Art Rental Program:

Terms and Conditions

This Art Rental Agreement (the "Agreement") is entered into between Momentum Artistry Studio (the "Lessor") and you, the Renter (the "Lessee").

1. The Rental Agreement and Term

The Lessor retains full ownership of all artwork at all times. The Lessee is granted temporary possession and use of the specified art piece(s) for a 6-month rental period, commencing on the date the artwork is checked out by the Lessee. The Lessee acknowledges they are only a lessee and do not acquire any ownership rights to the artwork.

2. Payments and Deposits

By entering into this Agreement, the Lessee agrees to the following financial terms:

• Initial Payment: The first month's rental fee is due and payable at the time of checkout.

• Security Deposit: A refundable security deposit, equal to two (2) months' rent, is due at checkout. This deposit will be held by the Lessor to cover any potential damages to the artwork, late fees, or unpaid rental fees.

• Monthly Payments: The subsequent five (5) monthly payments are due on the same day of each following month. The Lessee agrees to make these payments on or before the due date.

• Late Fees: A late fee of $ will be applied for any payment not received within ten (10) days of the due date. The Lessor reserves the right to terminate this Agreement for consistent non-payment.

• Non-Payment: Failure to make a monthly payment may result in the immediate termination of this Agreement, the use of the security deposit to cover unpaid fees, and the requirement for the Lessee to immediately return the artwork to the Lessor.

3. Care of the Artwork

The Lessee is responsible for the proper care and security of the artwork during the rental period. The Lessee assumes all liability for any loss, theft, or damage to the artwork while it is in their possession.

• Prohibited Actions: The Lessee shall not make any modifications, repairs, or alterations to the artwork, including but not limited to reframing, cleaning, or restoration. The artwork must be handled with extreme care and kept in a secure, stable environment away from direct sunlight, extreme temperatures, or moisture.

• Definition of Damage: Damage includes, but is not limited to, scratches, dents, chips, fading, discoloration, tearing, water damage, or any alteration to the original state of the artwork. The security deposit will be applied towards the cost of repairing any damage to the artwork. If the repair cost exceeds the deposit amount, the Lessee agrees to pay the remaining balance.

4. Return of the Artwork

At the conclusion of the 6-month rental period, the Lessee must return the artwork to the Lessor.

• Condition of Return: The artwork must be returned in its original, undamaged condition, minus normal wear and tear. It must be packaged securely in its original packaging to ensure its safety during transit.

• Inspection and Deposit Refund: The Lessor will inspect the artwork upon its return. The security deposit will be refunded in full if the artwork is returned in its original condition and all rental fees have been paid. The refund will be processed within 5 business days following a successful inspection.

• Return Shipping: The Lessee is responsible for the cost and arrangement of returning the artwork to the Lessor.

5. Purchase Option

At any point during the rental period or at its conclusion, the Lessee may choose to purchase the artwork. Should the Lessee decide to buy the piece, they will receive a 10% discount off the original sale price.

6. Contract Termination

• Termination by Lessee: Should the Lessee wish to terminate the Agreement before the 6-month period is complete, they may do so, but the security deposit will be forfeited to cover the early termination.

• Termination by Lessor: The Lessor may terminate this Agreement immediately if the Lessee fails to make a monthly payment within thirty (30) days of its due date or violates any of the terms outlined in this Agreement. Upon termination, the Lessee must immediately return the artwork to the Lessor.

7. General Terms

• Entire Agreement: This document constitutes the entire agreement between the Lessor and the Lessee and supersedes any prior agreements or understandings, whether written or oral.

• Governing Law: This Agreement shall be governed by and construed in accordance with Australian Laws.

• Limitation of Liability: The Lessor is not liable for any injury, damage, or loss that may occur while the artwork is in the Lessee's possession.

By accepting the artwork and making the initial payment, the Lessee acknowledges that they have read, understood, and agreed to all the terms and conditions set forth in this Agreement.