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RENTAL AGREEMENT Agreement No. T99046 PERSONAL PROPERTY ABN AMRO INCORPORATED, 208 South LaSalle Street, Suite 400; Chicago, Illinois 60604 ("Lessor") hereby leases to the City of Batesville, whose address is 500 Main Street, Batesville, Arkansas 72501, ("Lessee"), and Lessee does hereby lease from Lessor the Personal Property described in Schedule "A" attached hereto or any additional Schedules "A" subsequently attached hereto, all of which shall be properly executed by the parties hereto. All schedules and any addenda so identified shall be considered an integral part of the Rental Agreement (hereinafter referred to as the "Lease") if copied herein word for word, and all terms and conditions set forth therein equally binding upon the parties as if so set forth herein. The term "Leased Property" shall be deemed to include any personal property described in the Schedules "A", together with all equipment attached thereto, provided, however, that items which are not replacements, which have been paid for by Lessee, and which may be removed without material damage to the Leased Property shall not be deemed to be included within the term "Leased Property". 1. LEASED PROPERTY. The Lessee has selected the Leased Property based upon its own knowledge or upon the manufacturers' or sellers' adversements or warranties. Lessor agrees to order the Leased Property from the supplier or manufacturer selected by Lessee, but Lessor shall not be liable for specific performance of the Leased Property or for damages if for any reason the supplier or manufacturer delays delivery or fails to fill the order. Lessor hereby appoints and empowers Lessee to accept the Leased Property on behalf of Lessor. Upon delivery of the Leased Property to Lessee, Lessee shall inspect the Leased Property to determine any defects therein and accept the property on behalf of Lessor. Lessor shall have no duty to inspect the Leased Property. Delivery and installation shall be supervised by Lessee and shall be deemed complete upon Lessee's acceptance in writing of the Leased Property. Lessee shall pay all costs, expenses, fees of any act of repudiation by Lessee prior to delivery. LESSOR MAKES NO WARRANTIES THAT THE LEASED PROPERTY IS MERCHANTABLE OR FIT FOR ANY PARTICULAR PURPOSE. THERE ARE NO EXPRESS OR IMPLIED WARRANTIES OF ANY KIND BY LESSOR WITH RESPECT TO THE LEASED PROPERTY. Lessee acknowledges that Lessor has made no statements, representations, or warranties of any kind with respect to the Leased Property and further acknowledges that I neither the seller nor any agent of the seller is an agent of the Lessor or is authorized to waive or alter any term or condition of this Lease. If the Leased Property is not properly installed, does not operate as represented by seller, or is unsatisfactory for any other reason, Lessee shall make any claim solely against the seller and shall nevertheless pay Lessor the rental payable under this Lease. Lessor agrees to assign to Lessee all of the assignable rights which Lessor might have against seller for breach of warranty or other representation respecting the Leased Property. Upon written request of Lessee, Lessor shall take all reasonable action requested by Lessee to enforce such express or implied warranties on the Leased Property as are enforceable only by Lessor in its own name, provided, however that (i) Lessee is not in default under this Lease and (ii) Lessor shall not be obligated to resort to litigation to enforce any such warranty unless Lessee shall pay all expenses in connection therewith. 2. TERM. Each item of Leased Property shall be leased for the period of time set down and specified in 'he Schedule "A" pertaining to each such item of Leased Property, and this period of lease shall commence on the date Lessee acknowledges receipt of the Leased Property and acceptance thereof to Lessor in writing. 3. RENTAL. The Lessee shall pay the periodic rental payment pertaining to the Leased Property specified in Schedule "A" ("Periodic Rental Payment"). The Periodic Rental Payment shall be due and payable in advance on the date the Leased Property is accepted by Lessee and on that date in each period thereafter unless otherwise provided for in Schedule "A". RENTAL.DOC «Todays DateCoverLettero