Rental Agreement

OLSON FAMILY SERIES LLC RENTAL AGREEMENT Easy Wash Rentals Series | Easy Wash Appliances Series 1. Preamble This Rental Agreement ("Agreement") is entered into as of the date of execution ("Effective Date") by and between Olson Family Series LLC, a Texas Series Limited Liability Company ("Master LLC"), acting by and through its separate series: Easy Wash Rentals Series ("Management Series"), and Easy Wash Appliances Series ("Appliances Series"), and the undersigned customer ("Renter"). This Agreement sets forth the terms under which the Renter will lease home appliances and related equipment ("Equipment") as identified on the Invoice, under the management of Easy Wash Rentals Series and subject to Equipment ownership and maintenance by Easy Wash Appliances Series. 2. Recitals Whereas, Easy Wash Rentals Series manages customer relationships and administration pertaining to rentals, and Easy Wash Appliances Series retains all rights of ownership, pre-rental repair, and disposition for the Equipment; Whereas, Renter desires to rent certain Equipment under these terms, and all parties agree to the revenue and management structure defined herein; Now, therefore, in consideration of the mutual covenants contained herein, the parties agree as follows: 3. Definitions • Management Series: Easy Wash Rentals Series, responsible for customer interaction, rental administration, and management fee collection. • Appliances Series: Easy Wash Appliances Series, the lawful owner of all rental Equipment, responsible for pre-rental repair and asset disposition. • Renter: The individual or entity identified as renting Equipment under this Agreement. • Equipment: The washer, dryer, or other appliances described on the Invoice, owned by Appliances Series and managed by Management Series. • Invoice: The document specifying the Equipment, Monthly Rate, Deposits, and all applicable fees. • Monthly Rate: The recurring rental fee specified on the Invoice and due per Section 5. 4. Obligations of the Parties 4.1 Renter Obligations • Use Equipment solely at the delivery address and in accordance with manufacturer instructions. • Facilitate prompt Equipment pickup upon termination, ensuring presence or written authorization of Renter or building manager. • Maintain Equipment in good condition, promptly report defects, refrain from unauthorized repairs or relocation, and bear liability for damage beyond ordinary wear. • Comply with payment terms and promptly provide official notice of any change in address or contact information. 4.2 Management Series Obligations • Administer this Agreement, invoice all charges, facilitate delivery, customer support, ACH processing, and notification according to Section 13. • Remit 90 percent of rental proceeds to Appliances Series and retain a 10 percent management fee on amounts collected. 4.3 Appliances Series Obligations • Retain full legal ownership of Equipment, provide for pre-rental repair and replacement, and authorize Management Series to act as management agent for all customer interactions. • Enforce property rights and legal remedies against defaulting customers, including actions necessary for recovery of Equipment or value thereof. 5. Payment Terms 5.1 Rental Payments • Renter shall pay the initial Monthly Rate ($50), Delivery Fee, Security Deposit, and all taxes prior to delivery, as specified on the Invoice. • Subsequent Monthly Rates (inclusive of applicable taxes) are due on the same day each calendar month during the rental term. • All payments shall be made via ACH transfer and are subject to the ACH Payment Authorization Terms provided in this Agreement. 5.2 Internal Revenue Sharing • All gross rental payments received from Renter are payable directly to Appliances Series. • Management Series shall collect a management fee equal to 10 percent of amounts actually collected from Renter. The remainder is the property of Appliances Series. 5.3 Fees and Charges • Late Fee: $5 per equipment per month (or $10 if renting two appliances or a stackable unit), plus $1 per day plus applicable tax until the balance is paid. • Delivery or Rescheduling Fee: $35 per event. • Transfer/Move Fee: If Renter requests relocation of the Equipment to a different residence within the first three (3) months following delivery, a $35 transfer fee will apply. All relocations require prior approval by Management Series, and the new address must remain within Easy Wash Rentals' service area. Relocation of Equipment without prior approval is prohibited. • Failed Payment/ACH Return Fee: A $5 fee will be charged for each ACH payment that is returned, declined, reversed, or otherwise fails due to insufficient funds, a closed or invalid account, or another reason attributable to the Renter or the Renter's financial institution. This fee is in addition to any applicable late fees and the unpaid rental amount. • Pick-Up Fee: May be charged if Equipment pick-up is attempted but not completed due to failure by Renter or authorized representative to provide access. • Replacement Fee: Fair market value of missing or unreturned Equipment, plus applicable fees and expenses, may be withdrawn from Renter's account in the event of default as provided by this Agreement. Renter acknowledges and agrees to the fees and charges stated in this Agreement. 