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state and federal) which may now or hereafter be imposed upon the ownership, licensing, leasing, rental, sale,
<br />purchase, possession or use of the Equipment, excluding however, all taxes on or measured by Lessor's income.
<br />If Lessee fails to pay said charges and taxes when due, Lessor shall have the right, but shall not be obligated, to
<br />pay said charges and taxes. If Lessor pays any charges or taxes, Lessee shall reimburse Lessor therefor within
<br />ten days of written demand.
<br />12. RISK OF LOSS: DAMAGE; DESTRUCTION. Lessee assumes all risk of loss or damage to
<br />the Equipment from any cause whatsoever, and no such loss of or damage to the Equipment nor defect therein
<br />nor unfitness or obsolescence thereof shall relieve Lessee of the obligation to make Lease Payments or to
<br />perform any other obligation under this Lease. In the event of damage to any item of Equipment, Lessee will
<br />immediately place the same in good repair with the proceeds of any insurance recovery applied to the cost of
<br />such repair. If Lessor determines that any item of Equipment is lost, stolen, destroyed or damaged beyond
<br />repair (an "Event of Loss"), Lessee at the option of Lessor will: either (a) replace the same with like equipment
<br />in good repair; or (b) on the next Lease Payment date, pay Lessor the sum of :. (i) all amounts then owed by
<br />Lessee to Lessor under this Lease, including the Lease payment due on such date; and (ii) an amount equal to
<br />all remaining Lease Payments to be paid during the Lease Term as set forth in Schedule B.
<br />In the event that Lessee is obligated to make such payment with respect to less than all of the
<br />Equipment, Lessor will provide Lessee with the pro rata amount of the Lease Payment and the Balance Payment
<br />(as set forth in Schedule B) to be made by Lessee with respect to that part of the Equipment which has suffered
<br />the Event of Loss.
<br />13. INSURANCE. Lessee will, at its expense, maintain at all times during the Lease Term, fire and
<br />extended coverage, public liability and property damage insurance with respect to the Equipment in such
<br />amounts, covering such risks, and with such insurers as shall be satisfactory to Lessor, Lessee may self -insure
<br />against any or all such risks. All insurance covering loss of or damage to the Equipment shall be carried in an
<br />amount ,no_less.;than..the atnaunt of -the, then.. applicable.Balance _Payment _with, respect to such Equipment. _ The__
<br />initial amount of insurance required is set forth in Schedule B. Each insurance policy will name Lessee as an
<br />insured and Lessor or it's Assigns as an additional insured, and will contain a clause requiring the insurer to
<br />give Lessor at least thirty (30) days prior written notice of any alteration in the terms of such policy or the
<br />cancellation thereof The proceeds of any such policies will be payable to Lessee and Lessor or it's Assigns as
<br />their interests may appear. Upon acceptance of the Equipment and upon each insurance renewal date, Lessee
<br />will deliver to Lessor a certificate evidencing such insurance. Lessee has been permitted to self=insure, and
<br />Lessee will furnish Lessor with the signed Statement of Self -Insurance to such effect. In the event of any loss,
<br />damage, injury or accident involving the Equipment, Lessee will promptly provide Lessor with written notice
<br />thereof and make available to Lessor all information and documentation relating thereto.
<br />14. INDEMNIFICATION. Lessee shall, to the extent permitted by law, indemnify Lessor against, and
<br />hold Lessor harmless from, any and all claims, actions, proceedings, expenses, damages or liabilities, including
<br />attorneys' fees and court costs, arising in connection with the Equipment, including, but not limited to, its
<br />selection, purchase, delivery, licensing, possession, use, operation, rejection, or return and the recovery of
<br />claims under insurance policies thereon.
<br />15. ASSIGNMENT. Without Lessor's prior written consent, Lessee will not either (i) assign., transfer,
<br />pledge, hypothecate, grant any security interest in or otherwise dispose of this Lease or the Equipment or any
<br />interest in this Lease or the Equipment or; (ii) sublet or lend the Equipment or permit it to be used by anyone
<br />other than Lessee or Lessee's employees. Lessor may assign its rights, title and interest in and to this Lease, the
<br />Equipment and any documents executed with respect to this Lease and/or grant or assign a security interest in
<br />this Lease and the Equipment, in whole or in part. Any such assignees shall have all of the rights of Lessor
<br />under this Lease. Subject to the foregoing, this Lease inures to the benefit of and is binding upon the heirs,
<br />executors, administrators, successors and assigns of the parties hereto.
<br />CLEAN SHORT FORM SIMPLIFIED LEASE rev 7.28.16
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