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MEMBERSHIP TERMS AND CONDITIONS

Definitions

  1. CLUB: The THIRDHOME Luxury Vacation Home Exchange and its active members.
  2. HOST MEMBER: The THIRDHOME member owning a home that is being visited by a Guest member with a confirmed reservation.
  3. GUEST MEMBER: The THIRDHOME member who has a confirmed reservation to stay at the home of the Host member
  4. ACTIVE MEMBER: A member who has been admitted to the club, has paid all fees due, and acts pursuant to the guidelines of club behavior
  5. OPERATIONAL SEASONAL CALENDAR: The classification of each week by THIRDHOME as either Off Season, Non Peak, Peak or Super Peak (previously called "Holiday") for a home’s geographic location, as shown in the THIRDHOME deposit calendar. The numbers of Keys offered varies by season as shown on this calendar.
  6. SEASONALITY: The predictable annual change in seasons for your specific geographic location that influence its appeal for vacation travel.
  7. CLUB DEMAND: The desirability of a given week based on historical booking behavior and stated interest of our members.
  8. KEYS: The currency used in the THIRDHOME system. Keys are earned by making deposits of empty weeks in your home for other members’ use.
  9. TIMELESS KEYS: Keys that never expire
  10. SUPER PEAK WEEKS: Weeks that are highly coveted for travel in the club and for which supply normally is well below demand. This will include holidays and special events in select geographies based on historical club demand. And includes non-holiday weeks in the most desired locations.
  11. PEAK WEEKS: Weeks that are considered the most attractive times for a given geography, such as the best snow periods for a popular ski destination.
  12. NON-PEAK WEEKS: These are sometimes called “shoulder” weeks. They are of interest to travelers who are flexible in their travel times. They are not the most sought after periods for a given geography but still can be good for visits.
  13. OFF-SEASON WEEKS: These are weeks that are traditionally not desired for travel to a specific geography. Reasons for this include being too hot, not having snow, being rainy season, or not matching a traditional vacation time, etc. These do not earn Keys unless booked by another member.
  14. LAST MINUTE WEEKS:Weeks that are deposited with only a short window for booking until the travel date arrives (90 days; 60 days for select affiliates). These do not earn Keys for the host unless booked by another member. Note that weeks deposited with less than 30 days until date of arrival are not eligible for the Chairman's Club and Chairman’s Club Preferred 30 day or less Keyless booking benefits.
  15. BUSINESS DAY: Monday through Friday, not including traditional holidays.

As a Host Member and Guest Member of 3RD HOME Limited, doing business as THIRDHOME, you understand, consent and agree to the following terms and, in doing so, you agree to review these Terms and Conditions, and all amendments thereto, each time you deposit and/or book property with THIRDHOME, and in connection therewith, to endorse such amendments as a condition to the continuation of your Membership (for Host Members and Guest Members):

A.    THIRDHOME'S ROLE

Members acknowledge that THIRDHOME is in no way acting as an agent to any party, for any purpose, or as a real estate broker or agent for any property. Instead, THIRDHOME provides a database of vacation homes for Members to view, as more fully described in Section B, below. THIRDHOME receives nominal fees for its web and customer services, pursuant to the fee schedules, herein.

B.    THE KEY PROGRAM

I. Membership

(1) By paying the initiation fees outlined below and as the owner of an accepted property, you then become an approved member of THIRDHOME. To become active, members need to deposit at least one non-last minute Key earning week into the club for other members to use, or otherwise, deposit a last minute week that is booked. This action provides the member with credits in the form of "Keys" that can then be used on available properties in the club.

II. Keys

(1) As a Member, the ability to use another home or property in the program is granted by the acquisition, and then utilization of "Keys."

(2) To deposit time, Members use the Deposit Calendar facility on their account. Members select and make deposits in weekly increments. There is no limit to how many weeks a Member can deposit, however THIRDHOME reserves the right to withdraw any deposited week, decline any week, or offer to accept a week deposit on a “keys only when booked basis” at their sole discretion. This may be done to limit the amount of inventory on the system at any time for that property, destination or week, or may be based on low demonstrated member interest for that specific property, location or week, or any other reason at THIRDHOME’s discretion. At the point of deposit, all relevant Keys will be credited to the Member’s account. Unless granted with Timeless status (via special promotions and for deposits by Chairman's Club and Chairman’s Club Preferred Members), all Keys have a 15-month (24 months for President’s Club members) lifespan from the day they are credited to a Member's account. So, if you receive Keys today, you have 15 (24) months to use them before they expire. For clarity, Keys only have to be used to make reservations within this 15 (24) month period, but the bookings can be at any point in the future that is available.

