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Home My WebLink AboutC2007-372 - 10/22/2007 - NA'"'~,~ Mod~pa,ce~' RETURN EQUIPMENT TO ModSpace: CORPUS CHRISTI 6161 AYERS CORPUS CHRfSTI TX 78415-5905 Telephone: 361-852-7586 1-80D-523-7918 Fax: 361-857-0730 ~EAS~AG~~EMEI~r Igo.: 2~055~ I~~~~~uAl AcREEME~r rvo.: ~~2 ACt;~UI~T 1~4.; ~~~~~~ CUSTOMER i,1D.~ ~ ~~~~ Modular Space Corporation, a Delaware corporation ~"lUlodSpace"~ hereby leases the equipment specified below {the "Equipment"~ to: CITY aF Co~PUS CHRlSTi P.O. BOA g2~~ CORPUS C~fRISTI T~ X6469.9211 Customer Contact: Peter M. Davitlson Telephone: 361-82-133 Fax; 361-8~3~178 P.O. #: T-Head The Equipment will be located at ~sub~ect to Section ~ on attached page: T-Heed Marina Corp~,s Christi TX 1848 Customer hereby leases Equipment from Mod~pace for a minimum period of 3~ months the "Minimum Lease Period"~ from the start ofthe lease term in accordance with the terms and conditions of this lease Agreement including the terms and conditions set forth on the attached page this "Lease"~, Rental month is defined as a thirty~day period, Customer agrees to pay I~odpace wi#hout demand and in advance the monthly rental and othercharges on the due dates set forth in this Lease, This lease is hereby renewed as of the 2nd da of November 201. ~~ ~ Unit 'Class ~ ~-- .. _ _r _ . __ ------ , ,. _. _....__._._ -~------ ----- - -- -- - ----...-- - _-~~.._- ------ -~------ -- ~.~ 11Nidfh --,_ Length e~al-No. Monthly .. _. - . , ...-... UVeeki SNL~4 ~ --...--- - ---~ -~----..-------- . --- ._.~_ Daily_------..- -~..--__Vaiue ~~ . --- ----- -. ---~ -- . - ----.- ~ n sura nce 08~3~ 5 --- ~ - ------ .. ---i 7 ~' ~ ~~' ~ ~ ~~~3~T $~43. ~~ $~ X4.96 ~ 7 ~ --- . --- .. .--- - - - ~ 3~ X83 ONE TIME CHARGES ----- .----- ~.RETURN DELIVERY _ BUILDING RETURN . QISMANTIING ------ ~--- - - -._ -- - ----- .- - ---- - .---- UNBI.OCK ------ -- REMOVE ANCHgRS~'IEDOWN~ {Qty; 24~ '~' Billed at Termination Total '*`r Billed at current rate atTerrninatlon - ~- -----J --- . _-.. , ---- ~~ MONTHLY CHARGE5 -... --------~ UNIT - -~--------- ------ - -~~ 00 ,.. -.--- Total Monthly property Tai Grand Total~Monthly~ DAILY: $~7.8b WEEKLY; ~~24.96 #Tax ra#es wlli vary with delivery address~Taxes are subject to c#tange by ta~c authorities without notice, ---.----~----- ..Y--, $x+43, 00 _ X23, 0~ $56fi, g~ No agent, employee or represenlati~re of ModSpace has any authority to make any representation orwarranty cflnoemir~g the Equipment that is not s ecilicall included in #his lease, klniess specifically identified in this Lease, this lease supersedes all prior ne otialions ro sots and locum p y ~ a P Po cots. This Lease w~l! riot be subject to any additional provision that may be cor~lained in the Customer's purchase ardor, although Custorne~s purchase order number may be used b the artier as a convenient reference for invoicing purposes, Y p The attached page contains Terms and Conditions that form an integral part of this Lease. Those #errns and conditions include but are riot limited #o ~dlIiscff~~~aiQQmQQeQQr//s of warranties of merchantability and fitness and limi#ations on damages. T e only other documents that form a part of this lease are: ~+~V2d~I111"'~rN~N Signed by d h z d agentst with the # to be legally bound, #his da of ~~ Y By ~y rpo 'on AUTI~ORI~~~ A~~NT ~5 OMEN OR ~UTHORI~Ea AGE~fT Name BRADLEY CLARKE Nam ~ ~~ l leap p~rny ~ao~~~~ ~ ~~~~~~~ ModSpace i ~ ~ ModSpacea' ~,~A~ A~R~~MENT ~I~.; ~~0~55 R~~~w~a~ AGR~~ME~IT ~o.: 38~~~2 ~ccou~~ ~o~; fi7fi40~ c~TOMF~ ~o.; 3~ 0~0~ RETURN E~UIPNi~NT T4 N~adpace~ c~~~u~~~~T~ ~~ ~~ ~~~~ coR~us~~~r~ T~ ~~~~ ~~~905 T~I~phor~e. ~~1-85~-1~~6 1-8~0-~3-718 Fay. 3~~-X57-~~30 Con#in~e~~ Ac~ep~ed and ael. By: --~---~---------------...----. ..._..._. ~ate~ - -.----- ~reig~~ Vender ~em~rks; Received and Ac~ep~e~ By: __. _-.-- ..-. _ -- -----____-- ~a~e; -- I~ame; {please print} +~ Modpa~e~' RETURN ~QUIPM~lVT TO ModSpace: CORPUS CHRISTI 61fi1 AVERS CORPl1S CHRISTI TX 78415-5905 Telephone: 361-852-7586 i -800-523-791$ Fax: 361-857-0736 LEASE AGREEMENT N~.~ ~~0~~ RENEWAL AGREEMENT t~~.: ~$~~G~ ~cco~Nr ~o.; fi7640 CI~T~MER NO~. ~~ O~o~ Modular Space Corporation, a Delaware corporation ~"ModSpace"~ hereby leases the e~uiprnent specified below the "Equipment"~ to. CITY OF CARPUS CHRISTI P.O. UO~ g27~ ~ORP~ CHRISTI T~ 18459-8277 u~tomer Contact: Peter M~ Davidson Telepl~orre~ X51-~8~-~33 Fax: fib-882-~~T$ P.O. #: T~l~ead The Equipment will be located at subject to Section 4 an attached page: T-Head Marina Corpus Ci~risti T~ 7$~~8 Customer hereby leases Equipment from ModSpace for a minimum period of ~~ months ~t~e "Minimum Lease Period"~ from the start of the lease term ire accordance with the terms and conditions ofthis Lease Agreement including the terms and conditions setfor#h on the attached page this "Lease"}, Rental month is defined as a thirtyday period Customer agrees to pay ModSpace without demand and in ad~rance tfre monthly rental and other charges an the due dates set Earth in this Lease. This lease is i~ereby renewed as of the end da~,of Novernlaer 20a~. -~ -. - ----- ..._r.t..