Equipment Rental Agreement
This Equipment Rental Agreement (“Agreement”) is effective as of the date of last signature (“Effective Date”), and is made between SAFE Publications, Inc., a Companyorganized under the laws of the Commonwealth of Pennsylvania with offices at 331 County Line Road, Hatboro, PA 19040 (“Lessor”), and __________________________ (“Lessee”).
Lessor rents to Lessee and Lessee rents from Lessor, subject to the terms and conditions of this Agreement: Signoscope T1 Professional Unit with Adapter (“Equipment”).
1. Term. This Agreement shall commence on the Effective Date and remain in full force and effect until Equipment is returned to Lessor. Until the Equipment is shipped back and shows up in the carrier’s possession, Lessee will be held liable. If the Equipment does not show up as tracked with the carrier, Lessee will be liable for the cost to replace the Equipment, or any late fees once the package begins to track with the carrier.
2. Payment. Lessee shall pay the following:
$99.95 per month plus applicable sales tax (defined herein as a 30 day period) for rental of the Equipment, with automatic monthly renewal until the Equipment has been received by the Lessor.
Lessee authorizes Lessor to charge the debit card or credit card on file with Lessor an amount equal to all payments and fees due under this Agreement. For each additional 30 day period Lessee keeps the Equipment, Lessee will be charged for another 30 day period plus applicable tax. If the Equipment is not returned to Lessor after the maximum Term of six months and have made six (6) monthly payments of Equipment Rental, ownership of unit will immediately transfer to Lessee and this Rental Agreement is automatically terminated. Lessee shall also be responsible for any additional charges in accordance with this Agreement due upon return of Equipment, including but not limited to:
a) applicable taxes;
b) loss of, or damage or repair to the Equipment, loss of use, diminution of the Equipment’s value caused by damage to it or repair to it, and costs to enforce such charges including administrative fees for processing the claim and legal expenses;
c) a $10.00 charge per day for late return of the Equipment or the highest amount allowable under law;
d) all fines, penalties, court costs and other expenses relating to the Equipment assessed against Lessor or the Equipment during the rental Term;
e) all expenses Lessor incurs due to Lessee’s failure to return the Equipment including costs in locating and recovering the Equipment;
f) all costs incurred to collect unpaid monies due.
3. Equipment.The Equipment shall include: a SAFE Signoscope Model T1 with 110V AC Adapter, Dustcover, Plastic Tube, Wrench, Vinyl Spacers, Replacement Light Bulb, and Instructions. All items listed must be returned to Lessor upon termination of the Agreement.
4. Late Payment. If Lessee fails to make any payment and/or if credit card is unable to be charged by due date, Lessee shall pay a surcharge of $10.00 per day for late payments until payment is made.
5. Location of Equipment. During the Term,Equipment shall be located solely at the address that the unit is initially shipped to Lessee, unless expressly agreed otherwise in writing by Lessor.
6. Care of Equipment. Equipment can only be used in a careful and proper manner and shall not be used in any way that is inconsistent with Lessor’s instructions or manuals.
7. Restrictions on Use. Lessee shall not:
a) permit the Equipment to be used by any person who is not authorized to use such Equipment;
b) operate or use the Equipment or permit it to be operated or used in violation of law;
c) operate, use, maintain or store the Equipment in a manner likely to cause damage to the Equipment;
d) sell, lease, consign or assign Equipment.
8. Repair and Alterations. Lessee, including but not limited to labor, material, parts and other items, shall pay the costs of all repairs made during the Term. Equipment shall not be serviced or repaired and parts and accessories shall not be replaced without Lessor’s prior consent. Lessee shall not remove, alter, disfigure or cover up any numbering, lettering, or insignia displayed upon the equipment, and shall see that the equipment is not subjected to careless, unusually or needlessly rough usage; and Lessee shall at his own expense maintain the equipment in good repair and operative condition, and return it in such condition to Lessor, ordinary wear and tear resulting from proper use thereof alone expected.
