Blank sales agreement


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Blank sales agreement

  1. 1. TIMESHARE SALES AGREEMENT Date of Purchase:
  2. 2. 1. Seller Information:Phone:Email:2. Buyer & Transfer Information:Phone:Email:3. Timeshare Description: A. Resort B. UNIT NUMBER C. USE WEEK & SEASON D. UNIT SIZE E. POINTS F. NEXT USE YEAR & USAGE:4. Purchase Information: A. Property B. Closing/Transfer $0.00
  3. 3. 5. SALE AND PURCHASE: Seller agrees to sell and Buyer agrees to buy: the Timeshare described in Section 3hereinabove; and, the corresponding right to use and occupy the Timeshare Unit (described in Section 3B) for one weekduring the interval (described in Section 3C).6. PURCHASE PRICE AND PAYMENT: In exchange for Sellers transferring to Buyer all of the Sellers ownership rights inthe Timeshare described in Section 3, Buyer will pay Seller the Total Purchase Price set forth in Section 4. Buyer will payto Seller the amount stated therein via PayPal, personal or certified check upon Buyers signing the contract.7. RECORDING COSTS: Recording Costs, including any recording fees and any transfer taxes, shall be paid by theBuyer.8. ASSIGNABILITY: Buyer may not assign this Contract.9. SELLERS WARRANTIES: To Sellers Knowledge Seller warrants that:A. All maintenance assessment fees for the Timeshare are current through prior use year.B. All taxes for the Timeshare are current through prior use year.C. There is no current mortgage or Deed of Trust or Outstanding Loan Balance on the Timeshare; any prior mortgage orDeed of Trust or Loan Balance has been paid in full.D. There are no judgments or liens on the Timeshare to Sellers Knowledge.E. The Timeshare is not property of a pending bankruptcy estate to Sellers KnowledgeF. Seller has clear and marketable title to the Timeshare to Sellers Knowledge (subject to (1) zoning ordinances,fire/safety ordinances, building codes and recorded agreements which limit the use of the Timeshare; (2) recordedsetbacks, easements, restrictions, and right-of-ways; (3) recorded assignments/reservations of water, mineral, or otherrights; and (4) the covenants, rules, restrictions, reservations, conditions, and/or provisions set forth in the documentsestablishing the timesharing use or vacation club plan).G. Seller has the right to possession of the Timeshare;H. Seller has not transferred or encumbered title to the TimeshareOther than as expressly stated hereinabove, Seller makes no other warranties or representations concerning theTimeshare.10. PHYSICAL CONDITION OF THE TIMESHARE UNIT OR RESORT: Seller makes no representations or warrantiesconcerning the physical condition of the Timeshare Unit or the Resort--this is an AS IS transfer in present physicalcondition with any/all existing faults. Buyer is advised to directly contact the Resort, its Property Manager, and/or itsHomeowners Association with any questions about the physical condition of the Timeshare or the Resort.11. FIRST USE: Unit Week(s) described above are available for Buyers first use as described in Section 3(F) above.12. BANKED WEEKS, ETC. NOT INCLUDED IN SALE: Banked Weeks are not included in sale. Exchange NetworkMembership is not included in sale.13. DEED:A. Seller shall transfer title to deeded property via Warranty Deed (or Grant Deed in California). Non deeded propertyshall be transferred with the resort or the resorts designated agent.B. Buyer will provide Seller with all vesting information, including legal names of all parties on the Deed and full legaladdresses for each.
