This required section states the names and addresses of the Lessor and the Lessee. Press [Ctrl+F1] for more information.
This required section identifies the equipment that will be leased. Press [Ctrl+F1] for more information.
This required section states the amount of the lease payments and the frequency of the payments. Press [Ctrl+F1] for more information.
This optional section allows the Lessor to require a security deposit for protection against damages. Press [Ctrl+F1] for more information.
This required section states that the Lessee assumes all risks of loss and damage to the equipment and agrees to return the equipment to the Lessor in the condition it was received. Press [Ctrl+F1] for more information.
This required section states the beginning and ending dates of the lease. Press [Ctrl+F1] for more information.
This optional section states the location of the equipment during the lease term. Press [Ctrl+F1] for more information.
This required section states that the Lessee shall operate the equipment in a careful and proper manner and shall comply with all laws, ordinances and regulations regarding the equipment. Press [Ctrl+F1] for more information.
This optional section prohibits alterations to the equipment if the value would be reduced, or if the Lessor's prior written consent is not obtained. Press [Ctrl+F1] for more information.
This required section states that the Lessee will maintain the equipment in good condition. The Lessee may also be responsible for paying all repair costs for the equipment. Press [Ctrl+F1] for more information.
This optional section enables the Lessor to inspect the equipment during the Lessee's normal business hours. Press [Ctrl+F1] for more information.
This required section states that the Lessee is to return the equipment to the Lessor at the end of the lease term. Press [Ctrl+F1] for more information.
This optional section gives the Lessee the opportunity to renew the existing lease if the Lessee is not in default upon the expiration of this lease. Press [Ctrl+F1] for more information.
This optional section gives the Lessee the opportunity to purchase the equipment if the Lessee is not in default at the end of this lease term. Press [Ctrl+F1] for more information.
This required section states that the Lessee must inspect the equipment upon delivery before acceptance and report any discrepancies to the Lessor. Press [Ctrl+F1] for more information.
This required section states that the equipment shall remain the personal property of the Lessor. Press [Ctrl+F1] for more information.
This optional section states whether the Lessor makes any warranties regarding the equipment. Press [Ctrl+F1] for more information.
This required section states that if the equipment is damaged or lost, the Lessor may require the Lessee to repair or replace the equipment. Press [Ctrl+F1] for more information.
This required section states who shall be held liable for injury to any person caused by the use or handling of the equipment. Press [Ctrl+F1] for more information.
This required section states who will be responsible for maintaining casualty insurance with respect to the equipment. Press [Ctrl+F1] for more information.
This optional section states that the Lessee shall be responsible for paying all taxes, assessments, license and registration fees on the equipment. Press [Ctrl+F1] for more information.
This required section outlines the occurrences which would constitute a default under the lease. Press [Ctrl+F1] for more information.
This required section states the rights of the Lessor if the Lessee defaults. Press [Ctrl+F1] for more information.
This required section states that all notices shall be delivered in writing with postage paid and forwarded by mail or person to the correct address provided. Press [Ctrl+F1] for more information.
This optional section states that the Lessee must have the Lessor's prior written consent before assigning any interest leased under the lease to a third party. Press [Ctrl+F1] for more information.
This required section includes standard provisions regarding the interpretation and enforcement of the lease. Press [Ctrl+F1] for more information.
This optional section states that the Lessee certifies that all documents submitted to the Lessor regarding the Lease are true and correct, and that any misrepresentation may be deemed as a default.
This optional section states that any claim arising out of the lease shall be settled in binding arbitration. Press [Ctrl+F1] for more information.
This required section provides signature lines for the Lessor and the Lessee. Press [Ctrl+F1] for more information.
This required section contains a description of the equipment. Press [Ctrl+F1] for more information.
Times New Roman
Equipment Lease
ELEASE
The Equipment Lease is an agreement that specifies the rights and obligations between a Lessor who owns equipment and a Lessee who obtains certain rights to possess and use the equipment under the lease.
!!!!!!! !!!
Enter the Lessee's street address or edit the information as desired.
Enter the Lessee's extended address or edit the information as desired.
Enter the Lessee's city or edit the information as desired.
Enter the Lessee's state/province or edit the information as desired.
Enter the Lessee's zip/postal code or edit the information as desired.
Enter the country or edit the information as desired.
Enter an X to include the country in which the Lessee resides, if outside the United States.
Enter the state/province in which the Lessor resides or edit the information as desired.
Enter the name of the owner of the equipment to be leased, the "Lessor" or edit the information as desired. Use the P.I. Manager to select and paste a record.
