Rental Policies

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Columbus Equipment Company, Inc. d/b/a Columbus Equipment Rentals, hereinafter referred to as "Lessor", or "LESSOR", leases to the customer, hereinafter referred to as "Lessee" or "LESSEE", the equipment, vehicles, machines or tools, hereinafter referred to as the "Equipment," or "EQUIPMENT", subject to the terms and conditions as follows:

1. The Rental Agreement is on of rental only and nothing herein contained shall be construed as conveying to the Lessee any right, title, or interest in and to the Equipment except as a Lessee only. The rental of the Equipment hereunder shall not be construed as an offer to sell the Equipment. It is understood and agreed that rentals paid will not apply toward any subsequent purchase of the Equipment unless an agreement in writing is made prior to delivery of the Equipment.

BILLINGS

2. Rental Equipment shall be paid in advance unless otherwise agreed to in writing, provided that on rentals of Equipment for periods in excess of one month, and/or the initial term, invoices will be rendered monthly.

3. Rental rates for the day are based upon one shift of 8 hours per day; for the week, upon 40 hours per week; for one month, upon 160 hours per month of a 28-consecutive-day period. In the event that the Equipment is used longer than the above specified time for any period, rental for overtime will be charged as of follows:

Daily basis: 1/8 of the daily rate for each hour used in excess of 8 hours in any one day.
Weekly basis: 1/8 of the daily rate for each hour used in excess of 40 hours in any one weekly period.
Monthly basis: 1/40 of the weekly rate for each hour used in excess of 160 hours in any four-week period.

RENTAL TERMS

4. On local rentals the Rental Period shall commence at the time when the Equipment leaves the Lessor's warehouse and shall terminate when the Equipment is re-delivered to Lessor's custody at the Lessor's warehouse or receiving point. On out-of-town rentals, the Rental Period shall commence on and include the date of the bill of lading of shipment to the Lessee and shall terminate on and include the date of return to the Lessor's warehouse or receiving point.

DIRTY OR DAMAGED EQUIPMENT

5. Lessee acknowledges that Lessee has examined the Equipment and that it is in good condition and repair. Lessee accepts the Equipment as is and agrees to use reasonable care in the operation of the Equipment. Upon termination of the rental, Lessee shall return the Equipment to the Lessor's warehouse in as good condition as when received by the Lessee, ordinary wear and tear excepted. Lessee shall pay for any damage to the Equipment and for any missing parts of accessories at the rate and price customarily charged by the Lessor for repair or replacement of parts and accessories. Lessee shall also pay all cost of cleaning the Equipment if required to return the Equipment to the same condition as when received by Lessee.

6. Lessee shall be responsible for the knowledge of, understanding of, and compliance with all applicable standards, codes, laws, regulations, and rules, both voluntary and mandatory, governing the operation and use of the equipment. Lessee shall be responsible for the identification and choice of persons to be trained in the operation and use of the equipment.

7. In the event of loss or destruction of the Equipment or any of its parts or accessories for any reason, or the failure to return the same for any reason, the Lessee shall promptly pay the Lessor the fair market value thereof as determined by Lessor.

INSURANCE

8. AFTER DELIVERY OF EQUIPMENT TO LESSEE AND UNTIL RE-DELIVERY THEREOF TO LESSOR, ALL RISK OF LOSS, INJURY OR DESTRUCTION TO THE EQUIPMENT OR CAUSED BY THE EQUIPMENT, SHALL BE THE RESPONSIBILITY OF THE LESSEE. LESSEE AGREES TO INDEMNIFY, DEFEND, AND SAVE/HOLD THE LESSOR HARMLESS FROM AND AGAINST ANY AND ALL INJURIES OR DEATHS OF PERSONS AND/OR DAMAGES TO PROPERTY RESUTLING FROM OR ARISING OUT OF OR IN CONNECTION WITY THE USE, CONDTION, OPERATION, OR LEASE OF THE EQUPMENT OR LESSOR'S CONDUCT IN ANY WAY RELATING TO THE EQUIPMENT (COLLECTIVELY THE "INDEMNIFIED CALIMS".) IT IS UNDERSTOOD THAT THIS INDEMNITY PROVISION WILL APPLY EVEN IF SUCH "INDENMIFIED CLAIMS" WERE CAUSED IN WHOLE OR IN PART BY ANY ACT, OMISSION, NEGLIGENCE, GROSS NEGLIGENCE, BREACH OF CONDUCT OF ANY TYPE BY LESSOR. IT IS THE INTENTION OF LESSOR AND LESSEE THAT THIS INDENMIFY SHALL SURVIVE THE EXECUTON OF THIS AGREEMENT AND SHALL NOT REQUIRE PAYMENT AS CONDITON PRECEDNET TO RECOVERY.

