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TERMS AND CONDITIONS OF HIRE

PRICE AND SPEED CONTAINERS PTY LTD. TERMS AND CONDITIONS OF HIRE

1. Definitions In these Terms and Conditions: Owner shall mean Price & Speed Containers Pty Ltd. Hirer shall mean the person or company who is identified on the face thereof. Equipment shall mean and include any container and any ancillary goods, article, machinery or vehicles together with all accessories and additions there to supplied by the Owner to the Hirer pursuant to these Terms and Conditions. Period of Hire shall mean the period specified on the face hereof and in the event of the expiration of that period shall extend until the time of collection of the Equipment by the Owner from the Hirer upon redelivery of the Equipment by the Hirer to the Owner.

2. Hire of Equipment

(a) THE HIRER ACKNOWLEDGES THAT THE EQUIPMENT IS HIRED SUBJECT ONLY TO THESE TERMS AND CONDITIONS AND THAT THE HIRERS ACCEPTANCE OF THE EQUIPMENT UPON DELIVERY CONSTITUTES THE HIRERS ACCEPTANCE OF SUCH TERMS AND CONDITIONS.

(b) By taking delivery of the Equipment the Hirer accepts that the Equipment is in good and serviceable condition and fit for its intended purpose. The Hirer acknowledges that he does not in any way rely upon the skill or judgement of or any representations made by or on behalf of the Owner in respect of the Equipment, its purpose, use or performance. All conditions, warranties and representations whether written or oral and whether express or implied, except those contained herein and those included or implied by law or regulation which cannot be excluded by agreement between the Owner and the Hirer, are expressly negatived and excluded.

(c) Upon termination of the specified period of hire the Equipment shall be collected by or redelivered to the Owner in the same condition in which it was delivered to the Hirer, ordinary wear and tear excepted. The Hirer at his own expense shall effect redelivery of the Equipment to the Owner where the Owner so requires.

(d) The Owner shall not be responsible for any loss, damage, cost or expense suffered or incurred by the Hirer by reason of late delivery of the Equipment by the Owner.

(e) Notwithstanding the specified period of hire and notwithstanding any waiver by the Owner in respect of any previous default by the Hirer the Owner may immediately terminate the specified period of hire and repossess the Equipment where:

(i) the Hirer commits a breach of these Terms and Conditions:

(ii) the Hirer acts or permits any act or thing whereby the Owner’s rights in the Equipment may be prejudiced in any way whatsoever;

(iii) the Equipment is destroyed or so damaged as to render it unfit for use by the Hirer;

(iv) the Hirer fails to pay charges due under this agreement within seven (7) days of the due date;

(v) the Hirer becomes or is made insolvent or bankrupt or makes any arrangement or composition with his creditors formally or informally, and where the Hirer is a company, the Hirer is the subject of an order for winding-up or;

(vi) where there has been a resolution passed for the winding-up of the Hirer.

(f) (i) for the purpose of repossession of the Equipment the Hirer agrees that the Owner may enter at any time upon premises where the Owner has any reason to believe that the Equipment may be and without prejudice to his rights under this agreement recover the equipment;

(ii) the Hirer indemnifies the Owner in respect of any claim, allegation, damage, cost or expense arising out of any action taken by the Owner under this sub-clause.

(g) Upon repossession of the Equipment by the Owner the specified period of hire shall be deemed to be terminated without prejudice to the rights of the Owner under this agreement. The Hirer shall pay to the Owner hiring charges and transport charges at the same rates as agreed for the Period of Hire up to the repossession of the Equipment.

(h) In this event the Equipment is not handed over by the Hirer within four (4) days of the termination of the period of Hire the Owner shall without prejudice to its rights hereunder be at liberty forthwith to take or cause action to be taken or cause civil and/or criminal proceedings to be commenced as it may deem necessary for the recovery of the possession of the Equipment and further the Owner shall not be liable for any loss, damage, fine, cost or expense suffered or incurred as a result of or in any way incidental to any action taken or any proceedings commenced whatsoever whether or not against the Owner and the Hirer indemnifies the Owner in respect of any such loss, damage, fine, cost or expense.

(i) The Hirer agrees to forfeit any deposit paid to the Owner in the event that the Equipment is not handed over at the termination of the Period of Hire.

