Rental Contract

Fuel must be the same or above when returned. The Lessor named above hereby leases the equipment listed above (hereafter “Equipment”) to the above-named Lessee pursuant to the following terms and conditions INCLUDING THE ADDITIONAL TERMS AND CONDTITIONS SET OUT ON THE REVERSE SIDE HERE OF: • RENTAL TERM AND RATE: This lease shall be for a projected term stated in contract above. Equipment with hour meters equal: Day = 8 hours; Week = 40 hours; 4 Weeks = 160 hours. Overages will be charged at prorated price. The rental is payable in advance. Customers provides their own OSHA approved safety harness and lanyard when applicable. All payments to Lessor to be made at the above address. • USE OF EQUIPMENT AND INSPECTION: Except with the written consent of the Lessor, the Equipment will be operated out of, and, when not in use will be kept only at work location of rental agreement. Lessee shall, whenever requested, advise the Lessor of exact location of the Equipment and Lessor or its representatives may, for the purpose of inspection, at all reasonable times, enter upon any job, building or place where the Equipment is located. Lessor may remove the Equipment without notice to Lessee, if in the opinion of the Lessor, it is being improperly cared for, abused in any manner or being used beyond its capacity. The Equipment will be inspected upon return to the Lessor. Any damage by abuse will be charged to the Lessee. • RENTAL RESERVE: The Lessee has deposited with the Lessor as a rental reserve, to be applied at the time of final settlement as a credit to Lessee’s obligations hereunder, the sum of ________________ dollars, receipt of which is hereby acknowledged by Lessor. • LESSOR PROVIDES NO EQUIPMENT TRAINING: Lessee understands and agrees that the operation of the equipment requires skill and training and Lessor has not and will not provide any training or other instruction with respect to the operation of the equipment. Lessor shall not be liable to Lessee or any third party for death or injury occurring as a result of the operation of the equipment. Lessee herby assumes all risks associated with the operation of the equipment and shall indemnify and hold harmless from all claims, suits and other liabilities arising out of or in connection with operation of the equipment. • OPTION TO PURCHASE: Lessee, not being in default hereunder and having paid rentals covering the entire Rental Term shall, at any time prior to the expiration of such Rental Term, have the optional right to purchase the leased Equipment, by paying Lessor, the Amount of the “TOTAL AGREED VALUE” shown above and apply as part of such payment – 0 – percent of all rentals theretofore paid, together with the unexpended cash balance of any Rental Reserve which Lessee may have deposited with Lessor; it being understood that the remainder of such purchase price be paid in cash and/or a time payment purchase contract which effectively reserves title or a prior and paramount security interest in the Leased Equipment to Lessor or his assigns. • EXPIRATION: On or before the date this lease expires, unless the option to purchase hereunder is exercised. Lessee shall return the Equipment at its expense to the Lessor at a place designated by Lessor no more than fifty miles from the place where the Equipment was originally leased. If lessee fails to return the Equipment Promptly at the end of a term, additional rental shall be payable for each day the Equipment is so kept pro-rate at one and one half time the monthly rental. • INSURANCE: Lessee, at its own expense, will provide during the term of this lease, before any equipment covered by this lease is used, such insurance type and in amount satisfactory to the Lessor as is necessary to insure Lessor for and against any liability or loss for injury or death to any person or persons or for damage to any property resulting from or arising out of the use, possession, or operation by Lessee of any person herby Leased. Lessee will keep the equipment insured at its full insurable value against loss or damage to it resulting in collision, fire, or other casualties. Lessee shall deliver to Lessor policies or certificate of insurance naming Lessor as an insured and an agreement by the insuring company not to cancel such insurance without at least ten-day notice to Lessor. • WARRANTY: The standard manufacturer’s warranty, if any, in effect at time of delivery, shall be applicable to each new unit leased hereunder. • MAINTENANCE AND REPAIRS: Lessee shall be responsible for and pay the cost of all necessary repairs, maintenance, and replacements, and Lessor shall not be obligated to, nor called upon by Lessee to furnish or make or pay for any repairs to or upon the Equipment (except under the provisions of the warranty referred to in Paragraph 8), and all replacement parts, additions, repairs, and accessories incorporated in or affixed to any of the equipment included shall become a part thereof, and the title thereto shall vest in Lessor.

