Agreements

WHEREAS, the Owner and Agent wish to enter into an agreement whereby Agent shall have exclusive right to rent, with the exception of the Owner's right described in Article V, according to the rate schedule described in Addendum A, the above referenced property.

ARTICLE I

TERMS OF AGREEMENT

1. Owner hereby appoints agent to act in his place and stead and/or with owner for the purpose of renting the above-referred property.

2. The term of these agreement shall be for a period of twelve (12) months beginning on

______________, __________, and ending at midnight of

______________, __________.

3. This agreement may be terminated ninety (90) days after receipt of written notice from either party indicating a desire to end this agreement. Agent will cancel reservations for dates’ occurring after the contract is terminated if owner so desires. 4. If less than (90) days notice is given by owner, owner will be responsible for agent commission of fifty (50) percent of gross revenues for all reservations for which a deposit is retained for that ninety day period, beginning from receipt of cancellation.

ARTICLE II

RIGHTS OF AGENT

1. Agent shall have exclusive right, with the exception of the owner, to rent the above described property, according to the rates listed in Addendum A, and to such persons as it may elect, in accordance with Federal Housing Laws, subject to the provisions provided herein.

2. Agent shall have the right to charge a fee for services rendered in the rental management of the property, to be determined as follow: Fifty (50) percent of the gross monthly receipts, except those rentals wherein the agent and rental parties have entered onto a long-term lease from which gross receipts a negotiated percentage will be deducted. This percentage is subject to owner's approval. Gross monthly receipts shall mean rentals collected.

ARTICLE III

DUTIES OF AGENT

1. Agent shall remit to owner all rentals collected during the preceding month, as well as forfeited deposits, less proper deductions noted herein, with a written report of receipts and expenses for the month.

2. Agent shall provide cleaning services as outlined in Addendum B. The exception is when the owner has reserved a certain period for himself or designees whereupon the owner will be responsible as outlined in Addendum B.

3. Agent shall provide maintenance and security services as outlined in addendum C.

4. Agent agrees to use best efforts in supervising the property. The agent shall make periodic inspections as may be reasonable, in an effort to prevent damage by occupant, vandalism, or act of God; provided, however, owner agrees that agent shall not be responsible for its failure to discover and/or disclose any loss or damage, agent agrees to forward all available information to owner in order that owner may pursue legal action if he do desires. Agent further agrees to cooperate with owner in that legal action.

ARTICLE IV

RIGHTS OF OWNER

1. The owner shall be entitled to designate certain periods for exclusive use of the property by himself or his designees and may do so upon confirmation of availability with agent. In the event that a confirmed commitment of property by agent is in conflict with the above, the owner agrees to make property available to agent, provided the agent gives prompt notice of conflict.

2. The owner shall have the right to inspect the reservation bookings and utilization records of the above-referred property.

ARTICLE V

DUTIES OF THE OWNER

1. Owner must register with Agent, as per Addendum A, the maximum number of guests he limits his property to accommodate. Each property must be furnished, as outlined in Addendum D, to accommodate this number.

2. Owner shall be responsible for keeping driveways free and clear in reasonable condition and repair. Owner shall also be responsible for general upkeep of the grounds.

3. Owner shall provide smoke alarms and currently charged fire extinguishers as required by Tennessee law.

4. Owner shall supply agent with a current inventory of major appliances, furniture, and important decorative pieces. Owner will permanently mark all washable items.

5. Owner will be responsible for painting, necessary repairs, utilities, taxes, association & property owner fees, mortgage payments, and insurance.

6. Owner or his designees must advise agent of their arrivals and departures. Arrival time is 3:00p.m. or later, and departure is before 11:00 a.m.

7. Owner shall be responsible for the cost of firewood for property and agrees to replace as needed.

ARTICLE VI

INSURANCE

1. Owner agrees to indemnify and hold harmless the agent from any and all claims, actions, and demands arising out of in the carrying out of instructions given by the owner to the agent in connection herewith. Owner further agrees to maintain, at his own expense, fire and extended risk and public liability insurance coverage in amounts of at least $300,000/$300.000.00 per each occurrence, insuring both the owner and the agent to the extent possible and provide evidence to the agent.

2. Owner shall furnish agent with certificate of such insurance on insurance company's standard form or its equivalent, or a copy of the policy. Such policy shall be endorsed as follows:

a. Agent shall be included by specific endorsement as an additional insured. The owner's policy shall be primary and any insurance carried by the agent shall be excess.

b. The obligation to carry insurance as herein provided shall not limit or modify in any way, other obligations of the owner under this agreement.

c. If the owner fails to secure and/or pay premiums for such policy of insurance as required herein, Agent may cancel the agreement immediately, without prior notice.

d. Neither the agent nor the owner shall be liable to the other for loss, either direct or consequential, arising out of damage to or destruction of the property or the contents of the property, when such loss is caused by an act of God, or any of the perils which are or could be included within property insurance. It is the intention and agreement of both parties that the rentals reserved by this agreement have been fixed in contemplation that each party shall look to his respective insurance carriers for reimbursement of any such loss. Neither party shall have interest or claim in the other's insurance policies or the proceeds thereof, unless specifically covered therein as a joint insured.

