Page 4 of 5 Equipment Rental Agreement – CONSERVATION DISTRICT PROGRAM
liabilities, including attorneys fees, arising out of, connected with, or resulting from the
equipment or the Lease, including without limitation, the manufacture, selection,
delivery, leasing, renting, control, possession, use, operation, maintenance or return of the
equipment. Lessee shall further indemnify Lessor, and hold Lessor harmless from all loss
and damage to the equipment during the rental period. Lessee recognizes and agrees that
included in this indemnity clause, but not by way of limitation, is Lessee’s assumption of
any and all liability for injury: disability and death of workmen and other persons caused
by the operation, use, control, handling, or transportation of the equipment during the
Rental Period.
12) RISK OF LOSS. Lessor shall not be responsible for loss or damage to property,
material, or equipment belonging to Lessee, its agents, employees, suppliers, or anyone
directly or indirectly employed by Lessee while said material property, or equipment is in
Lessor’s care, custody, control or under Lessor’s physical control. Lessee is encouraged
to obtain appropriate equipment, material, or installation floater insurance against such
risk of loss. Lessee and its insurers waive all rights of subrogation against Lessor for such
losses.
13) INSPECTION: CONCLUSIVE PRESUMPTIONS. Lessee shall inspect the
equipment within three (3) business days after receipt thereof. Unless Lessee within said
period of time gives written notice to Lessor, specifying any defect in or other proper
objection to the equipment. Lessee agrees that it shall be conclusively presumed, as
between Lessor and Lessee, that Lessee has fully inspected and acknowledged that the
equipment is in full compliance with the terms of this agreement, in good condition and
repair, and that Lessee is satisfied with and has accepted the equipment in such good
condition and repair. Lessor shall have the right at any time to enter the premises
occupied by the equipment and shall be given free access thereto and afforded necessary
facilities for the purpose of inspection.
14) OWNERSHIP. Lessor shall at all times retain ownership and title of the
equipment. Lessee shall give Lessor immediate notice in the event that any of said
equipment is levied upon or is about to become liable or is threatened with seizure, and
Lessee shall indemnify Lessor against all loss and damages caused by such action.
15) DEFAULT; REMEDIES. If (a) Lessee shall default in the payment of any rent or
in making any other payment hereunder when due, or (b) Lessee shall default in the
payment when due of any indebtedness of Lessee to Lessor arising independently of this
lease, or (c) Lessee shall default in the performance of any other covenant herein and
such default shall continue for five days after written notice hereof to Lessee by Lessor,
or (d) Lessee becomes insolvent or makes an assignment for the benefit of creditors, or
(e) Lessee applies for or consents to the appointment of a receiver, trustee, or liquidator
of Lessee or of all or a substantial part of the assets of Lessee under the Bankruptcy Act,
or any amendment thereto (including, without limitation, a petition for reorganization,
arrangement, or extension) or under any other insolvency law or law providing for the
relief of debtors, then, if and to the extent permitted by applicable law. Lessor shall have
the right to under any other insolvency law or law providing for the relief of debtors,