Wave Crest Resort Owner Rental Enrollment

Primary Owner First Name: * 

Primary Owner Last Name: * 

Email:

Contact Phone:

Address: Street: * 

Address: City: * 

Address: State: * 

Address: Zip/Postal Code: * 

Address: Country: * 

Account Number: * 

Reservation Confirmation #: *

Check-in Date (Use MM/DD/YY format):

Check-Out Date (Use MM/DD/YY format):

Unit Type: * Studio1 Bedroom Condo2 Bedroom Condo

Use Year: * 202220232024

The Reservation information above (the “Use Week”) is required to enter into the Owner Rental Program. If you do not know your reservation confirmation number or haven’t reserved your Use Week, please call Grand Pacific Vacation Services at (888) 477-6967. All questions and requests for information you have in connection with this Agreement, including accounting and rental status, will be made either by email to OwnerRental@gpresorts.com, or call to (800) 831-3027.

Owner Rental Agreement

This Owner Rental Agreement (this “Agreement”) is a binding contract between you, the above referenced owner (“Owner,” “you,” or “your”) and Grand Pacific Resort Services, L.P., (“GPRS,” “we,” “us,” or “our”), together “Parties” or individually “Party”.

This Agreement will only take effect and be accepted if the date you submit this Agreement IS at least six (6) weeks in advance of the occupancy date of your Use Week.

THIS AGREEMENT TAKES EFFECT WHEN YOU CLICK THE “I ACCEPT” BUTTON BELOW (the “Effective Date”). BY CLICKING ON THE “I ACCEPT” BUTTON AT THE BOTTOM OF THIS FORM YOU (a) ACKNOWLEDGE YOU HAVE READ AND UNDERSTAND THIS AGREEMENT; (b) REPRESENT AND WARRANT (i) YOU ARE OF LEGAL AGE TO ENTER INTO THIS AGREEMENT, (ii) YOU HAVE THE RIGHT, POWER, AND AUTHORITY TO ENTER INTO THIS AGREEMENT AND, (iii) IF ENTERING INTO THIS AGREEMENT FOR AN ORGANIZATION, YOU HAVE THE LEGAL AUTHORITY TO BIND THAT ORGANIZATION; AND (c) ACCEPT THIS AGREEMENT AND AGREE YOU ARE LEGALLY BOUND BY ALL ITS TERMS.

IF YOU DO NOT AGREE TO THESE TERMS, PLEASE SELECT THE “I DECLINE” BUTTON BELOW OR DO NOT COMPLETE THE FORM. IF YOU DO NOT ACCEPT THESE TERMS, WE WILL NOT PROVIDE THESE RENTAL SERVICES TO YOU.

OWNER GRANTS GPRS THE EXCLUSIVE RIGHT TO RENT OWNER’S USE WEEK, PURSUANT TO THE TERMS OF THIS AGREEMENT. GPRS MAY MAKE ANY CHANGES NECESSARY TO ROOM CONFIGURATIONS TO FACILITATE RENTAL REQUESTS. ONCE OWNER ENTERS INTO THIS RENTAL AGREEMENT, OWNER CANNOT MODIFY OR CANCEL HIS/HER RESERVATION. ONCE A RESERVATION HAS BEEN MADE AND CONTRACTED, NO DATE OR ROOM CONFIGURATION CHANGE(S) MAY BE MADE BY OWNER. GPRS FULLY RESERVES THE RIGHT TO DECLINE ANY SUBMITTED USE WEEK, WITHOUT REASON OR EXPLANATION.

1. PURPOSE. This Agreement governs the Parties’ rights and obligations regarding the rental of your Use Week and your participation in the Owner Rental Program.

2. EXCLUSIVE AGENT. Owner agrees to an exclusive agency relationship with GPRS. GPRS will attempt to rent the Owner’s Use Week. GPRS may rent to any persons including, but not limited to, owners, exchange users, GPRS and its affiliates, and the general public. Said rental period may be for one or more of the nights within Owner’s Use Week. In addition, GPRS has the right to decline additional Use Weeks by the Owner into the program for any reason.

3. TERM AND TERMINATION.

A. Term. This Agreement begins on the Effective Date and continues until terminated. After the check-in date of your Use Week has passed, you must submit a new agreement if you wish to participate in the Owner Rental Program for the next year. Each Use Week you own and wish us to rent through GPRS must be the subject of a separate agreement. This Agreement applies only to the Use Week identified above.

