Free Simple Equipment Lease Agreement
Equipment Lease Agreements are used when leasing a piece of equipment. This agreement sets out the specific type of equipment, the lease duration and the monthly payment amount. It also gives specific guidelines regarding the use and storage of the equipment.
Disclaimer:This was not drafted by an attorney & should not be used as a legal document.
Equipment Lease Agreement
This Equipment Lease ("Lease") is made effective as of ____________ (Date), by and between _________________ ("Lessor") and _____________________ ("Lessee"). The agreement of the parties is as follows:
1. Equipment subject to Lease. Lessor shall lease the following Equipment (“Equipment”)
2. Payment Terms. The Lessee shall make ___ monthly payments of $________, and shall be due on the first day of each month.
3. Security Deposit. Lessee shall pay a security deposit $ _______, at the time this Lease is signed. This deposit will be returned to the Lessee at the termination of this Lease, subject to the option of the Lessor applying it against Lease charges and damages.
4. Lease Term. This Lease shall begin on the above effective date and shall terminate on ______________ (Date)
5. Location or locations of the Equipment. The equipment shall be located at ______________________________during the lease term, and shall not be removed from that location without the Lessor's prior written consent.
6. Operation and Care of Equipment. The equipment must be used and operated in a careful and appropriate manner.
7. Maintenance and Repair. Lessee shall maintain at the Lessee's cost, the equipment in good repair and operating condition, allowing for reasonable wear and tear.
8. Equipment Return at the end of the Lease. At the end of the Lease term, the Lessee shall be obligated to return the equipment to the Lessor at the Lessee's expense.
The parties herein have executed this Equipment Lease Agreement.