An equipment lease agreement is a legal contract where the owner allows another party (lessee) to use equipment in exchange for payment. The downloadable form is designed to institute a concrete arrangement, establishing the terms and conditions to be followed for the duration of the contract.Download a free equipment rental agreement template, and view sample lease and leasetoown agreements for construction equipment. This Equipment Rental Agreement ("Agreement") is effective as of the date of last signature ("Effective. Download an equipment lease agreement template to create a contract between an equipment owner and a party looking to rent the equipment. You can use this document to outline the terms and conditions of an equipment rental. Download Pennsylvania Equipment Lease template, modify and send for signing using BoloForms Signature.