Terms and Conditions

A. The listed and signed party on this agreement will hereinafter be known as the “lessee.”
B. Instrumental Music Center, LLC, which will maintain ownership of the rental property, will hereinafter be known as the “lessor.”
C. The rental property described will hereinafter be known as the “instrument.”
D. The total monthly payment described above, including tax and TDR, will hereinafter be known as the “rental fee.”

1. The initial rental payment typically covers the first 2 months, unless otherwise authorized and noted on this agreement. 
2. The “instrument” is defined as all parts of the instrument body and functional accessories, including mouthpiece, ligature, bow, original case, mallets, stand, etc.
3. Rental fees paid are not refundable.  
4. The total liability does not exceed fair market value of the instrument rented.  
5. The lessee retains the right to terminate this agreement at any time by returning the instrument to the lessor. However, liability for past due rental fees will survive the termination of this agreement.
6. The lessee will be responsible for the instrument, including loss or damage, until returned, postpaid to the lessor or its agent.  
7. Sales tax must be added to all prices and payments shown with this agreement, excluding TDR. There is no tax on TDR coverage. Sales tax is based on published rates current to the date of this agreement and subject to change without notice.
8. The lessor will transfer any manufacturer warranties upon sale. 
9. The lessee is responsible for the total price of the instrument if it is lost, stolen, or destroyed.  
10. The lessee is responsible for any repair costs to bring the instrument back to the condition in which it was delivered to the lessee, up to and surviving the termination of this agreement.
11. The lessor guarantees that the instrument is in playable condition when delivered to the lessee.
12. The lessor will continue to hold a lien on the instrument until it is returned, until the total price is paid off, or until the lessee purchases the instrument via early payoff (see Customer Options for details). 
13. The lessee will be enrolled in automatic billing (AutoPay). In the event the card on file is declined, this does not change the monthly liability of the lessee per this agreement.
14. In the event the lessee will be relocating to another state, the lessee must return the instrument or may opt to purchase the instrument via early payoff. The lessor does not rent out of state. 
15. If the lessee relocates to another state without returning or purchasing the instrument, the entire balance owing on this agreement will be charged to the credit card on file.  
16. A minimum late fee of $7.50 per month will be assessed to any account that is delinquent by more than 10 days.
17. Title and Right of Possession of the instrument shall remain with the lessor until the total rental payments made equal the total price of the instrument as shown in this agreement, plus sales tax. At that time, ownership will be transferred to the lessee. If rental fees are not paid when due, the lessor shall have the right to take possession of the instrument.
18. In the event that the rental fees become past due by 60 days or more, the lessor will consider the lessee in default of the agreement and the instrument must be returned. The entire balance owing on the agreement will become due and payable on demand, in addition to all charges associated with collection, prosecution, and the lessor’s legal fees. When the instrument is returned, a credit (to be determined by the lessor) will be issued toward this balance due. The lessee is entitled to reinstate this agreement, within a period up to 180 days, by paying the remaining balance owed.
19. The lessee is not authorized to keep the rental instrument by filing for bankruptcy or stopping payments. The lessee must return the instrument to the lessor if the account goes into default (over 60 days past due).
20. An account in default will be turned over to the lessor’s collections department and the lessee’s credit record will be adversely affected.  

Rental Payments
1. Rental payments are the amount of rent (principal) paid toward an account monthly. These do not include tax, TDR, or late fees.  
2. Rental payments can be used toward the purchase of an instrument in the same instrument family. The intention of this program is to allow a student to rent an instrument they can eventually own.
3. The lessee cannot use rental payments toward an instrument in a different family. The saxophone family includes soprano, alto, tenor, and baritone saxophones. Flute and piccolo are in the same family. Bells, snare drums, and drumsets are in the same family. Violins are not in the viola family. Signing of this agreement certifies an understanding of this policy. 
4. The lessee may not use rental payments toward accessories. They may only be used toward the purchase of an instrument.  
5. Rental payments have no inherent value. They may not be traded, bartered, exchanged, or used by another person. This agreement does not establish a savings account. Unused rental payments become rent paid and cannot be refunded.  
6. Any rental payments made by the lessee toward a specific instrument serial number are relinquished upon returning the instrument to the lessor and terminating the agreement.
7. Any unused rental payments will expire in 6 months after the instrument has been returned. The payments become rent paid and cannot be used toward the purchase of an instrument.    

