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Rental Agreement-Generic
RENTAL AGREEMENT-GENERIC
This Agreement is made [Date of Agreement], by and between [Name of Lessor] "Lessor" of [Address of Lessor], [City of Lessor], [State of Lessor] and [Name of Lessee], Inc. of [Address of Lessee], [City of Lessee], [State of Lessee] "Lessee". Lessor and Lessee state and acknowledge as follows:
PROPERTY
The Owner warrants that to the Best of [his/her] knowledge and belief the aforesaid property in free of faults or deficiencies which would affect its safe and dependable operation under normal and prudent usage.
RENTAL PERIOD
The Owner agrees to rent the above described property to the Renter for a period of [Period of rental], beginning [Start Date of rental], and ending [End Date of rental].
USE OF PROPERTY
The Renter further agrees that the rented property
[1] shall; not be used beyond any rated capacity;
[2] shall Not Be used for any illegal purpose;
[3] shall not be used in any manner for which it was not designed, built, or designated by the manufacturer;
[4] will not be used in a negligent manner;
[5] will not be operated by any other person without the written permission of the Owner; and
[6] will not be removed from the designated area of use or operation.
AREA OF USE OR OPERATION
The Renter agrees to operate / use the above described property only at the following location or within the following described area(s):
INSURANCE
The Renter hereby agrees that he / she shall fully indemnify the Owner for any and all damage to or loss of the rented property and any accessories or related equipment during the term of this Agreement whether caused by fire, theft, flood, vandalism, or any other cause, except that which shall be determined to have been caused by a fault or deficiency of the rented property, accessories, or equipment.
RENTAL RATE
The Renter hereby agrees to pay the Owner at the rate of $ [Rent Amount] per [Rental period payment] for the use of said property and any accessories / equipment. Any fuel used shall be paid for by the Renter.
DEPOSIT
The Renter further agrees to make a deposit of $ with the Owner, said deposit to be used, in the event of loss of or damage to the rented property and any accessories / equipment during the term of this Agreement, to defray fully or partially the cost of necessary repairs or replacement. In the absence of any damage of loss, said deposit shall be credited toward payment of the rental fee and any excess shall be returned to the Renter.
RETURN OF PROPERTY TO OWNER
The Renter hereby agrees to return the rented property and any accessories / equipment to the Owner at no later than .
TERMINATION OF AGREEMENT
It is mutually agreed that the Renter shall have the right to terminate this Agreement at any time by payment of one full days rental for each 24-hour period or any part thereof, during which the Renter has retained possession of the property and any accessories / equipment during the term of this Agreement.
IN WITNESS WHEREOF, the parties hereto hereby execute this Agreement.
Signed:
[Name of Lessor]
Signed:
[Name of Lessee]