1. All equipment herein named and identified under the subdivision designated as “Equipment” in the Equipment Rental Agreement (“Agreement”) and any additions thereto are included within the definition of “Equipment” in this lease. THE LESSOR EXPRESSLY DISCLAIMS ANY WARRANTY, EXPRESS OR IMPLIED, STATUTORY, BY OPERATION OF LAW OR OTHERWISE, INCLUDING MERCHANTABILITY AND FITNESS FOR ANY PARTICULAR PURPOSE WITH RESPECT TO THE EQUIPMENT. THE LESSOR SHALL IN NO CASE BE LIABLE FOR ANY COST, CLAIMS, OR ACTIONS ARISING OUT OF THE USE OF EQUIPMENT, INCLUDING, BUT NOT LIMITED TO, THE COSTS OF ANY DOWNTIME OR FOR ANY FAILURE IN THE OPERATION OF THE EQUIPMENT OR FOR ANY LOSS OF PROFITS OR FOR ANY DIRECT, INDIRECT, OR CONSEQUENTIAL DAMAGES ARISING FROM BODILY INJURY OR PROPERTY DAMAGE, OR ECONOMIC LOSS.
2. The Equipment shall remain personal property of the title-owner to the Equipment (“The Equipment Owner”) at all times, notwithstanding possession and use by The Lessee. Lessee’s only right with respect to the Equipment is to use it/them in full compliance with this Contract during the Term. Lessee shall not permit the taking or existence of any lien, claim, or encumbrance on any such Equipment. Lessee shall not transfer, sublease, or assign any equipment without the prior written consent of the Lessor. Title to all parts, materials, and supplies furnished to the Equipment shall remain vested to The Equipment Owner. Nothing which the parties may do shall be deemed to pass title to the Lessee until and unless the title is formally passed by the execution and delivery of a bill of sale by The Equipment Owner to The Lessee after full payment of any agreed purchase price. No option to purchase or other agreement shall be construed as a conditional sales contract, and The Lessee shall give the Lessor immediate notice in the event any Equipment is levied upon or becomes liable to seizure from any cause.
3. The acceptance of the Equipment by the Lessee, receiving delivery without objection to the Equipment, exercising any dominion over same, or making any use of the Equipment constitutes acknowledgment by the Lessee that this lease is a valid and binding contract, and the Equipment is in good working order, is safe, is serviceable, and is fit for operation. The Lessee agrees that the provisions of this paragraph shall not limit the effect and extent of the Lessor’s warranty disclaimers in Paragraph 1 of these terms and conditions.
4. Lessee agrees to rent from Lessor and Lessor agrees to rent to Lessee the Equipment for the period(s) specified in Appendix A (The “Duration”). Lessee agrees to pay Lessor its stated rates, together with any other charges accruing hereunder, without proration, reduction or setoff, until all Equipment is returned to and accepted by Lessor. Unless otherwise specifically agreed to in writing by Lessor, all rental rates are for normal use of the Equipment on a single-shift basis during the Term, not exceeding 8 hours per calendar day, 40 hours per 7-day period, and 160 hours per 28-day period. The Duration of the rental may be extended by written agreement by both parties given at least three (3) days prior to the expiration of the rental Duration.
5. The Lessee agrees to pay the rent on the Equipment for the minimum period set forth in Appendix A or until this lease is terminated, whichever period is longer. Payment in full will be made upon completion of the first 8 hours of operation or conclusion of the job, whichever is less. Upon the conclusion of said minimum rental period, this lease and all of its provisions may be extended by mutual written consent of the parties, provided, however, that the Lessor may terminate for the Lessor ’s convenience any such mutual extension of this lease upon seven (7) days written notice to The Lessee at the permanent mailing address identified above.
