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Home My WebLink About1904 ~ ~ . • ~ ' ' ~ t . , ' w • , ~ ' ~ . • • ' j ~~.11{C ' ~ i the leasee is adjudged ineolvenY, or If the lessee makes any a,s~ignment for the benefit of hig cred.itora, or ~ if a writ of attachmeut ~r executlon te levied on any it.~au or items of the equipment and is not reteased ~ o~ sat3sfied wikhin ten (10) days thei~after~ or if a receiver is appointed in any procecd:ng ox action to i which the lessee is a pai-ty with aut~ority to tnke possession or control of any item or items of the equip- } ment, lessar shall have and may exercise any one or more of the remedles set forth in paragraph 14 hereof ; and this lease shall, at the optlon of lessor~ without notice~ immediately ternainate and shall not be t~ated - as an asset of lessee ~fter the exercisa of said option. Lessea v~aives all right under all exemption lawe. 16. I.ea.gor's ~rpenses: Lessee shall pay lessor all costs a.nd expenses, including attorney's fees, incurred by lessor in exercising any of its rights or remesiies hereunder or enforcing any of the terma, conditions or provisions hereof. 17. A$s,ipnwent: Without the prior written consent of leasor, lessee ahall not (a) ~ assign, tranafer~ pledge or hypQthccste khis lease, the equipr.nent or any par't thereof; ~ or any interest therein or (b) aublet or l~nd the equipment or any part thereof or permit the equipment or any part thereof _to be used by anyone ' other tban lessee or lessee's employee~. Consent to any of the foregoing prohibited acts apglies only in the ~iven instance; and is not a consent to any s~b~~quent like act by lessee or aqy othef~ persan. Subject _ , always to be the foregoing~ this leas~ inure~ to tbe benefit of, and ia binding upon, the heirs, legatees ~ personal representatives, successors arid assigns of ~he parties hereto. Should lessor on receipt of written ~ request from tessee agree to transfer or a.SSi~n lease to third party, l~ssee agree$ to pay leseor its expense - ( in handli.ng such transfer or assignment. This amount not to be le8s thsn fifteen dollars ($15.00). 18. L~es.4or's Assignment: It is under~tood that lessor contemplates assigning this lease and/or ~ortgaging of ~ the e.-~uipment, and that assignee may as~ign the same: A.ll rights of lessor in the equipment and here- under niay be assigned; pledged, mortgaged, transferr+ed, or otherwise di$posed of, either in whole or in ~ part~ without notice to lessee. The assignee's rights shall be free fibm all defenses, set-offs or counter- - claims which lessee may be entitled to assert against lessor, No such assignee shall be obligated to per- form any duty, covenant or condition required to be performed by lessor under the termr~ of this lesae. ~ 19. Ownership: 'I'he equipment is, and shall at all times be and remain, the sole and exclusive personpl prop- erty of lessor; and the lessee shall have no right, title or interest thereia or tt~ereto eacept as ~xpressly set ~ forth iu i~his lease. It is further expressly agreed by lessee that the said equipment ahall at all times be _ removable as the per'~onal proper`..y of the lessor and under no circumstances ahall the same be considei~ed r " or treated aa part of the realt}• or real property upon which it is or may hereafter be situat~d. - ~0. Interest: Should lessee fail to pay any part of the rent herein reserved or any other sum requ.ired by . .lessee to be paid to lessor, ~vithin ten (10) days after the due date thereof, lessee s,hall pay unto the lessor f interest on such delinquent payment from the expiration of said te.n {10) days untit paid at the rate of ~ six per cent (6Io) per annum. - ; . ~ ; - _ , 21. ~'otices: Ser~•ice of all notices under this agreement shall be s~afficient if mailed to the party in~~olved at ~ its respec;tive address hereinafter set forth, mailed to such addresa s,hall be effecti•re when deposited in the United States mail, duly addressed a.nd with postage prepaid. - . 22, In cousideration of the mutual covenants contained herei.n„le~e,~ ~y$reb~?ig~.ted the option to obta.in a- - nev~ one-year lease at the annual rental of ~_~9htY ar~d-n0/1~4'~~M~~~~w~~M~~~o~• ~Dollars) ~ - ($~Q4___~), Said optio:i n~ay be exercised by lessee by ~vritten notice to that effect to lessor, which notice shall be aeeompanied by payment of ~the sntire: annual rental abore 3escribed, and which _ shall be delivered to lessor, not less than ninety (80) days before the expirat~ion of the term hereof, to- ~ gether ~vith the sum required for taxes as specified in Paragraph 10 herein above. Said new one (3} year term, any succeeding one .(1) year terffi, shall caxry an identical option hereto, and except or the amount . - of r~ntal, each new lease shaal be subject to provisions and conditions identical with those of this lease. s The renfia.i payable for each new Iease shall be that sl~ecifieti in Paragraph 22 as payable for the fust z~ew ~ l~ease. N~±withstan3ing anything ptbvided in tbis garagraph, in no event shall iessee aption to obtair~ more therL-_ f i Ve ~ 5) succesaive new leases hereunder. - 23. Gender: Nuniber: ~'V~ienever the context of this lease requires~ the masculine gender iachic~es the femi.n~ne or neuter, and the singular number includes #he plural; and whenever the R•ord "lessor" is used berein it - shall include all assign~es of lessor. If th~re is more than one lessee named in this lease, the liability of each shall be joint and several. : . - £ ' 1 ' Time i~i the E~sence: Time ia expresaly dec:larEd to be of the essence of this lease and of each clause ~ _ ~ . ~ - -i; ~ , - ~ se~x~4~ P~cE~9~Z ~ - : _ - : ~ - ~