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Equipment lease agreements allow owners of personal property to temporarily lease it to others for a fee. These agreements can vary based on state regulations, but key considerations remain consistent regardless of location. They are particularly valuable for large projects requiring expensive equipment that may not be needed again, such as a steamroller. Renting makes more sense than purchasing in such cases. For lenders, an equipment lease agreement ensures the proper care and usage of their equipment during the rental period. This document outlines the terms and protects the interests of both parties involved in the transaction.