PERSONAL ITEM RENTAL AGREEMENT
THIS PERSONAL ITEM RENTAL AGREEMENT dated this ___________________
BETWEEN SHAO___________, (the "Lessor") of the first part at address: ___________________
           -and- Requester___________, (the "Lessee") of the second part at: _____________________________
           -and- _________________________, (the "Lessee") of the second part at: ___________________________________
(the Lessor and Lessee are collectively the "Parties")
IN CONSIDERATION of the mutual covenants and promises in this Agreement, the sufficiency of which the Parties acknowledge, the Lessor leases the personal Item to the Lessee, and the Lessee leases the personal Item from the Lessor on the following terms
1.Definitions: The following definitions are used but not otherwise defined in this Agreement:
  • "personal Item" or "Item" means Power Drum Auger 25` for sink pipe treatment_ _ , _________________
  • "Casualty Value" means the market value of the personal Item at the end of the Term or when in relation to a Total Loss, the market value the Item 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 Item.
  • "Total Loss" means any loss or damage that is not repairable or that would cost more to repair than the market value of the Item
  • 2.Lease: The Lessor agrees to lease the personal Item to the Lessee, and the Lessee agrees to lease the personal Item from the Lessor in accordance with the terms set out in this Agreement.
    3.Term: The Lease commences on the signed date and will be for a term of 5_______ days (the "Term"). Early termination of the Lease will be a breach of the Lease and will entitle the Lessor to pursue the Remedies
    4.Rent: The Rent for the Item will be $ 5.00______ per Term and the Rent will be paid prior to the Lessee taking possession of the Item
    5.Deposit: The Lessee will pay a deposit of $ _____ (the "Deposit") before taking possession of the Item. The Lessor will refund the Deposit to the Lessee at the end of the Term provided that the Lessee has performed all of the Lessee's obligations under this Agreement
    6.Cash Value of the Item is the amount of the Deposit.
    7. Total Cost of Lease is One Term Tent unless multiple Terms Rent (Rent x Number of Term): ____________
    8. Delivery and Return of the Item: The Lessee will, at the Lessee's own expense and risk, pick up and transport the Item from Lessor's address
    Use of the Item:
    9. The Lessee will use the the Item in a good and careful manner and will comply with all of the manufacturer's requirements and recommendations respecting the personal Item and with any applicable law, whether municipal, provincial/territorial or federal respecting the use of the personal Item, including, but not limited to, environmental and copyright law
    10. The Lessee will use the the Item for the purpose for which it was designed and not for any other purpose, and personal use only as lessee's responsibility
    11. Unless the Lessee obtains the prior written consent of the Lessor, the Lessee will not alter, modify or attach anything to the Item unless the alteration, modification or attachment is easily removable without damaging the functional capabilities or economic value of the Item
    Repair of the Item
    12. The Lessee will, at the Lessee's own expense, keep the the Item in good repair, appearance and condition, normal and reasonable wear and tear excepted. The Lessee will supply all parts that are necessary to keep the the Item in such a state
    13. If the the Item is not in good repair, appearance and condition when it is returned to the Lessor, the Lessor may make such repairs or may cause such repairs to be made as are necessary to put the the Item in a state of good repair, appearance and condition, normal and reasonable wear and tear excepted. The Lessor will make the said repairs within a reasonable time of taking possession of the personal Item and will give the Lessee written notice of and invoices for the said repairs. Then the Lessee will reimburse the Lessor for the actual expense of said repairs
    14. The Lessee may, but is not obligated to, enforce any warranty that the Lessor has against the supplier or manufacturer of the the Item. The Lessee will enforce such warranty or indemnity in its own name and at its own expense
