|
<br />.
<br />
<br />10.rNOEMNfTY. Wearenotre,pon!iI:Ileforany~riell.damagM,penaltiu. claimsori033es, includingiegalexpenses,incurredbyyouo.rsnyolherpsl3Oncausedbylhe\r;ll15porlafion,insIaJlation,manufacture,$l!ledion,pu
<br />rohase,lease,
<br />ovmer.ohip.poss~.modification,mainlen.nce,condition.operaticn,UI!e,retumordlSposilionoflheEqulpmenl TOlhoexlllnlpemUttedbylaw,youagreeloreimbumusforanddefendusagalnstanyclaimsfcrsuehJo=es,dall\ageS,p
<br />enalties,
<br />clairru. injUlies, orupensell_ This indemnity continues eye;n al'!erlhis Lease has expired tOf aclsoromill,iollil which occurred during !he Lease T efTlI.
<br />11./DEJmACATION. YDIlsuthorizeusloinserlorcorreclmissinginfonnaDonOlllhillLlllUe, incJudingyourollicialname.seriaJnwnber:lsndanyo!herlnformationdesaibingthe Equipmenl Wawillsend youoopiesofsUGhehange
<br />s. You
<br />wl1la\tadllo lba Equipment iny name p/a!e:l oralicken we providllYOu.
<br />12.LOSSOR DJ.MAGE. YOUiIlll responsibleforanylrmof!he Equipmenlfromanycau5&atall, whelherornotinsured, fromlhlltime lheEquipmentjuhippedtoyou tI/Iul ijisretumedlo liS.1f any ilemofEquipm8J'ltislollt,
<br />siIlll!llordiimaged,
<br />you wiD promp!ynatifyU3of suchewnl Then, atour op6on, you \WI either (a) repaiflhe EquipmentsothaHtb m good condition and working oo::Ier, eligibiaforanymlJlufBcbJrerSC$rtifica6on, crib)
<br /> payusan amount equallo the NetBook Value/as
<br />demedinSedion 15}oflhebst,sloJencrdamagedEquipmenllfycuhavesatisfiedycurobligationsunderlhlsSetliont2,wawiUfolWardlDyouilllyinsul'ilncepl'OGeedswhidlwer~ivelorlost,damaged,orde!llroYedEquipml!lll
<br /> lfyouareindefaun,
<br />wewillapplyanyil\!Ul'ilnceproceedswereceillelo/l!ldl!eeYOlR"obligationsunderSeclion15otlhisLeue.
<br />t3.It,lSIJRANCE. Youag~to(a}keeplheEquipmentfullymsuredagainatlo",namingusuIOllspayee, am:l(b)oblainagenal'illpubtioUabi1ilyinsurancepolicycoveringbolhpel'$OllalinjuryarxlpropertydamageinamounbnoUes!
<br />than
<br />wemayleUycu. naming usasaddilicnalinsured,untilyoohavemetaUofycurobJigaliol\! under!hl$leasa. WeareundernodUlylolellyouifyourillSUranC$coverageisadequalll. Thepo/lciesshaJIslalethatwe~lobellClifiedof
<br />anypropo.sed
<br />cancellation atleasl15dayspl'iorlolhedalesellcrcancellaticn. Uponourreque:Jl,youagnletoprovideuswithee rtific:atesorothertMdenceofinsuranceaceeplablelous.lfyoudonotprovideuswitheviclenceotproperinsur
<br />ancewilhinlOdaysof
<br />ourrequeslOl"we reeeive notice of poley eanceUallon, we may{bulwe are notobUgated 10) obtain il\!ul'ilnce on our interest in the Equlpmenl alyourexpense. Youwill pay an insurance premiums
<br /> and related chill'!J8'.
