The lessee agrees to pay the rental price for equipment rented. Should said equipment, or any part thereof, be lost, damaged, or destroyed by fire, casualty of any kind, act of god or other act or accident, the lessee agrees to pay the full replacement value of the equipment as well as all accrued rental value. Rent shall be due whether or not such loss has occurred. Obligation to pay rent shall only cease at point of payment for all losses suffered by lessor.
The lessee agrees to and does hereby hold Current Waves Lighting Service (Lessor), its agents, and employees harmless of any and all forms of losses, damages, claims, and demands of liability of any kind or nature, including legal expenses, arising from the use, condition (including without limitation to latent and other defects) or operation of the equipment rented by force and effect during the rental term. The indemnification shall continue in full during the term of the rental.