Fill and Sign the Term Contract Form

Fixed Term Laundry Agreement This Laundry Agreement made as of this _________________ (date) by and between the Association of _________________ (Name of Condominium) , a condominium created by Master Deed dated _________________ (date) and recorded with the _________________ (Name) County Registry of Deeds in Book _________, Page _______ and with a mailing address of _________________________________ (street address, city, state, zip code) , hereinafter called Association , and _________________ (Name of Laundry Company) , a corporation organized and existing under the laws of the state of ______________, with its principal office located at __________________________________________ (street address, city, state, zip code) , referred to herein as Company. For and in consideration of the mutual covenants contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Association does hereby permit Company to use of each of the laundry rooms located in the Condominium known as _________________ (Name of Condominium) and located at ________________________________________ (street address, city, state, zip code) , said laundry rooms being _________________ (identify by numbers or in some other fashion) and located within each of the following buildings: _____________________________________________________________________ (Names of Buildings) , (collectively called Building or Buildings ). 2. The term of this Agreement shall be for _________________ (number) years commencing on _________________ (date) and terminating, unless otherwise terminated as provided herein, on _________________ (date) . 3. Association hereby agrees with the Company as follows: A. Company shall have the sole and exclusive right to operate a laundry concession in the laundry rooms and the sole and exclusive right to install therein such laundry equipment as set forth in Exhibit A attached hereto for the use of the residents of said Buildings, which includes _________________ (number) new washing machines and _________________ (number) new dryers. The initial per cycle vend prices are set forth in Exhibit A and any changes in vend prices must be mutually agreed upon in writing and the consent of either party may be withheld for any reason. B. Association shall provide at its sole cost and expense, all water, electric, gas, sewer and ventilating facilities in or with respect to the Laundry Area(s) reasonably necessary for the proper operation and use of laundry equipment. C. The occupants of said Building(s) shall have access to the laundry rooms during reasonable hours for the purpose of using such laundry equipment installed therein. D. Company's authorized representatives shall have access to the laundry rooms during reasonable hours for the purpose incidental to the operation of its business. E. Association shall not install or use, nor permit any other person, firm or corporation to install or use any similar or other type of laundry equipment in said laundry rooms while this Agreement is in effect. F. Upon the expiration or prior termination of this Agreement, the Company shall immediately (not to exceed seven (7) days) remove all such laundry equipment as shall have been installed, furnished and supplied by the Company in said laundry rooms. In the event the Company shall damage any property in the course of removal of such laundry equipment, the Company shall immediately pay to the Association the reasonable cost of repairing such damage. It is expressly understood and acknowledged by the Association that title to and the ownership of all such equipment shall at all times be and remain in and with the Company, whether the same or any part or parts thereof be affixed to the realty or otherwise but in the event of removal, all property of the Association shall be restored in a good and workmanlike manner to its condition prior to said removal. The Association shall have the right, but not the obligation, to move or store the laundry equipment at the expiration or prior termination if the Company fails to do so and shall have no liability to Company for any damages it being understood that it is the Company’s obligation to immediately remove the equipment. 4. The Company hereby covenants to and agrees with the Association as follows: A. Company shall install in the laundry rooms such laundry equipment as set forth in Exhibit A attached hereto. Such equipment shall be the latest models of their kind in terms of technology, efficiency and energy and water conservation. B. Company shall service all such laundry equipment and ventilation related to dryers at its sole cost and expense. The Company will perform general maintenance on all equipment on at least a quarterly basis each year and shall upon notice from the Association promptly perform any required repair of laundry equipment and ventilation related to dryers. In the event that any piece of equipment needs to be repaired more often than ____ times in a three-month period, the Company shall replace it with a brand new piece of similar equipment. C. Company shall assume the entire risk of any loss or damage to all such laundry equipment. D. Company shall carry and pay for public liability and property damage insurance against any claims for personal injuries and property damage sustained on the property in connection with the use of such laundry equipment, and will furnish satisfactory evidence of such insurance upon execution of this Agreement and on a yearly basis. Such liability insurance shall be in the amount of not less than $___________ per occurrence and aggregate. The Association and manager’s agent shall be named as an additional named insureds on said insurance policies. E. Company shall pay to the Association, quarterly, as a commission, ____% of the gross income collected for the use of such equipment. Said commission shall be paid by check to the Association from each installed machine. Collections of revenue shall be made at least as often as once every three months. The Association shall have the right to audit, verify and inspect collections and records, with reasonable notice as often as it deems reasonably necessary including, but not limited to, installing a second lock so that revenues may only be counted by both the Association and the Company. In addition, the Company shall pay to the Association upon the execution of this Agreement an additional improvement fee of $______________ and shall perform renovations to the Laundry rooms on or before commencement of this Agreement. F. Company agrees that they have inspected the laundry rooms and ventilation that the Association has no obligation to make any alterations, improvements or repairs thereto. 