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Equipment Lease Agreement

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An Equipment Lease Agreement is an agreement between two parties whereby one party wishes to rent equipment which is owned by the other for a specific period of time and consideration. The form allows the parties to describe the equipment being leased and send the lease term and rental payment amounts. As drafted the agreement requires the lessee, the party leasing the equipment, to maintain the equipment in a state of good repair. This document is useful to a company seeking to lease equipment rather than buying needed equipment.

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