Vehicle Lease Contract

Vehicle Lease Contract

This Vehicle Lease Contract ("Lease") is entered into as of by and between Lessor: , an entity (check applicable): Individual Corporation LLC , and Lessee: .

Recitals

WHEREAS, Lessor is the lawful owner of the motor vehicle described as: Year , Make , Model , VIN , Color , License Plate (collectively, the "Vehicle").

WHEREAS, Lessee desires to lease the Vehicle from Lessor for the period and on the terms set forth herein, and Lessor agrees to lease the Vehicle to Lessee under those terms.

WHEREAS, the parties intend that the Lease set forth the rights and obligations of each party with respect to the Vehicle.

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

1. Definitions

"Vehicle" means the motor vehicle described in the Recitals. "Commencement Date" means the date on which Lessee takes physical possession of the Vehicle. "Lease Term" means the period specified in Section 2 below. Terms used in this Lease have the meanings given to them in this Section unless otherwise defined elsewhere in this Lease.

2. Lease Term

The Lease Term shall begin on the Commencement Date: and shall terminate on unless earlier terminated in accordance with this Lease. Alternatively, the Lease Term may be expressed as a fixed period of months.

3. Rent and Payment

Lessee shall pay to Lessor rent in the amount of $ per month, payable in advance on or before the day of each month. Payments shall be made to Lessor at the address set forth in Section 14 or at such other place as Lessor designates in writing. Any payment not received within days after the due date shall accrue a late charge of $ and interest at the lesser of (a) the maximum lawful rate or (b) .

4. Security Deposit

Upon execution of this Lease, Lessee shall pay a security deposit of $ to secure performance of Lessee's obligations. Lessor may apply the deposit to cure defaults, repair damage beyond ordinary wear and tear, and satisfy other obligations. Lessor shall return any remaining deposit within days after termination, together with an itemized statement of deductions.

5. Taxes, Registration and Fees

Lessee shall be responsible for all registration fees, personal property taxes, vehicle license fees, and other governmental charges assessed against the Vehicle arising during the Lease Term, except for taxes assessed against Lessor's ownership interest in the Vehicle. Lessee shall promptly deliver evidence of registration and payment to Lessor upon request.

6. Use, Mileage and Operation

Lessee shall use the Vehicle in a careful and lawful manner and shall permit only authorized drivers to operate the Vehicle. The Vehicle shall not be used for hire, towing for compensation, racing, or other hazardous activities. Annual mileage shall not exceed miles. Excess mileage shall be charged at $ per mile.

7. Maintenance and Repairs

Lessee shall perform regular maintenance and minor repairs at Lessee's expense, including oil changes, tire rotation, and fluid checks, consistent with the manufacturer's recommendations. Lessor shall be responsible for preexisting defects expressly disclosed in writing. Lessee shall not make major repairs or modifications without Lessor's prior written consent.

8. Insurance

Lessee shall, at Lessee's sole cost, maintain commercial or personal automobile liability insurance and physical damage insurance covering the Vehicle, with limits no less than and coverage for collision and comprehensive with a deductible not to exceed $ . Lessor shall be named an additional insured and loss payee as applicable. Lessee shall provide certificates of insurance to Lessor upon execution and upon renewal.

9. Representations and Warranties

Lessor represents that it has good and marketable title to the Vehicle, free of liens and encumbrances except as disclosed to Lessee in writing. Lessee represents that all information provided to Lessor is true and that Lessee has the authority to enter this Lease. Each party covenants that it will comply with all laws applicable to its obligations under this Lease.

10. Default and Remedies

Events of default by Lessee include failure to pay rent or other amounts when due, failure to maintain required insurance, abandonment of the Vehicle, or material breach of this Lease. Upon default, Lessor may pursue any remedy available at law or in equity, including repossession of the Vehicle, acceleration of rent, and recovery of costs and attorneys' fees incurred in enforcing Lessor's rights. Lessee shall be liable for all costs reasonably incurred by Lessor in enforcing this Lease.

11. Return of Vehicle

Upon expiration or earlier termination of the Lease, Lessee shall return the Vehicle to Lessor at the location specified by Lessor in good operating condition, ordinary wear and tear excepted. Lessee shall be responsible for repair or payment for damage exceeding ordinary wear. The parties may execute a joint inspection report at return; if no joint report is made, Lessor's determination of damage shall be rebuttable only by clear evidence.

12. Indemnification

Lessee shall indemnify, defend and hold harmless Lessor and its agents from and against any and all claims, liabilities, losses, damages, costs and expenses (including attorneys' fees) arising from Lessee's use, possession or operation of the Vehicle, except to the extent caused by Lessor's gross negligence or willful misconduct.

13. Assignment and Subleasing

Lessee shall not assign its rights or delegate its obligations under this Lease, nor sublease the Vehicle, without Lessor's prior written consent, which consent may be withheld in Lessor's sole discretion. Any attempted assignment or sublease without consent shall be void and shall constitute an event of default.

14. Notices

All notices required or permitted hereunder shall be in writing and delivered by hand, certified mail (return receipt requested), or nationally recognized overnight courier to the addresses set forth below or to such other address as a party designates by notice in accordance with this Section. Notice shall be deemed given on the date of personal delivery, on the date of receipt shown on the return receipt, or on the next business day following dispatch by overnight courier.

15. Amendments and Waiver

No modification, amendment or waiver of any provision of this Lease shall be effective unless made in writing and signed by the party against whom enforcement is sought. No failure or delay by either party in exercising any right shall operate as a waiver of that or any other right.

16. Governing Law

This Lease shall be governed by and construed in accordance with the laws of the State of , without regard to its conflict of laws principles. The parties submit to the exclusive jurisdiction of the courts located in that state for disputes arising under this Lease.

17. Entire Agreement

This Lease, including any schedules or exhibits executed by the parties, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, representations and understandings, whether written or oral.

18. Severability

If any provision of this Lease is held invalid or unenforceable, the remaining provisions shall remain in full force and effect to the extent permitted by law.

19. Counterparts

This Lease may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same agreement. Delivery of an executed counterpart by electronic transmission shall be effective as delivery of a manually executed counterpart.

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