The Sout Umpqua Rental Rental Agreement
Please take a moment to read our rental agreement
GENERAL TERMS AND CONDITIONS
- PARTIES: As used in this Agreement, “TNG” is TNG HOLDINGS LLC. “Customer” is the buyer/lessee of the equipment identified on the reverse side subject to the Sales/Rental Agreement. “Equipment” or “Collateral” is the personal property identified on the reverse side subject to the sale/rental.
- INTEGRATION: This writing comprises the complete and exclusive statement of the terms between the parties and it is acknowledged that there are no understandings, representations, warranties, promises, verbal or otherwise, pertaining to this Agreement or to the Equipment, which are not incorporated herein expressly, by reference or by rider attached hereto.
- SEVERABILIIY: If any provisions of this Agreement or the application thereof will be held to be invalid or unenforceable to any extent the remainder of this Agreement will not be affected thereby.
- MODIFICATION: This Agreement may not be modified or amended except in writing, signed by both TNG and Customer.
- DISCLAIMER OF WARRANTIES: ANY WARRANTIES ON THE EQUIPMENT ARE THOSE MADE BY THE MANUFACTURER, TNG EXPRESSLY DISCLAIMS ALL WARRANTIES, EITHER EXPRESS OR IMPLIED, INCLUDING ANY IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR PARTICULAR PURPOSE, OR THAT IT IS FREE OF DEFECTS, AND IN NO EVENT WHATSOEVER WILL TNG BE LIABLE FOR ANY DIRECT OR CONSEQUENTIAL DAMAGES.
- SAFETY REGULATIONS: Customer will: (a) erect, maintain, store, and use the Equipment in a safe and proper manner; (b) comply with all applicable laws, ordinances, rules and regulations or any public authority having jurisdiction for the safety of persons or property, including, but not limited to, ALL FEDERAL OCCUPATIONAL SAFETY AND HEALTH ACT AND APPLICABLE STATE REGULATIONS; and (c) comply with any rules or regulations promulgated by TNG with respect to the Equipment, its manner of erection, maintenance, storage and use.
- NOTICE Of NON-WAIVER: The failure of TNG at any one or more times to insist upon strict performance by Customer of the conditions and terms of this Agreement, or TNG’s acceptance of partial or delinquent payments, or failure of TNG to exercise any right or remedy will not be construed as a waiver of TNG’s right to demand strict compliance. Time is expressly made the essence of this Agreement.
- ATTORNEY’S FEES; VENUE: If enforcement of any provision of this Agreement or collection of any amount due is placed in the hands of an attorney, or suit brought on this Agreement, venue will be exclusively in Douglas County, Oregon, and Customer agrees to pay reasonable attorney’s fees and costs of litigation.
- ASSIGNMENT: This Agreement will not be assigned by Customer.
- LATE PAYMENT CHARGE: CUSTOMER AGREES TO PAY A LATE PAYMENT CHARGE WHICH WILL BE MADE ON ANY PAST DUE BALANCE REMAINING UNPAID AFTER THIRTY (30) DAYS. SUCH CHARGES WILL BEAR INTEREST AT THE HIGHEST CONTRACT RATE OF INTEREST TNG MAY CHARGE CUSTOMER UNDER APPLICABLE LAW.
- DELIVERY: All sales and rentals of Equipment hereunder are FOB the location from which such Equipment is sold or rented. Any aid provided by TNG in the loading or unloading of Equipment does not relieve Customer of any duty to indemnify or defend TNG or hold TNG harmless under this Agreement.
LEASE TERMS AND CONDITIONS
- TITLE: The Equipment identified on the reverse side will at all times be and remain the sole property of TNG. Customer will have only the right to use the Equipment under the terms and conditions contained herein.
- TIME PERIOD: Customer is responsible for rental time charges immediately upon delivery of Equipment to Customer. The lease period will run from the time of delivery to the time designated for return, unless such time period is extended in writing, and signed by both parties. The lease period will not exceed a one (1) month time period on any one Agreement. For purposes of this Agreement, one (1) month will equal twenty-eight (28) days.
- PAYMENT: Customer agrees to pay the charges for this rental in advance or immediately upon receiving billing for same. TNG may charge Customer for all additional time periods not shown on the face hereof during which time Customer has possession of the Equipment. The failure of a credit card company to pay charges under this Agreement will not relieve Customer from any liability.
- WAIVER OF DEFECTS: Customer acknowledges that prior to taking the Equipment he has examined it, seen it in operation, that it was in good condition, and that he represented to TNG that he was familiar with the proper and safe manner of using said Equipment. Customer agrees that he will inspect the leased Equipment at the designated location prior to any use and will maintain a continuing inspection of the leased Equipment at all times throughout the lease term.
