Lessee may return the instrument to Lessor any time after the minimum rental term has been satisfied, provided that Lessee has given 30 days advance written notice and notwithstanding any other terms of this contract.
Lessee in good standing may apply all rental payments (excluding tax and any optional coverage) towards the purchase of this Instrument at the selling price listed on the contract for that particular instrument.
Lessee is severaly liable and 100% responsible for the full value of the leased property unless optional Instrument Protection Coverage, detailed below, is purchased by Lessee.
Lessee hereby authorizes Lessor or Lessor's agent to charge the monthly payments hereunder to the credit/debit card account provided by Lessee herein. Lessee agrees to keep this or another valid credit/debit card on file with Lessor at all times during this contract.
Lessee understands that any monthly rental payment which is not received by Lessor, for any reason, by the fifth (5th) calendar day of the month will incur a $10.00 late fee which will be assessed and added to Lessee' account balance. Accounts not cleared by the fifteenth (15th) of the month are subject to collection costs, court fees and other additional charges.
This online agreement will not become binding until Lessor has offered the subject property to Lessee, and Lessee has accepted the subject property from Lessor.
Term of Lease: The term of this lease shall be for the Minimum Rental Term specified in store, beginning as of that date and ending on the date the property is either returned voluntarily or involuntarily to Lessor, or purchased from Lessor.
Rent: Lessee remains obligated to pay the monthly rental fee for every month or fraction of a month that Lessee has not returned the property to Lessor. Lessee agrees to bring the account current upon the return of the property to Lessor and acknowledges that Lessor is entitled to retain all payments previously made under this rental contract.
Location of Property: Lessee shall not permit the property to be removed from his or her possession during the term of this rental agreement. Lessee agrees to notify Lessor in writing, within 10 days, as to any change in the location of Lessee and/or the property.
Inspection: Lessee shall inspected the property upon pickup and then acknowledge that the property is in good condition and repair and thereby only accept the property if the property is, in fact, in such good condition and repair.
Care of Property: Lessee agrees to use the property in a careful and proper manner and to comply with Lessor's and the manufacturer's instructions relating to the possession, use, maintenance, repair and operation of the property.
Alterations: Lessee agrees that it will allow no alterations of any kind to the property including putting stickers on or writing a name on the case. Lessee agrees to purchase a new case for any case so permanently marked with their child’s name.
Maintenance and Repair: Lessee shall at all times during the term of this rental agreement keep the property in good repair, condition and working order. Lessee agrees that no repair shop other than Lessor's may work on the above instrument without the prior written permission of Lessor. Lessee is advised that our typical minimum shop fee for repairs and/or adjustments to band and orchestra instruments is $60.00.
Instrument Protection Coverage: Lessee may purchase our Instrument Protection Coverage at an additional cost. This coverage will replace the instrument if it is lost or stolen due to fire or theft, provided a police report is filed within seven days of any such loss. This coverage will also pay for minor repair/service/maintenance charges to the instrument; including adjustments and string replacing. Our Instrument Protection Coverage is not comprehensive insurance and specifically excludes any and all damage caused by neglect, abuse or unreasonable depreciation due to damage or hard use.
Return of Property: On the expiration or earlier termination of this lease, Lessee shall return the property to Lessor' place of business in good repair, ordinary wear and tear resulting from proper use alone excepted. Such conditions for the return of the property are subject to Lessee's option to purchase the property as set forth below.
Lessee's Option to Purchase Property: Lessor grants to Lessee the option to purchase the property, provided that Lessee completely performs all of the terms and conditions of this lease on Lessee's part to be performed, including full payment of the lease payments. Should Lessee exercise the option to purchase, all of the lease payments paid shall be applied to the purchase price of the property less service charges if any according to the contract. On receipt of the balance of the purchase price by Lessor, together with applicable unpaid taxes, Lessor will transfer title to the property to Lessee. The instrument will remain the property of Lessor and will not become the property of Lessee until the full purchase price (including the selling price listed on this contract, plus any sales tax, service charges and late fees) have been paid.
Risk of Loss or Damage: If Lessee elects to NOT PURCHASE Instrument Protection Coverage, then Lessee assumes all risk of loss of and damage to the property from any cause; including loss due to fire or theft, even if another person was using the property at the time of loss or damage. No loss or damage to the property will impair any obligation of Lessee under this lease, which will continue in full force and effect. In the event the property is lost or damaged beyond repair, Lessee will be responsible for payment of 100% of the Selling Price, less any monthly payments previously made.
Events Constituting Default: The following events shall constitute default under this agreement: (a) The nonpayment by Lessee for a period of ten days of any sum required to be paid by Lessee that is not cured within 15 days of the payment due date; (b) The nonperformance by Lessee of any other term, covenant or condition of this lease that is not cured within ten days after notice of nonperformance from Lessor; (c) Any affirmative act of insolvency by Lessee, or the filing by Lessee of any petition under any bankruptcy, reorganization, insolvency, or moratorium law, or any law for the relief of, or relating to, debtors; or (d) The subjection of any of Lessee's property to any levy, seizure, assignment, application or sale for or by any creditor or governmental agency.
Lessor's Rights On Default: On the occurrence of any of the events of default described above, Lessor, without notice to or demand on Lessee, may retake possession of the property. Lessor is entitled to pursue all legal remedies available to it to enforce the terms of this contract, including the pursuit of a collection action to collect any amounts due under this contract. Lessee will be responsible for all costs incurred by Lessor, including collection costs, legal expenses, and attorneys' fees, to enforce the terms of this contract against Lessee. Any amounts turned over for formal collection will incur interest at the rate of 12% per annum from the date default occurred.
Rights of Reinstatement: If Lessee fails to make a monthly rental fee when due, Lessee may reinstate this contract without losing any rights or options previously acquired if he or she brings his or her account current within 15 days of the payment due date. Upon reinstatement, Lessor shall provide Lessee with the same instrument or a substitute instrument of comparable quality and condition. If monthly rental payments are over 10 days' late for three consecutive months or run over 30 days' late at any time, Lessee must return the property to Lessor, and all rental fees will be forfeited unless the balance of payments and any late fees are paid in full.
Ownership of Property: The property is, and shall at all times remain, the sole property of Lessor, and Lessee shall have no right, title or interest in the property except as expressly set forth in this lease. Lessor shall retain title to the property until such time, if ever, as Lessee chooses to exercise the option to purchase the property according to the contract.
Assignment by Lessor: Lessor may assign or transfer this contract, the instrument or its rights to receive payments under this lease at any time without notice to or approval from Lessee.
General Representations: Lessee warrants and represents that he or she is over 18 years of age and that the information provided herein is true and correct.