The URL can be used to link to this page

Home My WebLink About1492 . 1'.~~c -2- event of lo~ or dam~ge of any kind whatever tc? any item of equipment, ir:~see at the option of lessor shall: (a) ;~lace the s.lr.ie in good repair, condition and working arder; or (b) replace the same with like equipment in ~o~d repair, condition and aorking orcler. Lessee further agrees to =.naintain fire insurance w~ith extended co~•crage provi.sions to thc full insurable value of the e4uipment during the term ~f this lea~e or auy extension h~reof. Said insurance shall be written in a Company satisfactory to les.5or, said Comnany to be licensed in Slate in which equipnient is located, and the lec;.~or sh:ill be therein named as the loss payec. The policv of insw-ance shall be at the sole cost and ex~ense of Ie~.Cee; it shall be depositc~l with the lessor during the term of this lease and shall contain an endursement ihat the insurance cover- age shall not be cancelled without 30 days prior notice to lessor. y, juccr.ncier; Upon li,e ~pirat.:ar~ a: ~ar:~er termination of this lease, lessee shall nturn to lessor the equip- ment in ~ood repair. condiaon oi• K•orking ocder, ordinary wear ar.d tear resulting from proper use thereof alone excerted, by deli~~ering it, packed and i~eady for shipment, to such place or carrier as lessor may specify within the city or county designatecl in paragraph 3 above. 10. Tax~: I.essee shall keea the equipment free and clear of all le~~ies, :iens ~nd encttmbrance~ and shall pay all licen.4e fees, registration fees, assessnients, charges and taYes (biunicipal, State and Federal) includ- ing but not limited to ad valoreni taxes. w~hich may now or h~ereafter be iu~posed upon the ownershi~~, leasing, renting, sale, pc~ssession or use of equipment. Under nn cimumstances is the lessor responsible f~~r the nayment of Personal Property Ta.~es. The lessee agrees to report the equinment covered by the Lea~e, where required, to all ta.~cing agencie_ and is to make payment of atl taxes direct to the proper agency. Failure to do so will ~•oid xny o~~tions or contengencies and will be cause for an~ one or separate actions as outlined in paragraph 14 titled DEFAULT. 11. In~t~iiaNon: Lessee sh111 pay all costs of instaltation, including drayage from nearest transportation term:nal, unle~.~ other~~~ise specifically set forth in w~riting aud si~ieci by both lescec~'s and lessor's repre- sentative at timc lessee signs lease. Such an agreement to be attached to and becomc a part of this agc•ee- ment. Under no circiimsta~ces does leasor agree to pay the cost of electric~l wiring or ~~lun~bing in can- nection w ith the installation of the equipment covered by this a;r2ement. 12. ti~arrau[i~: I.e~see acknowledges that lessor has made no representations and that thcre are no wamsn- ties, either expre~~e~: c~r i~vplied, escePt v.•ritten warranties pmvided by lessor~ as to any matter whatso- e~er includin~, but not limited to, the co?:dilion of the equipn~ent, its merchantability or Ftness for any part:~::.3r ptu'pose. i G 13. indemnity : Lessc~e shall indemnify lessor against, and hold lessor harmless from any and all claims, ' actions, suits, procE~edings, cosLs, c:xpense.s, damages and liabilities, including attorney's fees, arising out ~ of. connected with or resulting from the equipment, includ'uig with~t~t limitation the manufacture, selec- ~ ssassiou use, o ration or return of the ui men~ tion, detivery, pa , ~ . e9 p ~ ~ 14. Default: If lessee with regarcl t~ any item or items of equipment fails to pay any rent or other amount ~ herein Fro~~id~d wzthin ten (10) days after the same is duc and papable. or if les.see with regard to any ~ item or ite,ms of equipment fails tci observe, keep or perform any other provision of tlus lease required ~ to be observed, kept or performed by lessee, lessor shall have the right to exercise any one or more of the - following remedies: ~ (a) To declare the eutirc an~ount of rent hereunder immediately due and payable as to any or all items ~ of equipment, without noticc or demand to lessee. ~ (b) To sue for and re~cover all rents, and other paymenLs, then accived or thereafter accruing, with re- ~ spect to a.ny or all items of equipmer,t. ~ (c) To take pussession of any oi• all items of equipment without demand or notice, wher~ver same may be located, ~vithout any court order or other process of la«. Les.see hereby waives any and am- ages cec.~~ioned 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 equij~ment unless lessor expressly so notifies Ie.SSee _ in writing. R~ (d) To terminate this lease as to any or all items of equipment. " (e) To pursue any other remedy at law or in equity. Notwithst~~nciing an}~ ~aid repossession, or any other action which lessor may take le.~see shall be and remain liable for lhe full performance of all obliga:ions on the part of lessee to be performed under this - lease. ~~L All such remedies are cumulati~e, any may be exercised concurrenUy or separately. Waiver of any default shall not waive any oLher default. ' 15. Rankruptcf: \'eithe: this lease nor a.ny interest therein is assignable or transferable by operation of law. If any pr~ceedin~~ ~inder the Bankruptcy Act, as arnended, is commenced by or against the lessee~ or if ; R;:^~~ °0~~23~ ~~1491 ~-r e ~:m . ~ . , ~ ?;!~`f: ~ . ' • . ~ . ~ ti._ . - . . . " . ' . - • ~ ~'.i ' ^~s: - - - " ' ~ 3 ~s.~.r( eJ~.S. a""~ ~'v." "".u.a~......_ ~ . . . , . , ~~s "~'~'i