5. The Company shall keep the laundry equipment and ventilation system attached to the laundry equipment in good order and repair, and when it receives notice (telephonic or otherwise) at its office, as to the need for repair, Company shall repair the equipment as necessary. Company shall attempt to effectuate the same within a six (6) hour period thereafter, (provided said period falls within Company's normal workweek), unless circumstances beyond the reasonable control of the Company shall prevent it from so doing, and if not, shall perform the repairs as soon as possible thereafter. In the case of an emergency, the Company shall make the repairs immediately. If after receiving notice to do so, as aforesaid, the Company fails to render any requested repair, or shall otherwise fail to perform any other provisions of this Agreement within 48 hours, the Association may, upon giving of a ten (10) day written notice by certified mail, return receipt requested, to the Company, terminate this Agreement. The Association must give the Company the right within said period of time to cure any failure or default alleged, provided such failure or default can be remedied or cured within said period of time, and if not, the Company must commence to cure any such failure or default alleged within said ten (10) day period and continue the same to a conclusion as expeditiously as possible after the expiration of said ten (10) day period. In the case of the failure to pay commission, or any other monetary requirement hereunder, such failure shall constitute an event of default hereunder, unless the Company shall cure such default within ten (10) days from the written notice thereof from the Association. If Company shall fail to cure a monetary default as set forth in the preceding sentence, the Association shall have the right to immediately terminate this Agreement. 6. This Agreement shall inure to and be binding upon the respective successors and assigns of each of the parties hereto. The Company shall not assign this Agreement without the Association's prior written consent, which consent may be withheld for any reason in the sole discretion of the Association. 7. Company shall clean and maintain all vent pipes servicing the dryers located in the laundry rooms on a regular basis but not less than two times per year (or more, if necessary) during the term of this Agreement at Company's sole cost and expense. 8. Severability The invalidity of any portion of this Agreement will not and shall not be deemed to affect the validity of any other provision. If any provision of this Agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. 9. No Waiver The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as subsequently waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred. 10. Governing Law This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of _____________. 11. Notices Unless provided herein to the contrary, any notice provided for or concerning this Agreement shall be in writing and shall be deemed sufficiently given when sent by certified or registered mail if sent to the respective address of each party as set forth at the beginning of this Agreement. 12. Attorney’s Fees In the event that any lawsuit is filed in relation to this Agreement, the unsuccessful party in the action shall pay to the successful party, in addition to all the sums that either party may be called on to pay, a reasonable sum for the successful party's attorney fees. 13. 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. 14. Entire Agreement This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement. 15. Modification of Agreement Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party. 16. Assignment of Rights The rights of each party under this Agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party. 17. Counterparts This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute but one and the same instrument. 18. Compliance with Laws In performing under this Agreement, all applicable governmental laws, regulations, orders, and other rules of duly-constituted authority will be followed and complied with in all respects by both parties. 19. Company further agrees to defend, hold harmless and indemnify _________________ (Name) Condominium Association and its successors, agents, owners, employees, managers and invitees, from and against any and all loss, liability, damage or expense (including without limitation) reasonable attorneys’ fees and costs of investigation and litigation and damage to the laundry rooms or any condominium property resulting directly or indirectly from the operation, utilization and maintenance of the laundry facilities and equipment. 20. In this Agreement, any reference to a party includes that party's heirs, executors, administrators, successors and assigns, singular includes plural and masculine includes feminine. WITNESS our signatures as of the day and date first above stated. _______________________ ________________________ (Name of Association) (Name of Company) By: ____________________________ By: ______________________________ __________________________ ________________________ (P rinted Name & Office in Association) (P rinted Name & Office in Corporation) ____________________________ ____________________________ (Signature of Officer) (Signature of Officer)