Lease Agreement -Automobile
This automobile lease made _________[Date], between _________, having its principal place of business in _________, _________, lessor, and _________, lessee states as follows:
1. Lessor leases to the lessee and the lessee hires and takes from lessor for a term of _________ months one or more automobiles at the rental and with the equipment, specified on the schedule or schedules attached here and made a part of this agreement. The term and rental shall commence on the date each respective automobile is delivered to lessee and the rental shall continue until the automobile is returned to lessor as subsequently provided.
2. Lessor agrees that:
(A). Lessor on reasonable notice will replace any automobile leased under this agreement which shall be stolen, become unfit for operation or which shall have been operated by the lessee for _________ months.
(B). Lessor will furnish license plates registered in its name under the laws of the state of _________ in which the leased automobile is to be kept.
(C). Lessor will maintain or cause to be maintained in good working condition each automobile leased here. Nothing in this agreement, however, shall require lessor to provide or pay for, or cause to be provided or paid for, any gasoline, oil, antifreeze, washing or storage for any automobile leased under this agreement.
(D). Lessor will reimburse lessee for the cost of any inspection of any automobile leased under this agreement required by laws of the state of _________.
3. Lessee agrees that:
(A). Lessee will pay to lessor at _________ street, _________, _________, the rental of each automobile then leased under this agreement on the first day of each and every calendar month. The rental for the first and last month of the term, unless the term starts on the first day of the month and ends on the first day of the month, shall be apportioned on the basis which the number of days of the term in the month bears to the whole number of days in such month.
(B). Lessee will pay or cause to be paid any sales, use or similar tax, or any tax exclusive of income tax, which is now or which may subsequently be imposed on the letting of any automobile under this agreement or the use and/or operation of any automobile leased under this agreement.
(C). Each automobile leased under this agreement will be used and operated in a careful manner and lessee will pay or cause to be paid any fines imposed by any governmental authority levied upon any automobile leased under this agreement and its respective driver as the result of any act or omission during the term the automobile is leased under this agreement.
(D). Lessee will not use or allow any automobile leased under this agreement to be used for any illegal purpose and will reimburse lessor for any automobile leased under this agreement which is confiscated and for expenses incurred as a result of any confiscation or attempted confiscation by any governmental authority whatsoever, whenever such confiscation and expenses or either is caused by the illegal use of such automobile while the automobile is leased under this agreement.
(E). Lessee will keep and maintain each automobile leased under this agreement in good running order and will see that the automobiles are in good repair and properly serviced and greased at the expense of lessor.
(F). Immediately on the discovery of the need of any repair or servicing or otherwise of any automobile leased under this agreement lessee shall cause such automobile to be taken to an authorized service station of the manufacturer of such automobile. The cost of such repair may be deducted by the lessee from the next rental payment due lessor under this agreement provided lessee shall make no repairs the cost of which shall exceed $_____ without the written consent of lessor first obtained. At the time of making such deduction, lessee shall provide lessor with an itemized invoice evidencing payment for the repairs for which such deduction is claimed.
(G). Any automobile leased under this agreement will be examined at such time and place as may be required by the constituted authorities having jurisdiction and lessor shall reimburse lessee for any fees required for such examination if provided with the official receipt.
(H). Any automobile leased under this agreement will be kept and maintained in a garage or other covered storage space except when in use.
(I). Lessee at his [or her] expense will provide all gasoline, oil, antifreeze, washing, storing and garaging for any automobile leased under this agreement.
(J). Lessee will be liable, and pay lessor for all damage or loss to any automobile leased under this agreement resulting from collision, upset or overturn to, but not beyond the sum of $_____ for each collision, upset or overturn notwithstanding any other provision of this lease.
(K). Lessee will effect, pay for and maintain as to each automobile leased under this agreement while this agreement is in effect for that automobile indemnity insurance, including public liability and property damage insurance, issued by a responsible company or companies, protecting the interests of both lessee and lessor against liability for damage, personal injury or death caused by any automobile leased under this agreement, or its operation, to the extent of not less than $_____ per accident and not less than $_____ per person; and the sum of $_____ per accident against liability for damage to property caused by the operation of any automobile leased under this agreement, and the lessee agrees that the policy will include lessor as a "named insured" and shall not be cancelled until after _________ days notice to lessor of intention to cancel, and the lessee further agrees to furnish to lessor prior to the use or operation of any such automobile a certificate of such insurance.
