*This form is for rentals, demos and managed services.
1. Equipment: Lessor hereby leases to Lessee, and Lessee hereby leases from Lessor, the following described equipment (the "Equipment"): Betco Concrete Polisher: Model Matrix CP30 with an MSRP of $24,995.00.
2. Term: The term of this Lease shall commence on:
and shall expire on:
3. Rental Fees: The rental fees (outlined below) for the Equipment are the responsibility of the Lessee and shall be paid to the Lessor.
*Does NOT include state and local taxes, which will be applied to the rental fees at the time of invoice. This also does NOT include the Security Deposit. See below for more information regarding the Security Deposit. Lastly, the propane tank and fuel REQUIRED to use the equipment is NOT included in the rental fees above and are the responsibility of the Lessee.
4. Late Fees: Should the Lessee require additional days or not prepare the machine for shipment per the above term, late fees of $250.00 per day may be applied at Lessor’s discretion.
5. Security Deposit*: Lessee shall pay a security deposit of $1,500.00 prior to taking possession of the Equipment. The security deposit will be refunded to Lessee promptly following Lessee's performance of all obligations in this Lease. Lessor shall retain this deposit to be used, in the event of loss of or damage to the Equipment during the term of this Agreement, to defray fully or partially the cost of necessary repairs or replacement. *The security deposit will be waived for active Betco accounts in good standing.
6. Legal Operation: Lessee shall use the Equipment in a careful and proper manner and shall comply with and conform to all national, state, municipal, police and other laws, ordinances and regulations in any way relating to the possession, use or maintenance of the Equipment.
7. Rights to Lease: Lessor disclaims any and all other warranties, express or implied, including but not limited to implied warranties of merchantability and fitness for a particular purpose, except that Lessor warrants that Lessor has the right to lease the equipment, as provided in this lease.
8. Equipment Condition: Lessee, at its own cost and expense, shall keep the Equipment in good repair, condition and working order and shall furnish any and all parts, mechanisms and devices required to keep the Equipment in good mechanical working order.
9. Loss or Damage: Lessee hereby assumes and shall bear the entire risk of loss and damage to the Equipment from any and every cause whatsoever. No loss or damage to the Equipment or any part thereof shall impair any obligation of Lessee under this Lease, which shall continue in full force and effect through the term of the Lease. In the event of loss or damage of any kind whatever to the Equipment, Lessee shall, at Lessor's discretion: Pay for all parts and labor to repair and return the machine to proper working order; or pay to Lessor the replacement cost of the Equipment.
10. End of Lease Responsibilities: Upon the expiration or earlier termination of this Lease, Lessee shall return the Equipment to Lessor in good repair, condition and working order, ordinary wear and tear resulting from proper use thereof alone excepted, by preparing it for shipment back to: Betco Corporation400 Van Camp RoadBowling Green, Ohio, 43402
12. Applicable Taxes: Lessee shall keep the Equipment free and clear of all levies, liens and encumbrances. Lessee, or Lessor at Lessee's expense, shall report, pay and discharge when due all license and registration fees, assessments, sales, use and property taxes, gross receipts, taxes arising out of receipts from use or operation of the Equipment, and other taxes, fees and governmental charges similar or dissimilar to the foregoing, together with any penalties or interest thereon, imposed by any state, federal or local government or any agency, or department thereof, upon the Equipment or the purchase, use, operation or leasing of the Equipment or otherwise in any manner with respect thereto and whether or not the same shall be assessed against or in the name of Lessor or Lessee. However, Lessee shall not be required to pay or discharge any such tax or assessment so long as it shall, in good faith and by appropriate legal proceedings, contest the validity thereof in any reasonable manner which will not affect or endanger the title and interest of Lessor to the Equipment; provided, Lessee shall reimburse Lessor for any damages or expenses resulting from such failure to pay or discharge.
13. Indemnification: Lessee shall indemnify Lessor against, and hold Lessor harmless from, any and all claims, actions, suits, proceedings, costs, expenses, damages and liabilities, including reasonable attorney's fees and costs, arising out of, connected with, or resulting from Lessee's use of the Equipment, including without limitation the manufacture, selection, delivery, possession, use, operation, or return of the Equipment.
