Document:

EXHIBIT 10.12

 

	
   

  	
  03060101

  	
   

  
	
   

  	
  LEASE NUMBER

  	
   

  

 

MarCap
Corporation

 

	
  Main Line Number:
             312-641-0233

  	
   

  	
  Facsimile
  Number:   312-425-2441

  
	
  Toll Free Number:
  1-800-621-1677

  	
   

  	
  Website:  www.marcapcorp.com

  

 

EQUIPMENT LEASE

 

Lease dated as of June 13, 2003, between
MarCap
Corporation, a Delaware corporation having its principal office at
20 North

 

Wacker Drive, Suite 2150, Chicago, Illinois
60606 (“Lessor”), and Digirad Imaging Solutions. Inc., a Corporation
organized under the laws of the state of Delaware and having its
chief executive office at 9350 Trade Place, San Diego. CA 92126
(“Lessee”).

 

1.  Lease.  Subject to the terms hereof, Lessor hereby
leases to Lessee, and Lessee hereby leases from Lessor, the equipment and other
property (“Equipment”) described on Equipment Schedules (“Schedule or
Schedules”) to this Lease executed from time to time by Lessor and Lessee, all
of which are made a part hereof.  For
the purposes of this Equipment Lease, each Schedule relating to one or more
items of Equipment shall be deemed to incorporate all of the terms and
provisions of this Equipment Lease.

 

2.  Term.  The term of Lease for the items of Equipment
included on any Schedule shall commence on the date such items are accepted by
Lessee (“Commencement Date”) and, subject to the terms hereof, shall continue
for the period of time set forth on said Schedule.

 

3.  Rental.  Lessee shall pay to Lessor, as rental for
the Equipment, the monthly rent set forth on each Schedule.  The first rental payment shall be due on the
Commencement Date and subsequent rental payments shall be due on the same day
of each month thereafter.  All rent
shall be paid to Lessor at 20 North Wacker Drive, Suite 2150, Chicago, Illinois
60606, or at such other address as Lessor may specify, without notice or demand
and without abatement, deduction or setoff. Rent and any other payments due
hereunder not made within ten (10) days of the due date shall be subject to a
service charge equal to the lesser of (i) five percent (5%) of the overdue
payment, (ii) the maximum amount permitted by law.

 

4.  Errors in
Estimated Cost; Omissions. 
The rentals set forth on each Schedule are based upon the estimated cost
of Equipment and shall be adjusted proportionately if the actual cost differs
from the estimate.  Lessee authorizes
Lessor, with respect to each Schedule, (i) to so adjust the rent once the
actual cost is known, (ii) to insert on such Schedule serial numbers or other
more specific descriptions of the Equipment. “Cost, as used herein, means the
total cost to the Lessor of purchasing and causing delivery and installation of
the Equipment, including taxes, transportation and any other charges paid by
Lessor.

 

5.  Disclaimer
of Warranties.  LESSEE
ACKNOWLEDGES THAT:  (i) THE EQUIPMENT IS
OF A SIZE, DESIGN, CAPACITY AND MANUFACTURE SELECTED BY LESSEE; (ii) LESSOR IS
NOT A MANUFACTURER NOR A DEALER IN PROPERTY OF SUCH KIND; (iii) NEITHER THE
VENDOR NOR ANY REPRESENTATIVE OF ANY VENDOR OR ANY MANUFACTURER OF THE
EQUIPMENT IS AN AGENT OF LESSOR OR AUTHORIZED TO WAIVE OR ALTER ANY TERM OR
CONDITION OF THIS LEASE; AND (iv) LESSOR HAS NOT MADE AND DOES NOT HEREBY MAKE
ANY WARRANTY, EXPRESS OR IMPLIED, AS TO ANY MATTER WHATSOEVER, INCLUDING,
WITHOUT LIMITATION, THE CONDITION, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR
PURPOSE OF THE EQUIPMENT.  No defect in,
unfitness of, or an inability of Lessee to use any Equipment, howsoever caused,
shall relieve Lessee from its obligation to pay rentals or from any other
obligations.  Lessor shall not in any
event be responsible to Lessee or anyone claiming through Lessee for any
damages, direct, consequential, or otherwise, resulting from the delivery,
installation, use, operation, performance or condition of any Equipment, or any
delay or failure by any vendor in delivering and/or installing any Equipment or
performing any service for Lessee. 
Nothing herein shall be construed as depriving Lessee of whatever rights
Lessor may have against any vendor of the Equipment, and Lessor hereby authorizes
Lessee, at Lessee’s expense, to assert for Lessor’s account during the term of
this Lease, all of Lessor’s rights under any warranty or promise given by a
vendor and relating to Equipment so long as Lessee is not in default
hereunder.  Lessee may communicate with
the vendor supplying the Equipment and receive an accurate and complete
statement of those promises and warranties, including any disclaimers and
limitations of them or of remedies.

 

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6.  Acceptance.  Lessee shall inspect each item of Equipment
within 72 hours after delivery or, where applicable, installation thereof.  Unless Lessee within such period of time
gives written notice to Lessor and the vendor specifying any defect in or other
proper objection to an item of Equipment, it shall be conclusively presumed
between Lessor and Lessee that Lessee has fully inspected such Equipment, that
such Equipment is in full compliance with the terms of this Lease, that such
Equipment is in good condition (operating and otherwise) and repair, and that
Lessee has unconditionally accepted such Equipment.  Forthwith after acceptance of each item of Equipment, Lessee
shall execute and deliver to Lessor, Lessor’s form of Delivery and Acceptance
Acknowledgment.

 

7.  Maintenance.  Lessee will maintain the Equipment in good
operating order and appearance, protect the Equipment from deterioration, other
than normal wear and tear, and will not use the Equipment for any purpose other
than that for which it was designed. 
Lessee will maintain in force a standard maintenance contract with the
manufacturer of the Equipment or a party authorized by the manufacturer and
acceptable to the Lessor to perform such maintenance (the “maintenance
contractor”), and upon request will provide Lessor with a complete copy of that
contract.  Lessee’s obligation regarding
the maintenance of the Equipment will include, without limitation, all
maintenance and repair recommended or advised either by the manufacturer,
government agencies, or regulatory bodies and those commonly performed by
prudent business and/or professional practice. 
Upon return of the Equipment, Lessee will provide a letter from the
maintenance contractor certifying that the Equipment meets all current
specifications of the manufacturer, is in compliance with all pertinent
governmental or regulatory rules, laws or guidelines for its operation or use,
is qualified for the maintenance contractor’s standard maintenance contract and
is at then current release, revision and engineering change levels.

 

8.  Security
Deposit.  The security
deposit, if any, specified on each Schedule shall secure the full and faithful
performance of all agreements, obligations and warranties of Lessee hereunder,
including, but not limited to, the agreement of Lessee to return the Equipment
upon the expiration or earlier termination of this Lease in the condition
specified.  Such deposit shall not
excuse the performance of any such agreements, obligations or warranties of
Lessee or prevent a default.  Lessor may
(but need not) apply all or any part of such security deposit toward discharge
of any overdue obligation of Lessee.  To
the extent any portion of the security deposit is so applied by Lessor, Lessee
shall forthwith report the security deposit to its full amount.  If upon the expiration of the term of this
Lease, Lessee shall have fully complied with all of its agreements, obligations
and warranties hereunder, any unused portion of such security deposit will be
refunded to Lessee.  Lessor shall not be
obligated to pay interest on the security deposit.

 

9.  Insurance.  Lessee, at its expense, shall keep the
Equipment insured against all risk of less of physical damage (including
comprehensive boiler and machinery coverage and earthquake and flood insurance
if Lessor determines that such events could occur in the area where the
Equipment is located) for the full replacement value of the Equipment.  Lessee shall further provide and maintain
comprehensive public liability insurance against claims for bodily injury,
death and/or property damage arising out of the use, ownership, possession,
operation or condition of the Equipment, together with such other insurance as
may be required by law or reasonably requested by Lessor.  All said insurance shall name both Lessor
and Lessee as parties insured and shall be in form and amount and with insurers
satisfactory to Lessor, and Lessee shall furnish to Lessor certified copies or
certificates of the policies of such insurance and each renewal thereof.  Each insurer must agree, by endorsement upon
the policy or policies issued by it, that it will give Lessor not less than 30
days written notice before such policy or policies are canceled or altered,
and, under the physical damage insurance, a) that losses shall be payable
solely to Lessor, and (b) that no act or omission of Lessee or any of its
officers, agents, employees, or representatives shall affect the obligation of
the insurer to pay the full amount of any loss.  Lessee hereby irrevocably authorizes Lessor to make, settle and
adjust claims under such policy or policies of physical damage insurance and to
endorse the name of Lessee on any check or other item of payment for the
proceeds thereof; it being understood, however, that unless otherwise directed
in writing by Lessor, Lessee shall make and file timely all claims under such
policy or policies, and unless Lessee is then in default, Lessee may, with the
prior written approval of Lessor (which will not be unreasonably withheld)
settle and adjust all such claims.

 

10.  Risk of
Loss.  As used herein, the
term “Event of Loss” shall mean any of the following events with respect to any
item of the Equipment:  (a) the actual
or constructive total loss of such Equipment; (b) the loss, theft, or
destruction of such Equipment or damage to such Equipment to such extent as
shall make repair thereof uneconomical or shall render such Equipment
permanently unfit for normal use for any reason whatsoever; or (c) the
condemnation, confiscation, requisition, seizure, forfeiture or other taking of
title to or use of such Equipment. 
Except as expressly hereinafter provided, the occurrence of any Event of
Loss or other damage to or deprivation of use of any Equipment, howsoever
occasioned, shall not reduce or impair any obligation of Lessee hereunder, and,
without limiting the foregoing, shall not result in any abatement or reduction
in rentals whatsoever.  Lessee hereby
assumes and shall bear, from the time such risk passes to Lessor from the
vendor until expiration or termination of the lease term and return of the
Equipment to Lessor, the entire risk of any Event of Loss or any other damage
to or deprivation of use of the Equipment, howsoever occasioned.

 

Upon the occurrence of any damage to any
Equipment not constituting an Event of Loss, Lessee, at its sole cost and
expense, shall promptly repair and restore such Equipment so as to return such
Equipment to substantially the same condition as existed prior to the date of
such occurrence (assuming such Equipment was then in the condition required by
this Lease).  Provided that Lessee is
not then in default hereunder, upon receipt of evidence reasonably satisfactory
to Lessor of completion of such repairs and restoration in accordance with the
terms of this Lease, Lessor will apply any insurance proceeds received by
Lessor on account of such occurrence

 

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to the cost of such repairs and restoration;
it being understood, however, that if at such time Lessee shall be in default
hereunder, Lessor may, at its option, retain any part or all of such proceeds
and apply same to any obligations of Lessee to Lessor.

 

Upon the occurrence of an Event of Loss,
Lessee shall immediately notify Lessor in writing of such occurrence, fully
informing Lessor of all details with respect thereto, and, on or before the
first to occur of (i) 30 days after the date upon which such Event of Loss
occurs, or (ii) 5 days after the date on which either Lessor shall receive any
proceeds of insurance in respect of such Event of Loss or any underwriter of
insurance on the Equipment shall advise Lessor or Lessee in writing that it
disclaims liability in respect of such Event of Loss, if such be the case,
Lessee shall pay to Lessor an amount equal to the sum of (a) accrued but unpaid
rent and other sums due under the Lease plus (b) the present value of all
future rentals reserved in the Lease and contracted to be paid over the
unexpired term discounted at 6% per annum plus (c) the present value of
Lessor’s residual value of the Equipment as of the expiration of the term
discounted at 6% per annum (the “Stipulated Loss Value”), less the amount of
any insurance proceeds or condemnation or similar award by a governmental
authority then actually received by Lessor on account of such Event of Loss.  No delay or refusal by any insurance company
or governmental authority in making payment on account of such Event of Loss
shall extend or otherwise affect the obligations of Lessee hereunder.  Lessee shall continue to pay all rentals and
other sums due hereunder up to and including the date upon which the Stipulated
Loss Value is actually received in full by Lessor, whereupon this Lease with
respect to such Equipment shall terminate and all rentals reserved hereunder
with respect to such Equipment from the date such payment is received in full
by Lessor, as aforesaid, to what would have been the end of the term hereof,
shall abate.  No such payment shall
affect Lessee’s obligations with respect to Equipment not subject to an Event
of Loss.  After receipt by Lessor of all
sums due hereunder, Lessor will upon request of Lessee transfer its interest,
if any, in such Equipment to Lessee on an “as is, where is” basis and without
warranty by or recourse to Lessor.

