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I hereby authorize ILoca Services, Inc. (ILoca) to obtain a report from any credit reporting agency or from any other source(s) pertaining to the company's credit history. I also authorize ILoca to obtain a personal credit report from any reporting agency or any other source pertaining to personal credit history. I also authorize drivers and employees to sign for the company when picking up trailers, parts, or repairs, and I authorize that ILoca Services, Inc. can keep copies of my company information on file for use at a later date. Customer is responsible for any attorney's fees and court costs in case of suit. I further authorize ILoca Services, Inc. to use the EFS system or ACH withdrawal on any check issued to ILoca to process any payments. I agree to the above terms and attest the above information to be true and correct, to the best of my knowledge.
1. Lease shall commence on the date noted on the Equipment Lease Agreement and shall terminate after the minimum term noted on the Equipment Lease Agreement is reached and on the date the equipment is returned to and accepted by ILOCA SERVICES, INC. (hereinafter, Lessor), except as stated in paragraph 3 and paragraph 17.
2. Upon receipt of the equipment, Lessee or agents of Lessee acknowledge equipment is received in good condition, except as may be noted on the Equipment Lease Agreement, and that said condition is satisfactory and acceptable to Lessor. Lessor makes no warranties, expressed or implied, with respect to the leased equipment or any part thereof and has not made, and shall not be bound by any statements, agreements or representations not specifically set out herein, unless the same be reduced to writing and signed by Lessor.
3. Lessee agrees to return equipment to Lessor in good condition with normal wear expected. Equipment not returned in good condition shall remain subject to rental charges until the required repairs, acceptable to Lessor, are completed. Lessee shall, at its expense, keep and maintain the equipment leased hereunder in first class working order condition, repair, and free from any and all liens and claims; install, make all necessary repairs and replacements thereto, using only new manufacturer made or manufacturer approved parts, and provide all labor, materials, lubricants, airing of tires, parts and other supplied or items consumed by or required, in connection with the use of said leased equipment, not removing the original tires there from, and save the repaired or replaced items; all of which shall become the Lessor’s property.
4. Lessee acknowledges acceptance of the equipment with tires as prearranged and described on the Equipment Lease Agreement. No warranties apply to tires other than expressed or implied by the manufacturer thereof. Tires are to be returned in the same condition as received with the exception of normal usage.
5. All rental and other charges according to the Equipment Lease Agreement shall be billed to Lessee at least once each month or 28-day rental period, and Lessee shall pay invoices within 30 days of receipt thereof. Invoices not paid when due shall bear interest at the rate of 1.5% per month until paid.
6. Lessee will pay, or reimburse Lessor for, any and all sales and use taxes in any state other than the state in which the equipment is licensed for personal property taxes, or other direct taxes levied against or based upon the price or value of the property leased hereunder or its use or operation, or levied against, or based upon the amount of rentals paid or to be paid hereunder, or any other taxes levied against or based upon the lease or the execution, filing, recording, or performance thereof. The term "direct taxes" as used herein shall include all taxes (except income taxes), charges and fees, levied, assessed, or charged by the U.S. Government, state government, county, city or other taxing authority.
7. Lessee shall assume all responsibility for and promptly pay or reimburse Lessor for all license fees or taxes, bonds, permits, certificates, assessments, and/or sales, use, gross receipt, business, property, and other taxes and tolls now or hereafter imposed upon the equipment, or upon the leasing, use or operation thereof (excluding income taxes imposed on Lessor), and on Lessor's request, provide Lessor with evidence of the payment thereof, provided that all certificates of title and/or registrations shall be applied for and issued in the name of Lessor or its assignee.
8. Lessee hereby specifically indemnifies Lessor, and agrees to hold Lessor harmless, against all loss and damages Lessor may sustain or suffer because of: (a) the loss of, or damage to said equipment or any thereof, because of fire, theft, collision, lighting, flood, windstorm, explosion, terrorist act or other casualty, and (b) the death of, injury to, or damage to the property of, any third person as a result of, in whole or in part, the use or condition of said equipment while in the custody, possession, or control of Lessee. Lessee further agrees, at Lessee's cost and expense, to procure and deliver to Lessor, simultaneously with or prior to delivery to Lessee of the equipment leased, to keep in full force and effect during the entire term of the lease, a policy or policies of insurance satisfactory to Lessor, with Lessor named as Additional Insured and Loss Payee, and as to the form and amount of coverage with limits of no less than $1,000,000 for personal injury liability, $50,000 for property damage liability, collision and comprehensive in the amount of the said estimated value of leased equipment, with deductible not to exceed $1,000.
