Belgrade Lakes Reservation Center
This Agreement made and entered into by and between Belgrade Lakes Reservation Center, 221 Main St, P.O. Box 132, Belgrade Lakes ME 04918, hereinafter referred to as rental; and
Hereinafter referred to as owner, the legal representative and successors and assigns of the parties hereto.
Whereas, Owner is title holder of the Real Estate described as the following:
hereinafter referred to as the property.
Whereas, Rental desires to be employed by owner and owner desires to employ Rental as exclusive agent to provide rental services to the Property under the terms and conditions hereinafter set forth. Now therefore, in consideration of the mutual covenants contained herein, the parties agree as follows:
- EXCLUSIVE EMPLOYMENT. Owner hereby employs RENTAL and RENTAL hereby accepts such employment under the terms and conditions set forth, as OWNERS exclusive agent to lease and rent the Property;
- The initial term of employment shell be for a period of (1) year commencing January 1 through December This agreement shall automatically be renewed from year to year, unless sooner terminated by the parties in accordance with the terms herein.
- This agreement may be terminated at any time by either party, with or without cause on no less than ninety (90) days written notice; except if said property is available.
- Upon termination, the parties shall account to each other with respect to all incomplete business.
- RENTALS RESPONSIBILITIES. It shall be the responsibility of RENTAL to do the following:
- Prepare and execute all rental agreements on behalf of OWNER, if used;
- Keep and maintain accurate records for the PROPERTY, which shall remain open for inspection by OWNER during normal business hours at the offices of RENTAL;
- Collect all rental income.
- OWNERS RESPONSIBILITIES. It shall be the responsibility of the OWNER to:
- Participate in and fully comply with all requirements of this program;
- OWNER agrees to fully cooperate with RENTAL and do all things necessary and proper under this Agreement in order for Management to carry out its responsibilities as set forth
- INDEMNIFICATION. OWNER shall indemnify RENTAL against, and hold RENTAL harmless from, any liability, damages, costs and expenses (including reasonable attorneys fees and cost), sustained or incurred for injury to person(s) or property in, about, and in connection with the Property except those by reason of RENTALs (i) intentional, malicious failure to comply with its obligations hereunder, (ii) gross negligence, or(iii) willful misconduct.
- ASSIGNMENT. This Agreement may be assigned by either party only with prior written consent of the other party.
- AMENDMENT. This Agreement may not be amended except by an amendment signed by both parties.
- ATTORNEYS FEES AND VENUE. If any action shall be brought to recover any rent/money under this Agreement, or on account of any breach of; or to enforce or interpret any of the provisions of this Agreement, or for the recovery of the demised Premises, the prevailing party shall be entitled to recover from the other party, as part of the prevailing party=s costs, reasonable attorneys fees, the amount of which shall be fixed by the Court and shall be amended as a part of any judgment or decree rendered. Both parties further agree that venue for any such action shall be Augusta, Maine.
- BINDING. All of the terms, rights and obligations <.1ontained in this Agreement shall be binding upon and inure to the benefit of the respective successors and assigns of the parties hereto.
- PAYMENT OF RENTAL INCOME. Payments of rental income, less the 15% commission, will be paid on the fifteenth of each month for the previous month’s rental. Security deposits will be held until registration and final payment has been made and will constitute the rental payment date. Interest will accrue to Rental.
- RENTAL SERVICES - PROGRAM HIGHLIGHTS
- Gross Rental Revenues will be split as follows:
Owner: 85% Rental: 15%
- The Rental Contract is an open year contract automatically renewable in December of each year.
- Participation in the program starts following RENTALS inspection of the home and execution of the Rental Contract.
- The RENTAL team will provide the best in quality service in the following areas:
- Marketing, advertising and reservation services in connection with renting the home.
- All guest registration and rental collection services.
- Owner rental statement, accounting and related services.
- RENTAL STATEMENTS. RENTAL shall render a final rental statement to OWNER of Net Rentals received for the season minus the 15% rental service fee.
- MAINTENANCE, FURNISHINGS AND HOUSEKEEPING. OWNER shall at OWNERS expense, maintain Premises and its contents in good order and repair. RENTAL shall advise of any repair and/or replacement required to keep Premises in good order and repair.
OWNER will provide RENTAL in writing, an inventory of all major furnishings and equipment within thirty (30) days of the execution of this Agreement.
RENTAL shall advise OWNER of the need for periodic refurbishing of Premises, including, but not limited to, painting, carpet replacement and furniture replacement when, in the opinion of RENTAL, this is necessary. Such refurbishing, when authorized by OWNER, shall be at OWNERs expense.
OWNER shall be responsible, at OWNERs expense, for ordinary building maintenance and repair of furniture, appliances and equipment.
OWNER agrees to be financially responsible for housekeeping and trash removal.
- RESERVATIONS. Realizing that a primary objective of the Rental Program is to maintain the good will of guests and OWNER, OWNER agrees to assist the manager in determining OWNERs planned use of the Premises.
OWNER shall provide RENTAL written notice at least forty five (45) days in advance of the dates during which Premises will be unavailable for rental by RENTAL. Changes to the original requested dates can be made with fourteen (14) days written notice as long as the Premises are vacant for the time requested. RENTAL cannot guarantee availability for OWNERs use after that time but requests can be made up to arrival night.
INSPECTION/SECURITY. RENTAL will ask Housekeepers to do regularly scheduled inspections of Premises to ensure that its contents are in order that all appliances, electrical and plumbing systems are in proper working condition.
RENTAL will take reasonable steps (including inspection of unit during occupancy) to ensure that tenants leave the property in the same condition as received, normal wear and tear excepted. A nominal fee may be required for exceptional circumstances which require unusual surveillance and intercession by RENTAL on behalf of OWNER RENTAL should make an effort to advise OWNER, if possible, in such circumstances.
OWNER agrees that RENTAL SHALL NOT be liable for acts, negligence, or any other activities of the tenants; or for any damage to OWNERs property during the period of any rental pursuant to the agreement.
- RATES AND RESTRICTIONS. OWNER agrees to conform with all procedures and requirements of the Rental Program as determined by RENTAL as per this Agreement, including adherence to rates for all rentals.
RENTAL, from time to time, may employ various marketing and packaging techniques to increase rental occupancy.
- PAYMENT OF UTILITIES. Owner shall fully and promptly pay for all heat, power, telephone service and other public utilities of every kind furnished to the Premises throughout the term of this Agreement and all other costs and expenses of this kind in connection with the use, operation, and maintenance of Premises and all activities conducted thereon and RENTAL shall have no responsibility of any kind for the above-mentioned costs or expenses. Exception will be made if Premises are rented on a year-round basis, in which case utilities will be paid by renter. TENANT is responsible for long distance toll charges and will reimburse OWNER for such charges. OWNER shall be responsible for mailing the telephone bill to RENTAL in order that RENTAL may bill TENANT for such toll charges.
- COMMUNICATIONS. OWNER understands that he/she cannot reply on verbal or telephone instructions to RENTAL regarding reservations, maintenance or any other matter whatsoever except when confirmed in writing.
- INSURANCE AND POTENTIAL CLAIMS. RENTAL recommends that OWNER should at OWNERS expense, maintain, in effect throughout the term of this agreement the appropriate property damage liability insurance and personal injury liability insurance for renter, with at least $300,000 each occurrence limit of liability. All policies should be with financially sound and reputable insurers.