(3) Weeks are accepted on a same day basis, i.e. Saturday-to-Saturday or Wednesday-to-Wednesday, without exception. Once chosen, all weeks for a given property will follow the same basis unless changed by calling THIRDHOME Member Services. For each week deposited more than 90 days in advance, (as long as not Off Season), Members earn the relevant number of Keys attributed to that particular week. These Keys are then instantly credited to their account. Credited Keys are then immediately available for Members to use, in order to book other properties in the club. All Keys acquired in this method by a Member can be used regardless of whether their deposited weeks are booked by other Members. Members can also deposit last-minute weeks, to take advantage of short-term availability, and those Off Season. In this instance, for all weeks that fall within 90 days of depositing, and Off Season, Members will receive the relevant number of Keys only if those weeks are actually booked and used by another Member. THIRDHOME may choose to offer a shorter deposit window, such as 60 days, to select affiliates. This will be noted on each individual’s Deposit Calendar where that applies.

(4) Once a week is deposited into THIRDHOME, it is mandatory that it is blocked out for Guest Member use by the Host Member. If one of our Members reserves one of your deposited weeks, you are contractually bound to honor the reservation and allow the Member to stay in your property for that booked period.

(5) Deposits are made in weekly increments and Keys are likewise granted in weekly increments. However, actual usage may vary. For example, if a Guest Member wants to only use a property for just 4 days, this is still considered a weekly increment. If a Guest Member wants to use a property for nine (9) days, then they will need to book the property for two weekly increments by using all of the relevant Keys and paying all necessary fees.

(6) Once deposited, weeks belong to the Club. If these weeks have not been reserved by a THIRDHOME Member, Host Members can withdraw these weeks for personal use or for conventional renting as long as they have enough Keys in their own account to return to the Club to cover the withdrawal. Under no circumstances can a Host Member withdraw a week at any time that has been booked by another member. The withdrawal of a week in these circumstances will be deemed a “Non-honored” booking and as such subject to the restitution process outlined below.

(7) For clarity, there are no time constraints on the ability to withdraw deposited weeks, as long as Members adhere to these conditions. If a particular week has not been reserved and a Host Member is unable to return the requisite number of Keys, THIRDHOME cannot return the week to the Member. In this instance, a Host Member can deposit additional weeks in order to gain Keys to cover the weeks they wish to withdraw

(8) Once a week has been booked by another THIRDHOME Member, Host Members are contractually bound to honor the agreement. An electronic confirmation will be provided to both Host and Guest Members when the Guest Member reserves a week and the relevant fees are paid to THIRDHOME. On booking, the agreed number of Keys is automatically debited from the Guest Member's account.

(9) THIRDHOME reserves the right to modify (upward or downward) the number of Keys Host Members receive for a particular deposited week, as well as whether such Keys are earned upon deposit, based upon a property reevaluation, past member interest for that specific property or week, or a recalibration of the Operational Seasonal Calendar which THIRDHOME reserves the right to perform at various times, and in its sole discretion. By way of illustration, the number of Keys expected to be offered for weeks deposited in the calendar year ending December 31, 2016, will range from 1 to 15 Keys per week. However, THIRDHOME reserves the right to modify its valuation formula from time to time and accept properties whose Key value falls outside of this range, in its sole discretion.

(10) A Member is permitted to let close friends and family benefit from their membership to the Club. However, you agree to be wholly and solely responsible for the actions and conduct of your guests while they are staying in another member's home. In all cases, the primary guest must be 25 years of age or older when not accompanied by the Member. As the Guest Member, you are responsible for obtaining consent from the Host Member for others to use the booking you have made in their property. This is to be done in the form of a written request by the Guest Member to the Host Member and the Host Member needs to agree to such provisions. Such permissions cannot be unreasonably withheld by the Host Member.

(11) THIRDHOME reserves the right, at its own discretion to reverse any reservations or deposits that are intended to game the system or incentives. THIRDHOME members are not permitted to book their own property or week deposits.

III. Membership

(1) The initiation fee to join the club is $2500. THIRDHOME may at times waive the initiation fee for members of specific affiliated resorts or those that make qualifying deposits upon joining.

(2) There is no required annual membership fee. Members may choose to be in the Member’s Club and pay no annual fee, or they can at any time, upgrade their membership and attain benefits as described on the website by paying an annual membership fee. That fee is currently $495 for a one-year term in the President’s Club or $1995 for a one-year term in the Chairman’s Club Preferred. Upon expiration of any paid term, Members can choose to pay the Membership Renewal or return to the Member’s Club with no annual fee.

(3) Members shall pay additional fees for each week reserved. These Fees vary based upon the number of Keys used. The Fees range from $395 to $995 per week booked and are dictated by the number of Keys used for a particular booking; 1 Key = $395, 2 and 3 Keys = $495, 4 and 5 Keys = $595, 6 and 7 Keys = $795, 8 Keys or more = $995. THIRDHOME will at times offer promotional discounts or other unique opportunities which may change the fee and will be disclosed prior to any reservation.

