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<br />LEASE/PURCHASE AGREEMENT <br /> <br />TYMCO EQUIPMENT LEASING COMPANY <br />TAX-EXEMPT FINANCE DIVISION <br /> <br />Customer No. <br />Agreement II <br />Dea ler II <br /> <br />962000 <br />911114 <br />590003 <br /> <br />LESSEE <br /> <br />LESSOR <br /> <br />City of Paris <br />135 1st Street S.E. <br />Paris, TX 75461 <br />903-785-7511 <br /> <br />TYMCO, Inc. <br />225 E. Industrial Blvd. <br />P. O. Box 2368 <br />Waco, TX 76703-2368 <br />817-799-5546 <br /> <br />DESCRIPTION OF EQUIPMENT <br /> <br />QUANTITY (TYPE, MODEL AND SERIAL NUMBER) <br /> <br />UNIT PRICE <br /> <br />AMOUNT <br /> <br />1 TYMCO Model 600 REGENERATIVE <br />AIR STREET SWEEPER <br />Sweeper Serial No. <br />Truck Serial No. <br />fa les Price <br /> <br />Price <br /> <br />$ 71,776.25 <br /> <br />TYPE OF SUB-DIVISION (CITY, SCHOOL DISTRICT, ETC.): <br /> <br />City <br /> <br />60 MONTHS <br /> <br />MONTHLY <br />FULL LEASE TERM RENT PAYABLE RENTAL PAYMENT AMOUNT RENTAL PAYMENT SCHEDULE <br /> <br />xx.. ADVANCE RENTAL ADVANCE PAYMENTS REMAINING PYMTS <br />ARREARS PAYMENT NUMBER 1 NUMBER <br />XX MONTHLY RENTAL TAX $ .00 1 @ $1,427.68-$1,427.68 59 @ $1,427.68 <br />QUARTERLY TOTAL <br />-- SEMI-ANNUALLY PAYMENT$ 0 <br />ANNUALLY <br /> <br />AFTER <br />COMMENCEMENT <br />DATE <br /> <br />EQUIPMENT LEASE/PURCHASE AGREEMENT <br /> <br />In consideration of the mutual covenants hereinafter contained, the parties agree that <br />Lessee shall lease from Lessor the property described above (the "Equipment"), subject to <br />the terms and conditions set forth herein. The agreement is made upon the following terms <br />and conditions: <br /> <br />1. RENTAL. Lessor and Lessee understand and intend that the obligation of Lessee to pay <br />rent hereunder shall constitute a current expense of Lessee and shall not in any way be <br />construed to be a debt of Lessee in contravention of any a pplicable constitutional or <br />statutory limitations or requirements concerning the creation of indebtedness by Lessee, <br />nor shall anything contained herein constitute a pledge of the general tax revenues, funds <br />or monies of Lessee. Lessee shall pl y rent exclusively from legally available funds, in <br />the a mounts set forth both above and on the rent due dates set forth in the Schedule of <br />Pa yments attached to the Certificate of Acceptance executed by Lessee, by mailing the !Il me <br />to Lessor a t the address specified in Section 14(a). For purposes of making computations <br />under appli~ble regulations and rulings under federal income tax law. and aa aPT fnrrh in <br />