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Agreement to Lease Equipment - Warranty

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Agreement to Lease Equipment - Warranty Powered By Docstoc
					This is an agreement to lease equipment pursuant to the specific terms and conditions
as negotiated by the parties. This agreement contains indemnification, rent, and
disclaimer clauses and also contains a warranty as to the equipment. This long-form
document contains both standard clauses and opportunities for the use of optional
terms and conditions making it fully customizable to fit the needs of the contracting
parties. This form is useful to individuals or businesses seeking to lease equipment with
a warranty.
                AGREEMENT TO LEASE EQUIPMENT (WITH WARRANTY)

THIS AGREEMENT TO LEASE EQUIPMENT ("Lease Agreement") is made and effective
on       ______     [Month]      ____      [Date],     20____     [Year],        by    and       between
_____________________________ [Instruction: Insert the name of the person owning the
equipment/lessor], located at __________________________________________ [Instruction:
Insert    the     address   of   the    Lessor]   (hereinafter   referred   to    as   "Lessor")    and
_______________________________ [Instruction: Insert the name of Lessee], located at
__________________________________ [Instruction: Insert the address of the Lessee]
(hereinafter referred to as "Lessee"). Lessor and Lessee may be individually referred to as
“Party” and collectively as “Parties”.

WHEREAS, the Lessor is the sole owner of that certain equipment describe in Exhibit A;

WHEREAS, the 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
     The Lessor agrees to lease to the Lessee, and the Lessee agrees to lease and rent from the
     Lessor, the equipment more fully described in Exhibit A, (the “Equipment”), on the terms
     and conditions of this Agreement.

2. Term and Payment
     See the attached Exhibit B.

3. Shipping [Instruction: choose any one clause from below]
     Lessee shall be responsible for shipping the Equipment to Lessee's premises.

                                                  OR

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



© Copyright 2012 Docstoc Inc.                                                                2
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. Disclaimer of Warranties and Claims; Limitation of Remedies
    LESSOR, NOT BEING THE MANUFACTURER OF THE EQUIPMENT NOR THE
    MANUFACTURER'S AGENT, MAKES NO EXPRESS OR IMPLIED WARRANTY OF
    ANY KIND WHATSOEVER WITH RESPECT TO THE EQUIPMENT, INCLUDING,
    BUT NOT LIMITED TO, THE MERCHANTABILITY OF THE EQUIPMENT OR ITS
    FITNESS FOR ANY PARTICULAR PURPOSE; THE DESIGN OR CONDITION OF THE
    EQUIPMENT; THE QUALITY OR CAPACITY OF THE EQUIPMENT; THE
    WORKMANSHIP IN THE EQUIPMENT; COMPLIANCE OF THE EQUIPMENT WITH
    THE REQUIREMENT OF ANY LAW, RULE, SPECIFICATION, OR CONTRACT
    PERTAINING THERETO; PATENT INFRINGEMENT; OR LATENT DEFECTS.
    LESSEE LEASES THE EQUIPMENT "AS IS" AND WITH ALL FAULTS. Lessee
    accordingly agrees not to assert any claim whatsoever against Lessor for loss of anticipatory
    profits or consequential damages. Lessor shall have no obligation to install, erect, test,
    service, or maintain the Equipment. Lessee shall look to the manufacturer and/or seller for
    any claims related to the Equipment.

    IF THE EQUIPMENT IS NOT PROPERLY INSTALLED, DOES NOT OPERATE AS
    REPRESENTED OR WARRANTED BY THE SUPPLIER OR MANUFACTURER, OR IS
    UNSATISFACTORY              FOR   ANY   REASON,      REGARDLESS         OF    CAUSE      OR
    CONSEQUENCE, LESSEE'S ONLY REMEDY, IF ANY, SHALL BE AGAINST THE
    SUPPLIER OR MANUFACTURER OF THE EQUIPMENT AND NOT AGAINST
    LESSOR.

    LESSOR HEREBY ACKNOWLEDGES THAT ANY MANUFACTURER'S AND/OR
    SELLER'S WARRANTIES ARE FOR THE BENEFIT OF BOTH LESSOR AND LESSEE.
    NOTWITHSTANDING THE FOREGOING, LESSEE'S OBLIGATIONS TO PAY THE


© Copyright 2012 Docstoc Inc.                                                        3
    RENTALS OR OTHERWISE UNDER THIS LEASE SHALL BE AND ARE ABSOLUTE
    AND UNCONDITIONAL. TO THE EXTENT PERMITTED BY THE MANUFACTURER
    OR SELLER, AND PROVIDED LESSEE IS NOT IN DEFAULT UNDER THIS LEASE,
    LESSOR SHALL MAKE AVAILABLE TO LESSEE ALL MANUFACTURER AND/OR
    SELLER WARRANTIES WITH RESPECT TO EQUIPMENT.

6. 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. The Equipment
    shall remain personal property even if installed in or attached to real property.

7. Surrender
    Lessee acquires no ownership rights in the Equipment and has no option to purchase the
    same. Upon the expiration or termination of this Lease Agreement, or in the event of a
    default pursuant to Paragraph 12 hereof, 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, packed and ready for shipment, to such place
    or carrier as Lessor may specify.

8. 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 Equipme
				
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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 indemnification, rent, and disclaimer clauses and also contains a warranty as to the equipment. This long-form document contains both standard clauses and opportunities for the use of optional terms and conditions making it fully customizable to fit the needs of the contracting parties. This form is useful to individuals or businesses seeking to lease equipment with a warranty.