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Lone Star Structures

Lone Star Rental Agreement


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Texas Rental Purchase Agreement

November 25, 2020

LESSOR:

Lone Star Structures, LLC

Phone #: (254) 583-4411

Email: sales@lonestarstructures.com

Address: 2025 U.S. HWY 77, Lott, TX 76656

LESSEE/RENTAL CUSTOMER:

Phone #:  

Email:  

Address:  

Terms Of Agreement

In this Agreement "you" and "your" mean the person or persons signing this Agreement as Lessee/Rental Customer(s). "We", "us", and "our" mean the Lessor/Owner. "Agreement" means this Rental Purchase Agreement including all disclosures. "Property" means the rental property described below.

Contract Length: 36 Months
Initial Term: ONE MONTH
Renewal Date: 30 days from delivery

Building Model:

Building Size:  

Siding Color:

Trim Color:

Cash Price:

 

1. Rental Payments and Term

The term for this Agreement is one month. After that, you have three options:

    1. you can continue using the Property by making a rental renewal payment in advance;

    2. you can buy the Property (see item 4 below); or

    3. you can return the Property to us with no further obligation, except for any past due payments.

The monthly rental payment is (includes local taxes). A security deposit of and an initial rental payment is due upon execution of this Agreement for a total of . Renewal Payments are due the 1st of each month you choose to renew.

2. Initial Payment Breakdown

One Rental Payment:

Tax:

Security Deposit:

Delivery Fee:

Total:

3. Rental Purchase Ownership

If you make regular monthly Rental Payments for 36 Months, for a Total Cost of including tax, and comply with the Agreement, you will acquire ownership of the Property. You will not own the Property until you have paid the Total Cost or exercised your Early Purchase Option (see below.)

4. Early Purchase Option

If you are current, you can buy the Property at any time. Your Early Purchase Option Price will be 60% of remaining rental payments, plus tax. If you exercise the early purchase option within 90 days from date of delivery, you can purchase the building for the original cash price.

5. Other Charges

All of these charges are reasonably related to the services performed. The total cost does not include other charges:

Security Deposit:
You must pay this amount along with your first rental payment. We will hold this deposit for security for the performance of your obligations under this Agreement. When this Agreement terminates, we will refund your deposit unless you have been late on one payment, less any amounts you still owe at that time, without interest, within 30 days.

NSF Fee:

$25.00

If your check is returned unpaid for any reason, you must pay this fee.

In-House Collection:                     

$100.00                   

If we send someone to your residence to collect a payment, you must pay this fee.

Late Fee:      

$15.00

If your payment is not paid within 7 days of the renewal date, you must pay this fee.

Redelivery Fee:       

$250.00        

If we pick up the Property and later deliver it to you, you must pay this fee.

6. Risk of Loss

You are liable for the loss of, destruction of, or damage to the Property from all causes. Your liability will be the lesser of the fair market value of the Property on the date of loss or the cost of repair.

7. Reinstatement

If you fail to make a timely rental renewal payment, this Agreement expires. You can reinstate it without losing any rights or options previously acquired by making all payments due or by returning the Property to us within 16 days after the renewal date. If you return the Property to us within that time, you will have 30 days from the date of return to reinstate by making all payments due. If you reinstate, we will provide you with the same Property or property of comparable quality and condition.

8. Termination

You may voluntarily terminate this Agreement at any time with no penalty. To do so, you must return the Property or make arrangements with us for its return, and pay all rental payments and other charges due through the date of return. There are no refunds if you terminate before the end of a paid rental term.

9. Type of Transaction

This is a Rental Transaction. You may use the Property for the term of the Agreement. At your option, you may renew this Agreement. To do this, you must make a rental payment in advance for each term you wish to rent the Property. The rental rates are shown above. Time is of the essence.

10. Assignment

We may sell, transfer, or assign this lease without notice to you.

