Terms and conditions
1. Marsten /THG Modular Leasing Corp., a Florida corporation d/b/a/ Work Space Plus, hereafter called Lessor, hereby leases (rents) to Customer, hereafter called Lessee, and Lessee accepts equipment described on Page 1 subject to the provisions contained herein.
2. This is a lease and not a sale. Lessee understands and agrees that Lessee does not acquire hereunder, or by payment of said lease, any right, title or interest in said equipment or any part thereof except the right to possess and use said equipment or any part thereof except the right to possess and use said equipment, so long and only so long as Lessee shall not be in default in performance hereunder.
3. Lessee shall pay Lessor on demand at 155 Cranes Roost Blvd., Suite 2070, Altamonte Springs, FL 32701 all minimum lease time, service mileage, delivery, pickup, Florida state sales tax, and other charges in accordance with this agreement or if not stated herein, in effect at the location at which the lease is made, and any expenses including reasonable attorney’s fees incurred in collecting same. Lessor shall have as a lien as allowed by law for charges incurred hereunder upon premises and improvements upon which equipment is employed. Leases are F.O.B./Work Space Plus, sales office location. Shipping charges from such location to destination and return and all loading , unloading, assembling and dismantling shall be paid by Lessee. Lessee shall pay any and all taxes not including income taxes.
4. The parties expressly agree that TOUAX Group, GIE Modul Finance I Paris France as well as other existing investors or future investors are the rightful owner of the Modular Buildings leased under this Operating Lease contract. The rental income due under the present contract will be paid by the Lessee only to WORK SPACE PLUS (member of TOUAX Group) except in the event that the GIE Modul Finance I or other investors notify in writing the Lessee that payment of the rent should be made payable directly to the GIE Modul Finance I or another investor in which case the Lessee hereby expressly agrees to pay the rent as instructed without delay.
5. Lessee assumes all responsibility for any and all licenses, titles, permits and other certificates as may be required by law or otherwise for Lessee’s lawful operation and possession of occupancy of said equipment leased hereunder. Lessee agrees that all certificates of title of registration applicable to the equipment leases hereunder shall reflect Lessor’s ownership thereof.
6. Lessor at any time following the expiration date of this agreement without prior notice to the Lessee, may request the Lessee return all the equipment to the location designated y the Lessor or if the Lessee without any further written agreement, shall continue to process or occupy the equipment leased hereunder after the expiration of the lease or any extension thereof with or without the consent of Lessor, the Lessee shall then be considered to have renewed the lease on a monthly basis subject to the current monthly published lease rates then in effect.
7. The rate amount stated in the Minimum Rate Charge column on Page 1 of this contract is binding for the duration of this contract. If it be rated Daily, Weekly, or Monthly, the charges are for that time stated or any part thereof.
8. Equipment shall be used solely in Lessee’s business and kept only on the location specified herein and shall not be removed therefrom without prior written consent of Lessor. Equipment shall be used only within its rated capacity. Lessee shall notify Lessor immediately of any accident, occurrence, disablement, or failure involving equipment, and promptly furnish Lessor in writing all information required in connection therewith. Equipment shall not be used in (A) violation of any law or ordinance and (B) by any other than (1) a member of Lessee’s immediate family, (2) Lessee’s employer, (3) an employee of Lessee in the course of such employee’s regular employment, or (4) invitees of Lessee. Lessee hereby agrees to pay rent due at the rate set forth in Page 1 of this contract until such time equipment is returned to Lessor. In case of inability to return due to fire, theft, mysterious disappearance, or any other reason, rent will stop when payment is received for purchase price by Lessor from Lessee.
9. Any and all loss of or damage thereto or any part thereof from any cause whatsoever, including but not limited to fire, theft, comprehensive losses, collision and upset, Acts of God and public enemy shall be the sole responsibility of Lessee and shall be paid to Lessor upon receipt of invoices.
10. The exact manner in which this equipment will be used and the trade or occupation of the user and the qualifications or lack of qualifications of user are beyond the control of Lessor. Lessor therefor expressly disclaims any responsibility for Lessee’s compliance or failure to comply with OSHA and/or other government safety or health regulations or standards.
