The Fine Print
[The following is a sample copy of the Liberty Lighting Rental Contract as of January 2010, please review your actual contract for any recent changes or modifications.]
LIBERTY LIGHTING LIMITED - RENTAL CONTRACT
1 . Lessee has made their own selection of Equipment. Lessee understands and agrees that said Equipment is rented to Lessee without any warranty or guarantee of any kind, expressed or implied, and that Liberty Lighting Limited assumes no responsibility for the Equipment as being fit for any particular purpose whatsoever. Lessee assumes the entire responsibility that the Equipment selected by them is fit for their intended use and purpose. Lessee acknowledges that it has inspected and tested all Equipment supplied by Liberty Lighting Limited at the time of rental and that all Equipment are in good and working order and acceptable to Lessee.
2. Liberty Lighting Limited shall not be responsible to Lessee for any claims by Lessee for alleged loss of profits, damages, delays, expenses or any claim whatsoever claimed to have arisen out of Lessee's use of Equipment. In the event Equipment is not functioning and/or damaged Lessee shall notify Liberty Lighting Limited immediately in writing of any claimed malfunction and/or damage of any Equipment, Liberty Lighting Limited shall have the option of substituting other like Equipment in exchange for the returned or of canceling this agreement and recalling all Equipment. The rental charges for all Equipment so returned to Liberty Lighting Limited shall be abated from the time of acceptance and return. Likewise, rental charges shall accrue and be owed for any replacement Equipment.
3. Lessee shall only allow the Equipment to be used by duly qualified and/or licensed technicians and only in strict accordance with its contemplated use. Lessee shall keep the Equipment in their sole custody and shall not permit the Equipment to be used in violation of any laws.
4. Lessee assumes all risk of loss whether or not covered by Lessees insurance coverage. Once lessee has taken possession of the Equipment (including any equipment provided on a “pay-as-used” basis), Lessee's responsibility includes, but is not limited to; risks while in transit, at all locations named and unnamed, at all studios, while on your own premises, while in use, and while in storage on the rental facility's premise. Furthermore, in the event lessee employs, hires, and/or engages the services of an owner and/or agent of Liberty Lighting Limited in any capacity whatsoever during the rental period, it is acknowledged the lessee continues to assume all risks and liability for any and all loss or damages of the equipment and/or vehicles.
5. Lessee is responsible for all property stored (including but not limited to camera(s), props, sets, & wardrobe) and/or transported by Liberty Lighting Limited and/or their agents for Lessee's ultimate use. All risk of loss to third party property which is transported or stored by Liberty Lighting Limited for the benefit of Lessee shall be the sole responsibility of Lessee,
6. Lessee must insure all Equipment: Lessee shall at their expense, and at all times during the rental, maintain in full force and effect insurance covering all Equipment and/or Vehicle(s) rented, from all sources, for the full replacement cost without deduction for depreciation, except Vehicle(s) which are valued at actual cash value, and for loss of use (rents) of the Equipment and/or Vehicle(s). Lessee shall deliver to Liberty Lighting Limited evidence of Lessee's insurance coverage prior to Lessee taking either constructive or actual possession of the Equipment and/or Vehicle(s). Lessee will forward a Certificate of Insurance evidencing Lessee's liability, automobile, property and worker's compensation insurance with a reputable insurance carrier acceptable to Liberty Lighting Limited that complies with coverage requirements as enumerated within this rental contract;
a.) Property Insurance: Lessee's insurance should be on a worldwide; replacement cost basis without deduction for depreciation, shall name Liberty Lighting Limited as Loss Payee for loss or damage to the property rented; shall cover "All Risk" of loss or damage to Equipment; Vehicle physical damage coverage shall include the perils "Comprehensive" and "Collision"; and all policies shall provide for 30 days written notice to Liberty Lighting Limited before any policy shall be modified or cancelled. In determining whether the Equipment shall be repaired or replaced, Liberty Lighting Limited’s judgment shall be final. Limits shall be sufficient to encompass all property at risk, regardless of source, but in no event less than $1,000,000.
b.) Liability Insurance: Lessee shall name Liberty Lighting Limited as an additional insured on their liability insurance. Lessee's liability insurance shall meet the following minimum limits: Commercial General Liability $1,000,000 per occurrence and annual aggregate; Automobile Liability (including non-owned and hired automobiles) $1,000,000 combined single limit; Foreign Liability, if filming outside of the United States and Canada, $1,000,000 per occurrence; Aircraft Liability., if filming from any aircraft, $5,000,000; Watercraft Liability, if filming from any watercraft, $5,000,000
c.) Lessee's property, automobile and liability coverage is the primary coverage for Equipment and/or Vehicle(s) and said coverage must be issued on a noncontributory basis. Furthermore, Lessee's insurance carrier agrees that the rights of Liberty Lighting Limited under Lessee's insurance policy shall not be affected by any act, neglect or breach of condition by the Lessee, other than nonpayment of premium. Lessee shall remain primarily liable to Liberty Lighting Limited for full performance under the terms and conditions of this rental contract in the event of a dispute with their insurance carrier and for uninsured losses. Lapse or cancellation of Lessee's insurance, as required by this contract, shall allow Liberty Lighting Limited to immediate and automatically terminate this contract, at their option.
7. Lessee specifically acknowledges Liberty Lighting Limited superior title and ownership of the Equipment and must keep the Equipment free of all liens, levies and encumbrances. Lessee may not assign or pledge the Equipment.
8. Lessee agrees to indemnify, defend and hold harmless Liberty Lighting Limited and its officers, employees, agents and licensees against any and all claims, actions, damages, liabilities and expenses arising from the use, condition (including, without limitation, latent and other defects) or operation of the Equipment and/or Vehicle(s) and by whomsoever operated. This indemnification shall survive the term of the rental contract.
9. This agreement shall be governed by the laws of the State of New York, The rental contract shall be deemed to have been made in the County of Manhattan, and shall be interpreted and the rights and liabilities of the parties determined, in accordance with the laws of the State of New York.
10. The signed Rental Contract and The Terms and Conditions constitute the entire agreement between Liberty Lighting Limited and the Lessee. Any changes must be made in writing and signed by both parties. No terms, representation or warranty, expressed or implied, not herein set forth in writing shall bind Liberty Lighting Limited. Liberty Lighting Limited shall mean Liberty Lighting Limited with mailing address of 240 8th Street #2N Brooklyn, NY 11215, it’s owners and/or any of it's subsidiaries. Equipment shall mean "all equipment" and/or vehicles.
11. If the lessee shall default on any of the terms, covenants and conditions herein, or in punctually making any of the payments aforesaid, or if any execution of other writ or process shall be issued in any action or proceeding of bankruptcy, receivership, or insolvency shall be instituted by or against the lessee of his property, or if the lessee shall enter into any arrangement or composition with his creditors, or in the event that any judgment is obtained against lessee, then and in any such event, Liberty Lighting Limited shall have the option to retake immediate possession of said equipment and for such purpose Liberty Lighting Limited, its agents or employees, may enter upon any premises here said equipment may be, and may remove same there from with or without force and with or without notice of intention to retake same, without being held liable to any suit or action or other proceeding by lessee. Lessee agrees to pay all reasonable attorney’s fees and costs incurred by Liberty Lighting Limited in protecting its rights or property under this agreement, or in suing the lessee for a breach of agreement and/or non-payment.