It is further agreed that Charterer shall not require said vessel to be in
operation for more than an average of twenty,.20), daysper month computed each
quarter during the term of the charter.
By way of explanation, it is the
intention that the crew of the’ vessel shall not be required to operate sald
vessel more than twenty (20) days per month; however, it is understood that on
some occasions, trips of a long tite will be required and thus, the total
number of days will be averaged out over each quarter.
ARTICLE VIII
DISABILITY OF VESSEL
In the event that the vessel shall be disabled, damaged, or delayed by brez!Jown
of machinery, fire, grounding, collision, or other cause not attributable to
the negligence of Charterer or its employees, then, in that event, the proset
daily charter rate computed on a monthly basis shall be immediately suspendce
until such time as the vessel again becomes available for Charterer's use.
Further, in the event that the vesscl is lost or damaged, or otherwise diswsled,
and the disability is such that the vessel cannot be repaired within farty- “iv>
(45) days following such disability, Charterer at its election may texmien the charter forthwith.
ARTICLE IX
MAINTENANCE
Ovmer shall, at its cwn expense, maintain the vessel excluding spectal equity
placed aboard by Charterer during the term of the charter.
.
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ARTICLE X
COSTS OF SURVEYS
The necessary survey prior to commencement of the charter shall be paid for by
Owner and the survey conducted upon the return of the vessel shall be paid by
Charterer, not to exceed $500.00 per survey.
ARTICLE XI
INSURANCE
Owner shall procure hull and protection indemnity insurance.
The amount of
the hull insurance shall be designated by the Owner and the protection indemnity
insurance shall have limits of $1,000,000.00.
Owner shall, in addition to the

above insurance, procure an umbrella policy for the Owner's and vessel's
protection in the amount of $1,000,009.0v.

Charterer shall be solely responsible for any damage to Charterer's equipment
provided the same is not caused by reason of the negligence of Owner or Owner's
agents or employces.

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