Sample Contract

Emerald Isle Realty, Inc. Vacation Rental Agreement

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1) DISBURSEMENT OF RENT AND THIRD PARTY FEES.
Tenant authorizes Agent to disburse up to fifty percent (50%) of the rent set forth under "Account Information" to the Owner (or as the Owner directs) prior to Tenant's occupancy of the premises, and the balance of the rent upon the commencement of the tenancy, (a material breach of this Agreement by the Tenant, or as otherwise permitted under the Vacation Rental Act.) Tenant agrees to pay $25 processing fee for any check of Tenant that may be returned by the financial institution due to insufficient funds or because Tenant did not have an account at the financial institution. Agent may also disburse, prior to tenancy, any fees owed to third parties to pay for goods, services, or benefits procured by the Agent for the benefit of Tenant including, but not limited to, any fees set forth herein payable to Agent for reservation, transfer, or cancellation of Tenant's occupancy.

2) TRUST ACCOUNT.
All payments made by the Tenant shall be deposited in a trust account in an insured bank or savings and loan association in NC. Tenant agrees that all payments may be deposited in an interest bearing trust account and that any interest thereon shall accrue for the benefit of, and shall be paid to, the Agent (or as owner directs) as it accrues and as often as is permitted by the terms of the account.

3) TENANT DUTIES.
Tenant agrees to comply with all obligations imposed by the Vacation Rental Act on Tenant with respect to maintenance of the Premises, including, but not limited to, keeping the Premises as clean and safe as the conditions of the Premises permit and causing no unsafe or unsanitary conditions in the common areas and remainder of the Premises that Tenant uses, and notifying Agent in writing of the need of replacement of, or repairs, to a smoke detector, and replacing the batteries as needed during tenancy. The vacation property should not be used or occupied by more than the maximum allowable number of occupants including tenant's family, children, and guests. State health rules base occupancy on two persons per permitted bedroom. Tenant's breach of any duty contained in this paragraph shall be considered material, and shall result in termination of Tenant's occupancy. Tenant may not use Premises for any other purpose or activity that violates any criminal law or governmental regulation. Commercial use of the Premises is prohibited. "NO PETS" allowed unless otherwise stated in this Agreement.

4) PROPERTY DAMAGE AND NO WORRIES FEE.
Agent provides the No Worries Protection Program against accidental damage reported before check-out, and requires no Security Deposit. Agent and Owner will not be responsible for loss, theft, or destruction of personal property of Tenant or his guests. Tenant shall not deface, destroy, damage or remove any or part of the property, or render inoperable smoke detector provided.

5) AGENT DUTIES.
Agent agrees to provide the Premises in a fit and habitable condition. If at time Tenant is to begin occupancy of the Premises, and Agent cannot provide the Premises in a fit and habitable condition or substitute a reasonably comparable property in such condition, Agent shall refund to Tenant all payments made by Tenant. Agent shall conduct all brokerage activities in regard to this Agreement without respect to the race, color, religion, sex, national origin, handicap or familial status of any Tenant.

6) CANCELLATIONS/RESERVATION TRANSFERS.
If you should have to cancel your reservation, please notify us in writing immediately. If your reservation must be cancelled, for any reason; all money paid will be forfeited unless the home or condo is re-rented for the entire cancelled period and for the full rental amount. If re-rented, monies will be refunded less the cancellation fee of $100 and travel insurance premium. Guest will be refunded for any fees which are received through Emerald Isle Realty for goods, services, activity packages or rental items that have not already been paid out to third parties. Travel Insurance is nonrefundable. If you should have to transfer your reservation after payment has been made, please notify our office in writing at least 60 days prior to arrival. Transfers may only be made within the same property; otherwise the cancellation policy would prevail. Once a transfer has been made, a new Vacation Rental Agreement and Confirmation will be forwarded to you for your review and signature. Please note: Emerald Isle Realty reserves the right to cancel or transfer reservation at any time prior to taking occupancy. Should this occur, reservation will be transferred to a comparable property or refund all monies received from tenant.

