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Home My WebLink About0525 Page -2- e~~ent of loss or ciamage of fln5~ kind ~vhntever to any,~ ite~n of equipment, lessee at the option of lessor ` shall: (a) place the same in good repair, condition And ~vorking order; or (b) replace the same with like ; equipment in good repair, condition and working orc~er~ Lessee• further agrees to maintain fire insurance ` J _ a._ at,,, r..tt • n1.1.. .,.,1.... f 4{, ~l»>.inrr ~1~o tnrm nf ±~ia ~vith eKtc~ndeu ~VYlii(ij'j(: ~3tV~1JtV(~3 ~v L1(G 1:LLi i[13:tic:t.:a~.s Ft~ai::. vi t~zL ~iii_a=i:at:<e_ z=_== - lease or any extension hereof. 5aid insur~nce shall be ~vritten in a Company satisfactory to lesaor, said Compai~y to be licensed in State in nhich equipment is located, and the lessor shall be therein nAmed as the loss nayee. The policy of insurance shall be at the sole cost and espense of lessee; it ahall be deposited ti~ ith the lessor during the term of this lease and shall contnin an endorsement that the insurance cover- age sh~ll not be cancelled «~ithout 30 dars prior notice to lessor. 9. Surrender: Upon the expiration or earlier termination of this lease, lessee shall return to lessor the equip- ~ ment in good repAir~ condition or working order, ordinary ~~ear Rnd tear resulting from proper use thereof alone excepted, by delivering it, packed ~nd ready for shipment, t0 Si1C~1 place or carriei• us lessor m~~~ i__~~__a~ i• t. n L.---^ specify tvithin ine ei~y OT COllilly uesi~iix~eu iii ~nid~i'nNii ~~wur C. - ~ ~ 10. T~~es: Lessee shalt keep the equipment free ~nd clear of All le~~ies, liens ~nd enct.mbrances and s`hall pa~~ all license fees, registration ~ees, asse~ssments, cliarges and t~~es (~iiinicipal,` Stat~ and Federal) includ- ing but not limited to ad valorem tases, ~rhicli may ~io~v or hereafter be impo~ed upon the onnership, leasing, renting, s~le, possess~on or use of equipment. Lessor shall ha~~e, at its election, the right to pa~• any of said oblig~tions, and in th~t event~ the cost thereof shall be repa~~able •to lessor n~itli the next installment of rent ~nd failure to repay the same shall carry ~~ith it the same consequences, including interest at six per cent (G`~~) per nnnum, ~s failiire to pa~• an installment of i•ent. 11. Installatinn: Lessee' shall pa~ all costs of install~tion, including dra~•age from nearest transportation terminal, unless other~vise specifically set ~orth in ~vriting a~ici sigiied bti• both lessee's and lessor's repre- - sentative at time lessee signs lease. Such an aoreement to be attached to anel become a part of this a~ee- ment. Under no circumstunces does lessor agree to pay the cost of electrical ~riring or plumbing in con- nection w ith the installation of the equipment co~~ered by this agreement. 12. `~Yarranties: Lessee ~ckno~ti•ledges that lessor has made no representAtions anci that there are no warran- ~ ties, either espressed or implied, escept written ~~arranties provided by lessor, ~s to any matter whatsu- { ever including, but not limited to, the condition of the equipment, its merchantabilit~~ or fitness for an~- . particular purpose. • ' ~ ~ 13. Indemnity: Lessee shall indemnifr lessor against, and hold lessor harmless from any and all claims, ~ actions, suits, proceedings, costs, expenses, damages and liabilities, including attorne~~'s fees, arising out ~ . ; of, connected tivith or resulting from the equipment, including without limitation the manufacture, selec- ~ tion, deliver~~, possession, use, operation, or return of the Equipment. ! - . ' : ' ' ~ 1~. Default: If lessee~~v.ith~regard to any item or items;of equipment fails to pay any xent or other amount ~ herein provide8 ~vfthin ten (10) days after the same is due and payable, or if lessee with regard to an~ { item or items of equipment fails to obserre, keep or perform an3~ other provision of this lease required ~ , to be observed, kept or performed by lessee, lessor shall hare the right to exercise any one or more~of the ~ following remedies : " i (a) To declare the entire amount of rent hereunder immediatel~~ due and payable as to an~~ or all items ! of equipment, without notice or demand to lessee. ~ (b) To sue for and recover all rents, and other payments, then accrued or thereafter accruing, «~ith re- ~ spect to any or all items of equipment. ~ (c) To take possession of any or all items of equipment ~vithottt demand or notice, where~~er same ma~~ ! be located, without any court order or other process of la~r. Lessee hereby waives an~~ and all dam- E ages occasioned by such taking o~ posaession. An3• said taking of possession shall not constitute a ; ; termination of this lease as to any or all items of equipment unless lessor expressly so notifies lessee ~ ~ in writing. ! ' (d) To terminate this lease as to any or all items of equipment. ! ~ (e) To pursue any other remedy at law or in equity. ~ ~ : Not~vithstanding anr said repossession, or any other action «•hich lessor may take lessee ahall be and re- ~ mai~i liable for the full performance of all obligations on the part of lessee to be performed tinder this ~ lease. ~ All such remedies are cumulative, any~ may be exercised concurrently or separately~. ~Yai~ er of an~• defattlt ; shall not ~i•ai~ e any other default. j ! ~ i ~ 15. ~ankruptc3 : Neither this lease nor any interest therein is assignable or transferable b3• operation of la~c~. ~ If any proceeding under the Bankruptcy Act, as amended, is commenced br or against the lessee, or if ~ • ~ ~ BO~K ~3~ 5z5 . - ~ ~ ;