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Pri.~ted in U.S.A. AGREEMENT Form No. 3328 Rev. 2
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<br />AGREEMENT by and between Case war & Eq ui proant
<br />
<br />located at 13880 Catalina Street ,cityof San Leandro
<br />State of C.a ] i fnrni a , its successors, assigns, and/or nominees (hereinaft~r called "LESSOR") and
<br />the undersigned Municipality (hereinafter called the "LESSEE").
<br /> 1. DESCRIPTION OF EQUIPMENT.
<br /> LESSOR has purchased the equipment described below (hereinafter referred to as "Equipment") from the manufacturer and simultaneously
<br /> LESSEE hereby leases the Equipment from the LESSOR subject to the terms and conditions set forth below:
<br /> Case 580-DX S/N 9066670 with 4-1 Bucket,
<br /> 30" Preco Bucket, Dual Lever Controls
<br />
<br /> 2.TERM OF AGREEMENT,
<br /> The term of this Agreement shall be 48 months, beginning on September I 19 83 . and ending on
<br /> September 1 .19 87
<br /> 3. PAYMENT,
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<br /> I i I at the rate of ~. 0 % per annum which results in a finance
<br /> charge of $ ~ ~ 1~ ~ I. 71 accordin9 to the following schedule:
<br /> 1. An advance payment in the sum of $ -0- to be applied to the first rental period.
<br /> 2. The balance of the total of payments to be payable in 48 'payments of $ 815.42 each due at the beginning
<br /> of each month portion beginning the 1St day of . September , lg 83
<br /> b. LESSEE hereby agrees to pay interest on each payment past due more than ten (10) days at the highest contract rate allowed by law.
<br /> 4, MUNICIPALITY'S OPTION TO PURCHASE,
<br /> LESSOR hereby grants to LESSEE (Municipality) the option to purchase the Equipment, provided that LESSEE gives notice to LESSOR, in
<br /> writin . of his intention to exercise the option at least ~ days prior to the expiration of this Agreement and provided further that
<br /> LESS~E'S right to so purchase the Equipment is conditioned on LESSEE'S complete performance of all the t~'rms and provisions of this
<br /> Agreement on its part to be performed, including full compliance with the payment as specified herein.
<br /> a, Should LESSEE exercise the option to purchase. 100 % paid hereunder shall be applied to the purchase price of the Equipment. On
<br /> receipt of the balance of the purchase price by LESSOR. together with a sum equal to any new or applicable unpaid sales and use taxes,
<br /> LESSOR will transfer title of the Equipment to LESSEE, and will deliver. on written request, written evidence of the transfer of such title.
<br /> b. The Purchase Price Of the Equipment applicable to this option to purchase is the sum of $ 32,802.45
<br /> 5. LOCATION OF EQUIPMENT.
<br /> a. The Equipment shall be located at 5335 SURO], P1 eas anton during the entire term of this Agreement.
<br /> LESSEE shall not, without the prior written consent of LESSOR, permit the Equipment to be removed from this location.
<br /> b. AttherequestofLESSOR. LESSEEwilljoin LESSOR inexecutingoneormor~FinancingStatements, pursuanttotheUniformCommercial
<br /> Code or other registration law applicable to the location of the Equipment a nd/or the LESSEE, in form satisfactory to LESSOR; LESSEE will
<br /> pay the cost of filing the Financing Statement(s) in all public offices wherever filing is deemed by LESSOR to be necessary or desirable.
<br /> 6,WARRANTY.
<br /> LESSOR makes no representations or warranties with respect to the Equipment set forth herein. Any warranties provided by LESSOR on the
<br /> Equipment set forth herein shall be given to LESSEE under separate agreement provided by the manufacturer of the Equipment, the receipt
<br /> whereof is hereby acknowledged by LESSEE.
<br /> 7. MUNICIPALITY RESPONSIBILITIES.
<br /> a, LESSEEassumesandwi~~paya~lc~stsandexpenses~fanycharacter~arisingfr~mtheuse~p~ssessi~n~~rmaintenance~fsaidEquipment
<br /> b, LESSEE shall keep the Equipment free of all liens, taxes, encumbrances and seizure or levy; shall not use same illegally, shall not damage,
<br /> abuse, misuse, abandon or lose said Equipment; shall not part with possession th3reof, whether voluntarily or involuntarily or transfer any
<br /> interest therein.
<br /> c. LESSEE at its own cost and expense shall maintain property damage insurance against "all-risk of physical damage'.' in such amounts as
<br /> LESSOR may reasonably requi re. Such insurance shall be in a form and with companies as LESSOR shall approve, which approval sha [I not
<br /> be unreasonably withheld, shall name LESSOR as an additional insured and shall provide that such insurance may not be cancelled or
<br /> altered as to LESSOR without at least ten (10) days prior written notice to LESSOR. LESSEE shall deliver to LESSOR on or before the date on
<br /> which the Equipment is delivered evidence satisfactory to LESSOR of such insurance.
<br /> d. Up~nexecuti~n~fthisAgreement~LESSEEsha~~pr~videLESS~Rwithan~P~NI~N~FC~UNSELsubstantia~~yinthef~rmannexedheret~
<br /> as Exhibit A.
<br /> 8. LESSORS RIGHT OF INSPECTION.
<br /> LESSOR shall have the right at any ti me to enter the premises occupied by the Equipment and shall be given free access thereto and afforded
<br /> necessary facilities for the purpose of inspection.
<br /> 9,NON-APPROPRIATION.
<br /> If funds are not allotted by the LESSEE for the next fiscal period sufficient to continue making the payments set forth in Section "3" hereof,
<br /> LESSEE may terminate this Ag. raement upon the expi ration of the then current fiscal year. LESSEE agrees to provide LESSOR immediate notice
<br /> of its intention to terminate.
<br />10. NON-SUBSTITUTION.
<br /> The Lessee agrees that in the event the Lessee exercises its right tc~ terminate this lease in accordance with the non-appropriation provisions
<br /> contai ned herei n, the Lessee will not purchase, lease, or rent other equipment for the purpose of performing the functions and projects which
<br /> were to be performed by the leased equipment for a period of ninety (90} days from the date of termination of this Lease.
<br />11. EXPIRATION OF AGREEMENT,
<br /> a. At theexpirati~n~ftheterm~fthisAgreementassetf~rthinSecti~n"2"~andifLESSEEhasele~tedn~tt~exercisean~pti~nt~purchase
<br /> described in Section "4", LESSEE shall be responsible for the delivery of the Equipment to a place designated by LESSOR.
<br /> b. At its option, LESSOR may enter the premises of LESSEE for the purpose of effecting the removal of the Equipment to the location
<br /> designated by LESSOR, If LESS~E)R exercises this option, LESSEE shall be responsible for the costs associated with the removal of the
<br /> E~quipment to the location designated by LESSOR.
<br />12. EVENTS CONSTITUTING LESSEE DEFAULT.
<br /> LESSOR may terminate this Agreement immediately upon the occurrence of any of the following events:
<br /> a, LESSEEfaiIst~paywhendueany~fthepayments~~rt~~erf~rm.~rrectifybreach~f~any~b~igati~nassumedbyLESSEEinthisAgreernent
<br /> b. LESSEE makes an assignment for benefit of creditors, or is subject to any receivership. insolvency or bankruptcy proceedings.
<br /> c. Any other event which causes LESSOR, in good faith. to deem itself insecure.
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