Derecho

Time Sharing Contract

We, (names and personal characteristics of the parties and their representatives), agree to enter into this contract, which will be governed by the civil and mercantile laws of the Republic of Costa Rica and the following clauses:
FIRST: The seller is the owner of a tourist development located in the district of (name and #), canton (name and #), province (name and #),built on the property of the circuit of (name of the province), registration ( # ). SECOND: the seller agrees to sell and the buyer accepts to buy in this act a right for the use and enjoyment of a vacation program which consists of one week per year for a term of fifteen years, which shall be paid . THIRD: This purchase sale agreement grants the buyer the right to occupy one habitat ionalunit, on the designated week for a term of fifteen years starting on the date designated in this contract. This right is not divisible in its use and enjoyment, selling only whole periods of seven nights. There is the possibility of internally exchanging the use period at the Hotel ____, subject to availability of space, if and when the interchange is for the user within the same category or one oflesser category for the use period acquired. The contracting parties state, and it is so expressly accepted, that it is understood as type of season the weeks listed as follows:

TYPE WEEKS INCLUDED

AAA Week 52
AA Weeks 1 to 8 and 26 to 28
A Weeks 9 to 15, 29 to 30, 47 to 51
B Weeks 16 to 25 and 31 to 46
The buyer is obliged to make the reservation at least thirty natural daysin advance, and he must be current with the monthly payments (if it is on credit) of the price which is the object of this purchase sale agreement, as well as the maintenance quota. In case of a delay, the buyer must pay the corresponding interest for late payment. If said delay in the payment is for one or more quotas this contract may be rescinded as a matter of right on the part of theseller, which in this act is expressly consented to and authorized by the buyer, expressly waiving any administrative and/or judicial claim in this sense, and it is clearly understood by the latter that all payments made to the seller will be left in his favor as a sole and definite payment for damages, and the seller is not under the obligation to reintegrate any money for the contractualrelationship established herewith. FOURTH: For all effects of the previous clause, the seller assigns and transfers to the purchaser the rights to use and enjoy the week acquired by this act. The buyer will thus be able to enjoy the unit during said annual week and must subject himself in all to the regulations annexed to this contract. FIFTH: The price of the sale mentioned above shall be paid at thedomicile of the seller or wherever the seller designates for this purpose. The buyer irrevocable guarantees the balance of the obligation acquired by this contract, with the same right of use and enjoyment in the same manner conferred by this contract. In case of non compliance on the part of the buyer in the payment of one of the main quotas or of the interests thereof, he expressly andirrevocably by this means authorizes the seller to rescind all of this contract as a matter of right on the part of the seller, and the down payment and the pertinent payment to the principal and interests already made by the purchaser Hill serve to cancel any amount for damages eventually caused to the seller. For this reason, the buyer waives any administrative or judicial claim in that senseand expressly recognizes each and all obligations acquired. SIXTH: In the unit object of this contract, there are currently furniture and utensils which will be indicated in the inventory list, that prior to an inspection of the user, both parties will sign as an indication that the user agrees to use during the week that presently corresponds to him and said property must be returned in the same...