Vacation Rental Lease Agreement

THIS IS A VACATION RENTAL AGREEMENT UNDER TITLE NORTH CAROLINA VACATION RENTAL ACT (VRA). 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 PROPERTYFORAVACATION RENTAL (G.S. 42-A) VRA DOES NOT APPLY TO RENTALS FOR BUSINESS OR EMPLOYMENT PURPOSES

1.   RESERVATION PAYMENT After we book a property for you, you will be sent a Vacation Rental Agreement. Please read, initial front page, sign the back and return along with the advance rent payment of one half of the base rent and Travel Insurance (if desired) within ten days of placing reservation or the reservation will automatically be cancelled without notice. Due to the high demand for rental properties, we cannot hold unconfirmed reservations beyond ten days and therefore suggest that you take advantage of using Overnight Delivery Services. The full balance of your rent, security deposit or damage waiver, and taxes are due thirty (30) days prior to check-in. You may pay your balance by personal check, money order, cashier’s check, or Visa/Mastercard. Payment by Visa/Mastercard/Discover will incur an additional non-refundable processing fee of $29.95 payable to Vacation Rent Payment.com. Personal checks will not be accepted if there is less than 30 days until your arrival. There will be a $20.00 charge for returned checks. If the reservation is made within 30 days of check-in, the full amount is due within five (5) days of the date the reservation is made. IF BALANCE OF RENT IS PAID AT CHECK-IN, AN ADDITIONAL $20.00PROCESSING FEE IS DUE. Agent is authorized to place all rent payments in Agent's Rental Trust Account at Gateway Bank & Trust in Kitty Hawk, with any interest accrued payable to Agent, then disbursed to the Owner at the end of each month less the Agent's commission.

2.   PARTIAL WEEK RENTALS There is a 2 night minimum, however; these reservations can only be made 5 days in advance. Partial week rentals have a $350 minimum rental amount. Some of our properties do not allow partial weeks. Contact our office for participating owners. All partial week rentals require an additional hot tub and/or pool fee if applicable..

3.   SECURITY DEPOSIT/ DAMAGE WAIVER There is a minimum security deposit of $300.00 for most properties unless otherwise advertised. Upon satisfactory inspection, your security deposit will be refunded within forty-five (45) days of your departure. In lieu of a security deposit. Atlantic Realty offers the Damage Waiver program. The cost of this program is a $50 non-refundable fee that covers accidental damage to the property for the duration of your stay up to $1500. This program cover intentional damage, theft, acts of God, defective parts, long distance and pay per view charges, gross negligence, pet damage, loss of use, normal wear and tear or any cause not reported by the end of the guest’s stay. The security deposit or damage waiver fee is payable with the balance of your rent 30 days prior to your check-in.

4.   TRAVEL INSURANCE  Insurance offered covering financial losses you may incur because of unforeseen circumstances, illness, and injuries it even includes coverage for mandatory hurricane evacuations. The cost of this insurance is due with your advance rent payment. A brochure outlining benefits, exclusions and limitations will be mailed with a copy of your Vacation Rental Agreement. If you elect NOT to purchase this coverage, you may delete the charge by initialing where indication on your agreement. Travel Insurance is NOT available for reservations once paid in full. Once insurance premium is paid, it is non-refundable. If State or Local authorities order a mandatory evacuation of an area that includes the property subject to this Vacation Rental Agreement, the Tenant in possession of the property shall comply with the evacuation order. The tenant be entitled to a refund of rent when a mandatory evacuation is ordered if tenant purchased travel insurance from the owner or vacation rental manager or if tenant was offered and refused the insurance by the owner or vacation rental manager irrespective of whether the mandatory evacuation forced tenant to leave the property (i.e. tenant already had possession of the property) or tenant was prevented from occupying the property.

5.   FAMILY FUN PROGRAM Atlantic Realty’s Family Fun Program administered through ASI Holding, Inc. entitles guest of participating properties to one complimentary admission, per service, per reservation for each paid night of their vacation. Not valid on check-out day. Activities are non-cumulative and non-transferrable. Reservations are required throught ASI and can be made no more than 48 hours in advance. Valid credit card and picture ID required to make reservations. Activities and availability are subject to change.

