This is a fairly common arrangement at Universities who are members of Division I of the NCAA. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
The Colorado Agreement to Loan Automobile to University Athletic Department for Promotional Purposes is a legal document that outlines the terms and conditions for loaning an automobile to a university athletic department for promotional activities. This agreement serves as a formal agreement between the owner of the automobile and the athletic department and ensures that both parties understand their rights and obligations. The primary purpose of loaning the automobile is to support the university's athletic department in its promotional efforts. The athletic department may use the automobile for various activities, such as transporting athletes or coaches, attending promotional events, participating in parades, or showcasing the vehicle at university functions. The Colorado Agreement to Loan Automobile to University Athletic Department for Promotional Purposes typically includes the following key elements: 1. Identification of Parties: This section outlines the names and contact information of the automobile owner (lender) and the university athletic department (borrower). It also includes their legal representatives, if applicable. 2. Vehicle Description: This section provides detailed information about the automobile being loaned, such as its make, model, year, Vehicle Identification Number (VIN), license plate number, and any additional features or accessories included. 3. Loan Duration: The agreement specifies the start and end dates of the loan period. This may be a specific timeframe or for the duration of a specific event or promotional campaign. It also clarifies if any extensions or early termination options are available. 4. Usage Restrictions: This section outlines how the automobile may be used by the athletic department. It may include limitations on mileage, geographic boundaries, specific events where the automobile can be showcased, and any prohibited activities, such as racing or off-road use. 5. Maintenance and Insurance: The agreement may outline the responsibilities of each party regarding the automobile's maintenance, repairs, and insurance coverage. It may also require the borrower to provide proof of insurance before taking possession of the vehicle. 6. Indemnification: This section clarifies that the borrower assumes all liability for any damages or losses occurring during the loan period and will indemnify the owner against any claims, lawsuits, or expenses arising from the use of the vehicle. 7. Termination and Return: The agreement specifies the conditions under which either party may terminate the loan agreement before the agreed duration. It also outlines the process and condition in which the automobile should be returned at the end of the loan period, including any cleaning or repair obligations. It is important to note that while the above elements are generally included in a Colorado Agreement to Loan Automobile to University Athletic Department for Promotional Purposes, the content and specific details of the agreement may vary depending on the preferences of the involved parties and the particular circumstances of the loan. In general, different types or variations of this agreement may exist based on factors such as the duration of the loan, the value and specifications of the automobile being loaned, or additional terms and conditions negotiated between the parties. However, these variations are not typically differentiated by specific names or categorizations.
