Equipment Lease Agreement Template Free: Term, Payments & Maintenance
Free Equipment Lease Agreement Template - Create professional equipment lease agreements with clear terms for equipment rental, payments, and maintenance.
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Agreement Date *
Lessor (Owner) Information
Lessee (User) Information
1. Description of Equipment
2. Lease Term
3. Rent and Payment Terms
4. Security Deposit
5. Maintenance and Repairs
The Lessee shall maintain the Equipment in good working condition and bear all costs of routine maintenance.
Any repairs necessary due to misuse or negligence shall be the Lessee's responsibility.
6. Insurance
The Lessee shall obtain and maintain insurance covering loss, theft, or damage to the Equipment during the lease term, naming the Lessor as the beneficiary.
7. Use of Equipment
The Equipment shall be used solely for lawful purposes and in accordance with the manufacturer's guidelines.
The Lessee shall not transfer, sublease, or otherwise dispose of the Equipment without the Lessor's written consent.
8. Return of Equipment
Upon termination of the lease, the Lessee shall return the Equipment to the Lessor in the same condition as received, normal wear and tear excepted.
9. Default
If the Lessee fails to make payments or breaches any other term of this Agreement, the Lessor may terminate the lease, repossess the Equipment, and seek any additional remedies available under law.
10. Governing Law
Preview
This Equipment Lease Agreement ("Agreement") is entered into as of [Date], by and between:
Lessor (Owner): [Full Name or Company Name], "with a principal place of business at" [Address]
Lessee (User): [Full Name or Company Name], "residing at" [Address]
1. Description of Equipment
The Lessor hereby leases to the Lessee the following described equipment ("Equipment"): [Detailed description]
2. Lease Term
The term of this lease shall commence on [Date] and continue until [Date], unless terminated earlier in accordance with this Agreement.
3. Rent and Payment Terms
- Payment Amount: $[Amount in USD] "per" month
- Payment Due Date: [Day] of each payment period
- Payments shall be made to the Lessor at [Payment Address or Method].
5. Maintenance and Repairs
The Lessee shall maintain the Equipment in good working condition and bear all costs of routine maintenance. Any repairs necessary due to misuse or negligence shall be the Lessee's responsibility.
6. Insurance
The Lessee shall obtain and maintain insurance covering loss, theft, or damage to the Equipment during the lease term, naming the Lessor as the beneficiary.
7. Use of Equipment
The Equipment shall be used solely for lawful purposes and in accordance with the manufacturer's guidelines.
The Lessee shall not transfer, sublease, or otherwise dispose of the Equipment without the Lessor's written consent.
8. Return of Equipment
Upon termination of the lease, the Lessee shall return the Equipment to the Lessor in the same condition as received, normal wear and tear excepted.
9. Default
If the Lessee fails to make payments or breaches any other term of this Agreement, the Lessor may terminate the lease, repossess the Equipment, and seek any additional remedies available under law.
10. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of [State].
IN WITNESS WHEREOF, the parties have executed this Equipment Lease Agreement as of the date first written above.
Lessor Signature:
Printed Name: [Name]
Date: ______________________________
Lessee Signature:
Printed Name: [Name]
Date: ______________________________
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