WAIVER, INDEMNITY, and LEASE AGREEMENT
I. INTRODUCTION:
Come now the parties hereto as follows, having the following designations for purposes of this document:
1. Lessor – 68 Rental, LLC, d/b/a 68 Rental Co., LLC, having an address of 1867 U.S. Highway 68, Benton, KY 42025; and,
2. Lessee – , individually.
(Other parties to Lease, if any, are: not applicable)
Same, having been sworn and placed under oath, hereby states, swears, affirms and agrees as follows, to wit:
II. GENERAL PROVISIONS AND SPECIFIC AGEEMENT(S):
WHEREAS, the Lessor leases this date certain personal property (the item) to Lessee as follows:
; and,
WHEREAS, the Lessor requires, as a condition to such lease of personal property, certain assurances from Lessee which shall form a part of the parties’ contractual obligation(s) owed to each other.
NOW, THEREFORE, the parties agree as follows:
- Deposit: Lessee shall pay to Lessor the sum of $500.00 as a deposit for initiating the lease of the item. Said deposit shall act to ensure that the item is returned to the Lessor at the conclusion of the term of the lease in substantially the same condition as when delivered to Lessee as defined hereinafter. Should there be any damage to the item, or should the Lessee take any action or inaction during the term of the lease that causes damage to the Lessor or to the item, Lessor shall retain the deposit in addition to all other legal rights stemming from the lease. Assuming no issues, the deposit will be returned to Lessee (subject to banking standards and requirements) at the conclusion of the term.
- Term and Rental Fee: The term of the lease shall be for - . Lessee shall pay to Lessor as rent for the item.
- i. LESSOR reserves the right to cancel this rental agreement due to inclement or impending bad weather within 24 hours of reservation date for a full refund. Failure to do so will require reservations to be moved to another day and no refund given.
- Delivery of Item: Lessor shall deliver the item from Lessor’s place of business to Moors Resort and Marina in Marshall County, Kentucky, and Lessor shall pick
the item up at the same location at the conclusion of the term. Should Lessee fail to return the item to Moors Resort and Marina by the designated return time, a fee of $100 will be subtracted from the deposit, with an additional fee of $100/hour for every hour after the first hour that the rental is late.
- i. Attached to this document is a checklist that must be completed prior to Lessee taking possession of the item, and then affirmed when Lessor picks the item back up at the conclusion of the term.
- Use of Item: Lessee shall only use the item for its intended use. Lessee shall in no way “hook” or “attach” anything of any type to the item, and shall not augment the item in any fashion whatsoever, without written agreement of the Lessor. Lessee shall not remove the item from Kentucky Lake in any fashion. Only Lessor shall have authority to remove the item from Kentucky Lake. Specifically, Lessee shall only be permitted to operate and use the item on Kentucky Lake between Kentucky Dam and Kenlake Marina.
- Legal Use: Lessee confirms that same is of legal age to use the item, and that Lessee has been trained to the extent required by law for use of the item. Lessee waives any and all obligation on the part of Lessor to provide such training for the use of the item. Furthermore, Lessor does not hold itself out as an expert in any fashion as regards use of the item, and same acts only as a Lessor for physical possession of the item to Lessee and nothing further.
- Liability: Lessor shall incur no liability of any type for the Lessee’s use of the item during the term of the lease or otherwise. Lessor shall have no direct control over (or use of) the item during the term with Lessee having the sole control and use of same. Lessee shall not permit any other person to use the item in any fashion unless such person is listed on this document as a Lessee.
- Sublease: Lessee shall not sublease the item in any fashion for use by any other person or entity.
- Injury/Damages: Should Lessee become injured in any fashion through use of the item during the term or otherwise, Lessee shall have no claim for damages against Lessor and expressly waives any and all such rights. Likewise, should a third party become injured by Lessee during the term of lease of the item, Lessee shall indemnify and hold harmless Lessor for all such damages occasioned thereby. It is fully understood, therefore, upon Lessee taking possession of the item from Lessor that Lessee takes over all incidents of ownership of the item as regards liability in any fashion, and as owed to any person or entity whatsoever.
- Warranty: Lessor issues no warranty as regards the item other than it being fit for its intended and legal use. Lessee acknowledges having personally examined the item as regards same and its current condition and, therefore, has been advised that Lessor extends no warranty of any type, and makes no assertions of any type other than as expressly noted herein. Lessor owes Lessee no other duty or obligation of any type whatsoever;
- Law/Regulations: Lessee shall comply with any and all rules, regulations, instructions, law, and the like, as promulgated and/or delivered by the Lessor for use of the item during the term of the lease. Specifically the Lessee shall follow all marine requirements and aquatic laws, and shall comply will all “no wake zone” postings.
- Modification of Item: Lessor has made no special modifications to the item in preparation for the lease of same to Lessee and, therefore, issues no warranty of any type on anything pertaining to a “special use” of the item.
- Personal Liability and Party to Transaction: It is specifically understood that Adam Liley and his wife, Nicole Marie Liley, shall not be subject to any liability whatsoever in this matter as Lessor is 68 Rental, LLC, d/b/a 68 Rental Co., LLC, and not them individually. No liability of any type shall attach to Adam Liley or Nicole Marie Liley by virtue of any item related to this document or transaction. It is, therefore, agreed that they are not personally a party to this transaction.
III. COMPLETE DOCUMENT:
All parties hereto agree that this document shall act to completely nullify any and
all agreements, oral or otherwise, which pre-date the execution of this document. The
only exception to this shall be if an addendum (checklist) is attached to this document
signed by Lessor and Lessee and dated of even date herewith.
IV. INFORMED CONSENT, VOLUNTARY NATURE OF EXECUTION OF CONTRACT, AND CHOICE OF LAW FORUM:
The parties hereto state, swear and affirm that they have entered this agreement
having full knowledge of its terms and conditions, and have had the opportunity, if
desired, to obtain independent counsel to review the terms hereof. All parties further
state they have signed this agreement voluntarily and of their own free will.
The parties finally agree that if any term of this document is found to be null and void that the remaining parts of same shall not be affected thereby. Furthermore, in the event of a dispute, this document shall be interpreted under the laws of the Commonwealth of Kentucky.
IV. INDEMNITY:
Lessee, as hereinabove noted, agrees to indemnify and hold harmless Lessor as against any and all loss, damages, and costs of any type suffered by same as a consequence of the Lessor’s lease of the item herein defined to the Lessee.
EXECUTED: 12/09/2023
LESSOR:
68 Rental, LLC, d/b/a
68 Rental Co., LLC
BY: Adam Liley, Managing Member
LESSEE(s):
