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. , . � p� y a - � s_ <br /> F <br /> AGREEMENT <br /> AGREEMENT made by and between the City of Decatur, Illinois , <br /> a municipal corporation ( "City" ) and Martin Equipment Company of <br /> Illinois , Inc. ( "Martin" ) . <br /> For and in consideration of the promises and obligations <br /> made and assumed hereunder, the City and Martin agree as follows : <br /> 1 . The City shall purchase from Martin one ( 1 ) <br /> 1992 John Deere model 310D diesel powered backhoe loader for the <br /> price J_isted on Fxhibit A hereto as item #1 . Delivery shall be <br /> within two ( 2 ) months of the date hereof, and payment shall be <br /> made within one ( 1 ) week thereafter. <br /> 2 . At the end of either 2 ,000 operating hours or 2 years , <br /> whichever first occurs , Martin shall repurchase said backhoe <br /> loader from the City for the sum of $28 , 750 . <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 . Martin 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 />