 

The proceeds of insurance in respect of an
Event of Loss and any award on account of any condemnation or other taking of
any Equipment by a governmental authority shall be paid to Lessor and applied
by Lessor against the obligation of Lessee to pay Lessor the Stipulated Loss
Value of such Equipment (or, if Lessee shall have first paid the Stipulated
Loss Value in full, shall be promptly paid over by Lessor to Lessee up to the
extent necessary to reimburse Lessee for payment of the Stipulated Loss Value);
and the balance, if any, of such proceeds or award shall be paid over promptly
by Lessor to Lessee if Lessee is not then in default hereunder.  If Lessee is in default hereunder, Lessor
may at its option apply all or any part of such proceeds to any obligations of
Lessee to Lessor.

 

11.  Indemnity.  Lessee shall indemnify and hold Lessor
harmless from and against any and all claims, costs, expenses (including
attorneys’ fees) losses and liabilities of whatsoever nature arising out of or
occasioned by or in connection with (i) the purchase, delivery, installation,
acceptance, rejection, ownership, leasing, possession, use, operation,
condition or return of any Equipment including, without limitation, any claim
alleging latent or other defects and any claim arising out of strict liability
in tort, or (ii) any breach by Lessee of any of its obligations hereunder.

 

12.  Taxes.  Lessee shall pay as and when due, and
indemnify and hold Lessor harmless from and against, all present and future
taxes and other governmental charges (including, without limitation, sales,
use, leasing, stamp and personal property taxes and license and registration
fees), and amounts in lieu of such taxes and charges and any penalties and
interest on any of the foregoing, imposed, levied or based upon, in connection
with or as a result of the purchase, ownership, delivery, leasing, possession
or use of the Equipment or the exercise by Lessee of any option hereunder, or
based upon or measured by rentals or receipts with respect to this Lease.  Lessee shall not, however, be obligated to
pay any taxes on or measured by Lessor’s net income.  Lessee authorizes Lessor to add to the amount of each rental
installment any sales or leasing tax that may be imposed on or measured by such
rental installment.  Notwithstanding the
foregoing, unless and until Lessor notifies Lessee in writing to the contrary,
Lessor will file all personal property tax returns covering the Equipment and
will pay the personal property taxes levied or assessed thereon.  Lessee, upon receipt of invoice, will
promptly pay to Lessor, as additional rent, an amount equal to the lesser of
(i) property taxes so paid by Lessor plus the cost incurred by Lessor if Lessor
elects to contest such tax, or (ii) the original property tax assessment.

 

If not thereby subjecting the Equipment to
forfeiture or sale, Lessee may at its expense contest in good faith, by
appropriate proceedings, the validity and/or amount of any of the taxes or
other governmental charges described above, provided that prior written notice
of any such contest shall be given to Lessor together with security
satisfactory to Lessor for the payment of the amount being contested and
provided further that Lessor has not contested such tax.

 

13.  Notices;
Inspection.  Lessee shall
give Lessor immediate notice of any attachment, judicial process, lien,
encumbrance or claim affecting the Equipment, any loss or damage to the
Equipment or material accident or casualty arising out of the use, operation or
condition of the Equipment, and any change in the residency or principal place
of business of Lessee or any guarantor of Lessee’s obligations hereunder
(“Guarantor”).  Lessor may (but need
not), for the purpose of inspection, at all reasonable business hours, enter
from time to time upon any premises where the Equipment is located.

 

14.  Alterations.  Lessee shall not make or permit any changes
or alterations to the Equipment without Lessor’s prior written consent.  All accessories, replacements, parts and
substitutions for or which are added or attached to the Equipment shall become
the property of Lessor, included in the definition of Equipment, and subject to
this Lease.

 

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15.  Title;
Additional Assurances. 
Lessee shall keep the Equipment free from all liens and
encumbrances.  Lessee will promptly
execute, or otherwise authenticate, and deliver to Lessor such further
documents, instruments, assurances and other records, and take such further
action as Lessor from time to time may reasonably request in order to carry out
the intent and purpose of this Lease and to establish and protect the rights
and remedies created or intended to be created in favor of Lessor under the
Lease (including, without limitation (i) lien searches and (ii) such UCC
financing statements, fixture filings and waivers as reasonably may be required
by Lessor in connection with any change in circumstances relating to Lessee,
the Equipment or otherwise); provided, however, Lessee hereby authorizes Lessor
to file any and all of the same without Lessee’s authentication, to the extent
permitted by applicable law.  Lessee
shall provide written notice to Lessor not less than thirty (30) days prior to
any contemplated change in the name, the jurisdiction of organization, or
address of the chief executive office, of Lessee.

 

16.                                 Quiet Enjoyment.  So
long as Lessee shall not be in default and fully performs all of its
obligations hereunder, Lessor will not interfere with the quiet use and
enjoyment of the Equipment by Lessee.

 

17.                                 Return. 
Upon the expiration or earlier termination of this Lease with respect to
any Equipment, Lessee, pursuant to Lessor’s instructions and at Lessee’s
expense, will have the Equipment deinstalled, audited by the maintenance
contractor or another party acceptable to Lessor, packed and shipped fully
insured and in accordance with the manufacturer’s instructions to the
destination specified by Lessor; provided, however, that Lessor shall reimburse
Lessee for any freight charges incurred at the direction of Lessor which may
exceed the charges for shipment from the location of such Equipment to Lessor’s
place of business in Chicago, Illinois. 
All returned Equipment shall be in good operating order and appearance,
other than normal wear and tear and shall comply with all of the requirements
of Section 7.  Lessee shall pay to
Lessor, on demand, the cost of any repairs necessary to place the Equipment in
the condition required by this Lease.

 

18.                                 Lessee’s
Warranties.  In order to induce Lessor to enter into this
Lease and to lease the Equipment to Lessee hereunder, Lessee represents and
warrants that:  (a) Disclosures. (i) its
applications, financial statements and reports which have been submitted by it
to Lessor are, and all information hereafter furnished by Lessee to Lessor will
be, true and correct in all material respects as of the date submitted; (ii) as
of the date hereof and the date of any Schedule and any lease Commencement
Date, there has been no material adverse change in any matter stated in such
applications, financial statements and reports; (iii) there are no known
contingent liabilities or liabilities for taxes of Lessee which are not
reflected in said financial statements or reports; and, (iv) none of the
foregoing omit or omitted to state any material fact (b) Organization. Lessee’s
legal name, state of organization and chief executive office is as first set
forth above and Lessee is duly organized, validly existing and in good standing
in such state and duly qualified to do business in each state where the
Equipment will be located, (c) Power and Authority.  Lessee has full power, authority and legal right to execute,
deliver and perform this Lease and any Schedule thereto, and the execution,
delivery and performance hereof has been duly authorized by all necessary
action of Lessee, (d) Enforceability. 
This Lease and any Schedule or other document executed in connection
therewith has been duly executed and delivered by Lessee and constitutes a
legal, valid and binding obligation of Lessee enforceable in accordance with
its terms. (e) Consents and Permits. 
The execution, delivery and performance of this Lease does not require
any approval or consent of any stockholders, partners or proprietors or of any
trustee or holders of any indebtedness or obligations of Lessee, and will not
contravene any law, regulation, judgment or decree applicable to Lessee, or the
certificate of organization, partnership agreement or by-laws of Lessee, or
contravene the provisions of, or constitute a default under, or result in the
creation of any lien upon any property of Lessee under any mortgage, instrument
or other agreement to which Lessee is a party or by which Lessee or its assets
may be bound or affected.  Lessee is not
in violation of any laws, ordinances, decrees, orders, governmental rules or
regulations to which it is subject and Lessee has, or when required by
applicable law will have, all the licenses, accreditations, permits and
regulatory approvals necessary for the operation of its business and the
performance of this Lease, (f) Title to Equipment.  On each Commencement Date, Lessor shall have good and marketable
title to the items of Equipment being subjected to this Lease on such date,
free and clear of all liens created by or through Lessee.

 

19.  Assignment.  Lessee hereby consents to any assignment by
Lessor and any reassignment of this Lease or rents hereunder with or without
notice.  Lessee agrees that the rights
of any assignee shall not be subject to any defense, setoff or counterclaim
that Lessee may have against Lessor, and that any such assignee shall have all
of Lessor’s rights hereunder, but none of Lessor’s obligations.  Neither this Lease nor any of Lessee’s
rights hereunder shall be assignable by Lessee, either by its own act or by
operation of law, without the prior written consent of Lessor, which shall not
be unreasonably withheld, and any such attempted assignment shall be void.
Lessee further agrees it will not, without the prior written consent of Lessor,
allow the Equipment to be used by persons other than employees of Lessee, or
rent or sublet any Equipment to others. 
Lessee may relocate any Equipment from the premises where originally
installed subject to Lessor’s approval which shall not be unreasonably
withheld.

 

20.  Lessor’s
Right to Terminate.  Without
limiting the rights of Lessor in the event of a default by Lessee, Lessor shall
at any time prior to acceptance of any Equipment have the right to terminate
this Lease with respect to such Equipment if (a) there shall be an adverse
change in Lessee’s or any Guarantor’s financial position or credit standing, or
(b) Lessor otherwise in good faith deems itself insecure, or (c) such Equipment
is not for any reason delivered to Lessee within 90 days or accepted by Lessee
within 30 days after any estimated delivery date thereof specified in the Schedule
describing such Equipment, or (d) Lessee rejects any Equipment in accordance
with Paragraph 6 hereof.  Upon any
termination by Lessor pursuant to this Paragraph, Lessee shall forthwith
reimburse to Lessor all sums paid by Lessor with respect to such Equipment and
pay to Lessor all other sums then due hereunder; whereupon, if

 

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Lessee is not then in default and has then
fully performed all of its obligations hereunder, Lessor will, upon request of
Lessee, transfer to Lessee without warranty or recourse any rights that Lessor
may then have with respect to such Equipment.

 

21.  Right to
Perform Obligations.  If
Lessee shall fail to make any payment or perform any act or obligation required
of Lessee hereunder, Lessor may (but need not) at any time thereafter make such
payment or perform such act or obligation at the expense of Lessee.  Any expense so incurred by Lessor shall
constitute additional rental hereunder payable by Lessee to Lessor upon demand with
interest at the overdue rate, as hereinafter defined.

 

22.  Events of
Default.  An event of default
shall occur hereunder if the owner(s) of Lessee sell or otherwise transfer
their controlling interest in Lessee or if Lessee (i) fails to pay any installment
of rent or other payment required hereunder when due and such failure shall
continue for more than five (5) days; or (ii) attempts to or does remove from
the premises, sell, transfer, encumber, part with possession of, or sublet any
item of Equipment; or (iii) breaches or shall have breached any representation
or warranty made or given by Lessee or Guarantor in this Lease or in any other
document furnished to Lessor in connection herewith, or any such representation
or warranty shall be untrue or, by reason of failure to state a material fact
or otherwise, shall be misleading; or (iv) fails to perform or observe any
other covenant, condition or agreement to be performed or observed by it
hereunder, and such failure or breach shall continue un remedied for a period
of thirty (30) days after the earlier of (a) the date on which Lessee obtains,
or should have obtained knowledge of such failure or breach; or (b) the date on
which notice thereof shall be given by Lessor to Lessee; or (v) shall become
insolvent or bankrupt or make an assignment for the benefit of creditors or
consent to the appointment of a trustee or receiver, or a trustee or receiver
shall be appointed for a substantial part of its property without its consent,
or bankruptcy or reorganization or insolvency proceeding shall be instituted by
or against Lessee; or (vi) ceases doing business as a going concern; or (vii)
shall have terminated its legal existence, consolidated with, merged into, or
conveyed or leased substantially all of its assets to any person.

 

23.  Remedies
Upon Default.  In the event
of any default by Lessee, Lessor may, at its option, do one or more of the
following: (a) terminate this Lease and Lessee’s rights hereunder; (b) proceed
by appropriate court action to enforce performance of the terms of this Lease
and/or recover damages for the breach hereof; (c) directly or by its agent, and
without notice or liability or legal process, enter upon any premises where any
Equipment may be located, take possession of such Equipment, and either store
it on said premises without charge or remove the same (any damages occasioned
by such taking of possession, storage or removal being waived by Lessee);
and/or (d) declare as immediately due and payable and forthwith recover from
Lessee, as liquidated damages and not as a penalty, an amount equal to the then
aggregate Stipulated Loss Value of the Equipment.

