Coin-Operated Laundry in an Apartment Building.
A Rhode Island Agreement Granting Exclusive Right to Install, Operate, and Maintain Coin-Operated Laundry in an Apartment Building is a legal document that establishes a binding contract between the owner/landlord of an apartment building (referred to as the "Granter" in the agreement) and a laundry service provider (referred to as the "Grantee" in the agreement). This agreement grants the Grantee the exclusive rights to install, operate, and maintain coin-operated laundry machines within the designated laundry areas of the apartment building. The agreement is specific to Rhode Island and adheres to the state's laws and regulations regarding the operation of coin-operated laundry facilities in residential properties. The purpose of this agreement is to outline the rights and responsibilities of both parties involved. It ensures that the Grantee has the exclusive right to provide laundry services on the premises, restricting the Granter from granting such rights to any other party during the specified lease term. Key terms and conditions included in this agreement may include: 1. Exclusive rights: The agreement grants the Grantee the sole and exclusive right to install, operate, and maintain coin-operated laundry machines in the designated laundry areas of the apartment building. This clause prevents the Granter from introducing any competing laundry services during the lease term. 2. Lease term: The agreement specifies the duration of the exclusive rights granted to the Grantee. Typically, this term can range from one to five years, depending on the terms agreed upon by both parties. 3. Rent or revenue sharing: The agreement may specify the financial terms, such as the payment of a fixed monthly rent or a percentage-based revenue sharing arrangement between the Granter and the Grantee. This ensures that the Granter receives compensation for providing the exclusive rights and use of the common laundry areas. 4. Maintenance and repairs: The agreement outlines the responsibilities of both parties regarding the maintenance and repair of the laundry machines, including regular servicing, cleaning, and ensuring proper functioning. It may also include clauses related to liability for damages or malfunctioning equipment. 5. Installation and improvements: If there are any requirements for installing additional laundry machines or making improvements to the existing laundry facility, such as upgrading to new machines, these details would be outlined in the agreement. 6. Termination and renewal: The agreement may include provisions for termination, allowing either party to end the agreement prematurely under certain circumstances. Additionally, there may be an option for renewal at the end of the lease term if both parties wish to continue the exclusive rights' agreement. If there are variations of this agreement within the Rhode Island context, they may be differentiated by specific clauses related to terms, rent, revenue sharing percentages, duration, and other terms that may vary based on individual negotiations between the Granter and the Grantee.
