RENTAL EQUIPMENT USE AGREEMENT / WAIVER OF LIABILITY

Last updated: February 5, 2024

This Rental Equipment Use Agreement / Waiver of Liability (the "Agreement") constitutes a legally binding contract entered into between Masters’ Supply, Inc., hereinafter referred to as the "Lessor," and the customer seeking to rent equipment, hereinafter referred to as the "Lessee." Masters’ Supply, Inc. offers a diverse range of high-quality rental equipment designed to meet the specific needs of our customers. This includes, but is not limited to, jackhammers, crimping tools, and pressing tools, collectively referred to as "equipment."

Rental Term

The Rental term starts the day the leased equipment is picked up by the Lessee or Lessee's authorized agent, or is delivered to or for the Lessee, and ends the day the equipment is returned to the Lessor. If the Lessor has specifically agreed to pick up the leased equipment, the rental term shall end on the date that the Lessee requests Lessor to pick up the leased equipment.

Inspection & Delivery

Lessee acknowledges receipt of the leased equipment. The parties agree that the leased equipment was inspected by Lessee at the time of delivery to and acceptance by the Lessee and that the leased equipment was in good and serviceable condition. By proceeding with the equipment rental, the Lessee acknowledges the thoroughness of our selection process and accepts the equipment's suitability for their intended use. Loading and unloading of the leased equipment in the Lessor's yard shall be supervised and directed by Lessee who assumes all responsibility therefore. Any identified defects or concerns should be promptly reported to the Lessor for immediate attention.

Title & Use

Title of the leased equipment is, and at all times shall remain in Lessor. Only the parties hereto and such other person which names are endorsed hereon are authorized to use the leased equipment, and Lessee will not permit said leased equipment to be used by any other person or at any address other than the place designated hereon without the express consent of Lessor. Lessee shall not make any alteration in the leased equipment, and shall not alter, deface, cover up or conceal any numbering, lettering, insignia or labels displayed on the leased equipment. Lessee will give Lessor immediate notice of any levy attempted upon said leased equipment, or if said leased equipment from any cause becomes liable to seizure and to indemnify Lessor against all loss and damages caused by any such action, including Lessor's reasonable attorney's fees and expenses.

DISCLAMER OF WARRANTIES & LIMIT ON LIABLITY

PARTIES AGREE THAT LESSOR IS NOT THE MANUFACTURER OF THE LEASED EQUIPMENT NOR THE AGENT OF THE MANUFACTURER AND THAT NO WARRANTY AGAINST PATENT OR LATENT DEFECTS IN MATERIAL, WORKMANSHIP OR CAPACITY IS GIVEN. THE PARTIES AGREE THAT LESSOR MAKES NO WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WARRANTY OF MERCHANTABILITY OR THAT THE LEASED EQUIPMENT IS, OR WILL BE, SUITABLE FOR ANY PARTICULAR PURPOSE, AND LESSOR MAKES NO PREPRESENTATIONS IN RESPECT THERE TO. THE LESSEE AGRESS TO INDEMNIFY AND HOLD LESSOR FREE AND HARMLESS (AS HERE AFTER DEFINED) FROM ANY AND ALL LIABLITY CAUSED OR ALLEGED TO BE CAUSED DIRECTLY OR INDIRECTLY BY THE LEASED EQUIPMENT, BY ANY INADEQUACY THEREOF, OR DEFECT THEREIN, OR BY ANY INCIDENT IN CONNECTION THEREWITH. LESSOR SHALL NOT BE LIABLE IN ANY EVENT TO LESSEE FOR ANY LOSS, DELAY OR DAMAGE OF ANY KIND OR CHARACTER RESULTING FROM DEFECTS IN OR INEFFICIENCY OF THE LEASED EQUIPMENT OR ACCIDENTAL BREAKAGE THEREOF.

Malfunctions & Repair

Lessee agrees that in the event any of the leased equipment becomes unsafe or in a state of disrepair, Lessee will immediately discontinue the use thereof and promptly return it to Lessor. Upon receiving the leased equipment, if its condition is not the fault of the Lessee, Lessor agrees to replace the leased equipment with equipment of like kind and in good working condition, within a radius of 10 miles of Lessor's business location. Lessee shall notify Lessor of all information related to an “occurrence” involving or in any way related to the leased equipment immediately, but in no event more than 12 hours after Lessee's discovery of such occurrence. An “occurrence” is defined as any disappearance, theft, or injury to person or leased equipment which is, or is claimed to be, or appears to have been, injured or damaged on, by or around the leased equipment. Lessee agrees to secure and maintain all leased equipment and surrounding premises, in the condition existing at the time of any “occurrence”, until such time as the Lessor, or any of its authorized agents, investigators, attorneys or other designated persons, inspects or investigates said equipment and/or premises. Lessor shall have the exclusive right to reclaim any leased equipment involved in any “occurrence” and to thereafter replace same with comparable equipment.

