Crisafulli dredge rentals

Upon SRS Crisafulli’s approval of Customer’s Credit Application, SRS Crisafulli agrees to rent the following equipment (hereinafter "rental equipment") to Customer:
The rental term shall be for a minimum of one month (30 days) commencing on the date Customer advises SRS Crisafulli it wishes to take possession of the rental equipment (hereinafter the "start date"). Customer shall provide notice to SRS Crisafulli at least 7 days prior to the end of the rental term if Customer wishes to extend the initial rental term. SRS Crisafulli’s acceptance of an extension of the rental term is subject to SRS Crisafulli’s determination of the rental equipment’s availability.
A damage deposit equal to 50% of the first month’s equipment rental fee is due prior to shipment. Upon the rental end date and inspection of the equipment at SRS Crisafulli's factory, SRS Crisafulli may deduct from the damage deposit costs incurred by SRS Crisafulli for missing items, damaged items, negligence, excessive wear, necessary cleaning (dredge is to be steam cleaned prior to return to SRS Crisafulli's factory), and costs otherwise required to return said equipment to SRS Crisafulli in the same good condition as when received; normal wear and tear is excluded, and shall refund any balance of the damage deposit to Customer.
Monthly rental charges for the rental equipment are $xx,000. Payments due SRS Crisafulli prior to shipment of the rental equipment include the first month's rental fee of $x,000; damage deposit of $x,000; round trip freight of $x,xxx; and a one-time fee of $x,000 for on-site training of Customer’s staff and installation. Rental charges for each additional month shall be $xx,000; for each additional week $x,xxx; for each additional day $x,xxx. Customer is responsible for any sales or use taxes.
Customer agrees that the rental equipment is and shall remain SRS Crisafulli’s property. Customer shall not move the rental equipment from the site specified in this contract and shall not permit liens or encumbrances to be placed against the rental equipment.
Customer agrees to pay SRS Crisafulli $xxx,xxx, which amount is the List Price for the rental equipment) for any loss, contamination, or damage to said rental equipment while in his/its custody and to return said equipment to SRS Crisafulli in the same good condition as when received. Regardless of the party at fault, Customer agrees to be responsible for damage to said rental equipment resulting from collision, accident, contamination, or other means, unless such damage is directly caused by SRS Crisafulli. Normal wear and tear is excluded. Customer shall perform and pay for all scheduled maintenance while rental equipment is in his/its custody. Customer agrees to be responsible for any and all repairs that are attributable to misuse of the rental equipment or negligent use of the rental equipment.
Customer indemnifies and holds harmless SRS Crisafulli and its duly authorized agents from any and all damages and/or liability arising out of or resulting from Customer’s use of said rental equipment, except for negligence of SRS Crisafulli.
Customer agrees not to sublease the rental equipment.
Customer assumes all liability for any and all damages to personal property, real property and personal injury from any cause whatsoever while operating said rental equipment. Customer shall provide SRS Crisafulli with proof of liability insurance prior to SRS Crisafulli’s shipment of the rental equipment.
To enable SRS Crisafulli to enforce its ownership of said rental equipment and to protect SRS Crisafulli’s rights under this contract, Customer agrees that SRS Crisafulli may retake possession of said equipment at the end of the rental period, or immediately upon Customer’s default as to any of the terms of this agreement. For such purpose, SRS Crisafulli is entitled to enter upon Customer’s premises. Customer hereby waives any right of action against SRS Crisafulli by reason of such retaking or entry.
Customer agrees to pay the rental rate set forth in this contract for the entire period from the time Customer takes possession of said equipment until said equipment is returned to SRS Crisafulli regardless of the Customer’s actual use of said equipment. a. In the event Customer cancels a rental contract prior to taking posssession of the equipment, SRS Crisafulli shall assess a cancellation fee equal to 15% of the first month's rental fee if cancellation is at least 14 days in advance of the start date. If Customer cancels a rental contract within 14 days of the start date, the cancellation fee shall be 50% of the rental fee, which Customer agrees to promptly pay. b. In the event Customer delays acceptance of the rental equipment upon its ready date, SRS Crisafulli shall assess a penalty fee equal to 50% of the monthly rental charge, prorated for the number of days the customer delays acceptance of the rental equipment, which Customer agrees to promptly pay. The ready date is defined to be the date on which SRS Crisafulli has scheduled shipment of the rental equipment to the customer. c. SRS Crisafulli may use any customer deposits, including customer’s damage deposit, to fund penalty fees described in 11.a. and b. above.
Customer agrees to hold SRS Crisafulli harmless for any loss of revenue or expenses incurred by the Customer due to any failure of said equipment.
Customer shall reimburse SRS Crisafulli for all attorney fees, court costs and expenses incurred by SRS Crisafulli to enforce collection or to preserve or enforce SRS Crisafulli’s rights under this contract.
Payment terms are:
a. 100% of first month’s rental charges, round trip freight, and installation/training charges shall be paid prior to shipment of equipment.
b. 20% of the first month’s rental, freight, and installation/training charges are due immediately upon signing this Agreement to reserve (describe equipment and serial number) (which will be available for shipment by indicate date);
c. The remaining 80% of rental, freight, and installation/training charges is due prior to shipment or pick up of equipment.
d. Customer agrees that rental payments beyond the first month are due the first day of each month. Customer agrees to pay SRS Crisafulli a late fee of $500.00 per week for payments not received within 5 days of their due dates. Customer agrees to pay SRS Crisafulli Interest of 1.5% per month on all past due amounts.
e. Customer is responsible to unload and load all rental equipment at Customer’s jobsite (instructions to be provided by SRS Crisafulli prior to shipment), such loading and unloading to be at Customer’s expense.
Election to purchase:
a. Customer may apply 100% of the first month’s rental charges toward the purchase of the rental equipment provided Customer issues his (its) Purchase Order during the initial thirty (30) days of the rental period. The purchase price of the rental equipment is $xxx,000. Customer must notify Crisafulli by day ten (10) of the rental if Customer elects to purchase.
b. Customer may apply 50% of total rental charges incurred during the first 30 days of the rental term toward the purchase of the rental equipment if Customer issues his (its) Purchase Order between thirty-one (31) and ninety (90) days of the start of the initial rental period.
This contract represents the entire agreement between the parties hereto, and there are no collateral agreements or understandings.
In the event of a breach of this Agreement, the party enforcing its right pursuant to this Agreement shall be entitled to recover all costs of enforcement, including reasonable attorney’s fees.
This Agreement shall be construed pursuant to the laws of the State of Montana.
The parties to this Agreement agree that disputes arising hereunder shall be settled by arbitration in Billings, MT, in accordance with the commercial dispute resolution rules of the American Arbitration Association, and that judgment on the award may be entered in any court having jurisdiction.