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Complete Home & Office Legal Guide
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Complete Home and Office Legal Guide (Chestnut) (1993).ISO
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1993-08-01
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81 lines
LEASE AGREEMENT
AAAA-A1 rentals, referred to as LEASING COMPANY and Morrison
Cleaners, referred to as CUSTOMER, agree:
CUSTOMER shall lease from LEASING COMPANY the following items:
V300 Super-slurper rug shampooer
LEASING COMPANY shall purchase the items set forth above as
CUSTOMER'S agent. LEASING COMPANY provides no warranty upon the
goods, and the sole warranty shall be that offered, if any, by the
MANUFACTURERS and sellers of the leased equipment.
The equipment shall be located at:
8309 Beauford Parkway, Tuscaloosa
and may not be moved without prior approval of LEASING COMPANY.
All expenses of delivery, set up and taxes of the leased goods
shall be paid directly by CUSTOMER to the providers of such
services.
CUSTOMER shall maintain insurance coverage, at its expense, upon
the leased property with broad form coverage through an insurance
carrier authorized to transact business in the State of Tennessee
acceptable to LEASING COMPANY, which approval shall not be
unreasonably withheld.
CUSTOMER agrees to pay LEASING COMPANY the total sum of $ 4000.00
( four thousand & no/100 dollars) in consideration of the lease of
the equipment, to be paid in 24 installments due every 30 days,
with the first payment due on September 30, 1996.
Upon the failure of CUSTOMER to pay any installment due, or to
comply with the provisions of this lease agreement, the LEASING
COMPANY may accelerate the payment of all remaining sums due. The
CUSTOMER shall pay all taxes and levies upon the equipment.
Upon default the LEASING COMPANY may take possession of the leased
items, and may enter the premises of CUSTOMER to do so.
CUSTOMER shall have the option to purchase the leased equipment at
the conclusion of the term of the lease, provided that all
payments have been made, for the sum of $ 10,000 ( ten thousand &
no/100 dollars). Should CUSTOMER decline to exercise this option,
CUSTOMER shall return the equipment, at its expense, to LEASING
COMPANY.
The customer shall be responsible for all maintenance upon the
leased items, and shall keep the equipment in good operating
condition.
Upon default, CUSTOMER agrees to pay any and all costs of
collection including attorney's fees incurred by LEASING COMPANY.
CUSTOMER shall not move the leased items without the prior
approval of LEASING COMPANY.
CUSTOMER agrees to execute financing statements or other documents
reasonably required by LEASING COMPANY.
Dated: _______________________________
_______________________________________
AAAA-A1 rentals
______________________________________
Morrison Cleaners