9. Lost, Damaged, or Unreturned Equipment.
Lessee hereby assumes and shall bear the entire risk of loss and damage to the Equipment from any and every cause. 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 Agreement.
In the event of damage of any kind to the Equipment, Lessee agrees to allow Lessor to charge Lessee’s credit card for the full cost of repair of said damaged Equipment. Lessor expressly reserves the right to choose the repair method and venue, within reasonable market value terms. Lessee and Lessor agree to be bound, legally and otherwise, by the report of Lessor’s chosen repair venue as to the cause of the damage to the Equipment. Lessee will also allow Lessor to charge Lessee's credit card for loss of use fees equivalent to an extension rate for the duration the equipment.
In the unlikely event that the Equipment appears damaged when Lessee receives Equipment via shipping carrier, Lessee must notify Lessor immediately within twenty-four (24) hours of receiving the shipment. Upon notification of suspected damage resulting from shipping of the Equipment, Lessor will send Equipment back to the Lessee for inspection and repair.
In the event of default, or a lost or unreturned item, Lessor reserves the right to pursue remedies against Lessee, including, but not limited to, taking immediate possession of the Equipment; obtaining, by Lessee’s credit card or otherwise, from Lessee the cost of the full retail price of a comparable substitute of Equipment and late fees assessed prior to deeming the Lessee in default or the Equipment lost or unreturned; notifying a collections agency, which immediately results in additional attorneys’ and collection fees being charged to Lessor. These remedies are not exclusive. In the event of litigation to recover any such damages, Lessee is held responsible for all legal fees and costs incurred by Lessor.
10. No Subletting Assignment. The equipment shall not be sublet by Lessee, nor shall he assign or transfer any interest in this Agreement without written consent of Lessor. Lessor may assign this Agreement without notice. Subject to the foregoing, this Agreement inures to the benefit of, and is binding upon, the heirs, successors, and assigns of the parties hereto.
11. Risk of Loss or Damage. Lessee shall alert Lessor to any damage to the Equipment. Lessee shall be responsible for any loss or damage to Equipment and loss of use, diminution of the Equipment’s value caused by damage to it or repair to it and missing equipment.
Lessor shall not be responsible for loss or damage to property, material, or equipment belonging to Lessee, its agents, employees, suppliers, or anyone directly or indirectly employed by Lessee while said material property, or equipment is in Lessor’s care, custody, control or under Lessor’s physical control. Lessee is encouraged to obtain appropriate insurance against such risk of loss. Lessee and its insurers waive all rights of subrogation against Lessor for such losses.
12. Return of Equipment. Lessee shall return Equipment to the Lessor in the same condition as Lessee received it, except for normal wear and tear. Lessee shall return the Equipment to the agreed return location and utilize pre-paid return label from the shipping carrier provided by Lessor. If Equipment is not returned on said date, Lessor reserves the right to take any action necessary to regain possession of the Equipment.
13. Termination. This Agreement shall terminate after inspection of returned Equipment by Lessor. Lessor reserves the right to terminate this Agreement earlier upon notice to Lessee.
14. Indemnification and Liability. Lessee shall indemnify Lessor against, and hold Lessor harmless from, any and all claims, actions, suits, proceedings, costs, expenses, damages, and liabilities, including attorney’s fees, arising out of, connected with, or resulting from the equipment or the Lease, including without limitation, the manufacture, selection, delivery, leasing, renting, control, possession, use, operation, maintenance or return of the equipment. Lessee shall further indemnify Lessor, and hold Lessor harmless from all loss and damage to the equipment during the rental period. Lessee recognizes and agrees that included in this indemnity clause, but not by way of limitation, is Lessee’s assumption of any and all liability for injury: disability and death of workmen and other persons caused by the operation, use, control, handling, or transportation of the equipment during the Term of this Agreement.
