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PREFERRED
STATUS EXCHANGE The following resorts have been members of Preferred Status since prior to Jan. 1994: |
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- Bonus Time (extra time at your home resort
- Preferred Time (Bonus Time at another PSE resort)
- Split Week privileges
- Upgrade unit type or season
- Freedom Plus (Carry-forward your week to the following year)
PREFERRED STATUS
EXCHANGE TERMS AND CONDITIONS
(provided by RCI Management, Inc. 6/99)
Preferred Status Members are entitled to participate in the Preferred Status Exchange (PSE) operated by RCI Management, Inc., an Indiana Corporation (RCIM), subject to the following terms and conditions:
1. In order to be eligible to be a member (Member) of PSE, you must be an owner in good standing of a vacation ownership interval (Interval) at a resort (Affiliated Resort) whose owners association (Affiliated Association) has executed an Association Affiliation Agreement (Affiliation Agreement) to join PSE. Affiliation Agreements are generally for an initial term of 1-3 years, with provisions for automatic renewals to contain provisions which permit termination by either party. The terms of the Affiliation Agreement can be changed by the concurrence of both the Affiliated Association and RCIM. You may ask for a copy of the Affiliation Agreement for the Affiliated Resort at which you own for a complete explanation of all of its terms. If the Affiliation Agreement relating to the resort at which you own is terminated, you will cease to be a Member and your resort will no longer be an Affiliated Resort.
2. Your Membership in PSE is voluntary. You have the right to decline to become a Member or to cancel your Membership at any time by advising the Board of Directors of your Affiliated Association of your election. If you decide not to be a Member, however, your Interval will not be made available for use by PSE Members, nor will you be entitled to use PSE.
3. If an Affiliated Resort fails to maintain the resort quality, fiscal soundness, and management requirements for staying in the PSE system, RCIM may suspend or terminate the affiliated resort's affiliation with PSE. Similarly, an Affiliated Resort may become temporarily unavailable due to construction or renovation. Also, if any Affiliated Resort is damaged or destroyed in such a way that it becomes uninhabitable or no longer meets the suitability requirements for PSE, such resort may become suspended or terminated from PSE without prior notice. Affiliated Resorts retain the right to reassign a visiting Member to comparable, substitute accommodations. RCIM is not responsible for the unavailability of an Affiliated Resort for any reason beyond RCIM's control as the operator of PSE.
4. Certain PSE features require payment of one-time and/or nightly fees. For example, if you wish to upgrade your unit type or season or split your week, you may be required to pay a fee as set by the Affiliated Association and RCIM. Please consult your PSE Resort Directory for an explanation of any required fees.
5. All exchanges
are confirmed on a space-available basis.
RCIM does not guarantee
that each exchange request will be fulfilled, or that the exchange
destination you choose will be similar in size, design, furniture,
amenities, quality or accommodations to the resort you own. The
most desirable locations and the most popular times for use at PSE
Resorts have a tendency to be reserved first. The availability of
the resort destination, unit type and week you desire is greatly
enhanced the further in advance you make your reservation.
Affiliated Resorts have longer advance reservation windows for their
owners than for owners of other Affiliated Resorts. It is
advisable to have alternate dates and destinations in mind when you clal
for reservations.
6. There is a
$15.00 fee to cancel or change a reservation.
If you fail to
cancel your reservation at least 48 hours prior to your scheduled
arrival date, you will forfeit your Use Time for that reservation and
you will not be relieved of any fees (including Bonus Time and Preferred
Time fees) payable for the reservation. If you do not check-in
within 48 hours after the check-in time on your scheduled arrival date
and you have not previously notified RCIM of your planned late arrival,
you will forfeit your reservation and the applicable Use Time and you
will not be relieved of any fees (including Bonus Time and Preferred
Time fees) payable for the forfeited reservation.
7. In order to use PSE, you must be current in payment of your annual assessment to your owners association.
Please refer to Preferred Status Exchange directory for additional terms and conditions or call RCIR Management, Inc. 800.647.8001
Your decision to purchase should be based primarily upon the benefits to be gained from ownership and use of your timeshare interests in the resort and not upon the exchange program(s).
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