Promotion Agreement

Prelude: By completing the account registration process, you are entering into this Promotion Agreement (“Agreement”) by and between StayMarquis (“Marquis”), and the “Member” (hereinafter also referred to as “you”). Marquis provides members with a platform (the “Platform”) to market homes (each a “Property’) to renters (“Guests”) for periods of occupancy (each a “Reservation”). By entering into this agreement, you are either the owner or, authorized to transact business on behalf of, the Property as stipulated in this Agreement. For the purpose of providing services, Marquis uses different legal entities in different geographic regions. If the Property is located in Colorado, “Marquis” means Marquis Colorado, LLC. If the Property is located anywhere other than Colorado, “Marquis” means Marquis New York, LLC. Either party may terminate this agreement at any time, provided that both parties’ obligations with respect to Reservations existing at the time of such termination shall survive that termination. Member acknowledges that Marquis has made no guarantees (written or verbal) with respect to occupancy or income levels for any Property, with respect to this Agreement.

Services: Marquis offers two primary service tiers: “Elite” and “Marquis”. Differences include:

Elite Program: If you elect Elite, Marquis handles all marketing, pricing, booking and guest communication up until the Guest pays in full. Thereafter, all services (check-in, cleaning, other property-related services) are coordinated by the Member.

Marquis Program: If you elect Marquis, you receive a more turn-key level of service. Marquis provides the Elite services, and certain rental management services, which include preparing the house prior to Guest arrival, greeting the Guest, acting as the Guest’s primary point-of-contact before, during, and after a Reservation (and handling any issues or questions around the systems of the home), cleaning the Property, and performing post-Reservation inspections.

Marquis charges a commission (“Marquis Fee”) for each Reservation at the time the Reservation is confirmed. The amount of the Marquis Fee varies by service tier and region and will be explicitly displayed to you when you select the service tier during the Property onboarding process. In the event of any extension of any Reservation beyond the period confirmed in the Booking Agreement, whether by amendment to the Booking Agreement or other agreement between Member and the Guest, Marquis shall be entitled to, and Member shall pay to Marquis, an amount equal to the Marquis Fee for the period of such extension (the “Extension Fee”).

Member may request to upgrade from the Elite Program to the Marquis Program at any time, though Marquis reserves the right to decline the request. You may downgrade from the Marquis Program to the Elite Program at any time, provided that you may make this change only for future Reservations that have not yet already been requested or confirmed.

Ancillary Services: Marquis, or its affiliates, may offer Member and Guests concierge, advisory, home improvement, and certain other ancillary services as stipulated in the Master Services Agreement.. To learn more about ancillary services Marquis may offer, visit this link. To the extent Member engages any third party to provide any services ancillary to any Reservation, Marquis disclaims any obligation to manage or monitor the performance of such services and shall not be deemed an intended third party beneficiary to any agreement executed in connection therewith.

Right to Market Property: During the term, Marquis will use best efforts to market Member’s Property. Marquis will create and manage a listing for the Property on www.staymarquis.com, as well as via Channel Partners, as Marquis deems appropriate. To avoid marketplace confusion, Member will not list the Property on any platform where Marquis already lists the Property, as indicted by Marquis from time to time. Marquis may, but is not obligated to, advertise on other channels including social media platforms, news outlets, direct emails, among others. With respect to marketing via Channel Partners, Member acknowledges that Channel Partners, in agreeing to promote Member’s Property, are authorized to mark-up the cost for Reservations otherwise agreed to by Marquis and Member. From time to time, third-party agents book properties on the Platform on behalf of their Guest clients and charge their clients a fee. Member permits Marquis to procure Reservation for the Property through these third-party agents.

Photography: As part of Marquis’ marketing efforts, Marquis will capture new photography of the Property. There is no cost for the first Property photoshoot. If the Property is not ready for that first photoshoot, as determined by Marquis or the photographer, Member shall owe Marquis $250, to be deducted from Member’s next payout. All photography is owned by Marquis and you shall not use photos, or cause third party brokers to use photos, in order to advertise or market Property, or for any other purpose without Marquis’s prior written consent.

Access to Property: Marquis, its affiliates, and/or approved third-party service providers, shall have access to the Property during reasonable hours as may be necessary for the photoshoot, showings, inspection, maintenance or making of repairs.

