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Rental
Agreement
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RENTAL AGREEMENT
1.
In consideration of one dollar ($1.00) and other rent as agreed
between the parties Jauchem & Meeh, Inc. (hereinafter referred
to as "J&M") agrees to rent to the person or entity
designated on the reverse side hereof (hereinafter referred to as
the "Renter") the equipment listed on the reverse side
hereof (hereinafter referred to as the "Equipment") subject
to the terms and conditions set forth herein. Accrued rental prices
do not apply against purchase price.
2.
During the term of the rental and at all times when the Equipment
is in the custody of the Renter, the Renter shall maintain the Equipment
in good condition and repair. At the end of the term hereof, or
at its earlier termination, the Renter shall, at its cost and expense,
deliver and return the Equipment to J&M in good condition and
repair, reasonable wear and tear excepted.
3.
The Renter hereby assumes full responsibility for the Equipment
rented and agrees to compensate J&M to the extent of the full
replacement value should any item of said Equipment not be returned
or be returned in a damaged or broken condition, due to any cause
whatsoever. Renter further agrees to compensate J&M in rent
for any time lost as a result of replacement or if J&M has to
make repairs to broken or damaged Equipment.
4.
The Renter shall, at his own cost and expense, but for the benefit
of J&M, immediately insure the said Equipment for the full value
against all risk of physical loss including the perils of transportation,
with a qualified, reputable insurance company and shall deliver
the said Certificate of Insurance to J&M, together with the
receipt for premiums thereunder. If J&M, by reason of such insurance,
shall receive any sum or sums of money, such amounts may be retained
and applied by it towards the repair or replacement of the said
Equipment, or it may remove the damaged Equipment and, in lieu thereof,
substitute other Equipment of like kind and quality and any such
Equipment whether repaired or substituted, shall be subject to all
the terms, provisions and conditions herein. The Certificate of
Insurance shall name J&M as Loss Payee and shall show a limit
of insurance equal to the value of the equipment rented to renter.
Furthermore, the Certificate of Insurance shall name J&M as
Additional Insured on Renter's Commercial General Liability policy
with minimum limits of $1,000,000 Combined Single Limits and such
policy shall comply with the requirements set forth in paragraphs
6 and 20 shown below.
5.
The Renter shall not remove any Equipment from the address hereinabove
set forth without first having notified J&M and obtained from
it a written consent for such removal. Rental of all Equipment must
be paid for the period of time it is in Renter's custody and until
its return to J&M. No allowance will be made for unused Equipment.
6.
Renter assumes all risk in the use and operation of the rented Equipment
and shall be responsible for providing proper safety devices and
equipment to safeguard users or operators of the Equipment herein
rented and for installation of the Equipment in safe and adequate
facilities, in order to comply with all Federal, State and Local
laws or regulations, and all industry standards.
7.
It shall be lawful for the owner or its agents at all reasonable
times to enter the premises where the Equipment is kept for the
purpose of viewing the condition of said Equipment.
8.
If the Renter shall default on any of the terms, covenants and conditions
herein, or in punctually making any rental or other payment, or
if any execution or other writ or process shall be issued in any
action or proceeding against the Renter, whereby the said Equipment
may be seized or taken or distrained, or if a proceeding in bankruptcy,
receivership or insolvency shall be instituted by or against the
Renter or his property, or if the Renter shall enter into any arrangement
or composition with his creditors, or in the event that any judgment
is obtained against the Renter, then and in any such event, J&M
shall have the right to terminate this agreement and to retake immediate
possession of said Equipment and, for such purpose, J&M, its
agents or emplowhere said Equipment may be, and mashall at all times
remain under the immediate control, supervision and direction of
the Renter personally.
9.
Upon J&M retaking possession of the said Equipment, pursuant
to the provisions of the preceding article hereof, this agreement
shall thenceforth terminate without prejudice to any right or claim
for arrears of rent, if any, or on account of any preceding breach
or breaches of this agreement, or the loss of rental for the balance
of the unexpired term herein, or for any other claim that J&M
may have against the Renter.
