Rental Terms

In consideration of the renting by Industrial Equipment Rental named on the face hereof (IER) of that certain EQUIPMENT described on the face hereof (“EQUIPMENT”) to the lessee named on the face hereof (“CUSTOMER”), for the term described herein, upon the terms and conditions herein set forth and for the price specified herein, the CUSTOMER and IER agree as follows:

1. This Agreement is solely for the purpose of creating a rental transaction which allows CUSTOMER to use the EQUIPMENT as permitted by the Agreement. Title to said EQUIPMENT shall remained vested in IER and CUSTOMER shall have no right to assign, transfer, hypothecate, or cause any liens, or encumbrances to attach to the equipment or any interest therein nor part with possession of nor sublet EQUIPMENT or any part thereof, without the prior written consent of IER, and CUSTOMER will defend, indemnify, and hold IER harmless from all loss, liability, and expenses including attorney’s fees by reason thereof. No waivers, counter claims, or offsets of any kind or nature shall be set up or urged against IER without the prior written consent of IER. This agreement shall be binding upon and insure to the benefits of the heirs, executors, administrators, successors and assigns of CUSTOMER and IER. No option to purchase said EQUIPMENT attaches to this agreement. Any option must be in writing and signed by a manager of IER.

2. Rental rates are for single shift use (up to 8 hours per day). Fraction of the day draws full daily charge. Total charge is based upon elapsed time whether EQUIPMENT is used or not. Additional hourly charges will apply for usage if in excess of 8 hours/day, 40 hours/week, or 176 hours/4 weeks. For such excess, if any, a surcharge will be added based upon a proration of the daily, weekly, or 4 week rate, whichever is applicable. On the date of return, EQUIPMENT shall be returned to IER’s place of business or such other location designated by IER no later than the close of business on the day of return, and shall occur in person between an employee of IER and CUSTOMER or an authorized employee of CUSTOMER. Failure to return the EQUIPMENT on the date of return before the close of business will result in additional rental charges being imposed for an additional day of use. CUSTOMER will pay IER on demand at IER’s facilities designated on the front of this Agreement, all rental, transportation, sales and use tax or tax reimbursement imposed with respect to the EQUIPMENT and other charges and sums, as provided for in this Agreement, including reasonable attorney’s fees incurred in enforcement of this Agreement or for collection of any sums due. Any individual signing this Agreement for the CUSTOMER shall thereby make said CUSTOMER liable for full payment of all rental services and any other costs that might be incurred until such time as the EQUIPMENT is returned to IER. If the CUSTOMER fails to pay any invoice to IER in accordance with the terms of such invoice, the CUSTOMER will be obligated to pay a service charge of the lesser (i) 2% per month (24% per annum), or (ii) the maximum lawful rate, on the delinquent balance.

3. CUSTOMER represents and warrants that he shall not allow any person who is not qualified to operate the EQUIPMENT or use the EQUIPMENT. Such qualifications for operation include the knowledge, training, experience, and licensing necessary or appropriate for the operation of the EQUIPMENT in accordance with best practices in the industry and the EQUIPMENT manufacturer’s recommendations and requirements. CUSTOMER shall not make any changes, alterations, or modifications to the EQUIPMENT, other than as required with CUSTOMER’s maintenance obligations hereunder. The EQUIPMENT shall not be used in violation of any statue, regulation, or ordinance, and shall be used only in connection with CUSTOMER’S business and for its ordinary purpose. IER makes no representation or warranty that the EQUIPMENT meets the requirements of any statue, regulation, or ordinance.

4. IER shall not, in any case or under any circumstance, be liable or responsible for any damage to property or injury to persons or death suffered in the use, operation, and or handling of EQUIPMENT covered by this Agreement or otherwise in connection therewith, no matter how caused or occasioned. CUSTOMER assumes all risk and liability for and in connection with the EQUIPMENT covered by and during the terms of this Agreement or any holdover period, and CUSTOMER indemnifies and holds IER harmless from all claims, lawsuits, loss, injuries (including death), liability and expenses, including attorney’s fees, by reason of CUSTOMER’S use, operation, transportation, and/or handling of EQUIPMENT, excepting any loss due to the gross negligence or intentional misconduct of IER. CUSTOMER has been given and understands operating and safety instructions.

5. The EQUIPMENT is being leased to CUSTOMER “As is,” and IER hereby disclaims any and all express and implied warranties, including but not limited to implied warranties of merchantability and fitness for a particular purpose.

6. CUSTOMER acknowledges the receipt in good order and condition of said EQUIPMENT only within its rated capability. It is the CUSTOMER’s responsibility to fuel, add and change oil and filters, lubricate, make minor adjustments and perform other maintenance in accordance with manufacturer’s recommendations.

