Equipment Lease Contract Template - Free Download
4.3,
3848
votes
Please vote for this template if it helps you.
EQUIPMENT LEASE CONTRACT
(MCC Authorized 12/10/2012)
Applus Technologies, Inc.: “Lessor,” “We,” “Us,” or “Applus”
Description of Leased Equipment (This should include make, model, serial number. Attach schedule if necessary):
MUST BE COMPLETED
___________________________________________________________________________________________________________________________
Leasing Customer ("You"):
Company Name (Exact business name): __________________________________________________________________________________________
Address:___________________________________________________________________________________________________________________
Street City County State Zip
Phone: __________________________ Fax: __________________________ Business Type: ____________
Equipment Location: ________________________________ State of Incorporation/Organization: ______________
Payment Schedule:
Lease Term (months)
Total # of Pmts.
Amount of Each Payment
(plus applicable fees)
Pmt. Frequency
TERMS OF LEASE
1. You (the customer) want to lease the above equipment from Lessor. This Lease will begin
when the equipment is delivered to you and will continue for the entire Lease Term plus any
interim rent period. You will unconditionally pay us all amounts due. If we do not receive
your payment by its due date, there will be a late fee equal to the greater of $25.00 or 15%
of the late amount (or, if less, the maximum amount allowable under law) which you agree is
a reasonable estimate of the costs we incur with respect to late payments and is not a
penalty. Upon your request, we will waive the first assessed late charge. We may charge you
a partial payment (interim rent) for the time between delivery and the due date for the first
regular payment. We may charge you a one-time documentation fee up to $250. This Lease
is not binding on us until we sign it. To expedite this Lease, you may ask us to accept your
faxed or emailed signature and have agreed it will be considered as good as your original
signature and admissible in court as conclusive evidence of this Lease. You further agree to
pay, as a security deposit, an amount equal to two (2) months’ rent upon signature of this
Lease.
2. 60 days prior to the end of the Lease Term, Applus will send you a letter reminding you of
the upcoming expiration of the Lease. You can elect to purchase the equipment for a price
that equals the total cost of the equipment new, divided by 54 months and multiplied by the
number of months left in the program which is the subject of the Prime Contract between
Applus Technologies, Inc. and State of Washington Department of Enterprise Services dated
October 29, 201 (the “Program”). For example, if there are 6 months left in the Program,
and you wish to purchase the equipment, whose cost new is $10,000, the purchase price
would be (10,000/54) x 6 = $1,111. If you intend on purchasing the equipment, you must
provide us with notice of such at least 30 days prior to the expiration of the Lease. If you do
not notify us, Applus will take possession of the equipment, which must be in good working
order, at the station location for a fee of up to $500. You agree to reimburse us for our costs
to refurbish returned equipment. (b) You agree the security deposit will not bear interest and
that we may apply it to any amount owed to us, and should we do so, you agree to restore
the security deposit to its original amount. You may request the return of the security deposit
only after all of your obligations under this Lease have been met in full.
3. You alone selected the equipment configuration. Therefore, the Lease cannot be
canceled by you for any reason. We are leasing it to you “as is” and we disclaim all
express and implied warranties, including any warranty of merchantability or fitness for a
particular purpose. You are responsible for installation and all service. You promise that the
equipment will be used only for business and not for personal, family or household purposes.
You will keep and use the equipment only at the above address and not move it or return it
to us prior to the end of the Lease Term. You will be responsible for any damage to the
equipment, excluding normal wear and tear.
4. If you do not pay us as agreed or fail to perform any other term of this Lease, you will
be in default and you agree that we may (i) repossess the equipment and/or (ii) invoice
you and/or sue you for all past due payments and other charges and all payments due in
the future to the end of the Lease Term, plus our legal and collection costs. If you are in
default and/or do not meet your end of term obligations, we may also directly charge
and/or sue you for the “residual” (end of term) equipment value. You agree to pay a
surcharge of $30 if any payment made by ACH or check is dishonored or returned. This
Lease shall be governed by the laws of the State of Washington. You agree that any suit
relating to this Lease shall be brought only in a state or federal court in Washington, and
you irrevocably consent and submit to the jurisdiction of such courts. Each party waives
any right to a jury trial. We will have title to the equipment at all times. This is a “true
lease” and not a loan or installment sale. You grant us a first priority security interest in
the equipment and authorize us to file Uniform Commercial Code (“UCC”) financing
statements (in case this is later determined not to be a “true lease”). You agree this is a
“finance lease” under Article 2A of the UCC. You waive all UCC rights and remedies you
may have, including those in Sections 2A-508 through 2A-522.