10.
10. The renter shall not under lease, loan or otherwise permit the
Equipment to be used by any other person, firm or corporation, and
said Equipment shall at all times remain under the immediate control,
supervision and direction of the Renter personally.
11.
The Equipment is and shall remain at all times the sole and exclusive
property of J&M. The Renter agrees not to remove or cover the
tag or nameplate on the Equipment showing ownership by J&M.
12.
The Renter hereby grants to J&M the right to terminate this
agreement on 24 hours written notice by registered mail or personal
service. On the occurrence of said event, the Renter shall immediately
return to J&M at the Renter's risk and expense, the Equipment,
in the same condition as when first rented, and J&M shall, thereupon,
upon said receipt, refund only the unexpired portion of the rental.
13.
The Renter agrees to pay all reasonable attorney's fees and costs
incurred by J&M in protecting its rights or property under this
agreement, or in any action or proceeding against the Renter for
a breach of this agreement.
14.
The acceptance of the return of the rented Equipment is not a waiver
by J&M of any claims that it may have against the Renter, nor
a waiver of claims for latent or patent damages to the Equipment.
15.
The acceptance of any rent or other payment, or any portion thereof,
after a default by the Renter shall not be deemed to operate as
a waiver of J&M's right to enforce the payment of rent or other
payments herein provided for, or to terminate this agreement and
recover possession of its Equipment. The failure to insist upon
strict compliance with the terms and conditions of this agreement,
even after a breach of any provision or after default, shall not
be construed as a waiver of any of J&M's rights under this agreement.
16.
No terms, representation or warranty, express or implied, not herein
set forth in writing shall bind J&M.
17.
The Renter agrees not to pledge, mortgage or in any way encumber
the property rented herein.
18.
In all programs of production in connection with which the property
and materials above set forth shall be used, credit shall be given
in the form of "Special Effects equipment by Jauchem &
Meeh Inc".
19.
It is understood and agreed that the rental price does not include
New York City and New York State sales tax which is to be added
to invoices as they become due.
20.
The Renter expressly agrees to indemnify and hold J&M harmless
from any and all claims arising out of any violation of any law,
rule, regulation or order, and from any and all claims or liabilities
for loss, damage or injury to persons or property of whatever kind
or nature arising from the use or operation of the Equipment herein
rented, or from the negligence or carelessness of the agents or
employees of Renter. Renter shall notify J&M promptly of any
accident involving the Equipment herein rented. Renter shall obtain
contractual liability insurance in connection with this agreement
and pursuant to this paragraph, in an amount satisfactory to J&M,
and shall furnish a copy of the policy with the premium marked ''paid''
to J&M.
21.
Before taking possession of equipment, renter agrees to provide
J&M with a Certificate of Insurance showing evidence of the
following coverage: -"All risk" or "Special"
coverage form including theft and perils of transportation, naming
J&M as Loss Payee. The Certificate must show an amount of coverage
equal to the value of the equipment rented (not rental value); -Commercial
General Liability coverage with a limit of at least $1,000,000 Combined
Single Limit for Bodily Injury and Property Damage. (J&M must
be named as Additional Insured.)
22.
The rental price for the Equipment has been separately stated to
the Renter, and J&M shall render periodic statements to the
Renter setting forth the rental price. In the event that additional
Equipment is rented to Renter or some Equipment is returned to J&M
by Renter, the periodic statements from J&M setting forth the
rental price will be adjusted accordingly.
23.
If a rental term is set forth on the reverse side hereof, the Renter
may extend the term with the written consent of J&M. The rental
price during any extended term shall be as is set forth on periodic
rental statements from J&M.
24.
The renter has the privilege to examine and test equipment at the
time of rental. J&M does not guarantee, assume responsibility,
or make any representation for the performance of said equipment.
Renter acknowledges that they have received the equipment in good
working condition.
25.
This agreement contains the entire understanding between the parties,
including representation, and may not be modified except by another
agreement in writing, signed by both parties to this agreement.
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© 2002 Jauchem &
Meeh, Inc.
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