Equipment Rental Terms and Conditions

EQUIPMENT RENTAL AGREEMENT

THIS EQUIPMENT RENTAL AGREEMENT (this "Agreement") is made effective as of the date listed on the accompanying Rental Form, by and between:

Jackson Audio & Music Supply LLC, located at 127 W. Main Street, Jackson, MO 63755 (the "Lessor")

OF THE FIRST PART

  • AND -

The individual or entity listed as “Lessee” on the accompanying Rental Form (the "Lessee"), whose address is also listed on said form,

OF THE SECOND PART

(The Lessor and the Lessee are collectively referred to as the “Parties”)

1. Definitions

  1. The following definitions apply:

    • “Casualty Value” means the market value of the Equipment at the end of the Term, or if a Total Loss occurs, the estimated market value it would have had at the end of the Term, not exceeding the original purchase price.

    • “Equipment” refers to the items described on the accompanying Rental Form, along with their estimated value.

    • “Total Loss” means unrecoverable or non-repairable damage or loss exceeding the Equipment’s value.

2. Lease Terms

  1. The Lessor agrees to lease and the Lessee agrees to rent the Equipment described in the Rental Form under the terms of this Agreement.

3. Term

  1. The lease begins and ends on the dates specified in the Rental Form (the “Term”).

4. Payment Terms

  • Total Fee for Rental: As specified in the Rental Form.

  • Non-Refundable Deposit: Due upon execution.

  • Balance Due: Prior to Equipment pickup.

  • Deposits are non-refundable unless approved by the Lessor.

5. Residual Value & Purchase Option

  1. Residual Value is equal to Casualty Value unless renegotiated at purchase.

  2. Lessee may purchase the Equipment at the end of the Term by paying: a. Residual Value; and
    b. Any applicable fees and taxes.

7. Delivery & Use

  1. Lessee is responsible for pickup and return at their own risk and cost.

  2. Equipment must be used properly, as intended, and in compliance with all laws.

  3. Lessee must not modify or alter the Equipment without written consent.

10. Maintenance & Return

  1. Lessee is responsible for keeping Equipment in good working condition.

  2. If returned damaged, Lessee must reimburse repair or replacement costs.

  3. Equipment must be returned by the end of the Term or Lessee may be charged the Casualty Value plus 10%.

13. Warranties

  1. Equipment will be provided in working condition and suitable for musical purposes.

14. Loss, Damage, and Insurance

  1. Lessee assumes full responsibility for loss or damage.

  2. Lessee agrees to:

  • Carry insurance covering Equipment replacement value, and

  • Maintain liability coverage of at least $250,000 naming the Lessor as loss payee.

15. Taxes & Indemnity

  1. Lessee is responsible for all taxes and penalties associated with the Equipment.

  2. Lessee agrees to indemnify Lessor against any claims arising from Equipment use.

16. Default & Remedies

  1. If the Lessee defaults, Lessor may:

  • Demand full Rent and Casualty Value immediately.

  • Repossess the Equipment without notice.

  • Pursue legal action or terminate the Agreement.

17. Assignment & Renewal

  1. Lessee may not assign this Agreement without Lessor’s written consent.

  2. Agreement may be renewed in writing if no default exists and notice is given at least 7 days prior to expiration.

18. Additional Clauses

  1. Jackson Audio & Music Supply LLC is not responsible for damages, injuries, or malfunctions caused by Equipment use.

  2. Equipment is subject to inspection. Any damage or failure to return will result in charges up to the Casualty Value.

  3. Late returns may result in charges to the Lessee’s original payment method.

19. Miscellaneous

  1. This Agreement, along with the Rental Form, constitutes the entire agreement.

  2. Governing law is the State of Missouri.

  3. Any invalid provisions shall not affect the remainder of this Agreement.

  4. Notices to the Lessee will be delivered personally or via the contact information provided on the Rental Form.

  5. Time is of the essence.

  6. Facsimile or electronic signatures are binding.

  7. Lessee acknowledges this is a rental, not a purchase.

NOTICE TO LESSEE: This is a lease. You are not purchasing the Equipment. Read this Agreement and the Rental Form carefully before purchasing. You may visit this page at any time to view/print the agreement.