Enter the name of the person leasing the equipment, the "Lessee" or use the P.I. Manager to select and paste a record.
ELS01
! Opening Section (1 of 30)
EQUIPMENT LEASE
This Equipment Lease (this "Lease") is made effective as of !, between ! (the "Lessor"), !,
!, ! !,
! Country: !,
! (the "Lessee"), !,
!, ! !,
! Country: !,
and states the agreement of the parties as follows:
Using the format MM/DD/YYYY, enter the effective date of the lease.
Enter the name of the owner of the equipment to be leased, the "Lessor" or edit the information as desired. Use the P.I. Manager to select and paste a record.
Enter the Lessor's street address or edit the information as desired.
Enter the Lessor's extended address or edit the information as desired.
Enter the Lessor's city or edit the information as desired.
Enter the state/province in which the Lessor resides or edit the information as desired.
Enter the Lessor's zip/postal code or edit the information as desired.
Enter an X to include the country in which the Lessor resides, if outside the United States.
Enter the country or edit the information as desired.
Enter the name of the person leasing the equipment, the "Lessee" or use the P.I. Manager to select and paste a record.
Enter the Lessee's street address or edit the information as desired.
Enter the Lessee's extended address or edit the information as desired.
Enter the Lessee's city or edit the information as desired.
Enter the Lessee's state/province or edit the information as desired.
Enter the Lessee's zip/postal code or edit the information as desired.
Enter an X to include the country in which the Lessee resides, if outside the United States.
ELS02
! Equipment Section (2 of 30)
EQUIPMENT SUBJECT TO LEASE. The Lessor shall lease the equipment listed on the attached Exhibit A (the "Equipment Schedule").
ELS03
! Payments Section (3 of 30)
! PAYMENT TERMS. The total lease payment, based on a rate
of $! per ! of use, is due and payable at the time the equipment is returned. Charges will be computed from
! the effective date of this Lease until the equipment is returned.
! ! until the equipment is returned.
! PAYMENT TERMS. The Lessee shall make ! !
payments of $! each. Payments shall be due on the ! day of each !, with the first payment due on !. The lease payments shall be due whether or not the Lessee has received notice of a payment due.
! TAX. Sales and/or use tax, if required, is included.
! SERVICE CHARGE. If any Lease installment is not paid within ! day(s) after the due date, the Lessee shall pay to the Lessor a service charge of $! per day.
! NON-SUFFICIENT FUNDS. The Lessee shall be charged $! for each check that is returned to the Lessor for lack of sufficient funds.
Enter an X if the Lessee will be required to make one total payment.
Enter the dollar amount that will be charged for each time period that the equipment is used.
Enter the time period (for example, "hour", "day" or "week").
Enter an X if the Lessee will pay this charge from the effective date of the lease until the equipment is returned.
Enter an X to select a specific starting date indicating when the Lessee will be obligated to pay the charge.
Using the format MM/DD/YYYY, enter the date when the Lessee will be obligated to pay the charge.
Enter an X to include a specific payment plan. For example, "three monthly payments of one hundred dollars each".
Enter the number of payments.
Enter the frequency of payments (for example, "weekly" or "monthly").
Enter the dollar amount of each payment.
Enter the day of each time period that payment is due (for example, "first" or "last").
Enter the specific time period (for example, "month" or "week").
Using the format MM/DD/YYYY, enter the date when the first payment is due.
Enter an X to include a sentence regarding sales/use taxes.
Enter an X to include a sentence regarding service charges.
Enter the number of "grace" days that will be allowed before assessing a late charge.
Enter the amount to be charged for late payments.
Enter an X to include a sentence regarding checks that are returned for lack of sufficient funds.
Enter the dollar amount the Lessee will be charged for each check that is returned for lack of sufficient funds.
ELS04
! Optional Deposit Section (4 of 30)
SECURITY DEPOSIT. In addition to the lease payment charge, the Lessee shall pay a security deposit of $! at the time that this Lease is signed. This deposit will be returned to the Lessee at the termination of this Lease, subject to the option of the Lessor to apply it against Lease charges and damages. Any amounts refundable to the Lessee shall be paid
! within ! day(s) after
! at the time
this Lease is terminated. The security deposit shall
! not bear interest.
! bear interest at an annual rate of !% from the date paid to the Lessor until the date refunded, based on
! the total amount of the security deposit.
! the amount of the security deposit refunded.
Enter an X to include a section regarding a security deposit. A security deposit may provide some protection against damages caused by the Lessee.
Enter the amount of the security deposit.
Enter an X to require the Lessor to refund the security deposit within a specific number of days.
Enter the specific number of days.
