EQUIPMENT RENTAL AGREEMENT (LEASE)
THIS AGREEMENT, made the day of
, 2021,
by and between
_hereafter called the Lessee, and the Lary
Laud, hereafter called the Lessor and Operator.
Lessee and Lessor, for the consideration hereafter named,
agree as follows:
Under the General Conditions of Lease, Lessor hereby leases to Lessee all
equipment named and identified in the following “List of Equipment,” for use at
such location and at such rental rate for approximately such time as is therein
stated. Lessor shall furnish such equipment, in operative condition.
List of Equipment
Equipment Location of Rental Security Rental Rate
Description Use Period Deposit
Deposit
FARMALL TILLINGCASAMBALANGA 13 HECTARES PHP2,300.0
N 0
ROTOVATOR CASAMBALANGA 13 HECTARES
N PHP2,800.00
Lessor and Lessee, for themselves, their successors, executors, administrators and
assigns, agree to the full performance of the covenants herein contained.
GENERAL CONDITIONS OF EQUIPMENT LEASE
The conditions of lease here below stated, together with the Agreement above of this
sheet, constitute a contract between the parties therein named which contract is
hereafter referred to as “this Agreement”.
1. RENTAL PERIOD. The Rental period shall cover all time consumed in transporting
the equipment, including the date of delivery and the date of return. This Rental
shall begin on the above date and shall terminate on return in fully working
condition to the Lessor. If the equipment has to be repaired to return it to a fully
working state the equipment will continue to be rented until it is repaired. The
Rental period will end on the agreed per hectare.
2. RENTAL CHARGES. Lessee shall pay rental for the entire Rental Period on each
article of equipment named in the List of Equipment, at the rate set forth herein.
3. PAYMENT. The rent for any and every item of equipment described in the List of
Equipment shall be the amount therein designated and is payable in
advance or ( if advance is not selected)
upon the return of the equipment. ???????????????
4. SECURITY DEPOSIT. Any security deposit paid by Lessee to Lessor is paid to
guarantee Lessee’s full and faithful performance of all terms, conditions and
provisions of this Agreement. If Lessee shall so perform, an equal sum shall be
repaid without interest to Lessee at the termination of this Agreement.
5. MAINTENANCE AND OPERATION. Operator shall see that the equipment is not
subjected to careless, unusually or needlessly rough usage; and Operator shall at
Operator’s own expense maintain the equipment and its appurtenances in good
repair and operative condition.
6. REPAIRS. The expense of all repairs made during the Rental Period, including
labor, material, parts and other items shall be included in the Rental Rate.
7. CARE AND OPERATION OF EQUIPMENT. The equipment may only be used and
operated in a careful and proper manner and at the location set forth herein.
Its use must comply with all laws, ordinances, and regulations relating to the
possession, use, or maintenance of the equipment, including registration and/or
licensing requirements, if any.
8. DISCLAIMER OF WARRANTIES. LESSOR, BEING NEITHER THE MANUFACTURER,
NOR A SUPPLIER, NOR A DEALER IN THE EQUIPMENT, MAKES NO WARRANTIES,
EXPRESS OR IMPLIED, AS TO ANY MATTER WHATSOEVER, INCLUDING, WITHOUT
LIMITATION, THE CONDITION OF THE EQUIPMENT, ITS MERCHANTABILITY, ITS
DESIGN, ITS CAPACITY, ITS PERFORMANCE, ITS MATERIAL, ITS WORKMANSHIP, ITS
FITNESS FOR ANY PARTICULAR PURPOSE, OR THAT IT WILL MEET THE
REQUIREMENTS OF ANY LAWS, RULES, SPECIFICATIONS, OR CONTRACTS WHICH
PROVIDE FOR SPECIFIC APPARATUS OR SPECIAL METHODS. LESSOR FURTHER
DISCLAIMS ANY LIABILITY WHATSOEVER FOR LOSS, DAMAGE, OR INJURY TO
LESSEE OR THIRD PARTIES AS A RESULT OF ANY DEFECTS, LATENT OR
OTHERWISE, IN THE EQUIPMENT. AS TO LESSOR, LESSEE LEASES THE EQUIPMENT
“AS IS”. LESSOR SHALL NOT BE LIABLE IN ANY EVENT TO LESSEE FOR ANY LOSS,
DELAY, OR DAMAGE OF ANY KIND OR CHARACTER RESULTING FROM DEFECTS IN,
OR INEFFICIENCY OF, EQUIPMENT HEREBY LEASED OR ACCIDENTAL BREAKAGE
THEREOF.
9. INDEMNITY. Lessee shall indemnify Lessor, and its agents and employees against,
and hold Lessor and its agents and employees harmless from, any and all
claims, actions, suits, proceedings, costs, expenses, damages, and liabilities,
including attorney’s fees, arising out of, connected with, or resulting from the
equipment or the Lease, including without limitation, the manufacture,
selection, delivery, leasing, renting, control, possession, use, operation,
maintenance or return of the equipment. Lessee shall further indemnify Lessor,
and hold Lessor harmless from all loss and damage to the equipment during the
rental period. Lessee recognizes and agrees that included in this indemnity
clause, but not by way of limitation, is Lessee’s assumption of any and all liability
for injury: disability and death of workmen and other persons caused by the
operation, use, control, handling, or transportation of the equipment during the
Rental Period.
10. ASSIGNMENT. The Lessee shall not assign or sublet any interest in this Rental or
the equipment or permit the equipment to be used by anyone other than the
Lessee or Lessee’s employees, without Lessor's prior written consent.
11. ENTIRE AGREEMENT AND MODIFICATION. This contract constitutes the entire
agreement between the parties. No modification or amendment of this contract
shall be effective unless in writing and signed by both parties. This contract
replaces any and all prior agreements between the parties.
12. GOVERNING LAW. This contract shall be construed in accordance with the
Philippine Law.
