Rental Account Application – Part
A
Page 4 of
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TERMS AND CONDITIONS
1. Lease shall commence on the date noted on the Equipment Lease Agreement and shall terminate after the minimum term noted on the Equipment Lease Agreement is reached and on the date the equipment is returned to
and accepted by ILOCA SERVICES, INC. (hereinafter, Lessor), except as stated in paragraph 3 and paragraph 17.
2. Upon receipt of the equipment, Lessee or agents of Lessee acknowledge equipment is received in good condition, except as may be noted on the Equipment Lease Agreement, and that said condition is satisfactory and
acceptable to Lessee. Lessor makes no warranties, expressed or implied, with respect to the leased equipment or any part thereof and has not made, and shall not be bound by any statements, agreements or representations
not specifically set out herein, unless the same be reduced to writing and signed by Lessor.
3. Lessee agrees to return equipment to Lessor in good condition with normal wear expected. Equipment not returned in good condition shall remain subject to rental charges until the required repairs, acceptable to Lessor, are
completed. Lessee shall, at its expense, keep and maintain the equipment leased hereunder in first class working order condition,
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, and free from any and all liens and claims; install, make all necessary repairs and
replacements thereto, using only new manufacturer made or manufacturer approved parts, and provide all labor, materials, lubricants, airing of tires, parts and other supplied or items consumed by or required, in connection
with the use of said leased equipment, not removing the original tires there from, and save the repaired or replaced items; all of which shall become the Lessor’s property.
4. Lessee acknowledges acceptance of the equipment with tires as prearranged and described on the Equipment Lease Agreement. No warranties apply to tires other than expressed or implied by the manufacturer thereof.
Tires are to be returned in the same condition as received with the exception of normal usage.
5. All rental and other charges according to the Equipment Lease Agreement shall be billed to Lessee at least once each month or 28-day rental period, and Lessee shall pay invoices within 30 days of receipt thereof. Invoices not
paid when due shall bear interest at the rate of 1.5% per month until paid.
6. Lessee will pay, or reimburse Lessor for, any and all sales and use taxes in any state other than the state in which the equipment is licensed for personal property taxes, or other direct taxes levied against or based upon the
price or value of the property leased hereunder or its use or operation, or levied against, or based upon the amount of rentals paid or to be paid hereunder, or any other taxes levied against or based upon the lease or the
execution, filing, recording, or performance thereof. The term "direct taxes" as used herein shall include all taxes (except income taxes), charges and fees, levied, assessed, or charged by the U.S. Government, state
government, county, city or other taxing authority.
7. Lessee shall assume all responsibility for and promptly pay or reimburse Lessor for all license fees or taxes, bonds, permits, certificates, ass
es
sments, and/or sales, use, gross receipt, business, property, and other taxes and
tolls now or hereafter imposed upon the equipment, or upon the leasing, use or operation thereof (excluding income taxes imposed on Lessor), and on Lessor's request, provide Lessor with evidence of the payment thereof,
provided that all certificates of title and/or registrations shall be applied for and issued in the name of Lessor or its assignee.
8. Lessee hereby specifically indemnifies Lessor, and agrees to hold Lessor harmless, against all loss and damages Lessor may sustain or suffer because of: (a) the loss of, or damage to said equipment or any thereof, because of
fire, theft, collision, lighting, flood, windstorm, explosion, terrorist act or other casualty, and (b) the death of, injury to, or damage to the property of, any third person as a result of, in whole o r in part, the use or condition of
said equipment while in the custody, possession, or control of Lessee. Lessee further agrees, at Lessee's cost and expense, to procure and deliver to Lessor, simultaneously with or prior to delivery to Lessee of the equipment
leased, to keep in full force and effect during the entire term of the lease, a policy or policies of insurance satisfactory to Lessor, with Lessor named as Additional Insured and Loss Payee, and as to the form and amount of
coverage with limits of no less than $1,000,000 for personal injury liability, $50,000 for property damage liability, collision and comprehensive in the amount of the said estimated value of leased equipment, with deductible
not to exceed $1,000.
