Rental Contract

This agreement is entered into between Neighborhood Music School Inc. 
(hereafter referred to as "NMS" or "NMS Inc." and (hereafter referred to as "Renter")

1)    All rental fees are due in advance and prepaid monthly.  Rental for any part of a month is considered rent for an entire month. may return the instrument and terminate the agreement anytime after having fulfilled the 3 month minimum rental provided all payments are current at time of return.  No refunds will be awarded for partial months rent.

2)    A downpayment, a Security Deposit, and a 1st month's Rent is taken upfront.  

DOWNPAYMENT
When a rental instrument is returned, a downpayment will be kept as a cleaning fee.  If an instrument is kept, the downpayment goes toward the purchase price

Down payments on instruments are determined as follows: $15 for strings, $30 for keyboard, $35 for brass, $45 for flutes and clarinets, $50 for saxophones, and $55 for Oboe. Additional charges may be incurred for dents, scratches, and breakage.  

SECURITY DEPOSIT
A amounts to about 35% of the retail cost of the instrument.  The security deposit may be returned in full if instrument is returned in good condition at the end of the agreement, or if the renter decides to own the instrument by paying it off.  If the instrument is returned damaged beyond normal wear and tear, an extra fee may be deducted from the security deposit before it is returned to the renter.  

MONTHLY RENT
The renter shall leave an updated credit card at all times from which monthly rent shall be deducted automatically.

Instruments are typically a minimum rental length of 3 months.  Terms shorter than 3 months will incur a double down payment (cleaning) fee.
 
3)    The renter, assumes all responsibilities, including financial liability, for any loss, damage, or theft to the above described rental merchandise. 

4)    Insurance in the amount of 10% of the instrument may be purchased up front, which would eliminate the cleaning and breakage fee cost.  

5)    Changing Sizes:  When instrument needs to be upgraded (quality) or resized,  are returned If an instrument is returned in excellent condition, 50% of the rent may apply toward the purchase of another instrument of equal or greater value.  If the Renter chooses to use this credit, it must be used before the termination of this agreement.  

7)    The renter, agrees to notify of any change in personal information related to billing including name changes, credit card changes or address or phone # changes. 

8)     is to retain full title of the above described merchandise.  Renter agrees not to sell, rent or remove from Renter's address (given below), except for school or normal performance use.  Renter agrees to notify . in writing 30 days prior to change of address.  To remove said instrument outside these conditions or without the consent of may result in criminal charges.

9)    Upon termination of this agreement, agrees to return the above described merchandise to in the same condition less normal wear and tear.   acknowledges that the returned rented merchandise is subject to final inspection by the staff.  Further charges to may be incurred as a result of final inspection.  All such charges will be due and payable upon notification to .  ___

10)    Rentals must be returned before the day of renewal in order not to be charged for the next month.  There is no grace period.

11)     is responsible for broken strings, corks, instrument parts and reeds.

12)    This document contains the entire agreement of the parties concerning this rental and the rented merchandise.  Any oral representation or modification of this agreement shall be of no force and affect unless contained in a subsequent written notification signed by both parties.  Renter's signature on this document certifies that all statements below are complete and authorizes to make any reasonable effort to verify the information given.  All information no this document and all related credit reporting information will be kept strictly confidential.