07-25-2001 Council Agenda - Laserfiche WebLink

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11. Possession, Alterations, and Location. Lessee shall not, without Lessor's prior written consent, part with possession or control of the Equipment, sell or encumber the Equipment, or assign, sublease, or encumber this Agreement. Lessee shall not make any alterations, additions, or improvements to the Equipment. The Equipment shall be based at the location indicated in the "Location" section above. 12. Indemnify. Lessee hereby agrees to indemnify, hold safe and harmless, from and agrees to defend Lessor against any and all claims, costs, expense, damages and liabilities, arising from or pertaining to the use, possession, maintenance, condition, operation (such indemnity expressly includes any claim arising from strict liability and torts) or transportation or storage, or any damage, loss or destruction of such equipment. The indemnities contained in this paragraph shall survive the terms of this Agreement. 13. Events of Default. Any of the following events shall constitute an "Event of Default ": (a) Lessee shall fail to make the payment of any rentals hereunder when due; (b) Lessee shall breach any agreement or covenant herein; (c) Lessee shall cease to do business as a going concern; (d) the initiation of bankruptcy, reorganization, liquidation, or receivership proceeding by or against Lessee and, if instituted against Lessee, Lessee's consent thereto or the entry of an order for relief in such proceedings; (e) the termination of existence or voluntary or involuntary dissolution of Lessee, or the making of any assignment for the benefit or creditors by Lessee; or (f) Lessee attempts to remove or sell or transfer or encumber or sublet or part with possession or any of the Equipment. 14. Remedies. Upon the occurrence of any Event of Default, and at any time thereafter, Lessor, at its sole option, may (a) declare all unpaid rentals under this Agreement immediately due and payable by Lessee personally, as Liquidated damages for loss or a bargain and not as a penalty; (b) terminate the agreement and demand that Lessee return the Equipment, without prejudice to any other remedies of Lessor hereunder; (c) exercise any right or remedy available to Lessor under the Uniform Commercial Code or any other applicable law; proceed by appropriate actions at law or in equity to enforce performance by Lessee of the covenants and terms of this Agreement and/or to recover damages for the breach thereof; (d) whether or not the agreement has been terminated, take possession of the equipment, without demand or notice, wherever the equipment may be located and without court order or other process of law. Lessee hereby waives any rights of notice and hearing before repossession and waives any and all damages occasioned by such entry or taking of possession. Any taking of possession of the equipment shall not in itself constitute termination of the agreement and shall not, in any event, relieve Lessee of its obligations under the agreement. The remedies herein provided in favor of Lessee shall not be deemed to be exclusive, but shall be cumulative and shall be in addition to all other remedies in Lessor's favor, existing in law, equity or in bankruptcy. The failure of Lessor to exercise the rights granted hereunder shall not constitute a waiver of any further or subsequent event of default. 15. Expenses. Lessee shall be personally liable for all reasonable collection fees, costs, and expenses, including attorney's fees, arising from events of default in the exercise of Lessor's remedies hereunder. PAGE 80