6. Subject to The Lessee’s liability to the Lessor for rent for the Equipment for the minimum rental period, as set forth in the Agreement, the rental period for the Equipment shall begin when the Equipment is loaded out and ready for shipment and shall end when the Equipment is received by the Lessor at a point designated by the Lessor in accordance with Paragraph 9(f) of these terms and conditions. The Lessee shall pay rental for each article of Equipment named in the subdivision designated “Equipment” in the Agreement at the rates indicated for each piece of equipment, and payment shall be made in advance in the office of the Lessor at 7910 NW Eastside Drive, Weatherby Lake, MO 64152 or via ACH or wire transfer to LC Crane’s bank account. If the rental period is weekly, then payments shall be due on the first business day of each week, and if the rental period is monthly, then payments shall be due on the first business day of each month.
7. The Lessee hereby agrees to report to the Lessor any overtime operation for the Equipment and to pay the Lessor for such overtime operation at the same time The Lessee’s next rental payment for straight-time operation is due. The Lessor may use the equipment hour meter and or telematics to establish the amount of overtime operation to the extent The Lessee fails to accurately report the amount of overtime operation.
8. The Lessee hereby agrees that:
(a) The rental rates set forth herein shall not be subject to any deduction by, or credit to, The Lessee on account of any downtime or non-working time of the Equipment during the rental term. The amount of rent payable for any fraction of a month or week after the end of the minimum rental period shall be in accordance with the Lessor’s schedule for pro-rated payments, which is available from the Lessor upon request.
(b) Daily rental rates shall not be subject to deduction for any non-working time in the day and shall be paid for each calendar day in the month in advance. The amount of rent payable for any fraction of a day after the end of the minimum rental period shall not be prorated if a daily rental rate is paid for Equipment, but instead, rental payment shall be made for the entire day upon which the Equipment is returned; and
(c) Any sums due the Lessor, which are not paid as and when due, shall bear interest at a rate equal to the lesser of two percent (2%) per month or the maximum amount permitted by law.
9. The Lessee covenants and agrees to:
(a) Indemnify, save, defend, and hold harmless the Lessor from and any and all claims, actions, damages, fees, fines, penalties, defense costs, suits or liabilities which may arise out of any act, neglect, error, omission, or default of the Lessee arising out of or in any way connected with the Lessee or subcontractor’s performance or failure to perform under the terms of this agreement. The Lessee further agrees to indemnify the Lessor against loss resulting from damage to the Equipment. The Lessee shall, at its cost, provide all-risk and Inland Marine/Equipment Floater insurance with Boom and Overload coverage for the value of the rented equipment and such insurance shall name the Lessor as the loss payee. The Lessee shall furnish the Lessor a certificate of such insurance prior to taking possession and use of the equipment. Failure to maintain a certificate of insurance by The Lessee shall constitute an immediate breach and termination of the agreement.
(b) Display on the Equipment at all times a plate or stencil in the following words: “LC Crane” or “LC Crane Rental” and also a plate, banner, or stencil in the following words: “LC Crane” or “LC Crane Rental”.
(c) Permit the Equipment to be operated and serviced only by persons specially qualified to do so, grease, oil, keep in proper adjustment and otherwise maintain and service the same and keep the Equipment in efficient operating condition at The Lessee’s expense, and if replacement parts should be necessary or desired The Lessee agrees to purchase them from the Lessor or from any person, firm, or corporation designated by the Lessor.
(d) Pay all taxes and assessments which may be levied or assessed against or in respect of the Equipment, the transfer, possession, or use of the Equipment by The Lessee or against the Lessor, including any ad valorem, sales, use, consumers, or transportation tax to which the Lessor, The Lessee, or the Equipment may be subjected by reason of this lease.
(e) Defend, indemnify, and hold the Lessor harmless from and against any and all claims, loss, cost, liability, personal injury, damage, or expense, including attorney’s fees, in any manner connected with or arising out of the maintenance, use, transportation, repair, erection, or operation of the Equipment, however arising, including personal injury to the operator of Equipment or others working in vicinity of the equipment.
(f) Return the Equipment at the termination of this lease in the same condition as when received, ordinary wear and tear excepted, and if necessary, perform any service work to put the Equipment in the condition required by this lease, and if The Lessee fails to perform such work, The Lessee shall pay to the Lessor the cost of the repairs immediately on receipt of a statement from the Lessor identifying the same plus a fee of 3% of the aforementioned costs.
