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Home My WebLink About0638 Page -2~ event of losa or damage of aay kind whatever to uny item of equipment, lesaee at the option o! lesaor ahall: (a) place the same in good repair. condition and working order; or (b) replacs the same with like equipment in good repair. condi~ion and worging order. Leasee ~urtber agteea to maintain flre in$urance with extended coverage pmvieiona to the iuU inaurable value of the equipment during the term o! t~?ia lease or any eatenaion bereof. Said insurance sbaD be written in a Company eatisfactory to lesaor, 8aid Company to be liceneed in State in wluch equipment ie located, and the lesaor ahall be therein named aa the losa payee. The policy o! insnranoe ahall be at the eole coat and expenae o# leeaee; it aball be depoeited with the lea8or durjng the term oi tbia le~se and ahall contain an endorsement that the ineuranoe oove~ age shall not be cancelled without 80 daya prior nottce to l~aor. 9. '3~r~Lder: Upon the eapiration or earlier termination a2 this lease, le~see ahaU retnra to lessor tLe equip- - ment in good repair, condition or working order, ordinary wear and tear reeulting from proper uae thereof alone exoepted. by delivering it, packed and ready ior ahipment, to such place or carrier aa leesor may epecify within the city or connty deaigaat~d in paragraph 8 above. , 10. Tazes: I~essee aball keep ~he_ equipment ~ire~ and clear of sII leviea, liene and enGUmbrances and sLall pay all licenee ~ees,. regiatr8tion fees, asseasmenta; cliarges und taaes (Municipal, 3tatk and Federal) includ- ing bnt not limited' to ad valore~n taze~, wLich msy now or hereatter be imposed npon the ownersbip, Iesaing, renting, sale, posseesion or use oi equipmen~ Leesor shall have, at ita election; t,~?e =igbt to pay any of eaid obligations, and ~n tLat event the oost thereof shall be repayable to leesor with the next inatallment of r~nt and lailnre to rep~y the same shall carry with it the same oonsequencee, including intereat at six per ceat (6%) P~' annum, sa failure to pay an instaltment ot r~a~ 11. InataDation: Leasee sbsll pay all cwsta of in8tallation, inclnding drayage imm neareet trana~+ortation terminal, unlesa otherwise specificat~? eet forth in writing and signed by both lessee'a and 1e~saor'a repre- sentative at time leesee signa le~ae. 3uch an agreement to be attached to and become a part of this agreo- men~ Under no circumatancea does lesaor agree to pay the coat of electrical wiring or plumbi~g in con- nection with the instaUstion oi tLe equipment covered by this agreemenk 12. Warranties: Leasee aclmowledges that leesor haa made no representationa and that there are no warran- ties, either exPressed or implied, eacept written warrantiee provided by lesaor, as to any matter wl~tso- ever including, but not limited to, the condition of the equipment, its merchantability or Stnesa for any P~rticular purpose. ~ ~ ~ 13. Indemnity: Leesee ahali indemnify leeaor sgainet, and hold lessor barmleas from any and aU claims, actiona, enita, proceedinga, oosts, ezpensee, damages and liabilitie$, including attorney's leea, ariaing out , of, oonnected with or reaulting irom the eqnipment, including without limitation the manufacture, aele~ ! tion, delivery, posaession, use, operstion, or retnrn of the equipment. ~ ~ 14. Defanlt: ~f lesaee with regard to any item or items o! equipment faila to pay any rent or other amount ~ hereia provided within ten (10) dsya after the 8ame ~s due and payable, or ii lesaee with r~gard to any item or items of equipment faila to observe, keep or perform any othe~ prnvision of this lease required to be observed, kept or performed by leeaee~ le~sor shall have the right to ezcercise any one or more of the iollowin8 remedie~: (s) To declare the entire amonnt oi rent herennder immediately due and payable aa to any or all items of equipment, without notice or demand to lessee. (b) To sue for and reoover all renta, and other paymenta, then accrued or thereafter acGruing, with re- spect to any or all items of equipmenk (c) To take posseeaion of any or all itema of equipment witLout demand or notice, wherever same may be located, without any conrt order or other procesa of law. Lessee hereby waives any and all dam- ages occasioned by sucL taldng oi posseeaion. Any eaid taking of posaession ahall not constitute a ? ~ termination of thia leaae sa to any or all items of equipment unleas lessor ezprea~y so notifiea lesaee ~ in wrltin8. . ~ (d) ~o ternninate thia lease sa to any or all itema oi equipment. ` (e) To puraue any other re~medy at lsw or in eqnity. ~ Notwithatanding any said repoeaeeaion, or any other action which lesaor may take lessee ahall be and re- =i main liable for the tull pertormance of all obligatione on the part of lesaee to be perlormed under thia ~ le~ae. 5 ~ AU such remeriiea are cumnlative, any may be eierciaed concurrently or aeparately. Waiver o! any default ~ aball not waive an,y other detault. ~ ~ ~ 16. Banfcraptcy: Neither thia lease nor any interest therein is saai8nable or transfeaable by operation of law. ~ Ii any proceedin~ nnder the Banla~uptcy Act„ aa amended, is commenced by or againat the lesaee. or if ~ ~ gppK~ fU FACE ~ 6~6 ~ ~ ' : ^ ~ _ r ~ W _ `~~`~~c~=• _