EXHIBIT 10.52
INSTALLMENT SALE CONTRACT (SECURITY AGREEMENT)
PURCHASER(S): SELLER (DEALER):
MEADOW VALLEY CONTRACTORS, XXXXXXX EQUIPMENT COMPANY
INC.
X.X. XXX 00000 0000 XXXX XXXXX XXXX
X.X. XXX 0000
XXXXXXX, XX 00000 XXX XXXXX XX 00000-0000
County: MARICOPA
--------------------------------------------------------------------------------
Subject to the terms and conditions set forth below and on the reverse side
hereof, Seller hereby sells the equipment described below (the "Unit" or
"Units") to Purchaser, and Purchaser (if more than one, jointly and severally),
having been offered both a cash sale price and a time sale price, hereby buys
the Units from Seller on a time sale basis.
--------------------------------------------------------------------------------
NEW (IF USED) DELIVERED
OR FIRST MODEL DESCRIPTION OF UNIT(S) SERIAL# CASH SALE
USED USED PRICE
--------------------------------------------------------------------------------
(1) USED 1995 RT100 Caterpillar TELESCOPIC HANDLER 1GJ01186 71,343.00
------------------------------------------------------------------------------------------------------------------------
FIRST DESCRIPTION OF ADDITIONAL SECURITY
USED (MAKE, MODEL & SERIAL NUMBER) Sub Total.............................. $ 71,343.00
----------------------------------------------------------
NONE Sales Tax.............................. $ 0.00
1. Total Cash Sale Price.................. $ 71,343.00
Cash Down Pay
Net Trade-In Allow 0.00
2. Total Down Payment..................... $ 0.00
----------------------------------------------------------
FIRST DESCRIPTION OF TRADE-IN EQUIPMENT 3. Unpaid Balance of Cash Price (1-2)..... $ 71,343.00
USED (MAKE, MODEL & SERIAL NUMBER)
----------------------------------------------------------
NONE 4. Official Fees (Specify)................ $ 250.00
DOCUMENTATION FEE 250.00
5. Physical Damage Insurance.............. $
6. Principal Balance
(Amount Financed) (3 + 4 + 5).......... $ 71,593.00
-----------------------------------------------------------
7. Finance Charge
Trade-in Value 0.00 (Time Price Differential).............. $ 10,347.32
Less Owing to (___n/a___) 0.00 8. Time Balance
Net Trade-in allowance 0.00 (Total of Payments) (5 + 7)............ $ 81,940.32
9. Time Sale Balance
Location of Units: 4411 s. 40th ST STE D11 (Total of Payment Price (2 + 8)........ $ 81,940.32
XXXXXXX, XX 00000 MARICOPA 10. Annual Percentage Rate 6.78%
11. Date FINANCE CHARGE begins to accrue 8/12/97
PURCHASER HEREBY SELLS AND CONVEYS TO SELLER THE ABOVE DESCRIBED TRADE-IN
EQUIPMENT AND WARRANTS IT TO BE FEE AND CLEAR OF ALL CLAIMS, LIENS, SECURITY
INTERESTS AND ENCUMBRANCES EXCEPT TO THE EXTENT SHOWN ABOVE.
1. PAYMENT: Purchaser promises to pay to Seller at the address
designated in writing by Seller the Time Balance (Item 8 above) as follows
[check (a) or (b)]:
X (a) In 48 equal monthly installments of $1,707.09 each, with the first
---
installment due on 9/27/97, and the balance of the installments due on the like
day of each month thereafter, (except no payments shall be due during the
month(s) of (___n/a___)), until the entire indebtedness has been paid; or
___ (b) In accordance with the Payment Schedule attached to this Contract.
(Provisions of section 1 continued on reverse.)
SEE REVERSE SIDE FOR ADDITIONAL TERMS AND CONDITIONS WHICH ARE A PART OF THIS
CONTRACT.
LIABILITY INSURANCE COVERAGE FOR BODILY INJURY AND PROPERTY DAMAGE CAUSED TO
OTHERS IS NOT INCLUDED IN THIS CONTRACT.
NOTICE TO PURCHASER: (1) DO NOT SIGN THIS CONTRACT BEFORE YOU READ IT OR IF IT
CONTAINS ANY BLANK SPACES; (2) YOU ARE ENTITLED TO AN EXACT COPY OF THE CONTRACT
YOU SIGN; (3) UNDER THE LAW YOU MAY HAVE THE RIGHT TO PAY OFF IN ADVANCE THE
FULL AMOUNT DUE AND TO OBTAIN A PARTIAL REFUND OF THE FINANCE CHARGE.
PURCHASER ACKNOWLEDGES RECEIPT OF A FULLY COMPLETED COPY OF THIS CONTRACT
EXECUTED BY BOTH PURCHASER AND SELLER.
Purchaser(s) and Seller have duly executed this Contract as of 8/27, 1997.
Purchaser(s): Seller:
MEADOW VALLEY CONTRACTORS, XXXXXXX EQUIPMENT COMPANY
INC.
By /s/ Xxxx X. Xxxxxxx By /s/ Xxxxxxx X. Xxxx
-------------------------- ------------------------------
Name (PRINT) XXXX X. XXXXXXX Name (PRINT) XXXXXXX X. XXXX
--------------- -------------------
Title VP/CFO Title Vice President & Treasurer
----------------------- --------------------------
