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the Equipment Listing attached hereto as Exhibit A, and
shall be valued for transfer and payment purposes
hereunder at One Hundred Fifteen per cent (115%) of the
values set forth for the items of equipment selected by
ENYART.
(b). All such equipment is presently subject to
financing liens, and ENYART agrees to accept the trans-
fer of such equipment subject to such liens. B&L will
remain responsible for the payment of all such liens,
as now financed, and shall furnish ENYART with releases
of lien when payment has been made and such liens are
released by the financing institution(s).
(c). If transfer of such equipment, or any part
thereof, cannot be effected because of objection by the
lending institution(s) or otherwise, then ENYART shall
have the use of such equipment, by appropriate lease or
other reasonable method, until the financed amounts
shall have been paid by B&L and releases of lien se-
cured, at which time the equipment shall be transferred
to ENYART.
(d). ENYART agrees that he will maintain at his
own cost all insurance required by the lending institu-
tion(s) on such equipment, and further agrees that so
long as any of such equipment remains titled to B&L he
will furnish at his own cost liability insurance with a
company acceptable to B&L for the benefit of B&L as to
the use of such equipment in minimum amounts equal to
those currently in force for B&L’s benefit, by the
naming of B&L as an additional or named insured on
insurance policies held by ENYART or other effective
manner. Each such policy shall contain a provision
that it may not be canceled for any reason without
thirty (30) days’ prior written notice to B&L. ENYART
shall furnish B&L with written certificates of insur-
ance evidencing the above insurance at all times,
containing the above provision. B&L agrees that it
will pay one-half (�) the cost of liability insurance
in excess of One Million Dollars ($1,000,000.00).
(e). ENYART shall be fully responsible for the
payment of all taxes, license fees and similar costs
relating to all equipment and other matters hereunder
on a timely basis, without contribution by B&L.
(f). B&L presently holds a policy on the life of
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Last modified: May 25, 2011