<br />14.DEFAUlT. YCtlwilbeindafaultunderlhisleaseffanycflhefollowinghappens: /a)wedonolreceiveanyRenlorolherpaymenldueunderthisLeauwithin 10daysafteribduedale,or(b)ycufal1lopetlormorobservnnyolherprombe
<br />orcbllgatiOllinlhisl.ea$eanddollCtCOlJeClthedelilultwithm 10daysalterwenndycuwriHannollceofdefauR,or{e)anyrepresenlation,warranlyonlalemen!youhavemadeinthill Leaseehallpmvelllhaveheenfalseormi!l!elld
<br />Inginanyma!edal
<br />respect,or(d)anyin~ncecarrierc:anceJscrthreatenslocancelanyinsulilnceonlheEquipment,or(e)lhaEquipmentoranyparlofitisabused,iIIagal!yused,misused,lolIt,deslroyed,ordamagadbeycndrepair.or{f}ap8IIIionis
<br />filedbyoragainsl
<br />youunderanybanWplcyorinsolvencylaws,or(g)youdefaullonanyolherllgreemenlbe\w&enycuamlus(orouraffiliates). ..-
<br />i5.REMEDIES. Uponlheoceurrenee ofa default, we may, in QJJreoledisctelicn, dcany orall oflhe following: (a) providewrillen notice to you of default; (b) as rlllllidated damaguforlcm
<br /> of a bargain alld nctas a penalty. declare due ami
<br />pa)'llble,thep=ntvalueofO)anyandaJlamoYllbwhichmaybelhendueandpayablebyyoulllusundetthisleiJse,plus~Q allRentpaymenbremainInglhroughlheendoflhelease Term,plus{iii}ourreasonabJeastimaleotlhefaifmarket
<br />value
<br />oflikeequipmentasoflheendoflheLease Term.diseounledatlhahighercf6%orlMlcwestraleallcwtdbylaw{coIlee1ively,lhe"NelBookValue1- WehavetherighllorequintyoolomakelheEquipmentavailabletousfor~icnduringRllS
<br />onable
<br />businessOOuIllClfwsmllyrepossesstheEqliipmllflt,eolongaswadonotbreachlhepeaceindoingso,crwa mayuselegal proeessincompliancewithapplicablelawpursuanllooaurlorrferlohavelhe Equipmen!repouessed.
<br /> You will not make
<br />anydaimsagainstusorlhe Eqdpmentfllf!respase, damageoranyotherreason.lfwe take pcssessionofthe Equipmentwll rnay{a)selIorleasethe Equipmen!alptlbicorprivaleaaJeorlease,andlor(b) exereisesutholherright
<br />us may be allowed
<br />byapplIcablelaw. AIlhcugh you agreethatwehavenoobJigation Iosellthe Equipment, ffwedo sail the Eijuipment, wewill mdlJCe the NelBookValue bylhe amounls wereceive. You wDlimmedialelypay
<br /> ue!heremaining NeIBcokValue. You agree
<br />(aj lllaI we onlyneed logive you 10dayudvance nclice of any sale and no notice of &:lvertiaing, (b) to pay all oflhe coelswe ifIcurtoenfon:eourrighls againslyou, including aIlomey'e
<br /> fees, and (e) !halwe Wlllrelain an ofourrighis againslyou even
<br />ifwedonolehc:1o$etoenfm:elhemallhelimeofYOlll"delilul
<br />16. 'fOUR OPTlOHSAT END OF lEASE. Pmvided you &renct in default,upon~piration oflhe lease T ann you ilIlall have the opIiCIIlo{a)relum the Equipment.., acc:crdaneewilh Sec:llon 17, or(b)
<br /> 01160 days advaneewrilten nolieelo us,
<br />purchaeeall but nelless!han allofilM Equipmenllor!hefairmarkelvalue otthe Equipment, as delermI~by us inour reaeonablejudgment(plusany appficabletuesj.lfyou decllo purr;twelheEquipment.
<br /> upon paymentofthe agnled upon price
<br />includIng:afl$8le5lmesanrJolherappieablelaxes, weY.;IUl'lInsfer the EquipmenllDyou ASI5-WHEREIS, WlTHOlIT AHYREPRESENTATlOt,l OR WARRANTY. lfyoufatllo axHdaelhepuren.a,optlon {aJ )'Ouwi!lconlinualo
<br /> pay Rentlll1l11 tha
<br />Equipmanti.r-=lIiYtcI andaccepladby ua purauanttoSectioe 17, and (b) alloflhahrm,ofth'le....hall.:ontinuatoapply, incJ.uding)'Ourobllptionto payR.nt.
