HomeMy WebLinkAboutEquipment Lease 530 Greene St. Room 605
Augusta Richmond GA
DOCUMENT NAME: ~~ 0 I pr1"\ €:N r LIE. t::l~ ~
5"30 &-e6EJv{E ST. eOOp) ~-~
t,OS
DOCUMENT TYPE: Lr- ~ S ~ A ~ R ~ e= y-t') ~ qJJ S
YEAR: {fqq~
BOX NUMBER: '1
FILE NUMBER: I '-!l 00
NUMBER OF PAGES: I ;;l
Equipment Lease
This form is subject to Federal and Sfate legal requirements,
1. Equipment Leased.
Lessor hereby leases to Lessee, and Lessee hereby hires and takes from Lessor the following-described personal property
(hereinafter, with all attachments, replacement parts, substitutions, additions, repairs and accessories incorporated therein and/or
affixed thereto, and proceeds, referred to as "Equipment"): Describe Equipment fully, induding make, kind of unit. model and serial numbers, and any
other pertinent information.
Two (2) Moxy Model MT30 6X6 Articulated Dump Trucks SN's 354220 and 354221
And all tires, wheels, additions, substitutions, attachments, replacements and accessions
thereof, plus the proceeds of all the foregoing.
and Lessor agrees within
days from the date hereof to cause said Equipment to be delivered to Lessee, f,o,b.
For said term or any portion thereof, Lessee shall pay to Lessor rentals aggregating $ 3 60, 597.24, of which $10, 016.59 is
herewith paid in advance and the balance of the rental, $350,580.65, is payable in 35 equal, successive, monthly rental
payments of $10,016.59 each, of which the first is due 1/)) /9'1 and the others on a like date of each month thereafter, until
fully paid. I " '
Special Provisions
See Rider "A" consisting of Two (2) pages attached hereto and made a part hereof.
Other Than Successive Monthly Payments
4. Purchase Option.
At the expiration of the original term hereof, if Lessee has paid in full all rentals owing under this Lease, and be not then in default
hereunder, Lessee shall have the option to purchase all but not less than all the items of Equipment hereunder upon giving written
notice to Lessor not less than 30 days prior to the expiration of the original term hereof,
The purchase price shall be h 94,120.00.
395 (11/98) Equipment Lease - Except Texas
Page 1 of 6
,
5. Use, Nature and Location of Equipment.
Lessee warrants and agrees that the Equipment is to be used primarily for:
~ business or commercial purposes (other than agricultural),
o agricultural purposes (see definition on the final page), or
o both agricultural and business or commercial purposes.
Lessee and Lessor agree that regardless of the manner of affixation, the Equipment shall remain personal property and not
become part of the real estate. Lessee agrees to keep the Equip'ment at
530 Greene Street Room 605
Address
Augusta
City
Richmond
County
GA 30911
State Zip Code
but upon prior written notice to Lessor may change the location of the Equipment within such State, Lessee will not remove the
Equipment from such State without the prior written consent of Lessor (except that in the State of Pennsylvania, the Equipment
will not be removed from the above location without such prior written consent).
6. Repairs.
Lessor shall not be obligated to install, erect, test, adjust, service or make any repairs or replacements; Lessee shall not incur for
Lessor's account or liability any expense therefor without Lessor's prior written consent. Lessee shall inspect the Equipment
within 48 hours after its receipt; unless within said time Lessee notifies Lessor, stating the details of any defects, Lessee shall be
conclusively presumed to have accepted the Equipment in its then condition. Thereafter, Lessee shall effect and bear the
expense of all necessary repairs, maintenance, operation and replacements required to be made to maintain the Equipment in
good condition, nonnal'wear and tear excepted.
7. Operators.
Lessee shall cause the Equipment to be operated by competent employees only, and shall pay all expenses of operation.
8. Liability.
Lessee shall indemnify and save Lessor hannless from any and all injury to or loss of the Equipment from whatever cause, and
from liability arising out of the use, maintenance and/or delivery thereof, but shall be credited with any amounts received by
Lessor from insurance procured by Lessee. Damage for any loss or injury shall be based on the then true and reasonable
market value of the Equipment irrespective of rentals theretofore paid or accrued.
