Equipment Rental Policies
According to our standard agreement, LESSEE (as specified above under “Customer Name”) agrees to lease from Apex Equipment Services, LLC (hereinafter referred to as “lessor”) the machine, vehicle, any licensed and unlicensed trailers and motor vehicles, equipment, attachments, and accessories described above (hereinafter referred to as “equipment”) for the period, pursuant to the terms, and at the rates set forth above and on the previous page(s).
- Rental Payments: Payment is due upon receipt of invoice. Net 30 payment terms shall apply. Lessee is also obligated to pay for any additional costs as outlined above and on the previous page(s) including freight, taxes, and fuel. The term of this lease shall begin as of the date indicated above and shall continue a month-to-month basis until terminated by either party after the terminating party gives the non-terminating party a (15) day written notice of its intent to terminate the lease. Upon termination of the lease, Lessee shall return the equipment to Lessor at Lessee’s expense in the same or similar condition as of the date this lease is signed minus normal wear and tear.
- Insurance: Lessee must provide and maintain, at its expense, insurance against all risks of damage to and loss (including theft) or destruction of the equipment for an amount not less than for the value of the equipment at the time Lessee takes possession of the equipment and full coverage for all liabilities, claims, fines and penalties for damages as a result of the equipment, including, but not limited to, leaks and spills. Lessee’s liability insurance shall be maintained in an amount no less than $1 million per occurrence and not less than $2 million in the aggregate. The insurance will be occurrence-based (as opposed to claims made), will include Lessor as a named insured without liability for premiums, and will provide for at least (30) days prior written notice to Lessor of cancellation or nonrenewal and of any material change in the above coverage.
- Repairs; Indemnification: Lessee shall, at its expense, keep the equipment in good repair, condition and working order, less normal wear and tear and furnish all labor, parts, materials, and supplies required therefore. Lessee shall indemnify, defend and hold Lessor harmless from any and all claims, loss, liens, fines, penalties, lawsuits, damages, injury and death and pay any and all loss, damage, fine, or penalty arising in connection with (i) this lease, (ii) the delivery, possession, use, operation or return of the equipment, or (iii) any condition of or other matter relating to the equipment during the term of this lease regardless of how or when the condition arose and regardless of whether it arose out of any act, omission or negligence of Lessor, or (iv) any other matter relating to the equipment after the term of this lease to the extent such matter arises from a condition that arose or a modification, addition or change that was made during the term of this lease or at any other time when the equipment was in the possession or under the control of Lessee, or (v) the failure by lessee to perform any of its obligations under this lease. Lessee shall be solely responsible to ensure the equipment shall at all times be operated in a careful, safe and proper manner and in compliance with all applicable laws, rules, regulations, ordinances, and insurance requirements including, but not limited to Spill Prevention, Control and Countermeasure (SPCC) regulations. Lessee will pay any expenses and costs (including, without limitation, legal fees and disbursements, court costs and the cost of appellate proceedings) which Lessor incurs in enforcing or defending (i) any of its rights or remedies under the lease or otherwise granted to it by law or in equity, or (ii) any provision of this lease, or (iii) any of lessee’s obligations under this lease. Lessor shall have the option to put forth its own defense at lessee’s cost. The provisions of this section shall survive termination of this lease.
- Loss; Damage: Lessee assumes and shall bear the risk of damage to the equipment from any cause whatsoever, regardless of whether the risk is insured. If the equipment is damaged or partially lost or destroyed, lessee shall, at its expense, promptly repair the equipment in a permanent manner, using only the best parts and materials that are available, and in a manner acceptable to Lessor. If the equipment is totally lost (including by theft) or destroyed or if it becomes a constructive, agreed or compromised total loss, lessee shall promptly pay the lessor the value of the equipment at the time lessee takes possession of the equipment. Lessee will promptly notify lessor of any damage to or loss or destruction or theft of the equipment or of any part thereof with full details of the occurrence. Lessee will ensure equipment is properly secured and/or contact lessor to timely remove equipment, in event of dangerous weather event, including, but not limited to, flood, hurricane, tornado, or terrorism. If the equipment is returned in a damaged or excessively worn condition, lessee shall pay lessor the reasonable cost of repair and shall pay rental on the equipment at ½, the regular rental rate until repairs are completed.
- Disclaimer of Warranty: Lessor has not made and does not make any representation, warranty of covenant of any kind, express or implied, with respect to the equipment, its design, condition, operation, durability, suitability or fitness for use for any purpose, or merchantability. Lessee has inspected and is fully familiar with the equipment and accepts the equipment “as is” with any and all faults.
- Usage: Rental rates are based on regular equipment usage. Overtime charges shall apply if equipment usage exceeds 8 hours per day, 40 hours per week, or 160 hours per month.
To download a copy of our Lease Agreement please click here for a Word Document:
