1999-02-01-R - Laserfiche WebLink

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22. EFFECT OF WAIVER. No failure or delay on the part of Lessor in the exercise any power, right or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof of any other right, power or privilege. All rights and remedies existing under this Lease are cumulative to and not exclusive of any fights or remedies otherwise available. 23. SURVIVAL OF WARRANTIES. All agreements, representations and warranties of Lessee made herein shall survive the execution of this Lease and any Schedule"A". 24. TERMINATION OF LEASE. Unless otherwise mutually agreed by the parties hereto, this Lease shall not terminate until all Leased Property covered hereby has been returned to Lessor and final disposition has been made of such Leased Property pursuant to their terms hereof, and the account of Lessee has been finally settled. 25. NON-APPROPRIATION OF FUNDS. In the event no funds or insufficient funds are appropriated and budgeted or any legally available funds in any fiscal period for Lease Payments due under this Lease, then the Lessee will immediately notify the Lessor or its assignee of such occurrence and this Lease shall terminate on the last day of the fiscal period for which appropriations were received except as to the pro rata portion of the rental payment attributable to the use of the Leased Property through the last day of Lessee's fiscal year-end. In the event of such termination, Lessee agrees to peaceably surrender possession of the Leased Property to Lessor or its assignee on the date of such termination, packed for shipment in accordance with manufacturer specifications and freight prepaid and insured to any location in the continental United States designated by Lessor. Lessor will have all legal and equitable rights and remedies to take possession of the Leased Property. Notwithstanding the foregoing, Lessee agrees (1) that it will not cancel this Agreement under the provisions of this section if all funds required hereunder are appropriated to it for the acquisition, retention or operation of the Equipment, and (2) that it will not during the term of this Agreement give priority in the application of funds of substantially the same amount contemplated under this Agreement to any other functionally similar equipment (including a transaction involving a greater amount on which the task performed by the Equipment will be subsequently performed, in conjunction with additional tasks by other equipment). This paragraph will be construed, to the extent lawful, so as not to permit Lessee to terminate this Agreement in order to allocate substantially the same funds directly or indirectly to perform essentially the same application for which the Equipment is intended, but to permit the performance of continuing public business in the event of the good faith non- appropriation or unavailability of funds. 26. Lease Payments Constitute a Current Expense of Lessee. Lessor and Lessee understand and intend that the obligation of Lessee to pay Lease Payments or any other payment or obligation hereunder shall constitute a current expense of Lessee and shall not in any way be construed to be a debt of Lessee in contravention of any applicable constitutional or statutory limitations or requirements concerning the creation of indebtedness by Lessee, nor shall anything contained herein constitute a pledge of the general tax revenues, funds or monies of Lessee. 27. Y2K: Lessee hereby represents to Lessor that (a) Lessee has reviewed or is reviewing the areas within its business and operations which could be adversely affected by, and has developed or is developing a program to address on a timely basis, the "Year 2000 Problem" ( that is, the risk that computer I i applications used by Lessee may be unable to recognize and perform properly date-sensitive functions involving certain dates prior to and any date on or after December 31, 1999), and has made or will make related appropriate inquiry of material suppliers and vendors. Based on such review and program, Lessee believes that the "Year 2000 Problem" will not have a "Material Adverse Effect" As used herein "Material Adverse Effect" shall mean (1) a materially adverse effect on the business, condition (financial or otherwise) operations, performance or properties of Lessee; or (2) a material impairment of the ability of Lessee to perform its obligations under or to remain in compliance with the Agreement or any of the documents executed in connection therewith. From time to time, at the request of Lessor, Lessee shall provide to Lessor such updated information or documentation as is requested regarding the status of its efforts to address the Year 2000 Problem; and (b) the Equipment is "Year 2000 Compliant", the term "Year 2000 5