Equipment Rental Agreement

Go Cardio Rentals

Equipment rental agreement

GO CARDIO RENTALS

EQUIPMENT RENTAL
AGREEMENT

THIS EQUIPMENT RENTAL AGREEMENT (this “Agreement”) is
current from the 25th of February 2025.

BETWEEN:

Go Cardio Rentals - ABN: 58 575 048 807

(the “Lessor”)

-AND-

The individual that will tick/sign and accept this
Agreement

(the “Lessee”)

(The Lessor and Lessee are collectively the “Parties”)

IN CONSIDERATION OF the mutual covenants and promises in
this Agreement, the receipt and sufficiency of which consideration is hereby
acknowledged, the Lessor leases the Equipment to the Lessee, and the Lessee
leases the Equipment from the Lessor on the following terms:

Definitions

The following definitions are used but not otherwise defined
in this Agreement:

“Casualty
Value” means the market value of the Equipment at the end of the
Term or when in relation to a Total Loss, the market value the Equipment
would have had at the end of the Term but for the Total Loss. The Casualty
Value may be less than but will not be more than the original purchase
price of the Equipment.

“Equipment” means
the machine that the lessee has paid to lease and may include the
following with their respective Casualty Values:

Concept BikeErg - $2145

Concept2 SkiErg - $2090

Concept2 RowErg Standard Height - $1705

Concept2 RowErg With Tall Legs - $1980

Rogue Echo Bike v.3.0 - $1375

Assault Fitness Airbike Classic - $800

“Total
Loss” means any loss or damage that is not repairable or that
would cost more to repair than the market value of the Equipment.

Lease

The Lessor agrees to lease the Equipment to the Lessee, and
the Lessee agrees to lease the Equipment from the Lessor in accordance with the
terms set out in this Agreement.

Term

The Agreement commences on the date of the delivery of the
equipment and will continue on a weekly basis for the minimum duration selected
by the customer on the website (6 weeks or 26 weeks) until the Lessor or the
Lessee terminates the Lease (the “Term”). After the minimum term is completed,
the agreement may be terminated by either the Lessor or the Lessee providing 14
days email notice to the other. During this 14 days the Lessee will still be
charged the weekly instalment fee. Go Cardio Rentals is contactable via email
at contact@gocardiorentals.com.au

Rent and Bond

The rent will be paid in instalments of the advertised and
agreed amount each week beginning on the day that the equipment is delivered
and be afterwards charge the same day of each succeeding week throughout the
Term (the “Rent”).

The Lessee will pay a bond of $150 per machine. The Lessor
will refund the bond, minus any fees, to the Lessee at the end of the Term
provided that the Lessee has performed all of the Lessee’s obligations under
this Agreement.

The Lessee cannot cancel their Lease before the minimum
rental period is complete. If the Lessee wants to return the equipment before
the minimum rental period is complete, they may do so, however they must still
pay for the entirety of the minimum rental period.

The Bond will be returned to the Lessee only after the
Lessee has paid all amounts owing to the Lessor for the delivery and hire of
the equipment, and the equipment has been collected and inspected and is in the
same condition and working order as before the lease commenced.

Billing

Payment of the weekly rental fee will be made weekly using
Stripe Inc. The Lessee agrees to all Terms and Conditions of Stripe Inn by engaging
of Stripe Inc by engaging in it’s use for the purpose of this billing.

The customer must have a valid debit/credit card with
sufficient funds for payments to be successful. If after 3 attempts, Stripe is
unable to successfully process the payment, the Lessor will contact the Lessee
to issue a payment reminder. If after 21 days this has not been rectified it
will result in immediate Default. Refer to “Default”.

Delivery of Equipment

The Lessor will, at the Lessor’s own risk, deliver the
Equipment to the Lessee at the address provided for the original order.

Use of Equipment

The Lessee will use the Equipment in a good and careful
manner and will comply with all of the Lessor’s requirements and
recommendations respecting the Equipment and with any applicable law, whether
local, state, or federal respecting the use of the Equipment, including, but
not limited to, environmental and copyright law.

The Lessee will use the Equipment for the purpose for which
it was designed and not for any other purpose.

Unless the Lessee obtains the prior written consent of the
Lessor, the Lessee will not alter, modify, or attach anything to the Equipment
unless the alteration, modification, or attachment is easily removable without
damaging the functional capabilities or economic value of the Equipment.

If the Lessee moves the equipment from the address listed as
“Delivery Address” in the Shopify checkout or other signed contract they must first
notify the Lessor.

Repair and Maintenance of Equipment

The Lessee will, at the Lessee’s own expense, keep the
Equipment in good appearance, and condition, normal and reasonable wear and
tear excepted. If equipment requires repair due to a defect or other mechanical
failure or breakage, the Lessee must immediately discontinue use of the
machine, contact the Lessor by email to notify them of the condition of the
machine and circumstance in which the defect occurred/was found. The Lessee
must not attempt to fix the machine themselves and must wait for the response
of the Lessor before attempting any repairs. The Lessor is obligated to ensure
the prompt repair of any equipment failure.

If the Equipment is not in good repair, appearance, and
condition when it is returned to the Lessor, the Lessor may make such repairs
or may cause such repairs to be made as are necessary to put the Equipment in a
state of good repair, appearance, and condition, normal wear and tear excepted.
The Lessor will make said repairs after taking possession of the Equipment and
will give the Lessee written notice of and invoices for the said repairs. The
expense of the repairs will be deducted from the Deposit or paid by the Lessee.

