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RENTAL AGREEMENT TERMS AND CONDITIONS
DEFINITON OF TERMS: In this Agreement, “we,” “us,” and “our” refer to Marshall Music Company, Lessor. “You” and “your” refer to the person(s) signing this Agreement as rental customer/lessee. “Instrument” refers to the music instrument being rented, described on the face of this agreement. “Agreement” refers to this Rental Purchase Agreement.
FREE REPAIR AND MAINTENANCE: We will make all adjustments and repairs necessary to keep the Instrument in playing condition at no charge while you are renting. We will replace the Instrument if it is damage beyond repair, again at no cost to you. We are responsible for performing all repairs and will not be liable for repair done by others. We will not pay for damage to the Instrument due to your malicious or wanton misconduct. You must be current with rental payments to get repairs or replacement. Only the instrument, case, mouthpiece, strings, and bow are covered.
EXCHANGE POLICY: 100% of rent equity (total payments you have made less 6% sales tax) applies to the exchange to a different student line instrument. You can exchange the Instrument for a different student line instrument without losing any rights or options you have under this Agreement. You must get the band or orchestra director to approve such exchanges. Equity exchange between band and string instruments is available. A change in rental rate may be necessary, as well as number of months to own exchange instrument. If exchanging from a band instrument to a string instrument, or vice versa, a new agreement will need to be signed and there will be a different due date.
TERMINATION: You may terminate this Agreement at any time by returning the Instrument to us in good condition, fair wear and tear excepted, or by making arrangements with us for its return and paying any past due amounts you owe. We may terminate this Agreement if you fail to keep any of your agreements. We may notify you of termination in writing, or by e-mail, or by telling you. You agree to pay us the fair market value of the Instrument if you fail to return it to us when this Agreement terminates or make prompt arrangement with us for its return. YOU REMAIN LIABLE FOR RENTAL PAYMENTS UNTIL THE INSTRUMENT IS RETURNED TO US.
LIABILITY FOR LOSS: Marshall will indemnify you from the loss of the Instrument from all causes. In the case of theft you are responsible for providing Marshall Music Company with a police report. Account Payments must be current.
DEFAULT AND REINSTATEMENT: If you fail to make a timely rental renewal payment (your regular monthly payment), this Agreement expires. You can reinstate it without losing any rights or options you have by making all payments due or voluntarily returning the Property to us within 7 days after the next payment due date. If you return the Property to us within that time, then you will have 90 days from the date of return to reinstate by making all payments due. If you reinstate, we will furnish you with the same Instrument or an instrument of comparable quality and condition.
If you do not make a timely rental renewal payment and do not exercise your reinstatement rights, this Agreement terminates. You must return the Instrument to us immediately and pay us all amounts past due. We may pick up the Instrument at school without your consent. If you do not return the Instrument to us, you are liable for its fair market value as of the date of termination. If we repossess the instrument all rights will be terminated and you must pay us for our reasonable costs for recovering our Instruments, which may include repossession expenses, courts costs, and attorneys’ fees.
MARSHALL MUSIC CO. retains title and security interest in the instrument until rental, in full amount of the cash price, has been paid, and I acknowledge that it is a felony to sell, mortgage, remove from the State of Michigan, pawn, or otherwise dispose of rental merchandise with the intent to defraud. NOTICE: THIS AGREEMENT HAS BEEN ASSIGNED AS SECURED TO FIRST BUSINESS SPECIALTY FINANACE, LLC, AS SECURED PARTY. This agreement is treated as the only original of this agreement.
OTHER FEES: A LATE CHARGE OF $3.00 is charged on any payment that is more than 6 days late ($4.00 if monthly payments is $40.00 or more). RETURNED CHECK FEE: $35.00.
BILLING CREDIT COLLECTIONS: All payments are due in advance. There are no refunds on rental payments. You will not receive a statement or coupons if you chooses the automatic payment option. If you choose the manual option you will be mailed payment coupons. (Note: You are responsible for monthly payments even if you do not receive a statement or coupons.) Marshall Music has a security interest in the instrument. You agree not to pawn, sell, or pledge as security the instrument in this agreement until paid for in full. The instrument must remain at the address shown in this agreement. You must inform us of any address change. You authorize us to obtain a credit report and allow us or assigned agents to contact you via phone, email, or text during the term of this agreement. If account is past due, a repossession may occur at your home. Our office will try to accommodate a change party responsible for this agreement. (It will require a credit application from a new party responsible and a signed change authorization form.)
CANCELLATION: You have 3 (three) days to cancel this agreement and, upon return of all items, to receive a full refund. Notice of cancellation must be made by midnight of the third day.
RETURN PROCEDURE: Please contact Marshall Music to notify us of your intent to return this instrument. You will be given instructions for the best way to return your instrument, and our file will be flagged as a pending return.
SMS MARKETING: Marshall Music’s SMS marketing solution is used by Marshall Music to educate, enjoy, and maintain a musical instrument as well as to suggest other products, offer lessons, and improve your shopping experience. By renting an instrument, you agree to receive recurring text notifications about product information, educational content, tips, tricks and requests for reviews from us. By consenting to commercial text messages in Marshall Music’s SMS marketing in the checkout and initializing a purchase or subscribing via our subscription tools, you agree to receive additional recurring commercial text notifications in relation to your order, including without limitation text marketing offers and transactional texts, such as product information and offers and requests for reviews from us, even if your mobile number is registered on any state or federal do-not-call list. Message frequency varies. Consent is not a condition of purchase.
If you do not wish to receive such text marketing messages and notifications, reply with STOP to any mobile message sent from us. We may send a text in response confirming your request to us. We do not charge for the service, but you are responsible for all charges and fees associated with text messaging imposed by your wireless provider. Message and data rates may apply.
For any questions, please text HELP to the number you received the messages from. You can also Contact Us for more information.
We have the right to modify any telephone number or short code we use to operate the service at any time. You will be notified on such occasions. You agree that any messages you send to a telephone number or short code we have changed, including any STOP or HELP requests, may not be received, and we will not be liable for honoring requests made in such messages.
To the extent permitted by applicable law, you agree that we will not be liable for failed, delayed, or misdirected delivery of any information sent through the service, any errors in such information, and/or any action you may or may not take in reliance on the information or service.
You agree that the telephone number you provided to us is yours and if your telephone number changes, you must notify us of your changed number. Your right to privacy is important to us. You can see our Privacy Policy to determine how we collect and use your personal information.
