Equipment Rental Agreement (Lease) Template (Page 2 of 5) in pdf

GENERAL CONDITIONS OF EQUIPMENT RENTAL AGREEMENT (LEASE)

The conditions of lease here below stated, together with the Agreement set forth on the

reverse side of this sheet, constitute a contract between the parties therein named which

contract is hereafter referred to as “this Agreement”.

1) RENTAL PERIOD. The Rental period shall cover all time consumed in transporting

the equipment, including the date of legal delivery to a public carrier for transit to Lessee

and upon return of the equipment, the date of legal delivery by such carrier to Lessor, or

if no public carrier is used, shall include the date upon which transit to Lessee begins and

the date upon which transit from Lessee ends at Lessor’s unloading point.

2) RENTAL CHARGES. Lessee shall pay rental for the entire Rental Period on each

article of equipment named in the List of Equipment, at the rate therein stipulated and in

accordance with the following:

Monthly Rental Rates shall not be subject to any deductions on account of

any non-working time in the month. The amount of rent payable for any

fraction of a month at the beginning or end of the Rental Period shall be

the monthly rental rate, prorated according to the number of calendar days

in such fraction.

Daily Rental Rates shall not be subject to deductions for any non-working

time in the day and shall be paid for each calendar day in the month except

Sundays and legal holidays upon which the equipment is not operated.

Daily and monthly rental rates stipulated in the List of Equipment

contemplate an operating day of a regular single shift of eight (8) hours,

and for each hour over such eight (8) hours that the equipment is operated

these rates shall be increased six (6) percent of the daily rate throughout

such period as the equipment is so operated.

Unit of Work Rates shall be paid for each unit of work in which the

equipment participates, and the amount of rental shall, unless otherwise

agreed in writing be determined by the number of units shown in the

supervising engineer’s or architect’s estimates.

PAYMENT. The rent for any and every item of equipment described in the List of

Equipment shall be the amount therein designated and is payable in advance on the first

day of each month. Lessee shall pay Lessor interest at twelve percent (12%) or the

highest lawful rate, whichever is greater, on any delinquent payment from the date when

such payment was due until paid and on any other sum for breach of this Agreement,

from the date of the breach, and expenses of collection or suit, including actual attorneys’

fees.

SECURITY DEPOSIT. Any security deposit paid by Lessee to Lessor is paid to

guarantee Lessee’s full and faithful performance of all terms, conditions and provisions

of this Agreement. If Lessee shall so perform, an equal sum shall be repaid without

interest to Lessee at the termination of this Agreement.

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Equipment Rental Agreement – CONSERVATION DISTRICT PROGRAM

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