Free Truck Lease Agreement

I. Introduction

This Truck Lease Agreement ("Agreement") is entered into as of May 15, 2050, between [Your Company Name], with a principal place of business at [Your Company Address], after this referred to as "Lessor," and Nadette Ritchie, with a principal place of business at Salem, OR 97301, starting now referred to as "Lessee."

II. Description of Truck

III. Lease Term

• Commencement Date: June 1, 2050

• Termination Date: June 1, 2051

• Renewal Options: One-time renewal option for an additional three months

IV. Lease Payments

V. Maintenance and Repairs

5.1 Responsibilities of the Lessor

The Lessor shall be responsible for routine maintenance and repairs arising from normal wear and tear, including:

• Oil changes

• Tire rotations

• Brake inspections

5.2 Responsibilities of the Lessee

The Lessee shall be responsible for any damages beyond normal wear and tear, including:

• Accidents or collisions

• Damage to the truck’s exterior or interior

• Misuse of the vehicle

VI. Insurance

6.1 Requirements

The Lessee is required to maintain comprehensive insurance coverage at all times specifically for the truck subject to this lease, including:

• Collision Coverage

• Liability Coverage

• Comprehensive Coverage

6.2 Responsibility for Premiums

The Lessee shall bear the full responsibility for paying all premiums related to the insurance policy for the duration of the lease.

VII. Use of the Truck

7.1 Permitted Use

The Lessee shall use the truck solely to transport goods within the state of Texas and ensure that the truck is not used outside of state boundaries without prior written consent from the Lessor.

7.2 Prohibited Use

The Lessee agrees not to use the truck for the following:

• Illegal activities

• Towing of other vehicles

• Transporting hazardous materials

VIII. Return of Truck

8.1 Condition

The truck must be returned in a clean and well-maintained condition, except for normal wear and tear.

8.2 Inspection Process

Upon return, both parties will inspect the truck to assess:

• Exterior damage

• Interior cleanliness

• Functional conditions

8.3 Return Location

The truck shall be returned to [Your Company Name], located at [Your Company Address].

IX. Default

9.1 Events of Default

Events of default include, but are not limited to:

• Failure to make lease payments within 10 days of the due date

• Unauthorized use of the truck

• Failure to maintain insurance coverage

9.2 Remedies

In the event of default, the Lessor may:

• Terminate the lease immediately

• Pursue legal remedies for any damages caused by default

X. Governing Law

10.1 Jurisdiction

This Agreement shall be governed by and construed under the laws of the state of Texas.

10.2 Dispute Resolution

Any disputes arising out of or in connection with this Agreement shall be resolved through arbitration in Dallas, Texas.

XI. Miscellaneous

11.1 Entire Agreement

This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements, whether oral or written, concerning the subject matter of this Agreement.

11.2 Amendments

Any amendments to this Agreement must be made in writing and signed by both parties.

11.3 Severability

If any provision of this Agreement is deemed invalid or unenforceable, the remaining provisions shall continue in full force and effect.

11.4 Notices

All notices required under this Agreement shall be delivered in writing to the following addresses:

• Lessor: [Your Company Name], [Your Company Address]

• Lessee: Nadette Ritchie, Salem, OR 97301

XII. Signatures

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

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