| 09 May 2010
RENTAL - PURCHASE DISCLOSURES
You may rent one of our storage buildings under our rent-to-own program. Of course, a cash purchase is simpler and costs you less. But renting a portable buildings in your own back yard beats renting a self-storage unit across town. And if you rent a portable building for 36 months, you will own it. It’s that simple. Better yet, you can pay it off at any time by paying 60% of the balance remaining on the 36-month rent-to-own program.If you need more space for a short time, we can rent a portable building to you a month at a time until you are finished with it.
We do not rent cabins or any building that we build on site. If you need financing for a cabin or built-on-site building, we suggest that you contact your bank for financing.
Rental Purchase Agreement
| Lessor: Better Built Barns 11809 S Washington Rd Perkins, OK 74059 Telephone: 405-547-2066 v | Renter: ________________________ ________________________ ________________________ ________________________ |
Terms of Agreement
In this agreement “you” and “your” mean the person or persons signing this agreement as renter. “We” and “our” mean the Lessor/Owner (i.e., the rental company). “Lease” means this Rental Purchase Agreement including all disclosures. The optional Damage Waiver Fee may be referred to as DWF.
Rental Purchase Disclosures
| 1.Rental Term: 1 Month | Next due date: _______________ | |
| 2.Description of the Property and Rental Rates | Description: _______________ Serial: _______________ Condition: _______________ Rent + tax: _______________ | |
| 3.Initial Rental Payment | Your initial rental payment will include the following charges: Rent: _______________ Delivery: _______________ Sales Tax: _______________ Optional DW Fee: _______________ Deposit: _______________ Total: _______________ | |
| 4.Rental Period and Amount of Payment: | ____ monthly payments @ $______(+ $____ tax) for a monthly payment of $____. | |
| 5.Other Charges | In house collection: _______________ Late/ Reinstatement FeeNSF Charge: _______________ Optional Damage Waiver Fee: _______________ | |
| 6.Total Cost to acquire ownership: | If you choose to rent to own, you must renew this lease for the following number of terms. The total cost includes all costs included in the initial rental payment, but does not include other charge you may incur. ____ monthly payments @ $______(+ $____ tax) for a total cost of $____. | |
| 7.Our cash price for this property is: | $______ = [$______+tax] | |
| 8.Early Purchase Option | If you wish to purchase the rental property, you may do so at any time by the payment of 60% of the remaining Total Cost calculated at that time. | |
| 9.Risk of Loss | You are liable for all destruction, loss and damage to the property in excess of normal wear and tear up to the amount of $2100.0. If you pay the optional Damage Waiver Fee, we assume responsibility for an “act of God” that damages or destroys the building. | |
| 10.Reinstatement | If this lease expires and you request that the lessor picks up the rental property, you may reinstate it for the same or a comparable property within 60 days of the expiration date by paying any rental payments and other charges that are due. |
Type of transaction: This is a Rental transaction. You may use the property for the term of the lease. At your option, you may renew this lease. To do this, you must make a rental payment in advance for each term for which you wish to rent the property. The rental rates are shown above. Timely payments are absolutely essential in this lease. There are no grace periods.
Termination: You may voluntarily terminate this lease at the end of any term of rent with no penalty. To do this, you must request that the lessor pick up the rental property. You must pay all rental and other charges due through the date of return.
Assignment: We may sell, transfer, or assign this lease without notice to you.
Title, maintenance and taxes: We retain the title to the property at all times and will pay any taxes which might be leveed on the property. Yo do not own the property unless you buy it or acquire ownership as provided by the terms of this lease agreement. We will maintain the property in good working order as long as you rent it.
Our rights to take possession: If you do not renew this lease, we have the right to take possession of the property without breach of peace.
Forbidden acts: If you sell, mortgage, pawn, pledge, encumber, hock, dispose of the property, or move it from your current residence, without our consent, you will have breached this lease agreement, and we will have the immediate right to possession of the property.
Intent: You agree that by signing this lease your intent is to rent rather than purchase the property.
Notice to Renter: Do not sign this Rental Agreement before you read it or if it contains any blank spaces. You are entitled to an exact copy of the Rental Purchase Agreement you sign. Keep it to protect your legal rights.
By signing this lease, you admit that you have read it, that you understand it, and that you have received a signed copy of it. You also admit that property is in satisfactory condition.
WITNESS: ______________________
RENTER: _______________________
DATE: ___________________
LESSOR: Better Built Barns
CO-RENTER: ______________________