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ddi leasing, inc.
<br />LEASE AGREEMENT #TSM033
<br />Dated:
<br />June 20, 2011
<br />CUSTOMER NAME
<br />MONTHLY PAYMENT*
<br />TOTAL ADVANCE (MO. PAY.)*
<br />Cabarrus, County Of
<br />$ 7,119.00
<br />0
<br />Tax Excluded
<br />DBA NAME (IF ANY)
<br />EQUIPMENT DESCRIPTION
<br />LEASE TERM
<br /># OF ADVANCE (MO. PAY.)
<br />See Attached Addendum
<br />36 Months
<br />0
<br />ADDRESS
<br />EQUIPMENT LOCATION
<br />DOCUMENTATION
<br />COMMENCEMENT DATE
<br />65 Church Street South, Concord, NC 28025
<br />See Attached Addendum
<br />FEE
<br />August 1, 2011
<br />$225.00
<br />*Plus applicable taxes to be billed
<br />DEAR CUSTOMER: This Lease Agreement (the "Lease ") contains the terms of your agreement with us. Please read it carefully and ask us any questions you may have.
<br />The words You, Your and Lessee mean you, our customer. The words We, Us, Our and the Lessor, mean DDI Leasing, Inc.
<br />1. EQUIPMENT LEASED; TERM, RENT AND FEES: We agree to lease to you and you agree to lease from us the equipment ( "Equipment ") identified above. You
<br />certify that the Equipment will be used for a business purpose, and not for personal, family or household purposes. You agree to pay the Documentation Fee,
<br />the Total Advance and the Security Deposit (if any) when you sign this Lease. All Advances will be applied to the end of the Term. This Lease shall commence on the
<br />date that any of the Equipment is delivered to you ( "Commencement Date "). Your first Monthly Payment shown above ( "Monthly Payment "), is due on the first day
<br />of the month following the month in which you execute the Certificate of Acceptance covering the Equipment ( "First Payment Date "), and your remaining Monthly
<br />Payments shall be due on the same day of each subsequent month until you have paid all the Monthly Payments due under this Lease. Each day between the
<br />Commencement Date and the First Payment Date is an "Interim Rent Day ". You shall pay us interim rent for each Interim Rent Day at 1/30 of the Monthly Payment
<br />which shall be due and payable on the First Payment Date. You will execute a Certificate Of Acceptance upon receipt of the Equipment, if we provide one to you and
<br />if not, you expressly agree that you accepted the Equipment no later than 14 days after it was shipped to you. YOU AGREE THAT THIS LEASE IS A NET
<br />LEASE WHICH MAY NOT BE TERMINATED OR CANCELLED; THAT YOU HAVE AN UNCONDITIONAL OBLIGATION TO MAKE ALL
<br />PAYMENTS DUE UNDER THE LEASE ACCORDING TO THE TERMS SET FORTH IN THE SCHEDULE, AND THAT YOU CAN NOT WITHHOLD,
<br />SET OFF OR REDUCE SUCH PAYMENTS FOR ANY REASON. You authorize us to adjust the Monthly Payment by not more than 15% if the actual total cash
<br />price for the Equipment differs from the estimated total cash price.
<br />2. SUPPLY CONTRACT: If you have entered into any purchase or supply contract ( "Supply Contract ") with any supplier, you assign to us your rights under such
<br />Supply Contract, but none of your obligations (other than the obligation to pay for the Equipment if it is accepted by you). If you have not entered into a Supply
<br />Contract, you authorize us to enter into a Supply Contract on your behalf. You will arrange for the delivery of the Equipment to you. Neither the supplier nor any
<br />salesperson are our agent. Their statements will not affect your rights or obligations under this Lease.
<br />3. ASSIGNMENT: YOU MAY NOT SELL, PLEDGE, TRANSFER, ASSIGN OR SUBLEASE THE EQUIPMENT OR THIS LEASE. We may sell, assign, transfer
<br />or grant a security interest in all or any part of this Lease and /or the Equipment without your consent or without notifying you. Our assignee will have the same rights
<br />that we have, but not our obligations. You agree you will not assert against our assignee any claims, defenses or set -offs that you may have against the supplier or
<br />against us.
