Equipment Lease (Page 2 of 4) in pdf

III. CASH RENT

Table I -Amount and Payment of Cash Rent

(complete at beginning of lease)

A. The renter agrees to pay a total cash rent of $__________during the time period covered by this lease (see Section 1I.A.). The cash rent will be

payable as follows:

$________on or before the______________day of

(month)

$________on or before the______________day of

(month)

$________on or before the______________day of

(month)

$________ on or before the______________day of

(month)

B. The renter agrees to pay a total cash rent of $________per_____________(specify unit) during the time

period covered by this lease (see Section II. A). The rent will be payable on or before___________________

______________________________________________________________________________________

The number of units will be determined as follows:______________________________________________

______________________________________________________________________________________

IV. OPERATION AND MAINTENANCE OF PROPERTY

4. Reimbursement. To pay for materials purchased by the renter for

A. The renter agrees:

purposes of repair and maintenance on property being rented in an

1. General maintenance. To provide the unskilled labor

amount not to exceed $_______ in any one year, except as otherwise

necessary to maintain the property during the lease period in

agreed upon. Reimbursement shall be made within - days after the

good condition as it was at the beginning. Normal wear and

renter submits an itemized bill.

depreciation and damage from causes beyond the renter's

control are

5. Removable improvements. Let the renter make minor

excepted.

improvements of a temporary or removable nature, which do not mar

2. Insurance. Not to violate restrictions in the owner's insurance

the condition of appearance of the property at the renter's expense. The

policies without written consent from the owner. Restrictions to be

owner further agrees to let the renter remove such improvements even

observed are as follows:

though they are legally fixtures at any time this lease is in effect or

within - days thereafter, provided the tenant leaves in good condition

that property from which such improvements are removed. The

3. Costs of operation. To pay the following utility and operating

renter shall have no right to compensation for improvements that are

costs. Charge or usage will be calculated as follows:

not removed except as mutually agreed in writing prior to their

installation.

C. Both agree:

4. Addition of improvements. Not to: a) add electrical wiring,

1. Not to obligate the other party. Neither party shall pledge the

plumbing or heating to any building without written consent of the

credit of the other party for any purpose whatsoever without the

owner; b) incur any expense to the owner except as follows:

consent of the other party Neither party shall be responsible for debts

or liabilities incurred, or for the damages caused by the other party.

2. Capital improvements. Costs of capital repairs or new

5. Damages. When the renter leaves the property, to pay the

structures and improvements shall be divided between

landlord and

owner reasonable compensation for any damages to the property for

tenant as follows:

which the renter is responsible. Any decrease in value due to ordinary

(1) The tenant will be reimbursed by the land-lord

wear and depreciation or damages outside the control of the renter is

when the improvement is completed.

excepted.

6. Repairs. Not to purchase materials for maintenance and repairs in

(2) The tenant will be compensated for the share of

excess of $_____within a single year without written consent of the

the depreciated cost of the tenant's contribution when the lease is

owner.

terminated based on the value of the tenant's contribution and

B. The owner agrees:

depreciation rate shown in the following table.

1. Loss replacement. To replace or repair as promptly as

possible any building or machine regularly rented by the renter from the

owner that may be destroyed or damaged by fire, flood, or other cause

beyond the control of the renter or to make rental adjustments in lieu of

replacements.

2. Materials for repairs To furnish all materials needed for normal

maintenance and repairs.

3. Skilled labor. To furnish any skilled labor which the renter is

unable to perform satisfactorily with respect to upkeep of the

property being rented. Additional agreements regarding materials and

labor are:

Equipment Lease Page 2

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