9. Insurance.
All risk of loss, damage to or destruction of the collateral shall at all times be on Lessee. Lcssee will f;lfOCUFC forthwith and
. . , . '" .
there r the life of this Lease plus breach of warranty insurance and such other) insurance thereon in amounts a gainst~
such risks Lessor may specify, and shall promptly deliver each policy to Lessor with a standard long - mortgagee
endorsement atta thereto showing loss payable to Lessor; and providing Lessor with not less than 3 s written notice of
cancellation; each sucti 'c shall be in fonn, tenns and amount and with insurance carriers sa . ctory to Lessor; Lessor's
acceptance of policies in lesse ounts or risks shall not be a waiver of Lessee's foregoing 0 . tion. As to Lessor's interest in
such policy, no act or omission of Le or any of its officers, agents, employees or r sentatives shall affect the obligations
of the insurer to pay the full amount of any
Should Lessee fail to such insurance policy to Lessor, or to maintain such policy in full force, to pay any premium in
whole or in part r . g thereto, then Lessor, without waiving or releasing any default or obligation by Less ay (bu~ shall be
under no o' Ion to) obtain and maintain insurance and pay the premium therefor on behalf of Lessee and charg e 'premium
e s indebtedness under this Lease. The full amount of any such premium paid by Lessor shall be payable b see
10. Taxes.
395 (11/98) Equipment Lease - Except Texas
Page 2 of6
Lessee shall comply with and conform to all laws, ordinances and regulations relating to the ownership, possession, use or
maintenance of the Equipment, and save Lessor harmless against actual or asserted violations, and pay all costs and expenses
of every character occasioned by or arising out of such use. Lessee agrees that, during the term of this Lease, in addition to the
rent and all other amounts provided herein to be paid, it will promptly pay all taxes, assessments and other govemmental charges
(including penalties and interest, if any, and fees for titling or registration, if required) levied or assessed:
(a) upon the interest of the Lessee in the Equipment or upon the use or operation thereof or on the earnings arising therefrom;
and
(b) against Lessor on account of its acquisition or ownership of the Equipment or any part thereof; or the use or operation thereof
or the leasing thereof to the Lessee, or the rent herein provided for, or the earnings arising therefrom, exclusive, however, of
any taxes based on net income of Lessor,
Lessee agrees to file, in behalf of Lessor, all required tax returns and reports concerning the Equipment with all appropriate
governmental agencies, and within not more than 45 days after the due date of such filing, to send Lessor confirmation, in form
satisfactory to Lessor, of such filing.
11. Title.
All said Equipment shall remain personal property, and title thereto shall remain in Lessor exclusively. Lessee shall keep the
Equipment free from any and all liens and claims, and shall do or permit no act or thing whereby Lessor's title or rights may be
encumbered or impaired. Upon expiration or termination hereof by other than default, the Equipment shall be returned
unencumbered to Lessor by Lessee at the place where the rent is payable or to such other place as Lessor and Lessee agree
upon, at Lessee's sole expense and in the same condition as when received by Lessee,normal wear and tear resulting from
proper use thereof alone excepted. Lessee shall pay rent at the said rate until all said Equipment arrives at Lessor's premises, or
other place designated by Lessor.
12. Inspection.
Lessee shall, whenever requested, advise Lessor of the exact location and condition of the Equipment and shall give Lessor
immediate notice of any attachment or other judicial process affecting the Equipment, and indemnify and save Lessor harmless
from any loss or damage caused thereby, Lessor may, for the purpose of inspection, at all reasonable times enter upon any job,
building or place where the Equipment is located; and may remove the Equipment forthwith, without notice to Lessee, if the
Equipment is, in the opinion of Lessor, being used beyond its capacity or in any manner improperly cared for or abused.
13. Non-Waiver.
Time is of the essence. Lessor's failure at any time to require strict performance by Lessee of any of the provisions hereof shall
not waive or diminish Lessor's right thereafter to demand strict compliance therewith or with any other provision. Waiver of any
default shall not waive any other default. No remedy of Lessor hereunder shall be exclusive of any other remedy herein or by law
provided, but each shall be cumulative and in addition to every other remedy.
