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a. Lessee agrees to use each Unit only for the purpose for which it is designed arid. in accordance with all applicible laws and
<br /> regulations. Lessee, at its own cost and ~ense, shall keep the Units in good repair, cm on and working order· Any additions and
<br /> improvements made to the Units shall t~ .ome the property of Lessor.
<br />
<br /> b. Lessee assumes and shall bear the risk of loss and damage to the Units from any and every cause whatsoever. No loss or damage
<br /> to tlie Units shall impair any obligation of Lessee under the Lease. Lessee assumes all risks and liability for the Units and for the use,
<br /> operation and storage thereof, and for all damages to persons or property howsoever arising from such use, operalion or storage and
<br /> agrees to indemnify and hold Lessor harmless from all of the foregoing· Lessee shall maintain insurance covering the foregoing risks, in
<br /> form, amount and with companies approved by Lessor. Lessee sliall pay the premium therefor and furnish Lessor with evidence satis-
<br /> fi~ctory to Lessor of such coverage.
<br />
<br /> c. Lessee shall pay all license fees, registration fees, assessments, charges and taxes which may now or hereafter be i~nposed by
<br /> the United States of America, the State of California or any political subdivision thereof or therein, upon the ownership, leasing, rent-
<br /> ing, sale, possession or use of the Units, excluding taxes on or measured by Lessor's net inco~ne.
<br />
<br /> d. If Lessee does not pay any amount due or to become due hereunder or defaults in the performance of any of the terms or
<br /> conditions hereof, Lessor may, by written notice to Lessee, terminate all Lessee's rights hereunder and, thereupon, Lessor shall be
<br /> entitled to possession of the Units and shall have the right to recover any and all amounts then due or which may have accrued to the
<br /> date Lessor receives possession·
<br /> e. Upon termination of this Lease for any reason before the end of the full term, Lessee, at its cost, shall deliver the Units to
<br /> Lessor, at such place within the County where the Units are located as may be specified by Lessor, in as good condition as when
<br /> livered to Lessee, reasonable wear and tear excepted.
<br />
<br /> f. If Lessee complies with all of its obligations hereunder and this Lease has not been terminated before the full term thereof,
<br /> the Units shall thereupon become exclusively the property of Lessee, flee and clear of any liens and encumbrances.
<br />
<br /> g. Lessee shall not assign, sublet or create a security interest in this Lease, the Units or any of its rights therein, without the prior
<br /> written consent of Lessor. Lessee acknowledges that the terms and conditions of this Lease have been fixed by Lessor in anticipation
<br /> of its being able to sell and assign all of its fight, title and interest in this Lease, the Units, and all amounts payable under the Lease, to
<br /> the Bank of America National Trust and Savings Association (the "Bank"), which will rely u on and be entitled to the benefits of this
<br /> paragraph; and Lessee agrees with Lessor and the Bank as follows: (i) ~o recognize such sale, ~i~) to accept the directions or demands of
<br /> the Bank in place of those of Lessor, (iii) to make all payments and render performance hereunder to the Bank notwithstanding any
<br /> claim or offset which may be asserted against the Bank, or any default by Lessor with respect to any obligation Lessor may have to
<br /> Lessee contained herein or otherwise, and (iv) not to require tlie Bank to perform any express or implied obligation required to be per-
<br /> formed by Lessor hereunder, all rights of Lessee in any such connection being waived as to Bank. Nothing hareinbefore contained shall
<br /> relieve Lessor from its express or implied obligations to Lessee hereunder. Subject to the foregoing, this Lease inures to the benefit of,
<br /> and is binding upon the successors and assigns of the parties hereto.
<br />
<br /> h. Two counterparts of this Lease have been executed by the parties hereto. One counterpart has been prominently marked
<br /> "Lessor's Copy". One counterpart has been prominently marked "Lessee's Copy". Only the counterpart marked "Lessor's Copy"
<br /> shall evidence a monetary obligation of Lessee.
<br />
<br /> i. This Lease shall be govemed by, and construed under the laws of California,
<br />
<br /> · Spedal conditions: Purchase Option '
<br />ring the term of.this lease, as consideration for Lessee's execution of the
<br />ase, the lessee shall have the option to purchase the property subject to the
<br />ease, upon payment of all principal and xnterest due as measured by the
<br /> taehed amortizatxon schedule. '
<br />
<br />IN WITNESS WHEREOF, the parties hereto have signed this Lease the day and year f~st above written.
<br />
<br /> Western Tractor Co. City of Pleasanton
<br />
<br /> By
<br />By TITLE TITLE
<br />
<br />Approvcd for Lessee: By TITLE
<br />
<br /> By
<br />By TITLI~ TITLE
<br />
<br /> ASSIGNMENT
<br /> FOR VALUE RECEIVED, the undersigned does hereby sell, assign and transfer WITHOUT RECOURSE to Bank of America
<br /> National Trust and Savings Association (the "Bank") all of its right, title and interest in and to the following property (the "Property"):
<br /> the above Lease Agreement dated November 12 ' ,1~1 (the "Lease") between the undersigned and
<br /> City of Pleasanton , (the "Lessee"), the equipment described therein (the "Units") and
<br /> all amounts payable thereunder. The undersigned represents and warrants that (i)it has the legal right to make this sale and assignment;
<br /> (ii) the Property is free from all interests, liens and encumbrances, except for the interest being conveyed hereunder and the interest of
<br /> the Lessee therein; (lii) the above counterpart of the Lease is the only counterpart thereof evidencing a monetary obligation of the Les-
<br /> see; (iv) all Units have been delivered into the possession of and accepted by the Lessee and Lessee has not defaahed under any pro-
<br /> visions of the Lease; (v) application has been made for California registration with Bank as legal owner with respect to each Unit which
<br /> is a motor vehicle subject to registration; and (vi) the sales or use tax set forth in the Lease has been or will be paid by the undersigned
<br /> to the appropriate authorities.
<br />
<br /> The undersigned unconditionally promises, in the event of a breach of any warranty or representation herein contained, to re-
<br /> purchase the Property on demand from Bank or its assigns for all unpaid rental charges due or to become due less that portion of the
<br /> rental charges representing interest charges on net rental, from the date of payment to the end of the full term of the Lease.
<br />
<br />DATED AT , California ,19
<br />
<br />Western Tract.i_on Co.
<br />By
<br />
<br />TITLE
<br />
<br />
<br />
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