Credit Application and Agreement

BoomCo Inc Master Rental Agreement

This Master Rental Agreement (hereinafter “Agreement”) is made by and between BOOMCO Inc, (hereinafter “Lessor” “Dealer”), a Tennessee corporation, having its principal place of business at 105 Gass Dr. Greeneville, TN 37745 and all customers who take possession of the equipment (hereinafter “Lessee”).

1. PHYSICAL CONDITION OF RENTAL ITEM(S) You acknowledge that prior to taking the rental item(s), you examined it, saw it in operation (if appropriate), and are aware of its condition and that it is in good condition except for any defect noted on this contract. It is your responsibility to return the rented item(s) to BoomCO in the same condition, except for ordinary wear and tear.
2. ACCEPTANCE Lessee shall inspect the equipment immediately upon delivery. Acceptance of Equipment constitutes Lessee’s acknowledgment that it has inspected the equipment and it is in good, safe, serviceable condition, and fit for the use intended. If the equipment thereafter proves defects or unfit for use because of accident or otherwise, Lessee’s sole remedy is to return the equipment and terminate this agreement. Lessee shall pay all rental and other amounts due prior to termination, which shall never be less than rent due for the minimum rental period.
3. USE OF THE ITEM(S) You agree that you are satisfied with the instruction given by BoomCO in the proper and safe manner of using the item(s) or that you are so familiar and told Dealer that you were. You further agree that the item(s) will be used only at the address designated and only for the purpose for which the item(s) was manufactured and intended. Subleasing or improper use is prohibited. You have read and understood all the manuals, written operating instructions and warnings as supplied for the equipment.
4. INDEMNIFICATION Lessee shall defend, indemnify, and hold harmless the lessor and its officers, directors, shareholders, partners, members, managers, employees, affiliates, subcontractors, representatives, agents and assigns (the “indemnitees”) from any and all actions, causes of action, claims, suits, demands, investigations, obligations, judgements, losses, costs, liabilities, damages, fines, penalties and expenses, including attorney’s fees, which are incurred by, accrued, asserted, made, or brought against, or the Lessee’s acceptance, possession, transport, use, operation, control, maintenance, and/or repair of the equipment, whether or not the same arises from damage to property (real or personal), injury or death to any persons (including but not limited to lessee’s employees, agents, and representatives), failure to comply with applicable laws, regulations and ordinances, the equipment condition, the loss of use or seizure of the equipment, or otherwise, even if the same are caused in whole or in part by the indemnitees’ own negligence. Lessee’s obligation to indemnify the indemnitees shall survive the termination of this Agreement.
5. RESPONSIBILITY FOR USE AND DISCLAIMER OF WARRANTIES You are responsible for the use of the rented item(s). You assume all risk inherent in the operation and use of the item(s) and agree to assume the entire responsibility for the defense of, and to pay, indemnify and hold BoomCo harmless from, and hereby release from, any and all claims for damage to property or bodily injury (including death) resulting from the use, operation or possession of the item(s), whether or not it be claimed or found that such damage or injury resulted in whole or in part from Dealer’s negligence, from the defective condition of the item(s) or from any cause. YOU AGREE THAT NO WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, HAVE BEEN MADE IN CONNECTION WITH THE EQUIPMENT RENTED.
6. RESPONSIBILITY FOR EQUIPMENT From the time the item(s) is rented out until it is returned, you are responsible for it. If the item(s) is lost, stolen or damaged under any circumstance while rented, regardless of fault, you shall be responsible for all charges, including labor costs, to replace or repair the item(s). If the item(s) is not returned clean, a cleaning charge will be imposed. Failure to return rented property under the terms of this contract may subject the Renter to criminal prosecution.
7. ITEM(S) FAILURE You agree immediately to discontinue the attempt to use the rented item(s) should it at any time become unsafe or in a state of disrepair and will immediately (one hour or less) notify Dealer of the facts. The dealer agrees, in its discretion, to make the item(s) operable within a reasonable time, or provide you with a like item if available, or make a like item available at another time, or adjust the rental charges. This provision does not relieve you of the obligations imposed by other paragraphs, including 4 and 6. In all events, the Dealer shall not be responsible for any injury or damage, including consequential damage, resulting from failure or defect of a rented item(s).
8. RETURN OF ITEM(S) The rented item(s) is Dealer’s property and is rented to you subject to this contract for rental charges and for the period noted on the reverse side. If you desire to extend the term of this rental beyond the time and date specified on the reverse side under “Due”, you must immediately notify Dealer to obtain our approval, the terms for such extension and a modification of this contract (see Paragraph 11). If this agreement has not been extended and you fail to return the item(s) when due in; Dealer, to enforce its property ownership of the item(s) and to protect its interest under this contract, may retake the item(s) at any time and, to do so, Dealer or its representatives may enter your property and you hereby waive any right of action against Dealer for such entry and retaking. In addition, you acknowledge that the failure to return rented item(s) within the contracted time and the sale or concealment of returned item(s) are prohibited, and that such action may constitute a crime. BoomCO, in addition to any other action we may take, may notify the authorities and take other action, including the filing of criminal complaints, subjecting you to prosecution.
