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Equipment Lease Agreement
13. ENCUMBRANCES, TAXES AND OTHER LAWS: Lessee shall keep the
Equipment free and clear of any liens or other encumbrances, and shall not permit any act
where Lessor’s title or rights may be negatively affected. Lessee shall be responsible for
complying with and conforming to all laws and regulations relating to the possession, use
or maintenance of the Equipment. Furthermore, Lessee shall promptly pay all taxes, fees,
licenses and governmental charges, together with any penalties or interest thereon,
relating to the possession, use or maintenance of the Equipment.
14. LESSORS REPRESENTATIONS: Lessor represents and warrants that he/she has
the right to lease the Equipment as provided in this Agreement and that Lessee shall be
entitled to quietly hold and possess the Equipment, and Lessor will not interfere with that
right as long as Lessee pays the Rent in a timely manner and performs all other
obligations under this Agreement.
15. OWNERSHIP: The Equipment is and shall remain the exclusive property of Lessor.
16. SEVERABILITY: If any part or parts of this Agreement shall be held unenforceable
for any reason, the remainder of this Agreement shall continue in full force and effect. If
any provision of this Agreement is deemed invalid or unenforceable by any court of
competent jurisdiction, and if limiting such provision would make the provision valid,
then such provision shall be deemed to be construed as so limited.
17. ASSIGNMENT: Neither this Agreement nor Lessee’s rights hereunder are
assignable except with Lessor’s prior, written consent.
18. BINDING EFFECT: The covenants and conditions contained in the Agreement
shall apply to and bind the Parties and the heirs, legal representatives, successors and
permitted assigns of the Parties.
19. GOVERNING LAW: This Agreement shall be governed by and construed in
accordance with the laws of the State of ______________________________________.
20. NOTICE: Any notice required or otherwise given pursuant to this Agreement shall
be in writing and mailed certified return receipt requested, postage prepaid, or delivered
by overnight delivery service to:
Either party may change such addresses from time to time by providing notice as set