Rent to Own Application

By signing the above: YOU AGREE TO THE BELOW Terms and conditions: - RMS transfer fees must be paid by hirer under this agreement. - The vehicle ownership will remain with VV and SV PTY LTD until the above instalments are paid in full. The vehicle can be reported as stolen if the payments are not as per this agreement. The Lessee acknowledges the below: - By signing this agreement, you agree to all terms and conditions outlined below. - Damage of the vehicle or its theft must be reported within 24 hours and the damage loss liability paid in full. Full insurance must be maintained by lease during the term of this lease. - You must pay infringements, fines, and tolls as you are responsible for this vehicle. All costs such as registration, comprehensive insurance must be paid by lease. - Vehicle should be maintained in a good manner until the term of this lease which is 24 months. - Comprehensive insurance must be maintained until the term of this lease. --- The following Car Rental Agreement terms also apply to this Rent to Own arrangement: *. RENTAL TERM The term of this Car Rental Agreement runs from the date and hour of vehicle pickup as indicated just above the signature line at the bottom of this agreement until the return of the vehicle to Owner, and completion of all terms of this agreement by both Parties. The estimated rental term is as follows: Estimated end date: To be advised by Hirer The Parties may shorten or extend the estimate term of rental by mutual consent. *. SCOPE OF USE Renter will use the Rented Vehicle only for routine business use from Monday to Saturday and operate the Rented Vehicle only on properly maintained roads and parking lots. Renter will allow to use 1400 KM per week. Renter must send a meter read every week to the owner. Any kilometre over driven by renter must pay 0.40 cent per km. Owner has right to take the vehicle return in his custody if renter not following the terms and condition of contract. Any penalties or fines will be transfer to renter driving licence without notifying the driver. Renter will comply with all applicable laws relating to holding of licensure to operate the vehicle and pertaining to operation of motor vehicles. Renter will not sublease the Rental Vehicle or use it as a vehicle for hire. Renter will not allow any other person to operate the Rented Vehicle unless identified here: *. SECURITY DEPOSIT Renter will be required to provide a security deposit to Owner as agreed by both parties and mentioned above be used in the event of loss or damage to the Rental Vehicle during the term of this agreement. In the event of damage to the Rental Vehicle, Owner will apply this Security Deposit to defray the costs of necessary repairs or replacement. If the cost for repair or replacement of damage to the Rental Vehicle exceeds the amount of the Security Deposit, Renter will be responsible for payment to the Owner of the balance of this cost. *. INSURANCE a) Owner will provide the Renter a Comprehensive Insurance that would cover damage to the Rental Vehicle at the time this Car Rental Agreement is signed, as well as personal injury to the Renter and other persons. If the Rental Vehicle is damaged or destroyed while it is in the possession of Renter, Renter agrees to pay any required insurance deductible and also assign all rights to collect insurance proceeds to Owner. Car accident excess fees are as follow: $2000 +Additional excess of $750 (for Renter underage of 25) Owner will provide car registration, green slip, and car maintenance for the Rental Vehicle Owner will be responsible for break down or maintenance recall and organize tow with NRMA. Driver must call owner to inform about any incident. Replacement vehicle will be provided when possible within 24 to 48 hours. If no vehicle available at the time of the incident driver has to make his own arrangements for replacement. *. TERMINATION OF USE Termination of use of Rental Vehicle due to resignation of work and/or withdrawal of contract will need 2 WEEKS written notice in advance Twin Transport T/A V.V and S.V Pty Ltd. 274 EXCELSIOR ST GUILDFORD NSW 2161 ABN: 13653358886 ACN: 653358886 Phone: 1300 277 143 *. INDEMNIFICATION Renter agrees to indemnify, defend, and hold harmless the Owner for any loss, damage, or legal actions against Owner because of Renter’s operation or use of the Rented Vehicle during the term of this Car Rental Agreement. This includes any attorney fees necessarily incurred for these purposes. Renter will also pay for any parking tickets, moving violations, FINES or other citations received while in possession of the Rented Vehicle. *. REPRESENTATIONS AND WARRANTIES Owner represents and warrants that to Owner’s knowledge; the Rental Vehicle is in good condition and is safe for ordinary operation of the vehicle. Renter represents and warrants that Renter is legally entitled to operate a motor vehicle under the laws of this jurisdiction and will not operate it in violation of any laws, or in any negligent or illegal manner. Renter has been given an opportunity to examine the Rental Vehicle in advance of taking possession of it, and upon such inspection, is not aware of any damage existing on the vehicle other than that notated by separate Existing Damage document. *. JURISDICTION AND VENUE In the event of any dispute over this agreement, this Car Rental Agreement will be interpreted by the laws of New South Wales, and any lawsuit or arbitration must be brought in Sydney of New South Wales. If any portion of this agreement is found to be unenforceable by a court of competent jurisdiction, the remainder of the agreement would still have full force and effect. *. ENTIRE AGREEMENT This Car Rental Agreement constitutes the entire agreement between the Parties with respect to this rental arrangement. No modification to this agreement can be made unless in writing signed by both Parties. Any notice required to be given to the other party will be made to the contact information below.