GIFT OF MUSIC RENTALS – PARTNER AND REDUCED PROGRAM RENTAL AGREEMENT
By completing your rental online, you hereby agree to be bound by the following terms and conditions
Terms & Conditions of Program (“Lease-Purchase Agreement”)
Please Read Carefully
1. AGREEMENT: This is a month to month Lease-Purchase Agreement (“Rent to Own”) between the applicant (The “Renter”) and The Gift of Music Foundation (“The Foundation.”)
2. TITLE TO INSTRUMENT: The Foundation owns the instrument until renter makes all program and other payments required under this Agreement or exercises the early purchase option. If Renter declares bankruptcy, Foundation retains title, and the instrument must be returned immediately. Renter does not have the right to keep the instrument if all of the payments necessary for ownership are not made. Renter agrees not to loan, rent, sell, pawn, encumber, or otherwise use the instrument for any other purpose than band/orchestra class, practices, and performances by the student while the lease agreement is in effect.
3. TAKING OWNERSHIP OF THE INSTRUMENT: Each monthly program payment goes toward ownership of the instrument. However, if instrument is returned at any time during the lease, this agreement shall become null & void, and all payments toward ownership are forfeited.
Renter may take full ownership of the instrument by:
a Making all program payments over the term listed in your agreement
b Pay off remaining balance at any time during the contract.
4. INSTRUMENT CONDITION: At the beginning of each rental period, pictures of the instrument, from front and back, will be taken and kept on file The Foundation to assist in determining the condition of the instrument at the time of rental unless the instrument is in new condition.
5. REPAIRS: Basic repair and maintenance of the instrument will be provided at no additional cost via our RAMP (Repair and Maintenance Program) during the regular school year (where available, per RAMP terms & conditions.) Any repairs not covered by RAMP shall be the responsibility of the Renter, unless optional the Comprehensive Coverage Plan (CCP) is carried and in effect.
6. INSTRUMENT MAINTENANCE: Renter agrees to keep the instrument clean and in good working order for use by the student during the entire lease agreement. Renter agrees to take reasonable steps to protect the instrument from harm during use, transport, or storage.
7. COMPREHENSIVE COVERAGE PLAN (CCP): Optional Protection is available to cover damage, loss, and theft of the instrument. This is a voluntary insurance premium fee and does not go toward purchase. However, if Renter declines this coverage, renter agrees to be fully responsible and liable for “total cost to purchase” (less program payments made) in the event of theft, loss, or major damage up to the full Fair Market Value (FMV) of the instrument, even if by no fault of your own.
8. CHANGES IN INFORMATION: Renter agrees to notify The Foundation, within thirty (30) days, of any changes in school, address, or other contact or instrument location information while the lease agreement is effect.
9. EARLY TERMINATION: Renter may return the instrument and accessories at any time, in good playing condition and free of any damage, at which time this agreement shall become null and void. No refunds shall be given for any program fees paid, and renter understands that all program payments toward ownership are forfeited upon return as if it was a simple rental.
10. PAYMENT: Renter agrees to automatic monthly credit card charges as outlined below until instrument is either returned or paid in full. Renter agrees to maintain current credit or debit card information on file at all times and notify The Foundation of any changes in payment information.
11. DEFAULT: If Renter fails to make a rental payment within 10 days of the due date or fails to observe any other term in this Agreement, all of which are material, Renter will be in default and this Agreement terminates. If default occurs, and after Renters is given any notice required by law, The Foundation will be entitled to all legal remedies, including repossession of the instrument and any damages. Renter must pay for reasonable costs of collection and court costs. Upon default, all rental credit, if any, will be void, and renter will be liable for any amounts due and the immediate return of the instrument.
12. REINSTATEMENT: If Renter defaults on payment, this Agreement and any coverages expire. Renter may reinstate it without losing any rights previously acquired by making any past due payments to bring account current.
13. CREDIT AND COLLECTIONS. Renter agrees to allow The Foundation or our agents and assigns, including debt collectors, to make contact via telephone, text message or e-mail, directly or by using a dialer, automatic telephone dialing system, interactive voice recognition system, or artificial or prerecorded voice or message, at any number or e-mail you provided to us or that is on file (whether home, cell, or mobile service), even if there is a charge for the call or message service. Renter expressly agrees to be contacted via such automated calls. The Foundation may, after reasonable attempts to work with Renter to find an amicable solution, repossess (take back) the instrument from the school should this contract become severely past due for non-payment of program fees, or other breach of this contract.
14. TAXES: Applicable state and local taxes are in addition to listed prices and rates
GIFT OF MUSIC RENTALS – “GIFTED” PROGRAM RENTAL AGREEMENT
Program Terms & Conditions Please Read Carefully
1. This is a school year rental only contract between the applicant(s) in section 1. (The “renter”) and The Gift of Music Foundation (“The Foundation.”)
2. Renter does not have or develop an ownership interest in the instrument. Instrument remains property of the Foundation.
3. Renter may keep, use, and enjoy the instrument as long as you wish, if administration fees are paid and renewed as agreed and all other terms & conditions are met.
4. Basic repair and maintenance of the instrument will be provided at no additional cost via our RAMP (Repair and Maintenance Program) during the regular school year (where available.)
5. Renter agrees not to loan, rent, sell, pawn, or otherwise use the instrument for any other purpose than band/orchestra class, practices, and performances by the student.
6. Renter agrees to keep the instrument clean and in good working order for use by the student.
7. The Foundation is paying for the monthly rental rate of the instrument as our gift to you. Renter is responsible for a small administration fee as outlined below to show a commitment and partnership in education, and to help offset our expense to administer the free instrument program.
8. Administrative fee is due in advance as outlined below: Upon taking possession of the instrument and renewed at the start of each school year until instrument is returned. If paying by credit or debit card, you authorize us to automatically charge admin fees when due, unless and until the instrument is returned.
9. Renter may return the instrument and accessories at any time, in good working order (usual wear & tear expected) at which time this contact shall be considered completed. No refunds shall be given for any administration fees already paid.
10. The Foundation may, after reasonable attempts to work with the renter to find an amicable solution, “re-possess” the instrument should this contract become severely past due for non-payment of administrative fees, or other breach of this contract.
Rev. AUG 2018