1. Yandas Music Inc, Ord NE (Yandas Music), as Lessor, rents the Instrument designated on this
Agreement or an instrument received through an exchange and all accompanying accessories and
services, including Exchange Options and service, (collectively “the Instrument”) to the named Lessee.
The Instrument is the property of Yandas Music and Lessee will not own the Instrument unless Lessee
makes all payments necessary to acquire ownership or exercises the Early Purchase Option.
2. The number of months of the Initial Trial is the term for which the Lessee is obligated beginning on
the Date Received shown below.
4. The total of payments for this Instrument is the Cash Price. The Cash Price does not include other charges, such as late
payment charges. Please review the Agreement for an explanation of these charges. The cost of Rental. The monthly Maintenance Fee for this Agreement is ($6 for Brass/Percussion/Strings and $9 for Woodwinds). These amounts do not
include applicable sales tax.
3. Following the Initial Trial the Lessee may (I) continue to rent the Instrument by the month; (II)
purchase the Instrument outright by exercising the Early Purchase Option; or (III) at any time during
rental, return the Instrument in good repair, normal wear and tear expected, without further
obligation except for any outstanding amounts which may be due and owing to Yandas Music at the
time of the return. Such return shall terminate this Agreement. If the Lessee continues to rent the
Instrument by the month and pays the Cash Price, the Lessee will then own the Instrument. All
monthly fees are payable in advance and are due on the same day of each successive month.
6. If a default should occur by reason of the Lessee’s failure to make a timely monthly payment, and if
Yandas Music has terminated this Agreement pursuant to paragraph 16, and if the Instrument has
been returned to Yandas Music, the Lessee may reinstate this Agreement as provided in paragraph
5. If the Instrument is damaged, lost, stolen, or destroyed, the Lessee will be responsible for all
amounts due and owing to Yandas Music at the time of the loss plus the retail cost of repairs or the
estimated fair market value of the property at the time of loss or damage which will be calculated as
the Early Purchase Price, whichever is less. It is recommended that the Lessee contact their Home or
Renters Insurance Company for protection against instrument being destroyed, badly damaged, or
stolen. Basic service necessitated by normal use is covered by Yandas Music while the instrument is on
rental. See paragraph 10 for further details
8. Other Fees: A Monthly Payment which is more than 15 days late shall incur a Late Fee of $5.00. The
return to Yandas Music of any check as non-collectible shall incur a Return Check Fee of $25.00 or the
highest amount allowable by law.
7. If any part of a manufacturer’s expressed warranty covers the Instrument at the time the Lessee
acquires ownership of the Instrument, it shall be transferred to the Lessee, if allowed by the terms of
10. NOTICE: This Agreement includes, for an additional charge, maintenance fee which covers
maintenance and service necessitated by normal use. This maintenance is included while the
instrument is on rental and the account is paid up to date. Coverage for negligent or intentional
damage or loss is not covered. Replacement of expendable accessories, such as cases, strings, reeds,
drum sticks, drum heads, bows, bow hair, rosin, bridges, lubricants, or mouthpieces is not covered.
9. Early Purchase Options: At any time after the Initial Payment, the Lessee may acquire ownership of
the Instrument by payment to Yandas Music of all outstanding amounts which may be due and owing
to Yandas Music at the time the option is exercised. The first option is to purchase the instrument
within 90 days from the end of the Initial payment at a 20% discount on the balance left on the term
plus tax. After 90 days from the initial payment period a 10% discount would be applied on the balance
of the term if instrument is purchased early. The Early Purchase Option amount is subject to sales tax.
11. No one other than Yandas Music may repair the instrument. Lessee agrees that if the instrument is
in need of repair for any reason, Lessee shall promptly return it for that purpose to Yandas Music
12. Lessee agrees to properly care for the instrument at all times. If Lessee desires to return the
instrument, Lessee is solely responsible for its return in good condition, reasonable wear and tear
expected, to a Yandas Music Representative at a Yandas Music retail or mobile music store location.
13. Exchange Options: This agreement includes certain exchange options. If the instrument is
exchanged without signing a new agreement, Lessee agrees that the terms of this Agreement apply to
each exchanged instrument, with the exception of the Cash Price of each instrument. If any exchanged
instrument’s Cash Price is different from the original instrument’s Cash Price, Lessee agrees to have
their agreement amended with the exchanged instrument’s Cash Price. In the event the exchanged
intrument is of greater value the instrument being exchanged for there would be no reimbursement
for the past payments that would be in excess of the cash price of the instrument that is being
exchanged for. For the remainder of the rental term subsequent payments at the lower value
instruments price would be applicable.
