WAIVER, RELEASE OF LIABILITY AND ASSUMPTION OF RISK AGREEMENT

BY SIGNING THIS AGREEMENT YOU ARE GIVING UP CERTAIN LEGAL RIGHTS, INCLUDING THE RIGHT TO RECOVER DAMAGES IN CASE OF INJURY, DEATH, OR PROPERTY DAMAGE, ARISING OUT OF YOU OR YOUR CHILD'S PRESENCE AND/OR PARTICIPATION IN EQUINE ACTIVITIES AT THE FACILITIES, INCLUDING INJURY, DEATH, OR PROPERTY DAMAGE ARISING OUT OF THE NEGLIGENCE OF MANCAL PROPERTIES DEVELOPMENT INC., ROB & JENNIFER FOSTER AND/OR THE CALGARY POLO CLUB.

READ THIS AGREEMENT CAREFULLY BEFORE SIGNING IT. YOUR SIGNATURE INDICATES YOUR UNDERSTANDING OF AND AGREEMENT TO ITS TERMS.

In consideration of Mancal Properties Development Inc. ("MPD") permitting the above named participant (the "Participant") to participate in equestrian activities, use the facilities, and (if applicable) to board horses, the Participant or the parent/legal guardian of the Participant if the Participant is under 18 years of age (in each case, the signatory below and referred to as "I" in this Agreement) hereby agrees as follows: DEFINITIONS: In this Agreement, the following terms have the following meanings: (a) "equestrian activities" means all activities, programs, events and services whether or not provided, sponsored, organized or hosted by MPD or the Calgary Polo Club including but not limited to horseback riding, showing animals, giving or taking lessons, riding, jumping, participating in polo matches, polo practice or related activities at the Calgary Polo Club and any transportation, boarding, maintaining and handling of animals by the Participant and any and all other forms of mounted and un-mounted equestrian activities; (b) "facilities" means all premises, facilities and equipment as owned by MPD, some of which may be leased to the Calgary Polo Club, for equestrian activities; and

(c) "horse boarding" means the boarding of participants' horses at the facilities. ASSUMPTION OF RISKS: I am aware of, and hereby freely accept and fully assume, the inherent risks, dangers and hazards associated with my participation (or, in the case of a minor child, the Participant's participation) in the equestrian activities, use of the facilities and horse boarding, including without limitation: (i) physical injury including injury to the body and head, permanent paralysis and death; (ii) exacerbation or aggravation of medical conditions; (iii) injury, loss or damage to property, including animals; (iv) injury, loss or damage caused by negligent design or manufacture or mechanical failure of any facilities; (v) injury, loss or damage caused by failure to use or operate any facilities within the Participant's own ability; (vi) injury, loss or damage caused by defective, dangerous or unsafe conditions of the facilities; and (iv) negligence on the part of MPD, and its directors, officers, volunteers, employees, representatives, landlords, agents, independent contractors, subcontractors, sponsors, tenants, other participants, Rob & Jennifer Foster and any of their successors and assigns (collectively, the "Releasees") including negligent advice regarding equestrian activities, failure by the Releasees to provide warnings, directions, instructions or guidance as to the use of the facilities, and the conduct of any other participant or person using the facilities. HELMETS AND SAFETY GEAR: I understand that it is required of the Releasee to wear an ASTM/SEI approved riding helmet and utilize other safety gear appropriate to my level of experience while on a horse. I accept full responsibility for any accident or injury to myself, family members, guests, and or others if I or they choose not to use appropriate safety gear. HORSES ARE INHERENTLY DANGEROUS: I understand that engaging in equine activities is an inherently dangerous activity, and that, by so doing, I expose myself to dangers both known and unknown. Horses are large, unpredictable animals which may be dangerous no matter how much training they have, no matter what level of experience I have, and no matter what the situation. I agree and understand that the Releasee cannot control the horses boarded there, and that I shall release and hold harmless the Releasee from any injury arising out of or related to equine activities at the Releasee's facilities.

AM RESPONSIBLE FOR MY OWN CONDUCT AND THAT OF MY HORSE: I understand that I will ride and handle my horse, and will conduct myself, at my own risk while I am on MPD's property or otherwise. DEATH OR INJURY TO HORSE: The Releasees will not be held responsible for injury or death to any horse(s) absent active gross negligence on their part.

RELEASE OF LIABILITY, WAIVER OF CLAIMS: I, for myself and on behalf of my heirs, assigns, personal representatives and next of kin, hereby fully and forever release the Releasees from any and all liability for injury, disability, death, loss or damage to myself or to any other person resulting from or related to my participation (or, in the case of a minor child, the Participant's participation) in the equestrian activities, or attendance at MPD's premises and facilities, or use of the facilities for horse boarding, due to any cause whatsoever including, but not limited to, negligence, breach of contract, breach of statutory duty or any duty of care, failure on the part of the Releaseesto safeguard or protect me (or, in the case of a minor child, the Participant) from the risks, dangers and hazards of equestrian activities referred to above, and any mistakes or errors in judgment of any kind, and I hereby waive all claims of any kind that I have or may in the future have against the Releasees.

INSURANCE: I am aware that the Releasees do not provide me with any disability, accident, liability or medical insurance or compensation, should I become injured or cause personal injury or property damage to any third party while participating in equestrian activities or using the facilities.

MINORS: If am signing as a parent, or guardian with legal responsibility for the Participant, I do hereby consent and agree to all the terms and conditions provided above on behalf of the Participant, and for the Participant, myself, and each of our respective heirs, assigns, and next of kin, and hereby agree to indemnify and save harmless the Releasees from any and all claims, actions, suits, procedures, costs, expenses, damages and liabilities whatsoever brought against the Releasees or incurred by the Releasees for any reason as a result of the Participant's participation in the equestrian activities or use of the facilities.

GOVERNING LAW: All questions with respect to this Agreement shall be governed by the laws in force in the Province of Alberta and the parties attorn to the nonexclusive jurisdiction of the courts in the Province of Alberta.

SUCCESSORS IN INTEREST: This Agreement shall inure to the benefit of and shall be binding upon the successors in interest, executors, personal representatives, estates and heirs of each of the parties hereto.

ENTIRE AGREEMENT: This Agreement contains the entire agreement of the parties and supersedes any prior written or oral agreement between them concerning the subject matter contained therein. There are no representations or agreements, oral or written, between and among the parties hereto, relating to the subject matter contained in this Agreement which are not fully expressed herein.

ACKNOWLEDGEMENT: The Participant, by his/her signature on this Agreement, acknowledges that they have read this Agreement and entered into it knowingly, intelligently, voluntarily, and expressly and intelligently understand all of its terms and conditions and agrees to be bound thereby. The Participant understands that this is a release of all of the Participant's claims and all claims that may be raised by, through, or under the Participant by others.

BINDING: This Agreement shall be effective and binding upon my heirs, next of kin, executors, administrators, assigns and representatives, in the event of my death or incapacity.

INTENDING TO BE BOUND, I HAVE READ THIS AGREEMENT. I FULLY UNDERSTAND ITS TERMS, AND THAT I HAVE GIVEN UP SUBSTANTIAL RIGHTS BY SIGNING IT, AND THAT IT IS BINDING UPON ME, MY HEIRS, EXECUTORS AND ADMINISTRATORS. | AM SIGNING IT VOLUNTARILY WITHOUT ANY INDUCEMENT

TO BE SIGNED BY PARENT/LEGAL GUARDIAN IF A PARTICIPANT IS A MINOR.

PARENT/LEGAL GUARDIAN OF PARTICIPANT: