1.         GENERAL. Terms contained herein which are defined in the Membership Agreement shall have the same meaning as set forth in the Membership Agreement. All references in any of the Membership Documents to “Board of Director” shall mean the Board of Directors of the Company.


2.         REGISTRATION AND LIABILITY WAIVER. All Full Members and all guests must sign in and sign the liability waiver from time to time adopted by the Club. All guests must sign every time they enter the Premises. All Full Members must sign only one time per year on behalf of themselves and Family Members. Junior Members must sign one time per year. The Board reserves the right to change the contents of the liability waiver and the number of times such signatures are required from time to time in its sole and absolute discretion.


3.         DAMAGE TO CARS AND PROPERTY. Full members are liable for any damage to the Company-owned cars (hereinafter referred to as “Club Cars”), Company-owned go-karts, other Company property or the property of any other person which damage is caused by any Full Member, Family Member and/or each of their guests. Liability of Full Members and Family Members for the aforementioned damage shall be joint and several. Junior Members are liable for any damage caused by them or their guests. There is no “fault” to be found in auto racing. Auto racing is a dangerous sport. The individual sitting in the driver’s seat is solely responsible for damage to the car. If that individual is a guest, the guest’s sponsoring Full Member, Family Member or Junior Member is liable for the damage. The Company shall maintain the price list of parts and labor, which shall be available either upon request or within a reasonable time period thereafter.


4.         GO-KARTS AND TRACK. Full Members, Family Members and Junior Members and each of their guests may use the Go-Karts. Go-Karts may be used only on the Go-Kart track and only Company owned Go-Karts shall be used. Nobody under the age of sixteen (16) years shall use any Go-Kart unless actively supervised by an adult over Twenty-One (21) years of age. Such supervising adult shall be physically present at the immediate location of the Go-Kart track at all times while such individual under the age of Sixteen (16) years is using any Go-Kart. Anyone using the Go-Karts, regardless of age, must wear a helmet at all times. Additional rules may be promulgated from time to time by the Board of Directors governing the use of the Go-Kart track at the discretion of the Board.




A.                 Full Members, Junior Members, Family Members and each of their guests who are over Sixteen (16) years of age and who possess a current valid driver’s license issued by the state in which they reside may use the Club Cars or other permitted motor-driven vehicles on the racetrack. A “motor-driven vehicle” as used in these Rules and Regulations includes, but is not limited to, motorcycles and automobiles. If there are no special events or scheduled activities or a race taking place on the racetrack, then anybody permitted to operate a motor-driven vehicle on the racetrack pursuant to these Rules and Regulations may do so with no charge for racetrack use, provided that such use does not exceed twenty (20) consecutive minutes. Applicable rates shall be charged when Club Cars are used. So-called “open” days may not be reserved for exclusive use. The foregoing time limitation shall only apply if there is more than one person waiting to use the racetrack. In no event shall any motor-driven vehicles which are not of the same type be operated simultaneously on the racetrack at any time. For example, no motorcycle shall be operated on the racetrack at the same time as a racing automobile and no racing automobile shall be operated on the racetrack at the same time as a non-racing type automobile. No person under the age of Sixteen (16) shall be permitted on the Club property unless accompanied by an adult Twenty-One (21) years of age or older. No guest shall be permitted on Club property unless accompanied by a Member. There shall be no wheel to wheel racing unless it is done in spec racers.


B.                 No person shall operate any type of motor-driven vehicle anywhere on the Premises unless such person is over the age of Sixteen (16) and has a valid driver’s license issued by the state in which he or she resides, which license was issued for the type of motor-driven vehicle he or she intends to operate. No person under age Sixteen (16) shall ride as a passenger in any spec racer.


C.                 Any person not operating a motor-driven vehicle on the racetrack shall not be permitted in the pit area unless he or she is traveling either to or from the motor-driven vehicle. The tent area is not intended to be included as part of the pit area for purposes of the restriction set forth in the preceding sentence.


D.                 No foot or other pedestrian traffic is permitted on the racetrack when motor-driven vehicles are being operated on the racetrack.


E.                  Operation of any motor-driven vehicle on the Premises including, but not limited to, the racetrack shall be performed at all times in a safe manner. Any person operating a motor-driven vehicle on the racetrack must wear an approved racing helmet at all such times.


F.                  No person may operate any motor-driven vehicle on the racetrack without obtaining prior approval from the Club manager at the Premises. All persons on the Premises must adhere to the decisions and/or directions of the Club manager.