 

In the event of any repossession of any
Equipment by Lessor, Lessor may (but need not), without notice to Lessee, (A)
hold or use all or part of such Equipment for any purpose whatsoever, (B) sell
all or part of such Equipment at public or private sale for cash or on credit
and/or (C) relet all or part of such Equipment upon such terms as Lessor may
solely determine; in each case without any duty to account to Lessee except as
herein expressly provided. After any repossession of Equipment by Lessor there
shall be applied on account of the obligations of Lessee hereunder one of the
following chosen at the option of Lessor: (x) the net proceeds actually
received by Lessor from a sale of such Equipment, after deduction of all
expenses of sale and other expenses recoverable by Lessor hereunder, or (y) the
then “net fair market value” of such Equipment, as determined by an appraisal
made by an independent appraiser selected by Lessor at Lessee’s expense, taking
into account a reasonable estimate of all expenses necessary to effect a sale
and the other expenses recoverable by Lessor hereunder; and Lessee shall remain
liable, subject to all provisions of this Lease, for the balance of the
Stipulated Loss Value.  No termination,
repossession or other act by Lessor after default shall relieve Lessee from any
of its obligations hereunder.  In
addition to all other charges hereunder, Lessee shall pay to Lessor on demand
all fees, costs and expenses incurred by Lessor as a result of such default,
including without limitation, reasonable attorneys’, appraisers’ and brokers’
fees and expenses and costs of removal, storage, transportation, insurance and
disposition of the Equipment (except to the extent deducted from “net fair
market value” or net proceeds of sale, as aforesaid).  In the event that any court of competent jurisdiction determines
that any provision of this Paragraph 23 is invalid or unenforceable in whole or
in part, such determination shall not prohibit Lessor from establishing its
damages sustained as a result of any breach of this Lease in any action or
proceeding in which Lessor seeks to recover such damages.  The remedies provided herein in favor of
Lessor shall be exclusive, but shall be cumulative and in addition all other
remedies existing at law or in equity, any one or more of which may be
exercised simultaneously or successively.

 

24.  Non-Waiver.  Lessor’s failure at any time to require
strict performance by Lessee of any provision hereof shall not waive or
diminish Lessor’s rights thereafter to demand strict performance thereof or of
any other provision.  None of the
provisions of this Lease shall be held to have been waived by any act or
knowledge of Lessor, but only by a written instrument executed by Lessor and
delivered to Lessee.  Waiver of any
default shall not be a waiver of any other or subsequent default.

 

25.  Communications.  Any notice or other communication required
or desired to be given hereunder shall be given in writing and shall be deemed
to have been duly given and received when sent by confirmed express mail, when
delivered by hand or by confirmed Federal Express delivery or other reputable
overnight courier or by facsimile on the date actually received by the
addressee and, when deposited in the United States mail, registered or
certified, postage prepaid, return receipt requested, on the third business day
succeeding the day on which such notice was mailed, addressed to the respective
addresses of the parties set forth at the beginning of this lease or any other
address designated by notice served in accordance herewith.

 

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26.  Financial
and Other Information.  Lessee
shall furnish to Lessor the following financial and other information about the
condition and affairs of Lessee and any Guarantor; (a) within 120 days of the
expiration of each fiscal year of such party, audited or reviewed financial
statements, and within 45 days of each fiscal quarter, unaudited financial
statements certified as true and correct by such party, consisting in each case
of balance sheet, income statement and statement of cash flows, all prepared in
accordance with generally accepted accounting principles, consistently applied;
(b) such other information as Lessor may reasonably request from time to time.

 

27.  Holding
Over.  Any use of the
Equipment beyond the initial lease term or any renewal thereof shall be deemed
to be an extension of the Lease term on a month-to-month basis terminable by
Lessor on ten (10) days notice to Lessee and all obligations of Lessee herein,
including payment of rent shall continue during such holding over.

 

28.  Survival.  Lessee’s indemnities shall survive the
expiration or other termination of this Lease.

 

29.  Service of
Process; Venue.  IN ORDER TO
INDUCE LESSOR TO EXECUTE THIS LEASE, LESSEE HEREBY AGREES THAT ALL ACTIONS OR
PROCEEDINGS ARISING DIRECTLY OR INDIRECTLY FROM THIS LEASE SHALL BE LITIGATED
ONLY IN COURTS (STATE OR FEDERAL) HAVING SITUS IN THE STATE OF ILLINOIS AND THE
COUNTY OF COOK UNLESS LESSOR, IN ITS SOLE DISCRETION, WAIVES THIS PROVISION.
LESSEE HEREBY EXPRESSLY SUBMITS AND CONSENTS IN ADVANCE TO SUCH JURISDICTION IN
ANY ACTION OR PROCEEDING COMMENCED BY LESSOR IN ANY STATE OR FEDERAL COURT
LOCATED WITHIN THE STATE OF ILLINOIS, HEREBY WAIVES PERSONAL SERVICE OF THE
SUMMONS AND COMPLAINT OR OTHER PROCESS OR PAPERS ISSUED THEREIN, AND AGREES
THAT SERVICE MAY BE MADE BY REGISTERED OR CERTIFIED MAIL ADDRESSED TO LESSEE AS
PROVIDED FOR IN PARAGRAPH 25 HEREOF, AND THAT SERVICE SO MADE SHALL BE DEEMED
TO BE COMPLETED ON THE THIRD BUSINESS DAY AFTER THE SAME SHALL HAVE BEEN MAILED
IN THIS MANNER. LESSEE WAIVES ANY CLAIM THAT ANY ACTION INSTITUTED BY LESSOR
HEREUNDER IS IN AN INCONVENIENT FORUM OR AN IMPROPER FORUM BASED ON LACK OF
VENUE. TO THE EXTENT PERMITTED BY LAW, LESSEE HEREBY WAIVES TRIAL BY JURY AND
ANY RIGHT OF SETOFF OR COUNTERCLAIM IN ANY ACTION BETWEEN LESSOR AND LESSEE.

 

30.  Security
Interest.  To the extent that
any of the transactions evidenced by Schedules are secured transactions, Lessee
hereby grants to Lessor a security interest in the Equipment described on such
Schedules as security for all Lessee’s obligations and liabilities under the
Lease and Lessee authorizes Lessor to disburse the purchase price of such
Equipment directly to the vendor(s) thereof.

 

31.  Non-Cancelable
Lease; Unconditional Obligations. 
THIS LEASE CANNOT BE CANCELED OR TERMINATED EXCEPT BY LESSOR AS
EXPRESSLY PROVIDED FOR HEREIN.  LESSEE
AGREES THAT LESSEE’S OBLIGATION TO PAY ALL RENT AND PAY AND PERFORM ALL OTHER
OBLIGATIONS HEREUNDER SHALL BE ABSOLUTE, IRREVOCABLE, UNCONDITIONAL AND
INDEPENDENT AND SHALL BE PAID OR PERFORMED WITHOUT ABATEMENT, DEDUCTION OR OFFSET
OF ANY KIND WHATSOEVER.  NOTWITHSTANDING
THE FOREGOING, LESSEE MAY PREPAY ANY EQUIPMENT SCHEDULE CONTAINING A PREPAYMENT
PROVISION IN ACCORDANCE WITH THAT PROVISION.

 

32.  Lessee
Waivers.  To the extent
permitted by applicable law, Lessee hereby waives any and all rights and
remedies conferred upon a Lessee by Sections 2A-508 through 2A-522 of the
Uniform Commercial Code, including, without limitation, the right to (i) cancel
this Lease; (ii) repudiate this Lease; (iii) reject this Lease; (iv) revoke acceptance
of the Equipment; (v) recover damages from Lessor for any breach of warranty or
any other reason; (vi) claim a security interest in any rejected property in
Lessee’s possession; (vii) deduct all or any part of claimed damages resulting
from Lessor’s default; (viii) accept partial delivery of the Equipment; (ix)
“cover” by making any purchase or lease of equipment in substitution of the
Equipment; (x) recover any general, special, incidental or consequential
damages from Lessor for any reason.

 

33.  Miscellaneous.  Interest on any past due sums shall accrue
at the rate of 1 1⁄2% per month, not to exceed the maximum rate permitted by law
(the “overdue rate”).  If any provision
of this Lease or the application thereof is hereafter held invalid or unenforceable,
the remainder of this Lease shall not be affected thereby, and to this end the
provisions of this Lease are declared severable.  Titles to Paragraphs shall not be considered in the
interpretation of this Lease.  This
Lease (including the Schedules and any Riders hereto) sets forth the entire
understanding between the parties and may not be modified except in a writing
signed by both parties.  Except as may
be expressly provided in any Schedule or Rider hereto, no options to purchase
any of the Equipment or extend the term of this Lease with respect to any
Equipment have been granted or agreed to by Lessor, and none shall be implied
by this Lease.  If there is more than
one Lessee, the obligations of Lessee hereunder are joint and several.  The necessary grammatical changes required
to make the provisions hereof apply to corporations, partnerships and/or
individuals, men or women, shall in all cases be assumed as though in each case
fully expressed.  Subject to the terms
hereof, this Lease shall be binding upon and inure to the benefit of Lessor and
Lessee and their respective personal representatives, successors and
assigns.  This Lease shall be governed
in all respects by the laws of the State of Illinois.  This Lease is submitted to Lessor for its acceptance or rejection
and will not become effective until accepted by Lessor in writing at its office
in Chicago, Illinois.  The individuals
executing this Lease on behalf of Lessee personally warrant that they are doing
so pursuant to due authorization and that by so executing this Lease, Lessee is
being bound hereby.

 

6

 

Dated as of the day and year first above
written.

 

	
   

  	
  LESSEE:Digirad Imaging
  Solutions, Inc.

  
	
   

  	
      Legal Name

  
	
   

  	
   

  
	
  Accepted by Lessor at
  Chicago, Illinois

  	
  /s/
  Todd P. Clyde

  
	
   

  	
  Signature (1)

  	
  Signature (2)

  
	
  MarCap Corporation

  	
   

  
	
   

  	
  Todd P. Clyde

  
	
   

  	
  Printed Name

  	
  Printed Name

  
	
  By:

  	
  /s/ Illegible

  	
   

  	
   

  
	
  (Title)

  	
  CFO

  
	
   

  	
  Title

  	
  Title

  
	
   

  	
   

  
	
   

  	
  Witness:

  	
  /s/
  Susan Yeagley Sullivan 

  	
   

  
	
   

  	
   

  
	
   

  	
  Susan Yeagley Sullivan 

  
	
   

  	
  Printed
  Name

  
							

 

Revised March, 2002 (Form Number LS1000)

 

7

 

Schedule No. 01

 

To and hereby made a part of Equipment Lease
No. 03060101 dated as of June 13, 2003, between MarCap Corporation (“Lessor”)
and Digirad Imaging Solutions (“Lessee”).

 

	
  Equipment:

  	
   

  	
  Vendor:

  
	
  2020tc Gamma Camera SN#
  144  

  	
   

  	
  Digirad Corporation

  
	
  SPECTour Chair SN# 107

  	
   

  	
   

  
	
  Ford E250Van
  VIN#1FTNS24L51HB75380  

  	
   

  	
   

  
	
  Van Modifications Ability
  Center

  	
   

  	
   

  

 

Original Location:  7444 Trade Street, San Diego, CA 92126

Initial Term of Lease:  Sixty (60) months in advance

Rental: 
1-60 =$6,545.00 per month, plus any applicable taxes

Advance Rental:  $6,545.00 covering first month’s rental payment

Security Deposit:  None

Estimated Total Cost of Equipment:  $313,239.83, plus any applicable taxes.

 

Additional Provisions:

 

NOMINAL PURCHASE OPTION: 
Provided that Lessee is not then in default under the Lease and has then
fully performed all of its obligations hereunder, Lessee shall have the option
at the expiration of the term to purchase all of the Equipment leased under
this Schedule on an “as is, where is” basis, without warranties, express or
implied, for a price (plus applicable taxes) of one dollar ($1.00).

 

RENT ADJUSTMENT (PRIME): The monthly rent set forth above is based
upon the prime rate published in the Wall Street Journal as of February 26,
2003. If, on the Commencement Date, such rate has increased, the monthly rent
will increase proportionately.

 

PREPAYMENT:  No
prepayment will be allowed during the first 18 months of the term of the Lease;
thereafter the entire amount of the Lease may be prepaid by paying off the then
outstanding principal balance, plus all late and other charges and accrued
interest, plus a prepayment fee.  The
prepayment fee will be calculated by multiplying the then outstanding principal
balance by the following applicable factor:

 

	
  Prepayment Date

  	
   

  	
  Factor

  	
   

  
	
  Months 19-36

  	
   

  	
  3.0

  	
  %

  
	
  Months 37-48

  	
   

  	
  2.0

  	
  %

  
	
  Months 49-60

  	
   

  	
  1.0

  	
  %

  

 

 

	
  Dated as of the day and
  year first above written.

