Wallbed Rental Contract

Wallbed Rental Contract

This Wallbed Rental Contract ("Agreement") is entered into as of Effective Date: by and between Lessor Name: with principal address at Lessor Address: , and Tenant Name: with principal address at Tenant Address: . Lessor and Tenant are sometimes individually referred to as a "Party" and collectively as the "Parties."

Recitals

WHEREAS, Lessor leases and rents furniture and fixtures, including wallbeds, for residential and commercial use; and

WHEREAS, Tenant desires to rent from Lessor, and Lessor agrees to rent to Tenant, the wallbed and related equipment described in this Agreement on the terms and conditions set forth herein; and

WHEREAS, the Parties desire a written agreement setting forth the Parties' rights and obligations with respect to the rental, delivery, installation, use, maintenance, and return of the wallbed.

Now, Therefore

NOW, THEREFORE, in consideration of the mutual promises contained herein and other good and valuable consideration, the Parties agree as follows:

1. Equipment Description and Inventory

1.1. Lessor rents to Tenant, and Tenant accepts on rental, the following wallbed and accessories (collectively, the "Equipment"):

2. Term

2.1. The term of this Agreement shall commence on Commencement Date: and shall continue through Termination Date: unless earlier terminated as provided herein.

3. Rent, Fees and Payment

3.1. Tenant shall pay to Lessor rental in the amount of $ per month (the "Rent"), payable in advance on or before the Due Day: of each calendar month.

3.2. Security Deposit: Tenant shall deliver a security deposit of $ to secure performance of Tenant's obligations. The deposit shall be held by Lessor and returned in accordance with Section 14.

3.3. Late Fee: If Rent is not received within days after the due date, Tenant shall pay a late charge of $ or of the overdue amount, whichever is greater.

4. Delivery, Installation and Title

4.1. Delivery and Installation: Lessor shall arrange delivery and installation at Tenant's premises located at Delivery Address: . Tenant shall provide clear access and all necessary assistance. Delivery and installation fees: $, payable by Lessor Tenant.

4.2. Title: Lessor retains title to the Equipment at all times. Tenant shall not encumber, sell, assign, or create any lien on the Equipment.

5. Use, Maintenance and Repairs

5.1. Permitted Use: The Equipment shall be used only at the Delivery Address and only for normal residential or commercial purposes consistent with the manufacturer’s instructions. Tenant shall not use the Equipment for subletting or as security for obligations.

5.2. Tenant shall promptly notify Lessor of any damage, malfunction, or required repair. Lessor shall be responsible for repairs resulting from ordinary wear and tear. Tenant shall be responsible for repairs resulting from misuse, negligence, or unauthorized alterations. Unauthorized repairs or alterations by Tenant are prohibited.

6. Insurance and Liability

6.1. Insurance: Tenant shall maintain, at Tenant's expense, insurance covering loss, theft, damage, and public liability with respect to the Equipment in amounts customary for similar property and naming Lessor as an additional insured or loss payee as required by Lessor. Proof of insurance shall be provided to Lessor upon request.

6.2. Limitation of Liability: Except for gross negligence or willful misconduct, neither Party shall be liable to the other for consequential, incidental, or special damages, including lost profits.

7. Indemnity

7.1. Tenant shall indemnify, defend and hold harmless Lessor, its affiliates, agents and employees from and against any claims, losses, liabilities, damages, costs and expenses (including reasonable attorneys' fees) arising out of Tenant's use, possession, or misuse of the Equipment, except to the extent resulting from Lessor's gross negligence or willful misconduct.

8. Default and Remedies

8.1. Events of Default include Tenant's failure to pay Rent or other amounts when due, failure to maintain insurance, abandonment of the Equipment, or violation of any material term of this Agreement. Upon an Event of Default, Lessor may, at its option, terminate this Agreement, retake possession of the Equipment without judicial process where permitted by law, and pursue all remedies available at law or in equity.

8.2. Tenant shall be liable for all costs of collection, repossession, repair, and legal fees incurred by Lessor in enforcing its rights under this Agreement.

9. Return Condition

9.1. Upon expiration or termination, Tenant shall return the Equipment to Lessor in clean condition and in the same state of repair as received, reasonable wear and tear excepted. Tenant shall be responsible for the cost to repair damage beyond normal wear and tear and for replacement cost if Equipment is lost or stolen.

10. Taxes and Utilities

10.1. Tenant shall pay any sales, use, rental, or transaction taxes imposed with respect to the rental payments, and any fees or charges related to delivery, installation, or possession of the Equipment, except for taxes based on Lessor's net income.

11. Assignment and Subletting

11.1. Tenant shall not assign, sublet, pledge, or otherwise transfer its interest in this Agreement or the Equipment without Lessor's prior written consent, which consent shall not be unreasonably withheld.

12. Notices

12.1. All notices required or permitted under this Agreement shall be in writing and delivered personally, sent by certified mail, return receipt requested, or sent by overnight courier to the addresses set forth below or to such other address as either Party may designate by notice in accordance with this Section.

13. Amendments, Waiver and Counterparts

13.1. This Agreement may be amended, modified or supplemented only by a written instrument executed by both Parties. No waiver of any breach shall constitute a waiver of any other breach.

13.2. This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.

14. Governing Law, Entire Agreement, Severability

14.1. Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the State of , without regard to conflicts of law principles.

14.2. Entire Agreement: This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings, whether written or oral.

14.3. Severability: If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall remain in full force and effect.

15. Inspection

15.1. Lessor may inspect the Equipment at reasonable times upon prior notice to Tenant, except in emergency situations where no prior notice is required. Tenant shall cooperate with reasonable inspection requests.

16. Miscellaneous Provisions

16.1. Force Majeure: Neither Party shall be liable for delay or failure to perform due to causes beyond its reasonable control, including natural disasters, acts of government, or labor disputes; provided that the affected Party gives prompt notice to the other and uses commercially reasonable efforts to resume performance.

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