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<br />FROM '~SSOCI~TES DETROIT <br /> <br />;lZJ2 TO <br /> <br />~. <br /> <br />EQUIPMENT LEASE.PURCHASE AGREEMENT <br />L.n..: (Name and Addr..,,) <br /> <br />Lessor agrees to lease to Lessee and Leaseo agroos 10 lease from <br />Lessor the Equlpmenf described In any Schedule A now or herea~er <br />attached har.to <"Equipment") In accordance with th. following lerma <br />and conditions of this Equipment Le....Purchase Agreem.nt <br />("L.ase"). <br /> <br />1, TERM, This Leese will become e~.ctlv. upon the .xecutlon h.reof <br />by L...or, The term of this Leue will comm.nc. on tho date the <br />Equipment Is acceptad pursuant to Sootlon 3 horoundor and, unless <br />earlier termlnaled .. expr.ssly provld.d for in this Leese, win continue <br />until the expiration dal. (the "Expiration Dal.") .at forth In SChedule <br />A attached hereto (the "Leu. Term"), <br /> <br />2, RENT, Lessee agrees 10 pay to Lassor or lIS assignee the Lease <br />payments, InCluding !he intereat portion, equal 10 Ihe amounls apeclfied <br />In Schedule A. The Lease Psyments will be payable wlthoul notlca or <br />demand at the office of Leasor (or such other plac. &5 Lessor or It. <br />assignee may from tlm.to 11m. d..lgnateln writing), end will commen<:e <br />.. on the flr.1 Lease Payment Dal. as set forth In Schedule A snd <br />theree~er on the .ub.equent dat.. set lorth In Schedule A, Any <br />p.yments rooolved lalor than ten (10) days from Iha due d.t. will b.ar <br />Int.r..t at the hlghesl lawful rele Irom the due date, Except as <br />specifically provldod In Section 6 hereof, Iho Obligation of Leasee 10 <br />make Ihe L'.ase paym.nlS hereunde, and perform all of Its other <br />obligations hereunder will b9 absolute and uncondltlonl!!llln an events <br />end will not ba subloct to any setoff, delense, counterclaim, or <br />r.cDupmentlor any rea.on whatsoever Including, wlthoulllmlt.tion, <br />any 1.lIur. of the Equipment to be delivered or Inslalled, any defaots, <br />mallunctlonS, breakdowns or Inllrmltlas in the Equlpmont Dr any <br />&Celdent. condemnation or unfore88on clrcumstanoes. Lessee <br />roasonably bell.ves thai funds oon be obtained eufficl.nl to make all <br />laa.e P.ymenls during the Lease Term and hereby covenanta tha' <br />II will do all things lawfully within It. powe' to obtain, maintain and <br />properly request and pursue funds from which the Lease paymen.. <br />mey b. made, Including making provisions fo, such payments to tho <br />&X{(rnll'l6Ct1lS::ii~IY In v~tih budget submitted 'or the purpose of obtalr'llng <br />lundlng, using Its bona fide besl efforts to have such portion of the <br />budgot .pproved and exhau.tlng all available administrative r.views <br />and appealS In thO evont such portion of the budgatls not approved, <br />It Is Lesseo's Inlent to maka Lease Payments for tha full Leasa Torm <br />If fund. are legally available Iherefor and In that regard Lassee <br />ropresents that the USo Of Ihe Equipment Is asasnllal to "s prope', <br />efficient and economic operallon, Leeaor and Lessee understand and <br />Intend that Ihe obllgatlcn of Lossee 10 pay Lease Payments heraunder <br />ehall conslitute a currenl exp.ns. 01 L..see and shall not In any way <br />bo construed to be a debt 01 Les.ae In conlravonllon of any applicable <br />constitullonal or slalulory IImltallon or reQulremenl concerning th. <br />creation of indebtedness by Lessee, nor ahall anything contained herein <br />constItute a pledga of the general tax revenues, funds or monl"s of <br />Lessaa, <br /> <br />3, DELlVERV AND ACCEPTANCE, Lessee, or II Lossee sa requests, <br />Les.or, will cause the Equlpmenl to be dallvered 10 lessee al the <br />location specifl.d In Schedulo A ("Equlpmenl Looatlon"), Lesiao will <br />pay all transportation and other costa, If any, incurred In conneotion <br />with the delivery end Installation of tha Equipment. Lessee will accept <br />tho Equipment as soon.. II has boon dallvered and Inspeoted. Lessee <br />will evidence its acceplanc. 