I understand that:

1.	co-investor members are subject to “house rules” of general application to all members, and will be required to sign a boarding agreement and a release of liability;
2.	co-investor members are liable to pay all membership and other fees applicable to ordinary members (at reduced levels fixed from time to time by NESC);
3.	membership and other fees will be fixed at levels to generate sufficient profits to repay loans and to build up reserves to fund contingencies; thereafter, any profits will be applied to reduce fees payable by co-investors; and
4.	transfer of co-ownership memberships are subject to approval by the directors of NESC and a right-of-first refusal at prices declining by Baht 200,000 per year.

We agree that a primary purpose of NESC is to provide instruction and other educational programmes for students of ISB and adults in the community at reasonable charges, and that at least 14 stalls in the MD Barn will be reserved for club horses and ponies.

This application is subject to the approval of the Board of Directors of NESC and agreement on terms of payment.

Please complete this form and fax to (02) 962-2737.

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