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Commercial Equipment Lease & Security Agreement

[Name], referred to as Leasing Company and [Name], referred to as Customer, agree:

Customer shall lease from Leasing Company the following items:

Leasing Company shall purchase the items set forth above as Customer'S agent. Leasing Company provides no warranty upon the goods, and the sole warranty shall be that offered, if any, by the Manufacturers and sellers of the leased equipment.

The equipment shall be located at:

and may not be moved without prior approval of Leasing Company.

All expenses of delivery, set up and taxes of the leased goods shall be paid directly by Customer to the providers of such services.

Customer shall maintain insurance coverage, at its expense, upon the leased property with broad form coverage through an insurance carrier authorized to transact business in the State of (State) acceptable to Leasing Company, which approval shall not be unreasonably withheld.

Customer agrees to pay Leasing Company the total sum of $------- in consideration of the lease of the equipment, to be paid in 24 installments due every (--) days, with the first payment due on [Date]. Upon the failure of Customer to pay any installment due, or to comply with the provisions of this lease agreement, the Leasing Company may accelerate the payment of all remaining sums due. The Customer shall pay all taxes and levies upon the equipment.

Upon default the Leasing Company may take possession of the leased items, and may enter the premises of Customer to do so.

Customer shall have the option to purchase the leased equipment at the conclusion of the term of the lease, provided that all payments have been made, for the sum of $------. Should Customer decline to exercise this option, Customer shall return the equipment, at its expense, to Leasing Company.

The customer shall be responsible for all maintenance upon the leased items, and shall keep the equipment in good operating condition.

Upon default, Customer agrees to pay any and all costs of collection including attorney's fees incurred by Leasing Company. Customer shall not move the leased items without the prior approval of Leasing Company.

Customer agrees to execute financing statements or other documents reasonably required by Leasing Company.





Leasing Company

*** If Required By State Law ***

This Section for Notary:


State of _________

County of ________ [COUNTY]

On [DATE] before me, [NAME OF NOTARY], notary, personally appeared [NAME OF PERSON(S) INVOLVED], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

Witness my hand and official seal.

Signature ________

My commission expires: _____