BAILMENT AGREEMENT
OWNER NAME, referred to herein as "OWNER" and BORROWER NAME, referred to as "BORROWER," agree:
OWNER NAME is the owner of the following described motor vehicle:
Make of vehicle: MAKE OF VEHICLE
Model: MODEL OF VEHICLE
Body style: BODY STYLE OF VEHICLE
VIN: VEHICLE ID NUMBER (VIN)
OWNER herewith bails to BORROWER the motor vehicle described above, for a period of LENGTH OF BAILMENT, for the purpose of BORROWERS PURPOSE. BORROWER agrees to return the same to OWNER in good condition, ordinary wear and excepted.
BORROWER acknowledges an opportunity to review the personal property bailed, and ACCEPTS THE SAME "AS IS," "WITH ALL FAULTS" and WITHOUT WARRANTY. BORROWER HAS ASCERTAINED THAT THE BAILED PROPERTY IS FIT FOR THE PURPOSE THAT BORROWER DESIRES TO USE THE BAILED PROPERTY.
OWNER has procured insurance for physical damage upon the bailed items, and, accordingly informs BORROWER of the subrogation rights of the insuror of OWNER. THE INSURANCE OBTAINED MAY NOT COVER BORROWER FOR ANY PURPOSE.
The BORROWER agrees to indemnify and hold harmless OWNER from any and all liability which may accrue as a result of BORROWER'S use of the bailed property.
The OWNER may terminate this bailment prior to the expiration of the same which is specified herein for cause, including but not limited to:
a. the intentional misuse or neglect of the bailed property;
b. the use of the bailed property in contravention of any statute or administrative regulation;
c. other objectively reasonable cause.
Said termination shall be effective immediately upon OWNER NAME's election to do so.
Dated: ________________________________
_____________________________________________
OWNER NAME
_____________________________________________
BORROWER NAME