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1971-04CAPITAL SERVICES 215 E. 20th Street, Kansas City, Mo. 64108 Lease No 2 0044 1 STARTING DATE 12/15/71 LESSEE City of Clermont 1 Westgate Plaza Clermont, FL 34711 SUPPLIER OF EQUIPMENT Cal Hegstrom Company P O Box 1251 Leesburg, Florida 32748 Person to Contact R. M. Hopkins Supplier's Salesman Cal Hegstrom 787-4521 Quantity Description, Model No., Serial No., or other identification Saxon Copystat I. LEASE: Lessee hereby Ieases from lessor, and lessor leases to lessee, the personal property described herein and in any schedule made a part hereof by the parties hereto (herein called "equipment"). Whenever the context of this Lease requires, the masculine gender includes the feminine or neuter, and the singular number includes the plural'b and whenever the word Lessor is used herein, it shall include all assignees of Lessor. If there be more than one lessee named in this lease tha liability of each sh~1I e ioint and several. 2. EQUIPMENT DELIVERY: Lessee has requested equipment of the type and quantity specified herein and has selected the supplier named herein. lessor agrees to ordar such equipment from said supplier, but shall not be liable for specific performance of this lease or for damages if for any reason the suppfier delays or fails to fill the order Lessee shall accept such equipment if delivered in good repair,. and hereby authorizes lessor to add to this lease the. serial number of each item of equlipment so delivered. Any delay in such delivery shall not affed the validity of' this lease. 3. WARRANTIES: lessor will request the supplier to authorize lessee to enforce in its own name all warranties, agreements or representations. if any. which maX be made by the supplier to lessee or lessor, but lessor itself makes no ex pre.. or implied ",arranties as to any matter whatsoever, includin\!, without limitation, the conditIons of equip- ment. its merchantibility or its fitness for any farticular purpose. Lessee understands and egress that neither the supplier nor any salesman or afner agent of the supplier is on agent of lessor. No salesman or agent of supplier is authorized to waive or alter any term of condition of thiS lease, and no representation as to the equipment or any other matter by the supplier, nor defed or unfitness of the equipment shall rehieve lessee of the obligation to pay rent nor of any other obligation under this lease. 4. INITIAL TERM AND RENEWAL: This lease is irrevocable for the full initial term as set forth herein and payment of rental shall not abate by. reason of lessee's right of possession or the taking of possession by the lessor or for any other reason. The initial term of this Lease ,shall be effective upon the execution hereof and shall end upon the expiretion of the number of months specified herein following the month in which fifty percent (50%) of the value of saId equipment is shipped. Renewal privileges shown herein shall be exercised by Lessee 9iving Lessor a notice in writing and paying Lessor the amount of the annual renewal rental. at least 10 days prior to the ex- piration of the then existing term of this lease Jeither initial term or renewal term}. Upon such notification and payment, this lease shall be renewed for one the stated annual rental. The other provisions an conditions of this Lease shall continue unchanged. 5. LOCATION: The equipment shall be delivered and thereafter kept, maintained and located at the location specified herein and shall nof be removed therefrom Jut written consent. 6. OWNERSHIP OF LEASED PROPERTY: No title or right in said property shall pass to Lessee except the lease rights herein exrressly granted. If requested by lessor plates or other markings shall be affixed to or placed on said property indicating that Lessor, (or assigneel is the owner thereo and Lessee will not remove the same. Said property shall always remain and be deemed personal property even though attached to realty. All rep acements, equipment, repairs or accessories made to or placed in or upon said property shall become a compenent part thereof end title thereto shall be immediately vested in Lessor and shall be included under the terms hereof. 7. ASSIGNMENT: lessor may assign this Leese end said property and its assignee may also assign the same. All rights of Lessor hereunder shall be succeeded to by any assignee hereof and seid assignee's title to this lease, to the rental herein provided for to be paid and in and to said property shall be free from all defenses, setoffs or counterdeims of any kind or character which Lessee may be entitled to assert against Lessor; it being understood and agreed that any assignee or Lessor does not assume any obligafions of the lessor herein named. It is further understood and agreed, however, that Lessee may separately claim ageinst lessor as to any matters which lessee may be entitled to assert against lessor. 