Terms and Agreements

  1.     TERMS: Customer hereby agrees to rent the instrument for a minimum period of 1 month (payable in advance). After the initial month period, if Customer wishes to keep the instrument, Customer shall pay the Total Payment per month amount for each month Customer has the instrument. The rental payment portion of the total payment counts as rental credit and accrues with each payment. Future payment will be due on the same date of each month as the date rented.
  2.     RENTAL CREDIT: Payment of the rental payment every month accrues rental credit equal to the rental payment. Customer may apply 100% of rental credit towards the purchase of the instrument listed on this contract. OR Customer may apply up to $360.00 in rental credit towards the purchase of a new Intermediate or Professional model instrument of the same type as the one being rented, after which Customer may continue to rent starting over at $0.00 rental credit or return the instrument according to section 4 of this contract.
  3.     EARLY PAYOFF: Customer may pay all at once 70% of the remaining value to complete the contract. The remaining value is the value on this contract minus and accrued rental credit.
  4.     TERMINATION: Customer may terminate the contract at any time by returning the instrument to Willamette Valley Music Company at the address located at the top of the contract. Willamette Valley Music Company is not required to refund the unused portions of the first months' rental or for the unused portion of any month thereafter.
  5.     MAINTENANCE, REPAIR, and LOSS: Customer also agrees to pay a maintenance and repair fee each month, which is in addition to the monthly rental payment. For this fee, Willamette Valley Music Company will provide normal service and repair of the instrument during the term of this contract, maintaining it in good condition. The Customer, however, is responsible for damage (other than ordinary wear and tear), loss, destruction, or theft of the instrument, and agrees to report any such event to Willamette Valley Music Company immediately, and to pay to Willamette Valley Music Company the cost of repair or the fair market value of the instrument.
  6.     LATE FEE: Willamette Valley Music Company may charge a $5.00 late fee for any payment made after it is due.
  7.     NON-PAYMENT OF RENTAL-REINSTATEMENT: If Customer does not make payment when due and has not returned the instrument within 10 days after Willamette Valley Music Company has attempted to notify Customer by sending written notice, of the delinquent payment to Customer at Customer's address shown on this contract, then Customer shall be deemed (a) to have converted the instrument to Customer's own use, and (b) to be liable to Willamette Valley Music Company for the retail price of the instrument, less applicable rental credits; PROVIDED, that Customer shall have the right to reinstate this agreement as set forth in Oregon Law. A reinstatement fee may be charged to the Customer.
  8.     INSTRUMENT RETURN: An instrument must be returned on or before the payment due date to avoid paying another month’s rent. If the instrument is lost, stolen, or destroyed while being rented, Customer shall be liable to Willamette Valley Music Company for the full retail price of the instrument, less applicable rental credits.
  9.     DEFAULT: If Customer defaults on any payment or obligation hereunder and Willamette Valley Music Company refers this matter to a collection agency or attorney for collections, the Customer agrees to pay, in addition to any sums due to Willamette Valley Music Company, the reasonable collection agency or attorney fees incurred, plus court costs.
  10. OWNERSHIP: Customer does not own the instrument Willamette Valley Music Company is the owner of the instrument listed on this contract, until Customer has applied rental credit according to section 2, or paid off the contract early according to Section 3.
  11. WARRANTY: Maintenance and repair is provided while the instrument is being rented as set forth above. There is no manufacturer or other warranty of the instrument, the instrument will have been maintained by Willamette Valley Music Company while being rented, and will be in good condition absent damage or extraordinary wear and tear by Customer.
  12. CREDIT CARD: Customer has provided a credit card number for making monthly rental payments. Customer authorizes Willamette Valley Music Company to process those payments at least once per month until the lease is terminated. In the event that Customer has provided a credit card number but it is not used for the monthly payment, and the account is in default, then Willamette Valley Music Company is authorized to use the card only for such purposes and in only those amounts to which Willamette Valley Music Company is entitled.
INSTRUMENT EXCHANGE: Customer may exchange the currently rented instrument for another Willamette Valley Music Company rental instrument. The total accrued rental credit transfers on exchanges, if the value of the new instrument is greater than the instrument being returned, otherwise 65% transfers.