Terms Of Rent-To-Own Contract
- RENTAL PAYMENT MEANS THE PRINCIPAL RENTAL CHARGE. THIS DOES NOT INCLUDE TAX, DAMAGE AND LOSS WAIVER, LATE FEES OR COLLECTION FEES. YOU OWN THE INSTRUMENT WHEN YOU HAVE PAID THE PRINCIPAL AMOUNT AGREED UPON BY THE LESSEE AND DALE CITY MUSIC. A WARRANTY ON THIS INSTRUMENT FROM THE MANUFACTURER BECOMES VALID (IF APPLICABLE) AFTER INSTRUMENT HAS BEEN FULLY PAID FOR.
- RENTAL IS PAID IN ADVANCE OR BY THE DUE DATE LISTED ON YOUR CONTRACT. THERE IS NO INTEREST CHARGE WHILE ON RENTAL. INSTRUMENT AND ALL ACCESSORIES MAY BE RETURNED AT ANY TIME WITHOUT REFUND FOR ANY UNUSED TIME. THE RENT TO OWN OPTION WILL THEN BE NULL AND VOID.
- LESSEE AGREES TO CARE FOR THE COMPLETE OUTFIT AS IF IT WERE HIS OWN. THIS INSTRUMENT MAY NOT BE REMOVED FROM ADDRESS AS INDICATED ABOVE WITHOUT DALE CITY MUSIC APPROVAL.
- NEITHER THE SCHOOL NOR ANY OF ITS PERSONNEL ARE RESPONSIBLE FOR THIS INSTRUMENT OR ITS RETURN. RESPONSIBILITY OF ITS RETURN TO DALE CITY MUSIC IS THE LESSEES.
- IF CHOOSING THE DAMAGE AND LOSS WAIVER, REFER TO THE DAMAGE AND LOSS WAIVER ADDENDUM SHEET. DAMAGE AND LOSS WAIVER ARE VOID IF PAYMENTS ARE PAST DUE.
- RETURNED CHECK FEE IS $25. PAYMENT IS CONSIDERED LATE 5 DAYS AFTER THE DUE DATE AND A LATE FEE OF $5 IS APPLIED. IF RECURRING OPTION 1 OR 2 IS SELECTED, PAYMENT IS DECLINED AND MUST BE RECHARGED,THERE IS A $5 CHARGE FOR EACH OCCURRENCE. IF NO PAYMENT HAS BEEN MADE AFTER 14 DAYS, WE RESERVE THE RIGHT TO TERMINATE THE CONTRACT AND REQUIRE IMMEDIATE RETURN OF THE INSTRUMENT AND EXPECT IMMEDIATE REMITTANCE OF ALL PAYMENTS, LATE FEES AND COLLECTION FEES.
- DEFAULTIF YOU DO NOT MAKE A RENTAL PAYMENT WITHIN 14 DAYS AFTER THE DUE DATE, OR DO NOT MEET ANY OF THE OTHER STIPULATIONS OF THIS CONTRACT, YOU ARE CONSIDERED IN DEFAULT AND THIS CONTRACT WILL BE TERMINATED. IN DEFAULT, WE WILL ATTEMPT TO CONTACT YOU AT THE ADDRESS, PHONE AND E-MAIL ADDRESS YOU PROVIDED AND WE ARE ENTITLED TO ALL COURT JUDGEMENTS, RENTAL FEES, TAXES DAMAGE AND LOSS WAIVER FEES AND ALL ASSOCIATED COLLECTION FEES. IN DEFAULT, YOU MAY BE CHARGED A $50 COLLECTION AND ADMINISTRATIVE FEE AND WILL BE RESPONSIBLE FOR ALL COURT COSTS AND REASONABLE LEGAL FEES.
- RETURN OPTIONI UNDERSTAND AND AUTHORIZE THAT IF AFTER THE PAID INITIAL PERIOD, THE MONTHLY RENTAL FEE BECOMES MORE THAN 14 DAYS PAST DUE AND THE INSTRUMENT IS NOT RETURNED TO DALE CITY MUSIC PREMISES, THEN THE RETURN OPTION IS VOIDED AND THE ENTIRE REPLACEMENT VALUE OF THE INSTRUMENT, TAXES AND ANY ASSOCIATED FEES AND LATE CHARGES MAY BE CHARGED TO THE LESSEES CREDIT/DEBIT CARD AS IT APPEARS ON THIS CONTRACT.
