MONTHLY RENTAL PERIOD. You are renting an instrument on a monthly basis based on your contract date. Payment for the rental is due on a monthly basis. If you are uncertain as to how to return your instrument, please call (203) 261-7301 for instructions. Rental fees are non-refundable and cannot be prorated. Payments (excluding tax and M&R) associated with this contract as well as the equity are designated to the student listed on the rental contract only and not transferable.

Customers returning an instrument within 5 days of the payment due date will not be charged for the current month. Customers returning an instrument on the 6th day or beyond will be responsible for the current month payment.

 

DEFAULT. If you fail to make a rental payment within 5 days of the due date, or fail to observe any other term in this Agreement, you are in default and this Agreement terminates. If you default, and after we give you any notice required by law, we are entitled to all legal remedies, including repossession and our damages. If you default, you must pay Creative

Music Center for all of our reasonable costs of collection which may include some or all of the following: a $60 repossession fee, a 30% third party debt collection fee, late invoice fees, as well as a $15 third party administrative collection fee plus any other court costs and/or legal fees, as permitted by law. These amounts are in addition to the base balance due. Upon default, any rental credit earned will be void, and you are liable for amounts due to us and immediate return of the instrument. If you are in default, Creative Music & Arts, LLC d.b.a. Creative Music Center reserves the right to report your credit and payment history to any of the credit reporting agencies at our discretion. Subject to change.

 

RENTAL INSTRUMENT EXCHANGE POLICY. You may exchange from one instrument type to another instrument type, of equal or greater value. An instrument exchange fee of $25 may apply for each exchange. Providing your account is current, 100% of your base rental payments will be applied toward an exchange. If you are renting a new instrument and want to exchange to a different rental instrument, Creative Music Center will exchange the instrument requested to a brand and condition of equal or greater value, providing the inventory is available at the time of exchange. If the inventory is not available, Creative Music Center will do its best to provide you with the “next best” instrument of the same

type that matches your need at the time of the exchange.