This Rental Agreement (“Agreement”) is entered into by the student (and parent or legal guardian, if student is less than 19 years of age) (“Undersigned”) for the benefit of Collegiate Bed Loft Company, Inc., (“CBL”). The Undersigned desires to rent at least one product (bed loft, bed rail, bookshelf, bookcase-headboard, headboard, desk shelf, MicroFridge, or safe) from CBL pursuant to the terms of this Agreement. The Agreement is for the current fall semester and the following year’s spring semester (“Term”). The Undersigned hereby acknowledges and agrees that the school or university of attendance is not a party to this Agreement. The Rental Payment, plus applicable sales tax, shall be due and payable in full at the time of placing the order for a yearlong lease of any of Collegiate Bed Loft Company, Inc.’s products as listed above. The Undersigned acknowledges and agrees that he/she shall be liable for any and all damage caused the products leased and/or in the event the leased product is lost, stolen or deemed by CBL to be unusable up to the full replacement cost of the unit wear and tear excepted. The cost for replacement products are as follows: bed loft-$500, bed rail-$100, bookshelf-$500, bookcase-headboard-$450, desk shelf-$400 headboard-$400, MicroFridge-$500, and room safe-$250. You are liable for any and all products leased from Collegiate Bed Loft Company, Inc. Thus, the Undersigned further agrees and acknowledges that he/she is obligated to return possession of the leased product to CBL, at the end of Term, in accordance with the terms of this Agreement, including, without limitation, returning the leased product to CBL in satisfactory condition. The cancellation orders by the Undersigned or the return of any leased products by the Undersigned to CBL prior to the end of Term shall result in the forfeiture of the full Rental Payment, along with a fee to have the leased product picked up before the end of the Spring Semester. The order may be cancelled prior to installation, minus the cancellation/restocking fee at the discretion of CBL. There will NO REFUNDS on products that have been installed. There will be a fee if CBL has to pick any leased products before the end of Spring Semester. This fee is indicated on the FAQs on our webpage. These fees are subject to change at any time at the discretion of CBL.
The Undersigned acknowledges, understands and agrees that the use of any leased products involves certain inherent and/or assumed risks; falls, bumps, abrasions, cuts and other similar occurrences which may result in injury that is serious or fatal. The Undersigned acknowledges and accepts the fact that it is his/her responsibility to determine and implement whatever precautions may be necessary to prevent and limit such inherent and/or assumed risks from occurring and that CBL neither offers said services nor is it CBL’s responsibility or duty owed to the Undersigned regarding such matters. As additional consideration of renting CBL products, the Undersigned hereby acknowledges and personally assumes all risks, injuries and damages associated with the use any leased CBL product, whether foreseen or unforeseen, that may be experienced by the Undersigned and/or others. If The Undersigned has leased any of CBL’s products for the school year, The Undersigned agrees to abide by all applicable local, state, national and international laws and university policies and regulations during the Term of agreement. The Undersigned further agrees not to use the room safe for illegal purposes and authorizes CBL, its employees, agents or any third party to open the room safe at the request of the university or any local, state or federal law enforcement agency.
The Undersigned further agrees to release, indemnify and hold harmless CBL and the school or university of attendance, their affiliates and subsidiary corporations, respective employees, officers, agents, contractors or assigns, (hereinafter collectively referred to as ‘‘Released Parties’’) from any and all claims, liabilities and/or lawsuits for any injury, serious or fatal, or other damages caused to the Undersigned and/or others arising from and as a result of (a) the use of any leased product from CBL, (b) the negligence of the Undersigned, whether passive or active and/or (c) the risks assumed by the Undersigned under the terms of this Agreement.
I have read and confirm to the terms in the rental agreement.