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notice of Lessor's sale, assignment or transfer of all or any part of its interest '
<br /> s , Lessee. Lessee will immediately notify Lessor of any change occurring in or to the
<br /> hereunder, Lessee agrees to attorn to and recognize any such purchaser
<br /> assignee(s) , or transferee(s) (jointly if more than one) as the Lessor(s) under Property, of a change in Lessee's address, or in
<br /> any actor circumstance warranted
<br /> this Agreement. Upon assignment, Lessor is thereby relieved of any further or represented by Lessee to Lessor, or if any Event
<br /> of Default occurs.
<br /> obligations . Upon written request Lessee agrees to execute and deliver such (h) Use of the neuter gender herein is for purposes
<br /> of convenience only and
<br /> certificates or other instruments as may reasonably be requested, including, but
<br /> not limited to, a separate acknowledgement of assignment and attornment cer- shall be deemed to mean and include the masculine or feminine
<br /> gender whenever
<br /> tificate in the customary form as to an and wherever appropriate.
<br /> y purchaser's, assignee's or transferee's
<br /> right, title and interest in , to and under this Agreement, and with respect to the captions set forth herein are for convenience
<br /> of reference Only and
<br /> Property and the Payments thereafter due and payable pursuant to this Agreement. (� t The ca r" y of the terms or provisions hereof.
<br /> shall not define or limit an Y
<br /> 15. PERSONAL PROPERTY. The property is and shall at all times be and remain G) Except as otherwise provided herein, this Agreement shall
<br /> be binding upon
<br /> personal property, as described in Paragraph 6 (b). and inure to the benefit of the parties hereto and their respective heirs,
<br /> executors,
<br /> 16. LESSOR'S RIGHT TO PERFORM FOR LESSEE. If Lessee fails to make an administrators, legal representatives, successors and assigns, where
<br /> permitted by
<br /> payment or perform or comply with any of its covenants or obligations hereunder, y this Agreement.
<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 21 . PREPAYMENT OPTION. Provided Leese has complied with
<br /> the terms and
<br /> conditions of this Agreement, Lessee shall have the Option to prepay the payments
<br /> payment and the expenses (including but not limited to reasonable attorney's fees
<br /> ) due during incurred by Lessor in performing or complying with such covenants and obligations, subject tothis
<br />eAgreement on thTerm hereof as e date prior all but tto h less t next payment coming due. Lessor
<br /> as the case may be, together with interest thereon at the highest rate permitted by 9 Property which is then
<br /> applicable law, shall be payable h Lessee upon demand. shall be given written notice by Lessee of Lessee's intention to prepay 60 days
<br /> prior
<br /> to the next payment due. An administrative fee of fifty dollars ($50.00) may be
<br /> 17. INTEREST ON DEFAULT. If Lessee fails top
<br /> a an charged Lessee on any such prepayment.
<br /> Agreement, whether payments of rent under ParagraphY payent due 1 under this
<br /> Paragraph 2, or payment for performance by Lessor of Lessee's obligations, under thirty (30) days oA xes under 22. LATE CHRGES.
<br />Whenever y payment is not made by Lessee in full within
<br /> he dated e, Le see agrees to pay to Lessor, not later than one
<br /> Paragraph 16 or otherwise, within fifteen days after the due date thereof, Lessee month thereafter, an amount equal to 5% of the full scheduled
<br /> payment, but only to
<br /> agrees to pay Lessor interest on such delinquent payments from the date due until the extent allowed by law. Such amount shall be payable
<br /> in addition to all amounts
<br /> actually received in immediately available funds to Lessor at he highest lawful rate payable by Lessee as a result of exercise of any of
<br /> the remedies herein provided.
<br /> permitted by applicable law.