(g) Pay rental to the Lessor at the specified rate after return of the Equipment by The Lessee for that period of time required to make repairs and perform service work to put the Equipment in the condition required by Subparagraph (f).
(h) Keep and maintain accurate lubrication records, repair records, and records of actual hours and rates of operation in the form prescribed by the Lessor.
(i) Pay all costs, expenses and reasonable attorney’s fees that may be incurred or paid by the Lessor in enforcing the covenants and agreements in this lease.
10. The Lessee further covenants and agrees that it will not:
(a) Assign rights granted herein, further sublet the Equipment or suffer or permit it to be used by others or remove the same or any part of the Equipment from the location of the “Job Address” designated in the Agreement without the prior written permission of the Lessor.
(b) Remove numbering, lettering, banners, or insignia from the Equipment, alter the same, or affix the same or additional attachments to the Equipment, without first having obtained the Lessor’s written consent.
(c) Suffer or permit the Equipment to be seized or affected by attachment, mortgage, lien, or legal process or do or permit anything else which may encumber, impair, or cloud The Equipment Owner’s title to the Equipment.
(d) Use the Equipment beyond its capacity, or in any other manner abuse or improperly use the same.
11. The Lessee shall pay all transportation, freight, loading and unloading charges from the present location of the Equipment to the work site of the Lessee and for the return of the Equipment as provided in Paragraph 4 of these terms and conditions. The Lessee shall furnish, in writing, to the Lessor, shipping instructions, provided, however, if such instructions are not furnished to the Lessor, the Lessor shall ship the Equipment in the manner the Lessor believes to be the most reasonable under the circumstances, following any and all applicable federal, state, and local laws, rules, regulations and ordinances. In the event the Lessor desires the Equipment forwarded to any point other than a location point designated by the Lessor, then the Lessee shall pay the freight and loading charges to such location point designated by the Lessor together with any unloading charges incurred at such point, but in no event shall the amount exceed the normal freight rate and loading and unloading charges on shipment from the Lessee’s Jobsite to the point designated by the Lessor.
12. If The Lessee shall fail to punctually pay rent due hereunder or otherwise breaches this Agreement and such failure shall continue for fifteen (15) calendar days after notice thereof from the Lessor, the Lessor may terminate this lease without any other or further notice to The Lessee, and, in addition to any other remedies allowed by applicable law, the Lessor shall have the right to:
(a) take possession of the Equipment,
(b) recover from the Lessee all rental payments and other sums due and to become due the Lessor from The Lessee and the amount of any damages, injuries, and expenses, including attorney fees, incurred in repossessing, and returning the Equipment to the location designated by Lessor and satisfying The Lessee’s obligations under this lease, and
(c) enter upon the premises where the Equipment is located at the time and take possession of the Equipment, with or without legal process, and remove the Equipment.
The Lessee agrees to protect, defined, indemnity and hold the Lessor harmless with respect to any and all damages or claims of damages occasioned by any such entry, repossession, or removal and to pay the Lessor all costs, expenses and damages, including court costs and attorney fees, incurred by the Lessor by reason of any (a) refusal to permit the Lessor , or (b) inability of the Lessor to enter upon such premises and take possession of and remove the Equipment. If and at any time after a legal proceeding shall have been commenced involving or affecting the Equipment or title to the Equipment, or if The Lessee shall become bankrupt or insolvent or seek or suffer appointment of a receiver to take charge of The Lessee’s property or affairs, then and upon the occurrence of such an event, the Lessor may terminate this lease instantly and without notice and the Lessor shall have all the rights following a default accorded to the Lessor under the first two sentences of this Paragraph 12. Nothing done by the Lessor under this paragraph shall terminate or discharge The Lessee’s obligations under this agreement.
13. The Lessor or designated representatives shall have the right at all reasonable times to enter the premises where the Equipment is located, and The Lessee hereby guarantees the Lessor free access to this location, for the purpose of inspection. If any inspection, whether during the continuation of this lease or after the Equipment has been returned to the Lessor, shall disclose any loss or damage to the Equipment, The Lessee shall pay the amount of such loss or damage to the Lessor immediately on notification by the Lessor of the amount of the loss or damage plus an additional 3% fee of the assessed damages.
