R99-189 AUTHORIZING BUS LEASING AGREEMENT

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E. The LESSOR shall assist the LESSEE in the screening, hiring, and training of operators for the leased vehicle. F. If the leased vehicle shall become inoperable, it will be the responsibility of the LESSOR to provide another vehicle of comparable value and seating capacity for LESSEE's use. 6. PAYMENT: During the term of this Agreement, the LESSEE shall pay as rental for the leased vehicle the sum of Sixteen Dollars ($16.00) per hour. Within five (5) days after the close of each month, the LESSOR, shall bill the LESSEE for the time (to the nearest quarter hour) that the vehicle was used during the month. The LESSEE shall make payment within fifteen(15) days of receipt of said bill. 7. DEFAULT: The following are events of default hereunder: (a) non- payment of any rent or other amount due LESSOR hereunder within fifteen(15) days of the due date; (b) nonperformance under any provision hereof within ten (10) days after LESSOR has made written demand therefor; (c) LESSEE's bankruptcy, receivership, insolvency, assignment for the benefit of the creditor's or similar action or condition relating to LESSEE or LESSEE's property which causes LESSOR in good faith to deem itself insecure with respect to the collection of the total rent for the unexpired term of this lease. 8. REMEDIES OF DEFAULT: Whenever an Event of Default has occurred or is continuing, LESSOR shall have the right, but not the obligation, to exercise one or more of the following remedies: (a) to terminate LESSEE's rights under this lease; (b) to take possession of the bus, wherever located, without demand or notice and without any court order or other process of law; (c) to recover immediately all rents and other amounts then due or thereafter accruing under this lease: (d) to sell the bus at public or private sale; (e) to recover all costs of taking possession, storing, repairing, and where applicable, selling the bus; (� to pursue any other remedy now or hereafter existing at law or in equity.