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• 14. Use. Lessee shall use the Equipment in a careful and proper manner and shall comply with and
<br /> conform to all Federal, State, 11�Iunicipal and other laws, ordinances and regulations in any way relating to
<br /> the possession, use or maintenance of the Equipment.
<br /> 15. Surrender of Equrpment. Provided that the right of either party pursuant to Section 19 hereof
<br /> shall not liave been exercisec], upon the expiration or earlier termination of this Lease, with respect to the
<br /> F_quipment, Lessee shall return the same to Lessor in good repair, condition and working order, ordinary
<br /> wear and tear resulting from proper use thereof alone eacepted, at the location of the Equipment at the
<br /> termination hereof.
<br /> 16. Assignment and Sublease. Without the prior written consent of Lessor, Lessee shall not (a)
<br /> assign, transfer, pledge or hypothecate this Lease, the Equiprnent or any part thereof, or any interest therein,
<br /> or (b) perrnit the Equipment or any part thereof to be used by anyone other than Lessee or Lessee's employees.
<br /> Any assignment w ithout sucli consent shall be void.
<br /> Lessee ackno�vledges and consents to any assigriment by Lessor of its interest in this Lease and the
<br /> payments due hereunder to I.ender and fui•ther agrees to fully comply with the terms of such assignment.
<br /> 17. Default. The occurrence of any of the following events shall, at the option of Lessor, terminate
<br /> this Lease and Lessee's right to possession of the Equipment:
<br /> (i) The nonpayment by Lessee of any sum required hereunder to be paid by Lessee within ten days
<br /> after notice thereof;
<br /> (ii) The default by Lessee under any other term, covenant, or candition of this Lease which is not
<br /> cured �i�ithin ten days after notice thereof from Lessor.
<br /> (iii) Any affirmative act'of insolvency by Lessee, or the filing by Lessee of any petition or action
<br /> under any bankruptc_y, reorganization, insolvency or moratorium law, or any other law or laws for the
<br /> relief of, or relating to, debtors.
<br /> (iv) The filing of any involuntary petition under any bankruptcy statute against Lessee that is not
<br /> dismissed �vithin sixty {60) days thereafter, or the appointment of any receiver or tntstee to take pos-
<br /> session of the properties of Lessee, unless such petition or appointment is set aside or withdrawn or
<br /> ceases to be in effect within sixty (60) days from the date of said filing or appointment.
<br /> (v) The subjection of any of Lessee's property to any levy, seizure, assignment, application or
<br /> sale for or by any creditor or governmental agency.
<br /> Upon the happening of any of the above events, Lessor may without notice to or demand upon Lessee:
<br /> (a) Take possession of the Equipment and lease the same or any portion thereof, for such period,
<br /> rental, and to such persons as I.essor shall elect and apply the proceeds of any such renting, after deduct-
<br /> ing all costs and expeiises incurred in connection «rith the recovery, repair, storage and renting of the
<br /> Equipment, in payment of the rent and other obligations due froin Lessee to Lessor hereunder, Lessee
<br /> remaining responsible for any deficiency.
<br /> (b) Take possession of the Equipmcnt and sell the same or any portion thereof at public or private
<br /> sale aud without demand or notice of intention to sell, and apply the proceeds of any such sale, after
<br /> deducting all costs and ehpenses incurred in connection with the recovery, repair, storage, and sale of
<br /> the Equipment and any rentals and other obligations of Lessee then due hereunder, against the "Stipu-
<br /> lated Loss Value" of the Equipment sold. If the proceeds, after the permitted deduction, are less than
<br /> the "Stipulated Loss Value", Lessee shall immediately pay Lessor the differeuce.
<br /> 18. Miscellaneous.
<br /> (a) Notices. Any communications between Lessor and Lessee, payments and notices provided herein �
<br /> to be given or made, may be given or n�ade by mailing the same to I.essor by certifierl or registered mail �
<br /> at One Embarcaclero Center, San Francisco, California 94111 aiid to Lessee at such address as it inay in '
<br /> writiiig l�ereinafter indicate. • �
<br /> 3 �
<br /> Form CEL
<br /> JC:CO-3/7/74
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