NOTE: It is Owner’s sole responsibility to cancel its Home Week reservation with HGVC after cancelling Rental Agreement with VRM in order to keep associated points. Owner acknowledges that it is a violation of this Agreement to modify, in any way, its Home Week reservation with HGVC PRIOR to obtaining written (emailed) confirmation of the Termination of this Agreement. SUCH VIOLATION MAY BE SUBJECT TO MONITARY DAMAGES. *Required By checking this box you acknowledge that you have read and understand this. 14. NOTIFICATION OF NON-RENTAL. To allow Owner an opportunity to save the points related to their Home Week, VRM will provide e-mail notification of rental status 40 days prior to check-in and again nine (9) days prior to check-in, however it’s the Owner’s responsibility to cancel this Agreement. 15. TAXES. All VRM resorts are located within a governmental jurisdiction that imposes a tax, based on any rental revenues, and such tax shall be collected from the renter by VRM and submitted to the applicable entity. This Agreement will not be accepted unless a social security number is provided. Owner‘s social security number is required for tax purposes. If Owner’s income exceeds an IRS specified amount, VRM is required to report it as income. 16. LOSS OF RENTAL RIGHTS. In the event Owner shall become delinquent in the payment of any money owed to the Association prior to the rental dates and such delinquency shall remain unpaid as of the first day of the rental period, Owner shall lose the right to any rental income generated, which rental income shall be deposited into the Association's operating account, less the Administrative Fee paid to VRM. Under these circumstances, neither VRM nor the Association shall have any obligation to apply any portion of the rental income to Owner's delinquent account. 17. Rental of Home Week Only. In accordance with HGVC Club Rules, VRM can only accept Owner’s Home Weeks for rental. A Home Week is defined by HGVC as a full week (seven consecutive nights) reservation at the resort in which a Member has an ownership interest in the season and unit type owned, checking in on the resort’s standard check-in day. If an Owner owns a floating Home Week, they must book a Home Week Reservation prior to submitting this Agreement. 18. PROPER AUTHORITY. Owner warrants that it possesses the requisite power and authority to enter into and perform its obligations under this Agreement on behalf of all persons in title of Owner's VOI. If Owner owns multiple VOIs, Owner must execute and submit a separate Rental Agreement for each VOI. 19. ATTORNEYS’ FEES. The losing party in any controversy in connection with this Agreement shall reimburse the prevailing party for all reasonable attorneys’ fees and costs incurred by the prevailing party in its successful enforcement of this Agreement. 20. GOVERNING LAW. The interpretation and enforcement of this Agreement will be governed by the laws of the State of Colorado without regard to any conflicts of law principles thereof.
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*Required By checking this box, the above named Owner hereby confirms his/her agreement to the terms and conditions contained in this Rental Agreement and confirms his/her agreement to be bound by the terms hereof.