TERMS AND CONDITIONS OF HIRE

1. Classic Forklifts agrees to Hire to the Customer the equipment for use only by the customer. The Customer must pay to Classic Forklifts, Hire payments as detailed in Schedule D for the use of the Equipments.

2. CLASSIC FORKLIFTS OBLIGATIONS

2.1 Classic Forklifts will supply the Equipment to the Customer on the Basis of the Specifications provided by the Customer to Classic Forklifts, and Classic Forklifts shall also:

(a). maintain and service the Equipment during the term of this Agreement together with being responsible for only fair wear and tear expenses incurred in relation to the operation of the Equipment.

(b). supply and fit appropriate tyres once every twelve (12) calendar months of hire (if required) by the Customer or as otherwise agreed.

(c). Classic Forklifts may at any time during this Agreement assign its interest to any party.

(d). Classic Forklifts may annually review and adjust rental rate in accordance with the Australian or Queensland Consumer Price Index (CPI).

3. CUSTOMERS OBLIGATION

3.1 The Customer prior to the Delivery of the Equipments, must supply detailed specifications of the type of usage the Equipments will be required for in its business and Classic Forklifts will provide the Equipments that is appropriate for the Customers use. The Customer must comply with the following:

(a). to pay the Hire Payments and any other expenses noted on the invoice issued monthly by Classic Forklifts to the Customer within thirty (30) days of the date of the invoice.

(b). to keep the Equipment at the premises noted in Schedule E; unless prior arrangements are made with Classic Forklifts

(c). to allow any representative of Classic Forklifts to enter upon the premises where Equipments if located for the purpose of inspecting and testing the Equipments.

(d). to take comprehensive insurance over the Equipment to cover public and third party risk together with theft, fire, flood and economic loss;

(d.1). insurance policy cover to state Classic Forklifts as well as other interested parties.

(e). to make the Equipments available for service and repair during normal working hours or pay an additional charge to Classic Forklifts if Classic Forklifts is required to service or repair the Equipment outside of normal working hours, unless arranged.

(f). to ensure that the operators of the Equipments are appropriately qualified and licensed to use the Equipment as supplied.

(g). to undertake daily checks of the battery, radiator, water and oil levels of the Equipments; to repair punctures.

(h). not deal in any way with identification marks that evidence the ownership of the Equipment.

(i). shall immediately advise Classic Forklifts of any damage to the Equipments or any part thereof and other than damage due to fair wear and tear shall be respons ible for the cost of repairing, replacing or making good the Equipments including parts and labour where any such damage arises from failure to use the utmost care of any negligent or willful act or omission by the Customer to the Customers servants, contractors or agents.

(j). will make no additions, alterations to the Equipments without prior arrangements with Classic Forklifts.

(k). shall not allow without the permission of Classic Forklifts, the Equipment to be used by any other party or to use the Equipment for any other purpose stated to Classic Forklifts.

(l). be responsible for all stamp duty and all other taxes that the Government may impose upon the Hire of the Equipment.

(m). will not purport or attempt to sell, dispose of, charge or encumber the Equipment or assign the Customers rights under this Agreement.

4. CUSTOMERS DEFAULT

4.1. The Customer is in default, if in the opinion of Classic Forklifts, the Customers has performed its obligations imposed underClause 3 and in the event that the Customer has not complied with the terms of this agreement in any way, then Classic Forklifts shall be at liberty to regain possession of the Equipment and enforce at law the payment of all monies outstanding by the Customer to Classic Forklifts.

5. WARRANTIES AND REPRESENTATIONS

5.1. Classic Forklifts makes no warranties, representations or guarantees other than those expressly contained in the Agreement.

6. LIABILITY

6.1. Classic Forklifts liability is limited to providing the Equipment to the Customer and Classic Forklifts shall not at any stage be liable for any damage in contract, tort or otherwise.

7. INDEMNITY

7.1. The Customer shall indemnify and hold indemnified Classic Forklifts from and against all claims, actions, suits, demands, cost and expenses including all legal costs (on a solicitor and own client basis) and expenses in any way arising out of the use of the Equipment whether or not it is caused by the negligence of the Customer, its servants or agents or by the negligence of others.

8. GOVERNING LAW

8.1. The Laws of the State of Queensland shall apply to this agreement.

9. EARLY REPAYMENT

9.1. It is agreed between Classic Forklifts and the Customer that is a fundamental term of this Agreement that the Hire of the Equipment shall be for the period not less than the period set out in the Schedule C and for any reason the Customer wishes the period or Hire of the Equipment is to be less, then the Customer must pay upon return of the Equipment to Classic Forklifts, a sum as follows:

(a). the sum calculated on the basis of 80%of the balance of the Hire payments remaining under this Agreement; and

(b). such other reasonable expenses as may be incurred by Classic Forklifts in the early return of the Equipment to Classic Forklifts to release the Customer of its obligations under this Agreement.

10. TERMINATION OF THIS AGREEMENT

10.1. Classic Forklifts may terminate the Agreement by notice to the Customer in any of the following events, namely;

(a). if the Customer commits any breach of this Agreement; if the Customer commits or suffers any act of bankruptcy:

(b). if the Customer (being a Company) goes into liquidation; is wound up, a Receiver or Manager or Controller is appointed to any of the assets of the Customer or if any official Receiver or Administrator is appointed; has execution or distress levied against the Customers goods.

10.2. Upon the expiration of the Hire period (or any further period pursuant to Clause 10.4) or the termination of this Agreement pursuant to Clause 11.1 the Customer shall immediately return the Equipment to Classic Forklifts at its principal place of business and pay to Classic Forklifts all Hire charges that would otherwise have been payable from the date of termination of this Agreement to the date of Expiration of the hire period.

10.3 In the event that the Customer does not immediately return Equipment to Classic Forklifts as required by Clause 10.2 Classic Forklifts may enter onto any premises on which it reasonably suspects the Equipment to be.

10.4. Should the Customer express consent of Classic Forklifts continue to retain possession of the Equipment after the expiration of the Hire period then the Customer shall (insofar as applicable) continue to observe the terms, conditions and obligations on the part of the Customer to be performed or observed pursuant to this Agreement but either party hereto may terminate the Hire of the Equipment by not less than seven (7) days prior written notice to the other party.

11. ENTIRE AGREEMENT

11.1. Both parties agree that this Agreement is the entire Agreement entered into by Classic Forklifts and the Customer and any waiver, amendment or modification will not be binding unless it is in writing and signed by authorized representatives of Classic Forklifts and the Customer.

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