14. No Warranty.
Lessor, not being the manufacturer of the Equipment, nor manufacturer's agent, makes no warranty or representation, either
express or implied, as to the fitness, quality, design, condition, capacity, suitability, merchantability or perfonnance of
the Equipment or of the material or workmanship thereof, it being agreed that the Equipment is leased "as is" and that
all such risks, as between the Lessor and the Lessee, are to be borne by the Lessee at its sole risk and expense. Lessee
accordingly agrees not to assert any claim whatsoever against the Lessor based thereon, Lessee further agrees, regardless of
cause, not to assert any claim whatsoever against the Lessor for loss of anticipatory profits or consequential damages. No oral
agreement, guaranty, promise, condition, representation or warranty shall be binding; all prior conversations, agreements or
representations related hereto and/or to said Equipment are integrated herein.
15. Possession.
Lessor covenants to and with Lessee that Lessor is the lawful owner of said Equipment free from all encumbrances and that,
conditioned upon Lessee's performing the conditions hereof, Lessee shall peaceably and quietly hold, possess and use the
Equipment during said term without let or hindrance.
16. Perfonnance of Obligations of Lessee by Lessor.
395 (11198) Equipment Lease - Except Texas
Page 3 of6
In the event that the Lessee shall fail duly and promptly to perform any of its obligations under the provisions of this Lease, the
Lessor may, at its option, perform the. same for the account of Lessee without thereby waiving such default, and any amount paid~
or expense (including reasonable attorneys' fees), penalty or other liability incurred by the Lessor in such performance, te~ctRer
witl. illll::II:::::.l dl tile I all:: vr 1 1/2% per" IOl,tl, thereon I::lntil peiel by tRC LC33CC te tRC Lesser, shall be payable by the Lessee upon '
demand as additional rent for the Equipment. }
17. Further Assurances.
Lessee shall execute and deliver to Lessor, upon Lessor's request such instruments and assurances as Lessor deems necessary
or advisable for the confirmation or perfection of this Lease and Lessor's rights hereunder,
18. Default.
An Event of Default shall occur if:
(a) Lessee fails to pay when due any installment of rent and such failure continues for a period of 10 days;
(b) Lessee shall fail to perform or observe any covenant, condition or agreement to be performed or observed by it hereunder
and such failure continues uncured for 15 days after written notice thereof to Lessee by Lessor,
(c) Lessee dies, ceases doing business as a going concern, makes an assignment for the benefit of creditors, admits in writing
its inability to pay its debts as they become due, files a voluntary petition in bankruptcy, is adjudicated a bankrupt or an
insolvent, files a petition seeking for itself any reorganization, arrangement, composition, readjustment, liquidation, dissolution
or similar arrangement under any present or future statute, law or regulation, or files an answer admitting the material
allegations of a petition filed against it in any such proceeding, consents to or acquiesces in the appointment of a trustee,
receiver, or liquidator of it or of all or any substantial part of its assets or properties, or if it or its shareholders shall take any
action looking to its dissolution or liquidation;
(d) within 60 days after the commencement of any proceedings against Lessee seeking reorganization, arrangement,
readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, such proceedings
shall not have been dismissed, or if within 60 days after the appointment without Lessee's consent or acquiescence of any
trustee, receiver or liquidator of it or of all or any substantial part of its assets and properties, such appointment shall not be
vacated; or
(e) Lessee attempts to remove, sell, transfer, encumber, part with possession or sublet the Equipment or any item thereof,
Upon the occurrence of an Event of Default, Lessor, at its option, may:
(a) declare all sums due and to become due hereunder immediately due and payable;
(b) proceed by appropriate court action or actions or other proceedings either at law or equity to enforce performance by the
Lessee of any and all covenants of this Lease and to recover damages for the breach thereof;
(c) demand that Lessee deliver the Equipment forthwith to Lessor at Lessee's expense at such place as Lessor may designate;
and
(d) Lessor and/or its agents may, without notice or liability or legal process, enter into any premises of or under control or
jurisdiction of Lessee or any agent of Lessee where the Equipment may be or by Lessor is believed to be, and repossess all
or any item thereof, disconnecting and separating all thereof from any other property and using all force necessary or
permitted by applicable law so to do, Lessee hereby expressly waiving all further rights to possession of the Equipment
and all claims for injuries suffered through or loss caused by such repossession; Lessor may sell or lease the Equipment at a
time and location of its choosing provided that the Lessor acts in good faith and in a commercially reasonable manner, but the
Lessor shall, nevertheless, be entitled to recover immediately as liquidated damages for loss of the bargain and rot as a
penalty any unpaid rent that accrued on or before the occurrence of the event of default plus an amount equfll to the
difference between the aggregate rent reserved hereunder for the unexpired term of this Lease and the then aggreg~te rental
value of all Equipment for such unexpired term, provided, however, that if any statute governing the proceeding in which such
damages are to be proved specifies the amount of such claim, Lessor shall be entitled to prove as and for damages for the
breach an amount equal to that allowed under such statute, The provisions of this Paragraph shall be without prejudice to
any rights given to the Lessor by such statute to prove for any amounts allowe,p thereby. Should any proceedings be
instituted by or against Lessor for monies due to Lessor hereunder and/or for possession of any or all of the Equipment or for
any other relief, Lessee shall pay a reasonable sum as attorneys' fees. No remedy referred to herein is intended to be
exclusive of any other remedy stated herein or of any other remedy otherwise available to Lessor at law or in equity,
