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Equipment Lease Agreement 3

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Equipment Lease Agreement 3 Page 2
Equipment Lease Agreement 3
Revised 05/10
2. If the Equipment fails to conform to the requirements of this Agreement, including, but not limited to,
the specifications of the Invitation to Bid/Request for Quotation and the representations contained in the
bid of the Lessor, the Equipment may be rejected.
3. The Lessor shall provide the State operator with adequate instructional service in the operation of
d) Alterations and Modifications
Any alterations or modifications to the Equipment may be made only upon approval by the Lessor,
which approval shall not be unreasonably withheld. The State agrees to remove any alteration or
attachment and to restore the Equipment to its normal, unaltered condition, ordinary wear and tear
excepted, prior to its return to Lessor, or upon notice from the Lessor that the alteration or attachment
creates a safety hazard or renders maintenance of the Equipment impractical.
e) Insurance
Lessor shall maintain such insurance on the Equipment as it may be deem necessary to protect its
interest therein. The State will not carry insurance on the Equipment.
f) Possession and Enjoyment
The Lessor hereby covenants to provide the State during the term of this Agreement with the quiet use
and enjoyment of the Equipment, and the State shall, during the term of this Agreement, peacefully and
quietly have and hold and enjoy the Equipment, without suit, trouble or hindrance, except as expressly
set forth in this Agreement.
g) Option To Purchase
Title to the Equipment will pass to the State upon notification to the Lessor of the State’s intent to exercise
its purchase option. When the State exercises the option to purchase granted under the Invitation to
Bid/Request for Quotation, lease payments shall cease when the State gives the Lessor notice of its
exercise of the option.
The purchase options(s) are as follows .
2. Maintenance of Equipment
a) The Lessor shall keep the Equipment in good operating condition and shall advise the State of the
preventative maintenance schedule, which shall be during the State’s normal business hours at a time
mutually agreeable to the parties. For this purpose, the Lessor shall have full and free access to the
Equipment subject to the security policies and procedures of the State. Maintenance of the Equipment
shall be provided on an “on call” basis. The Lessor must respond within twenty-four (24) hours of
placement of service call unless provided otherwise in the bid/quotation documents.
b) All repairs or remedial maintenance will be performed promptly after notification of malfunction. Lessor
shall provide the State with a designated person or place to contract and shall make arrangements to enable
its maintenance personnel or representatives to receive such notification promptly. Should a specific
response time be required, either in the specifications listed in the Invitation to Bid/Request for Quotation
or in the form of an addendum to this Agreement, the Lessor shall respond within said period.
c) There will be no charge for travel expenses associated with maintenance service under this Agreement.
Equipment Lease Agreement 3