- -., _ Unit _ ~ Mass 1Ni~th Length . _ penal hfo. ~Manti?IY_._.....-, -- -~e~'-. .---- ~ai~y -- _ -T-- Insurance Value ----. _ . , .---- -- ~---.__~ _ __ .. ---- -- - ~---- ---- ~ - --- . _._r -- -- ENE T1~11E CHARGES MONTHLY-CHARGES _-- ...-..Y F RETI~RN DELIVERY UNIT $~43. gg __- BUILDING RETUR#V~ ' ~*' Total X543, a4 i.~~T---~-----~-~ - --------------.....-~.- -----._.__ _... ------.~ Monthl Pro a Tax $~3~ 05 QESIVIANTLING Y p .~ --------~-~- ~ -- --..-~----~~-~---- -.-. _ ..- ~-- --~-------~-- _ _~--- ---- Grand Total~Manthly~ $~55.0~ ~. UNBtOCt{* -~ ----~- ~ -- ~ ~ ---- ----- .... ---~-- ~ ** ~ .. -- ._ REMOVE AN_CH~R~I~I~~~WN5*--{~~-~ 24~----~---- _.....- ~'._**~ ----- '~' Billed atat Termination Total fig, ga GAILY: ~~. g~ '~~' Bi~1ed at current rate at Termination WEEKLY $t 24.96 #Tax rates will vary with delivery address,Taxes are subject to change by#a~t authorities without notice, No agent, employee ar representative of i~odSpaoe has any ~ulhority to make any representation orwarranty concerning the equipment that i not specifically included in this Lease. lJnless specilrcaRy identified in this Lease, this Lease supersedes all prior negotiations, proposals and documents. This Lease will not be subject to any additional provision that may be contained in the Customer's purchase order, although Customers purchase order number may be used by the parties as a convenient reference far invoicing purposes. The attached page contains Terms and Conditions that farm an integral part of this Lease, Those terms and conditions include but are not limited to disclaimers of warranties of merchantability and fitness and limitations on damages T e only other documents that form a part of this Iease are: USgfi~998A. Signed b dul or e a ,with ntent to be legally bound, this ~ day of 20,. sy gy u ar ace Corpor ion AUTl~~RI~ED AGENT ST R OR AU~`HORIIE~ AGENT N me ~ Name BRADLEY CLARE~E a Cpl se prir~~] n ModSpaceb' R~TU~N E~UIPMPNTT~ I~odpace; C~RPU ~HRIT~ ~~~~ AY~R~ CARPUS CHRISTI TIC 78~~~-5~~5 Te~e~hor~e: ~6~-852-7586 ~-8~~-X23-798 Fay: 36~-$57-736 ~~.7~ ~~~~E~~I-~ ~~~~ ~~~~~L ~~~Ew-~~ ~ac~~~~~Nr ~o.; ~83~fi~ ~a~c~~~r ~o.; 676403 ~us~a~~~ ~~.. 3 ~ ~70~ {~~r~tinued} Accepted aid del. By: Dade, Frei~hR Vender ~emafk5; R~~e~ved aid Accepted ~y. Date. ~~~lE: ...,_.... -- ~ -~--- --- ~P~e~se prinl~ ....- ----~------ ------- ~; Mod~paee' T~RI~S ADD ~QNDITI~NS ~F L~AS~ A~R~EMENT farm. U~fi~~9~A ~,easc "!'his transaction is an aperatirtg lease and not a sale. Customer does not acquire through this !.ease or by payment of rental under this Lease arty right, title or tnterest to ar to the Equipment, exccl7t lhG right to possess and use the Iquipment sa long as Customer isnot in default under this Leasc. Ilcrital anal Uttycr Payrncnt5 . a The start oi' the !case term is the date on -vhich ~lodspace substantially completes its scope afwork for installation, artless athertivisc agreed to arnang the panics. Month! rental will accrue through and including the month in which the later oE`thc jZeturn Date ar I+nd of the Tenn accurS. Tltc lte[urn Date is rite date an lvhlch the l;quipmcr~t is retumcd to Mod5pacc in accordance with the terms of this Leasc. The "land of the Term" is the date on which the term of this Lease is to expwre, ctt er on inall , under a renewal temp or under month-ta-month rcrtcwals as contemplated by this Leasc. Rental and such other charges will be prorated an a daily basis where ~ y necessary. Unless otherwise speciCed in this Leasc, charges for delivery and installation, initial month s rent and any applicable initial charges for the Opt~ona nsurancc Pra ram and I?amagc Waiver will be due and payable at the start of the lease term, and charges far tcardo-vn and return will be due and payable at the earlier al the ~' Return Date or the End of"l`cmti. After payment of the initial month's rent, each month's rent thereafter is due and payable without demand and in ad-~ance {i) at ~fxe end of each thirty (3U) day period !'alto;~+ing the cammcncemcnt ol'the lease term, if a rental month is dclincd on the first page of this Leasc as athirty-day period ar (ii) on the Cyst of each month immediately following the month in which this