9. LESSEE AGREES TO MAINTAIN, AT ITS OWN EXPENSE FOR THE PROTECTION OF THE LESSOR, ADEQUATE INSURANCE FOR COMPREHENSIVE GENERAL LIABILITY AND PROPERTY/ PHYSICAL DAMAGE, INCLUDING AL LRISKS COERED BY THE STANDARD EXTENDED COVERAGE ENDORSEMENT AND TO COVER ANY DAMAGE OR LIABILITY ARISING FROM THE HANDLING, TRANSPORTATION, MAINTENANCE, OPEATION OR USE OF THE EQUIPMENT DURING THE ENTIRE PERIOD OF RENTAL HEREUNDER, LESSEE SHALL MAINTAIN INSURANCE IN EFFECT WITH AN INSURANCE COMPANY SATISFACTOR TO LESSOR, UNTIL SUCH RENTAL/LEASE IS OCMPLETED AND THE EQUIPMENT RE-DELIVERED STO LESSOR, WITH LIMITS NOT LES THAN MINUMUM AMOUNT SET FORTH BELOW (AT LESSOR'S REQUEST, LESSEE SHALL FURNISH SATISFACTORY EVIDENCE OF SUCH COVERAGE).

A) WORKERS COMPENSATION INSURANCE IN ACCORDANCE WITH THE STATUTORY REQUIREMENTS OF THE STATE IN WHICH THE EQUIPMENT IS BEING USED.
B) EMPLOYER'S LIABILITY INSURANCE WITH MINIMUM COVERAGE OF $500,000.00.
C) COMPREHENSIVE LIABILITY INSURANCE, INCLUDING CONTRACTUAL COVERAGE COVERING THE FOREGOING INDEMNIFICAITON CONTAINED IN PARAGRAPH "8" HEREIN WITH MINIMUM LIMITS OF $1,000,000. PER OCCURRENCE FOR PROPERTY DAMAGE WITH A $2,000,000. AGGREGATE.

SUCH INSURANCE SHALL BE ENDORSED TO NAME LESSOR AS AN "ADDITIONAL INSURED" AND SHALL BE ENDORSED TO PROVIDE THAT SUCH INSURANCE IS PRIMARY TO ALL OTHER AVAILABLE COVERAGE TO LESSOR, REGARDLESS OF THE AVAILABILITY OF OTHER INSURANCE. IN ADDITION, LESSEE AGREES THAT ALL INSURANCE REFERENCED IN THIS PARAGRAPH SHALL PROVIDE THAT THE UNDERWRITERS WAIVE THEIR RIGHTS OF SUBROGATION AGAINST LESSOR.

FUEL CHARGES

10. Lessee agrees to furnish at is own expense, fuels (including low sulfur diesel for "on-road" use of Equipment) and lubricants necessary for the operation of the Equipment.

11. Lessee will not permit the Equipment to be used or operated in violation of any federal, state and municipal statute, law, ordinance, rule or regulation and will indemnify, defend and hold the Lessor harmless from any and/or all fines or penalties when incurred, for the violation of any statute law, ordinance, rule or regulation or any duly constituted public authority.

12. This Rental Agreement shall terminate at the option of the Lessor, in the event that the Lessee shall default in the performance of any provision hereunder or in the event Lessee is declared insolvent or bankrupt, or a receiver is appointed, or in the event any petition for bankruptcy is filed by or against Lessee, or in the event any proceedings are demanded by, for or against the Lessee under provision of the Federal Bankruptcy Act or any amendment thereof. The Lessor shall have the right to terminate this Rental Agreement at any time and to take possession of the Equipment wherever found with or without process of law, and or such purpose may enter upon any premises of Lessee and remove the Equipment without liability to Lessor.

