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Quebec Vehicle Lease Agreement Form

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Quebec Vehicle Lease Agreement Form Page 3
Quebec Vehicle Lease Agreement Form
15. SCHEDULED TERMINATION
The present Lease ends thirty (30)days after the last scheduled Monthly Payment.
a) If you purchase the vehicle at Lease maturity, and you are not in default, you must pay us the
price of the Option to Purchase in Section 6 plus applicable taxes, fees, and all costs related to the
registration, transfer of ownership and certification of the vehicle.
b) If you do not purchase the vehicle at Lease maturity, and you are not in default, you must return
the vehicle to the Dealer or a place specified by us. Upon return of the vehicle, you will pay us:
1) any excess kilometers charge as outlined in Section 7,
2) the cost of any maintenance and repairs necessary (whether or not they are made) to put the
vechicle in good operating condition and to comply with the provincial safety laws or needed
due to excess wear and tear, plus any applicable taxes,
3) any official fees and taxes imposed in connection with the termination of the Lease, and
4) any accumulated late charges as outlined in Section 25.
16. EARLY TERMINATION
a) If you wish to purchase the vehicle prior to Lease maturity, and you are not in default, you may
do so without penalty at any time. In order to purchase the vehicle you must pay: (i) the remaining
Monthly Payments, (ii) PLUS any other amounts due under this Lease, (iii) PLUS the Option to
Purchase price in Section 6, (iv) MINUS the unearned Lease Charges, (v) MINUS any portion of the
Security Deposit remaining after deductions permitted by this Lease (if any) and (vi) PLUS applicable
taxes, fees and costs related to the registration, transfer of ownership and certification of the vehicle.
b) If you wish to terminate this Lease prior to maturity and you do not purchase the vehicle,
you must return the vehicle to the Dealer or a place specified by us and pay us any damages which
result, directly and immediately, from such early termination of this Lease. We will sell the vehicle at
wholesale in a commercially reasonable manner and the net proceeds of sale will be applied to the
amount you owe at the time of the rescission of the Lease.
17. FINES, LIENS AND ENCUMBRANCES
You agree to keep the vehicle free of all seizures, confiscations, priorities, liens, charges, hypothecs and
encumbrances. If you do not promptly pay any fines against or on the vehicle or obtain mainlevée of any
seizures, confiscations, priorities, liens, charges, hypothecs or encumbrances, we may do so and you will
be charged for same.
18. INDEMNITY AGREEMENT
Subject to any restriction imposed by law, you assume all liability for, and will indemnify us, the Dealer and
our respective assigns, from any loss or damage to the vehicle and all claims, losses and costs related to
the use, operation, maintenance or condition of the vehicle. You further agree that your obligation under
this Section 18 will remain in effect if the Lease is cancelled, rescinded or terminated, or the vehicle is
repossessed or sold.
19. CHANGE OF ADDRESS
You agree to immediately notify us in writing of any change of address.
20. REGISTRATION
During the term of this Lease you agree to register the vehicle in the name of Honda Canada Finance Inc.
21. CONTRACT OF LEASE
This Lease contains the entire agreement between you and us and may not be amended in any way. If any
portion of this Lease is ruled invalid, it will not affect the other provisions of this Lease.
22. SOLIDARITY
If one or more Co-Lessee(s) signed this Lease, he/they will be solidarily liable with the Lessee for the perfor-
mance of all the obligations of this Lease.
23. ASSIGNMENT OF LEASE
You agree not to transfer, sublease, rent or assign this Lease, the vehicle or your right to use the vehicle without
(a) our prior written consent, and (b) payment to us of the applicable assignment fee, if any. Notwithstanding
the foregoing, you may not transfer, sublease, rent or assign this Lease, the vehicle described herein or your
right to use the vehicle within the last six (6) months of the term of this Lease. You understand that this
Lease and the vehicle will be assigned by the Dealer to HCFI. You agree that we may assign this Lease without
your consent, and, as per the terms of the acknowledgement and consent of the credit application already
signed, we are authorized to disclose personal information required for the purposes of any subsequent
assignment including ensuring that the assignee has the information and documentation required for the
administration of this Lease and for the purposes of effectively excercising its rights hereunder. You agree to
make all payments under this Lease to HCFI. Subject to any restriction imposed by law, you agree that we are
not responsible for the performance of any dealer services.
