Section 1. RESERVATIONS

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1 Page 1 of 15 Stardust Vacation Club 4061 Lake Tahoe Blvd South Lake Tahoe, CA (530) The following guidelines have been created to maximize Member Benefits. Stardust Rules and Regulations () Section 1. RESERVATIONS It is YOUR RESPONSIBILITY to keep your current phone, and mailing address information on file with us so that communication regarding your reservation(s) can be completed. Member Weeks run from Sunday to Sunday. For each timeshare interval that you own, you may request occupancy reservations, beginning with a Sunday Check-In Date, for a maximum of seven (7) consecutive nights, in the Season and Unit Type that you own. You may also choose to split your week in a given year, but ONLY AT THE STARDUST. For example, you can come to the Stardust for three (3) consecutive days using the first part of your split week and then for four (4) consecutive days at another time (in the SAME USE YEAR and in the same season that you own) using the second part of your split week. This is called a Split Member Week Reservation. One of your Split Member Week reservation parts must begin on a Sunday, concurrent with the Member Week Sunday Check-In Date, and the other part of your Split Member Week must end on a Sunday, concurrent with the Member Week Sunday Check-Out date. Both parts of your split week must be used within the same year, and you may not carry any time over into the next year. Fixed Week Owners cannot split their Fixed Member Week. Using a split week back to back (ie Check-In Thu-Sun, then Sun-Thu) or concurrently is prohibited. Member Weeks and Split Member Weeks float within High or Swing Season, with the exception of the Fixed Christmas and New Year s weeks. Our Use Week Calendar shows all available reservation weeks divided into Season by Sunday Check-In date so that you may choose your preferred travel time(s) accordingly. The Use Week Calendar is available on our website or you can call our offices and we will have a Calendar mailed to you. Our Reservations Department is open 9am 4pm Monday through Friday and closed weekends and all major Holidays. All written reservation requests received when the Reservations Department is closed will be processed beginning the next business day in accordance with the rules stated herein. 1

2 Page 2 of 15 Reservation requests are processed on a First-Come, First-Served basis with the following exceptions: 1.) Requests for Unit Types of limited quantities and/or during High Demand Weeks (which will be processed by Lottery as detailed in Section 1.a (2) Lottery Reservation Processing) 2.) Christmas and New Year s Fixed Weeks which are the same every year All CHANGES to Confirmed reservation(s) are subsequently subject to availability based on the First-Come First-Served guidelines, regardless of the date on which the original reservation was made. You may CANCEL your Confirmed reservation(s) by giving Written Notice to the Stardust Reservation Department at least fourteen (14) days prior to the confirmed Check-In Date. The Stardust will make every effort, but cannot guarantee that you will be able to reserve another week in that same year. A request for a different reservation date is subject to availability based on the First- Come First-Served guidelines, regardless of the date on which the original reservation was made. If you fail to cancel your reservation at least fourteen (14) days prior to check-in time, you shall be considered to have used your entire week for that year. Remember, you may not accrue or carry over unused time from one year to another (except through an exchange company). If you do not check-in on the Check-In Date of your confirmed reservation, your reservation will be cancelled. If you are unable to meet your scheduled check-in time, please call the Front Desk, (530) , and advise them of your estimated arrival time and/or day to hold your unit. Your reservation request will not be CONFIRMED, nor will occupancy of an assigned unit be permitted, and existing reservations may be cancelled if you are delinquent in the payment of any amount owed to the Association, or if your use rights have been suspended by the Board for any reason. Please Note: RCI s and Interval International s request and cancellation policies are different than ours. If you are a member of RCI or Interval International and you intend to exchange your week(s) through either RCI or Interval International, please consult their Directory and membership materials for the trading rules which govern reservation exchange requests. 2