14. Terms & Obligations: If Lessee fails to pay any rent or other amount herein provided within ten (10) days after the same is due and payable, or if Lessee fails to observe, keep or perform any other provision of this Lease required to be observed, kept or performed by Lessee, Lessor shall have the right to exercise any one or more of the following remedies: To declare the entire amount of rent hereunder immediately due and payable without notice or demand to Lessee; to sue for and recover all rents, and other payments, then accrued or thereafter accruing; to take possession of the Equipment, without demand or notice, wherever same may be located, without any court order or other process of law; to terminate this Lease; to pursue any other remedy at law or in equity.Lessee hereby waives any and all damages occasioned by such taking of possession. Notwithstanding any repossession or any other action which Lessor may take, Lessee shall be and remain liable for the full performance of all obligations on the part of the Lessee to be performed under this Lease. All of Lessor's remedies are cumulative, and may be exercised concurrently or separately.
15. Transferability: Neither this Lease nor any interest therein is assignable or transferable by operation of law. If any proceeding under the Bankruptcy Act, as amended, is commenced by or against the Lessee, or if the Lessee is adjudged insolvent, or if Lessee makes any assignment for the benefit of his creditors, or if a writ of attachment or execution is levied on the Equipment and is not released or satisfied within ten (10) days thereafter, or if a receiver is appointed in any proceeding or action to which the Lessee is a party with authority to take possession or control of the Equipment, Lessor shall have and may exercise any one or more of the remedies set forth in Section 15 hereof; and this Lease shall, at the option of the Lessor, without notice, immediately terminate and shall not be treated as an asset of Lessee after the exercise of said option.
16. Ownership: The Equipment is, and shall at all times be and remain, the sole and exclusive property of Lessor; and the Lessee shall have no right, title or interest therein or thereto except as expressly set forth in this Lease.
17. Documentation: If Lessor shall so request, Lessee shall execute and deliver to Lessor such documents as Lessor shall deem necessary or desirable for purposes of recording or filing to protect the interest of Lessor in the Equipment including, but not limited to a UCC financing statement.
18. Assignment: Lessee shall not assign this Lease or its interest in the Equipment without the prior written consent of Lessor.
19. Enforcement of Provisions: The invalidity or unenforceability of any provision in this Agreement shall not cause any other provision to be invalid or unenforceable.
20. Governing Law: This Lease shall be construed and enforced according to laws of the State of Ohio. This instrument constitutes the entire agreement between the parties on the subject matter hereof and it shall not be amended, altered or changed except by a further writing signed by the parties hereto.
The parties hereto have executed this Lease as of the day and year first above written.
Please complete and sign below.
Once all highlighted areas are completed and you have signed this agreement, it will be forwarded to a Betco Representative for signatures. Once the agreement is finalized, you will receive notification and a PDF copy of the fully executed agreement for your files.
Lessor Company: Betco Corporation, 400 Van Camp, Bowling Green, OH 43402
Contact Betco Customer Service at: email@example.com or 888-GO-BETCO (888-462-3826).
Provide the JOB SITE details here for Self-Transport - Out / Ship-Back to Betco.
CRITICALLY IMPORTANT: We must have the contact information of the PERSON AT THE SITE who is responsible for contacting the freight liner to pick up the CP30 for SHIPMENT BACK TO Betco.
Provide the DELIVERY/JOB SITE details here for Ship-Out / Self-Transport Back to Betco.
CRITICALLY IMPORTANT: We must have the contact information of the PERSON AT THE SITE who is responsible for receiving the CP30 for DELIVERY FROM Betco.
Provide the JOB SITE details here for Self-Transport - Round Trip.
CRITICALLY IMPORTANT: We must have the contact information of the PERSON AT THE SITE who is responsible for the CP30 while on the job site.
Provide the DELIVERY/JOB SITE details here for Ship - Round Trip.
CRITICALLY IMPORTANT: We must have the contact information of the PERSON AT THE SITE who is responsible for RECEIVING DELIVERY of the CP30 and for contacing the freight liner to pick up the CP30 for SHIPMENT BACK to Betco.
Provide the PICK-UP SITE details here. CRITICALLY IMPORTANT: We must have the contact information of the person at the site who is responsible for contacting the freight liner to pick up the CP30 for shipment back to Betco.
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