<br />17 .RETURN OF EQUIPMENT. If (a) adefaultocan, (b)youdo not purchase the Equipment allhe end cflhe leMa Tenn, or(e) a non-appropria6en offunds OCl;Lninacccrdance with Section 4. you will
<br /> immediately rebJm Ille Equipment
<br />Ioanylocation(s )ardaboan:lanycarriaf$)wemaydesignatein lllecontinentalUnIledstales. TheEquipmenlmuslbe properly packedforshipmen!inaa:onlaneewilhlllemanulaclurer'ereaumnendalicnsorspecffications,
<br /> freight,npaidand insured,
<br />mainlainedinaccordancewithSedion8.and in "AverageSaleableCooofrticn: 'Awtilge Saleable Condition' means thatalloflhe Equipmenti!llmmadIalelyilVa~abIl1foru:sebyathird partybu}'er, u.serorlessee,
<br /> ctherihan yourself, wiIhollitheneed
<br />fcranyrl!paircr~enl AIlEquipmentmuslbefreeofmamngs. YouWlllpayusforanymisemg ordelective partsoraeeessories. YouwitlcontlnuatopayR,nlunlllthaEquipmantia Alceivadand acceptedbyu..
<br />111. YOURREPRESENTA TlONS. You hereby repmsenlandwarranllousltlalasofthedaleoflf1ieLease,and!tlroughoultheLease T erm:(a))'OU aretheen1ilymdlealedinthieLease; (b)youaredulylJl9llniudandellistingunder
<br />lhe Constitulicn
<br />andlawsoft.eSlaleinwhichyouarelocated;(c)youarealllhorizedloenlerinloandcanyoutyourgbligationsunderlhi!lleaae,anydocurnenbrelativelotheacquisffionotlheEquipmentandanyolherdocumenlsrequirlldlobedeUver
<br />ecfinconnection
<br />wi!hlhislnse(ccllectiveJy,tI1e"Documenbl;(d}IheOocwnenbhavebeendulyauthcrized,~eeutedanddeliveredbyyoulnacccrd8l1Cllwilhallapj{108b11l1aws.ruies,oo::Iinances,andregulatiCRil. TheDocumenl3antvaUd,!e9a
<br />I,bindingagreernenb,
<br />enforceablail'lao:crdaneewilhtheirlemu.Theperscn(sjaigninglheDocumanlshavetheauthori!ylodoso,areaclingwithlhafullauthorimlianotyourgcvemingbcdy,andholdtheof!i~indicetedbelowtheirsignabJres,eachcfwliC
<br />haregenuine;
<br />(e) the Equipmemis essentiallo!heimmedIalaperfomlance ota l/C'ilImmenlalorprcprielarylunclionbyyouwithinllloscopeofyouaulhcritylirld shaflbe used during the lease Tannonly loperform
<br /> suchfunction; {1}youinlend 10 llS& the Equipmant
<br />forthe enlin=lease T arm and ahalllalce all necessary ldicn 10 ndude in yourannual budgetany funds required IofulfjJJ yourobligalions foreach fiscal }'eIIrdlJring lf1e lealie T arm;
<br /> (g) you have compfled funywith all applicable law governing open
<br />meeIings,publIcbiddingandapprcpriaticnsreqtiredinconnecliollwilhlhis Leaseandlheacqtisilionollf1eEquipmenl; (h) yourcbfigationslon=m~Renlundcflhis Leaeconslitutea currentexpenseandnotadebtunderapplic
<br />ablaelalelaw. Noprwisicn
<br />oflhisl.easec:ons6~apledgeofyourlaxorganeratrevenues,and anyprovisionwhich iseoconshuedbyacowtcfcompelenljurisdiclicnisvoidfromlheincep6onofthis lease:Q)a1lpaymenbdueandlllbecomeooeduringycurc:urrenl
<br />liscal
<br />yeararewilhinlhefiscalbudgelofsuchyear-,andareincludedWllhinanUJ'lreelrictedandunen<:lJmberedapproprialionCl.W'RlnHyavallablelorlheleaseJpurdiasecflf1eEqllipmenl;and{j)aUlinanclalinlcrmationyouhavepr
<br />nvidedlousislrueandaccurate
<br />andprovidaagcodreP'"l!llbi6onofyourlinaneialtoncli6cn.
