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<br />AUG 6 '93 16:45
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<br />FROM COMM LNDG-MUNICIPAL~2
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<br />PHGE.003
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<br />FORO MOTOR CREOIT COMPANY
<br />n. ..; EQUIPMENT LEASE-f'URCHASE AGREEMt;.>IT
<br />Lease No.
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<br />Lessee: SAMPLE DOCUMENTS ONLY
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<br />Lessor agrees to lease to Lessll8 and Lessee agrllllS to IlIasll from,
<br />l.essor thJ !:quipment described in any Schedule A now or hereafter
<br />anach&<! hereto ("Equlpmllnl1ln accordance with the following terms
<br />and condillons of this Laese-purehase Agreement rl.easej.
<br />
<br />I. TERM. This Lease will become effective upOn the execution
<br />hereof by l.esSOf. The term of Ihis LellS8 will commence on the date
<br />the Equipment is accepted pursuant to Section 3 hereunder and,
<br />unlsss earlier lenninllted as expressly provided for in this Lease, will
<br />continue until \he expiration date (the 'Expiration Date') set forth In
<br />Schedule A attached ,hereto (the 'Lease Term').
<br />"ki:_"i.
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<br />c- ;':' i.~: '. '
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<br />2. RENl'. ~El agrees to pay to Lessor or its assignee the
<br />l.ease Payments, IncJuding the interest portion, equal to the amounts
<br />specifled in SchilduleA.- 'The Lease Payments will be payable w~hout
<br />notice or'demantt"at the ofltce of' Lessor (or such other place as
<br />Lessor or lis ilsS/gnee may !rom time to time designate in wrftlng),
<br />and will corivnenceon the first LeN<l Payment Date.as set forth in
<br />Schedule A end thereafter On the subsequent detis set forth in
<br />Schedule ^'~ payments received Jater than ten (10) days from the
<br />due date will bear Interest Blthe highest lawful rate from the due date.
<br />Except as specifically provided In Section, ~ ,hereof, the obligation of
<br />Lessee to make the Lease P;lYments hereunder and pelform all of its
<br />other ob&gatlons hereunder will be absolule and uncondftional in all
<br />events and will not be subject to any setoff, defense, counterclaim, or
<br />recoupment for any reason whatsoever including, without limitation,
<br />any failure of the Equipment to be'delivered or Installed, any defects,
<br />malfunctions, breakdowns or inlirmftles In the Equipment or arry
<br />acciden~ condemnation or unforeseen circumstances. Lessee
<br />reasonably believes that funds can be obtalnlld sufficient to make all
<br />Lease Payments during the Lease Term. It is Lessee's Intent to make
<br />Lease Payments for the full Lease Term if funds are iegally available
<br />1 herelor and in th8l regard Lessee represents that the use of the
<br />"quipment is essential I~ fts proper, efficient and economic operation.
<br />LeSSO( and Lessee understand and intend that the obligation of
<br />Lessee to pay Lease Payments hereunder sheli constftute a current
<br />expense 01 Lessee and shall nOl In any way be construed to be a
<br />debl of Lessee in contravention of any applicable constnutionaJ or
<br />5lalUlOl}' limnatlon or requirement concerning the creation of indebt-
<br />Gdness by Lessee, nor shall anything contained herein constitute a
<br />pledge of the general tax reVenues, funds or monies of Lessee.
<br />
<br />3. DELIVERY AND ACCEPTANCE. Lessee, or if Lessee so
<br />:equeslS, Lessor; will cause the Equipment to be delivered to Lassee
<br />:,1 the location speclfled In Schedule A iEquipment Location').
<br />'.essee wiU pay all transportation and other costs, if any, Incurred in
<br />:onnection wfth thi delivery and installation of the EqUipment.
<br />'.essee Wi" accept the Equipment as soon as ft has bllen delivered
<br />-.nd is operational. LGSSee will 8IIldence tts' acceptance of lhe
<br />Equipmint by executing and delivering to Lessor a Delivery and
<br />Acceptllnce Certificate ~n the form provided by Lessor) wfthln three
<br />days 01 delivery of thi Equipment,
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<br />4. DlSClAlMER OF WARRANTIES. LGSSee acknowledges and
<br />"grees that the Equipment is of a size, design and capacity seleded
<br />:'y Lessee, 1hat L&$$Or is neither a manufacturer nor a vendor of such
<br />','quipmem, thai LESSOR LEASES AND LESSEE TAKES THE EQUIP-
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<br />'u....e2:l. ISl93.Tc_ ~~"'4yNOrbr.utoAd
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<br />EXHIBIT 8
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<br />..,It....