6. Term and Termination 6.1 Initial Term The minimum initial leasing term is four (4) months, commencing on the delivery date of Equipment. Thereafter, the Agreement continues on a month-to-month basis until terminated in accordance with this Section. 6.2 Termination by Renter • Renter may terminate this Agreement by providing thirty (30) days' written notice delivered by both email and postal mail to Management Series. • Rental payments will continue until Equipment has been retrieved by Management Series or its designee. • Final month's rent is not prorated. Renter agrees to coordinate prompt return or pickup of Equipment. 6.3 Termination by Olson Family Series LLC • This Agreement may be suspended or terminated for default and nonpayment in accordance with applicable provisions of this Agreement. • Upon any termination or expiration, all Equipment must be immediately surrendered in good condition, ordinary wear excepted. 7. Confidentiality Clause Each party agrees to maintain confidentiality of all customer, financial, and operational information relating to the other parties and the Equipment, except as required by law or expressly authorized by this Agreement. 8. Intellectual Property Rights All trademarks, business processes, and proprietary technology relating to the Equipment, rental operations, or Easy Wash Appliances and Rentals Series remain the exclusive property of Olson Family Series LLC or its designated Series entity. This Agreement does not grant any intellectual property license except as necessary for use of the rented Equipment. 9. Warranties and Representations • Appliances Series represents it is lawful owner of the Equipment and entitled to lease it. • Equipment will be delivered in working order, free from known material defects at commencement of the term. Renter must inspect Equipment upon delivery and report defects within three (3) business days. • NO WARRANTIES, EXPRESS OR IMPLIED, INCLUDING MERCHANTABILITY OR FITNESS FOR PURPOSE, ARE EXTENDED, except as stipulated above. • Renter warrants that Equipment will be used in accordance with manufacturer's instructions, at the address stated on the Invoice, only for residential use, and not for commercial or unauthorized purposes. 10. Indemnification Clause Renter agrees to indemnify, defend, and hold harmless Olson Family Series LLC, including without limitation Easy Wash Appliances Series LLC and Easy Wash Rentals Series LLC, and their respective officers, members, managers, agents, and affiliates, from and against any and all claims, liabilities, damages, costs, and expenses (including reasonable attorney's fees) arising from the Renter's use, misuse, relocation, or loss of the Equipment, except to the extent such liabilities cannot be disclaimed under applicable law. 11. Limitation of Liability • Neither Olson Family Series LLC, Appliances Series, nor Management Series shall be liable for indirect, incidental, special, or consequential damages, or for losses due to Equipment malfunction, water, fire, or electrical issues. Renter assumes all responsibility and is advised to maintain renters' insurance. • The aggregate liability of all Series entities shall not exceed the actual amount paid by Renter under this Agreement, except in cases prohibited by law. 12. Dispute Resolution Clause • Any dispute or claim arising out of this Agreement shall, if requested by either party, be resolved by binding arbitration in accordance with the Federal Arbitration Act and the Consumer Due Process Protocol of the American Arbitration Association (AAA), unless otherwise agreed in writing. • Each party shall bear half of the arbitrator's fees, unless Renter demonstrates financial hardship, in which case Management Series will bear the entire fee. • Upon election of arbitration by either party (including after initiation of legal proceedings), both parties waive any right to a jury trial or court decision. • If required, Renter will initial or sign their consent to this arbitration clause. 