THIS FORKLIFT RENTAL AGREEMENT made in Charlottetown, Queens County, Province of Prince Edward Island. Between Lessor, AUSTIN MCQUAID RENTAL & LEASING INC., and the Lessee.
WITNESSES that in consideration of the rents reserved and the covenants and agreements herein contained to be paid, observed and performed by the Lessee, the Lessor hereby leases to the Lessee the forklift, attachments and parts and other equipment, herein called the "Forklift", located at Charlottetown, Queens County, Prince Edward Island.
RENT - The Lessee shall pay rent to the Lessor, in advance, at the rate of:
- 5000LB and under: $150/day, $550/week, $1200/month
- 6000Lb-9000LB: $200/day, $700/week, $1500/month
- 9000Lb+ or AWD: $250/day, $1000/week, $2200/month
Plus applicable taxes per month. The payment of rent is due on the 1st day of each month.
MILEAGE CHARGE – The Lessee shall pay the Lessor a mileage fee associated with transporting the Forklift or other equipment, each time that the Forklift or other equipment is moved. The mileage fee will be calculated per kilometer at a rate to be determined at the time the Forklift or other equipment is being transported. The Lessee will be advised of the applicable mileage fee associated with transporting the Forklift or other equipment prior to the charge being incurred by the Lessee. The Lessee acknowledges that the mileage fee may be different for each time that the Forklift other equipment is transported.
EQUIPMENT- The Lessee has examined the Forklift or the other equipment and finds it to be in good condition.
FORKLIFT, ATTACHMENTS, PARTS AND OTHER EQUIPMENT USAGE LIABILITY—The Lessee shall assume all risks associated with the operation and use of the Forklift or other equipment of the Lessor, attachments and parts belonging thereto, including the placement of said forklift or other equipment. The Lessee shall be responsible and liable for any and all damage including, without limiting the generality of the foregoing, all bodily injury or property damage, arising from the use or operation of the forklift or other equipment, including any act or omission of the Lessor, it’s employees, assignees or agents, other than any damage caused by or resulting from equipment failure. The Lessor, it’s employees, assignees or agents, when delivering or operating the forklift or other equipment to the Lessee, and on behalf of the Lessee, shall not be responsible or liable for any damage arising from their use or operation of the forklift or other equipment owned by the Lessor, the attachments or parts belonging thereto. The Lessee agrees and acknowledges that they are responsible for providing proper training to themselves and its employees, assignees or agents with respect to the proper use and operation of the forklift or other equipment and to conduct daily inspections in accordance with the McQuaid Property Management guidelines, which is to include, but is not limited to, conducting daily inspections for defects and mechanical issues.
The Lessee covenants with the Lessor as follows:
1. PAY RENT - To pay rent in accordance with the provisions of this agreement. Specifically, the Lessee agrees that the rent shall be paid via credit card each month, which credit card number shall be kept on file at the offices of the Lessor and will be automatically
charged on the first day of each month for payment of rent. The Lessee’s credit card will not be charged rent if the Lessee ceases to rent a Forklift or other equipment from the Lessor.
2. INSPECTION OF EQUIPMENT - To conduct daily inspections, in accordance with McQuaid Property Management guidelines, including, but not limited to inspecting for defects and mechanical issues, of the Forklift, all attachments, parts belonging thereto or other equipment of the Lessor.
3. RETURN OF EQUIPMENT - To return the Forklift or other equipment of the Lessor and all attachments and parts belonging thereto in the same condition as received, ordinary wear excepted.
4. COMPENSATION FOR DAMAGE - To make good or compensate the Lessor, for the full replacement value, for any damage to the Forklift other equipment of the Lessor and all attachments and parts belonging thereto caused by the negligent, reckless or willful conduct of the Lessee, the Lessee’s servants, agents, employees, licensees or invitees, or if it is lost or destroyed while in the Lessee’s control. Furthermore, the Lessee agrees to report any damage to the Forklift or other equipment owned by the Lessor and all attachments and parts belonging thereto to the Lessor within twenty-four (24) hours of the damage occurring.
5. ENTRY BY LESSOR - To permit the Lessor on twenty-four (24) hours’ notice to inspect the Forklift or other equipment at any reasonable time for the purpose of inspecting the Forklift of other equipment. The Lessee shall waive the twenty-four (24) hour notice in the case of an emergency.
6. ASSIGN OR SUBLET - Not to assign this agreement or sublet the Forklift, attachment, parts or other equipment without the prior written consent of the Lessor.
7. USE OF EQUIPMENT - To use the Forklift and equipment solely for the purposes agreed upon, with care and according to instructions.
8. NOT TO AFFECT INSURANCE - Not to do or omit or permit to be done or omitted on or in the use of the Forklift and equipment anything which shall cause the rate of insurance upon the Forklift or equipment to be increased and if the rate of insurance upon the Forklift or equipment shall be increased by reason of anything done or omitted or permitted to be done or omitted by the Lessee or anyone permitted by the Lessee to use or operate the Forklift or equipment, the Lessee shall on demand pay to the Lessor the amount of such increase.
