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HomeMy WebLinkAboutResolution - 5164 - Contract - Abilene AG New Holland Inc - Round Hay Balers - 04/18/1996i RESOLUTION No. 5164 April 18, 1996 Item #i10 RESOLUTION BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the Mayor of the City of Lubbock BE and is hereby authorized and directed to execute for and on behalf of the City of Lubbock a Contract with Abilene AG New Holland, Inc. of Lubbock, Texas, to furnish and install all materials and services as bid for the Round Hay Balers, attached hereto and which shall be spread upon the minutes of the Council and as spread upon the minutes of this Council shall constitute and be a part of this Resolution as if fully copied herein in detail. Passed by the City Council this ATTEST: 4Beir'&Johns, City Secretary APPROVED AS TO CONTENT: VictarMlman, chasing Manager APPROVED AS TO FORM: City Attorney DGV:js/HAYBALER.RES ccdocs/Apri19, 1996 0 FORD NEW HOLLAND EQUIPMENT LEASE ACCT. NO. DATE CUSTOMER (HEREINAFTER CALLED "LESSEE") LEASE TERMS DEALER (HEREINAFTER CALLED "LESSOR") CITY OF LUBBOCK MODEL BILENE AG FORD NEW HOLLAND, INC. (NAME) LEASE TERM IND. OF PMTS (NAME) 1625 13TH STREET 1358 SOUTH TPEADAWAY (ADDRESS) USAGE [IN �g.} (ADDRESS) LUBBOCK LUBBOCKTEXAS 74401 ABILENE TAYLOR TEXAS 7960? (CITY) (COUNTY) (STATE) (ZIP CODE) (CITY) (COUNTY) (STATE) (ZIP CODE) Lessor hereby agrees to lease to Lessee and Lessee hereby agrees to lease from Lessor the following described equipment (hereinafter called the "Equipment") upon the terms and conditions hereinafter set forth: EQUVPMENT LEASE TERMS NIU MAKE AND TYPE MODEL SERIAL N0. HR METER NORMAL LEASE TERM IND. OF PMTS EXCESS USE CHARGE READING USAGE [IN �g.} GNCLUDINC ADVANCE) PER HOUR $ MEN HOLLAND HR N BALER 66Ei929288 PYR RENTAL PAYMENT RENTAL TAX TOTAL PAYMENT HRS ADVANCE PMTS PVR $ 5,014.36 S NIA S 5,014.36 HRS REMAINING EACH ; NR - PVR $ 5, 014. 36:: 2 S ; !" ' S 5,014.36 HRS PURCHASE OPTION PRICE TOTAL RENTAL PER E)D15, '43. (eYS TAXS& AVANCE S *Number Remaining Periodic Rentals are payable in advance. The Advance Rental Payment is due this date. Subsequent payments are due commencing APRIL • 19 97 and ❑ Monthly on the NIA day of each month thereafter, except for months of NIA N/A NIA NIA ❑ Quarterly on the NIA day of each third (3rd) month thereafter. ❑ Semi—annually on the NIA day of eack sixth (6th) month thereafter. Annually an the 10thday of each twelfth (12th) month thereafter. TERMS AND CONDITIONS 1. LEASE TERM. Lessee hereby acknowledges delivery and acceptance in good order of each item of Equipment listed above. The term of this lease for each item of Equipment shall commence on the date hereof and shall continue for the Lease Term specified above, except as hereinafter provided. 2. RENTAL. During the Lease Term, Lessee shall pay to Ford New Holland Credit Company (hereinafter called "FNHC9, as the assignee of the rentals coming due under this lease, the total rentals specified above, together with a delinquency charge on each periodic rental installment in default for ten days or more in the amount .of 2% of such rental Installment or $5, whichever is greater, not to exceed the maximum amount permitted by law, plus all expenses incurred by FNHC in effecting collection hereunder. The advance rental payment shall be payable upon the execution hereof and subsequent periodic rentals shall be payable in advance on the day and at the intervals indicated above. Upon the expiration or earlier termination of this Eease, Lessee shall pay to FNHC as additional rental for each hour of use of any Item of the Equipment in excess of its normal usage, as specified above, the Excess Use Charge Per Hour secified above. Excess hours with respect to any such item shall be the number of hours, if any, by which (a) the actual hours ofpuse thereof by Lessee during the Lease Term exceeds (b) the normal hours of use per year for such Item, as specified above, multiplied by the number of years, including fractions thereof, during which such item was under lease to Lessee. 3. INSURANCE AND INDEMNITY. The Equipment shall be at Lessee's risk. Lessee shall obtain and maintain at Lessee's expense for so long as any amount remains unpaid hereunder insurance protecting the interests of Lessor, FNHC and Lessee against loss, damage or destruction of or to the Equipment in such forms and amounts as Lessor and FNHC may require. If a charge is shown below, the Lessor will try to buy the coverages checked for the term shown. Coverages will be based on the cash value of the Equipment at the time of loss but not more than the limits of the policy. ❑ tt iAprehensive ❑ Collision $ �1 :1 Deductible ❑ Term NIA Months (Estimate) Premium $ 1M PROPERTY INSURANCE MAY BE OBTAINED FROM A PERSON OF YOUR CHOICE INSURANCE DOES NOT COVER PERSONAL LIABILITY AND PROPERTY DAMAGE CAUSED TO OTHERS The Lessor, however, is not responsible if Lessor cannot buy the insurance. If the Lessor cannot buy the insurance required under the lease, the Lessee must obtain it. Whether or not the Equipment Is insured, the Lessee must still make rental payments during the term of this Lease if the Equipment is lost, damaged or destroyed. If Lessee fails to obtain or maintain such insurance, or fails to furnish satisfactory evidence thereof upon request, Lessor or FNHC may, but shall not be required to and without prejudice to their rights hereunder if they do not, obtain such insurance protecting either the interests of Lessee, Lessor and FNHC or the interests of Lessor and FNHC only. In such event, Lessee agrees to reimburse Lessor or FNHC for the cost thereof forthwith upon demand together with interest thereon at the highest lawful contract rate. Lessee hereby assigns to Lessor and FNHC any monies payable under