7) TRANSFER OF PREMISES (SALE OF PROPERTY).
(1) If Owner voluntarily transfers Premises, Tenant has the right to enforce this Agreement against the grantee of the Premises if Tenant's occupancy under this Agreement is to end 180 days or less after grantee's interest in the Premises has been recorded. If Tenant's occupancy is to end more than 180 days after such recordation, Tenant has no right to enforce the terms of this Agreement unless the grantee agrees in writing to honor this Agreement. If the grantee does not honor this Agreement, Tenant is entitled to a refund of all advance rent paid (and other fees owed to third parties not already lawfully disbursed). Within 20 days after transfer of Premises, if grantee changes agents, the grantee or the grantee's original agent is required to: (i) notify Tenant in writing of the transfer of the Premises, the grantee's name and address, and the date the grantee's interest was recorded; and (ii) advise Tenant whether he has the right to occupy the Premises subject to the terms of this Agreement or receive a refund of any payments made by Tenant. (2) Upon termination of the Owner's interest in the Premises, whether by sale, assignment, death, appointment of a receiver or otherwise, the Owner, Owner's Agent, or real estate agent is required to transfer all advance rent paid by Tenant (and other fees owed to third parties not already lawfully disbursed) to the Owner's successor-in-interest within 30 days, and notify Tenant by mail of such transfer and of the transferee's name and address. However, if Tenant's occupancy under this Agreement is to end more than 180 days after recordation of the interest of the Owner's successor-in-interest in the Premises, and the successor-in-interest has not agreed to honor this Agreement, all advance rent paid by Tenant (and other fees owed to third parties not already lawfully disbursed) must be transferred to Tenant within 30 days. 4 5 (3) If the Owner's interest of the Premises is involuntarily transferred prior to Tenant's occupancy of the Premises, the owner is required to refund to Tenant all advance rent paid by Tenant within 60 days after the transfer.

8) MANDATORY EVACUATION. If State or local authorities order a mandatory evacuation of an area that includes the Premises, Tenant shall comply with the order. Upon compliance, Tenant will be entitled to a refund through the Travel Interruption Plan of the prorated rent for each night that Tenant is unable to occupy the Premises because of the order. However, Tenant will not be entitled to a refund if, prior to taking possession of the Premises: (i) Tenant refused insurance offered by Agent that would have compensated Tenant for losses or damages resulting from the loss of use of the Premises due to a mandatory evacuation order.

9) EXPEDITED EVICTION. If the tenancy created hereunder is for 30 days or less, the expedited eviction procedure set forth in the VRA will apply. Tenant may be evicted under such procedures if Tenant: (i) Holds over possession after Tenant's tenancy has expired; (ii) Commits a material breach of any provision of this Agreement (including any addendum hereto) that according to its terms would result in the termination of Tenant's tenancy; (iii) fails to pay rent as required by this Agreement; or (iv) has obtained possession of the Premises by fraud or misrepresentation.

10) INDEMNIFICATION AND HOLD HARMLESS. Tenant agrees to indemnify and hold harmless Agent and the Owner from and against any liability for personal injury or property damage sustained by any person (including Tenant's guests) as a result of any cause, unless caused by the negligent or willful act of Agent or the Owner, or the failure of Agent or the Owner to comply with the VRA. Tenant agrees that Agent, the Owner, or their representatives may enter the Premises during reasonable hours to inspect, make repairs, alterations or improvements thereto as Agent or owner may deem appropriate, or show the Premises to prospective purchasers or tenants. Tenant shall not assign this Agreement or sublet the Premises in whole or part without written permission from Agent.

11) OTHER TERMS AND CONDITIONS. In Witness Thereof: This Agreement is executed in two counterparts with an executed counterpart being retained by each party hereto. This is a legally binding contract. If not understood, seek competent advice. A NC Real Estate Licensee may own the subject property. This Agreement shall be governed by and interpreted in accordance with the law of the State of North Carolina. This Agreement shall be treated as though it was executed in the County of Carteret, State of North Carolina, and was to have been performed in the County of Carteret, State of North Carolina. Any action relating to this Agreement shall be instituted and prosecuted in courts in North Carolina. Customer/Tenant specifically consent to such jurisdiction and to extraterritorial service of process. Amendments to this Agreement must be in writing and signed by all parties. This Agreement represents the entire Agreement of the parties, and there are no misrepresentations, inducements or other provisions other than those contained in the Agreement.

12) ADDENDUM. Tenant has received a copy of the Vacation Rental Agreement Addendum. Tenant agrees that Tenant has received, read any such Addendum, and that they shall constitute an integral part of this Agreement.

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