EXHIBIT 10.137
Equipment Schedule No. 1
Dated as of 6-20-00
To Master Lease Agreement dated 6-20-00
Acceptance Date 06-20-00
Commencement Date 07-26-00
Equipment Schedule to MASTER LEASE AGREEMENT dated as of 6-20-00 between THE CIT
GROUP/EQUIPMENT FINANCING, INC., as Lessor and Ready Mix, Inc. as Lessee. This
Equipment Schedule incorporates the terms and conditions of the above-referenced
Master Lease Agreement.
This is Originally Executed Copy No. 1 of 1 originally executed copies. Only
transfer of possession by Lessor of Originally Executed Copy No. 1 shall be
effective for purposes of perfecting an interest in this Schedule by possession.
1. EQUIPMENT DESCRIPTION:
Quantity Manufacturer Model/Feature Serial Number Description Cost Per Unit
-------- ------------ ------------- ------------- ----------- -------------
One Besser M-12 00000 00 Yard Mobile 543,313.00
Batch Plant with
Surge Xxxxxx
2. LESSOR'S AGGREGATE COST OF EQUIPMENT. $543,313.00
3. EQUIPMENT LOCATION. 000 Xxxxx, Xxxxx Xxx Xxxxx, XX 00000
4. ACCEPTANCE: Lessee confirms that (a) the Equipment described herein has been
delivered to it in good working order and condition, and has been inspected
and accepted by Lessee as of the Acceptance Date set forth above, (b) no
Event of Default exists, (c) no Event of Default will be caused by the
execution of this Schedule, (d) all Lessee's representations and warranties
are true and correct, and (e) the terms and provisions of the Master Lease
are hereby incorporated by reference and reaffirmed.
5. LEASE TERM.
a. Interim Lease Term. The interim term of the lease of the Equipment shall
commence on the Acceptance Date and shall continue until the commencement of
the Primary Lease Term defined below.
b. Primary Lease Term. The primary term of the lease of Equipment shall
commence on the Commencement Date and shall continue for a term of 72 months
from such Commencement Date.
6. RENT PAYMENTS.
b. Primary Rent. The rent for each item of Equipment during the Primary
Lease Term shall consist of 72 payments of $8,682.64, payable monthly
commencing on the Commencement Date and a like sum on the same day of each
month thereafter.
7. STIPULATED LOSS VALUES. The Stipulated Loss Values, expressed as a
percentage of Lessor's cost of the Equipment, are set forth in Exhibit A
attached hereto. The Stipulated Loss Value with respect to any item of
Equipment as of any rent payment date shall be an amount determined by
multiplying Lessor's cost of the item by the applicable percentage set forth
on Exhibit A. Any Stipulated Loss Value determined as of a date after the
final date will be determined by using the percentage for the final rent
payment date.
8. RETURN, OPERATION, MAINTENANCE, ADDITIONS. The return, operation,
maintenance and additions provisions applicable to the Equipment are set
forth in Rider A attached hereto.
9. DEPRECIATION TAX ASSUMPTIONS. Equipment has a recovery period of 5 years.
10. NONREFUNDABLE PROCESSING/ORIGINATION FEE payable to The CIT Group/Equipment
Financing, Inc. $0.00
11. ADDITIONAL PROVISIONS:
Year 2000. The Lessee shall take all action necessary to assure that its
computer-based systems are able to effectively process data including dates and
date sensitive functions. The Lessee represents and warrants that the Year 2000
problem (that is, the inability of certain computer applications to recognize
and correctly perform properly date-sensitive functions involving certain dates
prior to and after December 31, 1999) will not result in a material adverse
effect on the Lessee's business condition or ability to perform hereunder. Upon
request, the Lessee shall provide assurance acceptable to the Lessor that the
Lessee's computer systems and software are or will be Year 2000 compliant on a
timely basis. The Lessee shall immediately advise Lessor in writing of any
material changes in the Lessee's Year 2000 plan, timetable or budget.
IN WITNESS WHEREOF, this Equipment Schedule has been signed as of the date set
forth above.
Lessee:
Ready Mix, Inc.
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By /s/ Xxxxxxx X. Xxxxxx Title Vice President
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XXXXXXX X. XXXXXX
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