Makers, Restorers and Dealers of Fine Violins, Violas, Cellos and Basses
I agree to pay as specified above for the rental of a string instrument outfit from Stearns Violins, Inc. 100% of the first year (12 months) of rental payments, and 50% of payments thereafter may be applied toward the purchase of a new instrument of equal or greater value (in the same instrument classification) from Stearns Violins, Inc. Rental instruments are not for sale. Payments are due on the 5th of each month and will be considered past due if payment is not received by the 25th of the month, thus incurring a $5.00 late fee, which cannot be applied toward purchase. 1.5% interest per month will be charged on all past due invoices. I give Stearns Violins, Inc. or their agent permission to check my credit. My Mastercard, Visa, American Express, or Discover Card number is provided as security for the instrument I am renting. Should my account become delinquent by 2 months (60 days) I hereby give permission to bill my rental account balance to bill my credit card listed below, or any updated number I provide on my account. If a delinquency of 3 months (90 days) should occur, all rental equity is forfeited, and the full purchase price of the instrument becomes due and collectible and the full price of the instrument may be charged to my card or submitted to a third party for collection, resulting in an additional $35.00 collection submission fee. I agree to pay all legal and collection costs related to the delinquency of this account, and give Stearns Violins, Inc., or their agent permission to terminate this contract without notice and to reclaim their instrument at the school if the rental is not paid as agreed. **A shipping fee will be added for customers renting violins and violas out of the area (cellos and basses are not available for non-local rental).
Returns must be made to Stearns Violins., 10341 Middlebranch Ave. NE. Hartville, OH 44632. Instruments left at a school without making arrangements with Stearns Violins, Inc., for pick-up on a regularly scheduled service call are not considered returned and rental fees apply until Stearns Violins, Inc., is physically in possession of the instrument. Rent will be due for the month on instruments that are returned after the 5th of the month. Return of the instrument without exercising the purchase option constitutes termination of this contract, and rental payments cannot be applied toward purchase at a later time.
I accept full responsibility for the instrument being rented, and understand that in case of loss, theft, serious damage, or failure to return the instrument on demand, I must pay the full price of the instrument. (For a small fee, fire, theft, or other serious damage may be covered by the Extended Maintenance Plan offered above.) Note: Intentional damage or negligent loss are not covered by the Extended Maintenance Plan. All repairs on rented instruments must be done in the Stearns Violins, Inc., repair facility.
Rental credit is accrued toward the eventual purchase of an instrument from Stearns Violins, Inc.,as outlined above. The purchase option must be initiated by the customer. Stearns Violins, Inc., is not responsible for notifying renters when equity has reached the equity limit. Rental equity has no cash value and can only be applied to the purchase of an instrument. Equity limits are as follows: Violin/Violas: $1,200.00, Cellos: $1,500.00, Basses: $1,800.00
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