(a) Except as otherwise provided in subsection (b) of this section, on the termination of a lease contract, all obligations that are still executory on both sides are discharged.
(b) The following survive termination of a lease contract:
(1) A right based on a previous default or performance of the lease contract;
(2) A term limiting the scope, manner, method or location of the exercise of rights in the goods;
(3) An obligation of confidentiality, nondisclosure or noncompetition;
(4) A choice of law or forum;
(5) An obligation to return or dispose of goods or return any unearned part of the rent;
(6) An obligation to arbitrate or otherwise resolve disputes through alternative dispute resolution procedures;
(7) A term limiting the time for bringing an action or for providing notice;
(8) An indemnity term;
(9) A limitation of remedy or disclaimer of warranty;
(10) An obligation to provide an accounting and make any payment due under the accounting;
(11) Other rights, remedies or limitations stated in the agreement as surviving to the extent enforceable under applicable law; and
(12) Other rights, remedies or limitations if in the circumstances their survival is necessary to achieve the purposes of the parties.
(P.A. 02-131, S. 27.)