B. Termination.

i. Automatic Termination. This Agreement will terminate automatically, without further action, immediately upon GPRS’s completed rental of your Use Week or upon the check-out date for this contracted Use Week.

ii. Right to Termination. Either Party may terminate this Agreement for any reason, including if Owner wishes to rent, use or bank the Use Week with any other exchange company, provided: (a) the Use Week has not already been rented or reserved, in whole or in part, and (b) Owner provides at least ten (10) days’ advance notice to GPRS. As consideration for the right to terminate this Agreement, upon furnishing notice of termination, Owner agrees to pay GPRS a termination fee of Ninety-Nine Dollars ($99) (“Termination Fee”). The Parties intend the Termination Fee to be liquidated damages constituting compensation, and not a penalty. The Parties acknowledge and agree damages resulting from Owner’s termination would be impossible or very difficult to accurately estimate, and the Termination Fee is a reasonable estimate of GPRS’s anticipated or actual harm that may arise from such termination. Owner’s payment of the Termination Fee is Owner’s sole liability and entire obligation and GPRS’s exclusive remedy for any termination by Owner under this Section 3.B.ii. Provided GPRS has not already rented your Use Week, you may make a one-time request to remove available nights from your Use Week by providing notice at least forty-eight (48) hours prior to the check-in date of your Use Week.

4. RCI POINTS OWNERS. Only Home RCI week reservations will be eligible for the Owner Rental Program. Reservations must be confirmed with RCI points prior to submission to the Owner Rental Program. Home Week reservations must be entered in their entirety (full 7 days). No partial week reservations will be accepted using RCI points.

5. NO GUARANTEE. Owner unequivocally understands and agrees that there is NO guarantee the Use Week will be rented, in whole or part, nor rented at any pre-established rate. GPRS agrees to use reasonable efforts and due diligence to rent the Use Week at the best possible rate, but may rent less than the entire Use Week and quote rates less than suggested rates. OWNER ACKNOWLEDGES AND AGREES THE NUMBER OF DAYS OF THE USE WEEK RENTED AND ASSOCIATED RENTAL RATES WILL BE DETERMINED AT GPRS’S SOLE DISCRETION AND IS FINAL.

6. SALE OR TRANSFER OF OWNERSHIP. In the event that Owner transfers ownership of the ownership and/or Use Week, such transfer shall be subject to this Agreement, and Owner shall immediately notify GPRS, in writing, of such pending transfer of ownership, including the name(s), address, phone number(s) and email address of the new owners. It is the responsibility of the current Owner to inform the new owner of this Agreement and that the purchase of the ownership and/or Use Week is subject to this Agreement.

7. LIMITATION OF LIABILITY AND INDEMNIFICATION. IN NO EVENT SHALL THE RESORT’S OWNERS ASSOCIATION (“ASSOCIATION”), GPRS, OR THEIR AFFILIATES, DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, SUCCESSORS, OR ASSIGNS (TOGETHER, “RELEASED PARTIES”) BE LIABLE TO OWNER FOR CONSEQUENTIAL, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, PUNITIVE, OR ENHANCED DAMAGES ARISING OUT OF, RELATING TO, AND/OR IN CONNECTION WITH THE RENTAL OF ANY USE WEEK PURSUANT TO THIS AGREEMENT. THE RELEASED PARTIES’ MAXIMUM LIABILITY TO OWNER ARISING OUT OF OR RELATED TO THIS AGREEMENT, WHETHER ARISING OUT OF OR RELATED TO BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE), OR OTHERWISE, SHALL BE THE FAIR RENTAL VALUE OF THE USE WEEK. OWNER AGREES TO INDEMNIFY AND HOLD HARMLESS THE RELEASEED PARTIES FROM ANY AND ALL LIABILITY RESULTING FROM THIS AGREEMENT.

8. OCCUPANT PAYMENTS. Owner authorizes GPRS to accept and hold deposits and proceeds received from any renter or user (“Occupant”) of Owner’s Use Week.

9. COMPENSATION.

A. Fee. Owner agrees to pay GPRS as compensation for services a fee equal to thirty-five percent (30%) of the Gross Rental Proceeds (as defined below) (the “Fee”).

B. Payment of Fee. Owner agrees GPRS may retain the Fee from any deposit and proceeds GPRS collects from any Occupant.

C. Definition of “Gross Rental Proceeds”. For purposes of this Agreement, “Gross Rental Proceeds” means all rents, actually received from any Occupant of Owner’s Use Week less taxes and/or credit card surcharges incurred in connection with renting Owner’s Use Week.

