RENTAL AGREEMENT
1. RENTER agrees to act as an insurer, assume and accept full and complete responsibility of all rented equipment until same is returned in satisfactory condition to TwoHatCat. TwoHatCat shall be the sole judge in determining whether said condition is satisfactory. RENTER shall also, at its own expense during the entire rental period, keep and maintain all equipment in good condition, reasonable wear and tear excepted. If any equipment is lost, stolen, broken or damaged, whether or not RENTER is at fault, RENTER shall at TwoHatCat's choosing, immediately replace such equipment with a comparable kind and quality acceptable to TwoHatCat, or pay monetary damages sufficient for TwoHatCat to replace without depreciation and or repair said equipment. RENTER is also fully liable and responsible to TwoHatCat for any lost business and/or sales as a result of the necessary replacement or repairs of said equipment, and shall compensate TwoHatCat in full.
2. RENTER shall at its own cost and expense obtain all necessary insurance, accepted and approved in advance by TwoHatCat, for all equipment rented for the full replacement value against, including, but not limited to loss, theft, damage, by fire, water, act of God (special form) or otherwise. Said policy shall name TwoHatCat as loss payee and shall be delivered with paid receipt to TwoHatCat prior to RENTER receiving any equipment. If TwoHatCat shall receive any sum or sums of money from insurance proceeds, such amount may be retained and applied towards the repair or replacement of said equipment. Any equipment, whether repaired or replaced, shall be subject to all the terms, provisions and conditions herein.
3. If RENTER fails to pay TwoHatCat within 30 days after payment is due, RENTER shall then pay as additional rent, a sum equal to 1 and 1/2 Percent per month of the unpaid rent from the date said rent Is due until the outstanding balance is paid in full.
4. RENTER shall pick up and return to TwoHatCat all equipment at Renter's own risk and expense. The rental fee must be paid in advance and rent due shall be from the date of the scheduled pickup to the date said equipment is actually returned to TwoHatCat. No allowance will be made if any equipment or part thereof was not used for any portion of the rental period. RENTER shall pay additional rent for any equipment not returned by its due date and shall also be liable to TwoHatCat for any lost business and/or sales as a result thereof, and further, shall fully indemnify TwoHatCat if any claim is made against TwoHatCat if TwoHatCat is unable to fulfill its other obligations as a result of RENTER not returning said equipment in a timely fashion.
5. TwoHatCat or anyone acting on its behalf has the absolute right to enter the premises where said equipment is kept, at any reasonable time, for purposes of viewing the condition of the equipment.
6. TwoHatCat's acceptance of the return of the equipment does not release RENTER from any liability whatsoever, and is not a waiver of any claims, including claims for latent or patent damage, that it may have against RENTER. RENTER agrees to give TwoHatCat sufficient time; such time is to be solely determined by TwoHatCat, for TwoHatCat to inspect said equipment for any latent or patent damage.
7. RENTER agrees that said equipment shall not be removed to any foreign country without prior written consent of TwoHatCat. TwoHatCat may withhold such consent for any reason or no reason at all. If TwoHatCat gives such consent, RENTER must obtain, at its own expense, all proper and necessary insurance, and all requirements of paragraph 2 as apply to this paragraph 8 herein.
8. RENTER shall not under lease or rent any equipment to any person, firm or corporation and said equipment shall at all times remain under the immediate personal control and supervision of RENTER.
9. RENTER agrees not to remove or cover the tag or name plate on the equipment showing ownership in TwoHatCat.
10. If RENTER shall default on any terms, covenants and conditions herein, or fails to make timely payments as due, or if any execution of legal process is commenced in any action or proceeding against RENTER whereby said equipment may be seized or taken, or if a proceeding in bankruptcy, receivership or insolvency shall be instituted by or against RENTER or its property, or if RENTER shall enter into any arrangement or composition with its creditors, or in the event that any judgment is obtained against RENTER, then in any of these aforementioned events, TwoHatCat shall have the option to retake immediate possession of said equipment, and for such purpose, TwoHatCat or anyone acting on its behalf has the absolute right to enter upon any premises where said equipment may be and may remove said equipment therefrom, with or without force, and with or without notice of intention to retake, without being liable to any suit or action or other proceeding by RENTER.
11. TwoHatCat's retaking possession of any equipment as provided herein above is in no way to be construed as releasing RENTER from its liability and obligations hereunder. At said retaking, 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, and for any other claim that TwoHatCat may have against RENTER
12. Under no circumstance shall TwoHatCat be liable to RENTER for any loss whatsoever or claim made against RENTER in the event any equipment does not work properly, or is unavailable or for any reason TwoHatCat is unable to fulfill its obligations hereunder. Such event will not release RENTER from this agreement and TwoHatCat's sole liability to RENTER is to replace or repair said equipment.
13. RENTER agrees to pay for all costs incurred by TwoHatCat in protecting TwoHatCat's rights or property hereunder, including but not limited to, reasonable attorney's fees.
14. Unless otherwise agreed by TwoHatCat, RENTER shall provide screen credits to TwoHatCat for equipment and/or service provided as specified by TwoHatCat.
15. This agreement contains the entire understanding between the parties and no terms, representations or warranties, expressed or implied, not herein set forth in writing shall bind TwoHatCat. This agreement may not be changed or modified except by another written agreement signed by the parties to this agreement.
16. If any of the above paragraphs of this agreement are found to be invalid and unenforceable in any court proceeding or otherwise, said paragraph shall in no way effect the rest of this agreement and said remainder of this agreement shall still be in full force and effect.