DEVICE AND APPLICATION RENTAL AGREEMENT

SpecTech is billed as three year subscription. The monthly fee of $140 is billed for the first unit on your Walman Optical statement. Additional units will be billed at $105 per month on your Walman Optical Statement. 

THIS DEVICE AND APPLICATION RENTAL AGREEMENT (the “Agreement”) is an agreement between The Walman Optical Company, hereinafter referred to as Walman Optical, and the undersigned in order to rent a Walman Optical property to the undersigned on a monthly rental basis for the duration of this Agreement and the undersigned, hereinafter referred to as Renter, acknowledges and agrees to the following provisions:

1. APPLICATION OF THE AGREEMENT.

    

   This Agreement applies to the following Device and Application:

    

   Device Subject to Agreement

    

   The Device rental includes:

    

   • New Apple iPad
   • Apple Lightening to USB cable
   • iPad Case
   • Frame Reference Device (FRED)
     
   • Worth Avenue Group Insurance

      
     

      

     Application Subject to Agreement

      

   • Most recent release of, and all future release of SpecTech Software License.

      

     The Device and Application shall be collectively referenced as “Walman Optical Property”.

      

2. RENTAL PERIOD.

    

   The term of this agreement is for Thirty Six (36) months and commences on the date Walman Optical ships Walman Optical Property to the Renter. The term ends on the expiration of the number of months in the initial term after the rent commencement date unless otherwise extended.

    

   The delivery of Walman Optical Property to the Renter shall be at the location agreed by the Renter and Walman Optical.

    

3. RENTAL PAYMENT.

    

   Walman Optical shall rent the Walman Optical Property to the Renter during the rental period. The Renter shall pay the rental fees set out in the Schedule. The rental fees must be paid by the due date without any set off or deduction. ALL rental payments by Renter to Walman Optical are final and non-refundable. Renter is responsible for paying the rental fee each month, regardless of whether Renter uses Walman Optical Property or not.

    

4. TERM DEVICE USE.

    

   At the end of the rental period, the Renter shall immediately deliver Walman Optical Property to Walman Optical, at Renter’s expense, in a condition consistent with the performance of this contract.

5. OWNERSHIP.

    

   The Device and Application remains the property of Walman Optical at all times. The Renter shall hold no security or ownership interest in the Device. Likewise, the Renter shall hold no security or ownership interest neither in the licenses to the installed Application included with the Device. Renter must provide access or passcodes to the device upon request by Walman Optical. Subject to the terms of this Agreement, Renter has a limited, non-exclusive right to use Walman Optical Property.

    

   1. OPTION TO PURCHASE.

       

      This is not a finance contract or a lease-to-own agreement. Consequently, the Renter shall not be able to purchase Walman Optical Property at the end of the rental period defined in section 2.

       

      1. USE AND CARE OF DEVICE.

          

         Walman Optical and the Renter acknowledge that Walman Optical Property primary use will be by the Renter or his staff in relation to his/her business. The Renter and his staff will operate, maintain and store Walman Optical Property with due care and in compliance with the instructions and recommendations of Apple Inc. and pursuant to any directions given by Walman Optical. The Renter or his staff must not alter or replace any parts on Walman Optical Property. Renter shall immediately notify Walman Optical if Walman Optical Property is not in good condition or is in need of repair. All Walman Optical Property servicing and repair must be done through Walman Optical, and Walman Optical may provide the Renter with a loaner, should it be deemed necessary. All stipulations included in this agreement are binding on any Walman Optical Property loaned by Walman Optical to the Renter while original Walman Optical Property is being serviced or repaired. Renter is responsible for any deductibles that may apply in servicing or repairing Walman Optical Property, The Renter shall be financially responsible for repairs due to negligence. No personal stickers or writing is allowed on Walman Optical Property.

          

   2. LIMITATION OF USE.

       

      The Renter must not use Walman Optical Property for the following purposes: (1) re-rental to any third party (2) illegal activities.