01 Iho Equipment by executing and <br />delivering to Lessor a Delivery and Acceplance Certlfical. (In the form <br />provided by Lessor) upon delivery of the Equlpmont. <br /> <br />A. DISCLAIMER OF WARRANTIES, L..... aoknowledg.. and <br />ogr... th.t Iho Equipment Is of a size, d..lgn and capsclly .elected <br />by Lessae, !hat Lee.or Is nellher a manufaclurer nOr a vendor 01 .uCh <br />equipment, that LESSOR LEASES AND LESSEE TAKES THE <br />!:OUIPMENT AND eACH PART THEREOF "AS.IS" AND THAT <br />';SSOR HAS NOT MADE, AND DOES NOT HEREBV MAKE, ANV <br /> <br />,-,.';as ~.." HO EXHIBIT "A" <br /> <br />2147858519 <br /> <br />.991,11-11 <br /> <br />e6=02PM #408 P.07/15 <br />:; A M l' l. J:: <br /> <br />Lea.. No, <br /> <br />Lessor: (Nam. .nd Addre..) <br /> <br />REPRESENTATION, WARRANTY, OR COVENANT, EXPRESS OR <br />IMPLIED, WITH RESPECT TO THE MERCHANTABILITY. <br />CONDITION, QUALITY, DURABILITY, DESIGN, OPERATION, <br />FITNESS FOR use, OR SUITABILITY OF THE EQUIPMENT IN ANY <br />RESPECT WHATSOEVER OR IN CONNECTION WITH OR FOR THE <br />PURPOSES AND USES OF LESSEE. OR AS TO THE ABSENce OF <br />LATENT OR OTHER DEFECTS, WHETHER OR NOT <br />DISCOVERABLE. OR AS TO THE ABSENCE OF ANY <br />INFRINGEMENT OF ANY PATENT, TRADEMARK OR COPYRIGHT, <br />OR AS TO ANY OBLIGATION BASED ON STRICT LIABILITY IN TORT <br />OR ANY OTHER REPRESENTATION. WARRANTY. OR coveNANT <br />OF ANV KIND OR CHARACTER, EXPRESS OR IMPLIED, WITH <br />RESPECT THERETO, IT BEING AGREED THAT ALL RISKS <br />INCIDENT THERETO ARE TO eE BORNE BY LESSEE AND LESSOR <br />SHALL NOT BE OBLIGATED OR LIABLE FOR ACTUAL, INCIDENTAL, <br />CONSEOUENTIAL, OR OTHER DAMAGES OF OR TO LESSEE OR <br />ANV OTHER PERSON OR ENTITY ARISING OUT OF OR IN <br />CONNECTION WITH THE USE OR PERFORMANCE OF THE <br />EQUIPMENT AND THE MAINTENANCE THEREOF. L...or h.r.by <br />asslgne to L..... during the Le..... T.rm, 8olang88 no Event of Default <br />h.. occurred hereunder and la conllnulng, all manufacturer's <br />warranlles. If any, ..preased or implied with respect 10 the Equipment. <br />and Lessor euthorlzes Lessee to obtain the oustomary servloes <br />turniahed In conneCllon with auch warranllee at Leasee'a e.panse, <br />Lessee's sole remedy for 1M breach of any such manufecturer's <br />warranty shall be againsllhe manufacturer of the EqUipment. and not <br />agalnsl Lassor, LeSSee expressly acknowledges that Lessor makos, <br />and has mad., nO repre.entallons or warrantlas wha150evtr ae to the <br />axletenca or ths evailablllty of such warrsntles of !he manulactUrer of <br />tho Equipment. <br /> <br />5, RETURN OF EQUIPMENT. Unless Lossee ehall h.ve e..rclsed <br />Its purohllSe opllon as provided In Section 20 hereof. upon tho expiration <br />or earlier termlnstion of this LellSe pursuant to the terms hereof, Lessee <br />shell, at Its sole a"pansa but at L..sor's opllon, 'etu'n tha [;~ull',"ant <br />to Lessor to any location In the continental Unltod States designated <br />by Lossor, <br />6. NON.APPROPRIATION OF FUNDS; NON.SUaSTITU. <br />TION, Notwithstanding anything contained In this Lease 10 the oontrary, <br />In tho event no funds or Insufficient funde lie appropriated and <br />budgeled Or ere otherwise unavalleble by any means whatsoever In <br />any fiscal period for lease Payments due und.r thl. Lease, Lessee <br />will Immedlatoly notify Leesor or Ite e98lgneo In w'ltlng of auch <br />occurrence ena Ihls Laue ahall termlnalo on the lut day 01 tho flacal <br />period lor which appropriations have been roeelvad or msde wlthoul <br />penalty or expense 10 Lessee, except as 10 (i) the portions of Leue <br />Payments herein agrged upon fDr which funds shan have begn <br />approprlatod and budgoled or are otharwi... avallabl. and <"l Le....'. <br />other obllgatlona and liabilities undar this Lea.. relating to, Or accruing <br />or arising prior 10, such tarmlnalion, In the avanl of auch termination, <br />Lessee agrees to peaceably surrender polSIs.lon of the Equipment <br />to Lassor or Its assignee on the date of such termlnalion In tha manner <br />aal forth In Section 6 h.raol and Lessor will hav. .lIlogal and equitabl. <br />rights and remedies to lake possasslon 01 Iha E'qulpmenl. <br />NOtwithstanding Ihe for.going, Leaeee agrees (I) that It will not cancel <br />Ihls La..o and Ihls Leas. shall not lermlnate under the provisions at <br />this Section II any lunds ara oppl'Qprlaled to II, 'or by /1, for !he acquisition, <br />relentlon or operetion of the Equipment or other equipment or services <br />p.rformlng I~nction. .Imllar 10 Ihe f~nctlone oltha ,"Qulpmanl fnr the <br />!lscal period in which such lermlnelion wo~ld have otherwlsa occurred <br />or for th. no.t suoo..dlng fI.cal period. and (II) !hat It WIll not during <br />Ih. Lease T.rm give priority in tha application of lunds to any olhor <br />functionally similar equipment or to service. performing functions similar <br />to tho lunctlons of Ihe Equipment, This .ectlon will nOI be conatrued <br />so os 10 permll Lessee to termlnata this Lease In ordor to purch..., <br />i08.e, rent or Olhorwlse acquire the u.. of any othar aqulpment or <br />