Fill and Sign the Lease or Rental Agreement of Vending Game or Entertainment Machines with Option to Purchase and Own Lease or Rent to Own Form

Lease of Vending, Game or Entertainment Machines with Option to PurchaseAgreement made on the ___ day of __________, 20___, between _______________________________ of _________________________________________ (street address, city, county, state, zip code) , referred to herein as Lessor, and _____________ , Inc., 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 Lessee. I. Installation of Devices Lessor agrees to install in Lessee's place of business at __________________________ ____________________________ (street address, city, county, state, zip code) , the following coin-operated vending, game, and/or entertainment devices described in Exhibit A attached hereto and made a part hereof by reference (the equipment). II. Maintenance and Repair Lessor will maintain, service, and make any necessary installations or repairs in connection with the equipment at his own expense, the only cost to the Lessee being the electricity used in the operation of the equipment. III. Division of Receipts Lessor, from time to time, in the presence of Lessee or Lessee's representative, shall open the coin boxes to the equipment and the money taken from the coin boxes shall be divided as follows: Lessor is to receive a __________________________ (e.g., weekly or monthly) service charge of $__________; then the balance is to be divided ______%to the Lessor and ____% to Lessee, which amount shall be in full payment of all privileges granted under and pursuant to this agreement. IV. Location of Equipment Lessor and Lessee agree that the equipment will at all times be located or placed in a conspicuous place on Lessee's premises readily accessible for operation by Lessee's customers. V. Other Mechanical Devices Lessee agrees that during the term of this agreement no other form of mechanical entertainment, whether coin-operated or not, will be permitted, used, or furnished on Lessee's premises. VI. License and Permit Fees Lessor and Lessee shall equally share the expense of the present and future city, state, and federal licenses on the equipment, and such expense shall be deducted from the money collected from the equipment. VII. Insurance Lessee shall keep the equipment, or any additional or replacement equipment, insured at full value for the benefit of Lessor for all perils, including, but not limited to, fire, vandalism, pilferage, theft, burglary, negligent breakage, and explosion. Lessee may include Lessor as an additional insured with respect to the equipment on policies of insurance covering Lessee's premises. Lessee shall furnish Lessor with copies of policies or endorsements evidencing such insurance on the equipment for Lessor's benefit. VIII. Lessee Free to ContractLessee warrants and agrees that Lessee does not have any agreement with any other person, entity, or organization that would prohibit Lessee from entering into this agreement. IX. Relocation of Lessee’s Place of Business It is further agreed that if Lessee moves Lessee's place of business to different premises, this agreement shall be binding at such new premises. If Lessee's place of business is remodeled or enlarged, this agreement is binding on all of the premises after such remodeling or enlargement. X. Damages for Breach A.It is further agreed, in consideration of the large expense assumed by the Lessor in purchasing, installing, and maintaining the equipment and the Lessee in allowing the equipment to be installed in Lessee's premises and because damages to either party would be difficult to ascertain, that should there be a breach of this agreement by Lessor, then Lessor will pay to lessee a sum equal to the average monthly income received by Lessee under this agreement prior to the breach, times the number of months remaining under this agreement. On a breach of this agreement by Lessee, Lessee agrees to pay to Lessor an amount similarly computed. B. It is agreed that the stated amount of damages for breach is not a penalty or a forfeiture, but a reasonable amount at which damages shall be liquidated in the event of breach by either party. XI. Term of Agreement It is further agreed that the term of this agreement shall be ___ years from the effective date stated above, and shall be renewed automatically for a one year term on the same provisions as set forth in this agreement, unless either party gives written notice of intention not to renew by registered mail at least _____, but not more than ______, days before the expiration of such term or any renewal. XII. Binding Effect This agreement shall be binding on both parties, their respective heirs, executors, administrators, successors, assigns, and transferees. XIII. Lessee’s Transfer or Sale of Business If Lessee transfers or sells the business conducted on the above-described premises or Lessee's interest in the business in whole or in part, Lessee shall give prior written notice to the transferee and to Lessor, and such transfer or sale shall be subject to this agreement and it shall be binding on the transferee or purchaser also. XIV. Entire AgreementThis document contains the entire agreement of the parties, and all prior understandings and agreements, whether oral or written, are merged in this agreement, and any subsequent modifications or waiver of any of the provisions of this agreement shall be invalid and unenforceable unless in writing signed by the parties. XV. Venue and Applicable Law This Agreement shall be governed, construed and interpreted in accordance with the laws of the State of ____________(without respect to principles of conflicts of law), and the parties submit to jurisdiction of and venue in the State of ____________in any legal proceeding necessary to interpret or enforce this agreement or any part of this agreement. XVI. 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. XVII. Option to Purchase A.Lessor grants to Lessee the option (the Option) to acquire the equipment. The Option shall be effective _____ years from the date of this Agreement and shall expire on _________________ (date), unless previously exercised by Lessee. B. The Option may be exercised at any time during its term, by written notice to Lessor, specifying the suggested date for closing the sales transaction, which date shall occur at least ___ days, but no more than _____ days, subsequent to the date of the notice. C. The purchase price shall be $_________. This price shall be payable in cash upon the delivery of the bill of sale and other documents necessary to transfer the equipment to Lessee. XVIII. Notices Notices to be given or served under this Agreement shall be deemed duly served if delivered personally or mailed by registered mail to the following addresses: A. Notices to Lessor: to _______________________________ of _____________________________________________ (street address, city, county, state, zip code) . B. Notices to Lessee: to _____________________ (e.g., President) at _______________________________ of _______________________________ (street address, city, county, state, zip code). XIX. ModificationNo modification or amendment of this Agreement shall be effective unless the modification or amendment shall be in writing and signed by the parties. WITNESS our signatures as of the day and date first above stated. __________________, INC. ________________________ By__________________________ LESSOR (Name and Office in Corporation)