395 (11/98) Equipment Lease - Except Texas
Page 4 of 6
19. Assignments.
Without the prior written consent of Lessdr, Lessee shall not assign this Lease or its inter9lits hereunder or enter into any
sub-lease with respect to the Equipment covered hereby, it being agreed Lessor will not unreasonably withhold its consent to
a sub-lease of the Equipment The conditions hereof shall bind any permitted successors and assigns of Lessee. Lessor may assign
the rents reserved herein or all or any of Lessor's other rights hereunder, After such assignmen~ Lessor shall not be assignee's agent
for any purpose; Lessee will settle all claims arising out of alleged breach of warranties or otherwise, defenses, set -offs and
counterclaims it may have against Lessor directly with Lessor, and not set up any such against Lessor's assignee, Lessor hereby
agreeing to remain responsible therefor. Lessee on receiving notice of any such assignment shall abide thereby and make payment as
may therein be directed. Following such assignment, solely for the purpose of determining assignee's rights hereunder, the term
"Lessor" shall be deemed to include or refer to Lessor's assignee,
20. Miscellaneous.
Lessee will not change or remove any insignia or lettering on the Equipment and shall conspicuously identify each item of the
Equipment by suitable lettering thereon to indicate Lessor's ownership. All transportation charges shall be bome by Lessee. All notices
relating hereto shall be sent certified mail, retum receipt requested to Lessor or Lessee at its respective address shown herein or at any
later address last known to the sender. If any part hereof is contrary to, prohibited by or deemed invalid under applicable laws or
regulations of any jurisdiction, such provision shall be inapplicable and deemed omitted but shall not invalidate the remaining provisions
hereof. Lessee waives all rights under all exemption laws. Lessee acknowledges the receipt of a true copy of this Lease. This
Lease is irrevocable for the full term hereof and for the aggregate rental herein reserved, and the rent shall not abate by reason of
termination of Lessee's right of possession and/or the taking of possession by Lessor or for any other reason, AAY ~aYRleAt ABt Ff13c1erM
v..hcR 61:1C shall, at the O~tiOR of LCS3er, bear late ch8~C3 thercoR ealel:llateel at ~e Fete af 1 1/2% ~cr R'leAtA, Bl:lt iA Ae evcAt ~r:eater1~
tRaR the hifJt:lest rate ~eFfflittcet BY rclc'/BAt lEI"'''. In the event this Lease is deemed to be a lease intended as security, Lessee grants
Lessor a security interest in the Equipment as security for all of Lessee's indebtedness and obligations owing under this Lease as well
as all other present and future indebtedness and obligations of Lessee to Lessor of every kind and nature whatsoever. Lessee shall be
responsible for and pay to Lessor a retumed check fee, not to exceed the maximum permitted by law, which fee will be equal to the sum
of (i) the actual bank charges incurred by LesSor plus (ii) all other actual costs and expenses incurred by Lessor, The retumed check
fee is payable upon demand as additional rent under this Equipment Lease.
