<br />FROM '~SSOCI~TES DETROIT
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<br />;lZJ2 TO
<br />
<br />~.
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<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
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<br />e6=02PM #408 P.07/15
<br />:; A M l' l. J::
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<br />Lea.. No,
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<br />Lessor: (Nam. .nd Addre..)
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<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
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