HomeMy WebLinkAbout47-84 RESOLUTIONRESOLUTION NO. 47-84
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_
•
A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE A LEASE AGREEMENT WITH WILLIAMS FORD TRACTOR
& EQUIPMENT COMPANY FOR PARKS' MAINTENANCE EQUIPMENT.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
That the Mayor
directed to execute
Tractor & Equipment
A copy of the lease
is attached hereto,
and City Clerk are hereby authorized and
a lease agreement with Williams Ford
Company for parks' maintenance equipment.
agreement authorized for execution hereby
marked Exhibit "A", and made a part hereof.
PASSED AND APPROVED this 3rd day of April, 1984.
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APPROVED:
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Thiv AGREEME.3e, made and -entered into at Fayetteville, AR this 7tez •
biwirnd betweeti
I illiams Ford Tractor & auip CO'
oe
of Faydtteville, AR 727021346 hereinafter called LESSOR, and
City of Fayetteville
of Fayetteville, Ail. 72702 hereinafter called LESSEE;
WITNESSETH: That in consideration of the payments and rentals hereinafter provided for, and of the terrns 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
.0,4.,, „ .„,-• EQUIPMENT LEASED (Kind of Machine, Make, Model, Serial Number, Description)
1. used Ford 530A tractor w/ Rhino Saturn 8 cutter $3500.00
1 new Ford 1500 tractor 45" rear mower 2000.00
1 new Ford 1500 tractor w/51 belly mower 2000.00
1 new Ford 17hp Lawn & Garden tractor w/ 48" mower 1250.00
Total Value $
'F.O.B. Lessor's place of businesi or ' " t
'Above equipment to be used in "- - maintenance operations cm city property
at or near IFayettevjlle -;^“..-if-Vt ( .-Wash. ".-• ----""- in the State of Arkansas
- ..;,.. (Town) ivi.,::..4.2., . '
. wiCounty) . 4.11i 46,ZI',,,, ct• .....k .6 • 0 , ac÷-•:•,""•• 1. ...cc -------
-- lz,, a . .
' . IS* 1„
TEtwenty four; (24) Months i . . -
F LEASE. he tgrnitf tills lease shall be for a period of
- beginning with the
day ofrm
and teinating the '124c day of " -
2.
; • N.'
E uipment delive d to Lesseei Date "'''' r'Y''&19 ..." Time '&m -p XHour meter reading or mileage
-"-1.-Equipment returned to Leon Date""'%- '. t'44;'e44*.‘19 I"'"-ime 71t; 9 4?.. filmn. Hour meter reeding or. mileage
7RENTAL RATES AND PAYMENT: The rental rates set forth in this contract do not include sales. Use 1-ol 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 • monthly basis, the Lessee agrees to pay for use of the equipment, rental as follows: 'Z." . •.4-
.!g payable with order and covering first months 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
4 •
191.• .0.1 ,
)
. 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 $
. . . .
• — • . ... annual r • k . '
. ;becoming due and payable or upon return of equipment to Lessor's place of business. .
.C. If this equipment is leased on mcpsaummiskbasis, the Lessee agrees to payi total of $ 436.00 17,500.00 in rental
as follow: $ I' 8750.00 payable with order, receipt of which is hereby acknowledged y Leskon and the balance payable
r in ern P installments of $ 8750.00 each due and payable on 'W/ 4/ /4 4/7/P3-#.—
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 (30) 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
$ e---- . 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). AU 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 DIFFERENT OR ADDITIONAL TERMS, WHETHER WRITTEN OR OTHERWISE, ARE HEREBY OBJECTED TO AND
SHALL VE NO LEGAL FORCE OR APPLICABIITY WHATSOEVER.
LE 9
y. r yev, Le Ai
dibi ,Mayor Accepted and Approved
.., . 19 n
Cit C
Witness
AtiQA46
4'4 c_f
Lir a n1 01,4c4
Phone No. 77c0
FORM FER 529 (REV. 1981) ALL RIGHTS RESERVED SY NATIONAL FARM & POWER EQUIPMENT DEALERS ASSOCIATION ST. LOUIS MO 63127 PRINTED IN U.S.A.
LESSOR Wi1iinq
Fnrri Tr ar tor Ft Fcpiip.
