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Home My WebLink About83-83 RESOLUTION4 • RESOLUTION NO. ic:3--aiL3 A RESOLUTION AUTHGRI'LING"THE MAYOR AND CITY CLERK TO EXECUTE AN EQUIPMENT RENTAL AGREEMENT WITH WILLIAMS FORD TRACTOR AND EQUIPMENT CO. FOR MOWING EQUIPMENT. BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF FAYETTEVILLE, ARKANSAS: That the Mayor and City Clerk are hereby authorized and directed to execute an equipment rental agreement with Williams Ford Tractor and Equipment Co. for mowing equipment. A copy of the agreement authorized for execution hereby is attached hereto, marked Exhibit "A", and made a part hereof. '---_PASSED AND APPROVED this 5th day of July, 1983. -14k i! it v " s eAR a, rte. sb . 44. y c0 ., r.' • ..4 7ATffST By: • r ,APPROVED: Mayor his AGREEMENT, made and entered into at Fayetteville, Arkansas this 1 day of June 1983 by and between Williams Ford Tractor & Equip. Co. Fayetteville, AR 727021346, hereinafter called LESSOR, and City of -Fayetteville, Municipal Airport of Fayetteville, AR 72701 ,hereinafter called LESSEE; WITNESSETH: That in consideration of the payments and rentals hereinafter provided for, and of the terms and conditions hereof, the Lessor hereby agrees to lease and does lease to the Lessee, and the Lessee hereby agrees to lease from the Lessor, the following described equipment belonging to the Lessor, to wit: EQUIPMENT LEASED (Kind of Machine, Make, Model, Serial Number, Description) 1 new Ford 1300 tractor, sn 304887 1 new Ford 915 mower, s/n 1139 (See attached sheet dated ,1inP 1, 1983 concerning (Lessor's Assignment of Manufacturer's Warranty (:te Lessee and the Non -Appropriation of Funds Clause. Total Value $ F.O.B. Lessor's place of business, or Above equipment to be used in grounds maintenance operations on Fayetteville airport at or near Fayetteville Washington in the State of Arkansas (Town) (County) TERM OF LEASE: The term of this lease shall be for a period of twenty four ( 24) months , beginning with the 1 day of June , 1983 and terminating the 31 day of May 19 85 Equipment delivered to Lessee: Date . , 19 Time a m -p m Hour meter reading or mileage Equipment returned to Lessor: Date , 19 Time a.m.-p.m. Hour meter reading or mileage RENTAL 'RATES AND PAYMENT: The rental rates set forth in this contract do not include sales, use or occupational taxes. •If and when such taxes are incurred by law, these amounts shall be added to the rental payments due under this contract. A. If this equipment is leased on a monthly basis, the Lessee agrees to pay for use of the equipment, rental as follows: $ - payable with order and covering first month's rental, receipt of which is hereby acknowledged by Lessor; and the balance payable in advance on the day of each month in - installments of $ - each commencing with the month of , 19 B. If this equipment is leased on an acreage, ton, mileage or any basis.other than time, the rate shall be $ per . Rental under this lease shall be payable $ with order plus deposit of $ , receipt of which is hereby acknowledged by Lessor, and the balance of $ becoming due and payable . , or upon return of equipment to Lessor's place of business. If this equipment is leased on a quarterly or seasonal basis, the Lessee agrees to pay a total of $ 3000.01) in rental as follow: $ 1 500.00 - payable with order, receipt of which is hereby acknowledged by Lessor; and the balance payable in 1 installments of $ 1 500.00 each due and payable on 6/1/84 Rental payments shall be made to Lessor at Lessor's address above set forth except that, if Lessee is notified to do so by Lessor or his assignee, payments shall be made to such assignee.. ADDITIONAL RENT: It is contemplated that the equipment will be operated for not more than hours in any one day; hours in any one week; hours in any one month and Lessee agrees that he will pay additional rental at pro rata the applicable daily, weekly or monthly rate, for each hour the equipment is used in excess of such time. If equipment is leased for more than thirty '130) days, the additional rent for excess hours shall be paid on the first day of the month following such use, which rent shall be credited on the monthly installments of rent due hereunder in the inverse order of their due date. If there is an hour meter furnished, Lessee agrees to keep it connected to the equipment and in good -working condition at all times, and is to be used as the conclusive basis of the number of hours of operation. PRIVILEGE OF PURCHASE OPTION: Lessee is granted an option to purchase the equipment leased hereunder for the sum of • $ . This option must be exercised on or before - 19 and the balance due paid in cash. Option to purchase shall not be deemed exercised until Lessee's (buyer's) written notification to that effect is received by Lessor (seller). All rentals previously received shall be credited at ' to apply on the purchase price. This lease must be in good standing before the option can be exercised, and the option is nontransferable. No alteration or modification of this Lease is valid unless in writing and signed by the parties hereto. Lessee acknowledges receipt of a signed copy hereof. ALL TERMS AND CONDITIONS STATED ON THE REVERSE HEREOF ARE A PART OF THIS CONTRACT. IN WITNESS WHEREOF, the parties hereto have on the day and year first above written hereunto set their hands and seals. BY SIGNING THIS LEASE; LESSEE AGREES TO THE TERMS' AND CONDITIONS SET FORTH ON THE FACE AND REVERSE SIDE HEREOF.'.ANY;DI£FERENT OR ADDITIONAL TERMS, WHETHER WRITTEN OR -OTHERWISE, ARE HEREBY OBJECTED TO AND SHALL HAVE NOrLEEGAL FORCE OR APPLICABILITY WHATSOEVER. LESSEE-Cityao-'47-Re t t-viile, Municipal Airport Accepted and Approved 6/1 - 19 83 By, By. Wit ess,rn Witness V-- Phone No '>w`• ^"�`, .LESSOR Williams Ford Tractor & Equip. Tractors Equipment Williams Ford Tractor& Equipment Co. Box 1346 Fayetteville, Arkansas 72701 Ford Tractors New Holland Equipment NEW HOLLAND Phone 442-8284 June 1, 1983 To Whom It May Concern: Regarding lease agreement dated June 1, 1983, between. Williams Ford Tractor & Equip. and City of Fayetteville on new Ford 1300 tractor w/ Ford 915 mower: Lessor assigns manufacturer's warranty to Lessee. Lessor: Williams Ford Tractof& Equip. Co. XVi�%4irrc-,J Non -Appropriation of Funds Clause Lessee's obligations to pay any amounts due for the, year succeeding the current year are contingent upon appropriation or approval of funds for that purpose by the Fayetteville Board of Directors. Therefore, Lessee may terminate this Lease Agreement and its future monetary obligations hereunder effective as of the end of any succeeding year (the "termination date"). All obligations of Lessee to make payments due after the termination date will cease and all interest of Lessee in the Leased equipment will terminate as of the termination date. • • FAYETTEVtLLE, ARKANSAS P.O. DRAWER F TO: City Board of Directors DEPARTMENT OF FINANCE MEMORANDUM FROM: Sturman Mackey, Purchasing Officer DATE: June 15, 1983 72702 (6071521-7700 SUBJECT: Equipment Rental Agreement -William Ford for 1, Ford -1300 with Ford 915 Mower The attached rental agreement for mowing equipment for the Airport requires that the Board adopt a resolution authorizing the Mayor and City Clerk to execute the agreement because the total amount of the obligation exceeds my authority for expenditure of funds in excess of $2,500.00. This item will also have a budget adjustment forthcoming for your approval for the first year's rental of $1,500.00. The agreement is for two years but is conditional upon the non -appropriation of funds clause shown orr the 'attache& sheet:- tom`