1. The renter shall, at his own cost and expense, during the term of rental, keep and maintain, in his own custody, the equipment in good state of condition and repair, reasonable wear and tear excepted, and shall at the termination of the rental replace such of the said equipment as may be lost, stolen, missing, broken or damaged, otherwise than by reasonable wear and tear, by others of a similar nature and of equal value or shall pay to the owner compensation on account of any of the said articles which may be lost, stolen, missing, broken or damaged.
2. The renter further agrees to assume full responsibility for all the equipment rented, and also agrees to compensate KVL AUDIO VISUAL SERVICES to the full value should said equipment be lost, stolen, missing, broken or damaged by any cause whatsoever, whether due to renter's fault or not. The renter further agrees to compensate the owner in rent for any time lost as a result of replacement or the necessity for making repairs on said equipment lost, stolen, missing, broken or damaged or otherwise than as the result of reasonable wear and tear.
3. The equipment herein shall be delivered and returned by the renter at his own risk, cost and expense. Rental of all equipment taken out must be paid for the period of time until it is returned to KVL AUDIO VISUAL SERVICES. The renter further agrees to pay the per diem rental rate for each day past the due date. No allowance will be made for any reason.
4. If the renter shall default on any of the terms, covenants and conditions herein, or in punctually making any of the payments aforesaid, or if any execution of other writ or process shall be issued in any action or proceeding against the renter, whereby the said equipment may be seized, taken or distrained, or if a proceeding of bankruptcy, receivership or insolvency shall be instituted by or against the renter or his property, or if the renter shall enter into any arrangement of compensation with his creditors, or in the event that any
judgement is obtained against the renter, then and in any such event, KVL AUDIO VISUAL SERVICES shall have the option to retake immediate possession of said equipment and for such purposes, KVL AUDIO VISUAL SERVICES, its agents and employees, may enter upon any premises where said equipment may be, and may remove the same therefrom, with or without force and with or without notice of intention to retake the same, without being liable to any suit or action or other proceeding by the renter.
5. The renter agrees to pay all reasonable attorney's fees and costs incurred by KVL AUDIO VISUAL SERVICES in protecting its rights or property under this agreement or in suing the renter for a breach of agreement. The renter hereby waives trial by jury.
6. The acceptance of the return of the rented equipment is not a waiver by KVL AUDIO VISUAL SERVICES of any claims that it may have against the renter, and is not a waiver of claims for latent or patent damage to the equipment.
7. This agreement contains the entire understanding between the parties, including representations, an d may not be modified except by another agreement in writing, signed by both parties to this agreement.
8. No terms, representation or warranty, express or implied, not herein set froth in writing shall bind KVL AUDIO VISUAL SERVICES.
9. The renter agrees not to pledge, mortgage or in any way incumber the property herein.
10. The renter, or his agent, has examined and tested the equipment herein described as has found the same to be in good workable mechanical condition.
11. Any usage of equipment during a calendar day (12am-11:59pm) incurs one full day's rental fee.