1. Term of Agreement. This Agreement shall commence on the “Effective Date”, which shall be the date of execution of this Agreement, and shall continue for a period of twenty four (24) months thereafter (the “Term”). The Discover Points made available for use by Purchaser hereunder must be used within the Term and any Discover Points not used within the Term shall expire and become void, without refund to Purchaser. Purchaser must be in compliance with all terms and conditions set forth herein and current on all amounts due hereunder in order to redeem and use the Discover Points and the other benefits of the Discover by Capital Vacations Program.
2. Payment Information and Default. Purchaser promises to pay the Program Purchase Price plus accrued charges in accordance with the payment terms set forth in Paragraphs B and C on the first page hereof whether Purchaser uses, has used or fails to use the Discover Benefits. Purchaser shall have a fifteen (15) day grace period within which to make any due payments. Amounts due and not received within the grace period will be subject to a late charge described above and the failure to pay any amounts due for more than sixty (60) days shall be considered a default hereunder. If Purchaser does not pay in full all outstanding amounts, including all late charges and intervening monthly payments that may have since become due: all rights described in this Agreement shall cease and terminate and Capital Vacations shall retain all payments made by or on behalf of Purchaser under this Agreement as agreed upon liquidated damages and not a penalty.
3. Reservations. Purchaser must pay at least $1,000.00 of equity into the program in order to make a reservation. All reservations for the use of Discover Points under this Agreement are subject to availability during the Term and may be made from one (1) year to twenty-four (24) hours in advance. Purchaser may split their reservations and all stays must be completed within the Term. Call Capital Vacations at (866) 879-0623 ( Mondays through Friday from 9:00 a.m. to 6:00 p.m. EST, Saturday 9:00 a.m. to 5:30 p.m. EST) to make a reservation. All payments due, including any accrued late charges, must be current as of the date of the intended occupancy of an accommodation. There is no additional charge for making a reservation for use of the Discover Points made available hereunder; provided, however, there is a ninety-nine -dollar ($99) fee imposed for canceling or changing a confirmed reservation within (28) days of arrival. Occupancy of any resort accommodations pursuant to this Agreement is on a first-come, first serve, space-available basis, and Capital Vacations does not guarantee occupancy of any specific resort or unit for any specific date. Purchaser will be responsible for any applicable sales taxes in respect to this transaction and any local use and occupancy taxes imposed on use of the resort accommodations.
4. Capital Point Redemption and Use. Discover points are available for use on a first-come, first-serve basis and may be used only at Capital Vacations Club component site resorts located in: Massachusetts, Florida, Missouri, Tennessee, South Carolina, Arizona, and Hawaii. Capital Vacations reserves the right to add, remove or substitute locations at any time without notice. Redemption and use of the Discover Points available hereunder shall be valued and used in accordance with the Capital Vacations Club Capital Point Schedule, which Purchaser acknowledges Capital Vacations has separately provided. Purchaser is required to attend a minimum 90 minute Capital Vacations’ Vacation Ownership presentation in connection with each reservation. Married couples and cohabitants must bring valid government-issued identification and attend the presentation together. Any failure to attend the presentation shall result in termination and forfeiture of the price freeze and Equity Credit benefits described in Section 6 hereof.
5. Rules and Regulations. Purchasers and their guests or invitees are obligated to comply with the rules and regulations of Capital Vacations Club as well as the rules and regulations of the occupied Component Site’s resort owners’ association, as the same may be amended from time to time, which rules and regulations Purchaser may obtain from Capital Vacations. Pets are not allowed within any Component Site resort.
6. Conversion to Capital Vacations Club Vacation Ownership. Purchasers shall have the privilege of converting their Discover by Capital Vacations purchase into full ownership in the Capital Vacations Club on the terms hereinafter set forth. Purchasers who purchase a Vacation Interest in the Capital Vacations Club having a minimum allocation of Capital Points (“Club Ownership”) within twelve (12) months from the Effective Date will receive (a) the price freeze ; and (b) an equity purchase credit applied against the cost of Club Ownership (the “Equity Credit”) equal to (i) one hundred percent (100%) of all amounts Purchaser has previously paid to Capital Vacations for their Program Purchase Price (excluding amounts paid for finance charges, sales taxes and late charges) in the event Purchaser purchases a minimum of 125,000 Capital Points, or (ii) fifty percent (50%) of all amounts Purchaser has previously paid to Capital Vacations for their Program Purchase Price (excluding amounts paid for finance charges, sales taxes and late charges) in the event Purchaser purchases 124,999 Capital Points or less. Any unused Discover Points will become inactive upon converting into full ownership in the Capital Vacations Club.
7. Purchaser's Representations. Purchaser represents that all information provided to Capital Vacations is true and that Purchaser is of legal age and capacity to enter into this Agreement. Purchaser represents and acknowledges that he/she is participating in Discover by Capital Vacations solely for personal recreation, enjoyment and consumption and not for resale or profit, that Discover by Capital Vacations has not been represented or sold to Purchaser as an investment opportunity and that Discover Benefits are provided solely for Purchaser's personal recreation, enjoyment, and consumption. Purchaser further represents that no representations have been made concerning rentals, rental pools, returns, tax advantages, depreciation or investment potential or any other monetary or financial advantages to Purchaser by Capital Vacations, its agents, employees’ associates or assigns, whether verbal or written other than those items set forth in this Agreement. Purchaser specifically understands that all travel accommodations for any travel certificates or other items of value provided to Purchaser in connection with this purchase are provided by third parties and Capital Vacations is not responsible for the fulfillment of the travel certificates. Purchaser waives all causes of action and claims against Capital Vacations regarding the fulfillment, accommodations, and travel arrangements for the travel certificates or any additional items of value.