24. TOTAL LOSS OF VEHICLE
In the event of a total loss insurance situation (i.e. the vehicle is stolen and not recovered or destroyed
beyond repair), there may be a difference between your contractual obligation under this Lease (including
the value of the Option to Purchase) and the amount of the automobile insurance settlement. Provided
insurance coverage is maintained as in Section 8 and you are not in default under this Lease as noted in
Section 26 or otherwise, automatic GAP PROTECTION will cover the deficiency in such a situation.
GAP PROTECTION will not cover past due payments, insurance deductibles, late charges, fines or any
other miscellaneous fees, which are strictly your responsibility. GAP PROTECTION does not apply to
early terminated leases with excess kilometers.
25. LATE CHARGE
Subject to applicable legislation, if any amount, including any termination liability owing under Section 16
or Section 24, remains unpaid after its due date, you will pay per diem interest on the unpaid amount at
the interest rate of 12%per annum. Subject to applicable law, you will pay to us an additional service
charge of $25 (plus applicable taxes) for each pre-authorized debit or cheque returned unpaid for any
reason. This payment is due and payable immediately.
26. DEFAULT
Subject to applicable law, you will be in default under this Lease if:
a) You do not make a payment when it is due;
b) You provided false or misleading information in your credit application;
c) You fail to comply with any other agreements in this Lease;
d) A proceeding in bankruptcy, receivership, or insolvency, is started by you or against you or your
property or any of your creditors seize any of your property;
e) You fail to comply with the insurance requirements of this Lease (Section 8);
f) If you or persons you allow to operate the vehicle have a suspended driver’s licence which
contravenes the applicable provincial legislation;
g) The vehicle is garaged (or is about to be exported) outside Canada without our prior written consent;
h) You do not repair or maintain the vehicle as is required under this Lease;
i) The vehicle is lost, abandoned, seized, confiscated, stolen or destroyed; or
j) You sell, transfer, sublease, rent or assign in any way this Lease or the vehicle.
27. LAW
This Lease will be governed by the laws of the Province of Québec.
SECTIONS 28 AND 29 APPLY ONLY TO CONSUMERS.
28. STATUTORY REQUIREMENTS
“Clauses required under the Consumer Protection Act.
(Long-term contract of lease)
The consumer has no right of ownership in the goods leased.
The merchant shall assume the risk of loss or deterioration by fortuitous event of the
goods forming the object of this contract except where the consumer withholds the
goods without right or, where such is the case, after ownership of the goods has been
transferred to him by the merchant.
The consumer benefits from the same warranties respecting the leased goods as a con-
sumer owning such goods.
Where the consumer is in default to perform his obligation in the manner prescribed in
this contract, the merchant may:
a) either exact immediate payment of that which is due;
b) or retake possession of the goods forming the object of the contract.
Before retaking possession of the goods, the merchant must give the consumer a notice
in writing of thirty (30) days, during which time the consumer may, as he chooses:
a) remedy the fact that he is in default;
b) return the goods to the merchant.
The consumer may also return the goods to the merchant at any time during the leasing
period even if he has not received a notice of repossession.
If the consumer returns the goods to the merchant, the contract is rescinded of right. In
such a case, the merchant is not bound to return to the consumer the amount of the
payments due he has already received, and he cannot claim any damages other than
those actually resulting, directly and immediately, from the rescission of the contract.
The merchant is bound to minimize his damages.
(Insurance)
Before entering into this contract, the merchant requires the consumer to hold a com-
prehensive automobile insurance policy.
A consumer may meet that requirement:
a) either by subscribing to an insurance policy with an insurer recommended to him
by the merchant;
b) or by subscribing to an insurance policy equivalent to that required by the merchant
with an insurer chosen by the consumer;
c) or with an insurance policy he already holds.