13. In the event that suit is instituted by the Lessor to recover possession of the Equipment or to enforce any of the terms, conditions or provisions hereof or to collect any sum or sums, of money, damages or costs from the Lessee under the Rental Agreement, the Lessee agrees to pay all costs and reasonable attorneys' fee incurred by Lessor in such suit or suits.

14. The Lessor shall not be liable to the Lessee for any loss or liability of any kind, including, without limitation, consequential or indirect damages, resulting from failure to deliver the Equipment at a specified time, or resulting from defects in, any or any efficiency or breakdown of the Equipment.

15. The provision of paragraphs, 5, 7, and 9 above provide, among other things, that the Lessee is responsible to the Lessor for any loss or damage to the Equipment and for its return in the same condition in which received, ordinary wear and tear excepted. If however, Lessee accepts the Physical Damage Waiver on the front side of this Rental Agreement, and if Lessee notifies Lessor in writing of policy reports. Lessor will waive its right to recover from the Lessee seventy-five percent (75%) of loss or damage to the rented Equipment caused by the following:

Direct physical loss or damage to the Equipment caused by: (1) fire, (2) lightning, (3) windstorm, (4) hail, (5) aircraft, (6) smoke, (7) flood surface water, waves, tidal water or tidal waves, overflow of streams or any bodies of waters, or spray from any of the foregoing, (8) explosion, (9) earthquake, (10) collapse of bridges or culverts, (11) riot, (12) riot attending a strike, (13) civil commotion, (14) standing, sinking, burning or collision of vessels, and (15) vandalism and malicious mischief.

Notwithstanding the physical damage waiver, Lessee is liable to Lessor for loss or damage to Lessor for loss of damage to the Equipment in the following respects:
(1) any corrosion or any other damaging chemical reaction caused by industrial emissions into the environment in which the Equipment is used, (2) loss or damage caused by the use of operation of the Equipment in violation of the Rental Agreement, (3) loss or damage impending or expected attack by military, naval or air forces or terrorism, (5) loss or damage to tires or tools unless caused by fire, windstorm or vandalism and malicious mischief or coincident wit other from artificial causes unless fire, explosion or other casualty covered hereunder ensures, and then only for loss or damage caused by such ensuing , fire, explosion or other casualty, (7) loss or damage radiation or radioactive contamination, all whether controlled or uncontrolled and whether such loss by direct or indirect, proximated or remote, or be in whole or in part caused by, contributed to, or operation, or (12) loss from theft or any type of mysterious disappearance of the Equipment or shortages discovered on inventory.

Lessor and Lessee acknowledge that nothing in this provision or Rental Agreement is intended to be construed as creating an insurer/insured relationship between Lessor and Lessee in regard to the Equipment, persons operating the Equipment, or any situation which may arise as a result of this Rental Agreement.

16. This Rental Agreement and all claims, disputes and transactions arising out of this Rental Agreement shall be governed by and construed according to the laws of the State of Ohio.

17. This Rental Agreement contains the entire understanding and agreement with respect to the rental of the Equipment, and no representation, promises or agreements, oral or otherwise, not contained herein, shall be of any force and effect. Any subsequent amendment to the Rental Agreement shall be in writing. Lessor's waiver or failure to insist on strict performance of any provision hereunder shall not be construed as a waiver of any other provision or of the right to require performance of all provisions by the Lessee.

18. If any clause or sub clause contained in the Rental Agreement is found to be enforceable as a matter of law then that clause or sub clause shall be treated by the parties as having been severed from this Rental Agreement so that the remainder of the clause and the Rental Agreement shall be enforceable.

19. Lessor and Lessee acknowledge that the terms of this Rental Agreement and corresponding rights and obligations are designed for the primary sole benefit of Lessor and Lessee and there are not intended third-party beneficiaries of any provision of this Rental Agreement. Further, Lessor and Lessee acknowledges that they are not engaged in a joint venture or other enterprise involving any use of the Equipment by the Lessee pursuant to this Rental Agreement as Lessor has:

A) no interest in the object of the enterprise for which the Equipment may be used by Lessee.
B) Lessor has no right to direct or control the enterprise for which the Lessee uses this Equipment, and
C) Lessor has no pecuniary interest in the enterprise for which Lessee uses the Equipment.