8. INDEMNITY: Lessee hereby indemnifies lessor against and holds Lessor harmless from any and all claims. actions, suits. proceedings, costs. expenses, damages and liabilI- ties, including attorneys' fees, arising out of or connected with the equipment or the use thereof, including without limiting the generality of the foregoing, its manufac- ture, selectionl delivery, possession. use, fitness, operation or return. 9. LOSS AND DAMAGE: lessee shall bear the entire risk of loss, theft, ,destruction or damage of the equipment from any cause whatsoever. No loss, theft, destruction or damame of the equipment shall relieve lessee of the obliganion to pay rent or any other obligation under this lease. In the event of loss, theft. destruction or damage of any kind to any item of equipment, leaso, at the option of lessor.. shall: (a) place the same In good condition and repair; or (b) replace the same with like equipment in good condition and repair; or (c) if such item is determined by lessor to be lost, stolen, destroyed, or damaged beyond repair, and if lessor so requests as an alternative to "(b)" above, pay lessor the total rent due and ow:lng on such item, plus the total of tne following amounts which the parties agree will equal the fair value of said item on the date of said loss, theft destruction or damage: (I) the present value computed as of the date of said loss. theft. destruction or damage. of all unpaid rent and other amounts payable by lessee with respect to saud item to the date of expiration of the then current term of this lease, plus (2) the reversion- ary value of said item as of said expiration date. Upon lessor's receipt of such payment, lessee shall be entitled to whatever interest lessor may have in said item, in its then condition and locotion, without warranty express or implied. 10. INSURANCE: Lessee assumes the entire risk of loss from hazard and agrees to keep the property insured to protect all interests of lessor, at lessee's expense, and for such risks and in such amounts as Lessor may require, including the liability of Lessor for public liability and property damage; and Lessor may, but shall not be obli- gated to, insure said properly at the expense of lessee. Said insurance policies and the proceeds there from shall be the sole property of lessor and lessor shall be named as on insured in all said policies. The proceeds of such insurance, whether resulting from loss or damage or return premium, or otherwise, shall be applied toward the replacement or repair of the said property or the payment of obligations of Lessee hereunder at the option of Lessor. Lessee hereby appoints Lessor as. Lessee's attornev-In-fact to make claim for, receive payment of and execute or endorse all documents, checks or drafts for loss or damage or return premium under any Insurance policy issued on said property. II. TAXES MAINTENANCE, AND INSPECTION OF lEASED EQUIPMENT: Lessee agrees to use, operate and maintain said property in accordance with all laws. and not to sublet the same; to pay all licensing or registration fees for said properfy\ to keep the same free of levies, liens and encumbrances; and to pay all taxes levied on or in relation to said property or the use thereof. Lessee agrees to keep said property in first-class condition at his own expense; to repair and house the same in suitable shelter; to permit lessor to inspect said property at any time; and not to sell or otherwise dispose of his interest therein or In any equipment or accessories attached thereto. 12. WAIVERS: No omiSSion to exercise any right, power or remedy accruing to Lessor upon any breach or default by Lessee under this Lease shall impair any such ri<;lht. power or remedy of Lessor, nor shall be construed as a weiver of any such breach or default, or of any similar breach or default thereafterl.occurring, nor shall any waiver of a single breach or default be deemed a waiver of any subsequent breach or default. All waivers under this lease must be in writing. All remedies either under this Lease or by law afforded to lessor shall be cumulative. 13. COLLECTION EXPENSE, INTEREST, AND ADVANCES: Should Lessee fail to pay any part of thl! rent herein reseNed or any other sum required to be paid by lessee to lessor hereunder, lessee shall pay Lessor interest on such delinquent payment at the highest legal contract rate from the date when such payment was due until paid, and the expenses of any collection agency or service employed by Lessor to collect said payments. In the event Lessor employs the services of an attorney to enforce any of the terms of this Lease, Lessee agrees to pay reasonable attorney fees and court costs so incurred by Lessor. All advances made by lessor to preserve said property or to pay insurance premiums for insurance thereon or to discharge an pay any taxes, liens or encumbrances thereon shall be added to the unpold bolance lof rentals due hereunder and shall be repayable by lessee to Lessor together with Interest thereon at the highest legal contract rate until palid. 