Property Management Rental Agreement.

WE SPECIALIZE IN PROFESSIONAL
PROPERTY MANAGEMENT.

PROPERTY MANAGEMENT RENTAL AGREEMENT

Property Name and Address: __________________________________________________________________________________

This agreement is made and entered into this the ______________ day of , 20___________ by and between

Majestic Mountain Getaways Inc., a Georgia corporation (herein after referred to as Majestic Mountain Getaways),

whose address is 1668 Greenbriar Dr Blairsville, Ga 30512 and , __________________________________________________________________________________

(herein after referred to as Owner), whose address is: __________________________________________________________________________________.

1). Management and Property

WHEREAS, Majestic Mountain Getaways is in the business of managing short-term rental properties owned by others and of finding renters for the same. Majestic Mountain Properties does and desires to manage the real property of the Owners (better known as street address

__________________________________________________________________________________)

to provide for vacation rentals and the generation of income from said property. WHEREAS, subject to the terms of this Agreement, Owner desires to engage Majestic Mountain Getaways to provide rental management services for the Property, and Majestic Mountain Getaways desires to accept such engagement.

NOW, THEREFORE, for and in consideration of the mutual promises and covenants contained herein and other good and valuable consideration, the receipt of which is hereby acknowledged, the parties agree as follows:

2). Term

The initial term (“TERM”) of this Agreement is twenty-four (24) months from the effective date set forth above (“Initial Term”). This Agreement shall automatically renew thereafter for additional terms of twelve (12) months each (“Renewal Term”) unless after the expiration of six (6) months of the initial term; provided, however, the six (6) months shall not apply to termination for violation of this agreement, either party shall terminate upon sixty (60) days' advance written notice given by either party to the other at the address hereinafter designated in Paragraph 8D hereof. If there are no future bookings for the Property, this Agreement may be canceled with a written notice at any time. If this Agreement is cancelled prior to the end of the 6 month initial term, a fee of $250 will be due to Majestic Mountain Getaways to cover the initial set up costs. Majestic Mountain Getaways reserves the right to issue addendums to this contract. Any notices required or permitted to be given shall be mailed by certified mail by each party. Upon termination, the Owner will honor all confirmed reservations and the Owner hereby affirms that Majestic Mountain Getaways is relying on the availability of Owner’s property when a reservation is made. All such reservations will survive the termination of the contract, and be subject to the management and service policies of Majestic Mountain Getaways exclusively, and not any other company regardless of whom the Owner has entered into a contract with. Owner shall be obligated to reimburse Majestic Mountain Getaways upon demand, for all costs incurred by Majestic Mountain Getaways to relocate confirmed reservations to a comparable property (or to a higher priced property if Majestic Mountain Getaways deems it necessary - this is likely to occur during peak seasons as the ability to transfer renters to comparable properties is difficult due to high demand), as determined by Majestic Mountain Getaways, plus Majestic Mountain Getaways full commission on all reservations. Owner shall promptly pay Majestic Mountain Getaways all sums otherwise due Majestic Mountain Getaways, including compensation. During each 12 month period, Owner agrees to allow Majestic Mountain Getaways up to 10 days for promotional use for Majestic Mountain Getaways agent familiarization, travel agent familiarization, marketing, promotions, advertising, guest accommodation, unexpected need, etc.

3). Authority

Owner hereby confers to Majestic Mountain Getaways the exclusive right to rent and Manage Property during the term of this Agreement. For such purposes, Majestic Mountain Getaways shall be the authorized agent of Owner and shall bind and obligate Owner by the performance of Majestic Mountain Getaways duties as herein set forth in this Agreement. Neither Owner nor any other person or agent may rent, use, or occupy Property without advance notice given to Majestic Mountain Getaways. Owner, by his execution of this Agreement, warrants and represents that he/she is either the sole owner in fee simple of Property or is an owner of an interest in fee simple title in Property who has been duly authorized by all other owners to bind such owners and Property to the terms and conditions hereof. The liability of all owners in title shall be joint and several.

a). Assignment - Majestic Mountain Getaways may assign this Agreement to another manager or management company at any time during the term of this Agreement and the terms are binding on Owner and on all successors and assigns of agent enforceable to the same extent as though no assignment had occurred.

