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HomeMy WebLinkAbout0153 r 8. Loss and Damage: Buyer hereby assumes and shall bear the entire risk of loss and damage to the equipment from any and every cause whatsoever. No loss or damage to the equipment or any part thereof shall impair any obligation of buyer under the contract which shall continue in full force and e.fect. In the avant o! lass or damage of any kind whatsoever to any Item of equipment. buyer at !h$ option of seller shall: (a) place the same in good repair. condition and working order; or (b) replace the same with like equipment in good repair, condition and working order. Buyer further agrees to main- tain fire insurance with extended coverage provialons to the full insurable value of the equipment during the term of this contract or any extension hereof. Said insurance shall be written in a Company satisfactory to seller, said Company to be licensed in State In which equipment is located, and the seller shall be therein named as the loss payee. The policy of insurance shall be at the sole cost and expense of buyer; it shall be deposited with the Geller during the term of this contract and shall contain an endorsement that the insurance coverage shat) net be cancelled without 30 days prior notice to seller. 9. Taxss: Buyer shall keep the equipment free and clear of all levies, liens and encumbrances and shall pay all license tees, registration fees, assessments, charges and :axes (Municipal, State and Federal) including but not limited to ad valorem taxes, which may now or hereafter t>e imposed upon the owner- ship, leasing, renting, sale, possession or use of equipment. Under no circumstances is the seller responsible for the payment of Personal Property Taxes. The buyer agrees to report the equipment covered by the contract, where required to all taxing agencies and is to make payment of all taxes direct to the proper agency. Failure to do so wit! be cause for any one or separate actions as outlined in Paragraph 14 titled DEFAULT. to. Installatbn: Buyer shall pay all costs of installation, including drayage Irom nearest transportatior. Terminal, unless otherwise specifically set forth in writing end signed by both buyer and seller's repre- sentative at time buyer signs contract. Such an agreement to be attached to and become a part of this agreement. Under no circumstances does seller agree to pay the cost of electrical wiring or plumbing irr connection with the installation of the equipment covered by this agreement. ' 11. WARRANTIES: BUYER ACKNOWLEDGES THAT SELLER HAS MADE NO REPRESENTATIONS AND THAT THERE ARE NO WARRANTIES, EITHER EXPRESSED OR IMPLIED, EXCEPT WRITTEN WARRANTIES PROVIDED BY SELLER, AS TO ANY MATTER WHATSOEVER INCLUD- ~ ING, BUT NOT LIMITED TO, THE CONDITION OF THE EOUiPMENT, ITS MERCHANTABILITY OR j FITNESS FOR ANY PARTICULAR PURPOSE. WARRANTY IS ft0 DAY FREE REFRIGERATION SER- VICE AND ONE YEAR REPL"ACEMENT OF ANY DEFECTIVE PARTS F.O.B. FACTORY. SELLER NOT RESPONSIBLE FOR LOSS OF PRODUCTS OUE TO ANY MECHANICAL FAILURE- ! { 12. tndemnlty: Buyer shall indemnify seller against, and hold seller harmless from any and all claims, actions, suits, proceedings, costs, expenses, damages, and liabilities, including attorney's fees, arising out of, connected with or resulting from the equipment, including without limitation the manufacture, selection, delivery, possession, use, operation, or return of the equipment- ' 13. This Statement is tiled to perfect a security interest in collateral - under a security agreement signed by debtor authorizing secured party to file this statement. 14. Default: If buyer with regard to any item or items of equipment fails to make Payment or other amount ` herein provided within ten (to) days after the same is due and payable, or if buyer with regard to any item or items of equipment fails to observe, keep or perform any other provision of this contract required to be observed, kept or performed by buyer, seller shall have the right to exercise any onp or ~ more of-the following remedies: (a) To declare the entire amount of contract hereunder immediately due and payable as to any or all a items of equipment, without notice or demand to buyer. E ~ (b) To sue for and recover all payments, and other payments, then accrued or thereafter accruing, with ~ respect to any or all items of equipment. r ~ (c) To take possession of any or all items of equipment without demand or notice wherever same may be located, without any court order or other process of law. Seller hereby waives any and all damages occasioned by such taking possession. Any said taking of possession shall not constitute a termination of this contract as to any or all items of equipment unless seller expressly so notifies buyer in writing. (d) To terminate this contract as to any or all items of equipment. (e) To pursue any other remedy at law or in equity. r . (x342 PEE x.53 , _ ~y~ T ~