Sample Agreement for Borrowing Equipment
This Equipment Borrowing Agreement (“Agreement”) is entered into by and between the following parties:
[Your Name], with a principal address at [Your Address] (hereinafter referred to as "Lender")
and
Sigmund Corwin, with a principal address at Boston, MA 02102 (hereinafter referred to as "Borrower").
Purpose
The purpose of this Agreement is to outline the terms and conditions under which the Borrower is allowed to use the specified equipment owned by the Lender.
Equipment Description
The equipment subject to this Agreement includes the following item(s):
Term of Borrowing
The Borrower shall have the right to use the equipment from [Start Date] to [End Date], unless terminated earlier as set forth in this Agreement.
Conditions of Use
The Borrower agrees to use the equipment for its intended purpose and manner as per the manufacturer's instructions.
The Borrower shall not make any alterations, repairs, or modifications to the equipment without prior written consent from the Lender.
The Borrower assumes full responsibility for any loss, damage, or theft of the equipment during the term of this borrowing.
Return of Equipment
Upon the expiration or termination of this Agreement, the Borrower shall return the equipment to the Lender in the same condition as it was at the commencement of this Agreement, reasonable wear and tear excepted.
Liability and Indemnity
The Borrower agrees to indemnify, defend, and hold the Lender harmless from any and all claims, losses, liabilities, and damages resulting from the Borrower’s use of the equipment.
Termination
This Agreement may be terminated by either party for any reason with [Number] days of written notice to the other party.
Governing Law
This Agreement shall be governed, construed, and enforced in accordance with the laws of the State of [State/Country].
Entire Agreement
This Agreement constitutes the entire agreement between the parties regarding its subject matter and supersedes all prior agreements and understandings between the parties.
Signature/s
[Your Name]
Sigmund Corwin
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