Enter an X if the security deposit will be refunded at the termination of the lease.
Enter an X if the security deposit will not bear interest.
Enter an X if the security deposit will bear interest.
Enter the rate of interest that will be applied to the security deposit.
Enter an X if interest on the security deposit will be based on the full amount of the deposit.
Enter an X if interest on the security deposit will be based only on the amount of the deposit to be refunded.
ELS05
! Risk Section (5 of 30)
RISK OF LOSS OR DAMAGE. The Lessee assumes all risks of loss or damage to the equipment from any cause, and agrees to return it to the Lessor in the condition received from the Lessor, with the exception of normal wear and tear.
ELS06
! Lease Term Section (6 of 30)
LEASE TERM. This Lease shall begin on the above effective date and shall terminate on !.
Using the format MM/DD/YYYY, enter the date that this lease will terminate.
ELS07
! Optional Location Section (7 of 30)
LOCATION OF EQUIPMENT. The equipment shall be located at !,
!, ! !,
! Country: !,
! and/or
!, ! !,
! Country: !,
during the lease term, and shall not be removed from that location without the Lessor's prior written consent.
Enter an X to include a section that states the location of the equipment during the lease term.
The program transfers the Lessee's address from a previous section. If desired, you may modify the information if the location of the equipment is different than the Lessee's address. Use the P.I. Manager to select and paste a record.
Enter the extended street address or edit the information as desired.
Enter the city in which the equipment is to be located and/or used by the Lessee, or edit the information as desired.
Enter the state/province in which the equipment is to be located and/or used by the Lessee, or edit the information as desired.
Enter the zip/postal code where the equipment is to be located and/or used by the Lessee or edit the information as desired.
Enter an X to include the country in which the equipment shall be located, if outside the United States.
Enter the country.
Enter an X to include a second address where the equipment may be located.
Enter the second address where the equipment is to be located or use the P.I. Manager to select and paste a record.
Enter the extended address where the equipment is to be located or edit the information as desired.
Enter the city in which the equipment is to be located and/or used by the Lessee or edit the information as desired.
Enter the state/province in which the equipment is to be located and/or used by the Lessee or edit the information as desired.
Enter an X to include the country in which the equipment is to be located, if outside the United States.
Enter the country or edit the information as desired.
ELS08
! Care Section (8 of 30)
CARE AND OPERATION OF EQUIPMENT. The equipment may only be used and operated in a careful and proper manner. Its use must comply with all laws, ordinances, and regulations relating to the possession, use, or maintenance of the equipment, including registration and/or licensing requirements, if any.
ELS09
! Optional Alterations Section (9 of 30)
ALTERATIONS. Lessee shall
! make no alterations to the equipment without the prior consent of the Lessor.
! be permitted to make alterations to the equipment, if the alterations do not reduce the value of the equipment or significantly alter the purposes for which the equipment is designed.
All alterations shall be the property of the Lessor and subject to the terms of this Lease.
Enter an X to include a section that allows the Lessee to make alterations to the equipment.
Enter an X if the Lessor's consent must be obtained prior to making alterations to the equipment.
Enter an X if alterations are permitted ONLY IF they do not reduce the value of the equipment or significantly alter the purposes for which the equipment is designed.
ELS10
! Maintenance Section (10 of 30)
MAINTENANCE AND REPAIR. The Lessee shall maintain the equipment in good repair and operating condition, allowing for reasonable wear and tear.
! The Lessee shall pay all costs required to maintain the equipment in good operating condition. Such costs shall include labor, material, parts, and similar items.
Enter an X if the Lessee is obligated to pay all maintenance costs.
ELS11
! Optional Inspection Section (11 of 30)
LESSOR'S RIGHT OF INSPECTION. The Lessor shall have the right to inspect the equipment during Lessee's normal business hours.
Enter an X to include a paragraph that states the Lessor will have the right to inspect the equipment.
ELS12
! Return Section (12 of 30)
RETURN OF EQUIPMENT. At the end of the Lease term, the Lessee shall be obligated to return the equipment to the Lessor at the Lessee's expense.
ELS13
! Renewal Section (13 of 30)
OPTION TO RENEW. If the Lessee is not in default upon the expiration of this lease, the Lessee shall have first option to lease the equipment on such terms as the parties may agree at that time.
Enter an X to include a sentence that allows the Lessee to renew the lease if the Lessee is not in default under the lease.
ELS14
! Purchase Section (14 of 30)
OPTION TO PURCHASE. If the Lessee is not in default under this Lease, the Lessee shall have the option to purchase items of equipment at the end of the lease term for the price specified for such items of equipment in the attached Equipment Schedule. The Lessee shall exercise this option by providing written notice to the Lessor of such intent at least ! day(s) prior to the end of the lease term.
