HomeMy WebLinkAbout1402AO~K ~1s i'P.L`_ vv
TITLE: All said equipment shall remain personal property, end title thereto shell remain in lessor exclusively. Lessee shell keep ine
equipment free from any and all lien end claims, and shall do or' pormit no act or thing whereby Lessor's title or rights may bs en-
.:umbered or impaired. Upon expiration or termination hereof, t%r~ equipment shall 5e ret~~rned unen~umbesed to Lessor by lessee
at -.e;sae's sole expense end in the some condition as when rscrived by Lessee, roesonehlc wee- and gear resulting from, proper use
thereof alone excepted. Lessee shall pay rent et the said rat• until all said equipment arrives at Lessor's premises.
INSPECTION: Lessee shall, whenever requested, advise Lessor of the exact location and condition of the equipment end shell give
Lessor immediate notice of any attachment or other judicial Frocess affecting the equipment, and indemnify end save Lessor harm-
less from any loss or damage eeused thereby. Lessor may, for the purpose of inspection, at all reasonable times enter upon any job,
building or place where the equipment is located; and may rsmov a the equipment forthwith, without notice to Lessee, if the equip-
ment is, in the opinion of Lessor, being used beyond its capacity or in any manner improper-•, cared for or abuserl.
NON-WAIVER: Time is of the essence. Lessor's failure at any time to require strict performance by lessee of any of the provisions
hereof shall not waive or diminish Lessor's right thereafter to ciamand strict compliance therewith or with any other provision.
Waiver of an, default shall not waive any o+her default. Lessor's rights hereunder are cumulative and not alternative.
NO WARRANTY: Lessor, not being the manufacturer of the equipment nor manuiecturer's agent, makes no warranty against patent
or latent defects in material, workmanship or capacity of the equipment, nor warranty that the equipment will satisfy the require-
ments of any law, rule, specification or contract which provides for specific machinery or operators, or specff methods; all liabilities
arising therefrom are assumed by Lessee at its sole risk and expense. No oral agreement, guaranty, promise, condition, representa-
tion or warranty shell be binding; all prior conversations, agreements or representations related hereto and/or to said equipment are
integrated herein. No modification hereof shall be binding unless in writing signed by lessor.
POSSESSION: Lessor covenants to rnd with Lessee that Lessor is the lawful owner of said equipment free from all encumbrances
and that, conditioned upon LFSsee's performing the conditions hereof, Lessee shall peaceably and quietly hold, possess and use the
equipment during said term without let or hindrance.
DEFAULT: In the event of Lessee's default hereunder or becoming insolvent or if Lessee ceases doing business es a going concern, or
if a petition is Fled by or against Lessee under the Bankruptcy Act or any amendment thereto (including a petition for reorganization
or an extension), or if Lessee, without Lessor's prior consent, attempts to remove or sell or transfer or Encumber or sublet
or part with the possession of said equipment, or if Lessor deems itself insecure, Lessor and/or its agents may without notice
or liability or legal process enter info any premises of or under control or jurisdiction of Lessee or any agent of Lessee
where said equipment may be or by Lessor is believed to be, and repossess the equipment, disconnecting and separating all thereof
from any other property and using alt force necessary or permitted by applicable law so to do; Lessee hereby expressly waives all
further rights to possession of the equipment and ell claims for injury suffered through or loss caused by such repossession. Should
any legal proceeding be instituted by Lessor to recover any moneys due and to become due hereunder end/or for possession of
the equipment, Lessee shall pay a reasonable sum (15% of the amount sued for if not prohibited by low) as attornoy's fees, to be
not less than ;50. •
ASSIGNMENTS: Neither this lease nor Lessee's rights hereunder shall be assignab!a except with Lessor's written consent; the con-
ditions hereof shall bind any permitted successors and assigns of Lessee. If Lessor assigns the rents reserve. herein or all or any of
Lessor's other rights hereunder, assignee's rights shall be independent of any claim of Lessee against Lessor; Lessee on receiving
notice of any such assignment shall abide thereby and make payment es may therein be directed. Following such assignment the
term "Lessor" shall be deemed to include or refer to Lessor's assignee.
MISCELLANEOUS: Lessee will not change cr remove any insignia or lettering on the equipment and shall conspicuously identify each
item of the leased equipment by suitable lettering thereon to indicate Lessor's ownership. All transportation charges shall be bornR
by Lessee. All notices relating hereto shall be mailed to Lessor or Lessee at its respective address above shown or at any
later address last known to the sender. In case of any defeu{t by Lessee hereunder all sums due end to become due hereunder shall, at
the option of Lessor or ary assignee of Lessor, become payable forthwith. Lessee waives ell rights under all exemption laws. Lessee
admits the recEipt of a true copy of this equipment lease. This lease is irrevocable for the full term hereof and for the aggregate
rental herein reserved, end the rent shall not abate by reason of termination of Lessee's right of possession and/or the taking of
possession by Lessor or for any other reason, an•.f delinquent instalments of rental shill bear interest at the highest lawful rate. In
case of any default by Lessee hereunder, Lessor may sell the equipment c- may re-lease the equipment for a term and a rental which
may be equal to, greater than, or less than the renfel and term herein provided. ~:ny proceeds of sale, received within 60 days after
repossession, or any rental payments received under a new lease made within such 60 days for the period prior tc the expiration of
this Lease, less Lessor's expenses of faking possession, storage, reconditioning and sale or re-leasing, shall be applied on the Lessee's
obligations hereunder, and lessee shall remain liable for the balance of the unpaid agg~agete rental set forth above. Lessee's
liability shall not be reduced by reason of any failure of Lessor to sell or .e-let within such 60 days.
PURCHASE OPTION: At any time after... JiLj y . at2~ -- ~- ~ - l ~- . if Lessee has paid in fuA ail rentals owing hereunder
(MoMA, Day) y~ p~
Ana) F+e ,.^.ot t!:6 : iii uafaiiii hereunder, Lessee :hail have the option to purchase said a uiprtlfgt fJV giving written notice not less
than 30 day: prior to expiration of the original term hereof. Ths purchase price shal{ be: ~~ll a
If Lessee is a corporation, Phis Leese is executed by authority of its Board of Directors.
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.p'011Y SAY Ea4 CQdU'A1VY
- _ _ _ _ .. . _ . _ _ _ - (Lessee)
.._.
~~~~(fl~natrr• of j~ duel orb Zama of CwDoraTion or -arlnarrhlD)
Bye/)/)~`" Y, ~ f r~~ _.. U~./i'-~-~'_ (Seal)
(11 Cergoraho , leave Agqnod Ei hasld~~f, Vic~•~ratiid~nt or
ir.reaar~r a ylrtr officld tills. II Ovaar or -arinar,
daM rAkA.)
_ _ ..... (Lessor)
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