• •
1
.:
• RETURN OF EQUIPMENT: Lessee agrees, at the expiration of the . • LIABILITY AND LNSURANCE: Lessee shall be Liable for all expenses,
„tit_rm hereof orisooner termination of this lease, to return, transports; ......: personal injury and property damages and claims arising out of its
. - tion costs -prepaid. all of the Equipment to Lessor at the place of business-, tpossession, operation or transportation of the equipment herein de-
. .,
of Lessor above stated'in the same operating cendition, order, repair ..n1,--- scribed, and shall hold Lessor and its assigns harmless therefrom. The
it...• , and appearance at when received (ordinary wear and tear excepted) ,_ Lessee further agaves to protect the Lessor with full liability insurance
• . and free of all ERA and encumbrances. - - ,t.,f. .• -,,,,":. -;_,---t,_:• -f...t,,--,:it.:..„."coverage, such insurance to cover loss, injury, death or damage .
-- LOSS OR DAMAGE The Lessee agrees to pay the Leis•or- for, all lesS ;cit.-, occassioned or caused by or in connection with the equipment; and
• and damages to the equipment arising fromany cause whatsoever that .r„..at such insurance shall be in an amount and issued by an insurance -
may occur during the life of this lease. R is agreed, by thetpartieiheref,1:.., t.,.company satisfactory to Lessor. and shall further protect Lessor against
be used in case of arbitration of adj,;-::-...iltublic liability of any and every kind -All such insurance shall contain _
: that the. value as hereinbefore stated is hereby Accepted as the true
an agreement of the insuring company not to cancel the same until- at
. ::- .value and shall ustment- In -Making - z.:::;-.L7-p
v:Ill•Auch'adjustinent it is understood that no r-eidals thefetefore paid of.l.t.:2;'-.Je
, eat:Acts-1101;days% notice; totLessortAnd its assigns.. Lessee,shall -.. 4.
"•-•:•-dueishall apply to the payment of -such loss, It is. furtherunderstood: ._ deliver tii Lekeor evidence of said insurance.: -$"'.2l- •l 'ID- : • .. - '
fj ::::-:,and 'agreed tbat inmaking any adjustment fortes's Pr -damages -Se equip---:.-lSINSURANcEl LeSiee shall .keep the equipmentinsured against all
, I-7t-t"ment, Lessee shall be credited with the amount of iiikerancepayment .."..lr.'-fiskeof. lois or damage by fire and-Meh.other risks as are covered by ,; •
-
t . received" by Lessor -underpolicies:it an insurance recover ii-,...2:1-5lenderSementrn
commonly known as SuPplemental or extended coverage -: • ,:
... ; insu-ranfe 'A
...:-.7..ti,"; is effected thereunder. Lessee. in addition-to-liabll.,ity for -loth of daniage-Jril fth. net leis -than the market value of the equipment and shall carry
--..: -.: herein 'otherwise provided for„ --shall be liable for, all loia.and damage
.. . „.,-.....pubhe liability •and' property damage insurance -revering the equipment- D-.4%••• .
;to said equipment caused by strikes. not and eivitcominotion-a"rising•in the amounts Of not less than $200,000 In respect to bodily injurY of,••••.;l•;'..
.. from any causnwhatsoever.•1"-kR,:ttl;-..."--:,..,Dk,::-w75,,,t--t.--,,f...death to any one person, riot less than $500,000 in respect to any one ...:-•
1.,,INSPECTION: Lessee shall. Whenever requested/advian'Lelior-of the-. ..,-..;-. accident, and not less than $100,000 in respect to property damage. All • ..",..
e --
"-exact location of the equipment. Lessor or its representatives may, for. ;such insurancshall insure both Lesser -and Lessee. The Lessee may .-",
i.".
-i the purpose of inspection, at all reasonable times, enter; upon any job, -effect such coverages under its blanket policies. All such policies'shall .:
..• building or place whereithe equipment is located and may remove the-I:Ch.-be written; by.rompanies presently insuring the Lessee or other -
r r
!lc:Slane without notice to Lessee, if the equipment iirinthe opinion of theele01lPa1i05 reasonably.,satisfactory._ to the Lessor and certificates
•Lt....Lessor. being used beyond its- capacity or IS anyManner.irriproperly7.:::
-, :::showing such coverages to be in effect shall, be furnished to Lesior
n. . . ....