such insurance, by whomever obtained, including returned or unearned premiums, and Lessor and FNHC hereby are authorized on behalf of Lessee, Lessor or FNHC to receive or collect same, to endorse checks or drafts in payment thereof, to cancel such insurance or to release or settle any claim with respect thereto. The proceeds from such insurance, by whomever obtained, shall be applied toward replacement of the Equipment or payment of the indebtedness hereunder at the sole discretion of the Lessor or FNHC. (The Additional Terms and Conditions set forth on the reverse side hereof are a part of this Lease.) Lessee CITY OF LUBBOCK Lessor ABILENE AS FORA- NEW HOL,L_ ND, INC. By Ely f /' _R V L T� n r 1:� (: .,� r��� - - — GUARANTY OF PAYMENTS. The undersigned guarantees performance of this lease by Lessee, including prompt payment vvRan due of the sums payable by Lessee. The undersigned shall, upon demand, immediately pay any sums due 'under this lease. The undersigned hereby waives notice of modification s ents, extensions, non—performance, or nonpayment. This guaranty shall be direct, primary, and a cnntinul bl' ned and the unde[ gned's heirs, suc essoM ander as�sigLnns. , Signature - ^1 11 �} i �1� �1" e cy = Print Name City, State, Zip FOR LESSOR'S USE ONLY Insurance Coverage: Name of Insurance Agent Telephone No. Address of Insurance Agent Name of Insurance Company Policy No. Check Coverages: Property Damage Insurance ❑ $ Deductible Comprehensive ❑ $ Deductible Collision Liability Insurance Per Per per ❑ Bodily Injury $ Person$ Accident ❑ Property Damage $ Accident 230034 9194 PRINTED IN USA TERMS AND CONDITIONS (Cont'd) Lessee shall indemnify and hold harmless Lessor and Lessor's agents, employees and successors from and against any damage, loss theft or destruction of the Equipment or any part thereof, and of the cargo or contents thereof, during- the term of this lease, and from and against any and all loss, damages, Injuries, claims, demands, costs and expenses (including legal expenses) of every kind and nature, arising out of or connected with the use, condition (including, without limitation, all defects whether or not discoverable by Lessor or Lessee) or operation of the Equipment or any part thereof during the term of this lease. Lessee shall obtain liability insurance from a carrier acceptable to Lessor In such form and subject tosuch limits as Lessor may reasonably require protecting the interests of Lessor, FNHC and Lessee against claims for damages or injuries to persons or property caused by the use, holding or operation of the Equipment. Lessee shall promptly notify Lessor of any loss, damage, theft, destruction, injury, claim, demand, cost or expenses of which Lessee has notate. 4. MAINTENANCE, REPAIRS AND OPERATING EXPENSES. Lessee shall maintain the Equipment in good working order and condition, properly serviced and garaged, and shall make all necessary repairs and replacements. Title to all replacements shall vest in Lessor. Lessee shall pay for all such maintenance and repairs and for all gasoline, oil, anti—freeze and other supplies required for the proper operation or protection of the Equipment. ,, REGISTRATION AND TAXES. Lessee shall accomplish and pay for the titling, re istration and licensing of the Equipment in Lessor's name, and all inspections thereof required by any governmental authority. In 2lition, Lessee shall pay ail occupational taxes and governmental charges imposed in connection with the use of the Equipment and all sales, use, excise, personal property and other taxes and government charges payable during the term of this lease with respect to the Equipment or its ownership, possession, rental, transportation or delivery, except net income or gross receipts taxes measured by rentals payable hereunder. 6. EXTENSION OF LEASE TERM. Upon the expiration of this Lease, Lessee, with the approval of the Lessor and FNHC, may extend the Lease Term on a month to month basis and at the rental hereinafter specified but otherwise on the same terms and conditions specified herein, and Lessee shall be deemed to have extended the Lease Term on such basis in the event and for so long as Lessee fails to return the Equipment to Lessor. Lessee shall pay to FNHC each month in advance during the extended term the following .rental: (a) the monthly rental payable during the original Lease Term, if periodic rentals were payable monthly, or (b) the periodic rental payable during the original Lease Term divided by the number of months in each period, if periodic rentals were payable annually or semi—annually, or on other than a monthly basis. 7. TERMINATION. a. By Lessee. Lessee shall have no right to terminate this lease, provided, however, that with the prior written consent of FNHC, Lessor and Lessee may agree to terminate this Lease upon such terms as they may mutually determine. b. By Lessor. Lessor may terminate this lease at any time with respect to all or any item of Equipment upon the occurrence of any of the following events of default: (i) Failure by Lessee to provide any insurance to be provided by Lessee hereunder, or refusal by any insurance carrier to issue any insurance required hereunder, or cancellation or suspension by the carrier of any insurance required hereunder; (ii) Failure by Lessee to pay any rental or other payment required hereunder; (iii) The damage, Coss, theft or destruction of the Equipment or any part thereof; (iv) Failure by Lessee to perform any other provision of this lease to be performed by Lessee; (v) The filing of any petition by or against Lessee under any bankruptcy, reorganization or receivership law, or Lessee's making any assignment for the benefit of creditors, or Lessee suffering the appointment of any trustee or receiver of Lessee's