Instrument Rental Agreement

TERMS AND CONDITIONS

Rental Terms:
You agree to lease the Instrument for the minimum initial 3 month trial period. You are not obligated to renew this Agreement beyond the initial trial period.  Upon the expiration of the initial trial period, this lease automatically renews and will be charged every 3 months until returned.

Ownership Terms:
If you choose to acquire ownership through recurring rental fees, You will make payments, which include: (1) the initial trial period, (2) additional recurring rental payments totaling the buyout price of the instrument.  Payments are subject to sales tax. You will not own the Property until completing the total payments necessary to acquire ownership listed herein.

Termination Option:
At any time prior to the end of a monthly lease period, you may terminate this Agreement by returning the Property in good condition to Academy of Music 4200 Trabuco Rd Ste 150, Irvine, CA 92620.  However, You are still responsible for any accrued monthly rental payments, late charges and shipping charges incurred prior to return.  We don’t pro-rate partial months.

Exchange Option:
If you want to switch to a different instrument, Academy of Music will apply 50% of the monthly rental payments made on the previous Agreement towards the balance of the new agreement.

Reconditioning Fee:
All rentals per this agreement will be assessed a reconditioning fee regardless of length of rental per the following schedule;  Percussion Kits, Guitars, Violins, Violas will have a reconditioning fee of $20.  All Brass and Woodwind instruments: Piccolos, Flutes, Clarinets, Trumpets, Trombones, Alto Saxophones, Tenor Saxophones, French Horns, Baritones and Cellos will have a recondition fee of $30.

Insurance:
This Agreement has monthly Insurance for your protection.  If you are not in default, you are not liable for loss or damage to the instrument due to theft or fire. For theft, you must furnish us with a Police Report showing forced entry within 72 hours of the loss. The insurance does not cover mysterious disappearance from the school band or orchestra room or lockers. The Insurance does not cover theft without proof of breaking and entering. Payments made prior to the date of loss or damage are not refundable or transferable. If you claim a loss under the Insurance coverage you agree that we are subrogated to all of your rights, claims, and remedies due to the loss of the instrument including but in no way limited to your rights or any recoveries under any insurance policies. Insurance covers certain repairs unless the damage is due to your willful act or negligence, in which case our standard repair rates apply. Insurance does not include damage to finishes, cosmetic damage to cases, case feet, string breakage, reeds, drum sticks and mallets, heads, bow hair, rosin, neck straps, ligature loss and caps. Mouthpiece and ligature included at time of rental, are covered upon presentation of the broken part. ALL REPAIRS MUST BE DONE BY AN Academy of Music APPROVED TECHNICIAN.

Every Insurance claim is subject to a $50 deductible for small instruments and $99 for Saxophones, Cellos, Baritones and French Horns. You are responsible for keeping the Property in good condition and for any costs associated with servicing or repairing the property while it is being leased, including replacement of expendable accessory items.  

Recurring Payments:
Rental payments are due before the 1st of each month.  If your payment is returned or declined, a late fee of $20 per month will apply ten (10) days past the payment due date and future payments will be applied to any applicable late charges on the account before rental fees can be applied.  Returned check and returned electronic debit fee: $25.00

Automated Billing: 

Once your initial trial period expires, your account will automatically move to 3 month recurring rental. The payment method you used for your initial trial period will be charged approximately 10-14 days prior to your due date. You are responsible to maintain a payment method and valid credit card with current expiration date on file with us for billing and collateral purposes. You may update and change the credit card on file at anytime via email at aomirvine@gmail.com or by calling or text 949-771-5100.  Any payment method given for billing purposes may be used without notice to clear rental fees, past due fees, late fees and fees that may remain due after return.  Academy of Music will not be liable for any overdraft, late, over limit or any other fees incurred to the payment method provided.

Change of Address or Credit Card Billing:

You must inform us in writing of any address changes. All rental payments are due in advance. There are no refunds on rental payments. You authorize us to receive updated credit card information including a new number or expiration date from the credit card issuer.

Default: 

If you fail to make a rental payment within 10 days of the due date, or breach any other term in this Agreement, you are in default and this Agreement terminates. Upon default, any rental credit earned will be void, and you are liable for amounts due us and immediate return of the instrument.  After we give you any notice required by law, we are entitled to all legal remedies, including repossession and damages. If you default, you must pay us reasonable costs of collection which may include some or all of the following: a $50 repossession fee, a 30% third party debt collection fee, late fees and a $15 third party administrative collection fee plus any court costs and/or legal fees, as permitted by law. These amounts are in addition to any balance due.  If you are in default, Irvine Academy of Music, reserves the right to report your credit and payment history to any of the credit reporting agencies at our option.

Repossession Rights:
If You do not renew this Agreement or if You breach this Agreement, Academy of Music has the right to repossess the Property. If this happens, You agree to return the Property to Academy of Music 4200 Trabuco Rd Ste 150, Irvine, CA 92620 or make arrangements for Academy of Music to take possession of it. You agree Academy of Music may pick up the Property from your child’s school. You are responsible for any monthly rental payments which accrue before Academy of Music acquires possession.  If you fail or refuse to comply with this requirement, You agree to pay Academy of Music’s costs incurred in taking possession to include but not exclusive of court costs and attorney fees to the extent permitted under state law or as awarded under bankruptcy code.

Notice of Right to Reinstate the Agreement:
If You breach this agreement for failure of terms or payments, You may reinstate this agreement within one rental term after the expiration of the rental term for which You last made a timely monthly rental payment, by doing one of the following; (1) pay all past due rental payments, including any applicable sales tax; (2) pay the reasonable cost of pick-up and delivery if the Property has been picked up by Academy of Music or its representative; and (3) any applicable late fees. In order to have right of reinstatement, You must have returned or voluntarily surrendered the Property upon the request of Academy of Music. Upon reinstatement, Academy of Music will provide You with the same property or substituted property of comparable quality and condition. In the event You did not voluntarily return the Property at the request of Academy of Music, You will have no right to reinstatement.

Additional Terms and Conditions of this Agreement:
This document contains the entire agreement between You and Academy of Music and cannot be modified except in writing and signed by You and Academy of Music.  If more than one person signs this agreement, as ‘lessee’ the liability shall be joint and several. If any provision of this Agreement is not allowed by state law, then that provision shall be considered void and the remaining provisions will remain in force and effect.