lease commences, if a rental moot!! is defined vn fire first page of this Lean: as a calendar month.eAbll other sums payable by Customer urtdcr this i..ease are clue and payable when invoiced. Unless agreed otherwise, all payments made under titss Lease ~v~ll be mad y Customer's check drawn on its regular bank checking account or such other farm of payment as is acceptable ro ModSpace~ A!I payments by Customer will be made tvithaut setai~'or dcductinrt of any kind, fib) Customer will pay Mod5pacc for any and nil sales and use taxes, other direct taxes and registration fees imposed by atiy city, county, state, ar fcdcral government or other taxing authorities and rclatccl directly or indirectly to the Equiprent or its use, excluding federal ar state taxes relating to income fall of the foregoing that Customer is to pay, "Taxes"~, Taxes may be allocated by Mod5pacc are either anindividual or prorated basis for any item of Equipment based on purchaser price, value, possession, use, location, rentals, clelivcry ar operation of such ~quiptncnt. Taxes may include art aliocation~b~ Custamcr will pay Mod5pacc for any and all sales and use taxes, other direct taxes and registration fees impase~i by any city, county, state, or fcdcral governntcnt or other taxing authorities and related directly ar indirectly to the equipment ar its use, excluding federal or state taxes relating to income (all of the foregoing that Customer is to pay, "Tuxes"). Taxes may be allocated by Mod5pacc on either an indi-~idual ar prorated basis for any item of equipment based on purchase price, value, posscssran, use, location, rentals, delivery yr operation of such ~quipmcnt, Taxes may include an allocation an a statewide basis ol'locally imposed taxes, Custame~s obligations under this Subsection will survive the termination ofthis Lease. {c} l~or Customer's canvcniencG, Mod5pacc intends to issue invoices far amounts due under this Lease, If Customer fails to pay any amount due within t~~renty ~?4~ days of the due date, Mod5pacc may impose a charge an such amount at one artdone-hat f percent ~l -l~~°In)per month or the ltighcst rata pe»tittcd bylaw, wilichcver is lover, from the rlue date ut~tii payment in i'ull is received by Mod5pacc. All Urban ~cl~ When tl~e Lease term exceeds elcwcn (I 1) months, tits rental charge may, at Modpace's option, be adjusted upward, based upon the Consumer Price Index, Consumers, L].5, City Average, Ali Items ~"'CI'I") ~Urtited States Bureau of l.abar Statistics or such other index as may succeed the CP;~, as falloti~~s: per each cha~~gc of rrnc percent ~I°!o~ in the Cl'1 from the Cpl as available immediately prior to the start date oftlris Lease, the renal rata will be adjusted by a factor of one percent ~l°I~). Any adaustmcnts will take effect at six fib} months following the start date ofthis Lease and will be further adjusted each six (6} mo~~ths thereafter. The adjustment tivill be based an the most accent CPI indices available prior to the invoice in which an adjustment is made. Dclivcr`y and lnstalla#ion {a} Customer ~vill provide face and clear access far delivery of the equipment by standard mobile transport vehicles. Customer -vill be solely respansible, at its cast, for preparation of the site on ~~+hich the pquipmcnt is to be used (the °'Site"), including any a~equired structural or grade alterations and identiCcation of utility lines. Customer ~viil provide ~rrn and level ground on na more than asix-inch ~G"~ slope front one end to the outer for safe anti unabstructcd ins~allatian for the Equipment, Site selection is the sole responsibility of"Customer. A+IDHSI}ACC dSSU~II;S NO LIAI3ILI'CY NOR ~FEERS ANY WAI~RAN~'Y FaR THE I1I7`N1fSS OR ADEQUACY ~1+, QR'I'HE [J'l'lial'l'IES ~tYAILAI~LE A'T"l`HE SiTE~ . {b} Custamcr wit! !rave sole responsibility, at Customer's oast, to obtain any and ail licenses, titles, building and other permits artd any other approvals artd certificates as maybe required by lower otherwise for the installation and placement ofthe Equipment and Customer's lawful operation, possession or occupancy of the Equipment, Customer agreGS that all certificates al'title or registration applicable to the Equipment will reflect ModSpacc's ownership of the Equipment. ~c} NiadSpac~:'s delivery of the ~quiprncr~t is subject tc~ delays in manufacturing, n~adiiicatian, delivery or installation clue to lire, Road, windstorm, riot, civil disabcdience, strilcc or other lobar actions, acts of Gad, or tiny circumstances beyond MadSpacc's control (including but oat limited to breaches by ModSpace's sub-conractors nr rnanufacturers~ wlyich delay the manufacture or