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FEB -23 -SS 1S:26 FROM=MARK PRESSMAN ASSOC ID:41S42107SS PAGE 7/1S ARUCLIE I DEFINMONS AND E)aMBITS SECTION 1.1. Definitions. Unless the context otherwise requires, the terms defined in this Section shall, for all purposes of this Lease, have the meanings herein specified. C125ing Date: The date upon which Lessor deposits funds with Issuer. Conlr_acto-r: Each of the manufacturers or vendors from whom Lessee (or Lessor at Lessee's request) has ordered or will order or with whom Lessee (or Lessor at Lessee's request) has contracted or will contract for the manufacture, delivery and/or installation of the Equipment. Eguioment: The personal property described in the attached Exhibit A which is being leased with option to purchase by Lessee pursuant to this lease. Eauinment Cost: With respect to each item of Equipment subject to this Lease, the price therefor required to be paid to the Contractor. Fiscal~ Year: The twelve month fiscal period of Lessee which commences on in every year and ends on the following Indenendent Counsel; An attorney duly admitted to the practice of law before the highest court of the State who is not a full-time employee of Lessor or Lessee. Inter • The portion of any Rental Payment designated as and comprising interest as shown in the attached ExWbit ]3. Net Proceeds: Any insurance proceeds or condemnation award, paid with respect to the Equipment, remaining after payment therefrom of all expenses incurred in the collection thereof. Non-anoroorigliQn: The failure of the governing body of to appropriate money for any Fiscal Year of Lessee sufficient for the continued performance of this Lease by Lessee, as evidenced by the passage of an ordinance or resolution specifically prohibiting Lessee from performing its obligations under this Lease, and from using any moneys to pay the Rental Payments due under this Lease for a designated Fiscal Year and all subsequent Fiscal Years. Payment 12ate: The date upon which any Rental Payment is due and payable as provided in Exhibit B. Permitted Encumhrances: As of any particular time: (i) liens for taxes and assessments not then delinquent, or which Lessee may, pursuant to the provisions of Section 7.3 hereof, permit to remain unpaid, (ii) this Lease and amendments hereof, (iii) Lessor's interest in the Equipment, and (iv) any mechanic's, laborer's, materialman's, supplier's or vendor's lien or right not filed or perfected in the manner prescribed by law, other than any lien arising through a Contractor or which Lessee may, pursuant to Article VIII hereof, permit to remain unpaid. Princinat: The portion of any Rental Payment designated as principal in Exhibit B. Purchase 012tion Price: With respect to the Equipment, as of the payment Dates specified in the attached Exhibit B. the amount so designated and set forth opposite such date. Rental Ps vment: The payment due from Lessee to Lessor on each Payment Dated during the Term of this Lease, a shown on Exhibit B. 2