business or assets or any part thereof or Lessee making or suffering any voluntary or involuntary assignment of Lessee's interest in the Equipment or any portion thereof, or Lessee suffering any lien, attachment or levy to become attached to the Equipment or any portion thereof, unless such petition, assignment, appointment, lien, attachment or levy be withdrawn or nullified within ten days. Upon such event of default, Lessor may Immediately retake the Equipment. Any such termination of this lease by Lessor for default by Lessee shall not terminate Lessee's obligations to pay all of the rentals and other payments specified herein. Additionally, upon such termination Lessee shall be responsible to pay the residual value used to determine the lease payments. Upon any such termination of this lease by Lessor for Lessee's default Lessor may sell the Equipment or any item thereof, if the Equipment has not been stolen or totally destroyed, at public or private sale. The amount of any sales proceeds and/or insurance proceeds (after first deducting the costs of retaking, holding,preparing for sale and selling the Equipment, including attorneys fees and legal expenses, as permitted by law) received by Lessor, shall be credited against (1) the amount of rentals and other payments remaining due under this lease as of the date of the sale of the Equipment, or the date of the theft or total destruction of the Equipment, plus (2) the amount of the residual value used to determine the rental payments under this lease. The deficiency, if any, shall be paid by Lessee forthwith upon demand, with interest thereon at the highest lawful contract rate. To the extent permitted by law, Lessee shall pay attorneys fees and legal costs incurred by Lessor if suit is brought to collect any deficiency by an attorney who is not an employee of Lessor. No surplus shall be paid to Lessee. Lessor's rights and remedies hereunder are In addition to any given by law and may be enforced successively or concurrently. Waiver by Lessor of any default shall not be deemed a waiver of any other default. Lessor shall provide Lessee all notices required by law after an event of default and termination occurs. S. USE AND RETURN OF EQUIPMENT_ Except with prior written consent of Lessor, the Equipment will be used only for the purpose for which it was designed and built and wilt be operated out of, and, when not in use will be stored oney at Lessee's address stated above. Lessor and FNHC may enter on Lessee's property at any time to inspect the Equipment. Upon the expiration or earlier termination of this lease, Lessee shall return the Equipment to Lessor at Lessor's address stated above in the same condition as when delivered to Lessee, reasonable wear and tear only excepted. Lessee shall pay Lessor all costs and expenses incurred by Lessor to repair any physical or mechanical damage to the Equipment in excess of reasonable wear and tear. 9. FORCE MAJEUREMO CONSEQUENTIAL DAMAGES/WARRANTIES. Lessor shall not be liable for any failure or delay in delivering the Equipment or any portion thereof, or in performing any provision hereof, due to fire or other casualty, Gabor difficulty, governmental restriction or any cause beyond Lessor's reasonable control. In no event shall Lessor be liable for any loss of profits, other consequential damages or inconvenience due to any theft, damage, loss, defect or failure of the Equipment or any item thereof or the time consumed in recovering, repairing, servicing or replacing the same, and there shall ei no abatement or apportionment of rental during such time. In this lease there are no express or implied warranties about the Equipment, including, without limitation, warranties of merchantability, suitability or fitness for a particular purpose. 10. AGREEMENT OF LEASE ONLY. This Agreement is one of leasing only and Lessee shall not have, or acquire any right, title or interest in the Equipment or any item thereof except the right to use the same during the term hereof. If a Purchase Option Price is disclosed on the front of this lease, Lessee may purchase the Equipment for the Purchase Option Price upon the expiration of this lease if the Lessee is not then in default. Lessee shall pay all applicable taxes upon such purchase. 1 1, ASSIGNMENT. Promptly upon the execution and delivery hereof, Lessor will assign all rentals and other payments due or to become due hereunder to FNHC and will convey to FNHC a security interest in the Equipment and each item thereof to secure all amounts now or hereafter due or to become due by Lessor or Lessee to FNHC hereunder or otherwise. Lessee acknowledges receipt of notice of Lessor's intent to make such assignment and to convey such a security interest to FNHC and agrees to make all payments due or to become due hereunder directly to FNHC without further notice. Lessor and Lessee further agree that FNHC shall at all times have the right to exercise an of Lessor's rights hereunder but shall not be responsible for any of Lessor's obligations hereunder, and Lessee's rights hereunder shall at all times be junior and subordinate to FNHC's interests in the Equipment. Lessor and Lessee agree that this lease cannot be amended without FNHC's written consent, and that any amendment to this lease made by Lessor and Lessee without FNHC's written consent shall be void. Lessee may not sublet the Equipment or any item thereof or assign any of Lessee's rights hereunder. Lessee agrees to notify FNHC promptly in writing in the event that Lessee shall terminate this agreement or return any or all of the Equipment to Lessor. ASSIGNMENT FOR VALUE RECEIVED, the undersigned, the Lessor named in the attached Equipment Lease (hereinafter called the "Lease"), hereby assigns, transfers and sets over