During the term of the Agreement and until the return of the Food Truck, it is the responsibility of the Lessee to maintain insurance as acceptable to the Lessor. Lessee shall adhere to the minimum coverages as applicable.
A. Theft, fire, and collision coverage each for the implied cash value of the vehicle with a maximum deductible of $(amount);
B. Liability insurance for $(amount) per person, $(amount) in case of bodily injury or death, and $(amount) in case of property damage.
Lessee shall have the right to terminate this Agreement at any point in time by informing the Lessor with written notice at least (days) before. Additionally, the Lessee will be liable to pay an early termination fee of $(amount).
During the notice period, the responsibility to pay the rent will be on the Lessee.
In the case, the Lessee is unable to comply with the terms and conditions of the agreement, misrepresents any fact on the rental application, or the rental payment has been delayed beyond the (number) business day of the calendar month, then this Agreement shall be terminated by the Lessor.
However, the Lessor shall have to provide the Lessee with appropriate notice and adhere to the procedures required as per the law of the (state).
Lessee shall not have the right to terminate the Agreement early.