Items And Equipment Rental Agreement Template & Disclaimer (Page 2 of 3) in pdf

RENTAL AGREEMENT & DISCLAIMER

1.Payment Terms. Unless otherwise agreed, payment terms are net 30 days after date of invoice. If any special circumstances

discount has been offered and the invoice has not been paid within its terms, Renter agrees to pay the full amount of the invoice,

excluding the discount.

2.Returns. Renter agrees to return all items in the same condition as received. All cables must be properly coiled and tied and

hardware must be removed from units, or Renter agrees to pay a service charge. If the Equipment is not returned in good

condition on the Return Date, prorated rental fees continue on a daily basis. COMPANY’s acceptance of the return of the

Equipment is not a waiver by COMPANY of any claims it may have against Renter, including claims for latent damage to the

Equipment. If repairs or replacements are required, Renter agrees to pay all labor, material and shipping charges. Renter shall

pay COMPANY Full Replacement Value (see paragraph 6 below) to replace any Equipment which is lost, stolen or damaged

beyond repair.

3.Responsibility for Equipment, Indemnity. Upon acceptance by Renter of the Equipment on a will-call basis, or upon delivery of

the Equipment to Renter’s destination, Renter agrees to inspect the Equipment within twenty-four (24) hours after acceptance or

delivery. All defects or malfunctions must be reported to COMPANY within that time. Renter shall hold COMPANY harmless and

indemnify COMPANY from all claims, liabilities, damages, costs or losses arising from or related to injury or damage to the

Equipment or to persons or property arising from or related to the use, maintenance, storage or transport of the Equipment during

the period of Renter’s responsibility. Renter shall indemnify and hold COMPANY harmless from any claims, liabilities, damages,

costs or losses arising from claims against the Equipment asserted by Renter’s creditors.

4.No Damages, Assumption of Risk. Renter acknowledges there is a risk of losses, injuries or damages arising from or related to

the use or transportation of the Equipment and assumes all risk of such losses, injuries or damages. Renter for itself and its

Customers releases COMPANY from any and all responsibility or liability for such losses, injuries or damages which Renter or its

Customers may experience arising from or related to the failure, use, maintenance, storage or transport of the Equipment.

5.Location. Renter shall not remove the Equipment from the _Ship To_ site without the prior written consent of COMPANY.

6.Use. Renter shall use the Equipment in a prudent and proper manner and in compliance with all applicable manufacturer’s

specifications and government requirements. Renter shall not make any alterations, additions, repairs or improvements to the

Equipment. The Equipment may not be used for any Event other than described in this Agreement nor may the Equipment be

pledged, used, loaned, sublet or assigned to third parties.

7.Losses & Insurance. This paragraph is applicable only if the amount of a Security Deposit is not set forth on this Rental

Agreement. Renter shall keep the equipment insured against all risks of loss or damage from every cause whatsoever for not less

than the Full Replacement Value and shall carry public liability and property damage insurance covering the equipment. Full

Replacement Value is agreed to be ten (10) times the standard list rental for each item rented. All said insurance shall be in form

and with companies approved by COMPANY and shall be in the joint names of Renter and COMPANY. Renter shall pay the

premiums thereof and deliver said policies, or duplicates thereof, to COMPANY. Each insurer shall agree, by endorsement upon

the policy or policies issued by it or by independent instrument furnished to COMPANY, that it will give COMPANY ten (10) days

written notice before the policy shall be altered or cancelled. The proceeds of such insurance, at the option o COMPANY, shall be

applied toward either or both of the following: (a) the replacement, restoration, or repair of the equipment; or (b) the payment of

the obligations of Renter hereunder. Renter hereby appoints I COMPANY as Renter’s attorney-in-fact to make claim for, receive

payment of, and execute and endorse documents, checks, or drafts for loss or damage under any such insurance policy.

8.Default. If Renter is unable to timely meet any of its obligations to COMPANY under this or any other agreement, or if the

Equipment is levied upon or seized, Renter shall immediately notify COMPANY and COMPANY may pursue whatever remedies it

has under the law or in equity. Renter hereby authorizes COMPANY to enter the premises upon which the Equipment is located to

take possession and remove all of the Equipment from such site without court order or other process of law and to use what force

is reasonably necessary to remove such Equipment. Renter hereby waives any and all claims or damages occasioned by such

entry or removal. All amounts past due shall bear interest at the highest rate permitted by law.

9.Title to Goods. The Equipment is the sole and exclusive property of COMPANY and Renter has no right, title or interest therein,

except as set forth in this Agreement. Renter will not alter ownership markings on the Equipment. Renter will keep the Equipment

free from the claims of third parties.

10.Specifications, No Warranty. Renter has selected the Equipment to its own specifications and THERE IS NO WARRANTY,

EXPRESS OR IMPLIED, THAT THE EQUIPMENT IS MERCHANTABLE OR FIT FOR RENTER’S PARTICULAR PURPOSE.

11.Attorneys_ Fees. If either party shall retain legal counsel or bring an action against the other for matters arising from or related

to this Rental Agreement, the unsuccessful party shall pay to the prevailing party reasonable attorneys_ fees and other costs

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