Club Exploria Member Guide 2019/2020 | Page 281

COMMON ASSESSMENT FEES– The Common Assessment Fees (also referred to as “Maintenance Fees”) are paid by Club members to cover the cost to operate and maintain the Accommodations and facilities at the Club Exploria destinations, including resort maintenance, improvements, amenities, landscaping, housekeeping, depreciation, check-in/check-out services, property insurance, property taxes and other service related items. Common Assessment Fees are invoiced annually, around October of each calendar year and are due by January 1 of each year. Club Exploria pre-collects 1/12th of the fees each month, with the balance due, if any, each January. EXCHANGE CREDITS– The currency earned on Exploria Marketplace for timeshare exchanges. EXPOs– The currency assigned to a member’s ownership week(s) which is used to make reservations in Club Exploria. EXPLORIA EXTRAS - The official Owner Rewards & Referral Program for Club Exploria Members to share the Exploria Resorts experience with family and friends and earn valuable rewards including cash, vacations, rental cars, and so much more. EXPLORIA MARKETPLACE– A variety of vacation opportunities, cruises, products and services for which members may redeem their EXPOs. Exploria Marketplace is an on-line service accessible through the secure owner portal of www.clubexploria.com. EXPLORIA RESORTS– Resorts within the Club Exploria Resort Portfolio managed by Exploria Resorts, the parent brand of Club Exploria. FIXED OR FLOATING TIMESHARE INTEREST– Ownership interest in a specific unit type at a Resort that includes the right to use accommodations for a 7-day period within an established season each year. The use rights of the ownership interest are assigned to the Club Exploria Trust in exchange for EXPOs. GUEST CERTIFICATE– A written confirmation that is issued when a Club Exploria member allows a guest to occupy their reserved unit accommodations. A Guest Certificate is required for each unit occupied by guests and in which the member is not present. No fees apply to internal reservations. Fees may apply for reservations booked through the Worldwide Exchange. 279