Res 1997-094 - Laserfiche WebLink

Home Browse Search

L¡5q Location of Equipment (if additional space is required, attach Schedule A.) Public Works Department-Water Distribution Division A. 1. 630 E. Hopkins San Marcos Hays TX 78666 Address City County State Zip B. 2. 720 River Road San Marcos Havs TX 78666 Address City County State Zip 2. Acceptance Deadline: December 31 , 19~. , I , 3. Term: The initial term of this Lease shall be for a period of ~ months and shall commence on the date that the Equipment is accepted by Lessee on behalf of Lessor (the "Acceptance Date") and teillÚnate at the end of the fiscal year of Lessee in effect on the Rent Commencement Date. Thereafter, this Lease will be automatically extended for two (2) successive additional one year renewal terms, and for a final renewal term commencing March 10' 1999, and ending March 9. 2000, unless this Lease is earlier teillÚnated as herein provided.. 4. Rent Commencement Date: The first day of the month immediately following the Acceptance Date. 5. Basic Rent Pavrnent Date: Semi-Annual principal and interest payments in the amount of $10,203.38 beginning 9-9-97, then 3-9-98 and semi-annual thereafter until matmity. After balance has been paid in full, the City may exercise purchase option for $1.00 (3 year amortization) 6. Rent: a. Basic Rent: For the term of this Lease, Lessee shall pay Lessor Basic Rent of Semi-Annual principal and interest payments in the amount of$10,203.38 beginning 9-9-97, then 3-9-98 and semi-annual thereafter until maturity. After balance has been paid in full, the City may exercise purchase option for $1.00 (3 year amortization) plus applicable sales tax, if any, payable on each Basic Rent Payment Date. : If the payment date during the term of this Lease is not a business day, Basic Rent shall be due - on the next subsequent business day. Unless otherwise expressly agreed to in writing by Lessor, sales tax on each rental payment received by Lessor under this Lease shall be due and payable by Lessee to Lessor on each Basic Rent Payment Date. b. Overdue Rent: Lessee shall pay to Lessor interest at the Overdue Rate on all Basic Rent payments not received by Lessor on or before the Basic Rent Payment Date. 7. Invoices for Rental Payments. 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. 8. Purchase Option: Provided that (a) an Event of De fault (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 2