•...- tared for or -abused, or in the. event of terminatibh or breach of thin,-;?.uporequest-Each insurer.shall agree; by upon the
.-- - 1.,./.7.-c
ijr/ : .jr-I .: lease. .t.. . :;").4- --a -. • - - .r.........- •--.D.- --...-...-5- -....:....".....ti.tm„. :”.„ t:,.ci:,_. ,...,::..t.:„.2._.,„2-• certificate or. certificates issued by it by independent instrument
„:-....--,...z...:...WARRANTY: LESSEE. ACKNOWLEDGES THAT .EACH ITEM. OF .E.,,-?;:.cfurnished to Lessor. that it willgiveLessor thirty (30) days' written -
is • ........lite:::::EQUIPMENT LS• OF -A -SIZE, DESIGN AND CAPACITY •SELECTED it.,..:-... notice before. the policy in_question shall -be altered or cancelled and - -•!...,
!--.: •-t: ,4,..&-l.;.- BY LESSEE AND THAT THE SAME IS SUITABLE FOR LESSEE'S.;:ttl_ that any proceeds shall be paid jointly to the Lessor and Lessee as ye 4
.'-:INTENDED PURPOSES.. LESSOR'S -SOLE -AND EXCLUSIVE---,....0,:their interestmay appear. The proceeds of. such insurance, at the 1:
•-"D
.--s-w..--WARRANTY:IS AS FOLLOWS:- LESSOR WARRANTS. TO. LESSEE
,.,„--,-•, •;..;;;,-:„•option of„Lessor, shall be applied (a) toward the replacement. restoration -t .4
-z-1..ttlt.THAT THE EQUIPMENT COVERED BY. THIS LEASE- WILL.BE t-ra:,t-or repair.Of the equipment or (b) toward payment of the obligations of ...• .:._
ttt
sr„*IV
DELERED TO LESSEE FREE FROM DEFECTS IN MATERIAI2i...s " Lessee hereunder...t,.
...v......‘,17;4.--ettic. -,y-;....o..---:,.
--:..."..'.,•)-:
:-..,-;:•-t--:-... ,
'-tfr•2'..;AND WORKMANSHIP WHENUSED UNDER PROPER -AND NOWD;t1t... _ • s e
-SUB-LEASING: The Lessen Shall hlo-re riniight teautelea eili said r 7
st.-7MAIICONDITIONS. SHOULD:ANY FAILURE TO .CONFORMLTO,J:•L.4lexpripment-nor remove it from the County and State specified/in this t, -I,
',7,10,1,:rprzTHE :ABOVE- SOLE AND .EXCLUSIVEVARRANTYWAPPEAR....4,contractitithout lltettritien,corisentet the Lesior,„.„,,::,...;:cw..‘s..,„;....„:„.f;;‘,.,:„,
-...:!..DURING:THE.TERM• OF, THIS, LEASE. .AND PROVIDED; NO. StICH::tATITL,Er,Titiein the effiriPinent shall at all tiMes be vested in the Lessor7'7-4
.„,„ 4':-.1DEFECT'S'AFtE IN:ANY „WAY-ATTRIBUTABLETDiTIIEFAUkTDF-Miless•transferked to the Lessee through sale.- The LeMen shall givel;?:.::
:rt., •,?;•,-:.tdiESSEE.;LESSOR WILL REPAIR OR REPLACE THE EQUIPMENT,-;:lltLessor immediate notice of any ley); attempted upon said equipment, 7.11-
7,.::".4:trfeblis3A.r. LESSOR'S OPTION.:THE FOREGOING .WARRANTY.,SHALL-;or if said equipment from any cause becomes liable to seizure, and to .....r:,-; ..•
-;Z:k.O.W.5,44NOT-APPLY 'ID DAMAGEORDEFECTS-CAUSED Br.ORDINARY....:frt:,;indemnify,Lessor against all loss and &Magni' cansed by any such action. t»
il-Sli'ltel.WEAR'AND TEARANDIS EXCLUSIVE AND IN LIEU DE ALL.s.l.DifbEFAULT:. lithe. LeSseeilittil fail tftinike ini rental Payrrinni-whia;iil
.W.---"-kWW,1-0THER WARRANTIES WHETHER WRITTEN; ORAL; EXPRESS 011 -due shall 'attempt to Sell or ene•urcliercan interest in the• '-- • i, -4--l..'