8. Character and Use of Product/Services. The Discover Benefits to be provided shall commence as of the date of this Agreement and the primary purpose is not the right to purchase or receive goods or services in the future. Purchaser is not acquiring any vacation ownership interest, real estate interest, freehold estate, estate for years, or any other interest in real estate, including timeshare intervals, interests, uses, or periods. Receipt of the Discover Benefits does not provide Purchaser with ownership in or the recurring right to use for a period of time more than one year any specific accommodation or facility nor does it constitute the ownership, rental, leasing, letting or granting a license to use any living quarters or sleeping or housekeeping accommodations in, from, or a part of, or in connection with, any hotel, apartment house, rooming house or camp, park, condominium or resort. Purchaser is not acquiring any contractual right of exclusive occupancy of any specific accommodation or facility for a period of time less than a full year during any given year, on a recurring basis for more than one year, and Discover by Capital Vacations is not a timeshare plan. Purchaser is not acquiring any legal or beneficial interest in Capital Vacations or the Capital Vacations Club or its assets and has no right or interest in any property, contract rights or other business of the Capital Vacations Club. The Discover Benefits do not entitle Purchaser to use or occupancy of any specific geographic location and the accommodations and facilities as may be available via the Adventures Program are not subject to any common instrument. Purchaser is not entitled to any share of income, gain or distribution of or by Capital Vacations its/their affiliates nor is Purchaser acquiring any membership or voting rights in Capital Vacations or the Capital Vacations Club. The Discover Benefits are not obtained or provided from the cooperative purchase of any services or merchandise and Purchaser is not obtaining ownership or participation in any discount buying organization. Discover Points are appurtenant to and are not separable from the Discover Benefits, are for demonstrative use purposes only, and have no independent cash or other monetary value. Participation in the Adventures Program is subject to rules and regulations established from time to time by Capital Vacations.
9. Breach of Agreement. In the event of a breach of any provision herein by Purchaser, Capital Vacations, in its sole discretion, shall be entitled to terminate its obligations hereunder and retain, as liquidated damages, all sums received from Purchaser prior to such breach, and seek collection from Purchaser of all remaining amounts owed.
10. Delay or Impossibility of Performance. In the event that a reservation for use of the Discover Points is made and confirmed for Purchaser, and a delay or impossibility of performance due to circumstances beyond the control of Capital Vacations occurs, Capital Vacations, in its sole discretion, shall have the sole right and discretion to offer one of the following: (a) alternative accommodations during a time mutually agreeable to Purchaser and Capital Vacations; or (b) Capital Vacations may grant a pro rata refund to Purchaser of amounts previously paid against the total Program Purchase Price adjusted to reflect unpaid and unexpired portions of this Agreement. In no event may any refund to Purchaser be in excess of amounts previously paid to Capital Vacations by or on behalf of Purchaser.
11. Oral Representations. The parties hereto agree that this Agreement, along with any documents referred to herein, are the only agreements and disclosures between them. Purchaser should not rely upon any representations, oral or written, which are not herein set forth. This Agreement will become effective and binding upon the parties hereto when signed by Purchaser in the space provided herein and accepted by Capital Vacations.
12. Assignment. Purchasers may not assign any of their rights or obligations under this Agreement. Capital Vacations retains the absolute right, power and privilege to assign any or all of its rights, titles and interest under this Agreement to a third party determined by Capital Vacations, and upon any such assignment the duties of Capital Vacations hereunder as so determined by Capital Vacations shall be delegated to such assignee; provided, however, that no such assignment shall affect any right of Purchaser. Upon such assignment, Capital Vacations shall be released from all duties and any and all claims, demands, or causes of action arising from or relating to this Agreement.
13. Notices. Any notice required or permitted to be given by the terms hereof is to be delivered personally or by an insured delivery service providing written receipt, or by Certified Mail, Return Receipt Requested, addressed as to the above address. Notice will be deemed delivered on the date actually received or the date upon which the delivery service or the Postal Service certifies that delivery was refused or deemed impossible. Any party may change the address at which to receive notice pursuant to this Agreement by written notice to the other parties. By execution of this Agreement, Purchaser hereby consents to receive calls, including autodialed and/or pre-recorded telemarketing calls, SMS messages, texts and/or emails, from or on behalf of Capital Vacations and its affiliates, agents and contractors at the telephone number(s) and email address(s) provided; however, such consent is not a condition of purchase.
14. Applicable Law; Arbitration. Purchaser acknowledges and agrees that this Agreement shall be construed, interpreted and enforced in accordance with the laws of the State of Florida and that Orange County, Florida shall be the exclusive jurisdiction for all disputes arising out of this Agreement, to which exclusive personal jurisdiction Purchaser hereby consents and subject him/herself. Should any part of this Agreement be deemed invalid under applicable law, the remaining parts of this Agreement shall be in full force and effect as though any unenforceable part or parts were not a part hereof. In the event of any dispute, claim, question, or disagreement arising from or relating to this Agreement in any manner or the breach thereof, the parties hereto shall use their best efforts to settle the dispute, claim, question or disagreement. To this effect, they shall consult and negotiate with each other in good faith and, recognizing their mutual interests, attempt to reach a just and equitable solution satisfactory to both parties. Purchaser expressly waives any right or authority to participate in a class representative or class member on any class.
15. Club Ownership Preview Presentation. Purchaser (and their spouse/co-habitant partner) are required to attend a minimum 90-120 minute preview presentation on Club Ownership during each Discover Points reservation at a Capital Club Resort. If Purchaser fails to attend the presentation (a) Purchaser must pay the applicable daily rack rate for the reservation in cash, (b) the Discover Points redeemed for the reservation will be re-credited back to Purchaser, and (c) the Price Freeze and Equity Credit benefits will be forfeited.