D. Taxes. All resorts are located within a governmental jurisdiction that may impose additional taxes based on rental revenues (i.e., transient occupancy tax), and such tax will be collected from the Occupant and paid by GPRS in a manner consistent with local jurisdiction requirements.

E. Owner authorizes GPRS to utilize all travel agencies at the commissionable rates that GPRS has contracted for its direct distribution or on behalf of an Association.

i. Example of Gross Rental Proceeds (for illustrative purposes only, not reflective of all rentals):

i. Night is rented at a rate of $100.00.

1. Occupant pays $110.00 (nightly rate plus 10% taxes).

ii. Merchant processing fees total 3% of rental rate.

1. $100.00 x 3% = $3.00 processing fees.

2. $100.00 – $3.00 = $97.00.

iii. Net proceeds total 70% to Owner (30% Fee to GPRS).

1. $97.00 x 70% = $67.90 example final payment to Owner.

10. PAYMENT OF RENTAL PROCEEDS. Owner shall not be responsible for collection of rent from the Occupant. GPRS will be responsible for collection of all sums due from Occupant. In the event that GPRS is unable to collect rent or other sums due, GPRS shall exercise collection efforts in its sole discretion, which may be terminated at any time at the sole discretion of GPRS. GPRS shall have no liability to Owner for uncollected/unpaid rents.

A. Time of Payment. Payment by GPRS to Owner of rental proceeds, less all charges specified in this Agreement (taxes, credit card surcharges), shall be paid to Owner in accordance with this Agreement, within sixty (60) days from the last day of the Use Week. Payment shall be mailed to the Primary Owner listed on the account.

B. If Owner is delinquent in the payment of any money owed to the Resort Home Owner’s Association (“Delinquent Association Fees”) at the time rental proceeds are to be paid to Owner, Owner authorizes GPRS to (i) deduct the amount of the Delinquent Association Fees from the rental proceeds payable to Owner; and (ii) pay the Delinquent Association Fees to the Association.

11. TAX FORMS. Promptly after the Effective Date, Owner agrees to provide GPRS with a fully executed Internal Revenue Service Form W-9, or W-8, properly completed and signed, and such other forms and documents GPRS may reasonably request. Use Form W-9 if you are a U.S. person (including a resident alien), to provide your correct Taxpayer Identification Number. Use Form W-8 if you are a foreign resident. FAILURE TO PROVIDE THE REQUIRED DOCUMENTATION WILL RESULT IN NON-PAYMENT OF ANY RENTAL PROCEEDS. GPRS makes no representations regarding tax consequences, if any, of any benefit conferred pursuant to this Agreement.

12. CANCELLATION BY OCCUPANT. GPRS shall require Occupants to pay a deposit, or prepay full rental charge, upon execution of rental reservation. Occupants who cancel their rental reservation more than 72 hours before check-in will receive a full refund. Occupants who cancel within 72 hours of the check-in date forfeit the full rental amount.

13. REPRESENTATIONS AND WARRANTIES. Owner represents and warrants: (a) Owner has the requisite power and authority to enter into and perform the obligations under this Agreement; (b) Owner has the legal right to rent the Use Week, including on behalf of all persons on title of the Use Week; (c) Owner is not bound by any rental agreement with any other person or entity for the rental of the Use Week that is or will be in effect during the term of this Agreement; (d) no other person or entity has any right to rent the Use Week by an option, right of refusal, or other agreement; (e) Owner is not, and will not be at the time we rent your Use Week, delinquent in the payment of any money owed to the Association; (f) all information provided is, to Owner’s knowledge, true, and correct.

14. GPX BANKING PROGRAM. More information regarding the Grand Pacific Exchange Program (“GPX”) program is available at www.gpxvacations.com. BY CHOOSING THE “I CONSENT” DROP DOWN OPTION BELOW, you authorize GPRS to deposit your Use Week into the GPX if we have not rented at least three (3) nights of your Use Week fourteen (14) days prior to the check-in date of your Use Week. Notwithstanding the preceding sentence, if your Use Week is for a property in Hawaii, you authorize GPRS to deposit your Use Week into GPX if we have not rented at least three (3) nights of your Use Week thirty (30) days prior to the check-in date of your Use Week. You will have two (2) years from date your Use Week is deposited into GPX to redeem an exchange week directly through GPX. You will not be required to pay any GPX membership fees in connection with said exchange. However, you shall be subject to and pay a one-time associated exchange fee. If less than three (3) nights of the Use Week are rented, and the Use Week is deposited into GPX, GPRS shall retain all rental revenue and the Owner shall receive credit for a full week vacation through GPX. BY CHOOSING THE “I DECLINE” DROP DOWN OPTION BELOW, YOU OPT OUT OF THE GPX BANKING PROGRAM.

