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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, the <br /> City and Martin agree as follows: <br /> 1. The City shall purchase from Martin one (1) 1996 John Deere model 310D diesel <br /> powered backhoe for the price listed on E�ibit A hereto as item #1. Delivery shall be within <br /> three (3) months of the date hereof, and payment shall be made within one (1) week thereafter. <br /> 2. At the end of either 5,000 operating hours or 5 years, whichever first occurs, <br /> Martin shall repurchase said backhoe from the City for the sum of$27,500. <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 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 accidents. <br /> Total cost of the repairs due to the above circumstances will not be included in computing the <br /> 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 />