Motor Vehicle Lease
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1
2MOTOR VEHICLE LEASE
Lessor Name and Address:
Lessee Name and Address:
DESCRIPTION OF LEASED PROPERTY.
1.
Lessee has leased from Lessor and received in
satisfactory condition the following property, referred to in this lease as the vehicle:
A New or Used:
TERM OF LEASE.
2.
The term of this lease shall commence on
and
shall be for a period of
unless extended further by agreement of Lessor and
Lessee.
INSURANCE.
3.
Lessee is responsible for any loss or damage to the vehicle and Lessee agrees to provide
insurance coverages for the term of this lease in the types and amounts satisfactory to Lessor.
MAINTENANCE.
4.
Lessee is responsible for all maintenance, service, and repairs of the vehicle. Lessee
will provide and pay for all gas, oil, anti-freeze, and replacement tires for the vehicle. Lessee will at Lessee=s
expense maintain the vehicle in good working order and see that all maintenance, service, and repairs are
performed when needed, but at least as often as set forth in the owner=s manual or as requested by the
manufacturer in connection with any recall program. Lessee is not required to purchase a service contract.
DISCLAIMER OF WARRANTIES.
5.
The only express warranty to which the vehicle is subject is the
standard manufacturer=s warranty on the vehicle, Lessor is leasing the vehicle to Lessee AAS IS@ and Lessor
DOESN=T MAKE ANY EXPRESS WARRANTIES OR REPRESENTATIONS. IN ADDITION, THERE ARE NO
IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR ANY PARTICULAR PURPOSE OR ANY
OTHER IMPLIED WARRANTIES BY Lessor. Lessor shall have no responsibility to Lessee or to any other
person with respect to any interruption of service, loss of business or anticipated profit or consequential
damages. Any statement concerning the model year is for identification only.
DEFAULT.
6.
Lessee will be in default of obligations under this lease if any of the following events or
conditions occur:
a.
Lessee fails to make any payment under this lease when it is due;
b.
Lessee becomes the subject of a bankruptcy or insolvency proceeding;
c.
Lessee fails to maintain the required insurance coverages.
TAXES.
7.
Lessee will pay when due all sales, use, rental, or other taxes, and all fees and charges of any
nature (together with any interest or penalties not arising from the negligence of Lessor) imposed in
connection with this lease by any federal, state, county, or local governmental authority (excepting however,
any federal, state, county, or local tax or taxes based in whole or in part on the income of Lessor).
TITLE.
8.
Legal title to the vehicle will be in the name of the Lessor. Lessee agrees to pay all title and
registration costs.
255181.DOC
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KCL 2004
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