<br />19. YOUR PROMISES. lnadditlm III the oIherprovillions of this lease, you agree lf1atduring!he term cflhis leaae (a)youwiJl prompttyootifyus inwritngifycumove yourprincipalalliee or you
<br /> changeyo...name orlegal struclure. (b) you
<br />wi! providelD ussuch financ:ialinlcnnalicn as wemayreasonablyrequestirllm line 10 time, and (c) youwill lake any adioo we reasonablyrequesllo protect ourrighls in the Equipmentand III
<br /> meet your obligations underlhis lease.
<br />2O.ASs:IGNIIENT. YOUWlLlNOTSEU, TRANSFER,ASSIGN, PLEDGE-SUB.lEASE ORPARTWITH POSSESSION OFTHEEQUIPMENT, ORFllEOR PERMIT AUENTOBE F1LEDAGAINSTTHEEQUIPMENT. Youwillnclaltach
<br />anyofIheEquipmenlloanyrealastale.Upcnourrea:sonablerequestandal)'Olll"ccSl.youwillcblainfromeacf1p~nhavingll'linterestintherealesllllewheretheEijuipmentislocaledawaiverotanyrigl1lsthay~ilaveintheEqui
<br />prnenlYou
<br />IIIldemandaoo agreelhalinmediatelyuponacceplanceoflha Equipmenl($lIeSeclion 2) we wi! seN, assignandtraMfer"this Lease andourinWesbin the EquiprnetrttoGeneral Electric Capital Corpor:alian
<br /> rGE CIpita/1 (E.I.N. 131500700), You
<br />agreeloremitlt> GECapital, allheadd~prOvidedbyGECapital.lromtimelolima,a/lRentpa)'lJll!lllsandolherllmolll1ledueandlllbecomedueunderlhislllase. YcuagreelllalGECapitalWlllhavetheSllmeillhbandbenelibth
<br />atwellCwhilve.
<br />YcuJgreeIhaI13ECapilars~h13undetlhis leasestv.'lnotbeeubjectloanyclainu.defensesorset-otfslhatyoomayhaveaglinstll!l. However,anysuchassignment,saJe,ortransfetofltUsLcaseorthe Equipmenlwlll
<br /> notrerlllveusotanycbigalions
<br />we may havefc you underlhis leae. If you amgiven notice cAa new llWI'lllrofthis lease, youagree IotespDnd to any requesb abouIlhis lease and, ihflleCtedby us, 10 pay the new owner all
<br /> Rent and oIhcramolllls due unclerlhis lean.
<br />21.COUECnONEXPENSES,OVERDUEPAYMENT, TERMINATION. Youag~lhalwecan, butdonclhavelo, IateCllyourbehalf~adiOllwhichyoufaIllolalceasrequin=dbythieLease,andourexpemeswilbeinadditicnloofthe
<br />Renlwhichycuowell!l. Wemaychargeyoua IatedlargetoCQYerourcollectigncmb equallothehigherofl0%olanylatepaymenlor$22,butnotmc/l!llhan thehighesUegalraJe. To the eJfllntalowedbyllW,loylalepaymentcrn~1
<br />of any pasldueamcunlwill accnJe inlerestalthll lowerof18% pcrannlll1 crlhe highest legal ratefrcm lhedue dale until paid. If you so Feqlle!lland \WtI permiltheearly lefminaticn of this
<br /> Lease (forreasons otherlhan a norHlppropria6en pursuant
<br />IoSedicn4).YOU&.greelopayafeelcfsuchprivilege.
