Machinery Lease Agreement Format India

2. During the duration of the agreement, the tenant pays the landlord, without prior request, as rent for the rental of said machine, the monthly sum of Rs…………. for the use and possession of said machine, make the first payment ………… Day of ………… 19 …….. then and any subsequent payment on the ………… Day of each subsequent month during this period. AND At the tenant`s request, the landlord agreed to rent the machine in question to the tenant on the conditions of the machines appear below. 1. The owner rents and the tenant rents the machine listed below (hereafter referred to as this machine) of ………… for a term of ………. Years. 5.

The tenant must keep the machines mentioned at the Rs. level insured…………. against fire and loss, damage or risks of any cause that occur with an insurance company on behalf of the owner, and the policy of that insurance to deliver to the owner and pay properly and occasionally all the premium necessary for the implementation and maintenance of this insurance and establish the receipt for all these payments to the owner on request and the owner of any losses or damage caused to said said Machine of all the same reasons that are equal, can be released from all the damage caused to this machine. This instrument constitutes the whole agreement between the parties on the purpose of this agreement and can only be amended, amended or amended by another act signed by the parties. Renter heresover rents to the tenant and the tenant rents attached the equipment described below (the “equipment”): [Equipment] . The landlord wants to rent to the tenant, and the tenant wants to rent some of the demeurier`s personal belongings. 11. The time or leniency granted by the owner does not affect the owner`s strict rights under this contract. 3. The tenant will not sell, sell, mortgage or use the machine in question, but will keep these machines in his possession and will not remove these machines from the premises where these machines are installed without the prior consent of the owner.

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