Docstoc Legal Agreements
This is an agreement to lease equipment pursuant to the specific terms and conditions as
negotiated by the parties. This agreement contains provisions regarding indemnification,
rental payments, and disclaimer clauses, but does not have a warranty provision. This
document is useful to individuals or businesses located in Alaska seeking to lease
equipment without a warranty and can be customized to fit the needs of the drafting parties.
DISCLAIMERS: ALL INFORMATION AND FORMS ARE PROVIDED “AS IS” WITHOUT ANY WARRANTY OF ANY KIND, EXPRESS, IMPLIED, OR
OTHERWISE, INCLUDING AS TO THEIR LEGAL EFFECT AND COMPLETENESS. They are for general guidance and should be modified by you o r your
attorney to meet your specific needs and the laws of your state. Use at your own risk. Docstoc, its employees or contractors who wrote or modified any
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Entire document copyright © Docstoc®, Inc., 2010 - 2013. All Rights Reserved
AGREEMENT TO LEASE EQUIPMENT (WITHOUT WARRANTY)
THIS AGREEMENT TO LEASE EQUIPMENT (“Lease Agreement”) is made and effective
________ [Month] __ [Date], 20__ [Year], by and between ____________________________
[Instruction: Insert the name of Lessor], located at
__________________________________________ [Instruction: Insert the address of the
Lessor] (“Lessor”) and _______________________________ [Instruction: Insert the name of
Lessee], located at __________________________________ [Instruction: Insert the address
of the Lessee] (“Lessee”).
WHEREAS, Lessor is the sole owner of that certain equipment describe in Exhibit A.
WHEREAS, Lessee wishes to lease the equipment from the Lessor in accordance with the term
of this agreement.
WHEREAS, each party is duly authorized and capable of entering into this agreement.
NOW, THEREFORE, in consideration of the mutual covenants and promises hereinafter set
forth, the parties hereto agree as follows:
Lessor agrees to lease to Lessee, and Lessee agrees to lease and rent from Lessor, the equipment
more fully described in Exhibit A, (the “Equipment”), on the terms and conditions of this Lease
2. Term and Payment
See the attached Exhibit B.
Lessee shall be responsible for shipping the Equipment to Lessee's premises.
Lessee shall use the Equipment in a careful manner, shall make all necessary repairs at Lessee's
expense, and shall comply with all laws relating to its possession, use, or maintenance, and shall
not make any alterations, additions, or improvements to the Equipment without Lessor's prior
written consent. All additions, repairs, or improvements made to the Equipment shall belong to
The Equipment is, and shall remain, the property of Lessor, and Lessee shall have no right, title,
or interest therein or thereto except as expressly set forth in this Lease Agreement. The
Equipment shall remain personal property even if installed in or attached to real property.
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Lessee acquires no ownership rights in the Equipment and has no option to purchase same. Upon
the expiration or termination this Lease Agreement, or in the event of a default pursuant to
Paragraph 11 herein, Lessee, at its expense, shall return the Equipment in good condition and
shall perform any required repair work; however, it is understood and agreed that, ordinary wear
and tear resulting from proper use thereof alone is expected and expectable. Lessor shall deliver
the Equipment, by delivering it, packed and ready for shipment, to such place or carrier as Lessor
7. Loss and Damage
Lessee shall bear the entire risk of loss, theft, damage, or destruction of the Equipment from any
cause whatsoever, and no loss, theft, damage, or destruction of the Equipment shall relieve
Lessee of the obligation to pay rent or to comply with any other obligation under this Lease
In the event of loss or damage of any kind whatsoever to the Equipment, Lessee shall, at Lessor's
a) Place the same in good repair, condition, and working order; or
b) Replace the same with like equipment in good repair, condition, and working order; or
c) Pay to Lessor the replacement cost of the Equipment.
Lessee shall procure and continuously maintain and pay for all risk insurance against loss of and
damage to the Equipment for not less than the full replacement value of the Equipment, naming
Lessor as loss payee.
[Instruction & Comment: Please consult an attorney registered in State if equipment relates
to vehicle or medical.]
The insurance shall be in such form and with such company or companies as shall be reasonably
acceptable to Lessor, shall provide at least ___________ (___) [◊Thirty (30)] days [Comment:
these numbers are not provided by the law, but can be any number the user chooses]
advance written notice to Lessor of any cancellation, change, or modification, and shall provide
primary coverage for the protection of Lessee and Lessor without regard to any other coverage
carried by Lessee or Lessor protecting against similar risks. Lessee shall provide Lessor with an
original policy or certificate evidencing such insurance. Lessee hereby appoints Lessor as
Lessee's attorney in fact with power and authority to do all things, including, but not limited to,
making claims, receiving payments, and endorsing documents, checks, or drafts necessary or
advisable to secure payments due under any policy of insurance required under this Lease
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Lessee shall keep the Equipment free and clear of all levies, liens, and encumbrances. Lessee, or
Lessor at Lessee's expense, shall report, pay, and discharge when due all license and registration
fees, assessments, sales, use and property taxes, gross receipts, taxes arising out of receipts from
use or operation of the Equipment, and other taxes, fees, and governmental charges similar or
dissimilar to the foregoing, together with any penalties or interest thereon, imposed by any state,
federal, or local government or any agency, or department thereof, upon the Equipment or the
purchase, use, operation, or leasing of the Equipment or otherwise in any manner with respect
thereto and whether or not the same shall be assessed against or in the name of Lessor or Lessee.