Exclusivity: Marquis only requires exclusivity for the Property on the platforms where it advertises, which may include but will not be limited to VRBO, Marriott International, Homeaway, Booking.com, TripAdvisor, Airbnb, and Luxury Retreats (“Channel Partners”). Member must deactivate any existing listings that are on Channel Partner sites unless Member provides Marquis with written notification of the listing(s) you plan to retain and manage and Marquis consents.

Member may work with third-party agents to procure Reservations. Marquis may allow Member’s agent to effectuate the Reservation (“Agent Reservation”) through the Platform. For an Agent Reservation, Member shall pay to Marquis an agreed upon brokerage commission (fee of the total Reservation cost) in addition to any other fees Marquis is entitled to connection with such Reservation(s), as described in this Agreement.

Accurate Availability: To ensure we have confidence in your availability, you will receive a weekly email/text message that will bring you to a page that allows you to confirm or modify your property’s availability. We require you to confirm availability at least once every 4 weeks. If we have been unable to confirm your availability within a 4-week period, we will pause your listing. Properties on our platform are displayed in the order of the most recent confirmed availability. Any more than one reservation being cancelled due to inaccurate availability will be considered a breach and result in us reevaluating your property’s suitability for the Platform.

Member Account Member shall, for so long as the Property is listed by Marquis, maintain a valid sub-merchant account (a “Merchant Account”), with Stripe, which Merchant Account shall be subject to the Stripe Connected Account Agreement, which includes the Stripe Terms of Service (collectively, the “Stripe Services Agreement”). By entering into this Agreement, Member agrees to be bound by the Stripe Services Agreement, as modified by Stripe from time to time. As a condition to Member’s and Marquis’ use of Stripe, Members agree to provide Marquis with accurate and complete information, as requested, and Member authorizes Marquis to share such information with Stripe, if and as appropriate.

The Booking Process:

  1. Step 1 (Guest Books): Based off your previously provided availability, pricing, and strategy, interested guests will browse your listing, and they will receive an automatic price quote based on your previously approved availability and pricing. If they elect to move forward, the Guest will enter payment information, electronically sign a very landlord favorable Booking Agreement (form available here) and submit their Reservation. At this point, the Guest expects their Reservation to be confirmed.
    1. There is a difference between an inquiry and a booking (also known as a “Reservation”). An inquiry is a potential guest “kicking the tires” on a booking. Questions raised in an inquiry that we cannot answer with certainty will be forwarded on to you.  On the other hand, a booking is a firm commitment from the Guest with confirmed dates, a digitally signed Booking Agreement and payment authorization.
  2. Step 2 (Vetting and Notification): After the Guest submits the booking, we thoroughly vet the Guest and will send you a “New Booking Notification” email/text that outlines all information about the booking. In this email, you are required to click to accept or reject the booking. If the Guest matches your agreed-to suitability requirements it is expected that you will accept the booking. Absent concerns about the booking party constitution, if you do not accept a booking presented as provided herein we will pause your listing and reach out to re-align.
  3. Step 3 (Booking Confirmation): By you “Accepting” the booking, you will be digitally counter signing the Booking Agreement, and a fully executed copy of the Booking Agreement will be sent to you and your guest. At this point, the booking is officially confirmed, and the Guest’s initial payment is processed.
    1. Cancellations of confirmed bookings (other than for reasons permitted in the Agreement) will negatively impact your property’s listing, and general success on all platforms. Commissions are due to Marquis even for cancelled bookings, as we have successfully fulfilled our duties as part of this Agreement, and we will not cancel any booking until we have received that fee from you.
  4. Step 4 (Payout): Depending on the source of the booking, and the timeline relative to check-in, we impose various payment schedules. The approximate date of your payout will be disclosed in the “New Booking Notification” email and on or around that date, you will receive a payout directly to your Merchant Account.

Booking Agreement: Marquis provides the Booking Agreement for each Reservation, which is the contract entered into by the Member and Guest. Marquis is not a party to the Booking Agreement except to the extent stated explicitly in that agreement. If a Reservation comes through Airbnb, Luxury Retreats, or Marriott International, the Booking Agreement provided by each respective platform will remain in full force and effect.

Guest Cancellation of Booking: Except as described in the Paragraph entitled “Member Cancellation of Bookings”, all Guest payments made through Marquis are non-refundable. In the event a Guest cancels their Reservation, we will immediately re-open the dates that the Guest was booked for at your Property. In the event we are able to re-book the Property for an amount of equal or higher value than the amount the Guest was booked for, Marquis reserves the right to issue the Guest a full refund, independent of the Member’s preference.

