1. Agreement. This document is and for all intents and purposes shall constitute a legally binding contract by and between Rental Systems International, which shall hereafter be referred to as the “Company” and the person, firm, or corporation more particularly identified above and below, which said person, firm, or corporation shall hereinafter be referred to as the “Customer”.
2. Services Rendered. The Company agrees to furnish the said waste collection equipment to be specified and the Customer and their heirs, successors, and assigns in accordance with the terms and conditions of this agreement.
3. Binding Effect. The agreement shall constitute a legally binding contract on the part of the Company and the Customer and their heirs, successors, and assigns in accordance with the terms and conditions of this agreement.
4. Terms. This agreement shall be in full force and effect for an initial term of 60 months and shall be renewed for successive terms without further action by the parties: provided, however, that this agreement may be terminated at the end of any term by either of the parties hereto by notice to terminate by certified mail received not less than 60 days prior to the expiration of the current term.
5. Payments. The Customer shall pay the Company on a monthly basis for the services and/or equipment furnished by the Company in accordance with the charges and rates provided for herein. Payments shall be made by the Customer to the Company within 20 (twenty) days of the receipt of an invoice. The Company may impose and the Customer agrees to pay a late fee for all past due payments, which said late fee shall be 5 (five) percent of the monthly payments; in no event in an amount which shall exceed the maximum rate for same allowed by applicable law.
6. Liability for Equipment. The customer acknowledges that it has the care, custody, and control of the Company’s equipment which is owned by the Company and accepts responsibility for the equipment and its contents at all times except when it is being physically handled by the employees of the Company. The Customer, therefor, expressly agrees to defend, indemnify, and hold the Company harmless from and against any and all claims and loss of or damage to property, or injury to or death of any person or persons resulting from or arising in any manner out of the Customer’s use, operation, or possession of any of the equipment furnished under this agreement. If customer moves or relocates its business, the company reserves the right to relocate the equipment to the new site.
7. Taxes. The Customer shall be responsible for and shall pay any and all local, municipal, and/or state taxes which shall be imposed upon the service unit during the term of this agreement or any extension thereof and shall hold the Company harmless from all liability in connection therewith.
8. Failure to Perform. In the event the Customer terminates this agreement prior to the expiration of its term or any extension thereof or breaches its obligations pursuant to this agreement, the Customer agrees to pay the Company as liquidated damages a sum of money equal to the total of the Customer’s remaining monthly payments. The parties hereto expressly agree that the award of such liquidated damages would be particularly approximated in the event of a breech by the Customer of this Agreement since the Company requires all of such income from the equipment supplied in order to economically amortize the cost of the purchase, maintenance, and application thereof to the Customer’s needs. In the event that the Customer fails to pay the Company all amounts which become due under this Agreement or fails to perform any of its obligations pursuant to this Agreement, and the Company refers such matter to an attorney for collection, the Customer shall pay, in addition to the amount due, any and all costs incurred by the Company as the result of such action including, to the extent permitted by law, reasonable attorney’s fees and court costs.
9. Applicable Law. If any provision of this Agreement shall contravene existing law in jurisdiction in enforcement thereof is sought, such provisions as contravene applicable law and only such provisions shall be unenforceable; however, all provisions of this Agreement which shall not exist in violation of applicable law shall remain in full force and effect.
10. Excused Performance. Neither party hereto shall be liable for its failure to perform hereunder due to contingencies beyond its reasonable control including, but not limited to, strikes, riots, fires, and acts of God.
11. Assignments. The Customer shall not assign this Agreement without the prior written consent of the Company; however, the Company may assign this Agreement without the Customer’s consent to any person, firm, or corporation affiliated with the Company, with which the Company may merge or consolidate, or to which it may sell all or a substantial portion of its assets.
12. Installation. Installation shall be performed within 5 weeks from date of signed agreement.
13. Site Survey. All rentals must be approved by a Compactor Rentals Representative site survey before service agreement can be fully executed.
14. Service. Request for service can be emailed to [email protected] or by calling (401) 935-9093.
