Equi-Legends

2006 Breeding Contract

1. PARTIES. This agreement is made this __________ day of _____________ , 20___ by and between: Equi-Legends, whose address is 1263 Vandekarr, Owosso, MI (hereinafter EQL) and:

___________________________________________________________________________________

Name, Address, and Phone of mare owner

2.HORSE. This contract pertains to the following mare:

Name of Horse: _________________________________________________________________

Sire: ________________________________ Dam: ___________________________________

Registration No: ______________________ Date Foaled: ____________ Color: ___________

Insurance Carrier: ___________________ Contract # ______________

3.OWNERSHIP. Customer: (mark one)

( ) has full title and registration, ( ) leases the horse, or ( ) manages the mare

Full title and registration are currently held by:

Name___________________________Address ____________________________________

4.BREEDING. Customer contracts to breed this mare to GTF Hallmark (“the stallion”) during the 2005 breeding season, which terminates on August 1, 2005. The stud fee shall be 1,500.00. $500.00 is a non-refundable booking fee for this breeding which will be applied to the total stud fee and is payable upon execution of this contract. The balance shall be paid as follows:

Initial one) ___________A. Cash upon execution of this contract________ B. Balance of Breeding Contract due prior to shipment of semen

5.EQL STALLION BREEDING CREDITS. If a mare bred to GTF Hallmark fails to produce a live foal (one that survives 72 hours), as certified in writing by a licensed veterinarian within one week of such determination and provided to EQL within 30 days thereafter, EQL will provide a rebreeding the following breeding season for no additional stud fee, except as provided in paragraphs 7 and 8. The rebreeding is available only for the same mare or a substitute approved by EQL.

THIS CONTRACT IS VOID IF NOT RETURNED WITHIN THIRTY DAYS OF THE DATE IN PARAGRAPH 1.

Customer Signature _______________________EQL Representative _______________________

Date_____________________________________ Date___________________________________

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6. VACCINATION REQUIREMENT. No breeding guarantee or credit shall apply if a mare has not been vaccinated against rhinopneumonitis (virus abortion) and the mare aborts due to rhinopneumonities, in which case Customer shall pay the entire stud fee and not be entitled to any rebreeding or credit. Customer will produce proof of vaccination upon request.

7. LIMITATION OF LIABILITY AND INDEMNIFICATION. EQL AND ITS SUBSIDIARIES, AFFILIATES, AGENTS, SERVANTS AND EMPLOYEES SHALL NOT BE LIABLE FOR ANY SICKNESS, DISEASE, ESTRAY, THEFT, DEATH, OR INJURY THAT MAY BE SUFFERED BY THE HORSE WHILE IN EQL CUSTODY nor for any other loss, damages, or injury arising out of or connected with breeding, boarding, conditioning, training, swimming, breeding and transportation horses, and acknowledges that mortality and other insurance is solely Customer’s responsibility. IMPLIED AND EXPRESSED WARRANTIES, INCLUDING FITNESS, MERCHANTABILITY OR OTHERWISE AND ALL SPECIAL INCIDENTAL AND ALL CONSEQUENTIAL DAMAGES ARE HEREBY EXCLUDED TO THE FULL PERMITTED BY LAW. In no event shall Customer’s remedy exceed the amount of the fee paid. EQL shall also not be liable for any personal injury or disability which the Customer or his agents, representatives, or family may receive while on EQL premises. Customer agrees to indemnify and hold EQL harmless from any claim for damage, illness, or injury to the horse or caused by the horse, and from any claim by a buyer of the horse, and agrees to pay all expenses and attorneys’ fees incurred by EQL in defending such claims.

8. ARITIFICAL INSEMINATION. EQL is authorized, but not required, to perform any breeding by artificial insemination as permitted by AHRA rules.

10. LIEN. Customer grants EQL lien upon security interest in the horse and any foal produced by a breeding by EQL to secure all obligations and amounts due under this or any other contract with EQL or any of its affiliates. EQL may, at any time until all amounts due hereunder are fully paid, file a photocopy of this contract in the county and state in which it believes the horse or foal to be kept, or where the customer resides, and when so filed the copy shall be effective as a financing statement as well as the security agreement. At any time the Customer’s balance is unpaid for thirty (30) days or Customer is otherwise in default of this or any other contract with EQL or any of its affiliates, EQL may foreclose its security interest in the horse. (10) Ten days notice shall be deemed reasonable notice of any foreclosure sale. Time if of the essence.

11.NONASSIGNABILITY. Customer may not assign any rights or delegate any duties under this contract without the written consent of EQL.

12. ENTIRE AGREEMENT; CONSTRUCTION; JURDISDICTION; ATTORNEY’S FEES. This contract contains the entire understanding of the parties concerning its subject matter, and may be modified only in writing except as otherwise provided. Headings are for convenience only and not part of the contract. The invalidity or unenforceability of any term or provision shall affect the validity or enforceability of the remainder. The contract shall be construed and governed by the laws of Michigan. At EQL’s option, jurisdiction and venue for all disputes connected with this contract shall be proper only in Shiawassee county, Michigan.

13. ALL PARTIES ACKNOWLEDGE RECIPT OF THIS AGREEMENT.

_______________________________________ ___________________________________________

Authorized EQL Representative Mare Owner or Authorized Representative

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If a lawsuit is filed with respect to this contract, or EQL forecloses its security interest the prevailing party shall be entitled to collect all reasonable attorneys’ fees and costs.