1. This contract is made on the date of this signed document between K&S Music Inc. of, 61 Industrial Rd., PO Box 355, Berkeley Heights, NJ 07922, a corporation called “Lessor” or “we” or “us” and herein called “Lessee” or “You”.  Please refer to this contract for any additional information pertaining to early termination, purchase options, maintenance responsibilities, warranties, late and default charges. In exchange for the payment you make, we agree to lease you the instrument according to the terms of this rental agreement.  The school is not involved in this agreement and instruments returned to the school without proper authorization from K&S will be the liability of the renter.

 

RENTAL PAYMENTS

2. You agree to make all rental payments in advance of each rental period.  These payments are not contingent on practice and lesson schedules. We will consider as delinquent all payments that are received 10 days past due and you will incur a $8.50 late fee per month. Monthly re-rental coupons will be sent to you at the end of the initial rental period. All rental payments will be applied toward the purchase of instrument. Rental payments are not pro-rated. There will be a $30 fee for all returned checks.

 

AFTER THE INITIAL RENTAL PERIOD
3.  You must notify us in writing within 30 days of the expiration of the initial rental period if you wish to discontinue your rental of the instrument.  If you keep your instrument and do not notify us, you will be billed the monthly re-rental rate set forth on the front of this agreement.

 

INSURANCE INFORMATION

4. We will insure against loss or damage to the instrument caused by fire or theft except when fire or theft was occasioned by your negligence. If the loss occurred as a result of having left the instrument on school grounds (bus stop, playground, etc.) we will consider that to be a negligent loss and we will not provide coverage. If instrument is stolen, notification of theft must be made to police and

K&S Music Inc. within 72 hours of occurrence or coverage will be void and customer will be responsible for all costs. A police report is required. Your maximum liability in the event of an insured loss will be a $100.

 

REPAIRS

5. All repairs must be done only by K&S Music Inc. You will have sole responsibility to pay for the cost of repair if there is damage resulting from your negligence or your failure to properly care for your instrument.  Coverage is excluded for: reeds, mouthpieces,

valve or slide oil, strings, bridge or bow. The instrument cannot be repaired without an authorization number. You must call

K&S Music Inc. for an authorization number to have your instrument picked up at the school.

 

STRING INSTRUMENT RENTALS

6. Smaller string instruments are traded up to larger ones as a student grows.  Most smaller instruments are not the one a customer

will eventually purchase.  Your payments will go toward a full-size string instrument. Call K&S Music if student needs a different size instrument due to student growth.

 

SWITCHING TO A DIFFERENT TYPE OF INSTRUMENT

7. If you decide to switch instruments, you will be charged a $20 administrative fee. This will not be applied to the purchase price. No fee will be charged for adjusting violin, viola, cello and string bass sizes resulting from student growth.  If an instrument is exchanged, purchase information may change. Contact K&S for updated purchase information. The instrument cannot be exchanged without

an authorization number. You must call K&S Music Inc. for an authorization number to have your instrument picked up at the school.

 

PURCHASE INFORMATION

8. The instrument shall remain ours until it has been paid for in full. You may have the option to purchase the instrument at any time during the rental (if you are not in default of this contract). If you exercise this option, the price you pay will be the list price of the instrument and you will receive credit for your initial and continuous monthly payments. Once your payments equal the list price, you

will gain title of the instrument and our mutual obligations under this agreement will cease. You are entitled to a discount if you purchase the instrument outright before the expiration of the rental. Please call K&S Music to find out information about your discount. You are entitled to a 50% discount off the unpaid balance if purchased during your first year of rental.  You are entitled to a 25% discount off

the unpaid balance thereafter. Purchase price must be made in one payment

 

CREDIT CARD AUTHORIZATION

9. If lessee is more than 45 days late in paying any sums due under this agreement, Lessee herby authorizes K&S Music to charge the credit card given at time of rental for payment of any sums due under this agreement. If renters check is returned unpaid, renter hereby authorizes his/her credit card to be charged for both check amount and returned check fees.  Credit card chargeback fee is $30.00. If paying with a credit card, you authorize K&S Music to add on a credit card processing fee at our option 

WARRANTY INFORMATION

10.  You are entitled to a 90-day warranty from the date of purchase. Warranty does not cover damage caused by negligent handling, maintenance, or care for instrument. Warranty is not available for string instruments, guitars, keyboards and amplifiers.

 

RETURNING YOUR INSTRUMENT

11. You may return the instrument at any time to terminate this agreement. You will receive no refunds for early returns. The instrument will not be returned without an authorization number. You must call K&S Music Inc. for an authorization number

to have your instrument picked up at the school.  If instrument is damaged or defective when returned, you may have to pay additional fees for repair. When instrument is returned, you must pay any outstanding amounts.  If instrument is returned, all monies toward the purchase of the instrument will be forfeited and cannot be reinstated.

 

INFORMATION ON BREACH OF THIS AGREEMENT

12. If you are in default of this agreement your rearage and all future payments shall immediately become due.

You will be in default of this contract if: A. (1) You fail to make a timely payment to K&S Music Inc. (2) Your check is non-collectible, (3) You fail to notify K&S Music Inc. of a change in your address or phone number in writing (3) You damage the instrument through negligence or fail to properly care for it (3) You lose the instrument including fire or theft (4) You fail to return the instrument. (5) You allow anyone other than K&S Music Inc. to service the instrument. (6) You sell, assign, or attempt to sell or assign instrument (7) You declare bankruptcy.

B. If you are in default of this agreement, we may terminate this agreement with you.  If you owe us money that has remained unpaid

for more than 60 days, and we sent this obligation to collection, all payments along with collection and legal fees associated with these actions will be due.  If you are still in the possession of the instrument at the time you are sent to collection you will be responsible for the price of the instrument plus all costs including the collection and legal fees associated with these actions.  Return of the instrument as credit toward this obligation will no longer be accepted.

 

13. Disclosures available upon request.

 

Below are the approximate current list price ranges for student rental instruments (prices are dependent on brand, model, condition, and availability and are exclusive of tax and maintenance charges). All prices subject to change.

 

Flute – $570.00 to $775.00  Trumpet  - $550.00 to $895.00   Tenor Sax - $1575.00 to $1895.00    Violin(4/4) - $550.00 to $700.00                                       

Clarinet - $600.00 to $750.00  Trombone - $575.00 to $895.00  French Horn -$1495.00 to $1895.00 Viola(15”) - $550.00 to $830.00

Alto Sax - $1175.00 to $1695.00   Snare Kit - $290.00 to $500.00  Oboe - $1200 - $1600  Cello(Full) - $775.00 to $1895.00

Bell Kit - $290.00 to $500.00