RENTAL CONTRACT TERMS AND CONDITIONS MUSIC MEMORIES, INC. d/b/a AMERICAN MUSIC CENTRE
1. It is understood that this is a rental agreement, not a lease or a contract of sale. You are not purchasing or ‘renting to buy’ an instrument. Instead, you are renting an instrument to use for the time period set forth on the reverse side of this document. Early return does not result in any discount or pro-rating of the rental period cost.
2. At the end of the rental period, the rented instrument shall be returned to AMC in good condition, minus wear and tear caused by proper use.
3. Renter may at that time be offered a purchase option for the instrument at a discounted price, if Renter qualifies and so elects.
4. Title to the rented instrument at all times remains in the name of AMC.
5. Renter shall immediately notify AMC of any change of home address, telephone number, employment, credit card and/or banking information that occurs during the term of this contract.
6. In the event that the Renter files for bankruptcy protection, voluntary or otherwise, this rental agreement expires and the rental instrument must be immediately returned to AMC.
7. Renter will be liable for a late fee in the sum of $30 for any monthly payment that is not made when due under this contract.
8. In the event that the instrument is not timely returned at the end of the rental term, Renter will be liable for a late fee in the sum of $30.00 and for additional rental of the instrument.
9. In the event that the instrument is not timely returned at the end of the rental term, Renter forfeits accumulated equity and refundable deposit(s) as set forth on the reverse side of this Rental Contract.
10. In the event that the instrument is not timely returned at the end of the rental term and such return is over 30 days late, then Renter shall be liable for the full replacement cost of the instrument as set forth on the reverse side of this Rental Contract.
11. In the event that AMC resorts to collection action for anything due under this Contract, Renter shall be responsible for all expenses of same including but not limited to reasonable attorneys’ fees.
12. In the event of litigation in connection with this Agreement, such shall take place in a court located within Monroe County, New York.
13. In the event that any check paid by the Renter to AMC is returned by the bank for any reason, then the Renter hereby agrees to pay a $30.00 service charge to AMC in consideration thereof, in addition to making good the unpaid check.
14. Permission is hereby given by Renter for American Music Centre (AMC) to run a credit check on Renter as part of AMCs decision whether to enter into this contract, and from time to time as AMC may deem necessary to assure the Renter’s continued creditworthiness. AMC will consider Buyer’s credit and employment information, among other factors, in making such decision.
15. AMC is authorized to charge any and all payments due by Renter to Renter’s credit card as set forth on the reverse side of this rental contract.