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the lessee ia ~udged ineolvent, or it t2?e leeses mates sny asai8nment ior tbe beneflt o! his creditore, or
fi s writ of ~ttachment or execution ia levied on sny itsm or itema oi tbe equipment and 3s not releaBed
or satia8ed within ten (10) daqs thereatter, or ii s receiver ie appointed in any pmceeding or action to
which the lesaee ia a party with authority to take poeaeesion or control oi any item or itema of the equip-
men~ lessor abaU have and may euerciee aRy one or more af the remediee set forth in paragraph 14 hereof ;
and this lease al~aU, at the option of leesor, without notioe. immediateu? ternainats and ehall not be treated
as an aeeet o~ laesee after the ezercise of said option. Leeeee waives all rtgbt under all ezemption lawa.
16. Lessor's Ezpensee: Le+asee ahall pay lessor all costa and expenaes. including attorney's lees, incurred by •
leesor ~n exercising any of its righta or remediea hereunder or enioreing any of the terms, conditiona or
provisions hereof.
1T. AesiBnment: Without the prlor written consent of lessor. lessee ahall not (a) assign, transfer, pledge or
hypothecate tbia le~ase, the equipment or ~ny p~art the~eof, or any interest therein or (b) sublet or lend
the equipment or aay part tbereot or permit the equipment or any part thereof to be used by anyone
other than leeaee or l~asee's employeee. Consent to any of the foregoing prn~u'bited acta applies only in
the g~iven inatance; and ia not a conaent to any aubeequent like act by lessee or any other pereon. 3ubject
~ alwaya to be the fore8oin8. this le~lae inmree to the beneSt oi, and ia binding upon, the heirs, legatees,
peraonal ~repreeentative~, ancxesaors and aaai8na oi the parties hereto. 3hould leseor on reoeipt oi written
requeat irom leasee a8ree to tranefer or asaign lease to third party, lesaee agreea to p~ay lesaor its expense .
in bandlin8 such transier or sssignmen~ This amonnt not to be lesa than flfteen dollars (~16.00).
18. I.ee~or'a Aesignment: It ia nnderetood that lessor oontemplates asaigning this lease and/or mortgaging o~
the equipment, and that assignee may aseiS~a the eame. All righta of lesaor in tbe equipment and here-
nnder may be aasigned, P1ed8ed, mortgaged, tran$lerred, or other~viae dispo~ed of, either in whole or in
part, withont notice to leasee. The aaaignee's rlghta ahall be free from all defenaee, setroSa or oounter-
cisima wluch lesaee may be entitled to aasert against lesaor. No auch assignee shall be obligated to per-
iorm any duty, covenant or oondition required to be peztormed by leaeor nnder the terma oi thia le~se.
.18. Own~rshiP: The eclniP~ment is, and sball at all tim4e be and remain, the eole and ezclusive personal prop-
' erty o! leasor; and the lesaee ahall have no right, title or interest therein or thereto exoept as eapressly set
iorth in this lease. It is iurtber exPi'ees~y a8reed by leeaee that the said equipment ahall at all times be
removable as the peraonal pmpertY of the lessor and under no Gircumatances ahaU the eame be oonaidered
or treated sa p~u't oi the r~lt3? or real propesty npon wbich it is or may hereafter be aituated.
20. Intereet: Should les~see fail to PaY any part ai the rent herein reaerved or any othez eum required by .
i lesaee to be Paid to lesaor, within ten (10) daya after the due date thereot, leaeee ahall p~y unto the lessar
! inter~t on anch delinquent paymeat from the eapiration of said ten (10) daya until paid at the rate of
` aiz per oent (696) Pe~' annum. .
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~ 21. Nottaes: 3ervice of all notices under thie a8reement ahall be sufficient if given or mailed to the p~rty
involved at its respective address heareinafter Set iorth, mailed to ench addreas ahall be effective when
depoeited in the United 3tates mail, dnly addressed and with postage prep~aid.
22. In consideration of the mutual coVenants cwnt~cined herein, lessce ia hereby granted the option to obtain a
new one-yesr lease at the annual rental o! s S i XTY S 1 X t na/100-~~~~~~M~N~~~M~~~~~~~~~
Said option may be eaercised by lesaee by written notice to that eSect to lesaor,
which notice ahall be accompanied bY Iu+Y~ent of the entire annual rental above deacribed, and which
abaII be delivered to le~aor, not l~s then ninety ( 90) days before the expiration oi the term hereof, to-
gether with the sum required for taaes ss apecifled in Paragraph 10 herein above. Ssid new one (1) year
term, any succeedin8 one (1) year term, ahall carry an identical option hereto, and eacept or the amount
02 reatal, ~ch new lease shall be subject to proviaions and conditions identical with those of this leaae.
The rental payable for each new lease ahall be that apeciSed in Paragraph 22 as payable for tbe Srat new
le~se. Notwithatandia8 anythin8 Provided in tlus P~raB~sPb, ~ no event ehall lessee option to obtain
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m~ ~p„ f i ve ( 5) eucceeaive new leaaes hereunder.
23. Geader: Number: Whenever the conteat oI this leaee requirea, the masculine gender includes the feminine
or neuter. and the sia8ular number includes the plnral; and whenever the word "leasor" ia used herein it
ehall incinde a11 asai8~nees ot leasor. If there is more than one lesaee named in this lease, the liability of
~ch ahaU be joint ana esveral.
Tlme fs uf the E~eea~e: Time ia e~apressly declared to be of the easence of this lease and ot each clause
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