EQUIPMENT RENTAL AGREEMENT

1. THE PARTIES. This Equipment Lease Agreement (“Agreement”) is made and

entered into on this day of [DATE] by and between:

Owner: [OWNER'S NAME] with a mailing address of [OWNER'S ADDRESS]

(“Owner”), and

Renter: [RENTER'S NAME] with a mailing address of [RENTER'S ADDRESS]

(“Renter”).

2. EQUIPMENT. The Owner and Renter agree to enter into a binding agreement for
the leasing of the following: [DESCRIBE LEASED EQUIPMENT]

Hereinafter known as the “Equipment.”

3. TERM. The lease period begins on [START DATE] and continues until: (check one)

- End Date. This Agreement ends on [END DATE]. At the end of the lease
term, if the Landlord does not renew this Agreement, the Tenant is required to
vacate the condominium.

- Notice of Termination. This Agreement ends upon termination provided by

either the Owner or the Renter. Such notice can be given with [#] day(s) notice.
Upon receipt, the equipment must be returned within [#] day(s) plus any balance
owed by the Renter.

Hereinafter known as the “Term.”

4. LEASE PAYMENTS. The Renter agrees to pay the Owner: (check one)

- 1-Time Payment. $[AMOUNT] shall be paid by the Renter as a one (1) time
payment to lease the Equipment during the Term. Such payment is due and
payable at the execution of this Agreement.

- Periodic Payments. $[AMOUNT] shall be paid by the Renter at the start of

the Term and continuing each: (check one)
- Day
- Week

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 - Month

a.) 1st Payment. The first payment under periodic payments shall be due
and payable at the execution of this Agreement.
b.) Late Payment. If any periodic payment under this section shall be
unpaid by the Renter, the Owner shall be permitted to charge the
maximum interest rate (usury rate) allowed under Governing Law.

- Other. [DESCRIBE THE PAYMENT]

Hereinafter known as the “Lease Payments.”

5. SECURITY DEPOSIT. A Security Deposit is: (check one)

- Not Required. There is no Security Deposit required under this Agreement.

Any damage to the Equipment or losses incurred by the Owner as a result of this
Agreement shall be paid by the Renter in a separate payment.

- Required. $[AMOUNT] shall be paid by the Renter for any damage to the
Equipment or losses incurred by the Owner as a result of this Agreement.

6. LATE FEE (RETURNING EQUIPMENT). If the Renter does not return the
Equipment on the last day of the Term: (check one)

- No Late Fee shall be Charged.

- Late Fee shall be Charged. $[AMOUNT] shall be charged to the Renter for
each day the Equipment is late and not returned to the Owner (“Late Fee”). In
addition, the unpaid Late Fee shall accumulate interest at the maximum interest
rate (usury rate) allowed under Governing Law.

Under this Agreement, the Equipment shall remain the property of the Owner and
must be returned to the Owner in the same condition as the start of the Term, normal
wear and tear excepted.

7. INSURANCE. Insurance for the Equipment by the Renter is: (check one)

- Not Required. There is no insurance required to be obtained by the Renter

under this Agreement for the Equipment. The Renter shall be fully responsible for
any loss, damage, or destruction of the Equipment.

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 - Required. Insurance is required to be obtained by the Renter that is equal to
the replacement value of the Equipment. If requested by the Owner, the Renter
must provide proof of insurance.

8. OPTION TO PURCHASE. At any time during the Term, the Renter shall have:
(check one)

- No Option to Purchase. This Agreement is strictly for the leasing of the

Equipment with no option to purchase by the Renter.

- Option to Purchase. $[AMOUNT] shall be the purchase price if, at any time
during this Agreement, the Renter decides to purchase the Equipment from the
Owner.
a.) Lease Payments. If this option is exercised by the Renter, the Owner
shall remain owed the Lease Payments from the start of the Term until
the date the Renter exercised their option to purchase and made full
payment.

9. USE OF EQUIPMENT. The Renter agrees to use the Equipment for its intended use
and legal purposes. Any use of the Equipment outside of its intended use or for
unlawful purposes can result in the termination of this Agreement.

10. RENTER’S RESPONSIBILITY. It is the Renter’s responsibility to maintain the

Equipment in accordance with industry standards during the Term. Any repairs,
modifications, or damage caused to the Equipment, except for common wear and
tear resulting from its intended use, shall be the Renter’s responsibility.

11. REPAIRS. If, at any time, the Equipment ceases to function in its intended use at no
fault of the Renter, the Owner agrees to either:

a.) Replace the Equipment. The Owner shall replace the Equipment with another
that is equal in respect to brand, function, features, and purpose. During the
exchange period under which the Renter has notified the Owner of the
requested repair and the time it takes to replace the Equipment, there shall be
no lease payment owed by the Renter; or
b.) Repair the Equipment. The Owner shall repair the Equipment on a timely
basis and in accordance with industry standards. During the repair period
under which the Renter has notified the Owner

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 If the Renter is not at fault for the repair needed to the Equipment, the Renter shall
not be charged during the exchange period under which the Renter has notified the
Owner of the Equipment’s malfunction to when the Equipment is repaired or
replaced and returned to the Renter. Any payments made shall be credited for future
use of the Equipment.

12. DEFAULT. In the event of Default by the Renter, the Owner may terminate this
Agreement and take possession of the Equipment without prejudice to any other
remedies the Owner may have.

13. INDEMNIFICATION. The Renter shall indemnify and hold the Owner harmless from
any loss, damage, or expense arising from the Renter’s possession, use, or misuse
of the Equipment.

14. ENTIRE AGREEMENT. This Agreement constitutes the entire agreement between
the Owner and the Renter concerning the subject matter hereof and supersedes all
prior agreements, understandings, negotiations, and discussions, whether oral or
written.

15. GOVERNING LAW. This Agreement shall be governed under the laws located in the
State of [STATE].

16. ADDITIONAL TERMS & CONDITIONS. [ADDITIONAL TERMS]

IN WITNESS WHEREOF, the Owner and Renter have executed this Agreement as of
the date first above written.

Owner Signature: _____________________________ Date: _______________

Print Name: _____________________________

Renter Signature: _____________________________ Date: _______________

Print Name: _____________________________

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