Equipment Rental Agreement
Fireside Industries Inc of 13954 W. Waddell Rd. Ste #103-487, Surprise, Arizona, 85379
OF THE FIRST PART
Individual Customer Seeking Rental
OF THE SECOND PART
(the Lessor and Lessee are collectively the "Parties")
IN CONSIDERATION OF the mutual covenants and promises in this Agreement, the receipt and sufficiency of which consideration is hereby acknowledged, the Lessor leases the Equipment to the Lessee, and the Lessee leases the Equipment from the Lessor on the following terms:
- The following definitions are used but not otherwise defined in this Agreement:
- "Casualty Value" means the market value of the Equipment at the end of the Term or when in relation to a Total Loss, the market value the Equipment would have had at the end of the Term but for the Total Loss. The Casualty Value may be less than but will not be more than the original purchase price of the Equipment.
- "Equipment" means CD6860R - Campfire Defender Pro-Camper Kit which has an approximate value of $249.95. OR CD3430 - Campfire Defender Ultra-Lite Kit which has an approximate value of 139.95.
- "Total Loss" means any loss or damage that is not repairable or that would cost more to repair than the market value of the Equipment.
The Lessor agrees to lease the Equipment to the Lessee, and the Lessee agrees to lease the Equipment from the Lessor in accordance with the terms set out in this Agreement.
3. Repair and Maintenance of Equipment
The Lessee will, at the Lessee's own expense, keep the Equipment in good repair, appearance and condition, normal and reasonable wear and tear excepted. The Lessee will supply all parts that are necessary to keep the Equipment in such a state.
If the Equipment is not in good repair, appearance and condition when it is returned to the Lessor, the Lessor may make such repairs or may cause such repairs to be made as are necessary to put the Equipment in a state of good repair, appearance and condition, normal and reasonable wear and tear excepted. The Lessor will make the said repairs within a reasonable time of taking possession of the Equipment and will give the Lessee written notice of and invoices for the said repairs. Upon receipt of such invoices, the Lessee will immediately reimburse the Lessor for the actual expense of those repairs.
The Lessee may, but is not obligated to, enforce any warranty that the Lessor has against the supplier or manufacturer of the Equipment. The Lessee will enforce such warranty or indemnity in its own name and at its own expense.
The Equipment will be in good working order and good condition upon delivery.
The Equipment is of merchantable quality and is fit for the following purpose: For Standard Outdoor Usage.
5. Loss and Damage
To the extent permitted by law, the Lessee will be responsible for risk of loss, theft, damage or destruction to the Equipment from any and every cause.
If the Equipment is lost or damaged, the Lessee will continue paying Rent, will provide the Lessor with prompt written notice of such loss or damage and will, if the Equipment is repairable, put or cause the Equipment to be put in a state of good repair, appearance and condition.
In the event of Total Loss of the Equipment, the Lessee will provide the Lessor with prompt written notice of such loss and will pay to the Lessor all unpaid Rent for the Term plus the Casualty Value of the Equipment, at which point ownership of the Equipment passes to the Lessee.
6. Ownership, Right to Lease and Quiet Enjoyment
The Equipment is the property of the Lessor and will remain the property of the Lessor.
The Lessee will not encumber the Equipment or allow the Equipment to be encumbered or pledge the Equipment as security in any manner.
The Lessor warrants that the Lessor has the right to lease the Equipment according to the terms in this Agreement.
The Lessor warrants that as long as no Event of Default has occurred, the Lessor will not disturb the Lessee's quiet and peaceful possession of the Equipment or the Lessee's unrestricted use of the Equipment for the purpose for which the Equipment was designed.
No insurance coverage for the Equipment is required under this Agreement.Default
The occurrence of any one or more of the following events will constitute an event of default ("Event of Default") under this Agreement:
- The Lessee fails to pay any amount provided for in this Agreement when such amount is due or otherwise breaches the Lessee's obligations under this Agreement.
- The Lessee becomes insolvent or makes an assignment of rights or property for the benefit of creditors or files for or has bankruptcy proceedings instituted against it under the Federal bankruptcy law of the United States or other competent jurisdiction.
- A writ of attachment or execution is levied on the Equipment and is not released or satisfied within 10 days.
- Declare the entire amount of the Rent for the Term immediately due and payable without notice or demand to the Lessee.
- Apply the Deposit toward any amount owing to the Lessor.
- Commence legal proceedings to recover the Rent and other obligations accrued before and after the Event of Default.
- Take possession of the Equipment, without demand or notice, wherever same may be located, without any court order or other process of law. The Lessee waives any and all damage occasioned by such taking of possession.
- Terminate this Agreement immediately upon written notice to the Lessee.
- Pursue any other remedy available in law or equity.
- Lessor: Fireside Industries Inc, 13954 W. Waddell Rd. Ste #103-487, Surprise, Arizona, 85379
10. Governing Law
It is the intention of the Parties to this Agreement that this Agreement and the performance under this Agreement, and all suits and special proceedings under this Agreement, be construed in accordance with and governed, to the exclusion of the law of any other forum, by the laws of the State of Arizona (the "State"), without regard to the jurisdiction in which any action or special proceeding may be instituted.
11. General Terms
This Agreement will extend to and be binding upon and inure to the benefit of the respective heirs, executors, administrators, successors and assigns, as the case may be, of each Party to this Agreement.
Neither Party will be liable in damages or have the right to terminate this Agreement for any delay or default in performance if such delay or default is caused by conditions beyond its control including, but not limited to Acts of God, Government restrictions, wars, insurrections, natural disasters, such as earthquakes, hurricanes or floods and/or any other cause beyond the reasonable control of the Party whose performance is affected.
12. Notice to Lessee
NOTICE TO THE LESSEE: This is a lease. You are not buying the Equipment. Do Not Purchase a rental before you read this Agreement. You are entitled to a completed copy of this Agreement.