Res 1995-083 - Laserfiche WebLink

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- (" ( - r 3/ It . 5. NON-APPROPRIATION. (a) Lessee warrants that it has appropriated the necessary funds as required pursuant to this Agreement for the current fiscal period. It is Lessee's current intent to pay payments for the full agreement term as scheduled on Exhibit B provided funds are appropriated in each fiscal year by the appropriate governing body. In the event the appropriate governing body does not take such action to appropriate said funds allowing Lessee to continue paying the scheduled payments for the equipment described as part of this Agreement shall automatica.lly terminate on the last day of that fiscal year in which funds were appropriated and in that event the equipment leased hereunder shall, in accordance with this Agreement, be returned to Lessor, together with the "Return Expense" amount found for applicable period on Exhibit B. (b) To the extent permitted by the laws of the State of Texas, in the event Lessee elects not to renew, Lessee agrees not to purchase, lease or rent equipment performing functions similar to those performed by the equipment, and agrees not to permit functions similar to those performed through the use of the equipment to be performed by its own employees or by any agency or entity affiliated with or hired by Lessee for a period to include the remainder of the then-current fiscal period plus the next succeeding fiscal period. 6. LIMITATION ON WARRANTIES. LESSOR MAKES NO WARRANTY OR REPRESENTATION, BY THE TERMS OF TillS LEASE WITH OPTION TO PURCHASE CONTRACT, EITHER EXPRESS OR IMPLIED, AS TO THE VALUE, DESIGN, CONDITION, MERCHANTABILITY, FITNESS FOR PARTICULAR PURPOSE OR FITNESS FOR USE OF ANY OF THE EQUIPMENT OR AS TO ITS TITLE THERETO OR ANY OTHER REPRESENTATION OR W ARRANTYWITH RESPECT TO THE EQUIPMENT. Lessor hereby assigns to Lessee for and during the Lease Term all manufacturer's warranties or guaranties, express or implied, issued on or applicable to the Equipment and Lessor authorizes Lessee to obtain the customary services furnished in connection with such warranties or guaranties at Lessee's expense. Lessee acknowledges that the Equipment has been purchased by Lessor in accordance with Lessee's specifications and from a vendor selected by Lessee; that Lessor is not a manufacturer or dealer of such Equipment and takes no part in or responsibility for the installation of the Equipment, and that Lessor has made no representations or warranty and assumes no obligation with respect to the merchantability, condition, quality or fitness of the Equipment or the enforcement of the manufacturer's warranties or guaranties. 7. TITLE. Upon acceptance of the Equipment by Lessee hereunder, title to the Equipment will vest in Lessee SUBJECT TO LESSOR's SECURITY INTEREST; provided, however, that (a) in the event of termination of this Lease by Lessee pursuant to Section 5 hereof; or (b) upon the occurrence of an Event of Default hereunder, and as long as such Event of Default is continuing; or (c) in the event that the purchase option ! has not been exercised pursuant to Section 15 hereof, title will immediately be reconveyed to Lessor or its assignee. 8. PERSONAL PROPERTY. The Equipment is and will remain personal property and will not be deemed to be affixed or attached to real estate or any building thereon. If requested by Lessor, Lessee will, at its expense, furnish a landlord or mortgagee waiver with respect to the Equipment. 9. USE; REPAIRS. Lessee will use the Equipment in a careful manner for the use contemplated by the manufacturer of the Equipment and shall comply with all laws, ordinances, insurance policies and regulations relating thereto, and will pay all costs, claims, damages, fees and charges arising out of its possession, use or maintenance. Lessee, at its expense, will keep the Equipment in good repair and will 'furnish all parts, mecbanisms and devices required therefor. If the Equipment is such as is customarily covered by a maintenance agreement, Lessee will furnish Lessor with a maintenance agreement with a party satisfactory to Lessor.