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days prior written notice to the Lessor of cancellation, non-renewal, or material <br />modification of such policy and ten (1 O) days prior written notice for non-payment of <br />premium. The proceeds of such insurance, at the option of Lhe Lessor, shall be applied: <br />(a). toward the replacement, restoration or repair of the Equipment, or (b) toward <br />payment of the obligations of the Lessee hereunder. The Lessee hereby appoints the <br />Lessor as the Lessee's attorney-in-fact to make claim for, receive payment of, and execute <br />all documents, checks or drafts received in payment of. loss or damage under any such. <br />insurance policy; If all or any part of the Equipment constitutes motor vehicles, such <br />required insurance shall include without limitation comprehensive automobile liability <br />coverage, medical payments coverage,. uninsured motorist coverage and physical damage <br />coverage to include comprehensive and collision and any other insurance as may be <br />required from time to time by any government authority as a condition or in connection <br />with Lessee's use of the Equipment. In lieu of the insurance policies described above, <br />and with the consent of the Lessor, which consent shall not be unreasonably withheld, the <br />Lessee may self-insure the Equipment by means of a self-insurance program whereby <br />funds are set aside and maintained for the purpose of self-insuring the property of the <br />Lessee. If at any time during the Lease Term, the Lessor in its reasonable discretion, <br />deems it necessary so to do, the Lessee shall provide at its expense an insurance policy <br />covering losses to the Equipment as set forth in this Section 6. <br /> <br />Risk of Loss. The Lessee shall bear all risk of loss to the Equipment, and in the event of <br />loss or damage thereto, the Lessee shall at its option either (i) continue to make the rental <br />payments due hereunder and repair or replace the Equipment as mutually agreed between <br />the Lessee and the Lessor or (ii) purchase the Equipment in accordance with the <br />provisions set forth in Section 17 of this Agreement. <br /> <br />Performance by the Lessor of the Lessee's Responsibilities. Any performance required of <br />the Lessee or any payments required to be made by the Lessee, if'not timely performed or <br />paid, may be performed or paid by the Lessor, and in that event, the Lessor shall be <br />immediately reimbursed by the Lessee for these payments and for any costs and expense, <br />legal or otherwise, associated with the payments or other performance by the Lessor, with <br />interest thereon at the legal rate of interest, per annum. <br /> <br />Financial Statements. The Lessee agrees that it will furnish the Lessor at such reasonable <br />times as the Lessor shall request current financial statements (including without limitation <br />the Lessee's annual budget as submitted or approved), and permit the Lessor or its agents <br />and representatives to inspect the Lessee's books and records and make extracts <br />therefrom. The Lessee represents and warrants to the Lessor that all financial statements <br />which have been delivered to the Lessor, if any, accurately reflect the Lessee's financial <br />condition and there has been no material adverse change in Lessee's financial condition as <br />reflected in the statements since the date thereof. <br /> <br />7 <br /> <br /> <br />