unto Ford New Holland Credit Company (hereinafter called "FNHC"), its successors and assigns, all rentals and other payments paid, due or to become due, under the Lease and authorizes FNHC in the name of the undersigned or otherwise, to receive, collect and receipt for the payment of said rentals and other payments and give full discharge therefor; to endorse any checks, drafts, money orders, or instruments for the payment thereof payable to or to the order of the undersigned that may be received by FNHC in connection therewith; to sue for, settle, adjust and compromise all present or future claims arising thereunder or in connection therewith; to sell, assign, pledge or make any other agreement with respect thereto; and to exercise all other rights and remedies that the undersigned would have with respect thereto but for this Assignment. The undersigned covenants and agrees to endorse and remit any of such rentals or other payments received by the undersigned to FNHC and to keep in effect, and not change or alter or consent to any change or alteration of the Lease without the consent of FNHC and to require the Lessee under the Lease to comply with all of the terms and conditions thereof. Ascollateral security for the obligations of the undersigned hereunder and for ail other obligations of the undersigned to FNHC now or hereafter existing, the undersigned does hereby grant to FNHC a security interest in the Lease and the Equipment described therein. This Assignment is made pursuant to an Equipment Lease Financing Agreement heretofore executed by the undersigned and is subject to the provisionsthere . Lessor and Les a expressly acknowledge and agree that FNHC may assign any four all of r rights and obligations under tJhirs. ,ajgreement to an is s ary -r 4.ffil' companies. Lessor 1I1.i.. `�iI f l l.Y� "WOR—WITHOUT RECOURSE" This Assignment of the Lease is and shall be without recourse against Lessor, except as otherwise provided by the terms of the WOR — Without Recourse Equipment Lease Financing Agreement and Plan in effect Initial at the time this Assignment becomes effective. REPURCHASE" This Assignment of the Lease is and shall be subject to the RA—Repurchase Equipment Lease Financing Agreement executed by Lessor in effect at the time this Assignment becomes effective, and Lessor shall pay in full the Initial Lease Termination Value as provided in the RA—Repurchase Equipment Lease Financing Agreement and Plan. PLAN" This Assignment of the Lease is and shall be subject to the agreement heretofore executed by Lessor with respect to such Plan. Initial THIS FINANCING STATEMENT IS PRESENTED TO A FILING OFFICER FOR FILING PURSUANT TO THE UNIFORM COMMERCIAL CODE. 11. [:]CHECK TO REQUEST SAME DEBTOR SEARCH CERTIFICATE. (INSTRUCTION B.11) 1. DEBTOR (IF PERSONAL) LAST NAME FIRST NAME M.I. 1A. PREFIX 1& SUFFIX 1C. MAILING ADDRESS 1D. CITY, STATE 1E. ZIP CODE 7475 7 47-!1 STREET LUBBOCK TEXAS 79401 r7ZDITIONAL DEBTOR (IF PERSONAL) LAST NAME FIRST NAME M.I. 2A. PREFIX 2B. SUFFIX 2C. MAILING ADDRESS i Zu. GI I T, .7IAI It I cC, car wC 3. ADDITIONAL DEBTOR (IF PERSONAL) LAST NAME FIRST NAME M.I. 3A. PREFIX 3B. SUFFIX 3C. MAILING ADDRESS 7u�. c n T, �IAI t aG. cir 4JVlfC 4, SECURED PARTY (IF PERSONAL) LAST NAME FIRST NAME M.I. ABILENE AC FORD NEW HOLLAND, INC 4A MAILING ADDRESS 4B. CITY, STATE 40. ZIP CODE 1356 Til T,RF41)11WII Y ABILENE TEXAS 79602 5. ASSIGNEE OF SECURED PARTY (IF ANY) FORD NEW HOLLAND CREDIT 5A MAILING ADDRESS 5B. CITY, STATE 5C. ZIP CODE 13 =' ALNUT !JILL 'L^1/1NC TEXAS ;"5(73' 8, This FINANCING STATEMENT covers the following types or items of property. (H collateral is crops, fixtures, timber or minerals, read Instruction B. 6-7.) ONE NEW - �IUDEL 664 NEW HOLLAND BALER SN 929188 7. CHECK ONLY 7A. PRODUCTS OF 7S. THIS FINANCING STATEMENT IS NUMBER OF ADDITIONAL IF 0 COLLATERAL ARE TO BE FILED FOR RECORD IN SHEETS APPLICABLE ALSO COVERED ❑ THE REAL ESTATE RECORDS. PRESENTED 8, CHECK 8A THIS FINANCING STATEMENT IS SIGNED BY THE SECURED PARTY APPROPRIATE INSTFAD OF THE DEBTOR TO PERFECT A SECURITY INTEREST IN BOX COLLATERAL 14 ACCOR E WITH INSTRUCTION B. 8 ITEM: �(1) ❑(2) E(3) ❑(4) ❑(5) 9. SIGNATURE(S) THIS SPACE FOR USE OF FILING OFFICER OF i.f (DATE, TIME, NUMBER, FILING OFFICER) DEBTORISI — r T TY RF LUBBOCK SIGNATURES) OFA SECURED PARTY A 3ILEME AG FORD NEW HOLLAND INC. 10. Return copy to: NAME I FORD NEW HOLLAND CREDIT ADDRESS P. 0. BOX 167429 CITY STATE IRVING, TEXAS 75016-7429 ZIP L J STANDARD FORM — FORM UCC -1 (REV. 911/92) C 1992 OFFICE OF THE SECRETARY OF STATE OF TEXAS REORDER FROM. Registre', Inc. 514 PIERCE ST P.O. SOX 218 ANOKA, MN 55303 ' Mle nnf1V ne'TA/+IJ tlt•t•.AefL` uau .w.A AGREEMENT TO PROVIDE PHYSICAL DAMAGE INSURANCE I understand that to provide protection from serious financial loss, should an accident or loss occur, my instalment contract requires the equipment to be continuously covered with insurance against the risks of fire, theft, collision, combined additional coverage, and that failure to provide and maintain such insurance will constitute a default of my instalment contract. Accordingly, I have arranged for the required insurance through the insurance company shown below and have requested my agent to note Ford Motor Credit Company's interest in the equipment and endorse the policy with a loss payable endorsement in favor of Ford Motor Credit Company located at: Ford Motor Credit Company NUMBER P1 IRCHARFR- 1340 WALNUT HILL IRVING TEXAS 75038 STREET CITY STATE EQUIPMENT INSURED: MAKE FIRST MIDDLE LAST NAME CITY OF LUBBOCK ;JN NUMBER STREET CITY STATE ZIP CODE ADDRESS 1625 13TH STREET LUBBOCK TEXAS 74401 EQUIPMENT INSURED: MAKE MODEL DESCRIPTION SERIAL NUMBER ;JN 664 CAL ER 929188 ZIP CODE EFFECTIVE TELEPHONE NUMBER — FROM: TO: INSURANCE AGENT: NAME SELF