4). Duties of Manager

Manager shall undertake the following duties with reference to Property and Owner:

A. Rental Duties: - Majestic Mountain Getaways shall use its best efforts to locate tenants, collect income and manage said Property. All decisions concerning the day to day operation of the Property as a rental accommodation shall be made by Majestic Mountain Getaways in its sole discretion, including, but not limited to, decisions regarding rental rates, staffing, marketing, maintenance, housekeeping, reservation policies, and collection of rental proceeds. In addition, Majestic Mountain Getaways shall have the right, in its sole discretion, to charge guests a reservation, transaction, cleaning fee or any other fee relevant to the rental of said Property which amount shall be in addition to the rental rate charged and shall belong exclusively to Majestic Mountain Getaways.

B. Policies and Collections:

I. Manager shall provide rental guests with written notice of reservations. Manager shall set policies and advise Owner and rental guests thereof with respect to reservations, check-in and check-out times, payment, maximum occupancy, and other regulations of and relating to the use and occupancy of Property.

II. Manager may accept payment of rents from guests by cash, personal check, bank drafts or credit cards but in no circumstance will Manager be liable to Owner for failure of a guest to pay rental balances or for dishonored checks, stop payments, credit card reversals, forgeries or any other similar event which results in non-payment. Manager will use good faith efforts to investigate the credit and tenant worthiness for any occupancy intended to exceed sixty (60) days.

III. In the event Owner should determine that it wishes to undertake collection efforts for non-payment including but not limited to collection litigation, it shall do so at its own cost and expense; however, Manager will assist Owner and any attorney or other representative which Owner selects by providing information and materials indicating the dates of occupancy, confirmed reservations, rental rates, and other written and factual information in the possession of Manager that will assist in such collection efforts.

C. Inspections and Maintenance:

I. Manager shall periodically inspect the Property. Whenever possible all inspections will be recorded on Owner's account. The failure of Manager to so inspect, or, during inspection, to detect any defect or adverse condition, including but not limited to conditions affecting the integrity or safety of any structure upon Property or factors which may affect the rent ability of Property, shall cause no liability whatsoever to Manager. It is expressly understood that Manager shall use best efforts and due care in inspecting the Property.

II. Owner hereby authorizes Manager to perform or cause to be performed routine maintenance and repair work at Property (at Owner's expense) provided that the total of such maintenance and repairs may not exceed the sum of Two Hundred Fifty dollars ($250.00) per repair without the advance oral or written consent of Owner. It is expressly understood that manager shall use good judgment and discretion in the undertaking of such repairs or maintenance.

III. Should Manager discover any condition in the Property which requires immediate repair, replacement, construction or action in order to prevent an unsafe condition, damage to the structures or adjacent areas, including common areas, loss of habitability or factors likely to result in sustained loss of rental income (herein "emergency repair"), Manager may proceed with the emergency repair without advance consent of Owner and Owner shall be fully responsible for the payment of all costs related thereto and the dollar limitations above described in Subparagraph II. shall not apply. It is expressly understood that Manager shall use best efforts to contact Owner and inform Owner of the condition of the Property in case of an emergency.

IV. If requested by Owner, Manager shall assist Owner in the preparation of any insurance claims for damages to Owner's property. Such assistance shall be limited to the provision of repair invoices and copies of reservations canceled due to conditions at Property.

V. Regardless of the nature of the repair, maintenance, replacement or construction work undertaken by Manager, Owner shall be solely and exclusively responsible for all costs and charges in connection therewith and whether incurred directly by Owner or Manager on Owner's behalf. Owner shall be estopped to contest the nature of the work undertaken, the cost there and Manager's authority to bind Owner in connection there with. If Manager or any of its employees or representatives undertakes repairs, Owner shall reimburse Manager for costs thereof including labor and materials and such obligation shall be separate and distinct from the compensation due and owing under Paragraph 6.

