1991-025-RES WHEREAS, the City Council of the City of Paris, did at its special meeting on September 24, 1990,
RESOLUTION NO.
91-025
WHEREAS, the City Council of the City of Paris, did at
its special meeting on September 24, 1990, approve the
purchase of a four wheel dr i ve wheel loader and thereafter
did advertise for bids for furnishing said wheel loader,
which bids were received until 3:00 O'clock P.M., Tuesday,
October 23, 1990; and,
WHEREAS, the best bid for such purchase was made by Darr
Equipment Co., P. O. Box 540788, Dallas, Texas 75354-0788,
and it should be awarded the bid for providing such grader;
and,
WHEREAS, the Security Agreement for
Caterpillar 916 Wheel Loader 9C3604, is
Exhibit A, and such Agreement should
THEREFORE,
the purchase of one
attached hereto as
be approved; NOW,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS,
that the Bid of Darr Equipment Co. for the purchase of one
new Caterpillar 916 Wheel Loader 9C3604, is hereby accepted
and let; and,
BE IT FURTHER RESOLVED, That the City Manager of the
City of Paris, Michael E. Malone, be, and he is hereby
authorized and directed to execute on behalf of the City of
Paris the Security Agreement, upon the terms and conditions
shown in Exhibit A attached hereto, with Darr Equipment Co.
Passed and adopted this 25th day of February, 1991.
(.,~~ ~-
Eric S. C i ord, Mayor
ATTEST:
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Mattie Cunningham, City lerk
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T. K. Haynes, City Attorney
'-
N709>!' SH:I!'!f,
NOTE & SECURITY AGREEMENT
(EQUIPMENT)
City of l'nris
Debtor's Name
Paris
P.O. llox $037
City
J...ar.1i1r
County
Street Address
Texas 75461
State Zip Code
(hereinafter called in accordance with the terms and provisions of the Uniform Commercial Code - DEBTOR), having been quoted both a
time price of.S 64, 7:i a. on and a cash price of S .5 7) a 17 . 00 and having elected to purchase the equirment deSCribed
below on a time price basis, agrees to pay Darr Equipment Co. (herdnafter called in accordance with the terms and provisions of the Uniform
Commercial Code - Secured Party) whose address is Highway 183 and Loop 12, Irving, Dallas County. Texas.
.. ' . ' . (473S.00.. .0-
(MaIling address: P.O. Box 540788, Dallas, Texas 75354,0788) the time pnce of $__ ' as follows: L _,_
d $ .0.
which was paid with order, receipt of which is hereby acknowledge by Secured Party, on delivery and Ihe
remainder (Time Balance) of S (14,7:;[1. DO in 36 consecutive installments, the first installment due
2-14-91
and subsequent installments due the same date
monthly
(monthly, unless otherwise
specified) thereafter. Each installment shall be in the amount of S
l,7!1!l.on
except the final installment
which shall be $
l,n.i.oC
, payments to be made in lawful money of the United States at Secured Pany's
office in Dallas County, Texas. Pasldue installments shall bear interest at t~e highest legal contract rate ofinteresi pennissible in the Slale of
.T exas.
EQUIPMENT:
One (1) New r.:?t~rpi 118.T 916 111'ee1 Loader, ~/tI ?XIl01838
REPUPCH,A,SE AGREEMENT:
1 YEAR OR 1200 HOURS
:I YEARS OR 2400 HOUnS
3 YEARS OR 3600 HOURS
4 YEARS OR 4800 HOURS
5 YEARS OR 6000 HOURS
$49,123.00
$47,3\}9.00
$45,090.00
$38, 7G1. 00
$34,472 .00
~
l
For value received, Debtor hereby grants to Secured Party a security interest in the above described equipment of Debtor
(said equipment being hereinafter referred to as Collateral), together with all attachments, accessories, additions and appurtenances
thereto. 6-'l 733. CO
The security interest hereby granted secures the payment of the Time Balance of $' owed
by Debtor to Secured Party on the purchase price of the Collateral.
DEBTOR represents and warrants as follows:
Collateral is to be tlsed for: 0 farming operation; or Gl business other than farming operations. ,
Collateral is 0 now owned by DEBTOR or Gis being acquired by DEBTOR from SECURED PARTY or i, heing acquired with
the proceeds of the advance evidenced, by this agreement. .
DEBTOR and SECURED PARTY as used in this Note & Security Agreement includes the heirs, executors and administrators,
successors and assigns of those parties.
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