Wilson Equipment Terms & Conditions for Rentals

The parties agree that the rental of equipment listed on page 1, shall be determined upon the following terms and conditions: RATES ARE BASED ON 8 HOURS PER DAY, 40 HOURS PER WEEK, OR 176 HOURS PER MONTH, BASED ON A 28 DAY MONTH.

1. TERM: the term of this rental shall commence on the day that this property is delivered to lessee or the date of execution of this agreement, whichever is the earlier and shall terminate upon delivery of the equipment to lessor at, 6731 Crater Lake Highway, Central Point, OR 97502.

2. RENT: Lessee agrees to pay as rental for the leased equipment the following sum listed, payable to the lessor at 6731 Crater Lake Highway, Central Point, OR 97502 or PO Box 503159, White City, OR 97503. A late charge of 18.000% ANNUAL PERCENTAGE RATE is charged on balances after 30 days. You may be held responsible for legal fees & court costs if legal action is required for collections.

3. CARE and USE OF EQUIPMENT: Lessee agrees to keep and maintain the equipment in good working condition during the term of this lease at its own cost and expense. NO RED DYE FUEL. Lessee further agrees that at all times during the term of this lease; it will exercise reasonable care in using said equipment, has read and understand fully the Operators Manual and ANSI Standards _________ (Initial) and shall indemnify WILSON RENTS, LLC for any damage to said equipment caused by fire, theft, accident, neglect or abuse. At the termination of this lease, lessee shall surrender said equipment to WILSON RENTS, LLC in as good order and condition as the same now is, except for reasonable wear and tear.

4. TITLE TO EQUIPMENT: Title to equipment which is the subject matter of the lease shall be and remain with WILSON EQUIPMENT LLC at all times during the term hereof. Lessee shall not remove or permit to be removed, from any equipment the serial number, model, name or other indicia showing ownership to the equipment in WILSON RENTS, LLC Lessee has inspected each piece of said equipment and acknowledges that the same is in good working order.

5. POSSESSION OF EQUIPMENT: Lessee shall not remove rented equipment from its place of business, nor transfer the possession to anyone, nor allow the equipment to be removed from its possession, nor assign this lease or sublet the property hereby leased to the lessee. Lessee further agrees to keep all property free of all taxes, liens and encumbrances.

6. INSPECTION OF EQUIPMENT: For the purposed of examining and inspection said equipment, WILSON RENTS, LLC may enter any premises wherein said equipment is stored or is being stored or is being used and make a reasonable inspection of said equipment.

7. DEFAULT: Lessee shall have the right to retain the possession of the equipment only so long as it shall not be in default of the payments under this agreement. Time is of the essence in the payment of the rent required by this agreement. If lessee is in default on any payments owing under this agreement or if any execution or other process shall be issued in any action or proceeding against lessee, WILSON RENTS, LLC shall have the right to take immediate possession of said equipment and may enter upon any premises where said equipment may be located without being liable in any suit or action or proceeding buy lessee.

8. REPOSSESSION: Upon any repossession of said equipment pursuant to article 7 of this agreement, lessee's obligations to pay further rent shall terminate. The repossession will not waive or prejudice any right or claim of lessor for rent owing, if any, or on account of any proceeding breach or breaches this agreement by this agreement by lessee.

9. WARRANTIES: There are no warranties, expressed or implied, by lessor to the lessee, except as contained herein. Lessor shall not be liable for any loss or damage to the lessee, nor to anyone else or to any property of any kind howsoever caused, whether by any vehicle, or the repair, maintenance of the equipment hereof, or by any failure thereof, or by any failure thereof, or by interruption of service or use of any vehicle leased hereunder.

10. WAIVER OF LESSOR: The failure of WILSON RENTS, LLC to insist upon the performance of any term, covenant or condition of this agreement or to exercise any right or privilege in this agreement is not a waiver of any other breach, term or covenant or condition of this agreement.

11. INSURANCE: Lessee shall provide lessor with a certificate of insurance from a reliable carrier showing that said equipment will be insured of the value of the equipment as listed herein. Lessor shall be named insured under said policy and shall be entitled to receive any payments from said policy. The insurance shall cover any loss to the equipment caused by accident, fire or theft under a standard all-risk policy during the term of this agreement. In the event lessee fails to provide said insurance, lessor may pay for such insurance and the amount paid shall be added to the next rental payment due from lessee.

12. CLAIMS, LOSSES AND CAUSES OF ACTION: Lessee agrees to indemnify and to save lessor harmless from all claims, losses, causes of action and expenses, arising from the use, possession, maintenance or operation of said equipment leased here under.

13. PERFORMANCE BY LESSEE: In the event of the failure by lessee to pay payments required hereby or to perform any of the terms or conditions of this agreement on its part to be performed, lessor may cancel and terminate this agreement or may resort to any other rights or remedies afforded it under the laws of the State of Oregon or under this agreement.

14. ATTORNEY'S FEE'S: Guarantor agrees to pay upon demand all of WILSON RENTS, LLC costs and expenses, including Wilson Equipment Inc. attorney's fees and WILSON RENTS, LLC legal expenses, incurred in connection with the enforcement of this Guaranty. WILSON RENTS, LLC may hire or pay someone else to help enforce this Guaranty, and shall pay the costs and expenses of such enforcement. Costs and expenses include WILSON RENTS, LLC attorney' fees and legal expenses whether or not there is a lawsuit, including attorneys' fees and legal expenses for bankruptcy proceedings (including efforts to modify or vacate any automatic stay or injunction,) appeals, and any anticipated post-judgment collection services. Guarantor also shall pay all court costs and such additional fees as may be directed by the court.
Jury Waiver: WILSON RENTS, LLC and guarantor hereby waive the right to any jury trial in any action, proceeding, or counterclaim brought by either Wilson Equipment Inc. or guarantor against the other.

15. ARBITRATION, NOT LITIGATION: All claims, controversies, disputes, or otherwise, shall be decided not by court action, but by neutral and binding arbitration in accordance with the then effective arbitration rules of the Uniform Arbitration Act, as currently codified in Oregon Revised Statutes 36.600 to 36.740. Judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction. A party substantially prevailing in an arbitration shall also be entitled to recover such amount for its costs and attorney fees in connection with the arbitration, as shall be determined by the arbitrator.

16. TIRES: Tire damage and repair on any equipment rental with tires are always customer's responsibility to repair or replace.

17. MISCELLANEOUS: Lessee will keep equipment locked and guarded when not in use. WILSON RENTS, LLC charges for the time the equipment is not time used. Equipment must be returned clean.