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the lcasoe 1a adjudged L~solvcnt~ or !f the le:i:tet~ n~Akrs siny A.~~~,rnn«nt G~r tL~• tx•u••fit h::~ ~ r~~!~?~,r:s, or
if a writ of attachuieut or cxecution Ia l~vic~d nn :ui~ it~~n~ ur u~~ins u( th~~ ~~,ui~:~r,+ r.~. n~~! r~•~ ~.L.~y!
or ~atisiied witliiii ten (l0) days tlierclljtCl'~ ar if :i C('l:(`IVCC !:i 1j'i~t(~li~~t'e; !tt .~r~y j.r~.~~•~r,~iu„ Uf ~l~''~~)t? ln
which 1he lessce i~ a partY witli autliority to tulc:: i,o:~.~:::;;on ~e• +•,.tii:u! c,f .,r.y it~~~,~ ~,r ~t~~~:~.~s ~,f ~l~~• .~~~~:ij.-
ment. les~or shall have und may exerct::c :iny une or more ~~f the r~~~r.~~r.i~ 5rt t~~~~ t h~n j~:ir:,;•r:~~ 1~~,~•~ ~l;
stnd tLi~ teuse shall, at iL8 option of lessur~ witl~out noti~;c;~ iinm~•diat~•iy terminrtt.~ :~mi ~l: ~'1 r~,.t t: •;~tr~i
as an ~.sse:t of lesse~ ufter Lhe e.Y~rci~e of ~icl option. I.r~: re waiy~~:: all ri~2it wi~l~•r :,11 ~•~~••rs~?.t~~,n iati::a.
26. I.ea.goc'y r:xpeus~t: Le::~ee shall pay ler~sor all coyt~a an~l cxpc:n.+c.~, inr~uclin~ s~tt~,ru~~y'i 1~~ in~urr~~i by
lessor in exerci.sing any uf its rigt~ta or remeciies ~creunder or ~r~~orcin~; :.i:y ~~f tae; t~~rm:+, ~•~.~,.~~t ~:~ny ;.r
provisions hereof. .
1T. A~signment: Without the prior written conAeat of leis.gor, le.'s.sc.~ shall r.ct. (a) -aRVit i~, tran. t~•r. ~~i~•~:~;~~ ~,r
hypothecate lhis lea9e, the equijnnent Qr ar?y purt U~crec:f, or any ii~terest tt.~~re;r~ or I bf ::,,1.:~°t •,r I~ nd
tLe equipnient or aqy part thereof or permit the equipmeat ur :~ny pa1~t tnc•r~•uf t~, hf~ u:~-•) t,y ~~:>~.~~r~~~
I,~,~S~ other than~ lee~ee or lessee's einploy~c~..•s, Ct,nsent to nny of t}:e farr~;uin~ ~.r~~i~~'r.,tr~l :~~~s~, :~:.r•.,~~., r~•,;~ in
Wc give» inst:~nce; and ia noL A CGL:~eut to :~ny sub~equcnt like aci by ic::~+: ;.r .uiy ~,tl:~•r ~~~r: ~.n. :;~.r,;~:ct
always to be the foregoing~ thiv lease inuree tci tLe bc-nefiL ~;f~ and i.~ bind;n~; ~~~r~n. t}~~~ ,«•~.:zt~.~s
persoiial reprnsentatives~ successc~ra a~d a"-~.gign~ uf the J~arlir~s hcrM~,. ~houid h•:.::~r on r~~~•••~; ~ j:'~•~~
requesi frora !e~.see agree to L•ansfcr ur a:~ign le..:se to thini j,arty. les~•t` 1~ C('1•Y t~~ j~1;; :=,r i~- ~•x;., n~:c
in haudling sucL transfer or assignmcnt. 'I'hL9 f1I1~O11Ut I30L LO bC 1~9.9 ~,~13i1 fliL~~c~n c!o~lar. t
18. Y.e:~.~ot's A~;siknuaent: It is vaderatood that lc:asor contemplatps as.9ibming +~i.s leas:e andJr,r :k~a~;,a~; ni
tt~ equipmeni, and tbat assiguce n~ay assign t~e aimr.. /~Jl ri~;htt~ of l~~s~r,r in the cqui;,rr:~:~t :,r.,i ia••rr~-
under may Le assign~d, ~?lcxlged, mortgaKc:d, tran.5f~rrc~d. or ~~the2•t~•i::~~ (:LS]?G::t!l1 eitht~r :.h~,!•- i~
~iart, without notice to lessee. The a.ssignee'g i•ifiLts anall }c trr~~ f~-~nu :+il uc~.~~r.scs~ 5~i-r,:j:< •.r ~~~,,.rter-
eldims +vhieb les~ee may be entitlc~ci t.~? as.~ert a~;ai~t le.~or. ti~ ~u~n :L,::c~;ue~ sha;f IN~ ~:s3/ih':~tr•~3 t,er-
form any duty~ covenaut or condition required Lo be ~Wrforrn~,~! by tc.~:::.~' lif~U~::' the teri~::. o: tr•ii :r.•:Ee.