Member Cancellation of Booking: If Member cancels a Reservation or displaces Guest for any reason, Member shall be liable for returning that Guest’s paid amounts, any costs to upgrade Guest to another property, Marquis Fee due on the canceled Reservation, and all attorney’s fees incurred by Guest and Marquis in enforcing this obligation. Member has 30 days to remit payment due to Marquis in connection with the cancellation.

Marquis Cancellation of Booking: Marquis may cancel a Reservation at its sole discretion if it deems the Property unfit or diminished below its custom standards.  If Marquis chooses to cancel a Reservation, Member shall promptly return to Marquis any funds already paid out in connection with the Reservation. Member has 30 days to remit payment due to Marquis in connection with the cancellation.

Guest Disputes: If a Guest issues a chargeback on their payment resulting in the funds being withdrawn from Marquis’ account, Marquis will immediately notify Member and will draw the funds from Member’s Merchant Account in an amount equal to the chargeback amount. If Member’s Merchant Account lacks sufficient funds to cover the chargeback amount, Marquis will notify Member of the chargeback, and Member shall remit payment to Marquis in the amount of the chargeback within two business days of Marquis notifying Member.

Security Deposits: Member agrees to allow Marquis to collect a security deposit for each Reservation, the amount of which is set forth during the Property onboarding process. Certain Channel Partners may not permit the collection of a security deposit and we will notify you of this in the “New Booking Notification” email. Security deposits will be returned to guests within 14 days of check-out if no claims are made against the deposit. Marquis reserves the right to transfer the security deposit to a third party in order to mediate the dispute/claim against the security deposit, and upon any such transfer, Member releases Marquis from all claims with regard to the release (or non-release) of any such security deposit or portion thereof. Any Member claims against the security deposit must be sent to Marquis within the time stipulated on the “Check-Out Notification” email you will receive upon Guest check-out, and must include: (i) an assessment of the dollar value of the damages (ii) evidence of the damages, and (iii) evidence that the damages did not exist prior to the Reservation. If you fail to timely submit this information, Marquis may, in its discretion, reject your request for a security deposit release in the entirety. Notwithstanding the foregoing, if you elect the Marquis Service Tier, you may have the option to cause a Marquis representative to manage claims, on your behalf, against security deposits and in such situation grant such Marquis representative full power and authority to do so.

Marquis’ Discretion to Rectify Issues: To the extent Marquis can reasonably mitigate any issue present during a Reservation that in Marquis’s opinion could result in an obligation to the Member to refund the Guest, Member grants Marquis the authority to do so, and to reimburse Marquis for any costs incurred in connection with such efforts.

In the event of amounts owed by Member to Marquis in connection with a cancellation, chargeback, security deposit, Guest dispute, or Marquis’ discretion to rectify issues, Marquis will first deduct any amounts due from future payouts. If the Member does not have available funds, Marquis will attempt to reverse a prior payout to Member to cover any amounts due. If Marquis is unable to retrieve amounts due, and Member does not satisfy said amount within 30 days, Member authorizes Marquis to file a UCC-1 Financing Statement evidencing a lien against the Member’s personal property, such sums shall accrue interest at the rate of 2.5% per month for each 30 days such amount remains outstanding. Any lien filed, as permitted herein, shall attach from the date of the failure of payment and may be enforced in like manner as a mortgage or deed of trust on real property or a security interest in personal property, as appropriate, subsequent to the recording of a notice or claim thereof.

Utility Fees: Member may include the cost of utilities in the rental amount or can collect utility fees by charging a fixed nightly rate upfront to the Guest. In the event the Guest exceeds the cost of the utilities collected, Marquis will attempt to collect the overage from the Guest by deducting the overage amount from the security deposit on file or if none exists, requesting additional funds from the Guest. Member must provide proof of cost of utilities within 10 days after Guest checks out. If Marquis is unable to collect the overage amount, Member’s sole remedy is with the Guest.

Insurance: Member must procure homeowners insurance that specifically covers Property rentals and short-term occupancies, on an occurrence (and not a claims-made) basis. Because some policies may specifically exclude renting from coverage, Members should confirm that their policy covers them, Guests, and their Property for the purposes of this Agreement. Member must add Marquis as an additional insured party to its homeowner’s insurance policy. As an added layer of protection, Marquis may maintain property damage insurance for each Reservation that covers Member up to $5,000 per incident and $25,000 in the aggregate for the year. The minimum claim for any one item is $50. It also comes with a $1,000,000 liability policy, access to which is contingent on Member’s payment of a $10,000 deductible. This Marquis insurance is supplement to, and not a replacement of, the homeowners policy Member agrees to obtain.