  	
  LESSEE

  	
  Digirad Imaging Solutions,
  Inc.

  	
   

  
	
  Accepted by Lessor at
  Chicago Illinois

  	
      Legal Name

  
	
  MARCAP CORPORATION

  	
   

  
	
   

  	
   

  
	
  By:  

  	
  /s/ Illegible

  	
   

  	
  /s/ Todd P. Clyde

  
	
  Vice President

  	
  Signature (1)

  	
  Signature (2)

  
	
   

  	
   

  
	
   

  	
  Todd P. Clyde

  
	
   

  	
  Printed Name

  	
  Printed Name

  
	
   

  	
   

  
	
   

  	
  CFO

  
	
   

  	
  Title

  	
  Title

  
	
   

  	
   

  
	
   

  	
  Witness:

  	
  /s/
  Susan Yeagley Sullivan

  	
   

  
	
   

  	
   

  
	
   

  	
  Susan Yeagley Sullivan 

  
	
   

  	
  Printed
  Name

  
									

 

 

Revised March, 2002 (Form Number LS1001)

 

 

CROSS-COLLATERAL
AND CROSS-DEFAULT AGREEMENT

 

Agreement entered into this
13th day of June 2003 between Digirad Imaging Solutions, a Delaware Corporation
(“Debtor”) and MarCap Corporation, a Delaware Corporation (“Secured Party”).

 

RECITALS

 

A)                                  Debtor
is indebted to Secured Party pursuant to the agreements identified on Exhibit
“A” hereto (the “existing indebtedness”).

 

B)                                    Secured
Party may extend additional leasing / financing accommodations to Debtor from
time at its sole discretion, either directly or by purchasing Debtor’s
indebtedness to third party (s) (“new indebtedness”).

 

C)                                    Secured
party is unwilling to consider any new indebtedness unless Debtor agrees to
both cross default and cross collateralize existing and new indebtedness.

 

For valuable consideration, the
parties agree as follows:

 

1)                                      Cross
Default.  A default by Debtor under
any agreement evidencing either existing indebtedness or new indebtedness shall
constitute a default by Debtor under all such Agreements, entitling Secured
party to declare a default under any or all of the Agreements and to exercise
all rights and remedies provided for therein.

 

2)                                      Cross
Collateral.  The equipment and other
collateral security described in each agreement evidencing existing
indebtedness or new indebtedness shall secured the payment, performance and
observance of all obligations and liabilities of Debtor to Secured Party, now existing
or hereafter and howsoever arising under all Agreements.

 

3)                                      Definition.  As used herein, the term Agreements includes
both agreements evidencing existing indebtedness and agreements evidencing new
indebtedness.

 

4)                                      Successors
and Assigns.  This agreement shall
bind and inure to the benefit of the parties hereto and their respective
successors and assigns.

 

5)                                      Miscellaneous.  This agreement may not be amended except in
a writing signed by the Secured Party. A failure by Secured Party to exercise
its rights hereunder on one or more occasions shall not constitute a waiver of
such right.

 

	
  Digirad
  Imaging Solutions (Debtor) 

  	
  MARCAP
  CORPORATION (Secured Party) 

  
	
  By

  	
  /s/ Todd P. Clyde

  	
  CFO 

  	
   

  	
  By

  	
  /s/ Illegible 

  	
   

  
	
   

  	
   

  	
  Title

  	
   

  	
   

  	
  Title  

  	
   

  

 

 

Revised April, 2001

Form Number SD1008

 

 

Delivery
and Acceptance

Acknowledgement

 

	
  To:

  	
  MarCap Corporation

  	
   

  
	
   

  	
  20 North Wacker Drive

  	
   

  
	
   

  	
  Suite 2150

  	
   

  
	
   

  	
  Chicago, IL 60606

  	
   

  
	
   

  	
  RE:

  	
  Equipment Lease
  No.  03060101

  
	
   

  	
   

  	
  Schedule
  No.      01

  
	
   

  	
   

  	
  Vendor:

  	
  Digirad Corporation

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

The undersigned hereby acknowledges that:

 

1.                                       The Equipment leased under the above
Equipment Lease and Schedule:

 

(a)  has been delivered to and, as of this date,
unconditionally accepted by the undersigned;

 

(b)  is in good condition (operating and
otherwise) and repair; and

 

(c)  is in full compliance with the terms of said
Lease.

 

2.                                       Unless otherwise specified on said Schedule,
the Commencement Date under said Schedule is, and the obligation of the
undersigned to pay rental with respect to said Equipment commences on, the date
of this Acknowledgement.

 

3.                                       In the event that the undersigned shall at
any time hereafter have any problems with said Equipment, it will look solely
to said Vendor for satisfaction and will nevertheless continue to pay rentals
to MarCap Corporation free of any setoff, counterclaim or defense.

 

The undersigned further acknowledges and
understands that based upon the foregoing, MarCap Corporation will cause the
balance of the purchase price for said Equipment to be paid to said Vendor.

 

Dated this 25 day of June, 2003.

 

	
   

  	
  Digirad Imaging Solutions,
  Inc.

  
	
   

  	
  Lessee

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Todd P. Clyde

  	
   

  
	
   

  	
   

  
	
   

  	
  Printed Name:

  	
  Todd
  P. Clyde

  	
   

  
	
   

  	
   

  
	
   

  	
  Title:

  	
  CFO

  	
   

  
						

 

 

***PLEASE
KEEP THIS FORM UNTIL THE EQUIPMENT HAS BEEN DELIVERED AND

READY
TO BE ACCEPTED***

 

Revised March 2002

Form Number LS1008<Page>

                                                                   EXHIBIT 10.13

                             DVI FINANCIAL SERVICES INC.     Fully Executed Copy
                                MASTER EQUIPMENT LEASE            LEASE NO. 2982
                                   ("MASTER LEASE")           DATE: MAY 24, 2001

LESSOR:
         DVI Financial Services Inc.
         2500 York Road
         Jamison, Pennsylvania 18929
         Telephone (215) 488-5000
         Facsimile (215) 488-5408

LESSEE:  DIGIRAD IMAGING SOLUTIONS, INC.

BILLING ADDRESS:                     EQUIPMENT ADDRESS:

9350 Trade Place                     Mobile Unit Services Contracts in Florida
San Diego, CA 92126

                              TERMS AND CONDITIONS

1.       LEASE.
         Lessor leases to Lessee, and Lessee hires from Lessor, all of the
tangible personal property (with all present and future accessories, additions,
upgrades, attachments, repairs and replacement parts, collectively called
"Equipment") described in each equipment schedule executed from time to time
pursuant to this Master Lease ("Equipment Schedule"). Each equipment Schedule
shall (a) be on Lessor's form, (b) incorporate all of the terms of this Master
Lease, and (c) contain additional terms as Lessor and Lessee agree.
2.       TERM.
         (a) The term of this Master Lease shall being on the date set forth
above and shall continue in effect so long as any Equipment Schedule remains in
effect.
         (b) The lease term for each Equipment Schedule shall begin on the date
of shipment to Lessee of the Equipment (or any part thereof) described in such
Equipment Schedule or such later date as Lessor may designate in writing (the
"Commencement Date"), and shall continue thereafter for the term set forth in
such Equipment Schedule. On the Commencement Date, Lessee shall execute and
deliver to Lessor a Delivery and Acceptance Certificate, in a form to be
specified by Lessor, which confirms the Commencement Date.
         (c)  THIS LEASE AND THE LEASE TERM FOR EACH EQUIPMENT SCHEDULE ARE NOT
CANCELABLE BY LESSEE.
3.       RENT AND PAYMENT.
         Lessee shall pay Lessor, as rental for the Equipment during each month
of the term of any Equipment Schedule, the monthly rent set forth in such
Equipment Schedule, together with any and all monthly rent payable pursuant to
Section 8(a) hereof in connection with any accessions, additions, upgrades with
attendant maintenance contracts, and improvements to any of the Equipment, which
shall be payable in advance without notice or demand on the dates set forth in
such Equipment Schedule. Lessee agrees to pay interim rent in an amount equal to
the pro rata periodic monthly rent from the Commencement Date to the first
regular monthly periodic rent payment date. Thereafter, the regular periodic
rent shall be due on the first day of each succeeding period commencing with the
first day of the month following the Commencement Date as set forth on the
Equipment Schedule. Lessee shall pay the monthly rent and all other money due
under this Master Lease or any Equipment Schedule by check or wire transfer so
as to constitute immediately available funds at Lessor's address set forth above
or at such other place as Lessor shall designate in writing, or if to an
assignee of Lessor, at such place as such assignee shall designate in writing,
and Lessee shall make such payments free and clear of all claims, demands or
setoffs against Lessor or such assignee. Whenever any payment (of rent or
otherwise) is not made within ten (10) days from the date due hereunder, Lessee
shall pay Lessor a late charge of five percent (5%) of any payment not paid when
due, plus the lesser of eighteen percent (18%) interest per year or the highest
lawful rates on such payment until received, or such lesser maximum amount as is
permitted by applicable law. In addition, Lessor at its option may require at
any time that Lessee make all payments due hereunder or under any Equipment
Schedule by certified check or by wire transfer.
4.       REQUEST FOR EQUIPMENT.
         Lessee requests Lessor to order the Equipment described in any
Equipment Schedule executed by Lessee from the supplier named in such Equipment
Schedule, to arrange for delivery to Lessee at Lessee's expense, and to pay for
the Equipment as provided in such Equipment Schedule. Lessee acknowledges and
agrees that: (a) Lessee has independently selected the supplier and the
Equipment, and that Lessor will rely on specifications provided by Lessee in
ordering the Equipment; (b) Lessee shall be responsible for all costs and
expenses relating to the selection, shipment, delivery, assembly, installation,
testing, adjusting, servicing, operation and acceptance of the Equipment; (c)
unless the Equipment Schedule otherwise provides, Lessor's payment to the
supplier will occur only after Lessee has confirmed (on Lessor's Delivery and
Acceptance Certificate) satisfactory delivery, assembly, installation,
inspection and acceptance of the Equipment; (d) Lessor shall have no
responsibility for any delay, failure or refusal on the part of any supplier to
accept or fill Lessor's order; (e) upon Lessee's acceptance of Equipment, Lessee
shall execute Lessor's Delivery and Acceptance Certificate; (f) Lessor has the
option to terminate any Equipment Schedule and all obligations to Lessee under
such Equipment Schedule, and to recover from Lessee any deposit paid by Lessor
to the supplier, if the Equipment described in such Equipment Schedule has not
been delivered, assembled, installed and accepted by Lessee within 60 days from
the date that Lessor orders the Equipment; (g) no supplier is Lessor's agent, or
authorized to bind Lessor or waive or alter any provision of this Master Lease
or any Equipment Schedule; and (h) if Lessee cancels this Master Lease after
execution of such but prior to the Lessee's execution of the Delivery and
Acceptance Certificate, Lessor may withhold and keep any deposits or funds paid
by Lessee to Lessor.
5.       EQUIPMENT SELECTION; DISCLAIMER OF WARRANTIES; WAIVERS.
         (a) Lessee acknowledges, represents and warrants that Lessee has made
the selection of Equipment based on Lessee's own judgment, and expressly
disclaims any reliance upon statements made by Lessor or Lessor's agents,
employees or salespersons.
         (b) LESSOR MAKES NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS
TO THE CAPACITY, CONDITION, DESIGN, DURABILITY, MATERIAL, MERCHANTABILITY,
PERFORMANCE, QUALITY, SUITABILITY, WORKMANSHIP OR VALUE OF THE EQUIPMENT OR ITS
FITNESS FOR ANY PARTICULAR PURPOSE OR THAT THE EQUIPMENT WILL SATISFY THE
REQUIREMENTS OF ANY LAW, RULE, REGULATION, SPECIFICATION OR CONTRACT, OR ANY
OTHER REPRESENTATION OR WARRANTY OF ANY KIND OR NATURE WHATSOEVER WITH RESPECT
TO THE EQUIPMENT OR ANY ASSOCIATED ITEM OR ANY ASPECT THEREOF. AS TO THE LESSOR,
LESSEE LEASES THE EQUIPMENT "AS IS".
         (c) Lessee acknowledge that (i) Lessor is neither the manufacturer of
the Equipment nor a manufacturer's agent, supplier or dealer, and has no
familiarity with the Equipment; and (ii) Lessor shall have no obligation to
assemble, install, test, adjust or service the Equipment.
         (d) Lessor shall not be liable, to Lessee or otherwise, to any extent
whatsoever, for the selection, quality, condition, merchantability, suitability,
fitness, operation or performance of the Equipment. Without limiting the
generality of the foregoing, Lessor shall not be liable, to Lessee or otherwise,
for any liability, claim, loss, damage or expense of any kind or nature
(including strict negligent liability in tort) caused, directly or indirectly,
by the Equipment or any inadequacy thereof for any purpose, or any deficiency or
defect therein, or the use or maintenance thereof, or any repairs, servicing or
adjustments thereto; or any delay in providing or failure to provide any part
thereof, or any interruption or loss of service thereof, or any loss of
business, or any damage whatsoever and howsoever caused.
         (e) REGARDLESS OF CAUSE, LESSEE WILL NOT ASSERT ANY CLAIM WHATSOEVER
AGAINST LESSOR FOR LOSS OF ANTICIPATORY PROFITS OR ANY OTHER INDIRECT, SPECIAL
OR CONSEQUENTIAL DAMAGES. IT IS EXPRESSLY UNDERSTOOD AND AGREED THAT EACH AND
EVERY PROVISION OF THIS

