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Equipment Rental Agreement/Waiver and Release of Liability

THIS EQUIPMENT RENTAL AGREEMENT (this "Agreement") dated (rental date) BETWEEN: Bama Beach Buggies, LLC (the "Lessor") OF THE FIRST PART –AND – (the "Lessee") 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:

 

Definitions

1. The following definitions are used but not otherwise defined in this Agreement:

a. "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.

b. "Equipment" means Beach Buggies and any accompanied accessories, approximate value of up to $5,000.00.

c. "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.

 

Lease

2. 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.

Term

3. The Agreement commences on (rental date) and will continue for entire length of rental (the "Term").

Rent and Deposit

4. The rent for the Equipment, inclusive of sales tax, will be (the "Rent") and the Rent will be paid prior to the Lessee taking possession of the Equipment0.

5. The Lessor will, at the Lessor's own expense and risk, deliver the Equipment to the Lessee at to any Southern Alabama beach location.

 

Use of Equipment

6. The lessee will abide by all rules and regulations. 

a.  The lessee shall not ride in or drive inside the buggy.  Children under the age of 5 may ride in the buggy but should always remain seated inside of the buggy with their seatbelt on.  Only approved seats from Bama Beach Buggies are allowed for children riding in the buggy.  

b.  The lessee shall not stand inside of the buggy at any time.

c.  The lessee shall avoid pulling the buggy within 10 ft. of all wildlife, including but not limited to; sea turtles, birds, snakes, alligators and fish.  

d.  The lessee shall not take the equipment on restricted areas of the beach, protected lands/dunes or any other area that are restricted by local, state or federal regulations.

e. The lessee shall not take the equipment into the ocean, lake or other body of water.

f.  The lessee shall not take the equipment onto any roadways, streets, public walkways or areas where vehicles are present. 

g.  The lessee shall obey all local ordinances, rules and regulations.

Warranties

7. The Equipment will be in good working order and good condition upon delivery.

8. The Equipment is of merchantable quality and is fit for the purposes it is ordinarily used.

 

Loss and Damage

9. 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.

a. Late fee: $25 for every 15 minutes after the agreed upon times.

b. Low charge fee: $50 if wagon is not fully charged at time of pick-up. The voltmeter should be above 26.5 volts.

c. No wagon return fee: If the wagon is not returned, Lessee is responsible to pay the remaining balance of the wagon minus the rental fee

d. Danage fees: Lessee is responsible for damages incurred during the rental period. Dame fees will be determined based on the extent of damages upon return inspection. Lessee will provide an estimate for damage fees. Lessee will be charged $100 each for dents, scratches, chips, and other paint damages to frame and railings.

e. Repair calls: If a repair is needed during the rental period due to damage cause by lessee, the hourly rate for repairs is $100/hour, including travel time. Fees for broken components will be in addition to the labor fees. Lessor has the right to end this agreement early and take wagon back without reimbursements if Lessee is deemed negligent for causing damage.

f. Lost component fees: A $100 fee will be charged for each lost component. Components include the charger (1), railings (4), handle (1), wheels (4), wagon bed (1).

10. 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.

11. 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.

Ownership, Right to Lease and Quiet Enjoyment

12. The Equipment is the property of the Lessor and will remain the property of the Lessor.

13. The Lessee will not encumber the Equipment or allow the Equipment to be encumbered or pledge the Equipment as security in any manner.

14. The Lessor warrants that the Lessor has the right to lease the Equipment according to the terms in this

Agreement.

15. 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.

 

Surrender

16. At the end of the Term or upon earlier termination of this Agreement, the Lessee will make the Equipment available for pick up at from the location of original drop off. If the Lessee fails to make the Equipment available for pick up, the Lessee will pay to the Lessor any unpaid Rent for the Term plus the Casualty Value of the Equipment plus 10% of the Casualty Value, at which point ownership of the equipment will pass to the Lessee.

 

Insurance

17. No insurance coverage for the Equipment is required under this Agreement.

18. Notwithstanding any other provision of this Agreement, the Lessee will not be required to pay any tax, fee or charge if the Lessee is contesting the validity of same in the manner prescribed by the legislation governing the imposition of same, or in the absence of a prescribed form, in a reasonable manner. However, the Lessee will indemnify and reimburse the Lessor for damages and expenses incurred by the Lessor arising from or related to the Lessee's failure to pay any tax, fee or charge, regardless of whether the Lessee is contesting the validity of the same or not.

19. If the Lessee fails to pay any and all taxes, fees, and charges mentioned in this Agreement and the Lessor, on behalf of the Lessee, pays the same, the Lessee will reimburse the Lessor for the cost upon notification from the Lessor of the amount.