<br /> 18. NOTICES. Any notices to be given or to be served. upon an 23. SECURITY INTEREST. To secure payment and performance of all obligations
<br /> rtY of Lessee to Lessor hereunder, Lessee hereby grants to Lessor a continuing security
<br /> connection with this agreement, must be in writing and may be given by certified or interest in the Equipment and proceeds thereof. Lessee
<br /> shall execute one or more
<br /> registered mail, and shall be deemed to have been given and received forty eight (48) Uniform Commercial Code financing statements in form
<br />satisfactory to Lessor to per-
<br /> hours after a registered or certified letter containing such notice, postage prepaid, is fect the security interest granted by Lessor to Lessee
<br /> herein. Lessee shall reimburse
<br /> deposited in the United States mail, and if given otherwise shall be deemed to have Lessor for any searches, filings, recordings, stamp fees or
<br /> taxes arising from the fil-
<br /> been given when delivered to and received by he party to whom it is addressed. ing or recording of any Uniform Commercial Code financing statement,
<br /> amendment
<br /> Such notice shall be given to the parties at heir respective address(es) designated or termination, and this contract or any other instrument or
<br /> statement. Lessee agrees
<br /> on the signature page of this Agreement or at such other address as either party to procure for Lessor such estoppel certificates, landlord's
<br /> or mortgagee's waivers or
<br /> may hereafter designate in writing.
<br /> other similar documents as Lessor may reasonably -request. Should Lessee be pro-
<br /> 19. LIMITATION ON PAYMENTS. The interest component of rental payments due
<br /> hibited (by State Statues, Charter, Local Ordinances, etc.) from granting Lessor a
<br /> hereunder is not intended to and in no event shall exceed the maximum ratePa _ security interest in the Equipment under lease, then this paragraph
<br /> shall be null and
<br /> ted by applicable law and in the event any amount in excess of the maximum rate e 't void and Lessor shall not receive the aforementioned U.C.C.
<br /> financing statements.
<br /> permitted is paid by Lessee or collected by Lessor, then Lessee shall be entitled to
<br /> receive a creditai against any amounts thereafter due hereunder or any of the amount 24. GOVERNMENTAL PURPOSES. Lessee and Lessor agree that it
<br />is the inten-
<br /> of d
<br /> excess, o i no amounts remain due hereunder, the Lessee shall be entitled tion of both parties that the Equipment be used for governmentalpurposes
<br /> to immediate refund of any such excess. Lessee shall not be entitled to interest on Lessee represents and warrants that the Equipment is
<br /> hereby leasedo solely to rgo d
<br /> any such amounts refunded. ernmental use.
<br /> 20. MISCELLANEOUS. 25. ATTORNEY'S FEES. In the event that either
<br /> Lease, the non-breachingParty breaches the terms s this
<br /> (a) Lessee shall, whenever requested, advise Lessor of the exact location and Party shall recover from the breaching party all costs
<br /> and
<br /> condition of the Property and shall give Lessor immediate notice of any attachment expenses
<br /> fees, including feeresus of
<br /> at the trial orappellate levelsation, reasonable
<br /> or other judicial process affecting the Property, attome
<br /> 9 p rty, and indemnify and save Lessor harm-
<br /> less from any los or damage caused thereby including without limitation, reasonable
<br /> attorney's fees. Lessor may, for the purpose of inspection, at all reasonable times
<br /> enter upon any job, building or place where the Property 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- In witness hereof, the undersigned Lessor has duly accepted and
<br /> executed this
<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 anyLease this rii t_ h __ da, y of _ ApY 1 20
<br /> 03
<br /> or any other covenant or obligation as to any other occasion and shall not preclude
<br /> occasion shall not constitute to be treated as a waiver of such covenant or obligation
<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 LESSOR : Riverside National Bank
<br /> laws of the State in which Lessee is located. Should the Lessee be located in Florida P Pierce ,BOX 20 4
<br /> both Lessor and Lessee hereby agree venue for all legal action regarding this Ft. . B FL 78
<br /> 954
<br /> Agreement shall be in St. Lucie County, Florida.
<br /> 561 -466- 1200
<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. By
<br /> (e) Any term or provision of this Agreement found to be prohibited by law or (Signature �7`��
<br /> unenforceable shall be ineffective to the extent of such prohibition or unenforceability _ Azo /� ��
<br /> without, to the extent reasonably possible, invalidating the remainder of this (Print Name)
<br /> Agreement.
<br /> (f) 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 (Title)
<br /> Lessor for any purposes hereunder. � . /� " ' C
<br /> (g) All transportation , drayage, rigging, transit insurance premiums and other
<br /> charges payable for delivery of the equipment to and from the premises of Lessee,
<br /> and all installation, connect, disconnect and packing charges, shall be paid by
<br /> GEN 408 REV 12-01 EQUAL HOUSING LENDER
<br /> MEMBER F.D.I.C.
<br />
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