INSURED THROUGH CITY OF NUMBER POLICY AND STREET CITY, STATE ZIP CODE EFFECTIVE TELEPHONE NUMBER — FROM: PURCHASE/ SIGNS ►, r''' DEALER/SALES" SIGNS 10, FC 11590-T&E MAR 88 INSURANCE COMPANY: ZIP CODE FORD CREDIT ACCOUNT NUMBER U8�1�K POLICY NUMBER EFFECTIVE DATE FROM: TO: [) FIRE—THFFT [] COMPREHENSIVE [COVERAGE COLLISIONS DEDUCTIBLE—MAXIMUM DEDUCTIBLE $560 DATE 5 10 11( DEALERABILENE AG FORD NEW HOLLAND, INC. CUSTOMER COPY AGREEMENT TO PROVIDE PHYSICAL DAMAGE INSURANCE I understand that to provide protection from serious financial loss, should an accident or loss occur, my instalment contract requires the equipment to be continuously covered with insurance against the risks of fire, theft, collision, combined additional coverage, and that failure to provide and maintain such insurance will constitute a default of my instalment contract. Accordingly, I have arranged for the required insurance through the insurance company shown below and have requested my agent to note Ford Motor Credit Company's interest in the equipment and endorse the policy with a loss payable endorsement in favor of Ford Motor Credit Company located at: Ford Motor Credit Company 1340 WALNUT HILL IRVING TEXAS 75038 NUMBER STREET CITY STATE ZIP CODE PURCHASER: FIRST MIDDLE LAST NAME CITY OF LUBBOCK NUMBER STREET CITY STATE ZIP CODE ADDRESS 1525 13TH STREET L11R6 ICK TEXAS 791401 EQUIPMENT INSURED: MAKE MODEL DESCRIPTION SERIAL NUMBER tdf� z�F�E BALER 929152 ZIP CODE FROM: TO: TELEPHONE ❑ FIRE -THEFT COMPREHENSIVE NUMBER ❑ COLLISION $ DEDUCTIBLE -MAXIMUM DEDUCTIBLE $500 INSURANCE AGENT: NAME SELF INSURED THROUGH CITY OF NUMBER AND STREET CITY, STATE ZIP CODE FROM: TO: TELEPHONE ❑ FIRE -THEFT COMPREHENSIVE NUMBER ❑ COLLISION $ DEDUCTIBLE -MAXIMUM DEDUCTIBLE $500 INSURANCE COMPANY: FORD CREDIT ACCOUNT NUMBER 8 Bwek POLICY NUMBER EFFECTIVE DATE FROM: TO: ❑ FIRE -THEFT COMPREHENSIVE COVERAGE ❑ COLLISION $ DEDUCTIBLE -MAXIMUM DEDUCTIBLE $500 PURCHASER SIGNS � I DATE r DEALER/ SA� Fe..w. __�- ABILE'NE AG FORD NEW HOLLAND, INC. SIGNS """ may* DEALER FC 11590-T&E MAR 88 CUSTOMER COPY dP 1. DEBTOR (IF PERSONAL) LAST NAME FIRST NAME ci r -p, OF LUBbCiCK 1C. MAILINGADDRESS Y421; T 3TH STRFFT THIS FINANCING STATEMENT IS PRESENTED TO A FILING OFFICER FOR FILING PURSUANT TO THE UNIFORM COMMERCIAL CODE, 11. [JCHECK TO REQUEST SAME DEBTOR SEARCH CERTIFICATE. (INSTRUCTION B.11) M.I. 1A. PREFIX 1B. SUFFIX CRY, SPATE 1E. ZIP CODE L UBSOCK TEXAS 79401 , ADDITIONAL DEBTOR (IF PERSONAL) LAST NAME I FIRST NAME I M.I. 2A. PREFIX 2B. SUFFIX 2C. MAILING ADDRESS 12D. CITY, STATE 12t, LIF^ Gout 3. ADDITIONAL DEBTOR (IF PERSONAL) LAST NAME I FIRST NAME I M.I. 3A. PREFIX 3B. SUFFIX 3C. MAILING ADDRESS 31J. CI1Y, SIAIL 3E. LIN CoUt 4. SECURED PARTY (IF PERSONAL) LAST NAME I FIRST NAME 1 M.I. ABILENE AG FORD NEW HOLLAND, CODE 4A MAILING ADDRESS 4B. CITY, STATE 4C. ZIP 13_ OUTH TREADAWAY �SILENE TEXAS 5. ASSIGNEE OF SECURED PARTY (IF ANYj FORD NEW HOLLAND CREDIT 5A. MAILING ADDRESS 5B. CITY, STATE 5C. ZIP CODE 1340 WALNUT HILL `?VING TEXAS -138 s. This FINANCING STATEMENT covers the fallowing types or items of property, (if collateral is crops, fixtures, timber or minerals, read Instruction B. 6-7.) NEW - NODEL 664 NEW HOLLAND BALER - SH 929151 7. CHECK ONLY 7A. PRODUCTS OF 7B. THIS FINANCING STATEMENT IS NUMBER OF ADDITIONAL IF COLLATERAL ARE TO BE FILED FOR RECORD IN SHEETS APPLICABLE EJ ALSO COVERED 1 1:1 THE REAL ESTATE RECORDS. PRESENTED _ B. CHECK BA THIS FINANCING STATEMENT IS SIGNED BY THE SECURED PARTY APPROPRIATE INSTEAD OF THE DEBTOR TO PERFECT A SECURITY INTEREST IN BOX COLLATERAL IN ACCORDANCE WITH INSTRUCTION B. B ITEM: 0(1) [](2) �(3) [:](4) E](5) 9. SIGNATURES)/ THIS SPACE FOR USE OF FILING OFFICER OF l' , ) (DATE, TIME, NUMBER, FILING OFFICER) rTTY 17F !_t1fMOCK SIGNATURE(S) OF SECURED PARTY(lE ABILENE AG FORD NEW HOLLAND, INC. 1.0. Return copy to: op NAAAE I FORD NEW HOLLAND CREDIT ADDRESS p. o. b o x 167429 CITY IRVING, TEXAS 73016-7429 STATE ZIP L J I STANDARD FORM — FORM UCC -1 (REV. 911192) C) 1992 OFFICE OF THE SECRETARY OF STATE OF TEXAS REORDER FROM: Regislre', Inc. 514 PIERCE ST P.C. BOX 216 ANOKA, MN 55303 FORD NEW HOLLAND _ ■ ACCT. NO. DATE EQUIPMENT LEASE CUSTOMER (HEREINAFTER CALLED "LESSEE") LEASE TERMS DEALER (HEREINAFTER CALLED "LESSOR") CItY OF LUBBOCK MODEL ABILENE AG FORD NEW HOLLAND, INV. (NAME) LEASE TERM OF PMTS (NAME) 1625 13T11 STREa:I- 1358 SOUTH TREADAWAY (ADDRESS) USAGE (IN,ros.l (ADDRESS) LUBBOCK LUBBOCK TEXAS 79401 ABILENE TAYLOR TEXAS 79602 (CITY) (COUNTY) (STATE) (ZIP CODE) (CITY) (COUNTY) (STATE) (ZIP CODE) Lessor hereby agrees to lease to Lessee and Lessee hereby agrees to lease from Lessor the following described equipment (hereinafter called the " Equipment") upon the terms and conditions hereinafter set forth: EQUIPMENT LEASE TERMS NIU MAKE AND TYPE MODEL SERIAL NO. HR METER NORMAL LEASE TERM OF PMTS EXCESS USE CHARGE READING USAGE (IN,ros.l IND. (INCLUDING L>DVANCE) ,PER HOUR $ N NEWBfAND AHE�L r, 92 91 5 2 HRS PYR RENTAL PAYMENT RENTAL TAX TOTAL PAYMENT HRS ADVANCE PMTS PYR S5, 014.36 S 11/;" S 5,014.36 HRS REMAINING EACH) NR- PYR $5, 014.36 ; 2 S 1 jt S 5,014.36 HRS PURCHASE OPTION PRICE TOTAL RENTAL PERI S NONE PMTSINCLUDING VCE $15,043.08 *Number Remaining Periodic Rentals are payable in advance. The Adntal Payment is due this dy#Ief Subsequent payments are due commencing !Hi tt''llff 1! LL 19f ! a d ❑ Monthly on the ,f.� day of each month thereafter, except for months of N%A !J/A MIA P�//J al ❑ Quarterly on the ✓ t day of each third (3rd) month thereafter. ❑ Semi–annually on the it yr' day of each sixth (6th) month thereafter. 