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consent of the Lessor, which consent shall not be unreasonably withheld, the Lessee may self- 40 insure the Equipment by means of a self-insurance program whereby funds are set aside and maintained for the purpose of self-insuring the property of the Lessee. If at any time during the Lease Term, the Lessor in its reasonable discretion; deems it necessary so to do, the Lessee shall provide at its expense an insurance policy covering losses to the Equipment as set forth in this Section 6.7. 6.8 Risk of Loss. The Lessee shall bear all risk of loss to the Equipment, and in the event of loss or damage thereto, the Lessee shall at its option either (i) continue to make the rental payments due hereunder and repair or replace the Equipment as mutually agreed between the Lessee and the Lessor or (ii) purchase the Equipment in accordance with the provisions set forth in Section 18 of this agreement. 6.9 Performance by the Lessor of the Lessee's Responsibilities. Any performance required of the Lessee or any payments required to be made by the Lessee, if not timely performed or paid, may be performed or paid by the Lessor, and in that event, the Lessor shall be immediately reimbursed by the Lessee for these payments and for any costs and expense, legal or otherwise, associated with the payments or other performance by the Lessor, with interest thereon at the legal rate of interest, per annum. • 6.10 Financial Statements. The Lessee'agrees that it will furnish the Lessor at such reasonable times as the Lessor shall request current financial statements (including without limitation the Lessee's annual budget as submitted or approved), and permit the Lessor or its agents and representatives to inspect the Lessee's books and records and make extracts therefrom. The Lessee represents and warrants to the Lessor that all financial statements which have been delivered to the Lessor, if any, and accurately reflect the Lessee's financial condition and there has been no material adverse change in Lessee's financial condition as reflected in the statements since the date thereof. SECTION 7. EQUIPMENT 7.1 Title. Title to the Equipment and any and all additions, repairs, replacements or modifications thereto, shall be deemed to be vested in the Lessee subject to the rights of the Lessor hereunder from and after the date of the acceptance of the Equipment so long as the Lessee shall not be in default hereunder and/or this Agreement shall not have been terminated pursuant to the provisions of Section 15 hereof, and shall vest permanently in the Lessee upon the completion of all rental payments, free and clear of any lien or security interest of the Lessor therein. Immediately upon the occurrence of an event of default by the Lessee hereunder or the termination of this Agreement under Section 15, title to the Equipment (and all additions, repairs, replacements or modifications thereto) shall revert to the Lessor, free and clear of any right, title • or interest of the Lessee unless the Lessor elects otherwise, without the necessity of any further action or the execution of any. documents by the parties. bis