Rhode Island Reservation of A Call on, Or Preferential Right to Purchase Production by Lessor

State:
Multi-State
Control #:
US-OG-820
Format:
Word; 
Rich Text
Instant download

Description

This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the “standard” lease form.

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Drivers of motor vehicles in Rhode Island are permitted, but not required, to turn right at a red light after a full stop unless there is a ?no turn on red? sign posted. Drivers must first yield to all oncoming traffic and pedestrians before making their turn.

Laws § 34-25.2-1 et seq., The Rhode Island Home Loan Protection Act, which protects consumers from certain loan brokering and lending practices. One of these statutory protections, R.I. Gen. Laws § 34-25.2-6, imposes certain requirements and prohibited practices upon ?High-Cost Home Loans.?

A certificate of origin or original title assigned to the leasing company. A TR-5 form (VIN verification) from a local police department if the title is from another state. Certificates of origin do not require TR-5 forms.

Dealer. New or used vehicles, sales tax is 7% of the purchase price, minus trade-in and other allowances. This applies to passenger vehicles and motor homes only.

(1) The offer is fully responsive to the terms and conditions of the Request; (2) The price offer is determined to be within a competitive range (not to exceed 5% higher than the lowest responsive price offer) for the product or service; (3) The firm making the offer has been certified by the R.I.

Other charges, such as acquisition fees, origination fees, registration and title fees are also subject to tax under a lease. Motor vehicle excise taxes are considered gross receipts and are subject to sales and use tax under a lease.

For a leased vehicle, you will have to pay Massachusetts' 6.25% sales tax on the lease price, which would be applied to your monthly payment.

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Rhode Island Reservation of A Call on, Or Preferential Right to Purchase Production by Lessor