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Agreement between
Seasons Holidays plc and Laugharne Park Owners Club
The following conditions are the terms of agreement between Seasons Holidays and Laugharne Park Owners Club, (LPOC), to accommodate the transfer of LPOC Members to Seasons Holidays Plc, and the simultaneous winding up of LPOc.
- LPOC Members will be admitted as Seasons Owners without any charge.
- LPOC Members will be admitted as Seasons ‘Charter’ Members enjoying all the benefits and privileges of full Seasons membership. (Seasons ‘Charter’ membership is transferable through the act of bequeath or direct transfer to family members prior to death, but non-transferable through re-sale).
- LPOC Members can retain the option of utilising their fixed week (for fixed week entitlement) in the chalet detailed on their current LPOC certificate, until such time as a full redevelopment program commences, and that programme impacts on the existing chalet. Once reconstructed, Seasons or its successors will provide the same week in the timeshare calendar, and with best endeavours, in a unit similar both in site location and amenity at the Laugharne Park Resort. The unit size will remain the same as that currently enjoyed Currently, the default for a Member will be the same fixed week as that which they currently own. In order to change a holiday location within the Seasons portfolio, six months notice will need to be given to the Seasons Membership Services department. Changing between fixed and floating holidays will be available for the duration of the contract, nominally until 2069. There will be no additional charge levied on any Member who takes advantage of changing between Fixed or Floating, irrespective of the number of times this option is taken up. (All members of Seasons Holidays are on a ‘Floating’ membership basis. The term ‘Fixed’ used in this Condition 3 refers to a special concession granted in this contract and is used for clarity only)
- Seasons Holidays will bear all fees for the transfer of LPOC membership certificate.
- Seasons will credit each Member with two free weeks’ holiday to be taken over a two year period, from January 1st 2009. It will be the Members’ responsibility to arrange the weeks, the more notice given the more likely any request will be successful. Where a Member owns more than two weeks it will be possible to use the extra weeks over a four year period. For example, a four week Member will have four years to use their eight bonus weeks. If it has not been possible to accommodate any member with a free week in any year under this condition, provided that the Members request has been reasonable and made in good time, that free week will be carried over to the following year. (Any dispute will be referred to SOCC (see condition 9) for their arbitration).
- The cash assets of the LPOC on finalisation of the accounts at the end of the financial year, will be distributed to the Members on a per week owned basis. The ‘distribution of these funds will be made by the Treasurer of LPOC, and verified by the Accountant and Trustees. Seasons Title Limited will be excluded from this process, and waive all claims on the cash distribution.
- Seasons will continue to buy unwanted weeks from any LPOC Members directly at five hundred pounds per week (£500), up until one calendar month following the date of the Special General Meeting, unless otherwise agreed.
- Currently, Seasons Owners have an option to settle their Annual Management Fees by Direct Debit, by paying in three equal monthly instalments, October through to December (any adjustment to the fee is taken on the final payment in December). This will be made available to LPOC Members starting from October 2009 for the 2010 membership period.
- Seasons have a consultative committee, for use by the Seasons Owners, namely Seasons Owners Consultative Committee (SOCc). SOCC contribute to the Seasons ‘e-news’, an electronically provided newsletter (all Owners have an option to opt in for receipt), plus access through the Seasons website.
- Subject to ‘prevailing conditions’ LPOC Members, having joined Seasons will have the same opportunities to upgrade to Seasons Elite membership, as any other Seasons Owner. The minimum requirement for applying for membership is 2 Red weeks, but additional conditions will apply, and are subject to constant review.
- LPOC Members will be asked to surrender their original certificates or a signed Indemnity in the absence of the original certificate to the Trustees- Hutchinson & Co Trust Company Ltd (HCTC). Upon receipt of that Certificate or Indemnity, HCTC will advise Membership Services at Laugharne Park who will in turn despatch a Seasons Holidays Plc Purchase Agreement to each Member, for signature and return. Upon instruction from Seasons, HCTC will then issue each Member with a Seasons Certificate that will equate to the value of the one surrendered i.e. size of occupancy, seasonal banding or that covered in clause 3 herewith, relating specifically to Fixed Week ownership. Once Membership Services has received notification that the certificate has been surrendered that member can immediately take full advantage of their Seasons ‘Charter’ membership, but with the proviso that the Management fee will be paid promptly upon receipt of the invoice from Seasons Holidays plc (in January 2009). Details of the administration process for joining Seasons will be provided in conjunction with a LPOC newsletter, and with full LPOC Committee participation.
This agreement is an addendum to the standard Seasons Holiday Plc Purchase Agreement and forms part of the overall contract. In the event of a conflict between the two parts, the terms of agreement contained within this document shall prevail.
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