6.   CHECK-IN / CHECK-OUT  Tenants may check-in at our rental offices between 4:00pm – 6:00pm on the designated date of the confirmed reservation. In the event extensive cleaning is required, we must have until 6:00pm to complete. Properties located Duck and north will check-in/check-out at the Duck office. All other properties will check-in/check-out at the Kitty Hawk office. Keys and directions will be placed in an envelope and will be left at our rental office for Tenants who check-in after our office closes. Late arrivals can only be handled for Tenants with signed agreements that are paid in full. Check-out time is 10:00am on the scheduled date of departure. Failure to check-out on time may result in an extra day's charge. All keys must be returned to our office along with the Tenant Departure Form. Failure to do so will result in a $5.00 charge per key. Early Check-In Request – A limited number of 1:00pm check-ins will be offered for those Tenants with special arrival needs(participating properties only). Please mark the “Early Check-In” space in your agreement. The cost is $50.00 which covers administrative costs and is due at check-in regardless if tenants check-in early. We cannot offer the “Early Check-In” if the Owner has the preceding week, repair work is needed, or any other unforeseen circumstances. EARLY CHECK-IN IS NOT GUARANTEED

7.   FAMILY GROUPS ONLY - It is the policy of Atlantic Realty to rent only to family groups and you must be at least 25 years old due to the obligations to our Owners. We lease properties without regard to race, color, religion, sex, national origin, handicap or familial status of any party. A family group is defined as parents, grandparents, children and extended family members vacationing in one home. A non-family group
is defined as unmarried young adults, high school students, college students or any other group-type situation. Properties are patrolled on a regular basis. No wedding groups, chaperoned, un-chaperoned, fraternities, school or civic groups allowed. ABSOLUTELY NO HOUSE PARTIES ALLOWED. ID’s must be furnished if requested. Violation of the above may be grounds for expedited eviction with no refund except
for the refund of such security deposits as may be required under the provisions of the Residential Tenant Security Deposit Act. The security deposit paid by the Tenant may be applied to actual damages caused by the Tenant and any other purposes permitted under the provisions of Article 6, Chapter 42 of the North Carolina General Statutes entitled “Residential Tenant Security Deposit Act.” NC Gen. Stat. 14-100 makes it
a crime to obtain any rental unit under false pretenses.

8.   PROPERTY/OCCUPANCY DESCRIPTION Our occupancy limits are determined by local health laws on homes served by septic tanks and must be adhered to. Campers and motor homes cannot be parked on the property for the purpose of extra sleeping. Some communities do not allow motor homes on the premises. In the description of each property, the maximum number of people the property will accommodate is stated. Any violation of the maximum occupancy may be grounds for immediate eviction. The occupancy numbers stated in this brochure and on this agreement are based upon the number of beds that the owner has placed in the dwelling and may or may not be consistent with the occupancy levels established by the original building permit or other governmental regulations. Atlantic Realty has not verified the state occupancy with the building permit or other governmental regulations. If you have questions or concerns related to occupancy, please contact our office. Every rental unit is privately owned and reflects each owner's personal tastes. Property reserved sight unseen is represented by Agent as realistically as possible with regards to space, physical conditions and comparisons. We advise you to tour property in advance if you have specific personal requirements or are concerned with quality, for we will be UNABLE TO MAKE SUBSTITUTIONS OR REFUNDS UPON ARRIVAL.

9.   PARKING Please be advised the parking capacity at the majority of our properties is never more than the number of bedrooms. For example, a 3 bedroom would typically have parking for 3 cars, a 4 bedroom would have parking for 4 cars. Very few properties have the capacity for more than 5 cars even for properties larger than 5 bedrooms.
With your help, we can help reduce traffic as well as improve your vacation and the beautiful environment. Parking regulations are enforced in many areas of the Outer Banks, and if your car is
parked on the street in front of the property, you risk being ticketed or towed.

10.   LOCKED CLOSETS  Most of our property owners maintain a locked area in their cottage/condo for their own personal use. These locked areas are not intended for tenants’ use.

11.   CANCELLATION POLICY Our cancellation policy requires that a fee equal to ten (10) percent of the base rent and the reservation processing fee be charged for any cancelled or changed reservation. If this reservation is cancelled, no refunds can be made until the property has been re-rented and confirmed. If the property is not re-rented, Tenant's entire advance rent payment must be forfeited, in addition, no refunds of any kind other than the aforementioned cancellation refund can be made without authorization from the property owner. No transfer can be made once the reservation has been confirmed. All cancellations MUST be received in writing. Travel insurance is non-refundable.

