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_ . Mobile Modular Management Corporation Lease Agreement
<br /> ����� 1100 State Hwy 559 Contract: 240003823.1
<br /> � Aubumdale, FL 33823-9356 Contract Term: 24 Months
<br /> ������� � Phone: (863) 965-3700 Fax: (863} 965-7814 Date Printed: 12/12/2011
<br /> ��„a�hr.MobileMocFUIarRPnts com
<br /> '�"';''"'�`. "°, � Start Rent Date: 12/14/2011
<br /> initial Lease Term. Dismantle, charges upon return and other charges related to the retum of the Equipment may also be revised by Lessor for
<br /> such extended Lease Term.
<br /> 5. LESSEE AGREEMENTS. Lessee agrees that:
<br /> (a) Lessor may insert in the applicable Agreement the serial number and other identification data relating to the Equipment when ascertained
<br /> by Lessor; and
<br /> (b) Lessor (or its agents, employees or contractors) may, from time to time at any reasonable time, enter upon the premises of Lessee for the
<br /> purposes of (1 } inspecting the Equipment or posting °Notices of Non-Responsibility' or similar notices thereon, or (2) photographing the
<br /> Equipment, including any items or occupants within or surrounding the Equipment, for promotional or other purposes. If Lessor determines
<br /> that repairs to the Equipment are needed, Lessee shall grant access for said repairs. Lessor shall bear the expense of any repairs that it
<br /> determines are needed to ameliorate normal wear and tear; the expense of all other repairs (including any repairs requested by Lessee) shall
<br /> be borne by Lessee. If Lessee does not grant access for such repairs between 8:00 a.m. and 5:00 p.m., Monday through Friday, Lessee shall
<br /> bear the cost of repair rates for labor at the applicable overtime rates.
<br /> 6. SECURITY DEPOSIT. Upon the signing of any Agreement, Lessee shall provide to Lessor the Security Deposit specified in such
<br /> Agreement. The Security Deposit shall be held by Lessor (who shall have no obligation to collect or pass through to Lessee any interest
<br /> thereon} as security for Lessee's faithful performance of the terms and conditions of the applicable Lease, including without limitation Lessee's
<br /> indemnification obligations under Section 12 If an Event of Default occurs, Lessor may apply the Security Deposit to payment of its costs,
<br /> expenses and attorney fees in enforcing the terms of the Lease and to indemnify Lessor against any costs, expenses or damages sustained
<br /> by Lessor in connection with the Lease (provided, however, nothing hereir► contained shall be construed to mean that the recovery of
<br /> damages by Lessor shall be limited to the amount of the Security Deposit). In the event all or any portion of Yhe Security Deposit is applied as
<br /> aforesaid, Lessee shall deposit additional amounts with �essor so that the Security Deposit shall always be maintained at the amount
<br /> specified in the Agreement. At the end of the Lease Term, Lessor shall apply any remaining balance of the Security Deposit to the payment of
<br /> any monies owed to �essor under the Lease. Thereafter, if no Event of Default has occurred and is continuing and Lessee has complied with
<br /> Section 3, Lessor shall retum to Lessee any remaining balance of the Security Deposit.
<br /> 7. ASSIGNMENT. Lessee will not assign, convey, transfer, or hypothecate its interest, or any part thereof, in and to any Lease or the
<br /> Equipment, whether voluntarily or involuntarily, without the prior written consent of Lessor; and any such attempted assignment, conveyance,
<br /> transfer, or hypothecation, whether voluntary or involuntary, shafl be null and void, and upon any such attempted assignment, conveyance,
<br /> transfer, or hypothecation, Lessor may, at its option, terminate the Lease. Lessor may, at its option and without the prior approval of Lessee,
<br /> transfer, convey, assign or hypothecate its interest or any part thereof, in and to the Lease. It is understood and agreed by Lessee that Lessor
<br /> may be acting as an agent for the true owner of the Equipment (the "Principal"), and that such Principal, if any, shall have alt the rights and
<br /> protection of Lessor hereunder.
<br /> 8. PAYMENTS. Lessee agrees to pay to Lessor (at the office of Lessor or to such other person or at such other place as Lessor may from
<br /> time to time designate to Lessee in writing) each payment specified herein on a net invoice basis without demand by Lessor. All payments due
<br /> from Lessee pursuant to the terms of the Lease shall be made by Lessee without any abatement or setoff of any kind whatsoever arising from
<br /> any cause whatsoever. If any payment is not received by Lessor within five (5) days from the date due, Lessee shall pay Lessor interest at the
<br /> rate of EIGHTEEN PERCENT (18%) per annum (or at the maximum rate permitted by applicable law, if less) on such payment untit received.
<br /> In order ta reimburse Lessor for resutting administrative expenses, Lessee shall also pay a late charge of TWENTY-FIVE ($25.00) for each
<br /> delinquent payment each and every month that such payment(s) remain(s} delinquent.
<br /> 9. TAXES AND LIENS. Lessee agrees to keep the Equipment ftee of all levies, liens or encumbrances. Lessee shall, in the manner directed
<br /> by Lessor, (a) make and file alt declarations and returns in connection with all charges, fees and taxes (local, state and federal) levied or
<br /> assessed either upon Lessee or Lessor, or upon the ownership, leasing, rental, sale, possession, use, or operation of the Equipment, and (b)
<br /> pay all such charges, fees and taxes. However, Lessor shall pay all local, state or federal net income taxes relating to the Lease. If Lessee
<br /> fails to pay taxes and charges as required by this Section, Lessor shall have the right, but not the obligation, to make such payments. In the
<br /> event that Lessor makes any such payments, Lessee shall reimburse Lessor for such costs as deemed appropriate by Lessor and as invoiced
<br /> by Lessor.
<br /> 10 LOSS OR DAMAGE. Until the Equipment is retumed to Lessor, Lessee assumes all risk of loss or damage to the Equipment. Subject to
<br /> Section 12(¢], should any Equipment damaged be capable of repair, the Lease shall not terminate, but Lessee shall cause the Equipment to
<br /> be repaired and restored to its condition existing prior to such damage, at Lessee's sole expense. Lessee shall be entitled to the benefit of the
<br /> proceeds from any insurance recovery received by Lessor, up to an amount equal to that paid to Lessor pursuant to this paragraph.
<br /> 11. INSURANCE.
<br /> (a) Lessee shall provide, maintain, and pay all premiums for insurance covering the loss, theft, destruction, or damage to the Equipment in an
<br /> amount not less than the full reptacement value thereof, naming Lessor as loss payee of the proceeds. Lessee shall also provide, maintain,
<br /> and pay all premiums for public liability insurance (minimum of $1,000,000 per occurrence), naming Lessor as an additional insured. All
<br /> insurance shaA be in a form and with a company satisfactory to Lessor, and shall not be subject to cancellation without thirty-(30) day's prior
<br /> written notice to Lessor. Lessee shall deliver to Lessor insurance policies, or evidence of insurance related thereto, meeting the above
<br /> requirements. Proceeds of such insurance shall, at LessoPs option, be applied either towards replacement, restoration or repair of the
<br /> Equipment or towards payment of Lessee's obligations under the Lease. Lessor may require Lessee's insurance carrier to be licensed to do
<br /> business in the state where the Equipment is being leased.
<br /> (b) Should Lessee fail to provide satisfactory proof of insurance prior to delivery of Equipment or at any time during the Lease Term, Lessor
<br /> shall have the right, but not the obligation, to obtain such insurance and/or make such payments. In the event that Lessor makes such
<br /> 240003823, Printed: 12-12-20'I 1 1128AM Thank you for contacting Moblle Modular.
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