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� ��� . <br /> AGREEMENT <br /> AGREEMENT made by and between the City of Decatur , <br /> Illinois , a municipal corporation { "City" ) and Martin <br /> Equipment of Illinois ( "Martin" ) . <br /> For and in consideration of the promises and <br /> obligations made and assumed hereunder , the City and Martin <br /> agree as follows: <br /> 1 . The City shall purchase from Martin one ( 1 ) 1994 <br /> John Deere model 310D diesel powered backhoe loader for the <br /> price listed on Exhibit A hereto as item #1 . Delivery shall il <br /> be within three ( 3 ) months of the date hereof , and payment I <br /> shall be made within one ( 1 ) week thereafter . <br /> 2 . At the end of either 2 , 000 operating hours or 2 <br /> years, whichever first occurs , Martin shall repurchase said <br /> backhoe loader from the City for the sum of $45 ,000 . <br /> 3 . Equipment purchased under this agreement will be <br /> operated by the City for sidewalk replacement , sewer <br /> repairs, watermain repairs , other miscellaneous excavations , <br /> minor ditching, snow removal and other purposes for which <br /> the equipment is designed. <br /> 4 . The City will assume responsibility for all <br /> repair costs resulting from damage due to fire , windstorm, <br /> flood and rising waters , lightning , theft and pilferage , <br /> vandalism and accidents . Total cost of the repairs due to <br /> the above circumstances will not be included in computing <br /> the guaranteed maximum total cost of repairs covered under <br /> the contract . <br />