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The document states that termination takes effect when the last required payment is received, including a cancellation fee and specified outstanding balances, with a treatment of amounts retained as liquidated damages on payment default. It also addresses liability until the effective date, indemnification, assignment of owner voting/consent rights, and governance by Alberta and Canadian law.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":41,"@type":70,"position":76},"https://docshare.wps.com/template/letters/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/cancellation-agreement-timeshare-owner-northmont-resort-properties/279161/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/cancellation-agreement-timeshare-owner-northmont-resort-properties/279161.png","ImageObject",442,249,{"name":88,"@type":89},"Blaney","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-29","2026-09-15",true,{"@type":98,"interactionType":99,"userInteractionCount":15},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"When does the termination of the VIA become effective?","Question",{"text":108,"@type":109},"Termination takes effect on the date the last payment required under paragraph 3 is received by Northmont.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"What payments are required upon executing the agreement?",{"text":113,"@type":109},"The Timeshare Owner must pay a cancellation fee and any outstanding balances related to the VIA, excluding balances related to the Renovation Project Maintenance Fee.",{"name":115,"@type":106,"acceptedAnswer":116},"What happens if the Timeshare Owner fails to make a required payment on time?",{"text":117,"@type":109},"Northmont may terminate the agreement without notice. If termination results from payment default, the VIA continues in effect and Northmont retains up to 50% of the cancellation fee as liquidated damages, with amounts above 50% redirected to Resort Villa Management Ltd.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},279161,1790049044,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":40,"category_name":41,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":15,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":47,"language":135,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":136,"faqs":137,"seo_title":138,"seo_description":61,"update_tm":139,"read_time":73},1236954677761,"https://us-avatar.wpscdn.com/davatar_994ba38a5ba835b3df7d355c54d3ed8d","CANCELLATION AGREEMENT  \nTHIS CANCELLATION AGREEMENT (the “Agreement”) is made effective as of the   day of   , 2013. BETWEEN:  \nNORTHMONT RESORT PROPERTIES LTD.  \nAs General Partner for Northmont Limited Partnership  \n(“Northmont”)  \n-and-  \nPrint name of timeshare owner 1 Print name of timeshare owner 2  \n___________________________ ___________________________  \nPrint name of timeshare owner 3 Print name of timeshare owner 4  \n(whether one or more, the “Timeshare Owner”)  \nNorthmont and the Timeshare Owner are sometimes referred to herein, collectively, as the “Parties” and, individually  \nas a “Party”  \nRECITALS:  \nA. Northmont is the manager of the resort located in Fairmont, British Columbia known as Sunchaser Vacation Villas (the“Resort”) .  \nB. The Timeshare Owner is a party to a Vacation Interval Agreement (the “VIA”) at the Resort for timeshare interval(s)    (insert lease \\#’s) .  \nC. The Timeshare Owner has the full right and authority to enter into this Agreement and that the Certificate(s) of Leasehold Interest for the VIA has not been transferred, pledged or assigned by the Timeshare Owner.  \nD. Northmont is also a party to the VIA either as signatory or as successor to Fairmont Resort Properties Ltd. as a result of a Foreclosure Agreement dated June 15, 2010 approved by the Court of Queen’s Bench of Alberta.  \nE. Northmont, in its capacity as manager, has levied a renovation project maintenance fee (the “Renovation Project Maintenance Fee”) in connection with the VIA.  \nF. The Timeshare Owner would like to terminate the VIA and surrender its rights to Northmont.  \nG. The Timeshare Owner either (i) does not own another VIA; or (ii) has entered into cancellation agreement(s) (the“Additional Agreement(s)”) for each additional VIA owned that relates to a higher priority season value based on a priority of Golden greater than Prime Golf greater than Prime greater than Leisure.  \nH. The VIA does not provide for termination by either Party but Northmont is prepared to permit termination on the terms and conditions set out herein.  \nNOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the mutual covenants and agreements herein set forth the Parties agree as follows:  \n1. Subject to payment of all amounts owing to Northmont under this Agreement and the Additional Agreement(s), if any, the VIA shall be terminated and the Timeshare Owner shall be released from all current and future obligations under the VIA as of the Effective Date (as defined below in paragraph 2) .  \n2. The effective date (the \"Effective Date\") of termination of the VIA shall be the date on which the last payment required under paragraph 3 of this Agreement is received by Northmont.  \n3. The Timeshare Owner will pay Northmont, upon execution of this Agreement, by cheque, electronic funds transfer or money order:  \na. a cancellation fee of $   (the “Cancellation Fee”); and  \nb. any outstanding balances related to the VIA, including but not limited to outstanding maintenance fees, interest, and any payments related to acquisition of the VIA on a promissory note or security agreement, but specifically excepting balances related to the Renovation Project Maintenance Fee, with the total amount to be determined by Northmont concurrent with execution of this Agreement.  \n4. If the Timeshare Owner fails to make any payment under this Agreement within the time stipulated for payment, Northmont, in its sole discretion, may terminate this Agreement without notice. If this Agreement is terminated as a result of a default in payment by the Timeshare Owner:  \na. the VIA shall continue in full force and effect;  \nb. any amounts paid in respect of the Cancellation Fee, up to a maximum of 50% of the entire Cancellation  \nFee, shall be retained by Northmont as liquidated damages and not as a penalty; and  \nc. any portion of the Cancellation Fee then paid which exceeds 50% of the total Cancellation Fee shall be transferred to Resort Villa Management Ltd. applie","cbCaiq6hd51Xoujn","https://ap.wps.com/l/cbCaiq6hd51Xoujn","pdf",109497,"English","# Parties and Background\n## Recitals and Purpose\n# Termination Terms\n## Effective Date and Release\n## Cancellation Fee and Outstanding Balances\n## Payment Default Consequences\n## Assignment of Voting/Consent Rights\n## Ongoing Liability Until Effective Date\n# Indemnification and Additional Terms\n## Indemnity Obligations\n## Governing Law and Assignment Restrictions","[{\"question\":\"When does the termination of the VIA become effective?\",\"answer\":\"Termination takes effect on the date the last payment required under paragraph 3 is received by Northmont.\"},{\"question\":\"What payments are required upon executing the agreement?\",\"answer\":\"The Timeshare Owner must pay a cancellation fee and any outstanding balances related to the VIA, excluding balances related to the Renovation Project Maintenance Fee.\"},{\"question\":\"What happens if the Timeshare Owner fails to make a required payment on time?\",\"answer\":\"Northmont may terminate the agreement without notice. If termination results from payment default, the VIA continues in effect and Northmont retains up to 50% of the cancellation fee as liquidated damages, with amounts above 50% redirected to Resort Villa Management Ltd.\"}]","Cancellation Agreement - Timeshare Owner - Northmont Resort Properties | PDF",1789516138]