I ...C,-.., r.. --i D ONCLUDENG-ANY.-WAftRANTY-ONMERCHANTABILITV4Ae•shall cease.doIng busmesszis a-goingconcern • shall institute -th..have ,s1.
55 'aintz--ThiPLIE • . ,
- •-•
‘
,..• N't - WI" ' t mt.:- _instituted -against, him •any, proceedings under any, bankruptcy; or- An- .:,;:ti:'
- rARHANTY- ARE ExcLusnrE4ND j.rssbR•
.tiCiFVALITHORIZES'ANYONElEESETO•%1ASSUME r FORTIT, AN
NEIThEit'..ASSb-Mr,Th.t.--;;71,vit.eqtyener.linyfrshpll inake an o.sjignthenbrzt he benefit -of 'credit:Oiler ..;•'•'•."5;
ail tolteniplilwitli4nylother_ provision ,ef this Lease:. 'or' if aby'''-l'Z'
.- TOTHEEt-OBLIGATION: THE 7ABON7E4SOLE•IAN.IXEXCLOSIVElicirittaaliclinitentrexecutioirrwint„ett.:or other. process Is levied agaiiist the - '.-1:1.-7.
;'•-•"- .V.WAFtRANT.Y ,SHALL" CONSTITUTE- LESSEE'S SOLE:REMEDY.: :,., enuinm&lif or any -of if for any reason.Lessor deems ja.,4ill1--
,ketIAND THEIOLE'LTABILITY OF:LESSOWUNDERIANYi;LEGALtit fes--ek‘r-usitg.4:--7 it,---thatL'elgeE'seessor rri.say.PiYimmi*rtedirketelynnd without 'notice- declare. .t..:S"i-
0.4i,..THEORY OR THEORIES WHATSOEVER INCLUDINGAVITHOUr„ts:4;;•if-h-e--.-en.--tireintlincentthi.rentilypaymentedunind piYable 'together -le? r
C A ." - ili/MTTATION -UNDER WARRANTY:- TORT...FRAUD OR CONTRACT:-:::,--ts-iwith-all expenses:otoillection ty Suit or &there/Ise, including- reasonable.t ”1-
.- :LEGAII-THEORY.,THE SOLE ANI) EXCLIJSIVE:WARRANTY:DOES2t,:eitatteitheYs.feen. 4.16i...of the,aboye:eirengSlusrocciir; Lessee -agrees teig".:,
r..- -NOT;INCLUIlE Ft•EIMBURSEMENT.,FX)ReTHVEXPENSES.,t;OF"-..y.w.7.: ,-ndefimiselasifinthe.eqinpmenitildemand And Leaser Maienter':kil
v4mt•ABOR,-,.TRANSPORTATTONINSTALT3ATIONtiREMOVAL,!FROIYIter; Lessee a,fireinisef terche-tull.e-iteiirallcitvedt_bitafriindtakick-..
7!THE'..LINE . OR cANYt-OTHEIT'EXPENSESetWHICHitMAY3BE:•INC,Vrf„-"z Do— ig.. g
--
4.:„CURRED-JIY-4..LESSEE:4Ili7NO&EVENT:"-SHALITYLESSORBErtr,i.„„.6..--t--.4-;,i-,;...n.-1 .F_
° t.I.!°, of"ltr..41,,S, „.4.$41-ta- . Att...-X.;1. ,Trptitkak,i11.,,,lk--0,,OE„-Irti,i.c:
cir; LIABLE; FOR:ANY- PENALTY,OE FORIAbtY4SPECIAL."-LIQUID:4-•.&---,..Yta44-.S PeseeeV0'nll'lellee lext-eiefelePeee eirbilleinsileejer:Phshie r
:,..;;(rdbe-r-than Federal -,Cir-Stateldepirintaies- Of Leiser), on Sistine -rata -1
, tyATED,VINDIRECT.E-OR,CONSEQUENTIAL-DAMAGES:YSUCILlAS liaied_hereirecleCand thechenelitle„ rental; iis.OltZl.-.
t ,S.„,:p.BIJT. NOT,..LINI TED.TD,,LOST4PROFITSl.ORt.REVENUEE;;TIME-41-thflie...e4i4thent
4 -....;,-JA) . . . , Y.OTHER .DAMAGE Ort--INJ.URY5 SUFFERED: BYt....?.41:-.91---operation.thereg tiesseekhall'reintitiSeto Lessor. PPondeMand, ha,,,it4l.
