TERMINATION: You may terminate this agreement without penalty at any
time by returning the property or allowing us to pick it up. This agreement
will terminate at the end of the rental term if you do not renew the agreement
for the additional term. This agreement will automatically terminate if you
breach any provision of this agreement. Upon termination of this agreement, we
are entitled to immediate return of our property. If you retain the property
after this agreement terminates, you remain liable for rent, prorated and
charged monthly. You can terminate this
agreement at any time by returning the instrument to us in good condition. All
original issued accessories such as mouthpieces, drum pads, sticks, instrument
parts, and bow must be returned with the instrument or you must pay for
replacing the missing items.
LOCATION OF THE PROPERTY: You agree to
keep the property at your residence. You agree to notify us of any change in
your address and to obtain our consent before you move the property out of
You may not pawn, sell, or otherwise dispose of the property. If you do, this Agreement is terminated, and
you must pay us the remaining cash price of the instrument (original cash price
minus the applicable rent you have already paid, plus tax).
BILLING AND CHANGE OF
ADDRESS: You will receive a payment coupon book at the address you have provided.
You must inform us of any changes in your contact information. No additional billing statements will be
provided. All rental payments are due in advance. Any time period less than
a full month will be billed as a full month. There are no refunds on rental
payments. You must not move the instrument from the address shown in
this agreement without our written consent.
MAINTENANCE AND REPAIR
COVERAGE TERMS AND CONDITIONS: We will
maintain the property in good working order during the initial rental term and
any renewal terms. All repairs must be performed by technicians of Jim’s
Music. We will not be responsible for
costs or results of any repairs done by others. This coverage does not cover
deterioration of the instrument appearance from scratches, dents, surface wear,
etc. (which do not affect the performance of the instrument), nor does it apply
to broken reeds or strings. While in our repair facility, if you notify us
beforehand we will provide you with a loaner subject to Availability. You are
responsible for all repairs (with the exception of normal wear and tear) that
occur to the rented instrument as a result of negligence or misuse. Should the
instrument be returned and damages have been sustained due to misuse and
neglect, we reserve the right to charge you for these damages. Missing parts
and accessories (drumsticks, mouthpieces, cleaning rods) will be charged back
at 100% of retail price. Maintenance and repair premiums are not refundable
and do not apply to purchase. Repair coverage will be considered
"Not in Force" when payment lapses beyond the ten day grace period.
AGAINST THEFT AND DAMAGE – STUDENT INSTRUMENT CONTRACTS ONLY: If
the rented instrument is stolen or accidentally damaged before all of the
payments under this agreement are due, we will replace it with an instrument of
equal age, value and quality as determined by us, provided all of your payments
are current. Stolen instruments must be reported to the police immediately and
a police report is required to claim damages of theft.
PAYMENT BY CREDIT / DEBIT CARD / BANK
DRAFT. If paying regular payments by
credit/debit card/autodraft, you must notify Jim’s Music in writing if 1) you
wish to cancel this payment option, or 2) the credit/debit card/bank account
listed on the reverse side is cancelled or rendered unusable for any reason. I (we) hereby authorize Jim’s Music (JK Music, Inc.)
to charge my (our) credit card as indicated on the Rental/Purchase Agreement. I (we) agree to have available funds in my
(our) account on the designated date to effect this transfer. I (we) agree to
pay any applicable fees for this service as disclosed in the Rental/Purchase
Agreement, including a $25 NSF Fee. This
authority will remain in effect until I (or either of us) notify Jim’s Music
(JK Music, Inc.) in writing at least one week prior to the next scheduled
transaction date. I (we) acknowledge
that the origination of automatic payments to my (our) credit card must comply
with the provisions of U.S. law.
EXCHANGE OPTIONS: STUDENT
INSTRUMENT CONTRACTS ONLY.
You can exchange the instrument rented under
this Agreement for any other instrument in our Student Rental plan at any time
with your child's teacher's approval, per the following guidelines:
Stringed Instruments. Instruments ¾ size or smaller may be exchanged for a larger like
instrument (violins and violas are interchangeable) up to ¾ size with all net
payments (cumulative total payments less cumulative 1) cost of lease services,
2) M&R, and 3) sales tax, you have made applying toward the cash price of
the larger sized instrument. Instruments ¾ size or smaller may be exchanged for
full size like instruments with 100% of all net payments you have made applying
toward the cash price of the full size instrument. Full size instruments
include 4/4 violins, 15”-16” violas, and 4/4 cello.
Other Student Rental Purchase Plan
Instruments. During the first 90 days of this contract you may exchange your
instrument for another in our Student Instrument Rental pool, with all net
payments you have made applying toward the cash price of the next instrument.
After the initial 90 day period, you may exchange your instrument for another
instrument in our Student Instrument Rental Pool with 75% of all net payments
applying toward the cash price of the next instrument.
cannot exceed the cash value of the acquired instrument.
Unless otherwise stated, 1)
payment option for future payments and 2) M&R coverage selected in initial
contract will be transferred to new instrument.
TITLE AND RIGHT OF POSSESION: The instrument shall remain with Jim's Music until total
payments equal to the value (plus sales tax) of the instrument are made. At
this time ownership will be transferred to you. If rental payments are not paid
when due, Jim's Music shall have the right to take possession of the instrument
with or without legal process.
PAST DUE ACCOUNTS
Only payments made on time apply
to the purchase of the instrument. Any accounts going beyond the ten day grace
period will be assessed a late charge of 2% per month ($10.00 minimum). Bad
checks will be charged $25.00 per bank deposit. This contract is not
subject to bankruptcy as the money collected is rent. If you fail to make a
payment within 30 days of the payment due date, or if you fail to observe any
other portion of this agreement, you will be in default. Upon such default, and
after any notice required by law is given, Jim’s Music will be entitled to any
remedies allowed by law, including repossession of the instrument. Should Jim’s
Music be forced to resort to the use of a collection agency or any attorney to
enforce this agreement, you will be responsible for all reasonable costs of
collection, including attorney’s fees. In the event that Jim's Music is
compelled to incur any expense, including attorney fees or collection agency
fees in maintaining or defending any action or proceeding instituted by reason
of any default of the signer, such expenses shall be the responsibility of the signer.
RETURN PROCEDURES: Contact us by
mail or telephone to request a return authorization. Then return the instrument to the music
instructor or us, by mail or personal delivery.
To receive credit for a return, do not return the instrument to anyone without
contacting us and getting a return authorization.
You hereby consent to Jim’s Music obtaining a
personal credit report on you, at its option. You may cancel this agreement
without penalty or obligations within 3 days from the date of this agreement.
If you cancel, any payments you have made will be returned to you, providing
the instrument has been returned to Jim’s Music, Inc in substantially as good
condition as when received. A notice of cancellation form is available, if requested.