- LIMITATIONS OF USAGE: Customer agrees that the Equipment will be used solely by him, only at the address designated and solely for the purpose for which it was manufactured and intended. The Equipment will not be transferred, leased to, or used by any person other than Customer. Customer will at all times and at his own expense keep the leased Equipment In good, safe and efficient working order, repair and condition and will not permit anyone to injure, deface or misuse the Equipment. Customer agrees that TNG will have no responsibility, direction or control over the manner of loading, unloading, erection, maintenance, use or operation of the Equipment.
- RISK OF LOSS: If the Equipment is lost, stolen, or damaged beyond repair as determined solely by TNG, while in the possession of Customer, Customer will be liable to TNG for the value of the Equipment in an amount equal to TNG’s list price for similar Equipment. In addition, Customer will be liable to TNG for ordinary rental fees from the date or delivery of the Equipment until payment.
- NOTICE: In the event of loss, theft or damage to Equipment, Customer agrees to notify TNG immediately by telephone, and thereafter to promptly report in writing all information related thereto to TNG and the public authorities (where required by law or TNG). Customer will cause its agents and employees to give TNG and the public authorities full and complete information and assistance in the investigation and prosecution of any matter arising from said loss, theft or damage.
- REPAIR AND CLEANING: If Customer returns the Equipment in a damaged or unclean condition, as determined solely by TNG, normal wear and tear excepted, Customer agrees to pay reasonable charges for cleaning and repair. TNG may repair at Customer’s expense using its own’ laborers and bill for their usual charges in making such repairs for third parties. Customer may at his own expense elect to have the Equipment repaired elsewhere, provided that any repair to be made, any person making said repairs, and any parts to be utilized or replaced in making said repairs will be preapproved by TNG.
9, ACCESS: TNG will at all times have the right of free access to the Equipment for the purpose of inspecting it and watching its use, maintenance or storage or determining the nature and extent of its
use. TNG may terminate this Agreement and demand immediate return of the Equipment if it observes the Equipment being used improperly or in violation of any term of this Agreement
- INDEMNIFICATION: CUSTOMER AGREES TO INDEMNIFY AND DEFEND TNG AGAINST AND HOLD TNG HARMLESS FROM ANY AND ALL CLAIMS, ACTIONS, SUITES, PROCEEDINGS, COSTS, EXPENSES, DAMAGES AND LIABILITIES, DIRECT OR CONSEQUENTIAL, INCLUDING ATTORNEY’S FEES AND COSTS OF LITIGATION, WHICH ARISE FROM OR RELATE TO ANY INJURY TO PERSON OR PROPERTY OCCASIONED BY THE OPERATION, HANDLING OR TRANSPORTATION OF THE EQUIPMENT DURING THE LEASE TERM OR WHILE THE EQUIPMENT IS IN THE POSSESSION OR CONTROL OF CUSTOMER.
- DEFAULT: TNG will have the right without notice to terminate this Agreement and take possession of the Equipment upon occurrence of any of the following events of default: (a) breach of any of the terms, conditions or promises contained in this Agreement; (b) Customer becomes insolvent or otherwise unable to pay its debts to TNG or others when due; (c) institution of any proceedings in bankruptcy or receivership by or against Customer; (d) any warranty, representation or statement made or furnished to TNG by or on behalf of Customer proves to have been false in any material respect when made or furnished; or (e) if any execution, levy, restraint or attachment is levied or threatened to be levied upon the leased Equipment. Customer expressly grants to TNG the right to enter upon any location where said Equipment may be located for the purpose of taking possession of the Equipment. Customer expressly releases TNG and its agents from any claims for damage or trespass arising out of the retaking possession of said Equipment.
- DAMAGE WAIVER: If Customer pays the damage waiver charge as specified on the front page of this agreement, subject to the limitations and exclusions below, TNG agrees to modify the terms of this contract and limit Customer’s liability for accidental damage to the Equipment rented under this contract to a maximum of $40.00. Damage to tires and tubes caused by blowout, bruises, cuts, punctures or other causes inherent in the use of the Equipment, damage to percussion accessories or hoses, loss or damage due to theft, burglary, misuse or abuse, theft by conversion, intentional damage, negligence, neglect, disappearance or other loss due to Customer’s failure to take reasonable care of the Equipment are excluded from this waiver. Damage waiver does not cover damage that occurs during transit
SALE TERMS AND CONDITIONS
- SECURITY INTEREST: Title and the right to immediate possession of any Equipment described on the reverse hereof will remain in TNG until all items have been paid for in full. CUSTOMER HEREBY GRANTS TO TNG A SECURITY INTEREST IN SAID EQUIPMENT and all proceeds, increases, substitutions, parts, replacements, additions and accessions to said Collateral. Customer agrees to execute all necessary Financing Statements and security instruments in forms satisfactory to TNG and to pay the costs of filing same. If the Collateral has materially decreased in value, as determined solely by TNG or if TNG will at any time deem itself insecure, Customer will either reduce the total indebtedness in an amount satisfactory to TNG or provide additional collateral sufficient to fully secure TNG.
