Rent-to-Own Agreement

This Rent-to-Own Agreement (this "Agreement") is made as of the date of Lessee's acceptance (the "Effective Date") between MERIDIAN DIGITAL LLC, a Colorado limited liability company doing business as Laundry Now, [mailing address to be confirmed], Colorado ("Lessor"), and the individual named in the Acceptance Record and on Exhibit B ("Lessee"). Lessor rents to Lessee the washer and dryer described below (the "Equipment") on the following terms.

1. 1. Agreement; ownership

   This is a rental purchase agreement under C.R.S. 5-10-301. It is not a loan, credit sale, consumer lease or lay-away, and no interest or finance charge is imposed. Lessee rents the Equipment one month at a time and may acquire ownership only by making the number of Monthly Payments stated in item 3 or by paying the Early Purchase Price under Section 5. THE EQUIPMENT IS AND REMAINS THE PROPERTY OF LESSOR, AND NO PART OF IT BECOMES LESSEE'S, UNTIL THAT HAPPENS. Monthly Payments are not instalments of a purchase price and create no equity. This Agreement consists of this document, the Acceptance Record and the Confirmation; where the Confirmation states a figure, date or serial number more specifically, the Confirmation governs.

2. 2. Rental period; renewal; no obligation to continue

   The first rental period begins on the Installation Date and runs for one month. Each Monthly Payment made on or before its Payment Date renews this Agreement for one further month; it renews in no other way. Lessee is never obliged to make the next Monthly Payment and may end this Agreement at any time, without charge and without giving a reason, by returning the Equipment under Section 11.

3. 3. Delivery and acceptance

   Lessor takes no payment, security deposit or payment details at booking. Lessor delivers, connects and tests the Equipment at the address on the Confirmation (the "Premises") at no charge; the plan is offered to addresses within 20 driving miles of Lessor's base. Lessor runs both machines in Lessee's presence, and Lessee accepts them by signing the Confirmation, on which the Installation Date, the serial numbers and the first Payment Date are entered. If Lessee is not satisfied on delivery, for any reason, Lessee may decline the Equipment and owes nothing.

4. 4. Payments

   The first Monthly Payment is due on the Installation Date, immediately after Lessee signs the Confirmation, through a secure link sent to Lessee's phone; each later Monthly Payment is due on its Payment Date. By making the first Monthly Payment, Lessee authorizes Lessor to charge the card or bank account Lessee saves for each Monthly Payment, any late charge under this section, any amount owed under Sections 9 or 10, and any tax on those amounts, and to resubmit a declined charge; Lessee may change the payment method by notice under Section 13. Lessor emails a receipt for every payment and gives a written receipt for any cash payment. Taxes: the Monthly Payment includes all sales and use tax Lessor is required to collect. Late charge: none. A Monthly Payment unpaid more than 30 days after its Payment Date is an Event of Default under Section 10. There is no security deposit and no application, processing, delivery, repair, return or termination charge of any kind.

5. 5. Early purchase option

   At any time after the first Monthly Payment, Lessee may acquire ownership by paying the "Early Purchase Price": the greater of (a) 60% of the Monthly Payments not yet made and (b) the Cash Price less the Monthly Payments already made, plus applicable sales tax. Example, on 12 payments of $89: after 6 payments ($534), (a) is $320 and (b) is $216, so the Early Purchase Price is $320 and Lessee owns the Equipment for $854 in total instead of $1,068. The Early Purchase Price is always less than the Monthly Payments remaining; the total paid to acquire ownership is never less than the Cash Price; and no payment beyond the Monthly Payments is ever required to acquire ownership. Lessor confirms the exact figure in writing on request.

6. 6. Transfer of ownership

   Ownership passes to Lessee, free of any claim by Lessor, when the final Monthly Payment or the Early Purchase Price is received in cleared funds; nothing further is payable and nothing is returned. Lessor emails written confirmation of ownership within 7 days. Lessor's obligations under Section 7 end when ownership passes.

7. 7. Maintenance

   While Lessee is making Monthly Payments, Lessor will, at no charge, repair any failure arising from normal use, ordinary wear and tear or a defect, or replace the unit with one of equivalent quality and condition, as quickly as reasonably possible after Lessee reports it. On replacement this Agreement continues unchanged and every payment made counts toward the replacement unit. Lessee will give reasonable access at an agreed time; Lessor never enters the Premises without Lessee's permission. Lessee will not repair, or permit anyone other than Lessor to repair or alter, the Equipment.

8. 8. Use and location

   Lessee will use the Equipment only for ordinary household laundry at the Premises, follow Lessor's care instructions and the manufacturer's instructions, not overload the machines, keep the dryer lint filter clean, and promptly report any leak, noise or fault. Lessee will not move the Equipment from the Premises or from its installed position without Lessor's agreement (Lessor relocates it within its service area by arrangement); will not sell, lend, sublease, pledge or otherwise transfer or encumber it; and will not remove or cover Lessor's ownership label on each machine.

9. 9. Loss and damage

   Until the Equipment is returned or ownership passes, Lessee is responsible for (a) damage caused by misuse, neglect, overloading, pets, or moving the Equipment other than by Lessor; (b) water damage from hoses or connections disconnected or moved after Lessor's installation leak test; (c) damage resulting from unauthorized repair; and (d) loss, theft, destruction, or damage beyond economic repair while in Lessee's possession. Lessee pays the reasonable cost of repair or, for a unit lost, stolen, destroyed or beyond repair, its "Fair Market Value": the price at which used machines of the same make, model, age and condition are offered for sale to the public in the Denver area on the date of loss, and never more than the Cash Price for any unit. Lessor supplies the comparable offers, photographs and an itemized statement before charging anything. Ordinary wear and tear and any failure covered by Section 7 are never Lessee's responsibility. Payment under this section does not transfer ownership; at Lessee's election this Agreement continues on a replacement unit. Lessor offers no damage waiver, protection plan or insurance; Lessee should check whether renters or homeowners insurance covers rented appliances.

