|
<br /> l/IjF
<br /> thereofpursuant to clauses (a) or (d) oftrus paragraph shall be used by Lessor to prepay rental installments,
<br /> or portion(s) thereof, to the extent of moneys available, that will be due for the then current fiscal year of
<br /> Lessee in inverse order ofinsta1lment maturity. Any amount remaining in the Account after termination thereof
<br /> pursuant to clauses (b) or ( c) of this paragraph shall be immediately paid to Lessor and shall be treated for
<br /> purposes of this Lease as a prepayment, to the extent of moneys available, of the rental installments next
<br /> becoming due, and in no event shall such amount be deemed the property of Lessee. In the event that all of
<br /> the Equipment shall not have been purchased by such date, if Lessor shall receive an opinion satisfactory to
<br /> Lessor trom legal counsel acceptable to Lessor with nationally recognized standing in matters pertaining to
<br /> tax-exempt obligations to the effect that extending the duration of the Account will not adversely affect the
<br /> ta.x-exempt status of interest payable under this Lease.
<br /> - 9. NO WARRANTIES BY LESSOR: I\tIAINTENANCE: COMPLIANCE WITH LA \VS.
<br /> LESSEE ACKi~O\VLEDGES THAT IT HAS SELECTED THE EQUIPIVIENT WITHOUT ANY
<br /> ASSISTANCE FROM LESSOR, ITS AGENTS OR EIVIPLOYEES. LESSEE ACKl~OWLEDGES
<br /> THAT LESSOR, NOT BEING THE MANUFACTURER OR VENDOR OF THE EQUIPIVIENT, NOR
<br /> i\1ANUFACTURER'S OR VENDOR'S AGENT, AND HAVING NO FAIVIILIARITY WITH THE
<br /> EQUIPIVIENT WHATSOEVER, IVlAKES NO WARRANTY OR REPRESENTATION, EITHER
<br /> E..,XPRESS OR IMPLIED, AS TO THE FITNESS FOR A PARTICULAR PURPOSE, USE, VALUE,
<br /> QUALITY, DESIGN, CONDITION, DURABILITY, CAPACITY, SUITABILITY,
<br /> i\1ERCHANTABILITY OR PERFORMANCE OF THE EQUIPIUENT OR OF THE IVlA TERIAL OR
<br /> \VOR.Kl\tIA1'lSHIP THEREOF. IT IS AGREED THAT LESSOR LEASES AND LESSEE HIRES THE
<br /> EQUIPMENT "\VHERE IS," "AS IS" AND "WITH ALL FAULTS," INCLUDING, WITHOUT
<br /> LIl\tfiTATION, PATENT OR LATENT DEFECTS, AND THAT ALL SUCH RISKS, AS BETWEEN
<br /> THE LESSOR AND THE LESSEE, INCIDENT THERETO ARE TO BE BÇ>RNE BY THE LESSEE
<br /> A T ITS SOLE RISK AND EXPENSE. LESSEE AGREES NOT TO ASSERT ANY CLAIIVI
<br /> \VHA TSOEVER AGAINST THE LESSOR BASED THEREON, INCLUDING, WITHOUT
<br /> LIIVIITATION, CLAIl\1S BASED ON ANY BREACH OF VENDOR'S OR MANUFACTURER'S
<br /> \V ARRANTIES OR ANY IVlALFUNCTIONING OF OR DEFECT OR DEFICIENCY IN THE
<br /> EQUIPMENT OR PATENT INFRINGEMENT OR SIIVIILAR CLAThIS OR LESSEE'S
<br /> DISSATISFACTION WITH THE EQUIPIVlENT. LESSEE FURTHER AGREES NOT TO ASSERT
<br /> ANY CLAIM \VHA TSOEVER AGAINST THE LESSOR FOR LOSS OF ANTICIPATORY PROFITS
<br /> OR OTHER ACTUAL, SPECIAL, INCIDENTAL, CONSEQUENTIAL OR INDIRECT DAMAGES.
<br /> LESSOR SHALL NOT AT ANY TIl\'lE BE REQUIRED TO INSPECT THE EQUIPMENT OR ANY
<br /> PART THEREOF NOR SHALL ANY INSPECTION BY LESSOR BE DEEMED TO AFFECT OR
<br /> "- IVIODIFY THE PROVISIONS OF THIS SECTION.
<br /> No oral agreement, guaranty, promise, condition, representation or warranty contrary to the
<br /> foregoing shall be binding. All prior conversations, agreements or representations related to this Lease and/or
<br /> to the Equipment are integrated herein. Lessor makes no warranty whatsoever regarding the characterization
<br /> of this Lease for ta.x, accounting or other purposes.
<br /> Lessor shall have no obligation to install, erect, test, adjust or service the Equipment. Lessee
<br /> agrees, unless otherwise expressly agreed to by Lessor in advance and in writing, at Lessee's own cost and
<br /> expense: (a) to pay all shipping charges and other expenses incurred in connection with the shipment of the
<br /> Equipment by the vendor thereof to Lessee; (b) to pay all charges and expenses in connection with the
<br /> installation, deinstallation, use, operation and maintenance of each item of Equipment; (c) to comply with the
<br /> Equipment manufacturer's operating procedures, with all insurance and warranty requirements, and with all
<br /> governmental laws, ordinances, regulations, requirements and rules with respect to the use, maintenance and
<br /> 7
<br />
|