9. Lessee shall not make, suffer, or permit any unlawful use or handling of said leased equipment. Lessee shall not, without Lessor's prior written consent thereto make or suffer any changes, alterations, or improvements in or to said leased equipment or remove there from any parts, accessories, attachments, hubodometers, mileage-tracking devices, GPS units or tracking devices, aerodynamic options, or any other equipment. Equipment returned with accessories, attachments, or other items missing or damaged will continue to be considered as rented equipment until the missing property is returned or repaired, or a replacement cost is paid, as set by ILoca Services, Inc at their option.
10. PERSONAL GUARANTEE - President, owner, or partner, or any or all officers of a corporation, agree that by signing or having a representative or agent of the company sign the Equipment Lease Agreement or a master lease, do hereby authorize that he/she/they will personally guarantee full payment of any and all outstanding balances due, including interest, penalties, repairs, collection costs, attorneys fees, and court costs Lessor may take to enforce the lease agreement. In the event of default, any and all officers, partners, or owners will be fully liable for all debts due to Lessor from Lessee.
11. In the event any act or thing required of Lessee hereunder shall not be done and performed in the manner and at the time or times required by the lease and these terms and conditions, Lessee shall thereby be and become in default under the lease, thereby vesting in Lessor the right, without any notice or demand, to declare all unpaid lease rentals to be due and payable forthwith and to retake and retain said equipment free of all rights of Lessee without any further liability or obligation to redeliver the same or any thereof to Lessee and without, to any extent, releasing Lessee from Lessee's covenants, obligations, and indemnities provided hereunder, including but not limited to Lessee's obligation for the payment of the rental provided herein.
12. In the event of Lessor issuing a default letter to Lessee, the term of the lease or leases immediately changes to a one-day lease starting with the day the equipment was released by Lessor. The Lessee has 24 hours in which to return the equipment from stated deadline in default letter. If Lessee does not return equipment to the destination set by Lessor within the 24 hour period, Lessee agrees that Lessor, at their option, can report the leased equipment as stolen property to the police. Lessee also agrees that once a police report has been filed, Lessor, at their option, may report the trailer stolen and file a claim to Lessee's insurance company. All proceeds of claim will go directly to Lessor.
13. Lessor may, at their option, for any reason, at any time, stated or unstated, put a lease or leases in default. In the event Lessor shall retake possession of the leased equipment or any part thereof, there shall, at the time of such retaking, be in, upon or attached to such retaken equipment any other property, goods or things of value belonging to Lessee or in the custody or control of Lessee, Lessor is hereby authorized to take possession of such other property, goods or things of value and hold the same thing for Lessee either in Lessor's possession or, in the exercise of Lessor's sole discretion, in public storage for the account of, and at the expense of the Lessee.
14. The failure of Lessor to insist upon the punctual performance of the covenants of Lessee hereunder, Lessor's failure to exercise any right or remedy available under or upon this lease, any failure of Lessor to require payment, as and when due, of any sum owing hereunder, or any extension of credit of forbearance on the part of Lessor, shall not constitute a waiver or any subsequent default hereunder. All demands for payment and performance and all notices of nonpayment under this lease are hereby waived by the Lessee.
15. Lessee shall not have the right to assign this lease in whole or in part, or to sublet, rent, or otherwise hire out, or part with possession of, any said equipment to any person, firm, partnership, association, or corporation other than Lessor, without the prior written consent of Lessor thereto. Lessor may assign this contract and all rights in it.
16. The Equipment Lease Agreement is a lease and not a sale, conditional or otherwise. The parties understand and agree that Lessee does not acquire hereunder, or by payment of said rental, any right, title or interest in or to said equipment or any thereof, except the right to possess and use said equipment, so long as Lessee shall not be default in performance hereunder.
17. Lessee agrees that the equipment leased hereunder will not be operated by any person other than Lessee or agents or employees of Lessee, each of whom warrants to be careful, dependable operator having a currently valid license to operate said equipment used herein, as required by law.
18. Lessee will pay all costs and expenses, including attorney fees as permitted by law, incurred by Lessor in enforcing any of the terms, provisions, covenants, and indemnities provided herein.
19. Lessor, at any time following expiration of the minimum period of the Equipment Lease Agreement, upon seven (7) days prior written notice to Lessee, may request the Lessee to return the leased equipment to the location designated by the Lessor or change any of the rate(s) for the equipment rental. If Lessor terminates this lease as stated above, said termination shall become effective only when the Lessee has returned all such equipment to an ILoca Services, Inc location designated by Lessor, and has paid Lessor all unpaid rents and charges allocable to the returned equipment. At the termination of the lease agreement, for any reason whatsoever, if Lessee delivers said equipment to a location other than that stated herein, lessee shall be billed for any cost incurred in returning the equipment to the designated location. The equipment leased hereunder shall be used only in the United States.
