This Instrument Rental Agreement (the “Agreement”) is made between Quest Enrichment Center (the Organization) and the Renter as entered on this order (collectively referred to as the “Parties”).
The undersigned Parties under terms and conditions of this Agreement acknowledge:
1. EQUIPMENT: The Organization hereby leases to the Renter the equipment noted on the submitted Agreement (the “Equipment”).
2. RENTAL TERM: The rental term will begin on Renter's acceptance of the Equipment and continue on a month-to-month rental until the instrument is returned.
3. RENTAL PAYMENTS: The Renter agrees to pay a predetermined amount to the Organization as rent for the Equipment for the full Rental Term designated on this Agreement. The Renter hereby authorizes the Organization to charge the credit card provided by Renter for such rent payments on the 1st of each month the Renter has possession of the Equipment.
4. SECURITY: Prior to taking possession of the Equipment, the Renter shall provide a valid credit card as a security deposit for the Equipment under terms of this Agreement. The Renter agrees to pay fully and completely for any damages caused by Renter or Renter’s agents to the Equipment during the Rental Term. The Renter agrees to pay full replacement cost of any equipment lost, stolen, damaged and/or destroyed. The Organization is hereby authorized to charge the same to Renter's credit card for any and all expenses.
5. POSSESSION AND SURRENDER OF EQUIPMENT: Renter shall be entitled to possession of the Equipment on the first day of the Rental Term. At the expiration of the Rental Term, Renter shall surrender the Equipment to the Organization by delivering the Equipment to the Organization or Organization’s agent during normal operating hours in good condition and working order, ordinary wear and tear excepted, as it was at the commencement of the Agreement. Renter may surrender the Equipment to the Organization prior to the end of the Rental Term; however, the Organization’s acceptance of such surrender shall not entitle the Renter to any refund and/or credit of the remaining rental term.
6. USE OF EQUIPMENT: The Renter agrees to only use the Equipment in a careful and proper manner and only for its intended purpose. The Renter will comply with all laws, rules, ordinances, statutes and orders regarding the use, maintenance and storage of the Equipment. Any use outside of traditional purpose for the Equipment will be considered violation of this Agreement and will constitute immediate return of such Equipment including any incurred costs.
7. CONDITION OF EQUIPMENT: The Organization agrees the Equipment is in good working order when delivered to Renter. Upon receipt of the Equipment, Renter shall inspect the same. Renter shall be deemed to have inspected the Equipment and acknowledged it to be in good and acceptable condition, unless the Renter provides written notice to the Organization of any defect or damage immediately following receipt of the Equipment.
8. REPRESENTATIONS: the Organization represents and warrants only as follows:
a) the Organization has the right to rent the Equipment as provided in this Agreement.
b) the Renter shall be entitled to quietly hold and possess the Equipment for the duration of this Agreement.
c) the Organization will not interfere with that right as long as Renter performs its obligations under this Agreement.
d) the Organization makes no representation with regard to a particular brand or manufacturer of the Equipment rented hereunder.
e) the Organization makes no warranty or representation with respect to the Equipment's merchantability or fitness for a particular purpose.
9. OWNERSHIP: The Equipment is and shall at all times remain the exclusive property of the Organization.
10. ENCUMBRANCES, TAXES AND OTHER LAWS: Renter shall keep the Equipment free and clear of any liens or other encumbrances and shall not permit any act where the organization’s title or rights may be negatively affected. The Renter shall be responsible for complying with and conforming to all laws and regulations relating to the possession of and use or maintenance of the Equipment. Furthermore, Renter shall promptly pay all taxes, fees, licenses and governmental charges, together with any penalties or interest thereon, relating to the possession, use or maintenance of the Equipment.
11. SEVERABILITY: If any part or parts of this Agreement shall be held unenforceable for any reason, the remainder of this Agreement shall continue in full force and effect. If any provision of this Agreement is deemed invalid or unenforceable by any court of competent jurisdiction, and if limiting such provision would make the provision valid, then such provision shall be deemed to be construed as so limited.
12. ASSIGNMENT: Neither this Agreement nor Renter’s rights hereunder are assignable except with the Organization’s prior, written consent. The Renter shall not assign, transfer or sublet its rights under this Agreement, shall not pledge, mortgage or encumber the leased equipment, or its rights hereunder and Renter shall not permit the Equipment or rights hereunder to be subject to any lien, charge or encumbrance.
13. BINDING EFFECT: The covenants and conditions contained in the Agreement shall apply to and bind the Parties and the heirs, legal representatives, successors and permitted assigns of the Parties.
14. DISPUTE RESOLUTION: This Agreement shall be governed by and construed in accordance with the laws of the State of Arizona. The parties hereby submit to the jurisdiction of the Arizona courts in Tucson, Arizona for resolution of any matter or controversy arising out of this Agreement, and a judgment by an Arizona court may be entered and enforced by any court in any jurisdiction where either the Renter or the Equipment may be located.
15. NOTICE: Any notice required or otherwise given pursuant to this Agreement shall be in writing and mailed certified return receipt requested, postage prepaid, or delivered by overnight delivery service to the Parties’ addresses as specified in this Agreement. Either Party may change such addresses from time to time by providing notice as set forth above.
16. ENTIRE AGREEMENT: This Agreement constitutes the entire Agreement between the Parties and supersedes any prior understanding or representation of any kind preceding the date of this Agreement. There are no other promises, conditions, understandings, or other agreements, whether oral or written, relating to the subject matter of this Agreement. This Agreement may be modified in writing and must be signed by both the Organization and the Renter.
17. CUMULATIVE RIGHTS: The Organization and the Renter’s rights under this Agreement are cumulative and shall not be construed as exclusive of each other unless otherwise required by law.
18. WAIVER: The failure of either Party to enforce any provisions of this Agreement shall not be deemed a waiver or limitation of that Party's right to subsequently enforce and compel strict compliance with every provision of this Agreement. The acceptance of rent by the Organization does not waive the Organization’s right to enforce any provisions of this Agreement.
19. INDEMNIFICATION: Except for damages, claims or losses due to Organization’s acts or negligence, Renter, to the extent permitted by law, will indemnify and hold the Organization and the Organization’s property, free and harmless from any liability for losses, claims, injury to or death of any person, including Renter, or for damage to property arising from Renter using and possessing the Equipment or from the acts or omissions of any person or persons, including Renter, using or possessing the Equipment with Renter’s express or implied consent.
20. PURCHASE: The Renter may elect to transfer this Agreement to a rent-to-own contract. If upon written notification, the Renter opts to purchase the Equipment, up to 6 months of rental payments may be applied to the purchase of said Equipment if the account is in good standing. Once the instrument has been returned, this option is terminated, and any accrued equity is forfeited.
21. EXCHANGE: The Equipment may be for a different instrument, or for the next size instrument, if your account is in good standing. Any changes in rental rates will apply and the original signed agreement will remain in full effect.