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Automobile Associate Lease

This AGREEMENT made the ................. day of .............. 20 ..

THIS LEASE is made BETWEEN:

................................ of .................................
('the Owner' ) of one part:

AND [Name] ("the Lessee")

RECITALS

.............................. ("the Owner") is the owner of a ........................................ motor vehicle.

Registration number ................................................ ("the Vehicle").

The Owner has agreed to Lease the vehicle to the Lessee.

******* The Lessee has undertaken to accept the obligation to make the payments due under this Lease during the term of the Lease ******

NOW THIS LEASE WITNESSES and the parties agree as follows:

This Lease shall commence on the ..................... day of ....................... 20 .. and shall continue until the ..... day of the............ month ("the Term") subject to early termination and herein provided and to be renewed thereafter by mutual negotiation between the Lessee and the owner.

The Owner hereby Leases the Vehicle to the Lessee for the Term.

The Lessee shall at all times during the Term pay to the owner the rent reserved by this Lease on the day and in the manner provided in this Lease. The total amount payable under this Lease is $....... every two weeks payable each payday commencing f/n ending .................

It is acknowledged that the Lessee may make the vehicle available for the use of the Owner and the Owner's associates. The Owner will be responsible for all maintenance costs and running costs (including registration, insurance, repairs, oil and fuel, etc) of the Vehicle during the Term of this Lease. This Lease may be terminated by four week's notice in writing from the Lessee.

The costs of incidental to the instructions for and the preparation, execution and stamping of this Lease and all applicable taxes and stamp duties and other out goings payable in respect of this Lease shall be borne and paid by the Lessee.

Events Constituting Lessee's Default. The occurrence of any of the following events shall constitute a default of Lessee under this Lease:

(a) Failure to Pay Rental. Lessee's failure to pay any monthly installment of rent within [number] days after the installment becomes due;

(b) Failure to Perform Other Obligations Under Lease. Lessee's failure to perform one or more of Lessee's other obligations under this Lease within [number] days after the Owner notifies Lessee that Lessee is in default; or

(c) Insolvency or Bankruptcy. The filing of a petition of bankruptcy by or against Lessee; the appointment of a receiver or trustee for all or part of Lessee's property; the making of an assignment for the benefit of Lessee's creditors.

Notices. All notices required by this Lease shall be sent by registered or certified mail, return receipt requested, addressed to the party to be notified at the address set out in this Lease, or at such other address as that party may have given the other in writing. Notice shall be deemed given when posted.

Termination of Lease. Upon the end of the term of this Lease or at the end of any extension of the term of this Lease, provided neither party is in default, Lessee shall deliver possession of the Vehicle to the Owner at [address] or such other address as may be reasonable and of which the Owner notifies Lessee no later than [number] months before the term or any extension of the term ends.

Severability. The illegality or invalidity of any provision of this Lease shall not affect the validity of the balance of this Lease.

Insurance. All risk of loss of the Vehicle or damage to it shall be borne by Lessee. Lessee, at Lessee's sole expense, shall obtain insurance against loss or damage to the Equipment by reason of fire and by reason of the other risks included in the standard extended coverage provisions of casualty insurance in amounts agreeable to the Owner. The policies shall be issued by insurance companies qualified to do business in the state in which the Vehicle is located. Losses, if any, shall be payable to the Owner. The insurance policies or satisfactory evidence of insurance shall be delivered to the Owner. Lessee's failure to obtain or maintain insurance shall constitute a default under this Lease, and, in such event, the Owner or [bank], as the Owner's assignee, may obtain the insurance, and the cost of the insurance so obtained shall be additional rent, due and payable by Lessee on demand.

Applicable Law. The laws of (State) shall be applied in construing this Lease regardless of where it is executed or where the Vehicle that is the subject matter of this Lease is located.

EXECUTED by the parties this...... day of ............. 20 ..

SIGNED by the said Owner: _______________________

SIGNED by the said Lessee: _______________________

Witnessed by:

Address: