This Agreement is entered into between the owner(s) identified above (herein "Owner") and OM VILLAS, LLC, (herein "Agent"). In consideration of the mutual covenants contained herein, the parties agree as follows:
- Appointment of Agent.
The undersigned Owner(s) 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 period described above unless otherwise noted on this contract. Owner(s) grants Agent the right to rent the Property herein described, for the period herein described, at rates and terms to be established by Om Villas (unless otherwise noted) as Agent. Rental rates shall be based upon, but not necessarily equal to, prevailing seasonal rates established by agent. Owner acknowledges that agent does not guarantee that accommodations will rent or that they will rent at certain rates. Owner understands that Agent represents Owner and will do their very best to secure the highest rate possible. Agent can alter rates without contacting Owner in order to secure rental. This appointment shall extend to charging, collecting and remitting any tax levied under the laws of the Virgin Islands. Om Villas will contact owners once their week has been booked.
- Commission.
Owner agrees to pay to Agent a commission in the amount of 25% of the net rental received.
- Owner's Share of Net Rental Proceeds.
Agent shall remit to Owner 75% of the net rental proceeds, less any credit card processing fees, once the rental period is completed.
- Owner.
Om Villas markets and advertises your week at no cost to Owner or membership fee. Due to this arrangement Om Villas asks for your cooperation should you wish to cancel this agreement as follows and only under the following circumstances: a) Owner wishes to bank the week (no earlier than 15 days prior to arrival date) b) Owner wishes to convert to points at 60 days prior to arrival date c) Owner wishes to use, rent or give the week away. Any and all cancellations are subject first to secured bookings so it is imperative that you check with us prior to making any other commitments. All cancellation requests must be submitted in writing by owner and will be confirmed by OM VILLAS in writing if not subject to bookings.
- Deposits.
Agent will collect a 50% deposit upon reservation of bookings and balance at 60 days prior to arrival. Agent reserves the right to change the deposit policy at any time. Owner authorizes Agent to resolve any disputes with renters even if that resolution alters deposits or rental sales. Agent will maintain all deposits in a federally insured escrow account. Deposits may be commingled with other deposits.
- Rental Periods.
Agent will represent and rent accommodations for a full week unless specifically given permission otherwise by Owner. Agent will follow rental periods noted on this contract in area above section 1. If a renter would like less than a week or less than time represented on this agreement, Agent will contact Owner for Owner's consent. Om Villas will contact owners once week has been booked.
- Condition Precedent and Disclaimer.
All assessments due the Westin Timeshare Condominium Association must be paid prior to this Rental Agreement becoming effective and reservation confirmations must be verified with Starwood. This Agreement in no way implies or guarantees that the Property will be rented. Agent may not contact owners with regard to rental status of Property until booked. Owner may contact Agent at any time.
- Insurance.
Owners acknowledge that insurance is included in their maintenance fees and covers them for fire, theft, liability and hurricane. For further details on insurance Owners should contact Owner Services. Agent has provided a clause in all Rental agreements indemnifying Owners as well as Om Villas for any injuries, accidents, loss of personal items, damages or room charges to any units. Om Villas shall not be responsible for any injuries, accidents, loss of personal items, damages or room charges to any unit by renters.
- Owner's Warranty & Confirmation of Reservation.
Owner(s) warrant(s) he/she is the owner of the Property described above and fully authorized to enter into this Rental Agreement and has a confirmed reservation for the week(s) with Starwood Owner Services for the year of this rental agreement. Owner acknowledges that Westin does not automatically reserve weeks and it is the OWNER'S responsibility to call to reserve their week(s) with Owner Services (888-986-9637). Owner confirms that he/she has checked that his/her week(s) have been reserved before entering into this agreement. If Owner finds that his/ her week has not been reserved, prior signing this agreement, Agent can help Owner and will advise on what to do or what alternate week to secure based on what is available. If contract is signed without Owner checking on reservation and Agent secures renter and Owner does not have represented week, Owner is responsible for and must pay Agent the full amount of the rental. Owner has not exchanged the right to use the Property for the interval listed above via any interval exchange system. If the timeshare interest is subject to a floating time reservation system, Owner has received confirmation of the use period indicated at top of document. 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 rental status could be subject to change up until and including the first day of the rental period.
- Integration Clause.
This Agreement sets forth the entire understanding of the parties with respect to the subject matter hereof and may not be modified, changed or amended except by writing, signed by the parties.
- Governing Law.
This Agreement shall be governed and construed in accordance with the laws of the U.S. Virgin Islands.
- Signatures.
Faxes or e-mailed signatures are acceptable and shall be considered binding.
