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do <br />notice of Lessor's sale. assignment or transfer of all or any pan of Its interest <br />hereunder. Lessee agrees to atlom to and recognize any such purchaser(s), <br />assignee(s), or Iransteres(s) (jointly If more then one) as the Lessor(s) under <br />this Agreement. Upon assignment, Lessor is thereby relieved of any further <br />obligations. Upon written request Lessee agrees to execute and deliver such <br />certificates or other Instruments as may reasonably be requested, including, but <br />not limited to, a separate acknowledgement of assignment and allornment cer- <br />tificate in the customary form as to any purchaser's, assignee's or transferee's <br />right, title and interest in, to and under this Agreement, and with respect to the <br />Properly and the Payments thereafter due and payable pursuant to this Agreement. <br />15. PERSONAL PROPERTY. The properly is and shall at all times be and remain <br />personal property, as described in Paragraph 6 (b). <br />16. LESSOR'S RIGHT TO PERFORM FOR LESSEE. If Lessee fails to make any <br />payment or perform or comply wilh any of its covenants or obligations hereunder, <br />Lessor may, but shall not be required to, make such payment or perform or comply <br />With such covenants and obligations on behalf of Lessee and the amount of any such <br />payment and the expenses (including but not limited to reasonable attorney's fees) <br />incurred by Lessor in performing or complying with such covenants and obligations, <br />as the case may be, together wilh interest thereon at the highest rale permitted by <br />applicable law, shall be payable by Lessee upon demand. <br />17. INTEREST ON DEFAULT. II Lessee fails to pay any payment due under this <br />Agreement, whether payments of rent under Paragraph 1, payment of taxes under <br />Paragraph 2, or payment for performance by Lessor of Lessee's obligations, under <br />Paragraph 16 or otherwise, within fifteen days after the due date thereof, Lessee <br />agrees to pay Lessor interest on such delinquent payments from the date due until <br />actually received in immediately available funds to Lessor at the highest lawlul rate <br />permitted by applicable law. <br />16. NOTICES. Any notices to be given or to be served upon any party hereto, in <br />connection with this agreement, must be in writing and may be given by certified or <br />registered mail, and shall be deemed to have been given and received fonyeight (46) <br />hours after a registered or certified letter containing such notice, postage prepaid. is <br />deposited in the United Stales mail, and if given otherwise shall be deemed to have <br />been given when delivered to and received by the party to whom it is addressed. <br />Such notice shall be given to the parties at their respective address(es) designated <br />on the signature page of this Agreement or at such other address as whether party <br />may hereafter designate in writing. <br />19. LIMITATION ON PAYMENTS. The Interest component of rental payments due <br />hereunder is not intended to and in no event shall exceed the maximum rate permit- <br />ted by applicable law and in the event any amount in excess of the maximum rate <br />permitted is paid by Lessee or collected by Lessor, then Lessee shall be entitled to <br />receive a credit against any amounts thereafter due hereunder or any of the amount <br />Of Such excess, or If n0 amounts remain due hereunder. the Lessee shall be entitled <br />to Immediate refund of any such excess. Lessee shall not be entitled to interest on <br />any such amounts refunded. <br />20. MISCELLANEOUS. <br />(a) Lessee Shall, whenever requested, advise Lessor of the exact location and <br />condition of the Property and shall give Lessor immediate notice of any attachment <br />or other judicial process affecting the Property, and indemnify and save Lessor harm- <br />less from any loss or damage caused thereby including without limitation, reasonable <br />atlomey's fees. Lessor may, for the purpose of inspection, at all reasonable times <br />enter upon any job, building or place where the Properly and the books and records <br />of the Lessee with respect hereto are located. <br />(b) Time Is of the essence. No covenant or obligations hereunder to be per- <br />formed by Lessee may be waived except by the written consent of Lessor and waiver <br />of any such covenant or obligation or a forbearance to invoke any remedy on any <br />occasion shall not constitute to be treated as a waiver of such covenant or obligation <br />or any other covenant or obligation as to any other occasion and shall not preclude <br />Lessor from invoking such remedy at any later time prior to the Lessee's cure of the <br />condition giving rise to such remedy. Lessor's rights hereunder are cumulative and <br />not alternative. <br />(c) This Agreement shall be construed and governed in accordance with the <br />laws of the State In which Lessee is located. Should the Lessee be located In Florida <br />Ooth Lessor and Lessee hereby agree venue for all