9. LESSEE’S INDEMNITY - To indemnify and save harmless the Lessor, it’s employees, assignees, directors or agents, including any said individuals who may assist with the Forklift or other equipment on behalf of the Lessor, against and from any and all claims, demands, losses, damages, actions, suites or proceedings of every nature and kind
whatsoever by any person, firm, or corporation, including, without limiting the generality of the foregoing, all claims for bodily injury or property damage, arising from the conduct or any work or by or through any act or omission of the Lessee or any assignee, agent, contractor, servant, employee, invitee, or licensee of the Lessee, including the use of any of the Lessor’s Forklift or equipment, and against and from all costs, counsel fees, expenses and liabilities incurred in or about any such claim.
10. INSURANCE - To maintain proper and adequate insurance on all property owned by the Lessee and to add McQuaid Property Management Inc. as an additional insured to the Lessee’s Commercial General Liability insurance, if applicable, and to provide a certificate of insurance to confirm same.
The Lessor covenants with the Lessee as follows:
1. To permit the Lessee, its servants, agents, employees, licensees and invitees to have access to the Forklift, attachments, parts and equipment that is leased.
2. To provide the Lessee with at least thirty (30) days’ written notice of any increase in rent, which may not be applicable until the expiration of the Term.
1. If the Lessee, with the consent of the Lessor, remains in possession of the Forklift, attachments, parts or other equipment after the date fixed for the expiration of the term or any renewal thereof without any further written agreement, the Lessee shall be deemed to be occupying the Forklift, attachment, parts or other equipment on a month to month basis, and subject to Rent payable in advance on the first day of each month in the same monthly amount of Rent payable by the Lessee during the last month of the term of the Forklift Rental Agreement and the Lessee shall not be allowed to terminate this agreement until they have first given the Lessor twenty-four (24) hours written notice of their intention to do so; and otherwise, upon the same terms and conditions in this Forklift Rental Agreement.
OPTION FOR LEASE EXTENSION
2. Provided that if the Lessee has during the term hereof paid the rent hereby reserved including additional rent as herein provided, performed all and every of the covenants provisos and agreements herein contained on the part of the Lessee to be paid and performed, and the Forklift, attachment, parts or other equipment are available for rent, the Lessee shall have the right to renew this Lease upon the same terms and conditions, including this option to renew, subject to the following exception:
a) The rent upon renewal shall be as mutually agreed upon by the Lessor and Lessee, being the intention of the Parties hereto to reflect the then prevailing lease rates for comparable property, and failing agreement, then as established by arbitration as hereinafter provided. The right of renewal herein contained may be exercised providing the Lessee by notice in writing to the Lessor, which notice shall be served upon the Lessor at least thirty (30) days prior to the expiration of this Forklift Rental Agreement.
3. If the rent hereby reserved, or any part thereof, shall be in arrears or if the Lessee shall make default in the observance or performance of any of the Lessee’s covenants or agreements contained in this agreement and such arrears or default shall continue for a period of seven (7) days, then the Lessor may give the Lessee notice requiring the Lessee to pay the arrears or remedy the default within fourteen (14) days of receipt of notice. If the Lessee fails to pay the arrears or remedy the default within such period, the Lessor may take repossession of the Forklift, attachments, parts or other equipment and the term hereby granted shall thereupon be terminated.
4. Any notice or communication to be given by any party to the others hereunder, including for purposes of issues with Forklift, attachments, parts, other equipment or contracts, shall be deemed to be duly given when served upon such party or sent by registered mail to the Lessor at their place of business and to the Lessee at the address provided above.
COUNTERPARTS/ ELECTRONIC SIGNATURE
5. This Agreement may be executed and then delivered by facsimile or electronic transmission and that this Agreement may be signed in counterparts and such counterparts once executed and delivered shall be read together and be deemed to be a single agreement. This Agreement may be executed by facsimile, .pdf signature, or any other form of electronic signature by any party and such signature shall be binding for all purposes hereof without delivery of an original signature being thereafter required.
Execution of Forklift Rental Agreement and Waiver by Lessor:
I/We, have read the entire Forklift Rental Agreement
provided above and I/We confirm that I/We understand and agree to be bound by the terms
herein. Without limiting the generality of the Forklift Rental Agreement: I /We agree to hold harmless and indemnify the Lessor and/or any Lessor employees, assignees or agents, including those who may assist in the use or operation of the Forklifts, attachments, parts or other equipment of the Lessor, for all losses or damages arising from the conduct or any work or by or through any act or omission of the Lessor or any assignee, agent, contractor, servant, employee, invitee, or licensee of the Lessor, including but not limited to damage to any property or person resulting from the conduct or any work or by or through any act or omission use or operation or work associated with the Forklifts, attachments, parts or other equipment of the Lessor.