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<br />AGREEMENT
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<br />F(P. 20.3328 Rell.4
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<br />Printed ,~n U.S.A.
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<br />AGREEMENT Dy and between
<br />located at
<br />State/Provinco or
<br />and the undersignod Municipality (hereInafter called the "LESSEE").
<br />
<br />Cityo!
<br />I Its successors, assigns, ~nd/or nominees (hereinafter called "LESSOR")
<br />
<br />1. DESCRIPTION OF EOUIPMENT.
<br />LESSOR has purchased the equipment described below (hereinafter relerred 10 as "Equipment") from the manufacturer and simultaneously
<br />L~SSEE hereby leases the Equipment from the LESSOR 3ubJ~cl to the terms and condItions set forth below;
<br />
<br />2, TERM OF AGREEMENT.
<br />The term of this Agreement shall be
<br />
<br />month3, beginning on
<br />,19
<br />
<br />,19
<br />
<br />I ~nd ending on
<br />
<br />3. PAYMENT.
<br />a LESSEE agrees to pay to LESSOR a total of. payments of $
<br />$: I pillS Intorest applled to the principal a1 thQ rale of
<br />in a finance charge of $ according to the following schedule:
<br />1. An advance payment in lhe sum of S to be applied to the first rental period.
<br />2. The balance of the total of payments to be payable in payments of S each due at the
<br />beginning of i,tach month portion beginning the day of ,19
<br />b. LESSEE hereby agrees 10 pay interest on each paymont past due more than ten (10) days at the highest contract rate allowed by law.
<br />4. MUNICIPALITY'S OPTION TO PURCHASE.
<br />LESSOR nereby ~rants to LESSEE (municipality) lhe option to purchase the Equipment, provided that LESSEE gives notice to LESSOR, In
<br />wrltlng, of his Intention to exercise the optIon at lease days prior to the expiration of this AgreElment, and provided further that
<br />LESSEE'S right to 50 purchase the Equipment is conditioned on LESSEE's complete performance ot all the terms and provisions of this
<br />Agreement on Its part to be performed) in<;ludlng full compJJance with tne payment as specified tlerein.
<br />a. ShOuld LESSEE exercise the opllon to purcnase, % 01 lhe portion of eacn payment applied to principal paid hereunder shalt be
<br />applied to Ihe purChase price 01 the Equipment. On receipl of tna balance ollhe purChase price by LESSOR, together wltha"sum equal to
<br />any new or applicable unpaid sales and use taxes, LESSOR will transfer title of the Equipment to LESSEE, and wi1l deliver, on written
<br />requesl, written evidence 01 the transfer of such title.
<br />b. The purchase Price of the Equipment applicable to thiS option to purch.,e is the sum of $-,
<br />5. LOCATION OF EQUIPMENT.
<br />a. The EQuipment shall be located at during the entire term of Ihls Agreement.
<br />LESSE.E snail not. without the prior written consent of LESSOR, permit the Equipment to be removed from this location.
<br />b. At lhe request of LESSOR, LESSEE will join LESSOR In executing one or more Financing Statements, pursuant to the Uniform
<br />Commerci~l Code or other regIstration law applicable to the location of the Equipment and/or the LESSEE, in form satisfactory 10
<br />LESSOR; LESSEE will pay the cost of liling the Financing Slalement(s) in all puollc oflic.s wherever Iiling is deemed by LESSOR to be
<br />necessary or desirable.
<br />6. WAR RANTY.
<br />LESSOR makes no representations or warrantl~$ with respect to the EquIpment set forth herein. Any warrantlesrrOVlded by LESSOR on the
<br />Equipment set forth herein shall be given to LESSEE undt:lr separate agreement provIded by the manufacturer 0 the Equipment, the receipl
<br />whereof Is hereby acknowled~ed by LESSEE.
<br />7. MUNICIPALITY RESPONStBILITIES.
<br />a. LESSEE assumes and will pay all costs and expenses of any charactar, arisIng from Ih(i use, possession, or maintenance of said
<br />Equipment.
<br />b_ LESSEE shall keep the Equipment freo of all lions, taxes) encumbrances and seIzure or levy; Shall ['\ot use sama Illegally, shall not damage,
<br />abuse, mlsu5e, abandon or lose said Equipment; shall not part with possessIon thereof, whethor voluntarily or invountarily or transfer any
<br />Interest therein.
<br />c. LESSEE at its own cost and expense shall maintain property damage Insurance against "all.risk of prwsical damage" in such amounts as
<br />LoSSOR may reasonably require. Such Insurance shall be in a form and with companies as LESSOR shall approve, which approvai shall
<br />not be unreasonably withheld, shall name LESSOR as an additional Insured and shall provide that such insurance may oat be cancelled or
<br />allered as 10 LESSOR withOut alleast len (10) d.ys prior written notice 10 LESSOR. LESSEE shall delivery to LESSOR on or betore the date
<br />on which the Equipment Is delivered evidence satislactory to LESSOR os such insurance.
<br />O. Upon execution 01 this Agreement) LESSEE shall provide LESSOR with an OPiNION OF COUNSEL substantially In the form annexed
<br />hereto as Exhibit A.
<br />
<br />consisting of a principal amount of
<br />% per annum which results
<br />
<br />a. LESSOR RIGHT OF fNSPECTION.
<br />LESSOR shall have the right at any time to enter the premi,es 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 1UI'I0$ are not allotted by th~ LESSEE for the next fiscal periOd sufficient to continue making the payments set forth in Section "3" hereof,
<br />LESSEE may terminate thIs Agreement upon the expiration of the then currenlllscal year. LESSEE agrees to ptovide lESSOR immediate
<br />notice of Its intention to terminate.
<br />10. NON.SUBSTITUTION.
<br />The Lessee agrees that in the event the Lessee exercises Its right to terminato this lease In accordance with the non.appropriation provisions
<br />contained herein, the Lessee will not purchase, lease. or rent other equiRment for the purpose of performing the functions and projects which
<br />were to be performed by the leased equjpm~nt tor a periOd of nInety (SO) days frorn the date of terminatiOn of this Lease,
<br />11. EXPIRATION OF AGREEMENT.
<br />a. At the expiratlon of 1he term of this Agreement as set forth in SQction "2", and if LESSEE tlas elected oot to exercise an option to pun;:hasa
<br />described In Section "4", LESSEE 5hall be responsiole for the delivery of It'e Equipment to a place designated by LESSOR.
<br />b, At its option, LESSOR may enter the premiSt,)$ of LE.SSEE tor the purpose of affecting tho removal of the EQuipment to the locatIon
<br />de5ignated by LESSOA. If LESSOR exercises this option, LESSEE shalf be responsIble for the costs associated wllh the removal ot the
<br />Equlpmenl to the location designated cy LESSOR. F'XHIRIT A .
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