3 Page 3 of 15 Section 1.a FIRST REQUEST DAY (Two (2) Years Out) Only WRITTEN Reservation Requests are accepted on the First Request Day. The earliest you can book a Member Week or Split Member Week is exactly two (2) years in advance, matching the numbered day of the Sunday Check-In Date the First Request Day. Example: If you want to come to your Resort two years out from the Sunday Check-In Date of Sunday, May 15, 2016 you may submit a WRITTEN REQUEST on the First Request Day of May 15, 2014 no matter on which day of the week May 15th falls. Reservation requests (WITH current name, address, phone, and contact information) SUBMITTED IN WRITING and received by , fax or delivery between 12:00am and 11:59pm (midnight to midnight) on the First Request Day, are considered qualified First Request Day reservation requests. Late deliveries, written requests with incomplete contact information, and verbal requests will not be considered qualified First Request Day reservation requests. Please Note: If you have strong travel preferences, we suggest that you request a reservation on the First Request Day in order to maximize your opportunity to receive your request. Notices of the First Request Days will be posted on our website, with weekly notices posted both on our websites and at our Front Desks for your reference. The latest you can book a Member Week or Split Member Week reservation, is 14 days prior to the Sunday Check-In Date of your request. Example: If you want to come to the Resort on the Sunday Check-In date of May 15 th, the latest, you can submit a request from 12:00am to 11:59 pm (midnight to midnight) on May 1 st. Very rarely can last minute requests for High Season be fulfilled with last minute notice. Please see further details in the First-Come, First-Served Reservations Processing section on pg. 4). AFTER the First Request Day, reservation requests may also be submitted verbally, by phone or in-person. A verbal request is defined as an Owner SPEAKING with our Reservationist to request a reservation. Messages left on the Reservations Dept. phone line or with a different staff member are considered call back requests NOT Reservation Requests. We return all phone calls within one business day of receipt of message. Here is the complete list of contact information for reservation requests: Written Requests Required ON the FIRST Request Day 3 Written OR Verbal Requests Any Day AFTER the FIRST Request Day res@stardust-tahoe.com res@stardust-tahoe.com Fax: Fax: Mail or Other Delivery: In-Person, Mail or Other Delivery: Stardust Vacation Club Stardust Vacation Club 4061 Lake Tahoe Blvd Lake Tahoe Blvd. South Lake Tahoe, CA South Lake Tahoe, CA Phone:

4 Page 4 of 15 Section 1.a (1) FIRST-COME, FIRST-SERVED Reservations Processing All Weeks of the Year EXCEPT for the HIGH DEMAND WEEKS of: President s Week, 4 th of July, Celebrity Golf Week and Hot August Nights See the Lottery Reservations Processing section on the next page for more details. For the following Unit Types: Astro Comet Galaxy Satellite Stardust Starlite Sun Reserving a first-come, first-served floating timeshare week in a given season is like attending an event with a general admission ticket; there are enough seats for everyone, but the first people to arrive will get the prime up-front seats. In the same way, the first people who request reservations for a given Sunday Check-In Date have the best chance of getting their reservation request filled. The more detailed you are about your travel dates, the more pro-active we advise you to be in making reservations on the First Request Day. Reservation requests are only requests until you receive a written Reservation Confirmation. Reservation Confirmations will be sent immediately by , if a valid address is on file, and, in the absence of a valid address, will be mailed to the address on file within ten (10) days. If a second-choice reservation request date was not provided, and the first-choice reservation date is not available, you will be contacted to provide an alternate reservation request. It is your responsibility to review your information on the Reservation Confirmation IMMEDIATELY upon receipt as the Confirmation is considered FINAL. If you do not receive a Reservation Confirmation within fourteen (14) days of submitting a reservation request, CALL THE RESORT IMMEDIATELY. Without a Confirmed Reservation you will not know that your reservation has been made. If you are a Fixed Week Member (i.e. Christmas or New Years), Confirmation of your fixedweek reservation will be automatically sent out two (2) years in advance. 4