9. CHARGES AND PAYMENTS Time is money. You are responsible for rental charges from the time the item(s) is “Out” as specified on the reverse side until it is returned, and other charges hereunder. Return the item(s) promptly, clean and in good condition. You and your representative, agent, or principal shall be responsible for and shall pay Dealer all charges hereunder. All charges are due upon return if the item(s) and on demand. If the rental charges are charged to someone other than the Renter, the Renter represents he/she is the agent of such party and has the right to charge this rental; the Renter nevertheless will remain liable for the charges and for the other obligations and responsibilities of the Renter hereunder. If rental charges are not paid within 10 days of their due date, BoomCO, at it discretion, may recalculate all charges on a daily rental rate basis.
10. COLLECTION COSTS You agree to pay attorney fees, collection fees, court costs and any other expense incurred in collecting any charges under this agreement, in retaking the rental item(s) or otherwise in enforcing the terms of this contract.
11. MODIFICATION OF CONTRACT This paper represents our entire contract, and there are no collateral, oral, or other agreements outstanding. None of Dealer’s rights may be changed and no extension of the term of this contract may be made except in writing and signed by Dealer and made a part of this contract.
12. CUSTOMER’S GENERAL RESPONSIBILITY: By entering into a BoomCO Inc, Rental Agreement (Agreement) Customer acknowledges receipt, understanding and responsibilities as stated on the front and reverse side of the Agreement. You have agreed to be responsible for any loss or damage to the Equipment, and for its return in the same condition in which received, except for normal wear and tear. This responsibility is limited to the full value of the Equipment at the time it is lost or damaged, including but not limited to BoomCO’s expenses, such as, loss of use, appraisal fees or recovery costs. If the Customer is deemed responsible for damage to the Equipment, the equipment may either be repaired by BoomCO or a company of BoomCOs choosing. The cost of labor and parts of such repairs will be the prevailing shop/list rates in effect at the time of repair. If an outside source is used, then that cost will be applied to the repair billing.
13. DISASTER, THEFT & VANDALISM (DTV): All customers renting equipment from BoomCO Inc, are required to maintain physical damage insurance or accept the Disaster, Theft & Vandalism (DTV) Protection Plan. Any customer not providing a Certificate of Insurance with BoomCO Inc. listed as additional insured will be charged an amount for the DTV up to 15% of the gross rental amount. The DTV is not insurance; however, it does provide limited protection against accidental loss or damage to rented equipment, owned by BoomCO Inc. This plan does not cover equipment licensed for highway or public roadway use or equipment obtained from other companies and rented to the Customer. In the event of a covered occurrence (defined below), the Customer is responsible for the resulting loss up to the amount of $1,000.00 or an amount equal to three times the four-week rental, per occurrence for each separate piece of equipment rented. COVERED OCCURRENCES: The following are considered covered occurrences: a) Theft of equipment from Customer, reasonable precautions were taken to protect and secure the rented equipment, and a police report was filed. b) Damage to equipment caused by vandalism not resulting from Customer’s negligence provided a police report was filed. c) Damage to equipment caused by natural disasters such as floods, earthquakes, wildfires, or other natural disasters. EXCLUSIONS FROM COVERAGE: a) Theft of accessories, such as air hoses, blades, tires, electric cords, tools and other similar items. b) Damage caused by improper use, failure to secure equipment during transportation or exceeding or overloading the rated capacity of the equipment. c) Damage to motors or other electrical devices caused by surges in electrical current. d) Damage resulting from misuse, abuse or failure to maintain proper oil, fuel, hydraulic, coolant or pressure levels, lack of lubrication or other normal servicing of the equipment. e) Damage to tires and tubes caused by blowouts, bruises, cuts, road hazards or other causes inherent in the use of the equipment. f) Loss or damage caused by use or possession of the equipment in violation of any terms of the rental agreement, or any law, ordinance or regulation. g) Loss or damage caused by failure to keep the equipment in a secure area for up to a period of 48 hours after unit is called off rent. h) Loss or damage caused by intentional abuse, malicious mischief or neglect. i) Damage to, or loss of, equipment in the possession of a third party.
14. WAIVER EXCEPTION: Even if the Customer has accepted the Disaster, Theft & Vandalism (DTV), Customer will still be liable for all resulting loss or damage to the equipment and expense of BoomCO, if it results from the gross negligence of Customer which includes, but is in no way limited to the use or operation of the equipment in a reckless or abusive manner, or intentional damage to the Equipment by Customer or with Customer’s permission.
15. SUBROGATION: In the event of any loss or damage to the Equipment, BoomCO will subrogate with respect to any right of the Customer to recover against any person, firm, corporation or other entity. The customer will execute and deliver whatever instruments and papers are required and do whatever else is necessary to secure such rights. Customer will cooperate fully with BoomCO and/or its insured(s) in the prosecution of those rights and will neither take nor permit nor suffer any action that may prejudice BoomCO’s rights with respect thereto.
16. INSURANCE: Customer shall maintain in full force and effect during the term of this Agreement separate General liability and Automobile Liability insurance policies with coverage limits for bodily injury, including death, personal injury and/or property damage that will respond as primary coverage for Customer's liability and all obligations outlined under this Agreement. In addition to the foregoing, Customer shall maintain Property Insurance in an amount adequate to cover any loss and or damage to the equipment, up to full replacement cost. Customer shall furnish BoomCo Inc. with a Certificate of Insurance evidencing the foregoing insurance requirements and naming BoomCo Inc. as additional insured. Require at least 1M/2M limits naming BoomCo as AI with WOS and PNC.