Gym Equipment Lease

By | August 9, 2011

A gym equipment lease is a document which highlights the terms by which an item of gym use is to be leased by a lessor to a lessee. Since it is a legal document, it must be adhered to rigidly otherwise it will incur the penalty of the law. A gym equipment lease must be worded correctly otherwise there will remain a trace of ambiguity. Hence it must be written after consultation with lawyers and the like, and must be written in an appropriate manner.

Sample Gym Equipment Lease:

The following is a gym equipment lease which testifies to the agreement between Mr. Jonson Burns of Health Gym [henceforth referred to as the lessee] and Mr. Robert Koilie of Electrical Equipments [henceforth referred to as the lessor] regarding the leasing by the lessee of five treadmills from the lessor. The items in question are brand new and care should be taken to ensure that they are submitted to the lessor in the same condition. The treadmills are each priced at $20000 each. The lessor will be paid an initial refundable security deposit of $20000 and then a monthly rent of $200 by the lessee. The duration of the gym equipment lease is two years. The date of commencement of the lease is 1st June 2011 and the date of the commencement of the lease is 1st June 2013.

The terms and conditions governing the gym equipment lease are detailed in the overleaf. They should be read carefully. All disputes arising with regard to this lease shall be tried by the Judiciary of New York State.

Signature of lessee: __________________________________

Signature of lessor: ___________________________________

Signature of advocate: _________________________________

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