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<br />date thereof. Lessee shall pay to Lessor a service charge of 8 % of the amount due; provided, however, that not more than one such service
<br />charge shall be made on any delinquent payment, regardless of the length of the delinquency. In addition to the foregoing service charge, Lessee
<br />shall pay to Lessor a $100 default fee with respect to any payment which becomes thirty (30) days past due. In addition, Lessee shall pay to
<br />Lessor any actual additional expenses incurred by Lessor in collection efforts, including but not linlited to long-distance telephone charges and
<br />travel expenses. Lessee shall pay to Lessor interest on any delinquent payment or amount due under this Lease from the due date thereof until
<br />paid, at the lessor of the maxinlUm rate of interest allowed by law or 18% per al1l1um.
<br />20. TIl\-IE OF ESSENCE. Time is of the essence of this Lease, and this provision shall not be impliedly waived by the acceptance on
<br />occasion of late or defective perfonnance.
<br />21. DEFAULT, Lessee shall be in default if:
<br />(a) Lessee shall fail to make any payment due under the terms of this Lease for a period of ten (10) days from the due date thereof; or
<br />(b) Lessee shall fail to observe, keep, or perfonn any provision of this Lease. and such failure shall continue for a period of ten (10) days;
<br />
<br />or
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<br />(c) Lessee has made any misleading or false statement in connection with application for or performance of this Lease; or
<br />(d) The Equipment or any part thereof shall be subject to any lien, levy. seizure, assignment, transfer, bulk transfer. encumbrance,
<br />application, attachment, execution, subkase, or sale without prior written consent of Lessor, or if Lessee shall abandon the Equipment or any
<br />other entity or person to use the Equipment without the prior written consent of Lessor; or
<br />(e) Lessee dies or ceases to exist; or
<br />(f) Lessee defaults on any other agrcement it has with Les:;or; or of dt:fault occ:J. with respect to any guarantor or any such guarantor tiks
<br />or has filed against it a petition under the bankruptcy laws.
<br />22. REl\-1EDIES. If Lessee is in default, Lessor, with or without notice to Lessee, shall have the right to exercise anyone or more of the
<br />following remedies, concurrently or separately, and witllout any election of remedies being deemed to have been made:
<br />(a) Lessor may enter upon Lessee's premises and WitllOut any court order or other process law may repossess and remove the Equipment,
<br />or render the Equipment unusable without removal, either with or without notice to Lessee. Lessee hereby waives any trespass or right of action
<br />for damages by reason of such entry, removal, or disabling. Any such repossession shall not constitute a termination of this Lease unless Lessor
<br />so notifies Lessee in writing;
<br />(b) Lessor may require Lessee, at its expense. to return the Equipment in good repair, ordinary wear and tear resulting from proper use
<br />thereof alone expected, by delivering it. packed and ready for shipment, to such place or carrier as Lessor may specify;
<br />(c) Lessor may cancel or terminate this Lease and may retain any and all prior payments paid by Lessee;
<br />Cd) Lessor may declare all sums due and to become due under this Lease immediately due and payable, including as to any or all items of
<br />Equipment, without notice or demand to Lessee;
<br />(e) Lessor may re-lease the Equipment, without notice to Lessee, to any third party, upon such terms and conditions as Lessor alone shall
<br />detennine, or may sell the Equipment, without notice to Lessee, at private or public sale, at which sale Lessor may be tile purchaser;
<br />(I) Lessor may sue for and recover from Lessee the sum of all unpaid rents and other payments due under this Lease tllen accrued. all
<br />accelerated future payments due under this Lease, discounted to their present value at a discount rate of 9 % as of the date of default, plus
<br />Lessor's estimate at the time this Lease was entered into of Lessor's residual interest in the Equipment, reduced to present value at a discount
<br />rate of 9% as of tile date of default, less the net proceeds of disposition, if any, of the Equipment;
<br />(g) To pursue any otller remedy available at law, by statue or in equity.
<br />No right or remedy herein conferred upon or reserved to Lessor is exclusive of any otller right or remedy herein. or by law or by equity
<br />provided. or permitted. but each shall be cumulative of every otller right or remedy given herein or now or hereafter existing by law or equity
<br />or by statute or otherwise, and may be enforced concurrently therewith or from time to time. No single or partial exercise by Lessor of any
<br />right or remedy hereunder shall preclude any otller or further exercise of any other right or remedy.
<br />23. MULTIPLE LESSEES. Lessor may, with tile consent of any one of the Lessees hereunder, modify, extend. or change any of tile terms
<br />hereof witllOut consent or knowledge of the others, without in any way releasing, waiving, or impairing any right granted to Lessor against tile
<br />others. Lessees and each of tllCm are jointly and severally responsible and liable to Lessor under this Lease.
<br />24. EXPENSE OF ENFORCEl\lENT. In the event of any legal action with respect to this Lease, tile prevailing pany in any such action
<br />shall be entitled to reasonabie attori1ey fees, including attorney fees incurred at the trial level, including action in bankruptcy coun, on appeal
<br />or review. or incurred without action, suits. or proceedings, together Witll all costs and expenses incurred in pursuit thereof.
<br />25. ENTIRE AGREEMENT; NO ORAL MODIFICATIONS; NO WAIVER. This instrument constitutes the entire agreement
<br />between Lessor and Lessee. No provision of this Lease 9llall be modified or rescinded unless in writing signed by a representative of Lessor.
<br />Waiver by Lessor of any provision hereof in one instance shall not constitute a waiver as to any otller instance.
<br />26. SEVERABILITY. This Lease is intended to constitute a valid and enforceable legal instrument and no provision of tllis Lease that may
<br />be deemed unenforceable shall in any way invalidate any other provision or provisions hereof, all of which shall remain in full force and effect.
<br />
<br />AS TO:
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