HomeMy WebLinkAbout1759 I. ' IESi~R ~AiA~ ~
~ A. 1'o tWttiih tba [~uipment as described on the ~everse hereof, in the manner hereinafter spetified.
II. LESSEE A~REES
A. To lease the Equipment tor the term herein set fer?h at the rental herein provided and to pay same when due irrespective of any tlaims, demands, set~~ffs or attions,
suits, praeedinqs, that it may hare o; assert aqainst lessor.
B. from the lime the Equipment is delirered to the lessee untN it is returred tc lessar, Lessee shall use and preserve the Equipment in a tartfu! and proper martner and
shall be res~onsible far ~y loss o~ d~naqe tberelo from any cause whatsoever and lessee agrees that all equipment, attachmentt, actessories and repairs at any
time made to or placed upon the Equipment shall become the property of lessor. lessee, at own expense, will maintain fire ar~d extended coverage insucance on
the Equipment for its ful~ insurab~e ra(ue, with loss payable ta Lessee and lessor as their respec!ive interests may appear. If lessor so requires, lessee shall fur~
. ni~ polities or tertifisates of insurante eridencing such corerage. Each policy shall provide fo~ ten (101 dars written notice to Lessor of the cancellation or ma~eria!
modification thprcof.
C. To report artd pay to tfie appropriate tazing authority any and all tazes lincluding penalty and interest, if anr) assessed against 5aid equiprrent or fhe ownership,
rental ar use thereoi, and to reimburse lessor or its assigns upan receipt of wri!ten request for reimbursement, ior any taxes assessed against lessor or its assigns
br reason of the ownership, rental ar use of said equipment, or by reason of lessor's sale thereof to anr third part7, if wch sale eliminaJes the neceisity of paying
tax on ihe ownership, rental or use of said equipment.
D. If any rental is not paid within ten I101 days after due dafe, to par a late charge of tive cenls 1551 per dollar cn, and in addit~on to, the amount of such rentai
but not exteeding the lawful mazimum, if any. '
E. To keep the Equipment at the address specified on the reverse hereof and not to remove all or any part of the Equipment therefrom witFout the lessor's prier wrifiten
tonsent.
111. TNE PAAiIES MUTUAIIr A6REE
A. Thaf the Equipmen~ sisa!I at ail times remain personal prope~tp of lessor regardless of the degree of its annexation to the rea! property and that the Equipment shall
noi br reason of any annexaticn to personal properiy become a part thereof.
B. That Equipment shall be shipped directly from the supplier thereof, fo the lessee. The lessee aqrees to acrept such"shipment and the parties agree fhat their righf's
' and ob!igations under this agreement shall not be affected by arq deiay in shipment by fhe supplier caused by circumstances beyond its control, including bui ra1
limited to, Acts of God, fire, flaod, war,government regulations, directians ~r request, accidznts or labor t~ouble. lessee (urther agrees that lessor shaU not be liablg
for any lass or damage bp reason of delay in shipment caused by any of 1he foregoing circumstantes.
C. lessor mar assign or otherwise Iransfer this lease and the rent due or to become due thereunder and when so assigned or transferred it shall be free of any counter~
daim, offset, deferse or cross complaint as against su~h assignee, Lessee reserring such remedies hereunder soleiy against the lessor. Tht term "lessor" wherever
used in this lease texcept for purposes of tFis parag!aGh C of A~t~cle IIII includes le~sor's successor's and assigns.
D. Ltssee agrees thaE lessor sh~ll nct be held•respor.sible for any loss o~ damage to lessee, i!s customers, or a^y third parties, taused bY failure of the Equiamen~
covered 6y this lease to functicn in whote ~r in pa;t. lessee shali indemnifr tessor against, and held Lesser harmless from any and all cla±ms, actions, suits,
proceedings, tosts, ezpenses, damages and liab~!ities, intluding at+orney's fees, arising eut af, connected w~th or resul!ing frem the Equipment, including without
• limitation the martufacture, selection, deliverr, pOSSesSion, use, o~eration or retum ei the Eqnipment.
E. Upon termination of this lease by ezpirotion of tFe term hereof er of any renewa! cr exteMion or up~n terminalier for ar.y other cause, lessee ai~l, at its ewn cosk
and expense, Fromptly return Equipmer.! fo Cessc~ at an address specif:ed by lessor, in same cendition as received, rea~onable wear and tear and normal ~epreciatio~
excepted.