11. Title, Maintenance and Taxes

We retain title to the Property at all times and will pay any personal property taxes levied on the Property. We will maintain the Property in good working order as long as you rent it.

12. Alterations

You cannot allow the Property to be altered in any way, including the construction of shelves, the addition of equipment or accessories to the Property or placing any signs on it. You cannot allow electric or plumbing connections to the Property. You cannot allow the Property to be affixed to real estate in a way that it cannot be removed without damage, and you must not place any obstructions that would keep us or our agents from removing the Property if you do not renew this Agreement. You agree that you will not hold us or our agents responsible for any damages or losses if we have to remove any obstructions to recover our Property.

13. Contents

We will not be liable to you or to anyone else for any loss or damage to any contents located on or in the Property while you are in possession of the Property. Upon termination of this Agreement for any reason, you agree to remove all contents from the Property before returning it to us. We are not responsible to you or anyone else for any loss, damage, or destruction of any contents in the Property resulting from our repossession or retrieval of the Property, including after we have the Property in our possession. If the Property is not empty when we retrieve it, we will hold the contents at your sole risk for 5 days for you to claim them. After that we can deem any contents still left in the Property as abandoned by you, and will keep them or dispose of them at our sole discretion. We will not owe you anything for the contents.

14. Use of the Property

You cannot allow the Property to be used for any unlawful purpose. You cannot allow any person or any animal to live in the Property.

15. Our Rights to Take Possession

If you do not renew this Agreement, we have the right to take possession of the Property. If you do not allow us to do so, you must pay our costs incurred in taking possession of the Property including reasonable attorney's fees and court costs if we incur them.

16. Forbidden Acts

You cannot sell, mortgage, pawn, pledge, encumber, hock, dispose of or structurally change the Property or move it from your current residence, without our consent. If you do so, it is a breach of this Agreement, and we will have the right to immediate possession of the Property.

17. Warranty

If you acquire ownership of the Property, we will transfer any manufacturer's warranty still in effect if it is transferable.

18. Contact with You

You agree that we or our agents can contact you regarding your account with us via telephone, including cell phones, or text message at any number you have given us or that you give us in the future, even if you are charged for the call. You also agree that we can contact you using automatic dialing or with prerecorded messaging. You acknowledge that the number(s) you have given us are for phone(s) that belong to you. You can cancel this consent to get automatic dialing or prerecorded messaging calls by notifying us of your desire to do so.

19. ARBITRATION AND WAIVER OF JURY TRIAL.

  1. PLEASE READ THIS PROVISION OF THE AGREEMENT CAREFULLY. UNLESS YOU EXERCISE YOUR RIGHT TO OPT- OUT OF ARBITRATION IN THE MANNER DESCRIBED BELOW, YOU AGREE THAT ANY DISPUTE WILL BE RESOLVED BY BINDING ARBITRATION. ARBITRATION REPLACES THE RIGHT TO GO TO COURT, INCLUDING THE RIGHT TO HAVE A JURY TRIAL, TO ENGAGE IN DISCOVERY (EXCEPT AS MAY BE PROVIDED FOR IN THE ARBITRATION RULES), AND TO PARTICIPATE AS A REPRESENTATIVE OR MEMBER OF ANY CLASS OF CLAIMANTS OR IN ANY CONSOLIDATED ARBITRATION PROCEEDING OR AS A PRIVATE ATTORNEY GENERAL. OTHER RIGHTS THAT YOU WOULD HAVE IF YOU WENT TO COURT MAY ALSO BE UNAVAILABLE IN ARBITRATION.

    Agreement to Arbitrate. You and we (defined below) agree that any Dispute (defined below) will be resolved by Arbitration. This agreement to arbitrate is governed by the Federal Arbitration Act, 9 U.S.C. § 1 et seq., and the substantive law of the State of where you live (without applying its choice-of-law rules). Nothing in this arbitration agreement is intended to prevent either of us from filing a lawsuit in an appropriate small claims court for an amount that does not exceed the court’s jurisdictional limits. If counterclaims or other motions would cause the lawsuit to be removed from small claims court to another court, the dispute must be resolved by arbitration.

