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event of loss or damage of any kind whatever to any item of equipment. lessee at the option of lessor
shall: (a) place the sar:ie in good repair~ condition and working order; or (b) replace the same with like
equipment in ~o~d regaie•, condition and ~vorking order. Lessee further agrees to ~naintain fire insurance
w~th extended co~•erage provisiona to the full insurable value of the equipment during the term of this
lease or any extension hemof. Said insurance shall be written in a Company satisfactory to lessor, said
Comuany to be licensed in State in which equipment is located, and the lessor shall be ther~in named as
the loss payee. The policp of instu~ance shall be at the sole cost and expense of lessee; it shall be deposited
with the lessor durinR the term of this lease and shall contain an endorsement that the insurance cover-
age shall not be cancelled without 30 days prior notice to lessor.
9. 3urmnder: Upon the expu`ation or earlier termination of this lease~ lessee shall return to lessor the equip-
ment in good repair. condition or working order. ordinary wear and tear resulting from proper use thereof
alone excei~ted, by delivering it, packed and ready for shipment, to such place or carrier as lessor may
specify within the city or county desi~ateci in paragraph 3 above.
10. Taae.v: I.essee shall kc~eD the equipment free and clear of all levies~ liens and encumbrances and shall pay
all license fees~ r~gistration fees. asse,gsnients, charges and taxes (Municipal, State and Federal) includ-
ing but not limited to ad valorem taxes. which may nova or r.ereafter be iinposed upon the ownership.
leasing, renting, sale, pc~ssession or use of equipmen~ Under no circumstances is the lessor responsible f~~r
the nayment uf Personal Property Ta.~ces. The lessee agrees to report the eyuipment covered by the Lease.
where requined. to all taxing agencie~ and is to make payment of all taxes di~ct to the prope'r agency.
Failur~ to do so will void any options or contengencies and will be cause for any one or separate actions
as outlined in p:~•agraph 14 titled DEFALTI.T.
1L In~ts~Iation: Lessee sh111 pay all costs of installation~ including drayage from nearest transportation
terminal. unle~s otherK•ise specifically ~et forth in writing and signed by both les_~ec:'s and lessor's rept~e-
sentative at time lessee signs lease. Such an agreement to be attached to and become a part of this agree-
ruent. Under no circumstances does les.sor agree to pay the cost of electrical wiring or plumbing in con-
nection R ith the installation of the equipment covered by this agreement.
12. ~i'arrnnHes: Lessee acknowledges that lessor has made no representations and that there are no warran-
ties, .either e.xpressec: or uuplied, e.~ccept w. ritten warranties provided by lessor, as to any matter whatso-
ever includin~, but not limited to~ the coLdition of the equipment, its merchantability or fitness for any
particular purpose.
13. Indemnit~ : Lessee shall indemnify le~sor against, and hold lessor harmless from any and all claims.
actiuns, stuts, procErdin~s, costis, expenses, damages and liabilities, including attorney's fees~ arising out
I of, connected nith or resultin~ from the equipment, including withovt limitation the manufacture~ selec-
~ tion, delivery, poc~c;ssiou, use, operation, or return of the equipmenk
14. Default: If lessee with regarcl to any item or items of equipment fails to pay any rent or other amount
herein pro~•ided ~~thin ten (10) days after the sxiue is duc and payable. or if les.see with regard to any
item or items of equi~~n~ent fails to observe, keep or gerform any other ~rovi5ion of this lease required
to be observed. kepL or performed by lessee, l~sor s~hall have the right to exercise any one or mor~ of the
foltowing remedies:
(a) To declare the eutirc amount of rent hereunder immediately due and payable as to any or all items
of equipment, without notice or demarid to lessee. ~
(b) To sue for and reco~~er aU rents~ and other payments, then accrued or thereafter accruing. with re-
spect to any or all items of equipment.
(c) To take pussession of auy or ~ items of equipment without demand or notice, wherever same may
be located, ~aithout ar.y court order or other process of la«. Lessee hereby waives any and all dam-
ages oce~~ioned by sucli taking of possession. Any said taking of possession shall not constitute a
termination of this 12a.se as to any or all items of equipment unleas lessor expressly so notifies le.ssee °
~ in writing. -
~ (ci) To terminate this lease as to any or all items of equipment.
^ (e) To pursue any other remedy at law or in equity.
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~ Notwithst~wciing an,• ~aid repossession, or any other action which lessor may take lessee shall be and
reinain liable for lhe full performance of all obligafions on the part of lessee to be Ferformed under thi.s
lease.
- All ~uch remer3ies are cumulati~e, any may be esercised concurrently or separately. Waiver of any default
shall not waive any otber default.
15. Banlu~uptef: \eithcr this lea.se nor any interest therein is a~signable or transferable by operation of law.
If any proceedin~~ :~nder the Bankruptcy Act, as arnended, is commenced by or against the lessee, or if
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