(4) Any credits provided to Members within the program may be used to offset initiation, membership and exchange fees, unless specifically noted, but have no cash value and are not transferable.

(5) THIRDHOME may change the fees for Initiation, ongoing membership, and exchanges at any time.

C.    HOST MEMBERS

I. Home Representations

(1) As a Host Member, you warrant that the representation of your home(s) on the Club website accurately depicts your property, facilities, services and amenities on offer through the description and photographs you provide to THIRDHOME. You likewise warrant and represent that all photographs are current, and that they accurately portray your property’s current condition and that you have the rights or the requisite consent to use the photography in this manner.

(2) The value of your home, seasonality and Club Demand determine the number of "Keys" that you will receive per week deposited into the Club for Member use. Therefore, you acknowledge that it is important that you accurately represent the true and current value of your property (ies), in the "current" economic climate. This true value is the actual value that your property would sell for within a normal six month listing with a qualified brokerage firm in your area.

(3) THIRDHOME retains the right to adjust your property’s (ies) value should they feel as though it is over or under represented in the Club. The reevaluation process is not limited, and may include a review of comparative properties in your area, real estate reports or local Realtor opinion. Adjustment may also be necessary if the home generates low booking interest at its then current valuation. You acknowledge that if your property has been found to be mis-represented then all currently retained Keys and deposited weeks will be adjusted to the revised value. If you are in disagreement with the findings of the reevaluation process, you retain the right to remove the property from the club. Such action will result in the withdrawal of any outstanding Keys related to that particular property. Any fees already paid to THIRDHOME will be retained by the club. Any outstanding reserved weeks that were booked using the Keys granted from that property will be honored by THIRDHOME. In the same vein, all outstanding booked weeks in the property in question are to be honored by the Host Member. You acknowledge that if you misrepresent your property, your Membership is subject to forfeiture. THIRDHOME retains the right to cancel your Membership and to revoke any Keys in your account, in the event of a misrepresentation.

(4) The attractiveness and completeness of your property page listing directly impacts the appeal to other members. Accordingly, THIRDHOME reserves the right at any time to request that a member add or replace photographs, or enhance their property details. Failure to do so can result in temporary or permanent suspension of club privileges.

II. Rental Income

(1) THIRDHOME is not a rental program and therefore it does not allow a Member to receive rental income for use of Keys or the bookings they have made. Nor can the Member transfer, trade or sell the above for value. Receipt of rental income, or transferring Keys or reservations beyond the terms of the club, subjects the Host Member to forfeiture of both their Membership and any Keys in their account.

(2) In like manner, no Host Member is permitted to charge or require security deposits from a Guest Member at any time or under any circumstances.

(3) THIRDHOME has the right to terminate Membership and take back any Keys if any form of rent or unauthorized charge is obtained by the Host Member that is not clearly stated in the property description on the THIRDHOME website.

III. Property Services and Furnishings

(1) As a Host Member, you warrant and agree that all ordinary and customary services will be made available to the Guest Member including, but not limited to, electricity, gas, water, sewage treatment, and a telephone with the facility for local calls, and that all customary appliances provided in the home are in good and working order.

(2) The Host Member also agrees to make any necessary arrangements to provide the Guest Member with access to the normal amenities associated with the property. If extra services are available or required with an extra expense to the Guest Member, then Host Member agrees to notify THIRDHOME of these service charges, in order to be approved by THIRDHOME, in advance, and posted thereafter on the Host Member’s property page. Host Members cannot under any circumstances charge Guest Members for services that that have not been outlined on their property’s description. Such action could result in the forfeiture of both membership and any Keys in your account.

(3) The Host Member warrants and represents that the property is appropriately furnished to the level outlined in the description for Guest Members to fully enjoy their vacation experience including linens, cooking utensils and customary supplies. Failure to furnish appropriately for the property for Guest Members could subject the Host Member to forfeiture of both their Membership and any Keys earned.

(4) A Host Member is likewise responsible for providing adequate information to a Guest Member and agrees to provide such, for information related to, but not limited to, security systems or security measures, AC/heating system, entertainment systems and appliances.

(5) It is the responsibility of the Host Member to maintain the landscaping, pool, driveway and exterior, where appropriate.

(6) Host Member further agrees to have current appropriate Home Owners Insurance to provide customary coverage for Guest Members, including coverage for any non-paying invitees staying in their home. Host Member agrees to provide Proof of Insurance to THIRDHOME, if requested (Most Home Owners Insurance automatically covers guests staying at your property, but this needs to be checked and verified by the Host Member.)

