1. This instrument may be returned at anytime and this agreement will be terminated. The minimum lease period is one month. No lease fees will be prorated or refunded. All instruments must be returned before the next due date to Edmond Music, Gilliam Music or Larsen Music and documented by a written receipt.

2. All monthly lease payments will apply toward the purchase of the instrument. All Total Monthly Payments received (excluding sales tax and Repair & Replacement Plan payments ) shall be considered lease payments for the instrument until the price of the instrument is paid.

3. At any time you may purchase the instrument. The purchase price of the instrument will be computed as follows: the balance (the instrument price less all Monthly Lease Payments paid) less 20%. The instrument can be purchased today for a 25% Discount plus sales tax.

4. This instrument may be exchanged for a different lease instrument within 120 days of the date of this agreement. If the instrument is returned and all Monthly Lease Payments are current, 50% of the first year’s Monthly Lease Payments paid may be applied to the purchase price of any one musical instrument valued over $500 offered for sale at Edmond Music, Gilliam Music or Larsen Music. Purchase must be made at the time the lease instrument is returned. Fractional string instruments are exchanged, like condition for like condition, at no charge while leasing.

5. Edmond Music Inc. owns this instrument until full payment is made. Should I default on any monthly payment Edmond Music Inc. may reclaim the instrument wherever found, at school or elsewhere, with or without the knowledge of the Lessee. A late fee of $5.00 will be charged on each payment received more than 10 days past the due date. Payments (including credit or debit card, debit, check) declined or returned insufficient will be charged a $15.00 processing fee for each occurrence. Edmond Music Inc. reserves the right to obtain a credit report before leasing or during the term of this agreement.

REPAIR & REPLACEMENT PLAN

This plan can only be initiated at the origination of the Lease To Own Agreement and expires when the agreement is terminated. It includes fire, theft or accidental damage which effects the playability of the instrument. It does not include cosmetic damage or replacement of expendable items. It does not cover willful damages or damages due to negligence. Edmond Music Inc. reserves the right to repair or replace the instrument with another of similar type, age and condition. If the instrument is stolen or destroyed by fire you must provide Edmond Music Inc. a copy of the police or fire report within 14 days.