The Lessee may, but is not obliged to, enforce any warranty
that the Lessor has against the supplier or manufacturer of the Equipment. The
Lessee will enforce such warranty or indemnity in their own name and at their
own expense.

Purchasing the Equipment

Purchase of the equipment is not available.

Warranties

The Equipment will be in good working order and good
condition upon delivery.

The Equipment is of merchantable quality and is fit for the
purposes it is ordinarily used.

Loss and Damage

To the extent permitted by law, the Lessee will be
responsible for risk of loss, theft, damage, or destruction to the Equipment
from any and every cause.

If the Equipment is lost or damaged, the Lessee will
continue paying Rent, will provide the Lessor with prompt written notice of
such loss or damage and will, if the Equipment is repairable, put or cause
Equipment to be put in a state of good repair, appearance, and condition.

In the event of Total Loss of the Equipment, the Lessee will
provide the Lessor with prompt written notice of such loss and will pay to the
Lessor all unpaid Rent for the Term plus the Casualty Value of the Equipment,
at which point ownership of the Equipment passes to the Lessee.

Ownership, Right to Lease, and Quiet Enjoyment

The Equipment is the property of the Lessor and will remain
the property of the Lessor unless in the event of Total Loss and the Lessee has
paid to the Lessor all unpaid Rent for the Term plus the Casualty Value of the
Equipment.

The Lessee will not encumber the Equipment or allow the
Equipment to be encumbered or pledge the Equipment as security in any manner.

The Lessor warrants that the Lessor has the right to lease
the Equipment to the terms in this Agreement.

The Lessor warrants that as long as no Event of Default has
occurred, the Lessor will not disturb the Lessee’s quiet and peaceful
possession of the Equipment or the Lessee’s unrestricted use of the Equipment
for the purpose for which the Equipment was designed.

Surrender

At the end of the Term or upon earlier termination of this
Agreement, the Lessee will make the Equipment ready for pick up at the address
provided for the original order. If the Lessee fails to make the Equipment
available for pick up, the Lessee will pay to the Lessor any unpaid Rent for
the Term plus the Casualty Value of the Equipment at which point ownership of
the Equipment will pass to the Lessee.

Insurance

The Lessee will assume all risks and liabilities for and in
respect of the Equipment and for all injuries to or deaths of persons and any
damage to property howsoever arising from the Hirer’s possession, use,
maintenance, repair or storage of the Equipment. The Leasor does not provide
any insurance for any injury or death to any persons while using the equipment.

Indemnity

The Lessee will indemnify and hold harmless the Lessor
against any and all claims, actions, suits, proceedings, costs, expenses,
damages, and liabilities, including attorney’s fees and costs, arising out of
or related to the Lessee’s use of the Equipment.

Default

The occurrence of any one or more of the following events
will constitute an event of default (“Event of Default”) under this Agreement:

The Lessee fails to pay any amount provided for in this Agreement within 21 days
after the due date or otherwise breaches the Lessee’s obligations under
this Agreement.
The Lessee becomes insolvent or makes an assignment of rights or property for
the benefit of creditors or files for or has bankruptcy proceedings
instituted against them under the bankruptcy law of Australia or another
competent jurisdiction.
A writ of attachment or execution is levied on the Equipment and is not
released or satisfied within 10 days.

Remedies

On the occurrence of an Event of Default, the Lessor will be
entitled to pursue any one or more of the following remedies (the “Remedies”):

Declare the entire amount of the Rent for the Term immediately due and payable
without notice or demand to the Lessee.
Apply the Deposit toward any amount owing to the Lessor.
Commence legal proceedings to recover the Rent and other obligations accrued before
and after the Event of Default.
Take possession of the Equipment, without demand or notice, without any court
order or other process of law. The Lessee waives any and all damage
occasioned by such taking possession.
Terminate this Agreement immediately upon written notice to the Lessee.
Pursue any other remedy available in law or equity.

Assignment

THE LESSEE WILL NOT ASSIGN THIS AGREEMENT, THE LESSEE’S
INTEREST IN THIS AGREEMENT, OR THE LESSEE’S INTEREST IN THE EQUIPMENT WITHOUT
THE PRIOR CONSENT OF THE LESSOR.

If the Lessee assigns this Agreement, the Lessee’s interest
in this Agreement or the Lessee’s interest in the Equipment without the prior
consent of the Lessor, the Lessor will have recourse to the Remedies and will
be entitled to all damages caused by the assignment.

Entire Agreement

This Agreement will constitute the entire agreement between
the Parties. Any prior understanding or representation of any kind preceding
the date of this Agreement will not be binding on either Party except to the
extent incorporated in this Agreement.

NOTICE TO LESSEE:

YOU ARE NOT BUYING THIS EQUIPMENT. ENSURE YOU READ THIS
AGREEMENT BEFORE ACCEPTING IT. YOU ARE ENTITLED TO A COPY OF THIS AGREEMENT.

The Agreement commences on the date of the original delivery
and will continue on a weekly basis for a minimum of 10 weeks until the Lessor
or the Lessee terminates the Lease (the “Term”). This Agreement may be
terminated by either the Lessor or the Lessee providing 14 days written notice
to the other. During this 14 days the Lessee will still be charged the weekly instalment
fee.