5 Page 5 of 15 Section 1.a (2) LOTTERY Reservations Processing First Request Day EVERY WEEK OF THE YEAR For the following Unit Types: Penthouse VIP Moongate Solar First Request Day on the HIGH DEMAND Weeks of: President s Day Week, 4 th of July Week, Celebrity Golf Week, Hot August Nights Week(s) For the following Unit Types: Astro Comet Galaxy Satellite Stardust Starlite Sun Lotteries will be conducted as follows: a) At 1:00pm on the First BUSINESS Day following the First Request Day, all qualified reservation requests will be placed into a Lottery with no one request having an advantage over any other. o A qualified reservation request is any WRITTEN reservation request that has been received between 12:00am and 11:59pm (midnight midnight) on the First Request Day containing: Owner name Current Address Phone, Address and/or Fax No. Interval Number or Contract Number (CRITICAL if a multiple-week owner) Check-In Date being requested b) An unbiased Owner staying at the Stardust (one who is NOT requesting a reservation in the time period being drawn) will pull from all the qualified reservation requests. Reservations will be CONFIRMED in the order of reservations pulled, and this information will be recorded and kept on file for two years. c) The Owners(s) whose reservation(s) have been CONFIRMED will be notified by phone and subsequently sent a written Confirmation. All other Owners will be notified by or phone so that they have time to submit another WRITTEN reservation request for a different Check-In Date. Reservation requests are only requests until you receive a written Reservation Confirmation. Reservation Confirmations will be sent immediately by (if a valid address is on file) and, in the absence of a valid address, will be mailed to the address on file within TEN (10) days. It is your responsibility to review the information on the Reservation Confirmation IMMEDIATELY upon receipt as the Confirmation is considered FINAL. If you do not receive a Reservation Confirmation within fourteen (14) days of submitting a reservation request CALL THE RESORT IMMEDIATELY. Without a Confirmed Reservation you will not know that your reservation has been made. 5

6 Page 6 of 15 Section 1.a (3) Mountain Modern Unit Requests Special Note: Requests for Mountain Modern renovated Units As of June 20, 2010, there will be AT LEAST ONE Mountain Modern Renovated unit complete for each Unit Type.* More Owners have access to the newly renovated units than ever before AND, even More Owners will have access as we continue on with our phased remodeling. It has been determined that our standard First-Come, First-Served method of Reservation Requests is the most fair system to use for assigning Mountain Modern Units to EXISTING Confirmed Reservations, and for all future reservations. For all EXISTING RESERVATIONS, whether or not a Mountain Modern preference was specifically requested when the Reservation was created, the following procedure will be followed to determine assignment into the available Mountain Modern renovated units. On the FRIDAY BEFORE each Sunday Check-In Date: the Mountain Modern room assignments will be made within each Unit Type o in Reservation Created Date Order o for the number of Renovated Units available at that specific Sunday Check- In Date This same assignment method will be used to ensure that as more reservations are being made, and more Mountain Modern renovations are being completed the Owners who make reservations EARLIEST will be given the first available Mountain Modern Units. Your Member Week and Split Member Week reservations will be assigned Mountain Modern Renovations before any other reservation type including: Bonus Time, Private Reserve Bonus Time and Rental Reservations. 6

