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Home My WebLink About1903 , t t . ~ ' . . . 4 . ~ ~ ' } ' ' ~ ; 1~:1R: -2- 's R. event of loss or daninge of any kind whntsver to any item of equlpment, lossee at the opt3on of lea~ar ~ shall: (a) }~lace the s~me in gooci repair~ condition and working order; or (b) replace the qame with like equipment in gn::d repair, condition and ~vorkiug ord~r. I,essee fiirther a~r~es to maintain fire insurAnce with exkended co~•~rake provisiona to~ the full insurable value of the equipment d~uing the term of thi:~ leuse or ~ny Qxtension hereaf. Said insurance shall be writteri in a Company sati~factory to lessor, said Comnan;? to be iicensed in State in ~hieh equipment is located~ and the lessor shall be ther~in named as . thQ loss paye,~e. The policv of insuranca shall be at the sole cost and expense of les.~ee; it shaU be deposlted , with the lessor durin~ the term of this lease and eh$ll contain ~t endorsement that the insurance cover- age shall not be cancelled without 30 daye prior notlce to lessor. f t _ 9. Surrender; Upon the expiration or earlier term.ination of thia lease, lessee ahall return to leseor tho equ[p- ment in good repair~ conditlan or working or~ler. ordinary wear an~l tear resulting from praper use tbereof alone eace~~ted, by delivering it, packed and resdy for $hipment, to auch place or carrier as le~or may epecify within the city or county designatecl in paragrapu 3 above. ~ ~ { 10. '*`aaea: I,e.ssee shall keep the equtpment free ~nd elear of all levies~ llens and encumbrances and shall pay ~ all licemse fees, registration feeq~ assessnisnts, cinarges and taxes (biunicipal, State and Federal) includ- 3 ~ ing but not limited to ad valorem tazes, which may now or~herea.fter be iinposed upon the ownership. ~ leasing, renting, sale, passession or use of equipment. Under na cir~umstances is the lessor ~~esponsible f~~r - . the ~ayment of Personal Pibpert~? Taxes, The lessee_ agr~es to report the ~quipment covered by the Lesse~ . where requii~ed, to all ta,xing agencie~ and ia to make paytnent of all taxes direct to the prope'r agericv. - Failure to do so will void any options or contengencies and will be cause for any one or separate actions as outlined in paragraph 14 titled DEFAULT. ~ 11. Installatton: Lessee chnll pay all costs of installation, iricluding drayage from nearest tran~portation . tern~inal, unless otherwise specifically set for+h in writiug and signed by bo~h les~ee's and lessor's repi~e- sentative at time lessee signs lease. Such an agreement to be attached to and become a part of this agree- ment. Under na circiunstances does les.sar agree to pay the coat of electrieal wiring or plumbing in con- _ nection with the installation of the equipment covered by thi~ agreemen~ _ ~ 12. ~Vurrnnties: Lessee ~cknowledges that lessor has made no representations and tbat thc~~e are no warran- ~ ties, .either expressed or ~implied~ except v~ritten warranties pmvided by lessor, ss to any matter whatso- ever including, but not limited to, the coLdition of the equipment. its merchantability or fitness for any ; particul~.r purpose. _ . ~ f 13. Indem~itf: Lessee shall indemnify lessor against, and hold lessor harmless from any and sll cZaims, actions, suits, proceedings, costs, expenqes, aamagea and liabilities, includi.ng atto:ney's fces, arising out : of, connected with or resulting from the equipment, including without linutation t~e manufacture, eelec- i - tion, delivery, possLssiou, use, operation, or return of the equipmenk . i - . ~ - ~ - I 14. Default: If lessee with regarcl to any item or items of equipment faiLs tu pay a.ny rent ~or other amount ~ herein pro~~ided arithin ten (10) days after the sarae is due and payable, or if le~see with regard to any ~ - _ item or items of eqtupment fails tc observe, keep or perform any other provision of this lease required _ ~ to be observed, kept ar p~rformed by lessee, lessor ahall have the rAght to exerci~e any one or more of the following rem~dies: _ . • ~ . - - (a) To deelare the eutire amount of rent hereunder immediately due and payable as to any or all itema of equi~ment, without natice or demand to lessee. (b) To sue for and re,.over all rents, and other payments, then accrued or thereafter accruing, with re- ~ : sgect to anv or all items of equipment. _ - ~ { _ (c) To take pussession of any or all items of equipment ~vithout demand or notice~ wherever sr~me may ; , be locate~i, ~vithuut any. court order or other process of la~v. Lessee hereby waives any and all dam- - ages occasioned by such taking of posses.sion. Any said taking of possessi~n sh~ll not constitute a termination of this lease as to any or alI items of equipment unless lessor expressly so notifies les.see in- writing. _ ~ (d) To ternunate thas lease as to any or all items of equipmeat. ~ ~ s (e) To pursue any other remedy at law or in equity. - _ t ~ Notwitt~standing a.n~• ~aid repossession, or any other action which lessor may ta.ke lessee ahall be and remain liable for the ft~ll performance of alI obligations on the part of lessee to be per~ormed under this ~ : 1°~• _ _ i _ All such remedies ai~e cumulati~se, any may be exercised concurrently or separately. Waiver of any default ~ ; shall not waive any other default. ~ - ~ - - . ~ ~ 15. Sa.nim~ptcy: i3either this lease nor any interest t.~erein is assignable or transferable by operation of law. ~ ' If any proceedicti +:nder tne Bankruptcy Aet, as amended, is commenced by or ~.gainst the lessee, or if + _ _ , ~ F = ~ _ - . ~ ~oo~24U P~ _ . . E1~~. - _ ~ _ r - ~ # #