|
<br />re~e;p' of rio'i~e c: any Tmnsfer to a Nevi Owner, You ~hall record the same In ~ecords "'ainlained rDr such purpose In Ql"Oer 10 r.omply with 5adiDn 14~ 01 the Inlem",1 Ravanuc
<br />Code ~f 1!J68.:lJ ~me"drld (1ha MColle"). 'TOll .lllll'ee not 10 asssrt iOgail'ISL the New o.vner any claim, def"lns" 0' orrset YOIJ may na_ againsl Us or any predcces.sor In inlernt,
<br />
<br />10, TAXES AND 0 rH~R FEES, llle p~~les herelD wnlemplattl tllat tno Equlpmen1 will be UEed for a 9~vOO'llment81 purp""''' and !hat Iha Equi pmonl will be e~ernpllrom alllaXeI
<br />presenflya5sasYld antl levied wilh I1!spaellD personal property In the evanllhallhc use. poness1CO'l or acquisilicn of 1I1l: Equipmenlls found ID be subjactlo l......lion in anyfonn
<br />(indudlng, \V:lhout limilaliOtl, sales, U!;ll and pertonal progeny la~s, and emOOing u"ly la~es 1)3~d on Qur inC()ma), You wi. ~y, 3$ lhe gBme corne dU8, all Iillles and
<br />gO\l8rnnlC~lal ch:Jmes al any \(irod wl~I~'JP.I" t"lal may at a'ly Lillie be &awfully usessed or lavi9Cl wilh respeC110 11>8 Equipmernt, .as willi as all le\'les, 8ss~ments, licente Jlnd I
<br />rP.gistra1ion fees llll!l other gavsrnmen13L Cnarges rela1ing 10 lI'lis Lease or the Equipmenl (rollsdi"Qly_ wll~ such laxes, MGovernmenla1 Ollal1l"")' You 111:;0 ",gll!e \0 pay U~
<br />UP'l" demanc! (i) ft:f a II costs. (If filing. amandinll ao1(1 rele~sing UCC financing slift.elllcn Ls, and (ii) e prnc:euing feB 01 S75.00 (or es Glnerwise agread) ID COYIIr 01.1 r Investigatian,
<br />dOCUll1entBtion and otller adr'J1i~isll'<ltiva cosl~ Ul ilr1gin3li nl< lnis lenll. You al&o agree 10 lla~ Us a fee. in ao:oroanal with Out CUrl"enl fee s,chedUI'L which may Change lrom time
<br />lu L me. for addioonal SCn/lces W.. may pra'lid" 10 1'011 ~t YDur request d\Jring 11m L,,~sc. You agree th.t 1t1.. te.. &11'1 for1~ In tit Is l.e-..e m.y Includ.. 8 pmfit.
<br />
<br />11, SAVINGS CLAU~ If Jlny amDunt l:ha,ged or collected by Us undar mil UMe Ig grNrer (hiln nlll .rrno<mf .~ by 1.111\ 1m:Wdln9, VIoilbtlut wnl~llon, ~n)'
<br />amoLlBI thllt exceed5 any apptlc.ble usury limib; (an "Excen Amount"), then Ci) any EXCCIS Amount charged by Us bul not ~e1 paid by You will be waived b)' "s .nd
<br />(II) any EJlctlS AIlIOLlnt collecl8d bjI Us will, at Your option, bs refunded 10 Vou 011" a~pli.d lID ~ny otlter OmO\lnt then dua hereLlnder,
<br />
<br />1~- DEFAULT. Each o.f the followirlQ moeots snail r.msti1ule all "Event of Defoull" un~r this leBS8: (1) any rllClresenl3tion or warranty mad8 by You In 1f1ls ~e(lse Dr otherwise
<br />to US is unlrue. incOrfli!d v, mlslellding. (2) '(our brc3C/'l 01 eny co\tP.nant, agreament or oll1er ooll!"l8tion !;Ill 10r1h herein Dr in any other a~reement now or hl!lea.fIBr cntered inlo
<br />be\wcC'l YOtI And Us, and'"Or 13~ Your insol.'tmcy or ui~SOlulion, lnp. institution by or a\li!linst YOIl of Any I:lankruptcy, ~rganization, rcceillef1lhip, ~c.nservalon;nip at omer
<br />inliOlvl4l'lcy-relll1ed PlOc9llding, lIlC f.llog by orllgainsl YDU' 01 iOn assignrnen1 f{lr the bane\il of Your c,cd.lors, or Your admissian of '(Dur ;nabili\y to pay Your debts in genaral as the