(j) Where the Equipment remains on the Owners premises during the period of hire, the Hirer, its employees or agents will be allowed unrestricted access to the equipment provided that the exercise of this right does not interfere with any goods or chattels on or near the Owners’s premises. Nothing in this Agreement shall be taken or construed as conferring upon the Hirer any interest in any land or building (whether owned by the owner or not) upon or in which the Equipment is situated.

(k) The Hirer shall give Price & Speed Containers Pty Ltd seven (7) days notice in writing (hereinafter called Notice of Termination) of intention to terminate hire and shall ensure that the unit is available for recovery by Price & Speed Containers Pty Ltd on the due date.

(l) Failure in the Notice of Termination to nominate a date not less than seven (7) days from the date of such notice or the non-availability of the unit for recovery shall render the Hirer liable to additional hire from the date nominated as the date of termination, for the period necessary to make up the seven (7) days notice. (m)The notice of termination may be served at the business address of Price & Speed Containers Pty Ltd or posted by registered Pre-Paid Post.

(n) Notwithstanding the above conditions, the Hirer may terminate by telephone to Price & Speed Containers Pty Ltd but such method of termination will only be effective in the event of subsequent written confirmation.

3. Use and Maintenance of Equipment

(a) The Hirer warrants that it will use the Equipment in the reasonable, safe and proper manner during the Period of Hire and the Hirer indemnifies the Owner for any liability whatsoever arising out of the Hirers failure to comply with this warranty.

(b) The Hirer warrants that he will secure the Equipment by means of a device first approved by the Owner.

(c) The Hirer warrants that the Equipment shall not be used by the Hirer or on behalf for any purpose or use other than that for which it was expressly designed.

(d) The Hirer agrees not to use any container for the purpose of conducting any business and will not carry out any manufacturing process from or within the container.

(e) The Hirer shall not keep or store in any container or on or near any container any volatile spirits or explosive goods or goods which are or may become dangerous, corrosive, highly combustible or offensive (including radioactive materials), goods which are likely to encourage any vermin or pests or which are or may become liable to damage any property whatsoever without first disclosing the nature of such goods, obtaining the agreement of the Owner (and if required by the Owner completing a Declaration for Dangerous Goods) and in any event shall be liable for all loss and damage caused thereby, and if in the opinion of the Owner, goods or part thereof are or are liable to be dangerous, corrosive, highly combustible or offensive or likely to encourage any vermin or pests the same may at any time be destroyed, disposed of, abandoned or rendered harmless by the Owner without compensation to the Hirer and without prejudice to the Owners right to any charges hereunder.

(f) Where the Equipment is delivered to the Hirer the Hirer shall be responsible during the Period of Hire for:

(i) the proper maintenance of the Equipment;

(ii) compliance with any direction or instruction given by the Owner as to the method of use of the Equipment;

(iii) immediate notification to the Owner should the Equipment show any signs of mechanical or other failure;

(iv) notification to the Owner prior to any change in the location of the Equipment.

(g) The Hirer shall advise the Owner prior to delivery of the Equipment to it that the Equipment may be used outside New South Wales.

4. Equipment Failure

(a) In the event of any mechanical or other failure of the Equipment the Hirer shall immediately notify the Owner and the Hirer shall on no account repair or attempt to repair the Equipment without obtaining the prior consent of the Owner and further the Hirer shall make sure arrangements for repair of the Equipment as the Owner requires.

(b) The Owner shall not be responsible in tort or contract or otherwise for any loss, damage whether direct or consequential, delay or inconvenience of any kind or for any cost or expense incurred thereby whatsoever whether arising out of or relating to any breakdown or failure of the Equipment of otherwise for any reason whatsoever including without limiting the foregoing the negligence or breach of contract or wilful act or default of the Owner of others and this sub-Clause (b) shall apply to all such loss, damage, delay, inconvenience, cost or expense as aforesaid whether or not the same occurs in the course of the performance by or on behalf of the Owner of these Terms and Conditions or in events which are in the contemplation of the Owner and/or the Hirer or in events which are foreseeable by them or either of them or in events which could constitute a fundamental breach of these Terms and Conditions or a Breach of a fundamental term thereof.

