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- � atic plta [J o-; EQUIPMENT LEASE-PURCHASE AGREEMENT Lessee : (Name and Addmasj Lessor : (Name and Address) INDIAN RIVER COUNTY , FL CitiCapital Commercial Corporation 5300 73 '�'D STREET 8001 Ridgepoint Drive VERO BEACH , FL 32967 Irving, TX 75063 Lessor agrees to lease to Lessee and Lessee agrees to lease from Lessor the Equipment described in Schedule A , now or hereafter attached hereto , and all replacements, repairs, restorations, modifications and improvements thereof or hereof ("Equipment" ) in accordance with the following terms and conditions of this Equipment Lease-Purchase Agreement ( " Lease") . 1 . TERM. This Lease will become effective upon the execution hereof by Lessor. The term of this Lease will commence on the Commencement Date set forth in Schedule B attached hereto and, unless earlier terminated as expressly provided for in this Lease, will terminate on the Termination Date set forth in Schedule B attached hereto (the "Lease Term"). 2 . RENT. Lessee agrees to pay to Lessor or its assignee the Lease Payments, including the interest portion, in lawful money of the United States of America, equal to the amounts specified in Schedule B. The Lease Payments will be payable without notice or demand at the office of Lessor (or such other place as Lessor or its assignee may from time to time designate in writing), and will commence on the first Lease Payment Date as set forth in Schedule B and thereafter on the subsequent dates set forth in Schedule B. Any payments received later than ten ( 10) days from the due date will bear interest at the highest lawful rate from the due date. As set forth on Schedule B, a portion of each Lease Payment is paid as, and represents payment of, interest. Except as specifically provided in Section 6 hereof, the obligation of Lessee to make the Lease Payments hereunder and perform all of its other obligations hereunder will be absolute and unconditional in all events and will not be subject to any setoff, defense, counterclaim, abatement, deduction or recoupment for any reason whatsoever including, without limitation, any defects, malfunctions, breakdowns or infirmities in the Equipment or any accident, condemnation or unforeseen circumstances. Lessee reasonably believes that funds can be obtained sufficient to make all Lease Payments during the Lease Term and hereby covenants that it will do all things lawfully within its powers to obtain, maintain and properly request and pursue funds from which the Lease Payments may be made, including making provisions for such payments to the extent necessary in each budget submitted for the purpose of obtaining funding, using its bona fide best efforts to have such portion of the budget approved. It is Lessee ' s intent to make Lease Payments for the full Lease Term if funds are legally available therefor and in that regard Lessee represents that the use of the Equipment is essential to its proper, efficient and economic operation. Lessor and Lessee understand and intend that the obligation of Lessee to pay Lease Payments hereunder shall constitute a current expense of Lessee and shall not in any way be construed to be a debt of Lessee in contravention of any applicable constitutional or statutory limitation or requirement concerning the creation of indebtedness of Lessee, nor shall anything contained herein, constitute a pledge of the general tax revenues, funds or monies of Lessee . It is the intention of the parties hereto to comply with any applicable usury laws; accordingly, it is agreed that, notwithstanding any provisions to the contrary in this Agreement, in no event shall this Agreement require the payment or permit the collection of interest or any amount in the nature of interest or fees in excess of the maximum permitted by applicable law. 3 . DELIVERY AND ACCEPTANCE . Lessee shall order the Equipment, cause the Equipment to be delivered and installed at the location specified on Schedule A ( " Equipment Location") and pay any and all delivery and installation costs in connection therewith. Lessee will accept the Equipment as soon as it has been delivered and inspected. Lessee will evidence its acceptance of the Equipment by executing and delivering to Lessor a Delivery and Acceptance Certificate (in the form provided by Lessor) upon delivery of the Equipment. FLLease Rev . July 1 , 2001 02/02/05 4 : 14 PM Page 1 of 7 CITICAPITAL is a service mark of Citicorp . A memberof ertigrou +d