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AGREEMENT <br /> AGREEMENT made by and between the City of Decatur, Illinois, a municipal <br /> corporation("City") and Martin Equipment of Illinois, Inc. ("Martin"). <br /> For and in consideration of the promises and obligations made and assumed hereunder, <br /> the City and Martin agree as follows: <br /> 1. The City shall purchase from Martin two (2) 2009 John Deere 310SJ diesel <br /> powered extendahoe 4 x 4 backhoes for the price listed on Exhibit A hereto as item #1. Delivery <br /> shall be within sixty (60) days of the date hereof, and payment shall be made within one (1) <br /> week thereafter. <br /> 2. At the end of either 3,250 operating hours or 5 years, whichever first occurs, <br /> Martin shall repurchase said backhoes from the City for the sum of$70,000 if the City so elects <br /> and at the City's sole discretion. <br /> 3. Equipment purchased under this agreement will be operated by the City for <br /> sidewalk replacement, sewer repairs, watermain repairs, other miscellaneous excavations, minor <br /> ditching, snow removal and for other purposes which the equipment is designed. <br /> 4. The City will assume responsibility for all repair costs resulting from damage due <br /> to fire, windstorm, flood and rising waters, lightning, theft and pilferage, vandalism and <br /> accidents. Total cost of the repairs due to the above circumstances will not be included in <br /> computing the guaranteed maximum total cost of repairs covered under the contract. <br /> 5. Martin shall pay for all repairs (including parts and labor) to the equipment <br /> covered by the manufacturer's warranty, and those costs shall not be included in the total cost of <br /> repairs. <br />