Rental Policy

 

WOLF KUBOTA RENTAL

 

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TERMS & CONDITIONS

1. RENT: Customer agrees to pay Owner all rentals in advance beginning __________________. Rentals shall be payable at Owner’s
office unless otherwise specified. The rental rates set forth are straight-time rates based on an eight (8) hour day, forty (40) hours per
week, or 160 hours per month based on 28 days. Should the equipment be used longer than the specified hours the overtime rate shall
be 1/8th of the daily rate for each hour worked in excess of eight (8) hours in one day, 1/40th of the weekly rate for each hour worked
in excess of forty (40) hours in any one week; and 1/160th of the month rate for each hour worked in excess of 160 hours in any month
period. Owner will make no allowance for loss of time due to weather or surface conditions or suspension of work. The rental period
may be extended by written agreement.

2. CARE and CONDITION OF EQUIPMENT: Customer acknowledges receipt of the equipment in GOOD CONDITION. Customer shall
protect the equipment and shall exercise due care in its operation. The equipment shall be operated only by experience personnel.
Customer acknowledges full understanding of operating procedures and safety precautions prior to operating equipment. Customer
shall keep the equipment lubricated in accordance with manufacturer’s recommendations. Customer shall operate and maintain the
equipment and all of its components and parts at the Customer’s own expense using genuine original equipment manufacturer’s parts
and supplies and shall keep same in good repair and operating condition. Customer shall notify Owner of any malfunction in the
equipment which cannot be repaired on job site or at Customer’s place of business. Customer shall not deliver the equipment to any
repair shop other than Owner’s for repair or service nor install any accessories on or make any alterations to the equipment without
first obtaining Owner’s written approval. Owner shall have the right at all times to enter any job, building or location where the
equipment is being used for the purpose of inspection and Owner reserves the privilege of removing the equipment on twenty-four
(24) hours prior written notice it is being overloaded or taxed beyond its operating capacity or in any manner abused, neglected or not
properly maintained. Owner assumes no liability for loss of time or damages on equipment, accident, repairs, strikes or delays in the
delivery or removal of equipment.

3. WARRANTIES: Owner makes no express warranties unless same appear in writing, are signed by Owner and specifically refer to said
equipment and to this Contract. NO WARRANTY IS MADE THAT THE EQUIPMENT WILL SUIT CUSTOMER’S PURPOSE, THE SELECTION OF
THE EQUIPMENT HAVING BEEN MADE BY THE CUSTOMER NOR ARE THERE ANY WARRANTS OF MERCHANTABILITY NOR ANY OTHER
WARRANTEIS, EXPRESSED OR IMPLIED, WHICH EXTEND BEYOND THE DESCRIPTION OF THE EQUIPMENT OR, IF NEW EQUIPMENT,
BEYOND THE MANUFACTURER’S WARRANTY. Under no circumstance shall Owner be liable for loss of use, down time, or any other
consequential damages.

4. RETURN OF EQUIPMENT: Upon expiration of the term of this Contract, or upon earlier termination by Owner as herein provided,
Owner shall be entitled to immediate possession of the equipment. Before returning the equipment to Owner, Customer shall notify
Owner who will have a qualified representative inspect the equipment at Customer’s job site in order to determine the existence of
any damage beyond normal wear and tear. In the absence of such prior notice to Owner, Owner’s determination or damage beyond
normal wear and tear upon recovery of receipt of equipment shall be binding on customer. Customer shall be responsible for payment
of all transportation, loading unloading, storage and other delivery charges and expenses for the return of the equipment to Owner.
Equipment must be returned within normal business hours and located within the gated property or overage fees will apply. Damages
resulting from equipment returned outside the gated entrance after normal business hours remains the responsibility of the Customer.

5. DAMAGE TO EQUIPMENT: Customer shall assume liability and full responsibility for any damage (other than normal wear and tear)
to or loss of the equipment from the time it is shipped from Owner’s place to storage until it is returned thereto by Customer. The
phrase “normal wear and tear” as used in this Contract means wear or deterioration normally expected from operating of the
equipment and its components and parts while properly maintained and serviced and within the limitation of usage set forth in
Paragraphs 1 and 2 hereof.

6. TAXES: Customer shall pay all taxes, assessments, fees and penalties which may be levied or assessed on or in respect to the
operation, leasing, renting, possession or use of the equipment. Customer shall comply with all laws, regulations, and ordinances
applicable to the use, possession and operation of the equipment, and shall indemnify, defend and hold Owner harmless from any
consequences of Customer’s noncompliance.

7. INSURANCE: Customer, at its own expense, shall maintain in force adequate public liability insurance against bodily injury, death and
property damage resulting from the use of operation of the equipment Customer shall also keep the equipment insured at its full
replacement value against any loss or damage through accident, fire, weather condition, theft or malicious destruction. In addition,
Customer shall adequately insure the equipment against any other insurable risks to which the equipment is exposed and those which
Owner may designate. All such policies shall be subject to Owner’s approval and shall be payable to or on behalf of Owner and
Customer, as their interests appear. CUSTOMER SHALL DELIVER TO OWNER CERTIFICATES OF SUCH INSURANCE not to cancel such
insurance without at least ten-day notice of Owner. Customer agrees to indemnify, defend and hold Owner harmless from any injury,
death, or property damage resulting from Customer’s operation of said equipment.