moclificati:on of products or the making of dcliverics in the norrrtal course of business, ~d) The prices for delivery, installation, teardown, return delivery and other "one-time" charges, the due dates of such charges and the Starr date of this Lease assume accuracy of the infarmati~tn given to Mod5pacc with respect to Site canditians and locations and are subject to adjustment to the extent that the liming of or pltysicai mature of access to the: Site is or becomes limited, the Site does oat have adequate load bearing or topographic qualities or is otherwise oat properly prepared, utilities are not correctly loeaced, provision of` utilities is oat timely or applicable licenses ar permits arc not provided in a timely manner or Customer ather~visc delays campiet~an of MadSpace's scope: of work. {e) Mod5pacc may suspend work a~ the Site if MatlSpacc deems the Site to be unsafe. rYlaintcnanee of Er~uipmerr# ~a} Customer will not move ar in any way modify tlyc Equipment without written consent of ~iod5pace. Nat-vithstanding IvladSpace's consent to Cus[ame~s modification of the Equipment, Customer is liable far the cost of the t'cmaval ofsuch mode#icatian or restoration of ilte Cquipment upon the terminatiot of ibis Leasc for the rr~odilied Equipment. ModSprlce may place its rtantG on the Equiprwtettt, and Customer will assure that such name is not removed ar concealed in ~vhoic or in parr, {b) Custamcr, at Customer's sole cost, wile keep the Equipntertt at ale times until the ReturnDate ingood repair and operating condition, subject to ordinarywear and tear, and free of arty and all lions and encumbrances. i1+IodSpacc will have the right to inspect the Equipment Pram time to time until the Returlt Date and il' Ivlori5pacr; believes the Equipment to be misused, abused or neglected, Mac3Spacc may summarily remove and repossessthe Equipntertt at Customer's cost. {c} Custamcr will perform, c:xecurc and comply with all Laws which in any way affect the use, operatiatt, rnaintcnance, ar storage of the Equipment, "'Laws" means all laws, rules, regulations ar orders oCany governmental agency ar instrumentality of the United States, Canadat any slate, province, municipality ar other local government and all orders, 4vrils and decrees ol` any court, tribunal or administrative agency, in any case which na-v exist ar hereafter arise ~inciuding but not limited to laws governing E~lazardous Sulstances anal other cnviranmcntal risks and the Americans -vith bisabilities Act). Custamcr will not make ar per€nit any unlawful use or handling of rho Equipment, ~d} 1~111~A1~DQUS 5Ui35'I'ANCES. (i} "I~Ia~ardous Substances" means hazardous, toxic, radiaactivc ar hio•haxardaus substances or petroleum products. [ii) Customer will not use ar store l~axardaus Substances in the bquipment, except such substances and in such quantities as would benarmal in the aperat~on ofa cornmerciat aflrce, Customer -vill oat locate tltic Equipment at a remediatian ar nuclear site or use the Equipment for medical laboratory testing. (iii} tardinary wear and tear fines riot include coritaminatian by 1-larardous Substances, 1f artyreturned Equipment is found to have been contaminated by i-la-r_ardous Substances during Customers passessian, Mod5pacc may cl~argc Customer for the clean up or may require Customer to purchase the Cquipment at the them current r~arkct price charged far an uncontaminated unit, . fie) Customer agrees that the Equipment leased hereunder will not be occupied by any person other than Customer or its agents, employees or inv~tecs, The Equipment will not be used far resiclcrttial ar dormitory purposes, NO VVARRAN7'Y I±DIi MERCHANTAIiII~1TY DR FI'T'NESS THERE ARE N~ 4VARRANTI~:S, EJiPRESS OR Ii41PLTT;I), AND ALL WARRANTIES ~F ANY it;INl?, INCLXJIlII~ AMY EXT'RESS 4R Ii~IPIaTED WARRAN'rv OI{ l~fEI~CHANTAI3TLTTY 0R T~'1TNE55 FOIL >~URP~SE, ARE HERTs`T3Y ~~iCIfUUED T3~TH A5 TO THE TrQUiP1~iT?N'l" ,ANT] AS TQ ANY INSTALI,ATIO~I, MA[NTF,NANCE ~R RI?PAIR UVUT;I{ PERIi~Ri~IED l3Y I-'1DD51'ACE ~N THE EQU1T'11+I1:NT, ~~ ~^a ~~~~~}+ Form: US062998A Vii TERMS AND ~ONDl~'~DNS ~F LEASE AGR~EM~NT Litrtitatlon of Damages Customer does hereby expressly waive any and all claims and demands for lass of profits or other alleged consequential, incidental or punitive damages arising out of or in connection with this Lease. MadSpace is nut liable far any loss or damage to any property stored, located or transported in, upon, under or around any equipment and Customer does hereby waive any and all claims anddemands for any such toss or damage. End of Lease ~a} Unless specified otherwise, Customer must give llriodSpace sixty ~6D}days' prior