10. 10. Default; remedies; reinstatement

    Each of the following is an "Event of Default": (a) a Monthly Payment unpaid more than 30 days after its Payment Date; (b) moving, selling, transferring or intentionally damaging the Equipment; or (c) any other breach not cured within 10 days after written notice. On an Event of Default Lessor may terminate this Agreement by written notice and require the return of the Equipment. Lessor's remedies are limited to the Monthly Payments due through the date of return, any amount due under Section 9, and recovery of the Equipment; Lessor claims no Monthly Payment for any period after return. Lessor will not enter the Premises without Lessee's permission and will not repossess the Equipment by any means involving a breach of the peace; if the Equipment is not returned on request, Lessor will proceed through the courts.

    Reinstatement: if Lessee misses a Monthly Payment and promptly returns the Equipment, Lessee may reinstate this Agreement, keeping full credit for all payments made, within 60 days after the return (120 days if Lessee had paid more than 60% of the Total of Payments) by paying the missed payments, any late charges, a reinstatement fee of at most $5 and, if redelivery is needed, a delivery charge of at most $15; Lessor then delivers the same Equipment or a substitute of equivalent quality and condition and this Agreement continues as though uninterrupted. Lessor will not attach or garnish Lessee's earnings before judgment, and nothing in this Agreement requires Lessee to assign earnings, confess judgment, waive service of process or any defense or counterclaim, or authorize entry to the Premises or any breach of the peace.

11. 11. Return of equipment

    Lessee may end this Agreement at any time by arranging a collection date and a three-hour window with Lessor, being present, and allowing Lessor to remove both machines; no charge applies. Because the Monthly Payment is the charge for Lessee's possession of the Equipment, Monthly Payments continue to fall due until the Equipment is back in Lessor's possession, not merely until notice is given, and the final period is not prorated. If Lessor cannot collect on the arranged date, Lessor will arrange another. Equipment not returned on termination is treated as lost under Section 9; Lessee is also responsible for Lessor's reasonable costs of recovery; and Lessor may recover the Equipment itself through the courts.

12. 12. Warranty; limitation of liability

    Lessor warrants that, while Lessee is making Monthly Payments, Lessor will repair or replace Equipment that fails in normal use as provided in Section 7, which is Lessee's sole and exclusive remedy for any failure of the Equipment. EXCEPT AS STATED IN THE PRECEDING SENTENCE, THE EQUIPMENT IS USED AND IS PROVIDED "AS IS," AND LESSOR MAKES NO OTHER WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING ANY IMPLIED WARRANTY OF MERCHANTABILITY OR OF FITNESS FOR A PARTICULAR PURPOSE. Lessor is responsible for loss or damage caused by the negligence of Lessor or its personnel, including damage to the Premises from a connection Lessor made. Except for that, for injury to a person, and where the law does not permit the limitation, Lessor is not liable for indirect, incidental or consequential loss, and Lessor's total liability under this Agreement is limited to the Monthly Payments received in the 12 months before the claim arose. Nothing in this Agreement limits any right Lessee has under C.R.S. Title 5, Article 10, or under any other law that cannot be waived.

13. 13. Electronic records; notices; text messages

    Lessee consents to receive this Agreement, the Confirmation, receipts and all notices by email at the address in the Acceptance Record. Lessee needs an internet-connected device, an email account and software that opens PDF files. Lessee may request a free paper copy of any record, or withdraw this consent, at any time by notice to Lessor; Lessor then sends paper copies and this Agreement otherwise continues unchanged. Notices to Lessor: finn.r.rourke@gmail.com or the mailing address above. Notices to Lessee: the email or postal address in the Acceptance Record. If Lessee has opted in, Lessor may send text messages about deliveries and service visits; reply STOP to stop them.

14. 14. General provisions

    This Agreement, the Acceptance Record and the Confirmation are the entire agreement between the parties concerning the Equipment and supersede all prior discussions and representations. As to Lessee, the Monthly Payment, the number of Monthly Payments, the Cash Price and the Early Purchase Price formula are fixed for the life of this Agreement and may be changed only by a written amendment signed by both parties. No failure or delay in enforcing any term is a waiver of it. If any provision is held unenforceable, the remaining provisions continue in full force. Lessee may not assign this Agreement or any interest in the Equipment; Lessor may assign it on written notice, and any assignee takes subject to Lessee's rights under this Agreement and under C.R.S. Title 5, Article 10. This Agreement is governed by Colorado law, and any dispute arising out of it will be brought in the state courts sitting in Denver County, Colorado, including small claims court; this Agreement does not require arbitration. Consistent with C.R.S. 5-10-103, nothing in this Agreement is an agreement by Lessee to forgo any right under the Colorado Rental Purchase Agreement Act. Lessee accepts this Agreement electronically by ticking the box below, presented on Lessor's website beside a link to the full text of this Agreement; Lessor records the sentence ticked, the version of this Agreement, the date and time, and the network address used (the "Acceptance Record") and emails this Agreement to Lessee at once. Electronic acceptance, and electronic signature of the Confirmation, have the same effect as a handwritten signature, and this Agreement may be executed in counterparts. Sections 9 through 12 survive termination until all amounts due are paid and the Equipment is returned or ownership passes. Contact: Meridian Digital LLC, d/b/a Laundry Now · [mailing address to be confirmed] · finn.r.rourke@gmail.com · (216) 372-1604.