14. Any notice required or permitted to be given hereunder shall be in writing and shall be served if sent by United States Certified Mail, Federal Express, or UPS with confirmation of delivery. If to the Lessor, such notice shall be addressed to the Lessor at its office, 7910 NW Eastside Drive, Weatherby Lake, MO 64152 or at such other place as may be designated from time to time in writing by the Lessor. If to The Lessee, such notice shall be so mailed and addressed to The Lessee at its office at the permanent address in the Agreement.
15. If at any time required by the Lessor, the Lessee at its own expense shall furnish a bond in the amount of the value of the Equipment, with sureties satisfactory to the Lessor to ensure compliance by The Lessee of all its obligations under this lease.
16. This agreement, although not assignable by The Lessee, shall be binding on the parties and their respective successors, heirs, administrators, executors, and assigns. No modification of this agreement shall be valid or binding unless in writing and signed by both parties.
17. Upon receipt of the equipment from the Lessor, the Lessee assumes responsibility for the following service items:
(a) Completion of all preventive maintenance checks and services that come due during the operation of the Equipment. This includes service of all fluids and filters at the proper intervals and in accordance with the manufacturer’s guidelines. For the Lessor to service the equipment, The Lessee shall pay additional fees in accordance with Appendix B.
(b) Completion of all periodic inspections and adjustments in accordance with the manufacturer’s guidelines and as dictated by condition of equipment operation.
(c) Completion of all repairs deemed minor by the Lessor, for example hose replacement, belt replacement and minor electrical component repair/replacement. The Lessor will supply the parts for these repairs.
(d) The Lessee shall provide documentation of all such servicing and repairs to the Lessor upon completion of such service or repairs.
18. The Lessor assumes no responsibility for labor back charges or other costs or damages due to equipment downtime.
19. The Lessee waives any claim against the Lessor for consequential damages arising out of or relating to this Agreement.
20. The Lessee agrees that in the event of any strike, picket, sympathy strike, work stoppage or other form of labor dispute or picket in connection with the location on which the Equipment is to be used the Lessee will provide a picket free entrance for the Lessor.
21. As determined by the Lessor, venue for any litigation arising out of or relating to this Agreement shall be in the state or federal courts of Platte County, Missouri, or the state or federal courts with jurisdiction over the place of the project.
22. Except as otherwise mutually agreed in writing, this Agreement is the complete agreement of the parties and supersedes all other agreements or understandings, written or oral.
23. The Lessee waives all rights against the Lessor and its employees for damages caused by fire or other causes of loss to the extent covered by property insurance carried by The Lessee. The Lessee waives any claim against the Lessor for damage to The Lessee’s work arising out of this Agreement.
24. Lessee agrees to, at its own expense, provide to Lessor evidence of current, valid insurance in the form of a signed original Certificate of Insurance issued by an insurance company licensed to operate in the State of Missouri or the State of Kansas. THE NAMED INSURED ON ALL CERTIFICATES OF INSURANCE MUST BE THE EXACT LEGAL NAME OF THE LESSEE AND MUST BE IDENTICAL TO THE NAME OF THE LESSEE ON THE AGREEMENT.
25. Lessee agrees that the required commercial general liability (and automobile liability and/or Workers’ Compensation, if applicable) insurance shall be in effect at all times as required herein. In the event the Lessee fails to keep in effect at all times insurance coverage as required, the Lessor may, in addition to any other remedies it may have by law, take any of the following actions: (1) declare a material breach of the Agreement by Lessee and terminate the Agreement; (2) withhold any payments due to the Lessee until acceptable evidence that such insurance coverage is in effect is received; and (3) obtain such insurance coverage and add costs to amounts due from the Lessee under the Agreement or deduct such costs from any sums due or which become due to the Lessee under the terms of the Agreement.
26. Lessee agrees to list LC Crane, LLC as the additional insured and provide the certificate not less than thirty (30) days prior written notice of cancellation or nonrenewal to LC Crane, LLC at the above Certificates Holder/Additional Insured address.
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