#4100 @001 Please state the name of the owner of the property(lender): @002 Please state the name of the borrower of the property: @410 Please describe the property lent: @411 Please state length of loan: @412 Please state purpose of borrowing: #4101/#4102/ The property will be insured: By the owner By the borrower By neither, or contract does not state #if#4102 @419/@419 State required limits of insurance: $ 500,000 KEY IN VALUE #endif #4103 Do you desire to have an indemnity clause? #4104 #end control section #4100 /* Para. 4100: Bailment, general form */ BAILMENT AGREEMENT @001, referred to herein as "OWNER" and @002, referred to as "BORROWER," agree: @001 is the owner of the following personal property: @410 OWNER herewith bails to BORROWER the personal property described above, for a period of @411, for the purpose of @412. BORROWER agrees to return the same to OWNER in good condition, ordinary wear and excepted. THIS IS A BAILMENT WITHOUT PAYMENT FROM BORROWER TO OWNER FOR THE LENDING. 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 is not a "merchant" as the same is defined in the Uniform Commercial Code. #4101 /* Para. 4101: BAILMENT: Owner insures*/ 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. #4102 /* Para. 4102: INSURANCE BY BORROWER*/ The BORROWER shall at all times maintain insurance coverage for all insurable perils on the personal property bailed herein in a minimum amount of @419, and OWNER shall be named as a loss payee and co-insured thereon. OWNER may obtain such coverage for BORROWER, and at BORROWER's expense, if the same is not obtained and proof thereof given to OWNER. #4103 /* Para. 4103: Indemnity */ 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. #4104 /* Para. 4104: Conclusion- bailment */ 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 @001's election to do so. Dated: ________________________________ _______________________________________________ @001 ______________________________________________ @002