TRUCK LEASE AGREEMENT

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1. Introduction

This Truck Lease Agreement ("Agreement") is entered into as of [Insert Date], between [Your Company Name], with a principal place of business at [Your Company Address], hereinafter referred to as "Lessor," and [Lessee's Name], with a principal place of business at [Lessee's Address], hereinafter referred to as "Lessee."

2. Description of Truck

Make: Ford

Model: F-150

Year: 2050

Vehicle Identification Number (VIN): 1234567890

License Plate Number: ABC123

3. Lease Term

Commencement Date: [Date]

Termination Date: [Date]

Renewal Options (if any): One-time renewal option for an additional three months

4. Lease Payments

Amount: $1,500

Frequency: Monthly

Method of Payment: Electronic transfer

Late Payment Charges: 5% of the overdue amount

Security Deposit: $1,000

5. Maintenance and Repairs

5.1 Responsibilities of the Lessor

The Lessor shall be responsible for routine maintenance and repairs arising from normal wear and tear.

5.2 Responsibilities of the Lessee

The Lessee shall be responsible for any damages beyond normal wear and tear.

6. Insurance

6.1 Requirements

The person or entity who is leasing the truck referred to in this contract as the Lessee, is under a contractual obligation to ensure that comprehensive insurance coverage is maintained at all times specifically for the truck that is subject to this lease.

6.2 Responsibility for Premiums

The individual who is leasing the property, also known as the Lessee, shall take on the responsibility for the payment of all insurance premiums related to the leased property.

7. Use of the Truck

7.1 Permitted Use

The Lessee shall use the truck solely for transporting goods within the state.

7.2 Prohibited Use

The Lessee shall not use the truck for illegal activities or for towing other vehicles.

8. Return of Truck

8.1 Condition

The Lessee shall return the truck in a clean and well-maintained condition, except for normal wear and tear.

8.2 Inspection Process

The truck shall be inspected by both parties upon return to assess any damages or discrepancies.

8.3 Return Location

The Lessee shall return the truck to [Insert Return Location].

9. Default

9.1 Events of Default

Events of default include failure to make lease payments, breach of permitted use, or failure to maintain insurance coverage.

9.2 Remedies

In the event of default, the Lessor may terminate the lease and pursue legal remedies for damages.

10. Governing Law

10.1 Jurisdiction

This Agreement shall be governed by and construed under the laws of [Jurisdiction].

10.2 Dispute Resolution

Any disputes arising out of or in connection with this Agreement shall be resolved through [Insert Dispute Resolution Mechanism].

11. Miscellaneous

11.1 Entire Agreement

This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether oral or written.

11.2 Amendments

Any amendments to this Agreement must be made in writing and signed by both parties.

11.3 Severability

If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

11.4 Notices

All notices and communications required or permitted under this Agreement shall be in writing and delivered to the respective addresses of the parties.

12. Signatures

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

[Your Name]

[DATE SIGNED]

[Lessee's Name]

[DATE SIGNED]

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