14. DEFAULT' REMEDIES: If (a) lessee shall default in the payment of any rent or in making any other payment hereunder when due. or (b) lessee shall default in the payment 'when due of any indebtedness of Lessee to Lessor arising independently of this lease, of {c} Lessee shall default in the performance of any other covenant herein end such default shall continue for 5 days efter written notice thereof to Lessee by lessor. or (d) Lessee, becomes insolvent or mak.es an assignment for the benefit of creditors, or (e) Lessee applles .for or. consults. to the. appointment of a. receiver, trustee or liquidator of Lessee or of alI or a substantial part of the assets of Lessee, or if such receiver trustee or liquidator IS appointed Without the application or consent of Lessee, or {f} a petition .IS flied by or against Lessee under the Bankruptcy Act or any amendm'ent thereto including, without limitatio.n, a petition. for reorganization, arrangement or. extension) o.r under any other insolvency law or law providing for the relief of debtors then, If and to the extent permitted by applicable law, lessor shall have the fight to exerCISe anyone or more of the follOWing remedies: (I) to declare the entire amount of unpaid total rent for the balance of the. term of this lease due and payable, hereupon the same shall become immediately due and payable; (2) without demand or legal process, to enter into premises where equipment may be found and take. possession of and remove the same, and sell equipment at .publlc or private sale w.ith or Without notice to Lessee With or Without haVing equipment at the sale, at whIch sale' Lessor may purchase all or any of EqUipment and Without any right of redemption with Lessee, the proceeds of such sale, less expenses of retaking, storage, repairing and reselling, ond. reasonable attorneys' fees incurred, by Lessor, to be applied to the payment of the unpaid total rent for the balance of the term of thiS lease and any other amounts oWing hereunder, . lessee remainlng liable for any deficiency and any surplus thereafter remainlng to be paid to Lessee, Its succeSSorS or assigns, or to whomsoever may be lawfully entitled to receive the same, or os a court o'f competent jurisdiction may direct; (3) to pursue any other remedy .available to Lessor ot law or in equity. 15. SURRENDER: On or before the expiration or earlier ,termination of this Lease ,Lessee, at its expense, shall return the Equipment in good condition and repair, by de.. Iivering it,packed and ready for shipment, to such place or on board such carrier as lessor may specify within the county in which the equipment was delivered to lessee. 16. NOTICES: For the purpose of this Agreement any notices required to be given shall be given to the parties hereto in writing and by mail at the addresses herein set forth. or to such other addresses as each party may substitute by notice to the other. ' 17. CONCURRENT REMEDIES: lessor's rights and remedies are cumulative and may be exercised concurrently or se~arately. No such right or remedy is 'exclusive of any other right or remedy provided or permitted by law. 18. FURTHER ASSURANCE: Lessee shall execute and deliver to Lessor, upon Lessor's request, such instruments and assurances as Lessor deems necessary or advisable for the confirmation or perfection of this lease and lessor's rights hereunder. 19. ENTIRE AGREEMENT: This agreement constitutes the entire understanding between the parties hereto and may not be modified, amended, altered or changed except as specifically stated herein or by a written agreement signed by the party sought to be changed. CAPITAL SERVICES, Inc. 1215 east 20th street kansas ci'ty, mo. 64108 January 24, 1972 . City of Clermont 1 We stgate Plaza Clermont, Florida 32771 Gentlemen: Enclosed Is your executed copy of our lease agreement and letter covering term - ination options. These are important papers and should be retained for future reference. The enclosed coupons are magnetically encoded. In order to give you proper credit, it is extremely important to include the coupon with your rental payment. You will notice that the coupon book has been up -dated to reflect your next due date. We would call your attention again to paragraphs ten and eleven of the enclosed agreement. Because "taxes levied on or in relation to said property" are the responsibility of the lessee, it is important that you include this property in those schedules required by local authorities for personal property assessment purposes. Insurance protection called for by the agreement can usually be provided by endorse - ment to your existing policies. We are pleased to include your name among our customers and we believe that you will find our leasing program advantageous. If there is any further service we may render, we hope you will call upon us. Most Cordially James E. C. Tinsman for Capital Services, Iuc.