EQUIPMENT LEASE 

HIRE TO BUY OPTION

Equipment Lease – Hire To Buy Option (the “Agreement”)

 

BETWEEN: 

HOME BY FUNCTION PTY LTD (    ACN 627 450 006), a company organized and existing under the laws  of the NSW with its head office located at: 15/43-51 College Street, Gladesville NSW  2111 (the "Lessor")

 

AND: 

THE LESSEE (the individual or company that will tick and accept these terms and conditions) (theLessee")

 

The parties hereby agree as follows:


  1. LEASE TO BUY AGREEMENT
    • Lessor leases to Lessee, and Lessee hereby rents from Lessor all the machinery and equipment (hereinafter collectively called the “Equipment” and  individually an “item” of Equipment) described in Schedule “A”, upon the terms and  conditions set in this Lease.
    • All of the terms and conditions of this Lease shall govern the rights and obligations of Lessor and Lessee except as specifically modified in writing. Whenever reference is made herein to “this Lease”, it shall be deemed to include  each of the various schedules identifying all items of Equipment.
  2. TERM

The obligations under this Lease in respect of the  Equipment shall commence from the day the Lessee receives the Equipment and  shall continue for the

  • period of time as specified in the Schedule “A” (Lease Period). Upon the completion of the Lease Period (unless earlier terminated) the Equipment will become the property of the Lessee.
  1. RENTAL PAYMENTS
    • Lessee shall pay to Lessor as rent for the Equipment the Fees as set out in as specified in the Schedule “A” (Weekly Fees) for the duration of its respective Lease Period. 
  • The Lessee shall pay an initial bond payment of $00 to be deductible against the total amount required to buy the Equipment and default interest (if applicable). The Lessor shall be entitled to deduct from the bond any monies due to them by the Lessee under this agreement.
  • Lessee shall pay a delivery fee calculated on checkout. The Lessee is responsible for arranging clear access to the dwelling for the delivery and/or pick up the Equipment. If the Lessor is unable to gain access for whatever reason, the Lessee will pay all additional costs incurred by the Lessor for the re-delivery or re-pick up of the Equipment.
  • The Lessee must provide a credit/debit card authorization on the date of entering the lease. The authorization may be used to incidentals including but not  limited to the security bond and / or damage to the equipment leased. 
  1. TERMS AND CONDITIONS OF LEASE
    • The terms and conditions of this Lease annexed hereto as Schedule “B” are incorporated into this agreement and is an integral part of this Lease.
  2. GENERAL TERMS
    • This Lease shall be interpreted and construed in accordance with the laws of the New South Wales, Australia.

 

SCHEDULE A

EQUIPMENT

 

LEASED EQUIPMENT

 

Quantity

Equipment

Lease Period

Weekly Fee

1

Foldable Reformer - Aluminium

52 weeks

$49

1

Foldable Reformer - Timber Canadian Maple

42 weeks

$49

1

Bouncer

Included

 

1

Sitting Box

Included

 

 

SCHEDULE B

TERMS AND CONDITIONS


  1. Warranty Limits and Disclaimer

The terms and conditions set out in the Lease and Purchase and Agreement  regarding warranty limits and disclaimers with respect to the items of  Equipment respectively dealt with therein are incorporated herein by  reference as if herein set forth at length. Without limiting the generality of the  foregoing, THE LESSOR HEREBY DISCLAIMS ALL EXPRESS OR IMPLIED  WARRANTIES AND CONDITIONS (INCLUDING BUT NOT LIMITED TO  WARRANTIES AND CONDITIONS OF MERCHANTABILITY OR FITNESS FOR A  PARTICULAR PURPOSE), AND ANY AGREEMENTS, REPRESENTATIONS,  AFFIRMATIONS OR WARRANTIES, WHETHER ORAL OR WRITTEN, MADE BY  ANY AGENT, EMPLOYEE OR REPRESENTATIVE OF LESSOR, UNLESS  SPECIFICALLY SET FORTH IN THIS PARAGRAPH OR SPECIFICALLY  INCORPORATED HEREIN BY REFERENCE.

LESSOR’S LIABILITY FOR ANY DEFECT IN MATERIAL OR WORKMANSHIP OF THE  EQUIPMENT IS LIMITED TO THE WARRANTY SET FORTH IN THIS PARAGRAPH AND  LESSOR SHALL NOT BE LIABLE FOR BREACH OF CONTRACT ARISING FROM ANY  DEFECT IN MATERIAL OR WORKMANSHIP OF THE EQUIPMENT. 

  1. Equipment Owned by Lessor

Until the expiration of each Equipment’s respective entire Lease Period and payment of all amounts owing to Lessor under this Agreement, the Lessee shall not hold any right, title or interest in or to the Equipment. Lessee hereby expressly waives  any rights, benefits or protection given to it by the laws, present or future, of  any jurisdiction, in favour of conditional sales lessees or bailees.

  1. Loss or Damage to Equipment

Upon taking possession of the Equipment, the Lessee assumes the entire risk of loss of or damage to the Equipment from  any cause whatsoever. No loss or damage to the Equipment shall affect or impair the obligations of Lessee hereunder which shall continue in full force  and effect.

