ART - Analysis - Lease vs. Purchase 2003

The document is a lease agreement between the City of Miami Beach (referred to as Lessee) and Fort Lauderdale Harley Davidson (referred to as Lessor) for the lease of two 2003 FLHPI motorcycles. The agreement states that the motorcycles will only be operated by authorized licensed drivers employed by the Lessee as law enforcement officers. The Lessee is responsible for self-insuring the motorcycles for casualty, public liability, and property damage. The Lessee agrees to cooperate with the Lessor and any insurance company in the investigation and defense of any claims arising from the use of the motorcycles. Both parties agree to indemnify and hold each other harmless from any losses, liability, damages, injuries, claims, demands, and expenses related to the use of the motorcycles. The Lessor disclaims any express warranties of motorcycle condition, merchantability, durability, or fitness for a particular purpose, except as provided in the lease agreement. The City desires to limit its liability for any breach of the agreement, and the Lessor agrees that the City's liability for damages will not exceed the total rental amount to be paid throughout the term of the agreement. The City must return the motorcycles to the Lessor in good condition at the end of the lease term. The lease agreement cannot be assigned or subleased by either party. Any legal action regarding the enforcement of the agreement will be conducted in Miami-Dade County, Florida. The document also includes details about the model and equipment of the motorcycles.