12.   FURNISHINGS & CLEANING Every property is equipped with basic housekeeping items such as pillows, furniture, kitchen appliances, pots, pans, dishes, glasses, and silverware. The condition of the property varies according to the age and care by the individual owner. In most cases, the following items are NOT provided: fans, blankets, bed linens, towels, port-a-crib, lawn and deck furniture, and grills. Each Tenant is expected to use the property as if it were his/her own, leave it undamaged, clean and with all trash removed from inside property and disposed of in the trash containers outside the property. Specific cleaning requirements are as follows: all kitchen cooking, eating and drinking equipment is to be cleaned and stored in its proper place. Beds should be made. Floors are to be swept or vacuumed. Failure to clean cottage as specified will result in a cleaning charge.

13.   HOUSEKEEPING SERVICE We are pleased to offer the added convenience of housekeeping service during your stay or at checkout. Our tenant cleaning service cost is very reasonable. Call our office for details and arrangements.

14.   TELEPHONES Most of our rental properties do provide telephones for local calls only. To make long distance calls, you are required to use a credit card, calling card or call collect(this also includes internet hookup). If long distance charges are incurred during your stay, you will be billed $15.00 in addition to the cost of the phone call(s).

15.   PETS  (Dogs only) Absolutely no pets permitted on any premises unless otherwise stated in the individual property description. Pets shall be limited to 2 domestic, housebroken adult dogs (no puppies). No cats permitted. Look for our “pet” icon. Pets are not allowed on many beaches during the summer months. Please consult the individual towns for ordinances regarding pets on the beach. For those properties that allow pets a $75.00 non-refundable extermination fee will be charged.

16.   GRILLING Grilling is not permitted except on concrete surfaces. Do not attempt to use outdoor grills on decks, porches, or near wooded areas. Please be sure you clean the grill and dump the ashes before you leave so the next Tenant finds it ready for use. If a gas grill requires propane, it is available at many locations and will be the responsibility of the tenant to replace.

17.   REFUNDS The Property Owner and Atlantic Realty will not be responsible for damages to a Tenant's belongings due to malfunctioning equipment or appliances. Please report any items of disrepair to our office immediately and we will have them repaired as soon as possible. There will be NO REFUND for mechanical failure on air conditioners, dishwashers, refrigerators, washers, dryers, televisions, VCR's or DVD’s. No refunds will be made for disruption of utilities including power, water and/or cable. Tenants shall be charged for any unnecessary maintenance calls requested by Tenant. There will be a charge of $20.00 if any Atlantic Realty Agent is required to unlock a rental property in the event a Tenant loses a key or locks it inside the property. Tenant will be responsible for damages resulting from any attempts to force entry into a rental property.

18.   CONSTRUCTION  New construction is a part of the Outer Banks. If your rental property is near new construction, please be understanding. NO REFUNDS OR MOVES WILL BE MADE.

19.   BEACH NOURISHMENT Some areas along the oceanfront will be part of a beach nourishment project. You may experience some inconvenience during this time. NO REFUNDS will be given.

20.   WATER POTABILITY Some areas have varying water quality so it is advisable to stock bottled water for consumption during your visit. Some homes have water treatment systems, the water may not be what you'd prefer to drink, however, it is safe to do so. Clothing washed in this water may become discolored. There will be no refunds in regards to water quality.

21.   PRIVATE POOLS/HOT TUBS Some of our homes feature private pools (some are heated) and hot tubs. Unless otherwise indicated in the individual property description, pools will be available from May 15 until October 1. (Weather Permitting) Some of the heated pools may charge an additional fee. Hot Tubs are available year round unless otherwise noted in the individual property description. Some properties may require an additional fee to make Hot Tubs available in the off season. Property Owners do not allow rentals of soft spas/hot tubs by tenants due to electrical and/or structural damage. Special risks may be involved in using pools and/or hot tubs and Tenant assumes all responsibility for himself and his guests for the consequences of those risks. Tenant agrees to waive any claim whatsoever against Owner and/or Atlantic Realty for accidents or claims arising from use of said equipment. The Tenant also understands and agrees that he is responsible and liable for damages that occur to said equipment through his or his Guest's misuse and/or negligence. Unsanitary conditions(s) resulting from Guest's use requiring additional service such as water replacement, shock treatment, etc. is at the Guest's expense.Absolutely no pets in pools or hot tubs.

