In the event of loss, loss without explanation, stolen, unreturned, damaged beyond repair (including any liquid damage of any sort) or default, Lessee agrees to allow Lessor to charge Lessee’s credit card for the full retail price of a comparable substitute of Equipment based on current pricing from www.fowadotechnologygroup.com plus an additional 3% to cover credit card transaction fees. The full retail price of a comparable substitute will be charged in addition to the late fees assessed prior to deeming the Equipment “lost” or “unreturned.” If the overdue charges are denied by the Lessee’s credit card, and the Lessee has not contacted Lessor regarding the overdue rental, the Lessee understands that Lessee's account will be turned over to the appropriate authorities for prosecution.
