Michelsen Music Repair & Supply

RENT TO OWN AGREEMENT

(For band and full-size string instruments)

1. This rental agreement is for a period of four (4) months, beginning upon the date of receipt of this agreement, the total rental fee for which is posted on the Michelsen Music website.  This rental agreement may be renewed at the request of the renter and subject to acceptance by Michelsen Music on a month to month basis thereafter.  The total rental for each one month renewal period shall be a figure equal to one half (1/2) of the figure provided herein for the initial four (4) month period, maintenance included.  This rental agreement shall be deemed to be automatically renewed for one (1) month period in the event that the instrument is not returned to Michelsen Music on the date of the expiration of hte preceding rental period.  Late payments are subject to a late fee.

2. PURCHASE OPTION. At such time as the rent paid to Michelsen Music equals the value of instrument rented, the renter has the option of purchasing the instrument for an additional price of $5.00. In addition, the renter, at his sole and exclusive option, may pay to Michelsen Music the difference between the rent paid at that time and the value of the instrument in question plus a fee of $5.00 and thereby purchase the instrument.

3. In return for the maintenance fee paid, Michelsen Music agrees to perform routine maintenance on the instrument at its place of business, excluding damage to the instrument caused by the renter's abuse, during the rental period. In event of damage or destruction due to fire or other casualty but not damage, destruction or loss due to vandalism, misplacement, or mysterious disappearance, Michelsen Music will repair or replace the instrument at its option.

4. If the renter elects to return the instrument, it shall be the responsibility of the renter to return the instrument to Michelsen Music at its place of business. NO REFUND WILL BE MADE FOR EARLY RETURNS.

5. Money collected is rent and not subject to bankruptcy. The instrument remains the property of Michelsen Music until purchased.