2021 RULES AND REGULATIONS

The following rules and regulations are proposed by the Board of Directors of Eaglewood Timeshare Owners Association (ETOA). All terms used herein the Declaration of Covenants, Conditions and Restrictions for Eaglewood Timeshare Ownership, dated August 10, 1984, and recorded as document number 36648 or the Bylaws and any amendments or restatements thereof for the Association. EACH RULE AND REGULATION APPLIES TO ALL OWNERS AND OCCUANTS AND THEIR GUESTS. EACH OWNER IS RESPONSIBLE FOR VIOLATIONS OF THE RULES AND REGULATIONS BY THE OCCUPANTS OF THE OWNER’S UNIT AND BY THE OCCUPANT’S AND OWNER’S GUESTS. The rules and regulations are in addition to and in certain instances supplement the use restrictions provided for in the Declaration and Bylaws.

1.  SugarWood Townhouse Association No. 2 Rules and Regulations

1.1  Eaglewood Timeshare Association (ETOA) is a member of SugarWood Townhouse Association No. 2 and is therefore subject to the Rules and Regulations of that Association-12/21/12 rules. (Attachment #1)

2.  Maintenance Fees Billing and Payment and Late Fees

2.1  Annual Maintenance fees shall be set by the Board of Directors each year end, billed on or about September 1 and shall be payable in full by October 10 of the preceding year.

2.2  Late Fees, Collection Costs
A $10 late fee may be charged on the 1st of each month beginning November 1 until fees are paid in full. Unpaid accounts may be turned over to a collection agency if payment arrangements are not worked out and approved prior to March 1 of the interval use year. Collection fees shall be added to the amount due.

2.3  Liability for Assessments.
Members are expected to pay all fees assessed by ETOA and use their assigned intervals as scheduled as long as ownership continues. Responsibility for assessments may not be waived because of non-use.

2.4  Use Rights Forfeiture Policy
Fixed interval owner’s use rights to their designated week shall be forfeited if fees are not paid in full or payment arrangements approved by November 15.

Weeks shall be made available for other members to rent. Rental proceeds shall be payable to the Association and retained as income. Owner remains responsible for full assessments and collection costs. Owners are eligible to choose from remaining unassigned weeks when they have paid in full.

2.5  Prepayment Policy
Maintenance fees may be paid up to 2 years in advance at current year rates to lock in future reservations and/or deposits with Interval International. Any adjustment balances would be due at the time of billing.

3.  Timeshare Rentals

All weeks which are not assigned or held for approved payment plans as of December 1 shall be released for rental by members in good standing as supplemental rental in full week intervals and through the Resort’s rental program. Members may also release their assigned intervals to the Resort’s rental program.

3.1  Supplemental Rentals
Members in good standing may rent unassigned weeks after December 1 at rates set by ETOA. Rents shall be payable to ETOA and retained by the Association as income. The Resort shall be paid cleaning fees for supplemental week rentals but no rental commission.

3.2  Release of intervals to Resort Rentals Program
Intervals unassigned one month prior to scheduled times shall be released to the Resort for rental at rates set by the Resort. The Resort shall retain 50% of such rental proceeds.

3.3  Townhouse Rentals
Members may rent available Eaglewood units or other townhouse rentals through the Resort at rates set by the Resort. Members may also receive up to 50% discounts on other townhouse rentals at the Resort, subject to availability, with reservations made no more than a week in advance.

3.4  A special “Member Rental” program is available to Eaglewood members.

4. Interval Ownership Transfer

4.1  Timeshare Resales
ETOA does not operate a timeshare interval resale program. Owners are responsible to find their own buyers or to assign their ownership interests to other parties willing to accept ownership. Owners are encouraged to solicit parties who understand and appreciate interval ownership and will enjoy their acquisition.

4.2  Timeshare owners (sellers) are responsible to ensure title, transfers are lawful and complete, providing all documents necessary to coming convey clear title to subsequent owners. All transfers are subject to written approval by ETOA and payment of transfer fee. Previous owners (sellers) are not released from ownership responsibilities and liabilities until outstanding fees are paid, buyers have agreed to accept ownership, documentation is complete and the transfer is approved by ETOA.

4.3  Buyers’ Acknowledgment
Sellers are responsible to ensure that subsequent owners receive a current ownership packet (ETOA shall maintain and make available upon request), which included the Eaglewood Timeshare Ownership Introduction, Association Declaration and Bylaws, Rules and Regulations and current financial reports. Buyers’ must acknowledge in writing receipt of the packet and agree to accept ownership, abide by the Association Rules and Regulations and pay all fees levied by ETOA.

4.4  Transfer fees
A transfer fee as determined from time to time by ETOA shall be paid to ETOA for each ownership change to cover the cost of the Associations cost of reviewing documentation and updating records.

4.5  Hardship Transfers
Eaglewood members are expected to find subsequent owners to take over their timeshare intervals when they are no longer wanted or affordable. A payment to accept ownership may be necessary to entice acceptance. In the event all efforts fail, ETOA may accept a deed if conditions are met:

1. Letter to ETOA explaining the hardship
2. No outstanding assessments or fees
3. Pay a $1,650 relinquishment fee
4. Pay transfer costs