of Co-Lessees. Co-Lessees shall provide (30) days prior written notice to Lessor of any cancellation of policy. As to each policy, Co-Lessees shall furnish Lessor a Certificate of Insurance and copy of policy from the insurer reflecting the coverage required by this paragraph on or before the Lease Date. The proceeds of such insurance whether resulting from loss or damage, shall be applied toward the replacement or repair of the Leased Equipment or the payment of Co-Lessees’ obligations under this Agreement. If Co-Lessees fail to maintain the insurance required by this paragraph, Lessor may, but it is not obligated to, obtain insurance in such forms and amounts as it deems reasonable to protect its interests and Co-Lessees agree to reimburse Lessor for all such costs together with interest at the rate provided herein upon demand. 9. INDEMNITY. Co-Lessees shall, at their sole cost and expense, indemnify, hold harmless and defend Lessor and its agents, employees, officers and directors from and against any and all claims, actions, suits, proceedings, costs, expenses, damages and liabilities, including attorney’s fees, arising out of, connected with, resulting from or relating to the Leased Equipment or the condition, delivery, leasing, location, maintenance, manufacture, operation, ownership, possession, purchase, repair, repossession, return, sale, selection, service or use thereof, including without limitation (a) claims involving latent or other defects (whether or not discoverable by Co-Lessees or Lessor), (b) claims for trademark patent or copyright infringement, and (c) claims for injury or death to persons or damage to property or loss of business or anticipatory profits, whether resulting from acts or omissions, including negligence, of Co- Lessees or Lessor or otherwise, excluding any claims arising from Lessor’s gross negligence or willful misconduct. Co- Lessees shall give Lessor prompt written | | notice of any claims or liability covered by this paragraph. The indemnities under this paragraph shall survive the satisfaction of all other obligations of Co-Lessees herein and the termination of this Lease Agreement. 10. TAXES AND FEES.Co-Lessees agree to use, operate and maintain the Leased Equipment in accordance with all laws in all material respects; to pay all licensing and registration fees for the Leased Equipment; to keep the same free of levies, liens and encumbrances; to show the Leased Equipment as “leased equipment” on Co- Lessees’ personal property tax returns; to pay all personal property taxes assessed against equipment, which sum Co-Lessees shall remit to the taxing authority; to pay all other federal, state and local taxes, assessments, fees and penalties which may be levied or assessed on or in respect to the Leased Equipment or its use or any interest therein, or rental payments thereon including but not limited to all sales and use taxes, however designated, levied or assessed upon the Co-Lessees and Lessor or either of them or said equipment, or upon the sale, ownership, use or operation thereof (other than those measured by Lessor’s net income). Lessor may pay such taxes and other amounts and may file such returns on behalf of Co-Lessees if Co-Lessees fail to do so as provided herein. Co-Lessees agree to reimburse Lessor for reasonable costs incurred in collecting any charges, taxes, assessments or fees for which Co-Lessees are liable hereunder. 11. ADVANCES.All advances made and costs reasonably incurred by Lessor to preserve the Leased Equipment or to discharge and pay any taxes, assessments, fees, penalties, liens or encumbrances thereon or to insure the Leased Equipment shall be added to the unpaid balance of rentals due hereunder and shall be repayable by Co-Lessees to Lessor immediately |