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_SETUP.1
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2040.BLD
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1997-07-22
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154 lines
#2040
@001 Please state the name of the owner of the property(lender):
~Enter the full legal name of the person who owns the vehicle.
~Should match name on title.
@002 Please state the name of the borrower of the property:
~Enter the name of the person who is borrowing the car.
@100 Enter the make of the vehicle:
~Enter the make of the vehicle. For example: Cadillac.
@101 Enter the model of the vehicle:
~Enter the name of the model. For example: 350 SEL.
@102/@102/@102 Enter the body style of the vehicle:
~Select the body style of the vehicle.
2 door
4 door
KEY IN VALUE
@103 Enter VIN of the vehicle:
~Enter the vehicle identification number of the vehicle.
@411 Please state length of bailment:
~Enter, in full, the length of the borrowing. For example: 4
~days.
@412 Please state purpose of borrowing:
~Enter the reason that the property was borrowed. For example:
~pleasure trip.
#2041/#2042/ The property will be insured:
~Select who will insure the property. Please note that this may
~effect insurance coverage. Check with agent.
By the owner
By the borrower
By neither, or contract does not state
#if#2042
@419/@419 State required limits of insurance:
~Select limits for bodily injury.
$ 500,000
KEY IN VALUE
#endif
#2044 Do you desire to have an indemnity clause?
~Select yes if you want an indemnity clause as the lender.
~Ordinarily this should be yes.
#2045
#end control section
#2040
/* Para. 2040: Bailment, general form */
BAILMENT AGREEMENT
@001, referred to herein as "OWNER" and @002, referred to as
"BORROWER," agree:
@001 is the owner of the following described motor vehicle:
Make of vehicle: @100
Model: @101
Body style: @102
VIN: @103
OWNER herewith bails to BORROWER the motor vehicle described
above, for a period of @411, for the purpose of @412. BORROWER
agrees to return the same to OWNER in good condition, ordinary
wear and excepted.
BORROWER acknowledges an opportunity to review the personal
property bailed, and ACCEPTS THE SAME "AS IS," "WITH ALL FAULTS"
and WITHOUT WARRANTY. BORROWER HAS ASCERTAINED THAT THE BAILED
PROPERTY IS FIT FOR THE PURPOSE THAT BORROWER DESIRES TO USE THE
BAILED PROPERTY.
#2041
/* Para. 2041: BAILMENT: Owner insures*/
OWNER has procured insurance for physical damage upon the bailed
items, and, accordingly informs BORROWER of the subrogation
rights of the insuror of OWNER. THE INSURANCE OBTAINED MAY NOT
COVER BORROWER FOR ANY PURPOSE.
#2042
/* Para. 2042: INSURANCE BY BORROWER*/
The BORROWER shall at all times maintain insurance coverage for
all insurable perils on the personal property bailed herein in a
minimum amount of @419, and OWNER shall be named as a loss payee
and co-insured thereon. OWNER may obtain such coverage for
BORROWER, and at BORROWER's expense, if the same is not obtained
and proof thereof given to OWNER.
#2043
/* Para. 2043: Indemnity */
The BORROWER agrees to indemnify and hold harmless OWNER from any
and all liability which may accrue as a result of BORROWER'S use
of the bailed property.
#2044
/* Para. 2044: Conclusion- bailment */
The OWNER may terminate this bailment prior to the expiration of
the same which is specified herein for cause, including but not
limited to:
a. the intentional misuse or neglect of the bailed property;
b. the use of the bailed property in contravention of any statute
or administrative regulation;
c. other objectively reasonable cause.
Said termination shall be effective immediately upon @001's
election to do so.
Dated: ________________________________
_______________________________________________
@001
______________________________________________
@002