MANAGEMENT AGREEMENT BETWEEN - RV Resort …

1 EXHIBIT "15 MANAGEMENT AGREEMENT This AGREEMENT dated as of _____ 20____. BETWEEN the Owner and the Manager: Owner Name Name Address Address Email Email Telephone Telephone Fax Fax Deposit Money to Bank Account # . Bank & Branch # . Manager Matterhorn RV Resort MANAGEMENT Ltd. c/o 630 Terminal Avenue North Nanaimo, BC, V9S 4K2 strata Lot strata Lot _____ strata Plan _____ Commencement Date _____ The Owner hereby certifies and represents and warrants to the Manager that the Owner is not a nonresident of Canada for the purposes of the Income Tax Act (Canada) and covenants and agrees to inform the Manager of any change of residency.

2 WHEREAS: A. The Owner is the owner of the strata Lot and a member of the strata Corporation; B. The Owner has the full right, title , power and authority to the strata Lot and desires to appoint the Manager as his or her exclusive agent for the occupancy of the strata Lot upon the terms and conditions contained in this AGREEMENT ; 2 C. On filing the strata Plan in the Land title Office and prior to the transfer of title of the strata Lot to the Owner, the Developer, Matterhorn Village Developments Inc., intends to execute and register a use covenant as a restrictive covenant to limit the use and MANAGEMENT of the strata Lot (the Covenant ); D. If in the sole opinion of the Manager rentals are desirable, then the Manager may provide rental MANAGEMENT services pursuant to this MANAGEMENT AGREEMENT in exchange for the Manager s Compensation and the strata Lot Owner is responsible to pay any additional strata Lot Expenses and the Owner s Expenses; E.

3 If rental MANAGEMENT services are available, then the Owner has the option of either renting his or her strata Lot using the services of the Manager pursuant to this AGREEMENT or using the strata Lot for Personal Use; WHEREFORE, in consideration of the sum of $ , paid by each party to the other, receipt of which is hereby acknowledged, and the mutual covenants and agreements hereinafter contained and other good and valuable consideration, the parties agree as follows: ARTICLE 1 DEFINITIONS 1. Definitions. Adjusted Gross Revenue has the meaning ascribed in article (2); Administrative Recovery Fee means the Administrative Recovery Fee charge payable to the Manager under this AGREEMENT , described in article ; Commencement Date means the commencement date described above; Contract Surcharge means a 5% surcharge payable to the Manager as part of the Administrative Recovery Fee as compensation for administering contracts on behalf of the Owner for landscaping, lawn maintenance and repairs required under this AGREEMENT ; Development means the development known as RV Resort on the Lake , Nanaimo, British Columbia in which the strata Lot is located.

4 Gross Revenue has the meaning ascribed to such term in article (1); MANAGEMENT Fee means the monthly MANAGEMENT fee payable to the Manager under this AGREEMENT as described in article being 25% of the Adjusted Gross Revenue for the strata Lot, plus applicable taxes; Manager means Matterhorn RV Resort MANAGEMENT Ltd. including its designated agents and/or employees and its successors and assigns from time to time, it being understood that a property agent may be delegated the right to carry out MANAGEMENT services on behalf of the Manager; 3 Manager s Compensation includes the MANAGEMENT Fee, Placement Fee and Administrative Recovery Fee payable by the Owner to the Manager as consideration for the services rendered by the Manager pursuant to this AGREEMENT .

5 Occupancy means the occupancy of the strata Lot pursuant to this MANAGEMENT AGREEMENT by a member of the public for a term of one month and a fixed termination date, subject to Renewal Rights in the sole discretion of the Manager on the same basis, or such other term as may be agreed upon in writing among the parties, with a fixed termination date, subject to Renewal Rights in the sole discretion of the Manager on the same basis; Occupancy AGREEMENT means the AGREEMENT BETWEEN a member of the public and the Manager governing Occupancy; Operating Account means the account maintained by the Manager in accordance with article ; Owner means the person(s) registered in the Land title Office as owner in fee simple of the strata Lot or, where there is a registered AGREEMENT for sale of the strata Lot, the registered holder of the last registered AGREEMENT for sale or the person that holds an interest in the strata Lot in a representative capacity; Owner s Expenses has the meaning set out in article (5); Owner s Net Rental Revenue has the meaning ascribed in article (3).