0 Annually on the day of each twelfth (12th) month thereafter.. TERMS AND CONDITIONS 1. LEASE TERM. Lessee hereby acknowledges delivery and acceptance in good order of each item of Equipment listed above. The term of this lease for each item of Equipment shall commence on the date hereof and shall continue for the Lease Term specified above, except as hereinafter provided. 2. RENTAL. During the Lease Term, Lessee shall pay to Ford New Holland Credit Company (hereinafter called "FNHC"), as the assignee of the rentals coming due under this lease, the total rentals specified above, together with a delinquency charge on each periodic rental installment in default for ten days or more in the amount of 2% of such rental Installment or $5, whichever is greater, not to exceed the maximum amount permitted by law, plus all expenses incurred by FNHC in effecting collection hereunder. The advance rental payment shall be payable upon the execution hereof and subsequent periodic rentals sha4l be payable in advance on the day and at the intervals indicated above. Upon the expiration or earlier termination of this lease, Lessee shall pay to FNHC as additional rental for each hour of use of any Item of the Equipment in excess of its normal usage, as specified above, the Excess Use Charge Per Hour specified above. Excess hours with respect to any such item shall be the number of hours, if any, by which (a) the actual hours of use thereof by Lessee during the Lease Term exceeds (b) the normal hours of use per year for such Item, as specified above, multiplied by the number of years, including fractions thereof, during which such item was under lease to Lessee. 3. INSURANCE AND INDEMNITY. The Equipment shall be at Lessee's risk. Lessee shall obtain and maintain at Lessee's expense for so long as any amount remains unpaid hereunder insurance protecting the interests of Lessor, FNHC and Lessee against loss, damage or destruction of or to the Equipment in such forms and amounts as Lessor and FNHC may require. If a charge is shown below, the Lessor will try to buy the coverages checked for the term shown. Coverages will be based on the cash value of the Equipment at the time of loss but not more than the limits of the policy. r IJ°e; kprehensive I-Y/6"oilision S ✓' Deductible ❑ Term �f✓A Months (Estimate) Premium $ ✓ PROPERTY INSURANCE MAY BE OBTAINED FROM A PERSON OF YOUR CHOICE INSURANCE DOES NOT COVER PERSONAL LIABILITY AND PROPERTY DAMAGE CAUSED TO OTHERS The Lessor, however, is not responsible if Lessor cannot buy the insurance. If the Lessor cannot buy the insurance required under the lease, the Lessee must obtain it. Whether or not the Equipment is insured, the Lessee must still make rental payments during the term of this Lease if the Equipment is lost, damaged or destroyed. If Lessee fails to obtain or maintain such insurance, or fails to furnish satisfactory evidence thereof upon request, Lessor or FNHC may, but shall not be required to and without prejudice to their rights hereunder if they do not, obtain such insurance protecting either the interests of Lessee, Lessor and FNHC or the interests of Lessor and FNHC only. In such event, Lesseeagrees to reimburse Lessor or FNHC for the cost thereof forthwith upon demand together with interest thereon at the highest lawful contract rate. Lessee hereby assigns to Lessor and FNHC any monies payable under such insurance, by whomever obtained, including returned or unearned premiums, and Lessor and FNHC hereby are authorized on behalf of Lessee, Lessor or FNHC to receive or collect same, to endorse checks or drafts in payment thereof, to cancel such insurance or to release or settle any claim with respect thereto. The proceeds from such insurance, by whomever obtained, shall be applied toward replacement of the Equipment or payment of the indebtedness hereunder at the sole discretion of the Lessor or FNHC. (The Additional Terms and Conditions set forth on the reverse side hereof are a part,l/ of 1- this Lease.) Lessee CITY OF LUB80CK,.," Lessor ILENE AG PO,RA NEJr HOLLAND, INC. r y I sm Ti�_,;:%!LF an• ° '�gr> _n , GUARANTY OF PAYMENTS. The undersigned guarantees performance of this lease by Lessee, including prompt payment Men due of the sums payable by Lessee. The undersigne - I upon demand, immediately pay any sums due under this lease. The undersigned hereby waives notice of any m 'ficatio ts, extensions, non–performance, or non–payment. This guaranty shall be direct, primary, and a continuing i he `li nder-s s{ and the undersigned's heirs, ucces rs, and assigns. Signature '`�-----><k ss l}a p10 0-� Print Name City, State, Zip FOR LESSOR'S USE ONLY Insurance Coverage. Name of Insurance Agent — Address of insurance Agent Name of Insurance Company Telephone No. Policy No. Check Coverages: Property Damage Insurance ❑ $ _ Deductible Comprehensive ❑ $ Deductible Collision Liability Insurance Per Per ❑ Bodily Injury $ Person$ Accident ❑ Property Damage $ Per Accident PRINTED IN USA TERMS AND CONDITIONS (Cont'd) Lessee shall indemnify and hold harmless Lessor and Lessor's agents, employees and successors from and against any damage, loss, theft or destruction of the Equipment or any part thereof, and of the cargo or contents thereof, during the term of this lease, and from and against any and all loss, damages, injuries, claims, demands, costs and expenses (including legal expenses) of every kind and nature, arising out of or connected with the use, condition (including, without limitation, all defects whether or not discoverable by Lessor or Lessee) or operation of the Equipment or any part thereof during the term of this lease. Lessee shall obtain liability insurance from a carrier acceptable to Lessor In such form and subject tosuch limits as Lessor may reasonably require protecting the interests of Lessor, FNHC and Lessee against claims for damages or injuries to persons or property caused by the use, holding or operation of the Equipment. Lessee shall promptly notify Lessor of any loss, damage, theft, destruction, injury, claim, demand, cost or expenses of which Lessee has notice. 