20. As used in the lease agreement, the term "rental day" is a calendar day or any portion thereof, and the term "month" is a 28-day rental month. The day that the lease starts, according to the Equipment Lease Agreement, and the day equipment is returned to Lessor both constitute as a billable rental day.
21. Lessor shall not be liable for any loss of or damage to any property left stored, loaded or transported in or upon any equipment leased hereunder. Lessee does hereby expressly waive any and all claims and demands for said loss or damage, including, but not limited to, loss of profits or other alleged consequential damages against the Lessor. Lessee does further agree to save and hold the Lessor free and harmless against any and all such claims and demands.
22. Driver is responsible for maintaining 95 psi cold tire pressure. Driver is also responsible for maintaining proper oil level in axle hubcaps. If while on rent, an axle is damaged due to improper oil level, Lessee shall be responsible for all costs involved in repair. It is Lessee's responsibility to check tire pressure and oil levels, along with a thorough pre-trip inspection of all equipment on a daily basis.
23. Following the return of leased equipment, a thorough inspection will be made. Lessee will be notified of any damages or excess wear, which may result in additional charges. If leased equipment is damaged, Lessee must restore the leased equipment to its same condition as the start of the lease, or be responsible for charges as determined by an ILoca Services, Inc. inspector.
24. Security deposits shall not be used by Lessee in lieu of payment for lease/rental charges, including any application or deduction of the last month's rent. At Lessor’s discretion, Lessor may use part or all of the security deposit(s) to repair any damage to equipment caused by Lessee or Lessee's agent(s). However, Lessee is not limited to the security deposit amount and Lessee remains liable for any additional balance. Lessor may use part or all of the security deposit(s) as reasonably necessary, to cure Lessee's default in payment of rent (which includes late charges, NSF or other fees due).
25. Disposition of security deposits will be determined upon return of all rented equipment, based on the following: (a) Lessee has not breached terms of the lease/rental agreement by returning equipment before the end of the rental or lease term. (b) Lessee or Lessee's agent(s) have not caused any damage by violating any terms of a written or oral lease or rental agreement, or by breaking the law. (c) Upon return to Lessor, all trailer(s) rented or leased, trailer(s) will be inspected. Inbound inspection will be compared to outbound inspection; units must be in the same condition as when received by the Lessee or Lessee's agent(s). (d) Lessee or Lessee's agent(s) have returned all equipment, and additional accessories issued with the unit are attached to trailer(s) when returned. Examples include; hubodometers, original brand-name tires, ILoca decals, license plates, straps, winches, etcetera. (e) Lessee has paid all rent, lease charges, return/damage charges, and or other debts owed to Lessor. (f) Lessee has returned leased/rented equipment to Lessor's location during normal business hours.
26. Venue - Lessee agrees that Illinois' 18th Judicial Circuit Court- DuPage County or the United States District Court of the Northern District of Illinois shall be the exclusive and sole possible sites for any lawsuit between the parties arising out of or related to this Contract or the underlying lease.
RENTAL BILLING INFORMATION
Welcome! Thank you for choosing to rent trailers from ILoca; we very much appreciate your business. Please take a moment to read and understand our rental billing process, and feel free to call if you have any questions.
Rental Trailer Billing Cycles:
All rental trailers are billed on a 28-day / 4 week cycle.
Billing dates will vary from month to month based on this 4 week cycle.
The next billing cycle will bill the day after the billed “to” date on your invoice.
For example: “rental from 12/28/20xx to 01/24/20xx” = next billing date 01/25/20xx
When trailers are picked up from our yard and the leases are started, invoices are created for 28 days in advance. Each lease will create an individual invoice. Starting with the next 28 day cycle, the rental charges for all trailers will be on one invoice. Once a trailer goes out, all billing cycles will be based on the first billing cycle date. If other trailers are picked up during a billing cycle, the system will automatically create an invoice when the lease is started, but will bill from the date out, to the billed “to” date on (the) trailer/s already on rent. For trailers going out during a rental period, the charges will be based on the rates on the lease (daily/weekly/28-day).
Example of partial period billing:
Lease rates = $50 per day / $150 per week / $450 per 28 days
Customer has trailers already out & billed from 12/28/2011 to 01/24/2012.
