|
<br />134
<br />
<br />o
<br />[I')
<br />t:J
<br />_w
<br />w..~,/!2f
<br />Q..
<br />
<br />Lessor desires to lease said equipment to Lessee for the consideration
<br />herein set forth.
<br />
<br />NOW TnEREFORE, Lessor, for the consideration hereinafter stated, and
<br />sub j ec t to the terms and condi ti ons here of, doe shere oy lease and let the
<br />above dexcribed equipment unto Lessee for a period of one (1') year, begin-
<br />ning on tnis the 22nd day of June, 1955, and terminating on the 22nd day
<br />of June, 1956.
<br />
<br />The total consideration for this lease emntract, is the sum of Seven
<br />Thousand Three Hundred Seventy and 60/100 ($7,370.60) ~ollars, of which the
<br />sum of One Thousand Three Hundred Seventy and 60/100 (.,,1,370.60) Dollars
<br />has heretofore heen paid in cash to Lessor by Lessee and the entire balance
<br />I and remainder of tho consideration for said lease, that is the ScL'l1 of I
<br />Six Thousand Dollars, ($6,000.00) is evidenced by one promissory note of
<br />even date herewith, signed as maker by the City of S~n Marcos, payable
<br />to the order of Dulaney Service Company, bearins interest at the rate
<br />of four (4%) per cent per annum, the pri,ncipal payable in mon thly ins tall-
<br />ments of Five Hundred (~$500.00) Dollars each, the first such installment
<br />to fall due and payable on July 15, 1955, and subsequent installments
<br />of principal, each for the Slli'l1e amount, to fall due and payable on the
<br />15th day of each succeeding month until pay.ment in full of this note. On
<br />each principal installment payment date. all unpaid matured interest
<br />shall he paid in addition to the said installment of principal.
<br />
<br />Lessee acknowledges the receipt of said equipment, in good condition,
<br />and upon the termination of this lease, unless Lessee exercises its option
<br />to purchase the same, Lessor shall Q) entitled to the possession of'
<br />the same, in good condition, ordinary wear and tear excepted.
<br />
<br />Lessee shall have the right to make any reasonable use of said equip-
<br />ment and at its own expense shall make all necessary repairs and re:?lace-
<br />ments. Lessee agreos that Lessors shall not be liable in da'l1ages to any
<br />persen, firm, or corporation arising out of the use and operation of
<br />said equipment by Lessee.
<br />
<br />Lessor hereby gives and grants unto Lessee, the option to purchase
<br />said equipment from Lessor, in its then condition at any time during
<br />the term of this lease, upon the pa"@ent of ~~e said sum of $7,370.6D, I
<br />with interest at the rate of 4% from the date of this contract, until
<br />the date of said purchase, and upon said purchase price Lessee shall
<br />have credit for all payments, principal and intersst, theretofore
<br />made, includinG the said cash payment of :,)1,370.60, the receipt of which
<br />payment is hereby expressly acknowledged, and all payments made upon
<br />said $6,000.00 note.
<br />
<br />The consideration payable to Lessor under the terms of this Agreement,
<br />may be assigned by Lessor.
<br />
<br />IN WITNESS 'ffrlEREOF, the parties hereto have, on this 22nd day of
<br />June, 1955, duly executed this Lease Contract in triplicate, Dulaney
<br />Service Company signing by R. T. Dulaney, as Partner, and 'l'he City
<br />of San Marcos signing oy the Mayor, Frank E. Dietterich, and the
<br />Secretary, Mrs. Ann Ziemke, upon resolution duly made authorizing the
<br />same, and duly entered in the minutes of the City Council of said
<br />City of San Marcos, Texas.
<br />
<br />DULANEY SERVICE COMPANY
<br />
<br />EY~Js/_ J. H. Dulaney_
<br />Partner
<br />
<br />CITY OF SAN MARCOS, TEXAS
<br />
<br />I
<br />
<br />ATTEST:
<br />
<br />BY: Js/ Frank E. Dietterich
<br />Mayor
<br />
<br />Is/ Ann Ziemke
<br />Secretary
<br />
<br />Fa llowing is a copy of the no te:
<br />
<br />$6,000.00 San Marcos, ~.~;:;:as June 22,_195'.)
<br />
<br />In installments, for value received, waiving grace, protest and suit,
<br />the City of San Marcos promises to pay to the order of Dulaney Service
<br />Company, at the offices of the. First Nati.,~mal Bank in San Marcost Haysith
<br />county, Texas, the sum of Six Thousand ($b,OOO.OO) Dollars, toge her w
<br />
<br />interEt
<br />
|