Terms & Conditions

Conditions of Lease Agreement

In addition to payment of rentals as provided on the reverse side, due on the tenth day after the date of invoice. Lessee agrees that;
1. Lessee will pay, or reimburse Lessor for any and all sales and use taxes and in any state other than the state in which the equipment is licensed for, personal property taxes, or other direct taxes levied against or based upon the price or value of the property lease hereunder or its use or operation, or levied against or based upon the amount of rentals paid or to be paid hereunder. The term “direct taxes” as used herein shall include all taxes (except income taxes) charges and fees, levied, assessed, or charged by the US government the Canadian Government, any state government, provincial government, or any county, city, or other taxing authority.
2. Lessee will pay all costs and expenses (including attorney fees where recovery of same is not prohibited by law) incurred by Lessor in enforcing any of terms, provisions, covenants, and indemnities provided herein.
This transaction is a leasing and not a sale. The parties understand and agree that Lessee does not acquire hereunder, or by payment of said rental any right, title, or interest in or to said equipment or any thereof, except the right to possess and use said equipment so long, and only so long, as Lessee shall not be in default in performance hereunder.
Lessee agrees at Lessee’s sole cost and expense, to keep said equipment at all times during the life of this Agreement in good repair and operating condition and free of any and all liens and encumbrances and to replace with new parts any and all badly worn or broken parts, including, but not limited to, tires and tubes if tires and tubes are furnished with the equipment leased hereunder, and Lessee agrees that, upon termination of this Agreement by expiration, or otherwise, Lessee will return said equipment to Lessor at Lessor’s address hereinabove stated, at Lessee’s cost and expense, in the same condition and state of repair as delivered to Lessee hereunder, ordinary wear and tear excepted.
Lessor at any time following expiration of the minimum period of the lease agreement, without prior notice to the Lessee, may request the Lessee to return all the equipment to the location designated by the Lessor or change any or all of the rates for the equipment rental. If Lessor terminates the lease it shall become effective only when the Lessee has returned all such equipment to the location designated by the Lessor and has paid Lessor all unpaid rentals and charges allocable to the returned equipment which have accrued as of the time of return of equipment. Lessee is obligated to return equipment to the location designated herein and in the event Lessee delivers unit to another location of Lessor. Lessee will be billed for any cost incurred in returning the equipment to the Lessor location designated in this lease, in an amount not to exceed $500 per unit. WARRANTY FOR MERCHANTABILITY AND FITNESS: Lessee agrees that there are no warranties, express or implied, and all warranties of any kind, including specifically any express or implied warranty of MERCHANTABILITY or fitness for purpose are hereby excluded both as to leased equipment and as to any maintenance or repair work performed by Lessor on the equipment leased hereunder.
As used in this lease, the term “Rental day” is a period of 24 hours, and the first rental day is any part of the first 24 hours following delivery of the equipment to Lease or his agent hereunder.