G.                 Although motorcycles may be operated on the racetrack, no motorcycle racing is permitted. Otherwise, the same rules which apply to motor-driven vehicles on the Premises including, but not limited to, the racetrack also apply to motorcycles.


H.                 Scheduled events for Members shall be published in the newsletter. Approved cars only may be on the racetrack during these events. Applicable rates for Club Car use shall be charged. There shall be no charge for racetrack use for scheduled Member events. Reservations must be made in advance to participate in these events.


I.                    Special events may be scheduled throughout the season.


J.                   Non Members may only drive spec racers on the track. Non Members may not drive their own street vehicle on the track. A Member may drive a Non Member’s street vehicle on the tract and the Non Member may ride as a passenger.


Rules shall be promulgated from time to time by the Board of Directors governing the use of the track and pit area; however, in no event shall any such rules contravene or otherwise diminish the terms and conditions of the permit issued by Pitkin County, Colorado under which the track is operated, including, but not limited to, the operations plan established under such permit.


6.         INSURANCE. Full Members, Family Members and Junior Members and each of their guests shall perform no act nor conduct any activity which shall in any way affect or jeopardize the liability insurance for the Company and/or Owner.


7.         CLUB HOURS. The Club is available for use only at specified times. The Board will make reasonable efforts to make the Club available for use at the times and on the dates set forth in the permit and operations plan issued by Pitkin County, Colorado. In no event shall the track be available for use at times or dates which are in excess of that set forth in the County permit, which permit is subject to change by the County. Schedules for non-Member special events may vary and will be posted. During any such events, use of the track and its facilities by Members, Junior Members and Family Members and each of their guests will be prohibited.


            8.         PARKING AND TRAILERS. All vehicles on the Premises must be parked in a designated parking area. Prior to storing or otherwise leaving a trailer on the Premises, all Members must request and obtain permission from the Board of Directors, which permission the Board may grant or deny in its sole and absolute discretion. Any such permission granted by the Board is revocable at any time by the Board without cause or prior notice. No trailer may be stored anywhere on the Premises except in the location specifically designated by the Board. Any trailer left on the Premises without the Board’s prior permission is subject to removal in the Board’s discretion at the sole cost and expense of the trailer owner. All Members, for themselves, their heirs, executors and assigns, and for any and all guests of Members hereby release, indemnify and hold the Company and/or Owner, their officers, directors, shareholders, partners, manager, Members and agents harmless from and against all claims for damage to or loss of property in or about the Premises arising out of or any way connected with the storage and/or removal of any trailer from the Premises.


            9.         PERSONAL PROPERTY AND LIABILITY OF CLUB. Neither the Company nor Owner shall be liable for the loss, theft or damage of any articles of personal property brought onto Premises. “Company and Owner,” as described in this paragraph, are deemed to include their shareholders, officers, directors, Members, managers or agents.

            10.        PETS, SMOKING AND CHILDREN.

A.                 Pets. Pets are prohibited on the Premises.


B.                 Smoking. Smoking is prohibited in any garage area, pit area or around racecars.


C.                 Children. Children under Sixteen (16) years of age must have adult (over Twenty-one (21) years old) supervision at all times.


11.        NEWSLETTER. Members may receive periodic newsletters or reminders updating them on Company policy, activities and rules and regulations. These mailings shall include information on track availability and special events as well as rule changes.


            12.        SAFETY RULES. All Members and each of their guests must follow all Company rules concerning the use of motor-driven vehicles and the racetrack including, but not limited to, these Rules and Regulations.  Drivers must be familiar with the features of all cars before being permitted to drive them on the racetrack. If there are any questions regarding the use and safety of vehicle operation, drivers shall ask the Club manager for assistance. On-track drivers are responsible for evaluating the performance of each vehicle they intend to operate and staying within its limits. Failure to perform such evaluation may result in flat tires, equipment failure or more serious damage to the vehicle as well as the driver or bystanders. Sounds and vibrations are often clues to impending malfunctions while the car is on the racetrack. Drivers must be alert. When in doubt, drivers shall pull into the pit and have a mechanic inspect the car.

            13.        CARS.

A.                 Safety Features. All racecars must be equipped with certain safety features. All racecars must be purpose-built racecars with roll bars, on-board fire extinguishers, electric kill switches and five-point harnesses.


B.                 Noise. All racecars must be modified with mufflers/resonators to make them as quiet as possible. Cars that exceed the sound levels will not be permitted to continue using the track.