(7) As a Host Member, you further agree to have your property clean and ready for occupancy by the Guest Member, upon arrival. THIRDHOME maintains a clean property policy, commensurate with Four to Five Star hotel standards. There are no exceptions to this rule; failure to adhere to this policy subjects the Host Member to forfeiture of both their Membership and any Keys earned. The Host Member is also responsible for cleaning the property, following the Guest Member's departure. If as a Host Member you offer daily maid service or mid-week cleaning, this can be offered at a cost to the Guest Member, but such costs must be outlined on your property’s description page prior to a reservation.

(8) Host Member understands that each Guest Member is responsible for damages while they occupy a Host Member’s property; however, if for any reason the Guest Member does not take full responsibility, THIRDHOME will reimburse Host Member for up to $5,000, $10,000 or $15,000 (based on THIRDHOME Membership level) for accidental damages incurred while Guest Member is a guest to the extent caused by Guest Member and to the extent not otherwise covered by Host Member’s policy.

As a benefit to its Host Members, THIRDHOME provides its Host Assurance Plan, with limits of $5,000 for Members Club; $10,000 for President’s Club; and $15,000 for Chairman Club/Chairman’s Club Preferred/Chairman’s Club Plus or Founder’s Circle or its equivalent. The details of this benefit are outlined in the THIRDHOME Host Assurance Plan Terms and Conditions, which outline the benefits of this plan and which set forth the easy to follow protocol to submit a Payment Request Form and a Proof of Loss Form for covered losses.

(9) Host Members are not permitted to cancel any booked weeks in their property for any reason. If a Host Member chooses not to honor a booking, a refund of all Keys will be made to the Guest Member. In this instance, by way of restitution, the Host Member is responsible for the refund of the exchange fee to the Guest Member via THIRDHOME, as well as for any costs incurred by the Guest Member in relation to the booking. Failure to pay such costs, upon demand, shall subject a Host Member to forfeiture of their Membership and any Keys earned. Member agrees to be financially responsible for all consequential damages sustained by a Guest Member resulting from the failure or refusal of a Member to make available a home to a Guest Member following the completion of a confirmed reservation. Such costs explicitly include, but are not limited to air travel cancellation fees or change fees, and/or the cost to secure alternate equivalent accommodations at the destination on those dates. In connection herewith, the Member consents to the entry of a judgment in an amount equal to the damages, costs and expenses set forth above and that the appropriate venue for the entry of the aforementioned consent judgment will be the Chancery Court for Williamson County, Tennessee, in Franklin. In connection with the enforcement of such consent judgment, the Member also agrees to be responsible for THIRDHOME's litigation costs and expenses, including but not limited to attorneys' fees. In connection with the aforementioned litigation, the Member waives any objection to the jurisdiction, or venue, of the State Courts of Tennessee, and consents to said courts for the adjudication of the claims set forth herein.

IV. Right to Inspection

THIRDHOME occasionally has inspectors stay in Member homes for the purpose of inspecting the property and writing comments. This practice benefits all Members and allows THIRDHOME to maintain the highest industry standards. In addition, THIRDHOME occasionally grants Keys to employees, directors, board members, partners, and other individuals associated with the company. Each inspector or associated individual follows the same Member Terms and Conditions, and agrees to treat a home just as any other Member. You hereby consent and agree to allow such guests to reserve weeks at your property for such inspections and/or visits, under the same terms as any Member.

V. Cancellations

If a Guest Member cancels their reservation, for any reason, there are no refunds available to the Guest Member of either fees or Keys. THIRDHOME has tried to make this program as flexible as possible for owners/Members and this policy is in the best interests for both Host and Guest Member. In the event of a Guest Member cancelling, it is their responsibility to notify the Host Member and THIRDHOME. THIRDHOME will re-post the week for other members to potentially reserve and in the event that it is reserved, the Guest Member will receive a refund of their Keys. Any fees paid to THIRDHOME are non-refundable and no credits will be granted.

VI. Host Communication

As a host, you agree to allow the guest member to contact you directly via email, phone or other method of communication regarding all reservations.

VII. Request a Week

(1) The THIRDHOME Request a Week function was created to allow members to inquire about the availability of weeks at specific properties not currently deposited on the site. The Request a Week button resides on each participating property page. As a member in the club, you will from time to time receive inquiries from other members using the Request a Week function about your willingness to make your home available on a specific week.

(2) There are two types of Request a Week processes. One for INDIVIDUAL PROPERTY owners, and one for MATCHING RESORT PROPERTY owners.