8. OWNERSHIP: Title to the equipment shall at all times remain vested in Owner. Customer shall not have any right or option to
purchase the equipment nor release possession of the equipment unless same is in writing and attached hereto as a Rider. Owner may
finance the purchase price of the equipment and in conjunction therewith grant a security interest to the seller of said equipment and
it assigns. In the event of such financing, Customer hereby acknowledges that its rights under this Rental Contract are subject and
subordinate to the rights of the holder of any such assignment and receipt of notice thereof Customer shall make its rental payments
unconditionally directly to such assignee. Contract may not be altered or modified without the prior consent of such assignee. At
Owner’s request, Customer shall execute any financing statement, security agreement, subordination or similar instrument which
Owner deems is necessary to protect. Owner or is required by Owner’s assignee or mortgagee.

9. SUBLETTING or ASSIGNMENT: Customer shall not assign this Contract nor sublease the equipment nor allow others to use the
equipment nor release possession of the equipment without prior written consent of Owner and Owner’s assignee. Customer, at its
own expense shall protect and defend Owner, or Owner’s assignee, from the claims, liens and legal processes of creditors of Customer
and shall keep the equipment free and clear from any such claims. The equipment is and shall remain personal property. Customer
shall not permit the machinery to be encumbered, shall not sell or dispose of case, or permit the machinery to be moved to a location
other than the address shown herein and shall not permit any others to use the machinery without Owner’s written consent.

10. DEFAULT: Misrepresentation or concealment by Customer of any material fact relating to this Contract or Customer’s
nonperformance of any of its obligations hereunder shall constitute a default. In addition, Customer shall be deemed in default in the
event bankruptcy, receivership or insolvency proceeding are instituted by or against Customer of if Customer enters into any
assignment or agreement for benefit of creditors or in any manner discontinues its business. Customer shall also be deemed in default
if in the opinion of the Owner the equipment is being misused, abused, improperly maintained, wasted or allowed to deteriorate. Upon
Customer’s default, Customer shall be liable to Owner for all reasonable and actual expenses, including attorney’s fees, incurred by
Owner in the collection of monies and property resulting form the default.
Time is of the essence, and Customer shall make all rental payments due hereunder. Failure to make any such payment when due shall
constitute a default. UPON CUSTOMER’S DEFAULT, OWNER MAY TERMINATE THIS CONTRACT, WHEREUPON CUSTOMER’S RIGHT TO
USE THE EQUIPMENT SHALL CEASE FORWITH, but Customer shall remain liable to Owner for all unpaid rentals and other payments due
hereunder for the balance of the minimum guaranteed term of this Contract or until the equipment is returned to Owner, whichever
period is longer. In the event of such termination, Owner may (1) require Customer to return the equipment to Owner’s place of
business at Customer’s expense or at any other place Owner may reasonably direct Customer to deliver said equipment; or (2) Enter
upon Customer’s premises or job site to take possession of the equipment, AND CUSTOMER HEREBY SPECIFICALLY WAIVES ANY RIGHT
OF COURT HEARING PRIOR TO SUCH REPOSSESION. In the event of repossession, Customer shall be liable to Owner for all damages
necessarily and reasonably incurred by Customer in securing possession of the equipment including reasonable attorney’s fees, and
Owner may re-rent the equipment to any third party upon such terms as Owner shall determine. Owner may proceed by appropriate
court action to enforce performance by Customer of the terms of this Contract or to recover for the breach thereof. Owner’s rights
hereunder are cumulative and not alternative. Owner may waive any default or remedy without waiving any prior or subsequent
default or remedy, or without waiving any claim for damages.

11. IRREVOCABILITY: This Contract is irrevocable for the full term hereof and for the aggregate rental hereinabove reserved and the
rentals shall not abate by reason of termination of Customer’s right of possession or use, or Customer’s non-use of the equipment
and/or the taking of possession by Owner or for any other reason. Delinquent sums payable hereunder shall bear interest either at the
highest legal rate or 1.5% per month, whichever is less.

12. GENERAL PROVISIONS: (A) No oral agreement, guaranty, promise, condition, representation or warranty shall be binding. All prior
conversations, agreements or representation relating hereto and/or to the equipment are incorporated herein, and no modification
hereof shall be binding unless agreed to in writing by Owner.
(B) Time, indulgence or concession granted by Owner to Customer shall not alter or invalidate this Contract, or constitute a waiver of
any provisions hereof.
(C) The terms “Owner” and “Customer” as used in this Contract shall include the heirs, executors, administrators, successors or lawful
assigns of Owner and/or Customer.
(D) If more than one customer executes this Contract, their obligation shall be joint and several.
(E) This Contract shall be deemed a Michigan Contract and shall be governed by the laws of the State of Michigan in force on the date
of execution thereof. The invalidity or unenforceability of any provision hereof shall not affect the validity or enforceability of any
provision.

13. ACKNOWLEDGMENT: Customer acknowledges receipt of a copy of this Contract and agrees that the terms and conditions of the
transaction with Owner are correctly and completely stated herein.

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