D. Cleaning: Provided that Owner is current in all payments due Manager, Manager shall, from its compensation under Paragraph 6 or from cleaning fees collected from tenants, pay for departure cleaning at Property after any Selective generated paid occupancy, including but not limited to laundry for towels and linens, excluding bedspreads. Manager shall not be obligated to pay for maid service under any circumstance or to pay for departure cleaning herein indicated for any use or occupancy by Owner or for Owner's guests at the premises for which full rentals are not paid directly to Manager. After each rental, Majestic Mountain Getaways will arrange for the Property to be cleaned at no charge to the Owner except as outlined in 5E reference to Owner use.

D. Deep Cleaning: The Property is required to be cleaned thoroughly (deep clean) a minimum of once each year. Majestic Mountain Getaways or the Owner may perform this. Majestic Mountain Getaways will contact the Owner to advise of cost for this cleaning prior to service being performed. If Owner elects to handle deep cleaning, it must be done to Majestic Mountain Getaways specifications and completed by April 1st of each year. If not, Majestic Mountain Getaways will correct and charge the Owner accordingly. Deep cleaning each year is mandatory! Deep Clean - The cost to deep clean your home (typically equals 4.5 times the normal cost of a standard cleaning. (Estimated Cost for deep cleaning will be between $ _________ - $_________).

E. Pest Control - All properties are required to have pest control, which will be provided by Majestic Mountain Getaways at a rate of $______ bimonthly. This rate will include general pest control and all complaint calls between services during normal business hours.

G. Restricted Phone Line: Owner shall install a restricted phone line. The cost of the equipment or the cost of the installation of the restricted line, as well as the maintenance of a conventional, touch-tone line with the local phone company shall be the responsibility of the Owner. The restricted phone service will allow guests to make local calls only at no charge, this allows convenience in obtaining local information and access for emergency services.

H. Satellite/Cable Service: Owner shall provide local channels via satellite or cable TV service. The cost of the equipment, replacement and/or maintenance of said equipment shall be the responsibility of the Owner. It is the responsibility of the Owner to arrange for blocking of access to pay per view channels or any other movie channels. Majestic Mountain Getaways is not responsible for any pay per view program charges incurred by guest and said charges will be

the responsibility of the Owner if the necessary blocks were not set up prior to the property being available for rental.

5. Owner's Duties

A. Minimum Inventory: Owner shall be required to purchase and maintain a minimum inventory of goods and accessories as specifically described in Exhibit 1 hereto. Such items shall be procured and paid for by the Owner. Owner is notified that one full set of all linens and towels may be kept offsite and laundered offsite. Owner agrees to provide a key lockbox at property with a full set of keys to the property. Property must be fully stocked with Exhibit 1 inventory prior to any rental of Property. Manager will, at Owners expense, procure replacements, said replacements not necessarily a match but similar in quality and type), for lost, stolen or broken items for the following items only:

I. Dishes, silverware, glassware, utensils;

II. Potholders, place mats, salt and pepper shakers;

III. Light Bulbs, hangers;

B. Linens, Soaps and Paper Goods: For any paid booking, obtained by Majestic Mountain Getaways, Manager shall also supply at Manager's expense the following items:

I. Bath, dishwasher and liquid soaps;

II. Toilet tissue and paper towels;

III. Trash can liners.

Notwithstanding the foregoing, Manager shall not be required to bear the cost of replacement for any items not designated herein, i.e. major appliances, stereo, vcr, microwave, barbecue, etc. In such event Owner shall be required to bear the cost of replacement.

C. Maintenance:

Owner shall deliver the Property in excellent condition and shall, during the term of this Agreement, comply, at Owner's expense, with all reasonable requests of Manager in connection with the provision of furnishings, appliances, accessories, amenities, and preventive maintenance. At a minimum, Owner hereby agrees to do the following:

I. Steam clean carpets and rugs on an as needed basis.

II. Clean all windows and blinds on an as needed basis.

III. Caulk all sinks and bathtubs as needed.

IV. Insulate all exposed water pipes.

V. Remove pine needles and clean up the yard, roof & gutters on an as needed basis.

VI. Paint or stain the interior and exterior of the property as needed.

VII. General deep-clean once yearly.

VIII. Service of fire extinguisher.

IX. Clean chimneys.

X. Change locks or re-key the property on an as needed basis.

Owner agrees to locate, inform Manager in writing and to make accessible the water main shut off, Gas Shut off (if applicable) and the electric panel box.