9. Lessee shall not make, suffer, or permit any unlawful use or handling of said leased equipment. Lessee shall not, without Les sor's prior written consent thereto make or suffer any changes, alterations, or improvements in or to
said leased equipment or remove there from any parts, accessories, attachments, hubodometers, mileage-tracking devices, GPS units or tracking devices, aerodynamic options, or any other equipment. Equipment
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accessories, attachments, or other items missing or damaged will continue to be considered as rented equipment until the missing property is returned or repaired, or a replacement cost is paid, as set by ILoca Services, Inc at
their option.
10. PERSONAL GUARANTEE - President, owner, or partner, or any or all officers of a corporation, agree that by signing or having a representative or agent of the company sign the Equipment Lease Agreement or a master lease,
do hereby authorize that he/she/they will personally guarantee full payment of any and all outstanding balances due, including interest, penalties, repairs, collection costs, attorneys fees, and court costs Lessor may take to
enforce the lease agreement. In the event of default, any and all officers, partners, or owners will be fully liable for all debts due to Lessor from Lessee.
11. In the event any act or thing required of Lessee hereunder shall not be done and performed in the manner and at the time or times required by the lease and these terms and conditions, Lessee shall thereby be and become in
default under the lease, thereby vesting in Lessor the right, without any notice or demand, to declare all unpaid lease rentals to be due and payable forthwith and to retake and retain said equipment free of all rights of Lessee
without any further liability or obligation to redeliver the same or any thereof to Lessee and without, to any extent, releasing Lessee from Lessee's covenants, obl igations, and indemnities provided hereunder, including but not
limited to Lessee's obligation for the payment of the rental provided herein.
12. In the event of Lessor issuing a default letter to Lessee, the term of the lease or leases immediately changes to a one-day lease starting with the day the equipment was released by Lessor. The Lessee has 24 hours in which to
return the equipment from stated deadline in default letter. If Lessee does not return equipment to the destination set by Lessor within the 24 hour period, Lessee agrees that Lessor, at their option, can report the leased
equipment as stolen property to the police. Lessee also agrees that once a police report has been filed, Lessor, at their option, may report the trailer stolen and file a claim to Lessee's insurance company. All proceeds of claim
will go directly to Lessor.
13. Lessor may, at their option, for any reason, at any time, stated or unstated, put a lease or leases in default. In the event Lessor shall retake possession of the leased equipment or any part thereof, there shall, at the time of
such retaking, be in, upon or attached to such retaken equipment any other property, goods or things of value belonging to Lessee or in the custody or control of Lessee, Lessor is hereby authorized to take possession of such
other property, goods or things of value and hold the same thing for Lessee either in Lessor's possession or, in the exercise of Lessor's sole discretion, in public storage for the account of, and at the expense of the Lessee.
14. The failure of Lessor to insist upon the punctual performance of the covenants of Lessee hereunder, Lessor's failure to exercise any right or remedy available under or upon this lease, any failure of Lessor to require payment,
as and when due, of any sum owing hereunder, or any extension of credit of forbearance on the part of Lessor, shall not constitute a waiver or any subsequent default hereunder. All demands for payment and performance
and all notices of nonpayment under this lease are hereby waived by the Lessee.
15. Lessee shall not have the right to assign this lease in whole or in part, or to sublet, rent, or otherwise hire out, or part with possession of, any said equipment to any person, firm, partnership, association, or corporation other
than Lessor, without the prior written consent of Lessor thereto. Lessor may assign this contract and all rights in it.
16. The Equipment Lease Agreement is a lease and not a sale, conditional or otherwise. The parties understand and agree that Lessee does not acquire hereunder, or by payment of said rental, any right, title or interest in or to
said equipment or any thereof, except the right to possess and use said equipment, so long as Lessee shall not be default in performance hereunder.
17. Lessee agrees that the equipment leased hereunder will not be operated by any person other than Lessee or agents or employees of Lessee, each of whom warrants to be careful, dependable operator having a currently valid
license to operate said equipment used herein, as required by law.
