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AGENCY EQUIPMENT LOAN AGREEMENT
_________________________________ (“AGENCY”) and Idaho State University (“ISU”) enter this Equipment
Loan Agreement, pursuant to the following terms and conditions:
1. Agency agrees to provide the following equipment to ISU from ______________ through ____________:
Description
Model Number
Serial Number
ISU Tag #
Unit Value
2. Agency agrees to loan the above-listed equipment to the ________________________________ of ISU for
the purpose of _________________________________________________. This Agreement does not
constitute an agreement to transfer, purchase or take ownership by ISU. ISU, as an entity of the State of
Idaho, must adhere to State of Idaho Inventory, Surplus and Donation policies and statutes.
3. Agency will deliver the above listed equipment to _____________________________________________
and install the equipment. If instructions on proper use and maintenance are required, Agency agrees to
provide that instruction at time of installation at no cost to ISU.
4. Agency agrees to pay all charges for delivery of the equipment to ISU and agrees to pay all charges for the
return of the equipment to the Agency.
5. Agency agrees to pay for any cost or expenses associated with the normal maintenance and repair of the
equipment necessary to keep the equipment in good operating condition. ISU agrees that it will not permit
the equipment to be serviced by any non-Agency personnel without first obtaining the written authorization
of Agency to do so.
6. Agency warrants and represents that the equipment being provided to ISU pursuant to this Agreement
conforms to all manufacturer’s specifications and are fit for ISU’s intended uses. Agency further warrants
and represents that it has paid all necessary royalties and license fees for patents, copyrights, trademarks,
service marks, invention rights that may be associated with the equipment being provided. Agency agrees
to defend against and indemnify ISU for any claims of infringement of a third party’s proprietary rights to
or interests in the equipment.
7. To the extent permitted by law, Agency agrees to indemnify and defend ISU for any injuries, damages,
penalties, claims or losses, including legal expenses incurred by Idaho State University resulting from the
ownership, transportation, installation, maintenance, condition, normal operation, intended use, return or
disposition of the equipment.
8. Ownership and title of all equipment subject to this Agreement will remain solely with the Agency.
Accordingly, Agency is responsible for payment of all taxes and insurance premiums associated with
ownership of the equipment.
9. ISU agrees not to remove any plaques or labels affixed to the equipment.
10. ISU agrees to affix an ISU Asset tag to the equipment for tracking and insurance purposes while the
equipment is in ISU’s possession.
11. ISU agrees that the equipment will not be sold, loaned, transferred, used as collateral or used in any way
that jeopardizes the Agency’s ownership interest in the equipment.
12. In connection with ISU’s evaluation of the above-listed equipment, it may receive proprietary information
of Agency. ISU agrees to hold such proprietary information in confidence and not to disclose such
information to others, unless required by law or court order.
