Lease agreement. Includes terms for which party: pays set-up costs, pays insurance, is responsible for maintenance. Also includes option for customer to purchase leased equipment.
Enter the name of the LEASING COMPANY, referred to as LEASING COMPANY and Enter the name of the CUSTOMER, referred to as CUSTOMER, agree:
CUSTOMER shall lease from LEASING COMPANY the following items:
Enter description of leased items
LEASING COMPANY shall purchase the items set forth above as CUSTOMER'S agent. LEASING COMPANY provides no warranty upon the goods, and the sole warranty shall be that offered, if any, by the MANUFACTURERS and sellers of the leased equipment.
The equipment shall be located at:
Enter location for leased items
and may not be moved without prior approval of LEASING COMPANY.
Include the following if the expenses of set up: Will be paid directly by CUSTOMER
All expenses of delivery, set up and taxes of the leased goods shall be paid directly by CUSTOMER to the providers of such services.
Include the following if the expenses of set up: Will be financed by LEASING COMPANY
CUSTOMER may select the providers of delivery and set up of the leased equipment. LEASING COMPANY shall pay these services in an amount not exceeding $ Enter the maximum amount allowed for delivery, (Enter the maximum amount allowed for delivery dollars) and this sum shall be repaid by CUSTOMER under the terms set forth herein.
Include the following if insurance will be: Provided by CUSTOMER at its expense
CUSTOMER shall maintain insurance coverage, at its expense, upon the leased property with broad form coverage through an insurance carrier authorized to transact business in the State of Enter the state where the equipment will be located acceptable to LEASING COMPANY, which approval shall not be unreasonably withheld.
Include the following if insurance will be: Provided through LEASING COMPANY
CUSTOMER shall maintain insurance coverage upon the leased property with broad form coverage through an insurance carrier authorized to transact business in the State of Enter the state where the equipment will be located acceptable to LEASING COMPANY, which approval shall not be unreasonably withheld. It is not required that CUSTOMER obtain insurance through LEASING COMPANY; however, CUSTOMER elects to obtain coverage through the LEASING COMPANY. The premium for the initial period of Enter the number of months term for policy months shall be $ Enter the premium (Enter the premium dollars) to be paid as follows:
Enter the payment terms for the premium
CUSTOMER may obtain future insurance coverage through the agents and company of their choice.
CUSTOMER agrees to pay LEASING COMPANY the total sum of $ Enter the total sum of the lease (Enter the total sum of the lease dollars) in consideration of the lease of the equipment, to be paid in Enter the number of installments installments due every Installments will be due days, with the first payment due on Enter the date when first payment is due.
Upon the failure of CUSTOMER to pay any installment due, or to comply with the provisions of this lease agreement, the LEASING COMPANY may accelerate the payment of all remaining sums due. The CUSTOMER shall pay all taxes and levies upon the equipment.
Upon default the LEASING COMPANY may take possession of the leased items, and may enter the premises of CUSTOMER to do so. Include the following if the customer shall: Have an option to purchase the equipment
CUSTOMER shall have the option to purchase the leased equipment at the conclusion of the term of the lease, provided that all payments have been made, for the sum of $ Enter the option purchase price (Enter the option purchase price dollars). Should CUSTOMER decline to exercise this option, CUSTOMER shall return the equipment, at its expense, to LEASING COMPANY.
Include the following if the customer shall: Shall NOT have an option to purchase the equipment
At the termination of this lease, CUSTOMER shall return the equipment to leasing company, in good condition, ordinary wear and tear excepted. CUSTOMER shall not have an option to purchase the equipment.
Include the following if maintenance is: the responsibility of customer
The customer shall be responsible for all maintenance upon the leased items, and shall keep the equipment in good operating condition.
Include the following if maintenance is: included in lease price and provided by leasing company
Regular maintenance shall be provided by LEASING COMPANY. Maintenance caused by neglect or improper use of the leased items shall be the responsibility of CUSTOMER.
Upon default, CUSTOMER agrees to pay any and all costs of collection including attorney's fees incurred by LEASING COMPANY. CUSTOMER shall not move the leased items without the prior approval of LEASING COMPANY.
CUSTOMER agrees to execute financing statements or other documents reasonably required by LEASING COMPANY.
Enter the name of the LEASING COMPANY
Enter the name of the CUSTOMER