7 Page 7 of 15 Section 2. BONUS TIME USE (Unused Owner Time available for low-cost occupancy to other owners) If Owner Member Weeks or Split Member Weeks go UNUSED or if Owners LEAVE EARLY from their member weeks, the unused Owner Time is made available to other Owners as BONUS TIME. Bonus Time availability varies day by day and even throughout a given day, based upon when it becomes clear that unused Owner Time is available. Owner(s) may designate two (2) people, per each timeshare interval owned, as BONUS TIME USERS. The Owner(s) may designate themselves OR other friends or family members as Bonus Time Users. ONLY Bonus Time Users can check-in at the Resort for a Bonus Time stay. The Bonus Time Users will be subject to all the Rules and Regulations in place at the Resort and the Owner(s) will be responsible for any and all unit and/or property damages caused by the designated Bonus Time Users. Bonus Time Users can call 11 days from your desired Check-In-Date to see if there is any Unused Owner Time to be used as a Bonus Time stay. If available, a Bonus Time reservation request will be CONFIRMED immediately. There is no Wait List for Bonus Time reservation requests. If there is no Bonus Time available at the time of the first call, we encourage subsequent calls to see if Owner Time becomes available for Bonus Time use. Bonus Time Users will be charged a daily rental rate for Bonus Time in accordance with the current rate schedule adopted by the Board of Directors. The Association will deposit all revenues generated from Bonus Time into its general account to help defray the maid and unit costs for the use of Bonus Time. An advance deposit for the first night of a Bonus Time stay will be charged at the time the Bonus Time reservation is Confirmed. If the Bonus Time reservation is not cancelled PRIOR to the Check-In Date, the advance deposit will NOT BE REFUNDED. If the Bonus Time User does not check-in on the Check-In Date, the Bonus Time reservation will be cancelled and the deposit will NOT BE REFUNDED. As a general rule, we have unused Owner Time become available for Bonus Time at almost all times of the year except for Holiday weeks and July and August weekends (which are almost always fully used by Owners). Please Note: The Vacancy sign DOES NOT MEAN that there is Bonus Time available. Owners USE their time at the Resort either by occupying their Units themselves OR renting out their Units. When the Stardust sign indicates Vacancy it s because Owners are using their Owner Time for rentals. However, if no Bonus Time is available, you have the choice to reserve another Owner s rental room(s) at a discounted rate. You may reserve any unit type available for Bonus Time EXCEPT for the Penthouse, Moongate and VIP Unit Types which are only available to the Bonus Time Users designated by the Owners of those Unit Types. 7

8 Page 8 of 15 Section 2.a PRIVATE RESERVE BONUS TIME (Unused Owner Time at the Americana available for low-cost occupancy to Stardust Bonus Time Users) The Stardust Vacation Club and Americana Vacation Club are Sister Resorts. If Bonus Time is not available at your Home Resort, you have an opportunity to use available Bonus Time at your Sister-Resort. You simply call the Americana, no earlier than 11 days in advance of your desired Check-In Date, and identify yourself as a Bonus Time User at the Stardust. Once your Bonus Time User designation is verified, you have access to reserve the Unused Owner Time at your Sister Resort s Bonus Time rates. Section 3. GUESTS You may permit another person to occupy your unit during your Member Week(s) without charge by the Association. You may invite others to share occupancy of your unit, provided that the maximum allowable occupancy limit for the unit is not exceeded. You may not permit another person to occupy your unit reserved for Bonus Time unless you are present during such Use Period. The Manager will not give access to any unit to such user without permission from the Member in whose name there is a confirmed reservation. If you intend that a person other than yourself is to use your week(s) or to accompany you during your stay, you must inform the Resort Manager prior to the first day of your stay. Please indicate the name, address, and phone number of such person(s). When checking in, your guest will be asked to show proof of identification, sign a registration card, and provide a credit card. You may permit persons under eighteen (18) years of age to occupy your use week unit under the circumstances that he/she/they are accompanied by you or a guest twentyone (21) years of age or older. Your guest will be subject to all the Rules and Regulations in place at the Resort and you will be responsible for any and all unit and/or property damages caused by your guest(s). Section 4. CHECK-IN AND CHECK-OUT Use weeks at the Stardust run from Sunday-Sunday. Check-in time is 4:00pm PST and check-out time is 11:00am PST. Early Check-Ins and Late Check-Outs are not routinely available, and since Late Check-Outs negatively impact clean room availability for Check-Ins, a Late Check-Out fee will be charged. All Members, exchanges and rental guests will be required to sign a registration card and provide valid identification and credit card (or $250 cash deposit). An inventory list will be available in your room for your approval. In the event any items become damaged, unusable or missing from your assigned accommodations, please report such occurrence immediately to the Front Desk so that a replacement can be made. When you or your guests check-out, any damage or loss not indicated on your inventory list will be charged or billed directly to you. Section 5. PARKING We allow parking for one (1) vehicle per unit, however, we do not have parking for boats, trailers, RV s, or extra guest cars. There is additional parking available in the casino garages and there are several marinas in town that provide moorings for rent. 8

