REPAIRS.
Lessor shall keep the Equipment in good repair, condition and working order and shall furnish any and all parts, mechanisms and devices required to keep the Equipment in good mechanical working order. Lessee shall not in any way repair or materially alter the physical or otherwise makeup of the Equipment.
LOST, DAMAGED, OR UNRETURNED EQUIPMENT.
Lessee hereby assumes and shall bear the entire risk of loss and damage to the Equipment from any and every cause. Lessee shall not in any manner tamper with, disassemble or reverse engineer Equipment, and Lessee shall be fully responsible for all expenses and costs resulting from such actions required to return the Equipment to its original condition. No loss or damage to the Equipment or any part thereof shall impair any obligation of Lessee under this Lease which shall continue in full force and effect through the term of the Lease.
In the event of damage of any kind to the Equipment, Lessee agrees to allow Lessor to charge Lessee’s credit card for the full cost of repair of said damaged Equipment. Lessor expressly reserves the right to choose the repair method and venue, within reasonable market value terms. Lessee and Lessor agree to be bound, legally and otherwise, by the report of Lessor’s chosen repair venue as to the cause of the damage to the Equipment.
In the unlikely event that the Equipment appears damaged when Lessee receives Equipment via shipment contractor, Lessee must notify Lessor immediately within twenty-four hours of receiving the shipment.
In the event of default, or a lost or unreturned item, Lessor reserves the right to pursue civil and criminal remedies against Lessee, including, but not limited to, taking immediate possession of the Equipment; obtaining, by Lessee’s credit card or otherwise, from Lessee the cost of the full retail price of a comparable substitute of Equipment and late fees assessed prior to deeming the Lessee in default or the Equipment lost or unreturned; notifying a collections agency, which immediately results in additional attorneys’ and collection fees being charged to Lessor; filing of criminal charges; employing “skip tracer,” private investigator, or repossession agency to collect the Equipment or goods sufficient to repay the value of the Equipment; and/or pursue any and all legal remedies against Lessee. These remedies are not exclusive. In the event of litigation to recover any such damages, Lessee is held responsible for all legal fees and costs incurred by Lessor.
Lessor is deemed to be in “default” if for any reason payment to Lessee is not delivered, is disputed, or is otherwise interrupted.
Equipment is deemed to be “lost” or “unreturned” when Lessee has failed to ship leased Equipment to Lessor within seven (7) days of expiration of the lease term. If Lessee returns Equipment, in undamaged state, to Lessor within thirty (30) days of expiration of the lease term, the charge to Lessee’s credit card for the price of a comparable substitute will be refunded to Lessee by Lessor and a late fee will be charged to Lessee’s credit card. Late returns are subject to a fee of twice the prorated per day lease charge at time of the lease per day. Returning an item late without notifying us first may cause Loss of Use fees to be applied in addition to the late fees. The amount of the Loss of Use fees will be calculated on a case-by-case basis.
