State Of Georgia User Agency Vehicle Open End (Financial) Lease Agreement (Page 2 of 7) in pdf

VEHICLE DELIVERY AND ACCEPTANCE. The vehicle shall be delivered to the User

Agency at the address identified below on the Delivery Date.

DELIVERY ADDRESS & USER AGENCY CONTACT

User Agency Delivery

Address:

NOTE: In determining the delivery date, User Agency should

User Agency Delivery

ensure it will be able to deliver the required Certificate of

Date:

Insurance to Contractor prior to delivery.

The vehicle shall be at the Contractor’s risk until the vehicle has been delivered to and accepted by

the User Agency. User Agency shall be entitled to inspect the vehicle upon delivery. If the

delivered vehicle has been damaged, does not conform to the User Agency’s order (e.g. requested

options not included, wrong model, etc.), User Agency shall identify such damage and/or

nonconformity in writing to Contractor in a timely manner.

LEASE TERM. The initial term of this lease agreement is for 2 calendar year(s) from the date of

User Agency’s acceptance of delivery. The User Agency is hereby granted successive options to

renew this lease agreement for one or more additional terms, as defined below with a final payment

of $1,000.00.

Renewals will be executed with the same terms and conditions, provided, that such

option(s) to renew shall be exercisable solely and exclusively by the User Agency.

Further, in accordance with Official Code of Georgia Annotated (O.C.G.A.) Section 50-5-64, the

parties acknowledge that the User Agency’s obligations under this lease agreement are payable

solely from appropriations from the General Assembly of the State of Georgia. The parties further

48 MONTH LEASE TERM

Total Lease Term: 48 MONTHS

Initial 2 Year Term: Date of User Agency Acceptance* through (last day of one year term)

First Renewal: Insert Date

Final Renewal: Insert Date

Final Payment: *$1,000.00

*The Date of User Agency Acceptance shall be the date that the User Agency accepts delivery

of a vehicle, which is operational and complies with the terms and conditions of this lease

agreement and the Statewide Contract.

agree that notwithstanding any other provision of this lease agreement, if the source of payment for

any obligation under this lease agreement no longer exists or is insufficient with respect to the leased

vehicle, this lease agreement shall terminate without further obligation of the User Agency as of that

moment. The determination of the User Agency of the events stated above shall be conclusive;

provided, however, if the User Agency declares a nonappropriation event pursuant to this Section,

User Agency agrees to not replace the vehicle subject to the nonappropriation event with another

vehicle in the same State of Georgia fiscal year. User Agency will endeavor to notify the

Contractor in writing within ten (10) days of receipt of non-appropriation notice but failure to do so

shall not be deemed a waiver.

LEASE PAYMENT. In consideration for the lease of the vehicle identified herein, the User

Agency shall pay to the Contractor the sum of $________ per month during the term of this lease

agreement or any renewal hereof. Contractor shall submit a monthly written invoice, which invoice

State Of Georgia User Agency Vehicle Open End (Financial) Lease Agreement Page 2

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