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Equipment Lease Agreement 2


Equipment Lease Agreement 2 Page 2
GENERAL CONDITIONS OF EQUIPMENT RENTAL AGREEMENT (LEASE)
The conditions of lease here below stated, together with the Agreement set forth on the reverse side 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
legal delivery to a public carrier for transit to Lessee and upon return of the equipment, the date of legal delivery by such
carrier to Lessor, or if no public carrier is used, shall include the date upon which transit to Lessee begins and the date upon
which transit from Lessee ends at Lessor’s unloading point.
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 therein stipulated and in accordance with the following:
a) Monthly Rental Rates shall not be subject to any deductions on account of any non-working time in the month. The
amount of rent payable for any fraction of a month at the beginning or end of the Rental Period shall be the monthly
rental rate, prorated according to the number of calendar days in such fraction.
b) Daily Rental Rates shall not be subject to deductions for any non-working time in the day and shall be paid for each
calendar day in the month except Sundays and legal holidays upon which the equipment is not operated. Daily and
monthly rental rates stipulated in the List of Equipment contemplate an operating day of a regular single shift of eight (8)
hours, and for each hour over such eight (8) hours that the equipment is operated these rates shall be increased six (6)
percent of the daily rate throughout such period as the equipment is so operated.
c) Unit of Work Rates shall be paid for each unit of work in which the equipment participates, and the amount of rental
shall, unless otherwise agreed in writing be determined by the number of units shown in the supervising engineer’s or
architect’s estimates.
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 on the first day of each month. Lessee shall pay Lessor interest at twelve percent (12%)
or the highest lawful rate, whichever is greater, on any delinquent payment from the date when such payment was due until
paid and on any other sum for breach of this Agreement, from the date of the breach, and expenses of collection or suit,
including actual attorneys’ fees.
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) FEES, ASSESSMENTS, AND TAXES PAID BY LESSEE. Lessee shall pay all license fees, assessments, and sales, use,
property and excise, and other taxes or hereafter imposed, and relating to Lessee’s use or possession of the equipment.
6) RECALL NOTICE. Lessor may recall any or all equipment upon ten (10) days written notice to Lessee and the Lessee may
return any or all equipment upon a like notice to the Lessor.
7) MAINTENANCE AND OPERATION. Lessee shall not remove, alter, disfigure or cover up any numbering, lettering, or
insignia displayed upon the equipment, and shall see that the equipment is not subjected to careless, unusually or needlessly
rough usage; and Lessee shall at his own expense maintain the equipment and its appurtenances in good repair and operative
condition, and return it in such condition to Lessor, ordinary wear and tear resulting from proper use thereof alone expected.
8) REPAIRS. The expense of all repairs made during the Rental Period, including labor, material, parts and other items shall
be paid by Lessee.
9) OPERATORS. Unless otherwise mutually agreed in writing, Lessee shall supply and pay all operators on the equipment
during the Rental Period. All operators shall be competent. Should Lessor furnish any operators or other workmen for the
equipment, they shall be employees of Lessee during the Rental Period, and Lessee shall pay them salary or wages and all
other applicable costs. Lessee shall provide and pay for all workmen’s compensation insurance and pay all payroll taxes
required by law and applying to such operators and workman.
10) DISCLAIMER OF WARRENTIES. LESSOR, BEING NEITHER THE MANUFACTURER, NOR A SUPPLIER, NOR
A DEALER IN THE EQUIPMENT, MAKES NO WARRENTIES, 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.
11) INDEMNITY. Lessee shall indemnify Lessor against, and hold Lessor harmless from, any and all claims, actions, suits,
proceedings, costs, expenses, damages, and liabilities, including attorneys 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.
Equipment Lease Agreement 2