HomeMy WebLinkAbout2595(,. R: 52 F~E>• 531
60~'K
ST. i l!CtE C~t!NTY. ~ 1 ,~.
INSPECTION: Lessee shall whenever requested, advise Lessor of the exact location of the equipment and shall give
Lessor immediate notice ot~any attachment or other judicial process affecting the equipment, and indemnify and save
Lessor harmless from any loss or damage caused thereby. lessor moy, for the purpose of inspection, at all reasonable
times enter upon ony job, building or place where the equipment is located; and may remove the equipment forth-
with, without notice to Lessee, if the equipment is, in the opinion of Lessor, being used beyond its capacity or in ony
manner improperly tared for or abused.
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 net waive or diminish Lessor's right thereafter to demand strict compliance therewith or
with any other provision. ~Naiver of any default shall not waive any other default. Lessor's rights hereunder are cumu-
lative and not alternative.
NO WARRANTY: Lessor, not being the manufacturer of the equipment nor manufacturer's agent, makes no warranty
against patent or latent defects in material, work-manship or capacity of the equipment, nor warranty that the equip-
ment will satisfy the requirements of any law, rule, specification or contract which provides for specific machinery or
operator, or special methods; all liabilities arising therefrom are assumed by Lessee at its sale risk and expense. No
oral agreement, guaranty, promise, condition, representation or warranty shall be binding; all prior conversations,
agreements or representations related l~erPto and/or to said equipment are integrated herein. No modification hereof
shall be binding unless in writing signed by Lessor.
POSSESSION: Lessor covenants to and with Lessee that Lessor is the lawful owner of said equipment free from all
encumbrances and that, conditioned upon Lessee's performing the conditions hereof, Lessee shall peaceably and
quietly hold, possess and use the equipment during said term without let or hinderance.
DEFAULT: In the event of Lessee's default hereunder or becoming insolvent or if Lessee ceases doing business as a
going concern, or if a petition is filed by or against Lessee under the Bankruptcy Act or any amendment thereto (in-
cluding o'petition for reorganization ar an extension), or if Lessee attempts to remove or sell or transfer or encum-
ber or sublet or part with possession of said equipment, or if Lessor deems itselt insecure, Lessor and/or its agents
moy without notice or liability or legal process enter into 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 equiprent, discon-
necting and separating ail thereof from any other property and using all force necessary or permitted by applicable
law so to do; Lessee hereby expressly waives all further rights to possession of the equipment and all 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 and/or for possession of the equipment, Lessee shall pay a reasonable sum
(15 ~fo of the amount sued for if permitted by law) as attorney's fees, to be not less than $50.
ASSIGNMENTS: Neither this lease nor Lessee's rights hereunder shall be assignable except with Lessor's written con-
sent; the conditions hereof shall bind any permitted successors and assigns of Lessee. If Lessor assigns the rents re-
served herein or all or any of Lessor's othler rights hereunder, assiynee'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 raymen± as
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 or remove any insignia or lettering on the equipment and shall conspicuously
iden±ify each item of the leased equipment by suitable lettering thereon to indicate Lessor's ownership. All transporta-
tion charges shall be brJrne by Lessee. Ail notices relating hereto shall be mailed registered to Lessor or Lessee at its
respective address above shown or at any later address last known to the sender. In case of any default by Lessee
hereunder all sums due and to become due hereunder shall, at the option of Lessor or any assignee of Lessor, be-
come payable forthwith. Lessee waives all 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,
and the rent shall not abate by reason of termination of Lessee's right of possession and%or the taking of possession
by Lesser or for any other reason, and delinquent instalment of rental shall bear interest at the highest lawful rate.
In case of any default by Lessee hereunder, Lessor may sell the equipment or may re-!ease the equipment for a term
and a rental which may be equal to, greater than, or less than the rental and term herein provided. Any proceeds of
sale, received within 60 days after repossession, or ony rental payments received under a new lease made within such
60 days for the period prior to the exp+ration of this lease, less Lessor's expenses of taking possession, storage, recondi-
tioning and sale or re-leasing, shall be applied on the Lessee's obligations hereunder, and Lessee shall remain lieble for
the balance of the unpaid aggregate rental set forth above. Lessee's liability shall not be reduced •by reason of any
failure of LPSSOr to sell or re-lei within such 60 days.
If Lessee is a corporation, this lease is executed by authority of its Board of Directors.
Signed, sealed and delivered in the presence of:
(witnesses cs to si nature of Lessee)
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(If a corporot~cn, show }Jle o~lfice~ signinpj.,, .
ACCEPTED:-__._.__ ~..~y•r-- .; -~X~T-~--Ca~'P7lNY
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FORM M1.39
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