14. Lessee agrees that this Agreement is a “Rental-Purchase Agreement” and not an installment sales
contract or security-agreement. Lessee also agrees that this Rental-Purchase Agreement will be treated
as a true lease in any Bankruptcy proceeding. This means that if Lessee is involved in a Bankruptcy
proceeding, the Lessee or trustee must either: (I) Return the musical instrument; or (II) Assume the
Rental-Purchase Agreement, cure any past Defaults, and make Rental Payments on an on-going basis.
15. Unless otherwise indicated, the instrument shall be kept at the address of Lessee shown on this
Agreement. Lessee agrees to advise Yandas Music, in advance and in writing, of any change of Lessee’s
address or of the address at which the instrument shall thereafter be kept. Failure to advise Yandas
Music in advance of any address change shall constitute a material breach of this Agreement.
16. A. The following shall constitute events of default by Lessee: (I) Failure to make payments to Yandas
Music when due or within fifteen (15) days thereafter; (II) The return to Yandas Music of any check as
non-collectible; (III) Willful or negligent damage to the instrument, or failure to properly care for it by the Lessee, any member of the Lessee’s household, or any person entrusted with the instrument; (IV)
Loss of the instrument; (V) Permitting anyone other than Yandas Music to service or repair the
instrument; or (VI) Failure to perform any other obligation required under this Agreement.
16. B. In the event of default Yandas Music may, at its option, terminate this Agreement by sending written
notice of termination to Lessee at the last address provided to Yandas Music in writing by Lessee. Upon
such termination of this Agreement Lessee shall within five (5) days thereafter return the instrument to
Yandas Music and shall pay to Yandas Music all sums, including Late Payment Fees then due and owing
to it plus all amounts due on account of damage or loss of the instrument up to its fair market value. If
the instrument is not returned on time, Lessee shall thereafter incur and agree to pay Yandas Music, in
addition to the sum set forth in the prior sentence, a monthly rental charge equal to the Monthly
Payment and Monthly Late Payment Fee for each month during which the instrument is not returned
and a Monthly Payment for the month in which the instrument is returned.
16. C. If any Monthly Rental Fee remains unpaid for more than sixty (60) days, the Lessee’s right hereunder
to return the instrument shall, at Yandas Music’s option, terminate. The instrument, in such case, shall
become the property of the Lessee; and the entire, unpaid portion of the purchase price shall become
immediately due and payable.
16. D. Lessee agrees that should any Monthly Payment required by this Rental-Purchase Agreement remain
unpaid for a period of more than sixty (60) days after its due date, Lessor may charge all amounts then
due and owing by Lessee, including Late Fees and any related charge authorized by the Rental-Purchase Agreement.
16. E. If a default should occur, Yandas Music may take any and all appropriate actions, including the
institution of legal proceedings, to collect the payment of Lessee’s obligations and any other damages
to which Yandas Music may be entitled, and Lessee agrees to pay Yandas Music all costs, including
collection agency and attorney’s fees associated with such actions except where prohibited by law
16. F. If a default should occur by reason of the Lessee’s failure to make a timely Monthly Payment, and if
Yandas Music has terminated this Agreement pursuant to Paragraph 16.B., and if the Lessee has also
promptly returned the instrument to Yandas Music, Lessee may cure the default and reinstate this
Agreement without losing any rights or direction by paying all outstanding amounts then due and
owing to Yandas Music, including Late Payment, Fees, Monthly Payments, all costs of repair,
replacement or loss for which Lessee is liable under this Agreement and any amounts for which Lessee
may be liable pursuant to a judgment in legal proceeding brought by Yandas Music under Paragraph 16.E., not more than one hundred eighty (180) days after Lessee has returned the instrument. The right
to cure and to reinstate the Agreement does not apply (I) If Lessee has stolen or unlawfully disposed of
the instrument; (II) If the instrument is damaged due to an intentional, reckless or negligent act or omission or failure to properly care for the instrument; (III) If Lessee fails to notify Yandas Music in writing in advance of any change in address; or (IV) If Lessee permits anyone other than Yandas Music
to service or repair the instrument.
16. G. Upon reinstatement of this Agreement pursuant to paragraph 16.F. Yandas Music shall provide
Lessee with the same instrument, if available, or a substitute instrument of the same brand, if available,
and comparable quality, age condition, and warranty coverage. If any information disclosed herein is
inaccurate after the delivery of a substitute instrument, Yandas Music shall provide Lessee with a
revised set of disclosures.
17. The Initial Rental Payment of $50 is not refundable.
18. NOTICE: You are renting this property. You will not own it until you make all of the regularly
scheduled payments or you use the early purchase option. You do not have the right to keep the
property if you do not make required payments or do not use the early purchase option. If you miss a
payment, the lessor can repossess the property, but you may have the right to the return of the same or
similar property. See the contract for an explanation of your rights.