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<br />... <br /> <br />4 <br /> <br />Customer No. 962000 <br />Agreement No. 980729 <br />Dealer No. 590001 <br /> <br />Lessee P.O.#1348 <br /> <br />LEASE/PURCHASE AGREEMENT <br /> <br />TYMCO EQUIPMENT LEASING COMPANY <br />TAX-EXEMPT FINANCE DIVISION <br /> <br />LESSEE <br /> <br />LESSOR <br /> <br />City of Paris <br />50 W. Hickory <br />P.O. 1037 <br />Paris, TX 75460 <br />903-785- 7511 <br /> <br />" <br /> <br />TYMCO, Inc, <br />225 E. Industrial mvd. <br />P. O. I30x 2368 <br />Waco, TX 76703-2368 <br />254- 799-5546 <br /> <br />I' <br /> <br />DESCRIPTION OF EQUIPMENT <br /> <br />Quantity (Type, Model and Serial Number) <br /> <br />Unit Price <br /> <br />Amount <br /> <br />TYMCO Model 600I3AH Regenerative Air Street Sweeper <br />Sweeper Serial No. 9807SNM67144I3AH <br />Tmck Serial No. IGDM7ClJ6WJ504184 <br />Finance Amount <br /> <br />$ 103,310.30 <br /> <br />ill <br /> <br />$ 103,310.30 <br /> <br />Type of Entity (County, City, School District, etc.): City <br /> <br />Full <br />Lease Term <br />5 Years <br />after <br />commencement <br />date. <br /> <br />Rent Payable <br />X Advance <br />Arrears <br />X Monthly <br />o Quarterly <br />o Semi-Annually <br />o Annually <br /> <br />Monthly Rental <br />Payment Amount <br />Rental <br />Payment $ <br />Rental Tax $0 @ $ = $ <br />Total <br />Payment $ <br /> <br />Rental <br />Payment Schedule <br />Advance Payments Remaining Payments <br />1 59 <br />@ $1,971.23 @ $1,971.23 <br /> <br />.' <br />~ : <br /> <br />.. <br />EQUIPMENT LEASE/I)URCIIASE AGREEMENT <br /> <br />In consideration of the mutual covenants hereinafter contained, the parties agree that Lessee shall lease from the Lessor the property <br />described above (the "Equipment"), subject to the terms and conditions set forth herein. The agreement is made upon the following <br />terms and conditions: <br /> <br />1. RENTAL. Lessor and Lessee understand and intend that the obligation of Lessee to pay rent hereunder shall <br />constitute a current expense of Lessee and shall not in any way be construed to be a debt of Lessee in contravention of <br />any applicable constitutional or 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 or monies of Lessee. Lessee <br />shall pay rent exclusively from legally available funds, in the amounts set forth both above and on the rent due dates set <br />forth in the Schedule of Payments (Exhibit C) attached to the Certificate of Acceptance (Exhibit D), executed by Lessee, <br />by mailing the same to Lessor at the address specified in Section 14(a). For purposes of making computations under <br />applicable regulations and rulings under federal income tax law, and as set forth in the Schedule of Payments, a portion of <br />each rent payment is paid as, and represents payment of, interest, and the balance of each rent payment is paid as, and <br />represents payment of, prineipal. Each year's rental payment is for the consideration actually furnished that year and each <br />rental payment is supported by the use of the equipment in each year. The obligation of Lessee to make payment of rent, <br />and to perform and observe the agreements contained in the Agreement, shall be absolute and unconditional in all events, <br />except as expressly provided herein. Notwithstanding any dispute bctwecn Lessee, Lessor, and any other person, Lessee <br /> <br />II <br /> <br />~ <br /> <br />~ <br />" <br /> <br />EXHIBIT A <br /> <br />1 <br />