9 Page 9 of 15 Section 6. MAXIMUM OCCUPANCY The Maximum overnight occupancy of the various unit types is as follows: Unit Type A Satellite -Maximum Occupancy 3; Privacy 2 Persons Unit Type B Galaxy -Maximum Occupancy 4; Privacy 2 Persons Unit Type C Starlite -Maximum Occupancy 4; Privacy 2 Persons Unit Type D Moongate -Maximum Occupancy 6; Privacy 4 Persons Unit Type E Stardust -Maximum Occupancy 6; Privacy 4 Persons Unit Type F Penthouse -Maximum Occupancy 8; Privacy 6 Persons Unit Type G Astro -Maximum Occupancy 4; Privacy 2 Persons Unit Type H Comet -Maximum Occupancy 4; Privacy 2 Persons Unit Type I Sun -Maximum Occupancy 3; Privacy 2 Persons Unit Type J V.I.P. -Maximum Occupancy 6; Privacy 4 Persons Unit Type K Solar -Maximum Occupancy 4; Privacy 2 Persons Section 7. PROJECT PERSONNEL The Managing Agent has employed personnel who are responsible for all duties necessary to make your stay at the Stardust pleasant and comfortable. All employees at the Resort are under the sole direction of the Managing Agent, and during working hours, shall not be diverted to the employment of any Member. Complaints regarding the Resort or concerning any employee at the Resort must be made in writing and directed to the General Manager. Member requests for special services or other accommodations must be directed to the Resort Manager or the person in charge at the Front Desk at the time. All interactions between Members, Guests and employees shall be respectful and professional at all times. Actions by Members such as expressing insult, being disruptive, yelling, bullying, and harassment is not appropriate conduct, will not be tolerated and is in violation of these Rules and Regulations and grounds for suspension. Constructive comments are always welcome. Section 8. PERSONAL ITEMS/STORAGE Each Member is responsible for their personal items brought into the Resort. Personal belongings shall not be stored on the premises other than in your assigned unit. Neither the Managing Agent nor the Association are responsible for any personal items left by you or your guest(s) at check-out; however, items left, if found, will be placed aside, or forwarded to you (at your expense) by making arrangements with the Resort Manager and/or Front Desk personnel. Lost and found items are only kept for thirty (30) days. Section 9. CARE OF INTERIOR FURNISHINGS AND EQUIPMENT Whether you or your tenants use your assigned accommodation, you, as a Member are responsible for any missing or damaged items to the accommodations and its furnishings other than normal wear and tear during your week(s). Any charges for damages or loss will be added to your bill at cost plus a ten-percent (10%) service charge at check out time, or will be billed directly to you. Non-payment of such a charge will be cause for suspension of use privileges until such charge has been paid. You should report ANY Unit or Property damage or deterioration to the Resort Manager, so it can be immediately corrected. You and your guest shall be responsible for removing your personal property from your assigned accommodation at check out time. 9

