Terms and Conditions

Billing and Payment Processing Cycle

All service plans due under this agreement shall be paid monthly, or in full, in advance to the office of the lessor. All overdue payments shall bear interest at the rate of 1.63% per month (19.56% per annum) on the unpaid balance without prejudice to the lessor's rights, and in particular without prejudice to the lessor's right hereinafter stipulated to terminate this agreement for non-payment of rental.

Equipment Storage

The equipment shall be located in the province or territory and at the address designated by the lessee at the time of execution of this agreement and shall not be removed from the said province, territory or from the designated address therein without the lessor's prior written consent.

Equipment Use

Lessor shall comply with all laws in anywise relating to the use, operation or maintenance of the equipment. If lessor supplies lessee with labels stating that the equipment is owned by lessor, lessee shall affix and keep the same upon a prominent place on the equipment.
Minimum operator age shall be 21 years.

Equipment Acceptance

Lessee acknowledges that he has fully inspected and accepted said equipment in good condition and repair. The Lessee further acknowledges, the lessee is familiar with such equipment and the operation thereof and has inspected and accepted said equipment in good operating condition.

Inspection

Lessor shall at any and all times during business hours have the right to enter into and upon the premises where the equipment may be located for the purpose of inspecting the same or observing its use. Lessee shall give lessor immediate notice of any attachment or other judicial process which affects or may affect any item of equipment and shall whenever requested by lessor advise lessor the exact location of the equipment.

Loss, Damage, and Repairs

Lessee hereby assumes and shall bear the risk of loss and damage to the equipment from any and every cause whatsoever and shall keep and maintain the equipment in good repair, condition and working order. No loss or damage to the equipment or any part thereof shall impair any obligation of lessee under this lease which shall continue in full force and effect. In the event of loss or damage of any kind whatsoever to any item of equipment, lessee at the option of lessor, shall place the same in good repair, condition and working order or alternatively, replace damaged or lost equipment at today's new market value or repair the damaged equipment, the cost of such repairs to be borne by the lessee together with interest on the outstanding balance.

Default and Surrender

If lessee with regard to any item or items of equipment fails to pay any rent or other amount herein provided within ten (10) days after the same is due and payable, or if lessee with regard to any item or items of equipment fails to observe, keep or perform any other provision of this lease required to be observed, kept or performed by lessee, lessor shall have the right at its sole discretion to exercise any one or more of the following remedies:
(a) To declare the entire amount of rent hereunder immediately due and payable as to any or all items of equipment.
(b) To sue for and recover all rents, and other payments then accrued or thereafter accruing, with respect to any or all items of equipment.
(c) To take possession of any or all items of equipment without demand or notice, wherever same may be located without any court order or other process of law. Lessee hereby waives any and all damages occasioned by such taking of possession. Any said taking of possession shall not constitute a termination of this lease as to any or all items or equipment unless lessor expressly so notifies lessee in writing.
(d) To terminate this lease as to any or all items or equipment.
(e) To pursue any other remedy at law or in equity. Notwithstanding any said repossession, or any other action which lessor may take, lessee shall be and remain liable for the full performance of all obligations on the part of the lessee to be performed under this lease. All such remedies are cumulative, and may be exercised concurrently or separately.
Upon the expiration or earlier termination of this lease, lessee shall return the equipment to lessor in good repair, condition and working order, ordinary wear and tear resulting from proper use thereof alone excepted.

Alterations

Without the prior written consent of lessor, lessee shall not make any alterations, additions or improvements to the equipment. All additions and improvements of whatsoever kind or nature made to the equipment shall belong to and become the property of lessor upon the expiration or earlier termination of this lease.

The lessee will not alter, remove, disfigure or in anywise change any insignia or lettering upon any of the said equipment. The lessee shall not tamper with: Odometers, Sensors or Hour meters on units equipped with same. If these meters show signs of tampering or disconnecting the customer agrees to the following charges at the option of the lessor.

Insurance

The lessee shall at the lessee's own expense maintain liability, theft, fire and any other insurance required to indemnify the lessor against any loss to or of the equipment to the extent of new replacement value at date of replacement or cash equivalent, such insurance to cover the insurable interest of the lessor in said equipment. This insurance shall be kept in full force and effect from the time the equipment is leased out by the lessee or is shipped by the lessor until it is returned by the lessee to the lessor during the lessor's normal business hours with lessor's acknowledgement. Customer will, on demand, furnish Ontario Building Experts with a Certificate of Insurance evidencing the applicable coverages.

Such certificate(s) shall include liability limits of not less than $5,000,000 per occurrence and shall be endorsed to provide that the applicable insurance policies may not be cancelled or materially modified except on thirty (30) days prior written notice to Ontario Building Experts.

Acknowledgment and Disclosure

The lessor shall disclose fully and accurately the identity and address of those who will be using the equipment. Lessee acknowledges and understands that the Agreement contained herein is and shall become part of every Rental Agreement, oral or written, between the Lessee and Lessor and will be retained by the Lessor as evidence of such Agreement for all other rentals by the Lessee.

Personal Property

The equipment is, and shall at all times be and remain, personal property notwithstanding that the equipment or any part thereof may now be, or hereafter become, in any manner affixed or attached to, or imbedded in, or permanently resting upon, real property or any building thereof, or attached in any manner to what is permanent as by means of cement, plaster, nails, bolts, screws or otherwise. The lessee acknowledges that any property of the lessor that is affixed or attached to any other property is solely for the better use of the lessor's property.

Leins

The lessee acknowledges that the lessor has a right to file a lien, under the appropriate legislation against the owner of the land where the equipment was used should rental payments not be forthcoming.