Customer takes out another trailer on 01/09/2012.
The lease is started and the unit is billed from 01/09/2012 to 01/24/2012 = 2 weeks plus 2 days, or:
$300 + 100 = $400.
If all rental units are returned, the next time any trailers go out on rent, a new billing cycle is created as above.
When the rental units are returned, the charges are based on the rates on the leases (daily/weekly/28-day). The termination invoice or credit will be calculated based on the same principal as above for partial periods. For mileage leases, the actual mileage will be calculated. Based on any pre-billed mileage, the system will create either an invoice or a credit memo. For net/net leases, the pre-billed return charges will be calculated. Any damages will be assessed, as well as tire and brake wear. The difference will create an invoice or a credit memo. If a security deposit was required, damages and wear will be assessed, and rental invoices and return charges must be paid in full before the deposit can be credited back to the account.
Traffic, Parking, and Toll Violations: Any toll, red light, speeding, parking, or other violation received by ILoca will result in a processing fee charged to Lessee’s account equal to the amount of the violation but no less than $100 in addition to the cost of the violation, along with any other fees associated with the violation.
Thank you very much for your business; we look forward to being your partner for the long haul! Please also keep us in mind for trailer sales, service, and parts.
UNCONDITIONAL GUARANTY OF PAYMENT AND PERFORMANCE
THE UNDERSIGNED “GUARANTOR”(s), as consideration for the present or future extension of credit by ILOCA SERVICES, INC. (“ILOCA”) to (“CUSTOMER”/Company Name), does hereby unconditionally guarantee the prompt payment and performance of all obligations owed by CUSTOMER to ILOCA. GUARANTOR hereby expressly acknowledges that there are no conditions precedent to the effectiveness or enforcement of this Guaranty, and that GUARANTOR is jointly and severally liable along with CUSTOMER to ILOCA by virtue of the terms hereof as primary obligors and debtors.
MAINTENANCE GUIDELINES FOR STANDARD LEASES
--Mileage Charges Apply--
When you select the mileage lease, ILoca will perform the maintenance required for normal tire and brake replacement and items related to normal wear. Any damaged items will be the responsibility of the customer.
Tires: Maintain air pressure of 95 PSI on radials. Check on a daily basis. Repair flats, replace flat run tires, and replace tires damaged by road hazards or driver mistakes such as curbed tires, flat run or cuts. Replace blown out tires and return to ILoca for evaluation. No credit will be given for shredded tires. Normal tire wear is 1/32” tire tread depth, per 10,000 miles, per tire on tandem axle; 8,000 miles, per tire on spread axle. Any wear beyond that is considered excessive wear and will be billed at $42.00 per 1/32” tire depth, per tire.
Lights: Replace burned out bulbs, broken light assemblies, and lost lenses and reflectors.
Brakes: Adjust brakes as needed and repair damage to air system. Notify ILoca at 3/8” brake lining to schedule brake replacement and/or replace before lining reaches 2/8”. Additional charge may apply if lining reaches 2/8”. Normal wear is 1/8” brake lining depth per 20,000 miles, per shoe. Any wear beyond that is considered excessive wear and will be billed at $42.00 per 1/8” brake lining depth, per shoe.
Other: Daily safety inspections and maintenance of proper oil or grease levels on axles, braking system components and landing gear. Maintain proper inflation of tires, proper brake operation and operable lighting. Replacement cost of lost or stolen licenses plates.
Tires: Replace normally worn tires at 4/32” tread depth at ILoca facility. Premature wear will be billed to customer. If done at customer’s location, travel time will be billable.
Replace failed tires covered by manufacturer’s warranty. ILoca will not pay for road calls. ILoca will credit customer any tire credit issued to ILoca by a tire company.
Lights: Repair shorts or defective wiring.
Brakes: Replace normally worn brake pads at ILoca facility.
Repair or replace air chambers and brake valves at ILoca facility.
Other: Perform regularly scheduled preventive maintenance at ILoca Trailer Rental facility.
Please note that all service work is to be completed at an ILoca facility. If work is performed elsewhere, the customer is responsible for the charges. ILoca may pay for all, part or none of the repair expenses. Any repair bills are to be submitted for reimbursement must include trailer number, hub reading, and a detailed description of services performed. If tire work is done, the invoice must include tire position (ie: LIF tire). All repair bills must be submitted within 5 business days from the date of repair for approval. Repair invoices are NOT to be deducted from account balance or invoices. The customer will receive approved/denied claim from ILoca. If approved, you will receive a credit applied to your account. If you have any questions, please call our office at (630) 548-2600.
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