Hire Purchase Agreement Vehicle

(11) The agreement shall specify whether the lessee commits an act of bankruptcy or enters into an agreement with its creditors or whether an application for a finding by the lessee is made to the court as insolvent or on behalf of a beneficiary of the lessee`s property, or if a creditor or other person applies to the lessee for seizure of the vehicle in question. While the owner is the owner of a motor vehicle described in particular in the list and the lessee approached the owner to rent the vehicle in question, which allowed the owner to accept and assure the lessee that he had this vehicle and that he would enjoy it at rest. 4. If the Tenant correctly complies with and fulfils all the conditions contained therein and must be complied with and performed in turn and pays the Landlord the amount referred to in clause 3 as well as all other sums he pays to the Landlord in accordance with the provisions of this Contract, the rent ends and the vehicle in question is transferred to the property of the Lessee and the Lessee. The owner will assign and assume all his rights and interests to the tenant, but the renter has the possibility to purchase the vehicle in question at any time during the rental period by paying, in a lump sum, the balance of all the rents mentioned above and other expenses incurred by the owner. Until all the aforementioned payments are made, the vehicle remains the property of the owner. And for what credit is granted if the car in question is purchased in accordance with the terms of this agreement and to the owner at his address for the moment and without request the sum of rs …… . .