EQUIPMENT RENTAL AGREEMENT
1. THE PARTIES. This Equipment Lease Agreement (“Agreement”) is made and
entered into on this day of __________November 10, 2024__________, by and between La Jolla Dive / Zach's Scuba Shack with a mailing address of:
2144 Avenida de La Playa, La Jolla CA 92037, and
Renter: ____________ ________
2. EQUIPMENT. The Owner and Renter agree to enter into a binding agreement for
the leasing of the following:
Hereinafter known as the “Equipment.”
3. TERM. The lease period begins on __________November 10, 2024__________, and
continues until end of your purchased rental period.
4. PAYMENTS. The Renter agrees to pay La Jolla Dive / Zach's Scuba Shack a one time payment to lease the Equipment during the Term. Such payment is due and payable prior to the execution of this Agreement.
5. SECURITY DEPOSIT. A Security Deposit is required for certain equipment.
Deposit shall be paid by the Renter if needed for your gear.
6. LATE FEE (RETURNING EQUIPMENT). If the Renter does not return the
Equipment by the agreed to time within set Terms, a Late Fee shall be Charged of the original rental amount for each additional day.
In addition, the unpaid Late Fee shall accumulate interest at the maximum interest rate (usury rate) allowed under Governing Law.
Under this Agreement, the Equipment shall remain the property of the Owner and must be returned to the Owner in the same condition as the start of the Term, normal wear and tear excepted. ____ __.
7. INSURANCE. Insurance for the Equipment by the Renter is not Required; however we do highly recommend that all scuba divers get DAN insurance. There is no insurance required to be obtained by the Renter
Under this Agreement for the Equipment. The Renter shall be fully responsible for any loss, damage, or destruction of the Equipment.
8. OPTION TO PURCHASE. At any time during the Term, the Renter shall have no Option to Purchase. This Agreement is strictly for the leasing of the Equipment with no option to purchase by the Renter. Renter does reserve the right to offer equipment for purchase after said Term.
9. USE OF EQUIPMENT. The Renter agrees to use the Equipment for its intended use and legal purposes. Any use of the Equipment outside of its intended use or for unlawful purposes can result in the termination of this Agreement. __ __.
10. RENTER’S RESPONSIBILITY. It is the Renter’s responsibility to maintain the Equipment in accordance with industry standards during the Term. Any repairs, modifications, or damage caused to the Equipment, except for common wear and tear resulting from its intended use, shall be the Renter’s responsibility to repair or replace
11. REPAIRS. If, at any time, the Equipment ceases to function in its intended use at no fault of the Renter, the Owner agrees to either:
a.) Replace the Equipment. The Owner shall replace the Equipment with another that is equal in respect to brand, function, features, and purpose. During theexchange period under which the Renter has notified the Owner of the requested repair.
b.) Repair the Equipment. The Owner shall repair the Equipment on a timely basis and in accordance with industry standards. During the repair period under which the Renter has notified the Owner.
If the Renter is not at fault for the repair needed to the Equipment, the Renter shall not be charged during the exchange period under which the Renter has notified the Owner of the Equipment’s malfunction to when the Equipment is repaired or replaced and returned to the Renter. Any payments made shall be credited for future use of the Equipment.
12. DEFAULT. In the event of Default by the Renter, the Owner may terminate this Agreement and take possession of the Equipment without prejudice to any other remedies the Owner may have. Owner reserves the right to refuse service to Renter.
13. INDEMNIFICATION. The Renter shall indemnify and hold the Owner harmless from any loss, damage, or expense arising from the Renter’s possession, use, or misuse of the Equipment. ___ ___.
14. ENTIRE AGREEMENT. This Agreement constitutes the entire agreement between the Owner and the Renter concerning the subject matter hereof and supersedes all prior agreements, understandings, negotiations, and discussions, whether oral or written.
15. GOVERNING LAW. This Agreement shall be governed under the laws located in the
State of California.
16. ACCEPTANCE OF TERMS & CONDITIONS.
IN WITNESS WHEREOF, the Owner and Renter have executed this Agreement as of the date first above written.
Renter Signature: _________ ____________ Date: _______November 10, 2024________
Print Name: _______________ ______________ |