A garage equipment lease is a document that contains the various details of a lease agreement wherein the subject is the sale or renting of garage equipment, on lease, for a definite span of time. This type of a text is generally legal and should include all the clauses that frame it, thereby ensuring transparency of legal proceedings.
Sample Garage Equipment Lease:
Lease number: 629347
This garage equipment lease is to confirm that I, Jerome Oxford, as lessee, have leased a wheel alignment equipment [model no. HQ 47283] from lessor Steve McKinley, the owner of United Garage, on the 7th day of November, 2011 and have agreed upon the last date of validity to be the 8th of November, 2014. The other details of the lease include:
- Validity date(s): 7th November, 2011 – 8th November, 2014
- Cheque has been issued for an initial payment of $562500 [cheque no.: 38429] while the remaining $82300 will be cleared after the completion of the term of lease.
- Identity and residential proofs and also company license and income tax records have been duly submitted in form of attested photocopies.
- The deed has been witnessed by: Lauren Cornfield [advocate]
- The equipment will be in its warranty period upto the 7th of November, 2012, during which any complications will be directly referred to the lessor.
- However, any external or internal damage caused to the equipment will be the sole responsibility of the lessee who will supposedly be penalized for having caused a breach of contract, either by having to pay a fine of $75000 or being in prison for upto three years.
[Signature of lessee]
[Signature of lesser]