Lessee hereby specifically indemnifies Lessor, and agrees to hold Lessor harmless, against all loss and damages. Lessor may sustain or suffer because of:
1. The loss of or damage to said equipment, or any thereof because of collision, and
2. The loss of or damage to said equipment, or any thereof because of fire, lightning and theft, and
3. The loss of or damage to said equipment because of flood, windstorm, explosion, marine, general average or other casualty, and
4. The death of injury to, or damage to the property of any third person as a result of, in whole or in part the use condition of said equipment or any thereof while in the custody possession or control of Lessee, and
5. The failure of Lessee to maintain said equipment as agreed and provided herein;
  and Lessee further agrees, at Lessee’s cost and expense to procure and deliver to Lessor simultaneously with or prior to delivery to Lessee of the equipment to be leased hereunder, and keep in full force and effect during the entire term of this Agreement, A policy or policies or insurance satisfactory to Lessor as to the insurer and as to the form and amount of coverage with premiums prepaid for the term of this Agreement protecting Lessor against all loss and damage it may sustain or suffer because of (1) the loss of damage to said trailers, or any thereof, because of fire, theft, lightning, flood, windstorm, explosion or other casualty, and (2) the loss of or damage to said equipment of any thereof because of collision and (3) the death of injury to or damage to the property of any third person as a result of in whole or in part the use or condition of said trailers or any thereof, while in the custody possession or control of Lessee with limit of $100,000 to $300,000 as to personal injury liability and $50,000 as to property damage liability. Single interest liability insurance protecting Lessor only may be obtained by Lessor at the expense of Lessee if Lessee does not provide the insurance described above, provided however, that Lessor is not required to purchase such insurance and unless Lessor does purchase such single interest liability insurance, Lessee’s obligation to procure insurance shall not be reliever or affected in any respect. It is understood that procurement of insurance by Lessee as herein provided or Lessee’s to procure the same shall not, and does not, affect Lessee’s covenants, obligations, and indemnities under this Lease and the loss, damage to, or destruction of any of the equipment leased hereunder shall not terminate this Lease, nor except to the extent, and only the extend that Lessor is actually compensated by insurance paid for by Lessee, relieve Lessee of any of Lessee’s liability hereunder. Lessee is and shall be and remain a full insurer of the equipment and Lessee hereby releases and waives any and all defenses available to a bailee by law.
6. If Lessee has initialed the clause headed “Collision Damage Waiver” reverse side and pays the additional fee specified therein, then Lessor agrees to relieve Lessee of all liability exceeding $350.00 per unit (unless specified at a higher amount under special instructions-reverse side) of equipment for loss or damage under Condition 5 (a), except when liability arises when any of the provision of Conditions 3, 5(c), 10 and 14 have been violated. No coverage is provided by Lessor under “Collision Damage Waiver” for damage to roof structure, however caused.
7. If Lessee has an initialed the clause headed “Fire and Theft Waiver” reverse side and pays the additional fee specified therein, then Lessor agrees to relieve Lessee of all liability exceeding $350.00 per unit (unless specified at a higher amount under special instructions-reverse side) of equipment for loss or damage under Condition 5 (b) except any liability arising when any of the provisions of Conditions 5 (e), 10 and 14 have been violated.
8. It is further understood and agreed that in additional to comprehensive “Automobile” personal injury, and property damage and marine averages specified in 5 (b), and 5 (c), the Lessee agrees to provide comprehensive general liability including contractual coverage for hold harmless agreements contained herein, and certificates of insurance required to be furnished hereunder should so state.
9. The Collision Damage Waiver set forth in 5 (f) and/or Fire and Theft Waiver set forth in 5 (g) shall in no event be binding upon the Lessor unless any collision, fire or theft which shall have occurred to the rental unit will have been reported to the Lessor in writing within 48 hours of the events occurrence and that the Lessee provide any documentation requested and otherwise cooperate with the requirement of the Lessor.
Lessee assumes all responsibility for any and all licenses, titles permits and other certificates as may be required by law or otherwise for Lessee’s lawful operation of said equipment hereunder in any state except the state in which equipment is licensed. Lessee agrees that all certificates of title or registration applicable to the equipment leased hereunder shall reflect Lessor’s ownership thereof. Such title certificates and registrations may, if permitted by the state in question, show the interest of Lessee hereunder.
Lessor reserves to itself the right to place upon each piece of equipment leased hereunder the name of the Lessor and Lessee agrees not to remove said words or permit or suffer any other person so to do.
In the event any act or thing required of Lessee hereunder shall not be done and performed in the manner and at the time or times required by this Agreement. Lessee shall thereby be and become in default under the agreement thereby vesting in Lessor the right, without any notice or demand to declare all unpaid lease rentals to be due and payable forthwith and to retake and retain said equipment free of all rights of Lessee without any further liability or obligation to redeliver the same or any thereof to Lessee and without, to any extend, releasing Lessee from Lessee’s covenants, obligations, and indemnities provided hereunder including but not limited to Lessee’s obligation for the payment of the renal provided herein. In the event Lessor shall retake possession of the leased equipment or any part thereof and there shall, at the time of such retaking, be in, upon or attached to such retaken equipment any other property, goods or things of value belonging to Lessee or in the custody of control of Lessee, Lessor is hereby authorized to take possession of such other property, goods or things of value and hold the same for Lessee either in Lessor’s possession or, in the exercise of Lessor’s sole discretion, in public storage for the account of, and the expense of Lessee.