18. Lessee will pay all costs and expenses, including attorney fees as permitted by law, incurred by Lessor in enforcing any of the terms, provisions, covenants, and indemnities provided herein.
19. Lessor, at any time following expiration of the minimum period of the Equipment Lease Agreement, upon seven (7) days prior written notice to Lessee, may request the Lessee to return the leased equipment to the location
designated by the Lessor or change any of the rate(s) for the equipment rental. If Lessor terminates this lease as stated above, said termination shall become effective only when the Lessee has returned all such equipment to
an ILoca Services, Inc location designated by Lessor, and has paid Lessor all unpaid rents and charges allocable to the returned equipment. At the termination of the lease agreement, for any reason whatsoever, if Lessee
delivers said equipment to a location other than that stated herein, lessee shall be billed for any cost incurred in returning the equipment to the designated location. The equipment leased hereunder shall be used only in the
United States.
20. As used in the lease agreement, the term "rental day" is a calendar day or any portion thereof, and the term "month" is a 28-day rental month. The day that the lease starts, according to the Equipment Lease Agreement, and
the day equipment is returned to Lessor both constitute as a billable rental day.
21. Lessor shall not be liable for any loss of or damage to any property left stored, loaded or transported in or upon any equipment leased hereunder. Lessee does hereby expressly waive any and all claims and demands for said
loss or damage, including, but not limited to, loss of profits or other alleged consequential damages against the Lessor. Lessee does further agree to save and hold the Lessor free and harmless against any and all such claims
and demands.
22. Driver is responsible for maintaining 95 psi cold tire pressure. Driver is also responsible for maintaining proper oil level in axle hubcaps. If while on rent, an axle is damaged due to improper oil level, Lessee shall be responsible
for all costs involved in repair. It is Lessee's responsibility to check tire pressure and oil levels, along with a thorough pre-trip inspection of all equipment on a daily basis.
23. Following the return of leased equipment, a thorough inspection will be made. Lessee will be notified of any damages or excess wear, which may result in additional charges. If leased equipment is damaged, Lessee must
restore the leased equipment to its same condition as the start of the lease, or be responsible for charges as determined by an ILoca Services, Inc. inspector.
24. Security deposits shall not be used by Lessee in lieu of payment for lease/rental charges, including any application or deduction of the last month's rent. At Lessor’s discretion, Lessor may use part or all of the security
deposit(s) to repair any damage to equipment caused by Lessee or Lessee's agent(s). However, Lessee is not limited to the security deposit amount and Lessee remains liable for any additional balance. Lessor may use part or
all of the security deposit(s) as reasonably necessary, to cure Lessee's default in payment of rent (which includes late charges, NSF or other fees due).
25. Disposition of security deposits will be determined upon return of all rented equipment, based on the following: (a) Lessee has not breached terms of the lease/rental agreement by returning equipment before the end of the
rental or lease term. (b) Lessee or Lessee's agent(s) have not caused any damage by violating any terms of a written or oral lease or rental agreement, or by breaking the law. (c) Upon return to Lessor, all trailer(s) rented or
leased, trailer(s) will be inspected. Inbound inspection will be compared to outbound inspection; units must be in the same condition as when received by the Lessee or Lessee's agent(s). (d) Lessee or Lessee's agent(s) have
returned all equipment, and additional accessories issued with the unit are attached to trailer(s) when returned. Examples include; hubodometers, original brand-name tires, ILoca decals, license plates, straps, winches,
etcetera. (e) Lessee has paid all rent, lease charges, return/damage charges, and or other debts owed to Lessor. (f) Lessee has returned leased/rented equipment to Lessor's location during normal business hours.
26. Venue - Lessee agrees that Illinois' 18th Judicial Circuit Court- DuPage County or the United States District Court of the Northern District of Illinois shall be the
exc
lusi
v
e and sole possible sites for any lawsuit between the
parties arising out of or related to this Contract or the underlying lease.
Lessee
Signature
:
Date
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ILoca Services, Inc. 1-888-736-4826
Aurora, IL – Davenport, IA – Caledonia, WI