• Rental Fee $225.00 Per Year
• LEASE TERM. This Lease is made effective on _________________ 200___ shall terminate on _______________________ 200___. It may be extended for an additional year at the rate of $199.00 (one hundred and ninety nine dollars), six months for $125.00 (one hundred twenty five dollars), or monthly for $65 (Sixty five dollars).
• SECURITY DEPOSIT. A refundable $225.00 (two hundred twenty five dollars) security deposit (for equipment) shall be left on the effective date of the agreement. It shall be returned when the equipment is returned by the Lessee, and inspected by the Lessor and deemed to be in the same condition as it was given, less normal wear and tear. The Lessee agrees to forfeit all or part of the security deposit if the lessor deems the microscope has been damaged, or if parts are missing or broken as a result of neglect or abuse
• PLACE OF DELIVERY. Morrell Instruments shall deliver the leased property to the Lessee to the above Location unless other wise specified.
• OPTIONAL INSURANCE. The Lessee may take out optional insurance against theft from the Lessor. The amount of this shall be $75 (seventy five dollars), per year. The Lessee shall assume no liability as a result of theft other then loss of the security deposit. The Lessee must provide the Lessor with an official police report within 48 hours of the theft occurrence, in order for the insurance to be valid and in effect. All other items and conditions of this Lease remain in effect if a claim is filed.
• RISK OF DAMAGE OR LOSS. The Lessee assumes all risks of loss and damage and agrees to return the equipment in the condition received from the lessor, with the exception of normal wear and tear.
• COST OF DELIVERY. The cost of delivery shall be the responsibility of the Lessee
• MAINTENANCE AND REPAIRS. The Lessee at its own cost and expense shall keep the leased property in good repair, condition and working order.
• LESSEE"S INSPECTION. Lessee shall inspect the leased property upon receipt. Lessee shall have six hours from receipt of leased property to notify the Lessor of any defect or other objection of the leased property.
• SURRENDER AND RETURN. At the termination of this lease Lessee, at its own expense, shall return to the Lessor all leased property specified herein. The leased property shall be inspected by the Lessor and Lessor has 48 hours from receipt of equipment to notify the Lessee of any defect or objection as to the condition of the leased property. Lessee shall be responsible for the cost associated with returning the equipment to the original condition it was in at time of lease.
• LIABILITY AND INDEMNITY. Liability for injury, disability caused by operating, handling, or transporting the equipment during the term of this Lease is the obligation of the Lessee, and the Lessee shall indemnify and hold the Lessor harmless from and against all such liability