(3) INDIVIDUAL PROPERTIES: As an individual property homeowner, you will from time to time receive requests. This may be via a system-generated email or via a direct contact from the member services team. (a) For system generated requests, you will be notified via email, and also in your THIRDHOME account that a member is interested in your property for a specific week and the amount of Keys offered. It is completely at your discretion whether to respond to this request. You have 72 hours to either accept or “actively” decline the request. If you do not reply, it will be passively denied after 72 hours. Each request will indicate the amount of Keys being offered for that week. If you accept, you will immediately have the appropriate number of Keys transferred into your account from the guest. If you accept a week request, you are giving that week to THIRDHOME for use by the guest and will reserve that time on your calendar. If you choose to decline the request, you can indicate to us in your response if you would (i) accept the request if more keys were offered, (ii) can offer a different week, or (iii) if you just want that week removed from future requests. (b) For more complex requests from members, our Member Services Team will contact you via phone or email to communicate the interest of another member. It is completely at your discretion whether to respond to this request. You can indicate if you are willing to host on that date requested, or present an alternate, and indicate the amount of Keys you require. If you make such an offer, and the guest party agrees, you will be asked to make the week deposit on the system under such agreed terms to confirm your agreement. The Member Services Team will adjust the price of Keys if needed to match the agreed upon amount, and assign that week to the requestor. You are bound to honor that request when reserved by the guest. You are giving that week to THIRDHOME for use by the guest and will reserve that time on your calendar.

(4) GROUP PROPERTIES: As a homeowner at a property for which the THIRDHOME club has multiple matching units, you will from time to time receive requests as part of that group. You will be notified via email, and also in your THIRDHOME account that a member is interested in your property for a specific week or weeks. It is completely at your discretion whether to respond to this request. You have until 9am eastern US time of the next Tuesday to either accept one of the weeks requested or “actively” decline the request. Each request will indicate the amount of Keys being offered for that week. You must be the first to accept as this is being presented to all owners of the identical property. If you are the first to accept, you will immediately have the appropriate number of Keys transferred into your account from the guest (pending confirmation that you own that week if you are part of a THIRDHOME Affiliate). If you accept a week request, you are giving that week to THIRDHOME for use by the guest and will reserve that time on your calendar.

(5) If you do not respond within designated timeframes, (and it is not accepted by another Owner, for grouped properties) the request will be deemed "passively" declined by the system.

(6) You can choose to opt out of request a week in the “Edit Your Profile section of your MY THIRDHOME account. By doing so you can neither make nor receive requests.

(7) All other terms and conditions apply to Hosts and Guest Members, as normal in the club.

D.    GUEST MEMBERS

I. Property Responsibilities

(1) While you are not responsible for cleaning of linens and floors, as a Guest Member, you do agree to leave the property in the state that you found it.

(2) Guest Members are not required to perform routine cleaning of the property that would ordinarily be performed by a cleaning or maid service. However, it is the responsibility of the Guest Member while at the property to be environmentally and financially conscious with the use of energy (heating or AC) and water, especially in island homes where water sources may be very limited.

(3) Guest Members are fully responsible for the activities and actions of those who use the Host Member's property during the dates of the reservation including family members, guests and invitees.

II. Indemnification

(1) Guest Member agrees to indemnify and hold harmless the Host Member, members of the Host Member's family, and THIRDHOME against any and all claims, damages, costs and other expenses including attorney fees, arising out of, or otherwise related to, any death, personal injury or property damage arising out of the use of the property by Guest Member, Guest Member's family or invitees of Guest Member, unless caused by the gross negligence or intentional misconduct of the Host Member.

(2) As a Guest Member, you agree to be financially responsible for any damages caused to the property, whether caused by you, your family members, guests, or invitees. THIRDHOME requires that each Guest Member reimburse the Host Member for any and all such damages that may be caused by their stay; however, THIRDHOME will guarantee payment to the Host Member for covered damages (as per the Host Assurance Plan, with limits of $5,000 for Members Club; $10,000 for President’s Club; and $15,000 for Chairman Club/Chairman’s Club Preferred/Chairman’s Club Plus or Founder’s Circle or its equivalent. The details of this benefit are outlined in the THIRDHOME Host Assurance Plan Terms and Conditions) to the extent not reimbursed by Guest Member. However, THIRDHOME retains the right to seek recoupment of said payments to the extent paid due to or as a result of Guest Member’s failure to cover such damages. Should THIRDHOME have to do this, the Guest Members rights and privileges as a member shall be forfeited, and result in the loss of any Keys in your account. In addition and in this situation, the Guest Members are also liable for any legal costs incurred by THIRDHOME as part of this restitution process.

(3) As a benefit to its Host Members, THIRDHOME provides its Host Assurance Plan to cover defined losses (secondarily) that are sustained by Host Members to certain property in covered accommodations. Guest Members acknowledge that they are primarily responsible for all damages caused by them and their guest/invitees, and that the existence of the Host Member benefits provided by THIRDHOME to its Host Members, per its Host Assurance Plan does not relieve, dismiss or otherwise release Guest Members from their financial responsibilities, as enumerated herein.

