Form MGCB-RAL-4064 "Lease Agreement for Racing Purposes" - Michigan

What Is Form MGCB-RAL-4064?

This is a legal form that was released by the Michigan Department of Treasury - a government authority operating within Michigan. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on June 1, 2010;
  • The latest edition provided by the Michigan Department of Treasury;
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  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a printable version of Form MGCB-RAL-4064 by clicking the link below or browse more documents and templates provided by the Michigan Department of Treasury.

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Download Form MGCB-RAL-4064 "Lease Agreement for Racing Purposes" - Michigan

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STATE 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
www.michigan.gov/mgcb
STATE 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
www.michigan.gov/mgcb
5. IT IS FURTHER UNDERSTOOD AND AGREED that upon claim of the subject horse, the lease shall
terminate and all right in and to such horse shall pass to the claimant as a bona fide purchaser.
6. IT IS FURTHER UNDERSTOOD AND AGREED that the Lessee will register the horse(s) in his name as
LESSEE, and all records and accounts for racing purposes will be carried in his name, and for which
records and accounts he is solely responsible. This lease completely divests the Lessor of further control
or direction of the racing performances of such horse while under lease.
SIGNED and sealed this
day of
, 20
.
(LESSOR)
(LESSEE)
SUBSCRIBED and sworn to before me a Notary Public this
day of
, 20
.
(Notary Public)
My commission expires
MGCB-RAL-4064 (Rev. 06-10)
3062 W. Grand Blvd., L-700, Detroit, MI 48202
Phone: (313) 456-4100
Fax: 313-456-2864
www.michigan.gov/mgcb
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