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Information and Acknowledgment About your Lease

Your Agreement is a lease-purchase or rental-purchase contract with J&Y Business Group, which is the parent company of LeaseVille. This is not a loan or credit transaction. Your lease includes a 100 Day Cash Price or other early purchase options.

You understand that by signing the Agreement, LeaseVille will lease the merchandise to you.

During the term of your Lease, LeaseVille is the owner of the merchandise. Once you’ve paid your lease in full, or exercised a buyout option, ownership will transfer to you. The least expensive option to purchase under the Agreement must be exercised within 100 days of delivery. Regularly scheduled lease payments are still due even if you intend to purchase the merchandise later.

Lease payments will be deducted automatically from your bank account, charged to your card, or made at another authorized vendor or payment processor, depending upon information you gave in your Lease application. Charges will appear on your statements as J & Y Business Group or LeaseVille.

You may stop leasing at any time, without incurring a penalty, and stop any unaccrued payments by returning the merchandise to LeaseVille. You will not receive a refund if you return the merchandise early.

Your Lease Agreement includes reinstatement rights that may allow you to get returned merchandise back, as described in your Agreement.

Full terms are in your Lease Agreement, which will be e-mailed to you. The copies sent are computer-generated and may not include your signature.

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KNOW YOUR RIGHTS
Here are some of your key rights:

Canceling your lease
You can cancel your lease at any time before your first lease payment is processed. After your first lease payment is processed, you may stop leasing at any time, without incurring a penalty, and stop any unaccrued payments by returning the merchandise to LeaseVille.

Early Purchase Option (EPO)
If you are current, you may purchase the Property at any time by exercising your Early Purchase Option. During the first 100 days, your EPO Price will be the 100 Day Cash Price listed in the lease plus tax less 100% of all rental payments and any unpaid amount you owe us.

After 100 days, your EPO Price will be 50% of your remaining balance, which is the Total Cost listed in the lease plus tax, less all rental payments made.

Reinstating your lease after default
If you fail to make a timely rental renewal payment, this Agreement expires. You can reinstate it without losing any rights or options previously acquired by making all payments due or returning the Property to us as soon as we ask you to. If you return the Property to us promptly, you will have 60 days from the date of return to reinstate by making all payments due. If you reinstate, we will furnish you with the same Property or property of comparable quality and condition.

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Price Tag Disclosure

When you sign your lease, J&Y Business Group/LeaseVille will lease you the merchandise you have selected and enter a lease-purchase or rental-purchase contract with you for the merchandise.

 

The following table shows certain financial details of the lease:

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NOTICE

You are renting this property. You will not own it until you make all of the regularly scheduled payments or you use the early purchase option.

You do not have the right to keep the property if you do not make required payments or do not use the early purchase option. If you miss a payment, the lessor can repossess the property, but, you may have the right to the return of the same or similar property.

See the Agreement for an explanation of your rights.

I have been given a copy of this price tag before being given a rental agreement to sign.

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In this Agreement, “we,” “us,” and “our” refer to LeaseVille, Lessor. “You” and “your” refer to the person(s) signing this Agreement as the Lessee/Rental Customer. “Agreement” refers to this Rental-Purchase Agreement. “Property” refers to the rental property described below.

1. Description of the Property:

(See Price Tag Disclosure Page)

2. Initial Rental Payment. Your initial Rental payment due when you sign this Agreement includes the following charges:

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This Initial Payment covers your initial rental payment, processing fee if applicable, tax and is due when you sign this Agreement. Your Initial Payment may be for a longer or shorter period than a regular periodic payment term so we can match your renewal periods with your paydays or on another schedule that you prefer. Your Initial Term is two weeks, one bi-weekly or one semi-monthly period, starting from the date we receive your first payment. After the initial term, you have three options: (1) you can continue using the Property by making a rental renewal payment in advance; (2) you can purchase the Property (see item 5 below); or (3) you can return the Property to us with no further obligation, except for any past due payments due.

3. Rental Period Dates. After the initial term as indicated above you have three options: (1) you can continue using the Property by making a rental renewal payment in advance; (2) you can purchase the Property (see section 5 below); or (3) you can return the Property to us with no further obligation, except for any past due payments due.

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6. Loss of or Damage to the Property. You are responsible for the loss or damage to the Property in excess ofnormal wear and tear from all causes. Your liability will be the lesser of the cost of repair or the fair market value of the Property on the date of the loss. We do not carry insurance on the Property. You are responsible for its safety until you return it to us. You are not required to purchase insurance or liability damage waiver for the Property from us or from any vendor owned or controlled by us.

