If the leased property is not returned within 24 hours of the stated contract end date, the property will be considered stolen and the theft will be reported to all appropriate law enforcement agencies immediately. In the event of a theft of property, HYPEBYKE, LLC, Lessor, will prosecute to the fullest extent allowed by law. In the event Lessee does not return the leased property in a timely manner, a late fee of $20.00 per day will be incurred for a period not to exceed 3 days at which time the late fee, incurred, for the lost rental value, as well as the full replacement cost of the bike(s).

As a security for Lessee’s obligations hereunder, Lessee deposits with Lessor the sum of $80 as a security deposit in the event of default hereunder. Lessor has the right to apply the security deposit toward the cure of such default and such application shall not be a defense to any action by Lessor arising from such default upon termination of the Lease, provided Lessee has paid all rents and late charges due and performed Lessee’s other obligations, Lessor shall return to Lessee the (remaining balance of the ) security deposit. In the event Lessee’s security deposit is insufficient to cover either the damage to or theft of the leased property, Lessee shall be responsible for immediate payment of the remaining balance due by person check or credit card.

Lessee shall use the property in a careful and proper manner and shall comply will all laws and regulations regarding its use. This will include the knowledge of an strict adherence to, the rules of off-road riding as formulated by the International Mountain Biking Association (IMBA), which provides in pertinent part:

• Obey all traffic rules and regulations applicable to bikes under the applicable governmental traffic codes and Texas motor vehicle code.
• Yield trail/sidewalk to hikers, walkers, runners; slow when passing
• Don’t skid. It’s neither safe nor an efficient way to ride and it degrades the tires
• Obey all speed limits and reduce speed in blind turns
• Avoid extremely sandy and muddy areas, do not ride on the beach
• Wear a helmet
• Be prepared; know your abilities and your planned route
• Know which trails and areas are open to cyclists and never trespass or ride in closed areas

Helmet use is MANDATORY with rental bikes

Lessee assumes and shall bear all risk of loss and damage to the leased property from any and every cause whatsoever during the term of this lease, excluding normal wear and tear. No loss or damage shall diminish Lessee’s obligations under this lease. In the event of loss or damage to leased property, Lessor may, at Lessor’s option: (a) apply the security deposit toward the loss or damage, (b) require Lessee to repair such damage or replace the property at Lessee’s expense, and/or (c) require Lessee to pay Lessor the stipulated loss value of the property, such value hereby agreed to is:

Bicycle 1: $850  Accessory: $30 helmet, $20 lock

Indemnity, Hold Harmless and Warranty Disclaimer

Lessee shall indemnify and hold Lessor harmless against any and all claims, actions, suits, proceedings, expenses, damages, and liabilities (including attorney fees and court costs) arising from or connected with Lessee’s obligations hereunder or Lessee’s use, possession, operation and return of leased property. Lessor makes no warranties, express or implied, as to the condition of the leased property, its merchantability or its fitness for any particular purpose.

The leased property is and shall at all times be and remain the sole and exclusive property of the Lessor. Lessee shall have no right, title or interest therein, except as expressly provided in this lease. Lessee may not assign this lease. The obligation(s) herein are performable in Nueces County, Texas, and this agreement shall be construed under Texas law. If any provision hereof shall be deemed invalid, illegal or unenforceable, this agreement shall be construed as if such provision had never been contained herein.

For and in consideration of the lease of property to Lessee, Lessee does hereby release, acquit, and forever discharge HYPEBYKE, LLC from any and all claims or causes of action of any kind whatsoever, at common law, statutory or otherwise, contract or tort, including negligence claims, which the undersigned has or might have, known or unknown, now existing or that might arise hereafter, directly or indirectly attributable to the above described leased or Lessee’s use, possession, operation and return of the leased property, it being intended to release all claims of any kind which the undersigned might have or might hereafter acquire against those hereby released.