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This BBFRY rental lease agreement (“Agreement”) is entered into today by and between BBFRY GLOBAL, LLC. Located at P.O. BOX 64935, Los Angeles, CA 90064, Phone: (702) 350-1778, info@bbgryglobal.com (“Lessor”), and the contractor(“Lessee”).
- Device Rental:
Lessor hereby rents to Lessee unit(s) of BBFRY featuring model # BBF-L30A (“Device”).
- Effective Date:
The rental shall commence today and shall terminate only by the proper procedures set forth in Section 6 below. Lessee shall return the Device by the date mutually agreed upon, in the same condition as received, normal wear and tear excepted.
- Term:
The initial term shall be twelve (12) months, after which automatic monthly renewal becomes in effect. For an early termination by Lessee before the thirteenth month begins, Lessee shall pay Lessor $100.00 per along with the return of the rented device.
- Payment:
- 4.1.Lessee shall pay Lessor a one-time initial administrative fee of the total, calculated at
$100.00 per unit multiplied by unit(s), plus applicable sales tax. This fee is payable upon the execution of this Agreement.
- 4.2.Lessee shall also pay a monthly rental fee of the total calculated at $100 per unit, multiplied by units, plus applicable sales tax due and payable on the first day of each month. If the rental period does not commence on the first day of a month, the rental fee shall be prorated accordingly.
- 4.3.If Lessee fails to make payments by the due date, Lessee shall pay Lessor a late charge equal to ten percent (10%) per annum, accrued for the number of days the payment is overdue.
4.3 Lessee agrees to make payments to Lessor via automatic credit card withdrawal (see Exhibit A for details).
- Use, Maintenance, Repairs, Damage orLoss Of Device:
- 5.1.Lessee shall use the Device solely for lawful purposes and in accordance with Lessor’s instructions and safety guidelines. Lessee shall not modify, alter, or repair the Device without prior approval from Lessor. Lessee shall keep the Device clean and in
good operating condition. If the Device becomes damaged or malfunctions, Lessee must notify Lessor immediately.
- 5.2.Lessee shall be responsible for any damages resulting from misuse or neglect. If the Device becomes physically damaged to the extent it won’t function, Lessee may be charged for repair or replacement.
- 5.3.If the Device is lost during the term of this Agreement, Lessee shall pay Lessor the specified replacement cost, provided that this Agreement remains in effect.
- If the loss is reported during the first 12 months of this Agreement, Lessee shall pay a lump sum replacement fee of $2,000 or, a monthly installment of $100 for 20 months. To prevent any confusion, Lessee shall continue to pay Lessor
$100 per unit for each replaced device.
- If the loss is reported during the 13th and 24th month of this Agreement, Lessee shall pay a lump sum replacement fee of $1,000 or, alternatively, a monthly installment of $100 for 10 months. To prevent any confusion, Lessee shall continue to pay Lessor $100 per unit for each replaced device.
- 5.3.3.If the loss is reported after the 25th month of this Agreement, Lessee shall pay a lump sum replacement fee of $600, or a monthly installment fee of $100 for 6 months. To prevent any confusion, Lessee shall continue to pay Lessor $100 per unit for each replaced device.
- 5.4.If the Device is lost during the term of this Agreement and Lessee chooses to discontinue this Agreement, Lessee shall pay Lessor a fixed replacement cost of
$2,000, regardless of the time of loss.
- 5.5.If the Device is damaged or lost due to reasons beyond Lessee’s control, as determined at Lessor’s discretion, Lessor shall promptly replace it at no additional cost.
- 5.6.Lending the Device to a third party is strictly prohibited, which may constitute a material breach of the Agreement.
- TerminationWithoutCauseandDuetoBreach:
- 6.1.At the end of the rental period or anytime during the term of this Agreement, Lessee may terminate or cancel this Agreement by returning the Device to Lessor at the address specified above or elsewhere as agreed, in good condition, ordinary wear and tear accepted. The termination or cancellation of this Agreement shall become effective upon Lessor’s confirmation of the Device’s return.
- 6.2.Either party may terminate this agreement immediately if the other party breaches any material term or condition of this agreement and fails to cure such breach within a specified period after written notice.
6.3.Lessor may terminate this agreement if the lessee fails to make any payment when due, following a written notice and opportunity to cure.
- 6.4.Lessor reserves the right to terminate this agreement if the lessee damages, misuses, or improperly maintains the rented Device.
- 6.5.Upon termination of this Agreement, Lessee shall immediately return the Device in the same condition as when received, reasonable wear and tear excepted. Lessor may conduct a final inspection and assess any damages or damages costs.
- 6.6.Termination of this Agreement shall not release either party from liabilities or obligations incurred prior to termination. Lessee shall remain liable for all unpaid amounts and for any damages resulting from improper use or failure to return the Device.
- HandlingofLesse’sInformation:
Lessor may utilize Lessee’s information for marketing and product development purposes, provided that no personally identifiable information is disclosed or shared with third parties without Lessee’s prior consent.
- Indemnification and Liability:
Lessee assumes all risk associated with the use of the Device and agrees to indemnify and hold harmless Lessor against any claims, damages, or liabilities arising from the
Lessee’s use of the Device.
- Dispute Resolution:
- 9.1.Any disputes arising out of or in connection with this Agreement shall be resolved through good-faith negotiations between the parties. If the dispute cannot be amicably resolved within 30 days, it shall be submitted to binding arbitration in accordance with the rules of American Arbitration Association in Los Angeles, CA and the decision of the arbitrator(s) shall be final and binding upon both parties.
- 9.2.Lessor and Lessee agree that any costs and expenses incurred in connection with the dispute resolution outlined in Section 10.1 shall be borne by each party individually.
- Governing Law:
This Agreement shall be governed by and construed in accordance with the laws of the State of California.
- Entire Agreement:
This Agreement represents the entire understanding between the parties and supersedes any prior agreements or representations.
By clicking the check box below, I acknowledge and accept the terms and conditions of this Agreement as outlined above.
