OFFER TO PART BOARD BY LEASE
This agreement entered into on the ___ day of _________ 200__ between the Parties@ identified as ____________________ (the ”Owner@) and ______________ (the ”Lessee@). The Owner hereby agrees to lease to the Lessee in the form of this “Part Boarding Agreement”, for the purposes of pleasure riding, the horse identified as follows:
Insert description of horse (name, marks, size, registration numbers, and/or photo)
In exchange for the use of the horse for pleasure riding, the Lessee does hereby agree to assume all responsibilities for the horse and to pay all normal and necessary expenses for the care of said gelding/mare consistent with the practices of good animal husbandry, unless the Owner has explicitly excluded these costs in the list appended to this agreement. All decisions with respect to the care of the horse shall be the made by the Owner’s agent, _________, and shall include as a minimum the following: Boarding at the place specified by the Owner. Health care by the Owner’s approved Veterinarian. Services of the Owner’s approved Ferrier.
In the event of any disagreement or dispute with respect to the care of the horse, the Owner and the Lessee agree to accept the recommendation of the horse’s veterinarian, as specified by the Owner, whose decision shall be final and binding on both parties. During the period of the lease, the Lessee will be responsible for the payment of all insurance premiums, as specified by the Owner, including as a minimum comprehensive public liability, full mortality (in an amount not less than the full value of the horse $____________ and not exceeding the appraised value of the horse); full surgical care as may be required at the University of Guelph, or other designated places (including colic); and any specialized insurance related to the riding, showing or transportation of the horse. The term of this lease shall be for the period of time specified under the payment conditions of this Part Boarding Agreement. If at any time the Lessee is in default of any expense or board payments, the Owner has the sole right to cancel the lease and purchase, and to retain all expense and capital payments made of that date. The principal payments under the lease with option agreement are as follows: Annual Fixed Part Board Fee to be paid annually on renewal of lease of $___________ Monthly Payment $ __________ to be paid on the _____ day of each month Final payment of $ __________ to be paid if lease is terminated prematurely
If the Lessee and the Owner agree at some time to extend this agreement, such that it becomes a “Lease to Purchase Agreement”, then a new agreement will be executed by the Parties in that form. At not time will the Lessee attain any title and/or Ownership of the horse under the terms of this lease agreement. If for any reason the Lessee is in default of the terms of this agreement, the Owner retains the right to cancel the agreement forthwith at which time the Lessee will pay the Final Payment amount as specified above. The Lessee surrenders any claim to any payments made prior to the date of cancellation of the agreement. The Lessee will ensure that the horse is not exposed to any unnecessary risk during the period of the lease and the Lessee and Owner acknowledge that there is limited risk to the horse, as it is to be used for pleasure riding only. In the event the Lessee wishes to use the horse for any other purpose (e.g. show jumping, etc.), the Lessee must first obtain permission from the Owner, in writing, and acknowledge and assume all additional inherent risks
Offer to Lease with Purchase Option
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The Owner shall not hold the Lessee liable for any serious injury or death to the horse arising form the normal sequence of events in the pleasure riding process, provided that all reasonable care has been provided, such that there is no negligence on the part of the Lessee and that all recommendations of the veterinarian have been followed. The Lessee shall not hold the Owner responsible for any injury to person or damages to any property caused by the horse during the period of this lease. The Owner shall have full right of access to the horse, at any reasonable time, for the purposes of visitation, grooming and/or inspection. The Lessee also acknowledges that the Owner retains the right to ride the horse, as per a mutually agreeable schedule (delete if not applicable). During the terms of this lease period the horse will remain on the property of _____________, in the Regional Municipality / City / Town of __________, unless agreement to relocate the horse is approved by the Owner and in writing. Any rights to Sub-Lease under this agreement, or any rights to allow others to ride or care for the horse, remain the exclusive right of the Owner. In the event that the Lessee wishes to issue riding or care giving rights to others under this agreement, they must first obtain agreement with the Owner’s agent. No modification of this lease, inclusive of all terms of use, shall be binding on any of the parties unless it is agreed to in writing and executed by both parties. Such notification may be made by electronic means such as telefax or e-mail, or other such means approved by an amendment to this agreement. In the event of any disagreement or dispute that relate to this agreement, the parties will endeavour to negotiate a reasonable resolution to the dispute and where necessary will agree to facilitation of the dispute by a mutually agreeable third party. If an agreement cannot be reached through this process, the parties agree to settle any dispute through the process of mediation and/or arbitration, with the selection of a mediator or arbitrator from the ADR Institute of Canada Inc. Any mediation or arbitration will be conducted in accordance with the applicable Acts of the Province of Ontario. This agreement is subject to the laws of the Province of Ontario. The undersigned Owner and Lessee hereby accept the terms and conditions of this lease, as executed in the Town of _________, Regional Municipality of __________, in the Province of Ontario, this _____ day of October in the year ________.
________________________________________ Owner: xxxxxxxxxxxxx
________________________________________ Lessee: xxxxxxxxxxxxxxx
Offer to Lease with Purchase Option
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