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Equipment lease agreements allow owners of personal property to permit temporary use by another party in exchange for a fee. These agreements can be structured in various ways and depend on state regulations. However, certain considerations are universally applicable regardless of the specific equipment or location. Equipment lease agreements are particularly beneficial for significant projects requiring expensive machinery, like a steamroller, especially when purchasing is impractical. For the lender, an equipment lease agreement ensures the proper care and utilization of the equipment being loaned.