THIS LEASE MADE
as of between , of (the “Lessee”) and , of (the“Lessor”)
Lessor hereby leases to Lessee, and Lessee hereby leases from Lessor the property described in Schedule “A” hereto together withall replacement parts, additions, repairs and accessories incorporated therein and/or affixed thereto (the “Equipment”) on thefollowing terms and conditions:
. This lease is for a term of months, beginning , and ending .
. Lessee shall pay to Lessor rentals aggregating, plus applicable taxes, of which is herewith paid in advance and the balance of the rental is payablein equal, successive, monthly rental payments of each, of which the first is due , and theothers on the same date of each month thereafter, untilfully paid. Rental payments shall be made at the addressof Lessor first above noted or at such place as Lessor’sassigns shall notify Lessee in writing.
Place of Use
: The Equipment shall be kept at , inthe State of , until Lessor in writing permits itsremoval.
: Lessor shall not be obligated to make anyrepairs or replacements; Lessee shall not incur for Lessor’s account or liability any expense therefor withoutLessor’s written consent. Lessee shall effect and bear theexpense of all necessary repairs, maintenance andreplacements.
. Lessee shall cause the Equipment to beoperated by competent employees only, and shall pay allexpenses of operation.
. Lessee shall indemnify and save Lessor harmless against and from all loss, damage, expense or penalty arising from any claim or action on account of personal injury or damage to property occasioned by theoperation, handling or transportation of the Equipmentduring the rental period, but shall be credited with anyamounts received by Lessor from insurance procured atLessee’s expense. Damage for any injury to theEquipment shall be based on the then true and reasonablemarket value of the Equipment irrespective of rentalstheretofore paid or agreed.
. Lessee, at its expense, shall keep theEquipment insured at the full value thereof and for theterm hereof against fire, theft, collision and extendedcoverage and against such other risks and in suchamounts as Lessor may specify, with losses, if any, payable to Lessor. Lessee shall, on request of Lessor,deliver to Lessor the policies or evidence of insurancesatisfactory to Lessor, together with receipts for premiums paid thereunder. If Lessee fails to insure asaforesaid, then Lessor may place insurance as Lessor deems advisable and Lessee will be obligated to pay the premium on demand.
Taxes and Laws
. Lessee shall comply with and conformto all laws and regulations relating to the ownership, possession, use or maintenance of the Equipment, andsave Lessor harmless against actual or assertedviolations, and pay all costs and expenses of everycharacter occasioned by or arising out of such use, and pay promptly when due all taxes and other public chargesagainst or upon the Equipment, as additional rentaltherefor.
. All Equipment shall remain personal property, andtitle thereto shall remain in Lessor exclusively. Lesseeshall keep the Equipment free from any and all liens andclaims, and shall do or permit no act or thing wherebyLessor’s title or rights may be encumbered or impaired.Upon expiration or termination hereof, the Equipmentshall be returned unencumbered to Lessor by Lessee atLessee’s sole expense and in the same condition as whenreceived by Lessee, reasonable wear and tear resultingfrom proper use thereof alone excepted. Lessee shall payrent at the above rate until all Equipment arrives atLessor’s premises.
. Unless Lessee notifies Lessor within 48hours after delivery of the Equipment, stating details of any defects, Lessee shall be conclusively presumed tohave inspected and accepted it. Lessee shall, whenever requested, advise Lessor of the exact location of theEquipment and shall give Lessor immediate notice of anyattachment or other judicial process affecting theEquipment, and indemnify and save Lessor harmlessfrom any loss or damage caused thereby. Lessor may, for the purposes of inspection, at all reasonable times enter upon any job, building or place where the Equipment islocated, and may remove the Equipment forthwith,without notice to Lessee, if the Equipment is, in theopinion of Lessor, being used beyond its capacities or inany manner improperly cared for or abused.
. Time is of the essence. Lessor’s failure atany time to require strict performance by Lessee of any of the provisions hereof shall not waive or diminishLessor’s right thereafter to demand strict compliancetherewith or with any other provision. Waiver of anydefault shall not waive any other default.
. There are no representation, warranties or conditions, express or implied, statutory or otherwise,other than those herein contained. No oral agreement,guaranty, promise, condition, representation or warrantyshall be binding; all prior conversations, agreements or representations related hereto and/or to the Equipmentare integrated herein. No modification hereof shall be