11. With respect to equipment, Lessee shall, at its expense during the term, hereof, maintain inj force a policy of public liability and property damage insurance with bodily injury and death liability limit of $100,000 for each person in each accident, $300,000 limits for all persons in each accident, and property damage liability limits of $50,000 on a primary and not excess or contributory basis against its liability for damage sustained by any person or persons, including but not limited to employees of Lessee as a result of maintenance, use, operation, storage, erection, dismantling, servicing or transportation of such equipment Lessee shall on demand, furnish Lessor with certificate of such insurance, which may not be cancelled, or materially modified except on (20) days prior written notice to Lessor or damage waiver will be charged. Lessee agrees to abide by the provisions of said policy and make a written report to Lessor and the insurer as soon as possible after any accident or occurrence involving such equipment.
12. In addition, Lessee with indemnify and save harmless Lessor for any damage to Lessee’s property or any third parties incurred during repossession og the equipment by the Lessor, provided that Lessor has given Lessee notice in accordance with Article 16 herein.
13. Lessee shall, at its expense, comply with all state, federal and local laws and regulations affecting equipment and its use, erection design and transportation, including licensing and building code requirements and shall defend, indemnify and hold Lessor harmless from all loss, liability or expense resulting from actual or asserted violations of any such laws, requirements or regulations.
14. This is a contract of lease only and Lessee shall not be deemed and agent or employee of Lessor for any purpose. Lessee shall not suffer any liens or encumbrances to attach to equipment; and shall defend, indemnify and hold Lessor harmless from all loss, liability and expense by reason thereof. Customer shall not sublet equipment or assign this Agreement. Use of equipment by other than Lessee or its employees shall be at Customer’s sole risk and subject to this agreement. Lessor shall not be liable for loss of or damage to any property left, stored, moved or transported by Lessee or any other person in or upon equipment either before or after the return thereof to Lessor whether or not caused by Lessor, and Lessee agrees to hold harmless Lessor from any such loss or damage.
15. Lessee shall not have the right to assign this lease or to subject rent, or otherwise hire out, or part with possession of said equipment to any person, firm, partnership, association or corporation other than Lessor, without the prior written consent of lessor thereto.
16. No right of Lessor under this agreement may be waived except by written instrument signed by duly authorized officer of Lessor. This instrument expresses the entire agreement between the parties.
17. In case of default or breach of this agreement by Lessee, or if Lessor for any reason deems itself insecure, Lessor shall give Lessee twenty-four (24) hour notice of such default. Said notice shall inform the Lessee of breach of this agreement and that all personal property of Lessee shall be removed from the rental property within such period. Lessor may then enter the premises where equipment is located, remove same without process of law and without liability to Lessee, and may terminate this agreement without prejudice of any remedies or claims which Lessor might otherwise have for arrears of rent, expense of retaking court costs and reasonable attorney’s fees and in addition a sum equal to the balance of the rent and other payments called for hereunder for the remainder of the original or extended term, as the case may be, as liquidated damages and not as a penalty. Lessee shall remain liable for the equipment or for any loss or injury to the equipment, not withstanding such termination.
18. The risk of loss or damage to equipment by fire or otherwise shall be assumed by the Lessee until return of the equipment to the Lessor. The Lessee further agrees to deliver the equipment in the same condition as when this Contract is executed.
19. Should any litigation be commenced between the parties hereto concerning the equipment, this Contract, or the rights and duties of either in relation thereto, the party, the Lessor or the Lessee prevailing in such litigation shall be entitled, in addition to such other relief as may be granted, to recover attorney’s fees and costs incurred in such litigation including fees incurred in any bankruptcy or appellate proceeding.
20. Delinquent accounts will be charged interest at a rate of 1½% per month.
21. LESSOR DISCLAIMS ALL WARRANTIES, WHETHER EXPRESSED OR IMPLIED, INCLUDING WAARRANTIES OF FITNESS FOR A PARTICULAR USE OR PURPOSE.