<br />4. NO WARRANTIES: We are leasing the Equipment to you "AS -IS ". YOU ACKNOWLEDGE THAT WE DO NOT MANUFACTURE THE EQUIPMENT,
<br />WE DO NOT REPRESENT THE MANUFACTURER OR THE SUPPLIER, AND YOU HAVE SELECTED THE EQUIPMENT AND SUPPLIER BASED
<br />UPON YOUR OWN JUDGMENT. WE MAKE NO WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY
<br />OR FITNESS FOR A PARTICULAR PURPOSE OR OTHERWISE. We transfer to you for the term of this Lease any warranties made by the manufacturer or
<br />supplier under a Supply Contract. You agree that you will not assert against us any claim or defense that you have against the supplier.
<br />5. EQUIPMENT LOCATION; USE AND REPAIR; RETURN: We are the owner of the Equipment. You agree to keep the Equipment free from liens and
<br />encumbrances. You will keep and use the Equipment only at the address set fourth above. You may not move the Equipment without our prior written consent. At your
<br />own cost, you will keep the Equipment eligible for any manufacturer's certification, in compliance with all applicable laws and in good condition, except for ordinary
<br />wear and tear. You will not make any alterations, additions or replacements to the Equipment without our prior written consent. All permitted alterations, additions and
<br />replacements will become our property at no cost to us. We may inspect the Equipment during normal business hours. Unless you purchase the Equipment at the end of
<br />this Lease, you will immediately deliver the Equipment to the party and location directed by us in as good condition as when you received it, except for ordinary wear
<br />and tear. You will pay all shipping and other expenses, and you will insure the Equipment for its full replacement value during shipping.
<br />6. TAXES: You agree to pay when due or reimburse us for all taxes, fines, and penalties relating to the use or ownership of the Equipment or to this Lease, now or
<br />hereafter imposed, or assessed by any state, federal or local government or agency. We will file all sales, use and personal property tax returns (unless we notify you
<br />otherwise in writing) and you agree to pay us a fee for making such filings. We do not have to contest any taxes, fines or penalties. (CONTINUED ON
<br />NEXT PA GE — ALL PARTIES AGREE, INCL UDING GUARANTOR(S), THAT THE CORRECT VERSION OF THE NEXT PAGE IS THE FORMATTACHED
<br />TO OUR COPYAND SHALL BE BINDING ONALL PARTIES
<br />CANCELED ACCEPTANCE THIS LEASE MAY NOT BE
<br />Cabarrus, County Of (LESSEE) DDI Leasing, Inc.
<br />B y : X X By:
<br />Authorized Signer Title Title: Date:
<br />Print Name X Date
<br />FAX EXECUTION: A fax version of this Lease when received by us shall be binding on you for all purposes as if originally signed. However, the Lease shall only
<br />become effective and binding against us when originally signed by us in one of our corporate offices. You agree that the only version of the Lease that is the original
<br />for all purposes is the version containing your fax signature and our original signature. If you elect to sign and transmit a Lease by fax, you waive notice of our acceptance
<br />of this Lease and receipt of a copy of the originally signed Lease.
<br />PERSONAL GUARANTY
<br />When we use the words you and your in this Guaranty, we mean the Guarantor(s) indicated below. When we use the words we, us and our in this Guaranty, we mean
<br />DDI Leasing, Inc. All other terms shall have the same meanings as used in the Lease. You guaranty that the Lessee will make all payments and perform all other
<br />obligations under the Lease until completed. This is a guaranty of payment, not of collection. Your obligations shall be absolutely non cancelable, continuing, direct and
<br />unconditional. You waive notice of Lessee's default, acceptance, demand and protest and you consent to any modifications to the Lease and/or release of any obligations.
<br />You are not entitled to subrogation. You shall not assign this Guaranty. This Guaranty shall be binding upon your permitted successors and assigns and inure to the benefit
<br />of our successors and assigns. If there is more than one Guarantor, your obligations are joint and several. You authorize us or any of our affiliates to obtain credit bureau
<br />reports regarding your credit and make other credit inquiries that we determine are necessary. THIS GUARANTY IS GOVERNED BY THE LAWS OF THE STATE OF
<br />NEW JERSEY. YOU CONSENT TO THE JURISDICTION OF ANY COURT LOCATED WITHIN NEW JERSEY. YOU EXPRESSLY WAIVE ANY RIGHT TO
<br />A TRIAL BY JURY.
<br />Guarantor (Signature) X Individual Guarantor (Signature) Individual
<br />Print Name Date Print Name: Date
<br />F -6
<br />Attachment number 1
<br />Page 102
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