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46 N{ultiple Disbursements LEASEPURCHASEAGREE~ŒNT LESSEE: THE CITY OF SAN MARCOS Name of Municipality or Public Entity 630 E. Hopkins Address r- I j San Marcos Hays Texas 78666 City County State Zip T elefa:x: # (512) 392-4612 . ' This '1...ease Purchase Agreement" (the "Lease"), dated as of J u n e 11 , 199 L establishes the general terms and conditions under which AMERICAN BANK (the "Lessor"), whose address is 1600 Smith. P.O. Box 847. HoustoQ TX 77001-0847 Telefax Number (713) 951-7172, may lease the equipment and other personal property to Lessee set forth in the Equipment Schedule attached hereto as Exhibit" A" and incorporated herein by reference (the "Equipment Schedule"). . 1. LEASE. By execution and delivery by Lessee to Lessor of this Lease, and upon acceptance by Lessor and satisfaction by Lessee of all conditions precedent set forth herein, Lessor shall lease to Lessee, and Lessee shall hire :trom Lessor, the equipment and other personal property described in the Equipment Schedule, all on and subject to the tenns and conditions set forth therein and herein. The equipment and other personal property described in the Equipment Schedule, together with all replacement parts, additions, modifications, repairs and accessories incorporated therein and/or attached thereto, is severally and collectively referred to herein as the "Equipment." This Lease shall not be cancelable or tenninable by Lessee except as provided I 'herein. Lessee hereby authorizes and empowers Lessor to unilaterally amend the Equipment Schedule :trom I 1- time to time by inserting infonnation more fully identifying the Equipment or any part thereof and irrevocably constitutes and appoints Lessor its true and lawful attorney-in-fact for the purpose of executing and filing ITom time to time in Lessee's name such financing statements describing the Equipment or any part thereof as Lessor deems appropriate. 2. DELIVERY AND ACCEPTANCE OF EQUfPNŒNT. Upon completion of each item of Equipment and delivery thereof (and, if such item of Equipment requires installation, installation of such item of Equipment), Lessee will promptly inspect and test the Equipment and, if the Equipment is in good order and confonns with any applicable purchase order, Lessee will promptly accept delivery of the Equipment on behalf of Lessor and shall forthwith execute and deliver to Lessor a duly completed Certificate of Acceptance in fonn and content acceptable to Lessor, which shall set forth, among other things, the date that Lessee accepted delivery of the Equipment on behalf of Lessor (the "Certificate of Acceptance"). Upon Lessee's acceptance of the Equipment, Lessee's promises and covenants contained herein become irrevocable and independent. 1