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07-24-14 Redevelopment Commission Meeting
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• <br /> ($200,000). Upon the conclusion of the term of such additional Equipment Lease, the Lessee <br /> may purchase Year 2 Equipment for One Dollar($1.00). <br /> 12. Taxes and Other Charges. All taxes, assessments, license fees, and other charges <br /> (including, without limitation, personal property taxes and sales, use and leasing taxes) imposed, <br /> levied or assessed on or with respect to the ownership, possession, rental, operation or use of the <br /> Equipment during the Term shall be paid by Lessee before the same shall become delinquent, <br /> whether such taxes would ordinarily be assessed against Lessor or Lessee. If Lessee fails to make <br /> such payments, then Lessor may, in its discretion, and in addition to all other remedies available <br /> to it under this Agreement or by law,pay the same and seek full reimbursement from Lessee plus <br /> costs and interest at the Default Rate. <br /> 13. Indemnification; Limitation of Liability. <br /> (a) Indemnification by Lessee. Lessee agrees to indemnify, defend and hold harmless Lessor <br /> from and against any claims, damages, losses or expenses (including reasonable attorney's fees) <br /> ("Losses") by third parties arising out of, connected with, occurring by virtue of or relating in <br /> any way to the installation, possession, operation or use of the Equipment; provided however, <br /> that Lessee shall not be obligated to indemnify Lessor for Losses caused by Lessor's grossly <br /> negligent or willful misconduct in servicing or maintaining the Equipment. This indemnity shall <br /> not be affected or terminated by, and shall survive, termination of this Lease, for any reason, <br /> with respect to all or any part of the Equipment. <br /> (b) Indemnification by Lessor. Lessor agrees to assign to Lessee any indemnification rights <br /> it was provided by the manufacturer of any item of the Equipment related to any claims, losses or <br /> expenses arising out of or relating to: <br /> (1) any claim that the Equipment infringes, violates, or misappropriates the intellectual <br /> property rights of any third party; and/or <br /> (2) any claim for personal injury or property damage for Equipment that has been negligently <br /> designed or manufactured. <br /> (c) Indemnification Procedures. A party seeking indemnification hereunder (the <br /> "Indemnified Party") shall promptly notify the other party (the "Indemnifying Party") in writing <br /> of any claim and shall provide the Indemnifying Party any related documents constituting the <br /> basis for such claim. The failure by an Indemnified Party to timely furnish the Indemnifying <br /> Party any notice or documentation under this Section 13(c) shall not relieve the Indemnifying <br /> Party from any responsibility for the matters relating to such notice or documentation, except to <br /> the extent such failure materially and adversely prejudices the ability of the Indemnifying Party <br /> to defend such claim. <br /> (d) Limitation of Liability. Except for liability for third party claims, in no event shall either <br /> party be liable for any indirect, incidental, special, exemplary, punitive or consequential damages <br /> of any kind whatsoever (including lost profits or loss of goodwill) even if the party has been <br /> advised of the possibility of such damages. <br /> - 6 - <br />
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