Laserfiche WebLink
<br />Page 6 <br /> <br />less the total amount of all rento which repreoented equity in the equipment previously <br />paid under thin Agreement, pluo rent due on ouch date, pluo any' other amounto then <br />payable by Lessee hereunder. Upon such payment, the Leaoe Term ohall terminate, any <br />oecurity interact of LeDDer in the Equipment ohall terminate, and Laesae will acquire <br />unencumbered title to the F.quipmcnt aD provided in Section 10. If.LeDoee io not then in <br />default hereunder, any portion of the Net procccdo in exceDD of the amount required to <br />pay in full Leoece1o obligationo aD oct forth in thiD Section ohall be for the account of <br />the LeBBee. LeDoee agreeD that if the Net proceedo arc inoufficient to pay in full <br />Lecoee1s obligationo aD oet forth in thin Section, Leaoee ohall make ouch payments to the <br />extent of any deficiency. <br /> <br />9. WARRANTY. ProductD and parto manufactured by TYMCO, INC., and all oerviceo performed <br />by TYMCO, INC., arc Dubject to the applicable Warranty currently publiohed by TYMCO, <br />INC., which Warranty io, by thio reference, incorporated herein. CopieD of oaid <br />Warranty may be obtained from any office of TYMCO, INC., or from any authorized TYMCO <br />dealer. LESSOR MAKES NO OTHER WnRRANTY EXPRESS OR IMPLIED REGnROING THE CnpnCITY OF THE <br />REQUIREMENT OR THnT THE EQUIPMENT WILL SnTISFY TIlE REQUIREMENTS OF nNY LnW, REGULnTION OR <br />SPECIFIcnTION OR TlInT TilE EQUIPMENT WILT. DE FIT Fon nNY pnRTICULnR PURPOSE. <br /> <br />10. PURCHASE OF EQUIPMENT DY LESSEE. The Lcosec will have an option to purchase and can <br />cxerciBe that option to acquire title free and clear of all lieno, and thin Agreement <br />will terminate provided Lecoce io not then in default upon the occurrence of either of <br />the following events: (al the end of the Full Lease Term, upon payment in full of all <br />rent and other amounts payable by Leo see hcreunder for the Full Lease Term; or (b) at the <br />end of the Original Term or any Renewal Term, or any month within Bueh Original Term or <br />any Renewal Term, aD Get forth in the column entitled "Principal Balance" within Exhibit <br />C incorporated herein by thio reference, upon payment by Lecoce of the then applicable <br />Purchase Price plUG all other numo then due by Lessee hereunder. <br /> <br />11. ASSIGNMENT: INDEMNIFICnTION. (a) nooignment. This ngreement and the interest of <br />Lessee in the Equipment may not be sold, asoigned, oublet or encumbered by Lessee without <br />prior written conoent of LeoDor. Thie A9rccment, and the obligations of Leaoee to pay <br />rent hereunder, may be aooigncd and reaonigned in whole or in part to one or more' <br />aosigneca by LeGGor subject to their terms of thiG LeaGe/Purchase Agreement at any time <br />without the neceooity of obtaining the con!:icnt of Lc::;sec. Le!J!Jor agreeD to give notice <br />of aaoignmcnt to LeDoce and upon receipt of ouch notice, Leooco agrees to make all <br />payments to the aaoignee deoignatcd in the aooignment, notwithotanding any claim, defenoe <br />or setoff (whether arioing from a breach of the Agreement or otherwise) that LCDBee may <br />have againDt Leo80r'o aooigneeo. Leeoee agreeD to execute all documento, including <br />noticeD of aooignmcnt and chattel mortgageo or financing otatemento which may reaeonably <br />be requcotcd by Leasor or ita aoaigneeo to protect their intcreota in the Equipment and <br />in thio Agreement. <br /> <br />(b) Lessee agrees to indcmnify and hold harmless Lessor for any damage or <br />injury of any kind, aricing out of the negligence or actionable conduct of Lasace, ita <br />employees, agento, repreaentativc8 or contractoro, or any per Don or entity alleged to be <br />an employee, agent, repreoentative or contractor of LCGoee. <br /> <br />12. EVENTS OF DEFnULT nND REMEDIES. (a) Events of Default. The following shall be <br />Ilevento of defaultll under thin agreement and the term "defaultU ohall mean anyone or <br />more of the following events: (1) failure by Leooee to pay any rent or other payment <br />required to be paid hereunder at the time specified herein; or (2) failure by Lessee to <br />oboerve and perform any other agreement on ita part to be observed in ouch time prior to <br />ita expiration; (3) any otatement contained herein or furniohcd with respect hereto by or <br />on behalf of Lea ace proving to have been faloe in any material reopect at the time that <br />it wao made; or (4) the filing by Lcaoec of any petition or anowcr oecking <br />