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Lease Agreement PACIFiC
<br /> Terms and Conditions MOBILE STRUCTURES
<br /> 1.Lease
<br /> The transaction is a lease and not a sale.RENTER does not acquire through this Lease or by payment of rental amounts,any right,title or interest in leased equipment,
<br /> or any right to purchase such leased equipment.RENTER acknowledges that the leased equipment is personal property and shall not,at any time,constitute real
<br /> property,an improvement thereon,or a fixture.
<br /> 2.Rental Period
<br /> The rental period shall commence upon the date of delivery of the equipment by PMSI to the RENTER and continue until the termination date set forth in each Rental
<br /> Order,or as earlier terminated as provided herein.
<br /> 3.Determination of Rental Charges;Leased Equipment
<br /> RENTER shall pay rent,on a monthly basis,in the amounts set forth in the Rental Order issued by PMSI reflecting the negotiated rental rate and describing the leased
<br /> equipment.
<br /> 4.Payment
<br /> Payments are due on the first of each month in the amount described in each Rental Order and shall be deemed late if not paid by the 20th of each month,at which
<br /> time a finance charge of 1%per month will be assessed until paid. Invoices issued by PMSI are solely for RENTER's convenience,and payment is due regardless of
<br /> timely delivery of any invoice.
<br /> 5.Access,Site Conditions,Utility Service
<br /> RENTER shall provide free and clear access for delivery and return of leased equipment by standard mobile transport vehicles. RENTER shall provide site that is
<br /> dry,compacted with minimum 1,500 PSF,and level ground on no more than six-inch slope from one end to the other for safe installation and removal of the leased
<br /> equipment.Site selection is the sole responsibility of RENTER and PMSI shall have no liability for determining the adequacy of any site. Furthermore, PMSI solely
<br /> reserves the right,for any reason,to refuse to release delivery and/or provide removal at any site it deems inadequate for use,installation and/or removal.RENTER
<br /> shall be responsible for obtaining any permits required to install,remove and operate the equipment.RENTER shall provide at RENTER's expense site improvements,
<br /> adequate electrical power, water and other utility services with proper connection to leased equipment and handicap accessibility to the building. RENTER shall
<br /> provide at RENTER'S expense the disconnection of electrical power,water and other utility services prior to PMSI's pick up of the leased equipment.
<br /> 6.Other Fees,Expenses and Taxes
<br /> In addition to,the rental payments provided for herein, RENTER shall pay all expenses,fees,charges,and fuel surcharges incurred in connection with the leased
<br /> equipment during its delivery, use and return.Additional charges include, but are not limited to,the following instances:(1)where travel permits and/or pilots are
<br /> required for delivery/return; (2) where the delivery site is not a level, compacted and accessible site; (3) where tie-downs are required. The number of seismic
<br /> tie-downs is estimated with assumptions to site surface and seismic zone. If engineering is requested,then the quantities will be adjusted to the engineered plans. If
<br /> the tie-down option is not taken,RENTER assumes liability;(4)where alternate steps are needed(temporary steps furnished but steps may not meet all local codes);
<br /> (5) - -2- - : - .: -: -: - - - -- ' -- -- --- --- -: : -• '--; 6)where axles,tires and tow bars need to be removed;(7)where extra trip charges
<br /> are needed if RENTER stops work in progress; (8)where grade for ramping is different than 30"to 36"from door threshold to ramp entrance;(9)where RENTER
<br /> delays the delivery of the equipment greater than 60 days from proposed delivery date;(10)where lease is canceled prior to delivery of equipment and PMSI has
<br /> made modifications to the building or performed scope of work items. RENTER also agrees to pay any fines, servicing costs, sales taxes, use taxes, personal or
<br /> real property taxes and other use taxes,and all assessments and other governmental charges whatsoever payable on RENTER's use,possession,rental,shipment,
<br /> transportation,delivery or operation thereof.If a lease is terminated early,the remaining contractual balance shall be immediately due and payable,unless waived by
<br /> LESSOR in its sole discretion.
<br /> 7.Delivery and Return of Leased Equipment
<br /> PMSI shall not be liable to RENTER for any failure or delay in delivering the leased equipment. By taking delivery thereof, RENTER acknowledges that the leased
<br /> equipment is in good workincondition,free of any physical defect or damage,and is fit for the purpose for which it is leased. Further,the leased equipment shall
<br /> remain at the delivery site untilthe termination of the lease,at which time PMSI shall pick up the leased equipment.The leased equipment shall not be moved without
<br /> PMSI's prior written consent.Two weeks' notice is required prior to equipment return date. Rent is required to be paid until the leased equipment is picked up.