legal action regarding this <br />Agreement shall be In St. Lucie County. Florida. <br />(d) This Agreement constitutes the entire agreement between the parties and <br />shall not be modified. waived, discharged. terminated, amended, altered or changed <br />In any respect except by a written document signed by both Lessor and Lessee. <br />(e) Any term or provision of this Agreement found to be prohibited by law or <br />unenforceable shall be ineffective to the extent of such prohibition or unenforceability <br />wlthoul, to the extent reasonably possible, invalidating the remainder of this <br />Agreement. <br />(1) The Lessor hereunder shall have the right at any time or times, by notice to <br />Lessee to designate or appoint any person or entity to act as agent or trustee for <br />Lessor for any purposes hereunder. <br />(g) All transportation, drayage, rigging, transit Insurance premiums and other <br />_narges payable for delivery of the equipment to and from the premises of Lessee, <br />,id all Installation. connect, disconnect and packing charges, shall be paid by <br />GEN148 REV 4-99 <br />Lessee. Lessee will immediately notify Lessor of any change occurring In or to Ina <br />Property, of a change in Lessee's address, or in any act or circumstance warranted <br />or represented by Lessee to Lessor, or it any Event of Default occurs. <br />(h) Use of the neuter gender herein Is for purposes of convenience only and <br />shall be deemed to mean and include the masculine or feminine gender whenever <br />and wherever appropriate. <br />(1) The captions set forth herein are for convenience of reference only and <br />shall not define or limit any of the terms or provisions hereof. <br />Q) Except as otherwise provided herein, this Agreement shall be binding upon <br />and Inure to the benefit of the parties hereto and their respective heirs, executors, <br />administrators, legal representatives, successors and assigns, where permitted by <br />this Agreement. <br />21. PREPAYMENT OPTION. Provided Lessee has compiled with the terms and <br />conditions of this Agreement, Lessee shall have the Option to prepay the payments <br />due during the Term hereof as to all but not less than all of the Property which is then <br />subject to this Agreement on the date prior to the nein payment coming due. Lessor <br />shall be given written notice by Lessee of Lessee's intention to prepay 60 days prior <br />to the extent inconsistent herewith, shall govern and control. An administrative fee of <br />fifty dollars ($50.00) may be charged Lessee on any such prepayment. <br />22. LATE CHARGES. Whenever any payment is not made by Lessee in full within <br />thirty (30) days of the date due. Lessee agrees to pay to Lessor, not later than one <br />month thereafter, an amount equal to 5% of the full scheduled payment, but only to <br />the extent allowed by law. Such amount shall be payable in addition to all amounts <br />payable by Lessee as a result of exercise or any of the remedies herein provided. <br />23. SECURITY INTEREST. To secure payment and performance of all obligations <br />of Lessee to Lessor hereunder. Lessee hereby grants to Lessor a continuing security <br />interest in the Equipment and proceeds thereof. Lessee shall execute one or more <br />Uniform Commercial Code financing statements in form satisfactory to Lessor to per- <br />fect the security interest granted by Lessor to Lessee herein. Lessee shall reimburse <br />Lessor for any searches, filings, recordings, stamp fees or taxes arising from the fil- <br />ing or recording of any Uniform Commercial Code financing statement. amendment <br />or termination, and this contract or any other instrument or statement. Lessee agrees <br />to procure for Lessor such estoppel certificates. landlord's or mortgagee's waivers or <br />other similar documents as Lessor may reasonably request. Should Lessee be pro- <br />hibited (By State Statues, Charter, Local Ordinances. etc.) from granting Lessor a <br />security interest In the Equipment under lease, then this paragraph shall be null and <br />void and Lessor shall not receive the aforementioned U.C.C. financing statements. <br />24. GOVERNMENTAL PURPOSES. Lessee and Lessor agree that it is the inten- <br />tion of both parties that the Equipment be used for governmental purposes only and <br />Lessee represents and warrants that the Equipment is hereby leased solely for gov <br />emmenlai use. <br />25. ATTORNEY'S FEES. In the event that either parry breaches the terms of this <br />Lease, the non -breaching party shall recover from the breaching pany all costs and <br />expenses incurred as a result of said breach, including. without limitation. reasonable <br />attorneys fees, including fees incurred at the trial or appellate levels. <br />In witness hereof, the undersigned Lessor has duty accepted and executed this <br />Lease this day of <br />(Name) <br />(Tine) <br />LESSOR: Riverside National Bank of Florida <br />2211 Okeechobee Rd. <br />Ft. Pierce, FL 34950 <br />561-466-1200 <br />1121f <br />EGU AL HOUSING LENDER <br />MEMBER F.0J.C. <br />