....,A,-;-,9.-, ESSEEDR'ANVDTHER PEtt.SONWIHI,E.THEEQUIPMENT-IStA,.:additional-rentt.the anietint":primouttMot /mi.:Audi:costs and. taxeltv '
-s,LNOPERABLE• FORtANY; REASO&P.AND--.NODEDUCTION4";SHALLelD,Ittetitthd by Les-sor. Itik the intent of this Agreement th • t L • h II 4 • ' " ...
- --rwt-ilE-MAD t
s, E •FOILM;RENTAL•I`AYMENTOTHEREFORe.THEtRECEIPT77SttheMenleeemeler este fief rehire On. tlinequipment !caged heretinderY,..-..r.^
laNDAACCEPTANCE litY,-.211E.:"LESSED,OF.-tTHEt-EQUIPMENT?-"r.‘;JrzAtt'2.1".W-I.A 47 A 4.--:":".9r2(4417:4.Pittt:alt:S3..Mi'41.;Ofr.A19 le i 1;44.
;•Ilirier.9.1_1PLIANCEIWITHTLAWS:;TTh,5Vessee::,aireesitb-:cothp136.:evittir.?):::-,
li 2,•;-_,SHALUltONSITTUTEtiliCKNOWLEDGEMENT4THAtl-THE-EQL-TEKc4.;:w-cand Fonfor to all Municipal. -State find federal -laws -relating to.tlie-:',N
1 ....... . lefi-e-r-a"tiOn'omf 'said equi ment and to -1111Y all costs anclexPenses et eveir'•!-:',..":."
1.1 .s.• MENT IS IN 'GOOD:SAFE'AND SERVICABLECONERTIO-NV.AN15t.:O.
-: LESSEE -MAKES: At CLAIM ..T0,,THEs.......e aracter occasioned or involving thenseor.operation, of thej-eqiziplyir,",.t.
I. .1--fteCONTRAllYt.i&XESSORDWITHIN-t,THREED131-DAYSI:AFTER.t2A_Y-thoof•-;tst.t4t4-,{wPttib_,..3,W,f,„_„iCtiant,ittelX4r.-co,..c::w
46-ftel--74-4!""RECEIPT:OF.-THE EQUIPMENT“-giffSAVV•ht, ..:?.....}0er.-0‘...t.-,i.....a.....--A • •
.o.:4:57t:spz tt -;s:ittiostro:.n.,..„,•---4,94t-----;..‘:-..tern„. -74, ---- • s''''n4":51'''''''Tki..7"1:
‘776-. lazlitIPPLIES„-MAINTENANGEDAND REPAIRS:1,ethe'shall:bo",feit.{4......_ MENVeY'll 'c'ew -.'... .4C11.1"..12.f....WCStt .- "Tr ‘ 4/ • • A
t- sponstble for and shall tear teecexpethe-etaltfnelitubricatiop, ariflif,..c- ;Fp. ,,N.,o.
.4-- .1.; -. -: - ' .4 -. '. thit Lesser' may-ASSige. thts. Lease„ and .AII- rightzwttit
. essee agrees.
:•:.-1t7-,Ob-Spixnaintenance for,eachitem•of eqmpmerit.,L--esiornader-trikei•rio:obliga. stitleand interest of Lessor in. and teitheequipment, and all rents,;:•,..:,1.
.? 4-7ANL with respect to repairs . or replaceiniiitcOljairti . ittAihments-i14. 2:_r dne.or-to. becothe'due al:Leiser" hefeunderloQvhich.assignment itl,,t4t4.
1-„--,,,:accessones or,equmment„exceptpursuant tb:writtei Warianty.,,as,pro:s:m7; wr..„1; LesSee her•eby; Waives 'IMMO and Luseeagrees to recognize sucht-...t."4
iM r 0 .rrim ••• • I- .....
