Equipment Lease Agreement

    

Equipment Lease Agreement

This arrangement between {Lessor}, hereafter known as "Lessor," and {Lessee}, hereafter known as "Lessee," concerns the following specific equipment: {list each piece of equipment}. This equipment and no other properties, including parts, fuel, or covers, will be provided to the Lessee for the duration of the lease. Additional equipment or parts relating to the equipment must be provided by the Lessee.

In summary: the Lessee hereby makes known an intention to lease from Lessor the above equipment. This lease will not be considered finalized until this document is signed and a payment of {payment} is furnished. Additionally, a deposit of {deposit} will be held by the Lessor to protect against damages. The date of this exchange will be {date}.

It is the Lessee's responsibility to claim and transport the equipment, except by prior arrangement. It is understood that if equipment is not returned to the Lessor within the lease terms, Lessee will forfeit some or all of the deposit. Insurance for the equipment will be purchased by Lessee, evidence of which will be provided to the Lessor. Lessee shall be responsible for returning the equipment in the same condition in which it was surrendered.

Repairs to the equipment while under the care of the Lessee will be paid for and provided by the Lessee. Equipment will be used exactly and only in its specified manner, as described in the owner's manual that has been provided to the Lessee. Illegal use of the equipment is strictly forbidden.

The Lessee shall hold the Lessor harmless in care of injury resulting from use of the equipment, even if the equipment is found inherently dangerous. This agreement extends beyond the term of the lease, including any damage discovered in the future. Likewise, damage to property shall be the sole responsibility of the Lessee.

In the case of irreparable damage or loss of the equipment, Lessee shall replace the equipment with models in working condition. Lessor shall have the right to inspect any replacements.

In addition to the above terms, certain special conditions also apply: {list special conditions, including those specific to the equipment being leased}.

By signing the agreement, both parties agree to the above terms in their entirety.

 

(Lessee Signature)		(Date)
(Lessor Signature)		(Date)

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