Res 2010-067 - Laserfiche WebLink

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Amendment No. 1 to Governmental Equipment Lease - Purchase Agreement (Fur use with "texas Lessees in tax- exempt transactions) WHEREAS. Caterpillar Financial Services Corporation ( "Lessor ") and the political subdivision of the State of Texas named below ("Lessee) are parties to that certain Governmental Equipment Lease - Purchase Agreement (the "Agreement "'). Transaction Number 1740196. and WHEREAS, Lessor and Lessee have agreed to amend the Agreement as provided herein. NOW THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound. agree as follows: 1. Capitalized terms used herein and not defined herein shall have the meanings ascribed to them in the Agreement. 2. Paragraph 4 of the Agreement is amended and restated in its entirety to read as follows: ANNUAL RIGHT OF TERMINATION. Lessee may terminate this Agreement as of the last day of any calendar year during the term hereof by giving Lessor sixty (60) days prior written notice of its intent to terminate this Agreement (although the failure to give such notice shall not affect Lessee's right to terminate this Agreement as provided herein). In the event Lessee gives to Lessor such notice during the term hereof. Lessee shall, no later than the last day of such calendar year (the "Return Date "). return to Lessor all. but not less than all. of the Lquipment, at Lessee's sole expense, in accordance with Paragraph 18, and this Agreement shall terminate on the Return Date. Thereafter. Lessee shall not incur any additional obligations hereunder, provided, that, Lessee shall pay all Lease Payments and other Payments due prior to the Return Date and, provided further, that Lessee shall pay month -to -month rent at the rate set forth above for each month or part thereof that Lessee fails to return the F(juipment. 3. Except as amended hereby. the Agreement remains in full force and effect and enforceable in accordance with its terms. This amendment set forth herein shall be effective as of the date hereof. IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their respective officers duly authorized thereto as of the date of the Agreement set forth above. City of San Marcos Caterpillar Financial Services Corporation By Goc By: ckk rt 4 III Name: Laurie Moyer Name: Charles C. Shupe uredll Mjtojkg er Title: Interim City Manager Title: / Date: t I Z/ l U Date: lL ( r I t o e Fwm:'n GU \T�AV NuN .1��•1W �filn 1. 11 P \M "T