RFC Equipment Lease Agreement and Payment Authorization -Arise Virtual Solutions Airbnb Client
This Equipment Lease Agreement and Payment Authorization dated , and is between the RAy Family Company Holdings, LLC DBA RFC The IBo & CSP Hub (“RFC”) and (“Contractor”) with CSP ID . This agreement is subject to the terms of the Master Agent Agreement between the RFC and Contractor. Unless otherwise expressly stated herein, in the event that any of the provisions contained in this agreement are in conflict with any of the provisions set forth in the Master Agent Agreement, the provisions set forth in this agreement will be deemed to be controlling and will govern the performance of the obligations of each party hereunder with respect to the subject matter hereof. Any capitalized term not defined herein shall have the meaning ascribed to it in the Master Agent Agreement.
Chrome Box - ACER CXI3-I38GKM I3-7130U 64/
Headset – Plantronics model Blackwire C320 (USB)
Replacement Value: $600.00
Shipping Instructions: Please select the following shipping location for the equipment to be shipped to you
RFC and Contractor agree that RFC will finance the above-described personal property (collectively and including replacement of the "Equipment" and individually an "Item") under the terms of this agreement.
1. LEASE. RFC agrees to lease the Equipment to the Contractor and the Contractor agrees to lease the Equipment from RFC accordance with the terms set out in this agreement. Upon taking possession of the Equipment, such acceptance shall acknowledge that the Equipment is in good working order and condition and that Contractor is satisfied with
the Equipment. All Equipment is in an “as is” condition. The Equipment is the property of RFC and remain the property of RFC. All dollar amounts in this agreement refer to U.S dollars and all payments are required to be paid in U.S dollars unless otherwise agreed upon in writing by RFC and Contractor.
2. SECURITY INTEREST. Contractor hereby grants RFC a security interest under the Uniform Commercial Code in the Equipment. The grant as to an Item and Contractor’s related obligations will be effective as of the later of execution hereof or when Contractor acquires an interest therein. The security interest secures Contractor's performance of its obligations hereunder.
3. PAYMENTS; DEDUCTION AUTHORIZATION. Contractor is responsible for a non-refundable Deposit to equal the full replacemnt value of the Equipment. Contractor will pay the deposit 12 installments of $50.00 each (the “Deposit Installment Amount”) per invoice period. After the Deposit has been paid in Contractor will have met the deposit requirements and will be responsible to pay a $2.50 leasing fee (the “Leasing Fee Amount”) per invoice for the duration of Contractor's Master Agent Agreement and any Statement of Work. Contractor authorizes RFC to automatically deduct, without further notice, solely from and to the extent of Servicing Funds (as defined below) the Deposit Installment Amount and Leasing Fee Amount from each payment of Servicing Funds by RFC to Contractor. Price is repaid, whether or not an invoice is rendered by RFC for such payment. “Servicing Funds” means the amounts received for Contractor’s Service Revenue (as defined by and under the terms of the Master Agent Agreement and any Statement of Work thereunder). Contractor understands, acknowledges and agrees that even if the Payment Amount exceeds its Servicing Funds for an invoice period, it remains liable to RFC for any unpaid amount due to RFC hereunder.
4. LOCATION; USE. Contractor will keep each Item in Contractor's possession and control. Upon request, Contractor will advise RFC as to the exact location of an Item. Each Item will be operated carefully and properly in compliance with all applicable manufacturer's warranty requirements and all manufacturer's instructions.
5. MAINTENANCE; ALTERATIONS. Contractor will maintain each Item in good condition and repair. Contractor will not make any alterations or additions to an Item which detract from its economic value or functional utility.
6. LOSS AND DAMAGE; STIPULATED VALUE. Contractor will bear all risk of loss, theft, destruction or requisition of or damage to an Item ("Casualty Occurrence"). Contract will give RFC prompt notice of a Casualty Occurrence and will then repair or replace the Item; provided, if the Item is lost, stolen, destroyed or damaged beyond repair, Contractor will pay RFC the "Stipulated Value" equal to (a) any amounts due RFC from Contractor at the time of the payment and (b) the remaining payments as to the Item with each discounted to present value at 5% per annum from the date due to the date of payment. Upon such payment RFC's security interest will terminate as to the Item; provided this agreement is not then in default.