- FUTURE INDEBTEDNESS: The security interest granted herein will secure the indebtedness described on the reverse hereof and all other obligations of Customer to TNG, direct or indirect, absolute or contingent, due or to become due, whether existing or hereafter arising.
- DISPOSITION OF COLLATERAL: Customer will not sell, contract to sell, lease, encumber or dispose of Collateral or any interest therein until all debts secured by this security agreement have been fully satisfied. Customer agrees to keep Collateral separated and identifiable and at the address shown on the reverse hereof.
- PROTECTION OF COLLATERAL: Customer will promptly pay when due all taxes and assessments upon the Collateral. Customer will keep the Collateral in good order and repair, and will not misuse, waste or destroy the same. Customer will insure Collateral in a manner acceptable to TNG against such casualties and in such amounts as TNG will require, with a standard mortgage clause in favor of TNG as secured party. Customer will provide evidence of insurance to TNG. TNG is authorized to collect any sums which may become due under said policies and apply same to the obligations hereby secured.
- ATTORNEY-IN-FACT: Customer hereby appoints TNG as Customer’s Attorney-in-fact to do any and every act which Customer is obligated by this security agreement to do, to exercise all rights of Customer in Collateral, to execute all papers and instruments to protect TNG’s security interest in said collateral, and to do all things necessary to preserve and protect said Collateral. At TNG’s option, TNG may discharge any taxes and fines or perform or cause to be performed for and on behalf of Customer any actions, conditions, obligations or covenants which Customer has failed or refused to perform. TNG may pay for repair, maintenance and preservation of Collateral and all sums so expended and any other costs or expenses will be secured by this security agreement and reimbursed by Customer.
- PAYMENT: Customer agrees to pay the price for this Equipment and any other charges or expenses in advance or immediately upon receiving billing for same.
- DEFAULT: Customer will be in default under this security agreement upon the occurrence of any of the following events or conditions: (a) default in the payment or performance of any obligation, covenant, or liability contained or referred to herein; (b) loss, theft, substantial damage or destruction of Collateral; (c) sale or encumbrance of collateral; (d) levy, seizure, or attachment of Collateral; (e) acceleration of maturity of any indebtedness of Customer to others under any indenture, agreement or undertaking; (f) any warranty, representation or statement made or furnished to TNG by or on behalf of Customer proves to have been false in any material respect when made or furnished; (g) TNG believes that the prospect of payment of any indebtedness secured hereby or the performance of this Agreement is impaired; (h) death, dissolution, termination of business or existence, insolvency, appointment of a receiver, or assignment for the benefit of creditors by or against Customer, or the inability of Customer to pay its debts to TNG or others when due; or (i) commencement of any bankruptcy proceeding by or against Customer or any guarantor or surety for Customer.
- REMEDIES: Upon the occurrence of any event of default, and at any time thereafter, TNG may declare all obligations secured hereby immediately due and payable and proceed to enforce payment of same. TNG may exercise any and all rights and remedies provided by the Oregon law as well as all rights and remedies granted herein to TNG as secured party. TNG may require Customer to assemble the Collateral and make it available to TNG at any place and time designated by TNG. TNG is hereby authorized to enter upon the premises where said Collateral may be and remove and sell the same and all equity of Customer therein, either at public or private sale, without demand for performance. Unless the Collateral is perishable, threatens to decline speedily in value or is of a type customarily sold on a recognized market, TNG will give Customer reasonable notice of the time and place of any public sale or the time after which a private sale or any other intended disposition thereof is to be made. The requirements of reasonable notice will be met if such notice is mailed, postage pre-paid, to the last known address of Customer at least five (5) days before the date of title sale or disposition. TNG will apply proceeds first to the costs incurred, then to the balance due and any remaining sum to Customer. Costs incurred will include expenses of retaking, holding, preparing for sale, selling, reasonable attorney’s fees and legal expenses.