1988-084-RES WHEREAS, the City Council did at it's regular meeting on January 11, 1988, in Resolution No. 88-001,

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14. RISK OF LOSS; DAMAGE; DESTRUCTION. Lessee assumes all risk of loss of or damage to the Equipment from any cause whatsoever, and no such loss of or damage to the Equipment nor defect therein, nor unfitness or obsole~cence thereof shall relieve Lessee of the obligation to make Lease Payments or.to"petform any other obligation under this Lease. In the event of damage to any item of Equipment, Lessee will immediately place the same in good repair with the proceeds of any insurance recovery applied to the cost of such repair. If Lessor determines that any item of Equipment is lost, stolen, destroyed or damaged beyond repair, Lessee at the option of the Lessor will either: (a) replace the same with like equipment in good repair;or(b) on the next Lease Payment date, pay Lessor: (i) all amounts then owed by Lessee to Lessor under this Lease, including the Lease Payment due on such date; and (ii) an amount equal to the applicable Concluding Payment set forth in Exhibit B. 15. INSURANCE. Lessee will, at its expense, maintain at all times during the Lease Term fire and extended coverage, public liablity and property damage insurance with respect to the Equipment in such amounts, covering such risks, and with such insurers as shall be satisfactory to Lessor or, with Lessor's prior written consent, may self-insure against any or all such risks. In no event will the insurance limits be less the amount of the then applicable Concluding Payment with respect to such Equipment. Each insurance policy will name Lessee as an insured and Lessor or its assigns as an additional insured and loss payee and will contain a clause requiring the insurer to give Lessor at least thirty (30) days prior written notice of any alteration in the terms of such policy or the cancellation thereof. The proceeds of any such policies will be payable to Lessee and Lessor or its assigns as their interests may appear. Upon acceptance of the Equipment and upon each insurance renewal date, Lessee will deliver to Lessor a certificate evidencing such insurance. In the event that Lessee has been permitted to self-insure, Lessee will furnish Lessor with a letter or certificate to such effect. In the event of any loss, damage, injury or accident involving the Equipment, Lessee will promptly provide Lessor with written notice thereof and make available to Lessor all information and documentation relating thereto. 16. INDEMNIFICATION Lessee shall indemnify Lessor to the extent allowed by law against, and hold Lessor harmless from, any and all claims, actions, proceedings, expenses, damages or liabilities, including attorney's fees and court costs, ar1s1ng in connection with the Equipment, including but not limited to its selection, purchase, delivery, possession, use, operation, rejection or return and the recovery of claims under insurance policies thereon. 17. PURCHASE OPTION. Upon thirty (30) days prior written notice from Lessee to Lessor, and provided that there is no Event of Default or an event which with notice or lapse of time, or both, could become an Event of Default then existing, Lessee will have the right to purchase the Equipment on certain Lease Payment dates set forth in the Exhibit B by paying to Lessor, on such a date, the Lease Payment then due together with the Concluding Payment amount set forth opposite such date. Upon satisfation by Lessee of such purchase conditions, Lessor will transfer any and all of its right, title and interest in the Equipment to Lessee as is without warranty expressed or implied, except that Lessor will warrant to Lessee that the Equipment is free and clear of any liens created by Lessor.