This Equipment Rental Agreement (the “Agreement”) is made and entered on DATE (the “Effective
Date”) by and between (the “Lessor”) legally conducting business within the State of
; and ] (the “Lessee”); collectively referred to herein as the “Parties.”
1. EQUIPMENT SUBJECT TO LEASE. The Lessor shall rent the equipment listed herein to the
Lessee whom must adhere to the terms and conditions within this Agreement.
DESCRIPTION OF EQUIPMENT TO BE LEASED
2. PAYMENT TERMS. The rental fee is based on a rate of WRITTEN DOLLAR AMOUNT dollars
($NUMERICAL DOLLAR AMOUNT) per day, plus any additional fees incurred. Additional
charges shall be added in the event the equipment is damaged, missing any parts, or
returned later than DATE AND TIME. All charges shall commence from the Effective Date of
this Agreement. Lessee shall pay to the Lessor an additional service charge of WRITTEN
DOLLAR AMOUNT dollars ($NUMERICAL DOLLAR AMOUNT) per day for each day the
equipment has not been returned, in addition to the daily rental fee. Lessor shall invoice the
client on a TIME PERIOD basis and all invoices are due upon receipt.
3. RETURNED CHECKS. The Lessee shall be charged WRITTEN DOLLAR AMOUNT dollars
($NUMERICAL DOLLAR AMOUNT) for each check that is returned to the Lessor for
insufficient funds.
4. SECURITY DEPOSIT. In addition to the rental fee, the Lessee shall pay a security deposit of
WRITTEN DOLLAR AMOUNT dollars ($NUMERICAL DOLLAR AMOUNT) prior to receiving any
equipment and at the time this Agreement is signed. This deposit shall be returned to the
Lessee upon termination of this Agreement, subject to the option of the Lessor to apply it
against any charges or damages incurred. Any amounts refundable to the Lessee shall be
paid at the time this Equipment Rental Agreement is terminated. The security deposit shall
bear interest at an annual rate of PERCENTAGE RATE% from the date paid to the Lessor until
the date refunded, based on the total amount of the security deposit.
5. LEASE TERM. This Equipment Rental Agreement shall begin on the above Effective Date and
shall terminate on DATE, unless otherwise terminated in a manner consistent within these
terms. At the end of the Lease term, the Lessee shall be obligated to return the equipment
to the Lessor at the Lessee’s expense.
6. LOCATION. The equipment shall be located at CUSTOMER ADDRESS during the term of this
Agreement, and shall not be removed from that location without the Lessor’s prior written
consent.
7. CARE AND OPERATION. The equipment may only be used and operated in a careful and
proper manner. 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. INSURANCE. The Lessee shall insure the equipment in an amount of at least WRITTEN
DOLLAR AMOUNT dollars ($NUMERICAL DOLLAR AMOUNT).
9. TAXES & FEES. During the term of this Equipment Rental Agreement, the Lessee shall pay all
applicable taxes, assessments, and license and registration fees on the equipment.
10. ALTERATIONS. Lessee shall make no alterations to the equipment without prior written
consent of the Lessor. All alterations shall be property of the Lessor and subject to the term
within. Lessor shall have the right to inspect the equipment during Lessee’s normal business
hours upon request.
11. MAINTENANCE AND REPAIR. The Lessee shall maintain at the Lessee’s cost, the equipment
in good repair and operating condition, allowing for reasonable wear and tear. Such costs
shall include labor, material, parts, and similar items.
12. OPTION TO RENEW. If the Lessee is not in default upon the expiration of this lease, the
Lessee shall the option to renew this Lease for a similar term on such terms as the Parties
agree upon.
13. DEFAULT. The occurrence of any of the following shall constitute a default under this
Agreement:
a. The failure to make a required payment under this Agreement when due.
b. The violation of any other provision or requirement that is not corrected within
TIME FRAME day(s) after written notice of the violation is given.
c. The insolvency or bankruptcy of the Lessee.
18. WAIVER. Either party’s failure to insist upon strict performance of any provision
of this Agreement shall not be construed as a waiver of that or any other of its rights
hereunder at any later date or time.
19. FORCE MAJEURE. With the exception of any payment obligations, neither Party
shall be liable for failing to perform its obligations hereunder (other than payment
obligations) were delayed or hindered by war, riots, embargoes, strikes or acts of its
vendors or suppliers, accidents, acts of God, or any other event beyond its
reasonable control.
20. SURVIVAL. All terms and provisions of this Agreement that should by their
nature survive the termination shall so survive.
21. ENTIRE AGREEMENT. This Agreement, including any exhibits attached hereto
and made part hereof, constitutes the entire agreement between Lessor and Lessee
with respect of the subject matter hereof. This Agreement supersedes any prior
agreements, representations, or dealings between the Parties.
IN WITNESS WHEREOF, the Parties hereto have executed this Equipment Rental
Agreement by a duly authorized representative effective as of the date set forth at
the top of this Agreement.
