Agenda - 11-18-2008 - 4h - Laserfiche WebLink

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14 forbearance granted to Customer shall not otherwise alter or affect Lessor's rights or Customer's obligations hereunder. In the event that, contrary to the express intention of the parties hereto, this Lease Agreement is deemed to be other than a finance lease or a lease under the Uniform Commercial Code, but rather is deemed an agreement intended for security, Customer hereby grants Lessor a security interest in the Property to secure the prompt payment and performance, when and as due, of all of Customer's obligations and indebtedness hereunder. Customer hereby also grants Lessor a security interest in all accessions and additions to, substitutions and replacements for, and proceeds (including insurance proceeds), accounts, rights of payment (including monetary obligations, whether or not earned by performance), secondary obligations incurred or to be incurred, chattel paper, electronic chattel paper, equipment, general intangibles, payment intangibles, promissory notes and income arising from or generated by the Property. Customer hereby authorizes Lessor to file financing statements describing the Property. Customer hereby appoints Lessor as agent for the benefit of Customer and grants Lessor an irrevocable power of attorney to take any and all actions and to execute and file all documents necessary to establish, maintain, and continue the perfected security interests of Lessor in the Property, in the name of and on behalf of Customer at Customer's sole cost and expense. This power of attorney is coupled with an interest and is irrevocable during the term of this Lease Agreement. Customer shall take all actions and execute and file all documents reasonably requested by Lessor to establish, maintain and continue the perfected security interests of Lessor. Customer shall, within ten (10) days after receipt of notice from Lessor, pay all costs and expenses of filing and recording, including the costs of all searches deemed necessary by Lessor, to establish, maintain, continue, and determine the validity and priority of Lessor's security interests in the Property during the term of this Lease Agreement. ~9. GoyERN~NG LAw. This Lease Agreement shall be governed by and interpreted in accordance with the law of the jurisdiction in which Lessor has its place of business as set forth hereinabove, and any legal action to enforce the terms of this Lease Agreement shall be brought in the courts of said jurisdiction, the parties hereby waiving the right to select venue elsewhere.