22.   TAXES  All rental prices are subject to a North Carolina State Tax and County Lodging Tax. Taxes are subject to change.

23.   ERRORS Descriptions, rates, and property amenities listed in this brochure and/or agreement are subject to change without notice. Omissions, additions, or errors as well as changes in property bedding, furnishings, equipment, etc., shall not be the responsibility of Agent, Owner, or Printer.

24.   TRANSFER OF PROPERTY If this Vacation Rental Agreement is to end not later than 180 days after the voluntary transfer of the property by Landlord to a Grantee, the Grantee takes title to the property subject to the terms of the Vacation Rental Agreement. If the Vacation Rental is to end more than 180 days after the recording of the Grantee's interest, the Tenant shall have no right to enforce the terms of this agreement unless the Grantee agrees in writing to honor such term. In such event, Tenant shall be entitled to a refund of any payments made. Prior to entering a sales contract, Landlord shall disclose to the purchaser, the time periods that the property is subject to a Vacation Rental Agreement, and within 10 days after transfer of a vacation rental property, shall disclose to the Grantee, the Tenant’s name, address and copy of the Vacation Rental Agreement. Upon transfer of the property to the Grantee, the Grantee has until 20 days after transfer of the property to notify the Tenant of the transfer, the Grantee's name and address and the date the Grantee's interest was recorded; Grantee shall advise the Tenant whether the Tenant has the right to occupy the property subject to the terms of the Vacation Rental Agreement and the provisions of the Vacation Rental Act; and advise Tenant whether Tenant has the right to receive a refund of any payments made. Within 30 days from the termination of the Landlord's interest in the property subject to the Rental Agreement, all advanced rent paid by the Tenant shall be transferred to the Landlord's successor in interest and the Tenant shall be notified by mail of such transfer including the name and address of the transferee. In the event that the Vacation Rental Agreement shall end more than 180 days after the recording of the interest of the Landlord's successor in interest, unless the Landlord's successor in interest has agreed in writing to honor the Vacation Rental Agreement, Landlord shall, within 30 days transfer all advanced rent paid by the Tenant, and the portion of any fees remaining after any lawful deductions, to the Tenant. Funds held as security deposit shall be disbursed as provided in N.C.G.S. 42A-18. In the event of an involuntary transfer of Landlord's interest, Landlord shall refund to Tenant, within 60 days after such transfer, any payments made by the Tenant.

25.   AGENCY DISCLOSURE By North Carolina law, an Agent must notify you that Atlantic Realty is employed by and represents the Property Owner. Atlantic Realty will make every effort to assist you in the selection of your rental property. Atlantic Realty receives commission on some services offered to Tenants.

26.   LIMITATIONS OF REMEDIES, DAMAGES AND INDEMNITY In the event the Owner is unable to deliver said property to Tenant under this agreement because of fire, eminent domain, or if the property is unavailable because of delay in construction or because of lack of water or sewer, Tenant hereby agrees the Owner's sole liability, as a result of any of these conditions, is the refund of consideration previously tendered by Tenant pursuant to the terms of this agreement for the period of time the property is unavailable, and Tenant expressly acknowledges that in no event shall Owner be held liable for any consequential or secondary damages, including, but not limited to, any expense incurred, as a result of moving, for any damage, destruction or loss. Tenant also agrees that in the case of a double booking or occupancy by Owner, Tenant will be entitled to a full refund or all consideration previously tendered by the Tenant. If Agent is able to relocate Tenant, Tenant agrees to pay any difference in rental amount. The Tenant agrees to release and indemnify the Owner and his Agent from and against liability for injury to any member of his household resulting from any cause whatsoever, except only such a personal injury caused by the negligent or intentional acts of the Owner or his Agent. Tenant shall not be entitled to any refund due to unfavorable weather or disruption of utility services (including cable).

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The Tenant, his/her family, guests and agents shall comply with and abide by all the Agent’s existing and reasonable future rules and regulations, governing the use and occupancy of the premises and any common areas used in connection with them. Any breach of said rules and regulations may be grounds for immediate eviction with no refund of rents. Tenant is subject to the expedited eviction proceedings set forth in N.C.G.S. 42A-23 et seq. A copy of the rules and regulations is contained herein and the tenant acknowledges that he/she has read them by signing this agreement.

This document contains the entire agreement between the parties and may not be amended except by document executed with the same formality as this document.