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ALLOCATION OF USAGE PERIODS
Why co-ownership or fractional interest instead of entire home or apartment?
- You own an interest in an appreciating asset.
- More cost effective.
- You own a fractional share in the property, not just a right to use.
- The Owners Association (not the individual owner) is responsible for French Utilities, Taxes and management costs.
What is a vacation fractional ownership?
Annual Usage Cycles and Usage Blocks. For the purposes of allocating usage rights associated with the Property, time shall be divided into “Annual Usage Cycles” and “Usage Blocks”.
(1) In general, each Annual Usage Cycle shall begin on the second Saturday of each calendar year, and end on the second Saturday of the next calendar year. Each Usage Block shall begin Saturday at 4:00 P.M. and end the following Saturday at 10:00 A.M. The Usage Blocks in each Annual Usage Cycle shall be numbered sequentially for reference purposes beginning with the number “1” and ending with the number “52”.
(2) Notwithstanding the general rule stated above, there shall be two instances when the Annual Usage Cycle shall begin on the first Saturday of the calendar year: (i) when the last Saturday of the prior year is on December 31, and (ii) when the prior year is a leap year and its last Saturday is on December 30. When the Annual Usage Cycle shall begins on the first Saturday of the calendar year, it shall still end on the second Saturday of the next Calendar year, which will mean that it will have 53 weeks rather than 52 weeks. In such instances, the Usage Block that would be numbered Usage Block 42 if the Usage Blocks were counted sequentially shall not be numbered and shall not be assigned to any Ownership Interest, and the next Usage Block shall be deemed Usage Block 42. B.
Usage Block Arrays. The Usage Blocks in each Annual Usage Cycle shall be grouped as follows:
| Usage Block Array |
Usage Blocks |
| Array 1 |
16, 17, 42, 43 |
| Array 2 |
6, 7, 26, 27 |
| Array 3 |
2, 3, 36, 37 |
| Array 4 |
14, 15, 40, 41 |
| Array 5 |
22, 23, 48, 49 |
| Array 6 |
4, 5, 30, 31 |
| Array 7 |
18, 19, 44, 45 |
| Array 8 |
24, 25, 52, 1 |
| Array 9 |
12, 13, 38, 39 |
| Array 10 |
8, 9, 32, 33 |
| Array 11 |
20, 21, 46, 47 |
| Array 12 |
10, 11, 34, 35 |
| Array 13 |
28, 29, 50, 51 |
Usage Block Rotation. Each Ownership Interest shall be permanently assigned the Ownership Interest number shown on Exhibit A to this Agreement. The Ownership Interest numbers shall not change in connection with the transfer of an Ownership Interest; rather, the transferee of the Ownership Interest shall be deemed to have the same Ownership Interest number as the transferor. In the Annual Usage Cycle beginning in January 2008, Ownership Interest One shall be assigned Usage Block Array 1, Ownership Interest Two shall be assigned Usage Block Array 2, and so on. In the Annual Usage Cycle beginning in January 2009, Ownership Interest One shall be assigned Usage Block Array 2, Ownership Interest Two shall be assigned Usage Block Array 3, and so on. The rotation of Usage Block Arrays shall continue in this manner annually, with each Ownership Interest advancing to the next highest numbered Usage Block Array until reaching Usage Block Array 13, at which time the Ownership Interest shall advance to Usage Block Array 1.
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