7. WARRANTY. RFC MAKES NO AGREEMENT, REPRESENTATION OR WARRANTY AS TO ANY ITEM. THE ITEMS ARE PROVIDE ON AN "AS IS, WHERE IS" BASIS, SOLELY UNDER THE USE AND DIRECTION OF THE CONTRACTOR, WITHOUT WARRANTY OF ANY KIND (EITHER EXPRESS OR IMPLIED), INCLUDING BUT NOT LIMITED TO ANY IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A SPECIFIC OR GENERAL PURPOSE AND THOSE ARISING BY STATUTE OR BY LAW, OR FROM A CAUSE OF DEALING OR USAGE OF TRADE. RFC’s only obligation is to replace the Equipment with identical or similar equipment if the Equipment fails to operate in accordance with the manufacturer’s specifications and operation instructions. Such replacement will be made as soon as practicable after Contractor returns the non-conforming Equipment to RFC.
8. TAXES. Contractor will make all filings and pay all taxes and other governmental assessments relative to the Equipment as required by law. Contractor will pay or reimburse RFC for any other taxes and other governmental assessments related to the payments due under or otherwise related to this agreement.
9. INSURANCE. Contractor will maintain insurance on the Equipment for not less than its full replacement value.
10. INDEMNITY. Contractor will indemnify, defend and hold harmless RFC against any Liabilities incurred by RFC relating to this agreement or the Equipment, including claims of latent or other defects, strict liability claims (whether in either case relating to an event while RFC has a security interest therein) and claims for patent, trademark or copyright infringement.
11. DEFAULT. This agreement will be in default if (a) Contractor fails to pay any amount hereunder when due; (b) Contractor fails to perform any other obligation hereunder or under any other agreement between RFC and Contractor; (c) a petition is filed by or against Contractor under the Bankruptcy Act or under any other law providing relief for debtors; (d) Contractor makes an assignment for the benefit of creditors, a receiver or trustee is appointed for Contractor, a proceeding contemplating winding up of Contractor's affairs is instituted, Contractor ceases business affairs or Contractor makes an abnormal transfer of a material portion of Contractor's assets; (e) there is a material misrepresentation to RFC by Contractor; or (f) the Master Agent Agreement is terminated for any reason.
12. REMEDIES. If the agreement is in default, RFC may, at its option, do any one or more of the following: (a) accelerate the remaining payments and declare due the Stipulated Value; (b) use self-help and other lawful remedies to take possession of any Items; (c) sell or otherwise dispose of any Items in a manner which is commercially reasonable; (d) recover from Contractor all amounts then due and owing hereunder less the net sales price (net of all RFC’s costs and expenses of sale) of any Items RFC has repossessed and sold; or (e) utilize any other remedy available to RFC under the Uniform Commercial Code or otherwise at law or in equity. All remedies are cumulative and may be exercised concurrently or separately from time to time. Contractor will also pay RFC all costs and expenses not offset against the proceeds of sale of any Equipment incurred by RFC in enforcing this agreement. Any waiver by RFC of a provision of this agreement must be in writing, and forbearance by RFC will not constitute a waiver. Post-default amounts will bear interest at 10% per annum or at such lesser default rate as set by law until paid.
13. ASSIGNMENT. Without the prior written consent of RFC, Contractor will not lease, transfer an interest in or allow a lien against any Item or transfer any obligation under this agreement except a lien in an Item created by RFC. Contractor's obligations are not assignable by operation of law. All RFC's rights under this agreement and interest in the Equipment may be disposed of without notice to Contractor.
14. LATE PAYMENT. If Contractor fails to pay an amount hereunder within 10 days of when due, Contractor will pay RFC (a) a 5% late charge; and (b) all amounts RFC pays others in connection with collection of the amount.
15. GENERAL. This agreement and the Master Agent Agreement contain the entire agreement between RFC and Contractor concerning the financing of the Equipment and may be amended only by a written agreement signed by the party to be charged. The singular includes the plural and the word "RFC" includes all assignees of RFC. Paragraph titles are not an aid in interpretation. This agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same agreement. The parties agree that a facsimile or electronic signature may substitute for and have the same legal effect as a hard copy signature. A copy of this agreement may be entered into evidence.
By execution hereof Contractor requests RFC to lease the Equipment hereunder. Execution hereof by a duly authorized officer of RFC indicates RFC's acceptance of such offer. Contract warrants that Contractor will use the Equipment solely for commercial or business purposes.
The parties have caused this agreement to be executed by their duly authorized officers as of the date set forth above.
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Signed by Felicia Ray
Signed On: October 29, 2020
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Document Name: RFC Equipment Lease Agreement and Payment Authorization -Arise Virtual Solutions Airbnb Client
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