Truck Lease Agreement

Agreement to Purchase a Truck with Installment Payments and the Retention of a Vendor’s Lien by Seller and the Granting of a Security Interest by Buyer

Agreement made on the between of referred to herein as Buyer, and of referred to herein as Seller.

For and in consideration of the sum of $ and the promise to pay an additional amount of $ , and the mutual covenants contained in this Agreement, and other good and valuable consideration, the parties agree as follows:

1. Seller shall sell, transfer, and deliver to Buyer on or before (date of sale), the following motor vehicle:

One (1) Truck more particularly described as follows:

• Make

• Model

• Body Type

• Vehicle Identification Number (VIN)

• Year:

2. Except as qualified below, Seller guarantees that the said Truck is his own and free of all claims and offsets of any and all kinds. Except as qualified below, Seller hereby covenants to and with Buyer that:

A. Seller is the true and lawful owner of the above-described motor vehicle,

B. That the vehicle is free from all encumbrances whatsoever except the vendor’s lien retained by Seller and the security interest granted by Buyer,

C. That Seller has good right to sell the same as aforesaid, and

D. That Seller will warrant and defend the same against all lawful claims and demands whatsoever.

3. Waiver of Warranties

Seller is selling said motor vehicle in its as is and present condition and makes no warranty as to the condition of the motor vehicle and waives any implied warranty of fitness for a particular purpose or merchantability. By acceptance of the Bill of Sale, Buyer will be deemed to accept said motor vehicle in its as is and present condition and agrees that Seller has made no warranty as to the condition of the motor vehicle nor any implied warranty of fitness for a particular purpose or merchantability.

4. Consideration

The said purchase price or $ shall be paid by Buyer in monthly installments of $ each, with the first payment due days from the date of the last signature on this Agreement, the second payment due days from that date and the third payment due days from that date. If Seller is forced to initiate legal proceedings to enforce the terms of this Agreement, Buyer shall be responsible for any and all costs and attorneys' fees (including costs and attorneys' fees on appeal) incurred by Seller pursuant to the collection efforts.

5. Receipt Construed as Delivery

The Truck shall be deemed received by Buyer when delivered to Buyer at (e.g., address of Buyer)

6. Risk of Loss

The risk of loss from any casualty to the Truck, regardless of the cause, shall be on Seller until the Truck has been accepted by Buyer.

7. Right of Inspection

Buyer shall have the right to inspect the Truck on arrival and, within business days after delivery, Buyer must give notice to Seller of any claim for damages on account of condition, quality or grade of the Truck and Buyer must specify the basis of the claim of Buyer in detail. The failure of Buyer to comply with these conditions shall constitute irrevocable acceptance of the Truck by Buyer.

8. Vendor’s Lien

Seller shall, and does hereby retain a vendors’ lien in and to said Truck. Buyer does hereby grant to Seller a security interest in and to the Truck. This Agreement shall constitute a security agreement under Article 9 of the Uniform Commercial Code of (Name of State), the Code, with respect to the Truck covered by this Agreement. Buyer hereby appoints Seller as his attorney-in-fact to note this security interest on any certificate of title to said Truck and to execute and file on his behalf any financing statements, continuation statements or other statements in connection therewith which Seller deems necessary or reasonably advisable to preserve and maintain the priority of the lien hereof, or to extend the effectiveness thereof, under the Code or any other laws which may hereafter become applicable. Seller shall have all of the rights conferred upon a secured party by the Uniform Commercial Code of (Name of State). Seller may exercise any or all of the remedies of a secured party available to him under the Code with respect to such Truck, and it is expressly agreed that if upon default Seller should elect to dispose of the Truck in accordance with the provisions of the Code, ten (10) days' notice by Seller to Buyer shall be deemed to be reasonable notice under any provisions of the Code requiring such notice.

9. Severability

The invalidity of any portion of this Agreement will not and shall not be deemed to affect the validity of any other provision. If any provision of this Agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision.

10. No Waiver

The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as subsequently waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred.

11. Governing Law

This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of .

12. Notices

Any notice provided for or concerning this Agreement shall be in writing and shall be deemed sufficiently given when sent by certified or registered mail if sent to the respective address of each party as set forth at the beginning of this Agreement.

13. Attorney’s Fees

In the event that any lawsuit is filed in relation to this Agreement, the unsuccessful party in the action shall pay to the successful party, in addition to all the sums that either party may be called on to pay, a reasonable sum for the successful party's attorney fees.

14. Entire Agreement

This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement.

15. Modification of Agreement

Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party.

16. Assignment of Rights

The rights of each party under this Agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party.

17. In this Agreement, any reference to a party includes that party's heirs, executors, administrators, successors and assigns, singular includes plural and masculine includes feminine.

WITNESS our signatures as of the day and date first above stated.