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zlk MUNICIPAL LEASE AND OPTION AGREEMENT LESSOR:: CAPPS RENT A CAR, INCORPORATED 8555 JOHN CARPENTER FREEEWAY DALLAS, TEXAS 75247 LESSEE: CITY CF PARIS, TEXAS P.O. BOX 9037 PARIS, TEXA:, THIS LEASE AGREEMENT IS ENTERED INTO BETWEEN CAPPS RENT A CAR INCORPORATED (LESSOR) AND CITY OF PARIS, TEXAS (LESSEE). A BODY CORPORATE AND POLITIC DULY ORGANIZED AND EXISTING UNDER THE LAWS OF THE STATE OF TEXAS. Michael E. Malone IS AUTHORIZED UNDER THE CONSTITUTIION AND LAWS OF THE STATE OF TEXAS TO ENTER INTO THIS AGREEMENT FOR THE PURPOSES DESCRIBED AND BOTH PARTIES AGREE AS . FOLLOWS: LESSEE DESIRES TO LEASE FROM LESSOR, THE VEHICLE OR VEHICLES IN ACCORDANCE WITH THIS AGREEMENT AND TO HOLD THE VEHICLE OR VEHICLES FOR THE TERM OF THE LEASE. 2. THIS AGREEMENT SHALL BE IN EFFECT THROUGHOUT THE ENTIRE LEASE TERM. THE LEASE TERM SHALL BE A PERIOD OF AT LEAST SIX MONTHS NOT TO EXCEED EIGHT MONTHS, UNLESS OTHERWISE MUTUALLY AGREED UPON BY BOTH LESSOR AND LESSEE. 2a. LESSOR AGREES TO PROVIDE LESSEE DURING THE LEASE TERM WITH QUIET USE AND ENJOYMENT OF THE EQUIPMENT. LESSEE WILL NOT USE, OPERATE OR MAINTAIN THE VEHICLE(S) IMPROPERLY, CARELESSLY, IN VIOLATION OF ANY APPLICABLE LAW OR IN ANY MANNER CONTRARY TO THAT CONTEMPLATED BY THIS AGREEMENT. 3. LESSOR MAKES NO WARRANTY NOR REPRESENTATION, EITHER EXPRESSED OR IMPLIED, AS TO THE VALUE, DESIGN, CONDITION, MERCHANTABILITY OR FITNESS FOR PARTILCULAR PURPOSE OR FITNESS FOR USE OF THE EQUIPMENT, OR ANY OTHER WARRANTY WITH RESPECT THERETO AND, AS TO THE LESSOR, THE LESSEE LEASES THE EQUIPMENT'AS IS'. IN NO EVENT SHALL THE LESSOR BE LIABLE FOR ANY LOSS OR DAMAGE, INCLUDING INCIDENTAL, INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGE, IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR THE EXISTENCE, FURNISHING, FUNCTIONING OR THE LESSEE'S USE OF ANY ITEMS OR PRODUCTS OR SERVICES PROVIDED FOR IN THIS AGREEMENT. 3b. LESSEE IS ENTITLED TO ANY WARRANTIES THAT LESSOR MAY HAVE AGAINST ANY VENDOR OF ANY PORTION OF THE LEASED EQUIPMENT. 3c. LESSEE IS RESPONSIBLE FOR ALL ROUTINE MAINTENANCE, SUCH AS, OIL AND FILTER CHANGES (AT INTERVALS NOT TO EXCEED 5,000 MILES BETWEEN CHANGES), TIRE REPAIR OR REPLACEMENT AND ANY MINOR REPAIRS. IN THE EVENT OF A TIRE REPLACEMENT, LESSOR AGREES TO REPLACE THE TIRE WITH AN IDENTICAL LIKE BRAND AS WAS ORIGIONALLY PROVIDED. LESSEE AGREES TO PAY AN ADDITIONAL PREMIUM IN THE EVENT THAT OIL CHANGES ARE NOT PERFORMED. MINOR REPAIRS IS DEFINED AS THOSE REPAIRS COSTING $50.00 OR LESS AND NOT COVERED BY FACTORY WARRANTY. ANY REPAIR THAT WOULD BE LESSORS' RESPONSIBILITY IS TO BE APPROVED BY LESSOR PRIOR TO REPAIRS BEING PERFORMED. 3d. ANY REPAIRS OR MAINTENANCE IN EXCESS OF $50.00 AND NOT COVERED BY MANUFACTURER'S WARRANTY AND DEEMED TO BE THE RESPONSIBILITY OF THE LESSOR, SHALL NOT BE PERFORMED WITHOUT PRIOR APPROVAL OF LESSOR. NORMAL WEAR AND TEAR IS ACCEPTABLE. ABNORMAL WEAR AND TEAR OR SUBSTANDARD BODY REPAIRS ARE NOT ACCEPTABLE AND WILL BE CHARGED BACK TO LESSEE. DAMAGED WINDSHIELDS MUST BE REPLACED (REPAIRED OR -PLUGGED- WINDSHIELDS WILL NOT BE ACCEPTED) AT LESSEE'S EXPENSE. RE- PLACED WINDSHIELDS ARE TO BE 'PPG* OR'LOF' GLASS. LABOR TO REPAIR HOLES THAT HAVE BEEN DRILLED IN VEHICLES BY LESSEE WILL BE CHARGED BACK TO LESSEE AT AUTHORIZED NEW CAR DEALERSHIP RATES. 4. THE OBLIGATION OF THE LESSEE TO PAY RENTAL PAYMENTS HEREUNDER IS A CURRENT EXPENSE OF LESSEE AND NOT A DEBT OF LESSEE IN CONTRAVENTION OF ANY APPLICABLE LIMITATIONS OR REQUIREMENTS, NOR SHALL ANYTHING CONTAINED HERIN CONSTITUTE A PLEDGE OF THE GENERAL TAX REVENUES, FUNDS OR MONIES OF LESSEE. 4a. THE OBLIGATIONS OF LESSEE TO MAKE RENTAL PAYMENTS, AND TO PERFORM AND OBSERVE THE COVENANTS AND AGREEMENTS CONTAINED HERIN, SHALL BE ABSOLUTE AND UNCONDITIONAL IN ALL EVENTS, EXCEPT AS EXPRESSLY PROVIDED UNDER THIS AGREEMENT, NOTWITHSTANDING ANY DISPUTE BETWEEN LESSEE AND LESSOR, ANY VENDOR OR ANY OTHER PERSON, LESSEE SHALL NOT ASSERT ANY RIGHT OF SET-OFF OR COUNTERCLAIM AGAINST ITS OBLIGATION TO MAKE PAYMENTS UNDER THIS AGREEMENT. 4b. 'LESSEE AGREES TO DO ALL THINGS LAWFULLY WITHIN ITS POWER TO OBTAIN AND MAINTAIN FUNDS FROM WHICH THE RENTAL PAYMENTS MAY BE MADE. EXHIBIT N