10 Page 10 of 15 Section 10. BUILDING MODIFICATIONS No structural changes, reorganization or removal of furniture, wall hangings, or floor covings or redecorating of any type within the assigned accommodations or other areas of the Resort shall be permitted to be made by any Member. Section 11. PASS KEY The Manager has a pass-key to all units. In case of emergency, the Manager or his employees may enter your unit, and if you are unaware of the entry, shall notify you as soon as it is reasonably possible. Section 12. MAID SERVICE Full maid services are provided three times weekly. However, you may obtain clean towels in between cleanings by contacting the Front Desk. Members are responsible for all other housekeeping, which they may require during their week(s). The five hour period between check out time and check in time is reserved exclusively for the cleaning, inventory, repair and maintenance of the unit by the housekeeping and maintenance personnel. This service is part of the maintenance responsibility of the Managing Agent, the costs of which are covered by your annual Maintenance Fee. Please Note: The washing of dishes is the sole responsibility of the member(s) occupying the unit. A fee will be charged for any dishes left dirty. Additional housekeeping services are available by contacting the Front Desk. A charge for additional housekeeping service will be made and must be paid prior to your departure. Section 13. SAFETY AND HEALTH RULES No dangerous or unlawful substance may be kept or used on the premises. Obnoxious, unlawful, or offensive activities are prohibited. The Managing Agent reserves the right to establish specific rules governing such potentially loud or disturbing activities as use of musical instruments, stereos, record players, radios, TV or late-evening entertaining, if it determines that there is a need to do so in the best interest of all the Members. Good judgment and thoughtfulness for others should always be used when engaging in such activities. In addition, you are requested to monitor your children s activities so that they do not disturb other Members and guests. Section 14. RULES PROHIBITING SMOKING WITHIN THE TIMESHARE FACILITY No Member, guest, permitted user or exchange member shall smoke inside any timeshare unit. Smoking is likewise prohibited inside any offices, employee areas, or any other enclosed area or within 20 ft. of any window, door or any type of structure, including summer canopy areas and balconies. All cigarette debris shall be placed in designated receptacles provided by the Resort. This prohibition shall apply to all members, guests, permitted users or exchange members and employees of the Resort. Any violation of this non-smoking provision shall be subject to a $250 fine plus the cost 10

11 Page 11 of 15 of any clean-up including, but not limited to, the cleaning (or replacement) of linens, drapes, carpets, and the like. The Member(s) shall be responsible for the payment of said fine in connection with the Member(s) conduct and said Member s guest(s) and permitted users. The Association shall charge the exchange member for any violation of this rule by said exchange member. Section 15. PETS No animals or pets of any kind are allowed in any unit or anywhere on the Resort property. If anyone is found with a pet on premises or if pet damage is found: 1.) both human and pet will be required to vacate, 2.) a fine of $250 will be charged, and 3.) the cost of any clean-up including, but not limited to, the cleaning (or replacement) of furniture, carpets, drapes, linens, etc. will be charged. Certified Service Animals will be permitted on property as State Law requires. Section 16. CONTROL OF CHILDREN To ensure that our Timeshare Owners have the opportunity to enjoy a calm and quiet Resort, parents must supervise the conduct of their children (and the children of their guests), and in the absence of parental supervision, Resort Staff Members will enforce the Stardust Rules and Regulations directly with the children. Children are not permitted to play or conduct themselves in any way that could harm themselves or others OR that would offend or harass others (loud music, screaming (as opposed to laughing) and cursing is considered offensive to most of our Owners). Activities not permitted on property in walkways, parking areas, the lobby, and around the pool areas are: skateboarding, bikeriding, using roller shoes or skates, using scooter type equipment, and/or racing around on foot. The Stardust is a family resort. Playfulness that is not harmful or offensive to others is encouraged! Section 17. APPEARANCE OF RESORT PROPERTY No sunshades, awnings, or other similar devices may be used on any balcony or terrace. Draping of any article, including towels, swimsuits, etc., in the patio areas, on banisters, or otherwise, on property is not permitted. Remember that you have free use of washers and dryers in the guest laundry room. Section 18. SOLICITING No commercial soliciting is permitted, whether within a timeshare unit or the common area, at any time by any Timeshare Member, guest exchange user, or Member Guest or Rental Guest. We intend that all of our Members, RCI Exchangers and Rental Guests enjoy their privacy and quiet times. 11

