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HomeMy WebLinkAbout0510 . 1 • t D. 'I'he HUYER agreee to maintaln, at its principal of~ioe~ full and aomplete reaorde ehawin~ the location of ~ach'item of equipment at aU tlmee. Said rer,ords ehall be available at all tImee to the 9ELLER or ite dul~r authorized representatives for the purposes of inepection nnd the 3EI.I.ER ahall tiave frea acoees at all reaeonable Limes to inapect any equipment fnr the purpose of determining the maintena~ce thereof. E. If any equipment ia atolen or disappeare, or if BUYER failB to keep said equipment in good. oondition and repair, ~ or said equipment ie damaged, and in any euch inatance the equipment cennot reasonably be put back intfl sound good working order end oondition, BUYER ahall immediately pay to 3ELLER on demand the entire balance unpuid hereun~ier. Any insurance proceeds c~overing euch damage or losa Rhall be payable to SELLER and ahall aerve pro rata to r~uce the amount payable under this paragraph by the BUYER, any oxcess over and above BUYER'8 liability hereunder to be retained by AUYER. ' LIABILITY. A. BUYER aseumea sill riek, all responaibility and all liability arising from the poseeaaion~ operation and uee by whom- soever of the equipment and ~vhether impoeed by reaeon of neglect or otherwise, including damages for injury and death to pereona and property howeoever ariRing therefrom or because thereof. BUYER shall in~demnify~ save and hold SELLER harnilese from sny and all of the following whether the eame be actual or alleged: sll claims and liens for etorage~ labor and materials and all loss of and damaga to said equipment and loea, damage, claima, penaltiee, liability and expenses (including attorney'a fees incurred by SELLER due to BUYER'S failure to ~ve and hold SELLER harmlese as provided herein) howsoever arieing or incurred becaus~ of said equipment or the atorage, niaintenance, uee or operatian thereof. BUYER assumes reaponsibility for aU loes or damage by fire~ theft~ c~aualty or other cause whatsoever~ whether of like or difFerent :f nature, and shall keep the equipment free and clear from any and ali claims, liens and legal prooesees of BUYER'S creditora. ~ 8. BUYER shall proraptly oomply with and oonform to all lawe. requiremente and regulatione~ including any liceneing a licable to the ion use maintenance or operation of the equipment in the atatea in which it will be rec~uirementa pp poeeesa , ~ operated and does and ehall assume and pay pmmptly sA coats, expenses and penaltiee of every character arising out of euch poesessian~ u~e, maintenance or operation and ahall indemnify~ defend and save SELLER harmlees against actual or easexted violations of any of the aforesaid laws, requiremente and regulatione. . C. Upon failure of BUYER to keep the equipment kee from a!i taies or liene of any neture whataoever and from all r ctiarges foz repaire, storage~ maintenance, parts, or acceseoriea, SEI.LER may at its election tna]ce any paymants it•deeme . 1 . x~ec~aary or advisable to procure ~r keep the equipment free from any or all of theee. The sum ar aurns so paid by BELLER. together with interest thereon at the high~st lawful oontract rate, shall be and bevome a part of the amount which BiTYER ie required to pay under thia Contract and shall wi~hou~ demand be immediately due and repaid by BUYER to SELLEgt. 8. PREPAYMENT. BUYER shall have the privilege of prepaying at any tin~e all or any portion of the unpaid balance hereunder. Upon payment in full prior to maturity the BUYER ahall be entitled to a rebete of the unearned portion of the finance charge leas a reasonable eervioe ~harga which shall not e:oeed the amount germitted by applicable law. 9. DEFAULT. If BUYEft defaulta on any payment or in the prompt and faithful performance of any of the oovenants, oonditions and agreementa hereof, or beaomes ineolvent, or pxnceedinga in banluuptcy or for a receivership b~ oommenced by or againat BUYER, or if 3ELLER shall at any time deem said ea~uipment in danger of miauee, oonfiscation, canoealment or misappropriation, then 3ELLER may. without notice or demand: (i) deciare the entire unpaid balance and other surna ~ owing hereunder immediately due and payable, and BUYER shall imxnediately deliver poeeeesion of said equipment to 9ELLER and SELI.ER may~ without notice or demand, and with or without legal procees, take iramediats poseession of said equipment~ and for auch purpoee may enter the premisea of BUYER, or any other plaoe where the same may be or be supposed to be; and in any auch caee SELLER may als4. without notioe to BUYER (a) canoel this Contract and any note - or notea given in connection therewith and to the eatent perrnitted by applicable law, as agreed damagee for BUYER'$ breach and for the reasonable rental, use of eind wear and tear on said equipment. retain all payments theretofore received; or (b) reoover from BUYER as agreed damages for breaching this Contract the unpaid balance (together with interest and any other sums owing thereon) after allowing credit on said unpaid balance for the then value of eaid equipment, if posseseion thereof has been taken, or for the net proceecia derived from the resale thereof, after deducting oosts, expenses and attorney's fee~s incurred by 3ELLER or assigns in retating~ repairing~ etoring and eelling the equipment, the overplus, if any, to be rendered to BUYER, it being agreed that SELI.ER or aasigna may, on retaking poeeeesion of the equipment, aell the same at public or private sale without notice or publication, and with or withoat tl~e equipment being at the place of sale. $UYER to pay SELLER forthwith any deficiency after resale; or (u) pursue any remedy provided by law in like casea; or (iii) if the default shall be for nonpayment of •one or more, but le~ than all, of the installmenta, recover from BUYER the amount of euch installtnente in dafault together with interest and any other aume owing in addition to such inataltmenta without . prejudice Lo any other rights of $ELLER under this Contract. 8ELLER'3 rights and remodies shall be cumulative and . not alternative. ~ 10. WAIVE~t. - A. The SELI,ERB aoceptanoe of any in~tallment or payment after it or the full atmunt may have beoome due and payable hereunder, el~all not be deemed to alter or a&ect BUYER'3 obligat'ane aAd/or SELLER'8 righta beraunder with respect to any subeequent paymsnts or defi~ult therein; waiver of any default shall n~t be a waiver of any other default. No waiver or change in this Contract or related note ahall bind 9~ELLER'3 asBignee unleee in writing signed by one of it8 oflioere. . B. No modi6cation of any of tbe ternis or oonditione hereof shall be valid in any event and the BUYER e:preeely waives the right to rely thereon, unlase made in writing duly ezecu~ted by the 3ELLER. BUYER aleo waivee all ezemptions and homeetead lawe. ~ 11. DELINQUENCY. Time is ot the essence of thla Contraet, In !ke e~eat that an~ instaltmeat sLal1 aot 6~~e been pstd whsn dae, aaeh'iastsllment ~hstl in~lade Interest or a penalt~ ehur~e ~t the bl~hast Iswful eotitraet rate eomputed from ita due dste{or eacb ister date ss ma~ be reqa[rcd b~ appiicsble isw) to the date wheu p~id. Ti~e B~IYEIt s~rees, if thts Contrset i! piseed for coltection 1a the bsnde of sn attorne~, aot the asluied emploqee of the holder oi tbe Contrset, to psy sttorne 'e feeg plas conrt eosts nnd ~stwl oot-of-pocket ezpensea ineurred Ia eannation ~+ith aby deiinquenc~ or eoll~:e~on to t6e estent peemitted b~ sppliesble fsw. ~i3~K ~~J f1.~~~~ ; . ~ ~ ~ f ~ . ~ . ~ ~ - .