 

Indemnity

20. The Lessee will indemnify and hold harmless the Lessor against any and all claims, actions, suits, proceedings, costs, expenses, damages and liabilities, including attorney's fees and costs, arising out of or related to the Lessee's use of the Equipment.

Default

21. The occurrence of any one or more of the following events will constitute an event of default ("Event of Default") under this Agreement:

 a. 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.

b. 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 another competent jurisdiction.

 c. A writ of attachment or execution is levied on the Equipment and is not released or satisfied within 10 days.

 

Remedies

22. On the occurrence of an Event of Default, the Lessor will be entitled to pursue any one or more of the following remedies (the "Remedies"):

a. Declare the entire amount of the Rent for the Term immediately due and payable without notice or demand to the Lessee.

b. Apply the Deposit toward any amount owing to the Lessor.

c. Commence legal proceedings to recover the Rent and other obligations accrued before and after the Event of Default.

d. 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.

e. Terminate this Agreement immediately upon written notice to the Lessee.

f. Pursue any other remedy available in law or equity.

Assignment

23. THE LESSEE WILL NOT ASSIGN THIS AGREEMENT, THE LESSEE'S INTEREST IN THIS AGREEMENT OR THE LESSEE'S INTEREST IN THE EQUIPMENT WITHOUT THE PRIOR WRITTEN CONSENT OF THE LESSOR.

24. If the Lessee assigns this Agreement, the Lessee's interest in this Agreement or the Lessee's interest in the Equipment without the prior written consent of the Lessor, the Lessor will have recourse to the Remedies and will be entitled to all damages caused by the transfer to the extent that the damages could not reasonably be prevented by the Lessor.

25. THE LESSOR WILL NOT ASSIGN THIS AGREEMENT, THE LESSOR'S INTEREST IN THIS AGREEMENT OR THE LESSOR'S INTEREST IN THE EQUIPMENT WITHOUT THE PRIOR WRITTEN CONSENT OF THE LESSEE.

THE LESSOR WILL NOT ASSIGN OR TRANSFER THE LESSOR'S RIGHT TO COLLECT RENT OR ANY OTHER FINANCIAL OBLIGATION OF THE LESSEE.

26. If the Lessor assigns this Agreement, the Lessor's interest in this Agreement or the Lessor's interest in the Equipment without the prior written consent of the Lessee, the Lessee will be entitled to terminate this Agreement without penalty.

 

Additional Documents

27. Upon written demand by the Lessor, the Lessee will execute and deliver to the Lessor documents required by the Lessor to protect the Lessor's interest in the Equipment including, but not limited to, the documents necessary to file a UCC financing statement.

 

Entire Agreement

28. This Agreement will constitute the entire agreement between the Parties. Any prior understanding or representation of any kind preceding the date of this Agreement will not be binding on either Party except to the extent incorporated in this Agreement.

 

Address for Notice

29. Service of all notices under this Agreement will be delivered personally or sent by registered mail or courier to the following addresses:

Lessor: Bama Beach Buggies

Lessee:

 

Interpretation

30. Headings are inserted for the convenience of the Parties only and are not to be considered when interpreting this Agreement. Words in the singular mean and include the plural and vice versa. Words in the masculine mean and include the feminine and vice versa.

Governing Law

31. 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 Alabama (the "State"), without regard to the jurisdiction in which any action or special proceeding may be instituted.

 

Severability

32. If there is a conflict between any provision of this Agreement and the applicable legislation of the State of Alabama (the "Act"), the Act will prevail, and such provisions of the Agreement will be amended or deleted as necessary in order to comply with the Act. Further, any provisions that are required by the Act are incorporated into this Agreement.

33. In the event that any of the provisions of this Agreement are held to be invalid or unenforceable in whole or in part, those provisions to the extent enforceable and all other provisions will nevertheless continue to be valid and enforceable as though the invalid or unenforceable parts had not been included in this Agreement and the remaining provisions had been executed by both Parties subsequent to the expungement of the invalid provision.

 

General Terms

34. This Agreement may be executed in counterparts. Facsimile signatures are binding and are considered to be original signatures.

35. Time is of the essence in this Agreement.

36. 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. 39. 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.

Notice to Lessee

37. NOTICE TO THE LESSEE: This is a lease. You are not buying the Equipment. Do not sign this Agreement before you read it. You are entitled to a completed copy of this Agreement when you sign it.

IN WITNESS WHEREOF Jeff and Brooke Hotchkiss has duly affixed its signature under hand and seal and

Bama Beach Buggies, LLC has affixed its signature by a duly authorized officer under seal on this

(first date of rental)

 

Bama Beach Buggies, LLC Per: Jeff and Brooke Hotchkiss and (Lessee)

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