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Lease Agreement
This Lease Agreement is made and entered into on this Date _________________, by and between CTVCam / Centex Security Cameras, hereinafter referred to as the "Seller" and, [ ], hereinafter referred to as the "Buyer."
Seller agrees to lease to the Buyer and the Buyer agrees to lease from Seller the following equipment:
Network VR, Serial / Model #____________________________________________________
Security Cameras Model#: ______________________________________________________
Doorbell Camera Model#: ______________________________________________________
Flood Light Camera Model#: ____________________________________________________
2. Term
The term of this lease shall commence on [ ] and shall continue until [ ], unless terminated earlier in accordance with the provisions of this Agreement.
There is no renewal date, this lease expires upon completion of the full payment, at which time the buyer will receive documents of ownership.
The Tenant agrees to pay to the Seller a lease payment for the equipment stated above the sum of [ ] per month, payable in advance on the first day of each month. For a total payment of ( ) until paid in full
If any Lease payment is not received by the Seller within [the grace period of 5 days] after the due date, the Tenant shall pay a late fee of [$45.00].
Upon the execution of this Agreement, the Buyer shall deposit with the Seller the sum of 40% [ ] as a security deposit / down payment. The security deposit / down payment shall be held by the Seller as security for the performance of the Buyer's obligations under this Agreement.
The Buyer shall promptly notify the Seller of any damage or needed repairs, specifically those cause by negligence or misuse of the Lease equipment. The Buyer shall be responsible for major repairs or replacement of all equipment under this agreement except those caused during the manufacturer warranty period.
The Buyer is advised to obtain Property insurance to cover this Lease agreement. The Seller shall not be liable for any loss or damage to the buyer’s leased equipment
This Agreement shall be governed by and construed in accordance with the laws of the state of Texas, without regard to its conflict of laws principles.
This Agreement constitutes the entire agreement between the parties and supersedes all prior negotiations, representations, or agreements, whether written or oral. No modification or amendment of this Agreement shall be valid unless in writing and signed by both parties.
IN WITNESS WHEREOF, the parties hereto have executed this Lease Agreement as of the day and year first above written.
_______________________________________________________________________________
Seller Full Name ____________________________________________________________
Seller Signature________ ____________________________Date:___________________
Buyer Full Name:____________________________________________________________
Buyer Signature:______________________________________Date:__________________
_______________________________________________________________________________
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