  4. 4. 14. DEFINITIONS: As used in this Contract:A.Timeshare shall mean the form of ownership providing a right to use and occupy a room, apartment, villa, cottage orthe like for a specified interval each year, either fixed or varied as to date and place, whether or not such ownership is infee simple, for a fixed term or years or number of uses, established as part of a condominium regime, club plan, orotherwise.B.Timeshare Unit shall mean the physical space dedicated to physical ownership, listed in Section 3(B) above.C.Week shall mean a seven day period commencing on Saturday or other day of the week, depending on the timeshareplan established by the Resort listed in Section 3 above. Week number 1 is the first week commencing after January 1 ofeach year; subsequent weeks are numbered consecutively through Week 52, which extends until commencement of thefollowing week number 1.15. CONTRACT CANCELLATION:A. Buyer shall have the right to cancel this Contract within TEN (10) DAYS after the Effective Date (as described inSection 17 below) of this Contract. To cancel, Buyer must deliver via fax to Seller a written and signed Notice ofCancellation. If Buyer timely and properly cancels this contract within 10 days, all monies paid by Buyer shall be returnedto Buyer. Neither party shall thereafter have any further obligations to the other with respect to this Contract.B. If there is more than one Buyer, then cancellation by one Buyer automatically cancels the Contract as to all Buyer(s);Seller is under no obligation to sell to remaining Buyer(s).C. If Buyer does not notify Seller within the aforesaid time, this Contract shall become enforceable and unconditional ten(10) days after the Effective Date.16. EFFECTIVE DATE: The date of this Contract (Effective Date) will be the date when the last one of the Buyer(s) andSeller(s) has signed this Contract.17. RISK OF LOSS: Any loss or damage to the Timeshare Unit by fire or other hazard is the Sellers responsibility until theWarranty Deed is recorded. If the Timeshare Unit suffers damage prior to recordation of the Warranty Deed, Buyer shallbe given the option of accepting title to the Timeshare or canceling this Contract with a full refund of any and all moniespaid.18. ADDITIONAL DOCUMENTS: Buyer and Seller each agree to fully cooperate with each other and to timely andproperly execute such further and additional documents as may be reasonably necessary to transfer title and/or toeffectuate the terms and conditions of this Contract.19. ARBITRATION:A.Agreement to Arbitrate: Buyer and Seller agree that any dispute or claim, in law or equity, of any nature whatsoever,arising between them out of this Contract or the resulting transaction, shall be decided by neutral, binding arbitrationbefore a representative of the American Arbitration Association (AAA). If the Resort is located in the United States, thenthe arbitration shall occur either in the State/County where the Resort is located, or in San Mateo County, CA. If theResort is NOT located in the United States, then the arbitration shall occur in San MateoCounty, CA. Either or both partiesmay attend the arbitration and all preliminary proceedings telephonically. Any final judgment or award by the arbitratorshall be in accordance with the limitations on remedies and relief as set forth in Sections 21-23 hereinbelow. A finaljudgment or award by the arbitrator may then be duly entered and recorded by the prevailing party in appropriate Court asa final judgment. The arbitrator shall also have the power to award costs (including the AAA fee) to the prevailing party,but NOT attorneys fees.B. Exclusion from Arbitration: Buyer and Seller agree that if the amount of the dispute or claim is less than TwoThousand Five Hundred Dollars ($2,500), the parties may proceed in Small Claims Court in San Mateo County, CA inlieu of arbitration. In such event, both parties agree to submit to subject matter and personal jurisdiction in Small ClaimsCourt in San Mateo County, CA to the fullest extent permitted by law.20. SOLE REMEDIES/RELIEF:A. Buyers Sole Remedy/Relief: In the event that:1. Seller is unable to convey clear and marketable title to the Timeshare; or
