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R2017-21 Purchase Two Dump Trucks from Mack Sales & Services
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R2017-21 Purchase Two Dump Trucks from Mack Sales & Services
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Last modified
2/13/2018 4:29:41 PM
Creation date
2/24/2017 4:04:53 PM
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Resolution/Ordinance
Res Ord Num
R2017-21
Res Ord Title
Mack Sales & Services, Inc. for Purchase of Two Dump Trucks
Department
Public Works
Approved Date
2/21/2017
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E28 <br /> LEASE SCHEDULE A(TAX-EXEMPT) <br /> Dated as of February 2,2018 <br /> This Lease Schedule No.211637000(this "Schedule')relates to the Master Equipment Lease-Purchase <br /> Agreement referenced below and,together with the terms and conditions of the Master Lease incorporated herein <br /> by reference,constitutes a Lease. Unless otherwise defined herein,capitalized terms will have the same meaning <br /> ascribed to them in the Master Lease. All terms and conditions of the Master Lease are incorporated herein by <br /> reference. <br /> Master Equipment Lease-Purchase Agreement dated May 28,2015. <br /> 1. Equipment Description. As used in the Lease, "Equipment" means all of the property described in the <br /> Payment Schedule attached to this Schedule and all attachments, additions, accessions, parts, repairs, <br /> improvements,replacements and substitutions thereto. <br /> 2. Rent Payments;Lease Term. The Rent Payments to be paid by Lessee to Lessor,the Commencement Date <br /> of this Lease and the Lease Term of this Lease are set forth on the Payment Schedule attached to this <br /> Schedule. <br /> 3. Essential Use; Current Intent of Lessee. Lessee represents that(a)the use of the Equipment is essential to <br /> Lessee's proper, efficient and economic functioning or to the services that Lessee provides to its citizens, <br /> (b)the Equipment will be used by Lessee only for the purpose of performing its governmental or proprietary <br /> functions consistent with the permissible scope of its authority and will not be used in a trade or business of <br /> any person or entity,and(c)the useful life of the Equipment is not less than the stated full Lease Term of <br /> this Lease. Lessee has determined that a present need exists for the Equipment which need is not temporary <br /> or expected to diminish in the near future. Lessee currently intends for the full Lease Term: to use the <br /> Equipment; to continue this Lease; and to make Rent Payments so long as funds are appropriated by its <br /> governing body for the succeeding fiscal year. <br /> 4. ACCEPTANCE of EQUIPMENT. ASBETWEEN LESSEE AND LESSOR, LESSEE AGREES THAT(a)LESSEE HAS <br /> RECEIVED AND INSPECTED ALL EQUIPMENT; (b)ALL EQUIPMENT IS IN GOOD WORKING ORDER AND <br /> COMPLIES WITH ALL PURCHASE ORDERS, CONTRACTS AND SPECIFICATIONS; (c)LESSEE ACCEPTS ALL <br /> EQUIPMENT FOR PURPOSES OF THE LEASE "AS-IS, WHERE IS"; AND (d)LESSEE WAIVES ANY RIGHT TO <br /> REVOKE SUCH ACCEPTANCE. <br /> 5. Re Affirmation of the Master Lease Representations, Warranties and Covenants. Lessee hereby represents, <br /> warrants and covenants that its representations, warranties and covenants set forth in the Master Lease <br /> (particularly Sections 6.1 and 16 thereof)are true and correct as though made on the date of execution of <br /> this Schedule. <br /> 6. RESERYEED. <br />
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