This Lease contains the entire agreement between the parties with respect to the Equipment, and may not be altered, modified,
terminated or discharged except by f3 writing signed by the party against whom such alteration, modification, termination or discharge is
sought Lessee's initials ~
21. Year2000. ~
Thc LC33CC 3Aall mite all aetieFl ACOC300Fy te sssur-c that its eeffi~l:lter Bases 5Y!3tcFf15 OFC able te effcetively ~reeeoo aota iAell:laiA~ ''1P1
l!Iate3 eRd date 3cR3iave fufleasfls. The Lessee represents and warrants that the Year 2000 problem (that is, the inability of certain
computer applications to recognize and correctly perform property date-sensitive functions involving certain dates prior to and after
December 31, 1999) will not result in a material adverse effect on the Lessee's business condition or ability to perform hereunder. ~~
FCEjUcst, tAc Lessee sAslI ~f6'Jidc SSSI:lFeROC acceptablc te lAe Loeser tf:1at t/:10 Lessee's ooFf1~b1ter cystSFf1€ m::)G! €Qftw3m 3m sr \'Jilllac
V-ear 2000 OOA'll3lielAt OR a tiRle~' 93€i€, The Lessee shall immediately advise Lessor in writing of any material changes in the Lessee's ~
Year 2000 plan, timetable or budget
If Lessee is a corporation, this Lease is executed by authority of its Board of Directors.
Dated: IJ-( Iff I ~ 'd
Lessee:
f'
530 Greene Street Room 902
Address
Augusta
City
GA 30911
State Zip Code
395 (11/98) Equipment Lease - Except Texas
Page 5 of 6
Lessor:
P.O. Box 27248
Address
Tempe
City
AZ
State
85285-7248
Zip Code
If Lessee IS a partnership, enter:
Partners' names
Home addresses
NOTICE: Do not use this form for transactions for personalt family or household purposes. For agncultural and other
transactions subject to Federal or State regulations, consult legal counsel to determine documentation
requirements.
Aarlcultural.nurposes generally means farming, including dairy farming, but it also includes the transportation, harvesting, and
processing onarrn, dairy, or forest products if what is transported, harvesled, or processed is farm, dairy, or forest products grown
or bred by the user of the Equipment itself. It does not apply, for instance, to a logger who harvests someone else's foresf, or a
contractor who prepares land or harvests products on someone else's farm.
395 (11/98) EquIpment Lease - Except Texas
Page 6 of 6
RIDER" A"
Return Provisions Rider
"Return Provisions Rider" attached hereto and made a part of Equipment Lease dated J;). / 19
193L between County of Richmond, Georgia as Lessee and The CIT Group/Equipment Financing, Inc. as
Lessor.
Equipment Return Conditions:
1. Condition Reports:
At 60 days prior to the return of the equipment, Lessee shall at its own expense have a Dealer
Service Representative or other similarly qualified equipment maintenance representative
acceptable to Lessor provide written condition report on the results of a comprehensive physical
inspection of the equipment. The Lessee will have 45 days to address and cure the discrepancy as
mutually agreed by Lessee and Lessor at Lessee's expense.
2. Minimum Standards and Conditions for Returned Equipment:
A. During the term of the Lease the equipment shall have been maintained in accordance
with a maintenance program that meets or exceed the manufactures standards for
compliance with its warranty.
B. The general condition of the equipment will be such that all operating components must
be able to perform their operating function as originally intended and specified by the
Manufacturer, The equipment shall be in compliance with all applicable Federal, State
and Local Safety Standards and Regulations applicable to each item of equipment. Each
item of the equipment shall be returned fully assembled. Necessary repairs to the
exterior and interior of the operators cab areas shall not exceed $500 as determined by
the condition report.
C. All tires shall be of the same original size, type and of a similar quality manufacturer as
when delivered new to the Lessee. The tires on each unit being returned shall have at
least 50% of original tread remaining with original casings and shall be matched as to
wear within a variance of not more than 10% on each single axle as determined by the
condition report.
D. The power tram assembly and brakes for the equipment shall have at least 50% useful
life before manufacturer's recommended overhaul or replacement as determined by the
condition report on all major component parts and shall be subjected to an oil sample
analysis that show wear on the assemble that does not exceed the manufacturer's then
current standards for normal wear.
E. The undercarriage shall have at least 50% average useful life before manufacturer's
recommended overhaul or replacement remaining on each component part including
pins, brushing, idlers, rollers, sprockets and tract group as determined by the condition
report.