D. Insurance:

Owner shall, at all times during the terms of this Agreement, maintain and pay for a public liability and property damage insurance (Vacation Rental Policy) with a single combined liability limit of not less than $1,000,000 and property damage limits of no less than $200,000 insuring against all liability arising out of and in connection with the rentals, occupancy and activity contemplated by this Agreement. Owner shall cause Manager to be listed as a co-insured under said policy and shall provide Manager with proof of such status within thirty (30) days of the execution of this Agreement and in any event before any rental or occupancy occurs pursuant to the terms hereof. Such policies shall contain an endorsement, which provides that Manager shall receive not less than ten (10) days' advance written notice of any modification or cancellation of such policy.

E. Owner's occupancy of Property:

Owner acknowledges and agrees that they shall not have the right to occupy the Property without first making a reservation with Majestic Mountain Getaways. Further, Owner shall not be entitled to make a reservation to occupy the Property during any time for which Majestic Mountain Getaways has already issued a confirmed reservation to a rental guest. No commission will be due to Majestic Mountain Getaways for an Owner’s use or an Owner’s guest use provided the guest is not paying the owner for use. If Majestic Mountain Getaways approves a reduced rental rate at the Owner’s request, Majestic Mountain Getaways will collect the commission based on the full rental rate in effect for the Property. Any maintenance visits required on Owner or Owner’s guest reservations will result in a charge to the Owner. Owners and Owner’s guests shall be subject to the same check-in and checkout times and procedures as other guests who rent the Property from Majestic Mountain Getaways. All Owner and Owner Guest reservations will require a signed confirmation of the reservation and cancellation of any reservation will need to be forwarded, in writing, via mail, email or fax. If Majestic Mountain Getaways does not have a signed confirmation on file and a paying guest reserves the property, the guest reservation will stand and Majestic Mountain Getaways will not be held liable for the Owners reservation. Owner may elect to clean the property themselves after their personal use. In that case, no

cleaning fee will be due to Majestic Mountain Getaways unless the Property has a hot tub, which will be serviced, by Majestic Mountain Getaways and a fee of $25.00-$45.00 charged to the Owner as applicable. If Owner desires Majestic Mountain Getaways to clean the Property after an Owner visit, a cleaning fee of $________ which is based on the size of the home will apply in addition to the hot tub fee if applicable. (Majestic Mountain Getaways will always clean should Owner fail to inform Manager of Owner's occupancy of Property, and should Manager obtain a rental for the Property which could not be accommodated as a result of Owner's occupancy, then Owner shall be responsible for any and all costs associated with that rental, including but not limited to rental commissions).

6. Compensation to Manager

A. Commissions:

As and for payment for Manager's services hereunder, Owner shall pay to Manager an amount equal to Thirty (30%) percent of all gross rental proceeds generated from the Property.

B. Service Fees:

I. All properties equipped with a hot tub will be subject to an additional $50 per month fee which covers chemicals for the hot tub, trash collection, and extra services that Majestic Mountain Getaways provides such as replacement of batteries in remotes and smoke alarms (AAA, AA and 9 volt only), laundering linens, comforters and throw rugs that do not require special care such as dry cleaning, changing out air filters for air conditioners that are accessible from interior of Property and require no additional tools and/or ladders to change (owner supplies filters) and general management during times of vacancy. This fee will be deducted each month without exception.

II. Properties without a hot tub will be subject to a fee of $25 per month to cover services noted above with the exception of hot tub chemicals. This will be deducted or billed each month without exception.

III. Owner agrees to a one time set up fee of $65 that will be charged / billed to Owner as an Owners Expense for Lockbox key and Linen / Towel Inventory Container, and set up provided by Majestic Mountain Getaways.

