Lease Agreement For Racing Purposes
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1
2STATE OF MICHIGAN
MICHIGAN GAMING CONTROL BOARD
OFFICE OF THE EXECUTIVE DIRECTOR
HORSE RACING SECTION
LEASE AGREEMENT FOR RACING PURPOSES
Pursuant to R 431.1070 of Part 1 General Provisions, of the General Horse Racing Rules
I,
of
(Lessor Name)
(Address)
owner of the horse
a,
foaled
(Color)
(Tattoo)
(Sex)
by
out of
(Sire)
(Dam)
and
(Other horse or horses and description)
do hereby lease, let and assign said horse(s) to
(Lessee Name)
(License No.)
of
for a term of
(Address)
beginning
, 20
and ending
, 20
under the following terms and conditions, to-wit:
1. LESSOR is to receive
of
,
,
,
, purse monies earned by the horse(s) during the term of this lease, and Lessee is to
receive
(
) percent of above purse monies and any other earnings not included herein.
Said purse monies due Lessor are to be paid immediately upon receipt of same by Lessee, delivered to
Lessor in person or mailed to above address.
2. The horse(s) (may) or (may not) be entered in claiming races, and if permitted, from $
and up; and in event of claim, the claiming price is to be paid to Lessor immediately after claim.
3. LESSEE is responsible for all expenses connected with the care, training and running of the horse(s),
including all feed, veterinarian, tack, jockey mounts and any and all other expenses connected herewith,
and shall return the horse to Lessor free and clear of all liens and/or encumbrances.
4. IT IS FURTHER UNDERSTOOD AND AGREED that this Lease Agreement for Racing Purposes may be
terminated before expiration date by mutual agreement of the Lessor and Lessee herein.
MGCB-RAL-4064 (Rev. 06-10)
3062 W. Grand Blvd., L-700, Detroit, MI 48202
Phone: (313) 456-4100
Fax: 313-456-2864
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