Equipment returned dirty, will be cleaned for a minimum cleaning fee of $200.00. The fee for cleaning asphalt will be time and chemicals to clean, with a minimum charge of $500.00.

It is agreed that during the term of this Lease, Lessee, at its cost and expense, will use said Equipment in a careful and prudent manner, keeping the same in good repair, properly housed when not in use, and operated only by competent drivers; will promptly pay all necessary license and registration fees and taxes assessed or charge thereon or for the thereof; will repair all damage done thereto the use of operations of said Equipment, will comply with and conform to all laws and regulations relating to the ownership, possession, use, or maintenance of the equipment, and hold Lessor harmless against actual or asserted violations; and will not use said Equipment for any other purpose than in the conduct of its business.

•	ASSIGNMENT BY LESSOR: Lessee will not sublet the Equipment or assign any of his rights hereunder.  Lessee agrees that Lessor may without notice to Lessee assign the Lease and/or all rent due or to become due hereunder and such assignee’s rights thereunder shall be independent of any claim of Lessee, and Lessee upon receipt of notice of any such assignment shall abide thereby and make payment as may therein be directed.  Following such assignment the term “Lessor” shall be deemed to include and refer to Lessor’s assignee as well as to Lessor.
•	DEFAULT: If Lessee shall fail to make any rental payment when due, shall sell or encumber the Equipment, shall cease operating, shall institute or have instituted against him proceeding under any bankruptcy or insolvency law, shall make an assignment for the benefit of creditors, or shall fail to comply with any other provision of this lease or if any attachment, execution, writ, or process is Levied agrees to deliver Equipment to Lessor on demand and Lessor may enter upon Lessee’s premises to the full extent allowed by the law and take possession thereof, and this Lease shall thereupon terminate and be forfeited at the option of Lessor.  In the event such action the Lessee agrees to pay all rentals due and to become terms of Lease, damages for any injury to the equipment, cost of removal of the equipment for the possession of Lessee, and all freight, storage, transportation and other charge incurred in such removal, shipping and return to Lessor at its place of business.
•	LIABILITY: Lessee assumes all risk, and will pay all costs and expenses of the character, arising from the use, possession, or maintenance of said equipment and agrees to indemnify and hold harmless Lessor from any and all loss or damage or claims for loss or damage (including attorney’s fees) for injury to or death of persons or property, including loss of use, caused by said equipment, or arising  out if the use, possession or maintenance thereof, and to give immediate written notice too Lessor of any such loss or damage, or loss of possession of said equipment occasioned by any cause whatsoever.
•	DESTRUCTION OR DAMAGE: If any equipment herby leased is destroyed, lost or stolen, Lessee shall not be relieved of its obligation to pay the full rental herein provided for the term of this lease.  Any sum paid to Lessor from insurance on such equipment shall be applied to the payment of the accrued and thereafter accruing rental hereunder.  If the leased equipment is damaged, there shall be no reduction of the amount payable hereunder, and Lessee shall immediately have such damage repaired at its cost and expense in which even Lessor, upon completion of such repairs shall pay Lessee such amount as shall be paid from insurance on account of such damage.
•	INTENT: It is mutually understood and agreed that no title or interest in the leased Equipment shall pass or insure to the Lessee except until and unless the Option to Purchase, as hereinbefore provided, shall first have been executed and completed.
•	GENERAL: Time is of the essence of this lease.  Lessor’s failure at any time to require strict performance by Lessee of any provision hereof shall not wave or diminish Lessors rights thereafter to demand strict compliance herewith or with any provision.  Waiver of any default shall not wave any other default. 

Any alteration or modification of this lease shall be in writing and signed by the parties hereto.

LESSEE ACKNOWLEDGES RECEIPT OF A SIGNED COPY HEREOF