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<br /> � ° COMPUTER EQUIPME1oTT LEASE ( - �
<br /> Reference No. 563 � �� `w ' �
<br /> ' Dated: . .. .. . . ............ 197..
<br /> 1. ITEL Computer Leasing Corporation, One Embarcaclero Center, San Francisco, California
<br /> 94111 hereinafter called Lessor, hereby leases to .City._of,.Decatur,___707..East..Wood..Street,__._._,_..._
<br /> Decatur, Illinois 62523
<br /> --..__...-•----------------------•-•-----•--------•------•----------•-----.._..._...--------•----•--.._...---•--•---------------••---.....----------------......------�--•---•--------......._,
<br /> hereinafter called Lessee, and Lessee hereby hires from Lessor, the personal property hereinafter called the
<br /> Equipment, described in Schedule A, attached hereto and made a part hereof, or in any subsequent schedules
<br /> which may hereafter be made a part hereof (the "�Zachine Schedules"), all upon the terms and conditions
<br /> set forth herein. Such Equipment shall at all times be and remain the sole and eaclusive property of Lessor.
<br /> Lessee shall have no right, title or interest therein or thereto except as ea:pressl}� set forth in this Lease.
<br /> 2. Term and Rent. The term of the Lease and the rent (sometimes referred to herein as Itel Nlonthly
<br /> Availability Charge) with respect to each item of Equipment shall be as set forth for such unit in the Machine
<br /> Schedules. Term shall not extend beyond hlay 31 , 1978.
<br /> 3. Acceptance, Warranties, Limitation of Liability. Lessee represents and agrees that as of
<br /> the date of installation thereof the Equipment is of a size, design, capacity, and manufacture selected by Lessee
<br /> and ttiat as of such date Lessee has unconditionally accepted each item of Equipment.
<br /> LESSOR SHALL NOT BE LIABLE TO L�SSEE FOR ANY LIABILITY, LOSS 012 DAMAGF_
<br /> CAUSED OR ALL�GED TO BF_ CAUSED DIRECTLY OR INDIRECTLY BY THE EQUIPNIENT
<br /> BY ANY INADEQUACY THEREOF OR DEFICIENCY OR DLFECT THEREIN BY ANY INCI-
<br /> DENT ��'HATSOEVER IN CONN�CTION THEREWITH OR IN ANY �'AY RELAT�D TO OR
<br /> ARISING OUT OI+ THIS AGIZEEI2L'I�TT WHETH�R OR NOT ATTRII3UTABLE TO LESSOR'S
<br /> NEGLIGENCE. LESSOR MAKES NO �XPRESS OR IMPLI�D WARRANTIES OF ANY KIND
<br /> INCLUDING THOSE OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR USE
<br /> WITH RESPECT TO TH� EQUIPi�IENT AND EXPRESSLY DISCLAINIS THE SAME. Not�vith-
<br /> standing the foregoing, Lessee shall be entitled to the benefit of any applicable manufacturer's warranties, and
<br /> such warranties are hereby assigned by Lessor to Lessee for the benefit of Lessee.
<br /> 4. Assignn�ent to Lender; Obligation to Pay Rent Unconditional. Lessor may enter into a
<br /> security agreetnent with a lender in order to finance all or a portion of the purchase price of the �quipment.
<br /> Pursuant to any such agreement the Lessor shall grant to the lender a security interest in the F_quipment, this
<br /> Lease and in all amounts which are payable to Lessor pursuant hereto. Lessee hereby consents to the granting
<br /> of such rights to lender.
<br /> This Lease is a net lease and Lessee acknowledges and agrees that Lessee's obligation to pay all rent
<br /> payable hereunder, and the rights of Lessor and the Lender in and to such Rent, shall be absolute and uncon-
<br /> ditional and shall not be subject to any abatement, reduction, setoff, defense, counterclaims or recoupments
<br /> due or alleged to be due to, or by reason of, any past, present or future claitns �vhich Lessee may have against
<br /> Lessor, the manufacturer of the Equipment, the Lender or against any person for any reason whatsoever.
<br /> 5. Transportatroil, Installation, IVlaintenance and Repair. Lessee shall be solely responsible, at its
<br /> own expense, for the transportation, installation, maiutenance and repair of the Equipment and shall keep
<br /> the Equipment in good repair, condition and working order, and shall furnish any and all parts, mechanisms, �
<br /> � and devices required to keep the Equipment in good repair, candition and working order, at the cost and
<br /> e�:pense of I.essee. Lessor shall be entitled to inspect the Equipment at the location of Lessee during reasonable
<br /> business hours.
<br /> 6. I:epresentations and Warranties; Opinion of Counsel. Lessee represents and �varrants for the
<br /> benefit of Lessor, and, if requested by Lessor, will provide an opinion of. counsel to the effect that:
<br /> (a) Lessee is a corporation validly e�isting and in good standing, under the la�vs of the jurisdiction
<br /> of its incorporation and the jurisdiction(s) where the Equipment will be located and has adequate cor-
<br /> porate I>o�ver to enter into this Lease;
<br /> (b) this I.ease has been duly authorized, eticcuted and delivered by Lessee and constitutes a valid,
<br /> legal and bindirig agreemerit,enforceable in accordatice with its terms;
<br /> (c) the entering into ancl perioi•inance of tliis I ease �vill iiot violate any judgrnent, order, law or
<br /> reguiation applicable to Lessee, or result in any breach of, or constitute a default under, or result in
<br /> 1
<br /> Form CEL
<br /> JC:CO-3/7%74
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