Timeshare Sales Agreement

This Timeshare Sales Agreement ("Agreement") is made and entered into by and between:

Seller: Cabana Mio Accommodation Company (Pty) Ltd
Registration Number: 2022/7556/07
Address: 159 Beach Road, Amanzimtoti

Purchaser: [Purchaser's Name]

ID Number: [Purchaser's ID Number]

Address: [Purchaser's Address]

1. Timeshare Property

1.1 The Seller agrees to sell to the Purchaser the right to use a specific week or a flexi week at Cabana Mio, located at 159 Beach Road, Amanzimtoti.

The week is for accommodation in one of the duplex chalets of Cabana Mio, consisting of 3 bedrooms, 1 bathroom, 1 shower, kitchen, and lounge area with a private outside braai area, outside shower, and 1 undercover parking space.

2. Purchase Price and Payment

2.1 The Purchaser agrees to pay a one-time purchase price of:

R [Insert Amount] ([Insert Amount in Words])

for the usage of a week, described as Unit Number [Insert Unit Number], Week Number [Insert Week Number], or a Flexi week, which can be booked on a first-come, first-served basis through the management of the company, from any of the listed Flexi weeks of the Cabana Mio Holiday Resort, as per the attached list of Flexi weeks. The Seller warrants that there will always be a week available for the Purchaser to use and that the Seller will not oversell the available number of weeks.

2.2 The Purchaser also agrees to pay the first year's levy of R5,200 (Five Thousand Two Hundred Rand) upon execution of this Agreement, together with the Purchase Price in 2.1 above.

3. Holiday Rights

3.1 The Purchaser will have holiday rights for the specified week or a flexi week at the Property for a duration of ten (10) years from the date of this Agreement.

4. Annual Levy

4.1 After the first year, the Purchaser shall be responsible for paying the annual levy, which shall not increase by more than ten percent (10%) per annum.

4.2 The levies become due and payable on the 1st Day of March of every year and include VAT where applicable.

5. Right to Cancel

5.1 The Purchaser has the right to cancel this Agreement after three (3) years from the date of execution of this Agreement, without any penalties or refunds of amounts paid in terms of the levy policy.

6. Governing Law

6.1 This Agreement shall be governed by and construed in accordance with the laws of South Africa. The Seller warrants that all levies due to the Controlling Body of the Cabana Mio complex will be up to date.

6.2 The Seller also warrants that continual maintenance will be done to the unit and that periodic upgrades will be conducted to maintain the standard of the unit and its contents.

7. Entire Agreement

7.1 This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements or understandings, whether written or oral, relating to the subject matter hereof.