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7. Other Charges. These fees are all reasonably related to the services performed.

a) Bank or Card-Declined Charge: If your payment is denied for any reason, you must pay us a $10.00 charge to cover our costs in processing your payment in addition to your rental payment.

b) Late Fee: If you do not make a rental payment within 7 days of the renewal date, you must pay us a Late Fee equal to $3 plus your rental payment to continue using the Property.

c) Processing Fee: This is the fee for reviewing your application and opening your account with us.

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8. Reinstatement. If you fail to make a timely rental renewal payment, this Agreement expires. You can reinstate it without losing any rights or options previously acquired by making all payments due or returning the Property to us as soon as we ask you to. If you return the Property to us promptly, you will have 60 days from the date of return to reinstate by making all payments due. If you reinstate, we will furnish you with the same Property or property of comparable quality and condition.

9. Maintenance, Repairs, and Warranty: You are responsible for maintaining the Property in good working condition during the rental term. We will not be responsible for the costs or the results of any repairs or damage caused by improper use. You must notify us immediately if the Property breaks and send us written records of any repairs. We will assist you if any maintenance or service required on the Property is covered by a manufacturer’s warranty. If any part of a manufacturer’s warranty, or third-party warranty, covers the Property at the time you acquire ownership, the warranty will be transferred to you, if allowed by the terms of the warranty. To the extent permitted by law, we do not provide any Warranty of Merchantability or Fitness for a Particular Purpose, either Express or Implied, on the Property. You are renting the Property, “as is” and “with all faults.”

10. Termination and Default.

a) You may terminate this Agreement at any time by returning the Property to us in good condition, fair wear and tear excepted, or by making arrangements with us for its return and paying any past due amounts you owe. We may terminate this Agreement if you fail to keep any of your agreements. We may notify you of termination in writing, or by e-mail, or by telling you. You agree to pay us the fair market value of the Property if you fail to return it to us when this agreement terminates or make prompt arrangement with us for its return. You remain liable for rental payments until the Property is returned to us.

b) Return of Property upon Termination. If this Agreement is terminated for any reason, you agree to provide for the immediate return of this Property to us in good condition, fair wear and tear excepted. You can make arrangements for return of the Property by calling us at the number listed above.

11. Reimbursement of Costs. If you do not keep this Agreement, in addition to other charges you may owe us, you understand that you will have to pay us for all reasonable costs we incur in getting our Property back. These costs may include attorney’s fees and court costs if they are incurred and permitted by state law.

12. Equity. You understand that we own the Property until you buy it or obtain ownership as stated in this Agreement. During the rental term, you do not have any ownership interest in this Property at all until you make all payments necessary for ownership or exercise your early purchase option, and you do not have the right to a refund of any rental payments when this Agreement is terminated.

13. Location of Property and Inspection. You agree to keep this Property on your person or at the address shown above. If you remove this Property without our written permission, we have the right to terminate this Agreement immediately. You agree that we have the right to inspect the Property at all reasonable times.

14. Lockdown Feature. The Property may have been equipped with a remote shut-off feature. If you fail to make a timely rental payment we can send alerts to you, and also render the Property inoperable. You will have to contact us and renew this Agreement in order to use the Property again. We are not responsible for lost data.

15. Assignment. You have no right to sell, transfer, assign, pawn, pledge, sub-lease or encumber the Property or this Agreement in any way. We may sell, transfer, or assign our rights in this Agreement.

16. Damage to Other Property. You understand that we will not be responsible for any loss or damage to any property arising out of your use of the Property.

17. Consent to Contact You. You agree that we or our agents can contact you regarding your account with us via telephone, including cell phones, or text message at any number you have given us or that you give us in the future, even if you are charged for the call. You also agree that we can contact you using automatic dialing or with prerecorded messaging. You acknowledge that the number(s) you have given us are for phone(s) that belong to you. You can cancel this consent to get automatic dialing or prerecorded messaging calls by notifying us of your desire to do so.

18. Miscellaneous Provisions. You understand that time is of the essence in this Agreement. You understand that no changes may be made to this Agreement except by us in writing. You agree that we have not made any promises or representations about this Agreement or the Property other than those contained in this Agreement. You agree that you have received the Property in satisfactory condition.

19. Liability Waiver: The lessee acknowledges that the lessor shall not be liable for any injury, death, or damage sustained by the lessee or any third party arising from the use of the equipment.

