MicroFridge® Rental Agreement
Important Please read carefully.
The student renter ("LESSEE") does hereby agree to rent a MicroFridge refrigerator/freezer microwave oven combination ("Rental Unit") from LESSOR, Collegiate Concepts Inc. ("CCI").
- Availability of Rental Unit. CCI will make the Rental Unit available during the first 2 weeks of school. CCI does NOT guarantee that the unit will be in the room upon your arrival. DO NOT BRING FOOD WITH YOU TO SCHOOL. CCI will NOT be responsible for any food items spoiled prior to the arrival of the Rental Unit.
- Central Location Pick-Ups. In cases where the Rental Unit is to be picked up at a central location, the LESSEE is responsible for going to that location.
- Maintenance Responsibilities. CCI will, at its own discretion and expense, replace or repair the Rental Unit should it fail to operate properly, EXCEPT if the Unit is damaged through misuse, negligence, carelessness or irresponsible use by the LESSEE.
- Permission to Enter for Installation/Removal of Rental Unit. The LESSEE agrees that CCI will be allowed to enter the student's room to install or remove the Rental Unit, within school guidelines. Whenever possible, personnel will be accompanied by appropriate school personnel.
- Refund/Cancellation Policy. Refund/Cancellation Policy for academic year rentals: Within 30 days of installation, a complete refund less a $40.00 processing fee. If school has semester rentals the refund/cancellation policy will be: Within 15 days of installation a complete refund less a $40.00 processing fee. Cancellations beyond these time limits will only receive the cleaning/damage deposit (subject to above clauses regarding such deposits). Cube refrigerators are subject to a $15 processing fee for both year and semester rental periods. A full refund will be given if more than one MicroFridge is ordered per room without student's knowledge, by calling CCI within ten (10) days of discovery.
- Early Termination. If LESSEE decides to move or transfer anytime during the academic year, including semester break, they must notify CCI of their intention no less than three weeks prior to their move. CCI will move the Rental Unit at the LESSEE's request for a fee of $25.00.
- Requirement of Grounded "Three Prong" Outlet. LESSEE acknowledges that the Rental Unit requires a grounded ("three prong") outlet. If your room does not have a proper outlet, a grounded adapter must be used. If an extension cord is used, it must be a three prong extension cord with a wire gauge no thinner than #18 wire.
- Return of Rental Unit. The return date for the Rental Unit is determined in conjunction with the school's Housing or Residential Life Office. The return date can be as early as one week prior to final exams. The actual date will be communicated via a pick-up notice and/or posters on campus.
- Miscellaneous. This Agreement constitutes the entire agreement between the parties. No amendment, waiver, change or modification of any of the terms, provisions or conditions of this Agreement shall be effective unless made in writing and signed or initialed by the party to be charged with the enforcement thereof. This Agreement shall be governed by and construed in accordance with the laws of the State of Iowa.
FEDERAL CONSUMER LEASING ACT DISCLOSURES
- Disclosures Constitute Lease Terms. The LESSEE agrees that all disclosures made below are hereby incorporated and fully merged with the operative terms of this MicroFridge® Rental Agreement.
- Total Amount Due Upon Receipt of Order. Payment will be processed upon receipt of order. Full payment must accompany order. If partial payment is received, the order will NOT be processed and such partial payment will be returned. Full payment and details are set forth on the order form.
- Other Charges:
- Charges for Lost or Damaged Rental Units. The LESSEE agrees to reimburse CCI for any and all loss or damage to the rental unit from any cause whatsoever except normal wear and tear. If legal action is required, LESSEE agrees to reimburse CCI reasonable attorney's fees. In the event that the unit is not returned, the replacement cost for the Rental Unit will be: Model MF-2 or 3 - $500.00, Model MFR-2 or 3 - $350.00, cube refrigerator - $125.00.
- Replacement Costs for Parts. LESSEE will avoid additional charges provided that the Rental Unit:
IS TURNED IN ON TIME, ACCORDING TO THE PICK-UP SCHEDULE (deposit will be forfeited if we must make additional trips to pick-up the Rental Unit); IS THOROUGHLY CLEANED, DEFROSTED AND DRY-READY FOR STORAGE; HAS ALL ORIGINAL PARTS. LESSEE is responsible for replacement costs for parts: Shelf - $10; M/W Plate - $50; M/W Ring - $20; Ice Cube Tray - $5; Scraper - $5.
- Charges for Searching for the Rental Unit/Early Termination. LESSEE will be billed $25 if it is necessary to search for the Rental Unit, or for early termination of this agreement requiring special pickup arrangements. Details of pickup arrangements will be posted at the LESSEE's school before the expiration of this agreement.
- Charges for Returned Checks. Orders will not be processed in cases where credit card authorization is not obtained or if a check is returned for insufficient funds. CCI will provide written notice should this occur. There will be a $20.00 charge for all returned checks.
- Total of Payments. The amount LESSEE will have paid by the end of the lease will total the total amount due upon the receipt of LESSEE's order plus any other applicable charges outlined in paragraph 11.
- No Purchase Option at End of Lease Term. The LESSEE does NOT have an option to purchase the Rental Unit at the end of the lease term.
- Other Important Terms. The LESSEE should see their lease document(s) for additional information on early termination, purchase options and maintenance responsibilities, warranties, late and default charges, insurance, and any security interest, if applicable.
Please keep the above Rental Agreement for your records.
CCI P.O. Box 310, Huxley, IA 50124, 888-929-0806.