ADDENDUM A

RATES SCHEDULE AND OCCUPANCY

Maximum number of persons to accommodate: ___________ adults

___________ Children

RENTAL RATES: All rates quoted are for 2 people

High season: Months of October, July, & August; Holidays include but not limited to: New Year's Eve, Valentine’s Day, Easter break, Memorial Day week-end, July 4th, Labor Day, Thanksgiving, Christmas.

Nightly: ________

Weekly: ________

OFF SEASON: December, January, and February.

Nightly: ________

Weekly: ________

ADDITIONAL PERSON CHARGES:

Regular & high season: ________

Off-season: ________

OTHER RESTRICTIONS OR LIMITATIONS:

No pets

No smoking

ADDENDUM B

CLEANING SERVICE AGREEMENT

Agent shall supply, at agent's expense the following:

1. Maid service to include, but not limited to: Changing of beds, cleaning & disinfecting bathroom & indoor spas, vacuuming floors, disinfecting countertops, sinks, &, refrigerators, dusting furniture and removing trash.

2. Maid service shall include supervision of the property and prompt notification of any additional services, repairs, or replacements needed. Any damage occurring because of improper use of property by tenants shall be reported immediately to owner.

3. Linens and/or lined laundry service shall be provided as per requirement of the individual property.

4. Paper products including toilet paper, roll paper towels, trash bags, and waste can liners are supplied by agent. Agent will restock paper cups in bath & kitchen, if supplied by owner.

Cleaning products, laundry soap, dishwasher packets, and individual bath soaps are supplied by agent.

Optional Daily Maid Service:

1. Available to guests and owners at a cost of $________ per day.

2. Please allow 24 hours advance notice for scheduling.

Owners' Maid Service

1. Owners or owners' guests may elect to clean unit upon departure or they may have the agent clean it for them for a charge of $__________.

2. Owner and/or owners' guests please notify office upon departure.

ADDUNDUM C

MAINTENANCE AND SECURITY AGREEMENT

Agent agrees to provide, at Agent's expense, the following services:

1. Monthly inspection of air conditioning filter(s).

2. Monthly plumbing checks for leaks and drips.

3. Will open and close foundation vents in accordance with owners' schedule.

4. Provide exterior maintenance of weed control: Any cutting that can be done with a string trimmer, up to one hour per week. Based on seasonal demands, blowing leaves and gravel maintenance would be included in exterior maintenance.

5. Additional services can be contracted with the grounds maintenance supervisor after a complementary site inspection.

6. Monthly battery check of smoke alarms and visual inspection of fire extinguishers.

1. Request by owner for any inspection by insurance adjusters, building inspectors, or anyone authorized by owner.

2. Maintenance of requested heat levels during freezing temperatures, subject to conditions outlined in Article III, #4.

3. Assistance in providing access to property for repair, pest control, and/or deliverymen.

4. Checks for wind and/or storm damage as dictated by weather conditions.

5. Periodic check for water leakage, subject to conditions outlined on Article III, #4.

6. Weekly exterior inspection for vandalism.

ADDENDUM D

REQUIRED INVENTORY

_________ Master written inventory of furniture, appliances, pictures, linens (if applicable).

__________ Two blankets and 2 sets of linens for each bed and sleeper sofa.

__________ Mattress pads for each bed and sleeper sofa.

__________ Telephone.

__________ Standard pillows for each bed and sofa sleeper.

__________ Color television with basic cable and operating instructions.

__________ Kitchen equipped for cooking and feeding the number of people the property is scheduled to accommodate.

__________ Fireplace tools for every fireplace.

__________ BBQ grill with lid (gas suggested for safety).

__________ Deck furniture.

__________ Smoke detectors as required by Tennessee Law.

SUMMARY

It is expressly understood by the parties that this is a limited property management agreement, and that the agent has assumed only those duties toward the property as are specifically set out herein; no employee of the agent is authorized to vary the terms of this written agreement; and all duties and responsibility toward said property, or the management thereof, not expressly herein assumed by agent shall remain those of the owner. The agent makes no guarantee, warranty, or representation that there will be no losses from such operation of the property. Whenever under any provision of the agreement the approval or consent of either party is required, the decision thereon will not be unreasonably withheld.

WITNESS the signature of the parties, Owner and Agent, this date first written above.

OWNER: AGENT:

_________________________ _________________________