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notice cannot be corrected within the applicable penod Lessor will not unreasonably withhold its consent to an extension of such time if corrective action is instituted by Lessee within the applicable period and diligently pursued until the default is corrected (c) Any statement representation or warranty made by Lessee in or pursuant to the Property Schedule or its execution delivery or performance shall prove to have been false,incorrect misleading or breached in any material respect on the date when made, (d) Lessee shall(i)apply for or consent to the appointment of a receiver trustee custodian or liquidator of Lessee or of all or a substantial part of the assets of Lessee, (n)be unable fail or admit in wnting its inability generally to pay its debts as they become due (w)make a general assignment for the benefit of creditors,(iv)have an order for relief entered against it under applicable federal bankruptcy law or(v)file a voluntary petition in bankruptcy or a petition or an answer seeking reorganization or an arrangement with creditors or taking advantage of any insolvency law or any answer admitting the material allegations of a petition filed against Lessee in any bankruptcy,reorganization or insolvency proceeding or (e) An order judgment or decree shall be entered by any court of competent jurisdiction approving a petition or appointing a receiver trustee custodian or liquidator of Lessee or of all or a substantial part of the assets of Lessee in each case without its application approval or consent and such order judgment or decree shall continue unstayed and in effect for any period of 60 consecutive days The foregoing provisions of Section 13 01 are subject to the following limitation if by reason of force maieure Lessee is unable in whole or in part to perform its agreements under this Agreement and the Property Schedule(other than the obligations on the part of Lessee contained in Article VI hereof)Lessee shall not be in default during the continuance of such inability The term'force maleure"as used herein shall mean the following acts of God strikes lockouts or other industrial disturbances acts of public enemies orders or restraints of any kind of the government of the United States or of the State or any of their departments agencies or officials or any civil or military authonty insurrections riots landslides earthquakes fires storms droughts floods explosions breakage or accident to machinery transmission pipes or canals,or any other cause or event not reasonably within the control of Lessee A Nonappropriation Event is not an Event of Default 13 02 Remedies on Default Whenever any Event of Default exists with respect to a Property Schedule,Lessor shall have the right at its sole option without any further demand or notice to take one or any combination of the following remedial steps (a) Without terminating the Property Schedule and by wntten notice to Lessee Lessor may declare all Lease Payments and other amounts payable by Lessee thereunder to the end of the then-current budget year of Lessee to be due including without limitation delinquent Lease Payments under the Property Schedule from prior budget years and such amounts shall thereafter bear interest at the rate of 12%per annum or the maximum rate permitted by applicable law whichever is less (b) Lessor may terminate the Property Schedule may enter the premises where the Property subject to the Property Schedule is located and retake possession of the Property or require Lessee,at Lessee's expense to promptly return any or all of the Property to the possession of Lessor at such place within the United States as Lessor shall specify and Lessor may thereafter dispose of the Property in accordance with Article 9 of the Uniform Commercial Code in effect in the State provided, however that any proceeds from the disposition of the property in excess of the sum required to (i) pay off any outstanding principal component of Lease Payments (n)pay any other amounts then due under the Property Schedule and(iii)pay Lessor's costs and expenses associated with the disposition of the Property(including attorneys fees) shall be paid to Lessee or such other creditor of Lessee as may be entitled thereto, and further provided that no deficiency shall be allowed against Lessee except with respect to unpaid costs and expenses incurred by Lessor in connection with the disposition of the Property (c) By wntten notice to any escrow agent who is holding proceeds of the Property Schedule Lessor may instruct such escrow agent to release all such proceeds and any earnings thereon to Lessor such sums to be credited to payment of Lessees obligations under the Property Schedule (d) Lessor may take any action at law or in equity that is permitted by applicable law and that may appear necessary or desirable to enforce or to protect any of its rights under the Property Schedule and this Agreement Notwithstanding the foregoing if the proceeds are insufficient to pay items(i)to(iii)in Section 13 02(b)in whole Lessee shall remain obligated after application of proceeds to items(i)and(n) to pay in whole the amounts for item(In) 13 03 No Remedy Exclusive No remedy herein conferred upon or reserved to Lessor is intended to be exclusive and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Agreement now or hereafter existing at law or in equity No delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver thereof but any such right or power may be exercised from time to time and as often as may be deemed expedient In order to entitle Lessor to exercise any remedy reserved to it in this Article it shall not be necessary to give any notice other than such notice as may be required in this Article 13 04 Costs and Attorney Fees Upon the occurrence of an Event of Default by Lessee in the performance of any term of this Agreement Lessee agrees to pay to Lessor or reimburse Lessor for in addition to all other amounts due hereunder all of Lessor's costs of collection including reasonable attorney fees,whether or not suit or action is filed thereon Any such costs shall be immediately due and payable upon written notice and demand given to Lessee shall be secured by this Agreement until paid and shall bear interest at the rate of 12%per annum or the maximum amount permitted by law whichever is less In the event suit or action is instituted to enforce any of the terms of this Agreement the prevailing party shall be entitled to recover from the other party such sum as the court may adjudge reasonable as attorneys'fees at trial or on appeal of such suit or action or in any bankruptcy proceeding in addition to all other sums provided by law ARTICLE XIV 1401 Notices All notices,certificates or other communications hereunder shall be sufficiently given and shall be deemed given when delivered or mailed by certified mail postage prepaid to the parties hereto at the addresses as specified on the first page of this Agreement(or at such other address as either party hereto shall designate in wnting to the other for notices to such party) to any assignee at its address as it appears on the registration books maintained by Lessee 14 02 Arbitrage Certificates Unless a separate Arbitrage Certificate is delivered on the Commencement Date Lessee shall be deemed to make the following representations and covenants as of the Commencement Date for each Property Schedule (a) The estimated total costs including taxes freight installation and cost of issuance of the Property under the Property Schedule will not be less than the total principal amount of the Lease Payments (b) The Property under the Property Schedule has been ordered or is expected to be ordered within six months after the Commencement Date and the Property is expected to be delivered and installed and the Vendor fully paid within eighteen months from the Commencement Date Lessee will pursue the completion of the Property and the expenditure of the net proceeds of the Property Schedule with due diligence (c) Lessee has not created or established and does not expect to create or establish any sinking fund or other similar fund(i)that is reasonably expected to be used to pay the Lease Payments under the Property Schedule or(n)that may be used solely to prevent a default in the payment of the Lease Payments under the Property Schedule (d) The Property under the Property Schedule has not been and is not expected to be sold or otherwise disposed of by Lessee either in whole or in major part prior to the last matunty of the Lease Payments under the Property Schedule (e) There are no other obligations of Lessee which(i)are being sold within 15 days of the Commencement Date of the Property Schedule, (n)are being sold pursuant to the same plan of financing as the Property Schedule and(in)are expected to be paid from substantially the same source of funds (f) The officer or official who has executed the Property Schedule on Lessee's behalf is familiar with Lessees expectations regarding the use and expenditure of the proceeds of the Property Schedule To the best of Lessees knowledge,information and belief the facts and estimates set forth in herein are accurate and the expectations of Lessee set forth herein are reasonable 14 03 Further Assurances Lessee agrees to execute such other and further documents including without limitation confirmatory financing statements,continuation statements certificates of title and the like,and to take all such action as may be necessary or appropriate from time to time in the reasonable opinion of Lessor to perfect