7. CUSTOMER agrees to pay all the transportation charges on EQUIPMENT.

8. CUSTOMER warrants and represents that the EQUIPMENT shall not be exposed to any hazardous, toxic, or chemically reactive material while in possession and use by the CUSTOMER except for those hazardous materials incorporated into the EQUIPMENT itself. At the expiration or sooner termination of this Agreement, upon IER’s prior demand, CUSTOMER promises to return all EQUIPMENT to IER’s premises, in the same good, clean and uncontaminated condition as when delivered to the CUSTOMER, subject only to reasonable wear.

9. If the EQUIPMENT is returned in a damaged or excessively worn condition, CUSTOMER shall pay IER the reasonable costs of restoration. In the case of loss or destruction of said EQUIPMENT, or any of the accessories, or the loss of possession thereof, or inability to return same to IER, CUSTOMER agrees to reimburse IER to the full extent of the current retail replacement value.

10. Any CUSTOMER not providing proof of insurance will be charged Loss & Damage Waiver equal to 14% of the gross rental amount. If the equipment is used in compliance with this Agreement and if the CUSTOMER pays the Loss & Damage Waiver (LDW), which is not insurance, then IER agrees to waive to the extent specified herein and in the Loss and Damage Waiver Guide provided herewith, CUSTOMER’s responsibility to IER for the loss or damage of the Equipment. If CUSTOMER does not purchase such Loss & Damage Waiver from IER as indicated on the face of this agreement, CUSTOMER agrees to provided at its expense instantaneous and continuous all risk insurance with loss payable to IER in an amount not less than the EQUIPMENTS value on all rental EQUIPMENT while in CUSTOMER’s possession and until returned to IER’s custody. CUSTOMER agrees to provide IER with a certificate of insurance giving evidence of commercial general liability, automobile liability, worker’s compensation, and contractor’s EQUIPMENT coverage in such limits satisfactory to IER and having at least thirty days written notice of cancellation to IER. A deductible fee equal to 10% of the stated value of the equipment rented will apply to any repairs made under the terms of the LDW.

11. In the event of any failure of the EQUIPMENT of any nature whatsoever, CUSTOMER shall immediately return it to IER’s premises. CUSTOMER shall not incur any expenses on IER’s account for the repair of any EQUIPMENT without IER’s prior written authorization. IER shall not be responsible to CUSTOMER for any loss, damage, or injury to CUSTOMER or any other party, caused by, resulting from or in any way connected with the failure of the EQUIPMENT, non-performance of the EQUIPMENT, or delay in delivery or other delay, or any defect in the EQUIPMENT, or from any other cause whatsoever, and all such claims are hereby specifically waived by CUSTOMER. In no event shall IER be responsible for special, incidental or consequential damages whatsoever or howsoever caused including but not limited to, loss of use, business interruption or any other economic loss, whether in contract, negligence or any other theory of liability.

12. In the event of the loss or theft of or damage to the EQUIPMENT, CUSTOMER hereby agrees to notify IER immediately by telephone and thereafter immediately report in writing to IER and the appropriate public authorities all relevant information concerning such loss, theft or damage to the EQUIPMENT.

13. Any holdover permitted by IER beyond the originally estimated rental period as set forth herein shall extend the term of this Agreement on the same terms and conditions as set forth herein, except that during any holdover period IER may retake possession of the EQUIPMENT and terminate this Agreement, with or without cause, on twenty-four hour notice.

14. If CUSTOMER fails to make payments as provided in this Agreement, or fails to abide by the terms and conditions of this Agreement, or if the EQUIPMENT covered by this Agreement is attached, levied upon or taken possession of under any writ, process or order of any court IER has the right to repossess the machine.

15. IER may replace the EQUIPMENT with equivalent EQUIPMENT at any time.

16. Any claim by CUSTOMER against IER arising out of or related in any way to this Agreement or the EQUIPMENT shall, at the option of IER, be settled by arbitration conducted in Auglaize County, Ohio, in accordance with the Commercial Arbitration Rules of the American Arbitration Association, and judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof.
17. IER reserves the right to remove the EQUIPMENT from any job at any time when, in its opinion, the EQUIPMENT is in danger of abuse, because of strikes, or for the purpose of inspection or repair.

18. This Agreement shall be governed by and interpreted in accordance with the laws of the State of Ohio. The parties hereby irrevocably submit to the exclusive jurisdiction of the state or federal courts located in Cincinnati, Ohio for any proceedings arising out of or relating to this Agreement. Should any provision of this Agreement be held invalid, such provision shall be deemed to be eliminated insofar as it is deemed invalid and the balance of this Agreement shall in no way be affected thereby. The terms and conditions contained herein constitute the entire Agreement between IER and CUSTOMER with respect to the subject matter hereof and supersede all previous oral and written communications and representations. Any contrary terms contained in a purchase order or other writing from the CUSTOMER are herby rejected and superseded by the terms and conditions contained in this Agreement. CUSTOMER’s obligations hereunder shall survive any termination of this Agreement. This Agreement may not be changed, altered, supplemented or added to at any time: except by a writing signed by both parties. This Agreement may not be assigned by Customer without the prior written consent of IER.