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USE OF EQUIPI~ENT (continued) <br />other purposes as shall be customary or necessary in the conduct of and <br />maintenance of a fire department. <br /> <br /> 4. Ter~s and Rental: The term of this lease shall be the period of <br /> <br /> ONE YEAR from and including the 1ST day of OCT. , 19 85 <br /> <br />to and including the 30TH day of SEPT. , 1986, the rental of <br /> <br />said period to be $30,761.46 , paid by LESSEE to <br /> <br />FMC upon delivery of equipment herein leased. <br /> <br /> 5. Maintenance of Equipment: LESSEE, at its own expense, shall (a) <br /> <br />keep said equipment in good repair through the term of this lease, (b) <br />furnish all necessary repair parts and install them, and (c) furnish the <br />labor required to operate, adjust, and attend said equiFment. <br /> <br /> 6. TAXES: LESSEE shall pay all taxes or assessments of every kind <br /> <br />and character which may be levied upon or assessed against said equipment, <br />and also any Federal, State, County or Municipal sales, use, compensating, <br />intangibles, gross income, or like tax, however designated, which is levied <br />or based upon the rental collected by FMC hereunder, or upon the lease <br />transaction or upon the use of said equipment, but not including taxes <br />payable upon net income of FMC. LESSEE hereby agrees to exonerate, <br />indemnify and save FMC harmless from and against any and all cost or <br />expense which ~nay accrue to or be sustained by FMC on account of LESSEE's <br />failure to make such payment. <br /> <br /> 7. Insurance: Said equipment shall be insured by LESSEE, at its own <br />expense, against loss or damage by fire, theft and other physical da~nage, <br />including collision, in an amount not less than the full insurable value <br />thereof, with loss, if any payable to FMC; provided, however, that $500.00 <br />deductible insurance against collision will be acceptable to FMC. <br /> <br /> <br />