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Grain Bag Lease Agreement

GRAIN BAG LEASE AGREEMENT

THIS AGREEMENT is dated with effect as of the Date (the “Lease”).

BETWEEN:

102170667 SASKATCHEWAN INC.

(the "Lessor")

AND:

(the "Lessee")

For good and valuable consideration, the receipt and sufficiency of which is acknowledged by the parties, the Lessor and Lessee agree as follows:

Lease: The Lessor hereby agrees to lease to Lessee, and Lessee hereby agrees to lease from Lessor, the following number of grain bags (the “Bags”).

Term and Lease Payments: The Lessee shall pay the Lessor $ for each Bag. Each Lease shall be for a term of years.

Taxes: The Lessee shall pay any applicable GST and PST payable on the Lease.

Inspection and Acceptance by Lessee: Within 48 hours after delivery of the Bags to be leased to the Lessee, Lessee shall fully inspect the Bags. Unless within said 48-hour period Lessee notifies Lessor in writing to the contrary stating the details of any defects, Lessee shall be conclusively presumed to have accepted the Bags in its then condition. If within said 48-hour period Lessee notifies Lessor in writing of the unacceptability of the Bags, Lessee's obligations to lease the Bags shall cease forthwith. Upon acceptance of delivery, Lessee assumes the care, custody, supervision and control of the Bags and of any and all persons or property in the vicinity of the Bags during the time of delivery, operation and return.

Freight: All costs of transporting the Bags to Lessee's location and of transporting the Bags from such location back to Lessor will be at the expense of the Lessee. In the event the Lessee is directed by the Lessor to return the Bags to any place other than the Lessor's yard, all increased expense caused by such change shall be credited to the Lessee.

Use: Lessee agrees to use the Bags in a safe, careful and prudent manner with competent and duly qualified agents, employees or subcontractors, in accordance with the specifications of the manufacturer of the Bags and in accordance with any applicable regulations and good industry practices. Lessee agrees to pay for all damages to the Bags resulting from abusive use, failure to maintain the Bags in accordance with this Agreement, or from any negligence on the part of Lessee, its agents, employees or subcontractors.

Maintenance and Inspection by Lessor: Upon delivery of the Bags, Lessee shall have care, custody and control of the Bags and shall have the responsibility for installation, day-to-day routine inspection and maintenance and all service and repair of the Bags. Lessee shall furnish all labour, parts and other materials necessary to service and repair the Bags in order to keep it in good repair, condition and working order, and not damages, lost or destroyed beyond ordinary wear and tear, except for any labour, parts and other materials furnished by the Lessor or by the manufacturer of the components of the Bags in accordance with the manufacturer's warranties. The Bags shall be returned to Lessor in good working order and condition. Lessor or its agents shall have the right to enter upon the premises where the Bags are kept to inspect the Bags and to investigate the use of the Bags during reasonable business hours.

Licenses, Permits and Compliance: Lessee, at its sole expense, shall;

comply with all applicable rules and regulations of any Federal, Provincial, City, local, municipal or regulatory agency (hereinafter referred to as "Governing Bodies") relating in any way to the possession, operation, use or maintenance of the Bags in the location, or environmental requirements or regulations associated therewith; and
obtain and maintain throughout the rental term, or any extension thereof, any and all licenses and/or permits required from any Governing Bodies and to bear the expense of any license and/or permit fees assessed as a result of this Agreement or against said Bags.

Lessee further agrees to defend protect, indemnify and hold harmless Lessor from any and all liability associated with its failure to comply with the foregoing provisions.

Indemnity of Lessor:

Lessee is responsible and liable for loss of or damage to Bags arising between the time of delivery and redelivery of the Bags and Lessee shall protect, defend and hold harmless Lessor and its employees from and against any such loss or damage, however arising, including but not limited to, improper operations, improper maintenance (unless Lessor performs maintenance), negligent acts of the Lessee, compression of dirty or wet gas, fire, freezing, theft, windstorm, hailstorm, flood, riot, insurrection or explosion, except to the extent such loss or damage arises directly as a result of the negligence of Lessor.
Lessee agrees to protect, defend, indemnify and hold harmless Lessor and its employees from and against any loss or damage or liability, actions, suits, claims, demands, cost and/or expenses, however occurring and including, but without limitation to the foregoing, any loss or damage to property (other than the Bags) arising between the time of delivery and redelivery of the Bags, whether such property is owned by Lessee or third party, and for injury to or death of persons, whether Lessee or its employees or third parties, and any escape, release, discharge or emission of any substance which causes any harmful or deleterious effect to any person, animal, plant or property or to the environment, except to the extent such loss or damage arises directly as a result of the negligence of Lessor.

Assignment: Lessor may assign its rights and delegate its duties under this Agreement. Lessor covenants to Lessee that Lessor is empowered to execute this Agreement. If Lessor assigns the lease payments reserved herein or all or any of Lessor's rights hereunder, such assignee's rights shall be independent of any claim of Lessee against Lessor. Lessee on receiving notice of any such assignment shall abide thereby and make payment as may therein be directed. Following such assignment, the term "Lessor" shall be deemed to include or refer to Lessor's assignee, except such assignee's right shall be independent of any claim of Lessee against the Lessor and hereinabove provided. Neither this Agreement of Lessee's rights hereunder shall be assigned by Lessee except with Lessor's prior written consent. The conditions hereof shall bind any permitted successors and assigns of Lessee.

Warranties: THERE ARE NO EXPRESS WARRANTIES WITH RESPECT TO THE BAGS UNLESS THEY APPEAR IN WRITING SIGNED BY THE LESSOR AND THERE ARE NO IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE IN CONNECTION WITH THE LEASE OF THE BAGS.

Waiver: To the extent not prohibited by law, the Lessee waives all of the rights, benefits and protection given by the Limitations of Civil Rights Act (Saskatchewan) shall have no application to this Agreement or the rights, power or remedies of the Lessor hereunder. To the extent permitted by applicable law, the Lessee also waives any other provision of law, which renders any provision hereof unenforceable in any respect. Each lease payment made by the Lessee shall be final and the Lessee will not seek to recover all or any part of any such lease payment from the Lessor for any reason whatsoever.

Enforceability and Irrevocability: If any part hereof is contrary to, prohibited or deemed invalid under applicable laws or regulations of any jurisdiction, such provisions shall be inapplicable and deemed omitted but shall not invalidate the remaining provisions hereof. Lessee acknowledges the receipt of a true copy of this Agreement. This Agreement is irrevocable for the full term hereof and for the aggregate lease term herein reserved, and the lease payments shall not abate by reason of termination of Lessee's rights of possession and/or the taking of possession by Lessor or for any other reason.

Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the Province of Saskatchewan, in force at the date of this Agreement. The courts of the Province of Saskatchewan shall have exclusive jurisdiction in respect of any disputes hereunder.

Executed this Signed Date .

THE LESSEE

Per:

Name:
Title:

THE LESSor

102170667 SASKATCHEWAN INC.