Brokerage: In the event of a purchase of the Property by a Guest, Member agrees to pay to Marquis a real estate brokerage commission equal to three percent (3%) of the total purchase price. Upon any such sale, Marquis will provide Member with its real estate brokerage license information.

Taxes: Marquis merely makes available the Platform for Members and Guests to find one another and, if they wish, arrange for accommodations. Member is solely responsible for determining Member’s tax reporting requirements and payment of income, real estate, personal property and sales taxes, if any, relating to the Property or similar tax due on proceeds from Property Reservations. Marquis cannot and does not offer tax advice to Member or to Guests. Marquis will provide Member with a Form 1099 if required by law. Member will provide to Marquis, promptly upon receipt of written request from Marquis, a completed W9 form. Marquis may, in its discretion, withhold any payments to Member until it has received such W9 form.

Compliance with Laws: Member will abide by (and as necessary, investigate) all local, municipal, state and federal laws, rules, ordinances, and regulations with regard to their use of the Site, Booking Services and Ancillary Services.  Marquis, although not liable for legal or regulatory compliance pertaining to Properties listed on the Platform, may from time to time be obligated (as we may determine in our sole discretion) to provide information relating to the Property or any current or past Reservation in order to comply with governmental investigations, litigation or administrative proceedings, and Marquis may, in its sole discretion, comply or disregard such obligation.

Indemnity: Member agrees to defend, indemnify and hold harmless Marquis and its Affiliates (collectively, the "Indemnitees") to the fullest extent permitted by law from and against any and all losses, claims, demands, costs, damages, liabilities, joint and several, expenses of any nature (including attorneys’ fees and disbursements), judgments, fines, settlements and other amounts of any nature whatsoever, known or unknown, liquid or illiquid (collectively, “Liabilities”) arising from any and all claims, demands, actions, suits or proceedings, whether civil, criminal, administrative or investigative, relating to a Reservation at the Property, Member’s breach of this Agreement, or any fraud, gross negligence or willful misconduct by Member. In the event of such indemnification, Marquis may elect its own counsel and Member can participate in the defense at Member’s own additional cost.

Marquis Liability: TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT SHALL (i) MARQUIS OR (ii) ANY OF ITS AFFILIATED ENTITIES, OR EITHER OF THEIR SHAREHOLDERS, MEMBERS, CONTRACTORS, SUPPLIERS, OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, LICENSEES OR REPRESENTATIVES (COLLECTIVELY THE “AFFILIATES”), BE LIABLE FOR ANY DELAYS, ACCIDENTS, DAMAGES, INJURIES OR LOSSES SUFFERED BY OR WITH RESPECT TO MEMBER, THE GUEST (OR GUEST’S INVITEES). MARQUIS IS NOT RESPONSIBLE OR LIABLE FOR MANAGING OR MAINTAINING THE PROPERTY (OTHER THAN AS AGREED TO IN WRITING) OR FOR THE ACTIONS, INACTIONS OR FAULTS OF MEMBER OR ANY OTHER THIRD PARTY INVOLVED IN THE BOOKING OR MANAGEMENT OF MEMBER’S PROPERTY. NEITHER MARQUIS NOR ITS AFFILIATES SHALL BE LIABLE TO THE MEMBER FOR ANY SPECIAL, EXEMPLARY, OR PUNITIVE DAMAGES, INCLUDING DAMAGES (INCLUDING LOSS OF DATA, REVENUE, AND/OR PROFITS) COSTS OR EXPENSES (INCLUDING LEGAL FEES AND EXPENSES), WHETHER FORESEEABLE OR UNFORESEEABLE, ARISING OUT OF THIS AGREEMENT REGARDLESS OF WHETHER THE LIABILITY IS BASED ON BREACH OF CONTRACT, TORT, STRICT LIABILITY, BREACH OF WARRANTIES OR OTHERWISE, AND EVEN IF THE PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF THOSE DAMAGES. MARQUIS’ MAXIMUM LIABILITY UNDER THIS AGREEMENT SHALL BE THE AGGREGATE OF ALL MARQUIS FEES COLLECTED ON BEHALF OF THE MEMBER IN THE SIX (6) MONTH PERIOD IMMEDIATELY PRECEDING THE DATE ON WHICH THE LIABILITY FIRST AROSE.