III. Disclosures

The Guest Member will accurately report, in advance, the number of people staying in the property (whether family or as invitees) and agrees not to exceed the property’s occupancy number (sleep number). Anytime before or during a reservation that the Guest Member’s party exceeds maximum number allowed or agreed, the Host Member reserves the right to cancel the reservation and the Guest Member will have to seek alternative accommodation at their own cost. In these instances, the Host Member may be willing to allow the booking to continue on the condition that a number of the party are accommodated elsewhere to conform to the maximum allowable occupancy. This will be at the discretion of the Host Member and proof will need to be provided that the maximum agreed occupancy has been exceeded.

IV. Pets

No pets are allowed unless the property description specifically allows for pets. Your confirmation must state that pets are allowed. Upon receipt thereof, the Host Member is to be notified by a Guest Member of the Guest Member's intention to bring pets, as well, of the types/breed of such pets. Any violation of this policy could result in the forfeiture of Membership and any Keys. If pets are allowed and agreed to by both parties, the owner of the pet is responsible for the yard cleanup of any pet "deposits."

Service animals are permitted so long as permission has been granted by the Host Member. A Guest Member or Member’s of their party are not permitted to stay at a Host members property with a service animal without the requisite permissions from the Host Member.

V. Occupancy and Other Use Restrictions

(1) THIRDHOME maintains a strict No Smoking Policy for all properties. No exceptions. The No Smoking Policy extends to, and includes in and around the home, and prohibits the discarding of cigarette butts at, on or anywhere near the premises.

(2) Long distance phone calls are prohibited, and such calls will not be made from the Host Member's property, where a charge may result to the Host Member. All long distance calls should be made via the Guest Member's cell phone, or charged to the Guest Member’s credit card or as a collect call. Unauthorized violation of this policy could result in the termination of Membership privileges.

(3) As a guest, you agree to allow the host member to contact you directly via email, phone or other method of communication regarding all reservations.

(4) You agree not to contact another THIRDHOME Member, unless you have received a reservation confirmation. Once an Exchange is booked through the THIRDHOME system, THIRDHOME will then provide both Host and Guest Members with reciprocal contact information and any other necessary information to arrange the stay. It is the responsibility of each Member to keep this information up to date, at all times.

VI. Arrival and Departure Policies

(1) Guest Member agrees to leave the property on or before the ending date outlined in the confirmation agreement, and in the same good condition as when they arrived. You agree to check-in to the property no earlier than 4pm on the afternoon of your booked arrival, and to check out no later than 11am on the day of your booked departure, unless alternative timing arrangements have been made with the Host Member.

(2) Guest Member will immediately return any keys or security codes to the Host Member in the fashion requested by the Host Member.

(3) Following any stay, Members agree to provide feedback to THIRDHOME via the THIRDHOME website. The Guest Member should provide details about the property and their experience and the Host Member should provide comments on the Guest. This way, Members will have more information about the properties prior to booking an exchange. Feedback will contribute towards a Member's rating which is combined score from comments Members receive from being both Host and Guest Members. Members' ratings will be closely monitored and if they drop below a certain level, Members risk having their Membership privileges rescinded. THIRDHOME reserves the right to post all feedback given about members and their properties on the THIRDHOME site for the benefit of all members.

VII. Request a Week

(1) The THIRDHOME Request a Week function was created to allow members to inquire about the availability of weeks at specific properties not currently deposited on the site. The Request a Week button resides on each property page. As a potential guest, you may Request a Week for any property listed showing the request a week button at any time.

(2) For individual properties, only weeks that are not currently available on the site, and were not permanently declined by the host are available for requests.

(3) Only one week may be accepted for each request submission.

(4) There are two types of Request a Week processes. One for INDIVIDUAL PROPERTY owners, and one for GROUP PROPERTY owners.

(5) INDIVIDUAL PROPERTIES: You may initiate a request for any non-affiliate property showing the “Request a Week” Button. (a) You can identify the property and single date of interest, and offer online the amount of Keys you will be willing to give the host. Your minimum offer is one above the standard Key amount for that week. Your offer will be extended to the owner of that property immediately once system approved. The amount of Keys you offer will be held until your offer is accepted or until the offer is declined (at which time they will be returned). When you submit the request you are committing to reserve the week, and if accepted, the Keys you offer will be immediately debited from your account. If your request is accepted, you will be required to pay the exchange fee to complete the transaction and to receive the contact information of the Host Member. There is no extra charge for this completely online service. (b) For complex requests involving multiple properties, alternate dates, multiple weeks, and/or dates that do not match the deposit calendar, you should start by contacting THIRDHOME Member Services. The THIRDHOME Team member will note your request, including your account name, the requested property, your preferred start date, any alternate dates, the Key amount offered, the number of individuals in your party, and any additional notes. He/she will give you any advice in regards to dates, Key values, and potential success, based on any previous requests for this location. THIRDHOME may elect to not forward your request based on knowledge of the host’s preferences, past requests made, and success rates for the property. Every request made must be for at least one Key more than the standard amount for that week and property. You will be required to sign a simple agreement that commits you to reserve the home if your criteria are met before work begins. No Keys will be withheld at that time, but you are required to have that amount in your account. The actual amount of Keys required for the week, and the associated exchange fee you must pay, will be based on the final Key amount agreed between you and the host. If the host agrees to your request as submitted, or a subsequent counter offer, if any, you are committed to that reservation. For each successful request, you will be debited the associated Key amount, and will pay the associated exchange fee, plus a success fee of $200 per week to complete the transaction and to receive the contact information of the Host Member. Fees will be charged only if the request made is secured for the requestor. Only one date can be reserved per request.