<br />22. COUPI.IAHCE WITH LAws. You unders!and thaltha Equipmentmaybe purchased fotcash (!he "EquipmenICcat") oril maybelaased. Bysignlng this lease, you acknowledge lhatyou hlIve chosen
<br /> 10 lease tha EquipmeJitfrcm us for
<br />IheLeaseTennandlhalyoohaveagreedlopayRanl
<br />23..MISCElLANEOUS, ThisLeaeconlUlsourentireagreementandsuper3l!desanyconfrlcling provision ofanyequipmenlpurchneordaroranyolheragreemenl TlMEIS OFTHE ESSENCEINTHlS lEASE. Ita courtfindsanyprovisian
<br />ofthie lease IobelBlmforeeable,lheremainInlllermsofthisleaseshall remllln inelfecl. THIS LEASE ISA "FINANCE LEMEN AS DEFINED INARTIClE2A OFTHEU'NIFORU COMMERCIAL CODE. Youaulhorizeus
<br /> (orouragenl}to{a) obtain
<br />cradilreports, (b)lIIiIke sudl otheraedltinquiriee 8lI we maydeem necessary, and (e) furnish payment history inlormaUcnlocreditreporting agencies. To the exlenlpennitted by law, we may
<br /> charge youa fee ofS43.251o coverourdoetanenlaticn
<br />ancfinvesligatiancoeb.
<br />U.NOTICES. AUofyour~nnolicestousmustbesentbycertiliedmaiorrecognizedovemigl1tdelive'YSllrvice,poslageprepaid, lousatouraddreeslaledinlhisLease,orbyfacsimilefransrnbsiCIIlclourfacsimileleJephonenumber
<br />,
<br />willi lII3Iconlinnatiooofreceipt AIIcfourllClicesloyoumaybe~t/irs.tclassmaU,poslageprelllV.d, Ioycurtclliress slaledinlhislease. AtanylimealterlhislellSeissigned,ycuorwemaychangeanaddressorfacsimnele
<br />lephcnenumberby
<br />givingnolicelclheolherofthechangc.
<br />25.WANERS. WEANDYOU EACHAGREETOWAlYEAND TO TAKEAlLREQUIRED STEPS TO WANE ALlRtGHTS TOAJlJRYTRIAL To the exlen!YOU8repennilledbyapplicabl!llaw, you waive all righl3am1 /l!lmediesamfened
<br />uponaieseeebyArlicla'2A(Seclicnss0s.522) oflMUnilcm1(:(Jnvneroial Codeincludingbutncllimitedloyourrighb 10: (a) c:ancelcrrepudIalelhIs Lease; (b)~ecIorn:tYCkeacceplanceoflheEquipment;((';)recoverdama
<br />g~fmm usfDranybraach
<br />orw.r.1lllyorfannyclher/l!l3SOn; and (d) granlaaecurityinfaresiin anyEquipmenlin yourpossessicn. follle ex!entyoua..permitted byapplicablalaw, ycuwaive any righb younoworfalermayhiMtllrnlet"anyelabrl
<br />eor oIhelWisllwhidl requil'$
<br />lISloeellorolherwieuseanyEqlipmentloreduceourdamages, wIIichreqllim lIS toprovide youwilhnolice ofdefaull, in!en!loaccderateamcunts bec:omingdueoracceleraliOJlofamcunb becorningdue,
<br /> orwhidl mayolhetWiselinilormodIfyany
<br />ofourrighborremades. AJ<< ACTlONYOUTAKEAGAlNSTUSFORANY DEFAI1l T, INCLUDING BREACH OFWARRANTYORINDEMNITY, MUST BESTAATEDWlTHIN ONE (1) YEARAFTERTHE EVENTWHICH CAUSED IT. We.....;1 net
<br />beliablefDrspecilicperformaneeoflhisleasllorbranymses,damages,delayorfailurlllodeliverEquipmenl
<br />
<br />IMPORTANT: READ BEFORE SIGHING. THE TEW OFTHlS LEASE (INCLUDING THOSE ON THE REVERSE SIDE) SHOULD BE ReAD CAREFULLY BECAUSE ONLY THOSETERMS IN WRmt,lG ARE ENFORCEABle. TERMS
<br />ORORAlPROMISESWHlCHARENOT CONTAINED IN THlSWRITTENAGREEMENT MAY NOTBE LEGAl.LY ENFORCED. YOU M4V CHANGETHETERMS OFTHlSlEASE ONlY BY AHOTHERWRITTEN AGREEMENTBETWEEH
<br />YOU AND Us.. YOU AGREE TO COMPlYWfTH THE TERMS AND CONDmONS OFTHIS LEASE. YOU AGREE THATTHE EQUIPMENTWU BE USED FOR BUSINESS PURPOSES ONLY AND NOT FOR PERSONAl, FAMilY OR
<br />HOllS&IOLD PURPOSES. . .
