This Agreement is entered into between Sea Club V Condominium Association, Inc. hereinafter referred to as “Sea Club” and owner(s) identified above (hereinafter referred to as “Owner”). In consideration of the mutual covenants contained herein, the parties agree as follows:
I. Appointment of Agent. The undersigned Owner on behalf of himself/herself and any other Co-Owners of the timeshare interest(s) described above (herein “Property”) appoints Agent as exclusive agent for rental of the Property for the effective period described above. Owner grants Agent the exclusive right to rent the Property herein described, for the effective period herein described, at rates and terms to be established at the sole discretion of Agent. Rental rates shall be based upon, but not necessarily equal to, prevailing seasonal rates established by Agent. Prevailing rates are subject to all discounts given, whenever deemed appropriate in Agent’s sole discretion, to secure the booking. Owner acknowledges that AGENT DOES NOT GUARANTEE THAT ACCOMMODATIONS WILL RENT AT THE RESORTS PUBLISHED RATES. This appointment shall extend to charging, collecting and remitting sales tax levied under Chapter 212, Florida Statues, to the Department of Revenue of the State of Florida; and to the enforcement of the use restrictions and provisions of the declaration of condominium, articles of incorporation, bylaws and rules and regulations of Sea Club V.
II. Commission. Owner agrees to pay to Agent a commission in the amount of 30% of the gross rental received.
III. Owner’s Share of Net Rental Proceeds.
Agent shall remit to Owner the net rental proceeds less the commission and any unpaid maintenance fees, late fees, real estate taxes or charges of any kind that may be due and owing to Agent by Owner.
IV. Non-U.S. Resident Owners. Under current United States Tax Law, Agent is required to and therefore will withhold 30% of the gross rental income collected on behalf of Non-U.S. Resident Owners, unless such owners provide the Agent with either a U.S. Social Security number or a U.S. Federal I.D. number. The Social Security number or I.D. number must be on file at Sea Club V prior to the start of the interval period to avoid withholding applicable taxes.
V. Deposits. Agent will collect a 50% deposit to secure reservation bookings. In the event of a cancellation with less than 30 days’ notice prior to occupancy time, the deposit will be disbursed in the manner as described in the paragraph 2, above. However, Agent reserves the right to waive retention of deposits regardless of cancellation time in situations that are deemed “special circumstances” by Agent in its sole discretion. “Special Circumstances” may include, but not necessarily limited to, death or family emergencies, re-rental of unit, Acts of God, etc. Agent also reserves the right to change the deposit policy at any time without prior notice and Owner authorizes Agent to resolve any disputes with renters even if that resolution alters deposits or rental rates. Agent will maintain all deposits in a Federally insured account. Deposits may be commingled with other deposits. Agent shall retain any interest earned on the deposits.
VI. Rental Periods. Agent may rent accommodations either daily or for a full week. AGENT DOES NOT GUARANTEE A FULL WEEK RENTAL FOR ACCOMMODATIONS LISTED BY OWNER. Agent provides one cleaning per interval week. Owner agrees to be responsible for the additional cleaning cost if the Property is occupied by more than one tenant during the course of the interval, requiring an extra cleaning.
VII. Condition Precedent and Disclaimers. All assessments or monies of any kind due the Agent must be paid prior to this Rental Agreement becoming effective. This Agreement does not imply or guarantee that the Property will be rented or the amount for the rental. Agent is not required to contact Owner with regard to rental status of the Property.
VIII. Owner’s Warranty. Owner warrants he/she is the owner of the Property described above and fully authorized to enter into this Rental Agreement. An Owner has not exchanged the right to use the Property for the interval period listed above with any interval exchange system. Owner has the authority to enter into this Agreement and receive the Owner’s share of Net Rental Proceeds on behalf of all co-owners of the Property listed for rental hereunder and agrees to indemnify Agent from any claims by co-owners. Owner acknowledges his understanding that it is the Owner’s duty and responsibility to contact agent to determine the rental status of the Property and that such rental status could be subject to change up until and including the first day of the rental period.