(6) GROUP PROPERTIES: You may make a request for a single resort property and type at a time via the request a week for groups button. You will identify the property and date of interest, and offer an amount of Keys you will be willing to give the host. Your offer will be extend to all owners of that property type and deposit calendar on the upcoming Friday. The amount of Keys you offer will be held until your offer is accepted or until the offer period is closed (at which time they will be returned). When you submit the request you are committing to reserve the week, and if accepted, the Keys you offer will be immediately debited from your account. If your request is accepted, you will be required to pay the exchange fee to complete the transaction and to receive the contact information of the Host Member.

(7) Any requests from hosts not responded to within designated timeframes, will be "passively" declined by the system.

(8) THIRDHOME will make best efforts on behalf of guests to contact the hosts for Individual property requests, but no time frames can be promised. Guest offers are considered open until either accepted by the host or cancelled by the guest and confirmed in writing by Member Services. All requests for stays at grouped properties will be responded to within 5 days from the first Friday following your request. If a Host Member does not respond within the time-frames, the request will be systematically declined, to ensure that guests receive timely feedback and have the ability to make other travel plans.

E.    THIRDHOME'S WEBSITE

I. Ownership

(1) THIRDHOME’S website is owned, controlled and operated by 3RD HOME Limited. Any reproduction of the site, without the expressed written permission of THIRDHOME is strictly prohibited and punishable by law. All content on the website, including, but not limited to text, images, illustrations, audio clips, and video clips, is protected by copyright, trademark, service mark, and/or other intellectual property laws (which are governed by U.S. law and worldwide copyright laws, as well as treaty provisions, privacy and publicity laws, as well as communication regulations and statutes, where applicable), and are owned and controlled by 3RD HOME Limited, or its affiliates, or its third party content providers, merchants, sponsors and licensors (collectively "Providers"). All such providers have licensed their content or the right to market their products and/or services to 3RD HOME Limited, for use on said website.

(2) Any photos or descriptions submitted by a Member become the property 3RD HOME Limited. You represent and warrant to us that the information posted by you including any photographs, is posted by you and that you are the exclusive author of the information and the exclusive owner of the photographs. In doing so, you assign to us, with full title guarantee, all copyrights with respect to any information and photographs which you post, and any additional information sent to us at any time in connection with your use of the service. As a member, you agree to indemnify and hold harmless THIRDHOME, and take full financial responsibility, for any fines levied on THIRDHOME, or any costs incurred by THIRDHOME, as a result of the photos you place on the site. You agree to immediately reimburse THIRDHOME for any damages we incur as a result of the photos you post.

II. Content Use

(1) Content on the website or any website owned, operated, licensed or controlled by the Providers is solely for personal, non-commercial use.

(2) Members may only use the website to make exchanges or bookings, and not for any other purpose, including without limitation, making speculative, false or fraudulent exchanges.

(3) Members may print a copy of the content and/or information contained on the website, but only for personal, non-commercial use. Under no circumstances may you copy, reproduce, republish, upload, post, transmit, distribute, and/or exploit the content or information in any way (including by e-mail or other electronic means) for commercial use, without the prior written consent of 3RD HOME Limited.

(4) The name THIRDHOME and its logo are registered trademarks of 3RD HOME Limited. Any use, without the written permission of the company, is strictly prohibited.

(5) You absolutely and without condition waive any and all rights to be identified as an author of THIRDHOME’s website information, or the owner of any photograph(s) posted by you, and any similar rights are equally waived, in any and all jurisdictions, domestic or abroad.

(6) Other Members may post copyrighted information, which has copyright protection, whether or not it is identified as copyrighted. Except for that information which is in the public domain or for which you have been given express written permission, Members will not copy, modify, publish, transmit, distribute, perform, display, or sell any such proprietary information. By posting information, photographs or content on the service, you automatically represent and warrant that you have, free of charge, an irrevocable, perpetual, non-exclusive, royalty-free, fully-paid, worldwide license to use, copy, perform, display, promote, publish and distribute such information, content and photographs and to prepare derivative works of, or incorporate into other works, such information and content, and to grant and authorize sub-licenses of the foregoing.

