Rental Lease Agreement

 

EQUIPMENT LEASE AGREEMENT

https://www.sec.gov/Archives/edgar/data/935066/000119312504050784/dex1056.htm

Parties Involved:

  • Lessor: Boundless Robotics, a Massachusetts Corporation, with its principal place of business at 12 Channel St, Suite 202, Boston, MA 02210.
  • Lessee: [Lessee's Full Legal Name and Address to be filled in]

Description of Equipment:

  • The "Annaboto Growing System," including the Annaboto DWC Machine, Lamp, Lamp Legs, Shade, and relevant accessories.

Lease Terms:

  • Commencement Date: The lease term begins upon delivery of the product and continues until cancellation. Cancellation can be initiated by contacting support@boundlessrobotics.com and returning the equipment. Failure to cancel will result in continued billing.
  • Rentals: A startup fee of $300, covering shipping and the cost of non-returnable accessories. A recurring monthly fee of $75 will also be charged.
  • Interim Rentals: None.

Security Deposit:

  • No traditional security deposit is required. However, a valid credit card must be kept on file for billing purposes. Failure to maintain valid payment information may result in system deactivation and potential legal action, including pursuit in small claims court.

Insurance:

  • [Details about insurance requirements, if any, for the Lessee to cover the equipment during the lease term.]

Maintenance and Use:

  • The Lessee is required to maintain the equipment according to the provided user guide. The system must be used legally and in compliance with local laws.

Default and Remedies:

  • In case of default, Boundless Robotics will bill the Lessee for the full cost of the system according to the buyout terms. If payment cannot be obtained, legal action, including pursuit in small claims court, may be initiated. Additional protective language may include remedies such as equipment repossession or termination of the lease agreement under specific conditions.
  • In addition, if payment for any outstanding balance cannot be obtained within [number of days] days of the due date, Boundless Robotics may initiate legal action, including pursuit in small claims court, and may exercise additional protective measures, such as equipment repossession or termination of the lease agreement, at its sole discretion and under specific conditions.

Jurisdiction and Governing Laws:

  • This Agreement shall be governed by and construed in accordance with the laws of the State of Massachusetts.

Miscellaneous Provisions:

  • [Include any additional clauses specific to your business, such as confidentiality, dispute resolution methods, or equipment modification restrictions.]

Company-Specific Clauses:

  • [Any specific operational or business-related clauses that Boundless Robotics would like to include, such as clauses regarding subleasing, equipment upgrade options, or early termination fees.]