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East Side Oil Company <br />Equipment Lease Agreement <br />This equipment lease agreement is made this day of <br />between East Side Oil Company, (ESOC) of St. Cloud, Minnesota and <br />(Lessee) of , Minnesota. <br />, in the year of <br />1. Lease of the Equipment. ESOC leases to Lessee, for installation and use upon the premises located <br />at , now occupied by Lessee, the equipment set forth below: <br />Permanent ID/Serial # stamped on tank is <br />1-1990 Gallon double wall UL tank $16,235.75 <br />Signage $1,417.86 <br />Vents and Gauges $279.70 <br />Cover & assembly parts $2,300.00 <br />Note: This is replacement value if equipment were to be damaged, lost or stolen: <br />$20,233.31 <br />2. Rent. Lessee need not pay rent for the equipment so long as Lessee continues to recycle oil with <br />ESOC. <br />3. Disclaimer of Warranties. ESOC hereby expressly disclaims any warranties or representations, <br />express or implied of merchantability or fitness for a particular purpose. <br />4. Repair and Maintenance. At its expense, Lessor shall maintain the equipment in good working <br />order and repair. <br />5. Title to Equipment. Title to the equipment shall at all times remain in ESOC. The equipment is and <br />shall remain personal property, irrespective of its use or manner of attachment to realty and Lessee <br />agrees that it will not permit the equipment to be permanently attached to the realty without <br />ESOC's prior written consent. <br />6. Liens; Assignments; Claims. Lessee shall: <br />Keep the equipment free and clear of all liens, encumbrances and security interests and shall <br />not remove it from the premises described in paragraph 1 of this lease agreement or do or <br />permit anything to be done which might operate to prejudice ESOC's title; <br />Not transfer, deliver or sublet the equipment to any other person or corporation without prior <br />written consent of ESOC; Not assign any rights hereunder to any other person or corporation <br />without prior written consent of ESOC; Comply with all laws, ordinances and regulations <br />applicable to the equipment and the use thereof; and Indemnify and save ESOC harmless from <br />all claims, suits and liabilities of every character whatsoever arising from the operation and use <br />of the equipment. <br />