Download a free equipment rental agreement template, and view sample lease and leasetoown agreements for construction equipment. An equipment lease agreement is a legal contract where the owner allows another party (lessee) to use equipment in exchange for payment.You can use this document to outline the terms and conditions of an equipment rental. This guide is intended to provide basic information on how sales and use tax laws apply to leases of items (tangible personal property) Download your Equipment Lease Agreement With Option to Purchase Template in Word Doc format. LEASE-PURCHASE OPTION EQUIPMENT. Report here all equipment acquired on lease-purchase option on which the final payment remains to be made. CVSan contracts municipal solid waste collection and processing services to ACI. CVSan does not drive the collection trucks. Use the return envelopes found in the contract packets.