<br />sam!? fall duc. 11 an f:~ent of D8faull occurs, We may dD any Dr all.,., tile foIlO'//iI'lCJ' (A) oancel this L.easll. (B) require Vall to rebJm tJ1e Equipmenl pursuant 10 Sec;1ion '3 balow,
<br />(C) tflke posStlssiDn ~I 3ndlor rerxtar Ih~ Ecuipcl1ent (lncluding Any solbr.1I8) unusable, ~nd lor such purpo",s YOLl nereby a.uthorize Us and Our dll"gnoes (0 enler Your
<br />pl"emiSQS, \'oiln or without priOr nC11c.e or crInar proCllSS ullaw, {D) require You 10 pay to lJs, on oem3nd. an amoont equal \0 118 lum at {I) all Le~~ PaY1T1l1nls and olJler JlffiOUnl6
<br />then dua and p~st dUe, (ii) all remaining Lease Payments and othsr amoon1s dl.le l1ere"nder for lhOllll11"l2linder of Your the~currefll f1sCilI poriod. discoonled lit '" nrle of 6% pet
<br />annum (O<Ilhe Iowasl ra\C permitted!l~ law_ whi~l1C\Jer is tlioner), end (Iii) Dafau',t Intllrest of'llhe ernollnts spaciliQlJ in clallses 'I" end "i;" e.~ from Iha d~19 (II demalld to the dale
<br />paid (such ~m"unls tipHciflCod in sub-clause& 1" tllrougl1,'iil' refened to below as llle "B.lance D\le-}. and/Dr (E) o~CtOlle any othe< remedy .....ailabla m Us under law. Yoo al&D
<br />egrea ttJ IClmoUt'Se Us on darna M for ~II reasnnable axpenses 01 enlOll:emenl (ind uding. WiU10ut Ii m<l3110n. rea60J1abla attorney.' felet IInd other le!llll cosls) aAd roaoonable
<br />e~~en&tl"s 01 fep09SeSsing, hulding, preper1ng for dispO&ition_ and disposition ('.Rl!mark~tinll"l vr II'le Equi~ment, plus DtIfaulllntllrest on the loregoing ernounl& lrom lIle da.le of
<br />damaf'ld t(llhe date p~ill. In 111e e~..nl We are successful in Rema.rlc.eling tha EG'~ipment, We Y>all giva You a credit lIoainst the Belance DLHI in an arOOu nt equal to the ~re",nl
<br />value of lhe prOl;l!adll receIVed and 10 be 11!CI!i'fCd lrom Ael'llllr1<eling minu s tha alKMl-nlel1tioned msts (the "NIrl p,oceed."., If th. N.. PrDceaOs ara less lIIan '''~ B.lanca
<br />Du., YOII shan be ~Illble for 6uch deflelel'lcy, subjact. howsvlIr to Sectlol'l15 blow ;Ind to any O~tt r~ulrements. Df ap'plicable law. If the Nel Pll1oe!ads anr 9,nler lh",n
<br />LIla Blllance Dua, Wa sllall PllY You SUdl ~urprus A.n~ delay or failure 10 ~nfOrCC OUt rlght9 tinder Ihi6 ltla~1l shall,,04 cmslilule a waMlr lt1a",of II We are holding any mooey
<br />bcJcJn!1lng to '(ou at any lime !luring this leass, You Ol!JI~e lhlll We may ralain and ulilit.e ltte sa.me to e,Ula or DthDrwise rover env dP.faull bv Yoo hal1!llJndlll
<br />
<br />13,' RETURN O~ EQUIPME.NT II You al9 roquired 10 relum lhe Equipm8nt under Ihlt ~eese, You 6hall, at Your e~poense. pmmpllv upon dBm2lnd, ",nd the E.Qvipmenl 10 BnY
<br />lorolion(slthal Wa may deslr.n~le. The Equipment musr lie Pl'OpP.fly packed for mill'r.e'll, lreogh.l prepaid and fully insured, 3nd mu5t be recaivad in Good CDnllilion (llS defined in
<br />Saclooo f> anOWl), If ~a Equipmen1 is not faceived willll.. 15 dll)'s ~ftha dais of damand, YOI.l agree ID continua paY;l1g LeaSe Paymen~ and all other amol~nts due hereunder unlll
<br />lAP. Equipment Is ~i'ved by Us.
