Equipment Lease Agreement Template

Generate an Equipment Lease Agreement for the following arrangement:

Lessor: {{LESSOR_NAME}}
Lessee: {{LESSEE_NAME}}
Equipment: {{EQUIPMENT_DESCRIPTION}}
Lease Term: {{LEASE_TERM}}
Monthly Payment: {{MONTHLY_PAYMENT}}
Location: {{EQUIPMENT_LOCATION}}

Create a comprehensive equipment lease including:

1. EQUIPMENT DESCRIPTION
- Detailed equipment description
- Serial numbers/identification
- Condition at delivery
- Accessories and attachments
- Documentation provided

2. LEASE TERM
- Commencement date
- Lease duration
- Renewal options
- Early termination
- Month-to-month conversion

3. RENT AND PAYMENT
- Monthly rental amount
- Due date
- Payment method
- Late fees
- Security deposit
- Advance payments

4. DELIVERY AND ACCEPTANCE
- Delivery arrangements
- Delivery costs
- Acceptance period
- Acceptance certificate
- Rejection procedures

5. USE AND OPERATION
- Permitted uses
- Location restrictions
- Operating requirements
- Maintenance obligations
- Prohibited uses

6. MAINTENANCE AND REPAIRS
- Lessee maintenance duties
- Lessor maintenance responsibilities
- Repair procedures
- Replacement parts
- Maintenance records

7. INSURANCE
- Required coverage types
- Coverage amounts
- Lessor as additional insured
- Insurance certificates
- Self-insurance (if allowed)

8. RISK OF LOSS
- Risk allocation
- Casualty procedures
- Replacement obligations
- Insurance proceeds

9. MODIFICATIONS
- Modification restrictions
- Approval requirements
- Removal at term end
- Title to modifications

10. DEFAULT
- Events of default
- Cure periods
- Lessor remedies
- Lessee remedies
- Repossession rights

11. RETURN OF EQUIPMENT
- Return condition
- Packing and shipping
- Return location
- Inspection procedures
- Damage assessment

12. END-OF-TERM OPTIONS
- Purchase option
- Purchase price calculation
- Renewal option
- Return procedures

13. INDEMNIFICATION AND LIABILITY
- Lessee indemnification
- Lessor indemnification
- Limitation of liability

14. OWNERSHIP
- Lessor ownership
- No security interest by lessee
- Lessee's limited interest
- UCC filing rights

Include equipment schedule and maintenance requirements as exhibits.