GPX Banking Program: *  I ConsentI Decline

15. GOVERNING LAW AND DISPUTE RESOLUTION. This Agreement is governed by and construed in accordance with the laws of the State of California. Any suit, complaint, action, or proceeding (“Dispute”) arising out of or related to this Agreement or the rights granted hereunder will be instituted exclusively by individual arbitration, except any claims which may be filed in small claims court, if applicable. It is intended that this agreement to arbitrate be broad and comprehensive. The Parties expressly agree to waive any right to a jury trial and any right to bring or participate in a class action. The exclusive forum for resolving a Dispute shall be arbitration administered by Judicial Arbitration and Mediation Service, pursuant to streamlined rules and procedures. Venue shall be exclusively in San Diego County, California. The arbitrator shall follow governing substantive law and issue a written decision on the merits. The arbitration award shall be final and binding on the parties, and if the award is equal to or less than $5,000.00 there shall be no right of appeal.

16. ATTORNEYS’ FEES. If any party institutes any legal suit, action, or proceeding, including arbitration, against the other party to enforce this Agreement (or obtain any other remedy regarding any breach of this Agreement), the prevailing party in the suit, action or proceeding will be entitled to seek, in addition to all other damages to which it may be entitled, the costs incurred by such party in conducting the suit, action, or proceeding, including reasonable attorneys’ fees and expenses.

17. MODIFICATIONS. Owner acknowledges and agrees that GPRS has the right, in its sole discretion, to modify this Agreement language from time to time, and modified terms will become effective upon posting. Owner is responsible for reviewing and becoming familiar with any such modifications prior to completing this form.

18. SEVERABILITY. If any provision of this Agreement is held by a court of competent jurisdiction to be void or unenforceable for whatever reason, the remaining provisions not so declared shall nevertheless, continue in full force and effect, without being impaired in any manner whatsoever. In construing the terms of this Agreement, no presumption shall arise against any Party based upon having drafted any provision of this Agreement.

19. MISCELLANEOUS. The headings in this Agreement are for reference only and shall not affect the interpretation of this Agreement. This Agreement constitutes the entire agreement and understanding between the Parties regarding the subject matter hereof and supersedes all prior and contemporaneous understandings, agreements, representations, and warranties, both written and oral, with respect to such subject matter. Any notices to GPRS must be sent to the corporate headquarters address at 5900 Pasteur Ct #200, Carlsbad, CA 92008, Attention Grand Pacific Resort Services, L.P. and must be delivered either in person, by certified or registered mail, return receipt requested and postage prepaid, by recognized overnight courier service, by email to OwnerRentals@gpresorts.com, and are deemed given upon receipt by GPRS. Notwithstanding the foregoing, Owner hereby consents to receiving electronic communications from GPRS regarding this transaction, rental, enrollment, and/or Agreement. These electronic communications may include notices about applicable fees and charges, transactional information, and other information concerning or related to this Agreement. You agree any notices, agreements, disclosures, or other communications we send to you electronically will satisfy any legal communication requirements, including that such communications be in writing. The invalidity, illegality, or unenforceability of any provision herein does not affect any other provision herein or the validity, legality, or enforceability of such provision in any other jurisdiction. Any failure to act by GPRS with respect to a breach of this Agreement by you or others does not constitute a waiver and will not limit our rights with respect to such breach or any subsequent breaches. This Agreement is personal to you and may not be assigned or transferred for any reason whatsoever without GPRS’s prior written consent and any action or conduct in violation of the foregoing will be void and without effect. GPRS expressly reserves the right to assign this Agreement and to delegate any of its obligations hereunder.

BE SURE TO SAVE OR PRINT A COPY OF THIS AGREEMENT FOR YOUR FILES. BY CHOOSING THE “I ACCEPT” BUTTON BELOW AND ENTERING YOUR NAME YOU AGREE TO ACCEPT THE ABOVE TERMS AND PLACE YOUR USE WEEK INTO THE OWNER RENTAL PROGRAM.

I ACCEPTI DECLINE

Name: *