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6B(2)
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08-14-14 Redevelopment Commission Meeting
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6B(2)
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MANUFACTURER WARRANTY WORK PERFORMED ON THE EQUIPMENT. LESSOR <br /> RESERVES THE RIGHT TO MODIFY, ALTER AND IMPROVE ANY PART OR PARTS OF <br /> THE EQUIPMENT WITHOUT INCURRING ANY OBLIGATION TO REPLACE ANY <br /> PARTS OR PARTS PREVIOUSLY SUPPLIED. NO DEFECT, REGARDLESS THE CAUSE <br /> OR CONSEQUENCE, SHALL RELIEVE LESSEE FROM PERFORMANCE UNDER THIS <br /> LEASE, INCLUDING, WITHOUT LIMITATION, ITS OBLIGATION TO MAKE THE <br /> RENTAL PAYMENT. LESSOR, OR THE PRODUCT MANUFACTURER, AS THE CASE <br /> MAY BE UNDER ANY EXISTING WARRANTY, IN ITS OR THEIR REASONABLE <br /> DISCRETION, WILL DETERMINE WHETHER A PART NEEDS TO BE REPAIRED OR <br /> REPLACED. LESSOR SHALL NOT BE LIABLE TO LESSEE HEREUNDER UNDER ANY <br /> CIRCUMSTANCE FOR ANY CONSEQUENTIAL, SPECIAL, PUNITIVE, OR INDIRECT <br /> DAMAGES OF ANY KIND, INCLUDING BUT NOT LIMITED TO LOST PROFITS OR <br /> OPPORTUNITIES. <br /> 8. Care, Maintenance, and Use of the Equipment. Lessee shall not permit the Equipment to <br /> be used or operated in violation of any applicable law, rule or regulation. Lessee, at its sole cost <br /> and expense, shall keep the Equipment in good operating order, repair and condition and <br /> shall perform or cause to be performed all maintenance and repairs to the Equipment, as and <br /> when required, all in strict accordance with the written specifications for such Equipment. <br /> Lessee agrees that any service, maintenance or repairs which Lessee causes to be undertaken or <br /> performed with respect to the Equipment shall be performed only by competent persons <br /> approved by Lessor to service or repair the Equipment. Lessee shall keep the Equipment only at <br /> the locations identified in the attached Schedule A (the "Equipment Locations"), and shall not <br /> remove items of the Equipment from the Equipment Locations to which it is designated in <br /> Schedule A (or any other place as may subsequently be permitted by the written consent of <br /> Lessor) without the express written consent of Lessor, which consent shall not be unreasonably <br /> withheld. Under no circumstance shall any item of the Equipment be relocated outside of the <br /> city limits of South Bend, Indiana. Lessor shall have the right during Lessee's normal business <br /> hours and upon no less than twenty-four (24) hours prior notice and subject to applicable laws <br /> and regulations , to enter Lessee's premises where the Equipment is located in order to inspect, <br /> observe, affix labels or other markings, to confirm that the Equipment's use and condition <br /> are in compliance with the terms of this Lease, and to otherwise protect Lessor's interest therein. <br /> 9. Option to Purchase. Subject to the provisions of Section 10 below and Section 3.02 and <br /> Section 3.03 of the Agreement, upon the expiration of the Term and upon Lessee's compliance <br /> with Sections 3.02 and 3.03 of the Agreement, Lessee shall have the option, but not the <br /> obligation, to purchase the Equipment outright for the sum of One Dollar ($1.00) (the "Option <br /> Purchase Price"). Upon Lessee's payment in full of the Option Purchase Price to Lessor, title to <br /> the Equipment shall pass to Lessee, and Lessor shall execute such bills of sale, assignments and <br /> other instruments and documents necessary to transfer title to the Equipment to Lessee. <br /> 10. Obligation to Purchase Equipment. Notwithstanding the provisions contained in Section <br /> 9, in the event that (i) Lessee breaches its obligations under Section 3.02 or Section 3.03 of the <br /> Agreement (regarding Lessee's obligations with respect to establishing its South Bend <br /> Production Facility and Warehouse and the creation of specified jobs and investment in space <br /> and equipment) and fails to cure such breach in accordance with Section 5.03 of the Agreement <br />
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