6 Placement Fee means a fee equal to 50% of the first month of Adjusted Gross Rent, plus applicable taxes, for finding a new occupant payable by the Owner to the Manager each time a new occupant signs an Occupancy AGREEMENT for the strata Lot; Renewal Rights or Renewal Notice means an automatic right to renew the term of an Occupancy AGREEMENT for an additional term or terms, from time to time, on the same terms and conditions as the expiring Occupancy AGREEMENT provided that the Manager first delivers to the occupant(s) written notice of the renewal rights prior to the expiry date of the term or the renewed term (the Renewal Notice ). The Renewal Notice once delivered shall be deemed to eliminate the requirement for all parties to execute a renewal AGREEMENT for the Occupancy AGREEMENT and upon delivery of Renewal Notice to the Occupant, the Occupancy AGREEMENT shall be deemed to be extended for an additional term on the same terms and conditions as the expiring Occupancy AGREEMENT .

7 If the occupant(s) does not receive a Renewal Notice, then the occupant(s) must execute a new Occupancy AGREEMENT or vacate at the end of the term; RV means a recreational vehicle, park model trailer or a camper that meets or exceeds a CSA Z240 standard and which is self-contained with a washroom and kitchen and is capable of being hooked up to water and sewer services; 4 strata Corporation means The Owners, strata Plan No. _____ formed in respect of the Development; strata Lot means the strata lot in RV Resort on the Lake owned by the strata Lot Owner, as described above; strata Lot Expenses has the meaning set out in article (4); Term means the Term of this AGREEMENT , as determined in accordance with article ; Use includes the purpose for which the strata Lot is used as part of a recreational vehicle ( RV ) Resort intended for accommodation of persons in an RV in compliance with the City of Nanaimo Zoning bylaws and the Use Covenant.

8 ARTICLE 2 APPOINTMENT, USE, TERM AND TERMINATION Appointment. The Owner hereby appoints the Manager as its agent to manage the Occupancy of the strata Lot in accordance with this AGREEMENT and the Manager accepts such appointment. Occupancy Structure. The rental by an Owner of his or her RV, park model or any other unit located on the strata Lot is prohibited. This arrangement is not part of a rental pool. The Owner irrevocably covenants and agrees to be bound by the agreements and licences for the strata Lot made by the Manager in accordance with this AGREEMENT . The Owner will indemnify and save the Manager harmless from and against any and all claims, actions, threatened actions, damages, costs and expenses in connection with any failure by the Owner, or anyone claiming under or on behalf of the Owner, to comply with this AGREEMENT or the Occupancy AGREEMENT entered into from time to time by the Manager on behalf of the strata Lot owner, including legal costs on a full indemnity basis.

9 Use. The Manager will enter into an Occupancy AGREEMENT for Occupancy of the strata Lot by the public in accordance with this AGREEMENT and not for any other purpose. Any Use of the strata Lot will comply with all applicable laws of the strata Corporation, City of Nanaimo, Use Covenant and any other federal or provincial law. Term. The Manager shall be appointed under this AGREEMENT for a term of two (2) years from the Commencement Date (the Term ) and the appointment will be automatically renewed and continue thereafter from year to year until the Owner gives written notice of termination of this AGREEMENT to the Manager, in which case this AGREEMENT will terminate on the 180th day after the date of such written notice and any existing Occupancy AGREEMENT shall be terminated at the same time.

10 The Manager may terminate this AGREEMENT together with any Occupancy AGREEMENT on 30 days notice in writing. 5 Termination. The Manager will determine whether it is desirable in its sole discretion to operate or to continue to operate a MANAGEMENT facility for Occupancy pursuant to an Occupancy AGREEMENT and, if it is not desirable, then the Manager may terminate all MANAGEMENT Agreements by providing 30 days written notice to the Owner(s). Events Upon Termination. Upon the expiration of the Term of this AGREEMENT or any other termination of the appointment of the Manager under this AGREEMENT : (1) the Manager will not enter into any further Occupancy Agreements for the strata Lot.