<br />
<br />1.- APPUCAat.~W_ This l....sc sMN be gI.."V\!!rm;od byllre/;MS ti4 me Sll!l!! in whict, J'QIJ ara located. To the e.ru.nt permittad l:Iy appllelble I.w. ~t-.e p.Brtle6 ilerwto wal....
<br />thslr res.pecli...e rill ~t5 10 I trial b~ jury in any legJlI lIc'lon_ Each provisiun Ilcreol sl)311 be Interpratad to thO ma~1 mum ex1enl possi~ to ba enfon:ear..e unoer epplicabls law:
<br />If any prOIlI$ion is CDr\strusd 10 be Ilnenfor&eabl8, sucl111rovislon shall be in~acti\18 Dnly Ie llle e~tenl of5UlOh unenf[7lc~abllily wlthOUllnvalldaling the rarnE!linder h8100r.
<br />
<br />15, ~.JI.PPROPfl/AT10N OF FUNDS_ You hereby represenl. walTant and clNcn3n.l unl{l Us that (a) YlJlI ;ntcl'ld, sub!eCl only 10 tha proviliioll& lJI this Sec1lon 15, to l1!ITlit to
<br />lJs ~II 5unl& d1.le l,lond 10 bl!a)1n!l tlue ullder lhi5 Laass for 11111 Sct'ledule<:l Term; (b) Yaur gO'VCrnino body hAs appr"'Prialed ~ufliOcot funds ro pay all Le<lo6e F'a:rmanls and Olher
<br />amount.; du,,! dunl,g Your cunent flsc~1 period, anc! (c) You reasDnably bclleve 11'1811eg~lIy availiObl" fundll ill an llmoonl 6u1fici8nttD ma~& all Lease Paytnen!& IDr tha Schoduled
<br />Term can he obl~inad. NOIYoiln,IBndin'tjthlO roregoll1D. t~e dP.dsion whs1~r ~r nOI.O budgelllnd approprlalQ fur>ds is ....;lhin 11>8 di&OlaliDn 01 Your go'o'etnlllg body. FurthennDl'B.
<br />nCllli.ng hereio ~hllll t.aquilll YOOlO see!!. appropria1ions sufficient to pay LNsa Paymanls and ot~er amounls due in Your nexl fi,cal period_ You and W~ horeby agree fh8l Your
<br />obllgatians under t~l~ LeA5I! will b8 s~llsfled only out of Your ~ultoot re\lenues In the e.....nt Y(Jur goveming bod~ la~s 10 appropriate su1ficlenl funds to pay oil Lease Payments I
<br />and other ameunt~ Que and 10 baccrrlollue In YOUf nf!x1 fiscal period, Yilll f1'(ly, sunjet11D the 1erm& hereof. lermln81e lhis Laa&oll as DlIhD la$l day of ll\e Ii$ClI! pariDd fDr whiCh
<br />appmpriations _'0 received (an "Evenl of N"".appropriation~). YilU agree to deli~r ootiar 01 an Even! of Non-apprDpriation allcallt 30 d3ys prior 10 11>8 ..nd or You~ then.