  5. 5. 2. Buyers claims breach by Seller of Sellers Warranties (as described in Section 10 above);3. Buyer claims breach of Contract by Seller; and/or4. Buyer asserts any other dispute or claim, in law or equity, against Seller,then both Buyer and Seller expressly agree that Buyers sole and exclusive remedy shall be limited to a refund by Seller ofmonies paid by Buyer to Seller.B. Sellers Sole Remedy/Relief: In the event that:1. Buyer fails/refuses to pay for the Timeshare;2. Seller claims breach of Contract by Buyer; and/or3. Seller asserts any other dispute or claim, in law or equity, against Buyer,then both Buyer and Seller expressly agree that Sellers sole and exclusive remedy shall be limited to recovery of the TotalPurchase Price as set forth in Section 4.21. NO LIS PENDENS: Both Buyer and Seller expressly agree NOT to record in the Land Records any lis pendens orother document purportedly giving notice of or identifying a dispute or claim between them, or to take any other action todeliberately cloud title while a dispute or claim is pending.22. PREVAILING PARTY; COSTS: In any action, proceeding or arbitration between the Buyer and Seller, the prevailingparty shall be entitled to costs but NOT attorneys fees.23. CLOSING; POSSESSION: Unless otherwise agreed upon by both parties, closing shall take place by mail.24. TAXES; MAINTENANCE FEES: As stated above (and unless otherwise agreed in this Contract), Seller is responsiblefor or has paid the maintenance fees and taxes for the year in which the Contract is signed. Any fees, charges, dues,assessments, and/or taxes accruing after the Effective Date will be Buyers responsibility. Buyer is advised to directlycontact the Resort, its Property Manager, and/or its Homeowners Association with any questions about any fees, charges,dues, assessments, and/or taxes accruing after the Effective Date.25. RULES/REGULATIONS: As stated above there certain covenants, rules, restrictions, reservations, conditions, and/orprovisions set forth in the documents establishing the timesharing use or vacation club plan) that restrict and govern howthe Timeshare may be used. Buyer agrees to use the Timeshare in conformance with, and abide by, all such covenants,rules, restrictions, reservations, conditions, and/or provisions. Buyer is advised to directly contact the Resort, its PropertyManager, and/or its Homeowners Association with any questions about such covenants, rules, restrictions, reservations,conditions, and/or provisions.26. SELECTION OF SERVICE PROVIDERS: If Seller gives Buyer a referral to a person, vendor, service or productprovider, Seller does NOT guarantee performance by that provider. Buyer is free to select a different provider ofhis/her/their own choosing.27. EQUAL HOUSING OPPORTUNITY: Seller is an Equal Opportunity Seller, and does not discriminate based on race,gender, disability, religion, national origin, or any other protected class. Seller advertises and sells in compliance withFederal and state anti-discrimination laws.30. MISCELLANEOUS PROVISIONS:A. The parties each represent that they have each made such investigation of the Timeshare and of any/all factsapplicable to this Contract and transaction, as each deems necessary. Moreover, the parties each represent that theyhave each had the benefit of independent legal counsel or other representation, or have elected to waive that right andproceed without legal counsel or other representation.B. There have been no other agreements or understandings between the parties; this Contract contains the entire termsof the parties agreement. In connection with this Contract, each party specifically does not rely on the representationsand/or promises of any other party, except as expressly contained herein. All prior discussions and negotiations are
  6. 6. merged herein and are superseded thereby. This Contract replaces and supersedes any prior written or verbalunderstandings and agreements.C. This Contract shall be interpreted and enforced in accordance with and governed by California law. This Contract shallbe interpreted and enforced in accordance with the plain meaning of its terms, and without regard to which party drafted itor one of its provisions. The provisions of this Contract are severable; if any one of its provisions is deemed illegal orunenforceable, then the remaining provisions shall nevertheless remain in full force and effect.D. This Contract may be executed in counterparts.E. An individual executing this Contract in a capacity for a party hereby expressly represents and warrants that he/she hasthe authority, consent and capacity to execute this Contract in such capacity for such party.F. The parties agree that a fully-executed copy of this Contract shall have the same force and effect as an original. Theparties further agree that they may each sign via fax, and that a fax signature shall have the same force and effect as anoriginal. A facsimile copy of this Contract and any signatures thereon shall be considered for all purposes as originals.G. The parties agree that this Contract shall be binding on each parties respective heirs and successors.H. This Contract can only be changed by an agreement in writing signed by both Buyer and Seller. Buyer(s) Seller(s) Date: Date: