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46
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TER.N'IS AND CONDITIONS OF ANVi M, ('TWELVE MONUHS) LEASE
1) TERM OF LEASE -.The lease,shall be in full force and effect for twelve mo3rths beginning with the effective
date indicated -on the face of this contract ai{d shall automatically renew from year to year on the anniver-
sary unless ter ihinated as provided below: The [eased items at all times remain the property of Lessor.
Added produt'ts will be billed fear full a4itntph deiivery and prorated on next effective date.
2) SERVICES LEASED: This lease prbN,ides;f',pse the -most current information avai. :)le. Updated infor-
r oration �vi11 be 4eltcered when ati nrlable eliye of updated information is independent e)f billing cycle.
You will be billed in conjunction with 4armieprsary of your annual il`_'-nnonth) agreement.
3) UPDATED SER\'ICES: If this lease itrcluXs periodic (fveekly. monthly, quarterly. et. al.) update ser %rice and
for reasons rniavoidable as deter mined r-41ess4t, a, rip' dic update is not delivered, the information will
be included in the -nest subsequent is t;'and V1 bct as a sLibstitute for the missed issue.
4) A. TERMINATION OF LEASE 1 ess&Jhay terminate the lease prior to am° Arnniversary Date. said
termination to ue el'fectiv6p n the annua�`tt`ln>iiversary Date pro,.ided written notice is given Lessor at least
thirty Get)) day", prier to �miversary bittand upon retunn of all leased items to REDI's home office in
:Miami, F lvrida. Lessor u-nll notify Lessei.&Ihe reneival Brice prior tothe Anniversary Date. If lease is not
terminated, by any Anmver§ary Date,,,E CG'0 k shall be extended'for one additional year, and shall
c time i . be:extencled"frgm } ear t Sa. terminated in accordance with the terms of this
paragraph. No (redit nl- refund 5hd1E� Many unused portion of lease period.
B. TWO AND THREE YEAR LEAS 9:- 6tw4thstandin9 the above, (paragraph 4A), two 0and three (3)
year lease may not be caiwelled pnor-to j v ifid of'the lease period indicated on the face of this contract. At the
expiration of the two and?twee year leatsepenpd, the conditionoutlined in paragraph 4Awill then apply.
RJ;NEWA1, OI'' LEASE OR `5LRRFNDg# Of MATERIAL:
A. i Products provided are the exclusive property -of Lessor. Upon expiration of this lease, the Lessee must
either renew the'ea e or return tfie lea tliroiiucts and/or equipment to Lessor's home office in Miami,
Florida +except it, Akhattan.-who may return to regional office in New York City) at
Lessee's expetnse.
B. If Lessee neitUr renews the lease agreement 1)6r returns the leased material, then title to the leased
material shall be immediately vested in Lessee and Lessee shall be indebted to the Lessor in an amount
.equal to the current annuall base charges fexcept:n ?Manhattan which is an amount equal to five (5) times
'the annual rental charge for the Select Register^Iiervice and tw(, r2) times the annual rental charge for all
other products ) foreach vearof leasemateri4not returned to lessor, said amount shall be immediately
due and payable.
C. if it becomes'necesstu-y for the Lessor to e0or6ethis contract through an attorney or collection agency,
Lessee agree.5 to pay all reasonable attorngy's-fees for collection:.
g) RETURN OF PREVIOUS EDITION Upon delivery of updated services and at the discretion of REDI
Realty Service, all previous services must be returned to REDI. Should Lessee fail to return all previous
services as herein requested, the Lessee will he indebted to the Lessor as covered in Paragraph 513 and 5C.
7j ASSIGPiMEN71': Lessee may not assign this agreement without Lessor's written consent.
8) CHANGES IN AGREEMENT: 'Phis lease agreement contains the entire agreement between the parties
respecting the items leased and any representation, prorruse or condition, written or verbal, not incorporated
herein, shall not be binding on either party. No modifications to the printed provisions of this agreement
shall be effective unless and until approved at the home office of Lessor.
J) MAIN I'ENk CE: Lessor agrees to maintain allleased items including the microfiche reader/reader-printer
with the exception of the projector, lamps which shall be purchased by and paid for by Lessee. Lessee agrees to
keep said nnaterial at the above address aid not to rimove them without first obtaining written consent of the
Lessor. Lessee agrees to maintain said materials in an orderly and clean manner and to protect them from
unnecessary damage. Lessee acknowled&es that when received, the above materials are in good condition,
and in proper order, and agrees to surrender them up to Lessor in like condition, reasonable wear and tear
excepted.
10) DA.NIAGE TO MICROFICHE READER/READER:,PRV TER: Lessee agrees to hold harmless and in-
demnify the Lessor for and against any loss or expense of any kind arising out of alleged damages to
persons or property resulting from operation of equipment herein leased and in possession of Lessee and
Lessee agrees that in the event of damage to the readerlreader-printer as a result;of Lessee's negligence,
Lessee will replace and repair said equipment with authorized parts, at Lessee's expense.
11) LOSS AND DESTRUCTION: So long as Lessee shall have the leased materials and/or equipment in its
possession, the Lessee shall be responsible to Lessor for the purchase value of said materials and/or
equiment in the event of loss, damage, or destruction, whether the loss is occasioned by fire, theft, or any
cause whatsoever, and Lessee shall maintain adequate insurance thereon.
12) LATE PAYMENTS: Should Lessee's scheduled payments be deemed by Lessor to be delinquent the entire
outstanding balance is immediately due and payable to Lessor upon receipt of written notice by Lessee.
Delivery of updated set -vices may be withheld if payment is not made in accordance with the terms of this
lease. NG`ithholciing of the update service does not affect the Lessee's obligations under this agreement.
13) LIENS AND TAXES: Lessee shall also promptly pay all taxes, penalties. and interest, however designated
which are lelied or based on this lease, the leased ser--ices and/or reader; reader printer (or their use, lease,
operation, control or value), including, without limitation, personal property taxes, state and local privilege
or excise taxes based on gross revenue. and any penalties or interest in therewith or, taxes or amounts in
lieu thereof paid or payable by Lessor or Lessee in respect of the foregoing. but excluding taxes based on
Lessor's net income. Lessee -,'mall keep the equipment free and clear of all levies, liens and encumbrances.
PLEASE MAKE ALL CHECKS PAYABLE TO: REDI
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