%%STATE%% Agreement to Lease Equipment - Without Warranty

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%%STATE%% Agreement to Lease Equipment - Without Warranty Powered By Docstoc
					Agreement to Lease
                                                            Equipment
                                                            (Without Warranty)
ocstoc Legal Agreements




                                  This agreement to lease equipment can be used if you wish to lease
                                  equipment without any warranty. However, this agreement is intended
                                  to provide proper protection through indemnification, rent, and
                                  disclaimer clauses. If there is warranty for the equipment, please do
                                  not use this document, rather Agreement to Lease Equipment (with
                                  warranty) is preferred. Please consult a state attorney if equipment
                                  relates to vehicle or medical and amend this agreement accordingly.



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                                                                                           Attorney Drafted
                          © Copyright 2011 Docstoc Inc. registered document proprietary, copy not                              1
            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:

1. Lease

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
Agreement.

2. Term and Payment

See the attached Exhibit B.

3. Shipping

Lessee shall be responsible for shipping the Equipment to Lessee's premises.

4. Use

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
Lessor.

5. Ownership

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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6. Surrender

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
may specify.

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
Agreement.

In the event of loss or damage of any kind whatsoever to the Equipment, Lessee shall, at Lessor's
option:

    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.

8. Insurance

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
Agreement.



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9. Taxes

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.

10. Indemnity

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.

11. Default.

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
       thereof; or

    b) Lessee shall fail to observe, keep, or perform any other provision of this Lease
       Agreement; or

    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
       Equipment.

12. Remedies

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.

13. Modification

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.

14. Notice

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

______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
__________________________.

16. Validity

 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.

17. Assignment

Lessee shall not assign this Lease Agreement or its interest in the Equipment without the prior
written consent of Lessor.

18. Headings

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 California.




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IN WITNESS WHEREOF, the said parties hereto have hereunto set their hands and seals as of
the date first here above written

______________________________________________

                          [Lessor] Signature

______________________________________________

                          Name of Lessor

______________________________________________

                           [Lessee] Signature

______________________________________________

                            Name of Lessee




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                                                  EXHIBIT A

                     [Instruction: Insert description of equipment to be leased]


                                      EQUIPMENT DESCRIPTION


S.No       Manufacturer                    Model                       Quantity   Serial Number




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                                                  EXHIBIT B

                             [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
                                taxes
                                                                __________ Quarterly

                                                                __________ Others




© Copyright 2011 Docstoc, Inc. registered document proprietary, copy not                  9
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© Copyright 2011 Docstoc, Inc. registered document proprietary, copy not                            10
				
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Description: 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 %%STATE%% seeking to lease equipment without a warranty and can be customized to fit the needs of the drafting parties.
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