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This rental, effective the date you pick up the instrument, is between Musicville, LLC as "Lessor", and you the customer stated herein as "Lessee". Subject to the terms and conditions stated herein and which may be further clarified in store, Musicville agrees to rent to Lessee the musical instrument described herein and sometimes referred to as the Property.
Please be advised that this agreement constitutes a rental transaction only, and it does not automatically convert to a sale. Prior to rental approval, the Lessee’s credit will be subject to evaluation, including a credit check, based on the terms and conditions set forth by Musicville, LLC.
Lessee must be a live-in parent or guardian who lives locally and whose child attends a local school. In order to pick-up said instrument at Lessor’ place of business, Lessee must be prepared to show their Drivers License along with any other documents that Musicville may deem necessary to prove local residency and financial responsibility.
Term: Lessee agrees to rent the instrument for a minimum period of four (4) months. All payments must be paid by Lessee’ bank card, not by cash or check. Following this initial rental period, the Lessee may terminate this agreement without penalty by returning the instrument to Musicville, LLC, provided that all rental payments are up-to-date until the date of return.
Cleaning Deposit: We kindly request a $20.00 Cleaning Deposit (non-refundable) to secure and process your rental.
Lease Option to Buy: Lessee in good standing may apply all rental payments (excluding tax and any optional coverage) towards the purchase of this Instrument at the selling price listed on the contract for that particular instrument. In the event that the manufacturer's express warranty covers the instrument at the time the renter acquires ownership, the warranty will be transferred to the Lessee. On receipt of the balance of the purchase price by Lessor, together with applicable unpaid taxes, Lessor will transfer title to the property to Lessee. The instrument will remain the property of Lessor and will not become the property of Lessee until the full purchase price (including the selling price listed on this contract, plus any sales tax, service charges and late fees) have been paid.
Lessee wanting to purchase a “step up” instrument may apply 50% of all rental payments (excluding tax and any optional coverage) towards the purchase of a “step up” instrument. (i.e. applying 50% paid rental payments for a 1/2 size violin towards the purchase of a 3/4 size violin)
Lessee assumes responsibility for any damages to the instrument and is obliged to maintain it in good condition. Additionally, the Lessee is liable for any loss, theft, or destruction of the instrument, unless covered by a separate Maintenance and Replacement agreement (M&R). Relocation of the instrument is not permitted without the prior consent of Musicville, LLC. Any transfer, loss, or deduction of the instrument shall not be considered payment or release the Lessee from the obligations stated herein.
Lessee understands that any monthly rental payment which is not received by Musicville, for any reason, by the tenth (10th) calendar day of the month will incur a $10.00 late fee which will be assessed and added to Lessee’s account balance. Accounts not cleared by the fifteenth (15th) of the month are subject to collection costs, court fees and other additional charges.
Lessee is liable and 100% responsible for the full value of the rental property unless optional Maintenance and Replacement Coverage, detailed below, is purchased by Lessee.
Maintenance and Repair Coverage: Lessee may purchase our M&R Coverage at an additional cost. This coverage will replace the instrument if it is stolen due to fire or theft provided a police report is filed within seven days of any such loss. This coverage will also pay for minor repair/service/maintenance charges to the instrument; including adjustments and string replacing. Our Maintenance and Repair Coverage is not comprehensive insurance and specifically excludes any and all damage caused by neglect, abuse or unreasonable depreciation due to damage or hard use.
Auto Pay: Lessee hereby authorizes Musicville to charge the monthly payments hereunder to the credit/debit card account provided by Lessee herein. Lessee agrees to keep a valid credit/debit card on file with Musicville at all times during this contract.
This agreement will not become binding until Lessor has offered the subject property to Lessee, and Lessee has accepted the subject property from Musicville.
Additional Terms
Location of Property: Lessee shall not permit the property to be removed from his or her possession during the term of this rental agreement. Lessee agrees to notify Musicville in writing within 10 days as to any change in the location of Lessee and/or the property.
Inspection: Lessee shall inspect the property upon pickup and then acknowledge that the property is in good condition and and thereby only accept the property if the property is, in fact, in such good condition.
Care of Property: Lessee agrees to use the property in a careful and proper manner and to comply with Musicville’s and the manufacturer's instructions relating to the possession, use, maintenance, repair and operation of the property.
Alterations: Lessee agrees that it will allow no alterations of any kind to the property including putting stickers on or writing a name on the case. Lessee agrees to purchase a new case for any case so permanently marked with their child’s name.
Maintenance and Repair: Lessee shall at all times during the term of this rental agreement keep the property in good repair, condition and working order. Lessee agrees that no repair shop other than Musicville may work on the above instrument without the prior written permission. Lessee is advised that our typical minimum shop fee for repairs and/or adjustments to band and orchestra instruments is $60.00.
Return of Property: On the expiration or earlier termination of this rental, Lessee shall return the property to Lessor’s place of business in good repair, ordinary wear and tear resulting from proper use alone excepted. Such conditions for the return of the property are subject to Lessee’s option to purchase the property as set forth below.
Risk of Loss or Damage: If Lessee elects to NOT PURCHASE M&R Coverage, then Lessee assumes all risk of loss of and damage to the property from any cause; including loss due to fire or theft, even if another person was using the property at the time of loss or damage. No loss or damage to the property will impair any obligation of Lessee under this lease, which will continue in full force and effect. In the event the property is lost or damaged beyond repair, Lessee will be responsible for payment of 100% of the Selling Price, less any monthly payments previously made.
Events Constituting Default: The following events shall constitute default under this agreement: (a) The nonpayment by Lessee for a period of ten days of any sum required to be paid by Lessee that is not cured within 15 days of the payment due date; (b) The nonperformance by Lessee of any other term, covenant or condition of this lease that is not cured within ten days after notice of nonperformance from Lessor; (c) Any affirmative act of insolvency by Lessee, or the filing by Lessee of any petition under any bankruptcy, reorganization, insolvency, or moratorium law, or any law for the relief of, or relating to, debtors; or (d) The subjection of any of Lessee's property to any levy, seizure, assignment, application or sale for or by any creditor or governmental agency.
Lessor's Rights On Default: On the occurrence of any of the events of default described above, Lessor, without notice to or demand on Lessee, may retake possession of the property. Lessor is entitled to pursue all legal remedies available to it to enforce the terms of this contract, including the pursuit of a collection action to collect any amounts due under this contract. Lessee will be responsible for all costs incurred by Lessor, including collection costs, legal expenses, and attorneys' fees, to enforce the terms of this contract against Lessee. Any amounts turned over for formal collection will incur interest at the rate of 12% per annum from the date default occurred.
Rights of Reinstatement: If Lessee fails to make a monthly rental fee when due, Lessee may reinstate this contract without losing any rights or options previously acquired if he or she brings his or her account current within 15 days of the payment due date. Upon reinstatement, Lessor shall provide Lessee with the same instrument or a substitute instrument of comparable quality and condition. If monthly rental payments are over 10 days' late for three consecutive months or run over 30 days' late at any time, Lessee must return the property to Lessor, and all rental fees will be forfeited unless the balance of payments and any late fees are paid in full.
Ownership of Property: The property is, and shall at all times remain, the sole property of Lessor, and Lessee shall have no right, title or interest in the property except as expressly set forth in this lease. Lessor shall retain title to the property until such time, if ever, as Lessee chooses to exercise the option to purchase the property according to the contract.
General Representations: Lessee warrants and represents that he or she is over 18 years of age and that the information provided herein is true and correct.