..-t-ti, ,,jided.Indhe'Section of ththleaseentitlerEMAR-RANTYl.PLeasee7shilLtli emssignmenttLessne's obligation.tri paytrent,ipider :Orates"; slialltitA
--titWit iti'apen-ae,'itt all times during the tenthhereof. maintain each itern";:lity t not as to -any Such assigneetniabject to any ourght.,,-:,
- - i• rt.:
i;14•':4'...c.jitt; pi eituprttent tit good- operating.o.rderrrepair and appearisbeetipd,s-ballf,--E:l-
rtezLer.„. - -•• . - . .--. ,,,,-73-etiet-OfEkounterclaim orreciniphient Whatsoever arising put -of ;s.i.
i.........3.t.sti-hibricate•And.-practice preventatiVe•maintenanie.at regularinteryalik st....1. any breacho any o gation of.the Lessor ereun eror, y reason ,;,.. .,
i. icas suggested m manaufactnrei's service maithal;reeeipt:ilif itrifiy• of, ::,. "-aany other' Mbility:at any time "owmg.bythe Lessorlethe Lessee.; -4.4.
-•.. .. .
is hereby acknowledged by Lessee: Lessee agrees to rnaintamt..„:„,.._ •-•- Lessee 'she, not assign•this Le.aie. or‘any:tights hereunder or to
h...%•: ”Jarrr"•;Itild equipment in the sarne conditon as when delivered to it by Leisora-tt-tr.--
-- • 1 11: the items . - of e. it. i. in. ,en..t::157': "Itiett.,:+1gt:..:"?.4i.c;11.:-.3.:1 .....................................
--.ZICk:tvinal-and• ordinary wear and tear excepted...Les-See-Agrees-that in effect::: „:....GENERAL:Time inter the eisence of this. e„•Lessor's failure at ainy.•.-t...
.;55-4.-11:;111S--'maittenance and.repam* s, it will have"such work performed Only by ----..-11.......; time to requirestrictperformance by Lessee of any of the provisions of .-1-v•
_ .
persons who are , satisfactory to Lessor.- 'itat-r4 4;17;:u.1,: -AY.:? -1;:._ .-1-,1 this Lease shall not wa ve or diminish Les.sor's nght thereafter to demand • . ,:...
-..”4"-22-*?:-.0--v--t:D• --- -.:..."...,,,p,..}A, c r ‘..„ :v. „„. 7 7„,,i.,...7 ...„ 2-7--rtr'Sti.411.4.2',";,...:-.:2.-" r .:•1-.- Strict compliance therewith or with any oth-er provisions. Waiver of any .4
Lessee-agreek that -the equipment shalt be used solely ,
t; 'default shall not waive any other default. The remedies in this Lease :. ..
„,•,:.--;,..1... ur the conduct of Lessees business and withinteSsee's possession and ...-provided in favor of Leiser shall be available to its success -ors and as -signs - ,
''.. • ...-2.- 'under its control, that said equipment is to be used solely by the Lessee . and shall not bi deemed exclusive, but shall be cumulative, and shall •
..„ ...::. -,„.. or is employees and for the purposes for, which it was intended, that r Err be in addition to all other remedies in itsor their favor existing at law •
i''."' -a• "'saki •
. , • . equipment 'will be operated only by competent employees of Lessee __ or in -equity. • ..
. • . and shall not be used beyond its normal capacity. • • •• • 7:- - ....t.'i ..:.. •
W hen equipment is not in use. 11 will be kept in a protected area.
,FrAit
e
••
Equipment:
"Williams Ford Tractoit& Equipment Co.
Box 1346
Fayetteville, Arkansas 72701
Ford Tractors
New Holland Equipment
.17
.Phone 4424284
"Attachment to lease agreement: •
. •
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 purpoie by the. FayetteVille Board of
-':?Direetore. ',therefore, -LesseeMay terminate this *lease agreement - • .
its future,monetary obligations hereunder effective ati of r ;!.:••";c1 '4
.(C1 "of eed ing4ear I
.. obligations Of Lessee to make payments due after the termination date
:will Cease and all interest of Lessee. in tbe. leased equipment ••
Will terminate as of the termination. date. -1
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