4. MAINTENANCE, REPAIRS AND OPERATING EXPENSES. Lessee shall maintain the Equipment in good working order and condition, properly serviced and garaged, and shall make all necessary repairs and replacements. Title to all replacements shall vest in Lessor. Lessee shall pay for all such maintenance and repairs and for all gasoline, oil, anti—freeze and other supplies required for the proper operation or protection of the Equipment. 5. REGISTRATION AND TAXES. Lessee shall accomplish and pay for the titling, registration and licensing of the Equipment in Lessor's name, and all inspections thereof required by any governmental authority. In addition, Lessee shall pay all occupational taxes and governmental charges imposed in connection with the use of the Equipment and all sales, use, excise, personal property and other taxes and government charges payable during the term of this lease with respect to the Equipment or its ownership, possession, rental, transportation or delivery, except net Income or gross receipts taxes measured by rentals payable hereunder. 6. EXTENSION OF LEASE TERM. Upon the expiration of this Lease, Lessee, with the approval of the Lessor and FNHC, may extend the Lease Term on a month to month basis and at the rental hereinafter specified but otherwise on the same terms and conditions specilfied herein, and Lessee shall be deemed to have extended the Lease Term on such basis in the event and for so long as Lessee fails to return the Equipment to Lessor. Lessee shall pay to FNHC each month in advance during the extended term the following rental: (a) the monthly rental payable during the original Lease Term, if periodic rentals were payable monthly, or (b) the periodic rental payable during the original Lease Term divided by the number of months in each period, If periodic rentals were payable annually or semi—annually, or on other than a monthly basis. 7. TERMINATION_ a. By Lessee_ Lessee shall have no right to terminate this lease, provided, however, that with the prior written consent of FNHC, Lessor and Lessee may agree to terminate this Lease upon such terms as they may mutually determine. b. By Lessor. Lessor may terminate this lease at any time with respect to all or any item of Equipment upon the occurrence of any of the following events of default: (i) Failure by Lessee to provide any insurance to be provided by Lessee hereunder, or refusal by any. Insurance carrier to issue any insurance required hereunder, or cancellation or suspension by the carrier of any insurance required hereunder; (ii} Failure by Lessee to pay any rental or other payment required hereunder; (iii) The damage, loss, theft or destruction of the Equipment or any part thereof; (iv1 Failure by Lessee to perform any other provision of this lease to be performed by Lessee; (v} The filing of any petition by or against Lessee under any bankruptcy, reorganization or receivership law, or Lessee's making any assignment for the benefit of creditors, or Lessee suffering the appointment of any trustee or receiver of Lessee's business or assets or any part thereof or Lessee making or suffering any voluntary or invotluntary assignment of Lessee's interest in the Equipment or anyportion thereof, or Lessee suffering any lien, attachment or levy to become attached to the Equipment or any portion thereof, unless such petition, assignment, appointment, lien, attachment or levy be withdrawn or nullified within ten days. Upon such event of default, Lessor may Immediately retake the Equipment. Any such termination of this lease by Lessor for default by Lessee shall not terminate Lessee's obligations to pay all of the rentals and other payments specified herein. Additionally, upon such termination Lessee shall be responsible to pa the residual value used to determine the lease payments. Upon any such termination of this lease by Lessor for Lessee's default Lessor may sell the Equipment or any item thereof, If the Equipment has not been stolen or totally destroyed, at public or private sale. The amount of any sales proceeds and/or insurance proceeds (after first deducting the costs of retaking, holding preparing for sale and selling the Equipment, including attorneys fees and legal expenses, as permitted by law) received by Lessor, shall be credited against (1) the amount of rentals and other payments remaining due under this lease as of the date of the sale of the Equipment, or the date of the theft or total destruction of the Equipment, plus (2) the amount of the residual value used to determine the rental payments under this lease. The deficiency, if any, shall be paid by Lessee forthwith upon demand with interest thereon at the highest lawful contract rate. To the extent permitted by law, Lessee shall pay attorneys fees and legal costs incurred by Lessor if suit is brought to collect any deficiency by an attorney who is not an employee of Lessor. No surplus shall be paid to Lessee. Lessor's rights and remedies hereunder are rr addition to any given by law and may be enforced successively or concurrently. Waiver by Lessor of any default shall not be deemed a waiver of any other default. Lessor shall provide Lessee all notices required by law after an event of default and termination occurs. 