Return of Leased Equipment

Unless Lessor has expressly agreed in writing to deliver or pick up the leased equipment, upon termination of this agreement, Lessee will promptly return the leased equipment and all attachments and parts belonging thereto, to the Lessor at Lessor's place of business, in the same condition in which such leased equipment was received, ordinary wear and tear consistent with proper usage  excepted, and agrees to pay for any damage to or loss of such leased equipment while in the possession or control of Lessee hereunder. Lessee agrees to pay to Lessor its usual cartage charges for delivery and pickup of equipment. Time spent by Lessor's driver locating equipment, dismantling scaffold, loading, etc., will be charged at Lessor's then current hourly rate. Lessee hereby waives all rights in and to any and all claims of subrogation that it may have against the Lessor existing in the laws of this state, which are within the power of Lessee to waive, Lessee will not retain the leased equipment beyond the “Due in” time without prior notice to and the consent of Lessor thereto. Lessee will pay rental price in advantage or immediately upon the return of leased equipment. Lessor, at Lessor's sole discretion, may report leased equipment stolen if held (5) days beyond the “Due In” date Lessor, at Lessor's sole discretion, may revert all changes to the daily rate if any monthly statement or invoice is not promptly paid. The Lessee shall pay a cleaning fee of $100.00 for equipment returned that, at the Lessor’s sole discretion, requires cleaning prior to restocking said equipment.

Safety Regulations

Lessee shall: (1) erect, maintain and use the leased equipment in a safe and proper manner; (2) comply with all applicable laws, ordinances, rules, regulations and orders of any public authority, including, but not limited to all Federal Occupational Safety and Health Act (OSHA) regulations, specifically 1926 Support L, all state regulations, having jurisdiction for the safety of persons or property; and will comply with any rules of regulations promulgated by Lessor (in particular the SIA/ANSI.92 directives) with respect to the leased equipment, its manner of erection and use. Lessee acknowledges and understands that manufacturer manual/operating instructions are available upon Lessee request and agrees that Lessee and all of Lessee's employees will at a minimum comply with all safety provisions. Lessee agrees to obtain, provide and use all safety equipment. The Lessee affirms that they have the capability to comprehend and follow safety instructions and willingly assume the responsibility for their safety during equipment use.

INDEMNIFICATION

LESSEE SHALL INDEMNIFY AND DEFEND LESSOR AGAINST AND HOLD LESSOR HARMLESS FROM ANY AND ALL CLAIMS, ACTIONS, SUITS, PROCEEDINGS, COSTS, EXPENSES, DAMAGES AND LIABILITIES, INCLUDING ATTORNEY'S FEES, WHICH:

1. RELATE TO INJURY OR TO DESTRUCTION OF PROPERTY, OR BODILY INJURY, ILLNESS, SICKNESS, DISEASE OR DEATH OF ANY PERSON (INCLUDING EMPLOYEES OF LESSEE); AND

2. ARE CAUSED OR CLAIMED TO BE CAUSED, IN WHOLE OR IN PART BY THE EQUIPMENT LEASED HEREIN OR BY ACTS OR OMISSIONS (INCLUDING ACTIVE, PASSIVE, PRIMARY OR SECONDARY) OF LESSOR, OR ANY OF THEIR RESPECTIVE AGENTS OR EMPLOYEES, OR ANYONE FOR WHOSE ACTS OF THEM MAY BE LIABLE. THE PARTIES AGREE THAT LESSOR SHALL ONLY BE LIABLE OR RESPONSIBLE FOR ITS AND ITS EMPLOYEES' ACTIONS OF WILLFUL MISCONDUCT. LESSEE SHALLALSO INDEMNIFY AND HOLD LESSOR HARMLESS FROM ALL DAMAGE TO OR LOSS OF THE LEASED EQUIPMENT, OTHER THAN ORDINARY WEAR AND TEAR. LESSEE LIABILITY, WITH RESPECT TO THE FOREGOING SENTENCE, SHALL NOT EXCEED LESSOR'S LIST PRICE IN CONNECTION WITH THE PURCHASE OF THE LEASED EQUIPMENT.

Lessee shall, at its own cost and expense, defend Lessor against all suits or proceedings commenced by anyone in which Lessor is a named party for which Lessor is alleged to be liable or responsible as a result of or arising out of the leased equipment, or any alleged act or omission by Lessor, and Lessee shall be liable and responsible for all costs, expenses and attorneys fees incurred in such defense and/or settlement, judgment or other resolution. In the event that such action is commenced naming Lessor as a party, Lessor may elect to defend said action on its own behalf and Lessee agrees that it shall be liable for all costs, expenses and attorneys fees incurred by Lessor in such defense.

IT IS THE PURPOSE OF THIS CLAUSE TO SHIFT THE RISK OF ALL CLAIM-RELATING OF THE LEASED EQUIPMENT TO THE LESSEE DURING THE ENTIRE TERM OF THIS CONTRACT.

Applicable Law

This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Kentucky and the State of Indiana, without regard to its conflict of law principles. Any disputes arising out of or in connection with this Agreement, including any questions regarding its existence, validity, or termination, shall be resolved in accordance with the laws of the Commonwealth of Kentucky and the State of Indiana. This Applicable Law Clause is intended to apply to all business locations within the states of Kentucky and Indiana.

Jurisdiction & Venue

This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Kentucky and the State of Indiana, without regard to its conflict of law principles. Any legal action, suit, or proceeding arising out of or relating to this Agreement shall be brought exclusively in the state or federal courts located within the Commonwealth of Kentucky and the State of Indiana, and each party consents to the personal jurisdiction of such courts. The parties agree that any dispute arising under or in connection with this Agreement, whether in law or in equity, shall be resolved in the aforementioned courts, and each party waives any objection based on forum non-convenience. This Jurisdiction and Venue Clause is intended to apply to all business locations within the states of Kentucky and Indiana.

By proceeding with the equipment rental, the Customer affirms having read, comprehended, and willingly agreed to the detailed terms and conditions outlined in this Rental Equipment Use Agreement / Waiver of Liability.