24ft Harris Flotebote Royal Heritage Pontoon on the Lake James chain

   EQUIPMENT LEASEThis Equipment Lease (this "Lease") is made effective as of May 01, 2022, between John Doe (the"Lessor")and Jane Smith (the "Lessee"), 123 Smith Street, Free, Indiana 99999, and states the agreement of the parties as follows:EQUIPMENT SUBJECT TO LEASE. The Lessor shall lease the equipment listed on the attached Exhibit"A".LOCATION OF EQUIPMENT. The equipment shall be located at Jimmerson Lake, Fremont, Indiana46737, during the lease term, and shall not be removed from that location without the Lessor's prior writtenconsent.CARE AND OPERATION OF EQUIPMENT. The equipment may only be used and operated in a carefuland proper manner. Its use must comply with all laws, ordinances, and regulations relating to the possession,use, or maintenance of the equipment, including registration and/or licensing requirements, if any.MAINTENANCE AND REPAIR. The Lessee shall maintain, at the Lessee's cost, the equipment in goodrepair and operating condition, allowing for reasonable wear and tear. Such costs shall include labor,material, parts, and similar items.LESSOR'S RIGHT OF INSPECTION. The Lessor shall have the right to inspect the equipment duringLessee's normal business hours.RETURN OF EQUIPMENT. At the end of the Lease term, the Lessee shall be obligated to return theequipment to the Lessor at the Lessee's expense.OPTION TO RENEW. If the Lessee is not in default upon the expiration of this lease, the Lessee shallhave the option to renew this Lease for a similar term on such terms as the parties may agree at the time ofsuch renewal.ACCEPTANCE OF EQUIPMENT. The Lessee shall inspect each item of equipment delivered pursuant tothis Lease. The Lessee shall immediately notify the Lessor of any discrepancies between such item ofequipment and the description of the equipment in the Equipment Schedule. If the Lessee fails to providesuch notice before accepting delivery of the equipment, the Lessee will be conclusively presumed to haveaccepted the equipment as specified in the Equipment Schedule. Please take before and after pictures of the entire boat and email them to HilltopBungalowBoatRental@gmail.com during your lease agreement.SECURITY DEPOSIT. In addition to the lease payment charge, the Lessee shall pay a security deposit of$500.00 at the time that this Lease is signed. Any amounts refundable to the Lessee shall be paid within 2 business days after this Lease is terminated, subject to the option of the Lessor to apply it against Lease charges and damages. The security deposit shall not bear interest.LEASE TERM. This Lease shall begin on the above effective date and shall terminate on May 07, 2022,unless otherwise terminated in a manner consistent with the terms of this Lease.PAYMENT TERMS. The total lease payment, based on a rate of $300.00 per day of use, is due andpayable at the time the equipment is returned. Charges will be computed from May 01, 2022 until theequipment is returned. Equipment requires a full tank of gas upon return or a $12.00 per gallon charge will be taken out of your security deposit. Please take note of the marina hours on the lakes.  OWNERSHIP AND STATUS OF EQUIPMENT. The equipment will be deemed to be personal property,regardless of the manner in which it may be attached to any other property. The primary covered Lessee signing this document is the only individual to operate the boat during the Lease agreement. If found guilty, the Lessee will forfeit their security deposit and will result in a voided contract with no refund.RISK OF LOSS OR DAMAGE. The Lessee assumes all risks of loss or damage to the equipment from anycause, and agrees to return it to the Lessor in the condition received from the Lessor, with the exception ofnormal wear and tear, unless otherwise provided in this Lease.INDEMNITY OF LESSOR FOR LOSS OR DAMAGES. Unless otherwise provided in this Lease, if theequipment is damaged or lost, the Lessor shall have the option of requiring the Lessee to repair theequipment to a state of good working order, or replace the equipment with like equipment in good repair,which equipment shall become the property of the Lessor and subject to this Lease.LIABILITY AND INDEMNITY. Liability for injury, disability, and death of workers and other personscaused by operating, handling, or transporting the equipment during the term of this Lease is the obligationof the Lessee, and the Lessee shall indemnify and hold the Lessor harmless from and against all suchliability. Lessee shall maintain liability insurance of at least $100,000.00.CASUALTY INSURANCE. The Lessee shall insure the equipment in an amount sufficient to cover thereplacement cost of the equipment.DEFAULT. The occurrence of any of the following shall constitute a default under this Lease:A. The failure to make a required payment under this Lease when due.B. The violation of any other provision or requirement that is not corrected within 0 day(s) after writtennotice of the violation is given.C. The insolvency or bankruptcy of the Lessee.D. The subjection of any of Lessee's property to any levy, seizure, assignment, application or sale for orby any creditor or government agency.RIGHTS ON DEFAULT. In addition to any other rights afforded the Lessor by law, if the Lessee is indefault under this Lease, without notice to or demand on the Lessee, the Lessor may take possession of theequipment as provided by law, deduct the costs of recovery (including attorney fees and legal costs), repair,and related costs, and hold the Lessee responsible for any deficiency. The rights and remedies of the Lessorprovided by law and this Agreement shall be cumulative in nature. The Lessor shall be obligated to re-leasethe equipment, or otherwise mitigate the damages from the default, only as required by law.NOTICE. All notices required or permitted under this Lease shall be deemed delivered when delivered inperson or by mail, postage prepaid, addressed to the appropriate party at the address shown for that party atthe beginning of this Lease.ENTIRE AGREEMENT AND MODIFICATION. This Lease constitutes the entire agreement betweenthe parties. No modification or amendment of this Lease shall be effective unless in writing and signed byboth parties. This Lease replaces any and all prior agreements between the parties.GOVERNING LAW. This Lease shall be construed in accordance with the laws of the State of Indiana.  SEVERABILITY. If any portion of this Lease shall be held to be invalid or unenforceable for any reason,the remaining provisions shall continue to be valid and enforceable. If a court finds that any provision of thisLease is invalid or unenforceable, but that by limiting such provision, it would become valid andenforceable, then such provision shall be deemed to be written, construed, and enforced as so limited.WAIVER. The failure of either party to enforce any provision of this Lease shall not be construed as awaiver or limitation of that party's right to subsequently enforce and compel strict compliance with everyprovision of this Lease.CERTIFICATION. Lessee certifies that the application, statements, trade references, and financial reportssubmitted to Lessor are true and correct and any material misrepresentation will constitute a default underthis Lease.DISPUTE RESOLUTION. The parties will attempt to resolve any dispute arising out of or relating to thisAgreement through friendly negotiations amongst the parties. If the matter is not resolved by negotiation, theparties will resolve the dispute using the below Alternative Dispute Resolution (ADR) procedure.Any controversies or disputes arising out of or relating to this Agreement will be submitted to mediation inaccordance with any statutory rules of mediation. If mediation does not successfully resolve the dispute, theparties may proceed to seek an alternative form of resolution in accordance with any other rights andremedies afforded to them by law.SIGNATORIES. This Lease shall be signed by John Doe and by Jane Smith and shall be effective as of thedate first above written.