Equipment Rental Agreement
EQUIPMENT RENTAL AGREEMENT
This Equipment Rental Agreement ("Agreement") is made on January 10, 2050, by and between Swift Rentals, a company incorporated under the laws, with its principal place of business at 505 Redwood Road, Apt 22, Pineville, GA 30303, hereinafter referred to as "Licensor", and Peak Builders, a company incorporated under the laws, with its principal place of business at 303 Elm Road, #678, Meadowville, GA 30304, hereinafter referred to as "Licensee" (collectively referred to as the "Parties").
1. EQUIPMENT
Subject to the terms and conditions of this Agreement, the Licensor rents to the Licensee, and the Licensee rents from the Licensor, the TurboMixer 5000, hereinafter referred to as "Equipment".
2. RENTAL TERM
This Agreement starts on January 10, 2050, and will continue until January 10, 2055.
3. RENTAL PAYMENT
The licensee agrees to pay to Licensor rental fees as set forth in $250 payable on the 9th of each month.
4. SECURITY DEPOSIT
Upon execution of this Agreement, the Licensee will deposit with the Licensor the sum of $1000 as security for performance by the Licensee of the terms under this Agreement and for any damages caused by the Licensee or Licensee's agents to the Equipment during the Rental Term.
5. MAINTENANCE AND REPAIR
The licensee shall be responsible for all routine maintenance. In the event of a breakdown or damage to the Equipment, Licensee will be responsible for all necessary repairs.
6. INSURANCE
The licensee shall maintain, at the Licensee's expense, liability, theft, and damage insurance insuring the Equipment against all losses.
7. INDEMNITY
The licensee agrees to indemnify and hold the Licensor harmless from any and all liability, loss, costs, damages, and expenses that the Licensor may suffer as a result of claims, demands, suits, or proceedings against the Licensor by any persons whatsoever, arising from any incident involving the Equipment during the Rental Term.
8. DEFAULT
If the Licensee fails to comply with any of the terms of this Agreement, the Licensor may terminate this Agreement with immediate effect and repossess the Equipment.
9. ENTIRE AGREEMENT
This Agreement contains the entire agreement between the Parties and supersedes any previous understanding, commitments, or agreements, oral or written.
10. GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of Georgia.
SIGNATURES:
_____________________________ ____________________________
Licensor: Swift Rentals Licensee: Peak Builders
Date: January 10, 2050 Date: January 10, 2050
