Definition of terms: As used in this agreement, “you and “your” mean the person or persons signing this agreement as lessee. “We” and “Our” mean the Lessor/Owner (Ray’s Mid-Bell Music). “Lease” means this LEASE agreement including all disclosures.

1. The instrument described on reverse side of this agreement is the property of Ray’s Mid-Bell Music and is NOT FOR SALE.

2. The instrument described is LEASED to the undersigned (on reverse side) for term as indicated. The “initial” lease payment is due and payable upon receipt of the instrument. Lessee has option to RENEW lease by payment of fees as shown on or before renewal date.

3. Agreement may be CANCELLED by return of instrument no later than 10 days following the date of monthly renewal payments (as documented on reverse side). In event of LATER RETURN, addition lease fees & late charges will be due and payable. If you fail to make a renewal payment you may have the right to reinstate this agreement by paying all lease payments past due, all applicable late charges, and reinstatement fees PROVIDED… A) You voluntarily returned the property to us, if requested and B) Not more than 60 (sixty) days have passed since you have returned the property.

4. Renewal of lease is at the option of Ray’s Mid-Bell Music.

5. Ray’s Mid-Bell Music will allow UP TO TWO FULL YEARS OF LEASE “CREDIT” toward the purchase of a new instrument provided purchase arrangements are completed within 120 (one hundred and twenty) days of return of instrument. Lease “credit” may not reduce the regular selling price of a NEW instrument by more the 50%. Note:  payments (see below) DO NOTaccumulate as “credit” toward the purchase of a NEW instrument. LEASE INSTRUMENT IS NOT FOR SALE.

6. You agree to notify us of any change in residence address, or change of school attendance by the student (user of instrument) within 10 (ten) days of any such change. Failure to notify us of such change may result in termination of lease agreement.

7. NON-PAYMENT of lease fees when due shall be considered DEFAULT and will result in termination of lease agreement. Under such conditions, you agree to pay for lease of instrument to date of return along with all late fees and/or collection expenses including reasonable attorney’s fees.

8. In even of default, you do hereby authorize Ray’s Mid-Bell Music to repossess instrument wherever located (including educational institutions), without the consent of school authorities.

9. The sole responsibility of Ray’s Mid-Bell Music is to provide the instrument (provisions of  accepted…see below.)

10. This agreement and/or instrument is NOT TRANSFERABLE.

11. In even that Ray’s Mid-Bell Music is compelled to incur any expense (including reasonable attorney’s fees) in responsibility of the undersigned and shall be due and payable.

12. Lease fees are NON REFUNDABLE.

13. Lease fees are subject to change without notice.

14. RISK OF LOSS (damages, disappearances, theft, or destruction of property): Damage to or loss of instrument (and/or equipment) from any casualty whatsoever shall be born by you from date of Lease forward. We carry no insurance and you are responsible for its safety until it is returned to us. If the property is damaged or partly destroyed, you agree to pay us immediately for all repairs (provisions of optional  Accepted.) If the property disappears, is stolen or destroyed, you agree to pay us immediately the amount of the fair market value of the property as of the date of the disappearance, theft, or destruction.

15.  Optional (Maintenance & Repair Plus Replacement!):  Coverage is purchased monthly or yearly at time instrument is purchased or rented or is purchased concurrently with each rental or lease payment in amount shown on front of agreement. Payments for this coverage do NOT apply to purchase.  Rental or lease account must be in CURRENT status, or these provisions are VOID.

A. If instrument (and/or equipment) becomes damaged or deteriorates in performance, the company will repair and/or regulate it to proper playing condition without charge.  In event of damage to mouthpiece, strings, drumhead(s), sticks, bows, stands and cases, repair will be made when and where possible, or, replacement allowance will be given (allowance equivalent to the price of entry-level quality replacement part.)  Limit 6 guitar strings per year (or 1 set); 1 mouthpiece; 1 bow; 4 violin, viola, cello, or bass strings (or 1 set).  NO CHARGE for installation. (Limit once per year.)  Specifically EXCLUDED: “cosmetic damages” which do not affect the performance of the product. (Note: Minor cosmetic damages will be corrected, if possible, at the discretion of attending technician).  OTHER EXCLUSIONS: Trap sets and cymbals; keyboards, digital pianos, and other electronic instruments; guitar and bass electronics and pick-ups; reeds; oils & care items; accessories. A FREE LOANER will be provided upon request (subject to availability; EXLUDES fretted.)  Coverage has NO DEDUCTIBLE costs!

B. Routine cleaning is not covered for any instrument.  If full chemical flush is necessary for a brass instrument to be brought to proper playing condition, one chemical flush can be allowed per year (based on original contract date).  This service can also cover minor accessible dents at the discretion of attending technician.    

C. Any claim for repair hereunder shall not alter or diminish the terms of the accompanying rental-purchase or lease agreement. If Lessee defaults by more than 10 (ten) days, in payment thereof, M&R plan will lapse as of such default and may be reinstated only by permission of the Company.  All repairs for which claims are made must be made by Ray’s Midbell Music or our authorized agents.

D. These provisions are void in event of obvious neglect, carelessness, and/or intentional abuse.

E. Replacement: In event of total loss of instrument (from fire, theft, casualty, or damage beyond reasonable repair), RMBM must be notified within 48 hours.  If rental/lease and M&R account is in “current” status, RMBM will cover replacement of the instrument.  This extended Maintenance & Repair PLUS Replacement coverage is only valid on Group I, Group II, and Group III Rental-Purchase and Lease Plans.  Replacement will be an instrument of estimated comparable value and condition AT THE TIME OF LOSS (not the condition on the original contract date.)  In the event of THEFT or MYSTERIOUS DISAPPEARANCE, a police report MUST be filed within 48 HOURS of loss or replacement is VOID and client is 100% responsible for replacement.  If original instrument is later recovered, it is to be returned to Ray’s Midbell Music within 48 hours of recovery.  Limit ONE TIME replacement for the original serial number for the life of the contract.  Any outstanding balance due on the original instrument rental-purchase or lease account will be due and payable under terms of original Rental-Purchase or Lease Agreement.