  1. Maintenance and Inspection of Equipment

Lessee shall at all times and at Lessee’s own expense keep the Equipment in  good and efficient working order. Subject to providing the Lessee reasonable prior notice, Lessor, its employees shall at all times have  access to the Equipment for the purpose of inspecting it. Lessee shall not,  without the prior written consent of the Lessor, make any alterations,  additions or improvements to the Equipment.

  1. Indemnification of Lessor by Lessee

Lessee hereby indemnifies Lessor against and holds Lessor harmless from  any and all claims, actions, suits, proceedings, costs, expenses, damages and liabilities, including legal fees, arising out of or connected with or resulting  from the Equipment (Claims), including, without limitation, the manufacture,  selection, delivery, installation, possession, use, operation or return of the  Equipment or otherwise on account of any personal injury or death or  damage to property occasioned by the Equipment or the negligence of the  employees; servants or agents of Lessee or Lessor, or on account of any  infringement or alleged infringement of any patent of any third party,  resulting from or relating to the Lessee’s operation of the Equipment or the  product of such operation (excluding to the extent such Claims occur as a result of Lessor’s wilful negligence).

  1. Equipment to Remain Personal Property

The Equipment shall at all times during the term of this Lease be and remain  personal or movable property.

  1. Remedies on Default

Upon the occurrence of any event of default hereunder, Lessor shall be  entitled at any time thereafter to do any one or more of the following without  prejudice to any other right it may have against Lessee:

  • make such payments or take such steps as may be necessary to remedy the default and, upon demand, recover such payments and Lessor’s costs incurred from  Lessee together with any other sums then due and payable under this Lease;
  • terminate this Lease and take possession of the Equipment without demand or notice wherever it may be located and sell, lease or otherwise dispose of the  Equipment upon such terms and conditions as Lessor may deem fit;
  • recover any damages and expenses which the Lessor shall have sustained by reason of the Lessee’s breach of this lease, including but not limited to reasonable  sum fees of legal counsel and such expenses as shall be expended or incurred in  the seizure, dismantling, storage, reassembly, or refurbishing.
  1. Interest Charges

Should Lessee fail to pay when due any rental payment or any sum required  to be paid to Lessor, Lessee shall pay interest on such delinquent payment  from the date thereof until paid at the rate of 50% per week

  1. Non-Cancellable Lease

After delivery of the Equipment, this Lease cannot be cancelled or terminated  except as expressly provided herein and will remain in force for the full term  indicated herein. In the event that the Equipment is returned prior to the remaining term of its respective Lease Period, then the lessee must pay the remainder of the lease  for the remainder of its respective Lease Period.

  1. Lessee’s Obligations Unconditional

Lessee shall pay or perform its obligations under this Lease unconditionally  and without regard to any set-off, counterclaim or equities between Lessee  and Lessor.

     

    1. Entire Agreement

    This Lease constitutes the entire agreement between the parties with respect  to the Equipment and its rental and  purchase of and use by the Lessee and supersedes all  prior agreements, negotiations, discussions and understandings, written or  oral, between the parties, save and except the Purchase and Security  Agreement entered into between the parties. There are no other terms, conditions, obligations, representations or warranties on the part of either  party, whether oral, written, express, implied, statutory or otherwise,  governing or affecting the transactions contemplated in this Lease or which may give rights to the Lessee or restrict the rights and remedies of the  Lessor.

     

    1. Lessors Continuing Obligations

    Upon expiration of the Equipment respective Lease Period set out in Annexure ‘A’, the Lessor is obligated to continue to observe the conditions of the Warranty set out in Schedule ‘C’ up to a total of 24 months from the commencement of the Lease Period.  

     

    SCHEDULE C - WARRANTY

    Thank you for your purchase in the products and services of Home By Function Pty Ltd.

    This Limited Warranty applies to, Equipment, and only for, Equipment, purchased from Home By Function Pty Ltd.

    What does this limited warranty cover and for how long..?

    This Limited Warranty covers any defects in material or workmanship under normal use during the Warranty Period.

    • The warranty period for the reformer frame and all parts is 2 years from date of purchase.
    • The warranty period for all upholstery contained on the reformer is 3 months from date of purchase.

    During the Warranty Period, Home By Function will repair or replace, at no charge, Equipment or parts of Equipment that proves defective because of improper material or workmanship, under normal use and maintenance.

    What will we do to correct problems..?

    Home By Function Pty Ltd will either repair the Equipment at no charge, using new or refurbished replacement parts.

    A replacement Equipment or part assumes the remaining warranty of the original Equipment or 2 years from the date of replacement or repair, whichever is longer.

    What does this limited warranty not cover?

    This Limited Warranty does not cover any problem that is caused by conditions, malfunctions or damage not resulting from defects in material or workmanship

    What do you have to do?

    To obtain warranty service, you must first contact us on 1300 118 188 so we can determine the problem and the most appropriate solution for you.

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