WILLIAM DONALD SCHAEFER, Governor

Ch. 620

AGREEMENT WILL BE TRANSFERRED TO YOU IF, AND AT THE TIME,
YOU ACQUIRE OWNERSHIP OF THE RENTAL PROPERTY.

11.  DAMAGES:

YOU (LESSEE) ARE ENTIRELY RESPONSIBLE FOR LOSS, DAMAGES,
THEFT OR DESTRUCTION OF THE RENTAL PROPERTY WHILE IT IS IN
YOUR POSSESSION. YOUR LIABILITY FOR SUCH DAMAGE WILL NOT
EXCEED THE EARLY PURCHASE OPTION PRICE OF THE RENTAL
PROPERTY AS OF THE DATE IT IS LOST, STOLEN, DAMAGED OR
DESTROYED.

12.  TERMINATION:

YOU (LESSEE) MAY TERMINATE THIS AGREEMENT WITHOUT PENALTY AT
THE END OF ANY WEEKLY OR MONTHLY TERM BY RETURNING THE
RENTAL PROPERTY TO US IN GOOD CONDITION. YOU WILL BE LIABLE
FOR ANY UNPAID RENTAL PAYMENTS DUE UPON THE DATE OF RETURN.

13.  REINSTATEMENT:

IF YOU (LESSEE) FAIL TO MAKE A TIMELY PAYMENT, YOU MAY
REINSTATE THE AGREEMENT WITHOUT PENALTY, IF:

1)  YOU PAY ALL PAST DUE RENTAL CHARGES AND A
REINSTATEMENT FEE WITHIN 2 DAYS (WEEKLY RENTERS) OR 5
DAYS (MONTHLY RENTERS) OF YOUR RENEWAL DATE; OR

2)  YOU RETURN OR VOLUNTARILY SURRENDER THE RENTAL
PROPERTY WITHIN 2 DAYS (WEEKLY RENTERS) OR 5 DAYS
(MONTHLY RENTERS) OF YOUR RENEWAL DATE. IF YOU CHOOSE
TO REINSTATE THE AGREEMENT AFTER RETURNING THE RENTAL
PROPERTY, YOU WILL HAVE UP TO 21 DAYS (OR LONGER
DEPENDING ON HOW LONG YOU HAVE RENTED THE RENTAL
PROPERTY) TO PAY ALL PAST DUE RENTAL CHARGES, A
REINSTATEMENT FEE AND A REASONABLE REDELIVERY FEE IF
WE DELIVER THE RENTAL PROPERTY.

I HAVE READ THE ABOVE DISCLOSURES BEFORE SIGNING THIS
RENTAL-PURCHASE AGREEMENT.

LESSEE(S): ____________________________ DATE: ____________

12-1112.

THIS SUBTITLE MAY BE CITED AS THE MARYLAND RENTAL-PURCHASE
AGREEMENT ACT.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect September 1, 1989.

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