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Vehicle Lease Agreement 2


Vehicle Lease Agreement 2
Vehicle Lease Agreement 2
Rev. 4/11
VEHICLE LEASE AGREEMENT
This lease, made and entered into this day of , 20__, between
, hereinafter referred to as
“Lessor”, and , hereinafter
referred to as “Lessee.” This agreement is a subcontract of the agreement(s) between
the North Carolina Department of Transportation (NCDoT) and the Lessor. All other
provisions contained in the agreement(s) between the North Carolina Department of
Transportation and the Lessor, the Federal Transit Administration (FTA) Master
Agreement (16) dated October 1, 2009, the State Management Plan for Federal and
State Transportation Programs, and any subsequent amendments or revisions thereto,
are herein incorporated by reference.
WITNESSTH:
Article I
Leased Vehicles: The Lessor hereby leases to the Lessee the vehicle(s) described in
Exhibit 1 attached herewith and made a part hereof (hereinafter referred to as vehicle(s)
upon the conditions and covenants set forth below). The vehicles shall be operated by
the Lessee to serve the best interest and welfare of the Lessor and the public. The
vehicles shall be maintained and operated in a manner that will provide the maximum
amount of safety and protection to the Lessee's employees and passengers. The
Lessee shall adhere to all drivers' license requirements set forth by the State and
Federal governments. (Commercial Driver's License is required for all vehicles with a
capacity of 16 or more passengers, including the driver). The Lessee will be
responsible for all fees incurred for the registration (license tag) of the vehicle; form
MVR 330, Transfer of Registration, will need to be completed and filed with the N.C.
Division of Motor Vehicles (NCDMV). The Lessee shall utilize the Lessor's equipment in
accordance with the procedures and guidelines set forth in FTA Circulars 5010.1D,
dated November 1, 2008 and 9040.1F, dated April 1, 2007, or any subsequent revisions
or amendments thereto, the Lessor description set forth in the Lessor's application and
the Transportation Development Plan (TDP), Community Transportation Service Plan
(CTSP) or Community Transportation Improvement Plan (CTIP) for
County. The Lessee shall not sublease the Lessor's equipment to another
entity without the expressed written consent of the Lessor and the NCDOT/ Public
Transportation Division (PTD).
Article II
Terms of Lease and Commencement Date: The term of this lease shall be for
months/years, commencing on , 20___, the date that the vehicle(s) are
placed in service by the Lessee, and continuing until , 20___, or until this
agreement is canceled or terminated in writing by either the Lessor or Lessee, or by
mutual consent, with 30 days advance notice. If the Lessor is leasing vehicles to a
private operator (the lessee), the term of this lease shall run concurrent with the service
agreement. The maximum term of any lease agreement shall not exceed five (5) years.
In the event of breach or noncompliance with this agreement, the Lessor may terminate
this agreement by giving the Lessee advance written notice. (See Article VII - Federal
Requirements)
Vehicle Lease Agreement 2
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