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This is a Vacation Rental Agreement under the North Carolina Vacation Rental Act. The rights and obligations of the parties to this agreement are defined by law and include unique provisions permitting the disbursement of rent prior to tenancy and expedited eviction of tenants. Your signature on this agreement, or payment of money, or taking possession of the property after receipt of the agreement, is evidence of your acceptance of the agreement and your intent to use this property for a vacation rental. This agreement includes the information and rules as printed on the reverse side and Exhibit A attached.

1. Tenant agrees to pay for all charges prior to arrival. Advanced rent as indicated shall be paid within seven days of reservation. In the event advanced rent is not received within the specified time period, the reservation request shall be considered cancelled with no further notice. Balance of payment plus sales tax, shall be paid at least thirty (30) days prior to check-in. Tenant understands that there will be a $25.00 charge for a check returned by the bank for non-sufficient funds.

2. TENANT ACKNOWLEDGES AND UNDERSTANDS THAT THE AGENT SHALL PLACE ALL FUNDS IN AN ESCROW ACCOUNT AT BRANCH BANKING & TRUST COMPANY, 617 FRONT STREET, BEAUFORT, NORTH CAROLINA 28516, AND THAT UPON COMPLETION OF TENANT'S STAY, FUNDS SHALL BE DISBURSED FROM SAID ESCROW ACCOUNT WITH ANY INTEREST ACCRUED CREDITED TO THE AGENT HEREIN.

3. Tenant understands that a refund of advanced rent monies (less a $30.00 cancellation fee) requires a written notice thirty (30) days prior to the arrival date. Under no circumstances will a refund be made of advance rent monies or prepayments after the expiration of the thirty (30) day grace period.

4. Tenant acknowledges and understands that the Agent may disburse up to one-half (50%) of the total rent amount prior to the occupancy of the property by the tenant. This disbursement is limited to fees owed to third parties to pay for goods, services or benefits procured by the landlord or real estate broker for the benefit of the tenant, including administrative fees. The tenant's execution of a Vacation Rental Agreement in which he or she agrees to the advance disbursement of payments shall not constitute a waiver of loss of the tenant's rights to reimbursement of such payments if the tenant is lawfully entitled to reimbursement.

5. Tenant understands that when, due to circumstances beyond Agent's control, a reserved accommodation becomes unavailable or uninhabitable, substitute accommodations will be provided. As outlined in Section 42A-17-b of the North Carolina Vacation Rental Act, if at the time the tenant is to begin occupancy of the property, the landlord or real estate broker cannot provide the property in a fit and habitable condition or substitute a reasonable comparable property in such condition, the landlord and real estate broker shall refund to the tenant all payments made by the tenant. Tenant acknowledges and understands that the Landlord or Agent is not responsible for acts of God, such as hurricanes, and other disasters, or for other lesser acts of God, such as bad weather. NO REFUNDS WILL BE MADE to a tenant by reason of the above except as stated in Article 6, Section 42A-36 of the North Carolina Vacation Rental Act. Specifically, "If State or local authorities, acting pursuant to Article 36A of Chapter 14 or Article 1 of Chapter 166A of the General Statutes, order a mandatory evacuation of an area that includes the residential property subject to a vacation rental, the tenant in possession of the property shall comply with the evacuation order. Upon compliance, the tenant shall be entitled to a refund for each night that the tenant is unable to occupy the property because of mandatory evacuation order. THE TENANT SHALL NOT BE ENTITLED TO A REFUND IF: (i) PRIOR TO THE TENANT TAKING POSSESSION OF THE PROPERTY, THE TENANT REFUSED INSURANCE OFFERED BY THE LANDLORD OR REAL ESTATE BROKER THAT WOULD HAVE COMPENSATED HIM OR HER FOR LOSSES OR DAMAGES RESULTING FROM LOSS OF USE OF THE PROPERTY DUE TO A MANDATORY EVACUATION ORDER; OR (ii) THE TENANT PURCHASED INSURANCE OFFERED BY THE LANDLORD OR REAL ESTATE BROKER. The insurance offered shall be provided by an insurance company duly authorized by the North Carolina Department of Insurance, and the cost of the insurance shall not exceed eight percent (8%) of the total rent charged for the vacation rental to the tenant” Tetterton Management Group is licensed by the NC Insurance Commission to offer this insurance and is compensated by percentage from the underwriter.

6. All Security Deposit funds collected from the tenant shall be subject to the provisions of the Residential Tenant Security Deposit Act as codified in Article 6 Chapter 42 of the General Statutes. In addition to the permitted uses of tenant security deposit monies as provided in G.S. 42-51, a landlord or real estate broker may, after termination of a tenancy, under this Chapter, deduct from any tenant security deposit the amount of any long distance or per call telephone charges and cable vision charges that are the obligation of the tenant under the vacation rental agreement and are left unpaid by the tenant at the conclusion of the tenancy. A $15.00 service charge will be added to tenants charges if said charges are not paid upon departure.

7. It is the Landlord's duty to provide fit premises for the tenant as outlined in Article 5 Section 42-A-31 of the Vacation Rental Act. It is the Tenant's responsibility to maintain the dwelling unit and the remainder of the property he or she uses in a clean and safe manner. Tenant agrees that he is responsible to indemnify the Landlord and the Agent for any damages to the premises, including damages to the furnishings and household items, which occur as the result of the tenant's occupancy, excluding normal wear and tear. Tenant shall be responsible for breakage or repairs for damage to the unit. The tenant's security deposit may be applied to actual damages caused by the tenant as permitted under Article 65 of Chapter 42 of the general Statutes.