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<br />Lessor: Ford Molar Credft Company
<br />P. O. Box 1739
<br />Dearborn, MI 48121-1739
<br />
<br />MENT AND EACH PART THEREOF 'AS.IS' ANOTHAT LESSOR HAS
<br />NOT MADE. AND DOES NOT HEREBY MAKE, AN'( REPRESENTA-
<br />TION, WARRANTY. OR COVENANT, EXPRESS OR IMPLIED, WITH
<br />RESPECT TO THE MERCHANTABILITY, CONDmON, QUALITY,
<br />DURABILITY, DESIGN, OPERATION, FITNESS FOR USE, OR SUIT-
<br />ABILITY OF THE EQUIPMENT IN ANY RESPECT WHATSOEVER OR
<br />IN CONNECTION WITH OR FOR THE PURPOSES AND USES OF
<br />LESSEE, OR AS TO THE ABSENCE OF LATENT OR OTHER DE.
<br />FECTS, WHETHER OR NOT DISCOVERABLE, OR AS TO THE
<br />ABSENCE OF ANY INFRiNGEMENT OF At-fY PATENT, TRADEMAA
<br />OR COPYRIGHT, OR AS TO At-fY OBLIGATION BASED ON STRICT
<br />LIABILITY IN TORT OR ANY OTHER REPRESENTATION, WARRAN.
<br />TY, OR COVENANT OF ANY KIND OR CHARACTER, EXPRESS OR
<br />IMPLIED, WITH RESPECT THERETO, IT BEING AGREED THAT ALL
<br />RISKS INCIDENT THERETO ARE TO BE BORNE BY LESSEE AND
<br />LESSOR SHALL NOT BE OBLIGATED OR LIABLE FOR ACTUAL,
<br />INCIDENTAL, CONSEQUENTIAL, OR OTHER DAMAGES OF OR TO
<br />LESSeE OR ANY OTHER PERSON OR ENTITY ARISING OUT OF
<br />OR IN CONNECTION WITH THE use OR PERFORMANCE OF THE
<br />EQUIPMENT AND THE MAINTENANCE THEREOF. Lessor hereby
<br />assigns to Lessee during the Lease Term, so long as no !:vent of
<br />Defaun has occurred hereunder and Is continuing, all manufacturer's
<br />warranties, if any, expressed or implied with respect to the Equip-
<br />ment, and Lessor authorizes Lessee to obtain the customary services
<br />fumlshed in connedion wnh. such warranties at Lessee's expense.
<br />Lessee's sole remedy for the breach of any such manufacturer's
<br />warranty shall be against the manufadurer of the Equipment, and nol
<br />against Lessor. Lessee expressly acknowledges lhat Lessor makes,
<br />and has made, no representations or warranties whatsoever as to the
<br />existence or the availability of such warranties of the manufadurer of
<br />the Equipment.
<br />
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<br />5. RETURN OF EQUIPMENT. Unless Lessee shall have exer.
<br />cised as purchase option as prOVided in Section 20 hereof, upon the
<br />expirallon or earlier termination of this Lease pursuant to the terms
<br />hereof, Lessee shall, at as sole expense but at L.esso(s option, return
<br />the Equipment to Lessor packed for shipmeN in accordance wfth
<br />manufacturer's spec~ications and freight prepaid and Insured to any
<br />location In the conlinental Untted States designated by Lessor.
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<br />6. NON-APPROPRIATlON OF FUNDS. NoIwilhstanding anything
<br />containea in this Lease to the contrary, in the event no funds or
<br />insufficient funds are appropriated and budg8l8d or are otherwise
<br />unavailable In arry fIScal pertod for Lease Payments due under this
<br />Lease, Lessee will immediately notify Lessor or its assignee in wrtting
<br />of such occurrence and this Lease shall terminale on the last day of
<br />the fiscal period for which appropriations hlmI been received or
<br />made wfthout penalty or expense to Lessee, except as to (Q the
<br />portions of Lease Payments herein agreed upOllIor which funds shall
<br />have been appropriated and budgeted or are OIl1erwise available and
<br />(10 Lessee's other obligations and liabilitiEls under this Lease relating
<br />to, or accruing or arising prior to, such terminalion. In the lIVent of
<br />such termination, Lessee agrees to peaceably surrender possession
<br />of the Equipment to Lessor or tts essignee 01\ the d$le of such
<br />termination in the manner sat forth in Section 5 hereof and Lessor will
<br />have all legal and equftable rights and remedies to take poss85Sion
<br />of the Equipment Notwtthstanding the foregoing, Lessee agree. (Q
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