603-356-0088

1. DEPOSITS/PAYMENTS. Make checks payable to: The TimeShare Vacation Company. All deposits paid upon execution of this Agreement will be held in escrow by The Timeshare Vacation Company®, Inc., P.O. Box 1288, Conway, NH 03818, until time of closing. Credit for deposit payments made by personal check shall be provisional, subject to final collection and payment.

2. MORTGAGE PURCHASE. If the Buyer desires mortgage financing, a credit application will be completed and submitted as part of this agreement. In such case, this Agreement is contingent upon the Buyer's obtaining a first mortgage commitment for the amount specified on the face of this Agreement. If by closing date, the Buyer fails to qualify for such mortgage financing, at the option of the Buyer, this Agreement is null and void and all moneys will be refunded to the Buyer.

3. POSSESSION. Possession of the Condominium Unit/Week, and Common Furnishings thereof, subject to the right of other Resort Ownership Interval Owners as provided in the Amended Declaration, shall be transferred as of closing, or a such other times as may be mutually agreeable to said parties.

4. ACCEPTANCE OF DEED. The acceptance of the deed by the Buyer shall conclusively be considered to be a full performance and discharge of every agreement and obligation of the Seller, express or implied in the Agreement. The terms of this document constitute the entire agreement between the parties and no verbal statements made by anyone with regard to the transaction, which is the subject hereof, shall bind the parties unless the same is incorporated herein in writing. By acceptance of the deed, the Buyer acknowledges that he will appoint the Resort Manager, as defined in the Condominium Declaration to be his agent for Service of Process and for receipt of tax notices by the town in which the resort is located. In addition, the Buyers' use and occupancy of the unit/week is subject to the Declaration of Condominium, and all existing and future amendments thereto. The declaration specifically sets forth the use time periods, responsibilities for maintenance, care and repair of the unit and its furnishings, requirements for owners of Resort Ownership intervals to share in the proration of expenses, and provisions for a lien on any owner's interest in the unit in the event the owner neglects to pay his/her share of such prorated expenses. The owner will share with others the ownership, use and occupancy of the Condominium Timeshare unit. Upon acceptance by the Seller, this document shall become a binding agreement, and is binding upon the heirs, successors and assigns of the parties hereto. This agreement is not assignable by the Buyer without the prior written consent of the Seller.

5. PUBLIC OFFERING STATEMENT: DECLARATION: RULES AND EXPENSES. The Buyer acknowledges that he will receive at the time of closing, a Public Offering Statement which sets forth the: Buyer's privileges, Amended Declaration, Article of Association and By-Laws of the Association. Buyer agrees to comply with, and acknowledges that this Agreement is subject to the provisions of the Amended Declaration and any rules adopted thereunder, all as amended from time to time, and agrees to pay his proportional share of the expenses of the Association.

6. DEFAULT BY BUYER. In the event the Buyer shall default in any payment when due, or fail to perform any other obligation of the Buyer, this Agreement may, at the Seller's option, be terminated and all amounts paid by the Buyer may, at the Seller's option, be retained as liquidated and agreed damages.

7. PERSONAL USE. The Buyer hereby represents that the Resort Ownership Interval is being purchased for the purpose of the Buyer's personal use and enjoyment. Buyer further represents that this Agreement has not been entered into for investment purposes or based upon any representation by the seller to the Buyer regarding rental opportunities.

8. MAINTENANCE FEES. An annual maintenance fee for each interval is payable to the Seller on or before the date of occupancy of the unit/week. If closing occurs prior to the date of occupancy in the year of closing, the Buyer shall pay the annual maintenance fee to the Seller at the time of closing.

9. CLOSING FEES AND EXPENSES. The Buyer shall pay for the cost of preparation and recording of the deed, plus100% of the State Transfer tax. In addition, if the Buyer requires a title examination and/or opinion, these costs will be underwritten by the Buyer, as well.

10. REQUIRED DISCLOSURES. SEPTIC AND WELL: The Seller represents that to the best of their knowledge that during the period of its ownership, the septic system has required only routine maintenance and cleaning and that the system is maintained by the Resort Association. The Seller further represents that the Condominium is served by a public water supply. RADON GAS: Radon gas, the product of the decay of radioactive materials in rock, may be formed in some areas of New Hampshire. This gas may pass into a structure through the ground or through water from a deep well. Testing can establish its presence and equipment is available to remove it from the air or water. LEAD PAINT: Before 1977, paint containing lead may have been used in structures. The presence of flaking lead paint can present a serious health hazard, especially to young children and pregnant women. Tests are available to determine whether lead is present. UREA-FORMALDEHYDE: Before 1983, urea-formaldehyde foam insulation may have been used in a new home or manufactured housing. Urea-formaldehyde resin may also be contained in particle board or fiberboard or any similar construction material used in housing units or manufactured housing. For some people, urea-formaldehyde may cause health problems. If you have a question about problems you may have with urea-formaldehyde, consult a doctor.

 The TimeShare Vacation Company
P.O. Box 2360
North Conway, NH 03860