Fill and Sign the Lease of Alarm System to Residential Customer Form

Lease of Alarm System to Residential Customer Agreement made on the ___ day of __________, 20___, between ___________________________ , a corporation organized and existing under the laws of the State of ______________, with its principal office located at ___________________________ ___________________________ (street address, city, county, state, zip code) , referred to herein as Lessor, and ___________________________of _________________________________ (street address, city, county, state, zip code) , referred to herein as Lessee, and I. Leased Equipment During the term of this Agreement, including automatic renewals, and at its expense, Lessor shall install and maintain the equipment specified in the schedule attached hereto as Exhibit A . Such installation shall be made at the property located at ______________________________________________________ (street address, city, county, state, zip code) , referred to herein as the Premises. II. Term Lessee hereby leases to Lessee the security system described in Exhibit A for ____years commencing on the date of this Agreement. This Lease shall renew automatically at __________ (e.g., one-year) intervals on the same terms and conditions unless Lessee sends a written cancellation notice to Lessor not less than ____days prior to the end of each __________ (e.g., one-year) period. III. Payments Lessee shall pay Lessor, at Lessor's current address, $_______ monthly, due on the ______day of each month during the term of this Lease. Lessee shall pay a $______ late charge if the monthly lease payment is not received on the due date. Lessee must pay for permits and fees imposed by government authorities on services provided and false alarm charges IV. Repair and Replacement Lessee shall pay to repair or replace equipment to comply with all standards mandated by any authority having jurisdiction to require equipment modification. If Lessor determines equipment is defective in manufacture or fails from ordinary wear and tear, Lessor shall repair or replace at its expense only its equipment leased to Lessee. Lessee does not own equipment leased from Lessor. If any part of the alarm system is damaged by Lessee , Lessee is liable for repair costs or for the full value of installation and all Lessor -owned equipment. Lessor shall be a third- party beneficiary of Lessee's insurance covering property losses. V. Loss Beyond Control of Lessor Before, during and after installation, Lessor is not liable for loss caused by __________________________________________________ (specify) or other causes beyond control of Lessor. VI. Access Lessee shall permit Lessor, or its designee, access to the Premises between ____________________ ( time) and ____________________ ( time) , Monday through Saturday, or another time agreed on or necessary to protect the interests of either Lessee or Lessor. Lessee must be present and must safeguard valuables whenever an installer is present. VII. Warranties Lessee warrants: A. That he has lawful possession and control of the Premises on which the installation shall take place; B. That he has the authority to enter into this Lease for and on behalf of all adult residents obtaining the benefits of this Agreement; and C. That Lessor shall have access to the Premises in order to provide the services agreed upon in this Lease, and all access necessary to install, repair, replace or remove equipment. Lessor is under no duty to repair the Premises after removal of its leased equipment. Lessee shall pay required electric and telephone services. VIII. Corrective Work Within ___days of completed installation, Lessee must notify Lessor of any need for corrective work on the system. After that, installation or repair is conclusively deemed accepted as functional by Lessee. Lessee is solely responsible for accuracy of information furnished to Lessor. Lessee shall hold harmless and indemnify Lessor from claims or demands arising out of installation or maintenance of the leased alarm system. IX. Removal on Termination Within ___hours after termination of this Agreement for any reason, Lessee shall give Lessor access to the Premises for the removal of Lessor- owned equipment. Lessee's failure to give access for removal of Lessor's equipment shall constitute an unlawful conversion by Lessee who shall be liable for the value of all Lessor -owned equipment and installation. X. Equipment Owned by Others Lessor is obliged to maintain Lessor -owned electronic signaling devices and systems leased to Lessee even though its equipment is used in tandem with equipment owned by Lessee or others. Lessor is not obliged to repair or replace equipment owned by others, but Lessee may purchase maintenance and repairs of such equipment from Lessor. XI. No Guarantee Against Loss Lessor does not insure or guarantee against loss. Lessee's payments to Lessor are only for the value of service and equipment furnished by Lessor and leased to Lessee. Lessor is not liable for damage due to misfeasance, malfeasance or nonfeasance by others who provide services in connection with the alarm equipment. XII. Acknowledgements by Lessee Lessee acknowledges that Lessor does not: A. Manufacture the wire, equipment or components used for detection and signaling of premises intrusion; B. Supply electric or telephone service necessary for operation of equipment or transmission of signals; C. Control police, fire or other emergency response; D. Claim the system or services cannot be affected or circumvented by any person or influence beyond Lessor's control; or E. Insure or guarantee that the equipment and services will prevent an occurrence or consequence the system is designed to detect. XIII. Limitation of Liability Because it is extremely difficult to determine the actual cause of losses or to measure actual damages, Lessee agrees that Lessor shall not be held liable for a loss in excess of the lesser figure of ___times the monthly lease payment agreed on or a maximum of $_____________. XIV. Default If a monthly lease payment or any other charge incurred under this Agreement is more than _____days past due, Lessor, at its option, may accelerate the remaining term of this Agreement and may declare all future sums due as liquidated damages. Within ____hours after demand by Lessor, Lessee shall give Lessor access to remove Lessor -owned equipment or Lessee shall pay full value for the equipment and its installation. XV. No Waiver Lack of enforcement of any provision in this Agreement by Lessor shall not constitute a waiver of its right to enforce any provision at any other time it so elects. When provisions in this Agreement are judicially construed unenforceable, the construction shall be limited only to the unenforceable provisions and shall not affect or impair the legal effects of any other provisions in this Agreement. XVI. Cancellation Lessee may cancel this Agreement if Lessee: A. Sells and moves from the secured Premises; B. Is current in all payments then payable to Lessor; C. Gives at least ___days advance written cancellation notice to Lessor; D. Allows Lessor to remove its equipment from the Premises; and E. If Lessor -owned equipment is returned in good condition, ordinary wear and tear excepted. XVII. Failure to Permit Removal If Lessee does not permit Lessor to remove its equipment before Lessee closes on the sale of his residence, then Lessee shall be liable for the full value of Lessor's equipment and installation, in addition to any lease payments then due and payable. XVIII. Increase in Payments After this Agreement is in force for one or more years, Lessor may increase the amount of lease payments due from Lessee pursuant to this Agreement. Lessee shall then have the right to cancel this Agreement when the increase takes effect, but Lessee must give to Lessor ___ days written advance notice to cancel. XIX. Charges for Bad Checks In addition to the face value of checks, there shall be a $____ charge to lessee for checks received by Lessor that have insufficient funds (NSF) or stopped payment. At its option, Lessor then may elect to declare Lessee in default and accelerate all future sums to be due and payable as liquidated damages. XX. Assignment Lessor may assign this Agreement or subcontract services to another person or entity without notice to Lessee. Lessee may not assign this Agreement without written consent of Lessor. Assignment by Lessee without consent of Lessor is a nullity and it shall not convey any obligation of Lessor to the assignee. XXI. Entire Agreement, Modification and Binding Effect This Agreement is the only understanding and Agreement accepted by either party before signing below. It shall not be altered or modified except by a writing, signed by each party to it. This Agreement becomes binding and effective when Lessee pays the requested deposit and signs below. This Agreement binds the parties, their spouses, heirs, agents, assigns, trustees, receivers, successors, and all other persons or entities who have or may have an interest in this transaction. XXII. Mandatory Arbitration Any dispute under this Agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect. XXIII. Notices All notices shall be sent to the last-known address of the recipient party by certified mail, return receipt requested. WITNESS our signatures as of the day and date first above stated. ___________________, INC. ________________________ By__________________________ LESSEE (Name and Office in Corporation)