19. Uwnentup: Th~ equipment is, and shall at a11 times be an4 r~main, ii~e sole a::~] ~:xct;~~i~•c r~er'br t~rap-
erty of l~~or; and tlie les.sce ~iall Lave no right, title or int~:r;:~t thcrri-i ~.r thc:r~!u exce~,t ex~+r('~-.I:: ..F•L
forU? in U~i~ lease. It is further cxpr~e~.vly agiti~ed by le::sce Ln~t ine~ ~~i~f c~i:.prLent ~ali ;.t. :,1? t:~u~•:; be
remu~•sbie as tLe personal property of tlie lehsor am! under no circur:?:.uu~~~ 3i~:,1! tt,e w~;un~• t~~ a.~~~, e~1
or treated as part of the t~rilty or reul pr~perty upon which it i3 ~r ni;~~~ l~cm.:Jter Ir,e s~ti~atr~t.
20. Intete~t: Shniild lessee fail to pay any part of the rent herein resen~~l or an~ other sum rrquir~d hS•
I,PS~e lex5~~ w l~ ~,aid tu lessor, within ten (10) days after the dc?e date thereof. les:;r-r; s~,; 1: p:i~~ ~into ti~e le;~.or
:nter~~st on such dclinqurnt payment fmm tLe expiration af ~id ten ~ lUl ~ays u:~tu ,,zi~i a: ti:.~ i at~ uf
eight ~r c~nt (8~.) per annum.
2L `otic~: Servsce uf :ill notices under this agrcement sbail t~ ~uf!'ic~ient if m~;IcYi t~ the S+art~• u~ro'v~l at
it~g re~~~.'(:tIVP addmss hereinafter set forth, mai:ed to such addr~:,s s;~~:~: t?c ~f~~ctr.•c• w•hen 1<;~0-~;~:,1 ir.
the Unitecl ~tates mail, duly addres.sed and witli ~w5tage prepaid.
22. In consideration of the mutual co~~c~nants contained herein. Ief~,See is h.~mh; s;rante~i G7F oE~ti~n tc obtain a
new one-year lease at the annual rental of (i~llsira)
Said option may be exercised by.lessce b}~ writ!::n noli~e-~,that ~ffect to lessor.
which votice shall be aceompanied by payment o~'~ the entire annual m~;t<,1 alx~~ c d~:~c: ib~~i, ~cl wLieh
shall be.~ ~lelivere~i to les.~or, not less than ninety (901 days before thc c-xpu•:.iiur~ of tn~ t~•~~m hemof~ to-
gether with the sum required for taxe$ as s~ecified in Paragraph ll) L~ t~ein abci~~~. S3I(j, :1CR unc> (1) year
t,erm, any succeeding- onr. I1) year Lerm, sltall carry an identical opti~~n her~~;i,, and except or the amount
of rent~l, each new lease sl~all be subject to provisions and con~iitions identic:il :tii.h th~,se of thi9 lease.
The rental payable for cach new lea.re shall l~e tl?at s~cified in Para~rai;h 2'' a.= ~~ayat~le fo~ the fu~t new
lease. Notwithslanding auiything provided in Wis paragraph, in no ev~nt st~:~l1 le5~e oplion La oLttin
r
more than O succesaive new Iea~ hereunder.
23. Gender: Nun~bcr: ~Vhenever the context of this lease requit~ea. the ma.gculinc ~;ender irn~nlra the feminine t
or neuter, anr] the singular numbcr inciudes the plaral; and whenever tbc w•~~r~ "lc~:.: or" i~ u~c?d ~~emin it
shalt u~~.ludc al! assi~nceq of le~.sor. If there ig m~,re than one lessc~e n~mc•d in th~s lea~.~•, th~~ 1:ability of ;
' each gh:ill be joint and gevt-ral.
24. Time Ly o! t6e F_s~nc•e: Time ia expressly declared to be of the e~~nce ~f thi:: le:~.~~~ :tn~i of pach claur;e
bereof and that tLe waiver by the leasor ot atrict. compliance with the tc rms hereof sh:ill nat be treatk~i
or considered as a waiver ot any furthcr or future perPormance due ther~aiter pursuant to the terms ot'
tLie lea,se.
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