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<br />N709>!' SH:I!'!f, <br /> <br />NOTE & SECURITY AGREEMENT <br />(EQUIPMENT) <br /> <br />City of l'nris <br />Debtor's Name <br />Paris <br /> <br />P.O. llox $037 <br /> <br />City <br /> <br />J...ar.1i1r <br />County <br /> <br />Street Address <br />Texas 75461 <br /> <br />State Zip Code <br /> <br />(hereinafter called in accordance with the terms and provisions of the Uniform Commercial Code - DEBTOR), having been quoted both a <br /> <br />time price of.S 64, 7:i a. on and a cash price of S .5 7) a 17 . 00 and having elected to purchase the equirment deSCribed <br />below on a time price basis, agrees to pay Darr Equipment Co. (herdnafter 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 />.. ' . ' . (473S.00.. .0- <br />(MaIling address: P.O. Box 540788, Dallas, Texas 75354,0788) the time pnce of $__ ' as follows: L _,_ <br />d $ .0. <br />which was paid with order, receipt of which is hereby acknowledge by Secured Party, on delivery and Ihe <br /> <br />remainder (Time Balance) of S (14,7:;[1. DO in 36 consecutive installments, the first installment due <br /> <br />2-14-91 <br /> <br />and subsequent installments due the same date <br /> <br />monthly <br /> <br />(monthly, unless otherwise <br /> <br />specified) thereafter. Each installment shall be in the amount of S <br /> <br />l,7!1!l.on <br /> <br />except the final installment <br /> <br />which shall be $ <br /> <br />l,n.i.oC <br /> <br />, payments to be made in lawful money of the United States at Secured Pany's <br /> <br />office in Dallas County, Texas. Pasldue installments shall bear interest at t~e highest legal contract rate ofinteresi pennissible in the Slale of <br /> <br />.T exas. <br /> <br />EQUIPMENT: <br /> <br />One (1) New r.:?t~rpi 118.T 916 111'ee1 Loader, ~/tI ?XIl01838 <br /> <br />REPUPCH,A,SE AGREEMENT: <br />1 YEAR OR 1200 HOURS <br />:I YEARS OR 2400 HOUnS <br />3 YEARS OR 3600 HOURS <br />4 YEARS OR 4800 HOURS <br />5 YEARS OR 6000 HOURS <br /> <br />$49,123.00 <br />$47,3\}9.00 <br />$45,090.00 <br />$38, 7G1. 00 <br />$34,472 .00 <br /> <br />~ <br />l <br /> <br />For value received, Debtor hereby grants to Secured Party a security interest in the above described equipment of Debtor <br />(said equipment being hereinafter referred to as Collateral), together with all attachments, accessories, additions and appurtenances <br />thereto. 6-'l 733. CO <br />The security interest hereby granted secures the payment of the Time Balance of $' owed <br />by Debtor to Secured Party on the purchase price of the Collateral. <br /> <br />DEBTOR represents and warrants as follows: <br /> <br />Collateral is to be tlsed for: 0 farming operation; or Gl business other than farming operations. , <br />Collateral is 0 now owned by DEBTOR or Gis being acquired by DEBTOR from SECURED PARTY or i, heing acquired with <br />the proceeds of the advance evidenced, by this agreement. . <br /> <br />DEBTOR and SECURED PARTY as used in this Note & Security Agreement includes the heirs, executors and administrators, <br />successors and assigns of those parties. <br /> <br />! <br />, <br />t1i <br />~ <br />