Customer Options
1. The lessee may return the instrument at any time.
2. The lessee may continue monthly rental payments until they have paid the total price of the instrument, plus sales tax, completing the full term of this agreement. At that point, ownership of the instrument will be transferred to the lessee.
3. The lessee may at any time purchase the instrument (Early Payoff) by taking the total price as shown on this agreement, deducting the total rental payments made, deducting 30%, and then adding tax.
4. The lessee may choose to use the total rental payments made to purchase a better quality or different instrument in the same family by returning the rental instrument and paying a price difference. The final purchase price will be figured in the following manner:
[(List price – total rental payments made) x .7] + tax = final price
5. If the list price is exceptionally high or does not exist, the lessor may choose to use the following formula:
[IMC cash price – (total rental payments made x .7)] + tax = final price
6. Total rental payments may include successive rentals on the same IMC account, and within the same instrument family, if not more than 6 months elapsed between returning one instrument and renting the next. Concurrent rentals, even if they are within the same instrument family, are excluded from this option. The lessee is responsible for using rental payments from successive rentals before they exceed the value of the instrument desired for purchase. 
7. Rental payments can only be used up to the full value of one instrument purchase. If the total rental payments made exceed the value of the instrument desired for purchase, the lessee is not entitled to refund or reimbursement. After purchase, any excessive rental payments become rent paid and cannot be used to purchase additional instruments.
8. The lessee has 30 days after completing the full term of this agreement and taking ownership of the instrument to purchase a better quality or different instrument in the same family, by returning their rental instrument and paying a price difference following the formulas immediately preceding in options 4 & 5. After 30 days, unused rental payments become rent paid and cannot be used toward the purchase of another instrument.

TDR (Theft-Damage-Repair) Coverage 
The lessor, for the monthly charge shown (in addition to the rental payment), will protect the lessee against loss or damage to the instrument, subject to the following terms and conditions:

1. An instrument totally destroyed by fire or other accident occurring not through the fault of the lessee will be replaced by the lessor, without charge, with an instrument of similar or equal brand, age, and condition as determined by the lessor. The lessor will require reasonable proof of any such loss or destruction.
2. The lessor will replace a stolen instrument provided that the theft is reported to law enforcement authorities within 24 hours of the incident and a police report is provided to the lessor. Instrumental Music Center, which maintains ownership of the rental property, must be listed as the “victim” in any police report related to the instrument.
3. This coverage does not extend to loss of the instrument owing to carelessness or misplacement. In case the instrument is merely misplaced or lost, the lessee shall be liable to the lessor for the entire balance owing on this rental agreement.   
4. Additionally, the instrument is not covered against negligence or vandalism. If negligence or vandalism is suspected, the lessee will be dropped from the TDR program and will be responsible for all damage done to the instrument, including costs associated with repair or replacement.  
5. If the instrument becomes damaged (i.e. crushed, bent) by means other than negligence or vandalism, the lessor will repair and regulate it to proper playing condition without charge. In some cases, the lessor may instead opt to provide the lessee with an instrument of similar or equal brand, age, and condition as determined by the lessor.
6. This coverage does not extend to deterioration of appearance, which does not affect the performance of the instrument, such as scratches, minor dents, and finish wear.  
7. Specifically excluded from coverage are consumables, including drum heads, drum sticks, strings, reeds, swabs, and lubricants; lost parts and special or custom equipment; routine instrument cleaning.
8. Any claim for repair or replacement hereunder shall not be construed to alter or diminish the terms of this rental agreement.  
9. If the account is delinquent by more than 10 days, the TDR coverage will lapse and the lessee will be responsible for any costs associated with loss or damage to the instrument. TDR may be reinstated only by permission of the lessor and only once payments are made current.
10. All repairs and replacements, for which claims are made under this coverage, must be made by the lessor. No others will be honored.