Equipment Leasing Agreement
Revision Date: 04/18/2022
This leasing agreement is entered into by Bike Rental Central Park hereinafter known as the “Lessor” and ___________________________ (individual or group) with email ______________________________ hereinafter known as the “Lessee”. The Lessor may lease out any of the following items to Lessee: any bicycles, electric bicycles, electric scooters, helmets, locks, chains, baskets, trailers, baby seats, and any other item hereinafter known as the “Equipment”
Leasing Agreement Terms:
- In consideration of the risk of physical injury, pain, property damage, direct or consequential loss, any other damage, delay, inconvenience, however caused, and any other dangers associated with this leasing agreement, I, the Lessee, hereby for myself, my heirs, executors, administrators, assigns, or personal representatives, release, waive and discharge the Lessor, and any of Lessor’s directors, officers, employees, representatives, assignees, successors, shareholders, and agents from any liability and warranties for and from any and all claims including but not limited to negligence, physical injury, property damage, accidents, illnesses, pain, regardless of severity.
- I, the Lessee, hereby assert that my participation in this leasing agreement is voluntary and that I knowingly assume all risks associated with the aforementioned leasing agreement, and I waive any and all rights, claims, or causes of action arising out of my participation in my leasing agreement.
- I, the Lessee, agree that any dispute, controversy or claim arising out of or in regards to this leasing agreement shall be settled by binding arbitration in accordance with the laws of New York State, before a single arbitrator of the American Arbitration Association (“AAA”). The arbitration process including but not limited to payments, administration and fees will be conducted under the AAA regulations and rules.
- I, the Lessee, agree that any dispute arising out of or related to this leasing agreement is personal to me and Bike Rental Central Park and that such dispute will be resolved solely through individual arbitration and will not be brought as a class arbitration, class action or any other type of representative proceeding. I, the Lessee, agree that there will be no class arbitration or arbitration in which an individual attempts to resolve a dispute as a representative of another individual or group of individuals. Further, I, the Lessee, agree that a Dispute cannot be brought as a class or other type of representative action, whether within or outside of arbitration, or on behalf of any other individual or group of individuals.
- I, the Lessee, agree to indemnify and hold harmless the Lessor, their directors, officers, employees, agents, assignees, representatives, successors, shareholders and released parties from any and all liability arising from any accidents, adversity, misfortune or negligence before, during and after the leasing period or in any other liability whatsoever which is associated with this leasing agreement in perpetuity. Further, I, the Lessee, agree to indemnify and hold harmless Bike Rental Central Park for any and all claims, suits or actions of any kind that would be associated with me or anyone on my behalf, including but not limited to legal fees and any related costs that may arise from such actions.
- I, the Lessee, agree to accept any and all rented Equipment associated with this leasing agreement, including but not limited to any bicycles, electric bicycles, electric scooters, helmets, locks, chains, baskets, trailers, baby seats, in “AS IS” and “WHERE IS” and with “ALL FAULTS” condition. I, the Lessee, agree that Bike Rental Central Park has made no representation or warranties express or implied or statutory under this leasing agreement as to the physical condition of the rented equipment.
- I, the Lessee, agree to operate the Equipment in accordance with current NYC traffic laws and restrictions at all times during the specified leasing period. I, the Lessee, agree to return all Equipment to the Lessor in the same condition the Equipment was received.
- I, the Lessee, agree to return the Equipment not later than the end of the leasing period specified in the lease agreement. If the Lessee does not return the Equipment by the end of the leasing period specified in this lease agreement, the leasing period automatically extends until the closing time of the bike rental location with address 1391 Avenue of the Americas, New York NY 10019. In the event the leasing period is automatically extended, the Lessee agrees to pay to the Lessor and agrees to pay a higher rate of $15 per hour per standard bike, $30 per hour per tandem, $25 per hour per E-scooter/E-bike upon return for every hour or portion thereof.
- I, the Lessee, agree that any bike insurance, if applicable or purchased, may cover 100% of damage caused to the “Equipment” (excluding E-bikes/E-scooters and tandems) by unanticipated wear and tear (accident, potholes, road conditions).If the “Equipment” (E-bikes/E-scooters and tandems INCLUDED) are lost, stolen, missing or damaged during the leasing period, the Lessee agrees to reimburse the Lessor in full and without delay, the full cost of the “Equipment” ($300 per standard bike, $1000 per tandem, $1200 per E-scooter, $2400 per E-bike) lost, stolen or not returned.
- I, the Lessee, agree to return all “Equipment” and accessories to the original location at 1391 6th Avenue, New York, 10019 upon conclusion of the specified leasing period.
- I, the Lessee, agree that ALL SALES ARE FINAL WITHOUT EXCEPTION and absolutely no refunds will be awarded for any unused rental time and/or failed “Equipment”.
I, THE LESSEE, HAVE READ THIS LEASING AGREEMENT AND I ACKNOWLEDGED THAT I FULLY UNDERSTAND ITS TERMS, UNDERSTAND THAT I HAVE GIVEN UP SUBSTANTIAL RIGHTS BY AGREEING TO THIS LEASING AGREEMENT, AND HAVE AGREED TO THE TERMS OF THIS AGREEMENT FREELY AND VOLUNTARILY WITHOUT ANY INDUCEMENT, ASSURANCE, OR GUARANTEE BEING MADE TO ME AND INTEND MY AGREEMENT TO THESE TERMS AND CONDITIONS TO BE COMPLETE AND UNCONDITIONAL RELEASE OF ALL LIABILITY TO THE GREATEST EXTENT ALLOWED BY LAW.