Private Property For Sale Onrus In Tarrant

• Category: Leases - Contracts
• State: Multi-State
• County: Tarrant
• Control #: US-00123
• Format: Word; Rich Text

Description

The document is a Contract for the Lease of Personal Property which outlines the agreement between a lessor and a lessee for the lease of specific personal property. It establishes the mutual obligations of both parties including lease terms, repair responsibilities, and the relationship dynamics. Notably, the lease term ties to an asset purchase agreement, thus emphasizing the interdependence of these separate agreements. Repairs are primarily the responsibility of the lessee, who must bear the costs if the lessor performs them due to the lessee's inaction. The document prohibits assignment or subleasing of the leased property without written consent from the lessor. Indemnity clauses protect the lessor from liabilities arising from the lessee's usage of the property. There are clear stipulations regarding attorney fees in case of a breach, ensuring both parties understand the costs associated with legal action. This document serves as a pivotal resource for attorneys, partners, and legal assistants involved in property leasing, providing a clear structure for rights and duties while also protecting the interests of both parties.