THE DOCUMENT SHOWN IS FOR INFORMATIONAL AND DISPLAY PURPOSES ONLY AND DOES NOT CONSTITUTE ANY AGREEMENTS MADE TO OR BY DOWNING SECURITY LLC.
DOWNING SECURITY LLC
PHANTOM X Security System
Camera Tower KITS
RENTAL AGREEMENT
Rental Agreement
This Rental Agreement (the "Agreement") is made and entered into as of [Date] by and between DOWNING SECURITY LLC, a Colorado based LLC with its principal place of business located at [ ], (the "Lessor"), and [Client Name], a [State] [Entity Type], with its principal place of business located at [Client Address] (the "Lessee").
1. Equipment Rental X________
1.1 Equipment: Lessor agrees to rent to Lessee, and Lessee agrees to rent from Lessor, the following equipment (the "Equipment"):
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2. Rental Period: The rental period shall commence on a month to month basis, first pending remittance of payment of , beginning on the first day of each month and shall continue until the end of the last day of each month. X________
2.1 Rental Rate: Lessee shall pay to Lessor a rental fee of [$xxx] per month for the use of the Equipment. X________
3. Payment Terms: Lessee shall pay the rental fee to Lessor on or before the first day of each month during the rental period. X________
3.1 Late Fees: If Lessee fails to make any payment when due, a late fee of %1 of the unpaid amount shall accrue per day until paid in full. X_________
4. Use of Equipment X________
Lessee shall use the Equipment solely for the purpose of conducting security surveillance of personal private property in accordance with all applicable Federal, State and local laws, rules, and regulations.
Lessee agrees to use the Equipment solely for the purposes specified in this Agreement.
In addition to this Agreement, Lessee agrees to use Equipment in accordance with Equipment user's Manual.
Lessee acknowledges having read and been given a copy of Equipment user's manual.
Lessee agrees to indemnify, defend, and hold harmless Lessor, its officers, directors, employees, agents, and affiliates from and against any and all claims, damages, losses, liabilities, costs, and expenses, including attorneys’ fees, arising out of or in connection with:
Lessee’s use or misuse of the Equipment;
Lessee’s failure to comply with any term or condition of this Agreement;
Lessee’s violation of any applicable Federal, State or local law, rule, or regulation;
Any injury to or death of any person or damage to any property caused by Lessee, its agents, employees, or invitees; and
Any claim or demand made by any third party arising out of or in connection with the Equipment.
Lessee agrees not to use the Equipment for any illegal or unauthorized purpose.
Lessee shall indemnify and hold harmless Lessor from and against any and all claims, damages, losses, liabilities, costs, and expenses arising from Lessee's use, misuse or abuse of the Equipment.
Lessee acknowledges receiving and reading "Camera Tower KITS USER'S MANUAL"
4.1 Authorized Users X________
The Equipment shall only be used by Lessee or its authorized representatives. Lessee shall be solely responsible for ensuring that only authorized individuals use the Equipment.
Any unauthorized use of the Equipment shall be a material breach of this Agreement.
Lessee shall not sublease, rent, sell, or otherwise transfer possession of the Equipment, including access to monitoring software/hardware, video/audio footage or streams, ALARM controls, HDDs, camera NVRs, camera DVRs, system devices, mobile apps, websites, usernames, passwords, or any other software/hardware or devices related to Equipment, in any way, to any third party without the prior written consent of Lessor.
Any unauthorized subleasing, renting or selling of the Equipment shall be a material breach of this RENTAL AGREEMENT.
4.2 Use of Equipment - Third Party X________
Lessee shall be solely responsible for the actions of any third party who uses the Equipment, whether authorized or unauthorized.
Lessee agrees to indemnify and hold harmless Lessor from and against any and all claims, damages, losses, liabilities, costs, and expenses arising from any use or misuse of Equipment by Lessee or any third party.
5. Damage to Equipment X________
Lessee shall be responsible for any and all damage to the Equipment, whether caused by, Lessee or a third party, negligence, abuse, misuse, accident, willful misconduct, theft, vandalism, fire, flood, power outages, seismic activity, weather events, environmental hazards, wild or domesticated animals, pests/insects, acts of war or terrorism, civil disturbances, public health emergencies, acts of God, unauthorized access, or any other cause except for normal wear and tear.
Lessee shall promptly reimburse Lessor for the cost of repair or replacement including labor costs incurred for repairs, maintenance, or other services required under this lease, at a rate of $75.00 per hour.
Lessee shall notify promptly Lessor of any and all damages to Equipment excluding normal wear and tear.
Lessee shall be responsible for any and all costs to replace the Equipment in any instances of theft.
Lessee shall promptly report any instance of theft of Equipment to law enforcement authorities and provide Lessor with a copy of the police report.
Lessee shall notify Lessor promptly of any and all instances of theft of Equipment.
Lessee shall indemnify and hold harmless Lessor from and against any and all claims, damages, losses, liabilities, costs, and expenses arising from any instances of theft of Equipment or ANY other crimes.
6. Maintenance, Repair and Replacement: X__________ Lessor shall be responsible for the routine maintenance and cleaning of the Equipment. Lessor shall be promptly responsible for major repairs and replacements directly related to equipment malfunctions including: non-operable cameras, strobe lights, floodlights, light controllers, PA speakers, transmitters, receivers, PoE switches, NVRs, wifi access points or any faulty wiring or locks/locking devices.
