Rental Agreement

Agreement Terms:

  1. MCGS hereby grants to You a license to display for sale, subject to all the terms and conditions of this agreement, either crafts or gifts in the store designated on this agreement. The initial term of this agreement is a minimum of 12 full months commencing on ________________, 20____. At the end of the initial term, this agreement will renew for the same additional term unless otherwise terminated as specified in this agreement. 2. The spaces designated on this agreement may be occupied and used by You solely for the display for sale of hand-crafted items, items crafted in the USA or approved gifts as originally reviewed and approved by MCGS. MCGS shall in its sole discretion, have the right of final determination of the acceptability of items displayed for sale as well as determining the space in which they are located. MCGS may immediately remove any items from Your display which are deemed unacceptable. You agree to mark all products for sale with 1) Your ID number listed above, 2) A description or inventory number, and 3) Your price.
  2. Upon execution of this agreement, You agree to pay MCGS a nonrefundable $25 setup fee and first month’s license/rental fee of $_________ along with a security deposit equivalent to the final months rental of $___________. In Addition, You agree to pay the license fees specified on this agreement to MCGS on the 1st day of each month to Madison Craft & Gift Shops at 4118 Monona Drive, Madison, WI 53716. You agree to pay an additional electronic processing fee should you elect to pay via credit card or ACH draft, which may change at anytime without notice. Any change to the licensee fees will be provided to You via written notice 30 days prior to the effective date of change. License fees are delinquent if not received by MCGS by the 1st of each month. You agree to pay a late fee of fifteen dollars ($15) if license fees are delinquent. You agree to display merchandise in your spaces within 7 days of the start of this agreement, and thereafter to keep your space stocked.
  3. You are responsible for fire, theft, and other insurance You deem appropriate to protect Your products while they are in the store. MCGS shall not be liable to You for any damage to persons or property or damage by shipping to or from MCGS. MCGS is not responsible for loss due to shoplifting or price tag alteration. You agree to indemnify and hold MCGS free and harmless from all claims for any such damage or loss. Electricity fee is $5 per each month of use if you will be utilizing the store’s electric in your space and is due monthly along with the above stated rental.
  4. At the end of each semi-monthly period of sales, Your products will be totaled and a check will be mailed to You for Your sales for the semi-monthly period, less credit card fees, service fees and any late fees, unless license fees are delinquent. MCGS will collect and remit all state and local sales taxes.
  5. Space sizes are approximate. You are solely responsible for measurements for displays.
  6. MCGS agrees to be responsible for all customer bank charges, loss from bad checks, and loss from credit card fraud.  Promotional and advertising fees are MCGS responsibility as of this contract date.
  7. MCGS agrees store will be open to the public seven (7) days per week except for the following holidays. New Years Day, Easter, Independence Day, Thanksgiving, Christmas and others to be determined from time to time by MCGS, which include emergency closings.  Labor Day and Memorial Day.
  8. Work time requirements are 3 hours on a week day or 2 hours on a weekend per month. A $25 fee is due should you decide to not work.
  9. Your rights under this agreement are personal to You and may not be assigned or transferred to any other person, or entity. MCGS may sell, assign, pledge, or otherwise transfer its rights under this agreement with 30 days written notice to You. You agree to maintain the value of three times monthly rent in stock in your space at all times.
  10. You acknowledge receipt of a copy of current “Madison Craft & Gift Shops Guidelines” and by signing this agreement agree to abide by them and any others which MCGS may from time to time deliver to You. Such guidelines and any future changes to such guidelines shall automatically become a part of this agreement. MCGS shall have the right to terminate this license immediately, without liability to You for any reason. After the initial term, You may terminate this agreement at the end of any rental year with 30 days prior written notice. Upon termination of this agreement, or at anytime license fees are delinquent, any stock or property whichYou do not claim will be disposed of at MCGS’s sole discretion. You agree to pay license fees regardless of sales volume. If you terminate this agreement or vacate your space or cease to pay license fees, You continue to remain liable for the unpaid term of the license agreement. You agree that delinquent fees may be deducted by MCGS from Your bank account or credit card. Should any action be initiated because of delinquent license fees, You agree to pay all attorney fees, collection costs and court costs incurred by MCGS to collect these delinquent fees. You agree that MCGS may pull your credit record and make entries should any fees due MCGS become delinquent. You hereby grant MCGS a security interest under the Wisconsin Uniform Commercial Code in your merchandise, fixtures and proceeds for the term of this agreement and any extensions thereof. MCGS shall have the rights of a secured party under the Wisconsin Uniform Commercial Code and shall have the right to hold all stock until the full term of the agreement is paid. Should Your license fees become delinquent and MCGS shall have the right to sieze and sell your merchandise and fixtures without court order or other legal formality and apply the proceeds to the debt, plus expenses of siezure, storage and sale.
  11. It is agreed that this agreement shall be governed by, construed and enforced in accordance with the laws of the State of Wisconsin. Venue for any cause of action arising out of this agreement shall lie in Dane County Wisconsin. In the event that any provision of this agreement is held unenforceable or invalid by a court of competent jurisdiction, this agreement shall continue in force without such provision or as changed and interpreted to give effect to the intentions of the parties to the fullest extent possible.
  12. This agreement is the complete agreement between You and MCGS and it replaces any prior oral or written communication between MCGS and You. Any modification of the printed terms of this agreement or additional obligation assumed by either party in connection with this agreement shall be binding only if evidenced in writing signed by MC&GS, Diane or Fred Goetz.

How to Order

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