Property Loan Agreement
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1Property Loaned by Stanford to an Outside Organization or Person
PROPERTY LOAN AGREEMENT:
Stanford University (Lender)
1. Stanford Loan #
2. Loan Period:
3. Inventory Report Date
4. Page ___ of ___
From: _______ To:_______
(SU Property Use Only.)
5. Name-Address-Phone No. (Stanford Dept.):
6. Name-Address-Phone No. (Borrower):
Contact Name (PI):
Contact Name:
7. Purpose of loan and location where property will be used:
8. a. Reference/contractual documentation/shipping information when applicable: (please attach)
b. Sponsor’s or approver’s name:
9. Item No.
10. SU ID No.
11. Manufacturer
12. Name/Description
13. Model No. 14. Serial No. 15. Acq. Cost
$
16. Yr. Mfg.
17. Condition
18. Dept. ID
If more that one item is loaned, check here and attach a listing.
TERMS AND CONDITIONS OF LOAN
1.
Borrower will:
a.
Assume all costs involved in preparation, handling, loading, disconnecting, transportation and shipping insurance from and
to Lender;
b.
Use the loan property only for the purposes specified in this loan agreement;
c.
Maintain and calibrate equipment in accordance with manufacturing specifications;
d.
Return the loaned item(s) in like condition as received from Lender, normal wear and tear excepted, and free of
contamination, n or before the expiration date, unless the loan period is formally extended or the loan is terminated before
the due date;
e.
Provide Lender evidence of liability insurance with limits not less than $1,000,000 and/or evidence of property insurance
for loss or damage with Lender to be included as an additional insured under both policies (property insurance not
required on government loans). The certificate(s) insurance are to be mailed to: Department of Risk Management,
Stanford University 651 Serra Street, Rm. 250, Stanford, CA 94305-6207.
f.
In case of loss or damage of the property loaned, report such loss and reimburse Lender at the current price of replacement
of repair (including cost of loss of use), and
g.
Agree to defend, indemnify and hold harmless Lender (Stanford University) and its officers, employees and agents against
any and all liability, loss, damages, claims and costs arising from Borrower’s use or possession of the loaned property.
1.
The above property shall not be modified, loaned, or transferred to a third party without the written permission of Stanford
University.
2.
Borrower will verify in writing to the Stanford University department loaning equipment the custody, use and condition of
equipment annually and permit periodic inspection of loaned property by Lender or its designee upon request.
3.
Borrower will immediately report to Stanford University Risk Management any incidents of loss, damage or destruction of
loaned equipment.
4.
Stanford University will pass on all FLOW DOWN responsibility to borrower. Title to the property will rest with Stanford or
its Sponsor in accordance with the prime agreement. Lender reserves the right to cancel the loan and to recall the loaned
property upon a 10 (ten) day notice.
Agreed to by Lender:
_______________________________ Date: _______________
Signature
Stanford Representative: _______________________________ Date: _______________
Signature
Form No. UPAF001 7.2-5
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