       

   3. LOSS.

       

      The Renter assumes responsibility for the condition of Walman Optical Property. Walman Optical honors Apple's warranty on all Device for two years as an extended Apple Care warranty has been purchased. Walman Optical is not responsible for any damage or defect that does not fall within the scope of the manufacturer's warranty, and the Renter is responsible for any deductibles that may apply under the Apple Care warranty.

       

      1. INSURANCE.

          

         The iPad is covered by Worth Avenue Group Insurance. Coverage includes accidental damage, cracked screens, liquid submersion, theft, vandalism, fire, flood, natural disasters, and power surge by lightning. Any Claim will require a $50.00 Deductible and must include a police report. This coverage is given subject to the terms and conditions of the Worth Avenue Group Insurance contract attached to the Agreement.

      2. INDEMNITY OF WALMAN OPTICAL FOR LOSS OR DAMAGE.

          

         If Walman Optical Property is deemed by Walman Optical to be damaged or lost as a result of negligence, or any other reason not covered by the warranty or insurance, Walman Optical shall have the option of requiring the Renter to repair Walman Optical Property to a state of good working order or to reimburse Walman Optical for the full replacement cost of such device.

          

   4. CHANGE OF RENTER CONTACT INFORMATION.

       

      Any changes to Renter’s name, mailing address, physical address where Walman Optical Property is used, the Renter security password, or Renter’s telephone numbers during the course of this Agreement, shall be provided to Walman Optical by email to marketing@walmanoptical.com.

       

   5. PRIVACY.

       

      Walman Optical respects Renter’s privacy and cannot access or do not collect Renter’s personal data. Renter hereby expressly authorize and grant permission to Walman Optical to access Walman Optical Property information and status, location, application list, and license list. You expressly authorize and grant permission to Walman Optical to remotely lock a stolen or lost device. You expressly authorize and grant permission to Walman Optical to view if Walman Optical Property is rooted. Additionally, you expressly authorize and grant permission to Walman Optical to access your device’s Global Positioning System (GPS) location, cellular network location or other similar data.

       

   6. LIMITATION OF LIABILITY.

       

      IN NO EVENT SHALL WALMAN OPTICAL NOR ITS OFFICERS, DIRECTORS, EMPLOYEES WILL BE LIABLE TO THE CONTRACTING PARTY FOR ANY AMOUNTS NOR FOR ANY ACTIONS, LAW SUITS OR CLAIMS RELATED TO ANY DIRECT, INDIRECT, CONSEQUENTIAL, PUNITIVE DAMAGES (SUCH AS LOSS OF BUSINESS, LOSS OF PROFIT) ARISING OUT OF OR IN CONNECTION WITH THE RENTAL OR THE USE OF ANY WALMAN OPTICAL PROPERTY WHERE THE ACTION IS BASED ON CONTRACT OR IN TORT. YOU WILL INDEMNIFY AND HOLD WALMAN OPTICAL HARMLESS FROM ALL CLAIMS, LIABILITIES, DAMAGES, LOSSES OR EXPENSES ARISING OUT OF THE RENTAL AND/OR THE USE OF WALMAN OPTICAL PROPERTY.

       

   7. ENTIRE AGREEMENT AND MODIFICATION.

       

      This Agreement constitutes the entire agreement between the parties. No modification or amendment of this Agreement shall be effective unless in writing and signed by both parties. This Agreement replaces any and all prior Apple Device Use agreements between the parties.

       

   8. GOVERNING LAW.

       

      This Agreement shall be construed in accordance with the laws of the State of Minnesota.

       

   9. SEVERABILITY.

       

      If any portion of this Agreement shall be held to be invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If a court finds that any provision of this Agreement is invalid or unenforceable, but that by limiting such provisions, it would become valid and enforceable, then such provisions shall be deemed to be written, construed, and enforced as so limited.

      1. WAIVER.