Marina Manager, Ian Meggy

marina@rcyc.co.za   /   0214211354   /   mobile 0832529084

SALE OF MOORINGS Introduction In order for the Club to better manage the sale of moorings and in so doing, manage the pricing index of the various class of moorings, the GENCOM unanimously agreed that all future mooring transactions will be administered as prescribed within the Mooring Rights Agreement (MRA) as amended from time to time. The aim of conforming to the requirements of the Agreement is to allow the Club to guard against the current trend in trading marinas at prohibitively high prices which will likely inhibit entry level boat owners from acquiring Mooring Rights within the RCYC marina and to ensure an appropriate policy which guarantees fair and reasonable mooring deals, for both RCYC and mooring owners. As such, the Club intends to administer/negotiate all future mooring transactions against a determined value (as proposed within the Special meeting of Boat Owners held 18 August 2008). The determined value1 for the 2009/10 year is currently set at A Class Mooring - R28 200 B Class Mooring - R43 200 C Class Mooring - R54 000 D Class Mooring - R62 700 E Class Mooring - R73 500 Process Selling both Vessel and Mooring Right (clause 6): Should a member wish to dispose of his/her yacht and wish to include the mooring right in such disposal he/she may do so, provided that - he/she notifies the CLUB thereof in writing; the person who acquires his YACHT is a MEMBER of the CLUB or becomes a MEMBER of the CLUB within four (4) months of such acquisition or within such brief extended period as the CLUB may in its reasonable discretion decide; the person who acquires his YACHT agrees to be bound by all the terms and conditions of this agreement. Where a boat owner sells his vessel together with the mooring to another member who wishes to purchase the same mooring, the owner will be obliged to sell such mooring to the new owner at the determined value. Selling the Mooring Right (clause 8 - Termination of Mooring Rights) Should a member wish to terminate his/her mooring right without the vessel, he/she is obliged to ensure: that all debt accrued against the mooring is settled before, Notifying the Club of intent to terminate the mooring right. As such, the Club shall be entitled to exercise the Rights of First Refusal and chose not to purchase the MRA or will alternatively purchase the mooring right against payment to the owner of The Club may, should it decide, sell the mooring on to the nominated third party at this DETERMINED VALUE, provided that he/she is an ordinary member of the Club or is in the process of applying for ordinary membership. Should there be no identified purchaser, the Club may offer such mooring to members of the Club reflected on the Moorings Waiting List Register. Members wishing to purchase a mooring should submit their details to the Club for inclusion into the Moorings Waiting Register. The Moorings Secretary, diane@rcyc.co.za, will then contact each listed member should a mooring become available for resale. 1This determined value will be reviewed annually with reference to CPI increases and will subsequently be published within the RCYC Yearbook.

Mooring Plan, April 2009