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52
<br />Print6d !n U.S.A.
<br />AGREEMENT by and botweon
<br />located at
<br />AGREEMENT
<br />City of
<br />F(P , `o. 3928 Rov. 4
<br />Stato/Provinco of , Its successors, assigns, and /or nominees (hereinafter called "LESSOR'')
<br />and the undersigned Munlcipalily (hereinafter called the 'LESSEE= ").
<br />1. DESCRIPTION OF EOUIPMENT.
<br />LESSOR has purchased Ilia equipment described below (hereinafter referred to as "Equipment ") from the manufacturer and simultaneously
<br />LESSEE hereby leases the Equipment from the LESSOR subject to the forms and conditions set forth below:
<br />2. TERM OF AGREEMENT.
<br />The term of this Agreement shall be months, beginning on , 19 , and ending on
<br />19
<br />3. PAYMENT.
<br />a_ LESSEE agrees to pay to LESSOR a total of, payments of $ consisting of a principal amount of
<br />$ plus Interest applied to the principal at lho rate of _ % per annum which results
<br />in a finance charge of S according to the following schedule:
<br />1, An advance payment in the sum of S to be applied to the first rental period.
<br />2. The balance of the total of payments to be payable in payments of $ each duo at the
<br />beginning of each month portion beginning the day of , 19 .
<br />b. LESSEE hereby agrees to pay interest on each payment past duo more than ton (10) days M the highest contract rate allowed by law,
<br />4. MUNICIPALITY'S OPTION TO PURCHASE.
<br />LESSOR hereby grants to LESSEE. (municipality) the option to purchase tho Cquipment, providod that LESSEE gives notice to LESSOR, In
<br />writing of his intention to exerciso the option at lease dayYs prior to the expiration of this Agreement, and provided further that
<br />LESSEE'S right to so purchase the Equipment is conditlonod on LESSEE's complete performance of all the terms and provisions of this
<br />Agreement on Its part to be performed, including full compliance with lho payment as specified herein.
<br />a. Should LESSEE exorcise the option to purchase, % of the portion of oach payment applied to principal paid hereundbr shall be
<br />applied to the purchase price of the Equipment. On receipt of the balance of the purchase price by LESSOR, together with a-sum equal to
<br />any new or applicable unpaid sales and use taxes, LESSOR will transfer title of the Equipment to LESSEE, and will deliver, on written
<br />request, written evidence of the transfer of such title.
<br />b. The Purchase Price of the Equipment applicable to this option to purchase is the sum of
<br />5. LOCATION OF EQUIPMENT.
<br />a. The Equipment shall be located at during the entire term of this Agreernont.
<br />LESSEE shall not, without the prior written consent of LESSOR, permit the Equipment to be removed from this location,
<br />b, Al the request of LESSOR, LESSEE will join LESSOR In executing one or more Financing Statements, pursuant to the Uniform —
<br />Commercial Code or other registration law applicable to the location of the Equipment and /or the LESSEE, in form satisfactory to
<br />LESSOR; LESSEE- will pay the cost of filing the Financing Slatornent(s) in all public offices wherever filing is doomed by LESSOR to be
<br />necessary or desirable.
<br />6. WARRANTY.
<br />LESSOR makes no representations or warranties with respect to the Equipment set forth herein. Any warranties Provided by LESSOR on the
<br />Equipment set forth heroin shall be given to LESSEE under separate agreement provided by the manufacturer of the Equipment, the receipt
<br />whereof Is hereby acknowledged by LESSEE.
<br />7, MUNICIPALITY RESPONSIBILITIES.
<br />a, LESSEE assurnes and will pay all costs and expenses of any character, arising from lho use, possossion, or maintenance of said
<br />Equipment.
<br />b. LESSEE shall keep the Equipment free of all lions, taxes, oncumb(ances and selzure or levy; shall not use same Illegally, shall not dantago,
<br />abuse, misuse, abandon or lost) said Equipment; shall not part with possession thowof, whether voluntarily or invovntarily or transfer any
<br />Interest therein.
<br />c, LESSEE at its own cost and expense shall maintain property damago insurance against "all-risk of physical darnago" in such amounts as
<br />LESSOR may reasonably require. Such insurance shall be in a form and with companies as LESSOR shall approve, which approval shall
<br />not be unreasonably withhold, shall name LESSOR as an additional Insured and shall provide that such insurance may not be cancelled or
<br />altered as to LESSOR without at least ton (10) days prior written notice to LESSOR. LESSEE_- shall delivery to LESSOR on or before the date
<br />on which the Equipment Is delivered evidence satisfactory to LESSOR os such insurance.
<br />d. Upon execution of this Agreement, LESSFE shall provide LESSOR with an OPINION OF COUNSEL substantially In ilia form annexed
<br />hereto as Exhibit A.
<br />8, LESSOR RIGHT OF INSPECTION.
<br />LESSOR shall have the right at any time to enter tiro promises occupied by the Equipment and shall be given free access thereto and afforded
<br />necessary facilities for the purpose of inspection.
<br />9. NON- APPROPRIATION.
<br />If funds are not allotted by the LESSEE for the next fiscal period sufficient to continue making the payments set lorth in Section "3" horoof,
<br />LESSEE may terminate this Agreement upon the expiration of the then current fiscal year. LESSEE agrees to provide LESSOR immediate
<br />notice of Its intention to terminate.
<br />10, NON•SUEISTiTUTION.
<br />The Lessee agrees that in the event the Lessee exercises Its right to lorminato this lease In accordance with the non - appropriation provisions
<br />contained herein, the LoSseo will not purchase, lease, or rent other oqui monl for the purposo of performing the functions and projects which
<br />were to be performed by ilia Ioased equipment for a period of ninety (00) days from the date of termination of this Lease.
<br />11. EXPIRATION OF AGREEMENT. —
<br />a. Al the expiration of the term of this Agreement as set forth in Section "2 ", and if LESSEE has elected not to exercise an option to purchase
<br />described In Section "4 ", LESSEE Shall be responsible for the delivery of the Equipment to a place designated by LESSOR.
<br />b. Al its option, LESSOR may enter the premises of LESSEE for the purpose of offecGn the removal of the Equipment to the location
<br />designated by LFStiOR. It LESSOR oxercises this option, LESSEE shall be responsible for the costs associated with the removal of the
<br />Equipment to ilia location designated by LESSOR. FXI--I I R IT A,
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