5. Unless exempt, you must pay us for all sales, use, property and other taxes (and any
penalties) relating to the Lease and the equipment. We may adjust this Lease and the
payment above to finance for you any taxes due at Lease inception. We may bill you
based on our estimate of the taxes. You accept all risks of loss, injury or damage caused
by the equipment and shall indemnify us for all suits and other liabilities arising from the
same. This indemnity will continue through the term of the Lease. You must maintain
acceptable public liability insurance naming us as "additional insured". You must keep the
equipment insured against all risks of loss in an amount equal to the replacement cost
and have us listed on the policy as “loss payee.” If you do not give us proof of the
required insurance within 30 days after the Lease commences, then depending on the
original equipment cost we may charge you a monthly non-compliance fee up to $50
(which provides no insurance benefit). You can cancel the insurance coverage fee or non-
compliance fee at any time by delivering the required proof of insurance.
6. Since this Lease is based on your own credit rating, you may not assign (transfer) the
Lease to anyone else. We may sell or transfer our interests to another entity, who will
then have all of our rights but none of our obligations. Those obligations will continue to
be ours. The rights we pass on to the new entity will not be subject to any defenses, or
claims you may assert against us. All prior conversations, agreements, and
representations relating to this Lease or the equipment are integrated herein. None of the
terms of this Lease shall be changed or modified except in writing duly executed by you
and us. Any action by you against us must be commenced within one year after the cause
of action arises or be forever barred.
ACCEPTANCE OF LEASE AGREEMENT THIS IS A BINDING CONTRACT. IT CANNOT BE CANCELED. READ IT CAREFULLY BEFORE
SIGNING AND CALL US IF YOU HAVE ANY QUESTIONS.
_________________________________________________________________________________________________________
Signature of Leasing Customer Print Name of Signer Title Date
_________________________________________________________________________________________________________
Accepted and Signed by LESSOR Print Name of Signer Title Date
Personal Guaranty
I HEREBY PERSONALLY AND UNCONDITIONALLY GUARANTEE ALL AMOUNTS OWED BY THE LEASING CUSTOMER UNDER THIS LEASE. I AGREE THAT THE LESSOR MAY
EXTEND, TRANSFER AND AMEND THE LEASE AND I AGREE TO BE BOUND BY ALL SUCH CHANGES. I WAIVE ALL NOTICES, INCLUDING NOTICES OF DEMAND AND
DEFAULT. I AGREE THE LESSOR MAY PROCEED AGAINST ME SEPARATELY FROM THE LEASING CUSTOMER. I HAVE AUTHORIZED THE LESSOR AND ITS AFFILIATES AND
DESIGNEES TO USE MY CONSUMER CREDIT REPORTS FROM TIME TO TIME IN ITS CREDIT EVALUATION AND COLLECTION PROCESSES, AS WELL AS TO OFFER FUTURE
CREDIT PRODUCTS AND SERVICES. I AGREE THAT THE LEASE AND PERSONAL GUARANTY SHALL BE GOVERNED BY THE LAWS OF THE COMMONWEALTH OF
PENNSYLVANIA AND ANY SUIT RELATING TO THE LEASE OR PERSONAL GUARANTY SHALL BE BROUGHT ONLY IN A STATE OR FEDERAL COURT IN PENNSYLVANIA AND I
IRREVOCABLY CONSENT AND SUBMIT TO THE JURISDICTION OF SUCH COURTS, AND I WAIVE TRIAL BY JURY. I AGREE THAT MY FAXED SIGNATURE SHALL BE
CONSIDERED AS GOOD AS MY ORIGINAL SIGNATURE AND ADMISSIBLE IN COURT AS CONCLUSIVE EVIDENCE OF THIS PERSONAL GUARANTY.
___________________________________________________________________ ___________________________________________________________________
GUARANTOR #1 (Print Name) Signature (Individually; No Titles) Date GUARANTOR #2 (Print Name) Signature (Individually; No Titles) Date
A
cceptance of Deliver
y
I AM AUTHORIZED TO SIGN THIS CERTIFICATE ON BEHALF OF THE LEASING CUSTOMER. I CERTIFY TO THE LEASING COMPANY THAT THE EQUIPMENT HAS BEEN
DELIVERED AND IS FULLY INSTALLED AND WORKING PROPERLY. I AUTHORIZE THE LEASING COMPANY TO PAY THE VENDOR AND COMMENCE THE LEASE.
Authorized Signature Name and Title (Please Print) Equipment Delivery Date
source: emissiontestwa.com