Lessee has inspected the leased equipment and the equipment condition is satisfactory and acceptable to Lessee. Lessor has made no warranties, expressed or implied, with respect to the leased equipment or any thereof and has not made, and shall not be bound by any statements, agreements, or representations not specifically set out herein, unless the same to be reduced to writing and signed by Lessor.
Lessee shall not make, suffer, or permit any unlawful use or handling of said leased equipment. Lessee shall not, without Lessor’s prior written consent thereto make or suffer any changes, alterations, or improvements in or to said leased equipment or remove therefrom any parts, accessories, attachments or to the equipment. Equipment returned with accessories, attachments, or other items missing will continue to be considered as rented until the missing property is returned or replacement cost is paid.
Lessee agrees to comply with perform and execute all laws, rules, regulations or order of all state, federal or local governments or agencies which in any way affect or related to, of are applicable to any of the equipment or to use, operation, maintenance or storage thereof, and to indemnity and hold harmless Lessor or Lessor’s assignee from any and all fines, forfeitures, seizures, penalties and liabilities that may arise from any infringement or violation of any such law, rule, regulation or order by Lessee or his employees or by any other person, or that may result from the use, possession, operation or condition, of any of the equipment. Lessee further agrees to indemnify to save harmless Lessor’s assignee from any and all claims, liens, demands, or liability whatsoever arising from any work done on any materials supplied to or in connection with the operation, maintenance, possession, or storage of any of the equipment and from all loss of or damage thereto and from and against all loss, damage, claims, penalties, liability and expenses, including attorney’s fees howsoever arising or incurred because of the storage, maintenance, use, handling, repair, loading, unloading, or operation, or alleged use or operation, of any of the equipment therein or
thereon.
Lessee will indemnify and save Lessor harmless from any loss, cost or expense, or any sort of nature, and from any liability to any person on account of any damage to person or property arising out of any failure of Lessee to comply in any respect with and perform any of the requirements and provisions of the lease.
The failure of Lessor to insist upon the punctual performance of the covenants of Lessee hereunder, Lessor’s failure to exercise any right or remedy available under or upon this Agreement, any failure of Lessor to require payment, as and when due, of any sum owing hereunder, or any extension of credit or forbearance on the part of Lessor shall not constitute a waiver of any subsequent default hereunder. All demands for payment and performance and all notices of nonpayment under this Agreement are hereby waived by Lessee.
Lessee shall not have the right to assign this lease or to sublet, rent, or otherwise hire out, or part with possession of any said equipment any person, firm, partnership, association, or corporation other than Lessor without the prior written consent of Lessor thereto. Lessor shall have the right to assign this lease and/or the rentals reserved hereunder. In the event of an assignment of this lease by Lessor, the assignee shall acquire thereby all rights and remedies possessed by or available to Lessor. Lessee agrees that the equipment lease hereunder will not be operated by any person other than Lessee or agents or employees of Lessee, each of who Lessee warrants to be a careful, dependable operator having a currently valid license to operate said property and the power equipment used therewith as required by law.
This instrument contains the entire agreement between the parties pertaining to the subject matter hereof. No agreements, representation, or understandings not specifically contained herein shall be binding upon any of the parties hereto unless reduced to writing and signed by the parties to be bound thereby. The terms, covenants, and other provisions of this Agreement may hereafter be changed, amended, or modified only by an instrument in writing specifically purposing so to do and signed by the parties to be bound thereby. Ay amendment, modification or addendum to this lease agreement to be binding on Lessor much be signed by the Treasurer or Assistant Treasurer of Lessor.