Agreement: As Borrower, denhac will not dispose of, sell, hack, or repurpose loaned equipment without explicit permission from Lender. If needed, denhac may ask Lender to remove the equipment from the space and will give at least 30 days notice of such action.
Timeline: The equipment in this agreement is defined as being on loan indefinitely until either 1) Lender no longer maintains an active denhac membership, or 2) Lender decides to remove the equipment from the space. In such an event, at least 30 days notice is required from Lender before removing the equipment.
Donation: At any time, Lender can choose to donate the equipment on loan to the space. If Lender allows their denhac membership to lapse for a period of at least six (6) consecutive months, any equipment on loan from Lender will be considered abandoned and therefore a donation. We will give at least 30 days notice during this time period before considering the equipment abandoned.
Maintenance: Lender understands that denhac cannot guarantee maintenance will be performed on the equipment. The more use a piece of equipment sees, the more it will likely be serviced, but Lender understands that any necessary maintenance is their responsibility and not that of denhac.
Damage: Lender understands that denhac cannot guarantee equipment will not be damaged. Though our policy is for members to replace any broken or damaged equipment, this may not always be possible and denhac has no legal obligation to repair or replace equipment on loan. Invaluable and/or irreplaceable personal equipment is better left at home and brought in only when needed.
Labeling: Equipment that is intended as a loan but is left at denhac 1) without being labeled and 2) without a signed Loan Agreement will be considered a donation. Any equipment on loan to denhac must be very clearly labeled as such.
Indemnity: denhac shall indemnify Lender against, and hold harmless from, any claims, actions, suits, proceedings, costs, expenses, damages and liabilities, arising out of, connected with, or resulting from denhac’s use of Equipment. Lender agrees to hold denhac harmless from any costs, expenses, or damages to the Equipment resulting from denhac’s use of Equipment.
Ownership: The Equipment is, and shall at all times be and remain, the sole and exclusive property of Lender; and denhac shall have no right, title or interest therein or thereto except as expressly set forth in this Loan.