CBA Ministry Trailer Loan Agreement (Exhibit A)
For and in consideration of the mutual promises and agreements recited herein, Collin Baptist Association, Inc. (hereinafter referred to as "CBA"), hereby loans to ___________________________________, (hereinafter "church"), the following property under and subject to the following terms and conditions:
Property Loaned. CBA hereby loans to the church the following property (the "Property") attached hereto and incorporated herein as Exhibit "A".
Terms and Conditions. CBA and Church hereby agree to the following terms and conditions:
1. Church shall pay to CBA upon execution of this Loan Agreement the Yearly Insurance fee, pursuant to the schedule set forth on Exhibit "B" which is attached hereto and incorporated herein, to use the Property.
2. Church shall return the Property to CBA or assigned church at or before
_____________ o'clock _____.m. on _____________________ (the "Return Deadline").
3. Church shall return the Property to CBA in the same condition as the Property was in at the time church took possession of the Property pursuant to this Loan Agreement.
4. Church shall be solely responsible for the use, maintenance, upkeep and condition of the Property from and after the time the church takes possession of the Property until such time as the church returns the Property to CBA and CBA acknowledges its receipt. To the extent not covered by CBA property insurance coverage, any damage to the Property which occurs while the Property is in the church's possession or as a result of the church's use of the Property regardless of when occurring, shall be the church's sole responsibility, and the church shall pay directly, or reimburse CBA for, any and all such damages, expenses and costs related to the repair or reduction in value of the Property or any portion thereof. All warranties, expressed or implied, concerning the Property are hereby disclaimed and waived.
5. The church hereby indemnifies and holds harmless CBA and CBA's agents, employees, representatives and assigns from any and all liability, claims, causes of action, losses, damages, injuries and expenses incurred by any person, organization or entity including, but not limited to, personal injury or death or loss or damage to any property (hereinafter "Losses"), as a result of or during the church's use of the Property, from the time the church takes possession of the Property from CBA until such time as the church returns the Property to CBA and CBA acknowledges its receipt, whether or not the Losses were caused in whole or in part by the negligence of CBA.
6. The church hereby represents and warrants to CBA that the church has the experience and adequate knowledge to properly use and operate the Property and the church understands and acknowledges that CBA is not responsible for instructing, directing or supervising the church in the use or operation of the Property.
7. The undersigned represents and warranties they are authorized to execute this agreement on behalf of the party they represent. This agreement represents the final agreement between the parties and may not be contradicted by evidence of prior, contemporaneous, or subsequent oral ag