My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
6C(2)
sbend
>
Public
>
Redevelopment Commission
>
Agendas & Packets
>
2014
>
08-28-14 Redevelopment Commisssion Meeting
>
6C(2)
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
8/25/2014 10:55:52 AM
Creation date
8/25/2014 10:55:47 AM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
21
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
AGREEMENT <br /> NOW THEREFORE, in consideration of the foregoing, the mutual covenants and <br /> agreements set forth in this Lease and other good and valuable consideration, the receipt and <br /> sufficiency of which are hereby acknowledged, Lessor and Lessee agree as follows: <br /> 1. Lease of Equipment. Subject to the terms and conditions of this Lease, Lessor agrees to <br /> lease to Lessee, and Lessee agrees to lease from Lessor,the equipment as described on the attached <br /> Exhibit A (collectively, the "Equipment"). As used in this Lease, the term "Equipment" refers to <br /> all items and/or units of Equipment collectively and to each item or unit of Equipment <br /> individually, as the context requires, and includes any and all Additions (as defined below) and <br /> any amendments, modifications and additions to Exhibit A to which the parties may agree from <br /> time to time. <br /> 2. Term. The term of this Lease (the "Term") shall commence on the date on which the <br /> Equipment is delivered to Lessee, no later than December 31, 2018 (the "Commencement Date"). <br /> The Term shall end on the date that is ten (10) years after the Commencement Date, unless the <br /> Lessee exercises the purchase option pursuant to Section 9(c)hereof,in which case the Lease shall <br /> terminate upon Lessee's payment of the Option Purchase Price as detailed in Section 9(c) of this <br /> Lease. <br /> 3. Inspection and Acceptance. Lessee shall have a period of seven (7) calendar days from <br /> the date of delivery of the Equipment (the "Inspection Period") to (i) inspect the Equipment to <br /> ensure it is in good condition and repair and (ii)notify Lessor, in writing,that the Equipment is not <br /> in good condition and repair, in which case Lessor shall have a period of twenty-one (21) days <br /> from the date of such notice to cure the same or otherwise provide (or cause the manufacturer to <br /> provide) Lessee with Equipment that is in good condition and repair. If Lessee does not notify <br /> Lessor in writing during the Inspection Period that any of the Equipment is not in good condition <br /> and repair, then Lessee shall be deemed to have inspected, be satisfied with and accepted the <br /> Equipment in such good condition and repair. <br /> 4. Rental Payments and Other Lease Charges. <br /> (a) Rental Payments. Lessee agrees to pay to Lessor, during the Term, as rent for the <br /> Equipment, the total sum of Two Million Seven Hundred Fifty Thousand Dollars ($2,750,000), <br /> payable as set forth herein (the "Rental Payment"). The Rental Payment and any other amounts <br /> due under this Lease by Lessee to Lessor shall be paid without relief from valuation and <br /> appraisement laws. Total rent for the Term shall not exceed Two Million Seven Hundred Fifty <br /> Thousand and 00/100 Dollars ($2,750,000.00). <br /> (b) Rental Payment Prepayment. Upon delivery of the Equipment, Lessee shall prepay Lessor <br /> the Rental Payment due and owing under this Lease, an amount equal to Two Million Seven <br /> Hundred Fifty Thousand and 00/100 Dollars ($2,750,000.00). <br /> (c) Late Payments. If the Rental Payment or any other amount owed under this Lease is not <br /> paid to and received by Lessor within three (3) business days after the date such payment is due, <br /> 2 <br />
The URL can be used to link to this page
Your browser does not support the video tag.