Motor Vehicle or Automobile Lease between Individuals by pellcity27

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									              Motor Vehicle or Automobile Lease between Individuals

        This Motor Vehicle Lease, is made on this (date), between (Name of Lessor), of
(street address, city, state, zip code), hereinafter referred to as Lessor, and (Name of
Lessee), of (street address, city, state, zip code), hereinafter referred to as Lessee.

1.    Lessor hereby leases to Lessee, and Lessee hereby leases from Lessor, the
motor Vehicle described as follows

      New or used: (state whether new or used);
      Year and model: (year of Vehicle) and (model of Vehicle);
      Number of cylinders: (number);
      Make or trade name: (make);
      Body type: (body type);
      Model number or series: (number);
      Manufacturer's Serial Number: (number);
      Motor Number: (number).

   Said motor Vehicle is hereinafter referred to as the Vehicle.

2.     Lessee shall pay as lease payments for the Vehicle $_________ per month in
advance on the (number) day of each month during the term of this Lease. All Lease
payments shall be made by Lessee to Lessor at Lessor's address set forth above in this
Lease or to such other person or organization as Lessor shall designate to Lessee in
writing, or as designated in writing to Lessee by an assignee of this Lease pursuant to
Section 15. Lease payments for the first month shall be prorated from the date of
delivery. Interest at ___% may be charged by Lessor on Lease payments not paid when
due.

3.     Security Deposit. Lessee shall deposit with Lessor $__________ as security for
the performance by Lessee of the terms and conditions of this Lease. If Lessee fully
complies with all terms, the deposit shall be refunded to Lessee on termination of the
Lease. Should Lessee fail to comply with any of the terms, such deposit may be applied
by Lessor to payment of the costs and expenses, including attorney's fees, incurred by
Lessor as a result of such default; such deposit, however, shall not be considered as
payment for Lease payments due, nor shall it release Lessee from the obligation to
make such Lease payments or from any of the obligations assumed by Lessee.

3.     Valuation and Depreciation. The agreed value of the Vehicle at the time of its
delivery to Lessee is $__________. Depreciation shall be computed on the basis of
______% per month of the original agreed value from the date of delivery of the Vehicle.

4.     Delivery of Vehicle. Lessor shall use all reasonable diligence to deliver the
Vehicle to Lessee on the execution of this Lease, but shall not be liable to Lessee for
any failure or delay in obtaining the Vehicle or making delivery, if Lessor shall have
exercised reasonable diligence in attempting to make such delivery.
5.    Lessee shall not use or permit the use of the Vehicle in a negligent or improper
manner or in violation of any law, or so as to void any insurance covering the Vehicle, or
as a public or private carrier, or permit the Vehicle to become subject to any lien,
charge, or encumbrance.

6.      Licensing and Registration. The Vehicle subject to this Lease shall bear
license plates and the title shall be registered in the name of Lessor. The annual
registration or license fees shall be paid by Lessee. Unless otherwise specified, Lessor,
where required, shall register the Vehicle in conformance with the laws of (name of
state). Local registration or registration of the Vehicle in other states shall be at the
expense of Lessee.

7.    Obligation to Insure. Insurance covering loss by (e.g., describe insurance
coverage required such as collision, bodily injury, property damage, and maximum
deductible amount) in the amount of $__________ will be maintained by (e.g.,
designate either the Lessee or the Lessor and the name of the insurance company). If
Lessee shall fail to pay for or provide any insurance specified as the responsibility of
Lessee, Lessor at his option may pay for such insurance and add the amount paid to
the next monthly Lease payment due from Lessee. Lessee will promptly notify Lessor of
any accident or incident that may result in an insurance claim.

8.     Maintenance and Repairs. Unless otherwise agreed in writing by the parties, all
service, materials, and repairs in connection with the use and operation of the Vehicle
during the term of this Lease, including but not limited to gasoline, oil, batteries, repairs,
maintenance, tires, and towing necessary for its proper use and operation, shall be at
expense of Lessee. Lessee agrees to maintain the Vehicle in accordance with all
service intervals recommended by the manufacturer of the Vehicle. Lessee shall take
the Vehicle to the appropriate factory-authorized dealer for all service and repairs under
the manufacturer's warranty. Lessor shall not be liable for repairs, nor shall any such
repairs be charged to Lessor.

9.     Miscellaneous Charges. Lessee agrees to pay all storage charges, parking
charges, and fines incurred in connection with the Vehicle. Lessee will pay any fees
(including vehicle registration and inspection fees) or taxes that may be imposed with
respect to the Vehicle by any constituted governmental authority as the result of
Lessee's use or intended use of the Vehicle.

10.    Risk of Loss and Damage. Lessee shall bear all risks of damage to or loss of
the Vehicle, or any portions of the Vehicle, not covered by insurance. All replacements,
repairs, or substitutions of parts or equipment shall be at the cost and expense of
Lessee and shall be accessions to the Vehicle. Lessee, at all times and at Lessee's
expense, shall keep the Vehicle in good working order, condition, and repair,
reasonable wear and tear excepted. The Lease payments on the Vehicle shall not be
prorated or abated while it is being serviced or repaired.

11.    Indemnity of Lessor. Lessee agrees to indemnify Lessor against all claims,
losses, causes of action, and expenses, including attorney fees and legal expenses,
arising from the use, maintenance, and operation of the Vehicle.

12.     Termination of Lease. This Lease will terminate on (date), or at any time after
the first (number) months of the term, provided Lessee has given Lessor (number) days'
advance notice in writing of intent to terminate and is not in default. On return of the
Vehicle at the place and in the condition specified in Section 14, Lessor and Lessee will
agree as to its then present value; if Lessor and Lessee cannot so agree within
(number) days after the return of the Vehicle, then the issue of present valuation shall
be determined by Arbitration as set forth in Section 16 below. Should the total of the
then present value be more than the depreciated value (as defined in this Lease), then
such excess, less ____% of the agreed value, shall be paid to Lessee. If it be less than
the depreciated value, then Lessee will pay the difference to Lessor, plus ____% of the
agreed value. Depreciated valu
								
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