<Page>

AGREEMENT WHICH PROVIDES FOR A LIMITATION OF LIABILITY, DISCLAIMER OF
WARRANTIES OR EXCLUSION OF DAMAGES, IS INTENDED BY THE PARTIES TO BE
SEVERABLE FROM ANY OTHER PROVISION AND IS A SEPARABLE AND INDEPENDENT ELEMENT
OF RISK ALLOCATION AND IS INTENDED TO BE ENFORCED AS SUCH.
         (f) If the Equipment fails to comply with any representation or
warranty made by the supplier or manufacturer thereof, or is defective or
improperly assembled or installed or otherwise unsatisfactory for any reason,
Lessee shall make claim on account thereof against the supplier or manufacturer
thereof, and Lessee shall nevertheless pay all rent and perform all other
obligations under this Master Lease and all Equipment Schedules without
asserting any claim against Lessor. Lessor hereby assigns to Lessee, without
recourse and solely for the purpose of prosecuting such a claim, all rights that
Lessor may have against the supplier and manufacturer of Equipment for breach of
warranty or other representations with respect to the Equipment; provided,
however that this assignment shall not preclude Lessor, in its sole discretion
from asserting and prosecuting such a claim. Lessee shall indemnify and hold
Lessor harmless from and against any and all claims, costs, expenses, damages,
losses and liabilities incurred or suffered by Lessor as a result or incident to
any such action by Lessee for breach of warranty or other representations with
respect to the Equipment.
         (g) Lessor makes no representation or warranty as to the treatment of
this Master Lease or any Equipment Schedule for tax or accounting purposes or
otherwise.
         (h) Lessee hereby waives its rights and remedies under the Uniform
Commercial Code Section 2A-508 through 2A-522 with respect to Lessee's right to
cancel any Equipment Schedule, reject any of the Equipment, recover damages or
any other rights and remedies provided thereunder in connection with any default
by Lessor or any other circumstances therein provided.
6.  TITLE AND ASSIGNMENT.
         (a) Nothing contained in this Master Lease, or in any Equipment
Schedule, shall give or convey to Lessee any right, title or interest in or to
the Equipment, or any additions, upgrades, accessions, or improvements thereto,
except as a Lessee as set forth in this Master Lease and such Equipment
Schedule, and Lessee represents and agrees that Lessee shall hold the Equipment
subject and subordinate to the rights of the owner thereof. The Equipment is and
at all times shall remain the property of Lessor (or Lessor's successor in
interest), and except as expressly set forth in this Master Lease or any
Equipment Schedule, Lessee shall have no right, title, equity or interest in the
Equipment and no right or option to purchase or otherwise acquire title to or
ownership of the Equipment. Lessee shall, at Lessee's sole cost and expense: (i)
defend and protect the ownership of, title to, and interest in the Equipment of
Lessor, Lessor's successors in interest, and any assignee or secured party,
against all parties claiming against or through Lessee; (ii) keep the Equipment
free and clear from any legal process, liens, claims, demands and encumbrances
(except those incurred by Lessor); and (iii) give Lessor prompt written notice
of any legal process, liens, claims, demands and encumbrances made by any party
(except Lessor) with respect to the Equipment. Lessee shall, and Lessor may on
behalf of Lessee, at Lessee's expense, execute and file such financing
statements, applications for registration and other documentation as Lessor
shall require for the purpose of protecting or perfecting the interest of
Lessor, or any assignee, transferee or secured party, in the Equipment.
         (b) Lessee shall, at Lessee's expense, affix to the Equipment such
labels, signs or other devices as Lessor may supply to identify Lessor as the
owner and Lessor of the Equipment. Lessee authorizes Lessor to insert in any
Equipment Schedule and in any financing statement or other documents the serial
numbers and other identification data of the Equipment when determined by
Lessor. The Equipment is and at all times shall remain personal property
regardless of any attachment or affixation of the Equipment to any real property
or improvements thereon.
         (c) LESSEE SHALL NOT, WITHOUT LESSOR'S PRIOR WRITTEN CONSENT, (i)
ASSIGN THIS MASTER LEASE OR ANY EQUIPMENT SCHEDULE OR ANY INTEREST HEREIN OR
THEREIN, (ii) ENTER INTO ANY SUBLEASE, LOAN OR SIMILAR ARRANGEMENT WITH RESPECT
TO THE EQUIPMENT, OR (iii) TRANSFER, ASSIGN, CONVEY, ENCUMBER, PLEDGE OR
OTHERWISE DISPOSE OF ANY EQUIPMENT OR ANY INTEREST THEREIN; AND ANY ATTEMPT BY
LESSEE TO DO ANY OF THE FOREGOING WITHOUT LESSOR'S PRIOR WRITTEN CONSENT SHALL
BE VOID.
         (d) Lessee shall keep, maintain and use the Equipment only at the place
designated on the Equipment Schedule, and shall not move the Equipment to any
other location without the Lessor's prior written consent.
         (e) This Master Lease and any rights of Lessor hereunder and under any
Equipment Schedule shall be assignable by Lessor without notice to or the
consent of Lessee. Lessee acknowledges and understands that the terms and
conditions of each Equipment Schedule have been fixed by Lessor in anticipation
of Lessor's ability to sell and assign its interest or grant a security interest
under each Equipment Schedule and the Equipment listed therein in whole or in
part to a security assignee (the "Secured Party") for the purpose of either
assigning: (i) Lessee's obligation to pay rent pursuant to such Equipment
Schedule (Lessor having transferred the right to receive such rent to the
Secured Party), or (ii) securing a loan to Lessor. Lessor may also sell and
assign its rights as owner and lessor of the Equipment under any Equipment
Schedule to an assignee (the "Assignee") which may be represented by a bank or a
trust company acting as a trustee (the "Owner Trustee") for the Assignee. After
such assignments the term Lessor shall mean, as the case may be, such Assignee
or Owner Trustee and any Secured Party (collectively "Lessor Transferee").
Lessee acknowledges and agrees that:
   (1) Any such Lessor Transferee shall have and be entitled to exercise any and
       all discretion, rights and powers of Lessor hereunder or under any
       Equipment Schedule, but such Lessor Transferee shall not be obligated to
       perform any of Lessor's obligations hereunder or under any Equipment
       Schedule; provided, however, that such Lessor Transferee shall not
       disturb Lessee's quiet and peaceful possession of the Equipment and use
       thereof for its intended purpose during the terms hereof so long as
       Lessee is not in default of any provision hereof and such Lessor
       Transferee continues to timely receive all amounts of [illegible] payable
       under such Equipment Schedule;
   (2) Lessee will pay all rent and any and all other amounts payable by Lessee
       under any Equipment Schedule to such Lessor Transferee, notwithstanding
       and Lessee hereby waivers any defense or claim of whatever nature,
       whether by reason of breach of such Equipment Schedule or otherwise,
       which Lessee may or might now or hereafter have as against Lessor or any
       prior Lessor Transferee (Lessee reserving its right to have recourse
       directly against Lessor on account of any such defense or claim); and
   (3) Subject to and without impairment of Lessee's leasehold rights in and to
       the Equipment, Lessee holds the Equipment for such Lessor Transferee to
       the extent of such Lessor Transferee's rights therein.
7.  NET LEASE, TAXES AND FEES.
         (a) Lessor and Lessee acknowledge and agree that each Equipment
Schedule constitutes a net lease and that Lessee's obligation to pay all rent
and any and all amounts payable by Lessee under any Equipment Schedule shall be
absolute and unconditional, and shall not be subject to any abatement,
reduction, setoff, defense, counterclaim, interruption, deferment or recoupment
for any reason whatsoever; and that such payments shall be and continue to be
payable in all events.
         (b) Lessee shall, at Lessee's sole cost and expense and in addition to
the rent due under any Equipment Schedule, promptly pay all taxes, assessments,
license fees, permit fees, registration fees, fines, interest, penalties and all
other governmental charges (including without limitation income, gross receipts,
sales, use, excise, personal property, ad valorem, stamp, documentary and other
taxes), whether levied, assessed or imposed on Lessee, Lessor, the Equipment or
otherwise, relating to the Equipment or the delivery, leasing, operations,
ownership, possession, purchase, registration rental, sales or use thereof
during the term of any Equipment Schedule, or the interest of Lessee in the
Equipment or under any Equipment Schedule, or the rental or other payments
thereunder or earnings arising therefrom (excepting only taxes on Lessor's net
income). Lessee shall file all returns required in connection therewith and
shall promptly furnish copies to Lessor. Lessee shall reimburse Lessor for any
such taxes paid by Lessor within ten (10) days of receipt of Lessor's invoice
therefor. Any applicable sales tax will be paid to the manufacturer,
manufacturer's agent, supplier, dealer or appropriate taxing agency by Lessor.
Where applicable, Lessee acknowledges that such tax may have been included in
calculating lease payment.
8.       CARE, USE, MAINTENANCE AND REPAIR, AND INSPECTION BY LESSOR.
         (a) Lessee shall, at Lessee's sole expense, at all times during the
term of such Equipment Schedule and until return of the Equipment to Lessor, (i)
maintain the Equipment in good operating order, repair, condition, appearance
and protect the Equipment from deterioration, and provide all accessories,
upgrades, repairs, replacement parts and service required therefor; (ii) enter
into and maintain a maintenance contract with the manufacturer of the Equipment
or, with the prior written consent of Lessor, with such other party as shall be
acceptable to Lessor, and shall provide Lessor with a copy of such contract and
all supplements thereto; (iii) use the Equipment in a careful, proper and lawful
manner in accordance with standards, specifications or instructions issued by
the manufacturer, and provide necessary site preparation, supplies, energy and
personnel; (iv) comply with all of the laws, ordinances, rules, regulations and
other requirements relating to the installation, possession, use or maintenance
of the Equipment, including the requirements of any applicable insurance policy
or warranty; (v) obtain and comply with the requirements of all

