2016-007 - Municipal Lease Agreement with Liberty National Bank for fire truck

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(1) Declare the entire amount of all rent under the Lease (including, by way of illustration and not by way of limitation, installments of rent which would otherwise become due after the Event of Default) and any and all other amounts set forth in any Schedule hereto, if any, remaining to be paid or coming due within the Initial Term of the then - current Renewal Term to be due and payable immediately. (2) Terminate this Lease as to any or all Items of Equipment, whereupon all rights of Lessee to the use of that Equipment shall absolutely cease and terminate, but Lessee shall remain liable for all of Lessee's obligations remaining to be paid or coming due within the Initial Term or the then - current Renewal Term. Any such termination shall occur only by written notice by Lessor to Lessee. Any such termination shall not impair Lessor's right to exercise the other remedies set out herein. (3) Take possession of the Equipment immediately and wherever found, and for this purpose Lessee, to the extent permitted by law, consents to Lessor's entry upon any premises of Lessee without any liability for such entry. (4) Require Lessee, at Lessee's own expense, promptly to assemble any or all of the Equipment and deliver such Equipment to Lessor in accordance with this Lease. (5) Sell the Equipment or any portion or Item thereof, with or without taking possession of it, at public auction or private sale, at such time and upon such terms as Lessor may determine, free and clear of any and all rights of Lessee; provided, however, that in conducting any such sale Lessor shall act in a commercially reasonable manner. (6) Lease the Equipment or any portion or Item thereof, with or without taking possession of it, for such period and rental, to such persons or entities, and upon such other terms and conditions, as Lessor may elect; provided, however, that in conducting any such lease Lessor shall act ina commercially reasonable manner. (7) Recover from Lessee any and all expenses paid or incurred by or on behalf of Lessor in the pursuit and enforcement of Lessor's rights under this Lease, including, without limitation, Lessor's attorney's fees, legal expenses, Lessor's own administrative costs and any other costs incurred in connection with the repossession, holding, repair and subsequent sale, lease or other disposition of the Equipment, or any portion or Item thereof. (8) Proceed by appropriate action to enforce the Lessee's obligations under this Lease and to recover damages for Lessee's breach of this Lease, including, without limitation, any and all losses and damages that Lessor may have suffered or may suffer as a result of the Event of Default, provided that losses and damages for lost rent shall not exceed the amount of rent due for the Initial Term or the then - current Renewal Term in which the Event of Default occurs. (9) Withhold delivery of any Equipment not already delivered to Lessee. (10) Stop delivery to Lessee of any Equipment held by any bailer. (11) Pursue any other remedy at law or inequity. 2D. LESSOR'S EXPENSES. Lessee shall pay Lessor all costs and expenses, including, but not limited to, attorney's fees and court costs, incurred by Lessor in exercising any of its rights or remedies hereunder or enforcing any of the terms, conditions, or provisions hereof.