Lessee to Lessor, within five (5) days after the due date thereof,
Lessee shall (in addition to all other amounts due Lessor) pay Lessor the lesser
of one and one-half percent (1.5%) per month, or the maximum amount allowed by
law until paid on such unpaid amounts.
6.
SECURITY DEPOSIT.
If a Security Deposit amount is specified in the Schedule
A, Lessee agrees to pay such amount to Lessor prior to the Scheduled Lease
Commencement Date. If Lessee has fulfilled all terms and conditions herein, the
Security Deposit shall be returned to Lessee without interest or it may be
applied to any purchase option exercised by Lessee at the expiration of the
Lease.
7.
NO WARRANTIES/LESSEE'S OBLIGATIONS (VENDOR NOT AN AGENT). LESSEE
ACKNOWLEDGES THAT: LESSOR IS NOT THE MANUFACTURER OF THE EQUIPMENT NOR THE
MANUFACTURER'S AGENT NOR A DEALER THEREIN; THE EQUIPMENT IS OF A SIZE, DESIGN,
CAPACITY, DESCRIPTION AND MANUFACTURE SELECTED BY LESSEE; LESSEE IS SATISFIED
THAT THE EQUIPMENT IS SUITABLE AND FIT FOR ITS PURPOSES; LESSOR HAS NOT MADE AND
DOES NOT MAKE ANY WARRANTY OR REPRESENTATION WHATSOEVER, EITHER EXPRESS OR
IMPLIED, AS TO THE FITNESS, CONDITION, MERCHANTABILITY, DESIGN OR OPERATION OF
THE EQUIPMENT, ITS FITNESS FOR ANY PARTICULAR PURPOSE, THE QUALITY OR CAPACITY
OF THE MATERIALS IN THE EQUIPMENT OR WORKMANSHIP IN THE EQUIPMENT NOR ANY OTHER
REPRESENTATION OR WARRANTY WHATSOEVER; LESSOR SHALL NOT BE LIABLE TO LESSEE AND
LESSEE HEREBY WAIVES ANY CLAIM IT MAY HAVE AGAINST LESSOR FOR ANY LOSS, DAMAGE
(CONSEQUENTIAL OR OTHERWISE) OR EXPENSE CAUSED DIRECTLY OR INDIRECTLY BY THE
EQUIPMENT LEASED HEREUNDER. NO DEFECT OR UNFITNESS OF THE EQUIPMENT NOR ANY
REPRESENTATION AS TO THE EQUIPMENT OR ANY OTHER MATTER BY VENDOR SHALL RELIEVE
LESSEE OF THE OBLIGATION TO PAY ANY RENTALS OR PERFORM ANY OTHER OBLIGATION
UNDER THIS LEASE. LESSEE UNDERSTANDS AND AGREES THAT NEITHER VENDOR NOR ANY
SALES REPRESENTATIVE OR OTHER AGENT OF VENDOR, IS AN AGENT OF LESSOR. NO SALES
REPRESENTATIVE OR AGENT OF VENDOR IS AUTHORIZED TO WAIVE OR ALTER ANY TERM OR
CONDITION OF THIS LEASE. Lessor hereby assigns to Lessee for the duration of
this Lease all warranties received by Lessor with respect to the Equipment, to
the extent assignable, and Lessor shall have no obligation whatsoever to make
any claim on such warranty.
8.
LOCATION/INSPECTION/MARKING.
The Equipment at all times shall be located at
the address specified in the applicable Schedule A unless Lessee has notified
Lessor in writing of a change of location for each Item of Equipment and Lessor
consents to such change. Lessee shall make the Equipment available for
inspection by Lessor's representatives during Lessee's normal business hours and
shall make Lessee's log, maintenance and other records pertaining to the
Equipment available for inspection and duplication by Lessor's representatives.
Lessee shall affix to or place on the Equipment such labels, plates, or other
markings indicating Lessor's ownership in the Equipment as may be directed and
supplied by Lessor.
9.
USE.
Lessee agrees all Equipment will only be used in Lessee's trade or