8. Tenant agrees that the landlord or agent is not responsible for any injury to any person occurring on the property during the term of occupancy of the tenant. Tenant understands that the property is privately owned, including the furnishings and neither the agent or the landlord shall be responsible for providing any additional furnishings or equipment not presently on the premises. Tenant understands that certain areas, such as locked closets designated for private use, are reserved for the exclusive use of the Owner and will not be available for the use of the tenant. Management firm, owner, or their representatives have the right to enter premises during tenancy to inspect, make repairs or show property for sale.

9. Tenant acknowledges and understands that he/she is subject to “Expedited Eviction”, as outlined in Article 4 Section 42A-23-27 of the Vacation Rental Act, if tenant (1) Holds over possession after his or her tenancy has expired, (2) Commits a material breach of this Vacation Rental Agreement, (3) Fails to pay rent as required by the agreement, (4) Obtains possession of the property by fraud or misrepresentation.

10. Tenant agrees to a check-in time of 4:00 p.m. on arrival date and a check-out time of 11:00 a.m. on the departure date. A late departure fee of $25.00 per hour will be charged for every hour beyond the designated departure time. NO KEYS WILL BE ISSUED PRIOR TO 4 PM.

11. Tenant agrees to observe the following general rules and regulations:

a) PETS ARE NOT PERMITTED. Violators will be subject to immediate eviction and charged an additional fee of $100.00 to clean and sanitize property. Call about policy on Special Assistance Animals.
b) Occupancy may not exceed the allowable sleeping accommodations as listed on the reverse side of this agreement.
c) Occupancy of the premises and use of community walkways, pools, etc. shall be sufficiently quiet and peaceful so as not to disturb other residents.
d) Hanging of clothes and towels from railings and other structures is prohibited at all condominiums.
e) No Boats, trailers, mobile homes, or campers shall be parked on any condominium premises except as allowed by the tenants of Summer Winds and Dunescape with proper reservation notification and parking permits.
f) All keys and parking passes must be returned to Tetterton Management Group upon departure. Tenant will be charged $5.00 for each key and $25.00 for each parking pass not returned. There is a $25.00 charge lockouts after hours.
g) Lost or forgotten items are the responsibility of the tenant. The Landlord or Agent assumes no responsibility for the same. Tetterton Management Group will assist tenant in the recovery of these items provided the tenant pay all costs associated with the return of the items. All lost and found items will be disposed of after 30 days.
h) Tenant will comply with all the individual building or property posted rules and regulations, if any.

12. This agreement includes the attached provisions, (Exhibit A); describing the rights and obligations of the landlord, agent and tenant upon transfer of the property and Owner Cancellation.

Exhibit A: VACATION RENTAL AGREEMENT

Rights and Obligations of the Landlord, or Agent and Tenant Upon Transfer of the Property and Owner Cancellation

This is an attachment to Vacation Rental Agreement entered into by tenant through Tetterton Management Group, Inc. under the North Carolina Vacation Rental Act. Your signature on the attached agreement, or payment of money, or taking possession of the property after receipt of the agreement, is evidence of your acceptance of the agreement in its entirety including this attachment.

TRANSFER OF PROPERTY:

1. Section 42A-19(a) of the Vacation Rental Act of North Carolina provides that if the property is voluntarily transferred by the landlord, a tenant has the right to enforce the vacation rental agreement against the grantee of the property if the vacation rental is to end 180 days or less after the date the grantee's interest in the property is recorded: if the vacation rental is to end more than 180 days after the recordation of the grantee's interest in the property, the tenant has no right to enforce the terms of the agreement unless the grantee agrees in writing to honor the agreement. If the grantee does not honor the agreement, the tenant is entitled to a full refund of any payments he or she has made.

2. Section 42A-19(a) also provides that the grantee or grantee's agent, within 10 days after the transfer of the property, shall:

1) Notify each tenant in writing of the property transfer, the grantee's name and address, and the date the grantee's interest was recorded.
2) Advise each tenant whether he or she has the right to occupy the property subject to the terms of the vacation rental agreement and the provisions of this Section.
3) Advise each tenant of whether he or she has the right to receive a refund of any payments made by him or her.

3. Section 42A-19(b) also provides that upon termination of the landlord's interest in the property, whether by sale, assignment, death, appointment of receiver or otherwise, the landlord, landlord's agent or real estate agent is required to transfer all advance rent paid by the tenant (and other fees owed to third parties not already lawfully disbursed) to the landlord's successor-in-interest within thirty days, and notify the tenant by mail of such transfer and of the transferee's name and address. However, if the vacation rental is to end more than 180 days after the recordation of the landlord's successor-in-interest in the property, and the landlord's successor-in-interest has not agreed to honor the vacation rental, all advance rent paid by the tenant (and other fees owed to third parties not already lawfully disbursed) must be transferred to the tenant within thirty days.

4. Section 42A-19(c) provides that if the landlord's interest in the property is involuntarily transferred to another prior to the tenant's occupancy of the property, the landlord shall refund to the tenant any payments made by the tenant within sixty days after the transfer.

CANCELLATION BY OWNER:

Management firm, on behalf of the owner of the property, reserves the right to cancel agreement at any time prior to tenant taking possession of the property. In such event, all payments made to the management firm will be refunded, and neither management firm nor owner will be liable for any damages of any sort incurred by tenant as a result of such cancellation. If tenant desires to be placed in alternative premises, management firm will make good faith effort to relocate tenant, but if substitute premises are more expensive, tenant agrees to pay the difference.