HomeMy WebLinkAbout0214 Psgc -2-
event of loss or damnge of any kind whutever to any item of equipment~ lessee at the opdon of lesaor
shall: (a) place the same in good repair. condition and working order; or (b) replace the same with like
equipment in po:.d repair, condition and working order. Lessee further agrees to maintain fire insurance
with extended co~•erage provisiona to the full inaurable value of the equipment during the term of this i
leuse or any extension hereof. Said insurance ahall be written in a Company satisfactory to lessor~ said
Comnany to be licensed in State in which equipment is located, and the lessor shall be therein named as
the loss payee. The policp of insurance shall bs at. sole cost and expense of les.see; it shall be deposit~.~l
with the lessor during the term of this lease and shall conta~n an endorsement that the insurance cover-
age shall not be cancelled without 30 daye prior notice to lessor. ~
9. $urreuder: Upon We expiration or earlier termination of this lease~ lessee ahall return to lessor the eqvlp-
Ynent in good repair. conditian or working order. ordinary wear and tear resulting from proper use thereof
~
alone excegted~ by delivering it. packed and ready for shipment. to such place or carrier as lessor may
specify within the city or county designated in paragraph 3 above.
. •
10. Taaea: I.essee shall keeo the equipment free and clear of all levies, liens and encumbrances and shall pay
all license fees. registration feea, assessments, charges and taxes (Municipal. State and Federal) includ-
ing but not limited to ad valorem taxes, which may now or hereafter be imposed upon the ownership.
leasing, renting, sale, possession or use of equipment Under na circumstances is the lessor responsible fur
the nayment of Personal Property Taxes, The lessee agrees to report the equipmenr covered by the Lease~
where required, to all Laxing agencies and is to make payment of all taxes direct to the prope'r agency.
Failure to do so will void any options or contengencies and will be cause for any one or separate actions
as outlined in paragraph 14 tiUed DEFAULT.
7
il. InstaiiaHon: Lessee shall pay all costs af installation~ including drayage from nearest transportation
terminal, unless otherwise specifically set forth in writing and signed by both lessee's and lessor's rEpie-
sentative at time lessce signs lease. Such an agreement to be attached to and becorue a part of this agree• ?
ment. Under no circumstances dces lessor ag~ree to p~ty the c~st of electrical wiring or plumbing in con-
nection with the in.stallation of the equipment covered by thie agreemen~
12. Wurrnnties: I.essee acknowledges that lessor has made no r~presentations and that there are no warran- {
ties, .either expresse~ or implied, except vrritten warrantiee pmvided by lessor, as to any matter whatso- '
ever including, but not limited to, the co~dition of the equipment, its merchantability or fitness for any
particular purpose.
, 13. Indemntty: L~ssee shall indemnify lessor against, and hold leasor harmless from any and all claims~
' actions, suits, proceedings,• cost~, expenses, damages and liabilities. including attorney'a fees, arising out ~
of, connected with or resulting from the equipment~ including without limitation the manufacture, selec• ~
tion, delivery, po.5se.gsion, use, operation, or return of the equipment f
.
~ 14. De~sult: If lessee with re ard to an item or items of ui ment fails to a an rent or other amount
k S Y ~1 ~P P Y Y
j herein pro~~ided arithin ten (10} days after the same is due and payable~ or if lessee with regard to any
€ item or items of equipment fails to observe, keep or perform any other provision of this lease required
~ to be observed, kept or performed by ~essee~ tessor shall have the right to exerciae any one or more of the
~ following remedies:
Y (a) To declare the entire amount of rent hereunder immediately due and payahle as to any or all items
g of equipment, .without notice or demand to les.9ee. ~
~ (b) To sue for and recover all rents, and other payments~ then acerued or thereafter aceruing, with re-
spe~t to any or all items of equipmen~ -
~ (c) To take pussession of anv or all items of equipment without demand or notice.~ wherever same may
~ be located, withuut any court order or other process of law. Lessee hereby ~?aives any and all dam- ~
~ ages occasioned by such taking of possession. Any said taking of possession shall not constitute a ~
~ termination of this lea.se as to any or all items of equipment unless lessor espressly so notifies les.see
? in writing. ~
~ (d) To terminate this lease as to any or all items of equipment.
- (E) To pursue any o*.her remedy at law or in equity. ~
,
Notwithstanciing an~• ,aid repossession, or any other action which lessor may take lessee shall be and
' remain liable for the f~ill performance of all obligations on the part of lessee to be performed under this ;
~ lease. ;
~
~ All cuch reme~3ies are cumulative, any may be exercised concurrently or separately. Waiver of any default `
~ shall not waive any other default.
~ 15. Ranl~uptcy: Neithe: this lease nor any interest therein is assignable or transferable by operation of law.
If any proceedi~~ :inder the Bankruptcy Act, as amended, is commenced by or against the lessee, or if ~
~
As .
~ 2~~ ~
~ g00K~~~ PAGE
~ ~
~
~
~-~r
: ° ~
~ , ~
.R.~~~.~-~~~ ~~~~'~~~,..w.._