    15. Warranties: The Item will be in working order and good condition upon delivery.
    Loss and Damage
    16. The Lessee will be responsible for risk of loss, theft, damage or destruction to the personal Item from any and every cause
    17. If the Item 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 Item is repairable, put or cause the Item to be put in a state of good repair, appearance and condition
    18. In the event of Total Loss of the Item, 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 Item, at which point ownership of the Item passes to the Lessee
    Ownership, Right to Lease and Quiet Enjoyment
    19. The personal Item is the property of the Lessor and will remain the property of the Lessor
    20. The Lessee will not encumber the Item or allow the Item to be encumbered or pledge the Item as security in any manner
    21. The Lessor warrants that the Lessor has the right to lease the Item according to the terms in this Agreement
    22. 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 Item or the Lessee's unrestricted use of the Item for the purpose for which the Item was designed
    23. Surrender: At the end of the Term or upon earlier termination of this Agreement, the Lessee will return the personal Item at the Lessee's cost, expense and risk to the Lessor by delivering the Item to Lessor's address. If the Lessee fails to return the Item to the Lessor at the end of the Term or any earlier termination of this Agreement, the Lessee will pay to the Lessor any unpaid Rent for the Term plus the Casualty Value of the Item plus 10% of the Casualty Value, at which point ownership of the Item will pass to the Lessee
    Insurance
    24. The Lessee will, during the whole of the Term and for as long as the Lessee has possession of the Item, take out, maintain and pay for insurance against loss of and damage to the Item for the full replacement value of the Item and will name the Lessor as the loss payee
    25. The Lessee will, during the whole of the Term and for as long as the Lessee has possession of the Item, take out, maintain and pay for comprehensive general liability insurance against claims for bodily injury, including death, and property damage or loss arising out of the use of the personal Item. The insurance policy will have limits of Lessee's decision
    26. The insurance will be in the joint name of the Lessor and the Lessee so that both the Lessor and the Lessee will be protected from liability and will provide primary and non-contributing coverage for the Lessor.
    27. The Lessor is not obligated to obtain such insurance. If the Lessee fails to obtain, maintain and pay for such insurance, the Lessee will take full resposibilities for any risk at Lessee's own
    28. Default: The occurrence of any one or more of the following events will constitute an "Event of Default" under this Agreement
  • The Lessee fails to pay any amount provided for in this Agreement within the Term after same is due or otherwise breaches the Lessee's obligations under this Agreement
  • 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 parties' country or other competent jurisdiction
  • A writ of attachment or execution is levied on the Item and is not released or satisfied within 10 days, or half of the Term
  • 29. Remedies: On the occurrence of an Event of Default, the Lessor will be entitled to pursue any one or more of the following "Remedies"
  • Declare the entire amount of the Rent for the Term immediately due and payable without notice or demand to the Lessee.
  • Apply the Deposit toward any amount owing to the Lessor
  • Commence legal proceedings to recover the Rent and other obligations accrued before and after the Event of Default
  • Commence legal proceedings for the return of the personal Item
  • Terminate this Agreement immediately upon written notice to the Lessee
  • Pursue any other remedy available in law or equit
  • Assignment
    30. THE LESSEE WILL NOT ASSIGN THIS AGREEMENT, THE LESSEE'S INTEREST IN THIS AGREEMENT OR THE LESSEE'S INTEREST IN THE personal Item WITHOUT THE PRIOR WRITTEN CONSENT OF THE LESSOR
    31. If the Lessee assigns this Agreement, the Lessee's interest in this Agreement or the Lessee's interest in the Item 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 assignment.
    32. Renewal: The Lessee may renew this Agreement for an additional Term if the Lessee has given the Lessor 5 days written notice of the Lessee's intention to renew and if the Lessee is not in default of any of the terms under this Agreement. Other than as agreed upon in writing between the Parties, the renewal will be on the same terms as this Agreement, except for this renewal clause. Automatic renew applys if the rental over the Term.
    33. Address for Notice: Service of all notices under this Agreement will be delivered personally or sent by registered mail or courier to the above addresses, or email to party's registered email address
    34. Interest:Interest payable on any overdue amounts under this Agreement will be at a rate of 10.0 percent per annum or at the maximum rate allowed under applicable legislation, whichever is lower
    35. Governing Law: It is the intention of the Parties to this Agreement that this Agreement and the performance under this Agreement, and all suits and proceedings under this Agreement, be construed in accordance with and governed by, to the exclusion of the law of any other forum, the laws of the local government without regard to the jurisdiction in which any action or proceeding may be instituted
    36. NOTICE TO THE LESSEE: This is a lease. You are not buying the personal Item. Do not sign this Lease before you read it. You are entitled to a completed copy of this Agreement when you sign it
    37. Value other than Rent paid or being paid to Lessor: Deposit
    Lesee Signature: __________________ Lessor Signature: ________________