F. Ir the erent that anr payment ef rert shail have 6ecome due as herei~ prov~ded and shall re~nain un~a~d for ten da~s, cr if ~essee bece~es irscl~en!, ceases to do
business as ~ goirg concern, makes an ass~g^mert icr the be^e(i! of credifors, cr if a petit~on fcr a rece~ver or ;n bankruptcq is filed 6y er against Lessee, or ir th~e
event of any olher breach of anr previsie~ of this lease by le5see which hreach shall nat have been c~red with;n ten days af'er netice the~eof mailed postpaid la
the tessee at lessee's last knawn ad9ress, l~sser may lesse~ s opfien deda~e lessee to be in t~efault and terminate this lease ar.d lessee w:El fe~thw~i?h make 'he
EG~ipment arai!ahle to Lessor in aacr~ar,ce with paragra~h E of t~is Article III and Lessee sha11 forihwith pay fo lessor anr damage cccasiorted t~ LESSOr by reason
of sai~ breach and lerrninatien, it beirg agreed tnat i~ permi~!ed by a~pl~cable law such damages shaH h? me~su~zd by the diN,erencA between the val~e of the
Equ;pment at ~he time o` its irsta'taticr. addi^g there!c all eapenses o` ~epo~sesslcn and sale, a.^:d the s~'e prce thereof a! public ar rrivate sale a(ter repossessio:~
less any rentals theretofere paid ~r lessee !or the use uf the Equ~pmen! or as rerttal decos;t. les'.f~, as a~ alternative to the fc*ego~~g cpiion to retake possession,
rnay a! tessor's opt~~n Ceclare a!I of the rzmaining rent at erce due and ~a~a51e a^d ~?ssee in that e~ent «il? par su~h remain~~9 rental (ert~wi±h to lessor, wi!h
intc~est thereon at the rate of 1;'30th of t°% ~er day f~cm date ef deFavlf u~'il paid: buf not exceediny the lawful maz+murn, if any, bu± upcn such paymeni lessee
shafl rot be refieved of its o~her ob!i~aticns !±ereunder an~ s~ail resp:^d in damages !e Lesser fo~ any brea;h fhereof. If after defaa!t fihis Iz~se is Dlaced in the hands
cf an a!torne~ for coliectian cf ur.paid rent cr en`erceme^~ of a~y clhe~ r;g~t e~ re~e~y cf Lessor, lesspe shall pay reasorablP aft,mey fees [t~~•entr percent (1Q°;) o{
Fhe rent~l then remaining u^paid, if Ferr~itted by law].
S. for the sele purpose of resalvi~g ary proble!~ ~f conf!ict oE !aws {ith -espec` fa ~ling cr recerd~r;g herecf, i' is decla~ed and agreed that ihis ?ease shali be dee^~ed
to be effective w?~en the EGuipment is del;~e~ec' at tFe add,ess s~ec~`'°~ 0~ re+ers~ hereof a~d `Fa1 q~es' ens e' `iLr,g or rece~d~ng ~ha'i be determined by t~e
law of such place. lessee agrees to ezewtz a^r irstru~~en! retess.ry t~ fi;i-g ar re~_ording tn;s agr?emen! ~po^ reques' f~em tessor.
H. That ~essor and the supp!ier of the F~u;pment makes r,o r+arran±y ezp~ess er ~^~~I[e~ in ccnr.ec!ic~ n~it~ s Lease cr 'he Equ~pmen! ercep! that !he ~upplier o`
the E;uipment w?rrants ;he Equ;pment ~n accordance with ih st~rrda~d warranfy lhereof. Tr~s lease s~a!~ ~^t be b:r,d:~g cr, lessc~ unl~i ezewted by an auth~riied
cfficer or manager o` ltssar;
After its initiai term, th~s lease shall be aa'o~^:aPica!iy rer?w?d each year fo~ a'?rm c' c^z ye;r, a! the reae~al rental seer`~ed cn the reve;se hereof, Nayaole i^:
ad+ance, a~d other°N:se ursn the fe;ms and cend;!ic^s heree`, uf!ess Lessee gives less~r ~~~tfen ~ot;t? ef ca~cell.atio^ ;east !hirty {301 days befefe !h? exp:ra
tion ef the intial or subsequent renew~) term.
A^r Previsicr here+n cor!aired wF.;ch may he T,ai;c; ur~e~ arr''c~5!e iax, ~r ar:~ gc~ern^~enta, rule or ;e~ufa!;qn s~,ail b? deemed omitte~, rn~~ified cr aiie~ed to
c~nform therefo.
K. Upon d~ecufian of th~s fease, tessnr ~viil tr?at t^:> !ransat!iee f:r ~az pu•poses in ac~~r;!a~te with !nte~na! Re~renuQ $ureau R~tlir~g Na b5,540.
t. Th~s lease and any addendum ~he~e!: a!tar_he~ a~d ;~gre~ by !~e pa~ties ccc~`i!u'es the en!i~e ~greement c~f !he parties with ~espett to the su5;ect matter herPOf
he ayert or emp~eyee ef !he Su}~;'~e~ ~s a~~`^oried to blr, lessc~ to +~ls I~ase, to waive or a!fe~ a^~ te~m u~ randition pr;nted herein or add ary provision hereto.
`:~t:~ aoox~~ F. ~JJ~
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