    What Arbitration Is. “Arbitration” is a means of having an independent third party resolve a Dispute. A “Dispute” is any claim or controversy of any kind between you and us. The term Dispute is to be given its broadest possible meaning and includes, without limitation, all claims or demands (whether past, present, or future, including events that occurred prior to origination of your Rental-Purchase Agreement (“Agreement”) and whether or not an Agreement is provided to you, based on any legal or equitable theory (contract, tort, or otherwise) and regardless of the type of relief sought (i.e., money, injunctive relief, or declaratory relief). A Dispute includes, by way of example and without limitation, any claim based upon a federal or state constitution, statute, ordinance, regulation, or common law, and any issue concerning the validity, enforceability, or scope of this arbitration agreement.

    For purposes of this arbitration agreement, the terms “you” and “your” include any co-signer, co-obligor, or guarantor and also your heirs, guardian, personal representative, or trustee in bankruptcy. The terms “we,” “our,” and “us” mean Lessor and include Lessor’s employees, offi cers, directors, members, managers, attorneys, affi liated companies, predecessors, and assigns, as well as Lessor’s marketing, servicing, and collection representatives and agents.

    How Arbitration Works. If a Dispute arises, the party asserting the claim or demand must initiate arbitration, provided you or we may first try to resolve the matter informally or through customary business methods, including collection activity. The party filing an arbitration must choose either of the following arbitration firms for initiating and pursuing an arbitration: the American Arbitration Association (“AAA”) or JAMS, The Resolution Experts (“JAMS”). If the parties mutually agree, a private party, such as a retired judge, may serve as the arbitrator. If you claim you have a Dispute with us, but do not initiate an arbitration or select an arbitrator, we may do so. You may obtain copies of the current rules of each of the arbitration firms and forms and instructions for initiating an arbitration by contacting them as follows:

    American Arbitration Association 120 Broadway, 21st Floor

    New York, NY 10271 Web site: www.adr.org

    Telephone (800) 778-7879

    JAMS, The Resolution Experts 18881 Von Karman Ave., Suite 350

    Irvine, CA 92612

    Web site: www.jamsadr.com

    Telephone (949) 224-1810 or (800) 352-5267

    The policies and procedures of the selected arbitration firm will apply provided such policies and procedures are consistent with this arbitration agreement. To the extent the arbitration firm’s rules or procedures are different than the terms of this arbitration agreement, the terms of this arbitration agreement will apply.

    What Arbitration Costs. No matter which party initiates the arbitration, we will advance or reimburse filing fees and other costs or fees of arbitration, provided each party will be initially responsible for its own attorneys’ fees and related costs. Unless prohibited by law, the arbitrator may award fees, costs, and reasonable attorneys’ fees to the party who substantially prevails in the arbitration.

    Location of Arbitration. Unless you and we agree to a different location, the arbitration will be conducted within 30 miles of your then current mailing address.

    Waiver of Rights. You are waiving your right to a jury trial, to have a court decide your Dispute, to participate in a class action lawsuit, and to certain discovery and other procedures that are available in a lawsuit. You and we agree that the arbitrator has no authority to conduct class-wide arbitration proceedings and is only authorized to resolve the individual Disputes between you and us. The validity, effect, and enforceability of this waiver of class action lawsuit and class-wide arbitration, if challenged, are to be determined solely by a court of competent jurisdiction and not by the AAA, JAMS, or an arbitrator. If such court refuses to enforce the waiver of class-wide arbitration, the Dispute will proceed in court and be decided by a judge, sitting without a jury, according to applicable court rules and procedures, and not as a class action lawsuit. The arbitrator has the ability to award all remedies available by statute, at law, or in equity to the prevailing party.