<br />~urTenl fi!iG!!1 paried, r)( if an Event 01 Non-approp.rlalion hB6 no! DCCulrclll1y Ulat eat(,. promplly upon Ul0 OCCUr/eBDI! of any such Evant 01 Non-ailp"oprl~n and 10 return 1I1~
<br />Equipllle 01 pUlBuant 10 Section 13 on or befonr tho! ol'Irccll~e date of MrmillDon.
<br />
<br />16, TAX RE.PRES~NTATiONS AND COVENANTS, You hereby rtlpl8sanl wal1'anl ~Ad OOVtInanl unlo Us tllat: (~) Yoo are a 6tala ar poli~cal subdiVision lnereof within Ih8
<br />meanin~ 01 Sec1101'l103(c) 01 lhe Code end will da Dr call... 10 be dOI'loe lllllhings neCeSll;ary to pl'Cllel\/e ~nd kaep in lull.Dral and elfect Yoor elCisbBn.oa a6 such, (b) You inle<'ld lnet
<br />~hi~ lea5a not COnsUMe II "Irua. laase for federal incoma tall pYrpIlse alld'lhal YDU b'? considarlld the owner nrlhe Equipm8nl lor federallll<<Jrne lax PUrplJSI!I6. (c) You will not
<br />l~ke any aclion tha1 WO~ CBU6e ths inlerest oompcnP.ftt of lease Pa \'l'l"ltmts 10 be or 10 becoma i naligible for lile e~r.lusion flDlll Our gross ;I,come for fedllllll inl;(lma taK purpOMlS,
<br />f>Or ",ill You omit lu lake or cause tD be ta Ic.t:n, in a Ilmely manner, any aclion w~ic~ omis~illll would Cilll1l0 ltle Inleregl ~llant of L8iJsa Payments 10 tIe or tI;J becmma inaligiblO
<br />101" the exdusion from Our groo;s in cOllie Nr leder~1 inr.cme lax pulpOsss, ld) You h3~e not craat.ed or C&lallllshed. and dD nol expaCl. to cre~1e or establish, eny 5inki~ tuncl 01/
<br />'i.ni'~r fund (i)lhat is r~3sonably expacted t~ bc u~d 10 P8Y tI1e Le.asa Pa~ITICnts, Of (II) mat may be used solely to IlreV1!<l1 a defaull in the I'~yment 01 Lease Peymenl&. (allt.
<br />plllcee~ of !hi5 le~se "";11 nOl be uY!d 10 ,aimbun:e You lor expenditull!& mada ITIOr~ lIlall 60 d",Y" prior to th8 Commer>cemenl D8le Dr. if earti...., 1II0re Ulan 60 days prig!" m .n~
<br />oNidal aCllor- 18.en tIl evid.ence an Inlentla finance. {l} You Will not permit 'he EGuipm~ nl \0 be u,ed. direclly or i ndirectl)', lor Q Jlfiv~'e bU5iness U&tl" wilhin lhe moa nlng of SeClinn
<br />14 I of the COde. and (g) You ag NQ to comple1e in a timely mannar an Inlollfl3lioo 1I!90ning relum {either Form &038-G or FUITTl 6036.GC. as 8PPrQpria1e) with respac\ to 1.I'IIs
<br />Leese a.~ ftlquirad.b'y the CClde, If you brlMM:ll any of the ODvenanm containad in this Section 1G. tI1a in181llS1 oomponenl of lease Pa)'lT18nlS ma.y beCOillf: Illcludible in OUI !ll'DIi&
<br />inclJf'l'lC for ferlellll i.~DOma 1i1X pYrpo5P.s In soch svell!, Vau agree 10 (l~Y prompUy aft8r any such delerminatiDn 01 lallabillty and on e",ch Leasa Pa~manl date lIlOrea1ter 10 U~ an
<br />additio,,,,1 B,no unt dslermina<:l b~ IJ~ r.o oompen6lilN /,)(; l<y (fno ~.~.~ .n1_~.JCh e.~.r.