12 Page 12 of 15 Section 19. ANNUAL MAINTENANCE FEES AND PROPERTY TAXES Annual Maintenance Fees and Property Taxes are the monies that support your Resort and they are due and payable on January first (1 st ) of each year. Maintenance Fees and Property Taxes must be paid whether or not the Member actually utilizes his unit or takes part in an exchange program in any given year. Reservations will not be accepted through our Reservations Department if there are any monies due, no matter the amount. Late charges and interest shall be levied by the Association against all Members who pay their Annual Maintenance Fees, Property Taxes, or Special Assessments in an untimely manner. Article 6.1 of the Declaration requires that the Association levy, collect and enforce Assessments against Members in the manner provided in Articles V and VI of the Declaration of Timeshare Use. Article 5.5 of the Declaration states that Annual Maintenance Fees, Property Taxes, or Special Assessments be paid in a lump sum. Therefore, pursuant to the powers and authorities vested in the Association, the following charges shall be levied against delinquent Members, to wit: a) Annual Maintenance Fees and Property Taxes are due and payable January first (1 st ) of each year, and considered delinquent on January 2 nd. b) Annual Maintenance Fees & Property Taxes not paid sixty (60) days after the January 1 st due date, are considered seriously delinquent and are subject to the following charges and restrictions: (i) Delinquent Assessments may be subject to a seventy-five dollar ($75) late (ii) fee. Property Taxes may be subject to a ten percent (10%) penalty Interest may accrue at the rate of ten (10%) per annum from the due date, until the delinquent assessment is paid in full. (iii) The delinquent Member s use rights and voting rights may be suspended until the Annual Maintenance Fees, Property Taxes, and other Assessments, and all related charges are paid in full. The aforementioned charges are in amplification of and not limited upon the powers of the Association to enforce Member s obligations under the Declaration of Timeshare Use. Section 20. USE OF SWIMMING POOLS and SPA Pool hours and rules are posted at the pool(s) and spa(s): uses of these amenities are solely at your own risk. No lifeguard will be on duty. Pursuant to California Code 3119B.5, children fourteen (14) years of age or under shall not be permitted in the pool area unless accompanied by an adult, and no child under fourteen (14) years of age is permitted in the spa. Pool hours are subject to change at the discretion of the Managing Agent. Any person violating any of the pool or spa rules will be refused use of the pool and/or spa. 12

13 Page 13 of 15 Section 21.NOTIFICATION OF SALE OF TIMESHARE INTERVAL No later than thirty (30) days before the voluntary or involuntary sale, transfer, or assignment of any Timeshare Interval or Timeshare Estate, the transferor shall notify the Association in writing, in whatever form, if any, required by the Association of such proposed sale or transfer. The current Timeshare Member shall submit the Association s required documents including, but not limited to, and subject to modification of the following: an Estoppel form establishing the current status of ownership and maintenance assessments to be verified by the Association, a membership application, an ownership transfer form, a Company Resolution authorizing the purchase or sale of the subject Timeshare Interval by the buyer or seller as applicable and a draft of all documents necessary to complete the transfer. All documents must be in conformance with the Association standards. In the absence of such notice, and prior to the Association s approval of the recordation of the conveyance documents, the Association shall not be required to recognize the transferee for any purpose, and any action taken, prior to the giving of such notice by the transferor, as an Owner, may be recognized by the Association. However, the Association reserves the right to object to any transfer in the event said transfer does not convey title to a bonafide purchaser. Section 21.a FEES REQUIRED UPON TRANSFER Any transfer shall include the transfer fee required by the Association then enforced at the time of the transfer and the first year maintenance assessments for the next use year, applicable to said Timeshare Interval. Excepting therefrom, that any transfers occurring between parents and child(ren), from Members to their trusts, between siblings, between current co-owners that are not relatives, transfers from an existing Member to another existing Member in good standing, and in those other circumstances that the General Manager or the Asst. General Manager (hereinafter referred to as Manager ) deems appropriate at the Manager s discretion, are exempt from having to make payment of the next year s maintenance assessments as a requirement of the transfer. Section 22. ENFORCEMENT OF THE RULES AND REGULATIONS The Board of Directors expects all Timeshare Members and their guest(s) to adhere to the requirements set forth in these Rules and Regulations, the Declaration of Timeshare Use and By- Laws. To assist the Board of Directors in the enforcement of the provisions of these three (3) documents, the Board has delegated enforcement authority to the Managing Agent, Asst. General Manager and the Resort Manager (hereinafter referred to as Managers ). Any Timeshare Member or guest who has been advised by one of the Managers that they are in violation of the Rules and Regulations or the Declaration of Timeshare Use will immediately cease and desist that activity. If, in violation of the Rules and Regulations, a Timeshare Member or guest fails to comply with the Manager s direction, the Member or Member Guest may be immediately denied use of the Resort and will subsequently be referred to the Board of Directors for consideration of all matters and the possible assessments of penalties by reason of such person s non-compliance. The Timeshare 13

