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 />
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