8. USE AND RETURN OF EQUIPMENT. Except with prior written consent of Lessor, the Equipment will be used only for the purpose for which it was designed and built and will be operated out of, and, when not in use will be stored only at Lessee's address stated above. Lessor and FNHC may enter on Lessee's property at any time to inspect the Equipment. Upon the expiration or earlier termination of this lease, Lessee shall return the (Equipment to Lessor at Lessor's address stated above in the same condition as when delivered to Lessee, reasonable wear and tear only excepted. Lessee shall pay Lessor all costs and expenses incurred by Lessor to repair any physical or mechanical damage to the Equipment In excess of reasonable wear and tear. 9. FORCE MAJEURE/NO CONSEQUENTIAL DAMAGES/WARRANTIES. Lessor shall not be liable for any failure or delay in delivering the Equipment or any portion thereof, or in performing any provision hereof, due to fire or other casualty, iabor difficulty, governmental restriction or any cause beyond Lessor's reasonable control. In no event shall Lessor be liable for any loss of profits, other consequential damages or inconvenience due to any theft, damage, loss, defect or failure of the Equipment or any item thereof or the time consumed in recovering, repairing, servicing or replacing the same, and there shall be no abatement or apportionment of rental during such time. In this lease there are no express or implied warranties about the Equipment, including, without limitation, warranties of merchantability, suitability or fitness for a particular purpose. 1 C. AGREEMENT OF LEASE ONLY. This Agreement is one of leasing only and Lessee shall not have, oracquire any right, title or interest in the Equipment or any item thereof except the right to use the same during the term hereof. If a Purchase Option Price is disclosed on the front of this lease, Lessee may purchase the Equipment for the Purchase Option Price upon the expiration of this lease if the Lessee is not then in default. Lessee shall pay all applicable taxes upon such purchase. 11. ASSIGNMENT_ Promptly upon the execution and delivery hereof, Lessor will assign all rentals and other payments due or to become due hereunder to FNHC and will convey to FNHC a security interest in the Equipment and each item thereof to secure all amounts now or hereafter due or to become due by Lessor or Lessee to FNHC hereunder or otherwise. Lessee acknowledges receipt of notice of Lessor's intent to make such assignment and to convey such a security interest to FNHC and agrees to make all payments due or to become due hereunder directly to FNHC without further notice. Lessor and Lessee further agree that FNHC shall at all times have the right to exercise any of Lessor's rights hereunder but shall not be respp�onsible for any of Lessor's obligations hereunder, and Lessee's rights hereunder shall at all times be junior and subordinate to FNHC's interests in the Equipment. Lessor and Lessee agree that this lease cannot be amended without FNHC's written consent, and that any amendment to this lease made by Lessor and Lessee without FNHC's written consent shat} be void. Lessee may not sublet the Equipment or any item thereof or assign any of Lessee's rights hereunder. Lessee agrees to notify FNHC promptly in writing in the event that Lessee shall terminate this agreement or return any or all of the Equipment to Lessor. ASSIGNMENT FOR VALUE RECEIVED, the undersigned, the Lessor named in the attached Equipment Lease (hereinafter called the "Lease"), hereby assigns, transfers and sets over unto Ford New Holland Credit Company (hereinafter called "FNHC"), its successors and assigns, all rentals and other payments paid, due or to become due, under the Lease and authorizes FNHC in the name of the undersigned or otherwise, to receive, collect and receipt for the payment of said rentals and other payments and give full discharge therefor; to endorse any checks, drafts, money orders, or instruments for the payment thereof payable to or to the order of the undersigned that may be received by FNHC in connection therewith; to sue for, settle, adjust and compromise all present or future claims arising thereunder or in connection therewith; to sell, assign, pledge or make any other agreement with respect thereto; and to exercise all other rights and remedies that the undersigned would have with respect thereto but for this Assignment. The undersigned covenants and agrees to endorse and remit any of such rentals or other payments received by the undersigned to FNHC and to keep in effect, and not change or alter or consent to any change or alteration of the Lease without the consent of FNHC and to require the Lessee under the Lease to comply with alt of the terms and conditions thereof. As collateral security for the obligations of the undersigned hereunder and for all other obligations of the undersigned to FNHC now or hereafter existing, the undersigned does hereby grant to FNHC a security interest in the Lease and the Equipment described therein. This Assignment is made pursuant to an Equipment Lease Financing Agreement heretofore executed by the undersigned and is subject to the provis' ereof. Lessor d Lessee expressly acknowledge and agree that FNHC may assign any or allofits rights an and obligations under this agreement to its sub y or hated companies. Lessor lit ler+� I`T19 r-0���LC.i "WOR—WITHOUT RECOURSE" This Assignment of the Lease is and shall be without recourse against Lessor, except as otherwise provided by the terms of the WOR — Without Recourse Equipment Lease Financing Agreement and Plan in effect Initial at the time this Assignment becomes effective. REPURCHASE" This Assignment of the Lease is and shall be subject to the RA—Repurchase Equipment Lease Financing Agreement executed by Lessor in effect at the time this Assignment becomes effective, and Lessor shall pay in full the Initial Lease Termination Value as provided in the RA—Repurchase Equipment Lease Financing Agreement and flan. PLAN" This Assignment of the Lease is and shall be subject to the agreement heretofore executed by Lessor with respect to such Plan. Initial