Rent to Own Shelters

The Term of this agreement is for one month. The consumer may renew this agreement for consecutive one-month terms by making rental payments in advance for each additional month the consumer wishes to rent the property.

 

The cash price of the leased property, that is, the price at which the Lessor would offer to sell the personal property to the Lessee for cash on the date of agreement.

 

The consumer is responsible for maintaining the property during the lease. Consumer shall not permit the leased property to be altered for the construction of shelves, the addition of equipment and accessories, or the placing of signs thereon, and shall not permit the leased property to be tied to or otherwise affixed to any real estate in such a manner that the same cannot be removed without damage to the leased property. The Consumer will not own the property until the Consumer has made all payments necessary to acquire ownership of the property. Consumer is responsible for the fair market value of the property if it is lost, stolen, damaged, or destroyed.

 

The first payment is due on the date of delivery, and each succeeding payment is due on the 15th of each month for a total of 36 months.

 

If Consumer makes a total of 36 monthly rental payments and otherwise complies with this agreement, Consumer will acquire ownership of the rented property. The total of scheduled payments, that is, the total dollar amount of lease payments you will have to make to acquire ownership.

 

At any time after the Consumer has made the first rental payment, the Consumer may purchase the rented property for the cash price less 50% of all the rental payments the Consumer has made (exclusive of taxes and other charges).

 

At the time of the execution of this agreement, the Consumer shall pay to Lessor a security deposit to be held by Lessor as security for the performance of all terms of this agreement, including, but not limited to, the payment of a delivery charge. Such deposit (or such part thereof as has not been applied to remedy defaults of Consumer) shall be refunded, without interest, only on the expiration of the term of this lease, if all of the obligations of the Consumer have been performed or discharged and the Consumer exercises the option to purchase. Lessor may, from time to time, use the proceeds of the deposits to apply towards any breach by the Consumer of the terms of this lease, and in the event of such application, upon demand of the Lessor, the Consumer shall restore the deposit to its original amount.

 

The consumer may terminate this agreement without penalty by voluntarily surrendering the rented property upon the expiration of any lease term. In that event, the Consumer agrees to return the rented property to Lessor in the same condition it was on this date, normal wear and tear excepted, and the Lessor will pick it up.

 

Consumer grants Lessor a security interest in all goods within the rental unit and permission to enter the property and remove any obstacles to the rental unit at the time of any repossession or surrender of the unit due to the consumer's default in performing the terms of this agreement.

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For Additional information, 515-971-9055