F. The engines must have been maintained in accordance with manufacturer's
recommendations and in conformance with requirements of the manufacturer's warranty
as the same may be amended from time to time. The engines must be fully operational
and have at least 50% useful life before manufacturer's recommended overhaul on
replacement as determined by the conditions report, and meet or exceed the
manufacturer's then current standards for operational performance for normal use.
G, The hydraulic systems must not be damaged or leak and be fully operational and be able
to perform lifting capacity, height and lengths reach which meets or exceeds the
manufacturer's then current standards or operating performance to normal use as
determined by the condition report.
H. Frames and structural members, including but not limited to loader arms, stick, booms,
buckets, blades, frame rails, all ground engaging tools and all attachments will be
structurally sound, without breaks, bends, cracks or missing parts.
I. All maintenance records, including hours at the time of maintenance, record jackets,
repair orders, and all other similar documents pertaining to the Equipment, in their
entirety, if requested by Lessor, will be delivered to Lessor. The equipment will be free
of all advertising or insignia placed on the equipment by Lessee.
3.
Equipment Returns Location:
Lessee will at its sole expense return the equipment to Lessor at any location within the s;,"./Lc.afle~
C68tineHwl United States designated by Lessor. The Lessee must provide written evidence to
Lessor that the equipment will be delivered according to manufacturer's standards by mutually
agreeable carrier and that the equipment will be properly insured.
If
4. Storage of the Equipment:
At Lessor's election, Lessee must provide safe secure storage for the Equipment for a period up to
120 days after expiration or early termination of the Lease at such location as is satisfactory to
Lessor.
5. Excess Hour Usage Fee:
At the time of redelivery, the Lessee will be charged $ 40. Of) per hour for each hour of usage
that the returned equipment exceeds b.OOO allowable hours. The calculated sum will be due
upon receipt of invoice.
LESSOR:
The CIT Group/Equipment Financing, Inc.
BY:~~
Title: "\A~P~
TIIIJ dooIHntllllpplCV,d ..
~~W:~
2
~~f~~/~O ~U:Ul YAX 6U~~5~14~6
CIT GKOUP
. .
___ _0. __._ _0_"
NON APPROPRIATION RIDER
This Non-Appropriation Rider to the Equipment Lease dated as of J 2. /19 ,1998
(the "Lease''), is by and between The CIT GrouplEquipment Fi11ancing, Inc. as Lessor lUld County of
Richmond., Georgia, as Lessee. Capitalized terms used ~erein without defl1litioJl sball be defined as
provided in the Lease.
Notwithstanding anything contained in the Lease to the contrary,
I. The term of the Lease expires at midnight on the last day of 1998, and ifrenewed, at the end of
each successive calendar year until the earlier of (i) a calendar year end in which Lessee does not
renew the term for the next calendar year or (ii) December 2001, upon which date Lessee shall not
bave the right to renew the term of the Lease (the remainder of 1998 and each such succeeding
calendar year being a "Year''). The Lease shall be deemed automatically renewed for the next
Year, subject to clause (ll) above, unless the Lessee sends Lessor written notice DO later than
December I of such YecrrthatLessee intends to teTminate the Lease as oftbe end of such Year.
By execution of the Lease aud this Rider Lessee confirms that it has renewed the Lease for the
Year ending December 31, 1999.
2. In the event nO funds or insufficient fimds are appropriated and budgeted by Lessee's governing
body OT are not otherwise available by any means whatsoever in any Y car for rental payments or
other amOUIlts due under the Lease. the Lease shall terminate on 'the last day of S\lch Year for
which appropriations were receIved without penalty or expense to Lessee of any kind whatsoever,
except as to dle portions of reutal payments or other amounts herein agreed upon for which funds
shall have been appropriated and budgeted or are otherwise available. The Lessee will
immediately notifY the Lessor or its assignee of such occurrencc. Notwithstanding the foregoing,
Lessee agrees, to the extent permitted by law, (i) that jt will not cancel the Lease under the
provisions of this Paragraph 2 jf any funds are appropriated to it, or by it, for the acquisition,
retention or operatioD of the Equipment or other equipment perfoTTTling functions similar to the
Equipment fOT the Year in which such le11llination occurs or the next succeeding Year thereafter,
and (ii) that it will not during the Lease term give priority in the application of funds to any other
functionally similar equipment or services.