Enter an X to include a paragraph that gives the Lessee the opportunity to purchase the equipment at the end of the lease if the Lessee is not in default under the lease.
Enter the number of days written notice that the Lessee must give the Lessor prior to the end of the lease. For example, "7" or "seven" days.
ELS15
! Acceptance Section (15 of 30)
ACCEPTANCE OF EQUIPMENT. The Lessee shall inspect each item of equipment delivered pursuant to this Lease. The Lessee shall immediately notify the Lessor of any discrepancies between such item of equipment and the description of the equipment in the Equipment Schedule. If the Lessee fails to provide such notice
! before accepting delivery of the equipment,
! in writing within ! day(s) after the delivery of the equipment,
the Lessee will be conclusively presumed to have accepted the equipment as specified in the Equipment Schedule.
Enter an X to include a provision that requires the Lessee to inspect the equipment and report any discrepancies before accepting delivery of the equipment.
Enter an X to include a provision that requires the Lessee to provide written notice of any discrepancies between the equipment received and the equipment listed in the lease.
Enter the number of days after delivery that the Lessee has to provide notice. For example, "5" or "five" days.
ELS16
! Ownership Section (16 of 30)
OWNERSHIP AND STATUS OF EQUIPMENT. The equipment will be deemed to be personal property, regardless of the manner in which it may be attached to any other property. The Lessor shall be deemed to have retained title to the equipment at all times, unless the Lessor transfers the title by sale. The Lessee shall immediately advise the Lessor regarding any notice of any claim, levy, lien, or legal process issued against the equipment.
ELS17
! Optional Warranty Section (17 of 30)
WARRANTY.
! The Lessor makes no warranties, express or implied, as to the equipment leased. The Lessee assumes the responsibility for the condition of the equipment.
! The Lessor warrants that the above property is in good working condition, but makes no further warranties, express or implied.
Enter an X to include a section regarding warranties on the equipment. This section is usually included in the lease.
Enter an X if the Lessor makes no warranties in respect to the equipment leased.
Enter an X if the Lessor warrants the property to be in good, working condition.
ELS18
! Loss/Damage Indemnity Section (18 or 30)
INDEMNITY OF LESSOR FOR LOSS OR DAMAGES. If the equipment is damaged or lost, the Lessor shall have the option of requiring the Lessee to repair the equipment to a state of good working order, or replace the equipment with like equipment in good repair, which equipment shall become the property of the Lessor and subject to this Lease.
ELS19
! Liability And Indemnity Section (19 of 30)
! LIABILITY AND INDEMNITY. Liability for injury, disability, and death of workers and other persons caused by operating, handling, or transporting the equipment during the term of this Lease is the obligation of the Lessee, and the Lessee shall indemnify and hold the Lessor harmless from and against all such liability.
! Lessee shall maintain liability insurance of at least $!.
! LIABILITY INSURANCE. The Lessor shall be responsible for maintaining liability insurance regarding the equipment.
Enter an X if the Lessee will be held liable for any injury, disability or death to any person and indemnify the Lessor during the term of this Lease.
Enter an X if the Lessee will be responsible for maintaining public liability insurance.
Enter the dollar amount of public liability insurance the Lessee will be obligated to maintain.
Enter an X if the Lessor will be responsible for maintaining public liability insurance.
ELS20
! Casualty Section (20 of 30)
! CASUALTY INSURANCE. The Lessee shall insure the equipment in an amount
! of at least $!.
! sufficient to cover the replacement cost of the equipment.
! CASUALTY INSURANCE. The Lessor shall be responsible to maintain casualty insurance with respect to loss or damage of the equipment.
Enter an X to require the Lessee to insure the equipment.
Enter an X to specify the dollar amount of insurance coverage required.
Enter the dollar amount of insurance coverage that will be required.
Enter an X to require insurance coverage equal to the replacement cost of the equipment.
Enter an X to require the Lessor to maintain casualty insurance.
ELS21
! Optional Taxes Section (21 of 30)
TAXES AND FEES. During the term of this Lease, the Lessee shall pay all taxes, assessments, and license and registration fees on the equipment.
Enter an X to include a sentence that states the Lessee will be obligated to pay all taxes and fees associated with the use of the equipment.
ELS22
! Default Section (22 of 30)
DEFAULT. The occurrence of any of the following shall constitute a default under this Lease:
A. The failure to make a required payment under this Lease when due.
B. The violation of any other provision or requirement that is not corrected within ! day(s) after written notice of the violation is given.