written notice of the date an which the lquipment is to be resumed. fib} If Customer, without any furtherwritten agreement, continues to possess or occupy the Equipment after the expiration of the initial and any renewal term of Lease, with or without consent ofl~rladSpace, Customer will then be deemed to have renewed this Lease an a month-to-month basis subject to such rate as MadSpace declares to he in effect {and in the absence of such declaration at the last monthly rate applicable to the )equipment}, and 1~IodSpace may terminate such month-ta-month extensions at any time. {c} If, at any time after the initial or any renewal term (or at IVIodSpace's request at any time this Lease is on a month-ta-month basis}, ivfodSpace requests the return of the Equipment, Customer will return the Equipment to ll+ladSpace, within five ~5}days, at ModSpace's designated address, at Customer's sole cost. Missing accessories, attachments ar other items, repairs of any kind and restoration to original specifications whether due to Customer alterations ar otherwise will remain the sole responsibility of Customer, normal wear and tear excepted, (d~ Customer may terminate this Lease prior to the expiration of the Minimum Lease Period, subject to all terms and conditions of this Lease, and the Customer will pay (in addition to tear~down and return charges} the following termination charges; i) If Customer is the #irst user ofthe Equipment, the rernainirtg unpaid rental charges for the Minimum Lease Period; ii} If Customer is not the first user: ~A} if the Minimum Lease Period ~"MLI'"} is less than three (3) rental months, four ~4} times the Adjusted Weekly Lease Charge ~"AWLC"); {B} if the MLP is between three (3} rental months and six {b} rental months, inclusive, eight ~8} times the AWLC; if the MLP is more than six (6) rental months but one {I} year ar less, twelve {l~) times the AWLC; if the MLP exceeds one (1}year, fourteen X14} times the AWLC for each year, or portion thereof, ofthe portion of the MLP cancelled, iii The "Adjusted Weekly Lease Charger or "AWLC" means the WeeklyLease Charge less that portion representing amortization of any delivery, set-up, teardown, return ar similar one-time charges and customer-requested modifications not provided as a separate charge under the terms of this Lease the "Amortized One•Time Casts"} In addition, Customer will pay in full the unpaid Amartiaed One-Time Costs. In no case will the termination charges be in excess ofthe rental charge for the remainder of MLP. Indernnitication Customer hereby specifically indemnifies, agrees to defend and holds harmless MadSpace, its employees and agents from any and all loss, claims, lrabrlrt~es, damages, fines, forfeitures, seizures, penalties and expenses including attorneys' fees and investigative costs} (collectively "Lasses"} that may arise from or in connection with; {a}The loss of or damage to the Equipment priarto the Return Date because a(a} The loss of or damage to the Equipment prior to the Return Date because of collision, fire, lightning or theft, flood, windstorm or explosion, civil disturbance or riot or any otherperil or casualty; {b} The death of or injury to, including but not limited to, damage to the property af, any person {other than the Equipment) as a result af, in whole ar in part, the use or condition prior to the Return Date afore Equipmen#; {c}Any act or omission of Customer in violation of this Lease; {d} The actual or alleged storage, trraintenance, use, handling, repair, or operation of the Equipment, prior to the Return Date, including but rat limited to any failure to use anchor straps, any work done on, or any materials supplied to or in connection with the operation, maintenance, possession or storage of the Equipment and any lass or damage to anything stored in any of the Equipment; and {e} Any damage to Custorne~'s property or the property of any third parties incurred during ar in connection with the fulfillment of Customer'S obligations by or an behalf of MadSpace or the repossession ar return of Equipment by llriadSpace in accordance with the terms of this Lease. The obligations contained in this Section 8 will survive expiration or termination of the term of this I.eaSe and the Return Date, The indemnifications contained in this Section $ will apply to anyLasses whether they are asserted before or after the Return l~atea Insurance {a} Customer, at Customers sale cost, will procure and keep in full force and effect, from the initial delivery date anti! the return of all Equipment the following policies of insurance satisfactory to MadSpace as to the insurer and as to