Lessee acknowledges that Lessor, DOWNING SECURITY LLC or its employees or affiliates, may access, monitor or maintain the Equipment from third party locations. Such access, monitoring or maintenance may include, accessing, monitoring or updating video/audio footage/streams, ALARM controls, HDDs, camera NVRs, camera DVRs, monitoring software/hardware, mobile apps, system DEVICES, websites, usernames, passwords, or any other software/hardware or devices related to Equipment.
Lessee acknowledges by signing this RENTAL AGREEMENT that all equipment rented by Lessee under this RENTAL AGREEMENT is and was in good and complete condition and working order upon signing this RENTAL AGREEMENT and receiving said equipment.
Lessee acknowledges receiving and signing an "EQUIPMENT CONDITION INSPECTION CHECKLIST" for any equipment rented under this RENTAL AGREEMENT.
Lessee must maintain Equipment in good and complete condition and working order. Failing to maintain Equipment in good and complete condition and working order is a breach of contract and this RENTAL AGREEMENT.
7. Insurance: X__________ Lessee shall maintain comprehensive insurance coverage on the Equipment, including property damage and liability coverage, with limits acceptable to Lessor.
Lessee shall name Lessor as an additional insured on the policy. Lessee will provide policy information $35,000 minimum liability for property damage
8. Return of Equipment: X________
Upon termination of this Agreement, Lessee shall promptly return the Equipment to Lessor in good and complete condition and working order, ordinary wear and tear excepted.
8.1 Right to Reposess X________
Lessor may reposess Equipment.
9. Cybersecurity Risks X________
Lessor shall not be liable for any loss, damage, harm, or costs whether direct or indirect, arising from any cybersecurity threats or attacks, including but not limited to, cyberattacks, hacking attempts, phishing attacks, social engineering attacks, cryptojacking activity, data breaches, ransom-ware, malware attacks, or denial-of-service attacks, that may occur as a result of the use of the Equipment. Lessee acknowledges and agrees that it is solely responsible for implementing appropriate cybersecurity measures to protect its systems and data from such threats, attacks or hazards.
10. Physical Hazards X________
Lessee acknowledges that the Equipment may pose or create certain inherent or unintended physical hazards, including but not limited to, the risk of tipping over, electric shock, blocking hazards, crush hazards, and trip hazards.
Lessor shall not be liable for any injury, damage, cost or loss caused to Lessee or any third party arising from such physical hazards.
Lessee shall be solely responsible for taking all necessary precautions to avoid hazards, mitigate risks and protect personnel and property.
Lessor shall not be liable for any injury or damage caused by tripping or falling over or into/on the Equipment.
Lessee agrees to use Equipment at Lessee's own risk.
11. Mental/Emotional damage X________
Lessee shall be responsible for any and all mental and/or emotional damages caused to Lessee, Lessee's authorized representatives or any third party, or claims thereof, regarding or arsing from any use, misuse or interaction with the Equipment during the terms outlined in this agreement.
12. Property and Vehicle Damages X________
Lessor shall not be liable for any damage to any property or vehicles, commercially or privately owned, whether owned by Lessee or a third party, that may occur as a result of the use or operation of the Equipment.
Lessee shall be solely responsible for any such damage and shall indemnify and hold harmless Lessor from and against any and all claims, damages, losses, liabilities, costs, and expenses arising therefrom.
13. Seizure of Equipment by Law Enforcement X________
Lessee acknowledges that there may be instances in which Equipment may inadvertently record or stream pictures, video(s), audio files or other media that may contain evidence(s) of crime or other instances or scenarios of interest to law enforcement. Lessee acknowledges that law enforcement may seize Equipment in such instances, with or without notice or warrant, and Lessor is NOT responsible for ANY claims, damages, losses, liabilities, costs or expenses arising from such instances of seizures by law enforcement.
Lessee will notify Lessor promptly of any seizures of any Equipment by law enforcement.
Lessee acknowledges that Lessor, DOWNING SECURITY LLC and its affiliates and employees, may, at their discretion and without notice, comply with requests made by law enforcement to retrieve audio or video footage or other media from any or all parts of Equipment.
The rental agreement, including all payment agreements, will remain in full force and effect regardless of any seizures of Equipment or retrieval of footage by law enforcement, or, any actions taken by any Federal, State or local authorities regarding the Lessee or the seizure of Equipment.
14. Lessor's Obligations
15. Equipment Condition: Lessor warrants that the Equipment is in good working order and condition at the commencement of the rental period.
16. Indemnification: Lessor shall indemnify and hold harmless Lessee from and against any and all claims, damages, losses, liabilities, costs, and expenses arising out of Lessor's negligence or breach of this Agreement.
17. Termination X________
17.1 Default: Either party may terminate this Agreement upon the other party's material breach of this Agreement. X________
17.2 Early Termination: Lessee may terminate this Agreement early by providing Lessor with 14 days written notice. In such case, Lessee shall pay a termination fee of $0. X________
18. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of Colorado.
19. Arbitration X________
Lessee agrees to arbitrate in Colorado.
20. Entire Agreement
This Agreement constitutes the entire agreement between the parties and supersedes all prior or contemporaneous communications, representations, or agreements, whether oral or written.
By signing below, you acknowledge that you have read, understood, and agree to the terms of this RENTAL AGREEMENT.
LESSOR Name: _______________________________________
LESSOR Signature:___________________________________
Date: ______________________________________________
LESSEE NAME: _______________________________________
LESSEE Signature:___________________________________
Date: ______________________________________________