Rental Agreement

RENTAL AGREEMENT

RENTAL AGREEMENT

Tarakona Pte Ltd rents to Renter signing this agreement subject to all the terms set forth in this Rental Agreement and Renter agrees:

  1. Recovery Systems are the property of Tarakona Pte Ltd and is in good condition. Renter shall return equipment in the same condition as when received to Tarakona Pte Ltd, at the end of the rental period for inspection, or sooner, upon the demand by Tarakona Pte Ltd. Tarakona Pte Ltd may repossess the Recovery Systems without demand at any time if it is used in violation of the terms of this agreement.

  2. Tarakona Pte Ltd shall not be liable or responsible for the loss of or damage to any property left, lost, damaged, stolen, stored or transported by Renter, its members, shareholders, officers, affiliates, agents, servants or employees, or any other person on or using the Recovery Systems, either before or after the return thereof to Tarakona Pte Ltd.

  3. Renter assumes all risk of such loss or damage and waives all claims against Tarakona Pte Ltd by reason thereof and Renter agrees to hold Tarakona Pte Ltd harmless from and to defend and indemnify Tarakona Pte Ltd against all claims based upon or arising out of such loss or damage.
  4. Renter assumes all risk and liability for any loss, damage or injury, including death, to persons or property of Renter or others arising out of the use or operation of the Recovery Systems.

  5. Renter is responsible for the Recovery Systems and will reimburse Tarakona Pte Ltd, Legal Owner of Equipment, for the full cost of replacement upon demand for any damage, loss, theft, or destruction of the Recovery Systems. The Renter understands that Tarakona Pte Ltd will charge for any repair costs or the replacement costs of the Recovery Systems deemed necessary.

  6. The following restrictions are cumulative and each shall apply to every use, operation of the Recovery Systems. Under no circumstances shall the Recovery Systems be used, operated by and person: a) under the age of 18; or b) while under the influence of intoxicants or narcotics; or c) in an unsafe manner.

  7. Renter shall defend, indemnify and hold harmless Tarakona Pte Ltd, all of their members, shareholders, officers, affiliates, agents, servants and employees from and against any and all losses, liability claims, damages, injuries, demands, proceedings, suits and actions, and causes of action whatsoever, arising out of or related to any loss, liabilities, damage or injury, expenses and costs (including, but not limited to, reasonable attorneys’ fees and costs of investigation or preparation of defense) suffered by persons that may arise from the use, operation of the Recovery Systems, provided that such loss or damage was not caused by the gross negligence or intentional misconduct of Tarakona Pte Ltd or its employees.

  8. Renter assumes all costs and expenses of every kind and nature, including legal fees and disbursements arising out of and in connection with the use or operation of the Recovery Systems.

  9. Tarakona Pte Ltd assumes no liability or responsibility for any acts or omissions of Renter or of Renter’s members, shareholders, officers, affiliates, agents, servants or employees.

  10. Renter shall notify Tarakona Pte Ltd immediately of any and all accidents and damage resulting from the use or operation of the Recovery Systems.

  11. Renter agrees to pay all costs, expenses, and attorney’s fees incurred by Tarakona Pte Ltd in collecting sums due or in regaining possession of Recovery System or in enforcing or recovering any damage, losses or claims against Renter.

  12. Renter of the Recovery Systems shall in no event be deemed the agent or employee of Tarakona Pte Ltd in any manner or for any purpose whatsoever.

  13. Any individual executing this Agreement as Renter in a representative capacity shall be bound personally, jointly and severally, with such fiduciary, corporation or other entity as to all obligations, expressed or implied, arising hereunder.

  14. If, for any reason, any provision of this Agreement is held invalid, such invalidity shall not affect any other provision of this Agreement not so held invalid, and each such other provision shall to the full extent consistent with law continue in full force and effect.  If any provision of this Agreement shall be held invalid in part, such invalidity shall in no way affect the rest of such provision not held so invalid, and the rest of such provision, together with all other provisions of this Agreement, shall to the full extent consistent with law continue in full force and effect.

  15. Tarakona Pte Ltd reserves the right to refuse renting to anyone if deemed necessary due to various reasons.

  16. This Agreement shall be governed by and construed in accordance with the laws of Singapore and the Renter hereby irrevocably agrees to abide by the decisions of the Singapore Courts which shall be binding and final.