The provisions of this Article shall survive the termination of this Agreement with respect to any claims or liability accruing before such termination. IN NO EVENT SHALL LESSOR BE LIABLE FOR ANY INDIRECT, SPECIAL OR CONSEQUENTIAL LOSS OR DAMAGES ARISING FROM LESSEE’S USE OF EQUIPMENT, INCLUDING BUT NOT LIMITED TO LOSS PROFITS AND LOSS REVENUE, EVEN IF INFORMED OF THE POSSIBILITY OF SUCH DAMAGES. LESSOR FURTHER DISCLAIMS ANY LIABILITY WHATSOEVER FOR LOSS, DAMAGE, OR INJURY TO LESSEE OR THIRD PARTIES AS A RESULT OF ANY DEFECTS, LATENT OR OTHERWISE, IN THE EQUIPMENT. AS TO LESSOR, LESSEE LEASES THE EQUIPMENT “AS IS”. LESSOR SHALL NOT BE LIABLE IN ANY EVENT TO LESSEE FOR ANY LOSS, DELAY, OR DAMAGE OF ANY KIND OR CHARACTER RESULTING FROM DEFECTS IN, OR INEFFICIENCY OF, EQUIPMENT HEREBY LEASED OR ACCIDENTAL BREAKAGE THEREOF.
15. Ownership. Lessor shall at all times retain Ownership and Title to the Equipment. Lessee shall immediately notify Lessor in the event Equipment is levied, has a lien attached or is threatened with seizure. Lessee shall indemnify and hold Lessor harmless against all loss and damages caused by such action. Equipment shall be deemed at all times to be personal property, whether or not it may be attached to any other property. As noted in Section 2, if six (6) monthly payments have been made by Lessee, Ownership and Title immediately transfers to Lesse.
16. Waiver. No failure of Lessor to exercise or enforce any of its rights under this Agreement shall act as a waiver of subsequent breaches; and the waiver of any breach shall not act as a waiver of subsequent breaches. Lessor’s acceptance of payment with knowledge of a default by Lessee shall not constitute a waiver of any breach.
17. Bankruptcy. 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 12 (“Surrender.”) above; 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.
18.Remedies Cumulative: No Waiver; Severability. All remedies of Lessor hereunder are cumulative and may, to the extent permitted by law, be exercised concurrently or separately, and the exercise of any one remedy shall not be deemed to be an election of such remedy or to preclude the exercise of any other remedy. No failure on the part of the Lessor to exercise and no delay in exercising, any right or remedy, hereby shall operate as a waiver thereof; nor shall any single or partial exercise by Lessor of any right or remedy hereunder preclude any other or further exercise thereof or the exercise of any other right or remedy. If any term or provision of this lease is found invalid, it shall not affect the validity and enforcement of all remaining terms and provisions of this lease.
In the event any provision of this Agreement is held by a court or other tribunal of competent jurisdiction to be unenforceable, that provision will be enforced to the maximum extent permissible under applicable law, and the other provisions of this Agreement will remain in full force and effect. The Lessor and Lessee further agree that in the event such provision is an essential part of this Agreement, they will begin negotiations for a suitable replacement provision.
19. Entire Agreement. This Agreement represents the entire understanding relating to the subject matter hereof and prevails over any prior or contemporaneous, conflicting or additional communications. This Agreement can only be modified by a written amendment signed by the party against whom enforcement of such modification is sought.
20. Assignment. Lessee may not, without the prior written consent of Lessor, transfer or assign this Agreement or any part thereof. Any attempt to do so shall be a material default of this Agreement and shall be void.
21. Headings. Paragraph headings used in this Agreement are for reference only and shall not be used or relied upon in the interpretation of this Agreement.
22. Counterparts. This Agreement, and any amendment thereof, may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same document.
23. Governing Law. This Agreement shall be construed and enforced according to laws of the Commonwealth of Pennsylvania. Lessee and Lessor agree that any dispute between Lessee and Lessor will be settled within the Commonwealth of Pennsylvania.
Lessee acknowledges receipt of a copy of this Agreement and acknowledges having read and understood the foregoing.
LESSEE’S NAME (Print)
Signature SAFE Publications, Inc.