OTTO BINX RENTAL AGREEMENT
Lease Term: Lease Term: Lessee agrees to rent from Otto Binx Ltd (“Lessor”), in accordance with the terms and conditions of this Lease Agreement, all of the items described on the reverse side (“the Leased Property”) for a minimum period of _____ units commencing on _________________________(“Lease Term”). If the Leased Property is not returned at the end of the Lease Term, the lease shall be extended by one unit minimum (see invoice for unit price). Upon the third extension unit, Lessee will be assessed the full retail value of rented items in addition to the third unit extension. Once an extension goes into effect, Lessee will receive an updated invoice within the extension period. Please see invoice terms and conditions for payment policy for late ("delinquent") accounts.
This Agreement: Lessor requests that Lessee read and sign this agreement prior to pick up of Leased Property. However, failure to do so on the part of the Lessee does not absolve Lessee from the terms therein. Rental Agreement is referenced on Invoice and it is the sole responsibility of the Lessee to familiarize themselves, to read and understand, this Rental Agreement, to which they agree upon payment of said invoice and pick up of Leased Property.
Damage Waiver Fee: Damage Waiver Fee must be requested in writing by Lessee prior to pick up of Leased Property. If request is granted, Lessee shall receive written notification of Damage Waiver prior to pick up of Leased Property. If request is denied or if there is no request made by Lessee in writing or if there is no written approval provided by Otto Binx prior to pick up of Leased Property, Lessee will bear all risk of damage to or loss of the Leased Property from any and all causes without exception. Only if the damage waiver fee is requested by Lessee, granted by Lessor in writing and paid in full prior to pick up, shall the Lessor bear any risk of damage to or loss of the Leased Property from any cause except theft or disappearance, gross negligence, or misuse (such as, but not limited to assembly , disassembly or reassembly of Leased Property as well as transport of Leased Property, in addition to improper use and storage of the Leased Property), for which the Lessee shall remain responsible.
Certificate of Insurance: Lessee must provide Certificate of Insurance to Lessor prior to pick up of Leased Property. Failure to provide Certificate of Insurance prior to pick up of Leased Property does NOT absolve Lessee from bearing any and all risk of damage to or loss of the Leased property from any and all causes. If Lessee fails to secure an approved Damage Waiver (mentioned above) in writing and fails to provide a Certificate of Insurance, Lessee is personally responsible for any and all damage, including but certainly not limited to disappearance and minor cosmetic changes, to Leased Property as assessed by Lessor in the 365 days that follow the Lease Term. Lessee will be invoiced for the full retail value of Leased Property. Lessee may provide a Certificate of Insurance in response to the invoice, post- Lease term, but this does not absolve Lessee from paying balance in full. Should Lessee's insurance fail to pay balance of invoice in full or in part, Lessee will be sent a second, "Pre-Collections" invoice. Please see this invoice for terms and conditions for payment and Lessor’s collections policy
Returned Checks: A $ 95.00 "Bounced Check Fee" will be charged for any check returned to Lessor by your bank. A replacement certified check or cash must be delivered to Lessor 24 hours after notice to Lessee of the check return.
Lessee’s Responsibility for Maintaining the Leased Property: It is the Lessee’s responsibility to maintain the property, to keep it in good condition, and to return it to Lessor at the end of the Lease Term or otherwise as required by this agreement in the same exact condition as when received by Lessee. Condition will be assessed prior to pick up and after return of Leased Property by Lessor. Lessor's analysis of condition is final and binding. Lessor reserves the right to assess and communicate results of assessment to Lessee within the 365 day period after return of Leased Property. The Leased Property shall not be removed from the address to which it is delivered without Lessor’s written consent. IF YOU FAIL TO RETURN THE LEASED PROPERTY AS REQUIRED, YOU WILL BE LIABLE TO LESSOR FOR ITS FULL RETAIL VALUE (LESSOR’S CURRENT RETAIL PRICE) IN ADDITION TO ALL OTHER PAYMENTS AND CHARGES IDENTIFIED IN THIS LEASE AGREEMENT.
IN WITNESS WHEREOF, the parties hereto affix their signatures the ________ day of ___________________, ___________.