C. Payments to Manager:

It is specifically understood that the compensation herein provided shall be paid on the full amounts of sums paid. Owner shall promptly pay to Manager all compensation due Manager and any other costs, fees, expenses, and charges for which Owner is responsible within ten (10) days of submission of an invoice thereof. In addition, and without the necessity of advance invoicing Manager may deduct from gross rentals all such compensation and fees, costs, expenses and charges. As and for security for payment of Owner's obligations to manager under this Agreement, Owner hereby grants to manager a security interest in all rents, rental contracts and accounts receivable related thereto, and related to Property. In all cases, the security herein granted shall survive the termination

of this Agreement and shall continue until all sums due Manager for compensation and other fees, costs, expenses and charges, including fees and charges for maintenance and repair, payment of utility bills, mortgage payments, tax payments, homeowner dues, home improvements, remodels, appliances, and furnishings have been paid in full.

7 .Limited Liability and Indemnification

A. Owner acknowledges and agrees that Manager is not guaranteeing any specific number days of occupancy, any rental income or rental rate, although Manager will use good faith efforts to secure competitive occupancies and rates.

B. Owner to allow Manager / Majestic Mountain Getaways up to 10 days rental useage for promotional use including but not limited to: Majestic Mountain Getaway agent familiarization, travel agent familiarization, marketing, promotions, advertising, guest accommodation, unexpected need, etc.

C. Majestic Mountain Getaways Reservationists have the authority to discount rates up to 15% based on demand in order to maximize rentals for property owners. Manager may also offer repeat and referral program / discounts up to 15% and free night promotions to maximize rentals for property owners

D. Owner hereby indemnifies and holds Manager harmless from any and all costs, damage, claims, expense, liability, attorneys' fees and any obligation whatsoever, and whether incurred or suffered by Owner or other persons using, occupying or working at Property, including but not limited to claims, damages or obligations related to emergency or other repair and maintenance, loss of personal property by theft, including personal property of the Owner or guests, invitees, and renters and injury to Property, personal property or person from any cause whatsoever.

8. Miscellaneous

A. This Agreement shall be construed in accordance with and governed by the laws of the State of Georgia.

B. Should any litigation be commenced between the parties hereto or their personal representatives concerning any provision of this Agreement or the rights and duties of any person in relation thereto, the party or parties prevailing in such litigation shall be entitled, in addition to such other relief as may be granted (including costs), to a reasonable sum as and for attorneys' fees in such litigation.

C. Owner may not, voluntarily or involuntarily, assign or transfer all or any interest in this Agreement to any other person without the prior written consent of Manager. Except as herein provided this Agreement shall be binding upon and inure to the benefit of the parties' respective successors and assigns.

D. Should Owner choose to market this property for sale at any time, Owner agrees to allow Majestic Mountain & Lake Properties, Inc the opportunity to either Purchase or List for purchase and market to buyers for a minimum of 6 months at the current standard rate of Real Estate commission

E. All notices, requests, demands, and other communications under this Agreement shall be in writing and shall be deemed to have been duly given on the date of service if served personally on the party to whom notice is to be given or on the seventh (7th.) day after mailing if mailed to the party to whom notice is to be given by first class mail, registered or certified, postage prepaid, and properly addressed as follows:

9. Special Instructions / Notations

Manager: Majestic Mountain Getaways, Inc.,

1668 Greenbriar Dr Blairsville, GA 30512

Owner: ______________________________________________________________________

Property Owner: ____________________________ SS# __________________________

____________________________ (printed name)

Property Owner: ____________________________ SS# __________________________

____________________________ (printed name)

Manager: Majestic Mountain Getaways, Inc.,

1668 Greenbriar Dr Blairsville, GA 30512

By: _____________________________________

_____________________________________ (printed name)

Representative of Majestic Mountain Getaways, Inc.

OWNER INFORMATION

Owner______________________________Property_____________________

Mailing Address ________________________________________________

________________________________________________

SSN ________________________________________________

Home Phone ________________________________________________

Business Phone ________________________________________________

Fax ________________________________________________

Email Address ________________________________________________

Cell Phone ________________________________________________

Pager ________________________________________________

Emergency Contact Name _________________________________________

Emergency Contact # _________________________________________

Power Provider _____________________ Phone #___________________