I understand and agree that as a member of Lake Shore Yacht & Country Club, I assume responsibility for the payment of initiation fees, full fiscal years dues, assessments, pool, harbor, clubhouse and pro shop charges, and food and beverage minimums and any other fees/charges as outlined in the Club Rules and Regulations and By-Laws. That my membership will continue on a yearly basis thereafter unless I notify the Board of Directors in writing thirty days prior to the start of any given membership year.
Lake Shore Yacht & Country Club is a member-owned equity club. Achievement of ownership and equity status requires approval by the Board of Directors plus payment of the Initiation Fee. After vesting, Lake Shore’s Equity Program allows a member in good standing to be refunded their initiation fee at the time of their resignation.
I further understand and agree that I am subject to the Rules and Regulations and By-Laws established by the membership and Board of Directors and that I accept all provisions, thereof, as part of the terms and conditions of this membership contract.
Lake Shore Yacht & Country Club may, at its sole discretion, allow for early termination of this membership agreement only for cases deemed by the Board of Directors as being due to relocation for employment or for serious medical conditions. I understand that any overdue balances on my account are subject to interest at the rate of 2% per month, 24% per annum and the collection of reasonable attorney’s fees and costs and disbursements associated with collection.
Per By-Laws, member account charges are due and payable by the end of the following month. I agree to provide Lake Shore Yacht& Country Club with a valid credit card number and authorize Lake Shore Yacht & Country Club to charge this card for all dues, fees, installments and charges that are 15 or more days in arrears . Members whose accounts are in arrears may be posted and denied all club privileges until charges are
I further understand that, as a Member, a default by me in the payment of any monetary obligation or termination of my membership, shall result in acceleration of balances due including my initiation fee if the payment plan was chosen, as well as any other charges outstanding on my account, as determined by the Board of Directors in their sole and absolute discretion.