<Page>

permits, licenses and agreements relating to the installation, possession,
use or maintenance of the Equipment; and (vi) purchase, or permit Lessor to
purchase, any and all additions, improvements, upgrades (as and when any
upgrades may become available) and maintenance contracts associated with such
upgrades, or accessions to any of the Equipment which Lessor may permit or
require Lessee to acquire or which Lessor may, at its option, elect to
acquire, with the cost of any and all such additions, improvements, upgrades,
maintenance contracts or accessions to be treated as additional original
equipment cost with respect to the applicable items of Equipment and which
additional cost shall be amortized as additional rental payments by
increasing the monthly rental amount payable under Section 3 hereof by the
amount corresponding to the amount which would be payable as monthly rent
hereunder as if such additional cost constituted a portion of the original
equipment cost of the applicable Equipment for Equipment to be leased under
the applicable Equipment Schedule for a term equal to the remaining lease
term of the applicable Equipment Schedule.
         (b) Unless Lessor otherwise consents in writing, Lessee shall not: (i)
part with possession of or control over the Equipment; (ii) permit any party
other than Lessee and Lessee's qualified employees to operate the Equipment;
(iii) permit any nonqualified party to repair or service the Equipment; (iv)
permit the Equipment to be used for personal, family, household or agricultural
purposes; or (v) make any additions, alterations or improvements to the
Equipment other than as required or permitted by the terms of this Master Lease.
All repairs, replacement parts, alterations, additions, improvements, upgrades
and accessions to any of the Equipment, whether or not any of the foregoing was
authorized, required, financed or purchased by Lessor, shall become the property
of Lessor.
         (c) Upon the request of Lessor, Lessee shall at reasonable times during
business hours make the Equipment available to Lessor for inspection at the
place where it is normally located and shall make Lessee's log and maintenance
records pertaining to the Equipment available to Lessor for inspection.
9. LESSEE'S REPRESENTATIONS AND WARRANTIES.
         Lessee hereby represents, warrants and agrees that, with respect to
this Master Lease and each Equipment Schedule:
         (a) The execution, delivery and performance thereof by Lessee have been
duly authorized by all necessary corporate or partnership action.
         (b) Each individual executing such was duly authorized to do so.
         (c) This Master Lease and each Equipment Schedule constitute legal,
valid and binding agreements of Lessee enforceable in accordance with their
terms.
         (d) The Equipment is personal property and when subjected to use by
Lessee will not become fixtures under applicable law.
         (e) During the lease term, Lessee shall deliver and shall cause all
obligators, guarantors and parties whose contracts with Lessee are used as
additional collateral under this Master Lease to deliver to Lessor audited or
reviewed financial statements for each of such party's most recent fiscal years
ended, tax returns and unaudited financial statements certified by such party
for the most recent quarter ended, consisting of at least a balance sheet,
income statements and statements of changes in financial position, and any other
information requested by Lessor from time to time, prepared in accordance with
generally accepted accounting principles.
         (f) Lessee shall provide any and all monthly operating statistics or
data and shall use its best efforts to obtain from any party benefiting from the
use of the Equipment through services provided by the Lessee any and all
operating statistics, data, or information requested by Lessor from time to
time.
         (g) The execution, delivery and performance of this Master Lease and
each Equipment Schedule will not violate any law or regulation applicable to
Lessee, or cause a default under any agreement to which Lessee is a party or is
subject.
10.  DELIVERY AND RETURN OF EQUIPMENT.
         Lessee hereby assumes the full expense of transportation and in-transit
insurance to Lessee's premises and installation thereat of the Equipment. Upon
termination (by expiration or otherwise) of each Equipment Schedule, Lessee
shall, pursuant to Lessor's instructions and at Lessee's expense (including
without limitation expenses of transportation and in-transit insurance), return
the Equipment to Lessor in the same operating order, repair, condition and
appearance as when received, less normal depreciation and wear and tear. Lessee
shall have the Equipment deinstalled and removed from its location only by the
manufacturer of the Equipment, or by such other party as shall have been
previously approved in writing by Lessor. The manufacturer or such other
preapproved party shall certify in writing to Lessor at the time of such
deinstallation that the Equipment includes all appropriate or required upgrades
and that it is in good working order. Lessee shall transport the Equipment by
means and return the Equipment to Lessor at such address all as shall be
directed by Lessor. Lessee shall bear all costs of deinstallation, removal and
return of the Equipment, including all costs as may be incurred by Lessee or
Lessor to acquire the upgrades required under the terms of this Master Lease, to
service and repair the Equipment and to otherwise put the Equipment in the
condition required under this Section 10.
11.  INSURANCE.
         During the term hereof and until return of the Equipment to Lessor,
Lessee shall, at Lessee's expense: (i) maintain insurance covering damage,
destruction, loss or theft of the Equipment from any cause whatsoever for not
less than an amount equal to the greater of the replacement value or the amount
calculated pursuant to clause (vi) of Section 15(b) hereof; (ii) maintain public
liability (including liability with respect to the use of the Equipment),
professional liability insurance (covering Lessee and its employees and any and
all other parties as may have possession of or as may operate any of the
Equipment), and property damage insurance in an amount satisfactory to Lessor;
(iii) maintain, if applicable as determined in the sole discretion of Lessor,
business interruption and automobile insurance (where the Equipment constitutes
mobile magnetic resonance imaging equipment or other mobile equipment); and (iv)
promptly notify Lessor of any actual or alleged damage, destruction, liability,
loss or theft relating to the Equipment or the use or operation thereof. All
insurance shall be in form, substance and amount satisfactory to Lessor and/or
Lessor's Transferee, shall contain a lender's form endorsement with waiver of
breach of warranty clause (form 438-BFU or its equivalent), and shall be issued
by insurers acceptable to Lessor, and shall name Lessor or any Lessor Transferee
as loss payee with respect to all policies of property insurance and as an
additional insured with respect to all other policies of insurance. Lessee shall
obtain endorsements to all such policies of insurance which shall provide that
any amendment or cancellation of any such policy shall not be effective unless
Lessor shall have been given thirty (30) days' prior written notice of any such
intended amendment or cancellation. Self-insurance is unacceptable unless Lessor
shall so provide upon its prior written consent. Lessee shall deliver to Lessor
originals or certified copies of such policies, certificates of coverage
thereunder and loss payee, additional insured, [illegible] notice of amendment
or cancellation endorsements. In addition, as collateral security for Lessee's
obligations hereunder, and under the Equipment Schedules, Lessee hereby assigns,
transfers and conveys to Lessor all of Lessee's right, title and interest in and
to all of the foregoing policies of insurance and the insurance coverage
provided thereunder and Lessee shall deliver and cause each insurer under each
of such policies of insurance to deliver to Lessor assignments of such policies
and coverage with assignments shall be in form and substance satisfactory to
Lessor.
12.  RISK OF LOSS.
         During the term of each Equipment Schedule, and until return of the
Equipment to Lessor, Lessee shall bear all risk of damage, destruction, loss or
theft of the Equipment from any cause whatsoever. No damage, destruction, loss
or theft of the Equipment or delay in payment or deficiency or absence of
insurance proceeds, and no unavailability or delay in obtaining supplies, parts
or service for the Equipment or failure of the Equipment to function for any
cause whatsoever, and no change in laws or regulations governing or restricting
the use of the Equipment (including the future enactment of any laws or
regulations prohibiting the use of the Equipment), shall release Lessee of the
obligation to pay rent or any other obligation hereunder. Upon the occurrence of
any reparable damage, Lessee shall promptly make such repairs and restore the
Equipment to good repair, condition and working order. Upon the occurrence of
any irreparable damage, destruction for loss of the Equipment, Lessee shall, at
Lessor's option: (i) replace the Equipment with like equipment in good repair,
condition and working order with documentation creating clear title thereto in
Lessor; or (ii) pay Lessor the amounts required under Section 15 of this Master
Lease to the same extent as though a default had occurred hereunder. Subject to
such conditions as Lessor may require, any insurance proceeds paid to Lessor as
a result of any damage, destruction, loss or theft of the Equipment shall be
applied to Lessee's obligations hereunder, provided that if the Equipment is not
repaired or replaced as provided above, such insurance proceeds shall be applied
first to Lessor's expected residual interest in the Equipment. Lessor shall have
no obligation to collect or pursue any claim arising from any damage,
destruction, loss or theft of the Equipment, including any claim under any
applicable insurance policy.
13.   INDEMNITY.
         Lessee shall, at Lessee's sole cost and expense, indemnify, hold
harmless and defend Lessor and its agents, employees, officers and directors,
and its successors in interest from and against any and all claims, actions,
suits, proceedings, costs, expenses, damages and liabilities, including
attorney's fees, arising out of, connected with, resulting from or relating to
the Equipment or the condition, delivery, leasing, location, maintenance,
manufacture, operation, ownership, possession, purchase, repair, repossession,
return, sale, selection, service or use thereof, including without limitation:
(i) claims involving latent or other defects (whether or not discoverable by
Lessee or Lessor), (ii) claims for trademark, patent or copyright infringement,
and (iii) claims for injury or death to persons or damage to property or loss of
business or anticipatory profits, whether resulting from acts or omissions of
Lessee or Lessor or otherwise.

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Lessee shall give Lessor prompt written notice of any claim or liability
covered by this section. The indemnities under this section shall survive the
satisfaction of all other obligations of Lessee herein and the termination of
this Master Lease or any Equipment Schedule.
14.  SECURITY DEPOSIT.
         For the purpose of securing all of Lessee's obligations under this
Master Lease and each Equipment Schedule, Lessee grants Lessor a security
interest in any security deposit described in any Equipment Schedule. Any such
security deposit may be commingled with other funds and shall be held without
interest to Lessee. Upon default under this Master Lease or any Equipment
Schedule, Lessor may, but shall not be obligated to, apply any such security
deposit to any obligation of Lessee under this Master Lease or any Equipment
Schedule, in which event Lessee shall promptly restore the amount thereof on
demand. Upon compliance by Lessee with all terms of this Master Lease and each
Equipment Schedule Lessor shall, at the end of the term of each Equipment
Schedule and the return of the Equipment to Lessor as provided herein, refund to
Lessee the balance of any security deposit pertaining to such Equipment
Schedule.
15.  DEFAULT AND REMEDIES.
         (a) The occurrences of any one or more of the following events ("Events
of Default") shall constitute a default under this Master Lease and any
Equipment Schedule: (i) Lessee's failure to pay rent or any other amount
required under an Equipment Schedule when due; (ii) Lessee's failure to perform
any other obligation or observe any other term of this Master Lease or any
Equipment Schedule; (iii) any representation or warranty made to Lessor by
Lessee or by any guarantor proves to have been false in any material respect
when made; (iv) Lessee or any guarantor suffers a material adverse change in its
financial condition; (v) an event of default shall have occurred under and be
continuing under any other agreement involving the borrowing of money by Lessee
or any guarantor; (vi) levy, seizure or attachment of any Equipment; (vii)
commencement of proceedings under any bankruptcy, arrangement, reorganization or
insolvency law by or against, or appointment of a receiver or liquidator for any
property of, Lessee or any guarantor; (viii) any failure by Lessee or any direct
or indirect subsidiary or affiliate of Lessee, or any direct or indirect owner
or party controlling, directly or indirectly, Lessee or any direct or indirect
subsidiary or affiliate of Lessee, to perform any obligation under any agreement
between Lessee or any such subsidiary; affiliate, owner or controlling party on
the one hand, and Lessor, any Lessor Transferee, or any direct or indirect
subsidiary or affiliate of Lessor or any Lessor Transferee, on the other hand,
which agreement shall include, without limitation, any master lease, any
equipment schedule, any promissory note or other debt obligation of Lessee to
Lessor; or (ix) assignment for the benefit of creditors or bulk transfer of
assets by, or insolvency, cessation of business, termination of existence, death
or dissolution of Lessee or any guarantor. As used in this Master Lease, the
term "guarantor" shall include an guarantor of this Master Lease or any
Equipment Schedule, and any owner of any property given as security for Lessee's
obligations hereunder or thereunder.
         (b) Upon the occurrence of any one or more Events of Default, Lessor
may exercise any one or more of the following remedies without demand or notice
to Lessee and without terminating or otherwise affecting Lessee's obligations
hereunder: (i) declare the entire balance of rent for the remaining term of this
Lease to be immediately due and payable; (ii) require Lessee to assemble the
Equipment and make it available to Lessor at a place designated by Lessor; (iii)
take and hold possession of the Equipment and render the Equipment unusable, and
for this purpose enter and remove the Equipment from any premises where the same
may be located without liability to Lessor for any damage caused thereby; (iv)
sell or lease the Equipment or any part thereof at public private sale for cash,
on credit or otherwise, with or without representations or warranties, and upon
such terms as shall be acceptable to Lessor; (v) use and occupy the premises of
Lessee for the purpose of taking, holding, reconditioning, displaying, selling
or leasing the Equipment, without cost to Lessor or liability to Lessor; (vi)
demand, sue for and recover from Lessee the sum of (A) all rent and other
amounts due hereunder, plus, as liquidated damages for loss of a bargain and not
as a penalty, and in lieu of any further payments of rent for the Equipment, an
amount equal to Lessor's Return for such Equipment ("Lessor's Return" shall mean
if the applicable Equipment Schedule provides for Stipulated Loss Values, the
applicable Stipulated Loss Value, and, otherwise, the present value, discounted
at five percent (5%), of all unpaid rent payments to become due during the
remaining lease term; (B) all late charges provided in this Master Lease or any
Equipment Schedule; (C) all expenses, including attorney's fees, of Lessor or
any Lessor Transferee incurred in enforcing any of their rights under this
Master Lease or any Equipment Schedule, including the taking, holding,
reconditioning, preparing for sale or lease, and selling or leasing of the
Equipment; (D) all other expenses, including attorney's fees, incurred by Lessor
or any Lessor Transferee incurred in enforcing any of their rights under this
Master Lease or any Equipment Schedule and including any and all damages to real
property arising from the removal of any of the Equipment, and in the event any
party holding an interest in any real property upon which any of the Equipment
is located shall demand a security deposit in connection with any such removal,
Lessee shall deliver and provide such deposit; (E) any actual or anticipated
loss in tax benefits to Lessor (as determined by Lessor) resulting from the
default or Lessor's repossession or disposition of the Equipment; and (F) any
other amounts payable by Lessee to Lessor under this Master Lease or any
Equipment Schedule or damages suffered by Lessor not otherwise compensated
herein including, without limitation, damages arising from Lessee's failure to
maintain the Equipment as provided herein. Any sale or lease of the Equipment by
Lessor after default shall be free and clear of any interest of Lessee.
         (c) The rights and remedies of Lessor hereunder are in addition to all
other rights and remedies provided by law. All of Lessor's rights and remedies
are cumulative and not exclusive, and may be exercised separately or
concurrently and in such order and manner as Lessor may determine. The exercise
of any one remedy shall not be deemed to be an election of such remedy or to
preclude the exercise of any other remedy. No default by Lessee or action by
Lessor shall result in a termination of this Master Lease or any Equipment
Schedule unless Lessor so notifies Lessee in writing, and no termination of this
Master Lease or any Equipment Schedule shall release or impair any of Lessee's
obligations hereunder or thereunder.
16.   PURCHASE OPTION
         Notwithstanding anything to the contrary in the Master Lease and
Equipment Schedule, Lessor and Lessee hereby agree, provided no default has
occurred and is continuing under the Master Lease, at the end of the Equipment
Schedule term, Lessor will sell all, but not part of, the Equipment listed on
the Equipment Schedule AS IS WHERE IS and transfer title to Lessee for the
consideration of One Hundred and One Dollar (101.00) and will execute such
documentation as necessary to effect such transfer of title to the extent title
was conveyed to Lessor. Any instrument of transfer shall contain the following:
THE EQUIPMENT TRANSFERRED HEREBY IS TRANSFERRED "AS IS" AND "WHERE IS". THE
SELLER MAKES NO EXPRESS OR IMPLIED WARRANTIES OR REPRESENTATIONS OF ANY KIND
WHATSOEVER IN REGARD TO SUCH EQUIPMENT. THE SELLER HEREBY DISCLAIMS ANY AND ALL
REPRESENTATIONS AND WARRANTIES IN REGARD TO SUCH EQUIPMENT, INCLUDING, WITHOUT
LIMITATION, THOSE OF MERCHANTABILITY OR FITNESS FOR USE OR FITNESS FOR ANY
PARTICULAR USE, OR OF QUALIFY, DESIGN, CONDITION, CAPACITY, SUITABILITY OR
PERFORMANCE.
17.   COST AND EXPENSES
         Lessee shall pay to Lessor, on demand, all costs and expenses incurred
by Lessor in connection with the execution, delivery, administration and
enforcement of this Master Lease, any Equipment Schedule, the transactions
contemplated hereby and thereby, and any costs and expenses related hereto or
thereto, including without limitation filing fees, registration fees, attorney's
fees and other out-of-pocket expenses.
18.   PERFORMANCE BY LESSOR
         If Lessee shall fail to perform any obligations under this Master Lease
or any Equipment Schedule, Lessor shall have the right, but shall not be
obligated, with or without prior notice to Lessee, to perform the same (or, in
the case of Lessee's failure to maintain insurance, Lessor may obtain insurance
protecting the interest of Lessor only), and the costs thereof, together with
interest at the lesser of eighteen percent (18%) per year or the highest lawful
rate, shall be immediately payable by Lessee as additional rent for the
Equipment.
19.   FURTHER ASSURANCES
         Lessee shall, at its sole cost and expense, execute and deliver such
financial statements, certificates of title and other related documents and take
such action as Lessor or any Lessor Transferee may from time to time request for
the purpose of continuing and assuring the rights intended to be created by this
Lease or any Equipment Schedule, including without limitation, any
redocumentation of errors and omissions of this Master Lease and any Equipment
Schedule required by any Lessor Transferee or other successor to any interest of
Lessor.
20.   NOTICES
         All notices, demands, requests and other communications under this
Master Lease and any Equipment Schedule: (a) shall be in writing; (b) shall be
delivered personally or by first class mail addressed to the party at its
respective address set forth herein or such other address as such party may
designate from time to time in writing; and (c) shall be effective when
personally delivered or deposited in the United States mail, duly addressed with
postage prepaid.
21. LAW GOVERNING - JURISDICTION, WAIVER OF JURY TRIAL. LESSEE WARRANTS,
REPRESENTS AND AGREES THAT: (a) THIS MASTER LEASE AND ANY EQUIPMENT SCHEDULE
HAVE BEEN MADE AND ENTERED INTO AS PENNSYLVANIA TRANSACTIONS; (b) THE MASTER
LEASE AND ANY EQUIPMENT SCHEDULE SHALL