13. Official Notices • All notices to Renter shall be delivered by both email (to the address provided in the application) and by first-class postal mail to the address on file. • Notice is deemed effective upon the earlier of actual receipt or three (3) days after deposit in U.S. mail and email transmission. • Any notice by Renter to terminate or otherwise under this Agreement must be delivered by both email and postal mail to the contact address specified on the Invoice. 14. Force Majeure Clause No party shall be liable for delay or failure to perform due to circumstances beyond its reasonable control, including but not limited to acts of God, natural disasters, war, or government restrictions, subject to prompt notice and efforts to mitigate. 15. Miscellaneous Clauses • This Agreement constitutes the entire understanding between the parties and supersedes all prior agreements or representations. • No waiver of any breach shall be deemed a continuing waiver. • If any provision is determined to be invalid, the remainder shall remain effective. • Except as otherwise authorized by law and this Agreement, no credit report may be obtained without express consent. • This Agreement shall be governed by the laws of the State of Texas. • This Agreement is binding upon and inures to the benefit of the parties and their respective successors and assigns; assignment by Renter is prohibited without prior written consent. 16. ACH Authorization Clause Olson Family Series LLC, doing business as Easy Wash Rentals. By signing this Agreement, the Customer ("Renter") authorizes Olson Family Series LLC, operating through its series Easy Wash Rentals (the "Company"), to electronically debit the bank account provided through Stripe, the Company's third-party payment processor, for all rental fees, charges, applicable late fees, Failed Payment/ACH Return Fees, damages, or unpaid balances due under this Agreement. 16.1 Authorization for Recurring and One-Time Payments The Renter authorizes Olson Family Series LLC, through its series Easy Wash Rentals, to initiate recurring ACH debits for scheduled payments and one-time debits for outstanding amounts due under this Agreement, including rental fees, approved fees and charges stated in Section 5.3, and related services, via Stripe's secure payment platform. 16.2 Revocation of Authorization This authorization shall remain in effect until all outstanding balances owed to Olson Family Series LLC, through Easy Wash Rentals, are paid in full. The Renter may revoke this authorization by providing written notice to the Company at least 10 business days before the next scheduled payment and by updating their payment settings through Stripe's platform, if applicable. Revocation does not release the Renter from financial obligations under this Agreement. 16.3 Non-Payment and Disputed Transactions If an ACH payment processed through Stripe is declined, returned, reversed, or disputed without valid cause, Olson Family Series LLC, through Easy Wash Rentals, reserves the right to: • Attempt to process the payment again via Stripe; • Assess the $5 Failed Payment/ACH Return Fee described in Section 5.3; • Charge any applicable late fees; and • Take further action, including collections or legal recourse, to recover the unpaid balance owed to Easy Wash Rentals. 16.4 Liability for Unauthorized Transactions The Renter agrees to notify Olson Family Series LLC, through Easy Wash Rentals, immediately if they believe an unauthorized ACH withdrawal has occurred through Stripe. The Company is not liable for overdraft fees, bank penalties, or other charges incurred due to authorized ACH debits under this Agreement. 17. Renter's Insurance Acknowledgment LESSEE ACKNOWLEDGES AND AGREES THAT THEY ARE REQUIRED TO MAINTAIN AN ACTIVE RENTER'S INSURANCE POLICY FOR THE DURATION OF THIS LEASE AGREEMENT. THIS POLICY MUST PROVIDE COVERAGE FOR PROPERTY DAMAGE, FIRE, WATER DAMAGE, AND LIABILITY ARISING FROM THE USE, OPERATION, OR MALFUNCTION OF THE LEASED EQUIPMENT. THIS LEASE AGREEMENT IS ENTERED INTO BY EASY WASH RENTALS SERIES LLC, A SERIES OF OLSON FAMILY SERIES LLC ("Rentals"), WHICH MANAGES CUSTOMER CONTRACTS, BILLING, AND SERVICE. THE EQUIPMENT BEING LEASED IS OWNED BY EASY WASH APPLIANCES SERIES LLC, A SERIES OF OLSON FAMILY SERIES LLC ("Appliances"). BY SIGNING THIS AGREEMENT, LESSEE CONFIRMS THAT THEY HAVE OBTAINED AND WILL MAINTAIN THE REQUIRED INSURANCE POLICY AND AGREES TO PROVIDE PROOF OF COVERAGE TO EASY WASH RENTALS SERIES LLC UPON REQUEST. FAILURE TO MAINTAIN THE REQUIRED INSURANCE MAY RESULT IN TERMINATION OF THIS LEASE AND LIABILITY FOR ANY DAMAGES INCURRED. 18. Customer Acknowledgment and Signatures By signing below, Renter acknowledges that they have read and agree to this Rental Agreement, including the Fees and Charges, ACH Authorization, Limitation of Liability, Dispute Resolution, and Renter's Insurance requirements.