Construction Equipment Agreement

CONSTRUCTION EQUIPMENT AGREEMENT

Parties and Effective Date

This Construction Equipment Agreement (the Agreement) is made and entered into as of (Effective Date), by and between:

WHEREAS

WHEREAS, Owner is the lawful owner of the construction equipment listed in the Equipment Schedule and has the right to lease such equipment; and

WHEREAS, Renter desires to rent such equipment for use in connection with construction operations at the Site described below and Owner is willing to rent such equipment under the terms and conditions set forth in this Agreement; and

NOW, THEREFORE, in consideration of the mutual covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the Parties agree as follows:

Definitions

"Equipment" means the items described on the Equipment Schedule attached to and incorporated in this Agreement. "Site" means the physical location where the Equipment will be used:

Equipment Schedule

List each piece of equipment, manufacturer/model, serial number, year, quantity and rental rate. Parties may attach additional pages if necessary.

1) Description: Make/Model: S/N: Year: Qty:

Rental Rate: $ per

2) Description: Make/Model: S/N: Year: Qty:

Rental Rate: $ per

Additional equipment lines may be added on an attached schedule and will be incorporated by reference once signed by both Parties.

Scope of Work

Payment Terms

Renter shall pay Owner the rental charges set forth in the Equipment Schedule and as further described below. The total estimated rental value for the initial term is: $.

Deposit/Security: $ payable upon execution and refundable in accordance with the terms of this Agreement.

Late Payment: Amounts not paid within days of the invoice due date shall accrue interest at per month (or the maximum lawful rate) plus a late fee of $.

Term and Termination

Term: This Agreement shall commence on and, unless earlier terminated in accordance with this Agreement, shall continue until .

Either Party may terminate this Agreement for convenience upon days' prior written notice. Either Party may terminate immediately upon written notice if the other Party materially breaches this Agreement and fails to cure such breach within days after receipt of written notice specifying the breach.

Delivery, Use, Maintenance and Return

Delivery Date: . Owner shall deliver Equipment to the Site at Owner's expense unless otherwise agreed in writing. Renter shall bear all operating costs, fuel, and routine maintenance unless Owner expressly agrees otherwise in writing.

Maintenance Responsibility: Owner responsible Renter responsible

Return: Renter shall return the Equipment in substantially the same condition as delivered, ordinary wear and tear excepted, to the location specified by Owner promptly upon expiration or termination of this Agreement. Renter shall be responsible for loss or damage to the Equipment while in Renter's possession.

Insurance and Indemnity

Insurance: Renter shall, at its sole expense, procure and maintain insurance covering liability for operation and use of the Equipment and property damage with limits not less than $ per occurrence and shall name Owner as an additional insured where applicable. Renter shall furnish certificates of insurance to Owner upon request.

Indemnity: Renter agrees to defend, indemnify and hold Owner harmless from and against any and all claims, liabilities, losses, costs and expenses (including reasonable attorneys' fees) arising out of Renter's use, operation, possession or control of the Equipment, except to the extent caused by Owner's gross negligence or willful misconduct.

Confidentiality

Each Party shall keep confidential and shall not disclose to any third party any non-public information or trade secrets obtained from the other Party in connection with this Agreement, except as required by law or as reasonably necessary to perform the obligations hereunder. Confidential information shall remain the property of the disclosing Party.

Default; Remedies

Upon default by either Party, the non-defaulting Party may pursue all remedies available at law or in equity, including acceleration of amounts due, repossession of Equipment, and recovery of costs and reasonable attorneys' fees. Repossession shall not relieve Renter of liability for rental charges accruing through the date of repossession and for damages.

Governing Law; Entire Agreement

This Agreement shall be governed by and construed in accordance with the laws of the state identified by the Parties as governing law: , without regard to its conflict of laws principles.

Entire Agreement: This Agreement, including the Equipment Schedule and any written attachments signed by the Parties, constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior negotiations and agreements, whether oral or written. Any amendment or modification must be in writing and signed by both Parties.

Miscellaneous Provisions

Assignment: Neither Party may assign its rights or delegate its obligations under this Agreement without the prior written consent of the other Party, except that Owner may assign to a financing institution as collateral.

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

Certification: Each person signing below represents and warrants that they are duly authorized to execute this Agreement on behalf of the Party for which they sign and that such Party agrees to be bound by the terms and conditions contained herein.

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