Free Horse Lease Agreement

This Horse Lease Agreement ("Agreement") is entered into on [date] ("Effective Date"), by and between: [Your Name], [Your Company Address], hereinafter referred to as the "Lessor", and [Lessee's Name], [Lessee's Address], hereinafter referred to as the "Lessee". Collectively referred to as the "Parties".

Background

The individual named as the Lessor in this Agreement stands as the legal owner of the horse that has been comprehensively described in this document. On the other hand, the individual referred to as the Lessee has expressed a keen interest in leasing the said horse. The terms of the lease, including its purpose, are extensively outlined in the factions of this Agreement.

1. Lease of Horse

1.1 The party designated as the Lessor herein, through this document, is officially leasing the specified horse, the specific attributes and characteristics of which are described comprehensively as follows:

• Name: Midnight Star

• Breed: Quarter Horse

• Age: 8 years old

• Color: Bay

• Identification: AQHA Registration Number: 123456

• Any distinguishing marks or features: White star on forehead, left hind sock, and snip on the nose

1.2 The term of the lease shall commence or begin to be in effect from the date of February 15, 2050. The termination or the end of the lease term will be on August 15, 2050. This period from February 15 to August 15, 2050, is herein referred to as the "Lease Term".

2. Lease Payments

The individual referred to as the Lessee agrees that they are compelled to make a payment to the person or party referred to as the Lessor. This payment, termed as a lease fee, is set at an amount of three hundred dollars for every passing month. It is expected of the Lessee to always make this designated payment in advance. Specifically, the stipulated time frame requires the Lessee to have fully settled the lease fee by the very first day of every new month.

3. Care and Maintenance

3.1 Throughout the lease term, the Lessee is in complete agreement and is fully committed to undertaking and providing the correct, appropriate, and meticulous care and maintenance for the horse. This care encompasses a wide variety of aspects. It includes but certainly is not limited to making sure that adequate and proper feeding procedures are practiced, regularly grooming the horse to ensure its comfort and well-being, as well as ensuring punctual and professional veterinary care when necessary.

3.2 The individual who is leasing, also known as the Lessee, is obligated to maintain the horse's health and physical condition in an optimum state. This should include providing the horse with suitable shelter to protect against environmental elements, ensuring the horse is receiving regular and appropriate levels of exercise for its well-being, and guaranteeing that the living conditions offered are suitable to the species and allow for comfortable habitation.

4. Insurance

4.1 The individual or party who is the Lessee has the responsibility, as dictated by the lease agreement terms, to ensure that they obtain and continuously maintain sufficient insurance coverage for the horse. This insurance coverage should be expansive and comprehensive to include various risks associated with handling and caring for the horse during the period that the Lease Term lasts. The coverage is expected to include, but is not necessarily limited to, potential scenarios such as the horse getting injured, falling ill, being stolen, or passing away.

4.2 The party who is leasing out the property, who shall be referred to as the Lessor, is required to be named as an additional insured party within the provisions and terms of the insurance policy.

5. Liability

5.1 During the duration of the lease term, the individual or entity leasing the horse, also known as the lessee, takes complete responsibility and accepts all potential hazards, dangers, or negative outcomes that may arise or occur in connection to the utilization and ownership of the horse.

5.2 The party that is leasing out the horse, otherwise known as the Lessor, shall be free from any legal responsibility or blame when it comes to any acts of harm, damage, or loss that are encountered or suffered by the party leasing the horse, referred to as the Lessee, or any other individual or organization not directly involved in the leasing agreement, that could potentially arise from making use of the horse. The only exceptions to this stance are instances where the Lessor has demonstrated gross negligence, which means they have shown a severe lack of care or have engaged in behavior that intentionally disregards the safety of others, or willful misconduct, which refers to actions deliberately carried out to cause harm or damage.

6. Termination

This Agreement may be terminated by either party upon delivering a written notice to the other party. However, it should be provided and understood that such termination of the Agreement will not have any effect on any rights or obligations that have been accrued before the date of termination.

7. Governing Law

This Agreement is going to be governed by and will be interpreted according to the laws of the specified State or Country, and this will be the case without consideration of its principles of conflict of law.

8. Entire Agreement

The present Agreement symbolizes, embraces, and establishes the complete understanding and agreement between the Parties involved, pertaining specifically to the subject matter discussed within this document. This Agreement efficiently invalidates, dismisses, and takes precedence over any pre-existing agreements or understandings that the Parties may have had before. These previous agreements could either be documented in writing or verbally communicated, as long as they concern and relate to the same subject matter addressed in this Agreement. This, therefore, stands as the latest and authoritative agreement between the Parties about the addressed subject matter.

9. Amendments

This Agreement cannot be amended or modified in any way unless such changes are put to paper in written form and assented to through a signature by all involved Parties. Only under such conditions, will any amendment or modification to this Agreement be considered valid.

10. Severability

In the eventuality where any stipulation, clause, or provision that is contained within this Agreement is deemed or judged as invalid or unenforceable, due to any circumstance, then despite such finding, all other remaining provisions, stipulations, or clauses that are contained within this Agreement retain their validity and enforceability. These remaining provisions will be effective to the fullest extent that is permissible under the current laws.

11. Counterparts

This Agreement holds the possibility of being brought into execution in several counterparts. Each of these counterparts should be viewed as an original entity. However, even though they are separate, collectively, these counterparts shall be recognized as making up the same legal instrument.

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date first above written.

[YOUR NAME]

[DATE SIGNED]

[LESSEE'S NAME]

[DATE SIGNED]

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