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2009-05-02-R
CITY-OF-BATESVILLE
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2009-05-02-R
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(W <br /> taking any action with respect to the Equipment in bankruptcy proceedings, and shall include in <br /> said written notice the venue of the anticipated proceedings and a copy of any relevant pleadings <br /> with respect thereto. Failure to give said written notice within the time as specified shall <br /> constitute an event of default hereunder and shall cause an immediate cancellation of this <br /> Agreement as to all items of Equipment. Said default and cancellation, however, shall not <br /> constitute an election of remedies and Lessor shall retain its rights to such other remedies as may <br /> be set forth in this Agreement. <br /> 24.Remedies. Upon the occurrence of any event of default and at any time thereafter, <br /> Lessor, acting alone and/or through its agents, may, without any further notice, exercise one or <br /> more of the following remedies as Lessor in its sole discretion shall elect: <br /> (a) declare the unpaid principal balance plus accrued interest to date under this <br /> Agreement to be immediately due and payable without notice or demand; <br /> (b) cancel this Agreement as to any or all items of Equipment; <br /> (c) without notice, demand, liability or legal process, enter into any premises of or <br /> under control or jurisdiction of Lessee or any agent of Lessee where the leased Equipment may <br /> be, or is believed to be by Lessor, and repossess all or any item thereof, disconnecting and <br /> separating all or so much thereof as may be required to disconnect or separate same from any <br /> other property, Lessee hereby expressly waiving all further rights to possession of the Equipment <br /> and all claims for injuries suffered through or loss caused by such repossession; <br /> (d) cause Lessee, at its expense, promptly to return the Equipment to Lessor, at <br /> such place as Lessor may designate, in the condition set forth above; <br /> (e) use, hold, sell, lease or otherwise dispose of the Equipment or any item thereof <br /> on the premises of Lessee or at any other location without affecting the obligations of Lessee as <br /> provided in this Agreement; <br /> (f) sell or lease the Equipment or any part thereof, at public auction or by private <br /> sale or lease at such time or times and upon such terms as Lessor may determine, free and clear <br /> of any rights of Lessee, and, if notice thereof is required by law, any notice in writing of any <br /> such sale or lease by Lessor to Lessee not less than 10 days prior to the date thereof shall <br /> constitute reasonable notice thereof, <br /> (g)proceed by appropriate action either at law or in equity to enforce performance <br /> by Lessee of the applicable covenants of this Agreement or to recover damages for the breach <br /> thereof; or <br /> (h) exercise any and all rights accruing to Lessor under any applicable law upon a <br /> default by Lessee, including but not limited to those provided in Ark. Code Ann. § 4-9-101 et <br /> seq. In addition, Lessor shall be entitled to recover immediately as liquidated damages for the <br /> loss of a bargain and not as a penalty, a sum equal to the aggregate of the following: <br /> (i) all unpaid rent or other sums which are due and payable up to the date the <br /> 13 <br />
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