Furniture Rental Agreement

Terms and Conditions

1. Late Payment and Return

For each payment not received by Lessor and/or the leased items(s) are not returned after the date
of return, Lessee will be charged a late fee in the amount of 10% of the fee per day or Php 200.00
per 7 days, whichever is lower. This late payment charge shall be in addition to Lessor’s other
remedies in the event of default.

2. Security Deposit or Downpayment

Both parties may or may not agree for a security deposit/downpayment as security for possible
damage during the term of use. Therefore, security deposit/downpayment is not mandatory. The
security deposit may be given to the Lessor before/at the pickup of leased item(s).

3. Use of Property

It is the Lessee’s responsibility to maintain the property, keep it in good condition, and return it to
Lessor at the end of the Lease Term or otherwise as required by this Agreement, in the same
condition as when received by Lessee. Ordinary wear is excepted.

4. Failure to Return Property

If you fail to return the Leased Property as required, you will be liable to Lessor for its full retail value
(Lessor’s current retail price) in addition to all other payments and charges identified in this Lease
Agreement.

5. Restrictions

The Lessor shall not permit the Lessee to use the furniture for any activity or purpose that may cause
damages to the property, including discoloration, tears, or other such damages.
6. Penalty

The Lessee shall be held responsible and liable for damages to the furniture. In the event of a
violation of the restrictions, the Lessee shall pay the Lessor the full retail value (Lessor’s current
retail price) of the damaged items.

7. Security Interests

It is understood that this transaction is a lease and not a financing agreement or a conditional sale.
Ownership and title to the Leased Property remain vested in the Lessor. The Lessee may not grant a
security interest of any kind in the Leased Property. Lessee shall keep the Leased Property free and
clear from all attachments, levees, encumbrances, and liens. In the event that any person other than
Lessor attempts to create or assert an interest in the Leased Property, Lessee shall give Lessor
immediate notice and take such action as Lessor requires.

8. Extension

The lessee may request to extend the lease on a per day basis.

9. Termination and Cancellation

The parties may terminate this Agreement with immediate effect if violations occur. A notice of
termination will be given 1 day before the effective termination date.

Lessee may cancel the lease only 3 days prior to the pickup date.

10. Cancellation Penalty

There shall be no cancellation penalty. The lessee shall personally asked from the lessor the security
deposit/down payment that was made .

11. Governing Laws

This Agreement shall be governed by pertaining laws followed in the State of (state) where the
Lessor reside.
12. Warranties

Lessor will deliver the Leased Property in good condition. Lessor makes no other warranties, express
or implied, and specifically disclaims any warranty of fitness for a particular purpose or
merchantability.