<Page>

BE CONSTRUED, INTERPRETED, GOVERNED AND ENFORCED UNDER AND IN ACCORDANCE WITH
THE SUBSTANTIVE LAWS (WITHOUT REGARD TO THE PRINCIPLES OF CONFLICT OF LAWS)
OF PENNSYLVANIA; (c) JURISDICTION TO HEAR AND DECIDE ANY CASE OR CONTROVERSY
ARISING OUT OF, OR TO ENFORCE OR CONSTRUE, THIS MASTER LEASE OR ANY EQUIPMENT
SCHEDULE, SHALL EXCLUSIVELY RESIDE AND VEST IN THE UNITED STATES DISTRICT
COURT FOR THE EASTERN DISTRICT OF PENNSYLVANIA, OR IN THE COURTS OF THE
COMMONWEALTH OF PENNSYLVANIA SITTING IN BUCKS COUNTY; AND (d) THIS SECTION 21
MAY BE ENFORCED BY INJUNCTION, SPECIFIC PERFORMANCE OR ANY OTHER
EXTRAORDINARY OR EQUITABLE REMEDY. LESSOR AND LESSEE HEREBY WAIVE THE RIGHT
TO TRAIL BY JURY OR ANY MATTERS ARISING OUT OF THIS LEASE OR THE CONDUCT OF
THE RELATIONSHIP BETWEEN LESSOR AND LESSEE.
22.   MISCELLANEOUS.
         This Master Lease, any Equipment Schedule, and any other documents
executed herewith or therewith constitute the entire agreement with respect to
the subject matter hereof. No oral agreement, representation or warranty shall
be binding. Any provision of this Master Lease which is invalid or unenforceable
under applicable law shall not affect the remaining provisions hereof, and to
this end the provisions hereof are declared to be serverable. Section headings
are for convenience of reference only, and shall not affect the interpretation
hereof. If more than one Lessee is named herein, the liability of each shall be
joint and several. Where appropriate and the context permits, the singular shall
include the plural and vice versa. Upon assignment of this Master Lease or any
Equipment Schedule or Equipment (or any part hereof or thereof or any interest
herein or therein) by Lessor, the term "Lessor" shall include the Assignee.
Lessee waives notice and acceptance of this Master Lease and any Equipment
Schedule by Lessor. Time is of the essence of this Master Lease and any
Equipment Schedule.
23.   WAIVER AND AMENDMENT
         No waiver or amendment of this Master Lease or any Equipment Schedule,
or any provision hereof or thereof, shall be effective unless in writing signed
by Lessor. No delay or failure to exercise any right, power or remedy accruing
to Lessor upon any default of Lessee shall impair any such right, power and
remedy, nor shall it be construed as a waiver of any such default, or an
acquiescence therein, or in any similar default thereafter occurring, nor shall
any waiver of any single default be deemed a waiver of any other default
theretofore or thereafter occurring. Any waiver, permit, consent or approval of
any kind or character on the part of Lessor must be in writing and shall be
effectively only to the extent specifically set forth therein.

LESSEE INITIAL    /s/ illegible

THIS MASTER LEASE, AND ANY EQUIPMENT SCHEDULE, ARE SUBJECT TO THE TERMS AND
CONDITIONS SET FORTH HEREIN.
           LESSEE ACKNOWLEDGES RECEIPT OF A COPY OF THIS MASTER LEASE
THIS MASTER LEASE, AND ANY EQUIPMENT SCHEDULE, SHALL BECOME EFFECTIVE ONLY UPON
WRITTEN ACCEPTANCE BY LESSOR.

LESSOR:                                      LESSEE:
DVI FINANCIAL SERVICES INC.                  DIGIRAD IMAGING SOLUTIONS, INC.

By:      /s/ Mark J. Gallagher              By:     /s/ Gary Atkinson
      ---------------------------               -----------------------------
Name:    Mark J. Gallagher                  Name:    Gary Atkinson
      ---------------------------               -----------------------------
Title:   Director of Credit                 Title:  CFO
      ---------------------------               -----------------------------

NO SECURITY INTEREST IN AN EQUIPMENT SCHEDULE MAY BE CREATED THROUGH THE
TRANSFER OR POSSESSION OF ANY COUNTERPART OF THE ORIGINAL EQUIPMENT SCHEDULE
OTHER THAN THE EQUIPMENT SCHEDULE MARKED "SECURITY PARTY'S ORIGINAL" AND A
CERTIFIED COPY OF THE MASTER AGREEMENT.

DVI: Mastlse.csa           (11/99)

THIS CONTRACT (AND EQUIPMENT SCHEDULE AND MASTER LEASE THE TERMS OF WHICH IT
INCORPORATES) HAS BEEN ASSIGNED TO, IS SUBJECT TO THE SECURITY INTEREST OF AND
IS HELD IN TRUST FOR THE BENEFIT OF FLEET BANK N.A., AS AGENT, PURSUANT TO THE
TERMS AND CONDITIONS OF A SECURITY AGREEMENT DATED JUNE 14, 1991 AND RELATED
DOCUMENTS, AS AMENDED FROM TIME TO TIME.

CERTIFIED TO BE A TRUE AND CORRECT
DOCUMENT AS SUBMITTED TO
DVI FINANCIAL SERVICES, INC.
BY:      /s/ illegible
   --------------------------------
DATE:    6/25/01
   --------------------------------

<Page>

                                                             Fully Executed Copy
                           EQUIPMENT SCHEDULE NO. 001
                                       TO
                         MASTER EQUIPMENT LEASE NO. 2982
                                ("MASTER LEASE")

LESSOR:                             DVI Financial Services Inc.

LESSEE:                             Digirad Imaging Solutions, Inc.

DATE OF MASTER LEASE:               May 24, 2001

DATE OF EQUIPMENT SCHEDULE:         May 24, 2001

LEASE TERM:                                 60 Months

COMMENCEMENT DATE:

RENT COMMENCEMENT DATE:

MONTHLY RENT:                       $6,965.02

IN THE EVENT THERE IS AN INCREASE IN THE THIRTY-ONE (31) MONTH TREASURY NOTE
RATE FROM THE RATE QUOTED IN THE PROPOSAL/COMMITMENT LETTER TO THE RATE IN
EFFECT ON THE DATE THE SCHEDULE FUNDS, THEN LESSOR RESERVES THE RIGHT TO ADJUST
THE MONTHLY RENT SET FORTH IN THE SCHEDULE BY INCREASING THE MONTHLY RENT BY
THAT SAME RATE OF INCREASE.

SALES/USE TAX:                      Sales tax to be paid on the stream

ADVANCE PAYMENTS:          N/A

EQUIPMENT:
REFER TO THE ATTACHED EXHIBIT "A" WHICH BY THIS REFERENCE IS MADE A PART HEROF,
TOGETHER WITH ALL PARTS, ACCESSORIES, ATTACHMENTS, ACCESSIONS, ADDITIONS,
REPLACEMENTS, AND SUBSTITUTIONS THERETO AND THEREFOR.

EQUIPMENT LOCATION:                 Mobile Unit services contract in Florida

MASTER LEASE:
This Equipment Schedule is issued pursuant to the Master Lease. All of terms,
conditions representations and warranties of the Master Lease are hereby
incorporated by reference herein and made a part hereof as if they were
expressly set forth in this Equipment Schedule and this Equipment Schedule
constitutes a separate lease with respect to the Equipment described herein. The
parties hereby reaffirm all of the terms, conditions, representations and
warranties of the Master Lease except as modified herein, by their execution and
delivery of this Equipment Schedule.