<br />
<br />17, ADDmONAL ~f:P~~SE.NTA noNS. WARRANTIES AND COVEHAI'IT5, h'l Mdlll11n t.o 1ha ""her rcptcsentlltlon.., WananH6 BOO covenanls mad<! by You ll"et forth in this
<br />base, YOII ~ereby raptescnl watrant and covenant u"to Us ttlel: [a) You have t1111 power ~nd Au1toDril~ und..r i1llpliCilblt I;jIw ~ enter inlD 1M Lease and thos lrans.aclions
<br />CDnWmpl;illed neretly and 10l>M()o1Il aIL of Yaur obligations nereunder, (I>) You have <:Iu:ly auU.,rlzeG ~e e2eCUlion and deliver~ 01 this Lellse b~ approPl'ialia o<<icial action 01 'Your
<br />Q'waming body ~ntl You hav8 l?llalned euch oIhar a.\Jlhoriz3~ons, con~enl$ and/or apprDvals a.a ~re neca6Eoary to t;Q"~tll11m~hl 11'1S ~ee$e. (c) alllE!fllll and other requircmerots
<br />havs bc.en mel, 1111(1 plOc8duI'CS h;1ve ocx:~,lIred. ID ",ndBl' \!lis Lease /lnfcroeabkl a~in't YOu in aCCQrdlll\O!l with its 19rm&. and You have oomplled v.iln ~uch public bidding
<br />requirenlenr~ A" "'-y be a pplic<lble 10 lhis leasa and the lr~'l~ctloos conlP.11T-llaled ~alDby, (dllAe use and Of)aration 01 tll~ Equ<pmenl1s e,gen1iallo Your plDpar. eftici6nl 3.1d
<br />eoonomlc gcwemm~ntal C'i'~l'abon. end (e) upDn Our rOQue$!, You will provide Us w;lt1 a ro~y of Your curl1!nt finandal ,'alelllel'llll Wilnin 1 SO dH)'6 Bltl!f 11>8 end of 8iIch. liscal
<br />pc~od '-You h6reby acknolNtedg.that aa.ch of Ih~ repre,enladon5. w~rr~ntilll al'ld co","n.nt!l mada by YOu In SeCIIO/l'J 15." and 1J and sl~whar6 in ttlil Lease.~
<br />boaing m.,.rlally ral~d upOn by Us ~n .nt.rinll inlO thllll.'as~-
<br />
<br />18. MISCELLANEous. Tills lea.lle may be t1~..uJlcd in OOUnlef?llr1s, earn of wh.idl sllall be oeem..d an original, bul aJI of whlc:lltoge\~er snBII constilula the same documen t.
<br />You "",lc.no'Ntedgol tMt You have ~ivc() a coPy of It'lis leasa and agccc \hot a f~C~imila Dr other copy containing Your fa.~ed or copilld sign.a!Ure shall be as enfoICe6ble ~s h
<br />~iool e~eo..rled L'?asa_
<br />
<br />Le$see:
<br />
<br />By~ X
<br />
<br />P,inl n~ms:
<br />
<br />Attest:' ~ X
<br />
<br />"L. "4
<br />
<br />CITY 0 F tAN M"RCOS
<br />
<br />~1(01J
<br />~ ,
<br />,..\>J,"'.,J..~\ ~, ~ ~'.J.\'':l
<br />\
<br />
<br />Tille:
<br />
<br />Oata: kl -Let 1.L.l
<br />tl\'\ I\().\\\.l,-{(
<br />J
<br />
<br />Tille:
<br />
<br />'lS~811 ~1 Dab. Ilo"vOiJ1ll!l!lse I Stare & i.LJCa1 Ga.'lr TlIl<-bel1"lll I T8lOa& ; (14.06
<br />'~"~ ;:V:'I
<br />
<br />
<br />By'
<br />
<br />Wells FBrgo financial L.e"tng, Int_. Des MoillBS. Iowa
<br />/ l/ J _J 'J.. L-
<br />
<br />
|