- EXCHANGESRENTAL RATES AT THE DATE OF THE CONTRACT WILL APPLY THROUGHOUT THE TERM OF CONTRACT. (EXCEPT VIOLA) DALE CITY MUSIC RESERVES THE RIGHT TO APPROVE/DISAPPROVE EXCHANGES ON A CASE BY CASE BASIS. ALL EXCHANGES MADE WILL BE TO A BRAND AND CONDITION OF DALE CITY MUSICS CHOICE.
- WE OWN THE INSTRUMENT UNTIL THE INSTRUMENT HAS BEEN COMPLETELY PAID FOR. YOU MAY NOT KEEP THE INSTRUMENT IF ALL PAYMENTS HAVE NOT BEEN MADE AND ALL ASSOCIATED FEES HAVE NOT BEEN PAID. ONLY AFTER THE LAST PAYMENT DOES OWNERSHIP TRANSFER TO THE PERSON ON THE CONTRACT.
- NO REPAIR TECH OR INDIVIDUAL MAY WORK ON THIS INSTRUMENT OTHER THAN DALE CITY MUSIC. SERVICE(CLEANING, TUNING, ETC.), OTHER THAN DAMAGE, NECESSITATED BY NORMAL USE IS FREE WHILE ON RENTAL. NORMAL USE WILL BE DETERMINED BY DALE CITY MUSIC. COST OF REPAIRS TO THE INSTRUMENT RESULTING FROM DALE CITY MUSIC DETERMINING NEGLIGENCE OR THE CARELESS HANDLING OF INSTRUMENT SHALL BE THE SOLE FINANCIAL RESPONSIBILITY OF LESSEE.
- GUARANTOR-DALE CITY MUSIC WILL DETERMINE ON A CASE BY CASE BASIS IF A GUARANTOR IS NEEDED TO RENT AND THE BELOW INFO WILL BE FILLED OUT AND MAKE THE LESSEE/GUARANTOR JOINTLY FINANCIALLY RESPONSIBLE FOR THE TERMS OF THIS CONTRACT.
Loss Damage Waiver Addendum
LIABILITY DAMAGE WAIVER (LDW) (optional but recommended). If you choose this option by paying the LDW fee and are not in default of your Rent To Own Contract, you will not be liable for loss of or damage to the instrument due to theft or fire. For theft, you must furnish us with a Police Report showing forced entry within 72 hours of the loss. The LDW does not cover mysterious disappearance from the school band or orchestra room or lockers. The LDW does not cover theft without proof of breaking and entering. We will not replace the instrument, and payments made prior to the date of loss or damage are not refundable or transferable. If you claim a loss under the LDW you agree that we are subrogated to all of your rights, claims, and remedies due to the loss of the instrument including but in no way limited to your rights or any recoveries under any insurance policies.
The LDW covers certain repairs at no charge to you unless the damage is due to your willful act or negligence, in which case our standard repair rates apply. The LDW does not include damage to finishes, cosmetic damage to cases, case feet, string breakage, reeds, drum sticks and mallets, heads, bow hair, rosin, brass and woodwind mouthpiece loss, neck straps, ligature loss and caps. Mouthpiece and ligature, included with instrument at time of rental, is covered upon presentation of the broken part. ALL REPAIRS MUST BE DONE BY DALE CITY MUSIC. You can choose the LDW when this Agreement is initiated. You cannot add it later. The LDW may not be available on all types of instruments. The LDW is void if payments are past due. NO EXCEPTIONS.
TERMINATION. You can terminate this Agreement at any time, without penalty, by returning the instrument to us in good condition, fair wear and tear excepted. All original issue accessories such as strings, mouthpieces, drum pads, sticks, instrument parts, or bows must be returned with the instrument, or you must pay for them at the time of return. DO NOT LEAVE THE INSTRUMENT AT SCHOOL!