the form and amount of coverage, with premiums prepaid; i~ Commercial General Liability Insurance with a minimum combined single limit of ~1,d0~,040 per occurrence, written on an occurrence form, including coverage far premises, operations, contractual liability, broad form property damage, independent contractprs and personal injury liability, naming llriodSpace as an additional insured. ii} Commercial Property Insurance protecting against all lass and damages, at full replacement cost, sustained or suffered due to the log of or damage to the Equipment as a result of collision, fare, lightning, theft, flood, windstorm, explosion ar any other casualty, naming MadSpace and Bank of America N.A. a5 a lass paYee- {b) Customer will deliver certificates eviderteing all such insurance to MadSpace within fourteen ~I4) days after delivery of the Equipment to Customer's site, time being of the essence; except that, if Customer elects to enroll in the Optional insurance I'ragram or the Damage Waiver Option, Customer will rat have to deliver certificates of insurance to MadSpace far the type of risks covered by the Optional Insurance Program ar Damage'~aiver Option a5 elected by Customer. Each certificate will state that such insurance will rat terminate or be materially changed without thirty {3~}days' prior written noticeto MadSpace. {c} If Customer fails to deliver the insurance certificate as required by paragraph {b} on the date required, Customer will be in default under this Lease. In addition to all the other remedies for default under this Lease, MadSpace may {i} impose upon Customer acne-time fee far insurance processing of One Hundred Dollars ~~1U0} and {ii) assess as additional rent an uninsured lessee fee often percent (1~°/a] of tl~e monthly rental from the start of the lease terra until the required insurance certificate is delivered to lVladSpace. (d) Obtaining insurance as described above, including the Optional Insurance Program, will not af~'ect Customer's obligations and indemnities under this Lease, and the lass, damage to, ar destruction of any of the Equipment will neither terminate this Lease nor, except to the extent that MadSpace is actually compensated Icy insurance paid for by Customer, relieve Customer ofany of Customer's liability underthis Lease. ~~ ~^a ~~~~~~~ Form. US06299$A .~.... W TERNf AND CONDITION aF LEASE AGREE~IEI~T 10, Optlanal Insurance and Damage Waiver {a} In certain circumstances, Customer may choose {i} to enroll in an Optional Insurance Program to cover general liability risks {the "Optional Insurance Pragram"} ar {iii to accept a t)amage Waiver Option to cover damage to the Equipment {the "Damage Waiver Option"} ar {iii} to elect bath options, If the Optional Insurance Pragram or the Damage Waiver Option is available and Customer, in writing prior to delivery of the equipment to the site, elects to enroll in the Optional Insurance Program ar accept the Damage Waiver Option, then, Section l0(b) will apply if Customer elects to enroll in the Optional Insurance Program and, Section 1~{c~ will apply if Customer accepts the Damage Waiver Option. {b) The Optional insurance Program is fully described in an Outline of Coverage ~"the "Outline of Coverage"~ which Qustomer has received and reviewed prior to any election to enroll in the Optional Insurance Pragram. All questions regarding the Optional lnsurance Pragram will be answered by the qualified licensed insurance agent identified in the Outline of Coverage. If Customer properly elects to enroll in the Optional Insurance Program, sa long as such coverage is still in full farce and effect, Customer will not be required, under this Lease, to carry additional commercial lia>~ility insurance as required by Section 9{a}{i}. {c) ~f the Damage Waiver Option is properly elected and so long as Customer timely pays the additional fee specified for such Qamage Waiver Option, Customer will not be required, under the terms of this Lease, to carry any additional commercial property insurance as required by Section 9{a}{ii) and Customer will oat be liable to MadSpace in excess of X504 per unit of Equipment for lass ar damage specilied in Section 8(a), except Customer will not be relieved of liability if Customer violates any other provision of this Lease. THE DA,1~iAGI;1~VAIV~~i IS NOT INSURANCE COVERAGE. {d) Custame~s coverage under the Optional Insurance Pragram ar acceptance of the Damage Waiver Option Wray be cancelled by either party and rates far coverage under the Optional Insurance Pragram ar fees for the Damage V~aiver Option may be changed upon thirty {3I}) days' prior written notice. If the Optional