(c) The Hirer shall be liable for any injury to or death of any person or any loss of or damage to any property caused or contributed to through the use of the Equipment and hereby indemnifies the Owner, his servants or agents against any claim, allegation, action or proceedings whatsoever made or taken against them in connection with or arising out of or in any way incidental to such injury, death, loss or damage in the above circumstances.

5. Damage to Equipment The Hirer shall be responsible to the Owner during the Period of Hire for all loss or damage occasioned to the Equipment whether such loss or damage is caused by theft, negligence of the Hirer, his servants or agents or other persons (excluding employees or agents of the Owner) including but not limited to malicious acts of any party and the Hirer indemnifies the Owner, his servants or agents against any claim, allegation, action or proceedings whatsoever made or taken against them in connection with or arising out of or in any way incidental to the use or the possession of the Equipment by the Hirer during the Period of Hire. The Hirer also agrees that on completion of the Period of Hire the whole of the costs of replacement or repairs to the Equipment shall be deducted from any deposit paid by the Hirer under these Terms and Conditions.

6. Personal Injury and Property Damage The Hirer shall be liable in respect of any injury, death, loss or damage incurred or suffered arising out of or in any way connected with an use of the Equipment during the Period of Hire by the Hirer, his servants or agents or any other person acting on behalf of the Hirer and the Hirer indemnifies the Owner, his servants or agents in respect of any allegation, claim, action or proceedings whatsoever made or taken against them in connection with or arising out of or in any way incidental to such injury, death, loss or damage.

7. Payment of Charges

(a) The Hirer agrees to pay hire charges within seven (7) days of the date of receipt of an invoice from the Owner shall otherwise agree.

(b) The Hirer agrees that the Owner shall be entitled to vary the rates of hire charges by giving thirty (30) days notice in writing thereof to the Hirer, unless otherwise agreed in writing by the Owner.

(c) The Hirer shall also pay to the Owner upon the presentation of an invoice from the Owner to the Hirer:

(i) the amount relating to any loss of or damage to the Equipment;

(ii) the amount of tax, duty, levy, charge or other expense paid or payable presently or prospectively by the Owner to any government authority including but not limited to any Federal and/or State tax or duty in respect of the use of the Equipment;

(iii) the cost of delivery, redelivery and/or collection and all other related charges whether or not uncured by the Owner of the Hirer, such charges being in addition to time changes;

(iv) costs incurred by the Owner in repossession of the Equipment

(d) The Hirer agrees to pay interest at the rate of eighteen per cent (18%) per annum on any monies owing and overdue under these Terms and Conditions.

8. Insurance

(a) Prior to the commencement of the Period of Hire, the Hirer agrees to effect at its own cost and at all times during such Period of Hire keep in force appropriate policies of insurance to the Owners satisfaction for property damage to the Equipment in an amount not less than the replacement cost of the Equipment and as agreed by the Owner and for all third party and public liability risks in respect of the use of the Equipment by the Hirer during such period of hire in an amount not less than $2,000,000.

(b) Such policies of insurance shall contain a provision whereby the insurer waives all right of subrogation which the insurer may have against the Owner.

(c) Further the Hirer agrees to produce to the Owner upon request the relevant cover notes and certificates of insurance of insurance in respect of the said insurances effected.

(d) If the Equipment is damaged or destroyed, the Hirer undertakes to arrange for the insurance monies to be paid to the Owner and if, for any reason, no insurance monies are payable the Hirer shall pay on demand to the Owner an amount equal to the replacement value of the Equipment.

9. TRADE PRACICES ACT. 1974 (AS AMENDED) NOTWITHSTANDING ANYTHING HEREIN CONTAINED THE OWNER SHALL CONTINUE TO BE SUBJECT TO ANY IMPLIED WARRANTY PROVIDED BY THE TRADE PRACTICES ACT, 1974 (AS AMENDED) IF AND TO THE EXTENT THAT THE SAID ACT IS APPLICABLE TO THESE TERMS AND CONDITIONS AND PREVENTS THE EXCLUSION, RESTRICTION OR MODIFICATION OR ANY SUCH WARRANTY. The liability of the Owner, if any, for breach of any warranty so implied (other than where the services are those of a kind ordinarily required for personal, domestic or household use or consumption) shall be limited at the Owners option to the supply of the service again or the payment of having the services supplied again.

10. This agreement may not be transferred or assigned without the consent of Price & Speed Containers Pty Ltd.