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Personal Property Lease--Short Form
PERSONAL PROPERTY LEASE--SHORT FORM
SECTION ONE
DESCRIPTION OF PARTIES AND PROPERTY LEASED
[Name of Lessor], of [Address of Lessor], City of [City of Lessor], State of [State of Lessor], Country of [Country of Lessor] addressed as lessor in this agreement, leases to [Name of Lessee], of [Address of Lessee], City of [City of Lessee], State of [State of Lessee], Country of [Country of Lessee], addressed as lessee in this agreement, and lessee hires from lessor, the following described personal property: [Description of Property].
SECTION TWO
TERM OF LEASE
The term of this lease shall be [Duration of Lease in months] months, such term to commence on [First Date of Lease], and to terminate on [Last Date of Lease], unless otherwise terminated as provided in this lease.
SECTION THREE
RENT
In consideration for the leasing of the above-described property, lessee agrees to pay to lessor as rent for such property the sum of $ [Total Amount of Rent] Dollars per month, the first payment of which rent is payable on or before [First Date rent is due], and each subsequent payment of which is payable on or before the [Day of the month the rent is due] day of each month thereafter, during the entire term of the lease. Such payments shall be made at lessors address as set out in Section One of this lease.
SECTION FOUR
MAINTENANCE AND REPAIR
Lessee shall exercise due care in the use and maintenance of the leased property, keeping it in good repair and in a condition equivalent in all respects to that in which it was received by lessee, normal wear and tear excepted.
SECTION FIVE
ASSIGNMENT OR SUBLEASE
Lessee will not assign this lease or sublet the leased property unless the written consent of lessor to such assignment or sublease is first obtained.
SECTION SIX
DEFAULT
If lessee shall be in default of any of the rental payments, when the payments shall become due and payable as provided in this agreement, or shall remove or attempt to remove the leased property from without first obtaining the written consent of lessor, lessor shall, at his or her option, terminate this lease and lessees right to possession of the leased property, and lessor shall then without demand on or notice to lessee take possession of such leased property.
SECTION SEVEN
INSPECTION BY LESSOR
Lessor shall at all times during lessees business hours have the right to enter on the premises where the leased property is located for the purpose of inspecting the property.
SECTION EIGHT
RETURN OF PROPERTY
On expiration or earlier termination of this lease, lessee shall return, the leased property to lessor in good repair, ordinary wear and tear resulting from proper use of the property excepted.
SECTION NINE
INDEMNITY
Lessee will indemnify lessor against, and hold lessor harmless from, all claims, actions, proceedings, damages, and liabilities, including attorneys fees, arising from or connected with lessees possession, use, and return of the leased property.
SECTION TEN
APPLICABLE LAW
This lease and the construction of the lease will be governed by the laws of the State of [State of Jurisdiction].
SECTION ELEVEN
NOTICES
Any notices to be given under this lease shall be given by mailing the notices to lessor at [Address of Notice for Lessor], City of [City of Notice for Lessor] State of [State of Notice for Lessor], Country of [Country of Notice for Lessor] and to lessee at [Address of Notice for Lessee], City of [City of Notice for Lessee] State of [State of Notice for Lessee], Country of [Country of Notice for Lessor].
Dated [Date signed].
Signature
Signature