C. The insolvency or bankruptcy of the Lessee.
D. The subjection of any of Lessee's property to any levy, seizure, assignment, application or sale for or by any creditor or government agency.
Enter the specific number of days that the Lessee will have to correct the default. For example, "20" or "twenty" days.
ELS23
! Rights On Default Section (23 of 30)
RIGHTS ON DEFAULT. If the Lessee is in default under this Lease, without notice to or demand on the Lessee, the Lessor may take possession of the equipment as provided by law, deduct the costs of recovery (including attorney fees and legal costs), repair, and related costs, and hold the Lessee responsible for any deficiency. The Lessor shall be obligated to re-lease the equipment, or otherwise mitigate the damages from the default, only as required by law.
ELS24
! Notice Section (24 of 30)
NOTICE. All notices required or permitted under this Lease shall be deemed delivered when delivered in person or by mail, postage prepaid, addressed to the appropriate party at the address shown for that party at the beginning of this Lease.
ELS25
! Optional Assignment Section (25 of 30)
ASSIGNMENT. The Lessee shall not assign or sublet any interest in this Lease or the equipment or permit the equipment to be used by anyone other than the Lessee or Lessee's employees, without Lessor's prior written consent.
Enter an X to include a paragraph that will prohibit the Lessee from assigning the Lessee's interest in the lease to a third party.
ELS26
! General Provisions Section (26 of 30)
ENTIRE AGREEMENT AND MODIFICATION. This Lease constitutes the entire agreement between the parties. No modification or amendment of this Lease shall be effective unless in writing and signed by both parties. This Lease replaces any and all prior agreements between the parties.
GOVERNING LAW. This Lease shall be construed in accordance with the laws of the State of !.
SEVERABILITY. If any portion of this Lease shall be held to be invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If a court finds that any provision of this Lease is invalid or unenforceable, but that by limiting such provision, it would become valid and enforceable, then such provision shall be deemed to be written, construed, and enforced as so limited.
WAIVER. The failure of either party to enforce any provision of this Lease shall not be construed as a waiver or limitation of that party's right to subsequently enforce and compel strict compliance with every provision of this Lease.
Enter the state whose laws will govern this document. The state must have a reasonable connection to at least one of the parties.
ELS27
! Optional Certification Section (27 of 30)
CERTIFICATION. Lessee certifies that the application, statements, trade references, and financial reports submitted to Lessor are true and correct and any material misrepresentation will constitute a default under this Lease.
Enter an X to include a paragraph stating that the Lessee certifies that all documents regarding this lease are true and correct and any misrepresentation may be deemed as a default.
ELS28
! Optional Arbitration Section (28 of 30)
ARBITRATION. Any controversy or claim relating to this Lease, including the construction or application of this Lease, will be settled by binding arbitration under the rules of the American Arbitration Association, and any judgment granted by the arbitrator(s) may be enforced in any court of proper jurisdiction.
Enter an X to include a paragraph that requires the parties to use binding arbitration to settle any claim relating to this document. Press [Ctrl+F1] for more information.
The program transfers the name of the Lessor from a previous section. If the Lessor is a company, enter the name of the person signing on behalf of the company. Use the P.I. Manager to select and paste a record.
Enter an X to include the title of the person who will sign the lease on behalf of the Lessor.
Enter the title of the person who will sign the lease. For example, "Owner", "President", or "Manager".
The program transfers the name of the Lessee from a previous section. If the Lessee is a company, enter the name of the person signing on behalf of the company. Use the P.I. Manager to select and paste a record.
Enter an X to include the title of the person who will sign the lease on behalf of the Lessee.
Enter the title of the person who will sign the lease. For example, "Foreman", "Manager", or "Vice President".
ELS30
! Exhibit Section (30 of 30)
EXHIBIT A
Equipment Schedule
Equipment Description:
! Lease end Purchase Price: $!
! [Additional Equipment]
! Lease end Purchase Price: $!
! [Additional Equipment]
! Lease end Purchase Price: $!
! [Additional Equipment]
! Lease end Purchase Price: $!
! [Additional Equipment]
! Lease end Purchase Price: $!
! [Additional Equipment]
! Lease end Purchase Price: $!
! [Additional Equipment]
! Lease end Purchase Price: $!
! [Additional Equipment]
! Lease end Purchase Price: $!
Enter a brief description of the equipment being leased.
Enter an X to include the purchase price of the equipment.
Enter the purchase price of the equipment being leased.
Enter an X to include a description of additional equipment.
(.txt)