Insurance i~ragram ar Damage V~aiver Option is, for any reason, cancelled, Customer will provide to ModSpace evidence of policies of insurance as set forth in Sections 9{a~(i} ar 9{a){iii, as appropriate, within ten (l0} days prior to the effective date of such cancellation. {e) The coverage provided under the Optional Insurance Pragram and the limitation of liability under the Damage Waiver Option does oat extend to the transportation of Equipment ar its contents and, only extends to Equipment installed an ground level. {f~ The Damage Waiver Option will not be binding upon ModSpace unless any loss, damage, injury ar claim is reported to ModSpace in writing within seventy-two {7~) hours of the occurrence irony such event. Customer will also provide any information in regard to such event that MadSpace reasonably requests. 1 I. pefault T`he occurrence Drone nr more afthe fallowing in clauses {a} - {e} below wil! constitute an event of Default under this Lease: (a~ Customer fails to pay when due any rental paymentor any other payment due under this Lease or fails to perform its abligatians under SeGtian ~ of this Lease; {b) Customer fails to perform ar observe any other term ar condition under this Lease and such failure remains unremedied far mare than ten {10} days after such failure to perform ar observe; {c} Customer ar any person ar entity which controls more than fifty percent {SO°I~} of Customer's equity {a "Control Person"} or any guarantor of any of Customer's abligatians hereunder (a "Guarantor"} {iJ becomes insolvent, (iii becomes subject to any voluntary ar involuntary bankruptcy ar reorganization proceedings, 4iii} commits an act of bankruptcy, Div} makes an assignment for the benefit of creditors, {v) appoints ar submits to the appointment of a receiver for all or any of its assets, [vii admits in writing its inability to pay its debts as they became due ar {vii) enters into any type ofvoluntary ar involuntary ]iquidation ar dissolution; {d) Customer, any Control Person ar any Guarantor defaults under any other agreement with ModSpace ar any affiliate of ModSpace; and {e} Any letter of credit, guaranty ar other security given to secure the performance of Customer's abligatians under this Lease expires, terminates or in the reasonable opinion of MadSpace becomes worthless. Upon the occurrence of an lavent of Default, lVladSpace will have the option to declare the entire balance of rent for the remainder ofthe stated lease term immediately due and payable and to accelerate and make immediatelydue and payable any other amounts awing underthis Lease. ModSpace will also have the option to retake and retain any ar all of the Equipment free of all rights of Customer without any further liability or obligation to redeliver any of the Equipment to Customer, and Customer hereby grants ArladSpace the right to enter upar~ any premises where all ar any of the Equipment is located in order to take possession of and remove such Equipmen#~ {igotwithstanding the foregoing,lf an Event of Default occurs under clause {c} above, such accelerations will occur autamaticaily without the need for declaratian.~ Customer will gay to ModSpace an demand all fees, cos#s and expenses incurred by MadSpace in enforcing its rights under this Lease, including without limitation reasonable attameys' fees. The remedies provided in favor of MadSpace will be cumulative and in addition to all other remedies provided in this Lease or existing at law ar in equity.l~Io action taken by MadSpace pursuant to this Section l I or Section i 3 vril) release Customer from Customer's covenants, obligations and indemnities provided under tl•,is Lease, including but oat limited to Customer's obligation for the payment of rentals provided in this Lease. If MadSpace retakes possession of the Equipment ar any part of the Equipment and there is at the time of such retaking, in, upon or attached to such repossessed Equipment, any other property, goads ar things of value awned by Customer ar in the custody or contra! of Customer, MadSpace is authorized to take possession of such other property, goads or things and hold the same far Customer, at Customer's sole cast, either in MadSpace's possession or in public storage, at MadSpace's sole discretion. 12. ModSpace' Right To Cure If Customer defaults in any of its obligations under this Lease, whether or not an Cvent of pefault then exists, MadSpace may pay all amounts or perform or cause to be performed all obligations required to be paid yr performed by Customer under this Lease and recover from Customer as additional rent all amounts sa paid ar the reasonable value of all services sa performed. 