It is in the consumer’s interest to refer to sections 111, 112, 116, 150.10, 150.11
and 150.13 to 150.17 of the Consumer Protection Act (R.S.Q., c. P- 40.1) and,
where necessary, to communicate with the Office de la protection du consommateur.”
29. FORFEITURE OF BENEFIT OF THE TERM
If you are in default of any obligation under this Lease, such as the payment of Monthly Payments when
due, we may claim from you all overdue Monthly Payments as well as all the Monthly Payments not yet due
under this Lease, plus the value of the Option to Purchase as set out in Section 6 of this Lease, after
having sent the appropriate notice as required by law.
“Clause required under the Consumer Protection Act.
(Contract other than a contract of credit that contains a clause of forfeiture of benefit
of the term)
Before availing himself of this clause, the merchant must forward the consumer a
notice in writing and a statement of account.
Within thirty (30) days following the receipt by the consumer of the notice and the
statement of account, the consumer may:
a) either remedy the fact that he is in default;
b) or present a motion to the court to have the terms and conditions of payment
prescribed in this contract changed;
c) or present a motion to the court to obtain permission to return the goods forming
the object of this contract to the merchant.
If the consumer returns the goods to the merchant with the permission of the court,
his obligation under this contract is extinguished and the merchant is not bound to
return to him the payments he has received from him.
It is in the consumer’s interest to refer to sections 14, 104 to 110 of the Consumer
Protection Act (R.S.Q., c. P- 40.1) and, where necessary, to communicate with the
Office de la protection du consommateur.”
SECTION 30 APPLIES ONLY TO NON-CONSUMERS
30. RECOURSES
If you are in default under this Lease, you acknowledge that we may do any or all of the following without
giving you advance notice, other than any notice which may be required by applicable laws:
a) take any reasonable measures designed to either correct the default or to save us from loss in which
case you will pay us upon request the cost and expenses incurred;
b) terminate this Lease and your right to possess and use the vehicle;
c) take possession of the vehicle by any method or manner permitted by law;
d) claim all unpaid and future Monthly Payments plus the price of the Option to Purchase (section 6 of
this Lease);
e) claim the amount you will owe as a result of the rescission of this Lease, such amount will be equal
to the difference between the amount calculated in accordance with Section 16 (a) and the net
amount received from the sale of the vehicle at wholesale in a commercially reasonable manner. You
must also pay any other amount you owe under this Lease;
f) apply your Security Deposit to any amounts you owe; and
g) pursue any other remedy permitted by law.
You also agree to reimburse us of all our collection expenses, including our judicial and extrajudicial costs.
ACKNOWLEDGEMENT:
It is the express wish of the parties that this Lease and any related documents be drawn up and executed in English. Les parties ont expressément exigé que le présent bail et tous les documents s’y rattachant
soient rédigés en anglais.
Authorized Signatory of Dealer: Name and Title of Authorized Signatory:
You acknowledge that the information supplied in the credit application relating to this Lease was provided to induce the Dealer to enter into, and HCFI to purchase this Lease. Your represent and warrant that
the information contained therein and herein is true, complete and accurate.
You have reviewed a copy of this Lease and signed this Lease and received a signed copy of this Lease at __________________________________________ on ____________________________________________.
LESSEE’S SIGNATURE: Name and Title of Authorized Signatory
(If not an individual):
CO-LESSEE’S SIGNATURE: Name and Title of Authorized Signatory
(If not an individual):
CO-LESSEE’S SIGNATURE: Name and Title of Authorized Signatory
(If not an individual):
ASSIGNMENT:
For value received, the Dealer hereby sells, assigns and transfers to HCFI all of its right, title
and interest in the Lease and the vehicle described herein.
Authorized Signatory of Dealer: _____________________________________________________
Name and Title of Authorized Signatory: _____________________________________________
Date: ____________________________________________________________________________
HCFI (06/04) VLA 1012-E PQ
(Place) (Date)
HONDA CANADA FINANCE INC.
GST Number: 10239 0580 RT000
QST Number: 1144352573
Licence Number: 67928
1750 Eiffel Street, Boucherville, Quebec J4B 7W1
134497E.qxd 6/16/04 2:50 PM Page 3
Quebec Vehicle Lease Agreement Form
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