NEC FINANCIAL SERVICES, INC.
Lease Agreement
LEASE NUMBER:
300 FRANK W. BURR BLVD., TEANECK, NEW JERSEY 07666 · (201) 287-8300 · FAX (201) 287-9555 · www.NECLease.com · info@neclease.com
LESSEE (LEGAL NAME AND ADDRESS)
SUPPLIER INFORMATION

VENUS TELEPHONE d/b/a TELECO

88A LORRAINE AVENUE

MONTCLAIR, NEW JERSEY 07043
CONTACT:
PHONE:
CONTACT:
ANDREW TAUB
PHONE:

(973) 746-3636
EMAIL:

FAX:

EMAIL:

andy@teleco4.com
FAX:

(973) 746-3630
EQUIPMENT:

EQUIPMENT LOCATION:




LEASE TERM
PURCHASE OPTION
(IN MONTHS)
AMOUNT OF EACH
PAYMENT FREQUENCY
ADVANCED RENTAL
$
Make Check Payable to NEC Financial Services, Inc.
($, %, FMV, SECURITY DEPOSIT)
PAYMENT "RENTALS"


MONTHLY

First rental and last








SECURITY DEPOSIT
$


OTHER

Renal Totaling
$

PAYMENT
SCHEDULE
ADDITIONAL PROVISIONS:
ALL EQUIPMENT IS LEASED FOR COMMERCIAL PURPOSES ONLY AND NOT FOR ANY PERSONAL, copy of this Lease and related documents with facsimile signatures may be treated as originals and be
HOUSEHOLD OR FAMILY USE. In this agreement the words "We," "Our" and "Us" refer to the Lessor and admissible as evidence. CHOICE OF LAW: YOU AGREE THAT BECAUSE WE COUNTERSIGN AND
the words "You" and "Your" refer to the Lessee. You agree to lease the equipment described above and on ACCEPT THIS LEASE IN TEANECK, NEW JERSEY, IT WILL BE CONSTRUED AND ENFORCED
any schedule to this agreement, together with all accessories, additions, attachments and replacements ACCORDING TO THE LAWS OF NEW JERSEY AND CONSENT TO JURISDICTION AND VENUE IN
therefore ("Equipment") and agree to the terms and conditions of this agreement ("Lease"). You agree to pay THE STATE OR FEDERAL COURTS OF NEW JERSEY. YOU EXPRESSLY WAIVE ANY RIGHT TO A
the Rentals to us monthly, in advance, in accordance with the payment schedule above. We may adjust TRIAL BY JURY. EQUIPMENT LOCATION, USE AND REPAIR: You will keep and use the Equipment only
your Rentals by up to 20% if our acquisition costs are different than the amount we used to calculate the at the location above and agree not to change the location without our prior written permission. You shall
Rentals above; and you authorize us to correct or insert any missing information on this Lease. You are keep the Equipment in good working order and repair (all work performed only by authorized providers) and
responsible for delivery and installation of the Equipment. The Lease will begin when the Equipment is protect the Equipment and continue to pay Rentals, notwithstanding any loss or, damage destruction or
delivered and we accept this Lease. You unconditionally accept the Equipment unless you notify us in inoperability. We are not responsible for any losses or damages caused by the installation, use or
writing within 5 days after delivery specifying the reason for your non-acceptance. We may require you to possession of the Equipment,; and you agree to hold us harmless and defend us against any such claim. At
provide a signed delivery and acceptance certificate to us. NO WARRANTY: YOU AGREE TO LEASE least 6 0 but not more than 90 days prior to the expiration of the initial or any renewal term of this Lease, you
THE EQUIPMENT "AS IS" AND THAT WE MAKE NO WARRANTIES, EXPRESS OR IMPLIED, shall notify us in writing of your intention to exercise the purchase option above or return the Equipment to
CONCERNING THE EQUIPMENT, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF us; and this Lease will automatically renew for successive 60 day periods at the same monthly Rental until
MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. YOU WAIVE ANY CLAIM AGAINST you exercise an option or provide us such notice. If you exercise a Fair Market Value ("FMV") purchase
US FOR ANY LOSS, DAMAGE (INCLUDING INCIDENTAL OR CONSEQUENTIAL DAMAGES) OR option, you agree to purchase all of the Equipment for its fair market value considering the Equipment is in
EXPENSE RELATING TO THE EQUIPMENT. YOU AGREE THAT YOU HAVE SELECTED THE place and in use. If you elect to return the Equipment to us, it must be returned to the location we designate
EQUIPMENT USING YOUR BEST JUDGMENT AND NOT BASED ON ANY STATEMENTS OR in good working order and condition and agree to pay us a Restocking Fee equal to one additional Rental
REPRESENTATIONS MADE BY US. YOU UNDERSTAND AND AGREE THAT NEITHER THE payment and all expenses incurred in returning the Equipment. INSURANCE: Throughout the term of this
SUPPLIER OF THE EQUIPMENT NOR ANY AGENT OF THE SUPPLIER IS AUTHORIZED TO CHANGE Lease, you will maintain, at your expense, property insurance for full replacement value of the Equipment
OR RELEASE ANY TERM OR CONDITION OF THIS LEASE AND NO STATEMENT BY THE SUPPLIER and public liability insurance covering us for all personal injury and/or third-party property damage claims
OR ITS AGENTS WILL AFFECT YOUR DUTY TO PERFORM YOUR OBLIGATIONS AS SET FORTH IN relating to the Equipment, each naming us as loss payee and additional insured. You will provide evidence
THIS LEASE. You agree to continue to pay Rentals to us regardless of any claims you may have against of such insurance on demand; failing which, we may, at our option, either buy such insurance for you and
the manufacturer or supplier. We transfer to you for the term of this Lease any transferable warranties made add the cost to your obligations or charge you an administrative fee for administering such insurance. Our
by the manufacturer or the supplier. ABSOLUTE OBLIGATION: YOUR OBLIGATION TO PAY THE purchase of insurance on your behalf shall not relieve you of any obligations or release you from any claims
