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AUTOMOBILE T.EASE <br /> <br /> THIS LEASE made and entered into AuEust 1 , 1989 by and <br />between the CITY OF PT2ASANTON (hereinafter referred to as "Lessee") <br />and EAST BAY BMW, Inc. (hereinafter referred to as "Lessor"). <br /> <br /> Section I <br /> EQUIPMENT RENTAL <br /> <br /> Subject to the terms and condition hereof, Lessor leases to Lessee <br />and Lessee leases from Lessor the following equipment: <br /> <br /> 2 used automobiles <br /> to be determined by Lessor <br /> <br /> Section II <br /> TERM OF LEASE <br /> <br /> The lease for the above-stated equipment shall have an initial <br />term of twelve (12) months from the effective date of this lease. <br />Lessee may terminate at an earlier date or extend this initial period <br />by providing at least a 45-day written notice to that effect. <br /> <br /> Section III <br /> MONTHLY CHARGES <br /> <br /> The basic monthly rental shall be Five Hundred Eighty-Eight and <br />50/100 Dollars ($588.50) and shall commence on the effective date of <br />delivery of the equipment to Lessee. The basic monthly rental for each <br />day for such equipment shall be computed at the rate of one-thirtieth <br />(1/30) of the basic monthly rental charge. <br /> <br /> The monthly charge will be invoiced by Lessor as of the first of <br />each month. Payment shall be made in full within thirty (30) days <br />after the date of the invoice. <br /> <br /> Section IV <br /> MAINTENANCE <br /> <br /> Lessor shall be responsible for keeping the equipment in good <br />working order and making all necessary adjustments, parts replacements, <br />and repairs. For such purpose, Lessor shall use its own maintenance <br />service or that of a company of its selection. Lessee will provide <br />preventive maintenance service. Regular use of each used vehicle <br />rented shall not increase mileage more than 2,000 miles. If any <br />vehicle exceeds the additional 2,000 miles, Lessor shall take immediate <br />steps to deliver it to Lessee for another vehicle. No additional <br />charge (more than as agreed in the above Section III) shall be charged <br />as of a return of a vehicle due to additional mileage approaching 2,000 <br />miles. <br /> <br /> Page i <br /> <br /> <br />