Should any claim be made or any action be commenced against lessor arising from any of the causes covered by the insurance referred to in this paragraph, lessor will promptly notify lessee and lessee will conduct the defense of any such claim or action at lessee's expense, including all costs and attorneys' fees.
In the event of the cancellation of any public liability and property damage insurance or any required of lessee at his [or her] expense under the terms of this lease, the use by lessee of all automobiles leased shall cease until all such insurance so cancelled has been renewed or replaced.
(L). Except as otherwise subsequently provided, upon the expiration of the term of this lease or its earlier termination for any reason, any automobile leased under this agreement shall be returned by lessee to lessor at _________ street, _________, _________.
(M). If any default shall be made by lessee in the payment punctually when due, of any rent or other moneys due under this agreement, or in the performance of any other provision, or if lessee is or becomes unable to pay his [or her] debts from his [or her] own means as they become due, or if any receiver of the business or of the property or assets of the lessee shall be appointed by any court, or if the lessee shall abandon the automobiles or if the lessee shall otherwise, in any manner whatever, become unable to pay the rent specified here or to perform any of the provisions to be kept or performed by lessee, then in any of such events lessor shall have the option, without notice to lessee or demand for performance, to require lessee to redeliver to lessor at a location designated by lessor but at lessee's expense, each of the automobiles leased or to repossess each of the automobiles and either:
4. Lessor and lessee agree that:
(A). Lessor will not be liable to lessee for any loss of business or any other damage caused by any interruption of the service provided for here or otherwise.
(B). Lessor may at any time replace any automobile leased under this agreement with a new automobile of similar make and body.
(C). Lessee shall have the right, but not the duty, at lessee's expense to affix or cause to be affixed, to any automobile leased under this agreement any appropriate advertisement or insignia indicating that such automobile is being used in the service of lessee.
(D). Lessor does not assume any liability for any acts or omissions of lessee or of any of lessee's agents, employees or drivers and lessee specifically releases lessor from all such liability and agrees to hold lessor harmless of and from any and all such liability, except that lessor (and not lessee) shall be liable for any loss or damage suffered by any automobile leased under this agreement from fire or theft or from collision, upset or overturn in excess of $_____ for each collision, upset or overturn.
(E). This is an automobile lease only, and the lessee has acquired no right, title or interest in or to the automobiles, except the right to use the same pursuant to the provisions of this lease.
(F). This lease and the term of it as to any automobile leased under this agreement shall be extended for an additional term of _________ months as to such automobile upon all of the terms of this lease, including this paragraph for renewal, unless either party here at least _________ days before the end of the term of this lease as to such automobile gives written notice to the other of intention to terminate this lease as to such automobile on expiration of the term as to such automobile.
(G). So long as the lessee performs all of the terms and conditions of this lease including payment of the rental in respect to any automobile leased under this agreement, lessee shall have the unrestricted lawful use of such automobile for any lawful purpose except the transportation of persons or property for hire.
(H). Lessee will not assign, mortgage or hypothecate this lease, or any interest in it, or permit the use of any automobile leased under this agreement by any person other than lessee or an adult member of his or her family or his or her agents or employees, nor sublet any automobile without the written consent of lessor.
(I). This lease shall terminate as to any automobile replaced by lessor under this lease when so replaced and the new car shall be leased for the full term.
(J). The obligations of lessor may be suspended to the extent it is hindered or prevented from complying by strikes, lockouts, war, act of God, fires, storms, unavoidable accidents or governmental regulations or interference or other matters beyond its control.
(K). This lease agreement represents the entire agreement between the parties here and no provision may be waived or modified, except by an instrument in writing signed by both of the parties.
(L). The marginal notations on this lease agreement do not constitute any part of this lease agreement and shall not be considered in its interpretation.
Executed in duplicate at _________, _________, the day and year first written above.
By _________, its _________, Lessor
By _________, Lessee
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