Lease/Purchase Agreement and Disclosure Statement

This Agreement made and entered on 03/29/2023, by and between Harrell & Hall Enterprises, Inc. d/b/a H & H Rent To Own, having its principal place of business at 43 Airpark Court, Alabaster, AL 35007, herein referred to as “H&H” and NAME EMAIL  ADDRESS , herein referred to as “Lessee”. Lessee acknowledges receipt of a copy of this Agreement as evidenced by Lessee’s signature as it appears below.

WITNESSETH

For and in consideration of the mutual covenants and agreements between the parties herein after set forth, H & H hereby leases to Lessee and Lessee hereby leases from H&H that certain portable warehouse and equipment described in section 1(a) set forth below.

1. The following information is hereby disclosed to the Lessee pursuant to Alabama Code §8-25-1 et seq. and comprises the terms and conditions of this Agreement.

(a)   The property to be leased pursuant to this Agreement is described as follows: 8x8 | | CW/CW ,(the“leased property”).

(b)   The cash price of the leased property is  with  due at signing of this Agreement, and to be applied to the principal.

(c)   The leased property is .

(d)    The term of this Agreement is for one month.

(e)    Lessee may renew this Agreement for consecutive one month terms (less end of contract deposits) by making rental payments in advance for each additional month Lessee desires to rent the property.

(f)   The monthly rental payment is plus  state/county sales/rental tax for a total of .

An advance monthly payment is due and has been made upon execution of this Agreement.  Payments made hereafter are due 30 days after the delivery date and each succeeding month in accordance with a monthly invoice to be provided to the Lessee. Should Lessee fail to pay any monthly invoice within 15 days of invoice due date (“termination date”), H&H reserves the right to take possession of the leased property. Lessee agrees to pay a late charge of $30.00 for each payment received after the payment due date as set forth on the monthly invoice. Lessee also agrees to pay a returned check or non-sufficient funds fee of $50.00.

(g)   If Lessee makes () monthly rental payments for a total of  , plus tax, and otherwise complies with the terms and conditions of this Agreement, Lessee will acquire ownership of the leased property. After Lessee has made the first rental payment, Lessee may purchase the leased property for the cash price as set forth in section 1(b) herein above plus sales tax less % of all rental payments Lessee has made (exclusive of taxes, reinstatement and other charges).

(h)   Lessee will not own the leased property until Lessee has made the total number of payments necessary to acquire ownership as set forth in section 1.

(g) It is agreed that title to said property shall remain in H&H until such payment is made.

(i)  The total of payments does not include other charges such as late charge, default pickup or reinstatement fees.

(j)  Lessee is responsible for payment to H&H of the fair market value of the leased property if it is lost, stolen, damaged or destroyed before title passes to Lessee.

(k)   Lessee is responsible for maintaining the leased property in the condition in which it existed upon delivery and during the lease term(s). Reasonable wear and tear to be excepted.

(l)   Lessee shall not permit the leased property to be altered for the construction of shelves, addition of equipment and accessories or the placing of signs thereon and shall not permit the leased property to be tied, or otherwise affixed to any real estate in such a manner that  the same cannot be removed without damage to the leased property.

2.  First and last payments in the amount of to be held by H&H as security for the performance of all terms of this Agreement including, but not limited to, the payment of a re-delivery charge.

3.  Upon the expiration of any lease term, Lessee may terminate this Agreement without penalty by voluntarily surrendering the leased property. In the event of termination, Lessee agrees to return the leased property to H&H in the same condition it was in on the date of delivery, normal wear and tear excepted.

4.  In the event of termination by Lessee or by H&H, Lessee will still owe H&H any past-due rental payments. If Lessee fails to make a timely rental payment, which otherwise would effectuate a termination of this Agreement, Lessee shall have the right to reinstate this Agreement without losing any rights or options by payment of all past due rental charges, the reasonable cost of pickup, re-delivery, any refurbishing, and any applicable late fee(s) within five (5) days of the termination date.

5.  The leased property shall be kept at the address shown above. The leased property may not be moved from this address without H&H’s written consent.

6.  Lessee may not assign any of the Lessee’s rights under this Agreement to any third party without written consent of H&H. H&H may assign its rights hereunder.

7.  H&H shall have the right to examine and inspect the leased property at reasonable times.

8.  Notwithstanding anything contained in this Agreement to the contrary, H&H shall not be liable to the Lessee, or any other person, entity, firm or corporation by reasons of the loss of damage to or destruction of, any contents kept in thy leased property whether due to the negligence of H&H;