1 ~. Set-Off V~ithout limiting any other provision of this Lease, upon the occurrence of an Event of Default, MadSpace will have the immediate right, without notice, demand or other action, to set-off against Customer any amounts llriadSpace may hold as prepayments or deposits far MadSpace liabilities to Customer whether or oat then due to Customer. Unless otherwise prohibited by law, MadSpace will be deemed to have exercised such right to set-off and to have made a charge against any such sums immediately upon the pccurrenca of any Event of Default by Customer. I4. Assignment, Amendmen#, Madi~ca#ian, Mlscellaneuus (a} Customer will not have the right to assign this Lease ar to sublet, rent or otherwise hire out or transfer possession of any of the Equipment to any person or entity other than MadSpace, without the prior written consent of MadSpace. MadSpace may assign this Lease and the rentals reserved under this Lease. If MadSpace makes such an assignment} the assignee will acquire all rights and remedies possessed by ar available to ModSpace under this Lease. (b} This Lease contains the entire agreement between the parties pertaining to the subject matter of this Lease, No agreements, representation or understandings not specifically contained in this Lease will be binding upon any of the parties hereto unless reduced to writing and signed by the parties to be bound thereby. Any amendment, modification ar addendum to this Lease will not be binding an ModSpace unless signed by an authari~ed officer of MadSpace. This Lease will be governed as to its Ganstructian, interpretation and effect by the laws of the Commonwealth of Pennsylvania without regard to principles o~hoice of laws. ADDENDUM N~. I T~ CEASE A~REEMEI~T NOS. 270555 ANI~ 270542 This addendum is hereby included and made part of Lease Agreement Nos. 270555 and 270542 {Agreement, dated , executed by and between "Modular space Carpo~ation", a Delaware corporation, and "City of Carpus Christi" {Custan~er}. Ire the event of conflict, the terrris and conditions herein shall supersede those contained in the afarerrientioned Agreements. 1 }Cover page, paragraph above signature lines; delete the word "None" and insert the ward "Addendum to Lease Agreement Nos. 270555 and 270542." 2}Section 2{b}: insert the following amounts at the end of the last sentence, "solely far amounts awed during the period of Customer's occupancy of the Equipment." 3} Section 2{d}: delete in Its entirety 4} Section 5, line : aver the ward "purpose", insert "other than that as represented by Modular Space Corporation" 5} Section 7~c }: delete the first sentence and Insert "If at any trine aver the initial ar any renewal term Modular Space Corporation requests the return of the Equipment, Modular Space Corporation rriust give Customer sixty ~G~} days written native to vacate and schedule and cause the return of the Equipment, IVladular Space Corporation must give Custainer sixty {~0~ days advance written notice to vacate and schedule and cause the return of the Equipment to Modular Space Corporation's designated address at the expiration of that time, Custorrier skull be charged dismantling and return fees." 6) Section 7{d){i): delete. 7} Add ectian 7{d} {ivy: "This Agreement is subject to the annual budget and appropriation process of Custorr~er, If funds are not appropriated far the upcoming fiscal year, Customer may terminate the Agreement VVithaut termination penalt~r as described in {ii} and {iii} herein above, only at the end of the current fiscal year," ~~ Section ~, delete 9} Section , add new section ~e~: "In lieu of providing the insurance described in this Section, Customer may self insure However, such self Insurance does not provide for naming ModSpace or other party as additional insured, Customer is not required to name adSpace or any other party as an additional insured." 1 ~} Section 1 1, add new section {f}: Modular Space Corporation shall not enact a lien on any City property as a result of default or enforcement of this Agreement, ~ 1} section ~4~b}: delete "ommanealth o~Pennsy~vania" and insert "state of Texas, 1~} Add new ectivn 2 fie} Suspension ofpay~nents. ~ the event that the Equipment is damaged beyond use, and the cause for such damage is nit the Fault o~ uston~er, then customer shall spend payments until such time as ~Vladpace has installed replacement Equipment. Agreed to by: pity of corpus Christi Authorized Signature: Date: 1~ " Name and Title: ~C.D~( ~ ~ 1 ~.~ N~adular space orporat~on,~, ~ IO /.S ~ " Authorized Signature ~ ~~~,~ Date: Name and Title: ~n~~ ~ rneer~~ n, C~ orj ~t 2G~S R~ ~-~ys~ 2y-o~