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In this video tutorial, Joe and Josie discuss key points from their contract. They clarify that the lease is for nine months and converts to a month-to-month arrangement after the ninth payment if the student continues in band. They mention a late fee of $10 for payments over five days late and emphasize the importance of communication to avoid this. Ownership remains with them until the instrument is purchased. They request customers to inform them if they move, and prohibit selling the instrument while still in lease. Additionally, they stress that customers are responsible for any loss or damage, such as theft or accidents.