F.    WAIVERS AND DISCLAIMERS APPLICABLE TO THIRDHOME

(1) In no event will THIRDHOME, its employees, officers, directors, advisory board members, agents or affiliated companies (i.e., any Sponsors, Partners, Real Estate Developers, Home Owners Associations, Individuals or Real Estate Sales and Marketing companies that have a business relationship with THIRDHOME) be liable to Host Members, Guest Members, or any family members or other guests regardless of the form or nature of the claim or action, whether under the exchange agreement, in warranty, in contract, in negligence, strict liability or otherwise, for an amount that exceeds the exchange fee paid by Guest Members. Accordingly, both Host Member and Guest Member waive any such claim or right and agree to the aforementioned monetary limitation, as a condition to Membership.

(2) In no event will THIRDHOME, its employees, officers, directors, contractors, agents or affiliated companies (i.e., any Sponsors, Partners, Real Estate Developers, Home Owners Associations, Individuals or Real Estate Sales and Marketing companies that have a business relationship with THIRDHOME) be liable to Host Members, Guest Members, or any family members or guests for any special, indirect, incidental, consequential or punitive damages. Accordingly, both Host Member and Guest Member waive any such claims or rights and agree to such, as a condition to Membership.

(3) The above limitations do not apply to any claims arising from the intentional misconduct of THIRDHOME.

G.    DEFAULT

(1) The Cayman Islands shall be the exclusive laws governing this Agreement and any legal action against THIRDHOME must take place in the courts of the Cayman Islands. Accordingly, both Host Members and Guest Members agree to said laws and additionally, they consent to the jurisdiction of that forum.

(2) Any cost of a court action initiated against THIRDHOME in which THIRDHOME prevails, shall be paid for by the initiator, including attorneys’ fees and court costs.

(3) Host Members and Guest Members acknowledge that the warranties and representations provided by them herein are material warranties and representations and constitute a material foundation upon which THIRDHOME operates its Exchange Program. Accordingly, the failure by the Member to honor or comply with such warranties and representations shall constitute a material breach of the Exchange Program. In like manner, the remaining duties and obligations set forth herein, and agreed to by all Members, constitute material provisions of the Exchange Program. Accordingly, failure to honor any such provisions by a Host Member or a Guest Member shall likewise constitute a material breach of this Agreement.

(4) Failure to honor the warranties, representations, duties and obligations set forth herein shall subject a Member to forfeiture of both their Membership and any Keys in their account.

H.    SPECIAL NOTICE FOR THE RITZ-CARLTON DESTINATION CLUB MEMBERS

(1) The Ritz-Carlton Development Company, Inc., The Ritz-Carlton Management Company, LLC, The Cobalt Travel Company L.L.C., and The Lion & Crown Travel Co., LLC, and their respective officers, directors, partners, and all affiliates, subsidiaries and parent companies, make no warranty, express or implied, as to the condition, capacity, performance or any other aspect of the activities, events, or services provided by the 3RD HOME Limited or the THIRDHOME Exchange Program ("THIRDHOME"). No inquiry has been made into the activities or events, or the qualifications or the quality of services offered by THIRDHOME.

(2) The Ritz-Carlton Development Company, Inc., The Ritz-Carlton Management Company, LLC, The Cobalt Travel Company L.L.C., and The Lion & Crown Travel Co., LLC and their respective affiliates are not liable for any damage to, loss of, or theft of personal property left at any property or for any bodily injury or property damage, or any other matters, that occurs through the use of or related to the THIRDHOME Exchange Program.

(3) Any THIRDHOME membership benefits specifically afforded to The Ritz-Carlton Destination Club Members are contingent upon their continued membership with The Ritz-Carlton Destination Club and one or more of The Ritz-Carlton Destination Club locations.

I.    AMENDMENTS

As a Host Member and Guest Member of THIRDHOME, you understand, consent and agree to all of these Terms and Conditions. THIRDHOME reserves the right to amend and modify these Terms and Conditions, from time to time. With regard to amendments, Members additionally agree to the following:

J.    HOST MEMBERS

Each time, upon depositing weeks with THIRDHOME, Host Members agree, that in doing so, to re-visit and review THIRDHOME’s Terms and Conditions in order to endorse any amendments. In depositing weeks with THIRDHOME, you agree to re-visit, review and ratify the Terms and Conditions, as amended from time to time. Accordingly, you agree that each time you deposit weeks with THIRDHOME that, in connection therewith, you have re-visited, reviewed and ratified the Terms and Conditions, as amended.

K.    GUEST MEMBERS

Each time, upon reserving a property, Guest Members agree, that in doing so, they will re-visit, review and ratify the Terms and Conditions, as amended from time to time in order to endorse any amendments. Accordingly, Guest Members agree that each time they book a property and thereafter use a property that, in connection therewith, you have re-visited, reviewed and ratified these Terms and Conditions, as amended.

© 2015 3RD HOME Limited. All rights reserved.838801.010

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