THE PARTIES. This Equipment Rental Agreement (“Agreement”) is made on this day by and between LESSOR and LESSEE, each referred to herein as a "Party" and collectively as the "Parties."
EQUIPMENT DESCRIPTION. The Lessor hereby leases to Lessee the "Equipment" as described above.
LEASE TYPE. This Agreement shall be considered a fixed agreement during the "Lease Term." At the end of the Lease Term and no renewal is made, the Lessee shall be required to return the Equipment to the Lessor.
RENT. The Lessee agrees to pay the Lessor the amount stated above for leasing the Equipment (“Rent”) that shall be paid for the total amount of Rent under this Agreement, barring any extensions or renewals. A copy of the Paid Invoice is Attached. a) Rent Instructions. The Rent shall be paid in the following manner: RENT SHALL BE PAID BY THE LESSEE PRIOR TO THE RELEASE OF ANY EQUIPMENT BY THE LESSOR. THIS WILL BE DONE EITHER BY CREDIT CARD PAYMENT, CASH OR APPROVED CHECK MADE PAYABLE TO E & E EQUIPMENT RENTAL & SERVICES, LLC.
FAILURE TO RETURN EQUIPMENT. If any equipment is returned late under this Agreement, the Lessee will be obligated to pay 120% of the advertised daily rate for each day the equipment has not been returned to the Lessor. This charge will be initiated the minute after the scheduled return of the equipment and will continue until the said equipment is returned to the Lessor. If the equipment is not returned within three (3) days of the scheduled return date as per this Agreement AND no contact has been made with the Lessee that satisfies the Lessor, it is understood the qualification of theft of rental property as described by Tennessee Code Title 39. Criminal Offenses § 39-14-108 AND may be pursued as criminal and civil law will allow.
NON-SUFFICIENT FUNDS. The Lessee shall be charged $30 for each check that is returned to the Lessor for lack of sufficient funds.
SECURITY DEPOSIT. Prior to taking possession of the Equipment, the Lessee shall be required to pay a deposit as stated above ("Security Deposit") for the performance by the Lessee under this Agreement for damages caused by the Lessee or Lessee’s agents to the Equipment during the Lease Term. In addition, the Security Deposit may be applied to any amount owed by the Lessee to the Lessor. This security deposit does not relieve the Lessee of responsibility of turning in equipment. If damage to the rented equipment is valued over the amount of the security deposit, the Lessee is responsible for the difference. It is highly recommended that the Lessee have liability coverage for the rented equipment and may be required if so determined by the Lessor.
DELIVERY OR PICK UP OF EQUIPMENT. The DELIVERY or PICK UP of the Equipment to the Lessee at the start of the Lease Term AND returning to the Lessor at the end of the Lease Term shall be the responsibility of either the Lessor or Lessee as agreed above.
REPAIRS AND MAINTENANCE. If for any reason the Equipment shall need repairs or maintenance due to normal wear-and-tear, the Lessor shall be responsible.
INSURANCE REQUIREMENT. The Lessor may require that the Lessee have Casualty Insurance to cover the Equipment in an amount up to $100,000.00 for its damage or replacement.
ACCEPTANCE OF EQUIPMENT. The Lessee shall inspect each item and part of the Equipment upon DELIVERY or PICK UP and pursuant to this Agreement. The Lessee shall inform the Lessor of any discrepancies upon DELIVERY or PICK UP of the Equipment. If for any reason the Lessee claims the Equipment was not the same or as described under this Agreement, the Lessee shall be able to cancel rental of the Equipment and obtain a full refund for any Rent or Security Deposit. If the Equipment was delivered at the request and by payment of the Lessee, the delivery fee will be 50% refunded. The Lessee will always have the option to inspect the Equipment prior to delivery.
USE OF EQUIPMENT. Lessee shall only use the Equipment in a careful and proper manner and will comply with all laws, rules, ordinances, statutes and orders regarding the use, maintenance of storage of the Equipment. Additional instructions: See equipment operation instructions (attached, if applicable).
ASSIGNMENT. The Lessee is strictly prohibited from assigning or subletting the Equipment in any manner unless written consent is given by the Lessor. In addition, the Equipment may not be used by any person other than the Lessee and Lessor approved persons.
NO WARRANTY. The Lessor makes no warranties, express or implied, as to the leased Equipment. The Lessee assumes responsibility for the condition of the Equipment.
RISK OF LOSS OR DAMAGE. The Lessee assumes all risk of loss or damage to the Equipment from any cause and agrees to return it to the Lessor in the condition received, with the exception of wear and tear, unless otherwise provided in this Agreement.
a) Damaged or Lost Equipment. Unless otherwise provided in this Agreement, if the equipment is damaged or lost, the Lessor shall have the option of requiring the lessee to either repair the Equipment to a state of good working order or to replace the Equipment with like-equipment and in equal condition. The final decision for approval of any lost or damaged Equipment will be ultimately up to the Lessor.
TAXES AND FEES. During the Lease Term, the Lessor shall be responsible and be required to pay any applicable taxes, assessments, license, registration, or any other fees associated with the handling and operation of the Equipment.
LESSORS REPRESENTATIONS. Lessor represents and warrants that he/she has the right to lease the Equipment as provided in this Agreement and that Lessee shall be entitled to quietly hold and possess the Equipment, and Lessor will not interfere with that right as long as Lessee pays the Rent in a timely manner and performs all other obligations under this Agreement.
OWNERSHIP. The Equipment is and shall remain the exclusive property of Lessor.
DEFAULT. The occurrence of any of the following shall constitute a default under this Agreement: a) Failure of Payment. The failure of the Lessee to make a required payment under this Agreement; b) Violation of Agreement. The violation of any provision of this Agreement that is not corrected within three (3) business days after written notice has been received.
RIGHTS UNDER DEFAULT. If the Lessee shall default under this Agreement, and without notice to or demand on the Lessee, the Lessor may take possession of the Equipment as provided by law with the right to deduct the costs of recovery, including any attorney’s fees and legal costs, in addition to any repair or other costs to obtain the Equipment and bring to the same condition as the Lessee received upon initial delivery.
SEVERABILITY. If any portion of this Agreement shall be held invalid or unenforceable for any reason, the remaining provisions shall constitute to be valid and enforceable. If a court finds that any provision of this Agreement is invalid or unenforceable, but that by limiting such provision, that it would become valid and enforceable, then such provision shall be deemed to be written, construed, and enforced as so limited.
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.
GOVERNING LAW. This Agreement shall be construed and governed in accordance with the laws located in the State of Tennessee, where the Equipment is being rented.
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 LESSEE and LESSOR at their respective addresses.
ENTIRE AGREEMENT. This Agreement constitutes the entire agreement between the Parties. No modification or amendment of this Agreement shall be effective unless in writing and signed by both Parties. This Agreement replaces any and all prior agreements made between the Parties.
CUMULATIVE RIGHTS. Lessor’s and Lessee’s rights under this Agreement are cumulative and shall not be construed as exclusive of each other unless otherwise required by law.
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 Lessor does not waive Lessor’s right to enforce any provisions of this Agreement.
INDEMNIFICATION. Except for damages, claims or losses due to Lessor’s acts or negligence, Lessee, to the extent permitted by law, will indemnify and hold Lessor and Lessor’s property, free and harmless from any liability for losses, claims, injury to or death of any person, including Lessee, or for damage to property arising from Lessee using and possessing the Equipment or from the acts or omissions of any person or persons, including Lessee, using or possessing the Equipment with Lessee’s express or implied consent.