Rental Agreement Form

TERMS AND CONDITIONS:

1. GENERAL POLICIES:

1.1       No rental effort will be undertaken by the Mountainside Timeshare Association (hereinafter “Rental Agent”) without receipt of the completed rental form and the W-9 form. 1.2       Rental Agent makes no guarantees or commitments regarding its ability to rent the unit week(s) described above and reserves the right to accept or reject any rental requests, without reason, at its sole discretion. Rental Agent makes no guarantees that any nights will be rented. 1.3       Upon tendering a completed Rental Agreement Form and W-9 form to the Rental Agent, owner relinquishes his right to occupy, space bank, and exchange their unit through RCI, for the week(s) described above. If the week is not rented, the owner will be able to make a reservation. If the week is rented the owner agrees that they shall not be able to use that week under any circumstances. 1.4       Owner authorizes deduction and payment from rental proceeds for any sums due to the association. Specific details can be found in paragraph 6 below. 1.5       Sales and Lodging Taxes: Rental Agent shall collect the appropriate sales and lodging taxes as required by law and submit payment to the appropriate taxing authorities. 1.6       Credit Card Processing Fees: Rental Agent shall bear the cost of processing credit cards for all transactions, including guest reservations, clean fees and/or any balances due to Rental Agent for housekeeping or maintenance services. 1.7       Additional Fees: Rental Agent may collect other fees such as vacation rental insurance, additional housekeeping fees, security/damage protection fees, booking fees, and any other additional fees Rental Agent deems necessary. All such additional fees shall be retained by the Rental Agent.

2. RENTAL RATES:

Rental Agent has full authority to determine rental policies, set rental rates, apply discounts or refunds, set minimum rental period and establish housekeeping service levels, without prior notice to the owner. Rates may change on a daily/weekly basis depending on supply and demand.

3. LISTING OF WEEK(S) FOR SALE:

Owner is required to notify the Rental Agent in writing immediately if the Week(s) is listed for sale during the term of this Agreement. Rental Agent shall have the right to move the reservation to another unit to accommodate the guest. If there is no other place to move the reservation Owner will either appropriately compensate the guest or accommodate the move to another property.

4. TERM AND TERMINATION:

The initial term of this Agreement shall terminate on the last date of the last week listed above. Owner may submit a new application to renew at any time by completing and submitting a new form. Owner may also terminate this agreement at any time subject to any other condition of this agreement that would affect future reservations.

5. INDEMNIFICATION AND MANAGER'S AUTHORITY:

Under this Agreement Owner authorizes the Rental Agent to perform any acts reasonably necessary to carry out this Agreement. It is further mutually agreed that Owner shall indemnify and hold Rental Agent harmless from and against any liabilities or claims which may be made against Rental Agent for injury or damage to person or property by reason of any cause whatsoever (except the willful misconduct or negligence of Rental Agent) occurring either in or about the unit or elsewhere when Rental Agent, its agents or employees are carrying out the provisions of the Agreement or otherwise acting under Owner's express or implied authority.

6. TIMESHARE OWNER COMMISSION:

The commission paid to the Timeshare/Fractional owner is equal to 50% of the gross rental income actually consumed, less any discounts or refunds. From Rental Agent’s 50% share of the gross rental income the rental Rental Agent shall collect from the rental guest and/or pay for the following rental expenses: credit card fees, travel agent commissions, housekeeping charges, resort fees, and retail sales tax, lodging tax and short term rental fees as charged by the local authority.

7. LOCAL REGULATIONS AND SALES TAX:

Owner understands that Rental Agent abides by all local short-term rental regulations and that Rental Agent will submit all retail sales and lodging tax to the appropriate authorities.

8. MARKETING:

Rental Agent will market and list the property week through distribution channels, direct website booking engines, and any other advertising the association chooses but does not guarantee visibility on any or all channels.

9. GUEST RESERVATION CANCELLATION POLICY:

Owner understands that guest reservation cancellation policy may change from time to time based on rental demand and market competition. The Rental Agent has full authority to adjust without notice.

10. RENTAL AGENT’S GENERAL LIABILITY INSURANCE:

Rental Agent shall maintain a general liability insurance policy in the amount of $1,000,000.

11. OPERATION OF WEEK/UNIT:

Rental Agent shall operate, maintain and repair the unit in compliance with the operating budget of the Timeshare Association and all applicable covenants, codes, ordinances and regulations.

12. JURISDICTION:

It is understood and agreed that if any action is brought in a court of law by either party to this Agreement as to the enforcement, interpretation or construction of this Agreement or any document provided by herein, the parties agree that such action shall take place in the County of Grand, Colorado.

13. ASSIGNMENT:

This Agreement may be assigned by either party by serving written notice to the other party.

14. INTEGRATION:

This Agreement constitutes the entire Agreement and understanding of the parties, and all prior negotiations, Agreements, representations and understandings shall be deemed to be merged into and superseded by this Agreement.

15. TIME IS OF THE ESSENCE:

It is expressly agreed that time shall be deemed to be of the essence in this Agreement. The failure of either party to exercise any right under this Agreement upon any default by the other party, shall not constitute a waiver of any rights hereunder, and shall not prevent such party from exercising any of the rights herein granted upon any subsequent default.

16. AMENDMENT AND VALIDITY:

No amendment, change or modification of this Agreement shall be binding between parties unless in writing and executed by Owner and Rental Agent. If any portion of this Agreement, or amendment thereto, shall be held invalid contrary to law, such portion shall be severable from this Agreement and the remainder of this Agreement and the terms and provisions thereof shall not be affected thereby and all other terms and provisions of this Agreement shall be valid and enforceable between parties.

17. COMMUNICATION:

All notices required by this Agreement shall be in writing and shall be sent by U.S. certified mail to the following addresses: OWNER ADDRESS: As listed above RENTAL AGENT ADDRESS: Mountainside Timeshare/Fractional Owner Association P.O. Box 4104 Granby, CO 80446 970-887-6030

18. BINDING AGREEMENT:

This Agreement shall be binding upon the heirs, executors, administrators, successors and assigns of the Parties hereto. The acceptance of this agreement between Owner and Rental Agent is evidenced by the signatures below: