Rental Agreement Information
Please Note the Following Conditions:
Equipment not returned by 10am will be charged rent for that day
Rental returned incomplete or damaged will be charged at full replacement value
Accrued rental prices do not apply against purchase price
Review clause # 6 below pertaining to insurance coverage
All new and C.O.D Accounts must supply a Visa number and Photo I.D for security deposit
THE RENTER HAS THE PRIVILEDGE TO EXAMINE AND TEST EQUIPMENT AT TIME OF RENTAL. THE OWNER DOES NOT GUARUNTEE, ASSUME RESPONSIBILITY, OR MAKE ANY REPRESENTATIONS FOR THE PERFORMANCE OF EQUIPMENT. TITLE TO THE EQUPMENT AT ALL TIMES AND UNDER ANY AND ALL CIRCUMSTANCES SHALL REMAIN WITH THE OWNER. THE RENTER ACKNOWLEDGES THAT HE/SHE HAS RECEIVED THE EQUIPMENT DESCRIBED ABOVE SUBJECT TO THE CONDITIONS SET FORTH BELOW THIS FORM HEREOF, WHICH CONDITIONS ALL ARE MADE A PART OF THIS AGREEMENT
When out on daily rental Sunday to be paid when used.
1. The renter shall, at his own cost and expense, during the term of rental, keep and maintain, in his own custody, at the aforesaid address, the said equipment in good state of condition and repair, reasonable wear and tear excepted, and shall at the termination of the rental replace such of the said equipment as may be lost, stolen or missing or broken or damaged, otherwise than by reasonable wear and tear, by others of a similar nature and of equal value or shall pay to the owner compensation on account of any of the said articles which may be lost, stolen or missing or broken or damaged.
2. The renter further agrees to be an insurer of the equipment for the period that the equipment is away from the premises of CINE-SOURCE SALES & SERVICES Ltd., (hereinafter described as "CINE-SOURCE"), against any loss whatsoever and to assume full responsibility for all equipment rented, and also agrees to compensate CINE-SOURCE to the full value should said equipment be lost, stolen or missing or broken or damaged by any cause whatsoever, whether due to renter's fault or not. The renter further agrees to compensate the owner in rent for any time lost as a result of replacement or the necessity for making repairs on said equipment lost stolen or missing or broken or damaged otherwise than as the result of the reasonable wear and tear.
3. The renter further agrees that the leased property described herein will not be taken from the ground in an aeroplane or any machine used for air travel either lighter or heavier than air, without written consent of the owner first obtained.
4. The renter shall not remove any equipment from the address hereinabove set forth, without first having notified CINE-SOURCE and first obtained from it consent in writing, for such removal therefrom.
5. The equipment herein shall be delivered and returned by the renter at his own risk, cost and expense. Rental of all equipment taken out must be paid for the period of time until it is returned to CINE-SOURCE. No allowance will be made for the reason that any part of it was not used.
6. The renter shall, at his own cost and expense, but for the benefit of CINE-SOURCE, immediately insure the said equipment for the full value against loss, or damage by fire, theft, water, or act of God, by Floater Insurance in a qualified, reputable insurance company and shall deliver the said insurance policy to CINE-SOURCE together with the receipt for premiums thereunder. If CINE-SOURCE, by reason of such insurance against loss by fire, theft, water, or act of God, shall receive any sum or sums of money, such amount may be retained and applied by it towards the repair or replacement of the said equipment, or it may remove the damaged equipment and, in lieu thereof, substitute new equipment of like kind and quality, and any equipment, whether repaired of substituted, shall be subject to all the terms, provisions and conditions herein.
7. It shall be lawful for CINE-SOURCE or its agents, at all reasonable times, to enter the premises upon which said equipment is kept for the purpose of viewing the state and condition of said equipment.
8. If the renter shall default on any of the terms, covenants and conditions herein, or in punctually making any of the payment aforesaid, or if any execution or other writ or process shall be issued in any action or proceeding against the renter, whereby the said equipment may be seized or taken or detained or if a proceeding in bankruptcy, receivership or insolvency shall be instituted by or against the renter or his property, or if the renter shall enter into any arrangement or composition with his creditors, or in the event that any judgment is obtained against the renter, then and in any such event, CINE-SOURCE shall have the options to retake immediate possession of said equipment and, for such purpose, CINE-SOURCE its agents or employees, may enter upon any premises where said equipment may be, and may remove the same therefrom, with or without force, and with or without notice of intention to retake the same, without being liable to any suit or action or other proceeding by the renter.
9. Upon the CINE-SOURCE retaking possession of the said equipment, pursuant to the provisions of the preceding article hereof, this agreement shall thenceforth terminate, without prejudice to any fight or claim for arrears of rent, if any, or on account of any preceding breach or breaches of this agreement, or the loss of rental for the balance of the unexpired term herein, or for any other claim that CINE-SOURCE may have against the renter.
10. The renter shall not sublease the said equipment or loan the same to any person, firm or corporation, and said equipment shall at all times remain under the immediate control, supervision and direction of the renter personally.
11. The renter agrees not to remove or cover the tag or name plate on the equipment showing ownership in CINE-SOURCE.
12. The renter does hereby grant to CINE-SOURCE an option to terminate this agreement on 24 hours' written notice by registered mail or personal service. On the occurrence of said event, the renter shall immediately return to CINE-SOURCE at the renter's risk and expense, the equipment, in the same condition as when first rented, and CINE-SOURCE shall, thereupon, upon said receipt, refund the unexpired portion of the rental, if any.
13. "The renter agrees to pay a sum equal to 25% of any outstanding indebtedness incurred by CINE-SOURCE for attorney's fees in addition to any other costs incurred by CINE-SOURCE in protecting its rights or property under this agreement, or in suing the renter for a breach of this agreement."
14. The acceptance of the return of the rented equipment is not a waiver by CINE-SOURCE of any claims that it may have against the renter, nor a waiver of claims for latent or patent damage to the equipment.
15. This agreement contains the entire understanding between the parties, including representations, and may not be modified except by another agreement in writing, signed by both parties to this agreement.
16. No terms, representation or warranty, express or implied, not herein set forth in writing shall bind CINE-SOURCE.
17. In the event the rental due, CINE-SOURCE is not paid within 30 (THIRTY) days after the due date, then the Lessee shall pay to CINE-SOURCE as additional rental, a sum equal to 11/2,10 (one and one-half percent) per month of the unpaid rental from the date that such rental was due until the same shall be paid.