C.                 Members’ Cars. Members who bring their own racecars to the track are responsible for making sure their cars are safe. Members may not use Club mechanics to work on their street vehicles.




A.                 General. All motor-driven vehicles on the racetrack must be driven in a clockwise direction. During any event except actual races, any car leaving the racetrack is required to pit for a mechanic’s inspection. If a driver is forced to stop on the racetrack, the car must be brought to rest off the racetrack in as safe a place as possible.


B.                 Hand Signals. Before slowing to enter the pits, the driver will raise one arm. An overtaken driver will point to the side on which an overtaking driver should pass. The driver of a car stalled on the course will raise both arms.


C.                 Flags and Lights. The Club utilizes both traffic lights and traffic flags.


·         Green Flag/Green Light: Indicates a race has started the instant the flag or light is shown. Normally only displayed at the start/finish line. When displayed, indicates the course is clear.


·         Yellow Flag/Yellow Light: Standing: Indicates take care, slow down, no passing until past emergency area; Waving or light is blinking: Danger! Be prepared to stop; no passing until past the emergency area.


·         Red Flag/Red Light: Stop racing immediately! Come to a controlled stop on the edge of the racetrack or proceed to the pits in a slow and safe manner if you are able to do so.


·         Blue Flag with Yellow Diagonal: Indicates a faster car is approaching; driver should check mirrors and be aware.


·         Yellow Flag with Red Stripes (Surface Condition Flag): Indicates oil or debris on racetrack.


·         White Flag: Indicates tow truck, ambulance, or other slow-moving vehicle or race car with mechanical problem to be encountered on racetrack.


·         Black Flag, Closed (Furled): Indicates driver is operating vehicle in an unsafe manner.


·         Black Fag, Open (Standing): Indicates driver should complete the lamp and enter the pits for consultation. Displayed with work “ALL,” all cars must slow and proceed to pits.


·         Mechanical Black Flag (black with orange ball): Indicates a vehicle malfunction; driver must proceed to pit.


·         Checkered Flag: Signals the end of a race, practice or qualifying session. Slow down and continue to pit.


15.        CONDUCT. All Members and their guests shall conduct themselves at all times, on the Premises or elsewhere, in a polite, courteous, respectful and professional manner. The Member sponsoring any guests shall be responsible for his or her guests. Any violation of this paragraph by any guest shall be deemed a direct violation by the Member sponsoring such guest. Any guest whom the Board of Directors deems, in its sole discretion, to be in violation of this paragraph shall be required to leave the Premises immediately and shall not be permitted to return in any capacity without the prior written approval of the Board of Directors.


16.        NONCOMPLIANCE/DEFAULT. In the event the Board of Directors determines, in its reasonable discretion, that any Member is in default under any of the Membership Documents, then such Member’s membership shall be subject to suspension and/or termination in the Board’s reasonable discretion. Any default by any Family Member shall be deemed a default by the Full Member. In the event the Board determines to suspend and/or terminate a Member, such Member’s membership shall be subject to sale as provided under the Membership Agreement in the reasonable discretion of the Board of Directors. A Member will be deemed to be in default if such Member is in violation of or otherwise not in compliance with any of the terms, conditions or obligations contained in any of the Membership Documents as determined in the reasonable discretion of the Board of Directors. A default under any one or more of the Membership Documents shall constitute a default under all the Membership Documents.


17.        AMENDMENT. These Rules and Regulations may be amended by the Board of Directors pursuant to the Membership Agreement.


18.        GOVERNING LAWS. The Membership Documents and use of the Club shall be governed by and construed in accordance with the laws of the State of Colorado without regard to principals of conflicts of laws. Any suit involving any dispute or matter arising under or by virtue of the Club, these Rules and Regulations or any of the other Membership Documents or any other documents made or given in connection therewith may only be brought in the respective courts of Pitkin County, Colorado having jurisdiction over the subject matter of the dispute or matter. All Members, including, but not limited to guests of each, hereby consent to the exercise of personal jurisdiction by any such court with respect to any such proceeding. The prevailing party in any such dispute or matter shall be awarded its reasonable costs, including, but not limited to, reasonable attorneys’ fees.


            19.        CONFLICT. In the event of any conflict between these Restated Rules and Regulations and the prior Rules and Regulations, these Restated Rules and Regulations shall control.


            20.        PART OF OPERATING AGREEMENT. These Restated Rules and Regulations are attached to and made a part of the Operating Agreement for the Aspen Racing and Sports Car Club, LLC, including any and all amendments thereto.