236-26 EZ Speed Study Program and Application - Final.pdf

5 | P a g e EZ Speed Study Program Application and Agreement Form 7. Assignment. The Agreement is not transferable and may not be assigned by either party, in whole or in part, without the prior written consent of the other party. The Borrower shall not assign, transfer, pledge or lend the Equipment to another party or permit the Equipment or any part thereof to be used by anyone other than the Borrower or its employees. A change of location must be discussed with EZ Ride and agreed in writing. 8. The Borrower's Use of the Equipment. The Borrower will use the Equipment for a public purpose only. The Borrower shall use the Equipment in a careful and proper manner and shall be responsible for complying with and conform to all laws, ordinances and regulations which relate in any manner to the possession, use, or maintenance of the Equipment. The Borrower will not let any other party use or operate the Equipment, except for EZ Ride representatives for the purposes of data collection and adjustment. The Borrower shall not make any alterations or additions to the Equipment, without the prior written consent of EZ Ride. 9. Repairs and the Borrower's Obligation to Pay for Repairs. If the Equipment needs any repair or is damaged while in possession of the Borrower, the Borrower shall contact EZ Ride promptly. The Borrower will not undertake any repairs without EZ Ride's written consent. Repairs, if caused by negligence or misuse of the Equipment while in Borrower’s possession, must be paid for by the Borrower. EZ Ride will not be responsible for any lost time or any other damage or costs which the Borrower incurs because the Equipment is down and in need of repair. EZ Ride retains the right to terminate the Agreement rather than repair the Equipment. 10. Risk of Loss. The Borrower hereby assumes and agrees to bear the entire risk of loss and damage to the Equipment from any cause arising from the Borrower's intentional misuse or negligent use of the Equipment. In the event of loss or damage of any kind whatsoever to the Equipment arising from Borrower's intentional misuse or negligent use of the Equipment, the Borrower shall, at EZ Ride's sole option: (i) Place the Equipment in good repair, working order or pay to do so, or (ii) Replace the Equipment with like property in good repair and working order; or (iii) If the Equipment is stolen, destroyed or damaged beyond

pment in good repair, working order or pay to do so, or (ii) Replace the Equipment with like property in good repair and working order; or (iii) If the Equipment is stolen, destroyed or damaged beyond repair, Borrower agrees to pay EZ Ride in cash the full replacement value, it being understood the full replacement value of the Equipment is $2,874 for one sign. 11. Indemnity. The Borrower shall indemnify EZ Ride and hold EZ Ride harmless from any and all claims, actions, suits, proceedings, costs, expenses, damages and liabilities, including reasonable attorney’s fees, arising out of, connected with, or resulting from Borrower's use, intentional misuse or negligent use of the Equipment. 12. EZ Ride's Expenses. The Borrower shall pay EZ Ride all costs and expenses, including reasonable attorney’s fees, incurred by EZ Ride in exercising any of its rights or remedies hereunder.