<br />
<br />YOU CERTJFYTHAT ALL THE INFORMATlONGIVENINTHIS LEASEAND YOURAPPUCATlONWAS CORRECT ANDCOMPlETEWHEN THIS lEASEWAS SIGNED, THIS LEASE IS NOT BINDING UPONUS OR EFFECTIVE UNLESS
<br />AND UNTIL WE EXECUTETHlS lEASE. THIS LEASEWllJ.SE GOVERNED BYTHE LAWS OFTHESTATE OFIOWA. YOU AGREETO THEJURtSDICTlON AND VENUE OF FEDERAL AND STATE COURTS IN UNN COUNTY,IOWA.
<br />ACCEPTED BY' PROPOSED BY, 5 I GNATURE PAGE ATTACHED.
<br />
<br />LESSOR: DANKA OFFICE IMAGJNG COMPANY d~ OANKA FINANCIAL SERVICES
<br />
<br />LESSEE:
<br />
<br />EN,
<br />
<br />BY: ll"
<br />
<br />TITl2
<br />
<br />DAlC
<br />
<br />DATE:
<br />
<br />FED TAX IDI:
<br />
<br />OPINION OF COUNSel
<br />1h&veac:!edueouns:ellDlhe~lessee(!lJe1.essllejwilh~iDleaseAgreemenlNo. byltll:lbelweenlheLesseearxlLaacrjltle1.easei,andin.lhiscapacilyhavereviewedlhe~nalorduplicelecliginals ~
<br />of1hel.easeaJdsucholherdoaJrnentsas Ihmldeemedr*vari. Based lIpOIllhekfegoing, lamoflhecpjnicnlhat{A) l.esSeeisulaleQ'"afuUyconslitutedpcfilicalSlbiivisionoragen&yofaelatewieUnlhemeaning
<br /> ctSeclion103oflhelnlemaJ -
<br />ReIIenue CoO!Jaf198G.aarTl!nded; (B) the exec:ulicn,deOveryanrJ perfoananee rAlbe Lease by Lessee bavebeeo dulyaulhcrized by all necessary action on 1M par\:ofLeulle; (C)lhe lease eonsIiIub!:s
<br /> sIegal, valid and binding oNl9ltign of ~
<br />lesseee!lbt:eabeina::cordancewilhiblerms.~oeptas~bYliIWSofgeneralappficalionl!flldinglbeenfi:fcetnen!afcreditcr3'righb,anddoesnolccnslilWadeblafleaseewhichispo/lililedbyslabllaw;(D)lhelllllt1orimion.
<br />approvaI ~
<br />n.execWondlhel.easeandallclberproceedngsaflesseereialedlclhefran:saclionscontemplatmlherebyhavebeenperfcrmedinac>::cldancewilhallopen-meeling_,publicbidding~, iIIldaIJclbllrlpp6c:ableslalelawe.
<br /> ~
<br />1hetnlelSgnedeertilieafllat(s;tleisj,atlomeychjyaulhorizediDpacIic&lawinIheSlaleof ThelcngcingopinionsareliniledlolhellrwsofsudlStateandfederlflawsoflheUnitl!dSIaIea.
<br />
<br />Alh:fneyofl_
<br />
|