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HomeMy WebLinkAbout0215 Y.igc -3- i ; ! the le8see is adjudged insolvent~ or if the lessee makes aqy assignment for the benefit of hie creditorn, or if a writ of attachment or elcecution i~a levied on any item or items oi the equipment and is not released or satisfied within ten (10) days thei~eafter, or if a receiver is appointed in any proceeding or action to which the lessce is a party with authority to take posse.ssion or control of any item or items of the equip- ment, lessar shall have and may exercise any one or mor~ of the remedies set forth ia paragraph 14 hereof; and this lease shall, at the option of lessor, without notice. immediately termiuate and shall not be treated ~ as an asset of les.gee after the exer~ise of said option. Lessee waives all right under all exemption laws. 16. Lea.gor's Expeasus: Lessee shall pay lesaor all casts and expenses~ including attorney's fees. incurred by lessor in exercising any of its rights or remedies hereunder or enforcing any of the terms, conditions or provisions hereof. 1?. Aesignment: b1~ ithout the prior written cons~nt of le$sor~ les.gee shall not (a) a~ign~ transfer, pledge or hypothecate this lease~ the equipment or ~ny part thereof, or any interest therein or (b) sublet or lend the equipment or any part Wereof or permit the equipment or any part thereof to be used by anyone _ other than lesse~e or lessee's employeea Consent to say of the foregoing prohibited acts applies only in the giveu insta.nce; and is not a consent to any subsequent like act by lea9ee or at~y other person. Subject alR~ays to be the foregoing, this lease inures to the benefit of. and is binding upon, the heira, legatces personal representatives~ successors and assigris of the parties hereto. Should lessor on receipt of written request from !essee agree to transfer or a.ssign lease to third party, les.9ee agrees to pay lessor its expense ~ in handling such transfer or assignment. This amount not to be less than fifteen dollars (~15.00). 18. Lesgor's Assignment: It is understood that lessor contemplates assigning this lease and/or mortgaging of ; the equipment~ and that assignee may assign the same. All righta of lessor in the equipment and here- under may b~~igned~-~ledged,_.m~rtgaged, transferred. or otherwise disposed of~ either in whole or in part, without notice to lessee. The assignee's rights shall be free from all defenses~ set-offs or counter- claims which les~ee may be entitled to assert against lessor. ~Vo such assignee shall be obligated to per- farm any duty, covenant or condition required to be performed by lessor under the terms of thia lease. 19. Ownership: The equipment is, and shall at all times be and remain~ the sole and exclusive personal prop- erty of lessor; and the lessee shall have no right, title or interest therein or thereto eacept ae eupr~ssly set ; forth in this lease. It is further expressly agreed by lessee that the said equipment shall at all times be removable as the personal property of the lessor and under no circumstances ahall the same be considered or treated as part of the realty or real property upon which it is or may her~afte,r be eituated. Z0. Intere~t: Should lessee fail to pay any part of the rent herein re.se.rved or any other sum required by lessee to be paia ta lessor, w•ithin tee (10) days after the due date thereof,'lessee shall pay unto the lessor interest on such delinquent payment from the expiration of said ten (10) days until paid at the rate of six per cent (6MO) per annum. - ~ ~ 21. lbTotices: Service of ail notices under this agn.~ement shall be ~ufficient if mailed to the party in~~olved at ! its t~espec:ti.~e address hereinafter set forth, mailed to such address shall be effective when deposited in ~ the United ~Lates mail, duiy addressed and with pastage prep~idf , ~ ~ " r L~i ! ~ • ~ ~ P = new one-year lease at the annual rental of ~ f~ th?"tht^N ~.~/.~0~"'-•------"~`~»(Dollara) ~ - ' ; _ ($_____~3~~ Said optiou may be exercised by lessee by written'notice to that effect to lessor, ~ ~ ~''.1~ which notice shall be accompa.nied by payment of the entire atmual rental above described, and which ~ shall be deliver~ed to lessor, not less than ninety (90) days before the expiration of the term hereof~ to- ~ " gether with the sum required for taxes as specified in Paragraph 10 herein above. Said nea one (1) year ; ~ term~ any succeeding one (1) year term, shall carry an identical option hereto, and except or the amount ~ of rental, each nea 2ease shall be subject to provisions and eonditions identical with those of this lease. ~ `j The rental payab2e for each new lease shall be that ~pecified in Paragraph 22 as payable for the first new ~ 3 lease. Notwithstanding auything provided in this paragrapL, in no event shall les.see opiion to obtain ; ~ _ ~ 4t-"_''_-T~-'r-'~r~~essi~ve-aeov~-}eaxa--kerem~ . ; ' 23. Gender: Number: ~Vhenever the context of this lease requires, the masculine gender ~c#udes the ~minine ~ or neuter, and the singular number includes the plural; and whenever the word "lessor" is used berein it - shall include all assignees of lessor. If there is more than one lessee named in this lease, the liability of ¢ each shall be joint and several. c s'~~Ts oTUie '~sseiece ''~ime ~ex ~rE~y d~'fo~"dt"~~~St~k'dt1.'lf15'"~~'dT?~Zfi'~L'!f~'l~9e ~ ~3a. Titl• upon payment: Z~iti• to leas~d oquiga~nt shall automatically ~ vest in l~s~e• upon lull payment to lessor o! all r~utal payw~Ats r~t ; u ° forth in paragraph 2 her~of . ~ ~ ~ BooK236 PAGE 21~ ~ ~ ~ ~ '°~xe ~ - ~ :1 . y' ~ _ _ .a4x~~`~'~;~'2a~~~.. ~ .r~..~'.,~ . . T"'i`3?...~*P£"~s'j''3~y~~'