Entire Agreement: Together with any agreements between Member and Marquis with respect to additional services, and each Booking Agreement Member executes, this Agreement constitutes the entire agreement between Member and Marquis, and replaces any other agreements existing prior hereto whether made orally, in writing, or otherwise.

Intellectual Property: Marquis has and continues to invest substantial time and resources to develop marketing material to promote the Property and other Marquis Members’ properties. Member agrees that ownership of these materials, and all intellectual property embedded therein, belong exclusively to Marquis and that Member will not use (or allow anyone else to use) any of those materials without Marquis’ prior consent.

Force Majeure: Member is permitted to cancel a Reservation without penalty, upon reasonable advance written notice to Marquis, if an act beyond Member’s reasonable control (for example, fire, flood, hurricane, pandemic, government regulation, etc.) would prevent a Guest from reasonable use of the Property during that Reservation. Member agrees to return to Marquis (or otherwise authorize Marquis to collect from Member or withhold from Member’s future disbursements) a pro-rated portion of any fees received for a Reservation cancelled for these reasons.

Non-Solicit: During the Term of this Agreement and for a period of eighteen (18) months thereafter, Member will neither recruit, solicit for employment, nor otherwise hire or engage in any way, shape or form, any Marquis employees, agents, or contractors (“Marquis Personnel”), without Marquis’ express prior written approval. Member acknowledges that, separate and apart from the services to be provided to Member by Marquis, Marquis invests considerable resources in training Marquis Personnel to perform services (and ancillary services as described further in the Master Services Agreement) for Member (and other Marquis members). In recognition of these expenses incurred by Marquis, Member agrees that in the event the Member breaches its covenants in this Section, it shall pay to Marquis an amount equal to the product of (i) 1.5 and (ii) the respective Marquis Personnel’s annualized compensation, to offset the aforementioned expenses.

Miscellaneous: This Agreement may be amended from time to time by Marquis. This Agreement shall be governed by and construed in accordance with the laws of the State of New York without regard to conflict or conflict of law principles. Any suit or other action arising out of, or in connection with, this Agreement may be brought only in the New York state courts sitting in New York County, New York or in the United States District Court for the Southern District of New York and each of the Parties hereby irrevocably consents to the jurisdiction of, and venue in, such courts.

Marquis Rights: This agreement does not restrict Marquis’ rights to sell or advertise products in connection with the Platform and Member is not entitled and will not be paid any portion of Marquis’ proceeds from such activities.

Final Member Representations

  1. As a condition to Member subscribing to Marquis, Member agrees and promises that:
    1. Member has the authority to enter into this Agreement with respect to the subject Property;
    2. any descriptions of the Property Member provides Marquis are materially accurate;
    3. the Property is and will be kept safe for human occupancy, at all times;
    4. Member has disclosed the location of all security cameras on the Property;
    5. Member has reviewed a copy of the form of Booking Agreement, have accepted its terms and agree to bound by it with respect to any completed and confirmed Reservation for the Property;
    6. Member will handle Marquis’ and any Guests’ confidential information with the same degree of care that Member handles their own but in no event less than a commercially reasonable degree of care;
    7. Member will use the Platform only for its intended purposes and will not take any action that does or may, directly or indirectly, compromise any component of the Platform;
    8. the Property is and will at all times during any Reservation remain free from dangerous objects (for example, weapons, explosives, etc.); and
    9. Member will abide by (and as necessary, investigate) all local, municipal, State and federal laws, rules, ordinances, and regulations with regard to Member’s use of the Platform or Marquis’ services as well as the renting of Member’s Property.
  2. Member shall provide and maintain the Property as a quality resort rental accommodation according to the standards set by Marquis. If the Property should fall below Marquis’ minimum standards, including but not limited to furnishings, fixtures, appliances, window coverings, wall and floor coverings, décor and repair, and exterior maintenance, Marquis may immediately terminate this Agreement and shall have the right to cancel upcoming Reservations for the Property in its sole discretion.
  3. Member is to provide phone service with a local provider in the area, high speed internet service, cable TV, satellite TV or streaming services such as Netflix, smoke detectors, carbon monoxide detectors, and 51b ABC Fire Extinguishers.

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