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Texas Arabian Breeders' Association Reservation Races

RULES AND REGULATIONS

Eligibility of Reservers or Nominators - A reserver or nominator, which terms are used interchangeably herein, is defined to be any eligible entity that purchases a reservation in accordance with the Reservation and Pay Schedule made a part hereof, for a berth in the Texas Arabian Breeders Association (TABA) 1998 Reservation Races.

Eligibility of Horses - Reservations may be purchased in accordance with Reservation and Pay Schedule and, upon the date set forth therein the nominator shall designate the horse for which such reservation was made. A horse is eligible for designation if it is of foal year 1994 and is registered with the Arabian Horse Registry of America, Inc. Horses registered in partnership or to any business entity shall be designated by the authorized partner, principal officer, the owner of the business entity or authorized agent. A reservation requires an initial reservation fee of $50.00 each which shall accompany the reservation certificate not later than July 1, 1997 and is sustained by payment in accordance with the Reservation and Pay Schedule. All horses must meet the qualification standards as set by the Texas Racing Commission and the racing association at whose track this race is to be run. There will be no refunds of nomination, sustaining or entry fees for horses which fail to meet any of the above listed requirements.

Cancellation / Track Change - TABA reserves the right to cancel or postpone any race at any time prior to the actual running thereof for any reason which it deems good and sufficient. If such race is canceled, TABA shall be liable only for the return of any nomination, sustaining or entry fees received. TABA also reserves the right to, at its discretion, transfer the trials and/or finals to any race track situated in the State of Texas. Distance may change subject to other track configurations and requirements, but distance will not exceed one and one-eight mile.

Stalls - A reservation or nomination to this race does not guarantee a stall for such horse. Stalls are allotted by the racing association at whose track these races are to be run. In the event that stall space at or near the track is unavailable for one day prior to the race and for one day after the race, TABA is obligated only for the return of the reservation, nomination and entry fees which have been paid, and only in the event that such horse is otherwise eligible and has fulfilled all requirements for the race as stated herein.

Pay Schedule - It is the sole responsibility of the current owner of each reservation, or, as the case may be, eligible entry, to make the timely payments of the fees required by the Reservation and Pay Schedule to maintain eligibility. TABA is not responsible for providing and notices of deadlines or of eligibility to any nominator or owner. Any notice provided by TABA is only for the convenience of the nominator or owner. Reservations and sustaining fees will be accepted after the payment deadlines only through the United States mail postmarked (by the US Post Office) no later than midnight of the payment deadline. In case of dispute, the only satisfactory evidence of payment shall be a certified mail receipt or a registered mail receipt bearing a United States Post Office postmark on or before the due date. All checks returned by the bank will constitute no payment. Payment Schedule is as follows: Prior to July 1st = $50: August 15th = $50: September 15 = $50: October 15=$100: December 1=$200: January 15=$250: Entry or Trial Entry=$300.

Late Payments: Late payments for reservations are as follows: prior to August 15th = all past due payments plus $100: prior to September 15th = all past due payments plus $200: prior to October 15th = all past due payments plus $500: prior to December 1st = all past due payments plus $1,000 : prior to January 15th = all past due payments plus $5,000.

Change of Ownership - In the event of a change of ownership of the reservation, prior to designation of the horse, or in the event of a change of ownership of a horse which is an eligible entry subsequent to designation of such horse, the owner then listed with TABA or the new owner shall immediately notify TABA of the change of ownership. The transfer of ownership of a reservation or of a nominated horse shall in no way impair the original reserver or nominator of a claim to nominator's awards, if any.

Elimination Trials - If more than twelve (12) horses are eligible to run in this race, trial races will be held at the track immediately two weeks prior to the running of the race. Each trail shall consist of a number not to exceed twelve (12). The trials shall be raced under the same conditions as the race finals. Twelve (12) horses shall be selected from the trials to participate in the finals; there will be no also eligible list. All horses shall be selected by their finishing position in their trial. If there are two trials, the top five (5) finishers in each trial are selected. If there are three trials, the top three (3) finishers in each trial and the 3 fourth place finishers are selected by lot. If there are four trials, the top two (2) finishers in each trial and the two (2) fastest third place finishers are selected. However, should variables exist which would prevent this from being feasible in the sole determination of TABA, the racing stewards at the track at which this race is to be run may then select the finalists. If for any reason a tie exists, the horses involved shall draw lots to determine which shall participate in the finals. In cases of disqualification, the horse/s disqualified shall be given the time plus one-fifth of a second of the horse which he/she is placed behind. The decision of the stewards in all matter shall be final and entries are accepted only on the condition that those persons reserving, nominating and/or starting a horse in this race agree to abide by their decision.

Reserver's Awards - First 5%; Second 3%; Third 2%, to be paid from the reservation, nomination and entry fees.

Purses - The purse for the trials, if any, will be determined by the racing association sanctioned by the track at the time of the running of the trial. Trial purses will not be deducted from the nominations, sustaining or entry fees. Trial purses shall be distributed in the same manner as the regular races carded by the track. The purses for the finals is estimated to be $30,000.00, which includes all nomination and sustaining expenses and entry fees, expect as set forth herein. After payment of administration expenses and Reserver's Awards, the purse will be declared and distributed as follows: 60% to the winner, 20% to second, 10% to third, 5% to fourth, 3% to fifth and 2% to sixth placed horses. If more than one entry which has passed through the entry box be declared by the racing officials after scratch time, the unearned purse money shall be pooled and distributed equally as a special equity award in lieu of any other award, return of fees, or any other claim, except where the entry is declared by the racing officials for violation of the laws or the racing rules of the State of Texas. In that event the purse money which would have paid to the declared entry except for said violation shall go to the winner.

Administrative Expenses - TABA shall deduct and retain as compensation, three (3%) of all reservation and/or nomination fees and sustaining fees for this race for the cost of administering this race/s.

Reserved Slots - TABA reserves the right to withhold two reservations, one (1) for each race to be offered at auction on or before December 13, 1997 as a completely paid reservation to date. Fifty (50%) percent of the proceeds of the auction will go to the TABA general fund and the other fifty (50%) percent will be added to the purse of the appropriate race. The minimum reserved sale price for the Reserved Slots is $1,500.00 each and the successful bidder and/or resulting owner of the Reserved Slots must name the horse for that slot by 7PM, December 13, 1996. Failure to achieve the reserved sale price will result in a No Sale.

Note: also see Requirements of the Texas Racing Commission - TRC

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