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20. ARBITRATION AND WAIVER OF JURY TRIAL. PLEASE READ THIS PROVISION OF THE AGREEMENT CAREFULLY. UNLESS YOU EXERCISE YOUR RIGHT TO OPT-OUT OF ARBITRATION IN THE MANNER DESCRIBED BELOW, YOU AGREE THAT ANY DISPUTE WILL BE RESOLVED BY BINDING ARBITRATION. ARBITRATION REPLACES THE RIGHT TO GO TO COURT, INCLUDING THE RIGHT TO HAVE A JURY TRIAL, TO ENGAGE IN DISCOVERY (EXCEPT AS MAY BE PROVIDED FOR IN THE ARBITRATION RULES), AND TO PARTICIPATE AS A REPRESENTATIVE OR MEMBER OF ANY CLASS OF CLAIMANTS OR IN ANY CONSOLIDATED ARBITRATION PROCEEDING OR AS A PRIVATE ATTORNEY GENERAL. OTHER RIGHTS THAT YOU WOULD HAVE IF YOU WENT TO COURT MAY ALSO BE UNAVAILABLE IN ARBITRATION.Agreement to Arbitrate. You and we (defined below) agree that any Dispute (defined below) will be resolved by Arbitration. This agreement to arbitrate is governed by the Federal Arbitration Act, 9 U.S.C. § 1 et seq., and the substantive law of the State of where you live (without applying its choice-of-law rules). Nothing in this arbitration agreement is intended to prevent either of us from filing a lawsuit in an appropriate small claims court for an amount that does not exceed the court’s jurisdictional limits. If counterclaims or other motions would cause the lawsuit to be removed from small claims court to another court, the dispute must be resolved by arbitration.What Arbitration Is. “Arbitration” is a means of having an independent third party resolve a Dispute. A “Dispute” is any claim or controversy of any kind between you and us. The term Dispute is to be given its broadest possible meaning and includes, without limitation, all claims or demands (whether past, present, or future, including events that occurred prior to origination of your Rental-Purchase Agreement (“Agreement”) and whether or not an Agreement is provided to you, based on any legal or equitable theory (contract, tort, or otherwise) and regardless of the type of relief sought (i.e., money, injunctive relief, or declaratory relief). A Dispute includes, by way of example and without limitation, any claim based upon a federal or state constitution, statute, ordinance, regulation, or common law, and any issue concerning the validity, enforceability, or scope of this arbitration agreement. For purposes of this arbitration agreement, the terms “you” and “your” include any co-signer, co-obligor, or guarantor and also your heirs, guardian, personal representative, or trustee in bankruptcy. The terms “we,” “our,” and “us” mean Lessor and include Lessor’s employees, officers, directors, members, managers, attorneys, affiliated companies, predecessors, and assigns, as well as Lessor’s marketing, servicing, and collection representatives and agents.How Arbitration Works. If a Dispute arises, the party asserting the claim or demand must initiate arbitration, provided you or we may first try to resolve the matter informally or through customary business methods, including collection activity. The party filing an arbitration must choose either of the following arbitration firms for initiating and pursuing an arbitration: the American Arbitration Association (“AAA”) or JAMS, The Resolution Experts (“JAMS”). If the parties mutually agree, a private party, such as a retired judge, may serve as the arbitrator. If you claim you have a Dispute with us, but do not initiate an arbitration or select an arbitrator, we may do so. You may obtain copies of the current rules of each of the arbitration firms and forms and instructions for initiating an arbitration by contacting them as follows:

American Arbitration Association 120 Broadway, 21st Floor New York, NY 10271 Website: www.adr.org Telephone (800) 778-7879

JAMS, The Resolution Experts 18881 Von Karman Ave., Suite 350 Irvine, CA 92612 Website: www.jamsadr.com Telephone (949) 224-1810 or (800) 352-5267