However, Lessee shall not be required to pay or discharge any such tax or assessment so long as
it shall, in good faith and by appropriate legal proceedings, contest the validity thereof in any
reasonable manner which will not affect or endanger the title and interest of Lessor to the
Equipment; provided, Lessee shall reimburse Lessor for any damages or expenses resulting from
such failure to pay or discharge.
Lessee shall indemnify Lessor against, and hold Lessor harmless from, any and all claims,
actions, suits, proceedings, costs, expenses, damages, and liabilities, including reasonable
attorney's fees and costs, arising out of, connected with, or resulting from Lessee's possession or
use of the Equipment, including without limitation the manufacture, selection, delivery,
possession, use, operation, or return of the Equipment. Such indemnification shall survive the
expiration, cancellation, or termination of this Lease Agreement.
Lessee shall be in default of this Lease Agreement if:
a) Lessee shall fail to make any payment due under the terms of this Lease Agreement for a
period of ___________ (___) [◊Ten (10)] days [Comment: these numbers are not
provided by the law, but can be any number the user chooses] from the due date
b) Lessee shall fail to observe, keep, or perform any other provision of this Lease
c) Lessee has made any misleading or false statement in connection with, application for, or
performance of this Lease Agreement; or
d) The Equipment or any part thereof shall be subject to any lien, levy, seizure, assignment,
transfer, bulk transfer, encumbrance, application, attachment, execution, sublease, or sale
without prior written consent of Lessor, or if Lessee shall actually or constructively
abandon the Equipment or permit any other entity or person to use the Equipment without
the prior written consent of Lessor; or
e) Lessee dies or ceases to exist; or
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f) Any proceeding under the Bankruptcy Act, as amended, is commenced by or against
Lessee, or if Lessee is adjudged insolvent, or if Lessee makes any assignment for the
benefit of his/her creditors, or if a writ of attachment or execution is levied on the
Equipment and is not released or satisfied within a period of ___________ (___) [◊Ten
(10)] [Comment: these numbers are not provided by the law, but can be any number
the user chooses] days thereafter, or if a receiver is appointed in any proceeding or
action to which Lessee is a party with authority to take possession or control of the
If Lessee is in default, Lessor, with or without notice to Lessee, shall have the right to exercise
any one or more of the following remedies, concurrently or separately and without any election
of remedies being deemed to have been made:
a) To declare the entire amount of rent hereunder immediately due and payable without
notice or demand to Lessee.
b) To sue for and recover all rents, and other payments, then accrued or thereafter accruing.
c) To take possession of the Equipment, without demand or notice, wherever the same may
be located, without any court order or other process of law. Lessee hereby waives any
and all damages occasioned by such taking of possession.
d) To terminate this Lease Agreement.
e) To pursue any other remedy at law or in equity.
The parties hereby agree that this document contains the entire agreement between the parties
and this Lease Agreement shall not be modified, changed, altered, or amended in any way except
through a written amendment signed by all of the parties hereto.
Any notice required or permitted under this Lease Agreement or under state law shall be deemed
sufficiently given or served if sent by United States certified mail, return receipt requested,
addressed as follows:
If to Lessor to: _____________________________________
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If to Lessee to: _____________________________________
Lessor and Lessee shall each have the right from time to time to change the place notice is to be
given under this paragraph by written notice thereof to the other party.
15. Additional Provisions
If any provision of this Lease Agreement is held to be invalid, such invalidity shall not affect the
validity or enforceability of any other provision of this Lease Agreement.
Lessee shall not assign this Lease Agreement or its interest in the Equipment without the prior
written consent of Lessor.
Headings used in this Lease Agreement are provided for convenience only and shall not be used
to construe meaning or intent.
19. Governing law
This Lease Agreement shall be governed, construed, and interpreted by, through, and under the
laws of the State of Alaska.
IN WITNESS WHEREOF, the said parties hereto have hereunto set their hands and seals as of
the date first here above written
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Name of Lessor
Name of Lessee
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[Instruction: Insert description of equipment to be leased]
S.No Manufacturer Model Quantity Serial Number
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[Instruction: Insert Term and payment plan]
Term and Payment
Number of Rental Lease term Payable End of lease
amount + in months provision
S.NO payment applicant __________ Monthly
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