3. Upon termination of the Lease for any reason Lessee shall retum the Equipment as required under
Section J 1 of me Lease.
4. Lessee's total paymentundertbe Lease in 1999 is $10,016.59. Thereafter, ifrenewed, Lessee
shall pay in each Year twelve payments ofSlO,016,S9.
5. Lessee and Lessor understand and intend that the paymCllts made by Lessee under the Lease are
paymems of current expense of Lessee and shall not in any way be construed to be a debt of
Lessee in con1J'avention of any applicable constitutional or statutory limitatiOTlS or requirements,
nor shall anything contained herein constitute a pl~e of the gencraltax revCllUes, funds or
monies of Lessee.
6. Section 18(a) of the Lease is amended to read 1n its entirety as follows: "declare an aIJloW\t equal
to all amounts then due under the Lease, and all unpaid Lease Payments due during the Year in
which the default Ott\llS to be immediately due and payable",
7. The Lease and lhis Rider shall be governed by the laws of the Georgia. Any provisions of the
Lease or d1is Rider found to be prohibited by law shall be ineffeaive to the extent of such
prohibition wilho\lt invalidating the TeII1aiJ1der of the Lease or this Rider.
IgJUU~/UU~
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r~ OV':;O<>O.L't~O
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----
8. This Rider may be executed in several cotmtexpaIts and all of which shall constitute but one and
the same iIlstroment.
9, This Rider shall be binding upon and inure to the benefit of the Lessee and Lessor and their
respective successors and assigns.
10. Except as m.odified herein the Lease remains in full force and effect.
IN WITNESS WHEREOF, each of the parties hereto has caused. this Rider [0 be executed as of
the day of ,19_
By:
Title:
r~
LgJ VI)J/ 1)1)'1
12114/98 10: 02 FAX 6028581496
,,:-.- -
C IT GROUP
l4J 0041 004
Delivery and Installation Certificate
To: THE efT GROUP/EQUIPMENT FINANCING, INC.
P.O. Box 27248
Address
Tempe
eity
AZ 85285-7248
State Zip Code
The undersigned hereby certifies that all of the goods, chattels and equipment (all hereinafter called "eQuipmenf') described In
the ~uipment Lease dated
between The elT GrouplEquipment Financing, Ine. as Lessor and the undersigned
as Lessee, (the "Lease'1 have been fumished to the undersigned at the location designated in the Lease, that delivery and
installation of the equipment have been fully completed as required, and that the equipment has been inspectecl and accepted by
the undersigned as satisfactory on
. The undersigned understands
that you are relying on the foregoing certification in your purchase of the equipment described in the Lease and, to induce you to
purchase the equipment, the undersigned agrees to settle all claims, defenses, setoffs and counterclaims it may have
with
seith Equipment Co., Inc.
("Sel/er") directly with the Seller and will not set up any
thereof against you, that its obligation to you is absolute, and that you are neither the manufacturer, distributor nor seller of the
equipment and have no knowledge or familiarity with it.
Two (2) Moxy Model MT30 6X6 Articulaeed Dump Trucks SN'S 354220 and 354221
Dated:
lJ-!/~/q<j
,
Lessee;
TItle ~~.
President or Treasurer. and gIVe . 11I1I8.
lNa dacumttllljlplQYtd ..
~~!r
1394A (11198) Delivery and InstaIalion Cettificate -LGaClng . CIT u Lecsor
Psgs 1 of 1
THE CIT GROUP/EQUIPMENT FINANCING, INC,
P.O. Box 27248
Address
Tempe
City
Gentlemen:
AZ 85285-7248
State Zip Code
Date
1)./ICj/7~
I '
You are irrevocably instructed to disburse the proceeds of the Equipment Lease between County of Richmond, Georgia
as Lessee and The CIT Group/Equipment Financing, Inc. as Lessor. dated as follows:
Payee Names and Addresses
SMA Stith Equipment Company, Inc.
The CIT Group/Equipment Finanicng, Inc.
(Non-refundable origination fee)
Very truly yours,
Title
Total Proceeds $
Jf'(:j
Amount
$
$
$
$
$
$
$
484,800.00
500.00
485,300.00
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