14 Page 14 of 15 Member against whom such action is proposed to be taken, has the right to appear before the Board of Directors at a meeting date designated by the Board of Directors, to contest such action, as provided in the Bylaws and the Declaration. Section 23. FAILURE TO VACATE If you fail to vacate your assigned accommodation by the designated check-out time at the end of your week(s), or otherwise use or occupy the accommodation during a period other than your week(s), or prevent another Member from using or occupying an accommodation during such other Member s reserved week(s), you shall be subject to any and all of the following remedies: (a) Immediate removal, eviction or ejection from the accommodation wrongfully occupied, (b) Be deemed to have waived any notice required by law with respect to any legal proceedings regarding your removal, eviction or ejection (to the extent that such notices may be waived under California Law), (c) Be deemed to have designated Managing Agent or Managing Agent s employee to remove and hold your baggage and other personal property from the accommodation wrongfully occupied, (d) Reimburse the Member or person(s) otherwise entitled to use the accommodation and the Association for all costs and expenses incurred by him/her as a result of you or your guest s conduct, including but not limited to cost of alternative accommodations, travel cost, court costs, and responsible attorney s fee, incurred in connection with removing, evicting, or ejecting you from the unit; and occupancy, as liquidated damages. (e) In addition to the costs and expenses set forth in subparagraph (d), above, a sum equal to two-hundred percent (200%) of the fair off-street rental value per day of the accommodation for each day or portion thereof, including the day of surrender, during which you prevent occupancy of the accommodation. The Association shall be responsible for determining the Fair Rental Value of the accommodation located in South Lake Tahoe or in the vicinity of your Resort. If by your intentional or negligent act, you render the accommodation uninhabitable for the successive week(s), you shall be liable to the Association or to the person(s) scheduled to use the successive reserved week(s) just as if you had refused to vacate the accommodation at the end of your reserved week(s). The act of negligence of your guest, any member of your family, or any other person who occupies the accommodation with your permission (other than RCI Exchange User) shall be deemed to be your act; provided however that you shall be responsible for payments of the amounts or account of such acts by your guest, any member of your family or any other person who occupies the accommodation with your permission only to the extent the same are not covered by insurance. 14

15 Page 15 of 15 Section 24. POLICY CHANGES The Association has the authority to amend the Rules and Regulations as circumstances may require. In the event the Managing Agent determines that the reservation procedure provided in these Rules and Regulations are unmanageable or unfair to Members, the Association may, by amendment to the Rules and Regulations, revise the conditions, restrictions and limitations as the Association deems necessary under the circumstances to assure a manageable and fair system for use by Members. Your input will always be welcomed. While it is necessary to provide Rules & Regulations to ensure the quiet enjoyment of your vacation time, we certainly hope you get exactly that a wonderful vacation, full of terrific family memories. Thank You! Your Management Staff 15