No Guarantee Contract
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Questroyal Stud, LLC
2014 Stallion Contract
No Guarantee of Live Foal Basis

AGREEMENT, dated as of _______________, 2013 between Questroyal Stud, LLC (the “SELLER”), 58 Dunn Road, Stillwater, NY 12170 and Name of Purchaser (the “BUYER”), _______________________________________________________________             Mare Owner's Address.___________________________________________________________________________________

1. Seller hereby sells to Buyer a 2014 breeding in the stallion COURAGEOUS CAT for the mare ________________________ (Name of Mare), Buyer agrees to pay the seller a fee of $3,000.00 (Three Thousand U.S. Dollars), due upon signing the service contract, on a non-refundable no guarantee basis except as described herein. Risk of loss shall pass to the Purchaser upon execution of this Stallion Service Contract. Only upon payment in full shall Seller be required to send Purchaser a Stallion Service Certificate.
2. The Sale and purchase are being made on a no guarantee basis. Upon execution hereof by both Seller and Buyer, all risks of loss shall pass to Buyer, the Stud Fee shall not be subject to a refund nor shall there be any return privilege for any future breeding season for any reason whatsoever, included without limitation, the death of the Stallion, or the failure of the Mare to be covered by the Stallion, except as provided herein.
Purchaser acknowledges that this agreement is subject to any syndication agreement or other Co-ownership agreement for the Stallion and the manager of the Stallion (including the Seller in such capacity) has reserved the right to refuse to permit the Stallion to be bred and to reduce the book of the Stallion if the manager so determines for the safety or well being of the Stallion. Neither party shall be liable or responsible to the other for any disease, accident or injury to the Mare or Stallion. SELLER MAKES NO REPRESENTATIONS OR WARRANTIES AND NO IMPLIED WARRANTY AS TO THE MERCHANTABILITY OR AS TO THE FITNESS OF THE STALLION OR HIS SEMEN FOR ANY PURPOSES SHALL ARISE BY VIRTUE OF THE TRANSACTION. RISK OF LOSS PASSES TO THE PURCHASER UPON BOTH SELLER AND PURCHASER SIGNING THE CONTRACT.
The Mare Owner shall purchase and pay for a season to Courageous Cat for $3,000 on a No Guarantee of Live Foal basis. The Payment shall be made payable to Questroyal Stud, LLC and is due upon completion of the Agreement.
In the event that the mare fails to get in foal, or deliver a live foal, the Mare Owner shall; be allowed to breed another mare in 2014, as long as Courageous Cat is alive and standing at stud in New York State.
In the event that the Mare Owner wishes to breed two or more mares to Courageous Cat and pay a stud fee on a No Guarantee of live foal basis:
The Mare Owner shall pay for one such No Guarantee of live foal season of $3,000, and the first mare that gives birth shall be considered the No Guarantee season. In the event that two or more mares give birth to a live foal, then the Mare Owner shall be charged a stud fee of $3,000 for each additional foal born.
In the event that all mares breed by the mare owner fail to get in foal, or deliver a live foal, the Mare Owner shall be allowed to breed another mare or two or more mares in 2015, as long as Courageous Cat is alive and standing at stud in New York State. In the event that both or all mares give birth to a live foal as a result of the 2015 matings, then the Mare Owner shall be charged a stud fee of $3,000 for the second foal born.
Domestic Mares are required to follow all State and Federal Requirements in the event they should follow an Imported Mare; the owner of a Domestic Mare shall be responsible for any processing fees thereof.
3.    The Buyer agrees that the Mare to be named by him will be a Thoroughbred, in good general health and sound for breeding purposes. Upon request, the Buyer shall provide Seller with a veterinary certificate to such effect. The Buyer agrees to abide by the breeding shed regulations and understands that if the Season is used for the Stallion to cover any mare once, no substitute mare may thereafter be named.
4.    This contract shall not be binding unless signed by Purchaser and returned to Seller within fourteen (14) days of date, together with payment in full.
5.    Under state law, where applicable, Buyer is liable for any sales tax, payable at settlement date. 
6.    This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and may be executed in counterparts, each of which shall be original and all of which together shall constitute one and the same instrument. Neither Purchaser nor Seller is relying on any verbal agreement.
7.    This agreement shall be governed by and construed under the prevailing laws of the State of New York.  Venue for any action brought hereunder shall be in Saratoga County, New York.
       WITNESS WHEREOF of the Seller and Purchaser have executed this Agreement or caused it to be executed on their behalf as of the day and year first written above.
PURCHASER:                                                SELLER:
_______________________________         _______________________________  
Signature: Name of Purchaser                       Signature: Questroyal Stud, LLC
_______________________________          _______________________________
Date                                                                Date