Laserfiche WebLink
<br />'1<183475 BAKER 7-24-97 <br /> <br />. <br /> <br />. <br /> <br />NOTE & SECURITY AGREEMENT <br />(EQUIPMENT) <br /> <br />City of Paris <br />Debtor's Name <br />Paris <br />City <br /> <br />Lamar <br />County <br /> <br />P.O. Box 9037 <br />S (reet Address <br />Texas 75461-9037 <br />State Zip Code <br /> <br />(hereinafter caned in accordance with the terms and provisions of the Uniform Commercial Code - DEBTOR), having been quoted both a <br /> <br />lime price of $ 191 ,336 .67 and a cash price of $ 164 .950 .00 and having elected 10 purchase the equipmenl described <br />below on a time price basis, agrees to pay DarT Equipment Co. (hereinaner called in accordance with the terms and provisions of the Uniform <br />Commercial Code - Secured Party) whose address is Highway 183 and Loop 12. Irving, Dallas County. Texas. <br /> <br />(Mailing address: P.O. Box 540788. Dalla,. Texas 75354-0788) the time pncc ofS------1.9l,3}6. 67 a, follows: S -0- <br /> <br />which wa, paid with order, receipt of which i, hereby acknowledged by Secured Party. $ -0- on dclivery and the <br /> <br />remainder (Time Balance) of S 191,336.67 in 60 consecutive installments. the fitst installment due <br /> <br />8-16-97 <br /> <br />and subsequent installments due the same date <br /> <br />monthly <br /> <br />(monthly. unless otherwise <br />except the final installment <br /> <br />,pecified) thereafter. Each installment ,hall bc in thc amount of $ <br />3,188.62 <br /> <br />3,188.95 <br /> <br />which ,hall be $ <br /> <br />. payment' 10 be made in lawful money of the United Slate' at Secured Party's <br /> <br />o.ffice in Dallas County, Texas. Past due installments shalt bear interest at t~e highest legal contract rate of interest permissible in the State of <br /> <br />lexa,. <br />EQUIPMENT: One (1) New Caterpillar Model M3l8 Wheel Excavator, SiN 8AL0094l <br /> <br />Interest at 6.0% simple included in payments. <br /> <br />For value received, Debtor hereby grant' to Secured Party a security intere,t in the above described equipment of Debtor <br />(,aid equipment being hereinafter referred to as Collateral), together with all attaclunent,. acce"ories, addition, and appurtenances <br />thereto. <br />The ,ecurity intere,t hereby granted secures the payment of the Time Balance of $ 191,336.67 owed <br />by Debtor to Secured Party on Ihe purcha,e price of the Collateral. <br /> <br />DEBTOR represents and warrant, as follows: <br /> <br />Collateral i, to be used for: 0 farming operation; orlO bu,ines, other than farming operation,. <br />Collateral i, 0 now owned by DEBTOR or Ii{] i, being acquired by DEBTOR from SECURED PARTY or is being acquired with <br />the proceed, of lhe advance evidenced by this agreement. <br /> <br />DEBTOR and SECURED PARTY as u,ed in thi, Note & Security Agreement include, the heirs. executor, and administrators. <br />successors and assigns of those parties. <br /> <br />! <br />