LEASE ASSUMPTIONS

Vehicle Lease Agreements may be assigned to and assumed by a third party, subject to the approval of Honda Financial Services (HFS). The following are standard to the program:

> Assumptions are NOT PERMITTED within the last six months of the Lease.

> It is the responsibility you the Customer to find a third party to assume their Lease contract.

> HFS reserves the right to decline any request for assumption without explanation or obligation. It is the responsibility of HFS to determine an assuming customer's credit worthiness.

> The original customer is responsible for all payments up until they receive written notification from HFS that the assumption has been completed.

> HFS will decline all assumption requests that are in past due status at time of application. The account must be up to date to be considered.

> If at anytime during the assumption process the account falls past due, the documents will not be processed until the account is up to date.

> If payment returns NSF from the previous account holder it is the responsibility of the new owner (assignee) to ensure the account is current.

> Once the assumption has been completed, the assignee accepts all terms and conditions outlined on the original lease agreement, which is legal and binding.

> More than one assumption may be completed on an account; however, the

An assumption fee is applicable each time an account is assumed. The fee is made payable to Classic Honda for the amount $799.00 + GST/PST

            Document Requirement

> Void Cheque

> Signed and dated Credit Application

> Assumption Fee

> Copy Driver's License (front & back)

> Articles of Incorporation (if applicable)

> Insurance Confirmation

NOTE: Lease Assumption approvals and documents are only valid for 30 days from the date of approval