A hire purchase agreement is a type of credit agreement between a buyer and seller. People typically enter into these contracts to buy products.1. The owner will let and the hirer will take on hire the vehicle more particularly described in the Schedule hereto. 2. This Purchase and Sale Agreement is made and entered into this 18 day of August, 2011, between 12061 BLUEMONT OWNER, LLC, a Delaware limited liability company. Entering into a hire purchase agreement can be of great benefit in today's world. Our free templates and this guide can help you get started. "Proprietary lease" means an agreement with the association pursuant to which a proprietary lessee has a possessory interest in a unit.