Overview:
Liberty Compact operates administration, operational management, rental services, marketing and sales of compact heavy equipment on behalf of Excellent Equipment, LLC - The Rentor, on a contract basis and is mentioned in this agreement solely for the purposes as Rentor's agent.
Parties:
RENTOR: EXCELLENT EQUIPMENT, LLC is the sole owner of the Equipment and hereinafter is referred to as the "Rentor", agrees to rent the Equipment to the "Rentee".
RENTEE: The Rentee customer agrees to rent the Equipment from the Rentor per the rent period terms and other mutual covenants and promises in this Agreement.
Use of Equipment:
The Rentee will use the Equipment only for the purpose for which it was designed and not for any other purpose.
The Rentee will not operate the equipment beyond its normal and maximum performance specifications, nor will Rentee alter, modify or attach any item or tool to the Equipment that it is not designed to accommodate or operate.
Assignment:
THE RENTEE WILL NOT ASSIGN THIS AGREEMENT, THE RENTEE'S INTEREST IN THIS AGREEMENT OR THE RENTEE'S INTEREST IN THE EQUIPMENT FOR ANY REASON.
Extensions:
Rent periods are extendable for additional periods depending upon Equipment booking availability and upon notification of Rentor's agent prior to the expiration of this agreement and return or pick-up of the equipment.
GPS Tracking and Inspection:
The Rentee will not alter, adjust or attempt to remove any GPS or other tracking devices installed on equipment. The Rentee agrees that Rentor or its agent reserves the right to track and monitor the location, movements and other performance data of the Equipment rented to Rentee and further agrees that Rentor or its agents may, at its sole discretion, visit the location jobsite of Equipment rented to inspect Equipment, provide necessary maintenance, and monitor proper Equipment use.
Routine Maintenance:
If Rentee customer is renting equipment for longer than a single day rental period of longer than 24 hours, the Rentee agrees and is strictly required to perform regular maintenance checks and services to the equipment as frequently as daily including but not limited to:
-Daily- Checking for leaks and refilling critical fluid and oil levels such as; engine oil, hydrualic fluid, engine coolant and fuel.
-Every 8 hours of machine use- Greasing of hinge points, track systems, and all locations where a grease zerk is located for both equipment machinery and attachment tools.
-Daily- Checking for leaks and tightening if required of hydraulic hose fittings, hydraulic line connections and filter assemblies.
-Daily- Checking for leaks and tightening if required of fuel lines, engine coolant and other hose fittings.
Monthly Rental Program-Commercial: (Swap Out Support Program)
If Rentee customer is commercial company or business that is renting on our Monthly Rental Program, the Rentee agrees the rented equipment is strictly required to be made available to Rentor on a bi-monthly basis (approximately every 2 weeks) whereas the equipment or tools in the rental agreement shall be exchanged out for a like model unit that has been freshly serviced. The Rentee customer has 2 options to comply and make available the rented equipment for this bi-monthly "swap out" exchange of:
1. Return the equipment to the Rentor's designated store or service area on a pre-determined date for exchange at no additional service charge, or
2. Schedule a pre-determined time and location within 50 miles of the Rentor's store whereas the Rentor's managing agent can deliver an exchanged unit and pick-up the previous unit. This carries a delivery service charge in the first month of the monthly rental program that is 50% of the normal Delivery and Pick-up services offered by Rentor, but is waived for Rentee customers in their 2nd and subsequent months of renting monthly.
Loss and Damage:
To the extent permitted by law, the Rentee customer will be responsible for ALL risk of loss, theft, damage or destruction to the Equipment from any and every cause including but not limited to liability of damages, bodily injuries, property damage done by the equipment, theft and mysterious disappearance of equipment, and damages resulting from gross negligence, improper use or abuse of the equipment.
Normal Wear and Tear:
Normal wear and tear from equipment use is expected, but excessive wear caused from abusive or improper use of the equipment that results in, but not limited to dents, deep scratches beneath the primer and paint layers, broken hydraulic fittings and connections, ruptured hoses or lines, damaged tracks, track systems, platforms, operator panel controls, lights or other machine components will be charged and billed to Rentee customer upon return of the equipment, or deducted against any deposits paid in advance of the rental period.
