LEASE/PURCHASE TERMS AND CONDITIONS
1. ACCEPTANCE: CANCELLATION: Execution of this Agreement and/or acceptance of delivery of the instrument by the Customer constitutes Customer’s acceptance of all terms and conditions of the Agreement. This agreement shall become a contract upon delivery of the instrument by ATLANTA STRINGS, INC. (hereinafter referred to as “Company”). This Agreement may be canceled at any time by Customer by payment of all monthly installments and/or fees incurred through the date of cancellation, and by return of the instrument, its case and all its accessories to the Company. The Customer shall be liable for repair of finishes and/or dents to the body or parts of the instrument, bent or broken parts, as well as damage to the case and accessories. Upon receipt of the Company of the instrument in the same condition as when delivered, authorized written termination of this agreement shall release the Customer from any further liability under this Agreement.
No refunds will be given for rental payments made prior to cancellation.
2. TITLE: Title of the instrument shall remain in the name of the Company until the full purchase price, including all applicable sales taxes have been paid. Customer may pay the remaining balance in full without penalty at any time.
3. TERM: BILLING: DEPOSITS: The term of this lease is based upon the options selected by the Customer. The first billing will occur on the date of delivery of the instrument. The first monthly payment shall include the agreed “Total Monthly Payment.” Customer agrees to remit monthly payments within ten (10) days of due date and further agrees that Company may accelerate all payments due under this contract if payment is not received timely. Customer may be required to make a cash deposit in connection with the rental of an instrument. These funds will be held in a non-interest bearing account and Customer will be a general creditor of the company with respect to such deposit. Refund of a deposit or of any remaining portion of a deposit, upon termination of the contract, will be made within 30 days.
4. EXCHANGE: Customer may exchange an instrument which is undamaged and transfer 100% of its equity to the next larger size instrument at any time by commencing a new Agreement.
5. PURCHASE: Rental fees may be applied toward the purchase of the rental instrument at the stated replacement cost in this Agreement, however Customers with multiple rental accounts may not combine the equity from those accounts to purchase the rental instrument.
6. RISK OF LOSS AND DAMAGE: Risk of loss passes to the Customer upon delivery of the instrument to the Customer, who shall remain responsible for all loss and damage to the instrument, its case and accessories until returned to the Company in the same condition as when delivered. Customer shall maintain adequate insurance for loss, theft, or damage. Company may charge Customer’s Credit Card for all cost of the instrument in the event of loss, left, and partial to complete destruction of the instrument in the event of nonpayment of damage fees.
7. MAINTENANCE: Atlanta Strings, Inc. will provide any adjustments and maintenance necessitated by normal playing to keep the instrument in perfect playing condition under this Agreement. Maintenance does not cover repair or loss of strings. Under no circumstances shall maintenance or repair be performed by anyone other than Atlanta Strings, Inc. such action resulting in default under this contract. Maintenance coverage policy is void if lease payments are not up to date including all fees associated with this Agreement.
8. DEFAULT: Customer shall be in default under this Agreement if Customer: 1) fails to provide valid replacement cards upon the expiration, termination or cancellation of Customer’s credit cards listed on page 1 of the Agreement; 2) fails to inform Company of any change of address as listed on page 1 of this Agreement; 3) fails to return instrument in same condition as when delivered; 4) allows maintenance or repair to be performed by anyone other than Atlanta Strings, Inc.; 5) fails to pay damage fees assessed upon termination of this Agreement; 6) fails to pay all amounts due under this Agreement. Upon such default, the Company may at its option and with further notice: 1) accelerate all sums due under the Agreement to be immediately due and payable; 2) charge the Customer’s credit cards for the sums due under this Agreement, plus all reasonable costs of collection; 3) charge the full replacement cost of the instrument, thereby voiding any discount which might have been available to the Customer in the absence of default; 4) charge a late fee of up to $15.00 on any payment not within ten (10) days of the due date; 5) repossess the instrument and collect from the Customer all costs of retaking possession; 6) collect reasonable attorney’s fees of 15% and court costs, whether suit is instituted or not, and whether incurred at trial, on appeal or in bankruptcy proceedings; 7) elect any other remedy available at law or in equity. Such remedies are intended to be cumulative, and the exercise of one remedy shall not be construed as a waiver of any other remedy.
9. AUTHORIZATION OF CHARGE CARDS: Customer herein authorizes the Company to bill against the Visa, MasterCard, Discover, or American Express accounts listed on the reverse side of this contract if the account becomes ten (10) days past due. The Customer agrees to notify Atlanta Strings, Inc. if he/she no longer has the credit card accounts listed on the reverse side of this contract, failure to do so results in default. The Customer authorizes the Company to bill against credit card accounts listed on the reverse side of this contract for non-collected loss or damage charges. The Customer also authorizes the Company to bill against this same credit card accounts the full replacement cost set forth on the reverse side of this contract if rental payments become delinquent sixty (60) days.
10. MISCELLANEOUS: All payments shall be made to Atlanta Strings, Inc. 229 W. Pike Street, Lawrenceville, Georgia 30046. Sales tax amounts established in this Agreement will increase and/or decrease in accordance with any local, state, city, or federal taxation changes. A facsimile or photocopy of this Agreement shall have the same legal effect as an original. If any provision herein is determined to be unenforceable, the remaining terms of the Agreement shall remain in full force and effect. Customer acknowledges receipt of a true copy of this Agreement at the time of delivery of the instrument and authorizes the Company to 1) make whatever credit inquiries it deems necessary in connection with this Rental Agreement or 2) answer questions about its credit experience with the Customer. In the event of a dispute, the provisions of this Agreement shall be governed by Georgia Law.
11. OPTIONAL LOSS & DAMAGE WAIVER: An optional Loss and Damage Waiver Agreement can be added to this contract at an additional monthly fee only at its inception. If agreed upon, this waiver will cover theft of the instrument, provided a complete police report is acquired. Damages, which occur to the instrument, including cracks, broken bridges, varnish damage, or other damages of this type are also covered under this waiver. This waiver will not cover the cost of the strings or the cost of rehairing a bow.