This Studio Rental Agreement (the “Agreement”) is made and entered into by and between you (the “Client”) and Vault Creative, LLC (the “Company”) (each a “Party” or collectively the “Parties”) for the rental of the studio at 5149 Frolich Ln., Hyattsville, MD 20781 (the “Studio’) on the agreed upon dates and times. In consideration of the mutual promises and covenants contained herein, intending to be legally bound, the Parties hereby agree as follows:
1. Effective Date. This Agreement shall take effect on the date the Company provides confirmation to the Client approving the booking. The Booking Confirmation shall consist of the confirmation email following the payment of the reserved booking.
2. Payment. Client agrees to pay for studio time, services, and equipment rental at the rates set forth on the Booking Confirmation, as well as for additional overtime, damage, or cleanup fees required pursuant to this Agreement. Full payment (100%) is due immediately in order to confirm the Client’s booking. The reservation will be held for 15 minutes, but will only be confirmed upon receipt of payment. Any additional overtime, damage, or cleanup fees shall be paid within five (5) days following the end of Client’s use of the Studio. If Client pays by credit card, an additional one point five percent (1.5%) charge will be added to cover credit card fees.
3. Cancellation. Payment will be refunded in full if Client provides written notice of cancellation to Company at least forty-eight (48) hours prior to the beginning of Client’s reserved Studio time, or in the event of cancellation by Company for reasons other than Client’s violation of the terms of this Agreement. Return of the payment is the Client’s sole remedy for any such cancellation by Company. 50% of the payment will be refunded if Client provides written notice of cancellation to Company at least twenty-four (24) hours prior to the beginning of the Client's reserved Studio time. No amount of the payment is refundable if Client cancels without providing the required twenty-four (24) hours or if Company cancels due to Client’s violation of the terms of this Agreement.
4. Studio Use. Client agrees to leave the Studio and all property and equipment rented from Company free of damage and in the same condition as it was prior to the Client’s reserved Studio time, including but not limited to broom cleaning of the space and removal of all trash, personal items, props, equipment and other items brought to the Studio by Client. If Client fails to leave the Studio and all rented property and equipment in such original condition, Client shall be required to pay the greater of two-hundred and fifty dollars ($250) or the actual cleaning, repair, replacement and/or removal costs incurred by Company.
5. File Delivery & Storage. Clients are responsible for downloading, backing up, and securely storing all files upon delivery. As a courtesy, the Studio may retain project files for up to 30 days after delivery; however, file retention is not guaranteed and files may be deleted at any time without notice.
The Studio is not liable for the loss, deletion, corruption, or recovery of any files after they have been delivered to the client. Clients are strongly encouraged to maintain their own backups immediately upon receipt.
6. Insurance. Prior to the beginning of Client’s reserved studio time, Client shall procure insurance with coverage for bodily injury and property damage in an amount not less than one million dollars ($1,000,000) or be held personally liable.
7. Additional Charges. Client authorizes Company to securely store the payment card provided at the time of booking or rental. Client further authorizes the Company to charge this card for any additional amounts that may become due under this Agreement, including but not limited to: overtime charges, cleaning fees, repair costs, or damages to the rented property or equipment. Company will notify Client of any such charges and provide an itemized statement upon request.
8. Indemnification. Client shall defend, indemnify and hold harmless Company, its related entities, partners, agents, officers, directors, employees, successors, and assigns (including but not limited to Vault Creative, LLC), from and against any and all claims, losses, damages, judgments, settlements, costs and expenses (including reasonable attorneys' fees and expenses), and liabilities of every kind arising out of, based upon, or attributable to the use of the Studio or any property or equipment contained therein by Client or Client’s employees, agents, or invitees (unless caused by the gross negligence or willful misconduct of Company). The provisions of this Section shall survive any termination or expiration of this Agreement.
9. Liability. CLIENT AGREES THAT ITS USE OF THE STUDIO AND ANY PROPERTY OR EQUIPMENT CONTAINED THEREIN IS AT CLIENT’S OWN RISK. ACCORDINGLY, CLIENT HEREBY RELEASES AND FOREVER DISCHARGES COMPANY, AND ITS RELATED ENTITIES, PARTNERS, AGENTS, OFFICERS, DIRECTORS, EMPLOYEES, AND SUCCESSORS (INCLUDING BUT NOT LIMITED TO VAULT CREATIVE, LLC) FROM ANY CLAIM FOR LOSS OR DAMAGE TO PERSON OR PROPERTY THAT MAY OCCUR IN THE COURSE OF CLIENT’S USE OF THE STUDIO OR ANY PROPERTY OR EQUIPMENT CONTAINED THEREIN. THE PROVISIONS OF THIS SECTION SHALL SURVIVE ANY TERMINATION OR EXPIRATION OF THIS AGREEMENT.
10. Representations and Warranties. Client covenants, warrants and represents that (i) it has the authority to enter into this Agreement and has taken all necessary corporate action to authorize the signing, delivery, and performance of this Agreement; (ii) Client’s designated Point of Contact is authorized to sign this Agreement on behalf of Client; (iii) it will use reasonable care when using the Studio or any property or equipment contained therein; and (iv) it shall comply with all federal, state and municipal laws, rules, ordinances and regulations applicable to Client’s work and other activities taking place inside the Studio (including but not limited to tax, labor, employment laws applicable to Client and Client’s contractors and employees who work in the Studio).
11. Waiver. Either Party's waiver of, or failure to exercise, any right provided for in this Agreement shall not be deemed a waiver of any further or future right under this Agreement.
12. Assignment. The Parties may not assign this Agreement or any right or obligation contained herein, by operation of law or otherwise, without the prior written consent of the other Party.
13. Severability and Construction. All provisions of this Agreement are severable. If any provision or portion hereof is determined to be unenforceable in arbitration or by a court of competent jurisdiction, then the remaining portion of the Agreement shall remain in full effect. The provisions of this Section shall survive any termination or expiration of this Agreement.
14. Governing Law. This Agreement will be governed by and construed in accordance with
the laws of the State of Maryland, without regard to its conflicts of laws principles. Any suit or action between the Parties arising out of or relating to this Agreement will be filed in a court of competent jurisdiction within the State of Maryland, and the Parties hereby consent to personal jurisdiction and service of process in the State of Maryland. The provisions of this Section shall survive any termination or expiration of this Agreement.
15. Entire Agreement. This Agreement : (i) constitutes the entire agreement between the Parties hereto with respect to the subject matter hereof; (ii) supersedes and replaces all prior agreements, oral and written, between the Parties relating to the subject matter hereof; and (iii) may be amended only by a written instrument clearly setting forth the amendment(s) and executed by both Parties.
16. Binding Agreement. THE PARTIES AGREE THAT THIS AGREEMENT IS BINDING ON BOTH PARTIES UPON THE CLIENT’S RECEIPT AND PAYMENT (DEPOSIT OR PAYMENT IN FULL) OF THE INVOICE.