The policies and procedures of the selected arbitration firm will apply provided such policies and procedures are consistent with this arbitration agreement. To the extent the arbitration firm’s rules or procedures are different than the terms of this arbitration agreement, the terms of this arbitration agreement will apply.
What Arbitration Costs. No matter which party initiates the arbitration, we will advance or reimburse filing fees and other costs or fees of arbitration, provided each party will be initially responsible for its own attorneys’ fees and related costs. Unless prohibited by law, the arbitrator may award fees, costs, and reasonable attorneys’ fees to the party who substantially prevails in the arbitration.
Location of Arbitration. Unless you and we agree to a different location, the arbitration will be conducted within 30 miles of your then current mailing address.
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Waiver of Rights. You are waiving your right to a jury trial, to have a court decide your Dispute, to participate in a class action lawsuit, and to certain discovery and other procedures that are available in a lawsuit. You and we agree that the arbitrator has no authority to conduct class-wide arbitration proceedings and is only authorized to resolve the individual Disputes between you and us. The validity, effect, and enforceability of this waiver of class action lawsuit and class-wide arbitration, if challenged, are to be determined solely by a court of competent jurisdiction and not by the AAA, JAMS, or an arbitrator. If such court refuses to enforce the waiver of class-wide arbitration, the Dispute will proceed in court and be decided by a judge, sitting without a jury, according to applicable court rules and procedures, and not as a class action lawsuit. The arbitrator has the ability to award all remedies available by statute, at law, or in equity to the prevailing party.
Applicable Law and Review of Arbitrator’s Award. The arbitrator shall apply applicable federal and the substantive law of the state where you live and the terms of this Agreement. The arbitrator must apply the terms of this arbitration agreement, including without limitation the waiver of class-wide arbitration. The arbitrator shall make written findings and the arbitrator’s award may be filed with any court having jurisdiction. The arbitration award shall be supported by substantial evidence and must be consistent with this Agreement and with applicable law, and if it is not, it may be set aside by a court.
The parties shall have, in addition to the grounds referred to in the Federal Arbitration Act for vacating, modifying, or correcting an award, the right to judicial review of (a) whether the findings of fact rendered by the arbitrator are supported by substantial evidence and (b) whether the conclusions of law are erroneous under the substantive law of the state where you live and applicable federal law. Judgment confirming an award in such a proceeding may be entered only if a court determines that the award is supported by substantial evidence and is not based on legal error under the substantive law of the state where you live and applicable federal law.
Survival. This arbitration provision shall survive: (1) cancellation, payment, charge-off, or assignment of this Agreement; (2) the bankruptcy of any party; and (3) any transfer, sale, or assignment of this Agreement, or any amounts owed under this Agreement, to any other person or entity. Right to Opt-Out. If you do not wish to agree to arbitrate all Disputes in accordance with the terms and conditions of this section, you must advise us in writing at our address, above, by either hand delivery or a letter postmarked no later than thirty (30) days following the date you enter into this Agreement. You may opt-out without affecting your application or status as a lessee at our address above.

21. EFT and Card Charge Authorization: You authorize us to initiate an electronic fund transfer ("EFT") over the ACH network (or another network of our choosing) from the Bank Account (or, if a Bank Account is not specified below, any bank account you subsequently authorize us to debit) for any scheduled payment you owe under this Lease on or after its due date. In the event that this EFT is returned unpaid, or if you have not authorized us to debit a Bank Account, you authorize us to charge your Card (or, if a Card is not specified below, any card you subsequently authorize us to charge) for such payment. You also authorize us to initiate a separate EFT or to charge such Card for any late payment fee that you owe under this Lease. You agree that we may resubmit any returned EFT or Card charge as permitted by law and network rules. We are not responsible for any bank fees you incur in connection with returned payments. Instead of or in addition to any of the EFTs and Card charges described in this section, you also authorize us to process any EFTs or Card charges you subsequently confirm by phone or email. In the event that we make an error in processing an EFT or Card charge, you authorize us to initiate an EFT or Card charge to correct the error. You may change your scheduled payment dates with our permission (which we will typically grant if the new payments coincide with the dates you receive payments and do not materially increase the Lease term), terminate your authorization to initiate EFTs and to charge the Card or update any Bank Account and Card information by calling us at (310) 231-6838, emailing us at [email protected] or writing us at 1925 Century Park East 17th Floor Los Angeles, CA 90067. We will honor your termination or modification request so long as you make this request at least five business days before the scheduled payment or far enough in advance for us to reasonably act on it. If any payment cannot be obtained by EFT or Card charge, you remain responsible for such payment. You authorize us to create and process drafts against the Bank Account if you terminate this authorization.

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NOTICE TO LESSEE: (1) DO NOT SIGN THIS BEFORE YOU READ THE ENTIRE AGREEMENT INCLUDING ANY WRITING ON THE REVERSE SIDE, EVEN IF OTHERWISE ADVISED. (2) DO NOT SIGN THIS IF IT CONTAINS ANY BLANK SPACES. (3) YOU ARE ENTITLEDTO AN EXACT COPY OF ANY AGREEMENT YOU SIGN. (4) YOU HAVE THE RIGHT TO EXERCISE ANY EARLY BUY-OUT OPTION AS PROVIDED IN THIS AGREEMENT. EXERCISE OF THIS OPTION MAY RESULT IN A REDUCTION OF YOUR TOTAL COST TO ACQUIRE OWNERSHIP UNDER THIS AGREEMENT. (5) IF YOU ELECT TO MAKE WEEKLY RATHER THAN MONTHLY PAYMENTS AND EXERCISE YOU PURCHASE OPTION YOU MAY PAY MORE FOR THE LEASED PROPERTY.

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By Signing this Lease Agreement: (1) You agree to all its terms, including the additional lease terms (see the EFT and Card Charge Authorization and Arbitration provision above) and (2) You acknowledge receipt of a completed copy of this lease.

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