Res 2000-073 - Laserfiche WebLink

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4. Basic Rent Pavrnent and Pavrnent Date: Semi-Annual pavrnents. After balance has been paid in full, the City may exercise the purchase option for $1.00. (2-year amortization) See amortization schedule. 5. Invoices for Rental Pavrnents. All invoices for rental payments under this Lease shall be sent to Lessor at the address first above written unless and until Lessor otherwise notifies Lessee in writing. 6. Purchase Option: Provided that (a) an Event of Default (or an event or condition which, with the lapse of time or the giving of notice or both, would constitute an Event of Default) does not exist; (b) this Lease has not previously been terminated; Lessee shall have the option to purchase all (but not less than all) of the Equipment effective as of the last day of the term of this Lease under the following terms and conditions: Lessee shall have the right to purchase the Equipment, on an "as-is", where-is", "with all faults and defects" basis, without representation or warranty of any kind, for $ 1.00 , provided that such right is further subject to payment in full of the purchase price on or before the expiration of the final renewal term of this Lease. Modification to Agreement: All terms and conditions of this Lease shall be as set forth above and in the Agreement, t;;A~ept (if additional space is required, attach an Addendum to this Lease): NjA 8. Conditions Precedent: Lessor shall have no obligation to purchase the Equipment and to lease the same to Lessee hereunder: ( a) if the actual cost of the Equipment exceeds the original cost thereof set forth hereinabove; (b) if there exists any Event of Default or event or condition which, with the lapse of time or the giving of notice or both, would constitute an Event of Default; or (c) unless prior to the Acceptance Deadline, Lessee, at its expense, shall have delivered or caused to be delivered to Lessor all of the documents required under Section 3 of the Agreement and, in addition, Lessee, at its expense, shall have fully satisfied all of the following additional conditions precedent (if additional space is required, attach an Addendum to this Lease): N/A 9. Reaffirmation: By their execution and delivery of this Equipment Schedule, the parties hereby reaffirm all of the terms and conditions of the Agreement, except to the extent, if any, modified hereby. 10. Counterparts: The Equipment Schedule evidencing this Lease may be executed in more than one original counterpart. However, only the counterpart designated below as "Counterpart No.1" shall evidence the monetary obligation of Lessee with respect to this Lease. To the extent, if any, that this Lease constitutes "chattel paper," as that term is defined in the Uniform Commercial Code of the State, no security interest in this Lease may be created or perfected by the transfer or possession of any nterpart hereof other than said "Counterpart No.1." cR HilS IS COUNTERPART NO. ~ OF ~ COUNTERPART ORIGINALS. IN WITNESS WHEREOF, this Equipment Schedule has been executed, delivered and accepted this 11 thday of April 2000. LESSOR: HOUSTON COMMUNITY BANK, N.A. LESSEE: CITY OF SAN MARCOS, TEXAS By: Title: ~~ President By: Title: ~.~A fi&:~ Ci y Ma ger ~ Countersign". $\ nd Attest:, ,,) '. / Bill . l-~ P'" V y: ';[j 4 ,If/1""}' L ' ':;'/ )1Vi'1f\1U ..' Title: C y Secretary 2