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, � 93 -� 0 <br /> , , <br /> � AGREEMENT <br /> AGREEMENT made by and between the City of Decatur, Illinois , <br /> a municipal corporation ( "City" ) and Capitol Machinery Company <br /> ( "Capitol" ) . <br /> For and in consideration of the promises and obligations <br /> made and assumed hereunder,the City and Capitol agree as follows : <br /> 1. The City shall purchase from Capitol one ( 1) <br /> 1993 Caterpillar model 416B diesel powered backhoe loader for the <br /> price listed on Exhibit A hereto as item #1. Delivery shall be <br /> within three ( 3) months of the date hereof , and payment shall be <br /> made within one ( 1) week thereafter. <br /> 2. At the end of either 5 , 000 operating hours or 5 years , <br /> whichever first occurs , Capitol shall repurchase said backhoe <br /> loader from the City for the sum of $34 , 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 the <br /> equipment is designed. <br /> 4 . The City will assume responsibility for all repair <br /> costs resulting from damage due to fire , windstorm, flood and <br /> rising waters , lightning, theft and pilferage , vandalism <br /> and accidents . Total cost of the repairs due to the above <br /> circumstances will not be included in computing the guaranteed <br /> maximum total cost of repairs covered under the contract. <br /> 5 . Capitol shall pay for all repairs ( including parts and <br /> labor ) to the equipment covered by the manufacturer ' s warranty, <br /> and those costs shall not be included in the total cost of <br /> repairs . <br />