DVI FINANCIAL SERVICES INC.                  DIGIRAD IMAGING SOLUTIONS, INC.
(Lessor)                                     (Lessee)

By:      /s/ Mark Gallgher                   By:      /s/ Gary Atkinson
   --------------------------------             ------------------------------
Title:   Director of Credit                  Title:   CFO
   --------------------------------             ------------------------------
         Mark J. Gallagher                          Gary Atkinson
   --------------------------------             ------------------------------
   (Print Name)                                 (Print Name)

THIS CONTRACT (AND EQUIPMENT SCHEDULE AND MASTER LEASE THE TERMS OF WHICH IT
INCORPORATES) HAS BEEN ASSIGNED TO, IS SUBJECT TO THE SECURITY INTEREST OF AND
IS HELD IN TRUST FOR THE BENEFIT OF FLEET BANK N.A., AS AGENT, PURSUANT TO THE
TERMS AND CONDITIONS OF A SECURITY AGREEMENT DATED JUNE 14, 1991 AND RELATED
DOCUMENTS, AS AMENDED FROM TIME
TO TIME.                                               SECURED PARTY'S ORIGINAL

<Page>

                                   EXHIBIT "A"

EQUIPMENT:
One (1) Mobile Nuclear System, one (1) Ford E250 Van, vin # 1FTNS24LOYHBS6424,
one (1) Digirad 2020tc Gamma Camera, SN100, one (1) Digirad SPECTour Chair,
SN116 and one (1) Van Modification Ability Center.

CONTRACT RIGHTS:
Mobile Imaging Service Agreement by and between Orion Imaging Systems, Inc.
("Orion") and Dr. Blanca Luna dated February 22, 2001.

<Page>

                                                             Fully Executed Copy
                           EQUIPMENT SCHEDULE NO. 002
                                       TO
                         MASTER EQUIPMENT LEASE NO. 2982
                                ("MASTER LEASE")

LESSOR:                             DVI Financial Services Inc.

LESSEE:                             Digirad Imaging Solutions, Inc.

DATE OF MASTER LEASE:               May 24, 2001

DATE OF EQUIPMENT SCHEDULE:         May 30, 2001

LEASE TERM:                                 60 Months

COMMENCEMENT DATE:

RENT COMMENCEMENT DATE:

MONTHLY RENT:                       $6,965.02

IN THE EVENT THERE IS AN INCREASE IN THE THIRTY-ONE (31) MONTH TREASURY NOTE
RATE FROM THE RATE QUOTED IN THE PROPOSAL/COMMITMENT LETTER TO THE RATE IN
EFFECT ON THE DATE THE SCHEDULE FUNDS, THEN LESSOR RESERVES THE RIGHT TO ADJUST
THE MONTHLY RENT SET FORTH IN THE SCHEDULE BY INCREASING THE MONTHLY RENT BY
THAT SAME RATE OF INCREASE.

SALES/USE TAX:                      Sales tax to be paid on the stream

ADVANCE PAYMENTS:          N/A

EQUIPMENT:
REFER TO THE ATTACHED EXHIBIT "A" WHICH BY THIS REFERENCE IS MADE A PART HEROF,
TOGETHER WITH ALL PARTS, ACCESSORIES, ATTACHMENTS, ACCESSIONS, ADDITIONS,
REPLACEMENTS, AND SUBSTITUTIONS THERETO AND THEREFOR.

EQUIPMENT LOCATION:                 Mobile Unit services contract in New Jersey

MASTER LEASE:
This Equipment Schedule is issued pursuant to the Master Lease. All of terms,
conditions representations and warranties of the Master Lease are hereby
incorporated by reference herein and made a part hereof as if they were
expressly set forth in this Equipment Schedule and this Equipment Schedule
constitutes a separate lease with respect to the Equipment described herein. The
parties hereby reaffirm all of the terms, conditions, representations and
warranties of the Master Lease except as modified herein, by their execution and
delivery of this Equipment Schedule.

DVI FINANCIAL SERVICES INC.                  DIGIRAD IMAGING SOLUTIONS, INC.
(Lessor)                                     (Lessee)

By:      /s/ Mark Gallgher                   By:      /s/ Gary Atkinson
   --------------------------------             ------------------------------
Title:   Director of Credit                  Title:   CFO
   --------------------------------             ------------------------------
         Mark J. Gallagher                          Gary Atkinson
   --------------------------------             ------------------------------
   (Print Name)                                 (Print Name)

THIS CONTRACT (AND EQUIPMENT SCHEDULE AND MASTER LEASE THE TERMS OF WHICH IT
INCORPORATES) HAS BEEN ASSIGNED TO, IS SUBJECT TO THE SECURITY INTEREST OF AND
IS HELD IN TRUST FOR THE BENEFIT OF FLEET BANK N.A., AS AGENT, PURSUANT TO THE
TERMS AND CONDITIONS OF A SECURITY AGREEMENT DATED JUNE 14, 1991 AND RELATED
DOCUMENTS, AS AMENDED FROM TIME
TO TIME.                                               SECURED PARTY'S ORIGINAL
                                   EXHIBIT "A"

EQUIPMENT:
One (1) Mobile Nuclear System, one (1) Ford E250 Van, vin # 1FTNS24L1YHB77928,
one (1) Digirad 2020tc Gamma Camera, SN88, one (1) Digirad SPECTour Chair, SN118
and one (1) Van Modification Ability Center.

<Page>

                           EQUIPMENT SCHEDULE NO. 003
                                       TO
                         MASTER EQUIPMENT LEASE NO. 2982
                                ("MASTER LEASE")

LESSOR:                             DVI Financial Services Inc.

LESSEE:                             Digirad Imaging Solutions, Inc.

DATE OF MASTER LEASE:               May 24, 2001

DATE OF EQUIPMENT SCHEDULE:         June 12, 2001

LEASE TERM:                                 60 Months

COMMENCEMENT DATE:

RENT COMMENCEMENT DATE:

MONTHLY RENT:                       $7,010.66

IN THE EVENT THERE IS AN INCREASE IN THE THIRTY-ONE (31) MONTH TREASURY NOTE
RATE FROM THE RATE QUOTED IN THE PROPOSAL/COMMITMENT LETTER TO THE RATE IN
EFFECT ON THE DATE THE SCHEDULE FUNDS, THEN LESSOR RESERVES THE RIGHT TO ADJUST
THE MONTHLY RENT SET FORTH IN THE SCHEDULE BY INCREASING THE MONTHLY RENT BY
THAT SAME RATE OF INCREASE.

SALES/USE TAX:                      Sales tax to be paid on the stream

ADVANCE PAYMENTS:          N/A

EQUIPMENT:
REFER TO THE ATTACHED EXHIBIT "A" WHICH BY THIS REFERENCE IS MADE A PART HEROF,
TOGETHER WITH ALL PARTS, ACCESSORIES, ATTACHMENTS, ACCESSIONS, ADDITIONS,
REPLACEMENTS, AND SUBSTITUTIONS THERETO AND THEREFOR.

EQUIPMENT LOCATION:                 Mobile Unit services contracts in Florida

MASTER LEASE:
This Equipment Schedule is issued pursuant to the Master Lease. All of terms,
conditions representations and warranties of the Master Lease are hereby
incorporated by reference herein and made a part hereof as if they were
expressly set forth in this Equipment Schedule and this Equipment Schedule
constitutes a separate lease with respect to the Equipment described herein. The
parties hereby reaffirm all of the terms, conditions, representations and
warranties of the Master Lease except as modified herein, by their execution and
delivery of this Equipment Schedule.

DVI FINANCIAL SERVICES INC.                  DIGIRAD IMAGING SOLUTIONS, INC.
(Lessor)                                     (Lessee)

By:      /s/ Mark Gallgher                   By:      /s/ Gary Atkinson
   --------------------------------             ------------------------------
Title:   Director of Credit                  Title:   CFO
   --------------------------------             ------------------------------
         Mark J. Gallagher                          Gary Atkinson
   --------------------------------             ------------------------------
   (Print Name)                                 (Print Name)

THIS CONTRACT (AND EQUIPMENT SCHEDULE AND MASTER LEASE THE TERMS OF WHICH IT
INCORPORATES) HAS BEEN ASSIGNED TO, IS SUBJECT TO THE SECURITY INTEREST OF AND
IS HELD IN TRUST FOR THE BENEFIT OF FLEET BANK N.A., AS AGENT, PURSUANT TO THE
TERMS AND CONDITIONS OF A SECURITY AGREEMENT DATED JUNE 14, 1991 AND RELATED
DOCUMENTS, AS AMENDED FROM TIME
TO TIME.                                               SECURED PARTY'S ORIGINAL
                                   EXHIBIT "A"

EQUIPMENT:
One (1) Mobile Nuclear System, one (1) Ford E250 Van, vin # 1FTNS24LX1HA58281,
one (1) Digirad 2020tc Gamma Camera, SN129, one (1) Digirad SPECTour Chair,
SN103 and one (1) Van Modification Ability Center.

<Page>

                    RIDER TO MASTER EQUIPMENT LEASE NO. 2982

         THIS RIDER (the "Rider") dated effective as of May 24, 2001 is entered
into by and between DVI FINANCIAL SERVICES INC. ("LESSOR") and DIGIRAD IMAGING
SOLUTIONS, INC. ("LESSEE").

                                   BACKGROUND

         A.       Lessor and Lessee have entered into that certain Master
Equipment Lease No. 2982 dated May 24,2001 (the "LEASE"), certain Equipment
Schedules attached thereto and other related documents, instruments and
agreements (collectively, the "LEASE DOCUMENTS")

         B.       At Lessee's request, Lessor has agreed to modify the Lease
Documents in accordance with the terms and conditions hereof.

         NOW, THEREFORE, FOR VALUABLE CONSIDERATION, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto, intending to be legally
bound, agree as follows:

         1.       AMENDMENTS. The Lease shall be and is hereby amended as
follows:

                  a)       SECTION 8 (ii) is hereby deleted.

                  b)       SECTION 10 the third sentence is hereby deleted.

                  c)       SECTION 15(b)(iv) is hereby amended and restated as
                           follows "sell or Lease the Equipment or any part
                           thereof at public or private sale for cash, on credit
                           or otherwise, with or without representations or
                           warranties, and upon such commercially reasonable
                           terms as shall be acceptable to Lessor;"

                  d)       SECTION 15(b)(vi)(a) is hereby amended and restated
                           as follows "all rent and other amounts due hereunder,
                           plus, as liquidated damages for loss of a bargain and
                           not as a penalty, and in lieu of any further payments
                           of rent for the Equipment, an amount equal to
                           Lessor's Return for such Equipment ("Lessor's Return"
                           shall mean if the applicable Equipment Schedule
                           provides for Stipulated Loss Values, the applicable
                           Stipulated Loss Value, and, otherwise, the present
                           value, discounted at six and a half percent (6.5%),
                           of all unpaid rent payments to become due during the
                           remaining lease term;"

                  e)       SECTION 15(b)(vi)(e) is hereby amended and restated
                           as follows "any actual or anticipated loss in tax
                           benefits to Lessor (as reasonably determined by
                           Lessor) resulting from the default or Lessor's
                           repossession or disposition of the equipment:"

                  f)       SECTION 16 is hereby amended and restated as follows
                           "at the end of the Equipment Schedule term, Lessor
                           will sell all, but not part of, the Equipment listed
                           on an Equipment Schedule,"

         2.       EFFECT OF RIDER. All terms and conditions of the Lease not
expressly modified hereby shall remain in full force and effect and are hereby
ratified and confirmed by the parties hereto.

         3.       INCONSISTENCIES. To the extent of any inconsistencies between
the terms of this Rider and the Lease, the terms of this Rider shall prevail.

         4.       GOVERNING LAW. This Rider shall be governed by the laws of the
Commonwealth of Pennsylvania (without giving effect to any principles of
conflicts of law).

         IN WITNESS WHEREOF, the parties hereto have executed this Rider
effective as of the date first above written.

DVI FINANCIAL SERVICES INC.                  DIGIRAD IMAGING
SOLUTIONS, INC.
(Lessor)                                     (Lessee)

By:      /s/ Mark Gallgher                   By:      /s/ Gary Atkinson
   --------------------------------             ------------------------------
Name:     Mark J. Gallagher                  Name:    Gary Atkinson
       --------------------------------             --------------------------
Title:   Director of Credit                  Title:   CFO
   --------------------------------             ------------------------------

THIS CONTRACT (AND EQUIPMENT SCHEDULE AND MASTER LEASE THE TERMS OF WHICH IT
INCORPORATES) HAS BEEN ASSIGNED TO, IS SUBJECT TO THE SECURITY INTEREST OF AND
IS HELD IN TRUST FOR THE BENEFIT OF FLEET BANK N.A., AS AGENT, PURSUANT TO THE
TERMS AND CONDITIONS OF A SECURITY AGREEMENT DATED JUNE 14, 1991 AND RELATED
DOCUMENTS, AS AMENDED FROM TIME TO TIME.

CERTIFIED TO BE A TRUE AND CORRECT
DOCUMENT AS SUBMITTED TO
DVI FINANCIAL SERVICES, INC.
BY:      /s/ illegible
    -------------------------------
DATE:    6/25/01
     ------------------------------

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