RENTALS AND OTHER SUMS AND ALL YOUR OTHER OBLIGATIONS HEREUNDER SHALL BE we may have against you. DEFAULT: If you fail to pay any payment when due, or breach any of the terms
ABSOLUTE AND UNCONDITIONAL AND ARE NOT SUBJECT TO ANY DEFENSE, ABATEMENT, of this Lease, you will be in default of this Lease and any other agreement you may have with us or any of
SETOFF, OR COUNTERCLAIM FOR ANY REASON WHATSOEVER. You agree that the terms and our affiliates. If you default, we may require you to do any one or more of the following: (1) immediately pay
conditions contained herein are the entire agreement regarding the lease of the Equipment. Any change or all past due amounts plus the present value of the remaining unpaid balance of the Lease discounted at 5%
termination of this Lease must be in writing and signed by us. You agree that any delay or failure to enforce per annum, plus the residual value of the Equipment, if any; or (2) return all of the Equipment or allow us to
our rights under this Lease does not prevent our later enforcement.. All of our rights and indemnities will repossess it. We can use any and all remedies available to us under the Uniform Commercial Code ("UCC")
survive termination of this Lease. All collateral and Equipment shall secure any and all of your obligations at or any other law. If we take possession of the Equipment, you agree to pay the cost of repossession and
any time owed to us. TITLE, TAXES AND FILINGS: Except with respect to $1.00 purchase option leases agree to pay us reasonable attorney's fees and costs associated with any enforcement action we may take
or if this Lease is deemed a security agreement (in which event you grant us a security interest in the in the event you default. Additionally, if you default, we may, but need not, apply any security deposits to
Equipment and in all proceeds), we are the owner of and have title to the Equipment. You will pay, when your unpaid obligations. Provided no event of default has occurred, at the end of this Lease, any unapplied
due, all taxes, fines and penalties relating to the use or ownership of the Equipment. If any applicable taxes security deposit refunded shall be without interest. ASSIGNMENT: YOU HAVE NO RIGHT TO SELL,
and fees are not included in the scheduled rentals, we may include and invoice you for them and you agree TRANSFER, ASSIGN OR SUBLEASE THE EQUIPMENT OR THIS LEASE. You agree that we may sell,
to pay them. If we pay any taxes, fees or penalties for you, you will pay us on demand the amount we paid assign or transfer this Lease or our rights in the Equipment without notice to you and the new owner will
plus an administrative fee. You authorize us to record UCC financing statements to show our interest in the have all of our rights and benefits and will not be subject to any claim, defense or setoff that you may have
Equipment. You agree to pay us a documentation fee of $72.50 to cover our expense in processing this against us. NOTICE: If you or we are required to notify the other of any matter, the notice must be sent by
Lease and credit application. You must notify us in writing of any change in your name, state of organization, certified first class mail, or by a courier service, to the address above. The address for notices may be
principal place of business or principal residence within 30 days after such change. LATE FEES AND changed by notice given in like manner. Notices sent by courier will be considered effective when received.
COLLECTION CHARGES: If any Rental or other amount due is not received by us within five (5) business Notice sent by first class mail will be effective on the third business day after deposit in the U.S. Mail.
days of its due date, you agree to pay us a late charge of the greater of 10% of the amount which is late or ARTICLE 2A RIGHTS AND REMEDIES: You agree that this Lease is a finance lease as defined in Article
$25.00, but no more than the maximum amount allowable under applicable law. You also agree to pay us 2A of the UCC. You hereby waive any and all rights and remedies granted to you by se ctions 12A:2A-508
thirty-five dollars ($35.00) for each returned check. FAXED AND COPIED DOCUMENTS: You agree that a through 12A:2A-522 of the UCC.
LESSEE
PERSONAL GUARANTY
Legal Name
I/We, jointly and severally, absolutely, unconditionally and irrevocably guaranty to you, your successors and assigns
of Business

and agree to be directly and unconditionally liable for the due payment and performance of any and all of Lessee's
Billing
present and future obligations to you. I/We consent to any agreements with the Lessee and/or others including
Address

payment extensions and/or restructures, and waive any and all notice(s) to which I/we may be entitled. My/Our
City, State,
liability hereunder is direct and unconditional and continuing and may be enforced without prior resort to any other
& Zip

right, remedy or security. This guaranty and all related obligations shall be governed and enforced under the laws of

the State of New Jersey. I/WE WAIVE THE RIGHT TO TRIAL BY JURY AND CONSENT TO THE VENUE AND
Organizational I.D. / SS #


JURISDICTION OF ANY STATE OR FEDERAL COURT SITTING IN THE STATE OF NEW JERSEY.



Authorized Signature and Title
(Guarantor's Signature) An Individual (No Title)
(Guarantor's Signature) An Individual (No Title)
x
x
x



Lessee Printed Name





Signer represents they are authorized to execute this Lease Agreement.
Printed Name Date
Printed Name Date






Accepted by NEC FINANCIAL SERVICES, INC. (Lessor)
Home Street Address
Home Street Address






Authorized Signature Date
City State Zip Code
City State Zip Code

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