1. TERM, RATE, AND PAYMENT CALCULATION

Rate and Late Charges: Any late payments or sums not paid within ten (10) days of the due date shall bear interest at a rate of 20% per annum, calculated daily and compounded monthly until paid in full. A standard handling fee of $25.00 shall be applied to any payment returned for Non-Sufficient Funds (NSF) or any other failed transaction reason.

2. PURCHASE OPTION AND UNLIMITED MILEAGE

Lease-End Purchase Option: Provided the Lessee is not in default under any terms of this Lease, the Lessee has the option to purchase the vehicle at the end of the [agreed upon terms/years] for a final purchase option price of $312.50 plus 12% applicable taxes ($37.50), for an all-inclusive buyout cost of exactly $350.00.

Security Deposit Application Clause: To facilitate a seamless, cash-free title transfer at the end of the term, the Lessee’s original security deposit of $350.00 shall be applied in full to satisfy the final buyout price of $350.00 (inclusive of tax) at the end of the[agreed upon terms/years], provided the Lessee is not in default. Upon application of the deposit, the vehicle’s title and ownership will be transferred to the Lessee with no additional buyout payment required.

Unlimited Mileage Usage: The Lessee shall have unlimited mileage usage of the vehicle throughout the entire [agreed upon terms/years] term. No excess mileage fees, overage charges, or distance penalties shall apply under any circumstances, and the vehicle is fully authorized for commercial transportation and ridesharing services (specifically including Uber). Geographic restrictions (BC Use Only) still apply as detailed herein.

3. VEHICLE ACCESS AND SECURITY PROTOCOLS

Tesla App Access & Vehicle Registration: The vehicle shall not be registered in the Lessee’s name in Tesla records and will remain registered under Rent4Long. Access to the vehicle will be provided exclusively via the Tesla App. Throughout the active lease term, the Lessee will have “Guest User” access privileges. Physical keys and full “Owner Access” in the Tesla App will remain with the Lessor and shall be surrendered only after the 5-year term is completed, all financial obligations are fully satisfied, and the title transfer is officially finalized.

Mandatory Vehicle Inspections & Remote Audits: The Lessor reserves the right to request a physical vehicle inspection or a live remote photo/video audit at any time with 24 hours’ notice. Upon notice, the Lessee must participate on a live phone video conference, reply within 24 hours, and dedicate up to 30 minutes to complete the safety check, provide a live visual viewing of any and all parts of the vehicle, and send real-time photos as requested. Failure to fully cooperate constitutes a material breach of this Agreement and grants the Lessor the right to charge a $200.00 Administrative Non-Compliance Fee, immediately revoke Tesla App access, and/or temporarily disable or repossess the vehicle at the Lessee’s sole expense.

Payment Default & Lockout: The Lessee acknowledges that in the event of any overdue payment, vehicle access via the Tesla App will be revoked immediately, and the vehicle may be remotely disabled or repossessed by the Lessor. Physical retrieval of the vehicle and restoring app access will be at the Lessee’s sole expense.

Tesla Supercharging Charges: The Lessor (Rent4Long) shall charge the Lessee weekly for the actual Supercharging costs incurred on Tesla’s network. These Supercharging charges will be billed directly to the Lessee’s payment account on a weekly basis, matching the exact amount used by the Lessee.

4. MAINTENANCE, INSURANCE, AND PROHIBITED USES

Vehicle Maintenance Allocation: The Lessor (Rent4Long) shall be responsible for and handle major mechanical maintenance and repairs, specifically including the suspension, brakes, battery, and engine, provided such repairs are not due to Lessee negligence or abuse. The Lessee shall be responsible for routine minor maintenance and consumables, specifically including windshield washer fluids, wiper blades, and glass repairs or replacements (including windshield and window glass, covered under the Lessee’s ICBC policy). The Lessee must notify the Lessor immediately of any required major repairs and must cooperate in bringing the vehicle for service in a timely manner.

Mandatory Vehicle Insurance: The Lessee must maintain active automobile insurance for the vehicle throughout the entire lease term. The insurance policy must carry a minimum of $1,000,000.00 in Third-Party Liability, and must name the Lessor (1170762 B.C. LTD.) as an additional insured and loss payee. The Lessee also agrees to maintain collision and comprehensive coverage with a deductible of exactly $300.00 for both collision and comprehensive. Proof of active insurance must be on file with the Lessor at all times.

Strict Prohibitions (Smoking, Vaping, Pets): Smoking, vaping, or using any tobacco or cannabis products in the vehicle is strictly prohibited. Keeping pets or animals inside the vehicle is also strictly prohibited without prior written authorization. If the vehicle is returned with evidence of pets, pet hair, animal odor, smoking, vaping, or excessive dirt, the Lessee will be charged a minimum $150.00 cleaning and detailing fee, or the actual cost of professional restoration, whichever is greater, plus applicable administration fees.

5. GEOGRAPHIC LIMITS AND EARLY TERMINATION

Geographic Limits (BC Use Only): The vehicle is restricted and not permitted to leave the Province of British Columbia at any time during the lease period. Any use of the vehicle outside British Columbia constitutes a material breach of this Agreement and will result in an immediate $500.00 fine plus a $1.00 per kilometer penalty for all distance traveled outside BC. It will also result in the immediate termination of this Agreement, instant revocation of Tesla App access, and immediate repossession of the vehicle at the Lessee’s sole expense.

Early Termination & Standby Rates: In the event the Lessee elects to terminate this contract prior to the [agreed upon terms/years], promotional long-term discounts are revoked, completed weeks are retroactively recalculated, and a weekly standby holding charge will apply to all remaining unused weeks based on the standard Rent4Long Early Termination Standby Rate Matrix to compensate the Lessor for lost booking capacity and depreciation.

6. DEFAULT, LOSS, AND TERMINATION

Events of Default: The Lessee shall be in default if: (a) they fail to make any payment when due; (b) any bankruptcy or insolvency proceeding is filed; (c) any government authority or law enforcement agency seizes the vehicle; (d) the Lessee provides false or misleading information; or (e) the Lessee fails to keep any other agreement in this Lease.

Loss or Destruction of Property: Regardless of fault, the Lessee is responsible for all damage to, loss of, or theft of the vehicle during the lease period. In the event of a total loss or destruction, the insurance policy (ICBC) will cover a portion of the value, but the Lessee shall remain fully responsible for and must cover any remaining difference or outstanding balance owed on the vehicle. To avoid a total loss designation, every reasonable effort will be made to repair and restore the vehicle to its proper operating condition, with all such repair costs also covered and paid by the Lessee. The Lessee is allowed to insure the vehicle for this purpose.