Timeshare Resale Contract Template (Page 2 of 6) in pdf

timeshare unit during the week(s) described in paragraph 3, and or (b) the vacation club points

described in paragraph 3.

11. PURCHASE PRICE AND PAYMENT: In exchange for Seller's transferring to Buyer all of

Seller's ownership rights in the property described in paragraph 3, Buyer will pay Seller the amount

set forth as the Purchase Price in paragraph 4.

Buyer will pay the Deposit amount stated in paragraph 5 of the Contract upon Buyer's

signing the Contract. If a third party acts as an escrow agent, then the Buyer reserves the right to

deposit the amount to the PCS Holdings, LLC DBA PCS Title

Buyer will pay the escrow agent named in the above paragraph the balance of the purchase

price at closing of title. The Sellers funds will be disbursed in accordance with the applicable state

laws of the recording state.

12. LOAN CONTINGENCY: If no loan is stated in paragraph 6, this Contract shall be firm and

unconditional upon execution by both parties. Otherwise, Buyer's obligation to buy the timeshare

unit(s) or vacation club points depends upon Buyer's receiving a written commitment from a lender

to provide a loan to Buyer in the amount set forth in paragraph 6, with interest at prevailing rate,

repayable on not less than a 5 year payment schedule, and/or from Seller in the amount and upon

the terms set forth in paragraph 6.

Buyer agrees to file a loan application within 10 days from the date of the contract and to

sign such application forms and to supply such information as may be required by the lender or the

Seller. Seller has no obligation to provide financing as set forth in paragraph 6 until Seller has

reviewed such credit information as Seller may reasonably request and has notified Buyer in writing

that such financing is approved.

13. CONTRACT CANCELLATION: If there is a loan contingency and a firm loan commitment

is not received within 45 days from the date of the Contract, either Seller or Buyer may cancel this

Contract and all deposit monies shall be returned to Buyer. Neither party shall thereafter have any

further obligations to the other with respect to this contract.

If Buyer does not notify Seller within the aforesaid time that Buyer has been unable to secure

a firm loan commitment, this Contract shall become firm and unconditional.

14. CONTRACT DATE AND CLOSING DATE: The Contract date shall be 10 days after the

date of Buyer's deposit check, if no contract date is entered into the Contract after it has been signed

by both parties,

The approximate date for payment of the balance of the purchase price and delivery of the

conveyance documents (the "closing") is 60 days after the date of Contract.

15. ESCROW AGENT; TITLE SEARCH: Within 10 days after the Contract is firm and

unconditional, the Buyer shall notify Seller of the attorney, title company or other appropriate

person who is arranging title search, execution and delivery of documents, transfer of funds and

satisfaction of liens (the "escrow agent"). If Buyer does not notify Seller of the selection of an

escrow agent within the aforesaid time, Seller is authorized to engage an escrow agent but shall not

be obligated to do so. The escrow agent shall hold and disburse funds in accordance with this

contract and shall perform such other services for which the escrow agent is specifically engaged.

The fees for the escrow agent's services shall be ______ paid by seller or _______ paid by buyer or

V.A. Title Concepts, LLC in the State of Virginia and N.C. Title Concepts, LLC in North Carolina

Timeshare Resale Contract Template Page 2