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proceeds of the foregoing items and any net insurance proceeds in <br />which it is granted a security interest by this Agreement; and <br />(iii) terminate this Agreement. <br />Proceeds of the sale and any other repossessed proceeds <br />shall be used as follows: First, to pay the cost of the sale, <br />including reasonable recovery, repair, and storage fees, court <br />costs and attorneys fees; second, to pay Lessor the purchase <br />option price together with any outstanding Rent due before the <br />date that the final payment of Rent is due; third, to pay Lessor <br />interest through the date of the sale on any late payments of <br />Rent; and fourth, to repay Lessor for any amounts paid on <br />Lessee's behalf by Lessor, for which Lessor has not already been <br />compensated, in order to maintain insurance on the Equipment, pay <br />taxes or utility charges on the Equipment, or keep the Equipment <br />free of liens. Any proceeds remaining after these payments have <br />been made shall be Lessee's property. Such termination, <br />repossession, sale and distribution of proceeds shall relieve <br />Lessee and Lessor of all further obligations under this <br />Agreement, except as otherwise expressly provided in this <br />Agreement. No deficiency judgment shall be rendered against <br />Lessee in any action based on Lessee's default with respect to <br />any provision of this Agreement. <br />On the alleged breach of a provision of this Agreement by <br />Lessor or Lessee, the other party shall send written notice of <br />the breach to the breaching party at the address specified in <br />paragraph 17 of this Agreement. The notice shall specify the <br />full particulars of the alleged breach and shall state that the <br />11 <br />