<br /> Delivery and return costs will be quoted at time of rental. However,return costs are to be at the prevailing rate at termination of lease;thus they are subject to change
<br /> depending on special circumstances such as fuel costs and delivery routes.
<br /> 8.Lawful Use,Assignment,and Subletting
<br /> RENTER shall use or permit the use of the leased equipment only for lawful purposes and operate in compliance with all laws.If the leased equipment is used by any
<br /> party in association with unlawful activity prior to it being returned to PMSI,RENTER agrees to reimburse PMSI upon demand for any and all damages and incidental
<br /> costs PMSI incurs,including,but not limited to,time and cost expenses associated with participating in governmental administrative or law enforcement processes,
<br /> attorney fees, and remedial costs. RENTER shall not assign,transfer,sublet,or in any way assign its rights hereunder,and shall not pledge, permit to be liened,
<br /> mortgaged,or otherwise encumber its rights or interests hereunder.All third-party claims of possession, interest,or ownership by or through RENTER,as stated
<br /> herein,shall be deemed invalid. PMSI may assign its rights hereunder without notice to,or consent from,RENTER.
<br /> 9.Non-Liability of PMSI and Indemnification
<br /> Unless caused solely by PMSI'S gross negligence or willful misconduct,PMSI shall not be liable to RENTER for any third party claims,actions,suits or proceedings
<br /> of any kind and nature whatsoever, inclufding any damages, liabilities,penalties,costs,expenses and reasonable consultant and legal fees based on,arising out
<br /> of,connected with or resulting from the leased equipment or by the use,maintenance,operation,handling or storage thereof,for the loss of RENTER'S business
<br /> or damages whatsoever or howsoever caused or for RENTER'S obligations under this Lease(hereinafter"Claim(s)"),including,without limitation,Claims relating to
<br /> ownership,use,possession or disposal of the leased equipment, _: --- - ' •:'• _-- -_ - '•_.:'•- -- --_-, ' .: : : •-- ' -,Claims arising out
<br /> of latent defects of the leased equipment(regardless of whether the same are discoverable by PMSI or R NT R,Claims arising out of or relating to the violation of
<br /> applicable law,including environmental law,or the existence or release of hazardous materials at the site where the leased equipment is located,or Claims arising out
<br /> of any trademark,patent or copyright infringement,but excluding(a)any Claims that accrue in respect of circumstances that occur after PMSI has taken possession of
<br /> the leased equipment after termination of this Lease,provided that such Claims do not relate to RENTER'S use,possession or operation of the leased equipment,or(b)
<br /> any Claims that result from the gross negligence or willful misconduct of PMSI.If any claim is made against RENTER or PMSI,the party receiving notice of such Claim
<br /> shall promptly notify the other,as set forth in Section 11,but the failure of such person receiving notice to notify the other shall not relieve RENTER of any obligation
<br /> hereunder.RENTER shall indemnify,defend and hold harmless PMSI,its employees and agents from any and all losses,damages,claims,demands,or liability of any
<br /> kind whatsoever,including legal expenses and attorney's fees arising from the use,condition or operation of the leased equipment.
<br /> 10.Insurance Requirements
<br /> RENTER,at its sole cost and expense,will obtain and keep in force,from the delivery date until the removal of the equipment,the following policies:
<br /> (a)Blanket Commercial General Liability Insurance providing coverage on ISO form CG 00 01 or a substitute providing equivalent coverage,and subject to policy
<br /> limitations or exclusions reasonably acceptable to PMSI, in the amount of not less than$1,000,000 per occurrence, naming PMSI as additional insured and
<br /> endorsed to state that it shall be primary and non-contributory insurance as respects to PMSI's insurance. All insurance held by PMSI shall be excess,secondary
<br /> and non-contributory as respects to RENTER'S insurance.
<br /> i.If PMSI does not receive the general liability certificate prior to delivery,then the RENTER will pay a monthly non-insurance penalty fee for each month that
<br /> the RENTER fails to provide the required certificate of insurance. Such fees shall be calculated by PMSI at its then prevailing rate(s)and will not be refunded in
<br /> arrears.PMSI is not an insurance company and the fee is not an insurance policy.
<br /> (b)Commercial Property Insurance,providing coverage under ISO CP 10 30,Causes of Loss-Special Form or the equivalent,and subject to policy limitations or
<br /> exclusions reasonably acceptable to PMSI,for an amount no less than 100%of the replacement cost of the leased equipment as established by PMSI,with PMSI
<br /> added as loss payee.
<br /> REV.FEB 2020
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