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Tire Lease Agreement IFB DI'TS 2019-02
<br /> t€the City elects to waive its remedies for any breach by Bridgestone of any cavenant,term or canditian
<br /> of this Agreement, Chen such waiver by the City shall not limit the City's remedies for any succeeding
<br /> breach of that ar of any oeher term,covenant,oi condi#ion of this Agreement.
<br /> 12.T1Tl.E.The i'stle ta, and awr�ership of,ali tires, and equipment,if any,furnished under this Agreement
<br /> shall remain with Bridgestone until the City, if required ta do so hereunder,has made complete
<br /> payr�tent there#ore. The City agrees to assume the responsibility for the safekeeping of all such tires and
<br /> any such equipment,and to reimburse Bridgestone for any loss resulting from the City's Pailure to keep
<br /> such tires ancf equipment safe.
<br /> 13.ASSIGNMENT, Neither party shalE sell,transfer,subtease,asstgn or otherwise dispase of or encumber
<br /> in any way any of its rights or interests under this Agreement, in whole ar in part, Ca any other person,
<br /> carparation, partnership or authority,withaut the prior written consent of the other party,which
<br /> consent shall not be unreasonably withheld. In the event of any such sale,transfer,sublease,
<br /> assignrrtent,etc. with the other party's cansent, Bridgestane and the City and their respective partners,
<br /> successors, heirs,executors,administrators, assigns and legal representatives shall remain fully bound
<br /> by the terms and provisions of this Agreement.
<br /> 14. LIABILITY LIMITATION. Notwithstanding any other pravision af this Contrart ta the cantrary, neither
<br /> 8ridgestane nor the City shall be{iabie to the otFter party under any circumstances for(ost profits ar
<br /> incidental, punitive, exemplary, special, indirect or consequential damages arising under, relating to,or
<br /> in any way connected with this Agreement whether any such damage was fareseeable by Bridgestone o�
<br /> the City.
<br /> 15.SECURITY INTEREST Far the purpose of securin�payment of all sums that may be owed by Operator
<br /> io Bridgestane,incfuding bui€�at limited tc�payment fo�-mileage run and for any tires required to be
<br /> purchased by Operator hereunder,Operator here�►y granks to Bridgestone a security interest in and ta
<br /> any tires or equipment furnished by Bridgestone in which Operator, by virkue of present or future laws
<br /> a�the aperation of this Agreement, has or is deemed to have an interest,wherever the same may be,
<br /> and in any proceeds ft-am the sale or othes-disposition of said tires or equipment. C}perator further
<br /> agrees to join in the execution,execute,or cause to be executed at any time such Financing Statements,
<br /> Continuation Statements,and other dacuments as Bridgestone shall deem necessary or advisable to
<br /> protect its rights in and to any gaods leased hereunde�and/or perfect or cantinue perfected the security
<br /> in#erest given in this Agreement.
<br /> 16,AUDIT ANI?lNSPECTION OF RECORDS. Bridgestc�ne shalf permit the authorized re�resentatives of
<br /> the City, the State of Illinois,the Federal Transit Administration and the U.S.Comptroller General,at any
<br /> reasanable time during business hours,to inspect and audit aEl non-praprietary data and records af
<br /> Bridgestone relating to its perfarmance under the Agreement,and to copy or reproduce by any means
<br /> whatsoever non-proprietary exeerpts and transcriptians as reasonably�eecSed, Bridgestone agrees to
<br /> maintain all books, records, accounts and reparts required under this Agreement far a period of not less
<br /> than three(3)years after the date af terminatian ar expifation oF this Agreement,except in the event of
<br /> litigation or settlement of claims arising from the performance of this Agreement, in which case
<br /> Bridgestone agrees to maintaln same untit all interested parties have dispased of all such litigation,
<br /> appeals,claims or exceptians related thereta. [Reference 49 C.F.R.§18.39(i)�11).]
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