Lease to Buy/Hire agreement

Artwork Owner : Leanne King (Crackerjack Photographic Studios) 148 Springbank rd, Torrens Park, Adelaide 5062

Lease to Buy Purchaser :.................................

Weekly Hire Fee: ..........................................

The following information is the agreement between the owner and the purchaser/lessee

By signing and dating this document and selecting the lease /hire period the purchaser is bound by the terms outlined and the conditions herein.

Conditions: The purchaser agrees to the lease of the artworks  for the period set out below. On commencement of the lease the lessee can purchase the artworks for a nominal residual fee outlined below or renew the contract with a new set of artwork.

The purchaser agrees to pay the fee on a monthly basis, by direct deposit, with subsequent payments continuing every 4 weeks into the owners nominated account until the conclusion of the hire period. The first payment is due at the commencement of the lease period.

 

The purchaser will see to the direct deposit schedule being set up to enable the payment to be received by the beginning of each month with their nominated financial institution. If using internet banking please tick the box to ensure an email confirmation is sent to (leanneking@internode.on.net) when paid. Please enter your name as a reference for payment. 

Short term rentals must be paid in full in advance by cash/cheque or direct deposit

Real Estate rentals must be for a 1 month minimum and paid for in advance on a monthly basis.

If a short term rental would like to buy or lease to buy artwork then the initial rental fee is deducted

Once completed your artwork will be delivered.

Delivery of the nominated artwork will take place once the agreement has been signed and the first month paid.

(please tick an option below)

* Short term hire (as negotiated) .....  Please state hire term...............Combined Value of Art..................residual payment to own............

* 24 week hire term (6 payments)...............No of artworks.................Combined Value of Art..................residual payment to own............

* 52 week lease term (12 Payments)......... ..No of Artworks.................Combined Value of Art..................residual payment to own...........

* 24 month lease to buy (24 payments)...... No of Artworks.................Combined Value of Art..................residual payment to own...........

The owner agree to have the artwork(s) delivered to any premises in and around the Adelaide CBD. If the purchaser is more than 15 km past this then a delivery fee will apply in addition to the lease fee.

The Owner agrees to collect the nominated artworks at the completion of the agreement from any premises within the 15 km radius of the Adelaide CBD without charge. If the leesee is outside of this area then it is his/her resonsibility to return the artwork(s)

The Lessee warrants that he/she fully understands this contract and that the particulars of this agreement are correct in every respect and are not misleading in any way, without limitation, by omission, and that the lessor will not breach any copyright or other restriction in relation to or in connection with the nominated artworks. In the case of paintings the intellectual copyright remains with the artist and in the case of photographic artwork the copyright will remain with the photographer regardless of ownership of the print. This means the content cannot be copied or reproduced in any way.

The Leesee agrees to

1) keep the nominated artwork(s) in pristine condition

2) report any damage or loss of the nominated artworks, immediately such damage or loss occurs.

3) be liable for any breach of the agreement by the lessees servants or agents

Repossession: The owner may repossess the artwork(s) if the lessee breaches any provision of this agreement.

Title to Goods: The lessee acknowledges that the owner retains the title to the nominated artworks. The lessee agrees not to offer or purport to sell, assign, sub-let, lend, pledge, mortgage, let,or hire or otherwise part with the nominated artwork(s) or make any addition or alteration to or repair of, the nominated artworks.

Insurance: The lessee is required to maintain the following insurances during the lease period

a) General insurance: insurance of the nominated artworks for their full insurable value against damage or theft, and

b) Public risk insurance to the nominated artwork(s) including damage to any person or property or personal injuries. By signing this agreement the lessee agrees that any potential public liability claim resulting from the location of the nominated artworks at the lessees premises, must be covered by the lessees own insurance policy. The owner will not accept responsibility for any public liability claims at any time.

Indemnity:

the leesee indemnifies and holds harmless the Owner against all actions, claims and proceedings, costs, losses, expenses, including legal fees whatsoever and howsoever caused, or arising out of, connected with, or resulting from the hire/lease of the nominated artwork(s) itself including without limitation the manufacture, selection, delivery,possession,use, operation and return or any and all damages or injuries caused thereby to anyone whatsoever.

Please sign and date the agreement acknowledgement below

I have read, fully understand and accept the terms of the agreement as stated above

 

Name of Lessee..................................................................Company name .............................................................................

Signature 1.........................................................................Signature 2....................................................................................

Date....../......./.........                                                                             Date....../......./.......

 

Bank Deposit Details

Crackerjack Photographic Studios

BSB 065140

Acc: 10216882