    Applicable Law and Review of Arbitrator’s Award. The arbitrator shall apply applicable federal and the substantive law of the state where you live and the terms of this Agreement. The arbitrator must apply the terms of this arbitration agreement, including without limitation the waiver of class-wide arbitration. The arbitrator shall make written findings and the arbitrator’s award may be filed with any court having jurisdiction. The arbitration award shall be supported by substantial evidence and must be consistent with this Agreement and with applicable law, and if it is not, it may be set aside by a court. The parties shall have, in addition to the grounds referred to in the Federal Arbitration Act for vacating, modifying, or correcting an award, the right to judicial review of (a) whether the findings of fact rendered by the arbitrator are supported by substantial evidence and (b) whether the conclusions of law are erroneous under the substantive law of the state where you live and applicable federal law. Judgment confirming an award in such a proceeding may be entered only if a court determines that the award is supported by substantial evidence and is not based on legal error under the substantive law of the state where you live and applicable federal law.

    Survival. This arbitration provision shall survive: (1) cancellation, payment, charge-off, or assignment of this Agreement; (2) the bankruptcy of any party; and (3) any transfer, sale, or assignment of this Agreement, or any amounts owed under this Agreement, to any other person or entity.

    Right to Opt-Out. If you do not wish to agree to arbitrate all Disputes in accordance with the terms and conditions of this section, you must advise us in writing at our address, above, by either hand delivery or a letter postmarked no later than thirty (30) days following the date you enter into this Agreement. You may opt-out without affecting your application or status as a lessee at our address above.


Notice to Lessee

Do not sign this Rental Agreement before you read it or if it contains any blank spaces. You are entitled to an exact copy of the Rental Purchase Agreement you sign. Keep it to protect your legal rights.

Customer Data Sheet

LESSEE/RENTAL CUSTOMER:


Primary Phone:

Secondary Phone:

Email:

Property Address:

Billing Address:

Birth Date:

Employer:

Employer's Phone:


REFERENCE 1:


Phone:

Relationship:


REFERENCE 2:


Phone:

Relationship:

Leave this empty:

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Signature Certificate
Document name: Lone Star Rental Agreement
lock iconUnique Document ID: 0f935b568cf123be5a44503314bbad60f5d45db0
TimestampAudit
July 7, 2020 11:24 am CSTLone Star Rental Agreement Uploaded by Lone Star Structures - sales@lonestarstructures.com IP 68.196.209.108
July 24, 2020 1:32 pm CST Document owner kenneth@eimpact.marketing has handed over this document to sales@lonestarstructures.com 2020-07-24 13:32:35 - 24.188.155.143
July 30, 2020 8:41 am CSTKenneth Kauffman - kenneth@eimpact.marketing added by Lone Star Structures - sales@lonestarstructures.com as a CC'd Recipient Ip: 24.188.155.143
July 30, 2020 12:58 pm CSTKenneth Kauffman - kenneth@eimpact.marketing added by Lone Star Structures - sales@lonestarstructures.com as a CC'd Recipient Ip: 24.188.155.143
July 30, 2020 2:12 pm CSTKenneth Kauffman - kenneth@eimpact.marketing added by Lone Star Structures - sales@lonestarstructures.com as a CC'd Recipient Ip: 24.188.155.143
July 30, 2020 2:12 pm CSTCynthia Fisher - cynthia@lonestarstructures.com added by Lone Star Structures - sales@lonestarstructures.com as a CC'd Recipient Ip: 24.188.155.143
August 10, 2020 1:24 pm CSTKenneth Kauffman - kenneth@eimpact.marketing added by Lone Star Structures - sales@lonestarstructures.com as a CC'd Recipient Ip: 68.196.209.108
August 10, 2020 1:24 pm CSTCynthia Fisher - cynthia@lonestarstructures.com added by Lone Star Structures - sales@lonestarstructures.com as a CC'd Recipient Ip: 68.196.209.108