Insurance, Security Deposits and Damage Responsibility:
Certificate of Insurance- If Rentee customer provides to Rentor prior to picking up equipment a valid certificate of insurance with Rentor listed as loss payee, then no loss damage waiver or security deposit may be required for the rental term.
Rental Protection- A charge equal to $50 per day paid prior to pickup of equipment includes a loss damage waiver releasing Rentee customer of responsibility for damages in excess of $2500 deemed as accidental to the Equipment for the duration of the rental period IF the Rentee customer has paid the applied charge for this waiver. The loss damage waiver is NOT an insurance policy or a substitute for insurance and does not release Rentee from loss and damage liabilities. Rentee customer is responsible for first $2500 of damages and this applied as a deductible to the Rentee customer in the event of such an occurrence.
Security Deposits- If Rentee customer does not provide a valid Certificate of Insurance with Rentor listed as loss payee OR Rentee customer does not elect and pay for Rental Protection option then a security deposit may be required for all equipment machines that host and operate tool attachments such as Mini Skid Steer Track Loaders, Mini Excavators or other available equipment.
If the Equipment is lost or damaged, the Rentee will continue paying Rent for the duration of the Rental Period, will provide the Rentor with prompt written notice of such loss or damage. The Rentor will make the said repairs and will give the Rentee written notice of and invoices for the said repairs. Upon receipt of such invoices, the Rentee will immediately reimburse the Rentor for the actual expense of those repairs.
In the event of Total Loss of the Equipment, the Rentee will continue paying Rent for the duration of the Rental Period, will provide the Rentor with prompt written notice of such loss and will replace the Equipment with encumbrance-free Equipment of the same model, type and configuration.
Cleaning and Fuel Surcharge:
A cleaning fee of $100.00 per hour will be assessed and billed to Rentee if equipment is not returned in the same clean condition as it was received. A Fuel surcharge of $9.00 per gallon will be applied and billed to Rentee if Equipment with fuel tanks is not refilled to full level as it was received.
Notices:
For all instances of notification, Rentee will contact Rentor's agent Liberty Compact by phone or text at 1-850-597-6367, or by Email at LibertyCompactSDG@gmail.com
Ownership and Right to Rent:
The Equipment is the property of the Rentor and will remain the property of the Rentor, and Rentor warrants that the Rentor has the right to rent the Equipment according to the terms in this Agreement. The Rentee will not encumber the Equipment or allow the Equipment to be encumbered or pledge the Equipment as security in any manner.
Indemnity:
The Rentee will indemnify and hold harmless the Rentor against any and all claims, actions, suits, proceedings, costs, expenses, damages and liabilities, including attorney's fees and costs, arising out of or related to the Rentee's use of the Equipment.
Governing Law:
It is the intention of the Parties to this Agreement that this Agreement and the performance under this Agreement, and all suits and special proceedings under this Agreement, be construed in accordance with and governed, to the exclusion of the law of any other forum, by the laws of the State of Florida (the "State"), without regard to the jurisdiction in which any action or special proceeding may be instituted.
Severability:
In the event that any of the provisions of this Agreement are held to be invalid or unenforceable in whole or in part, those provisions to the extent enforceable and all other provisions will nevertheless continue to be valid and enforceable as though the invalid or unenforceable parts had not been included in this Agreement and the remaining provisions had been executed by both Parties subsequent to the expungement of the invalid provision.
General Terms:
This Agreement may be executed in counterparts. Facsimile and electronic digital signatures are binding and are considered to be original signatures. Time is of the essence in this Agreement.
Entire Agreement:
This Agreement will constitute the entire agreement between the Parties. Any prior understanding or representation of any kind preceding the date of this Agreement will not be binding on either Party except to the extent incorporated in this Agreement.
Notice to the Rentee:
This is a rental agreement only. You are not buying the Equipment. Do not sign this Agreement before you read it. You are entitled to a completed digital copy of this Agreement when you sign it.
Rentee Photo ID:
The Rentee must provide Rentor a clear and fully legible front side copy if his or her valid and non-expired driver's license as identification to be included in this agreement either directly inserted, or as a separate photocopy attachment.
IN WITNESS WHEREOF the parties have executed this agreement effective as of the date set forth in the first page of this Agreement.