced and is diligently
proceeding to correct any such default condition.
15.1 (g): the applicable "cure" period shall be THIRTY (30) days.
16.1 The Vessel shall be re-delivered to Harbortowne Marina, Dania, FL or
to such other location as Owner and Charterer shall agree.
17.3 The Vessel shall be re-delivered to Harbortowne Marina, Dania, FL or
to such other location as Owner and Charterer shall agree.
22.1 Notices to Owner shall be to: Xx. Xxxxx Xxxxxxx, Xxxxxx Farms, 0000
Xxxx Xxxxx Xxxx, Xxxxxx, XX 00000. Notices to Charterer shall be to:
Leisure Express Cruise, L.L.C., c/o Mr. Xx Xxxxxxx, 0000 Xxxxxx Xxxx,
Xxxx, XX 00000
IN WITNESS WHEREOF, the parties have caused this instrument to be duly
executed as of the day and year first above written.
CHARTERER:
Signed, Sealed and Delivered LEISURE EXPRESS CRUISE, L.L.C.,
in the Presence of: a Colorado limited liability company
By: /s/
------------------------------------------ ----------------------------------------
Print Name: XXXXX X. XXXXX,
------------------------------ Executive Vice President
------------------------------------------
Print Name:
------------------------------
(Page 2 of 3)
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OWNER:
Signed, Sealed and Delivered FLORIDA CASINO CRUISES, INC.,
in the Presence of: a Georgia corporation
By: /s/
------------------------------------------ ----------------------------------------
Print Name: XXXXX X. XXXXX,
------------------------------ Executive Vice President
------------------------------------------
Print Name:
------------------------------
(Page 3 of 3)
